Vivendi Se · EURONEXT:VIV
Vivendi — Shareholder Meeting (April 2026)
87 slides from Vivendi's shareholder meeting presentation, Apr 21, 2026
Slide 1: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 21, 2026
Slide 2: Yannick Bolloré, Chairman of the Supervisory Board
YANNICK BOLLORÉ Chairman of the Supervisory Board
Slide 3: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 21, 2026
Slide 4: Arnaud de Puyfontaine, Chairman of the Management Board
ARNAUD DE PUYFONTAINE Chairman of the Management Board
Slide 5: Investment Portfolio
INVESTMENT PORTFOLIO 9.9% 19.2% Unlisted assets Listed assets 100% 13.4% 15.9% 11.2%
Slide 6: Gameloft: A Successful Strategic Transformation
GAMELOFT: A SUCCESSFUL STRATEGIC TRANSFORMATION Comprehensive multiplatform presence Mobile PC & Consoles Subscription Historical foundation and Expansion into Alignment with new recognized expertise premium platforms usage trends
Slide 7: The Ambition of V Collection
THE AMBITION OF V COLLECTION: BECOME THE BENCHMARK FOR MEDIA AND CULTURAL LUXURY CONTENT IN FRANCE AND INTERNATIONALLY
Slide 8: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 21, 2026
Slide 9: François Laroze, Chief Financial Officer
FRANÇOIS LAROZE Chief Financial Officer
Slide 10: Vivendi 2025 Consolidated Results
VIVENDI 2025 CONSOLIDATED RESULTS
Slide 11: 2025 Key Figures
2025 KEY FIGURES 2025 2024 Portfolio of listed financial assets €5.5 bn €6.9 bn Of which disposals of shares, net of purchases €(1.1) bn - Of which changes in value €(0.3) bn - Loan to Lagardère €0.45 bn €0.50 bn Financial net debt (1) €(1.5) bn €(2.6) bn Revenues €307 M €297 M EBITA €45 M €(1) M Ne
Slide 12: 2025 EBITA by Business Unit
2025 EBITA BY BUSINESS UNIT (in euro millions) 2025 2024 Gameloft 15 8 Corporate / Vivendi Foundation (2024) (99) (131) Share of UMG earnings 129 122 Group EBITA 45 (1)
Slide 13: 2025 Income Statement
2025 INCOME STATEMENT (in euro millions) 2025 2024 Revenues 307 297 EBITA 45 (1) Amortization and depreciation of intangible assets acquired through business combinations (27) (167) Settlement agreement with all the institutional investors na (96) Earnings before interest and income taxes (EBIT) 18
Slide 14: Listed Equity Interests & Dividends Received in 2025
LISTED EQUITY INTERESTS & DIVIDENDS RECEIVED IN 2025 Number of shares owned % of Stock market Market value As of December 31, 2025 (in millions) ownership price (€/share) (in €M) UMG (Equity affiliate - Operational) 181,799 9.91% 22.23 4,041 Banijay Group 81,139 19.17% 8.30 673 Lagardère 18,954 13.3
Slide 15: Key Figures
KEY FIGURES 2025 2024 Δ organic In euro millions (%) PC / consoles 144 124 +17% Mobile 135 148 -8% BtoB 24 21 +15% Total revenue 303 293 +4% EBITA excluding restructuring charges 19 14 +43% Restructuring charges 4 6 EBITA 15 8 X2.1
Slide 16: Financial Net Debt Evolution
FINANCIAL NET DEBT EVOLUTION (In euro millions) 0 -500 -1501 1464 -1000 -2573 -1500 -296 -40 -42 -82 -2000 68 -2500 -3000 Financial net debt CFFO Divestitures of listed Acquisition Dividends paid by Interest, taxes Discontinued Financial net debt as of (TIM, TEF..) and non of Lagardère Vivendi SE an
Slide 17: A Robust Financial Situation
A ROBUST FINANCIAL SITUATION As of December 31 In euro millions 2025 2024 Available cash and cash equivalents 200 74 Structured bilateral financing agreements (1,350) (2,000) Short-term negotiable securities (352) (450) Current accounts and other payables 1 (197) Gross financial debt (1,701) (2,647)
Slide 18: Vivendi SE 2025 Statutory Result and Dividend
VIVENDI SE 2025 STATUTORY RESULT AND DIVIDEND
Slide 19: 2025 Statutory Result
2025 STATUTORY RESULT In euro millions 2025 Operating loss (92) Net financial income / (loss) 527 Dividends received 158 of which impact of disposal of Telecom Italia shares 204 of which capital gain on disposal of GVA 286 of which other movements in financial provisions (61) of which net financing
Slide 20: Proposed 2025 Ordinary Dividend
PROPOSED 2025 ORDINARY DIVIDEND ✓ Proposed ordinary dividend of €0.04 per share with respect to FY 2025* ✓ Global amount of €40 M ✓ A yield above 1.5% * Ex-dividend date of April 22, 2026 and dividend payment date as from April 24, 2026.
