[Non-English content] Good afternoon, ladies and gentlemen. I hereby declare the combined ordinary and extraordinary general meeting of shareholders open. First, I would like to thank the shareholders who are here with us in spite of the health crisis and the late venue of this general meeting, and I would like to thank the shareholders who were kind enough to log on to attend the meeting remotely. I hope that they can hear me well. I'm joined by Emmanuelle Petrovic, General Counsel, and Laurent Martinez, CFO. I would like to welcome as well the members of our board of directors. In accordance with the law, I am now responsible for setting up the committee. To act as scrutineers, I call on Mrs. Kim Thomassin, the representative of the Caisse de dépôt et placement du Québec, our major shareholder, holding 64,893,536 shares, and Stéphane Taillepied, representing Amundi, holding 9,633,158 shares. Both members representing the largest number of votes, and having accepted this position, they are with us, and thank you. I propose, with the agreement of the scrutineers, to appoint Emmanuelle Petrovic as the secretary to the board of the general meeting. Also participating in our meeting, the statutory auditors of our company, Jean-Luc Barlet, representing the firm Mazars, and Edouard Cartier, representing the firm PricewaterhouseCoopers Audit. The floor is to Emmanuelle Petrovic. Thank you, Chairman. The agenda and the resolution submitted to the vote of this combined general meeting appear in the brochure and the addendum online and on the website sent to the shareholders. This agenda and resolutions are also included in the notice of meeting published in the BALO of the 9th of July 2021. The reports of the board of directors and the resolutions are included, and in order not to extend the duration, I will not read them out. The reports of the statutory auditors were also made available. In the folder on the desk, you have the documents required by law, which will be listed in the minutes of this meeting. All those documents were made available to the shareholders at the company's registered office. This being said, the meeting will take place as follows. Our Chairman will present the highlights of the financial year 2021 and the strategy. Laurent Martinez will comment on the financial statements of the group for the financial year. The chairman of our committees, Yann Delabrière, independent lead director, will present the work of the Committee of Appointments and Compensation, as well as the compensation items of Henri Poupart-Lafarge for the past financial year and the compensation policy of the corporate officers. Mrs. Sylvie Rucar will present the work of the Audit Committee. Mrs. Sylvie Kandé de Beaupuy will present the work of the Ethics and Sustainability Committee. Frank Mastiaux will present the work of the Integration Committee. The statutory auditors will present their report. Further to those presentations, a Q&A session will take place. In order to maintain and favor this dialogue within the current health crisis context, a chat box has been open since the beginning of the meeting and on the website, and therefore, the shareholders who are attending remotely may ask written questions, and we may answer those questions based on the representative selections of the topics raised. Priority, however, being given to the questions put directly by the shareholders in the room. The presentation, the vote on the resolutions. As usual, an electronic voting system will be used. When you enter the room, you were handed a voting device. Please keep it ready, and please do not forget to give it back to the hostesses when leaving the room. The attendance sheet is being checked. We welcome the shareholders right up to 2:30 P.M. on the registration date of the shares, to which at least one voting right is attached. The share capital of your company is composed of 371,942,277 shares with a par value of EUR 7 each. 70% of shares with voting rights. The quorum for this general meeting, which is held on the first notice, is 20% for the ordinary part and 25% for the extraordinary part. The quorum of 25% is therefore already reached, and this meeting can validly deliberate. I'm going to hand over to the chairman. Thank you. Thank you very much, Emmanuelle. Let's move on and start the general presentation now. Let's look back at 2020 and 2021. I will, of course, talk about the Bombardier integration strategy. 2020 and 2021 has been a robust year in a difficult context with COVID-19, with major health challenges for all stakeholders and employees. We completed the Bombardier a cquisition. It has been a very busy year. Let's take a quick look at the numbers. As you can see, these numbers include only two months of Bombardier. All in all, we have a good year in terms of orders, and the book-to-bill has increased throughout the year. It's above 1, which means that we've had more new orders versus actual sales. At EUR 8.1 billion. Very good performance, even if the first half of the year was interrupted by the health crisis and a number of stoppages. Operating income has improved. We've reached our objective. The objective was 8% for Alstom. The total margin has been diluted, of course, by the impact of Bombardier. Bombardier's margin is lower than Alstom's. We'll come back to this later. The average is 7.3%, which is a very good margin. But, 8% and 2.5% for Alstom. This had an impact on net income, which includes operational and non-operational items, efficacy items, as well as the acquisition of Bombardier. The backlog at the end of March 2021 includes Bombardier's backlog. It is EUR 74.5 billion, which is a record figure. It includes Alstom's traditional orders and, of course, the Bombardier portfolio as well. Let's take a quick look at some of last year's order. You may remember that last year was difficult. Some projects were postponed by our customers, not because they wanted to cancel their projects or because they were questioning them, but simply because they were extremely busy managing the health crisis, and they could not practically order. We knew things were going to accelerate. Once customers started to exit the crisis, they were able to start executing their investment strategy. This is what happened in the first last months of 2020 and the first months of 2021. We've seen a continued positive momentum with over EUR 6 billion in orders. Looking back at some of the important orders, starting with the U.S., we have 200 multi-level commuter trains for Chicago. Spain with Renfe, a very large order. Germany is a very buoyant market. Closer to home in Toulouse, the metro system for the city of Toulouse, and a somewhat similar system in Taipei, Taiwan as well, and India, also very dynamic. Orders everywhere in Asia, in Europe, in the Americas as well. We're really benefiting from a very buoyant market across the board. A lot of innovations as well in 2020. I've said this time and again. We're not in an industry which is commoditizing. As a matter of fact, it's quite the opposite. We are in an industry which calls for innovation to make railway transport greener, more efficient, cheaper, more attractive for passengers. I think last year was by far the year of hydrogen. Alstom launched a hydrogen train back in 2014 and 2015. We had the first prototypes in 2018 in Germany. Only last year did we see all European countries and all European operators finally recognize that hydrogen was the or one of the key solutions with the end of diesel. We launched prototypes in Germany, but also in other European countries, Italy, Austria, France. There's Poland also, where we've been testing. The U.K. as well. We're working on train renovations there to switch to hydrogen. Being part of this transition is really important. The old generation trains are going to be phased out, and we very much want to be a pioneer. We're talking about greener technologies, and of course, we talk about digital. In 2020 and 2021, we're seeing an acceleration of autonomous trains. They've been around for a long time, and they've benefited. It is much easier to have an automated metro which always runs on the same tracks in a fully secure and closed environment. When we talk about an autonomous train, it's in an open environment, which calls for much more technology because these trains have to know how to detect signaling, obstacles, understand, interpret signaling, which is normally done by the drivers. We had a test in Germany on regional trains with ATO. ATO is automatic train operating. The purpose is not necessarily to save money and not pay the wages of a driver. Automatic train driving makes operations much safer. It optimizes the acceleration, the deceleration of the train based on traffic, based on the time left to reach the final destination. You can improve or save up to 10%-15% of energy. In France, we've introduced a program with SNCF on freight trains that are also autonomous. We're using artificial intelligence, for example, to recognize different components along the tracks. Let's come back to the operational performance. As I said, Alstom improved its performance. We had a strategic plan called Alstom in Motion, and the objective was a margin of 9% in the coming years. We were well on track to reach that margin. This year, we would have reached the 8% figure because we've improved our projects, we've improved margins, there have been structural cost savings, and there is the good performance of our Chinese subsidiary, CASCO, as well. Much for the past. 2020 and 2021, a very busy and intense year for all Alstom employees. Let's look forward. 