Slides
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SHAREHOLDERS’MEETINGOctober27th2025
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“The images featured in some of the videos presented here refer to the promotion of alcohol and should not be viewed or shared with minors,nor are they authorized for commercial distribution in France.Always drink responsibly.”
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OPENINGAlexandreRICARDCHAIRMAN & CHIEF EXECUTIVE OFFICER
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Shareholders’ MeetingCHAIRMAN TELLERS SECRETARYALSO ATTENDINGLEAD INDEPENDANT DIRECTOREVP FINANCE & TECH BUREAU STATUTORY AUDITORDELOITTE & ASSOCIÉS Alexandre RICARDPatricia RICARD GIRON, Jonathan RUBINSTEIN Anne-Marie POLIQUIN Patricia BARBIZETHélène de TISSOT Marc de VILLARTAY
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Provisional Quorum
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In shares: (XX)%NB OF SHARESNB OF VOTES REPRESENTED AT THE AGMXXXXXXPOWERS REPRESENTEDXXXXXXPOWERS TO THE PRESIDENTXXXXXXPOSTAL VOTEXXXXXXTOTAL XXXXXX Provisional Quorum
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The documents requiredby the applicable lawsand regulations, whichare on the Shareholders’ Bureau, have been sent and made availableto the Shareholderswithinthe legaldelays. Legal documentsavailableto shareholders
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01MANAGEMENT REPORT
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1975: the allianceof two visionaries 1｜MANAGEMENT REPORT
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1｜MANAGEMENT REPORT YEARSOF CONVIVIALITY
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THE MOST COMPLETEPREMIUM PORTFOLIO THE MOST COMPREHENSIVEDISTRIBUTION NETWORKHIGH-PERFORMING ENGAGED TEAMS 1｜MANAGEMENT REPORT Our competitiveadvantages
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1｜MANAGEMENT REPORT Navigating headwinds Inflationaffecting consumerand purchasing behaviourWeak consumer confidence in ChinaUnfavourable currency effects:negative impact from exchange rate fluctuations Increased promotional pressurefrom competitors Rising tariffs and other restrictive measures –US, ChinaInternational conflicts and tensionsInflationary risk linked to geopolitical instability CHALLENGING ECONOMIC ENVIRONMENTUNSTABLE GEOPOLITICAL CONTEXT
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1｜MANAGEMENT REPORT €10,959mOrganic -3%NET SALES€2,951m26.9% / NS OPERATING MARGIN €1,626m+10%GROUP SHARE OF NET PROFIT€1,133m+18%FREE CASH FLOW3.3xNET DEBT / EBITDA+0.2x Resilient financial performanceamid current cyclical challenges Reported-5.5%Organic -0.8%Reported-5.3%Organic +64bpsReported+6bpsPRO
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A balanced geographic footprint that helps mitigate the declinein sales in China, the US and Travel Retail in Asia1｜MANAGEMENT REPORT -3%GROUPORGANIC NET SALES GROWTH Excl. USA& ChinaORGANIC NET SALES GROWTH +1% EUROPE -2%ORGANIC NET SALES GROWTH WEIGHT IN SALES 29%Excl. RussiaORGANIC NET SALES GROWTH Flat -3%AMERICASORGANIC NET SALES GROWTH WEIGHT IN SALES 29%Excl. USAORGANIC NET SALES GROWTH +2% REST OF WORLD -4%ASIAORGANIC NET SALES GROWTH WEIGHT IN SALES 42% +3%Excl. ChinaORGANIC NET SALES GROWTH
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1｜MANAGEMENT REPORT Gaining share in the majority of our marketsGaining or maintaining share in 12 of 17 top markets.Leader in the International Premium Plus Spirits sector, excluding the US Declinein Spain Declinein Poland Gainingin Canada Gainingin Mexico in whiskies Gainingin Brazil Gainingin South Africa Gainingin Germany Gainingin France Gaining in the UK Gainingin Türkiye Maintaining in China Cognac category and in other International Spirits Gainingin Japan Gainingin Australia Gainingin India Decline in South KoreaClosing the gapin the USA Decline in Taiwan market
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1｜MANAGEMENT REPORT Focus on ourkey marketUS Organicgrowth-6%India Organicgrowth+6%China Organicgrowth-21%GlobalTravelRetail Organicgrowth-13% Spirits market in slight growth, impacted by subdued consumer confidenceSell-out volume and value gap-to-market continues to narrow, reflecting focuson execution and strong investment behind the brands Strong underlying consumer demand and premiumisationtrendsDynamic performance on the wholeportfolio, withJameson now the #1imported Spirit brand in India Challengingmacro-economicenvironmentand continuingweakconsumer sentimentDeclinein sales of Martell and Scotch brands; strong growthfor Premium brands Full yearorganicsales in declineimpactednotablyby the suspensionof Cognac imports in China Duty Free fromDecember2024 to end of FYGTR expected to return to growth in FY26