Slide 21: Quarterly Financial Information as of March 31, 2026
QUATERLY FINANCIAL INFORMATION AS OF MARCH 31, 2026
Slide 22: Investments in Listed Companies as of March 31, 2026
INVESTMENTS IN LISTED COMPANIES AS OF MARCH 31, 2026 Number of shares held Ownership Market value (in euro millions) (in millions) interest % (in €M) UMG 181,799 9.91% 3,024 Banijay Group 80,934 19.12% 684 MediaForEurope 112,419 15.92% 331 Lagardère 18,954 13.38% 341 Prisa 150,908 11.19% 45 Total fi
Slide 23: Investments in Listed Companies as of April 20, 2026
INVESTMENTS IN LISTED COMPANIES AS OF APRIL 20, 2026 Number of shares held Ownership Market value (in euro millions) (in millions) interest % (in €M) UMG 181,799 9.89% 3,705 Banijay Group 80,916 19.12% 686 MediaForEurope 112,419 15.92% 395 Lagardère 18,954 13.38% 354 Prisa 150,908 11.19% 47 Total fi
Slide 24: Q1 2026 Revenue
Q1 2026 REVENUE Δ at constant Q1 2026 Q1 2025 Δ (%) currency and In euro millions perimeter (%) Gameloft 68 68 -0.7% +1.3% Other 1 1 Group revenue 69 69 -0.7% +1.3%
Slide 25: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 21, 2026
Slide 26: Céline Merle-Béral, Chief of HR Strategy and Corporate Culture
CÉLINE MERLE-BÉRAL Chief of HR Strategy and Corporate Culture
Slide 27: 2,535 Employees in 19 Countries
2,535 EMPLOYEES IN 19 COUNTRIES
Slide 28: Our CSR Program
OUR CSR PROGRAM Inspiring Building Helping change a more climate through responsible combat culture world together A
Slide 29: Helping Combat Climate Change
HELPING COMBAT CLIMATE CHANGE -27% CO₂ emissions related to our activities (scopes 1, 2, and 3) 78% + 15 POINTS Renewable electricity 2025 vs. 2024 results
Slide 30: Inspiring Change Through Culture
INSPIRING CHANGE THROUGH CULTURE 6 Partner associations 350 People benefited from our philanthropic initiatives La Seine Musicale (22 novembre 2025)
Slide 31: Building a More Responsible World Together
BUILDING A MORE RESPONSIBLE WORLD TOGETHER 29% +5 POINTS VS MARKET Share of women at Gameloft 1.1% +0.2 POINT VS 2024 Global share of employment of people with disabilities within the group 2025 results
Slide 32: Supporting Employees in the Transition to AI
SUPPORTING EMPLOYEES IN THE TRANSITION TO AI 40% Employees trained 1,430 Training hours 2025 results La Seine Musicale (22 novembre 2025)
Slide 33: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 21, 2026
Slide 34: Cathia Lawson-Hall, Chairwoman of the Audit and Sustainability Committee
CATHIA LAWSON-HALL Chairwoman of the Audit and Sustainability Committee
Slide 35: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 21, 2026
Slide 36: Jean-François Baloteaud, Statutory Auditor, Grant Thornton
JEAN-FRANCOIS BALOTEAUD Statutory Auditor, Grant Thornton
Slide 37: Mission of the Statutory Auditors
MISSION OF THE STATUTORY AUDITORS Objective In accordance with the standards of professional practice, obtain reasonable assurance that your company's annual and consolidated financial statements for the 2025 financial year give a true and fair view and are free from material misstatement. Informati
Slide 38: Mission of the Statutory Auditors
MISSION OF THE STATUTORY AUDITORS OUR MAIN ASSIGNMENTS WERE AS FOLLOW: Audit of the 2025 financial statements of Vivendi SE Page 307 of the 2025 Annual Report - Universal Registration Document: We certify that the annual financial statements are, in accordance with French accounting rules and princi