2021, 2022, all the way through 2025. In July, we launched a new strategy, Alstom in Motion 2025. The purpose is to become a new leader in the transport business by 2025. Why do we have this ambition? Well, first of all, because we have a very solid position. As we are speaking, we are the biggest western manufacturer of railway equipment, a bit smaller than our Chinese competitor, but substantially larger than other western companies. What's important is not so much size or global size. What is important, first and foremost, is that we have become a truly global company. We're present everywhere. We have a very solid footprint globally in terms of execution, production, management of projects, engineering. We're present on all continents. That is making Alstom a unique company compared to its peers. Our business profile is very balanced. Rolling stock, signaling, systems, and services. Services being really important for the company. We have over 1,000 customers. We're not dependent on a single or a few big companies. We also work with nearly 300 large cities around the world, and a huge backlog, which is at an all-time high, and that gives us a lot of visibility, once again, going forward. Let's now take a look at our priorities. There is, of course, the strategy, Alstom in Motion 2025. This is going to be guiding us forward for the next four years. I'm going to come back to the different pillars that compose this strategy. In the meantime, we have a more short-term priority, which is, of course, to integrate Bombardier. Bombardier is a transformative acquisition, and we will have to work hard to transform Bombardier and generate as many synergies as possible for our customers, for our employees, and for you. Now, let's take a bit of a helicopter view and look at the overall market context of this acquisition. It is a very favourable context market wise. This could be a bit surprising to you. The world has been impacted by a major economic crisis. All governments, all authorities, have decided to accelerate the mobility transition for more green mobility, and all governments today are investing in this. Here are some interesting and very impressive figures. In Europe, in the U.S., Canada, India as well, worldwide, huge amounts of money are being invested in this green transition. Of course, COVID-19 is impacting us every day, everywhere. The climate, so is the climate crisis, and it will be with us for years and years to come. Huge efforts will have to be made to deal with this climate crisis, and the train is one of the solutions to better manage climate change. There are more secular changes with urbanization. Urbanization is continuing everywhere around the globe, and this calls for investments again. As you all know, massive investments are being made in the Greater Paris area and the Grand Paris, and this will continue, and the same thing is happening in big countries, emerging countries like China and India. In those countries, there is a lot going on in urban investments and urban developments. Let's take a quick look at our strengths and assets. First of all, we have a strong solutions portfolio. As I said before, Alstom has a very strong geographical footprint, but we also have a very strong technological footprint. Today, customers want solutions that meet their specific expectations, that fit in their infrastructure, and that meet all their requirements. To do so, we need to offer a very large portfolio of solutions that we can combine. That way, we can offer either off-the-shelf or standard equipment, but we also want to provide equipment that can be tailored to meet the specific requirements of customers. This is true for all railway, all rolling stock, metros, light metros, people movers, shuttles, high-speed trains. Of course, the same thing's true for services and the operations part, which is coming from Bombardier signaling, urban signaling, long-distance signaling with all kinds of technologies. We have different platforms that are very well-known. Regional platforms, for example, urban platforms, the Metro Coradia, Innovia, the Traxx locomotive coming from Bombardier. These are very well-known platforms, very well-established platforms. We can combine them to develop products that are completely dedicated or tailored to specific needs and requirements. We have produced, with these technologies, high-performance trains, and the purpose is, of course, not only to be more efficient cost-wise, but it is also to offer simply the best-performing trains in terms of energy consumption, in terms of weight, in terms of noise, in terms of recyclability, environmental performance, and footprint. Our portfolio of products, there again, enables us to seek the very best performance. As a company, more than ever, we have to be agile. We have to combine the technology portfolio with a footprint in different geographies. More and more countries are asking for localization. This is very much embedded in our strategy. Whether in India, it's made in India, the same thing exists in the U.S., Mexico, for example. All countries are asking for localized products. Australia. This is what we could call a heavy trend. Thanks to our strong footprint, we have engineering centers and plants in different countries. We have technologies available in all these countries, and this allows us to develop the best in breed for our customers and produce all the products where customers want us to produce them, generally on-site, locally. This is illustrated on this slide. This is our global footprint. It shows our rolling stock. We have rolling stock sites on all continents. We're present in over 70 countries, and this is really important for train production, but it is also important for maintenance. When you sell a train, trains can be used for 30, 40, 50 years. Customers, of course, expect us to be there to provide maintenance for that duration, upgrade trains, retrofit trains as they go. Having this solid geographic footprint is absolutely essential. They know they have experts on their side. We call this customer intimacy. This is going to play an essential role in our future success. We combine technology and a local presence. Product lines. The ambitions are all different, even if they fit into our overall ambition. For the rolling stock, there is a major challenge in terms of execution. It's a complex long-term project. Yes, we want to grow, continue growing, and it's very important in the rolling stock that we make sure that we commit to our engagement and that we deliver the trains as promised. For signaling, it's more of a software platform. Here, we have to grow rapidly. We may have economies of scale. Thanks to Bombardier, we will benefit from it as well in order to be able to sell those software platform worldwide. Services, this is a core business for our strategy. It's a maintenance, a regular business, be it in terms of workload, because in a maintenance contract over 15 or 30 years, well, it's a good addition to the rolling stock. Without rolling stock, it's not possible. At the same time, the rolling stock has a more volatile activity, showing risks of execution, and therefore, we need to have a balance between both activities. That's very important. Innovation, a few words. Thanks to Bombardier acquisitions, we doubled the figures, the investments for the innovation. We'll have over 9,500 patents, over 7,000 specialized engineers in the digital world. We want to streamline this portfolio. If Bombardier and Alstom were to develop the same type of solutions, now we're going to develop only one solution. This way, we'll have some leeway to be able to reinvest in new solutions and to speed up the development. This is a very strong message, of course. Innovation is at the core of our market today. Innovation because the sustainability requirements are very high. I'm not going to come back to our hydrogen train, we need to have savings as well. Battery is part of this. In the durability, we are talking of materials and the digital systems as well. That's the second point, enabling us to optimize the infrastructures. The construction of infrastructures is costly, it takes some while, and the goal for the operators is to optimize the existing infrastructures. In order to do so, we can combine more performing digital systems and more efficient rolling stock. Paris, Lyon, 13 trains an hour, we are going to move on to 16 trains per hour thanks to the digitization of the segment. Thanks to the TGV of the future, we're going to increase the capacity of each train by 20%, 25%. Altogether, we'll increase by 40%, 45% the capacity of Paris, Lyon without impacting the infrastructure. That's the goal, the combination of sustainable efficiency and digital technology. The idea is not to impose upon people the idea of taking the train, on the contrary, they should be attracted. Therefore, we need to improve the experience of the passengers, have reliable and inclusive passengers. We want to make sure that everyone can take the train, we think a lot with the operators to make sure that everyone can feel at ease on board the train. It's one topic which is important in the innovation field, we can admit that the modern trains are more connected than the previous ones. As far as the transformation is concerned, we've been talking about products and innovations, internally, there is a huge work to be done. First, we need to digitize the company. A lot of work has been done within Alstom and was done in the last few years. We have to benefit from this work and deploy it in the factories and in the centers of Bombardier. We have to speed up the automation. Digitization relates to our processes, but we also have to make them automated. It took us some time to have our processes automatic. You can imagine that a train, of course, is not small. You cannot just handle a train as if you were handling a car with a robot. We need to imagine very specific robots for our trains. In the last manufacturing line of the TGV of the