Lagardere Sa · EURONEXT:MMB
Lagardere Sa — Shareholder Meeting (April 2022)
87 slides from Lagardere Sa's shareholder meeting presentation, Apr 22, 2022
Slide 1: Annual Ordinary and Extraordinary General Meeting
ANNUAL ORDINARY AND EXTRAORDINARY GENERAL MEETING Friday, 22 April 2022 at 10 a.m.
Slide 2: Agenda: Summary Presentation
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 AGENDA: SUMMARY PRESENTATION
Slide 3: Ordinary Part of the Meeting: Resolutions 1 to 15 and 18
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 ORDINARY PART OF THE MEETING: RESOLUTIONS 1 TO 15 AND 18 Approval of the Company’s financial statements and of the consolidated financial statements for the year ended 31 December 2021. Allocation of the Company’s profit and divid
Slide 4: Extraordinary Part of the Meeting: Resolutions 16 and 17
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 EXTRAORDINARY PART OF THE MEETING: RESOLUTIONS 16 AND 17 Renewal for 38 months of authorisation given to the Board of Directors to award performance shares to Group employees and senior executives. Renewal for 38 months of authori
Slide 5: 2022 General Meeting
2022 GENERAL MEETING Arnaud Lagardère Chairman and Chief Executive Officer of Lagardère SA 22 April 2022
Slide 6: Agenda
AGENDA 1 2021 highlights 2 Market positioning, trends and outlook 3 CSR strategy 4 Vivendi public tender offer 6
Slide 7: Transformation and Performance
TRANSFORMATION AND PERFORMANCE The conversion of Lagardère SCA into a joint-stock company (société anonyme) with a Board of Directors in 2021 and the announcement of the Vivendi public tender offer marked a new chapter in the Group’s history A return to operating profitability for the Group in 202
Slide 8: Group Performance in 2021
GROUP PERFORMANCE IN 2021 (€m) 2019 2020 2021 Revenue 7,211 4,439 5,130 Recurring EBIT 378 (155) 249 Operating margin 5.2% -3.5% 4.9% Free cash flow 294 (256) 456 o/w free cash flow excluding changes in 260 (239) 176 working capital Net debt at year end (1,461) (1,733) (1,535) Operating profitabilit
Slide 9: Record High Recurring EBIT for Lagardère Publishing
RECORD HIGH RECURRING EBIT FOR LAGARDÈRE PUBLISHING Lagardère Publishing €m % revenue 13.2% 13.5% 11.5% 11.5% 11.5% 11.2% 11.2% 11.3% 10.8% 10.7% 10.8% 351 10.4% 9.8% 301 9.2% 9.2% 9.2% 9.0% 8.9% 243 250 246 239 219 221 223 223 220 208 210 197 198 200 189 164 2004A 2005A 2006A 2007A 2008A 2009A 2010
Slide 10: Agenda
AGENDA 1 2021 highlights 2 Market positioning, trends and outlook 3 CSR strategy 4 Vivendi public tender offer 10
Slide 11: From a Diversified Conglomerate to a Streamlined Group Focused on Three Businesses
FROM A DIVERSIFIED CONGLOMERATE TO A STREAMLINED GROUP FOCUSED ON THREE BUSINESSES 1990s Lagardère SA 2022 Military Automotive Space Corporate Billboards banking Magazines/ Books Press Travel Radio Books Press Retail Press distribution TV Radio 11
Slide 12: Complementary Nature of the Group's Three Businesses
COMPLEMENTARY NATURE OF THE GROUP'S THREE BUSINESSES DROVE A BETTER-THAN-EXPECTED PERFORMANCE IN 2021 Power engine Growth reservoir Media 50.6% 44.6% 4.7% 2021A revenue 2021A revenue 2021A revenue No. 1 Travel Retail operator in France, Poland and the Czech Republic 3 radio stations No. 1 publ
Slide 13: Lagardère Publishing: 2019-2021 Performance
LAGARDÈRE PUBLISHING: 2019-2021 PERFORMANCE Change in revenue (€m) Change in recurring EBIT (€m) Change in free cash flow (€m) % revenue +9.4% +9.2% +10.4% +13.5% 2,598 2,384 2,375 460 351 246 223 220 186 2019A 2020A 2021A 2019A 2020A 2021A 2019A 2020A 2021A Record year for Lagardère Publishing, w
Slide 14: 2021 Exceptional Year for Lagardère Publishing
2021 WAS AN EXCEPTIONAL YEAR FOR LAGARDÈRE PUBLISHING, DRIVEN IN FRANCE BY EMERGING MARKET TRENDS An extraordinary year... ...driven in France by emerging trends 15-year high (€4.5bn) Positive impact of the pandemic on reading habits 62% of French readers increased their reading time in 2021 amid th
