PERNOD RICARD - 2018-2019 Universal registration document

Our purpose Message from the Chairman and CEO

To create the conditions for sustainable growth that respects our environment and our communities and is collectively profitable for all our stakeholders.

B uilding for the Long Term was the title of the bookwritten in 2005 by my uncle Patrick Ricard on the 30 th anniversary of our Group’s creation. A visionary declaration or a subject already relevant 15 years ago, I followed in his foot- steps by writing the following message to our em- ployees on 18 December 2018: “Our core purpose is

It ismy sincere belief that profit and purpose are not at odds – in fact they gohand-in-hand. Achieving its pur- pose is the best way for a company to create the most value – value that is more stable andmore robust, as it istotheadvantageofallstakeholders.Shareholderswho choose to take a long-term view are the primary, but nottheonly,beneficiariesoflastingvalue.Bydefinition, achieving purpose means taking a long-term view: it requirescreatingtheconditionsforhealthygrowthbuilt

to work together to create the conditions for sustain- able growth – growth that respects our environment and our communities and is collectively profitable for all our stakeholders: employees, shareholders, customers, consumers and citizens.” So how gratifying it was to see this ethos promoted in a recent statement signed by the heads of 200 of America’s largest firms including Amazon’s Jeff Bezos, Apple’s Tim Cook, J P Mo r g a n C h a s e ’ s Jamie Dimon, Boeing’s Dennis Muilenburg and General Motor’s Mary Bar- ra. In a mission statement published on 19 August, they all declared, “Each of

on sustainable fundamen- tals, the performance of which ismeasurednot solely by financial criteria, but also by social and environmental standards. The prevailing trend is no longer a strictly economic definition of cor- porateperformance,butone of sharing and passing on heritage. This may explain why companies where there has been, and remains, a sig- nificant family investment performbetter over the long term, as confirmed in The FamilyBusinessModelbythe CreditSuisseResearchInsti- tute. According to this study, over the last nine years, fam- ily-owned firms outper- formedthebenchmarkindex by 47%.

ALEXANDRE RICARD CHAIRMAN AND CHIEF EXECUTIVE OFFICER

ForPernodRicard, theseval- ues are not new, as evidenced by the creation of our OceanographicInstitutein1966.NeitherdidtheGroup suddenly define its purpose in response to the recent FrenchActionPlan for BusinessGrowthandTransfor- mation.Forus,thetermweusehasalwaysbeen‘vision’ and ours has long been summed up by three words – Créateurs de convivialité. Our entire strategy, business model and organisation are driven by this mission.

our stakeholders is essential. We commit to de- liver value to all of them, for the future success of our companies, our communities and our country.” A virtuous circle that reflects the words of BlackRock’s Larry Fink, another of the state- ment’s signatories: “Purpose is not the sole pur- suit of profits, but the animating force for achiev- ing them.”

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2018-2019

PERNOD RICARD UNIVERSAL REGISTRATIONDOCUMENT