Convening Brochure Combined Shareholders’ Meeting Tuesday, June 30 , 2020 | 10.30 A.M

Convening Brochure Combined Shareholders’ Meeting Tuesday, June 30 , 2020 | 10.30 a.m. (with no shareholders present)

The Shareholders’ Meeting will be transmitted live and given deferred coverage on the Company’s website: www.lvmh.com. CONTACT: CACEIS Corporate Trust Service Assemblées Générales Centralisées Email address: [email protected] Tel.: +33 (0)1 57 78 32 32 Monday to Friday, 8.30 a.m. to 5.30 p.m. (Paris time) Convening Brochure

CONTENTS

AGENDA 02

HOW TO PARTICIPATE IN THE SHAREHOLDERS’ MEETING 04

EXECUTIVE AND SUPERVISORY BODIES; STATUTORY AUDITORS 10

LVMH GROUP / KEY FIGURES 11

LVMH GROUP / SUMMARY 14

2019 BUSINESS REVIEW 15

BOARD OF DIRECTORS’ REPORT ON THE DRAFT RESOLUTIONS 18

RESOLUTIONS SUBMITTED FOR APPROVAL AT THE COMBINED SHAREHOLDERS’ MEETING OF JUNE 30 , 2020 26

REQUEST FOR DOCUMENTS AND INFORMATION 35

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 01 Convening Brochure AGENDA

ORDINARY RESOLUTIONS

First resolution: Approval of the parent company financial statements for the fiscal year ended December 31, 2019 Second resolution: Approval of the consolidated financial statements for the fiscal year ended December 31, 2019 Third resolution: Allocation of income – setting the dividend Fourth resolution: Approval of related party agreements Fifth resolution: Reappointment of Delphine Arnault as Director Sixth resolution: Reappointment of Antonio Belloni as Director Seventh resolution: Reappointment of Diego Della Valle as Director Eighth resolution: Reappointment of Marie-Josée Kravis as Director Ninth resolution: Reappointment of Marie-Laure Sauty de Chalon as Director Tenth resolution: Appointment of Natacha Valla as Director Eleventh resolution: Appointment of Lord Powell of Bayswater as Advisory Board member Twelfth resolution: Approval of the information referred to Article L. 225-37-3 I of the French Commercial Code Thirteenth resolution: Approval of the compensation paid during fiscal year 2019 and awarded in respect of that year to the Chairman and Chief Executive Officer, Bernard Arnault Fourteenth resolution: Approval of the compensation paid during fiscal year 2019 and awarded in respect of that year to the Group Managing Director, Antonio Belloni Fifteenth resolution: Approval of the compensation policy in respect of non-senior executive officers Sixteenth resolution: Approval of the compensation policy in respect of the Chairman and Chief Executive Officer Seventeenth resolution: Approval of the compensation policy in respect of the Group Managing Director Eighteenth resolution: Authorization and powers to be granted to the Board of Directors to trade in the Company’s shares

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 Convening Brochure 02 Agenda

EXTRAORDINARY RESOLUTIONS

Nineteenth resolution: Authorization and powers to be granted to the Board of Directors to reduce the share capital through the cancellation of shares acquired on the stock market Twentieth resolution: Authorization and powers to be granted to the Board of Directors to award bonus shares in issue or to be issued to employees and/or senior executive officers of the Company and related entities with the removal of preferential subscription rights Twenty-first resolution: Modification of Article 11 of the Bylaws to define the terms for the appointment of Directors representing the employees Twenty-second resolution: Modification of Article 13 of the Bylaws to change the method by which notice is served for meetings of the Board of Directors and to introduce the option for the Board of Directors to take decisions based on written consultation pursuant to the provisions set out in the regulations Twenty-third resolution: Modification of Article 14 of the Bylaws (Powers of the Board of Directors) Twenty-fourth resolution: Harmonization of the Bylaws with various provisions, legal and regulatory in particular, of the French Law of May 22, 2019 known as the Pacte Law (Articles 20, 21, 23 and 25)

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 03 Convening Brochure HOW TO PARTICIPATE IN THE S HAREHOLDERS’ M EETING

In the context of the Covid-19 epidemic and in accordance with the emergency measures adopted by the government to stem the spread of this epidemic, the Board of Directors decided at its meeting of April 15, 2020, in accordance with the provisions of government order No. 2020-321 of March 25, 2020 and Decree No. 2020-418 of April 10, 2020 (hereafter the “Decree”), to hold its Shareholders’ Meeting on Tuesday, June 30, 2020 at 10.30 a.m. behind closed doors at the Company’s registered office at 22 avenue Montaigne, 75008 Paris. Accordingly, no admission cards will be given out. We invite you therefore to vote by post or to give proxy to the Chairman of the Meeting or to a third party (spouse, civil partner, another shareholder of LVMH, any other individual or legal entity selected by you). Detailed instructions on how to participate can be found on pages 5 to 9 of this brochure. To enable you to participate in this Shareholders’ Meeting under the best possible conditions, the Shareholders’ Meeting will be transmitted live and given deferred coverage on the Company’s website: www.lvmh.com (under Investors/Events/2020 Annual General Meeting). In addition to your legal right to put questions in writing, you can submit questions by email to [email protected] between Monday, June 8 and midday (Paris time) on Monday, June 29. These questions must imperatively be accompanied by a certificate of shareholder account registration. These questions will be answered during the Shareholders’ Meeting based on a representative selection of the subjects addressed by the shareholders. Shareholders are advised to regularly check the definitive procedures for participation in the Shareholders’ Meeting on the Company’s website at www.lvmh.com.

All shareholders, regardless of the number of shares in the Company they own, have the right to attend the Shareholders’ Meeting, in accordance with the prevailing laws and regulations. They must provide evidence of their status two business days before the Meeting, i.e. by zero o’clock (P aris time) on Friday, June 26, 2020, by registering the shares in an account in their name or in the case of a non-resident shareholder, in the name of their registered intermediary: ● for holders of registered shares: in the Company’s register which is held by its agent, CACEIS Corporate Trust; ● for holders of bearer shares: in one or more s ecurities accounts held by a financial intermediary, where the latter shall provide evidence of registration by delivering a share ownership certificate.

Exceptionally, shareholders may select solely between one of the following three methods of participation:

V O T E B Y P O S T VOTE BY POST OR GIVE PROXY GIVE PROXY TO A THIRD PARTY (spouse, OR GIVE PROXY TO THE CHAIRMAN OF THE civil partner, another shareholder of TO THE CHAIRMAN OR MEETING BY POST USING THE OR LVMH , any other individual or legal entity OF THE MEETING SINGLE ATTENDANCE FORM selected by you) BY INTERNET (hereafter the “S ingle F orm”) BY INTERNET OR BY POST

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 Convening Brochure 04 How to participate in the Shareholders’ Meeting

1/ YOU WISH TO VOTE BY POST OR GIVE PROXY TO THE CHAIRMAN OF THE MEETING BY INTERNET

In accordance with the provisions of Article R. 225- 61 of the French Commercial Code and with the bylaws, shareholders may participate in this Shareholders’ Meeting using the electronic communication methods available on the VOTACCESS platform.

VOTACCESS PORTAL

The VOTACCESS platform will be open for the purposes of the Shareholders’ Meeting of Tuesday, June 30, 2020 as of 9 a.m. (Paris time) on Monday, June 8, 2020. You will no longer be able to vote by post or give proxy to the Chairman of the Meeting via internet before the Shareholders’ Meeting as from 3 p.m. (Paris time) on Monday, June 29, 2020. To avoid congestion on the VOTACCESS platform, we advise that you enter your instructions as soon as possible.