Slide 39: Report on the 2025 Financial Statements of Vivendi SE
REPORT ON THE 2025 FINANCIAL STATEMENTS OF VIVENDI SE Opinion on the financial statements Report on the financial statements on page 307 of the 2025 Annual Report - Universal Registration Document, subject of the 1st resolution, Unqualified audit opinion on the financial statements. We draw your att
Slide 40: Report on Vivendi SE's 2025 Consolidated Financial Statements
REPORT ON VIVENDI SE'S 2025 CONSOLIDATED FINANCIAL STATEMENTS Opinion on the financial statements Report on the consolidated financial statements on page 234 of the 2025 Annual Report - Universal Registration Document, subject of the 2nd resolution, Unqualified audit opininion on the consolidated fi
Slide 41: Report on Vivendi SE's Consolidated Financial Statements
REPORT ON VIVENDI SE’S CONSOLIDATED FINANCIAL STATEMENTS Other specific verifications We have no matters to report on the information relating to the group given in the management report and that required by other laws and regulations.
Slide 42: Statutory Auditors' Special Report on Regulated Agreements
STATUTORY AUDITORS’S SPECIAL REPORT ON REGULATED AGREEMENTS Statutory Auditors’ Special Report on Regulated Agreements Special report on regulated agreements on page 335 of the 2025 Annual Report - Universal Registration Document, subject of the 3rd resolution, We have no comments to make on the res
Slide 43: Statutory Auditors' Special Report on Regulated Agreements
STATUTORY AUDITORS’S SPECIAL REPORT ON REGULATED AGREEMENTS Agreements approved in previous years with continuing effect in 2025 The following agreement authorized by the Supervisory Board on July 28, 2021, and approved by the Shareholders' Meeting of April 25, 2022 continued in 2025: ▪ Execution by
Slide 44: Statutory Auditors' Special Report on Regulated Agreements
STATUTORY AUDITORS’S SPECIAL REPORT ON REGULATED AGREEMENTS Agreements approved in previous years with no continuing effect during the year The agreement authorized by the Supervisory Board on May 3, 2021 and approved by the Annual General Meeting on June 22, 2021 was not executed during the past fi
Slide 45: Reports Issued with Respect to Extraordinary Resolutions
REPORTS ISSUED WITH RESPECT TO EXTRAORDINARY RESOLUTIONS Other reports issued with respect to extraordinary resolutions No comments to be made on the reports issued relating to the authorizations and the proposed delegations of authority or competence to the effect of: • cancelling treasury shares a
Slide 46: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 21, 2026
Slide 47: Philippe Bénacin, Vice Chairman of the Supervisory Board
PHILIPPE BÉNACIN Vice Chairman of the Supervisory Board Chairman of the Corporate Governance, Nominations and Remuneration Committee
Slide 48: 2025 Compensation of Corporate Officers
2025 COMPENSATION OF CORPORATE OFFICERS (5th to 10th resolutions) o Global vote for all Vivendi corporate officers (5th resolution) o Compensation of the Chairman of the Supervisory (6th resolution) o Compensation of the Chairman of the Management Board (7th resolution) o Compensation of the members
Slide 49: Compensation Policy for 2026
COMPENSATION POLICY FOR 2026 (11th to 13th resolutions) o Continued application of the improvements CHAIRMAN AND MEMBERS OF implemented over several years, in particular: THE SUPERVISORY BOARD (11th resolution) • No grant of Vivendi shares based on share price performance where such performance is b
