Universal Registration Document 2024

/ Changes in aggregates

	2020	2021	2022	2023	2024
Performance of the Company	Performance of the Company 2020	Performance of the Company 2021	Performance of the Company 2022		Performance of the Company 2023
Company net revenue (in millions of euros)	Company net revenue (in millions of euros) 2020 9,712	Company net revenue (in millions of euros) 2021 10,487	Company net revenue (in millions of euros) 2022 12,572	Company net revenue (in millions of euros) 2023 13,099	Company net revenue (in millions of euros) 2024 13,965
(Change compared with the previous financial year)	(Change compared with the previous financial year) 2020 -0.90 %	(Change compared with the previous financial year) 2021 +7.98 %	(Change compared with the previous financial year) 2022 +19.88 %	(Change compared with the previous financial year) 2023 +4.19 %	(Change compared with the previous financial year) 2024 +6.61 %
Compensation of employees	Compensation of employees 2020	Compensation of employees 2021	Compensation of employees 2022		Compensation of employees 2023
Average compensation of employees (full-time equivalent basis, excluding executive corporate officers)	Average compensation of employees (full-time equivalent basis, excluding executive corporate officers) 2020 91,499	Average compensation of employees (full-time equivalent basis, excluding executive corporate officers) 2021 91,366	Average compensation of employees (full-time equivalent basis, excluding executive corporate officers) 2022 98,521	Average compensation of employees (full-time equivalent basis, excluding executive corporate officers) 2023 107,987	Average compensation of employees (full-time equivalent basis, excluding executive corporate officers) 2024 124,295
(Change compared with the previous financial year)	(Change compared with the previous financial year) 2020 +9.46 %	(Change compared with the previous financial year) 2021 -0.15 %	(Change compared with the previous financial year) 2022 +7.83 %	(Change compared with the previous financial year) 2023 +9.61 %	(Change compared with the previous financial year) 2024 +15.10 %
Median compensation of employees (full-time equivalent basis, excluding executive corporate officers)	Median compensation of employees (full-time equivalent basis, excluding executive corporate officers) 2020 74 732	Median compensation of employees (full-time equivalent basis, excluding executive corporate officers) 2021 71 339	Median compensation of employees (full-time equivalent basis, excluding executive corporate officers) 2022 76,259	Median compensation of employees (full-time equivalent basis, excluding executive corporate officers) 2023 84,861	Median compensation of employees (full-time equivalent basis, excluding executive corporate officers) 2024 96,899
(Change compared with the previous financial year)	(Change compared with the previous financial year) 2020 +14.96 %	(Change compared with the previous financial year) 2021 -4.54 %	(Change compared with the previous financial year) 2022 +6.90 %	(Change compared with the previous financial year) 2023 +11.28 %	(Change compared with the previous financial year) 2024 +14.19 %
Chairman of the Supervisory Board until May 29, 2024 then Chairman of the Board of Directors from May 29, 2024	Chairman of the Supervisory Board until May 29, 2024 then Chairman of the Board of Directors from May 29, 2024 2020	Chairman of the Supervisory Board until May 29, 2024 then Chairman of the Board of Directors from May 29, 2024 2021	Chairman of the Supervisory Board until May 29, 2024 then Chairman of the Board of Directors from May 29, 2024 2022		Chairman of the Supervisory Board until May 29, 2024 then Chairman of the Board of Directors from May 29, 2024 2023
Compensation of Mr. Maurice Lévy	Compensation of Mr. Maurice Lévy 2020 1,985,000	Compensation of Mr. Maurice Lévy 2021 1,425,000	Compensation of Mr. Maurice Lévy 2022 1,385,000	Compensation of Mr. Maurice Lévy 2023 1,418,000	Compensation of Mr. Maurice Lévy 2024 1,412,000
(Change compared with the previous financial year)	(Change compared with the previous financial year) 2020 -31.20 %	(Change compared with the previous financial year) 2021 -28.21 %	(Change compared with the previous financial year) 2022 -2.81 %	(Change compared with the previous financial year) 2023 +2.38 %	(Change compared with the previous financial year) 2024 -0.42 %
Ratio to average employee compensation	Ratio to average employee compensation 2020 22	Ratio to average employee compensation 2021 16	Ratio to average employee compensation 2022 14	Ratio to average employee compensation 2023 13	Ratio to average employee compensation 2024 11
(Change compared with the previous financial year)	(Change compared with the previous financial year) 2020 -37.14 %	(Change compared with the previous financial year) 2021 -28.11 %	(Change compared with the previous financial year) 2022 -9.87 %	(Change compared with the previous financial year) 2023 -6.62 %	(Change compared with the previous financial year) 2024 -13.46 %
Ratio to median employee compensation	Ratio to median employee compensation 2020 27	Ratio to median employee compensation 2021 20	Ratio to median employee compensation 2022 18	Ratio to median employee compensation 2023 17	Ratio to median employee compensation 2024 15
(Change compared with the previous financial year)	(Change compared with the previous financial year) 2020 -40.15 %	(Change compared with the previous financial year) 2021 -24.80 %	(Change compared with the previous financial year) 2022 -9.08 %	(Change compared with the previous financial year) 2023 -8.00 %	(Change compared with the previous financial year) 2024 -12.79 %
Chairman of the Management Board until May 29, 2024 then Chair and Chief Executive Officer as of this date⁽¹⁾	Chairman of the Management Board until May 29, 2024 then Chair and Chief Executive Officer as of this date⁽¹⁾ 2020	Chairman of the Management Board until May 29, 2024 then Chair and Chief Executive Officer as of this date⁽¹⁾ 2021	Chairman of the Management Board until May 29, 2024 then Chair and Chief Executive Officer as of this date⁽¹⁾ 2022		Chairman of the Management Board until May 29, 2024 then Chair and Chief Executive Officer as of this date⁽¹⁾ 2023
Compensation of Mr. Arthur Sadoun	Compensation of Mr. Arthur Sadoun 2020 2,888,009	Compensation of Mr. Arthur Sadoun 2021 3,638,009	Compensation of Mr. Arthur Sadoun 2022 3,070,000	Compensation of Mr. Arthur Sadoun 2023 3,673,800	Compensation of Mr. Arthur Sadoun 2024 10,599,743
