PERNOD-RICARD - URD 2021-22 EN

Annual consolidated financial statements Notes to the consolidated financial statements

Employee share ownership plan In the spring of 2022, employees in 24 markets ( i.e. around 80% of the Group’s employees) had the opportunity to participate in the Pernod Ricard share ownership plan, as part of a structured offer, including in particular a 20% discount on the reference share price. The acquisition price was set at €156.14, corresponding to 80% of the average opening share price over the 20 trading sessions preceding the Chairman & CEO’s decision, i.e. from 19 April to 9 May 2022. At 13 May 2022, date of the end of the vesting/withdrawal period, all shares available under this offer (525,183) had been subscribed by the employees of the affiliates present in the 24 markets participating in the plan. The IFRS 2 expense measuring the benefit offered to employees is measured with reference to the fair value of a discount offered on non-transferable shares. The IFRS 2 expense recognised in respect of this plan in the FY22 consolidated financial statements amounts to €6.0 million. This plan did not result in a capital increase, as the shares concerned were bought back by the Group on the secondary market during the FY22 financial year; the employee contribution was also made over the financial year.

For one of the plans, part of the grant is contingent on the overall performance of the Pernod Ricard share (TSR (1) ) compared to the overall performance of a panel of 12 peers: the shares will be pre-vested on 10 November 2023 provided that the positioning of the overall performance of the Pernod Ricard share (TSR (1) ) is equal to or greater than 7 th position out of 13 (the number will be determined in stages according to the level of performance achieved). The other part of the allocation of this plan is subject to an internal performance condition, the achievement of which will depend on the average of the Group’s profit from recurring operations for the financial years ended 30 June 2022, 30 June 2023 and 30 June 2024 compared to the budgeted profit from recurring operations for each financial year, at constant exchange rates and scope. The fair value here corresponds to the market price of the share on the grant date, less the loss of dividends expected during the vesting period ( i.e. three years for all beneficiaries) and includes the probability of achieving the TSR performance condition. The IFRS 2 accounting expense of the plan will be adjusted at the latest at the end of the vesting period in relation to this condition. The fair value of the other two plans (with and without internal performance conditions) corresponds to the market price of the share at the grant date, less the loss of dividends expected during the vesting period ( i.e. three years for all beneficiaries). For all these plans, vesting will be definitive if the presence condition is validated on 10 November 2024.

Note 6.3

Off-balance sheet commitments

> 1 year and < 5 years

Total

< 1 year

> 5 years

€ million

Commitments given at 30.06.2021

2,340

870

1,332

138

6.

Commitments given in relation to companies within the Group

3 3

1 1

1 1

- - - -

Investment commitments

Commitments given as part of specific transactions

- -

- -

- -

Other

Commitments given in relation to the financing of the Company

29 29

22 22

1 1

6 6

Financial guarantees given

Other

-

-

-

-

Commitments relating to the operating activities of the issuer Firm and irrevocable commitments to purchase raw materials

2,308 2,006

846 628

1,330 1,307

133

70

Tax commitments (customs guarantees and others)

249

179

9 4 9

61

Operating lease agreements

10

4

1 1

Other

44

34

Total Shareholder Return. (1)

245

Pernod Ricard Universal Registration Document 2021-2022