Tuesday, 5 May 2026 at 9:30 a.m.
AGENDA SUMMARY PRESENTATION
Ordinary General Meeting / 5 May 2026
Ordinary General Meeting / 5 May 2026
RESOLUTIONS
1st to 3rd resolutions
Approval of the Company's financial statements and the consolidated financial statements for the year ended 31 December 2025
Allocation of the Company's profit and dividend payment
4th resolution Appointment of Grant Thornton as Statutory Auditor for a six-year term
5th resolution Decision not to reappoint or replace Forvis Mazars as Statutory Auditor responsible for auditing sustainability information
6th to 9th resolutions
Overall approval of the 2025 remuneration of corporate officers ("overall ex-post vote")
Approval of the 2025 remuneration of the Chairman and Chief Executive Officer ("individual ex-post vote")
Approval of the 2026 remuneration policies for the members of the Board of Directors and the Chairman and Chief Executive Officer ("ex-ante votes")
10th resolution Eighteen-month renewal of the share buyback programme
11th resolution Powers for formalities
The full agenda is set out on page 26 of the General Meeting Brochure
3
2026 GENERAL MEETINGArnaud Lagardère
Chairman and Chief Executive Officer of Lagardère SA
5 May 2026
Ordinary General Meeting / 5 May 2026
CONTENTS
1
2025 key figures
2
Market position, achievements and strategy
Ordinary General Meeting / 5 May 2026
2025 KEY FIGURES: MORE THAN 33,000 EMPLOYEES WORLDWIDE (1/2)
Lagardère Live
3%
926 employees Lagardère Publishing
21%
7,643 employees
Permanent workforce by gender
Women Men
62% | 38% |
20,671 | 12,436 |
Group
Lagardère Travel Retail 76%
24,543 employees
Permanent workforce
by business
64% | 36% |
4,891 | 2,748 |
Lagardère Publishing
63% | 37% |
15,393 | 9,149 |
Lagardère Travel Retail
42% | 58% |
387 | 539 |
Lagardère Live
Ordinary General Meeting / 5 May 2026
2025 KEY FIGURES: MORE THAN 33,000 EMPLOYEES WORLDWIDE (2/2)
Permanent workforce by geographic area
Americas 35%
11,612 employees
Europe
(excl. France)
39%
12,977 employees
France 17%
5,651
employees
Africa 1%
352 employees
Asia-Pacific 8%
2,520 employees
Ordinary General Meeting / 5 May 2026
2025 KEY FIGURES: REVENUE (1/2)
€9,353m
Revenue
€641m
Group recurring EBIT
€367m
CFAIT(1)
More than
33,000
employees
More than 50 countries of operation
542 consolidated
subsidiaries
(1) CFAIT: cash flow after interest and income taxes
Lagardère Travel Retail 66%
Lagardère Live
2%
Revenue
by business
Lagardère Publishing 32%
Ordinary General Meeting / 5 May 2026
2025 KEY FIGURES: REVENUE (2/2)
Breakdown of revenue by geographic area (%)(1)
United States and Canada 26%
Europe
(excl. France)
43%
France 21%
Asia-Pacific 5%
Latin America, Middle East and Africa 5%
(1) By destination
Ordinary General Meeting / 5 May 2026
2025 KEY FIGURES: RECURRING EBIT (1/2)
Record performance confirming the relevance of the Group's long-term strategy
(€m)
10 000
9 000
8 000
7 000
6 000
5 000
4 000
593
641
462 402
5.8% 5.2%
339
4.6%
395
5.3%
399
5.6%
417 378
5.7% 5.2%
438
6.3%
520
6.4%
6.6%
-155
-3.5%
249
4.8%
327 | 342 | 378 |
4.5% | 4.8% | 5.2% |
6.9%
3 000
2 000
1 000
0
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Revenue Recurring EBIT XX% Operating marginGroup recurring EBIT (€641m, up 8% vs 2024) and operating margin (6.9%)
at record levels not seen for more than 15 years
Ordinary General Meeting / 5 May 2026
2019-2025 KEY FIGURES: LAGARDÈRE PUBLISHING
Change in revenue (€m)
Change in recurring EBIT (€m)
32%
+2.7%(1)
2025
2,748
2,809
2,873
3,001
2,384
2,375
2,598
351
302
301
310
312
220
246
revenue