You may send your voting instructions or give proxy to the Chairman of the Meeting via internet before the Shareholders Meeting, using the VOTACCESS platform dedicated to the Shareholders’ Meeting, under the conditions set out below: ● IF YOU HOLD REGISTERED SHARES (pure or administer ed): you can access the VOTACCESS platform dedicated to the Shareholders’ Meeting via the OLIS Actionnaire website at www.nomi.olisnet.com .

● If you hold pure registered shares: you must connect to ● If you hold administered registered shares: you must the OLIS Actionnaire website using the login reminded connect to the OLIS Actionnaire website using the login in the Single Form (see point 5 of the sample) sent with shown on the Single Form (see point 5 of the sample) sent this convening brochure and the password you usually use with this convening brochure. to consult your account. Once you have logged in, follow the instructions on the screen to access the VOTACCESS platform.

If you have problems connecting, you can contact CACEIS Corporate Trust, Service Assemblées Générales Centralisées , by telephone on +33 (0)1 57 78 32 32 , Monday to Friday from 8.30 a.m. to 5.30 p.m. (Paris time) or by email at:[email protected] .

● IF YOU HOLD BEARER SHARES: you must find out if your securities account holder has joined the VOTACCESS platform and, where necessary, find out the conditions of use of that platform.

● If your securities account holder has joined the ● If your securities account holder has not joined the VOTACCESS platform: you must identify yourself on the VOTACCESS platform: you must follow the instructions securities account holder’s internet portal using your usual described in paragraph 2 below. login and password and follow the instructions on the screen to access the VOTACCESS platform. If you have voted or given proxy by internet, please do not, under any circumstances, return your Single Form.

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 05 Convening Brochure How to participate in the Shareholders’ Meeting

2/ YOU WISH TO VOTE BY POST OR GIVE PROXY TO THE CHAIRMAN OF THE MEETING BY POST

● If you wish to vote by post, you must tick box 1 and follow blank. The Chairman will then vote on your behalf in favor the instructions given on the Single Form on page 9 of this of the adoption of the draft resolutions presented or agreed convening brochure. by the Board of Directors and against the adoption of all other draft resolutions. ● If you wish to give proxy to the Chairman of the Meeting, you must tick box 2 (see sample) and leave the Single Form

Regardless of your choice, you must DATE and SIGN the Single Form (see point 4 of the sample) and RETURN it as instructed below:

IF YOU HOLD REGISTERED SHARES (pure or administered): You must send the completed Single Form directly to CACEIS Corporate Trust, Service Assemblées Générales Centralisées, using the prepaid envelope enclosed with this convening brochure.

IF YOU HOLD BEARER SHARES: You must either return the completed, signed and dated You can obtain the Single Form from the financial Single Form to your financial intermediary, who will send intermediary responsible for managing your securities or it along with the share ownership certificate issued by it to directly from CACEIS Corporate Trust. Requests to forward CACEIS Corporate Trust, Service Assemblées Générales the Single Form must reach CACEIS Corporate Trust, Service Centralisées, or send it directly along with your share Assemblées Générales Centralisées, no later than Wednesday, ownership certificate to CACEIS Corporate Trust, Service June 24, 2020. Assemblées Générales Centralisées, 14, rue Rouget de Lisle, The Single Form is also available on the Company’s website 92862 Issy-les- Moulineaux Cedex 9, France. at www.lvmh.com (under Investors/Individual shareholders/ Annual General Meetings). Votes by post and by proxy given to the Chairman of the Meeting will only be taken into account if the forms are duly completed and reach CACEIS Corporate Trust no later than three days before the Shareholders’ Meeting, i.e. by Friday, June 26, 2020 at the latest.

In all cases, do not, under any circumstances, send the Single Form directly to LVMH.

3/ YOU WISH TO GIVE PROXY OR CANCEL A PROXY GIVEN TO A THIRD PARTY BY INTERNET OR BY POST

In accordance with the provisions of the Decree, you may give Proxy requests where the name of the proxy has been proxy to your spouse, civil partner, another shareholder of provided and proxy cancellations must be received by LVMH or any other person or legal entity selected by you or CACEIS Corporate Trust no later than the fourth day cancel a proxy under the conditions set out below. before the Shareholders’ Meeting, i.e. by Friday, June 26, For all proxy votes where the name of the proxy has not been 2020, by post or electronic means (email or VOTACCESS) provided, the Chairman of the Shareholders’ Meeting will vote as described below. in favor of adopting the draft resolutions presented or agreed by the Board of Directors and against all other draft resolutions.

3.1. NAMING A PROXY OR CANCELLING A PROXY GIVEN TO A THIRD PARTY BY INTERNET OR BY POST

BY INTERNET ● IF YOU HOLD REGISTERED SHARES (pure or administered): you can access the VOTACCESS platform dedicated to the Shareholders’ Meeting via the OLIS Actionnaire website at www.nomi.olisnet.com .

Combined Shareholders’ Meeting - Tuesday, June 30, 2020 Convening Brochure 06 How to participate in the Shareholders’ Meeting

Once you have logged in, follow the instructions on the screen You can also name a proxy or cancel a previously to access the VOTACCESS platform and name or cancel a named proxy by email to the following address: proxy. [email protected]. This email must If you have problems connecting, you can contact CACEIS include an attached numbered copy of the Single Form Corporate Trust, Service Assemblées Générales Centralisées , indicating your surname, fist name, place of residence and full by telephone on +33 (0)1 57 78 32 32 , Monday to Friday bank details and the surname, first name and place of residence from 8.30 a.m. to 5.30 p.m. (Paris time) or by email at: of the designated or canceled proxy. [email protected].

● IF YOU HOLD BEARER SHARES: you must find out if your securities account holder has joined the VOTACCESS platform and, where necessary, find out the conditions of use of that platform.

● If your securities account holder has joined the of residence of the designated or canceled proxy, along VOTACCESS platform: you must identify yourself on the with the share ownership certificate delivered by your securities account holder’s internet portal using your usual financial intermediary. The financial intermediary login and password and follow the instructions on the responsible for the management of your securities screen to access the VOTACCESS platform and name or account must send written confirmation by post to cancel a proxy. CACEIS Corporate Trust, Service Assemblées Générales, 14, rue Rouget de Lisle, 92862 Issy- les- ● If your securities account holder has not joined the VOTACCESS platform: you can name or cancel Moulineaux Cedex 9, France or by email to: ct- a proxy by post, by following the instructions [email protected] , no later given below, or by email to the following address: than four days before the Shareholders’ [email protected] . This email Meeting, i.e. by F riday, June 26 , 2020. must include an attached numbered copy of the Single Requests to appoint and cancel a proxy may solely be sent to Form indicating your surname, fist name, place of residence the email address given above. Any other request or notification and full bank details and the surname, first name and place concerning other subjects will not be taken into account.

BY POST You must tick box 3 , enter the name of the proxy, DATE and SIGN the Single Form (see point 4 of the sample) and RETURN IT as indicated below:

IF YOU HOLD REGISTERED SHARES (pure or administered): You must send the Single Form directly to CACEIS Corporate Trust, Service Assemblées Générales Centralisées, using the prepaid envelope enclosed with this convening brochure.

