PERNOD RICARD - 2019 NOTICE OF MEETING

4.

THE GROUP IN 2018/19

Pernod Ricard has successfully started implementing its 3-year plan:

Innovation: +26% Luxury: +14% FY19 ACHIEVEMENTS

MEDIUM-TERM AMBITION

Better, Agile, Together:

Leverage unique premiumportfolio

WIN IN 4KEYMARKETS:

Develop USA Broaden leadership in China Broaden leadership in India Develop premium+ Travel Retail leadership

+ 4% ( Sell-out) 2 +21% +20% +6%

MSD 1 growth HSD to LDD 1 growth LDD 1 growth

STRATEGIC PILLARS

Roll-out of 2030 roadmap , building on previous 2020 plan

Leverage our Sustainability &Responsibility strategy

+ 6.0%

SALES

+4% to +7%

Promotional effectiveness Active pricemanagement

+2%

REVENUE GROWTH MANAGEMENT

FY16-20: €200m FY20-21 : €100m

100%complete - - 16.5%

OPERATIONAL EXCELLENCE

c. 16%

SUSTAINED A&P INVESTMENT

FINANCIAL KPIs

+4%

< Sales growth

STRUCTURE COST DISCIPLINE

c. 50-60bps

+74bps

OPERATING LEVERAGE

1 MSD: Mid-Single-Digit. 2 HSD: High-Single-Digit. 3 LDD: Low-Double-Digit . 4 Internal estimate of Spirits market growth +4.5%.

Presentation of results Group Net profit per share fromrecurring operations – diluted

30.06.2018 Restated 265,543,003

30.06.2019 265,419,549

€ million

Number of shares in circulation - diluted

Profit from recurring operations

2,358

2,581

Operatingmargin

27.0%

28.1% (314) (586)

Financial income/(expense) from recurring operations Corporate income tax on recurring operations

(301) (520)

Non-controlling interests, discontinued operations and share of net profit fromequity associates

(26)

(27)

GROUP NET PROFIT FROMRECURRINGOPERATIONS (1)

1,511 5.69

1,654

GROUP NET EARNINGS PER SHARE FROMRECURRINGOPERATIONS – DILUTED (In euros) 6.23 Profit from Recurring Operations adjusted for financial result from recurring operations, recurring income tax, share of net result of associates and profit from assets held for sale, as well as (1) non-controlling interests.

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PERNOD RICARD NOTICEOFMEETING

2019