Icade Sa · EURONEXT:ICAD
Icade Sa — Shareholder Meeting (May 2025)
92 slides from Icade Sa's shareholder meeting presentation, May 13, 2025
Slide 1: 2025 Combined General Meeting
2025 Combined General Meeting Tuesday, May 13, 2025 PULSE (Saint-Denis, Seine-Saint-Denis)
Slide 2: Disclaimer
DISCLAIMER This document (the “Presentation”) may contain information, opinions and certain forward-looking statements that reflect Icade’s management’s current views and intentions with respect to future events and the financial and operational performance of the Group. Because these forward-lookin
Slide 3: Table of Contents
TABLE OF CONTENTS 1. 2024 Full Year Results 2. Say on Climate and Say on Biodiversity resolutions 3. Statutory Auditors’ reports 4. Governance and remuneration of corporate officers 5. Proposed dividend 6. Q&A 7. Agenda of the Combined General Meeting 8. Resolutions to be voted on 9. Close of Genera
Slide 4: 2024 Full Year Results
1. 2024 FULL YEAR RESULTS PONT DE FLANDRE (Paris, 19th district) 2025 Combined General Meeting I Tuesday, May 13, 2025 4
Slide 5: Key messages
1. 2024 Full Year Results Key messages Group NCCF 2024: €3.98 per share, above guidance Resilient Property Investment division Review of the Development portfolio and early positive signals for the second half of the year Concrete steps one year after announcement of ReShapE strategic plan Carbon re
Slide 6: 2024 Key figures
1. 2024 Full Year Results 2024 Key figures NCCF EPRA NAV Debt management Group NCCF NCCF NAV NTA LTV incl. duties Net debt/EBITDA(2) from strategic operations(1) per share ICADE GROUP €301.8m €223.1m €60.1 36.5% 10.0x -4.1% vs 2023 -10.6% vs 12/31/2023 vs 33.5% (12/31/2023) vs 7.0x (12/31/2023) (€3.
Slide 7: Operational Performance
1.1. OPERATIONAL PERFORMANCE HELSINKI-IÉNA (Paris Orly-Rungis Business Park , Val-de-Marne) 2025 Combined General Meeting I Tuesday, May 13, 2025 7
Slide 8: Good commercial momentum in FY 2024
1.1. Operational performance – Property Investment Good commercial momentum in FY 2024 c.133,000 sq.m €35m 6.4 years 84.7% WALB related to leases signed or signed or renewed Annual headline rental income Financial occupancy rate renewed in 2024 Solid performance from Dynamic activity in Opportunisti
Slide 9: Additional rents coming from deliveries and selective pipeline
1.1. Operational performance – Property Investment Additional rents coming from deliveries and selective pipeline €5.8m annual headline rent €45m potential annual headline rent on started projects secured from deliveries in 2024 in the next three years €872m started pipeline / €286m remaining capex
Slide 10: Limited volume of disposals, with core assets sold above appraised value
1.1. Operational performance – Property Investment Limited volume of disposals, with core assets sold above appraised value 2024 2025 Sales signed for a total of €82m(1) Termination of public-private partnership with Nancy Regional University Hospital (CHRU)(2) Average yield c.5.8% €55m Above NAV as
Slide 11: Positive signals in residential activity
1.1. Operational performance – Property Development Positive signals in residential activity Stable residential activity in 2024… 5,300 units, +1% YoY €1,308m, -3% YoY Order volume Order value … supported by individual orders… … despite a slowdown in bulk orders 17% 7% vs -3.7%(1) (market) -7% -9% V
Slide 12: Residential backlog slightly up at €1.6bn
1.1. Operational performance – Property Development Residential backlog slightly up at €1.6bn, securing revenues in 2025 QUETIGNY RIVE CROMOIS (Dijon, Côte-d'Or) HOYA (Dunkerque, Nord) TIME (Saint-Denis, Seine-Saint-Denis) LA PLATEFORME (Marseille, Bouches-du-Rhône) 2025 Combined General Meeting I T
Slide 13: ReShapE Well on Track
1.2. RESHAPE WELL ON TRACK HYFIVE (La Défense, Hauts-de-Seine) 2025 Combined General Meeting I Tuesday, May 13, 2025 13
Slide 14: ReShapE – Adapt office portfolio to new demands