IF YOU HOLD BEARER SHARES: You must either return the completed, signed and dated You can cancel a notified proxy by (i) indicating the name of Single Form to your financial intermediary, who will send the proxy being canceled and, where relevant, (ii) naming a new it along with the share ownership certificate issued by it to proxy by post indicating the name of the Company, the date CACEIS Corporate Trust, Service Assemblées Générales of the Shareholders’ Meeting, the surname, first name, place of Centralisées, or send it directly along with your share residence, registered share account number of the principal, or ownership certificate to CACEIS Corporate Trust, Service bank details of the principal in the case of bearer shares, as well Assemblées Générales Centralisées, 14, rue Rouget de Lisle, as the surname, first name and place of residence of the proxy: 92862 Issy-les- Moulineaux Cedex 9, France. The procedures ● either directly for holders of registered shares; and deadlines for obtaining the Single Form are set out in point 2 above. ● or through the financial intermediary and securities account holder for holders of bearer shares, with the understanding that in this case the financial intermediary must also send confirmation in writing to CACEIS Corporate Trust. In order to be taken into account, these instructions must reach CACEIS Corporate Trust, Service Assemblées Générales Centralisées, 14 rue Rouget de Lisle, 92862 Issy- les-M oulineaux Cedex 9, France no later than four days before the Shareholders’ Meeting, i.e. by Friday, June 26, 2020.

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 07 Convening Brochure How to participate in the Shareholders’ Meeting

3.2. TRANSMISSION OF VOTING INSTRUCTIONS BY YOUR PROXY

In accordance with Article 6 of the Decree, when a which must be emailed to CACEIS Corporate Trust at shareholder names a proxy to vote on their behalf, the [email protected], no later than proxy must indicate their instructions on the Single Form midnight (Paris time) on Friday, June 26, 2020.

4/ MISCELLANEOUS PROVISIONS

● For shareholders who have sold shares before zero o’ clock ● In cases where a Single Form is returned by a financial (Paris time) on Friday, June 26, 2020 and already intermediary, the Company reserves the right to ask the said transferred their voting instructions prior to the sale, these intermediary about the identity of the voter. shares shall be canceled or adjusted as appropriate by CACEIS ● In accordance with the provisions of Article L. 225-108 Corporate Trust in accordance with the number of shares of the French Commercial Code, shareholders have the sold. Sales or other transactions involving shares carried right to put questions in writing to the Company. These out after zero o’ clock (P aris time) on Friday, June 26, should be sent by registered letter with acknowledgment of 2020, regardless of the method used, will not be notified receipt to the head office, addressed to the Chairman of the by the financial intermediary and will not be taken into Board of Directors, at the latest by the fourth day before consideration by CACEIS Corporate Trust. the Shareholders’ Meeting, i.e. no later than Wednesday, ● Shareholders who have already voted by post or given proxy June 24, 2020. In order to be taken into account, these to the Chairman of the Meeting or to a third party may select questions must be accompanied by a certificate of another method of participating in the Shareholders’ Meeting shareholder account registration. Exceptionally, in addition on condition that their instructions reach the Company in to your legal right to put questions in writing, shareholders accordance with the procedures and deadlines set out in this can submit questions betw een Monday, June 8 and convening brochure. midday (Paris time) on Monday, June 29, by email to ● Shares acquired pursuant to one of the operations specified [email protected]. These questions must in section I of Article L. 225-126 of the French Commercial imperatively be accompanied by a certificate of shareholder Code, which have not been disclosed to the Company and account registration. the French financial market authority (Autorité des marchés financiers) at the latest by zero o’ clock (P aris time) on the second business day before the Shareholders’ Meeting, i.e. zero o’ clock (P aris time) on Friday, June 26, 2020, shall be deprived of voting rights for this Shareholders’ Meeting and for any subsequent shareholders’ meeting that may be held, until the resale or restitution of the said shares.

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 Convening Brochure 08 How to participate in the Shareholders’ Meeting

HOW TO COMPLETE YOUR SINGLE ATTENDANCE FORM?

This box does not apply since shareholders will not be physically attending the Shareholders’ Meeting.

You wish to vote by post or by proxy, tick the box corresponding to option 1, 2 or 3.

OLIS Shareholder identifier: xxxxxxxx 5 1 2 3

ENTER your surname, first name and address HERE, or verify them In all cases, ENTER if they are provided already. THE DATE AND YOUR SIGNATURE.

1 You are voting by post: for each resolution submitted for voting, You have given proxy to the Chairman. tick the box corresponding to your choice . Tick box 2 . For draft resolutions not approved by the Board of Directors, tick Enter the date and your signature at the bottom of form 4 . the box that corresponds to your choice . 4 Enter the date and your signature at the bottom of form . You wish to give proxy to a named person . Note that the decisions of the Meeting shall be taken based on Tick box 3 and enter the surname, first name and address a majority of valid votes. Valid votes do not include the votes of of the proxy. shareholders who have not participated in the voting or who have 4 abstained or cast a blank vote or failed to vote validly. Enter the date and your signature at the bottom of form .

5 The login you use to connect to OLIS Actionnaire for access to the VOTACCESS platform.

CACEIS Corporate Trust Return this form before Friday, June 26, 2020 to: Service Assemblées Générales Centralisées 14, rue Rouget de Lisle 92,862 ISSY-LES-MOULINEAUX Cedex 9, France

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 09 Convening Brochure EXECUTIVE AND SUPERVISORY BODIES; STATUTORY AUDITORS

Board of Directors Executive Committee Performance Audit Committee

Bernard Arnault Bernard Arnault Yves-Thibault de Silguy (1) Chairman and Chief Executive Officer Chairman and Chief Executive Officer Chairman Antonio Belloni Antonio Belloni Charles de Croisset (1) Group Managing Director Group Managing Director Clara Gaymard (1) (5) Antoine Arnault Delphine Arnault Louis Vuitton Nominations Delphine Arnault and Compensation Committee Nicolas Bazire Nicolas Bazire Development and Acquisitions Charles de Croisset (1) Sophie Chassat (1) Pietro Beccari Chairman Charles de Croisset (1) Christian Dior Couture Marie-Josée Kravis (1) Lead Director Michael Burke Yves-Thibault de Silguy (1) Diego Della Valle (1) Louis Vuitton Clara Gaymard (1) Chantal Gaemperle Ethics and Sustainable Human Resources and Synergies Iris Knobloch (1) Development Committee Jean-Jacques Guiony Marie-Josée Kravis (1) (1) Finance Yves-Thibault de Silguy Marie-Laure Sauty de Chalon (1) Chairman Christopher de Lapuente Yves-Thibault de Silguy (1) Sephora and beauty Delphine Arnault Marie-Laure Sauty de Chalon (1) (1) (2) Philippe Schaus Natacha Valla Hubert Védrine (1) Wines and Spirits Hubert Védrine (1) Sidney Toledano Statutory Auditors Advisory Board members Fashion Group Yann Arthus-Bertrand Jean-Baptiste Voisin ERNST & YOUNG Audit represented by Gilles Cohen Paolo Bulgari (3) Strategy and Patrick Vincent-Genod Lord Powell of Bayswater (4) General Secretary MAZARS represented by Isabelle Sapet Marc-Antoine Jamet and Loïc Wallaert

(1) Independent Director. (2) Appointment as a Director proposed at the Shareholders’ Meeting of June 30, 2020 . (3) Until the Shareholders’ Meeting of June 30, 2020 . (4) Appointment as an Advisory Board member proposed at the Shareholders’ Meeting of June 30, 2020 . (5) Appointment as a Committee member to replace Antoine Arnault effective June 30, 2020 .

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 Convening Brochure 10 LVMH GROUP / KEY FIGURES

KEY CONSOLIDATED DATA

(EUR millions) 2019 2018 (1) 2017 (1) Revenue 53,670 46,826 42,636 Profit from recurring operations 11,504 10,003 8,293 Net profit 7,782 6,990 5,840 Net profit, Group share 7,171 6,354 5,365 Cash from operations before changes in working capital 16,105 11,965 10,405 Operating investments 3,294 3,038 2,276 Free operating cash flow (a) 6,167 5,452 4,696 Total equity (b) 38,365 33,957 30,377 Net financial debt (c) (d) 6,206 5,487 7,153 Net financial debt/Equity ratio (d) 16.2% 16.2% 23.5% (a) See definition of free operating cash flow in the consolidated cash flow statement, in the consolidated financial statements. (b) Including minority interests. (c) Excluding Lease liabilities and Purchase commitments for minority interests included in “Other non-current liabilities”. (d) Excluding the acquisition of Belmond shares. See Note 18.1 of notes to the 2018 consolidated financial statements.