future, you have a number of robots speeding up the process, and it has to be designed in a very specific way for the railway sector. The execution of projects, I said it's key. Management, the rigor, customers really at the center of our priorities, the best supervision and control practices. That's our daily bread, our daily work. That's our core expertise. How can we execute our projects well? We have to leverage our footprint, I said, to serve our customers, of course, but also to optimize the production centers. When we have a choice, when it's not imposed upon us by a specific regulation, we have to be agile and decide which is the best site to produce such and such functions, specialize the sites, especially for the components. The DNA of Alstom is durability, is a greener world. This is very important for us, and that's more and more the colleagues joining us. They join us because they have this ambition of sustainability. They want to take part in this green movement in the implementation of a more sustainable world. First, the decarbonization of mobility, the reduction of energy, of course, in our solutions, very clear objective, 25% less. The eco-design for the sustainability and durability of components. We withdraw lead and chemical substances which are hazardous. Decarbonization of transport itself. Within our company, we want to be an engaged employer for the safety of our employees, the diversity of our employees. We are now a certified top employer in a number of countries in the world. We are also working at our communities. Transport is an integral part of the daily life of millions of people throughout the world, and we wish our sites to work at improving the daily life of communities surrounding the sites. We have a foundation, we work on it. We fit into the local fabric. Of course, we take on board our suppliers with us along this line. An update on the Bombardier Transportation integration. As you can imagine, it's a very important topic. The acquisition took place on the 1st of February. We are working hard with both companies. We integrated both organizations. There is a single organization now. The organization is working, the employees are satisfied with this new organization. They are satisfied with the integration. They feel positive and are ambitious for the new group. We've got a roadmap, and we set up the basic processes in order to work correctly. By the way, it was shown on the first quarter with a major order taking. I was in Germany yesterday, and customers gave a positive feedback on this integration. There is always a risk in this type of integration to be focused within the company, and not customer-focused. I can tell you that we had a positive feedback from the customers. It goes along the right line, and we try to keep repeating that we should never forget the customers, and we have the proof for that, we have a positive feedback. Somehow there will be three steps in this integration. The first step, the step on which we focus completely is the stabilization of Bombardier's portfolio. We knew when acquiring Bombardier is facing difficulties, or faced difficulties, operating difficulties on the first day. We wanted to stabilize those projects, and I'm very sensitive to the feedback of customers. It's important for us to restore a trust-based relationship. Alstom has a good relationship with most customers throughout the world, and now Bombardier portfolio should have the same good relationship. That's the priority. Second priority, which is in parallel, of course. It's not sequential priorities, but is in parallel. We are working at having just one group. What I'm saying is meaningful only if we can combine our technologies and our size between Alstom and Bombardier, and we have to speak this as single voice and have the same tools, and we should no longer be able to distinguish within Alstom what comes from Bombardier and who comes from Alstom. Well, this part is progressing very well, more rapidly than what I would have thought. There is a real determination to deploy tools worldwide. Trains start being developed with mixed teams. When we work on tenders, we see in the train and the proposals we submit to customers, we combine the technological items from one group and other items from the other group. That's very satisfactory to see that our technical and process experts succeeded in communicating together between both companies in order to offer something better than if we would have offered that on our own. Thirdly, we will have a company which will work perfectly, and we will benefit from the full potential of this group and the leadership. It's here not a matter of knowing whether we're going to rationalize industrial footprint, but we'll focus on innovation and how it will be possible to convert the railway transport in offering regular innovations and being always ahead of time. It will take some time, four or five years. We communicated on EUR 400 million synergies. We confirm this figure, and it takes a while, of course. It's four years. That's rather long because we work on mid- and long-term projects. It requires a lot of work, a lot of efforts, but the market, which is buoyant, and the potential which is here, are very attractive. We're going to do this and construct this group together. Altogether, to conclude, so markets dynamics, momentum which is unique and confirmed every day. It is unprecedented. The climatic challenge is such that, and we can see that every week, you know the problems and the disasters caused by this climate global warming. The governments are more and more aware of this problem, and therefore the market is buoyant, and we have a responsibility because we are leaders in this field. Our positioning is unique. We have a very good positioning, be it in the technologies and in the geographic coverage, and that's where we have our strengths, and we should be able to offer a customer in Thailand things which have been developed for Brazil. Countries progress at a different pace. Germany is progressing more quickly on hydrogen, and a few years later, we offer France and Italy and Great Britain the products. It's thanks to this geographic coverage that we can be close to the latest innovations, and countries do not have necessarily the same concerns at the same time, but we can benefit from that. Innovation, of course, this is key. I said it. Let me repeat it. It would be meaningless if we didn't want to innovate and offer better solutions. A lot of work, of course, that was item four. A lot of work. Very enthusiastic teams, engaged teams, very ambitious teams. A lot of integration work being done, and we do this work with a lot of positive impacts. We have financial objectives, of course, 5% growth, so multiply by 2 compared to the market growth, cash flow above 8%. To conclude, your stock performance over the last year, it was satisfactory over the full year, almost. You know that during the capital market day, as we announced our plan in July, the stock price declined. It was due to the efforts we have to make to incorporate, integrate Bombardier. It's a lot of efforts, we knew that. There is no surprise. The full confidence in the value creation resulting from this integration is going to take some time. That's why the stock price declined in July. For our shareholders, while it was completely renewed in the last few years, you see that the structure is stable. We enter into this new cycle with Caisse de dépôt et placement du Québec as our major shareholder, 17.5%, and the institutional shareholders, 79%. In a few words, that's what I wanted. Standing to give the floor to Laurent Martinez, who is going to give us some details. Good afternoon to you all. Thank you, Henri. Let me start by reviewing our income statement of the financial year 2021 for the group. As Henri said, this fiscal year included two months of contribution from Bombardier Transportation. This year, we achieved sales of EUR 8.8 billion, down organically by 4% compared to last year. The adjusted operating profit achieved EUR 645 million, 7.3% of adjusted operating margin compared to the 7.7% of last year with, as indicated previously, a combination of an improvement of Alstom's profitability on its legacy scope to 8% and a contribution from two months of Bombardier Transportation to 2.7%. Going below the adjusted operating profit, we had limited restructuring charges, EUR 14 million. We recorded EUR 117 million transaction costs related to the acquisition of Bombardier Transportation and EUR 84 million amortization of the purchase price allocation, mainly related to the acquisition of Bombardier Transportation. Additional costs related to COVID-19 for the first half year of 2021, EUR 68 million, and a mechanical effect, the reversal to the usual mechanism of reversing the equity contribution of our Chinese joint ventures, EUR 50 million. The operating income is the one you see here, and our operating results reached EUR 300 million. Below operating income, our effective tax rate was 27%, EUR 68 million lower than in the previous years, and EUR 83 million, slightly lower than the EUR 102 million reported in the previous fiscal year due to lower contribution from TMH. Then the adjusted net profit from continuing operations, EUR 301 million after excluding the after-tax PPA of EUR 61 billion. Let's take a closer look at the liquidity position. It's EUR 4.5 billion at the end of March, strengthened by the setting up of renewable or new revolving credit facilities. Our balance sheet remains solid. The capital increase in the autumn, about EUR 2 billion, was successful. We successfully completed a senior bond issue of EUR 750 million in January 2021. Recently in July, another senior bond issue in two tranches of a total amount of EUR 1.2 billion with a maturity of six years