1.2. ReShapE, well on track ReShapE – Adapt office portfolio to new demands First concrete developments on to-be-repositioned assets Portfolio review(1) Office-to-residential transformation projects IFRS annualized rent: €37.9m, vs €53.1m as of 12/31/2023 Financial occupancy rate: 64.6%, vs 71.4% as
Slide 15: New partnership on student housing
1.2. ReShapE, well on track ReShapE – Accelerate diversification New partnership on student housing to increase value creation • Target: 500-1,000 beds per year • Conversion of to-be-repositioned offices • Signature of a Memorandum of Develo Understanding relating to a pm • Excellent territorial net
Slide 16: On-going diversification with Data Center projects
1.2. ReShapE, well on track ReShapE – Accelerate diversification On-going diversification with Data Center projects 1 Equinix Data Center (Portes de Paris Business Park) 2 Hyperscale Data Center (Paris Orly-Rungis Business Park) Key figures Key figures • Investment: c.€36m Power secured • Power supp
Slide 17: A holistic player committed to building mixed-use districts
1.2. ReShapE, well on track ReShapE – Develop and invest in 2050 city A holistic player committed to building mixed-use districts Publication of a white paper on the Signing of a binding agreement(1) with Casino potential of city fringes Group to buy a property portfolio for €50m Tackle key societal
Slide 18: Financial Results
1.3. FINANCIAL RESULTS TIME (Saint-Denis, Seine-Saint-Denis) 2025 Combined General Meeting I Tuesday, May 13, 2025 18
Slide 19: NCCF 2024: €3.98/share including €2.94 on strategic operations
1.3. Financial results NCCF 2024: €3.98/share including €2.94 on strategic operations (In €m) Above guidance 350.6 €[3.78-3.93]/share (€4.62/share) 301.8 78.7 (€3.98/share) 232.6 30.1 223.1 (€3.07/share) (€2.94/share) (118.0) (36.2) (3.4) Total NCCF 2023 NCCF from NCCF from strategic Property Invest
Slide 20: Breakdown of EPRA NTA in 2024
1.3. Financial results Breakdown of EPRA NTA in 2024 €5,098m NTA €4,557m -10.6% (per share) 3.98 67.2 64.9 60.1 (in € per share) (5.78) (0.48) (4.84) EPRA NTA Group Change Other EPRA NTA 2023 dividend EPRA NTA 12/31/2023 NCCF in FV of Property 12/31/2024 paid in 2024 12/31/2024 Investment assets (cu
Slide 21: Slower decline in asset valuations
1.3. Financial results – Property Investment Slower decline in asset valuations Change in half-year value (In €m, 100% + Group share of JVs basis / excluding duties, on a like-for-like basis) Well-positioned offices Light industrial Total H1 23 H2 23 H1 24 H2 24 H1 23 H2 23 H1 24 H2 24 H1 23 H2 23 H
Slide 22: Debt Management
1.4. DEBT MANAGEMENT PULSE (Saint-Denis, Seine-Saint-Denis) 2025 Combined General Meeting I Tuesday, May 13, 2025 22
Slide 23: Proactive balance sheet management
1.4. Debt management Proactive balance sheet management Strong liquidity Debt maturity management €1.1bn As of December 31, 2024, in €bn(2) Net cash position €350m Tender offer on short- term bonds 2025 & 0.88 2026 0.66 €1.5bn 0.60 0.60 0.65 Unused committed revolving credit facilities(1) 0.43 0.29
Slide 24: Debt ratios reflecting depreciations and limited disposals in 2024
1.4. Debt management Debt ratios reflecting depreciations and limited disposals in 2024 Loan-To-Value Net debt-to-EBITDA(1) In €bn 3,5 3.1 12,0 36,5% 36.5% 3.0 3,0 10,0 33,5% 33.5% 2,5 2,0 10.0x 8,0 6,0 1,5 7.0x 4,0 1,0 0.4 0.3 2,0 0,5 20,0% 0,0 0,0 12/31/2023 12/31/2024 12/31/2023 12/31/2024 LTV in
Slide 25: Healthcare disposal underway
1.4. Debt management Healthcare disposal underway Strategy unchanged to sell Icade’s entire remaining stake in the Healthcare business IHE Stable asset valuation c.-1.7%(1) in 2024 Icade share of NAV Icade’s exposure €0.8bn €0.5bn Recent progress Next steps • Signing of a share swap agreement with P
Slide 26: Q1 2025 Key Takeaways
1.5. Q1 2025 KEY TAKEAWAYS ORIGINE (Nanterre, Hauts-de-Seine) 2025 Combined General Meeting I Tuesday, May 13, 2025 26
Slide 27: Q1 2025 – Key takeaways