DATA PER SHARE

(EUR) 2019 2018 (1) 2017 (1) Earnings per share Basic Group share of earnings per share 14.25 12.64 10.68 Diluted Group share of earnings per share 14.23 12.61 10.64 Dividend per share Interim 2.20 2.00 1.60 Final 2 .60 4.00 3.40 Gross amount paid for fiscal year (a) 4 .80 (b) 6.00 5.00 (a) Gross amount paid for fiscal year, excluding the impact of tax regulations applicable to the recipient. (b) Proposal submitted by the Board of Directors meeting of April 15, 2020 to the Shareholders’ Meeting of June 30, 2020.

(1) The financial statements as of December 31, 2018 and 2017 have not been restated to reflect the application of IFRS 16 Leases. See Note 1.2 to the consolidated financial statements regarding the impact of the application of IFRS 16.

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 11 Convening Brochure LVMH group / Key figures

INFORMATIONS BY BUSINESS GROUP

Revenue by business group

(EUR millions) 2019 2018 2017 Wines and Spirits 5,576 5,143 5,084 Fashion and Leather Goods 22,237 18,455 15,472 Perfumes and Cosmetics 6,835 6,092 5,560 Watches and Jewelry 4,405 4,123 3,805 Selective Retailing 14,791 13,646 13,311 Other activities and eliminations (174) (633) (596) TOTAL 53,670 46,826 42,636

Profit from recurring operations by business group

(EUR millions) 2019 2018 (1) 2017 (1) Wines and Spirits 1,729 1,629 1,558 Fashion and Leather Goods 7,344 5,943 4,905 Perfumes and Cosmetics 683 676 600 Watches and Jewelry 736 703 512 Selective Retailing 1,395 1,382 1,075 Other activities and eliminations (383) (330) (357) TOTAL 11,504 10,003 8,293

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 Convening Brochure 12 LVMH group / Key figures

Revenue by geographic region of delivery Revenue by invoicing currency (in %) (in %)

Other markets (11%) France (9%) Euro (22%)

Europe Other currencies (excl. France) (37%) (19%)

Asia (excl. Japan) 2019 2019 (30%)

United States (24%) Hong Kong dollar (5%) US Dollar (29%) Japan (7%) Japanese yen (7%)

Other markets (11%) France (10%) Euro (22%) Other currencies Europe (36%) (excl. France) (19%)

Asia (excl. Japan) 2018 2018 (29%)

United States (24%) Hong Kong dollar (6%) US Dollar (29%) Japan (7%) Japanese yen (7%)

DIVIDEND PER SHARE (a) NUMBER OF STORES (in euros) (number)

4,915 4,592 4,374

6.00

5.00 4.80 (b)

2017 2018 2019 2017 2018 2019 (a) Gross amount paid for fiscal year, excluding the impact of tax regulations applicable to the recipient. (b) Proposal submitted by the Board of Directors meeting of April 15, 2020 to the Shareholders’ Meeting of June 30, 2020.

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 13 Convening Brochure LVMH GROUP / SUMMARY

CONSOLIDATED INCOME STATEMENT

(EUR millions, except for earnings per share) 2019 2018 (a) 2017 (a) Revenue 53,670 46,826 42,636 Cost of sales (18,123) (15,625) (14,783) Gross margin 35,547 31,201 27,853 Marketing and selling expenses (20,207) (17,755) (16,395) General and administrative expenses (3,864) (3,466) (3,162) Income/(loss) from joint ventures and associates 28 23 (3) Profit from recurring operations 11,504 10,003 8,293 Other operating income and expenses (231) (126) (180) Operating profit 11,273 9,877 8,113 Cost of net financial debt (107) (117) (137) Interest on lease liabilities (290) - - Other financial income and expenses (162) (271) 78 Net financial income/(expense) (559) (388) (59) Income taxes (2,932) (2,499) (2,214) Net profit before minority interests 7,782 6,990 5,840 Minority interests (611) (636) (475) Net profit, Group share 7,171 6,354 5,365 Basic Group share of net earnings per share (EUR) 14.25 12.64 10.68 Number of shares on which the calculation is based 503,218,851 502,825,461 502,412,694 Diluted Group share of net earnings per share (EUR) 14.23 12.61 10.64 Number of shares on which the calculation is based 503,839,542 503,918,140 504,010,291 (a) The financial statements as of December 31, 2018 and 2017 have not been restated to reflect the application of IFRS 16 Leases. See Note 1.2 to the consolidated financial statements regarding the impact of the application of IFRS 16.

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 Convening Brochure 14 2019 BUSINESS REVIEW

REVENUE BY BUSINESS GROUP CHANGE IN PROFIT FROM RECURRING OPERATIONS (EUR millions) (EUR millions) 2019 2018 2017 Wines and Spirits 5,576 5,143 5,084 Changes Exchange Fashion and Leather Goods 22,237 18,455 15,472 in the rate Organic scope of fluctuations (a) Perfumes and Cosmetics 6,835 6,092 5,560 growth consolidation (a) +266 11,504 Watches and Jewelry 4,405 4,123 3,805 +1,141 +94 Selective Retailing 14,791 13,646 13,311 10,003 Other activities and eliminations (174) (633) (596) TOTAL 53,670 46,826 42,636

PROFIT FROM RECURRING OPERATIONS BY BUSINESS 2018 2019 GROUP (a) The principles used to determine the impact of exchange rate fluctuations on the profit from recurring operations of entities reporting in foreign (EUR millions) 2019 2018 (a) 2017 (a) currencies and the impact of changes in the scope of consolidation are described on page 17. Wines and Spirits 1,729 1,629 1,558 Fashion and Leather Goods 7,344 5,943 4,905 Revenue for fiscal year 2019 was 53,670 million euros, up Perfumes and Cosmetics 683 676 600 15% over the previous fiscal year. The Group’s main invoicing Watches and Jewelry 736 703 512 currencies strengthened against the euro – in particular the US dollar, which rose 5% – boosting revenue growth. Selective Retailing 1,395 1,382 1,075 The main change to the Group’s consolidation scope since Other activities and eliminations (383) (330) (357) January 1, 2018 related to the full consolidation of Belmond TOTAL 11,504 10,003 8,293 hotel group within Other Activities as of April 2019. This (a) The financial statements as of December 31, 2018 and 2017 have not change in the scope of consolidation made a positive 1 point been restated to reflect the application of IFRS 16 Leases. See Note 1.2 to the consolidated financial statements regarding the impact of the contribution to revenue growth. application of IFRS 16. On a constant consolidation scope and currency basis, revenue increased by 10%. CHANGE IN REVENUE PER HALF-YEAR PERIOD (EUR millions and in percentage) Revenue by invoicing currency

25,082 (as %) 16% 2019 2018 2017 Euro 222223 28,588 53,670 12% 14% 15% US dollar 29 29 30 Japanese yen 7 7 7 9% 10% Hong Kong dollar 5 6 6

4% 2% 1% Other currencies 37 36 34 3% 3% TOTAL 100 100 100 1st half year 2nd half year Fiscal year 2019 The breakdown of revenue by invoicing currency changed very little with respect to the previous fiscal year: the contributions Organic growth Changes in the scope of consolidation(a) of the euro, the US dollar and the Japanese yen remained Exchange rate fluctuations(a) stable at 22%, 29% and 7%, respectively. The contribution of the Hong Kong dollar fell by 1 point to 5%, while that of “Other (a) The principles used to determine the net impact of exchange rate currencies” rose by 1 point to 37%. fluctuations on the revenue of entities reporting in foreign currencies and the net impact of changes in the scope of consolidation are described on page 17.