Slide 50: Evolution of Governance
EVOLUTION OF GOVERNANCE (14th to 15th resolutions) SUPERVISORY BOARD o Renewal of the term of office of Maud Fontenoy (14th resolution) o Ratification of the co-optation of Bernard Osta (15th resolution). Independence ratio Gender balance ratio 67% 50%
Slide 51: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 21, 2026
Slide 52: Alexandre de Rochefort, CEO Gameloft
ALEXANDRE DE ROCHEFORT CEO Gameloft
Slide 53: Gameloft at a Glance
GAMELOFT AT A GLANCE 1 AN INTERNATIONAL AND INTEGRATED VIDEO GAME COMPANY A DIVERSIFIED GAME PORTFOLIO AND STRONG INTERNAL AND EXTERNAL 2 FRANCHISES 3 A UNIQUE PRODUCTION CAPACITY AND MULTIPLATFORM EXPERTISE 4 HIGHLY COMPETITIVE COSTS FOR PORTFOLIO CREATION AND UPKEEP
Slide 54: A Global Playground
A GLOBAL PLAYGROUND 2,876 EMPLOYEES 10 PRODUCTION STUDIOS UKRAINE BARCELONA HQ Studios
Slide 55: 2025 Performance
2025 PERFORMANCE Revenue Gross EBITA Cash-flow margin from operations €303M €203M €15M €31M +4% +3% +88% +44%
Slide 56: Financial Highlights 2023-2025
FINANCIAL HIGHLIGHTS | 2023-2025 Strong growth in profits and operating cash flows since 2023 EBITA CFFO 16 15 35 31 14 30 12 25 22 10 8 20 M€ M€ 8 15 6 5 10 4 2 5 3 0 0 2023 2024 2025 2023 2024 2025
Slide 57: The Strongest Creative Line-up in Gameloft's History
THE STRONGEST CREATIVE LINE-UP IN GAMELOFT’S HISTORY Nickelodeon Extreme Bluey’s Happy Snaps Dungeons & Dragons Tennis: Next! + 5 unannounced games Edition | External studio Gameloft Brisbane Gameloft Montreal under development PC/Consoles | Sport Arcade PC/Consoles | Kids PC/Consoles | Survival-cra
Slide 58: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 21, 2026
Slide 59: Frédéric Crépin, Group General Counsel
FRÉDÉRIC CRÉPIN Group General Counsel
Slide 60: Q&A
Q&A vivendi
Slide 61: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 21, 2026
Slide 62: Frédéric Crépin, Group General Counsel
FRÉDÉRIC CRÉPIN Group General Counsel
Slide 63: Resolutions Submitted and Summary of Votes Cast Remotely
RESOLUTIONS SUBMITTED TO THE COMBINED GENERAL SHAREHOLDERS’ MEETING AND SUMMARY OF VOTES CAST REMOTELY AND VIA THE INTERNET
Slide 64: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 21, 2026
Slide 65: Resolutions
RESOLUTIONS FIRST RESOLUTION Approval of the parent company financial (Ordinary Meeting) statements for fiscal year 2025
Slide 66: Resolutions
RESOLUTIONS SECOND RESOLUTION Approval of the consolidated financial (Ordinary Meeting) statements for fiscal year 2025
Slide 67: Resolutions
RESOLUTIONS THIRD RESOLUTION Approval of the Statutory Auditors’ (Ordinary Meeting) special report on regulated agreements
Slide 68: Resolutions
RESOLUTIONS FOURTH RESOLUTION Allocation of the 2025 fiscal year result, (Ordinary Meeting) setting of the dividend and its payment date
Slide 69: Resolutions
RESOLUTIONS FIFTH RESOLUTION Approval of the information referred to in (Ordinary Meeting) Article L. 22-10-9 I. of the French Code de commerce as set out in the corporate governance report
Slide 70: Resolutions
RESOLUTIONS SIXTH RESOLUTION Approval of the components of compensation (Ordinary Meeting) and benefits of any kind paid during or allocated for 2025 to Yannick Bolloré, Chairman of the Supervisory Board
Slide 71: Resolutions