1.5. Q1 2025 Key takeaways Q1 2025 – Key takeaways Property Investment: c. 50,000 sq.m signed or renewed in Q1 2025 (emblematic signature on Pulse); stable rental income (LfL +0.5%); resilient occupancy rate on well-positioned offices (88.4%) Property Development: growth in orders in a still complex
Slide 28: Good leasing activity in Q1 2025
1.5. Operational performance - Property Investment Good leasing activity in Q1 2025 … and an emblematic signature Dynamic leasing activity… with the Seine-Saint-Denis Departmental Council c. 50,000 sq.m signed or renewed €12.0m PULSE Secured annual headline rental income c. 29,000 sq.m 9.1 years Fas
Slide 29: Positive signals in residential activity
1.5. Operational performance - Property Development Positive signals in residential activity Positive momentum in residential development… 697 units, +16% YoY €209m, +22% YoY in volume terms in value terms … supported by individual orders… … and institutional bulk orders 20% 28% 28% 432 units 9% 265
Slide 30: Slower revenue growth in both business lines in Q1 2025
1.5. Financial results Slower revenue growth in both business lines in Q1 2025 Change 3m-2025 (in €m and on a 100% basis) 03/31/2025 03/31/2024 vs. 3m-2024 (%) Gross rental income from Property Investment 93.9 93.7 +0.2% Property Development revenue 228.5 223.3 +2.3% Other revenue 3.6 4.9 -26.4% Tot
Slide 31: 2025 Outlook
1.6. 2025 OUTLOOK ORIGINE (Nanterre, Hauts-de-Seine) 2025 Combined General Meeting I Tuesday, May 13, 2025 31
Slide 32: Guidance 2025
1.6. 2025 Outlook Guidance 2025 2025 Guidance Group NCCF per share of €[3.40 – 3.60] Of which c. €0.67/share from non-strategic operations, excluding impact of disposals(1) (1) On the hypothetical basis of a stable ownership of Præmia Healthcare (21.67% after the closing of €29.8m swap of shares wit
Slide 33: Say on Climate and Say on Biodiversity Resolutions
2. SAY ON CLIMATE AND SAY ON BIODIVERSITY RESOLUTIONS QUETIGNY RIVE CROMOIS (Dijon, Côte-d’Or) 2025 Combined General Meeting I Tuesday, May 13, 2025 33
Slide 34: Results in line with the Group's 1.5°C pathway approved by the SBTi
2. Say on Climate – Low-carbon strategy Results in line with the Group’s 1.5°C pathway approved by the SBTi GHG(1) emissions down across all business lines Sharp fall in GHG emissions(2) in 2024 GHG emission reduction targets between 2019 and 2030 2019-2024 results -90% (in kg CO2/sq.m) -28% -44% -6
Slide 35: Our progress on biodiversity
2. Say on Biodiversity – Biodiversity strategy Our progress on biodiversity Rewild(1) new builds Integrate nature-boosting solutions (1) Rewilding progress is assessed as a positive change in the hBAF between the pre-project and post-project periods (2) Buildings located outside business parks whose
Slide 36: Statutory Auditors' Reports
3. STATUTORY AUDITORS’ REPORTS PARIS ORLY-RUNGIS BUSINESS PARK (Val-de-Marne) 2025 Combined General Meeting I Tuesday, May 13, 2025 36
Slide 37: Statutory Auditors' reports
3. Statutory auditors’ reports Statutory Auditors’ reports Ordinary resolutions Extraordinary resolutions ● Report on the annual financial statements ● Report on the authorisation to be given to the Board of Directors to cancel the shares repurchased by the Company (Resolution 1) under Article L. 22
Slide 38: Justification of assessments – Key audit matters
3. Statutory auditors’ reports Report on the annual financial statements (Resolution 1) Opinion ● Unqualified opinion on the annual financial statements Justification of assessments – Key audit matters Our assessments in connection with key audit matters include: ● The measurement of tangible fixed
Slide 39: Report on the annual financial statements (Resolution 1)
3. Statutory auditors’ reports Report on the annual financial statements (Resolution 1) Specific verifications ● We have no matters to report as to the fair presentation, and consistency with the financial statements, of the information given in the management report and in the other documents provi
Slide 40: Justification of assessments – Key audit matters