(Change compared with the previous financial year)	(Change compared with the previous financial year) 2020 -4.94 %	(Change compared with the previous financial year) 2021 +25.97 %	(Change compared with the previous financial year) 2022 -15.61 %	(Change compared with the previous financial year) 2023 +19.67 %	(Change compared with the previous financial year) 2024 +188.52 %
Ratio to average employee compensation	Ratio to average employee compensation 2020 32	Ratio to average employee compensation 2021 40	Ratio to average employee compensation 2022 31	Ratio to average employee compensation 2023 34	Ratio to average employee compensation 2024 85
(Change compared with the previous financial year)	(Change compared with the previous financial year) 2020 -13.15 %	(Change compared with the previous financial year) 2021 +26.15 %	(Change compared with the previous financial year) 2022 -21.74 %	(Change compared with the previous financial year) 2023 +9.18 %	(Change compared with the previous financial year) 2024 +150.67 %
Ratio to median employee compensation	Ratio to median employee compensation 2020 39	Ratio to median employee compensation 2021 51	Ratio to median employee compensation 2022 40	Ratio to median employee compensation 2023 43	Ratio to median employee compensation 2024 109
(Change compared with the previous financial year)	(Change compared with the previous financial year) 2020 -17.31 %	(Change compared with the previous financial year) 2021 +31.96 %	(Change compared with the previous financial year) 2022 -21.06 %	(Change compared with the previous financial year) 2023 +7.54 %	(Change compared with the previous financial year) 2024 +152.68 %
Member of the Management Board until May 29, 2024 (Jean-Michel Etienne/Michel-Alain Proch/Loris Nold⁽¹⁾⁽²⁾)	Member of the Management Board until May 29, 2024 (Jean-Michel Etienne/Michel-Alain Proch/Loris Nold⁽¹⁾⁽²⁾) 2020	Member of the Management Board until May 29, 2024 (Jean-Michel Etienne/Michel-Alain Proch/Loris Nold⁽¹⁾⁽²⁾) 2021	Member of the Management Board until May 29, 2024 (Jean-Michel Etienne/Michel-Alain Proch/Loris Nold⁽¹⁾⁽²⁾) 2022		Member of the Management Board until May 29, 2024 (Jean-Michel Etienne/Michel-Alain Proch/Loris Nold⁽¹⁾⁽²⁾) 2023
Compensation	Compensation 2020 1,938,339	Compensation 2021 1,776,149	Compensation 2022 1,200,000	Compensation 2023 1,284,566	Compensation 2024 3,248,407
(Change compared with the previous financial year)	(Change compared with the previous financial year) 2020 +0.05 %	(Change compared with the previous financial year) 2021 -8.37 %	(Change compared with the previous financial year) 2022 -32.44 %	(Change compared with the previous financial year) 2023 +7.05 %	(Change compared with the previous financial year) 2024 +152.88 %
Ratio to average employee compensation	Ratio to average employee compensation 2020 21	Ratio to average employee compensation 2021 19	Ratio to average employee compensation 2022 12	Ratio to average employee compensation 2023 12	Ratio to average employee compensation 2024 26
(Change compared with the previous financial year)	(Change compared with the previous financial year) 2020 -8.59 %	(Change compared with the previous financial year) 2021 -8.23 %	(Change compared with the previous financial year) 2022 -37.34 %	(Change compared with the previous financial year) 2023 -2.37 %	(Change compared with the previous financial year) 2024 +119.77 %
Ratio to median employee compensation	Ratio to median employee compensation 2020 26	Ratio to median employee compensation 2021 25	Ratio to median employee compensation 2022 16	Ratio to median employee compensation 2023 15	Ratio to median employee compensation 2024 34
(Change compared with the previous financial year)	(Change compared with the previous financial year) 2020 -12.97 %	(Change compared with the previous financial year) 2021 -4.01 %	(Change compared with the previous financial year) 2022 -36.80 %	(Change compared with the previous financial year) 2023 -3.80 %	(Change compared with the previous financial year) 2024 +121.46 %
Member of the Management Board until May 29, 2024 (Anne-Gabrielle Heilbronner⁽¹⁾)	Member of the Management Board until May 29, 2024 (Anne-Gabrielle Heilbronner⁽¹⁾) 2020	Member of the Management Board until May 29, 2024 (Anne-Gabrielle Heilbronner⁽¹⁾) 2021	Member of the Management Board until May 29, 2024 (Anne-Gabrielle Heilbronner⁽¹⁾) 2022		Member of the Management Board until May 29, 2024 (Anne-Gabrielle Heilbronner⁽¹⁾) 2023
Compensation	Compensation 2020 1,245,027	Compensation 2021 1,425,027	Compensation 2022 1,212,857	Compensation 2023 1,135,430	Compensation 2024 3,671,402
(Change compared with the previous financial year)	(Change compared with the previous financial year) 2020 -4.60 %	(Change compared with the previous financial year) 2021 +14.46 %	(Change compared with the previous financial year) 2022 -14.89 %	(Change compared with the previous financial year) 2023 -6.38 %	(Change compared with the previous financial year) 2024 +223.35 %
Ratio to average employee compensation	Ratio to average employee compensation 2020 14	Ratio to average employee compensation 2021 16	Ratio to average employee compensation 2022 12	Ratio to average employee compensation 2023 11	Ratio to average employee compensation 2024 30
(Change compared with the previous financial year)	(Change compared with the previous financial year) 2020 -12.84 %	(Change compared with the previous financial year) 2021 +14.62 %	(Change compared with the previous financial year) 2022 -21.07 %	(Change compared with the previous financial year) 2023 -14.62 %	(Change compared with the previous financial year) 2024 +181.02 %
Ratio to median employee compensation	Ratio to median employee compensation 2020 17	Ratio to median employee compensation 2021 20	Ratio to median employee compensation 2022 16	Ratio to median employee compensation 2023 13	Ratio to median employee compensation 2024 38
(Change compared with the previous financial year)	(Change compared with the previous financial year) 2020 -17.02 %	(Change compared with the previous financial year) 2021 +19.90 %	(Change compared with the previous financial year) 2022 -20.38 %	(Change compared with the previous financial year) 2023 -15.87 %	(Change compared with the previous financial year) 2024 +183.18 %