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 15 Convening Brochure 2019 Business review

Revenue by geographic region of delivery performance at Hublot and Chaumet. TAG Heuer continued its repositioning. Asia and Europe were the most buoyant regions. Revenue for Selective Retailing increased by 5% on a constant (as %) 2019 2018 2017 consolidation scope and currency basis, and by 8% based on France 9 10 10 published figures. This performance was driven by Sephora, whose revenue increased very substantially in every region Europe (excl. France) 19 19 19 around the world, and to a lesser extent by DFS, which dealt United States 24 24 25 with the slowdown in Hong Kong by drawing on momentum Japan 7 7 7 at other destinations. Asia (excl. Japan) 30 29 28 The Group achieved a gross margin of 35,547 million euros, Other markets 11 11 11 up 14% compared to the prior fiscal year. As a percentage of revenue, the gross margin was 66%, 0.4 points lower than in TOTAL 100 100 100 2018. By geographic region of delivery, the relative contribution of Marketing and selling expenses totaled 20,207 million Asia (excluding Japan) to Group revenue rose by 1 point to euros, up 14% based on published figures and up 10% on a 30%, while that of France fell by 1 point to 9%. The relative constant consolidation scope and currency basis. This increase contributions of the United States, Europe (excluding France), was mainly due to the development of retail networks but also Japan and other markets remained stable at 24%, 19%, 7% and to higher communications investments, especially in Perfumes 11%, respectively. and Cosmetics. The level of these expenses expressed as a By business group, the breakdown of Group revenue changed percentage of revenue remained stable at 38%. Among these more appreciably. The contribution of Fashion and Leather marketing and selling expenses, advertising and promotion Goods rose 2 points to 41%, while that of Selective Retailing costs amounted to 12% of revenue, increasing by 11% on a decreased by 2 points to 28%. The contributions of Watches constant consolidation scope and currency basis. and Jewelry and Wines and Spirits decreased by 1 point each The geographic breakdown of stores is as follows: to 8% and 10%, the contribution of Perfumes and Cosmetics remained stable at 13%. (number) 2019 2018 2017 Revenue for Wines and Spirits increased by 8% based on France 535 514 508 published figures. Boosted by a positive exchange rate impact Europe (excl. France) 1,177 1,153 1,156 of 2 points, revenue for this business group increased by 6% on a constant consolidation scope and currency basis. Champagne United States 829 783 754 and wines achieved growth of 6% based on published figures Japan 427 422 412 and 4% on a constant consolidation scope and currency basis, Asia (excl. Japan) 1,453 1,289 1,151 while cognac and spirits grew by 11% based on published figures and 7% on a constant consolidation scope and currency Other markets 494 431 393 basis. This performance was largely driven by higher prices as TOTAL 4,915 4,592 4,374 well as an increase in sales volumes. Demand remained very strong in the United States and in Asia, particularly China, General and administrative expenses totaled 3,864 million which maintained its status as the second-largest market for euros, up 11% based on published figures and up 8% on the Wines and Spirits business group. a constant consolidation scope and currency basis. They amounted to 7% of revenue, down 0.2 points relative to 2018. Fashion and Leather Goods posted organic growth of 17%, equating to 20% based on published figures. This business The Group’s profit from recurring operations was group’s performance was driven by the very solid momentum 11,504 million euros, up 15%. Restated for the positive achieved by Louis Vuitton and Christian Dior Couture, as well 155 million euro impact of the initial application of IFRS 16, this as by Loewe, Rimowa, Loro Piana and Fendi, which confirmed increase amounted to 13%. The Group’s operating margin as a their potential for strong growth. percentage of revenue was 21.4%, stable with respect to 2018. Revenue for Perfumes and Cosmetics increased by 9% on a Exchange rate fluctuations had a positive overall impact constant consolidation scope and currency basis, and by 12% of 266 million euros on profit from recurring operations based on published figures. This performance confirmed the compared to the previous fiscal year. This total comprises the effectiveness of the value-enhancing strategy resolutely pursued following three items: the impact of exchange rate fluctuations by the Group’s brands in the face of competitive pressures. on export and import sales and purchases by Group companies, The Perfumes and Cosmetics business group saw significant the change in the net impact of the Group’s policy of hedging revenue growth in Asia, particularly in China. its commercial exposure to various currencies, and the impact of exchange rate fluctuations on the consolidation of profit Revenue for Watches and Jewelry increased by 4% on a from recurring operations of subsidiaries outside the eurozone. constant consolidation scope and currency basis, and by 7% based on published figures. The business group was boosted Profit from recurring operations for Wines and Spirits was by continued strong momentum at Bvlgari, as well as solid 1,729 million euros, up 6% compared with 2018. Champagne and

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 Convening Brochure 16 2019 Business review

wines contributed 690 million euros, while cognacs and spirits of 126 million euros in 2018. As of December 31, 2019, “Other accounted for 1,039 million euros. This performance was the operating income and expenses” included 100 million euros result of both sales volume growth and a robust price increase in pledged donations for the reconstruction of Notre-Dame policy. The operating margin as a percentage of revenue for this cathedral, 57 million euros in restructuring costs, 45 million business group decreased by 0.7 points to 31.0%. euros in transaction costs relating to the acquisition of Fashion and Leather Goods posted profit from recurring consolidated companies, and 26 million euros in amortization, operations of 7,344 million euros, up 24% compared to the impairment and depreciation charges for brands, goodwill and previous fiscal year, and up 23% restated for the positive impact real estate assets. of the initial application of IFRS 16. Louis Vuitton maintained The Group’s operating profit was 11,273 million euros, up 14% its exceptional level of profitability while continuing its robust from December 31, 2018. investment policy, Christian Dior Couture achieved a record The net financial expense as of December 31, 2019 was performance, and Loewe, Loro Piana and Rimowa confirmed 559 million euros, compared with a net financial expense of their growth momentum. The other fashion brands continued 388 million euros as of December 31, 2018. This item comprised: to strengthen their positions. The business group’s operating margin as a percentage of revenue grew by 0.8 points to 33%. ● the aggregate cost of net financial debt, which totaled 107 million euros, versus a cost of 117 million euros as of Profit from recurring operations for Perfumes and Cosmetics December 31, 2019, representing a reduction of 11 million was 683 million euros, up 1% compared to 2018. This growth euros; was driven by Parfums Christian Dior, Guerlain and Parfums Givenchy, which posted improved results thanks to the ● interest on lease liabilities recognized as part of the initial success of their flagship product lines and strong innovative application of IFRS 16, which amounted to an expense of momentum. The business group’s operating margin as a 290 million euros; percentage of revenue fell by 1.1 points to 10.0%. ● other financial income and expenses, which amounted to a Profit from recurring operations for Watches and Jewelry was net expense of 162 million euros, compared to a net expense 736 million euros, up 5% relative to the previous fiscal year, and of 271 million euros in 2018. The expense related to the up 3% restated for the positive impact of the initial application cost of foreign exchange derivatives was 229 million euros, of IFRS 16. This increase was the result of strong performance versus an expense of 160 million euros a year earlier. Lastly, at Bvlgari and Hublot. The operating margin as a percentage other income from financial instruments, which mainly of revenue for the Watches and Jewelry business group fell by arose from the change in the market value of available for 0.4 points to 16.7%. sale financial assets, amounted to net income of 82 million euros, compared to a net expense of 108 million euros as of Profit from recurring operations for Selective Retailing was December 31, 2018. 1,395 million euros, up 1% compared to 2018, and down 6% restated for the positive impact of the initial application of The Group’s effective tax rate was 27.4%, up 1 point relative IFRS 16. This performance was driven by Sephora, which to 2018. achieved strong results. The business group’s operating margin Profit attributable to minority interests was 611 million euros, as a percentage of revenue fell by 0.7 points to 9.4%. compared to 636 million euros in 2018; this total mainly The loss from recurring operations of “Other activities includes profit attributable to minority interests in Moët and eliminations” increased with respect to 2018, totaling Hennessy and DFS. 351 million euros. In addition to headquarters expenses, this The Group’s share of net profit was 7,171 million euros, heading includes the results of the hotel and media divisions, compared with 6,354 million euros in 2018. This represented Royal Van Lent yachts, and the Group’s real estate activities. 13.4% of revenue as of December 31, 2019, compared to 13.6% “Other operating income and expenses” amounted to a net in 2018. The Group’s share of net profit for fiscal year 2019 was expense of 231 million euros, compared with a net expense up 13% compared to 2018.