3. Statutory auditors’ reports Report on the consolidated financial statements (Resolution 2) Opinion ● Unqualified opinion on the consolidated financial statements. Justification of assessments – Key audit matters Our assessments in connection with key audit matters include: ● The divestment of the
Slide 41: Report on the consolidated financial statements (Resolution 2)
3. Statutory auditors’ reports Report on the consolidated financial statements (Resolution 2) Specific verifications ● We have no matters to report as to the fair presentation, and consistency with the financial statements, of the information given in the Group’s management report. Other verificatio
Slide 42: Special report on regulated related party agreements (Resolution 4)
3. Statutory auditors’ reports Special report on regulated related party agreements (Resolution 4) Agreements subject to approval at the General Meeting We have been informed of the following agreement, approved and entered into since the end of the past financial year, which has received prior appr
Slide 43: Statutory Auditors' report on the reduction in share capital
3. Statutory auditors’ reports Report submitted to the Extraordinary General Meeting (Resolution 23) Statutory Auditors’ report on the reduction in share capital (Resolution 23) ● Our procedures consisted in verifying the fairness of the reasons for and the terms and conditions of the proposed reduc
Slide 44: Statutory Auditors' report on the issue of ordinary shares
3. Statutory auditors’ reports Report submitted to the Extraordinary General Meeting (Resolution 27) Statutory Auditors’ report on the issue of ordinary shares and/or securities entitling their holders to shares in the Company reserved for members of a company savings plan (Resolution 27) ● Our proc
Slide 45: Conclusions of the report on the certification of sustainability information
3. Statutory auditors’ reports Conclusions of the report on the certification of sustainability information Compliance with the ESRS of the double materiality assessment and compliance with the requirement to consult the social and economic committee ● We have not identified any material errors, omi
Slide 46: Governance and Remuneration of Corporate Officers
GOVERNANCE 4. AND REMUNERATION OF CORPORATE OFFICERS 29-33 CHAMPS-ÉLYSÉES (Paris, Île-de-France) 2025 Combined General Meeting I Tuesday, May 13, 2025 46
Slide 47: Governance: Board of Directors' proposal to the General Meeting
4. Governance and remuneration of corporate officers Governance Board of Directors’ proposal to the General Meeting on May 13, 2025 • Audrey Girard, Head of Strategic Holdings Management in the Strategic Ratification Holdings Department of Caisse des Dépôts of temporary appointments • Florence Habib
Slide 48: Composition of the Board of Directors
4. Governance and remuneration of corporate officers Governance Composition of the Board of Directors if these proposals are approved Frédéric Thomas Caisse des dépôts Chairman of the Board represented by Bernard Spitz Alexandre Thorel 53% Sophie Quatrehomme Dorothée Clouzot 15 OF WOMEN MEMBERS Gonz
Slide 49: Directors' remuneration
4. Governance and remuneration of corporate officers Directors’ remuneration Directors’ remuneration policy (ex-ante) Total amount Individual fixed remuneration Variable remuneration €600,000/year • Director €1,750/meeting None • Committee member €1,750/meeting Amount unchanged since 2019 • Committe
Slide 50: Remuneration of the Chairman of the Board of Directors
4. Governance and remuneration of corporate officers Remuneration of the Chairman of the Board of Directors Remuneration policy for the Chairman of the Board of Directors (ex-ante) Stock options, bonus / Fixed remuneration Variable remuneration performance shares Benefits in kind €240,000/year None
Slide 51: Remuneration of the Chief Executive Officer (1/2)
4. Governance and remuneration of corporate officers Remuneration of the Chief Executive Officer (1/2) Remuneration of the Chief Executive Officer for 2024 (ex-ante) Fixed remuneration Variable remuneration From 0 to 50% of fixed remuneration €450,000/year i.e. up to €225,000/year A. Financial objec