Slide 15: Publishing Market in Transformation, Fresh Growth Challenges
A PUBLISHING MARKET IN THE PROCESS OF TRANSFORMATION, CONFRONTED BY FRESH GROWTH CHALLENGES Key opportunities Key challenges Increased demand Gradual Cost inflation Explosion in digital for illustrated New digital improvement in (paper, freight, media (video games, books (comics, reading formats the
Slide 16: Lagardère Publishing Well Positioned for Market Developments
LAGARDÈRE PUBLISHING IS WELL POSITIONED TO TAKE ADVANTAGE OF MARKET DEVELOPMENTS 1 2 3 Strengthening our Continuously improving Diversifying into new leadership position in operational excellence high-growth markets our core business Targeted acquisitions in publishing – e.g., Workman Publishing and
Slide 17: Lagardère Travel Retail: 2019-2021 Performance
LAGARDÈRE TRAVEL RETAIL: 2019-2021 PERFORMANCE Change in revenue (€m) Change in recurring EBIT (€m) Change in free cash flow (€m) % revenue +3.6% -20.5% -3.5% 4,264 +33.1% 152 2,290 74 30 1,720 (81) (353) (452) 2019A 2020A 2021A 2019A 2020A 2021A 2019A 2020A 2021A Solid 2021 performance from Lagar
Slide 18: Travel Retail: Strong Rebound Expected in Coming Years
LAGARDÈRE TRAVEL RETAIL: STRONG REBOUND EXPECTED IN COMING YEARS, WITH DYNAMICS VARYING DEPENDING ON THE REGION Air passenger traffic by flight type Air transport demand by region In millions Baseline: 100 = 2019 14 Historical Going forward 120% 2020 2021 2022 2023 Asia (domestic) 12 11.1 10.2 100%
Slide 19: Travel Retail: Consolidating Leadership, Laying Groundwork for Recovery
LAGARDÈRE TRAVEL RETAIL: CONSOLIDATING OUR LEADERSHIP WHILE LAYING THE GROUNDWORK FOR THE RECOVERY 1 2 3 Consolidating our Continuously New growth leadership in the three improving operational drivers business segments excellence Minimising flow through Strengthening organic growth, vs. 2019, expect
Slide 20: Other Activities: 2019-2021 Performance
OTHER ACTIVITIES: 2019-2021 PERFORMANCE Change in revenue (€m) Change in recurring EBIT (€m) Change in free cash flow (€m) % revenue -2.6% -20.7% -8.7% +5.7% 288 18 242 229 (11) (21) (34) (47) (44) 2019A 2020A 2021A 2019A 2020A 2021A 2019A 2020A 2021A Other Activities posted higher recurring EBIT
Slide 21: Short- and Medium-Term Outlook
SHORT- AND MEDIUM-TERM OUTLOOK Continued efforts to cut operating costs Revenue expected to remain stable in 2022 Short- Expand faster in the US and Asia Resize the Europe 1 editorial project Lower profitability, expected to be slightly term Boost organic growth through digital Resume
Slide 22: Corporate Cost Reduction Target Achieved
CORPORATE COST REDUCTION TARGET ACHIEVED Change in corporate costs (€m) -50% 70 61 LC&M/ 28% LM 31% 45 35 37% Other 36% 72% costs 69% 63% 64% 2019 2020 2021 2022E The corporate cost reduction target for 2021 was achieved, and the efforts will continue in 2022 to pare back to 50% of the 2019 level
Slide 23: Agenda
AGENDA 1 2021 highlights 2 Market positioning, trends and outlook 3 CSR strategy 4 Vivendi public tender offer 23
Slide 24: CSR at Lagardère: Four Priority Issues
CSR AT LAGARDÈRE: FOUR PRIORITY ISSUES ENVIRONMENT SOCIAL Limiting the Placing people at the environmental impact of heart of our strategy our products and services SOCIETAL ETHICS Widely sharing the social Ensuring ethical and and cultural diversity of responsible corporate our businesses governanc
Slide 25: Devising an Ambitious Climate Strategy
DEVISING AN AMBITIOUS CLIMATE STRATEGY From determining the consolidated carbon footprint in 2021… …to developing a full-fledged climate strategy in 2022 Breakdown of the Lagardère group’s carbon emissions Setting a science-based carbon Emissions sources Emissions by business reduction trajectory
Slide 26: Improving Environmental Performance