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1｜MANAGEMENT REPORT A diversified portfolio with strong brand performances across all regions >11Mcs Organic growth+3%>12Mcs Organic growth+2%Organic growth+2% Organic growth+7%Organic growthFlat Organic growth+24%Super Premium#1 1Basedon IWSR Global Database 2025 in volume and value for 2024 for Super Premium Rum. Rum1
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1｜MANAGEMENT REPORT A perfectly balanced portfolio of premium spirits across aged and non-aged brands Mostly AnchoredTimeless & Timely Legacy & InnovationCraftmanshipPremium to Ultra Prestige Timely & FreshBold Creativity & InnovationMixabilityPremium+ Non-agedspirits portfolioAgedspirits portfolio
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1｜MANAGEMENT REPORT 1 Aged= Whiskey (excl. IndianAdmix), Cognac and international Champagne. 2 Non-aged = Other international spirits, incl. Brandy, RTD/RTS (cocktails & long drinks), and Indian Admix. Aged1Non-aged2 A perfectly balanced economic model 19% 81% 19% 81% 40% 60% 50% 50% 63% 37% 65% 35% 72% 28% 75% 25% 96% 4% Value split between aged and non-aged brands (calendar year 2024) PlayerAPlayerBPlayerCPlayerDPlayerE PlayerFPlayerGPlayerH
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1｜MANAGEMENT REPORT Continuous active portfolio management To support sustainable profitable growthCompleteddisposalsFY24 FY25 Marques nordiquesVins Focus onpremiumisation Margin accretive Announceddisposals
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1｜MANAGEMENT REPORT Partnerships deployed at scale Chivas x Ferrari To boost our key brands’ cultural relevance To explore the synergy potentialof spirits brands with experiencesTo develop culturally relevant brand associations Malibu x Dole Absolut x Ocean Spray / Sprite Jameson x Major League Soccer Kahlua x Dunkin
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1｜MANAGEMENT REPORT High-performing engaged teams
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1｜MANAGEMENT REPORT
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For asustainableand responsible growthNoémie BAUERChief Sustainability Officer 1｜MANAGEMENT REPORT
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1｜MANAGEMENT REPORT 1 In absolutevalue, sinceFY22. of key naturalingredientsproducedor sourcedin line withsustainablestandards NurturingterroirSecuringingredientsourcingand investingin ourterroirs of ourwineregionswithregenerativeagriculture pilots carbonemissionslinkedto agriculture in scope 1 & 31
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ValuingpeopleFosteringan environmentwhereeveryonewithinand beyondthe companyfeelsheard, valuedand safe 1｜MANAGEMENT REPORT 1 SinceFY22.2 Decisionslinkedto talent and payare basedperformance, meritand experience. This data iscollectedin line withFrench requirements. employees benefited from training reductionin losttimeaccident frequencyrate1 womenamongTop Management2
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CircularmakingReducingourenvironmentalimpact by workingwithoursuppliersthroughoutourvalue chain 1｜MANAGEMENT REPORT 1 In absolutevalue sinceFY22. carbonemissionsfor ourproduction sites1 carbonemissionslinkedto procurementand transport1 water consumptionintensitysinceFY18 packaging reusable,recyclable and compostable
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ResponsiblehostingPromotingconvivial and balanceddrinkingby engagingwithourconsumers 1｜MANAGEMENT REPORT people reachedby ourcampaign'Drink More Water'bartenderstrainedonsustainableand responsiblebar practices withour'Bar World of Tomorrow' program visitorsto ourBrand Homes benefitedfromResponsibleHost practices
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A new chapterin our2030S&R strategywith10 focus areas 1｜MANAGEMENT REPORT Regeneration1Sustainable Sourcing2Health, Safety & Wellbeing3Equal Opportunities4Water Stewardship5Decarbonized Operations6Circularityand decarbonized value chain7Responsible Drinking 8Consumer Offer 910Customer Engagement
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1｜MANAGEMENT REPORT Ourambitions
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1｜MANAGEMENT REPORT Underlying trends supportingthe long-term growth of premium spirits Powerful mega trends favouringhigh-potential marketsEvolving consumerneeds driving InnovationEnduring premiumisation1leveraging “less but better” +5.7%+6.8%TOTALSPIRITS MARKET+4.4%TOTAL BEVERAGE ALCOHOL MARKET INTERNATIONALPREMIUM+SPIRITS MARKET Global growth in populationof legal drinking ageGlobal growth in middle& affluent classWomen increasing shareof consumption ExperiencesSelf-ExpressionConvenience 1 IWSR ten-year value CAGR 2014 to 2024.