RESOLUTIONS SEVENTH RESOLUTION Approval of the components of compensation (Ordinary Meeting) and benefits of any kind paid during or allocated for 2025 to Arnaud de Puyfontaine, Chairman of the Management Board
Slide 72: Resolutions
RESOLUTIONS EIGHTH RESOLUTION Approval of the components of compensation (Ordinary Meeting) and benefits of any kind paid during or allocated for 2025 to Frédéric Crépin, member of the Management Board
Slide 73: Resolutions
RESOLUTIONS NINTH RESOLUTION Approval of the components of compensation (Ordinary Meeting) and benefits of any kind paid during or allocated for 2025 to François Laroze, member of the Management Board
Slide 74: Resolutions
RESOLUTIONS TENTH RESOLUTION Approval of the components of compensation (Ordinary Meeting) and benefits of any kind paid during or allocated for 2025 to Céline Merle-Béral, member of the Management Board
Slide 75: Resolutions
RESOLUTIONS ELEVENTH RESOLUTION Approval of the compensation policy for the (Ordinary Meeting) Chairman and members of the Supervisory Board for 2026
Slide 76: Resolutions
RESOLUTIONS TWELFTH RESOLUTION Approval of the compensation policy for the (Ordinary Meeting) Chairman of the Management Board for 2026
Slide 77: Resolutions
RESOLUTIONS THIRTEENTH RESOLUTION Approval of the compensation policy for (Ordinary Meeting) members of the Management Board for 2026
Slide 78: Resolutions
RESOLUTIONS FOURTEENTH RESOLUTION Renewal of the term of office of Maud (Ordinary Meeting) Fontenoy as a member of the Supervisory Board
Slide 79: Resolutions
RESOLUTIONS FIFTEENTH RESOLUTION Ratification of the co-optation of Bernard (Ordinary Meeting) Osta as a member of the Supervisory Board
Slide 80: Resolutions
RESOLUTIONS SIXTEENTH RESOLUTION Authorization granted to the Management (Ordinary Meeting) Board for the purchase by the Company of its own shares within the limit of 10% of the Company’s share capital
Slide 81: Resolutions
RESOLUTIONS SEVENTEENTH RESOLUTION Authorization granted to the Management (Extraordinary Meeting) Board to reduce the Company’s share capital by canceling shares within the limit of 10% of the share capital
Slide 82: Resolutions
RESOLUTIONS EIGHTEENTH RESOLUTION Delegation of authority to the (Extraordinary Meeting) Management Board to decide to increase the Company’s share capital in favor of employees and retirees who are members of the Vivendi Group Employee Stock Purchase Plan, with cancellation of shareholders’ prefere
Slide 83: Resolutions
RESOLUTIONS NINETEENTH RESOLUTION Delegation of authority granted to the (Extraordinary Meeting) Management Board to increase the share capital in favor of employees of Vivendi’s foreign subsidiaries who are members of the international employee stock purchase plan or for the purpose of implementing
Slide 84: Resolutions
RESOLUTIONS TWENTIETH RESOLUTION Amendment to Article 10-4. of the by-laws (Extraordinary Meeting) relating to decision-making by written consultation of the Supervisory Board
Slide 85: Resolutions
RESOLUTIONS TWENTY-FIRST RESOLUTION Harmonization of Article 16-4. of the by-laws (Extraordinary Meeting) with the new regulatory provisions relating to the procedures for participation in general shareholders’ meetings, to take into account the new regulatory provisions
Slide 86: Resolutions
RESOLUTIONS TWENTY-SECOND RESOLUTION Powers to carry out formalities (Extraordinary Meeting)
Slide 87: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 21, 2026