IMPROVING ENVIRONMENTAL PERFORMANCE Paper/eco-design Plastic Food waste • Responsible paper management: 99% of Ambitious targets for plastic reduction • 49% of Foodservice revenue derived paper certified and/or recycled in 2021 initiatives: from countries that measure food waste and have implemented
Slide 27: Strengthened Social and Societal Commitments
STRENGTHENED SOCIAL AND SOCIETAL COMMITMENTS Gender parity Diversity - Education - Accessibility Engagement - Solidarity • 44% of women top executives • 11.5% representation of minorities in 2021 at • Education for disadvantaged families: Hachette UK 30,000 books donated by Hachette Book • More than
Slide 28: Agenda
AGENDA 1 2021 highlights 2 Market positioning, trends and outlook 3 CSR strategy 4 Vivendi public tender offer 28
Slide 29: Vivendi Public Tender Offer for Lagardère
VIVENDI PUBLIC TENDER OFFER FOR LAGARDÈRE Friendly offer Reasoned opinion of the Board of Directors “[...] the Offer, both the principal Continued listing of Lagardère shares (no mandatory squeeze-out) and subsidiary tenders, is in the interest of the Company's shareholders, The merger of Vivend
Slide 30: 2021 Annual Results
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 2021 ANNUAL RESULTS Sophie Stabile Group Chief Financial Officer
Slide 31: Summary
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 SUMMARY I. Group key figures II. 2021 performance by division III. 2021 Group results 31
Slide 32: Group Key Figures
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 GROUP KEY FIGURES
Slide 33: 2021: Robust Group Performance in Mixed Market Conditions
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 2021: ROBUST GROUP PERFORMANCE IN MIXED MARKET CONDITIONS Sharp increase in recurring EBIT and exceptional cash generation Lagardère Publishing record year in a favourable context: +8.1%* yoy revenue growth Lagardère Travel Retail
Slide 34: 2021 Performance by Division
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 2021 PERFORMANCE BY DIVISION
Slide 35: Exceptional Revenue Growth in an Unprecedented Context
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 EXCEPTIONAL REVENUE GROWTH IN AN UNPRECEDENTED CONTEXT 2020 & 2021 like-for-like yoy 2021 revenue by activity Illustrated Books 17% 14%* +8.1% Partworks +23% General 11% Literature €2,598m 11%* 42% €2,375m** 45%* -0.8% +14% Other*** 1
Slide 36: Record Profitability in 2021
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 RECORD PROFITABILITY IN 2021 Growing recurring EBIT (€m) and operating margin (%) +2.8 pts 13.5% Exceptional profitability in 2021 supported by high book 98 sales volume across all segments and geographies 10.4% +0.4 pt -0.1 pt Fa
Slide 37: Sales Growth Outperforming Air Traffic
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 SALES GROWTH OUTPERFORMING AIR TRAFFIC THANKS TO DOMESTIC TRAVEL (USA & CHINA) 2021 revenue by geographic area Greater China 11% 8%* Revenue growth accelerated over 2021 along USA & Canada 30% Other with air traffic recovery, suppor
Slide 38: Efficient Cost Structure Ready for Accelerating Recovery
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 EFFICIENT COST STRUCTURE READY FOR ACCELERATING RECOVERY Flow through vs. 2019 24.3% 16.7% 12.2% 11.3% In 2021, Lagardère Travel Retail achieved a low flow through reaching an outstanding 11.8% H1 2020 H2 2020 H1 2021 H2 2021 Mass
Slide 39: Other Activities: Stable Performance and Cost Rationalisation
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 OTHER ACTIVITIES: STABLE PERFORMANCE AND COST RATIONALISATION 2021 revenue by activity Revenue growth at +6.9% vs. 2020*** • Press: positive performance thanks to advertising sales • Radio: revenue down slightly due to lower audienc
Slide 40: 2021 Group Results
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 2021 GROUP RESULTS
Slide 41: Group Results
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 GROUP RESULTS (€m) 2019* 2020* 2021 Revenue 7,211 4,439 5,130 Group recurring EBIT** 378 (155) 249 Operating margin** 5.2% -3.5% 4.9% Total EBIT 411 (549) 66 Profit (loss) – Group share (15) (660) (101) Earnings per share (in €) (0.12