2019 2020 2021 2022 2023 2024 2025 2019 2020 2021 2022 2023 2024 2025
▪
▪
Lagardère Publishing delivered robust growth in 2025, with revenue up 2.7% vs 2024, driven by a large
number of publishing successes and by the momentum of the Partworks and Board Games businesses
Recurring EBIT climbed to €312m and operating margin came out well above pre-Covid levels (10.4% in 2025 vs 9.2% in 2019)
(1) Like for like
Ordinary General Meeting / 5 May 2026
2019-2025 KEY FIGURES: LAGARDÈRE TRAVEL RETAIL
Change in revenue (€m)
Change in recurring EBIT (€m)
66%
+4.4%(1)
2025
revenue
5,018
4,264
3,927
1,720
2,290
5,812
6,133
245
152
136
(353)
(81)
2019
2022
2023
2024
2025
2021
305
334
2019 2020 2021 2022 2023 2024 2025 2020
▪
▪
Lagardère Travel Retail maintained its growth momentum and posted record revenue, up 4.4% vs 2024,
driven by the openings of numerous points of sale worldwide
Recurring EBIT came to a record €334 million (up 9.5% vs 2024) with a further year-on-year increase in operating margin
(1) Like for like
Ordinary General Meeting / 5 May 2026
2025 KEY FIGURES: RECURRING EBIT (2/2)
Change in recurring EBIT of Lagardère Publishing and Lagardère Travel Retail
152
2022
136
2019
351
(353)
Lagardère Travel Retail recurring EBIT
Lagardère Publishing recurring EBIT
2025
2024
2023
302
2021
(81)
2020
245
312
305
246
220
334
310
301
Ordinary General Meeting / 5 May 2026
2019-2025 KEY FIGURES: LAGARDÈRE LIVE
Change in revenue (€m)
Change in recurring EBIT (€m)
2%
2025
revenue
288
+1.4%(1)
2019
2021
2022
2023
2024
2025
(11)
(47)
(21)
0 (26) (22)
(5)
229
242
254
254
257
219
2019 2020 2021 2022 2023 2024 2025
2020
▪
▪
Lagardère Live posted revenue up by 1.4% like for like (excluding the sale of Paris Match), amid contrasting
business trends: growth at Lagardère Live Entertainment, ELLE International, Europe 1 and the Press
segment was offset by a lacklustre advertising market and music radio stations
Rigorous cost discipline drove a sharp €17m improvement in recurring EBIT vs 2024, to near breakeven at
€(5)m
(1) Like for like
Ordinary General Meeting / 5 May 2026
CONTENTS
1
2025 key figures
2
Market position, achievements and strategy
LAGARDÈRE PUBLISHINGMarket position, achievements and strategy
Ordinary General Meeting / 5 May 2026
LAGARDÈRE PUBLISHING IN BRIEF
€3,001m
Revenue
€312m
Recurring EBIT
7,643
employees
Over 200 publishing imprints
154,000 titles in digital format
Over 15,000
new releases
No. 3 consumer publishing group worldwide
No.1 publishing group in France,
Education
10%
Other(1)
19%
Partworks
10%
No. 2 in the United Kingdom,
No. 3 in the United States and Spain
Joint No. 1 publisher of partworks worldwide
No. 2 in premium stationery worldwide and in board games in France
Illustrated Books 19%
Revenue by business
General Literature 42%
Spain and Latin America 7%
United Kingdom(3)
26%
Other
7%
Revenue by geographic area(2)
France
32%
Including Board Games
By destination
Including Ireland, India, Australia and New Zealand
United States and Canada 28%
Ordinary General Meeting / 5 May 2026
LAGARDÈRE PUBLISHING: 2025 ACHIEVEMENTS
Major publishing successes in France (Asterix in Lusitania, The Secret of Secrets by Dan Brown, Un avenir radieux by Pierre Lemaitre, Nicolas Sarkozy's Le journal d'un prisonnier, Adélaïde de Clermont-Tonnerre's Je voulais vivre, etc.) and internationally
(Onyx Storm by Rebecca Yarros, Quicksilver and Brimstone by Callie Hart, The Hallmarked Man by Robert Galbraith, Gone Before Goodbye by Reese Witherspoon and Harlan Coben, The Housemaid series by Freida McFadden, etc.)