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1｜MANAGEMENT REPORT Our solid fundamentals THE MOST COMPLETEPREMIUM PORTFOLIOHIGH-PERFORMING ENGAGED TEAMSTHE MOST COMPREHENSIVEDISTRIBUTION NETWORK
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1｜MANAGEMENT REPORT 35%EUROPE,MIDDLE EAST& AFRICA 36%ASIAPACIFIC29%AMERICAS Western EuropeUSA19% EasternEuropeChina8% Central& South America Rest of AsiaIndia13%Africa& Middle EastOceaniac.55%Mature markets c.45%Emerging markets +160 countriesBrandsdistributed in60 countriesIn-house sales teams A balanced global presence across regionsand between mature and emerging markets
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1｜MANAGEMENT REPORT A portfolio of premium brands that coversall key categories Scotch North American Whiskey Indian whisky Irish whiskey Liqueur Tequila & Mezcal Vodka Gin RTDs Cognac& Champagne Aperitifs Rum Others Net Sales FY25split by categories(excludingStrategic Wines)
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1｜MANAGEMENT REPORT Innovations and marketing investments RTD innovationRamazzottiAperitivo Arancia 0.0%Chivas Regal Extra SmokyKahlúa Chocolate Sips Launched Comingup New in FY26 To continue driving brand equity
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1｜MANAGEMENT REPORT A simplified organization leveraging group scaleand consumer proximity, anchoring a fit-for-future structure Executive Committee with deep industry experience Global OrganisationMarket companies1 Global Functions10 Management Entities To benefit from:The Group’sscale effectMarket andconsumer proximity Global Brands Organisationalsimplification 1 North America, China, India, GTR, Northern Europe, Southern Europe, Central & Eastern Europe, Latin America, Africa & Middle East, Asia Pacific. AlexandreRICARDChairman& CEO Hélènede TISSOTEVPFinance & Tech Jean-EtienneGOURGUESEVPGlobal Brands GillesBOGAERTEVPGlobal Markets ConorMcQUAIDChairman & CEOof North America Maria PiaDE CAROEVP Integrated Operations and S&R CédricRAMATEVPHuman Resources Anne-MariePOLIQUINEVP Legaland Compliance
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1｜MANAGEMENT REPORT An industry sensitive to economic cycles -6-4-202468101214 200320042005200620072008 201920202021202220232024201720162015201420132012201120102009 2018 (% growth) Evolution of GDP & International Spirits Volume World GDP growthInternational spirits growth Source: The Pernod Ricard Market View based on IWSR data ending CY24, World Bank & Oxford Economics.
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1｜MANAGEMENT REPORT +2%+2%+4%+6%+6%(10)%+10% +17%+10%(1)%(3)% Mid-term ambition A performing model drivingsustainable and profitable long-term growth FY26FY27FY28FY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14
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1｜MANAGEMENT REPORT Average organic Operating Margin expansion of + 55bps p.a. since 2019 Consistently deliveringOrganic Operating Margin expansion 2019202020212022202320242017201620152014 2018 2025 213 52 -167-71072 -131 52328064 Organicbps Focus on topline growthFocused on profitable growth €900m efficiency programover the last 3 yearsfully completed€1bn program targetedfrom FY26 to FY29
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1｜MANAGEMENT REPORT FY19FY20FY21FY22FY23FY24FY25 3.122.663.12 4.124.704.704.70€/action €4.70Proposeddividendper share A balanced financial policyStable dividend per action from FY23 to FY25
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Hélène de TISSOTEVPFINANCE & TECH CONSOLIDATED FINANCIAL STATEMENTS02
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2｜CONSOLIDATED FINANCIAL STATEMENTS ExecutiveSummaryFY25 Continuedvolume recovery(+2%) withthreeconsecutivesemestersof volume growthStrong FY25 organicoperating marginexpansion at +64bps, supported by the completion in FY25 of a €900m efficiency program FY23-25and strong cost disciplineSustainedreportedoperating margindespitesignificantadverse FX impactsFree Cash Flow at €1.1bn(+18%) notably with strong Operating Working Capital management,leading to a strong improvement in Cash conversion FY25 Organic Net Sales -3.0%Declines in China, USA and GTR Asia negatively impacting mixMany markets posted a resilient to strong growth, leading to gainingor maintaining shares in most of them Sustainablelong-termgrowthinvestments€1.2bn in Capex and Strategic Inventories, passed peak in FY24Continued dynamic portfolio management, including strategic winesand Imperial Blue businesses disposals
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2｜CONSOLIDATED FINANCIAL STATEMENTS SummaryIncomeStatementΔ 24–25€ millions FY25ReportedOrganicSALES 10,959-5.5%-3.0%Gross marginafterlogisticcost(GM)GM / Sales (var. in bps)6,51659.5% Advertising & promotionalexpenditure(A&P)A&P / Sales (var. in bps)-1,67915.3%StructureStructure/ Sales (var. in bps)-1,88617.2%PROFIT FROM RECURRING OPERATIONS (PRO)2,951-5.3%-0.8%PRO / Sales (var. in bps)26.9%+6bps+64bps Consistent organic operating margin expansion, investingin brand desirability andsustainable long-term growth