Slide 42: Group Cash Flows
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 GROUP CASH FLOWS (€m) 2019 2020 2021 Net cash from (used in) operations 477 (87) 579 Purchases/disposals of PP&E and intangible assets (183) (169) (123) Free cash flow* 294 (256) 456 o/w free cash flow before changes in working capita
Slide 43: Solid Liquidity with €2.0bn Available as of 31 December 2021
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 SOLID LIQUIDITY WITH €2.0BN AVAILABLE AS OF 31 DECEMBER 2021 Balanced debt maturity profile (€m) 2,039 1,102 501 494 567 539 360 937 163 195 45 6 349 497 494 338 299 11 Available 2022 2023 2024 2025 2026 2027 & liquidity beyond Cash p
Slide 44: Significant Deleveraging: Dividend Pay-out Resolution
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 SIGNIFICANT DELEVERAGING: DIVIDEND PAY-OUT RESOLUTION Net debt (€m) Dividend pay-out (€/share) 1,733 1,535 1,461 1,367 1.30 1.30 0.50* 0 0 31/12/18 31/12/19 31/12/20 31/12/21 2018 2019 2020 2021 2022 Tight cost control and thorough
Slide 45: Glossary
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 GLOSSARY
Slide 46: Glossary (1/3)
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 GLOSSARY (1/3) Lagardère uses alternative performance measures which serve as key indicators of the Group's operating and financial performance. These indicators are tracked by the Executive Committee in order to assess performance an
Slide 47: Glossary (2/3)
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 GLOSSARY (2/3) Flow through is calculated by dividing the change in recurring operating profit of fully-consolidated companies (recurring EBIT) by the change in revenue. This indicator is used by the Group in the context of the Covi
Slide 48: Glossary (3/3)
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 GLOSSARY (3/3) Adjusted profit – Group share is calculated on the basis of profit for the period, excluding non-recurring/non-operating items, net of the related tax and of minority interests, as follows: Profit for the period exclu
Slide 49: Reports of the Statutory Auditors
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 REPORTS OF THE STATUTORY AUDITORS Ernst & Young et Autres Mazars Represented by Represented by Sébastien Huet Simon Beillevaire and Romain Maudry
Slide 50: Reports of the Statutory Auditors
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 REPORTS OF THE STATUTORY AUDITORS Report on the Company’s financial statements (Universal Registration Document: pages 310 to 312) Report on the consolidated financial statements (Universal Registration Document: pages 313 to 316)
Slide 51: Report on the Company's Financial Statements
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 REPORT ON THE COMPANY’S FINANCIAL STATEMENTS First resolution • Unqualified opinion on the financial statements - “[...] the financial statements give a true and fair view of the assets and liabilities and of the financial position
Slide 52: Report on the Consolidated Financial Statements
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS Second resolution • Unqualified opinion on the consolidated financial statements - “[...] the consolidated financial statements give a true and fair view of the assets, liabilities and
Slide 53: Special Report on Related-Party Agreements
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 SPECIAL REPORT ON RELATED-PARTY AGREEMENTS Fourth resolution • Agreement authorised in 2021: - Clean Team agreement between Lagardère SA and Vivendi SE. • Agreements approved during previous years and remaining in force during the y
Slide 54: Reports on Authorisations to Award Shares Free of Consideration
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 REPORTS ON THE AUTHORISATIONS TO AWARD SHARES FREE OF CONSIDERATION Sixteenth and seventeenth resolutions • Award existing or new shares free of consideration. • We have no matters to report on the terms and information provided in
