PERNOD RICARD - Universal Registration Document 2019-2020

Pernod Ricard at a Glance

02

1. Extracts from the Integrated Annual Report

5. Management Report î

151 Key figures from the consolidated financial statements 5.1 for the year ended 30 June 2020 152 Analysis of business activity and results 5.2 153 Net debt 5.3 157 Outlook 5.4 157 Definitions and reconciliation of alternative 5.5 performance indicators with IFRS indicators 158 Material contracts 5.6 158

05

Message from the Chairman & Chief Executive Officer

06 08 10 12 14 16 18 20 22 24 26 28

Our history

Our decentralised organisation

Our Mindset, our purpose

Our brand portfolio

Our Strategy: ‘Transform & Accelerate’

Our S&R roadmap

6. Consolidated Financial Statements î

Progress so far

Our Board of Directors

163

Our Executive Board & Executive Committee

Our value creation model

Consolidated income statement 6.1

164 165 166 168 169 170

Our key financial

Consolidated statement of comprehensive income 6.2

2. Corporate Governance 31 Report of the Board of Directors on corporate governance 32 Composition of the Board of Directors on 30 June 2020 2.1 32 Overview of the composition of the Board of Directors 2.2 and its Committees 33 Duties performed by the Directors 2.3 34 Governance Structure 2.4 43 Composition of the Board of Directors 2.5 44 Structure and operation of the Board of Directors 2.6 50 Structure and operation of the Committees 2.7 53 Compensation policy 2.8 56 Financial authorisations and delegations 2.9 77 Share buyback programme 2.10 79 Items liable to have an impact in the event 2.11 of a public offer 81 Shareholders’ Meetings and attendance procedures 2.12 82 Management structure 2.13 83 3. Sustainability & Responsibility î 85 Pernod Ricard brings good times from a good place 3.1 86 The main sustainaibility risks and opportunities 3.2 88 The four pillars of the good times from 3.3 a good place roadmap 91 Ethics & compliance 3.4 114 Reference table for the United Nations Sustainable 3.5 Development Goals (SDGs) 119 Methodology note and third-party verification 3.6 120 4. Risk Management î 127 Internal control and risk management 4.1 128 Risk factors 4.2 130 Insurance and risk coverage 4.3 148 Risks and disputes: provisioning procedure 4.4 149 Financial and accounting information 4.5 149

Consolidated balance sheet 6.3

Changes in consolidated shareholders’ equity 6.4

Consolidated cash flow statement 6.5

Contents

Notes to the consolidated financial statements 6.6 Statutory auditors’ report on the consolidated 6.7 financial statements 7. Pernod Ricard SA Financial Statements î

218

223

7.1

Pernod Ricard SA income statement

224 225

Pernod Ricard SA balance sheet 7.2 Pernod Ricard SA cash flow statement 7.3 227 Analysis of Pernod Ricard SA results and balance sheet 7.4 228 Notes to the Pernod Ricard SA financial statements 7.5 230 Other items relating to the financial statements 7.6 242 Financial results over the last five financial years 7.7 244 Dividends paid over the last five financial years 7.8 244 Inventory of marketable securities 7.9 245 Statutory Auditors’ report on the financial statements 7.10 246 Statutory Auditors’ special report 7.11 on regulated agreements 249 8. Combined Shareholders’ Meeting251 Agenda – Combined Shareholders’ Meeting 8.1 on 27 November 2020 252 Presentation of the resolutions of the Combined 8.2 Shareholders’ Meeting on 27 November 2020 253 Draft resolutions of the Combined 8.3 Shareholders’ Meeting on 27 November 2020 257 Statutory Auditors’ report on the issuance of ordinary 8.4 shares or securities conferring entitlement to share capital, reserved for members of company saving plans 265 Statutory Auditors’ report on the issuance of ordinary 8.5 shares or securities conferring entitlement to share capital, with cancellation of preferential subscription rights 266 9. About the company and its Share Capital 267 Information about Pernod Ricard 9.1 268 Information about the share capital 9.2 270 10. Additional Information in the Universal Registration Document 277 Persons responsible 10.1 278 Documents on display 10.2 278 Reference tables 10.3 279

Items in the annual financial report (AFR) are identified in the contents by the pictogram î

Pernod Ricard Universal Registration Document 2019-2020