and nine years. Moody's has confirmed Alstom's Baa2 long-term rating with an outlook which has been raised from stable to negative. Last point I wanted to address this afternoon is dividends. The board of directors proposes a dividend of EUR 0.25 per share, which is a dividend payout ratio of 31%, and the shareholders will have the choice between payment in cash or in new shares. So much so, for my presentation. Thank you for your attention, and I'm going to give the floor to Yann Delabrière, our Lead Independent Director. [Non-English content], Laurent. Thank you, Laurent. Ladies and gentlemen, dear shareholders, I am delighted to speak about the Nominations and Remuneration Committee report. I would like to start off by giving you a quick reminder of the prerogatives of the committee. There have been no changes. The committee is responsible for making recommendations, proposals to the board regarding the governance of the company, how the board operates, how managing teams operate, succession planning, as well as remuneration of the members of the board, Henri Poupart-Lafarge. We supervise the remuneration of the entire management team, as well as employee shareholding plans. Let's take a look at the activity of the NRC. We've held five meetings in total, with all members of the committee attending all meetings. As you know, all the members are independent committee members. We covered all the topics which I have just described, which fall within its remit regarding governance, the composition of the board. We've reviewed all executive action plans. We have worked on the company's governance. We have regular meetings as the lead independent director with all shareholders, including institutional shareholders, as well as regulatory changes that have really changed with the health crisis. I'm going to detail the governance-related topics, and I'm going to be even more specific on remuneration. As you know, remuneration questions are going to be submitted to your vote today, and Mr. Poupart-Lafarge's remuneration, as well as the remuneration of all the other directors and their remuneration ratios will be in resolution number 11, as well as the remuneration reviews for the past year. Last but not least, we will talk about employee shareholding. We will talk about the long-term shareholding plan, the recurring one, which we've had every year so far, as well as the specific Bombardier integration plan, which was approved during the general assembly in October 2020 and then later deployed. Let's go in a bit more detail. As far as governance is concerned, as you know and as Henri Poupart-Lafarge said, the composition of the board of directors changed significantly over the past year with the arrival of CDPQ, Caisse de dépôt et placement du Québec. As you know, CDPQ has asked to have two new board members. Their mandate was approved during the general assembly of October 2015. Mrs. Thomassin and Godin. We have, of course, reviewed their profiles before submitting them to your vote, and we've later conducted their integration. Another important change in the board, again, this followed your vote in July 2020 regarding the modification of our statutes. Two employee representatives were elected, and we've also worked on their integration, which we felt was particularly important. They went through an induction program in terms of governance and leadership. The new leadership team is, of course, very important and has kept the NRC very busy. We've monitored this very closely with Mr. Poupart-Lafarge. I would like to come back now to the remuneration. As you know, remuneration is submitted to your vote. Please allow me to detail the remuneration. First of all, starting with the remuneration policy of the chairman and CEO. We are asking for or submitting three changes to your vote. In October 2020, you approved the suppression of the integration of Bombardier, sorry, in the compensation and remuneration of Henri. This component, this exceptional item, is no longer applicable today since this item has now been completed. We are removing this exceptional component from our policy. As far as Henri's fixed remuneration in resolution 9, we would like to increase it from EUR 850,000- EUR 950,000. The committee has submitted this change to the Board. Of course, it is based on the significant change of the scope, the size of the company. The size was doubled. We've, of course, done a benchmark with other French industrial companies that have a similar size, and with a long-term vision in mind. As you know, we make very few annual adjustments. We only make periodical reviews, which are then kept for a significant number of years. Last but not least, we have a technical modification that we would like to make. Normally, performance shares are allocated at the end of the fiscal year, which means normally in March. With the very recent integration of Bombardier, this has not been possible for the fiscal year 2020-2021, as you will see in a moment. The new practice or new system that we would like to adopt for Henri, as well as for the other directors and executives, we would like to allocate these shares at the beginning of the next fiscal year. This would typically be in May or in July. As far as the remuneration policy of the members of the board of directors is concerned, no major changes except for a drafting adjustment. We had three committees which were receiving remuneration, as Henri said. We have created a fourth committee, which is going to supervise the integration of BT. We have therefore decided to remunerate this committee with the same terms and conditions as the other committees, for which the terms and conditions remain unchanged. Much for the highlights of these changes. Let's look at the detailed draft, resolution 9, which has to do with the remuneration policy of the executive corporate officers. It is presented here in detail, and as you can see, there are only three changes, the ones I just indicated, the amount, the exceptional item, which is being removed since it has been completed. On the following page, please. The other elements which remain unchanged. The calendar change has nothing to do with the actual remuneration policy for this year. Moving on to the remuneration policy of the board members, all numbers remain unchanged. The numbers remain unchanged, as well as the breakdown for each of the members. As I said before, we now have a new committee, which covers all committees, including the BT integration committee. The following resolution is resolution 11. This one is somewhat technical. It has been introduced with a new ordinance of November 2019. It is coming from a European directive, and it is very much in line with what I just described before. It actually adds the equity ratio, so-called equity ratio, which compares the remuneration of the CEO to the average remuneration of employees. We've decided to take, as a reference, the employees of Alstom France. Pre-BT, before the integration of BT, we didn't have the time to integrate BT in this ratio, and those equity ratios are presented to you in resolution 11. Moving on to resolution 12 now. This will be the last one I will share with you. This one has to do with the remuneration of Henri Poupart-Lafarge in respect of fiscal year 2020-2021. It will be submitted to your vote. The fixed annual remuneration, its reference amount is EUR 850,000, which was unchanged. Upon proposal of Henri, the board of directors, back in May 2020, reduced his remuneration by 25% for Q1 2020-2021. The executive members also accepted to reduce their remuneration in a voluntary way and similar way. This reduction yields this new number, EUR 796,883. As far as the variable remuneration, all the details are provided in the reference document, which has been shared with you. I am quickly going to summarize the details of the variable remuneration. As you know, the variable remuneration criteria is divided into two categories. We have global performance, first of all. Global performance means the operational and financial results of the company, as well as environmental performance and CSR, corporate social responsibility. These performance criteria represent 60% of the variable remuneration. The targets, only 47% were reached simply because even if the results of the company were good, they were impacted versus our budget, which was our reference, simply because of the COVID-19 crisis. This explains why Mr. Lafarge is receiving 47% for a target at 60%. Individual objectives involves more personal items, the implementation of the company's strategy, the acquisition of Bombardier, for example, as well as the commercial strategy of the company, of course, the operational results of the company. Last but not least, the management of all teams and the quality of the overall management of the company. The committee has asked the board of directors, which accepted, and we're submitting it to your vote today, 46.6% for a target at 40%. This is a clear sign of how the board of directors is perceiving the performance of the company's management. Total variable remuneration is EUR 795,600. Benefits in kind are limited. They remain unchanged. On the following page, we have performance shares. As said earlier, there have been no performance shares this year, simply because all performance share plans were postponed following the meeting of July 2020. No performance share allocation or attribution whatsoever in 2020, 2021. Last but not least, the non-compete undertaking. No changes there and no payments. As you know, we have also suppressed all significant supplemental pension scheme items a few years ago. Henri is only receiving or benefiting from the specific provisions of Article 83, which is the same as the pension or scheme provided to all other white collars. These are the