Slide 55: Board of Directors: Membership and Activities
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 BOARD OF DIRECTORS: MEMBERSHIP AND ACTIVITIES Pierre Leroy, Board Advisor Véronique Morali, Chair of the Audit Committee and of the ad hoc Committee Virginie Banet, Chair of the Appointments, Remuneration and CSR Committee
Slide 56: Board of Directors
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 BOARD OF DIRECTORS Pierre Leroy
Slide 57: Overview of the New Governance Structure as of 30 June 2021
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 OVERVIEW OF THE NEW GOVERNANCE STRUCTURE AS OF 30 JUNE 2021 57
Slide 58: Membership of the Board of Directors
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 MEMBERSHIP OF THE BOARD OF DIRECTORS 12 members including 2 employee directors and 1 Board Advisor 57 55.5% 8 Average Percentage of Number age(**) women of meetings(*) on the Board(***) 96.7% 66.6% Attendance rate(*)/(**) Independence
Slide 59: Work of the Board of Directors
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 WORK OF THE BOARD OF DIRECTORS DURING THE SECOND HALF OF 2021 AND FIRST QUARTER OF 2022 Main work carried out Group business and finance • Reviewing the 2021-2024 strategic plan • Approving the 2022-2024 budget • Reviewing and appro
Slide 60: Audit Committee and Ad Hoc Committee
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 AUDIT COMMITTEE AND AD HOC COMMITTEE Véronique Morali
Slide 61: Membership of the Audit Committee
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 MEMBERSHIP OF THE AUDIT COMMITTEE 100% 75% 5 Percentage of women Independence Number on the Committee rate of meetings(*) 100% 1 100% Attendance rate(*) Independent Financial Chair expertise (*) From 30 June 2021 to 31 March 2022 61
Slide 62: Work of the Audit Committee
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 WORK OF THE AUDIT COMMITTEE DURING THE SECOND HALF OF 2021 AND THE FIRST QUARTER OF 2022 Reviewing the 2021 interim and annual financial statements and reviewing the financial information for the third and fourth quarters of 2021
Slide 63: Membership of the Ad Hoc Committee
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 MEMBERSHIP OF THE AD HOC COMMITTEE 50% 80% 8 Percentage of women Independence Number on the Committee(***) rate(***) of meetings(*) 90% 1 1 Attendance rate(*)(**) Independent Employee Chair director (*) From 17 December 2021 to 31 Mar
Slide 64: Work of the Ad Hoc Committee
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 WORK OF THE AD HOC COMMITTEE IN DECEMBER 2021 AND THE FIRST QUARTER OF 2022 Selecting the firm Eight Advisory as independent expert in relation to the proposed public tender offer Following up on the independent expert’s work Re
Slide 65: Appointments, Remuneration and CSR Committee
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 APPOINTMENTS, REMUNERATION AND CSR COMMITTEE Virginie Banet
Slide 66: Membership of the Appointments, Remuneration and CSR Committee
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 MEMBERSHIP OF THE APPOINTMENTS, REMUNERATION AND CSR COMMITTEE 75% 100% 5 Percentage of women Independence Number on the Committee(**) rate(**) of meetings(*) 95.5% 1 1 Attendance rate(*) Independent Employee Chair director (*) From 3
Slide 67: Work of the Appointments, Remuneration and CSR Committee
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 WORK OF THE APPOINTMENTS, REMUNERATION AND CSR COMMITTEE DURING THE SECOND HALF OF 2021 AND THE FIRST QUARTER OF 2022 Regarding sustainable development (CSR) • Reviewing the Group's CSR policy, the main CSR risks and opportunities a
Slide 68: Ratification of the Co-optation of René Ricol
