Vivendi Se · EURONEXT:VIV
Vivendi — Shareholder Meeting (April 2024)
99 slides from Vivendi's shareholder meeting presentation, Apr 29, 2024
Slide 1: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 29, 2024
Slide 2: 44% Conglomerate Discount Applied to Vivendi Valuation
44% CONGLOMERATE DISCOUNT APPLIED TO VIVENDI VALUATION In €M In € / share Valuation of Vivendi businesses based on consensus* 12,945 12.6 UMG (10%, market value @ 25.4€/share**) 4,614 4.5 Market value of other listed equity interests 2,746 2.7 Treasury shares 47 - Market value of portfolio of equity
Slide 3: Present Situation / Project Under Study
PRESENT SITUATION PROJECT UNDER STUDY VIVENDI VIVENDI SHAREHOLDERS SHAREHOLDERS PUBLISHING & TRAVEL RETAIL CO. 100% 100% 60% 100% 60% 100% Other investments Other investments |6
Slide 4: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 29, 2024
Slide 5: Arnaud de Puyfontaine
Arnaud de Puyfontaine Chairman of the Management Board
Slide 6: Vivendi Share Price (Dividends Reinvested)
VIVENDI SHARE PRICE (DIVIDENDS REINVESTED) FROM JUNE 30, 2023 TO APRIL 24, 2024 130 +10% 120 110 100 90 80 70 juin 2323 June juil. 23 July 23 août 2323 August sept. 23 Sept. 23 oct. 23 Oct. 23 nov. 23 Nov. 23 déc. 23 Dec. 23 janv. 24 Jan. 24 févr.24 Feb. 24 mars 2424 March Vivendi CAC40
Slide 7: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 29, 2024
Slide 8: François Laroze
François Laroze Chief Financial Officer
Slide 9: Finances: Continued Strong Momentum
2023 : Revenues € 10.5 bn +9.5% CONTINUED EBITA of STRONG controlled € 715 M +10.6% businesses MOMENTUM FINANCES Adjusted net FOR EACH OF income € 722 M x2.1 OUR ENTITIES Earnings attributable to € 405 M na Vivendi SE shareowners Headcount 73,000 x2
Slide 10: Customers Across Five Continents, Revenues of €10.5 Billion
CUSTOMERS ACROSS FIVE CONTINENTS, REVENUES OF €10.5 BILLION* * 2023 revenue €4,642 M €2,657 M France Europe (excluding France) €543 M Asia-Pacific 25% 44% €1,678 M€ 5% Americas €990 M 16% Africa 9%
Slide 11: Combination with the Lagardère Group
COMBINATION WITH THE LAGARDÈRE GROUP 2023 PROFORMA* REVENUES 2023 Revenues €17.9 billion In euro millions Proforma* Canal+ Group 6,058 EBIT €1.2 billion Lagardère 8,081 FINANCES Earnings Havas 2,872 attributable to €446 M Prisma Media 309 Vivendi SE shareowners Gameloft 311 Vivendi Village 180 Headc
Slide 12: Robust Financial Situation
ROBUST FINANCIAL SITUATION AS OF DECEMBER 31, 2023 Shareowners’ equity €17.1 billion Financial Net Debt €2.8 billion FINANCES Available credit facilities €3.2 billion Cash Flow From Operations €0.9 billion (CFFO)
Slide 13: Financial Net Debt Evolution
FINANCIAL NET DEBT EVOLUTION (in euro billions) (0,6) 0,9 (0,6) 0,7 (0,3) (0,8) (0,9) FINANCES (2,0) (2,8) Net debt CFFO C+ and Havas Dividend Sale of Editis Interest, taxes Vivendi 's Lagardère' s Total net debt as of M&A paid to and Gala and other net debt * net debt as of Dec. 31, 202
Slide 14: Revenue Growth
REVENUE GROWTH DRIVEN BY HAVAS, CANAL+ AND THE INTEGRATION OF LAGARDÈRE In euro millions 2023 2022 Δ (%) Canal+ Group 6,058 5,870 +3.2% Lagardère* 670 na na Havas 2,872 2,765 +3.9% Prisma Media 309 320 -3.4% FINANCES Gameloft 311 321 -3.0% Vivendi Village 180 238 -24.2% of which ticketing and festiv
Slide 15: EBITA
EBITA In euro millions 2023 2022 Δ (%) Canal+ Group 525 515 +2.0% Lagardère* 20 na na Havas 310 286 +8.3% Prisma Media 28 31 -10.6% Gameloft 5 12 -57.5% FINANCES Vivendi Village 13 (6) New Initiatives (43) (46) Generosity and solidarity (13) (13) Corporate (130) (133) EBITA of controlled businesses