Comments on the determination of the impact of exchange rate fluctuations and changes in the scope of consolidation The impact of exchange rate fluctuations is determined by translating the financial statements for the fiscal year of entities with a functional currency other than the euro at the prior fiscal year’s exchange rates, without any other restatements. The impact of changes in the scope of consolidation is determined as follows: ● for the fiscal year’s acquisitions, by deducting from revenue for the fiscal year the amount of revenue generated during that fiscal year by the acquired entities, as of their initial consolidation; ● for the prior fiscal year’s acquisitions, by deducting from revenue for the fiscal year the amount of revenue generated over the months during which the acquired entities were not consolidated in the prior fiscal year; ● for the fiscal year’s disposals, by adding to revenue for the fiscal year the amount of revenue generated by the divested entities in the prior fiscal year over the months during which those entities were no longer consolidated in the current fiscal year; ● for the prior fiscal year’s disposals, by adding to revenue for the fiscal year the amount of revenue generated in the prior fiscal year by the divested entities. Profit from recurring operations is restated in accordance with the same principles.

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 17 Convening Brochure BOARD OF DIRECTORS’ REPORT ON THE DRAFT RESOLUTIONS

1/ APPROVAL OF THE ANNUAL FINANCIAL STATEMENTS AND RELATED PARTY AGREEMENTS

The first few items on the agenda concern: meeting of January 28, 2020. Consequently, a dividend of ● approval of the financial statements: you are asked to approve 4.80 euros per share will be distributed. Since an interim the financial statements of the parent company, LVMH, dividend of 2.20 euros per share was paid on December 10, (first resolution) and the consolidated financial statements 2019, the remaining amount of 2.60 euros per share will be of the Group (second resolution); paid on July 9, 2020 ; ● ● allocation of income (third resolution): at its meeting of approval of related party agreements (fourth resolution): April 15, 2020, the Board of Directors decided to change the details of the related party agreements are given in the total dividend amount proposed by the Board of Directors’ Statutory Auditor’s special report.

2/ COMPOSITION OF THE BOARD OF DIRECTORS – ADVISORY BOARD MEMBERS

2.1. BOARD OF DIRECTORS Reappointment of Directors proposed Based on the recommendations of the Nominations and at the Shareholders’ Meeting Compensation Committee, you are asked to reappoint ● Delphine Arnault Delphine Arnault, Marie-Josée Kravis, Marie-Laure Sauty de French, aged 44 Chalon, Antonio Belloni and Diego Della Valle as Directors (fifth to ninth resolutions) for a three-year period until the Delphine Arnault began her career at international strategy end of the Ordinary Shareholders’ Meeting convened in 2023 consultancy firm McKinsey, where she worked as a consultant to approve the financial statements of the previous fiscal year, for two years. In 2000, she worked on the development of the and to appoint Natacha Valla as Director for a three-year period John Galliano company, acquiring concrete experience in the until the end of the Ordinary Shareholders’ Meeting convened fashion industry. In 2001, she joined the Executive Committee in 2023 to approve the financial statements of the previous of Christian Dior Couture, where she served as Deputy fiscal year (tenth resolution). Managing Director until August 2013. Since September 2013, she has been Executive Vice-President of Louis Vuitton, in More detailed information on the appointment of Directors charge of supervising all of Louis Vuitton’s product-related and the renewal of terms of office can be found in points 1.4.1.2 activities. Delphine Arnault has been a member of the Executive and 1.4.1.3 of the Board of Directors’ report on corporate Committee of the LVMH group since January 2019. governance (see 2019 Universal Registration Document). De lphine Arnault contributes in-depth knowledge of the luxury A biography of the directors and the reasons why the Board goods industry, particularly in fashion and leather goods, which of Directors proposed their renewal or appointment are given is particularly useful in defining the Group’s strategy. below.

● Antonio Belloni Italian, aged 65 Antonio Belloni joined the LVMH group in June 2001, following 22 years with Procter & Gamble, where he began his career in Italy in 1978. After a period as the Chairman and CEO of Procter & Gamble’s Italian operations, he was named Chairman of the firm’s European division in 1999. He subsequently held a number of positions in Switzerland, Greece, Belgium and the United States. He has been Group Managing Director of LVMH since September 2001. Mr Belloni contributes in-depth knowledge of each sector in which the LVMH group operates, as well as his vast experience in the operational leadership of a major international group.

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 Convening Brochure 18 Board of Directors’ report on the draft resolutions

● Diego Della Valle Appointment of a new Dir ector proposed Italian, aged 66 at the Shareholders’ Meeting Diego Della Valle joined the family company in 1975. He played ● Natacha Valla a fundamental role in defining the company’s development French, aged 44 strategy and creating the brands that have shaped its image. Natacha Valla is an economist and teaches at the University He developed what has now become a globally recognized of New York. She began her career at the European Central innovative marketing plan that has inspired many luxury Bank (2001-2005), before moving to the Banque de France product companies. Since October 2000, he has been Chairman (2005-2008) and then Goldman Sachs as Executive Director and Director Delegate of Tod’s SpA, which today is a world (2008-2013). She was subsequently named Deputy Director of leader in the luxury accessories sector. CEPII (2014-2016), a leading French think-tank in international Diego Della Valle contributes in-depth knowledge of the luxury economics within the Prime Minister’s services, before joining leather goods sector and vast experience as an entrepreneur in the European Investment Bank (2016-2018) as Head of Policy the Italian Peninsula. and Strategy Division, and then the European Central Bank as Deputy Director General for Monetary Policy (2018-2020). She has been a member of the French Commission Économique ● Marie-Josée Kravis de la Nation, the scientific committee of the Prudential American, aged 70 Supervision and Resolution Authority (ACPR) and the Conseil d’Analyse Économique, a French government economic Marie-Josée Kravis is an economist specializing in the fields analysis committee. of public policy and strategic planning. She started her career as a financial analyst with the Power Corporation of Canada Natacha Valla contributes expertise in international finance and and went on to work with the General Solicitor of Canada and monetary policy, which is particularly useful for a group with the Canadian Minister for Supply and Services. She is Vice- worldwide reach. Chairman of the Board of Directors and a senior researcher of the Hudson Institute. In 2005 she was named President of the 2.2. ADVISORY BOARD MEMBER Museum of Modern Art (MoMa) in New York, of which she has Based on the recommendations of the Nominations and been President Emerita since 2019. Compensation Committee, you are asked to appoint as Marie-Josée Kravis contributes her analysis skills and insight Advisory Board member Lord Powell of Bayswater, who wishes into the international economic climate, particularly in North to resign from his role as Director starting from the end of America. this Shareholders’ Meeting, for a period of three years until the end of the Ordinary Shareholders’ Meeting convened in ● Marie-Laure Sauty de Chalon 2023 to approve the financial statements for the previous year French, aged 57 (eleventh resolution). After establishing her career at a number of press and television Paolo Bulgari, whose term of office as Advisory Board member advertising companies, Marie-Laure Sauty de Chalon became expires at the end of this Shareholders’ Meeting, does not wish Chairman and Chief Executive Officer of Consodata North to be re-appointed. America in 2001. She subsequently took over as head of the Detailed information on the appointment of the Advisory Aegis Media Group in France and Southern Europe in 2004, Board member can be found in point 1.10.2.3 of the Board of and then from 2010 to 2018 was Chairman and Chief Executive Directors’ report on corporate governance (see 2019 Universal Officer of Aufeminin. She founded Factor K, in which the Registration Document). NRJ Group acquired a minority interest in July 2018, and is a professor at the Institut d’Études Politiques de Paris. You will find below the biography as well as the motivation that led your Board of Directors to propose this appointment. Marie-Laure Sauty de Chalon contributes her experience and vision in the digital domain and in environmental and societal Appointment of an Advisory Board member proposed issues. at the Shareholders’ Meeting ● Lord Powell of Bayswater British, aged 78 Lord Powell was Private Secretary and Advisor on Foreign Affairs and Defense to Prime Ministers Margaret Thatcher and John Major from 1983 to 1991. He is an independent member of the House of Lords in the Parliament of the United Kingdom. As Advisory Board member, Lord Powell of Bayswater will continue to advise the Board on international economic relations.