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 RATIFICATION OF THE CO-OPTATION OF RENÉ RICOL AS AN INDEPENDENT MEMBER OF THE BOARD OF DIRECTORS René Ricol Chairman and founder of the consulting firm Ricol Lasteyrie, for which he leads the strategy consulting and crisis managemen
Slide 69: Proposed Resolutions
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 PROPOSED RESOLUTIONS
Slide 70: 1st Resolution
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 1st RESOLUTION Approval of the Company’s financial statements for the year ended 31 December 2021. 70
Slide 71: 2nd Resolution
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 2nd RESOLUTION Approval of the consolidated financial statements for the year ended 31 December 2021. 71
Slide 72: 3rd Resolution
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 3rd RESOLUTION Allocation of the Company’s profit and dividend payment. 72
Slide 73: 4th Resolution
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 4th RESOLUTION Approval of a related-party agreement referred to in article L. 225-38 of the French Commercial Code. 73
Slide 74: 5th Resolution
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 5th RESOLUTION Ratification of the co-optation of René Ricol as a member of the Board of Directors. 74
Slide 75: 6th Resolution
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 6th RESOLUTION Approval of the information disclosed pursuant to article L. 22-10-9 of the French Commercial Code concerning the remuneration of corporate officers. 75
Slide 76: 7th Resolution
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 7th RESOLUTION Approval of the components of remuneration and benefits paid during or allocated in respect of 2021 to Arnaud Lagardère. 76
Slide 77: 8th Resolution
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 8th RESOLUTION Approval of the components of remuneration and benefits paid during or allocated in respect of 2021 to Pierre Leroy. 77
Slide 78: 9th Resolution
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 9th RESOLUTION Approval of the components of remuneration and benefits paid during or allocated in respect of 2021 to Thierry Funck-Brentano. 78
Slide 79: 10th Resolution
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 10th RESOLUTION Approval of the components of remuneration and benefits paid during or allocated in respect of 2021 to Patrick Valroff. 79
Slide 80: 11th Resolution
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 11th RESOLUTION Approval of the 2022 remuneration policy for the Chairman and Chief Executive Officer. 80
Slide 81: 12th Resolution
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 12th RESOLUTION Approval of the 2022 remuneration policy for the Deputy Chief Executive Officer. 81
Slide 82: 13th Resolution
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 13th RESOLUTION Approval of the 2022 remuneration policy for the members of the Board of Directors. 82
Slide 83: 14th Resolution
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 14th RESOLUTION Approval of the overall annual amount of remuneration for the members of the Board of Directors. 83
Slide 84: 15th Resolution
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 15th RESOLUTION Eighteen-month authorisation for the Board of Directors to trade in the Company’s shares. 84
Slide 85: 16th Resolution
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 16th RESOLUTION Thirty-eight month authorisation for the Board of Directors to award performance shares to employees and senior executives of the Company and of related companies or groups. 85
Slide 86: 17th Resolution
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 17th RESOLUTION Thirty-eight month authorisation for the Board of Directors to award free shares to employees and senior executives of the Company and of related companies or groups. 86
Slide 87: 18th Resolution
Annual Ordinary and Extraordinary General Meeting / 22 April 2022 18th RESOLUTION Powers for formalities. 87