More than 180 literary prizes for Lagardère Publishing worldwide, including some 80 in France
Momentum in the Partworks and Board Games segments (including Flip 7 published by
Catch Up Games)
Targeted acquisitions: Le Routard brand, Ducasse Édition, 999 Games
Ordinary General Meeting / 5 May 2026
LAGARDÈRE PUBLISHING: STRATEGY
Strengthening our leadership position in creativity and innovation to build the publishing group of tomorrow for our readers, our authors and our broader stakeholders
Proactively addressing the challenges and opportunities associated with artificial intelligence
Defining a strategy for literary adaptations in the film and audiovisual
industries
Ordinary General Meeting / 5 May 2026
THE AUDIOVISUAL MARKET EXCEEDS €450Bn AND IS GROWING RAPIDLY
Global trade publishing and audiovisual markets, €Bn Investments in content in 2025
120
2021 2026e
Audiovisual
+15%
400
140
460
Trade publishing
€20Bn €15Bn€12Bn
€4Bn
€4BnOrdinary General Meeting / 5 May 2026
BOOK ADAPTATIONS OUTPERFORM AT THE BOX-OFFICE
FILMS from books represent…
<10%
of the movies produced
<10%
Share of book adaptations of movies produced, %
Ordinary General Meeting / 5 May 2026
BOOK ADAPTATIONS OUTPERFORM AT THE BOX-OFFICE
FILMS from books represent…
<10%
of the movies produced
~30-40%of the global box-office
top 100 movies
<10%
30-40%
Share of book adaptations of movies produced, %
Share of book adaptations of the global box-office top 100, %
Ordinary General Meeting / 5 May 2026
BOOK ADAPTATIONS TURN INTO PRESTIGE FILM-MAKING
~5 of the 10
Best Picture Nominees at the 2026 Oscars are inspired by books
~40%of the 2026 César Nominations & Awards are based on books
Ordinary General Meeting / 5 May 2026
SERIES ADAPTED FROM BOOKS CONSISTENTLY TOP THE CHARTS
~6 out of the 10ALL TIME MOST-WATCHED SEASONS
of English shows on Netflix
Ordinary General Meeting / 5 May 2026
REVENUES FROM THE SALE OF AUDIOVISUAL RIGHTS REMAIN VERY LIMITED - EXAMPLE OF FRANCE
Size of the French book publishing market
€ 3 Bn
Ordinary General Meeting / 5 May 2026
REVENUES FROM THE SALE OF AUDIOVISUAL RIGHTS REMAIN VERY LIMITED - EXAMPLE OF FRANCE
Size of the French book publishing market Revenues from the sale of audiovisual rights
€ 3 Bn
~ € 10 M
Ordinary General Meeting / 5 May 2026
AND HACHETTE IS NO EXCEPTION
Share of Hachette's global net revenues from audiovisual rights sales, %
<1%
2019 2020 2021 2022 2023 2024
Ordinary General Meeting / 5 May 2026
BOOK PUBLISHERS CAPTURE VERY LITTLE OF THE VALUE CREATED ON SCREEN
BOOK
PUBLISHING
NEGOTIATION OF AUDIOVISUAL ADAPTATION RIGHTS
DEVELOPMENT (SCRIPT, CASTING, ETC.)
PRODUCTION DISTRIBUTION
Low value of rights sales
Rights tied up for 18 to 36 months
Low conversion rate into films and/or series
Low share of generated revenues flowing back to Hachette
Ordinary General Meeting / 5 May 2026
SUCCESSFUL BOOK ADAPTATIONS DRIVE SIGNIFICANT SPIKES IN BOOK SALES
Increase in book sales
During the 3 months following the release of audiovisual adaptations, compared to the 3 months before release, in units sold
+ 50 % x 85 x 530
Ordinary General Meeting / 5 May 2026
UNITING TWO WORLD LEADERS IN PUBLISHING
AND AUDIOVISUAL PRODUCTION