PERNOD-RICARD - URD 2020-21

____ 2. CORPORATE GOVERNANCE COMPENSATION POLICY

Equity ratio between the level of compensation of Mr Alexandre Ricard, Chairman and CEO, and the average and median compensation of the Company’s employees Information concerning the ratios between the compensation of the Chairman and CEO and the average and median compensation of the Company’s employees is presented below in accordance with the provisions of article L. 22-10-9 of the The average and median compensation was established on a full-time equivalent basis for the Company’s employees other than the Chairman and CEO. This compensation, taken into account on a gross basis, includes the following elements: fixed compensation, variable annual compensation, additional payments under the supplementary defined-contribution pension scheme, employee savings schemes and long-term incentive measures valued at their fair value at the date of allocation, as recognised in the consolidated financial statements in accordance with IFRS 2. This valuation corresponds to a historical value at the grant date calculated French Commercial Code. CALCULATION METHOD

for accounting purposes. It does not represent a current market value, nor the value that could be received by the beneficiary upon the eventual vesting of these securities, especially if the performance conditions are not met. The scope of employees included only covers employees who were present continuously for two consecutive financial years. For part-time employees, compensation has been established on the basis of full-time equivalents. The ratios and annual changes in compensation were calculated on the basis of the gross compensation components paid or awarded in the current year (thus including the variable compensation and profit-sharing allocated in respect of the prior year). The legal scope of this information covers Pernod Ricard SA. In addition, in accordance with recommendation 26.2 of the AFEP-MEDEF Code, the ratios are also published for a broader scope, representative of the Group’s business in France, including Pernod Ricard SA and all direct and indirect affiliates located in France. The table below has been drawn up taking into account the model circulated by the AFEP in its guidelines updated in February 2021.

ANNUAL CHANGES IN THE COMPANY’S COMPENSATION AND PERFORMANCE Table of ratios for I. 6 and 7 of article L. 22-10-9 of the French Commercial Code

FY21

FY17

FY18

FY19

FY20

Change (in%) in the compensation of Mr Alexandre Ricard, Chairman and CEO (1) Information on the scope of the listed company (2) Change (in %) in average employee compensation

19%

17%

19%

5%

-33%

0.5%

-8.1%

-0.4 %

7.8%

2.9%

Change (in%) in median employee compensation

4.3%

-1.4%

-1.2 %

4.5%

2.1%

Ratio compared to average employee compensation

48.09

33.76

40.17

39.12

25.38

Change (in %) compared to the previous financial year

114.8%

-29.8%

19.0%

-2.6%

-35.1%

Ratio compared to median employee compensation

85.98

56.21

67.43

67.68

44.31

Change (in %) compared to the previous financial year

106.8% -34.6%

20.0%

0.4%

-34.5%

Additional information on the extended scope (3) Change (in %) in average employee compensation

N.C.

-0.5%

6.4%

0.6%

Change (in %) in median employee compensation

N.C.

0.1%

- 2.9%

4.2%

Ratio compared to average employee compensation

54.15

64.49

63.71

42.24

(2)

Change (in %) compared to the previous financial year

N.C.

19.1%

- 1.2%

-33.7%

Ratio compared to median employee compensation

70.25

83.15

89.86

57.58

Change (in %) compared to the previous financial year

N.C.

18.4%

8.2%

-36.0%

Company performance Profit from Recurring Operations

2,394

2,358

2,581

2,260

2,423

Change (in %) compared to the previous financial year (3)

3.3%

6.3%

8.7%

-13.7%

18.3%

N.C. Not calculable Elements explaining the variation of the ratio as regards the compensation of the Chairman and CEO taken into account: (1)

FY17: exceptional payment of €2,668,000 in consideration for the abolition of the supplementary defined-benefit pension scheme (past service compensation – see 2016/17 unvisersal registration document, page 109). For the purposes of comparing compensation over time, this exceptional payment has been separated out; FY18: payment of the FY17 bonus with an achievement rate of 131%, whereas the bonus paid in FY17 in respect of FY16 represented 96%; FY19: increase in the fixed compensation and payment of the bonus for FY18, with an achievement rate of 161%; FY20: payment of the bonus due in respect of FY19, with an achievement rate of 159%;

FY21: impact of the Covid-19 crisis on the FY20 variable compensation paid during the financial year. For technical reasons, it was not possible to reconstruct the entire extended scope for FY17. (2) In internal growth, restated for foreign exchange and scope effects. (3)

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PERNOD RICARD UNIVERSAL REGISTRATION DOCUMENT 2020-2021