Plastic Omnium // 2021 Universal Registration Document

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CONSOLIDATED FINANCIAL STATEMENTS 2021 Consolidated financial statements at December 31, 2021

5.2.5

Provisions for pensions and other post-employment

The net impact of these two changes is an increase in actuarial debt of €2.7 million. Plans for the payment of healthcare costs mainly concern the North America region (United States). Other long-term employee benefits Other long-term employee benefits cover long-service awards and other service awards within the Group. Post-employment benefit plans are subject to the regulations applicable in each country. The benefits recognized in the financial statements are therefore not a function of the number of employees by region. The regions identified and presented are those for which the regulations are consistent, allowing data to be aggregated. Where no such aggregation is possible, no reference actuarial rate is given, as a mismatch in the parameters does not enable an average to be calculated. Similarly, sensitivity tests are carried out on significant, homogeneous data and by region. ACTUARIAL ASSUMPTIONS 5.2.5.1 The increase in discount rates in 2021 led the Group to revalue its employee-related commitments for the Euro zone and the United States. The rates used at December 31, 2021 were respectively: 0.90% for the Euro zone (0.35% at December 31, 2020); ● 2.73% for the United States (2.46% at December 31, 2020). ● The main significant actuarial assumptions used to value post-retirement and long-term benefits are the following:

benefits Post-employment benefits The generic term “post-employment benefits” covers both pension and

other employee benefits. Provisions for pensions Provisions for pensions mainly concern: end of career benefits; ● supplementary pension plans; and ● healthcare coverage plans. ●

In France, social benefits relate to supplementary pension plans only for executive corporate officers and end-of-career benefits (“IFC”). Supplementary pension plans, when they related to the other geographical regions, concern all employees. A supplementary defined-benefit pension plan with certain rights was set up within Plastic Omnium Gestion in December 2021, with retroactive effect from January 1, 2020. Under this new plan, pension rights are not conditional on the completion of the participants’ careers in the Group. The beneficiaries are all corporate officers and employees of Plastic Omnium Gestion whose employment corresponds to coefficient 940 of the National Collective Agreement for the Plastics Industry from the implementation of this new plan until the valuation date, subject to having completed a minimum of three years’ service with the companies offering the scheme and being under 60 years of age on January 1, 2020. The implementation of this new plan was accompanied by a modification of the existing plan so that the sum of these two pensions cannot exceed 10% of the reference compensation at the time of retirement.

December 31, 2021

December 31, 2020

France United States

France United States

Managers and non-managers

Managers and non-managers

Minimum age for receiving a full pension

60-62 years

65 years

60-62 years

65 years

Age from which no reduction applies

65-67 years

65-67 years

Annual discount rate – post-employment benefits

0.90%

2.73%

0.35%

2.46%

Annual discount rate – long-service awards

0.60%

0.25%

Inflation rate

1.70%

2.00%

1.70%

2.00%

Rate of future salary increases

2.70%

3.50%

2.70%

3.50%

Rate of increase in healthcare costs For those under 65 years old

7.25%

8.00%

For those over 65 years old

4.75%

5.50%

Expected long-term rate of return on pension plan assets

0.90%

2.73%

0.35%

2.46%

Annual discount rate of post-employment benefits The Group uses, as a reference, the rate of bonds issued by good quality (AA) commercial and industrial companies and with maturity equal to the length of the commitment being valued. Inflation rates In France, benefits are linked to inflation rates. The impact of inflation rates is not material in the United States.

Average rate of future salary increases The average rates of future salary increases are weighted between “managers” and “non-managers” and the age of employees. Expected long-term rate of return on pension plan assets These rates are based on long-term market forecasts and take account of each plan’s asset allocation. For other foreign subsidiaries, rate differentials are determined based on local conditions.

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PLASTIC OMNIUM UNIVERSAL REGISTRATION DOCUMENT 2021