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2｜CONSOLIDATED FINANCIAL STATEMENTS Group Share of Net Profit€ millions FY25Δ 24–25PROFIT FROM RECURRING OPERATIONS (PRO)2,951-5.5%Non-recurringoperating incomeand expenses-208OPERATING PROFIT2,743Financial income(expense) -492Corporate incometax -574Non-controllinginterestsand other-51GROUP SHARE OF NET PROFIT1,626+10% Group Share of Net Profit €1,626m, up by +10% asnon-recurring costs are significantly lower than FY24
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2｜CONSOLIDATED FINANCIAL STATEMENTS Strong balance sheet and a dynamic financial policy Prioritiesof the Financial Policy Investment in future organic growth, in particular through Strategic Inventories and Capital Expenditure Continued active portfolio management, includingvalue creating M&ADividend distribution at c.50% of Net Profit from Recurring Operations, aiming at consistently growing dividendsShare buyback, when above priorities are fulfilled €1,133m 151164 1,201 305 30 June 2024Free Cash FlowM&ALeaseliabilityand othersDividendsFX impact30 June 2025 €10,951m €10,727m Free Cash Flow at €1.1bn (+18%) notably with strongOperating Working Capital management, leadingto a strong improvement in cash conversion 3.1x 3.3xNet Debt/ EBITDA ratio While maintaining investmentgrade rating
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03FIRST QUARTER FY26
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3｜FIRST QUARTER FY26 First Quarter FY26SLOW START TO THE YEAR AS EXPECTED, WITH DECLINESIN CHINA AND USA LEADING TO Q1 ORGANIC NET SALES -7.6%AND REPORTED -14.3%With our broad geographic base:Positive performances in a numberof marketsacrossmostregions, in Asia, Africa, Middle East,North America and EuropeMarketsof note thatenjoyedpositive sales momentumin Q1 includeCanada, Turkey,Japan and South AfricaUSA -16%Sales wereimpactedby someinventoryadjustments, as expectedGap to market continued to close, with resilient sell-out momentumIndia+3%Sales enjoyedstrongunderlyingdynamics, thoughchallengedby the excise policychangesin Maharashtra state implementedin July Sales in China contractedsharply, withcontinuedmacroeconomicweaknessthatimpactedconsumer sentiment and demand, plus someinventoryadjustmentsChina -27% Sales will benefit from the resumption of our sales of Cognac to China Duty Free from Q2Global TravelRetail-15%
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04AlexandreRICARDCHAIRMAN & CHIEF EXECUTIVE OFFICER OUTLOOK
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For FY26, we continueto expect improving trends in Organic Net Sales,skewed toward H2We continue to invest to increaseour brands’ desirability with:sharp allocationefficiencyinnovation and experiences; with A&P investment ratio expectedto remain at c.16% 4｜OUTLOOK WewilldefendourorganicOperating Marginto the fullestextentpossible, supportedby:strict cost controland the implementation of our FY26to FY29 €1bn Operational Efficiencies program, including the adaptation ofour “fit for future” organizationFocus on cash generation to continue,with strategic investments below €900mand strong operating working capital management. Cash conversion expectedto improve further vs FY25FX impact expected to be significantlynegative1 1 Basedon currentSpot rates. Outlook 2026
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4｜OUTLOOK Medium TermFY27-29Leveraging ourunique broad-basedand balancedgeographicbreadthand diversifiedportfolio of premium international spirits :Projecting Organic Net Sales growth, aiming for the range of +3% to +6% p.aon average, with annual Organic Operating Margin expansionAnticipating organic margin expansion to be supported by efficiencies of €1bnfrom FY26 to FY29, with program to optimize Operations and implementa fit for future organisationalstructureMaintaining consistent investments behind our brands with c.16% A&P/NS,with agility and responsiveness to maximiseopportunity by brand and marketStrong cash generation aiming for c.80% and above cash conversionto fund our financial policy priorities, with strategic investments normalizingto no more than c. €1bnWe are confident in our strategy, in our operating model andin the engagement of our teams, to deliver sustainable value growth over time
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4｜OUTLOOKWeare buildingfor the future
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4｜PERSPECTIVES
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05Patricia BARBIZETLEAD INDEPENDENT DIRECTOR & CHAIR OF THE NOMINATIONSAND GOVERNANCE COMMITTEE GOVERNANCE
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5｜GOVERNANCEBoardsof Directors& Committees