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 19 Convening Brochure Board of Directors’ report on the draft resolutions

3/ COMPENSATION OF EXECUTIVE OFFICERS

3.1. INFORMATION REFERRED TO ARTICLE L. 225-37-3 I OF THE FRENCH COMMERCIAL CODE Pursuant to Article L. 225-100 II of the French Commercial Document) (twelfth resolution), with the understanding that Code, you are asked to approve the information referred the aforementioned elements concerning the Chairman and to Article L. 225-37-3 I of the French Commercial Code as Chief Executive Officer and the Group Managing Director shall presented in point 2.2 of the Board of Directors’ report be subject to specific resolutions (twelfth resolution). on corporate governance (see 2019 Universal Registration

3.2. COMPENSATION PAID TO SENIOR EXECUTIVE OFFICERS IN FISCAL YEAR 2019 OR AWARDED IN RESPECT OF FISCAL YEAR 2019 In accordance with Article L. 225-100 of the French Commercial December 31, 2019 or awarded for that year to Bernard Arnault Code, you are asked to approve the information referred to and Antonio Belloni, as they are presented in point 2.2 of the Article L. 225-37-3 I of said Code as well as the fixed, variable Board of Directors’ report on corporate governance (see 2019 and exceptional components of the total compensation Universal Registration Document) (thirteenth and fourteenth and benefits in kind payable during the fiscal year ending resolutions).

Summary of compensation paid to each senior executive officer Bernard Arnault (a)

Amounts awarded Amounts Gross in respect paid during compensation of the 2019 the 2019 (EUR) fiscal year fiscal year Description Fixed Compensation payable to the Chairman and Chief Executive Officer includes a fixed 1,138,307 1,138,307 compensation component, which it has been decided to keep stable. Compensation paid to the Chairman and Chief Executive Officer includes an annual variable component based on meeting quantitative and qualitative objectives, respectively weighted at 60% and 40% for the determination of variable compensation. The quantifiable criteria are financial in nature and relate to growth in the Group’s revenue, operating profit and cash flow relative to budget, with each of these three components accounting for one-third of the total determination. Specific qualitative criteria – which can be strategic, managerial, organizational or operational Variable 2,200,000 2,200,000 in nature, and related to corporate social responsibility and sustainable development compensation in particular – have been set but are not made public for reasons of confidentiality. The method used for assessing performance has been reviewed by the Nominations & Compensation Committee. The variable component represents just under twice the fixed component, putting it below the 250% limit laid down in the compensation policy in force. Payment to the Chairman and Chief Executive Officer of the annual variable component of his compensation is subject to prior approval of the amount at an Ordinary Shareholders’ Meeting. Multi-year variable -- compensation Exceptional -- compensation October 24, 2019 plan: Number of performance shares allocated: 12,674. Performance shares were only to vest if LVMH’s consolidated financial statements Bonus for fiscal years 2020 and 2021 showed a positive change compared to fiscal year performance 4,482,540 2019 in relation to one or more of the following indicators: the Group’s profit from shares recurring operations, net cash from operating activities and operating investments, and current operating margin. Compensation for serving as a Director 90,000 90,000 (formerly known as directors’ fees) Benefits in kind 41,694 41,694 Company car. (a) Gross compensation and benefits in kind paid or borne by the Company and companies controlled by it.

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 Convening Brochure 20 Board of Directors’ report on the draft resolutions

Summary of compensation paid to each senior executive officer - Bernard Arnault (a) (cont.)

Amounts awarded Amounts Gross in respect paid during compensation of the 2019 the 2019 (EUR) fiscal year fiscal year Description Severance pay - - Non-compete -- payment The members of the Group’s Executive Committee who are employees or senior executive officers of French subsidiaries, and who have been members of the Committee for at least six years, are entitled to a supplementary pension provided that they liquidate any pensions acquired under external pension plans immediately upon terminating their duties in the Group; this is not required, however, if they leave the Group at its request after the age of 55 and resume no other professional activity until their external pension plans are liquidated. This supplementary pension benefit is determined on the basis of a reference amount of compensation equal to the average of the three highest amounts of annual compensation received during the course of their career with the Group, capped at 35 times the annual social security ceiling (i.e. 1,418,340 euros as of December 31, 2019). The annual supplementary pension benefit is equal to the difference between Supplementary 60% of the aforementioned reference compensation amount, which is capped where pension plan applicable, and all pension payments made in France (under the general social security plan and the supplementary ARRCO and AGIRC plans) and abroad. As of December 31, 2019, the total amount of pensions and the supplementary pension may not exceed 851,004 euros per year. As a result of the aforementioned system, on the basis of compensation paid to Bernard Arnault in 2019, the supplementary pension payable to him would not exceed 45% of the amount of his last annual compensation, in accordance with the recommendations set out in the AFEP/MEDEF Code. The supplementary pension only vests when retirement benefits are claimed. Given the characteristics of the plan put in place by the Company and his personal circumstances, the supplementary pension for which Bernard Arnault may qualify no longer gives rise to the annual vesting of additional benefits, or, consequently, to a correlative increase in the Company’s financial commitment. (a) Gross compensation and benefits in kind paid or borne by the Company and companies controlled by it.

Antonio Belloni (a)

Amounts awarded Amounts Gross in respect paid during compensation of the 2019 the 2019 (EUR) fiscal year fiscal year Description Fixed Compensation payable to the Group Managing Director includes a fixed component, 3,242,438 3,242,438 compensation (b) which it has been decided to keep stable. Compensation paid to the Group Managing Director includes a variable annual component based on the achievement of quantifiable targets (weighted two-thirds) and qualitative targets (weighted one-third). The quantifiable criteria are financial in nature and relate to growth in the Group’s revenue, operating profit and cash flow relative to budget, with each of these three components accounting for one- third of the total determination. Specific qualitative criteria – which can be strategic, managerial, organizational or operational in nature, and related to corporate social Variable 2,315,250 2,315,250 responsibility and sustainable development in particular – have been set but are compensation not made public for reasons of confidentiality. The method used for assessing performance has been reviewed by the Nominations & Compensation Committee. The amount awarded for variable compensation must be less than 75% of the amount of fixed compensation and is therefore lower than half the upper limit set by the compensation policy in force. Payment to the Group Managing Director of the annual variable component of his compensation is subject to prior approval of the amount at an Ordinary Shareholders’ Meeting. Multi-year variable -- compensation Exceptional -- compensation (a) Gross compensation and benefits in kind paid or borne by the Company and companies controlled by it. (b) Including housing allowance.