Slide 16: Canal+ Group in 2023
CANAL+ GROUP IN 2023 Revenues of over €6 billion in 2023 Revenue growth of the businesses: +3% ▶ Mainland France: +3.3% ▶ International: +1.2% ▶ Studiocanal: 14.0% EBITA continued growth to €525 million
Slide 17: Lagardère in 2023
LAGARDÈRE IN 2023 Annual revenue of over €8 billion Three activities: ▶ Publishing: €2.8 billion in revenues and profitability > 10% ▶ Travel Retail: €5.0 billion in revenue and €245 M in recurring EBIT ▶ News, Radio and Live Entertainment: €254 M in revenue
Slide 18: Havas in 2023
HAVAS IN 2023 A strong organic growth: +4.4% ▶ One of the fastest-growing companies in the communications sector EBITA margin of 11.5%, a steady growth over last few years Positive contribution of the three divisions: Havas Creative, Havas Media et Havas Health & You ~1,400 creative awards g
Slide 19: Prisma Media, Gameloft, Vivendi Village and Canal+ Telecom Highlights
1/3 of revenues generated by digital / France’s preeminent online video media group Dynamic M&A strategy Continuation of the diversification strategy around cross-platform games PC/console revenues: +28% in 2023 (36% of total revenue) Successful launch of the new app in May 2023 Steady r
Slide 20: A Unique Portfolio of Equity Interests
A UNIQUE PORTFOLIO OF EQUITY INTERESTS 10% Total value* 17% > 41% ~€8 billion 20% FINANCES 30% 19% Dividends received** (in 2023) 29% €171 million 11% 1% * Ownership percentage and market value as of April 19, 2024 ** excluding Lagardère
Slide 21: Strong Revenue Growth in the First Quarter of 2024
STRONG REVENUE GROWTH IN THE FIRST QUARTER OF 2024 Δ organic Q1 2024 Q1 2023 Δ (%) In euro millions (%) Canal+ Group 1,542 1,478 +4.3% +2.6% Lagardère 1,883 na na +8.9% Havas 649 611 +6.2% +3.4% FINANCES Prisma Media 71 73 -3.5% +0.7% Gameloft 68 71 -3.4% -2.9% Vivendi Village 31 33 -6.7% -0.6% New
Slide 22: Vivendi SE's 2023 Statutory Results and Allocation of Earnings
Vivendi SE’s 2023 statutory results and allocation of earnings
Slide 23: 2023 Statutory Earnings
2023 STATUTORY EARNINGS In euro millions 2023 Operating income (loss) (133) Dividends received 327 Impairment and other financial items (3,011) FINANCES Net financial income (2,684) Net exceptional items (51) Income tax 81 Earnings (loss) (2,786)
Slide 24: Proposed Ordinary Dividend for 2023
PROPOSED ORDINARY DIVIDEND FOR 2023 FINANCES *Ex-dividend date of April 30, 2024 and dividend payment date as from May 3, 2024 ** compared to the closing price of Vivendi shares as of December 31, 2023
Slide 25: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 29, 2024
Slide 26: Cathia Lawson-Hall
Cathia Lawson-Hall Chairwoman of the Audit Committee
Slide 27: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 29, 2024
Slide 28: Philippe Bénacin
Philippe Bénacin Vice Chairman of the Supervisory Board Chairman of the Corporate Governance, Nominations and Remuneration Committee
Slide 29: 2023 Compensation of Corporate Officers
Global vote for all Vivendi’s corporate officers (5th resolution) 2023 COMPENSATION Compensation of the Chairman of the Supervisory Board Supervisory Board (6th resolution) OF CORPORATE OFFICERS Compensation of the Chairman of the Management Board (5th to 12th resolution) (7th resolution) Co
Slide 30: Compensation Policy for 2024
COMPENSATION POLICY FOR 2024 (13TH TO 15TH RESOLUTION) Maintaining the improvements made in the last CHAIRMAN AND MEMBER few years, including: OF THE SUPERVISORY BOARD No allocation of Vivendi shares linked to stock market (13th resolution) performance if it is lower than the index median (Stoxx