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5｜GOVERNANCE Boardof DirectorsChairman& CEOAlexandre RICARDLeadIndependent DirectorPatricia BARBIZET IndependentDirectors Directors Directorsrepresenting employees Virginie FAUVELMax KOEUNE Anne LANGEPhilippe PETITCOLIN NamitaSHAH Kory SORENSON Ian GALLIENNECésar GIRONPatricia RICARD GIRONVeronica VARGASPermanent representativeof Société Paul Ricard, Director Carla MACHADO LEITEBrice THOMMEN
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5｜GOVERNANCE A committedBoardwithdiverse& complementaryskills, ensuringeffectivedecision-making 1 Excluding Directors representing employees. 10meetings 58.3%women157.4average age 42.9%non-French Directors 58.3%independent Directors1 97.92%Attendance rate 8 8 6 5 5 3 General Management& Strategy Finance,Audit & M&A CorporateGovernance& Compliance CSR & HR Innovation, Industry & Consumer Knowledge Digital & Technologies MEMBERS
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5｜GOVERNANCE FY25 Activity report During the past fiscal year, the Lead Independent Director has notably:Met withourtop investorsto discussgovernancemattersat companylevelLead the annualreviewof the Boardoperations& proceduresChairedthe executivesession LeadIndependent Directorreport
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5｜GOVERNANCE 5 dedicated commmitteesassisting the Boardfor the preparation of specific topics AUDITCOMMITTEENOMINATIONS& GOVERNANCE COMMITTEECOMPENSATION COMMITTEESTRATEGIC COMMITTEECSRCOMMITTEE
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5｜GOVERNANCE Composition of the Committees(1/2) AuditCommitteePhilippe PETITCOLINChair Nominationsand GovernanceCommitteePatricia BARBIZETChairKory SORENSON Max KOEUNE 1 Excludingthe Directorsrepresentingemployees. Anne LANGE César GIRON 100% 100%67%Independancerate1 Independancerate1 Attendance rate100%Attendance rate
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5｜GOVERNANCE Composition of the Committees(2/2) 100%100%Independancerate1 Attendance rateIndependancerate1 100%100%Attendance rate Strategic CommitteeAlexandre RICARDChairIan GALLIENNEAnne LANGEPhilippe PETITCOLINSociété Paul RicardVirginie FAUVEL Compensation Committee Ian GALLIENNEPatricia BARBIZETBrice THOMMEN Kory SORENSON Chair Independancerate1 100%100%Attendance rate CSRCommitteePatricia BARBIZETChairVeronica VARGAS NamitaSHAH 50%67% 1 Excludingthe Directorsrepresentingemployees.
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Kory SORENSONINDEPENDENT DIRECTOR & CHAIR OF THE COMPENSATION COMMITTEE 5｜GOVERNANCE Compensationof The Chairman& CEO
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5｜GOVERNANCE Two items submitted to your approval Ex ante voteApproval of the compensation policyapplicable to Alexandre Ricard,Chairman & CEO(Item #10) Ex post vote Approval of the fixed and variable components of the total compensation and benefits paid during or awarded for FY2025to Alexandre Ricard,Chairman & CEO(Item #9)
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5｜GOVERNANCE Compensation components paid duringor awarded for FY2025 (ex postvote)FIXED COMPENSATION€1,325,000ANNUAL VARIABLE COMPENSATION100.64% of the target€1,466,775 PERFORMANCE SHARES Performance shares granted during FY2025 (60% of the maximum amount)15,071Performance shares with internal performance conditions (3 years)12,512Performance shares with an external performance condition (3 years)Performance shares assessed during FY202559%of the performance shares granted in 2021 have been delivered SUPPLEMENTARY PENSION SCHEMEGrand of performance shares: 1,738shares with internal performance conditionsand 1,443shares with an external performance condition€256,812 cash payment (gross)OTHER Company car/collective healthcare and welfare schemes
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5｜GOVERNANCE Compensation policy(ex ante vote)FY2026 Targetcompensation structure73%Subjectto performance conditions FIXED COMPENSATION€1,325,000ANNUAL VARIABLE COMPENSATIONTarget: 110% –Max: 180%Financial criteria: target 80% / max 135%Non-financial and qualitative criteria: target 30% / max 45% LONG-TERM VARIABLE COMPENSATIONMax: 100% of fixed and maximum annualvariable compensationsubject to performance conditionsSUPPLEMENTARYPENSION SCHEME20% of fixed and variable compensation(10% in performance shares and 10% in cash) DEFFERED COMMITMENTSNon-compete clause + forced departure clause:combined maximum 24 months’ compensation (fixed and variable) MULTI-YEAR/EXCEPTIONAL VARIABLE COMPENSATIONAny multi-year variable compensation or exceptional compensation must be precisely communicated and justified.None currentlyOTHERCompany car/Collective healthcare and welfare schemes 27%Fixedcompensation44%Long-termvariable compensation1 29%Target annualvariable compensation 1 EstimatedIFRS value of performance sharesto begrantedin respect of FY2026.
