Crossing thresholds

Under the terms of Article 11-II of our Company’s bylaws, in addition to complying with the legal obligation to inform the Company of the holding of certain fractions of the capital and voting rights attached thereto, any individual or legal entity – including any intermediary registered as a holder of securities of persons not domiciled in France – who, alone or in concert with other individuals or legal entities, comes to hold or ceases to hold, in any way whatsoever, a fraction equal to 1% of the voting rights or capital or a multiple of this fraction, is required to inform the Company, by registered letter with acknowledgement of receipt sent within 5 trading days of crossing one of these thresholds, of the total number of shares and voting rights it holds.

To determine these thresholds, shares assimilated to owned shares and the voting rights attached to them are taken into account in accordance with the provisions of Articles L.233-7 and L.233-9 of the French Commercial Code. In each declaration, the declarant must certify that the declaration includes all the shares held or owned within the meaning of the preceding paragraph. They must also specify: their identity and that of any individuals or legal entities acting in concert with them, the total number of shares or voting rights they hold directly or indirectly, alone or in concert, the date and origin of the threshold crossing, and where applicable, the information referred to in the third paragraph of I of Article L.233-7 of the French Commercial Code.

These disclosure requirements cease no longer apply to a single shareholder or a group of shareholders who hold more than 50% of voting rights.

If shares in excess of the fraction that should have been declared are not declared in accordance with these conditions, they are stripped of voting rights at shareholders’ meetings if, at a meeting, the failure to declare has been noted and if one or more shareholders together holding at least 5% of the capital or voting rights so request at the meeting. Under the same conditions, voting rights that have not been duly declared may not be exercised. The loss of voting rights applies to all shareholders’ meetings held up to two years after the date of regularization of the declaration.