Slide 52: Remuneration of the Chief Executive Officer (2/2)
4. Governance and remuneration of corporate officers Remuneration of the Chief Executive Officer (2/2) Remuneration of the Chief Executive Officer for 2024 (ex-post) Fixed remuneration Variable remuneration Weight Achieve- Amount Weight Achieve- Amount Financial objectives Non-financial objectives €
Slide 53: Proposed Dividend
5. PROPOSED DIVIDEND 29-33 CHAMPS-ÉLYSÉES (Paris, Île-de-France) 2025 Combined General Meeting I Tuesday, May 13, 2025 53
Slide 54: 2024 dividend
5. 2025 outlook 2024 dividend 2024 dividend(1) €4.31 per share including €2.54 from the completion of Stage 1 of the sale of the Healthcare business in 2023 2024 dividend paid in two instalments: • €2.16 per share paid on March 6, 2025 • €2.15 per share paid on July 3, 2025 2025 Combined General Mee
Slide 55: Q&A
6.Q&A 29-33 CHAMPS-ÉLYSÉES (Paris, Île-de-France) 2025 Combined General Meeting I Tuesday, May 13, 2025 55
Slide 56: Agenda of the Combined General Meeting
AGENDA OF 7. THE COMBINED GENERAL MEETING 29-33 CHAMPS-ÉLYSÉES (Paris, Île-de-France) 2025 Combined General Meeting I Tuesday, May 13, 2025 56
Slide 57: Ordinary resolutions
7. Agenda of the Combined General Meeting Ordinary resolutions 1. Approval of the separate financial statements for the year ended December 31, 2024 – Approval of non-tax deductible expenses and charges 2. Approval of the consolidated financial statements for the year ended December 31, 2024 3. Appr
Slide 58: Ordinary resolutions
7. Agenda of the Combined General Meeting Ordinary resolutions 15. Approval of the remuneration policy for the Chief Executive Officer and/or any other corporate officer 16. Approval of the information referred to in section I of Article L. 22-10-9 of the French Commercial Code 17. Approval of the f
Slide 59: Extraordinary resolutions
7. Agenda of the Combined General Meeting Extraordinary resolutions 23. Authorisation to be given to the Board of Directors to cancel the shares repurchased by the Company under Article L. 22-10-62 of the French Commercial Code 24. Delegation of authority to be given to the Board of Directors to inc
Slide 60: Resolutions to Be Voted On
RESOLUTIONS 8. TO BE VOTED ON 29-33 CHAMPS-ÉLYSÉES (Paris, Île-de-France) 2025 Combined General Meeting I Tuesday, May 13, 2025 60
Slide 61: Resolution 1 – Passed by 99.89% of votes
8. Resolutions to be voted on Resolution 1 Ordinary Resolution Approval of the separate financial statements for the year ended December 31, 2024 – Approval of non- tax deductible expenses and charges 1 Passed by 99.89% of votes 2025 Combined General Meeting I Tuesday, May 13, 2025 61
Slide 62: Resolution 2 – Passed by 99.90% of votes
8. Resolutions to be voted on Resolution 2 Ordinary Resolution Approval of the consolidated financial statements for the year ended December 31, 2024 2 Passed by 99.90% of votes 2025 Combined General Meeting I Tuesday, May 13, 2025 62
Slide 63: Resolution 3 – Passed by 99.93% of votes
8. Resolutions to be voted on Resolution 3 Ordinary Resolution Appropriation of profits for the financial year and determination of the dividend amount 3 Passed by 99.93% of votes 2025 Combined General Meeting I Tuesday, May 13, 2025 63
Slide 64: Resolution 4 – Passed by 98.22% of votes
8. Resolutions to be voted on Resolution 4 Ordinary Resolution Statutory Auditors’ special report on regulated related party agreements and approval of the new agreement mentioned therein 4 Passed by 98.22% of votes 2025 Combined General Meeting I Tuesday, May 13, 2025 64
Slide 65: Resolution 5 – Passed by 96.19% of votes
8. Resolutions to be voted on Resolution 5 Ordinary Resolution Reappointment of Forvis Mazars as principal statutory auditor 5 Passed by 96.19% of votes 2025 Combined General Meeting I Tuesday, May 13, 2025 65
Slide 66: Resolution 6 – Passed by 96.48% of votes