Slide 31: Evolution of Governance
SUPERVISORY BOARD: Renewal of the term of office of Mr. Yannick Bolloré (16th resolution) EVOLUTION OF GOVERNANCE (16th to 17th resolution) Renewal of the term of office of Mr. Laurent Dassault (17th resolution) → Maintenance of independence (55%) and gender balance (55%) ratios
Slide 32: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 29, 2024
Slide 33: Claire Pajona
Claire Pajona Statutory Auditor E&Y
Slide 34: Statutory Auditors' Engagement
STATUTORY AUDITORS’ ENGAGEMENT OBJECTIVE INFORMATION PROVIDED TO MANAGEMENT AND GOVERNANCE BODIES In accordance with French professional standards, our objective was to obtain reasonable assurance that the consolidated and the statutory financial statements for the 2023 financial year were free
Slide 35: Reports on the 2023 Financial Statements
REPORTS ON THE 2023 FINANCIAL STATEMENTS AND CONSOLIDATED FINANCIAL STATEMENTS OF VIVENDI SE OPINIONS Unqualified opinion on the financial statements of Unqualified opinion on the consolidated financial Vivendi SE for FY 2023 statements of Vivendi SE for FY 2023 Page 404 of the 2023 Annual Report –
Slide 36: Reports on the 2023 Financial Statements: Key Audit Matters
REPORTS ON THE 2023 FINANCIAL STATEMENTS AND CONSOLIDATED FINANCIAL STATEMENTS OF VIVENDI SE Justification of assessments – Key audit matters The justification of our assessments and the key audit matters relating to: The financial statements, concern the estimates The consolidated financial sta
Slide 37: Reports on the 2023 Financial Statements: Other Verifications
REPORTS ON THE 2023 FINANCIAL STATEMENTS AND CONSOLIDATED FINANCIAL STATEMENTS OF VIVENDI SE OTHER SPECIFIC VERIFICATIONS We have no matters to report on the information relating to the Group published in the Management Board’s report or on that relating to other legal and regulatory obligations. ER
Slide 38: Special Report on Related Party Agreements
SPECIAL REPORT ON RELATED PARTY AGREEMENTS SPECIAL REPORT ON RELATED PARTY NEW AGREEMENTS 2023 AGREEMENTS We have not been notified of any agreements entered into Special report on related party agreements on page 434 of the and authorized during the year ended December 31, 2023, to 2023 Annual Re
Slide 39: Agreements Approved in Prior Years with Continuing Effect
SPECIAL REPORT ON RELATED PARTY AGREEMENTS AGREEMENTS APPROVED IN PRIOR YEARS WITH The agreement authorized by the Supervisory CONTINUING EFFECT DURING THE YEAR ENDED Board on September 15 and November 18, 2021, DECEMBER 31, 2023 and approved by the General Shareholders' Meeting on April 25, 2022:
Slide 40: Agreements Approved in Prior Years with No Continuing Effect
SPECIAL REPORT ON RELATED PARTY AGREEMENTS AGREEMENTS APPROVED IN PRIOR YEARS WITH The agreement authorized by the Supervisory NO CONTINUING EFFECT DURING THE YEAR Board on May 3, 2021, and approved by the ENDED DECEMBER 31, 2023 General Shareholders’ Meeting on June 22, 2021, was not implemented
Slide 41: Reports Issued on the Extraordinary Resolutions
REPORTS ISSUED ON THE EXTRAORDINARY RESOLUTIONS OTHER REPORTS ISSUED ON THE We have no matters to report on the reports issued EXTRAORDINARY RESOLUTIONS on: delegation of powers in order to cancel the shares purchased by the Company, up to a maximum of 10% of your Company’s share capital, pursua
Slide 42: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 29, 2024
Slide 43: Assemblée générale mixte - 29 avril 2024
Assemblée générale mixte - 29 avril 2024 46
Slide 44: Assemblée générale mixte - 29 avril 2024
Assemblée générale mixte - 29 avril 2024 47