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06Marc de VILLARTAYDELOITTE & ASSOCIÉS STATUTORY AUDITORS' REPORTS
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6｜STATUTORY AUDITORS' REPORTS Pages 393-396 and 423-425 of the Universal Registration Document Statutory Auditors’ reportson the consolidated and annualfinancial statements (1/2)Objective: Obtainreasonableassurance thatthe financialstatementsare in accordancewithaccountingprinciples, thattheydo not containanymaterialmisstatements,thattheyare accurateand fairand givea trueand fairviewof the assetsand liabilitiesof the Group, of itsfinancialposition as wellas of itsoperation Key audit matters detailed in the reports:Consolidatedfinancialstatements: brands valuation, taxriskAnnualfinancialstatements: valuation of investmentsWecertifiedthatthe consolidatedand statutoryfinancialstatementsgivea trueand fairviewof the resultsof itsoperationsand of the financialposition of the assets and liabilitiesfor the yearthenended
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6｜STATUTORY AUDITORS' REPORTS Pages 393-396 and 423-425 of the Universal Registration Document Statutory Auditors’ reportson the consolidated and annualfinancial statements (2/2)No observations on the Group and parent companymanagement reportsAttestation of the accuracyand fairpresentationof the informationwithrespect to compensation and benefitsreceivedor awardedtothe CorporateOfficersAttestation of the fairpresentationand the consistencywiththe financialstatementsof the information relatingto paymentdeadlinesPositive conclusion on the respect of the EuropeanSingle Electronicformat (ESEF)for the Group’sconsolidatedfinancialstatementsandthe parent company’sfinancialstatementsincludedin the annualfinancialreport
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6｜STATUTORY AUDITORS' REPORTS Special reporton regulated agreementsPage 426 of the Universal Registration Document No new regulatedagreement submittedto the approvalof the Shareholders’ MeetingNo regulatedagreement previouslyapprovedby the Shareholders’ Meeting remainedin force duringthe financialyear
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6｜STATUTORY AUDITORS' REPORTS Pages 452-455 of the Universal Registration Document Statutory Auditors’ reportsregarding the extraordinary Shareholders’ MeetingWehave issuedthe four followingreports:Report on the sharecapital decreaseby cancellationof sharespurchasedupto a maximum of 10% of itssharecapital by 24-month period(15thresolution)Report on the issue of ordinarysharesand/or varioussecuritieswithretentionand/or cancellationof preferentialsubscriptionrights(16thto 20thresolution)Report on the issuanceof ordinarysharesor securitiesgrantingaccessto sharecapital, reservedfor employeemembersof companysavingsplans (22ndresolution)Report on the issuanceof ordinarysharesor securitiesgrantingaccessto sharecapital, withcancellationof preferentialsubscriptionrights(23rdresolution)Wehavenocommentstomakeontheprocessfordeterminingtheissuepriceoftheoperationssuggested,assetoutintheBoardofDirectors’report
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6｜STATUTORY AUDITORS' REPORTS First year of application: verification addressing three different aspects: Report on the certificationof sustainability informationPages 279-282 of the Universal Registration Document 6｜STATUTORY AUDITORS' REPORTS Compliance of the process implementedto determinesustainabilityinformation to bepublished, in accordance withthe EuropeanSustainabilityReportingStandards ("ESRS")Compliance withthe "ESRS" of the information includedin the sustainabilitystatementRespect of the publication requirementsregardingthe information relatedto the taxonomyNo materialerrors, omissions, or inconsistenciesidentifiedin anyof thesethreeaspectsEmphasisof matterconcerningthe information providedin section 3.1.1of the sustainabilitystatement, whichoutlinesthe preparationmethodsin the contextof the initial implementation
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Anne-Marie POLIQUINEVPLEGAL AND COMPLIANCE PRESENTATIONOF THE RESOLUTIONS07
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7｜PRESENTATION OF THE RESOLUTIONS 1. ORDINARY MEETING 2. EXTRAORDINARY MEETING ordinaryitems extraordinaryitems
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7｜PRESENTATION OF THE RESOLUTIONS Parent companyand consolidatedfinancialstatementsapproval(Items #1 and #2) Net profit allocation and dividendsetting(Item #3) 1STTO 3RD RESOLUTIONSApprovalof the financialstatements,allocation of net profit and setting of the dividend Ordinaryresolutions
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4THTO 6TH RESOLUTIONS 7｜PRESENTATION OF THE RESOLUTIONS Anne Lange directorship'srenewal(Item #4) Société Paul Ricard and Veronica Vargas' directorshipsrenewal(Items #5 and #6) Anne LANGE Patricia RICARD GIRONReprésentante Permanentede la Société Paul Ricard,Administrateur Veronica VARGAS Boardcomposition –Renewal(1/2) Ordinaryresolutions