different resolutions we're submitting to your votes. With that, I believe I'm done. Back to our chairman or Mrs. Sylvie Rucar. Henri, up to you. Well, before giving the floor to Mrs. Sylvie Rucar, I would like to remind you that for those of you who are listening to us from far, from a distance, please feel free to ask questions. We're happy to take your questions. Over now to Mrs. Sylvie Rucar on the Audit Committee. Ladies and gentlemen, shareholders and president, it's an honor for me to chair the Audit Committee of our company. I've been doing so for three years. On the 30th of July 2018, that was my first day. We have three members. Two of them are independent, according to the AFEP-MEDEF code, one of the three members representing the major shareholder, the Caisse de dépôt et placement du Québec. Our role, set by the internal ruling, is to assist the board of directors with overseeing issues relating to the preparation and control of financial and accounting information. We see to the quality of the published financial information and the processes of risk controls. We had four meetings with almost 92% attendance. You have the detailed activity report of the Audit Committee on page 210 of the universal registration document of the fiscal year. The financial manager, the control management, the accounting managers, they are all invited to the audit committee systematically, and other managers on an on-off basis, according to the topics addressed, and especially the general counsel participating into the audit committee regularly. The statutory auditors are present at each meeting. I meet them each month to make sure that they are independent and see to the relevance of our exchanges. Here, for this financial year, the salient point of our activity were as follows: The committee examined the statutory accounts on the 31st of March and the half-year accounts. Based on the work done by general management and the statutory auditors, the committee see to their relevance. With the integration of Bombardier Transportation, we specifically reviewed the key steps of the process, especially the setting up of the opening balance sheet and the allocation of the acquisition price. The committee reviewed the budget of the year 2021, 2022, and the financial aspect of the strategic plan over four years, right up to 2025. Like each year, the Audit Committee reviewed the main risk of the group and assessed the management procedures of this risk. Two of the 10 main risk, the IT risk and the contract management risk, were reviewed in depth, highlighting the risk mitigation mechanisms put into place by the group. The deployment plan of the enterprise risk management was presented as well. The Internal Audit Manager presented the different reports of activity on the half-year and full-year basis, the program deployed during the year and the corrective actions coming from the achieved audits. The Committee reviewed the internal control procedures within the group and the assessment done by the company through the assessment or appraisal forms, annual forms. The results of the action plans were presented to us, and we made sure that they were in line with the objectives. The committee examined the fees paid to the statutory auditors, made sure that they are independent, and that their work fits into the directives set by the company. We reviewed renewal terms and conditions of the statutory auditors, and their mandate expire at the end of this general meeting. We reported to the board of directors. We focused on the essential points, and we submitted proposals for improvements. This is it, shareholders and president. Thank you for your attention. Sylvie. Sylvie Kandé de Beaupuy, Chairwoman of the Ethics and Sustainability Committee. Ladies, gentlemen, shareholders, Mr. President. It's an honor for me to chair this Ethics and Sustainability Committee. I've been doing so since 2017. We have three members, independent directors, according to the AFEP-MEDEF code. The missions of the committee were modified in July 2020 further to a board of directors meeting based on the results of the assessment. They wanted to strengthen the visibility of ethics and compliance topics and sustainable development as well, environmental topics too. Those topics were put on the agenda of the board of directors twice a year, and the scope of my committee was enlarged, and we concentrate on ethics and compliance and the management of human rights as well. The committee was renamed Ethics and Compliance Committee. Our role, as described in the internal ruling, as implemented and modified in July 2020 to take note of this new scope, is to review and make recommendation to the board of directors on those topics. The committee, as part of its current missions, has a lot of duties. First, the committee reviews the definition of the core values of the group and its ethics and compliance policy. It reviews the organization of the ethics and compliance function, which fits into the legal management. It reviews the codes of ethics and the rules and procedures put into place, receives on an annual basis, a presentation of the risk map concerning ethics and compliance, and of course, it is informed of some shortages and problems in that field, and review the action plans put into place. We look at the integrity program of Alstom and the code of ethics. During the fiscal year, we held three meetings with attendance rate of 100%, and the detailed report is on page 213-215 of the universal registration document. The general counsel and the compliance manager, before the modifications of the attribution of the committee, and the CSR and sustainable development manager took part in the meetings of the committee. What have we been doing? What have we been doing in the last financial year? The committee reviewed the ethics and compliance plan with the integration of Bombardier Transportation. The committee reviewed the goals and performance indicators of the group ethics and compliance, and we looked at the program, including the new 2020 code of ethics, the group's instructions, the training and awareness efforts. We reviewed the deployment of additional resources given the acquisition of Bombardier Transportation and the resources the department needed, the certification of the ISO 37001 standard for anti-bribery management systems, the renewal of the certification, and then the risk map of the group for sustainable development. Before the shrinking of the scope of the committee, the committee examined the evaluations conducted by the non-financial rating agencies, monitored the group performance in terms of sustainable development, environment and workplace safety, and reviewed the main non-financial indicators used by the group. After those meetings, the committee reported to the board of directors, and we shared our comments on the essential points as well as our improvement proposals. Shareholders, ladies and gentlemen, President, thank you for your attention. Thank you, Sylvie. We're now going to get Mr. Frank Mastiaux, who is on a video. Unfortunately, he could not be with us, therefore, his message is recorded. Good afternoon, ladies and gentlemen. My name is Frank Mastiaux, and I'm the Chairman of the Integration Committee of Alstom Bombardier Integration. I would like to take the opportunity to briefly summarize for you the activities of this committee and give an update of all the activities that Alstom has undertaken so far in the context of the integration of Bombardier. To begin with, a few words on the integration committee itself, which was established on the 29th of January 2021. The purpose of this committee is it to facilitate and to foster and monitor the integration of Bombardier, give guidance to the operating team on the ground, and provide transparency and assurance to the main board of Alstom in all matters related to the integration itself. The integration committee intends to meet four times a year for an initial period of two years, then we will see whether we need to continue. In the fiscal year 2020 and 2021, we have met once in February with a 75% attendance rate. Just for information, we very recently met in June. Out of the four attendants, two members are independent directors. Ladies and gentlemen, Alstom has chosen and set up a very comprehensive and well-structured approach for the integration of Bombardier related to the team, to the organization, and the processes chosen. Essential team of seven experienced members are working to coordinate the entire effort, led by the chief strategy and integration officer. In the decentralized arena, 20 permanent integration leaders take ownership in the regions, in the product line, and report to the respective functional presidents and officers. The comprehensive approach of this integration is supported by four dimensions and priorities set by the Integration Committee itself. Number one, people and change. Number two, target operating model deployment. Number three, the processes and IT tools conversions. Number four, the value capture. On those four dimensions, a lot of progress has already been made during the first half of 2021. I quickly will go through these in detail. Number one, people and change. With the purpose of fostering a sense of belonging from all employees and ensure engagement of all parties. This has been a very important pillar, and it was launched immediately as a business-critical initiative. Over 500 customer organizations and 25 partner organizations have been contacted immediately, and the company received positive feedback for these efforts. In the upcoming customer satisfaction survey, we will have a particular question related to the quality of the integration efforts. It is important to get everybody on board on day one, ideally. Hence, contact have been