SOMFY - Annual Financial Report 2020

07 LEGAL DOCUMENTS

STATUTORY AUDITORS’ REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS

INDEPENDENCE

To the General Meeting of Somfy SA,

We have conducted our audit engagement in compliance with the independence rules set out by the Commercial Code and the Code of Ethics for Statutory Auditors, for the period from 1 January 2020 to the date of our report and specifically we did not provide any prohibited non-audit services referred to in Article 5(1) of regulation (EU) n°537/2014. JUSTIFICATION OF ASSESSMENTS – KEY AUDIT MATTERS — Due to the global crisis related to the Covid-19 pandemic, the financial statements of this period have been prepared and audited under specific conditions. Indeed, this crisis and the exceptional measures taken in the context of the state of sanitary emergency have had numerous consequences for companies, particularly on their operations and their financing, and have led to greater uncertainties on their future prospects. Those measures, such as travel restrictions and remote working, have also had an impact on the companies’ internal organisation and the performance of the audits. It is in this complex and evolving context that, in accordance with the requirements of Articles L. 823-9 and R. 823-7 of the Commercial Code relating to the justification of our assessments, we inform you of the key audit matters relating to risks of material misstatement which, in our professional judgement, were of most significance in our audit of the consolidated financial statements for the financial year just ended, as well as how we addressed those risks. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, and in forming our opinion thereon. Accordingly, we do not provide any opinion on specific items of the consolidated financial statements. Our work as part of the audit of the Group’s consolidated financial statements specifically consisted of, with the support of our valuation specialists: reviewing the procedures for implementing the – impairment test in relation to the shareholding in the Dooya company; assessing the consistency of the assumptions in – relation to the historic performances and operating budgets approved by the Board of Directors of Dooya, incorporating growth forecasts for subsequent years, in particular by taking into account the potential impacts of the Covid-19 pandemic in these forecasts; performing sensitivity analyses on impairment tests; – comparing the recoverable amount of the – shareholding in the Dooya company with the net book value. Our response

OPINION —

In compliance with the engagement entrusted to us by your General Meeting, we have audited the accompanying consolidated financial statements of Somfy SA for the year ended 31 December 2020. In our opinion, the consolidated financial statements provide a true and fair view of the assets and liabilities and of the financial position of the Group at 31 December 2020 and of the results of its operations for the year then ended in accordance with International financial reporting Standards as adopted by the European Union. The audit opinion expressed above is consistent with the content of our report to the Audit Committee. BASIS FOR OPINION — AUDIT FRAMEWORK We have performed our audit in accordance with professional standards applicable in France. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Our responsibilities under those standards are further described herein in the section “Statutory Auditors’ responsibilities for the audit of the consolidated financial statements” of this report.

MEASUREMENT OF THE JOINTLY CONTROLLED SHAREHOLDING IN THE DOOYA COMPANY

Risk identified

At 31 December 2020, the jointly controlled shareholding in the Dooya company was valued at €144.8 million, as specified in note 13.1 “Investments in associates and joint ventures” to the consolidated financial statements. At the balance sheet date, your Group reassessed the value of this jointly controlled shareholding, in accordance with the policies described in note 13.1 to the consolidated financial statements. This impairment test involves comparing the recoverable amount of the shareholding in the Dooya company with its book value. The recoverable amount of a shareholding is measured at the higher of its fair value after deduction of disposal costs, and its value in use. If the recoverable amount exceeds the net book value of the shareholding at year-end, no impairment is recognised. However, if this amount is lower than the net book value, an impairment loss equal to the difference is recognised. We considered the valuation of the jointly controlled shareholding in the Dooya company to be a key audit matter since determining the value in use is based on discounted forecast cash flows which require the use of assumptions, estimates or judgements by Management.

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SOMFY – ANNUAL FINANCIAL REPORT 2020