MERGER ARBITRAGE 25 February 2016 Current Management Board Name Start Date of Term Expiration Date of Term Michel Guillemot 03-Dec-01 At the end of the AGM Chief Executive Officer called to approve the financial statements for the fiscal year ending 31 December 2020 Christian Guillemot 01-Dec-99 At the end of the AGM Executive Vice President called to approve the Administration financial statements for the fiscal year ending 31 December 2020 Claude Guillemot 01-Dec-99 At the end of the AGM Executive Vice President called to approve the Technologies financial statements for the fiscal year ending 31 December 2020 Yves Guillemot 01-Dec-99 At the end of the AGM Executive Vice President called to approve the Strategy & Development financial statements for the fiscal year ending 31 December 2020 Gerard Guillemot 01-Dec-99 At the end of the AGM Executive Vice President called to approve the Strategy & Development financial statements for the fiscal year ending 31 December 2020 Only 1 board member (Marie-Therese Guiny) is up for re-election in June this year. The Guillemot brothers were re-elected in June last year and are not up for re-election again until June 2020 while Odile Grandet will be up for re-election in June 2019. 8 | P a g e