made to the people across the different heritages of the new entity. Six international team talks, where 7,000 top people were connected to, and 1,500 of them were actually contacted directly. This is a matter of business continuity and therefore, taken very serious. Related to the people, to onboard them in the best possible way. So-called discovery challenges on iLearn have been produced and enabled with more than 358,000 hours already executed, with a total number of 46,000 learners being active, and almost 1 million connections have been made across this community. A cultural diagnosis has been executed in the ex-Alstom and in the ex-Bombardier community, with over 500 interviews to figure out what the starting points are and where the convergence efforts have to be going. Another area has been, importantly, the global rebranding of all sites, of all appearances of the new entity, and a dedicated plan has been outlined for the upcoming month and years on the basis of audits locally and more audits to be scheduled for the time to come. The second pillar, importantly, is this target model of deployment to ensure the deployment of the target organization at the corporate and the regional level. In this particular instance, between the level N-1 of the board and N-4 of the board. In those levels of hierarchy, 8,000 people have been positioned and nominated, and further 75,000 people have been mapped as new employees of the company. The third pillar is the processes and IT tools convergence. It was important to create common digital environment from the beginning, a joint HR database, a joint intranet, and to have that done and delivered for a first joint end-year closing report. Another important tool will be the global spend tool to enable procurement synergies very quickly. For this IT tool convergence, a roadmap has been designed for the next three years, and the priorities are set for year number one. This is a complex undertaking, and a particular focus has been brought on the matter of cybersecurity with an assessment completed and a remediation plan established. 125 priority processes have been identified, of which 50% have been deployed early June, and 85% will be deployed by the end of this calendar year. Quality and internal control functions have been established to monitor the convergence of this process management accordingly. Another important matter is the legal entity structure that have been looked at. 90 top priorities countries have been identified, and to look whether to share, transfer, to merge, or liquidate legal entities. Priorities have been set accordingly for year one, with a clear plan for the year two to year four time period. Finally and importantly, the ethical walls that are necessary for the concurring bids of the former Alstom and the former Bombardier organizations are up and running with 2,500 people being already trained. Final pillar in the integration is the so-called value capture, to make sure that we execute after we have identified and planned the initiatives to capture the synergies and the value from the deal itself. It was important to create that commercial momentum to look at project convergence and importantly, project stabilization efforts. 120 review and deep dives have been completed on the project side. Task forces have been deployed to the critical ones to provide technical expertise, manpower, and project planning to ensure timely delivery of the promises made before. First positive impacts materialized, for example, improving the delivered reliability, increased production rate, and stabilize the increase of the quality. In summary, the overall integration, the approach that has been taken by Alstom was well-structured and well-executed from the first moment of the integration, and this well-structured plan starts to pay off. On the people side, we could see good energy coming from the entire workforce, regardless of the heritage of the people, where they came from. It is of essence to maintain this people engagement in the time ahead, because people are at the core of the new enterprise, and it's important to make sure that we retain the talent and keep everybody motivated to go forward with the new enterprise. From the initial phase, it has been clear that a top priority, amongst many others, over the next coming month will be to look at the project stabilization and make sure that all projects that are in the pipeline are delivered according to plan. Ladies and gentlemen, this was my brief summary on the integration so far. I thank you very much for your attention. [Non-English content], Frank. Thank you, Frank. Thank you indeed. Over now to our statutory auditor, Mr. Jean-Luc Barlet from Mazars. [Non-English content]. Thank you. Ladies and gentlemen, dear shareholders, in the name of PricewaterhouseCoopers and Mazars, I would like to report back to you and share the conclusions of the report for the fiscal year closed March 31st, 2021. As always, I'm going to summarize the main elements and highlights and conclusions. They have been shared with you by the company, and they are in the universal registration document 2021, as well as in the notice sent to you for today's event, as well as on the website. I would like to remind you that our mission is an ongoing mission. Our audit work is based on risk, which risks that are likely to have an impact on the quality of financial and accounting information. We assess the quality of internal control and more specifically of operational controls relative to the quality of accounting elements, as well as the collected documentation and the results of detail analysis and analytical results. This is what we use to produce an honest opinion based on the information we receive. Throughout our entire mission, we report back to the company's management as well as to the Audit Committee in order to share our views on the risks and fact-finding. We have an international network for PricewaterhouseCoopers as well as Mazars, an international network which allows us to operate as well in all countries where the company operates. We have reported back during May 7th, 2021. We've had periodical contacts throughout the year. In summary, the main points of attention for 2020-2021 focused on three areas, the accounting of sales and margin on long-term contracts, the assessment of litigations, disputes and investigations, and the determinations of assets and liabilities recognized within the framework of the acquisition of BT. We've also focused specifically on the impact of COVID-19 on the company's activities. Our first report on the ordinary part, this is on page 148 of the universal registration document on the annual financial statements. This will be submitted to your vote in resolution number 1. We've considered that security shares as well as related receivables were important. We've certified them with no reserves. We've specifically looked into the content of the corporate governance documents, and it calls for no specific comments on our behalf. Regarding our report on consolidated financial statements, page 122, in compliance with IFRS, this is resolution number 2, we have certified the consolidated accounts with no reserves and observations. We have considered that the main point of the audit, some of the points we already mentioned regarding significant estimations of management. We have responded in a detailed way in our report to have an independent appreciation and structured documentation. The accounting of sales and margin on long-term contracts, the assessment of litigations and investigations, and the acquisition of BT. We've also drafted a special report on related party agreements on page 249, which is resolution number 4. The objective of this report is to communicate the characteristics and modalities justifying the interests of the conventions that were shared with us or that we discovered during our mission. Our report shows there is the absence of such new conventions authorized during the fiscal year, and a reminder of the Bouygues agreement for the acquisition of BT by Alstom. Our last and final report is the report of the non-financial information statement, which is included in the company's management report. We have no comments on this report, which concluded positively and can be found on page 313 of the universal registration document. Moving to the following slide. On the extraordinary part of the general meeting, resolutions 14- 17 and 20- 27, which will be submitted to your vote. On the reduction of the capital of share, the reports on the issuance of ordinary shares or other securities reserved for members of a company or a group savings plan. Report on the share capital increase with cancellation of the shareholders' preferential subscription rights. Report on the authorization to allocate free shares, existing or to be issued, and the report on the issuance of shares and miscellaneous securities with preservation and/or cancellation of the preferential subscription right. We've established reports for delegations and authorizations to be given to the board of directors in order to hold these operations. In summary, we have no observations regarding the modalities of principle that were submitted to you by the board of directors, and we will issue a complimentary report when delegations are used, if used. Ladies and gentlemen, dear shareholders, many thanks for your attention. Thank you very much indeed. We are now going to open the floor. I would like to draw your attention that questions in writing, according to the article R225-234, have been received from the Forum pour l'Investissement Responsable and from DSW, which is a German organization of private investors. I would like to thank both. The responses to those questions have been placed on the website and will therefore