PERNOD RICARD - 2019 NOTICE OF MEETING

Our purpose

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

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%.

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

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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PERNOD RICARD NOTICEOFMEETING

2019