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7THAND 8TH RESOLUTIONSBoardcomposition -Appointments(2/2) 7｜PRESENTATION OF THE RESOLUTIONS Ordinaryresolutions Albert BALADIJean LEMIERRE Albert Baladiand Jean Lemierre(Independent Directors)
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7｜PRESENTATION OF THE RESOLUTIONS“EX ANTE”Approvalof the compensation policyapplicableto Alexandre Ricard, Chairman & CEO“EX ANTE”Approvalof the compensation policyapplicable to Directors,itbeingspecifiedthatthe an increasedproposedbudgetof €1,450,000 isexpectedto takeintoaccountsthe arrivalof 1 additionalDirectorand to enable to possibilityto organise exceptionalBoardmeetings if needbe(currentuse of budget at +90%) “EX POST”Approvalof the fixedand variable componentsof the total compensation and benefitspaidduringor awardedfor FY2025 to Alexandre Ricard, Chairman & CEO “EX POST”Approvalof the information referredto in art. L. 22-10-9 Iof the French commercial code relatingto the compensationof CorporateOfficers 10THRESOLUTION 9THRESOLUTION 12THRESOLUTION 11THRESOLUTION OrdinaryresolutionsSAY ON PAYChairman & CEOSAY ON PAYAdministrateurs
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7｜PRESENTATION OF THE RESOLUTIONS 13THAND 14TH RESOLUTIONSApprovalof the related-party agreementsreferredto art. L. 225-38 et seq. of the French Commercial codeNo suchagreement eitherenteredintoor previouslyauthorised Autorisation for the Boardto tradein Company'sshares18-month validityperiodMaximum purchaseprice: €210 per shareUp to 10% of the Company'ssharecapital Ordinaryresolutions
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7｜PRESENTATION OF THE RESOLUTIONS 15THRESOLUTIONShare capital reductionby cancellingtreasuryshares26-month validityperiodUp to 10% of the sharecapital per 24-month period Extraordinaryresolutions
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7｜PRESENTATION OF THE RESOLUTIONS 16THRESOLUTIONShare capital increasewithPreferentialSubscriptionRights(max circa. 33% of the sharecapital) 17THRESOLUTIONShare capital increasewithoutPreferentialSubscriptionRights(circa. 10% of the sharecapital sub-ceiling) 18THRESOLUTION15% additionalissue possibility19THRESOLUTIONShare capital increasewithoutPreferentialSubscriptionRightsby wayof a public offerreservedfor qualifiedinvestorsor a restrictedgroup of investors Extraordinaryresolutions
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7｜PRESENTATION OF THE RESOLUTIONS 20THAND 21ST RESOLUTIONSShare capital increasesfor: 1 Extraordinaryitem thatmaybesubjectto ordinaryshareholders' meeting approvalthreholds. Contributions in kind(Item #20) By capitalisingpremiums, reservesor profits(Item #21)1 Extraordinaryresolutions
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7｜PRESENTATION OF THE RESOLUTIONS Reservedfor membersofCompany'ssavingsplans, withoutPreferentialSubscriptionRights[26-month validityperiod] Reservedfor certain categoriesof beneficiaries, withoutPreferentialSubscriptionRights[18-month validityperiod] 22NDAND 23RD RESOLUTIONS Up to 2% of the sharecapital Share capital increases: Extraordinaryresolutions
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7｜PRESENTATION OF THE RESOLUTIONS 24THRESOLUTIONBy-lawsamendments(articles 21 and 33)Amendmentsto Articles 21 and 33 of the Company'sBylawsto companywith"attractiveness" lawenactedon 13 June 2024 Extraordinaryresolutions
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7｜PRESENTATION OF THE RESOLUTIONS 25THRESOLUTION Autorisation to the Boardto carry outthe necessarylegalformalities ExtraordinaryresolutionsPowers to carry out the necessarylegalformalities
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08QUESTIONSFROM SHAREHOLDERS
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09VOTEON RESOLUTIONS
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9｜VOTE ON RESOLUTIONS Approval of the parent companyfinancial statements for the financial year ended 30 June 2025 1STRESOLUTION Ordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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Approval of the consolidatedfinancial statements for the financial year ended 30 June 2025 2NDRESOLUTION 9｜VOTE ON RESOLUTIONS Ordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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9｜VOTE ON RESOLUTIONS Allocation of net profitfor the financial year ended 30 June 2025and setting of the dividend 3RDRESOLUTION Ordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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9｜VOTE ON RESOLUTIONS Renewal of the directorshipof Ms Anne Lange 4THRESOLUTION Ordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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9｜VOTE ON RESOLUTIONS Renewal of the directorshipof Société Paul Ricard 5THRESOLUTION Ordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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9｜VOTE ON RESOLUTIONS Renewal of the directorshipof Ms Veronica Vargas 6THRESOLUTION Ordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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9｜VOTE ON RESOLUTIONS Appointment of Mr Albert Baladias a Director 7THRESOLUTION Ordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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9｜VOTE ON RESOLUTIONS Appointment of Mr Jean Lemierreas a Director 8THRESOLUTION Ordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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9｜VOTE ON RESOLUTIONS Approval of the fixed and variable components of the total compensation and benefits paid during or awarded for FY2025to Alexandre Ricard,Chairman & CEO 9THRESOLUTION Ordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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9｜VOTE ON RESOLUTIONS Approval of the compensation policyapplicable to Alexandre Ricard,Chairman & CEO 10THRESOLUTION Ordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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9｜VOTE ON RESOLUTIONS Approval of the information referred to in Art. L. 22-10-9, I of the French Commercial Code relating to the compensationof Corporate Officers 11THRESOLUTION Ordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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9｜VOTE ON RESOLUTIONS Approval of the compensation policyapplicable to Directors 12THRESOLUTION Ordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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9｜VOTE ON RESOLUTIONS Approval of the related-party agreements referred to in Art. L.225-38 et seq.of the French Commercial Code 13THRESOLUTION Ordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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9｜VOTE ON RESOLUTIONS Authorisation of the Board of Directorsto trade in Company's shares 14THRESOLUTION Ordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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9｜VOTE ON RESOLUTIONS Reduction of the share capitalby cancelling treasury shares,subject to a limit of 10% of the share capital 15THRESOLUTION Extraordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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9｜VOTE ON RESOLUTIONS Share capital increasewith Preferential Subscription Rights 16THRESOLUTION Extraordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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9｜VOTE ON RESOLUTIONS Share capital increasewithout Preferential Subscription Rights 17THRESOLUTION Extraordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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9｜VOTE ON RESOLUTIONS Increase of the initial issue carried outunder the 16th, 17thand 19thresolutionswith or without Preferential Subscription Rights 18THRESOLUTION Extraordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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9｜VOTE ON RESOLUTIONS Share capital increase reserved for qualified investors or a restricted group of investors, without Preferential Subscription Rights 19THRESOLUTION Extraordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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9｜VOTE ON RESOLUTIONS Share capital increaseas consideration for contributionsin kind granted to the Company 20THRESOLUTION Extraordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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9｜VOTE ON RESOLUTIONS Share capital increaseby capitalising premiums, reserves,profits or other items1 21STRESOLUTION 1 Extraordinaryitem thatmaybesubjectto ordinaryshareholders' meeting approvalthreholds. Extraordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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9｜VOTE ON RESOLUTIONS Share capital increase reserved for membersof company savings plans, withoutPreferential Subscription Rights 22NDRESOLUTION Extraordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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9｜VOTE ON RESOLUTIONS Share capital increase reservedfor certain categories of beneficiaries,without Preferential Subscription Rights 23RDRESOLUTION Extraordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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9｜VOTE ON RESOLUTIONS Amendmentsto Articles 21 and 33 of the Bylaws 24THRESOLUTION Extraordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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9｜VOTE ON RESOLUTIONS Powers to carry outthe necessary legal formalities 25THRESOLUTION Extraordinaryresolutions CADRE RÉSERVÉ À LA SOCIÉTÉ GÉNÉRALE
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Closing
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SHAREHOLDERS’MEETING2025