not be read during the general assembly. We're going to take the questions from those of you who are present, and we'll also have an ongoing dialogue with those of you who are listening remotely. Please. Good afternoon. I would like to ask a few quick questions on the very first part on the activity report. What news do you have on industrial sites in France and Germany that were going to be disposed of following the merger between BT and Alstom? I have some questions regarding new technologies, greener technologies. You mentioned hydrogen. The cost and efficiency are sometimes questioned, but that's not really the subject of my question. We're seeing that in Germany, there have been some recent orders that historically went to the competition. I was wondering, what are some of the other technologies, batteries, for example, and other line electrification technologies that work very well, again, to make trains and railway transport greener? My very last question is specific to one country and the company's presence in that country. The country is China, of course. You compared with CRRC, and on a slide, you showed Alstom's footprint in China. My question is the following. What is the strategy of the new Alstom in China and vis-à-vis China? Are you a competitor, or do you think that there is room for partnerships? Do you think Chinese companies can be considered as partners? Thank you. Thank you very much indeed for all these questions. As far as remedies are concerned, just to clarify, yes, we're working with the European Commission to dispose of assets in France and Germany following the approval of the acquisition of BT by Alstom. This is an ongoing process. It is a long and complex one because it involves assets, potential buyers, as well as the European Commission, and of course, customers who must give their approval to this transfer and the terms and conditions of the transfer. This transfer has not been completed yet. We're working on this, and we are quite confident that in the near future, this will be accomplished. I have no specific news to give on this. As far as green technologies are concerned, well, first of all, let me tell you that yes, our competitors are also interested in green technologies, in hydrogen as well. They came a little after we did, four or five years, which shows that. Obviously, the hydrogen market and green technologies is an attractive market, whether it's electrification, batteries, or hydrogen. All three make sense to a certain extent. I don't want to go into too much detail at this point, but what I can say is that hydrogen works very well for longer distances. Longer distances being 100 km or more, with no electrification. Batteries is for shorter distances, 50 km-80 km. Electrification only makes sense if lines have a lot of density. Electrifying costs a lot, and only makes sense if we have a lot of traffic. We are active in all three technologies, and we have no preference for one of these technologies more than the others. You referred to a battery contract, which went to the competition recently. We have contract on batteries in France and Germany. As a matter of fact, there are hybrid trains that use diesel technology as well as batteries. I think that at the end of the day, all three solutions will be used. I know that in Germany there is some line electrification. There is some hydrogen technology, battery technology. There is room for each of these solutions. Moving to your last question on CRRC in China. Well, let me say two things. First of all, China is a massive market for railway, and high speed and urban rail. We are very active in China. As you saw on one of the slides, we have a lot of co-companies, co-enterprises in China. We have CRRC, but not only, we also have other partnerships on signaling, for example. Alstom is a leader in urban signaling with its CRSC, which is another Chinese railway company specializing in signaling. We have a number of other partners, private partners, or more private partners on specific components such as traction and so on. In summary, yes, China is a big country in the railway business. Our industrial footprint has several objectives. First of all, we would like to serve the Chinese market, but as we said, we would also be interested in using this, or leveraging this footprint to serve other markets. We have two engine plants near Xi'an, and they sell and export their equipment to the Chinese market, but also to other countries, other markets in the area. Thank you. Are there any other questions in the room? Yes, sir. Please. In the meantime, let me check if there are any questions online. Yes, hello. I'd like to come back to China. The China and the Chinese, they're very nice people. If you can sell things to them, well, good, as long as it's profitable, as long as they don't take business away from us. The Chinese are very good at observing and copying. They buy your equipment, they pick them apart, and next thing, before you know it, they've copied, and then they sell the same equipment. They sell the equipment to companies that we were selling to, but obviously they're selling at much lower prices given the wages paid in China. My question is, how do you manage the contracts? How do you make sure that they, in the next 5, 10, 15 years, they don't steal our technology and know-how? Do we have enough non-reproducible technologies to stay safe? Well, as I said several times during my presentation, our industry right now is seeing a lot of innovations. With BT, we're increasing the number of innovations. We're bringing new innovations, more environmentally friendly innovations, cheaper innovations. We do everything we can to protect and preserve these innovations. We have patents. You mentioned low wages. Okay, that's one thing. There is the competition in the area of technology. Our industrial footprint in China and in India, for example, is huge. India is cheaper than China. More and more, you have to be able to relocate or locate where the contracts are. We're not exactly like other industries. We are much more local in a sense. At the end of the day, what it comes down to is products, the quality of their products, and competitive products. CRRC has really invested massively. They have made all kinds of innovations, and that's what we need to do. We need to do exactly the same thing. We have to innovate. Today is not so much about stealing technology. Today is about innovating. We have to innovate, and we have to innovate faster than they do. Innovation is good for the market, and we have to be in a position to make the market greener. I'm not obsessed by CRRC. There are other companies, Japanese, Korean, European companies, and each of them individually contributes. Again, at the end of the day, what it comes down to is innovation. Number four. I cannot see properly. It's at the back of the room. Sorry. Yes. Good afternoon. Jean-Luc Champetier. I represent readers of the magazine Investir, with 2,500 shares. I would like you to come back to following question. The backlog of Bombardier, you mentioned it. Could you please elaborate on it and on the difficult projects and their stabilization? The second question on the authorization to increase the capital. It was probably going to be used during the year to come. Thank you. Thank you for those questions. First question. As I said, I said it before the acquisition, by the way, it's not a surprise, therefore. I said that Bombardier, in its portfolio, had a number of difficult projects. Why difficult? Because late, lagging behind, because not necessarily in line with the requirements of the customers. We made progress in the customer relationship. We are discussing with a large number of customers on a realistic timetable accepted by the customer, being realistic. We want to make sure, of course, that the production system can really honor this timetable. We engage experts, Alstom and Bombardier, in order to improve the technical performance of trains. A number of customers said to us that they already saw improvements. We can also mention France, Germany, Switzerland as well, where our trains reach the performance in terms of reliability. We take each project at a time. This work is not done globally. It's done country after country, project after project, region by region, one customer at a time. It will take about one or two years to get out of this and to have a healthy and normal portfolio in two years' time. We are following the roadmap. I have no fears on that. It's a lot of work. A lot of work. We already have a lot of positive feedback from the first months. That's good. Second question. The capital increase. It's a standard resolution. We usually have it in our resolutions portfolio. This resolution is there. Most companies have the same type of resolution. I cannot answer your question. It would give an indication I'm not in a position to give. The resolution has to be voted. There is no project today. I cannot tell you whether there will be project tomorrow or not. If we want to have this resolution, it's to have the possibility to do it. If we had the opportunity to do it, if we needed to do it, if there was a need for it, but for the time being, there is no project on the table. Yes. Number three, go ahead. I was just checking on the chat box. Yes. Two questions. First one, in line with the PACTE Law, do you think that you may have a raison d'être for the group, and Thales should give up its signaling business? I would like to know whether you have reviewed this dossier. Thank you. Good question. We have no project to have a raison d'être as such for the group. We are lucky somehow to have a raison d'être, which is implicit, or it's a natural raison d'être because our core business is sustainable mobility. Green mobility is our DNA. We're here to meet