Slide 45: Assemblée générale mixte - 29 avril 2024
Assemblée générale mixte - 29 avril 2024 48
Slide 46: Canal+ Group: 17.1 Million Subscribers
CANALt GROUP 17.1 MILLION SUBSCRIBERS 19 PRODUCTION COMPANIES 7 © viaplay MILLION SUBSCRIBERS
Slide 47: Canal+ Group: 1.2 Million Subscribers
CANALtT GROUP 1.2 MILLION SUBSCRIBERS HITS 4 13 MILLION H SUBSCRIBERS (©) viv
Slide 48: Million Subscribers, Production Companies
8 MILLION SUBSCRIBERS 6 PRODUCTION COMPANIES 20 MILLION SUBSCRIBERS
Slide 49: Canal+ Partners
CANAL+ =a eld “& CANAL+ | ®viaplay HE Oviu gva [4 Spaltymorion
Slide 50: Assemblée générale mixte - 29 avril 2024
Assemblée générale mixte - 29 avril 2024 53
Slide 51: 15 Million
_CANAL*™ GROUP 15 MiILLion £ a
Slide 52: 62 Million
@viv ORIGINAL [ITAX! DRIVERIE pel
Slide 53: 400 Million
CANAL+ ee GROUP ) ] ~~ 400 miLLion —~ EIT) wcmrrterecmrenees DAILYMOTION Soe nee nee Store ic ido avec un Se (Ca Letterman
Slide 54: Assemblée générale mixte - 29 avril 2024
Assemblée générale mixte - 29 avril 2024 57
Slide 55: Tickets Sold
> 300 MILLION 11 MILLION TICKETS SOLD 7CÉSAR
Slide 56: Canal+
CA NALT I
Slide 57: Million Representations
+2 MILLION 22 MILLION 17 REPRESENTATIONS 3MILLION
Slide 58: Canal+ Group
CANAL+ GROUP CANAL+ CANAL+ VOLYMPIA CANAL+ gaooonon ~ | CANAL+|
Slide 59: Canal+ Group Film Releases
CANAL+ GROUP thei cturécomp . ux COMmMpPall a | 2014 2018 2019 2023 LIAM NEESON NON- “STOP. _ secur becom 2025 COMING SOON COLD STORAGE
Slide 60: $500M Box Office, 60M Books Sold
$500 M BOX-OFFICE 60 M BOOKS AND SOFT TOYS SOLD WORLDWIDE 3 MOVIES 3 EMMY AWARDS
Slide 61: Studiocanal
STUDIOC }
Slide 62: Studiocanal
STUDIOCANAL
Slide 63: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 29, 2024
Slide 64: Claire Léost
Claire Léost Member of the Management Board President, Prisma Media
Slide 65: Prisma Media
PM PRISMA MEDIA 1 (UKILGS Sista cuisineaz déco.fr GUO! [BRE flow: fourchewe iin’: [SENT GEO BAZAR BSE IDEAT GiieiBie fem Management meteecity MiIK apes? Dees MEON Ml! Qezsiere MAGAZINE prima (simone) g¥6lé, 6. teléZ TheGoodLife TURES) FYSrande> Voici semaines haines
Slide 66: Development of Our Luxury & Art of Living Division
DEVELOPMENT OF OUR LUXURY & ART OF LIVING DIVISION
Slide 67: Reinventing Our Historic Brands
REINVENTING OUR HISTORIC BRANDS
Slide 68: Increased Presence on Social Media
INCREASED PRESENCE ON SOCIAL MEDIA 50 MILLION SUBSCRIBERS
Slide 69: Artificial Intelligence: Opportunities to Be Seized, Challenges to Be Met
ARTIFICIAL INTELLIGENCE OPPORTUNITIES TO BE SEIZED, CHALLENGES TO BE MET
Slide 70: Prisma Media
PM PRISMA MEDIA 1 (UKILGS Sista cuisineaz déco.fr GUO! [BRE flow: fourchewe iin’: [SENT GEO BAZAR BSE IDEAT GiieiBie fem Management meteecity MiIK apes? Dees MEON Ml! Qezsiere MAGAZINE prima (simone) g¥6lé, 6. teléZ TheGoodLife TURES) FYSrande> Voici semaines haines
Slide 71: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 29, 2024
Slide 72: Raphaël de Andréis
Raphaël de Andréis Member of the Executive Committee Chairman, Havas France and Europe
Slide 73: Our Strategic Transformation
OUR STRATEGIC TRANSFORMATION LARGE SCALE CUSTOMER EXPERIENCE POP PRODUCTION LAUNCH OF NETWORK NETWORK HAVAS HEALTH & YOU & HAVAS MARKET & NETWORK E-COMMERCE SOLUTION ADOBE, MIRAKL PARTNERSHIPS TOGETHER MISSION: HAVAS PLAY AGENCY, INTEGRATION STRATEGY MAKE A MEANINGFUL AND H/ADVISORS STRATEGIC DIFFER
Slide 74: Havas: Investing for the Future
HAVAS: FOR THE FUTURE = VU MIRAKL CX Network
Slide 75: Havas Acquisitions Timeline