8. Resolutions to be voted on Resolution 6 Ordinary Resolution Reappointment of Forvis Mazars as statutory auditor responsible for the assurance of sustainability reporting 6 Passed by 96.48% of votes 2025 Combined General Meeting I Tuesday, May 13, 2025 66
Slide 67: Resolution 7 – Passed by 97.67% of votes
8. Resolutions to be voted on Resolution 7 Ordinary Resolution Appointment of PricewaterhouseCoopers Audit as statutory auditor responsible for the assurance of sustainability reporting 7 Passed by 97.67% of votes 2025 Combined General Meeting I Tuesday, May 13, 2025 67
Slide 68: Resolution 8 – Passed by 87.14% of votes
8. Resolutions to be voted on Resolution 8 Ordinary Resolution Ratification of the temporary appointment of Ms Audrey Girard as director 8 Passed by 87.14% of votes 2025 Combined General Meeting I Tuesday, May 13, 2025 68
Slide 69: Resolution 9 – Passed by 89.46% of votes
8. Resolutions to be voted on Resolution 9 Ordinary Resolution Ratification of the temporary appointment of Ms Florence Habib- Deloncle as director 9 Passed by 89.46% of votes 2025 Combined General Meeting I Tuesday, May 13, 2025 69
Slide 70: Resolution 10 – Passed by 82.42% of votes
8. Resolutions to be voted on Resolution 10 Ordinary Resolution Reappointment of Ms Dorothée Clouzot as director 10 Passed by 82.42% of votes 2025 Combined General Meeting I Tuesday, May 13, 2025 70
Slide 71: Resolution 11 – Passed by 84.94% of votes
8. Resolutions to be voted on Resolution 11 Ordinary Resolution Reappointment of Mr Olivier Mareuse as director 11 Passed by 84.94% of votes 2025 Combined General Meeting I Tuesday, May 13, 2025 71
Slide 72: Resolution 12 – Passed by 85.74% of votes
8. Resolutions to be voted on Resolution 12 Ordinary Resolution Reappointment of Mr Bernard Spitz as director 12 Passed by 85.74% of votes 2025 Combined General Meeting I Tuesday, May 13, 2025 72
Slide 73: Resolution 13 – Passed by 99.79% of votes
8. Resolutions to be voted on Resolution 13 Ordinary Resolution Approval of the remuneration policy for the members of the Board of Directors 13 Passed by 99.79% of votes 2025 Combined General Meeting I Tuesday, May 13, 2025 73
Slide 74: Resolution 14 – Passed by 99.77% of votes
8. Resolutions to be voted on Resolution 14 Ordinary Resolution Approval of the remuneration policy for the Chairman of the Board of Directors 14 Passed by 99.77% of votes 2025 Combined General Meeting I Tuesday, May 13, 2025 74
Slide 75: Resolution 15 – Passed by 90.09% of votes
8. Resolutions to be voted on Resolution 15 Ordinary Resolution Approval of the remuneration policy for the Chief Executive Officer and/or any other corporate officer 15 Passed by 90.09% of votes 2025 Combined General Meeting I Tuesday, May 13, 2025 75
Slide 76: Resolution 16 – Passed by 96.47% of votes
8. Resolutions to be voted on Resolution 16 Ordinary Resolution Approval of the information referred to in section I of Article L. 22-10-9 of the French Commercial Code 16 Passed by 96.47% of votes 2025 Combined General Meeting I Tuesday, May 13, 2025 76
Slide 77: Resolution 17 – Passed by 99.78% of votes
8. Resolutions to be voted on Resolution 17 Ordinary Resolution Approval of the fixed, variable and exceptional components of total remuneration and benefits of any kind paid during the past financial year or granted for the same period to Mr Frédéric Thomas, Chairman of 17 the Board of Directors Pa
Slide 78: Resolution 18 – Passed by 95.98% of votes
8. Resolutions to be voted on Resolution 18 Ordinary Resolution Approval of the fixed, variable and exceptional components of total remuneration and benefits of any kind paid during the past financial year or granted for the same period to Mr Nicolas Joly, Chief Executive Officer 18 Passed by 95.98%
Slide 79: Resolution 19 – Passed by 99.86% of votes
8. Resolutions to be voted on Resolution 19 Ordinary Resolution Authorisation to be given to the Board of Directors to have the Company repurchase its own shares under Article L. 22-10-62 of the French Commercial Code 19 Passed by 99.86% of votes 2025 Combined General Meeting I Tuesday, May 13, 2025