the needs of transportation. The transportation world has to take up this climatic change challenge. At that stage, we have not perceived a need to formalize the raison d'être for the whole group. We have mobility by nature. For the whole group, it is rather obvious. It's implicit. The vision of the group is, of course, to contribute to improving transportation throughout the planet. We do not feel the need to formalize this more than what it is already in place. On Thales. Thales, yes, of course, the signaling business of Thales is on sale. It's no big surprise. We have not examined the dossier. We, for competition reasons, you have Siemens and we, the two major signaling stakeholders and one or two other players, Thales, Hitachi. It's true that the European Commission would not probably approve an additional concentration from Siemens or Alstom, and therefore, we have not examined the dossier. Okay. Good. I do not see any other question. It's difficult for me to see properly because the room is dark. If you have no further questions, we'll move on the floor to, oh, there's an alarm clock. Okay. Emmanuelle Petrovic, okay, for the vote on resolutions. Thank you. Thank you, Chairman. We're going first of all to present the electronic voting procedure. Ladies and gentlemen, shareholders, you were given a voting device. It is strictly personal. The number of votes you hold or you represent is already downloaded in the box and displayed on the screen. You only need to use the green, yellow, and red keys. The green one corresponds vote in favor. Yellow, you abstain. Red, you vote against. After the reading out of each resolution, we will proceed to the vote immediately, and we'll say, "You can vote now." You will notice, in that case, a rectangle indicating the countdown, the number of seconds left for you to vote. Once the countdown is over, we'll say, "Vote is over," and it will no longer be possible for you to vote. The results will be displayed on a projection screen just a few seconds after the vote. Make sure that you switch off your mobile phones during the voting procedure, and make sure you give it back at the end of the meeting when you exit the room. As indicated at the beginning of the meeting, the quorum of this general meeting is 70% and 25% for the extraordinary part. The shareholders present have over 260 million votes, representing 70.08% of shares having the voting right. The quorum required is therefore reached. The resolutions will have to be adopted with a majority of votes of the shareholders present, represented or voting remotely for the ordinary session, and 2/3 majority for the extraordinary portion. I propose to present the title summarizing each resolution, provided that no one asks for a full reading. I observe that there is no objection. I'm therefore present the resolutions, and I will invite you to vote after each resolution, once I have said, "You can vote now." First resolution, ordinary resolution. Approval of the statutory financial statements for fiscal year ended on 31st of March 2021. You can vote now. The vote is over. The resolution is adopted. Second resolution, ordinary resolution: approval of the consolidated financial statements for the fiscal year ended on the 31st of March 2021. You can vote now. The vote is over. The resolution is approved. Third resolution, ordinary resolution: allocation of the results and dividend. Option to receive the dividend in cash or in shares. You can vote now. The vote is now over. The resolution is approved. Fourth resolution for the ordinary general meeting, special report of the statutory auditors on the related party agreement, absence of new regulated agreement. You can vote now. The vote is now over. The resolution is approved. Fifth resolution, ordinary general meeting. Renewal of PwC as principal statutory auditor. You can vote now. The vote is now over. The resolution is adopted. Resolution 6, non-renewal and non-replacement of Mr. Jean-Christophe Georghiou as an alternate statutory auditor, ordinary resolution. You can vote now. The vote is now over. Resolution is approved. Resolution 7, ordinary resolution, renewal of Mazars as a principal statutory auditor. You can vote now. It's over. Resolution 7 approved. Resolution 8, non-renewal and non-replacement of Jean-Maurice El Nouchi as an alternate statutory auditor. You can vote now. Vote over, resolution approved. Resolution 9, ordinary general meeting, approval over the compensation policy applicable to the chair and chief executive officer. You can vote now. Vote over, resolution approved. Resolution 10, ordinary resolution, approval of the compensation policy applicable to the members of the board of directors. You can vote now. Vote over, resolution approved. Resolution 11 for the ordinary GM, approval of the information referred to in Article L.22-10-9 of the French Commercial Code. You can vote now. The vote is now over. Resolution approved. Resolution 12, ordinary general meeting, approval of the fixed, variable, and exceptional components of the total compensation and benefits of any kind paid during the fiscal year ended 31st of March 2021, or granted in respect of such fiscal year to Mr. Henri Poupart-Lafarge, Chairman and CEO. Vote is open. The vote is now over and the resolution is approved. Resolution 13, ordinary GM, authorization to the Board of Directors to trade the company's shares. You can vote now. The vote is over. The resolution is approved. Resolution number 14, that's for the extraordinary session. Authorization to the Board of Directors cancellation of shares redeemed by the company. You can vote now. The vote is now over. Resolution approved. Resolution 15, extraordinary GM. Delegation to the Board of Directors share capital increase reserved for members of a company or a group savings plan with shareholders' preferential subscription rights canceled. You can vote now. The vote is now over. The resolution is approved. Resolution number 16, that's for the extraordinary general meeting. Delegation to the board of directors share capital increase reserved for the benefit of the category of beneficiaries with shareholders' preferential subscription rights canceled. You can vote now. It's over. Resolution approved. Resolution 17, extraordinary general meeting, authorization to the board of directors to grant free existing shares or shares to be issued with shareholders' preferential subscription rights being canceled. You can vote now. The vote is now over. Resolution is approved. Resolution 18, extraordinary general meeting, amendment of the articles of association in view of deleting provisions relating to preferred shares. You can vote now. The vote is now over. Resolution is approved. Number 19, extraordinary general meeting, harmonization and drafting adjustments to the articles of association. You can vote now. It's over. Resolution is adopted. Resolution 20, Extraordinary General Meeting. Delegation to the Board of Directors, share capital increase with shareholders' preferential subscription rights being maintained. You can vote now. Vote is now open. Resolution is adopted. Resolution 21, Extraordinary General Meeting. Delegation to the Board of Directors. Share capital increase via a public offering with shareholders' preferential subscription rights canceled. You can vote now. The vote is now closed, and the resolution is adopted. The resolution 22, delegation to the board of directors, share capital increase pursuant to an offering referred to in paragraph 1 of Article L.411-2 of the French Monetary and Financial Code with shareholders' preferential subscription rights canceled. You can now vote. Vote is closed and the resolution is adopted. Resolution 23, delegation to the board of directors, issuance of shares as compensation for contributions in kind. Please vote. The vote is closed and the resolution is adopted. 24th resolution, extraordinary resolution, delegation of the board of directors, increase of the number of shares to be issued in the event of a capital increase with shareholders' preferential subscription rights maintained or canceled. Please vote. The vote is now closed and the resolution is adopted. Resolution 25, extraordinary resolution, authorization to the board of directors, issue pricing in the event of a capital increase with shareholders' preferential subscription rights canceled via a public offering, including offerings referred to in paragraph 1 of Article L.411-2 of the French Monetary and Financial Code. The vote is now open. Please vote. The vote is closed and the resolution adopted. Resolution 26, extraordinary resolution, delegation to the board of directors, share capital increase in the event of a public exchange offer initiated by the company with shareholders' preferential subscription rights canceled. Please vote. The vote is now closed and the resolution is adopted. Resolution 27, delegation to the board of directors, share capital increase subsequent to the issuance by the company's subsidiaries of securities granting access to the company's share capital with shareholders' preferential subscription rights canceled. Please vote. The vote is now closed and the resolution has been adopted. Moving to the last resolution, the resolution 28, ordinary resolution, powers in view of completing formalities. Please vote. The vote is closed and the resolution has been adopted. Thank you very much, Emmanuelle. I would like to thank our secretary for the votes. Hostesses are available outside to collect the voting boxes you used for the resolutions. They can be used only for voting purposes and won't work at home. Once again, I would like to thank you for your kind presence and renewed confidence. Hopefully, more people will attend next year in good conditions. Thank you very much and have a wonderful day. Bye-bye.