March 2024 July 2023 WILDERNESS UNCOMMON (UK) (UK) January 2024 April 2023 NOISE DIGITAL LEDGER BENNETT (CANADA) (UK) January 2023 HRZN (GERMANY) December 2023 EPROFESSIONAL (GERMANY) November 2023 KLARECO September 2023 (SINGAPORE) April 2024 CV&A TED CONSULTING (PORTUGAL) (FRANCE) September 2023 J
Slide 76: Havas Group in France WARC Rankings
JEU, SE ET WARC Le groupe Havas en France se di: stingue aux classements WARC récompensant les meilleure; agences et campagnes de communication : HAVAS Play HAVAS Paris Meilleure agence créative du monde Premiére agence fra’ au classement mondial / CREATIVE Campagne Anne de Gaull Premiére campagne f
Slide 77: Our Optimization Solution
OUR OPTIMIZATION SOLUTION PREDICTIVE SCENARIOS BUSINESS CARBON PEFORMANCE IMPACT MANAGEMENT CONTROL
Slide 78: Havas
HAVAS
Slide 79: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 29, 2024
Slide 80: Yannick Bolloré
Yannick Bolloré Chairman of the Supervisory Board
Slide 81: Inspiring Change
INSPIRING CHANGE vivendi
Slide 82: Our CSR Program
OUR CSR PROGRAM Inspiring Working for Contributing to change a more halting global through inclusive warming culture world
Slide 83: Carbon Emissions Reduction Plan Approved in 2023
CARBON EMISSIONS REDUCTION PLAN APPROVED IN 2023 by 2035 ENERGY RENEWABLE by 2030 ELECTRICITY -71% (Scopes 1 & 2) 1.5°C scenario 100% OPERATIONS by 2035 BUSINESS ACTIVITIES by 2035 -43% (Scope 3: waste, freight, business travel, investments, etc.) WB 2°C scenario -21% (Scope 3: products and services
Slide 84: 2023 Results
2023 RESULTS (compared to 2022) ENERGY RENEWABLE PARTIAL SCOPES 1 & 2 ELECTRICITY SCOPE 3 -20% 60% (+23 PTS) +1% (-18 PTS) (-10 PTS)
Slide 85: Vivendi Foundation
VIVENDI FOUNDATION 30,000 BENEFICIARIES 15 COUNTRIES
Slide 86: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 29, 2024
Slide 87: Céline Merle-Béral
Céline Merle-Béral Member of the Management Board Chief of HR Strategy and Corporate culture
Slide 88: Workforce by Geographical Zone
WORKFORCE BY GEOGRAPHICAL ZONE Total employees 72,958 in 86 countries EUROPE NORTH AMERICA 41,288 MIDDLE EAST ASIA PACIFIC 14,864 9,319 AFRICA 3,202 SOUTH AND CENTRAL AMERICA 4,285
Slide 89: Vivendi: A Place to Grow
VIVENDI A PLACE TO GROW ▶ DYNAMIC 94% praise the quality of the working relationship Vivendi Survey ▶ HYBRID ▶ LEARNING 86% know what they have to do ▶ CARING to succeed Vivendi Survey
Slide 90: Training and Employee Support
89% OF EMPLOYEES TRAINED NEARLY 400,000 75% feel supported by their manager HOURS OF TRAINING Vivendi Survey 2 TAILOR-MADE AI E-LEARNING MODULES 8,000+ TRAINING COURSES TAKEN
Slide 91: Women on Management Bodies
40% women on the Group’s management bodies in 2023 58% women and 54% female managers in the Group Professional equality index: 91/100 (France)
Slide 92: Inclusivity, Diversity, Equal Opportunities
▶ INCLUSIVITY 83% say that they can be authentic ▶ DIVERSITY Vivendi Survey ▶ EQUAL OPPORTUNITIES
Slide 93: Nearly 10,000 People Involved
NEARLY 10,000 PEOPLE INVOLVED Nearly 10,000 people involved all over the world
Slide 94: 77% Are Proud to Be Part of Their Company
77% are proud to be part of their company Vivendi Survey
Slide 95: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 29, 2024
Slide 96: Questions & Answers
Questions & Answers vivendi
Slide 97: Resolutions Submitted to the Combined General Shareholders' Meeting
Resolutions submitted to the Combined General Shareholders’ Meeting and summary of votes cast remotely and via the internet
Slide 98: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 29, 2024
Slide 99: Combined General Shareholders' Meeting
COMBINED GENERAL SHAREHOLDERS’ MEETING April 29, 2024