The 2020 and 2021 compensation of the Chairman and members of the Management Board has been amended to include the portion of the gain on vesting(i.e. 1/3 per year of performance) achieved as part of the LTIP 2019-2021 whose delivery took place in 2022.
The term of office Mr. Jean-Michel Etienne as a member of the Management Board ended on December 31, 2020, that of Mr. Michel-Alain Proch ended on February 8, 2024 and that of Mr. Loris Nold on May 24, 2024. The compensation for 2021 therefore takes into account, on the one hand, the fixed compensation of Mr. Michel-Alain Proch paid in 2021 and, on the other hand, the variable compensation of Mr. Jean-Michel Etienne paid in 2021 (for 2020). The compensation for 2024 therefore takes into account, on the one hand, the fixed compensation of Mr. Loris Nold paid in 2024 and, on the other hand, the variable compensation of Mr. Michel-Alain Proch paid in 2024 (for 2023). The amount of the gain on vesting made under the LTIP 2019-2021 by Mr. Jean-Michel Etienne has been reintegrated into the CFO’s compensation for 2020 and 2021 prior to the application of pro rata temporis. The amount of the gain on vesting made as part of the LTIP 2021 by Mr. Loris Nold has been included in the CFO’s 2024 compensation.

Universal Registration Document 2024

Glossary

/ Changes in aggregates