2024 universal registration document

2.4.2.2 Remuneration paid in or allocated in respect of 2024 to Nicolas Hieronimus, Chief Executive Officer

2.4.2.2.1 Fixed remuneration

At its meeting of 8 February 2024, and on the recommendation of the Human Resources and Remuneration Committee, the Board of Directors decided to maintain Nicolas Hieronimus’s annual fixed remuneration at the gross amount of €2,000,000.

2.4.2.2.2 Annual variable remuneration

With regard to Nicolas Hieronimus’s annual variable remuneration for 2024, the target was set at an annual gross amount of €2,000,000, or 100% of his fixed remuneration, with a maximum of 120% of fixed remuneration in the event of outperformance, or a gross amount of €2,400,000. This sum represents the maximum amount of variable remuneration that may be paid to him.

At its meeting on 8 February 2024, the Board of Directors had set the variable remuneration criteria applicable for 2024 and the respective weighting of such criteria. Financial criteria represent 60% of the variable remuneration while non-financial criteria represent 40%⁽¹⁾. The financial criteria are directly correlated with the Company’s economic performance indicators: growth in net sales and market share as compared to its main competitors, in operating profit, earnings per share (EPS) and cash flow.

On 13 March 2025, the Board of Directors, on the basis of the recommendations of the Human Resources and Remuneration Committee, assessed the performance of Nicolas Hieronimus. The achievement rate was 102.4% of the objectives, i.e., an achievement rate of 94.6% for financial criteria and 114.2% for non‑financial and qualitative criteria.

It was thus decided that, in respect of annual variable remuneration for 2024, Nicolas Hieronimus would be awarded an amount of €2,048,500.

FINANCIAL TARGETS 2024 (60% OF TOTAL ANNUAL VARIABLE REMUNERATION)