Slide 80: Resolution 20 Say on Climate – Passed by 99.28% of votes
8. Resolutions to be voted on Resolution 20 Ordinary Resolution Say on Climate 20 Passed by 99.28% of votes 2025 Combined General Meeting I Tuesday, May 13, 2025 80
Slide 81: Resolution 21 Say on Biodiversity – Passed by 99.36% of votes
8. Resolutions to be voted on Resolution 21 Ordinary Resolution Say on Biodiversity 21 Passed by 99.36% of votes 2025 Combined General Meeting I Tuesday, May 13, 2025 81
Slide 82: Resolution 22 – Passed by 99.94% of votes
8. Resolutions to be voted on Resolution 22 Ordinary Resolution Ratification of the change of registered office from 27 rue Camille Desmoulins, 92130 Issy-les-Moulineaux, France to 1, avenue du Général de Gaulle, 92800 Puteaux, France, effective December 27, 2024 22 Passed by 99.94% of votes 2025 Co
Slide 83: Resolution 23 – Passed by 99.89% of votes
8. Resolutions to be voted on Resolution 23 Extraordinary Resolution Authorisation to be given to the Board of Directors to cancel the shares repurchased by the Company under Article L. 22-10-62 of the French Commercial Code 23 Passed by 99.89% of votes 2025 Combined General Meeting I Tuesday, May 1
Slide 84: Resolution 24 – Passed by 99.61% of votes
8. Resolutions to be voted on Resolution 24 Extraordinary Resolution Delegation of authority to be given to the Board of Directors to increase the share capital by capitalisation of reserves, profits and/or share premiums 24 Passed by 99.61% of votes 2025 Combined General Meeting I Tuesday, May 13,
Slide 85: Resolution 25 – Passed by 95.91% of votes
8. Resolutions to be voted on Resolution 25 Extraordinary Resolution Delegation of authority to be given to the Board of Directors to issue ordinary shares with pre-emptive rights for existing shareholders 25 Passed by 95.91% of votes 2025 Combined General Meeting I Tuesday, May 13, 2025 85
Slide 86: Resolution 26 – Passed by 94.57% of votes
8. Resolutions to be voted on Resolution 26 Extraordinary Resolution Authorisation to be given to the Board of Directors to increase the amount of new shares being issued 26 Passed by 94.57% of votes 2025 Combined General Meeting I Tuesday, May 13, 2025 86
Slide 87: Resolution 27 – Passed by 96.52% of votes
8. Resolutions to be voted on Resolution 27 Extraordinary Resolution Delegation of authority to be given to the Board of Directors to increase the share capital by issuing ordinary shares and/or securities entitling their holders to shares in the Company, without pre- emptive rights, to members of a
Slide 88: Resolution 28 – Passed by 99.93% of votes
8. Resolutions to be voted on Resolution 28 Extraordinary Resolution Amendment to Article 10 of the Articles of Association on the use of telecommunication means during meetings of the Board of Directors and on written resolutions of the Board of Directors 28 Passed by 99.93% of votes 2025 Combined
Slide 89: Resolution 29 – Passed by 99.94% of votes
8. Resolutions to be voted on Resolution 29 Extraordinary Bringing Article 15 of the Articles of Resolution Association into line with current regulations 29 Passed by 99.94% of votes 2025 Combined General Meeting I Tuesday, May 13, 2025 89
Slide 90: Resolution 30 – Passed by 99.94% of votes
8. Resolutions to be voted on Resolution 30 Ordinary Resolution Powers to complete formalities 30 Passed by 99.94% of votes 2025 Combined General Meeting I Tuesday, May 13, 2025 90
Slide 91: Close of General Meeting
4. 9. CLOSE OF GENERAL MEETING DESTINATION GAVY (Saint-Nazaire, Loire-Atlantique) 2025 Combined General Meeting I Tuesday, May 13, 2025 91
Slide 92: Financial calendar
9. Upcoming events Financial calendar Upcoming key events Final dividend payment Ex-dividend date: July 1, 2025 (€2.15 per share) Payment date: July 3, 2025 2025 Half Year Results July 23, 2025 Q3 2025 results October 22, 2025 2025 Combined General Meeting I Tuesday, May 13, 2025 92