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 21 Convening Brochure Board of Directors’ report on the draft resolutions

Summary of compensation paid to each senior executive officer - Antonio Belloni (a) (cont.)

Amounts awarded Amounts Gross in respect paid during compensation of the 2019 the 2019 (EUR) fiscal year fiscal year Description October 24, 2019 plan: Number of performance shares allocated: 5,716. Performance Bonus shares were only to vest if LVMH’s consolidated financial statements for fiscal years 2020 performance 2,021,635 and 2021 showed a positive change compared to fiscal year 2019 in relation to one or shares more of the following indicators: the Group’s profit from recurring operations, net cash from operating activities and operating investments, and current operating margin. Compensation for serving as a Director 87,245 87,245 (formerly known as directors’ fees) Benefits in kind 5,543 5,543 Company car. Severance pay - - Employment contract suspended for the duration of his term as Group Managing Director; non-compete clause, for a period of 12 months, included in the employment Non-compete contract providing for the monthly payment during its application of compensation payment equal to his monthly compensation as of the date his term of office ends, plus one- twelfth of the last bonus received. The members of the Group’s Executive Committee who are employees or senior executive officers of French subsidiaries, and who have been members of the Committee for at least six years, are entitled to a supplementary pension provided that they liquidate any pensions acquired under external pension plans immediately upon terminating their duties in the Group; this is not required, however, if they leave the Group at its request after the age of 55 and resume no other professional activity until their external pension plans are liquidated. This supplementary pension benefit is determined on the basis of a reference amount of compensation equal to the average of the three highest amounts of annual compensation received during the course of their career with the Group, capped at 35 times the annual social security ceiling (i.e. 1,418,340 euros as of December 31, 2019). The annual supplementary pension benefit is equal to the difference between 60% of the Supplementary aforementioned reference compensation amount, which is capped where applicable, pension plan and all pension payments made in France (under the general social security plan and the supplementary ARRCO and AGIRC plans) and abroad. As of December 31, 2019, the total amount of pensions and the supplementary pension may not exceed 851,004 euros per year. As a result of the aforementioned system, on the basis of compensation paid to Antonio Belloni in 2019, the supplementary pension payable to him would not exceed 45% of the amount of his last annual compensation, in accordance with the recommendations set out in the AFEP/MEDEF Code. The supplementary pension only vests when retirement benefits are claimed. Given the characteristics of the plan put in place by the Company and his personal circumstances, the supplementary pension for which Antonio Belloni may qualify no longer gives rise to the annual vesting of additional benefits, or, consequently, to a correlative increase in the Company’s financial commitment. (a) Gross compensation and benefits in kind paid or borne by the Company and companies controlled by it. (b) Including housing allowance.

3.3. COMPENSATION POLICY The compensation policy approved by the Board of Directors at its meeting on January 28, 2020, on the recommendation Pursuant to Article L. 225-37-2 II of the French Commercial made by the Nominations and Compensation Committee on Code, you are asked to approve the compensation policy the same date, is set out in point 2.1 of the Board of Directors’ applicable to executive officers (Directors and Advisory Board report on corporate governance (see 2019 Universal Registration members) (fifteenth resolution) and the compensation Document). No compensation amount of any type may be policy applicable to senior executive officers (sixteenth and determined, awarded or paid if it does not comply with the seventeenth resolutions). approved compensation policy or, where the latter does not exist, with the remuneration policies or practices referred to Article L. 225-37-2 II of the French Commercial Code.

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 Convening Brochure 22 Board of Directors’ report on the draft resolutions

4/ AUTHORIZATIONS PROPOSED AT THE SHAREHOLDERS’ MEETING OF JUNE 30 , 2020

4.1. SHARE REPURCHASE PROGRAM (ARTICLES L. 225-209 ET SEQ. OF THE FRENCH COMMERCIAL CODE)

Type Resolution Maturity / Duration Amount authorized Share repurchase program AGM of June 30 , 2020 December 29 , 2021 10% of the share capital (a) Maximum purchase price: 550 euros (eighteenth resolution) (18 months) Reduction of capital through the retirement of shares AGM of June 30 , 2020 December 29 , 2021 10% of the share capital for purchased under the share repurchase program (nineteenth resolution) (18 months) each 24-month period (a) (a) As a guide, this equates to 50,502,734 shares on the basis of the share capital under the Bylaws as of December 31, 2019. You are asked to authorize the Board of Directors to purchase above the higher of the following two values: (i) the last quoted shares in the Company, for a period of 18 months starting share price after the execution of a transaction in which the from this Shareholders’ Meeting (eighteenth resolution). Company is not a stakeholder and (ii) the highest independent Such share purchases may be made for any purpose that is purchase bid in progress on the trading platform on which such compatible with the laws and regulations in force, in particular a purchase would be made. (i) to provide market liquidity, (ii) to cover stock option plans, This authorization invalidates the authorization granted by awards of bonus shares or any other share-based payment the Shareholders’ Meeting of April 18, 2019 in its sixteenth plans for employees, (iii) to cover securities giving access to resolution. the Company’s shares, (iv) to be retired, (v) be held and later presented for consideration as an exchange or payment in You are also asked to authorize the Board of Directors, for a connection with external growth operations (see point 1.13 of period of 18 months starting from this Shareholders’ Meeting, the 2019 Universal Registration Document and point 6.2 of the to reduce the Company’s share capital by canceling all or some Board of Directors’ Management Report – La Société LVMH of the shares that have been or may be repurchased by the Moët Hennessy - Louis Vuitton, on transactions carried out in Company, up to a limit of 10% of the share capital for each the context of the previous program). The Board of Directors 24-month period (nineteenth resolution). The authorization may not allow the use of this authorization without prior to reduce the share capital through the retirement of shares authorization from the Shareholders’ Meeting, in the event acquired under the share repurchase program may be used, in that a third party has made a public offer on the shares of the particular, to offset the dilution resulting from the exercise of Company, until the end of that offer period. stock options. This authorization invalidates the authorization granted by the Shareholders’ Meeting of April 18, 2019 in its The maximum price at which the Company may repurchase its seventeenth resolution. own shares is set at 550 euros per share, with the understanding that the Company may not purchase such shares at a price

4.2. EMPLOYEE SHAREHOLDER STRUCTURE (ARTICLE L. 225-197-1 OF THE FRENCH COMMERCIAL CODE)

Issue price determination Type Authorization date Maturity / Duration Amount authorized method Bonus share award AGM, June 30 , 2020 August 29 , 2022 1% of the share Not applicable (L. 225-197-1 et seq.) (twentieth resolution) (26 months) capital (a)(b) (a) Up to the overall maximum of 50 million euros proposed at the Shareholders’ Meeting of April 18, 2019 (twenty-eighth resolution) against which this amount would be offset. (b) As a guide, this equates to 5,050,273 shares on the basis of the share capital under the Bylaws as of December 31, 2019. You are asked to authorize the Board of Directors to award April 12, 2018 in its fifteenth resolution. In the scenario of an bonus shares in issue or to be issued to the employees and/or award of bonus shares to be issued, the maximum amount of senior executive officers of the Company and related entities the resulting capital increase will be offset against the overall up to a limit of 1% of the share capital (twentieth resolution). cap of 50 million euros referred to in the twenty-eighth This authorization shall apply for a period of 26 months starting resolution adopted by the Shareholders’ Meeting of April 18, from the Shareholders’ Meeting of June 30, 2020 and shall 2019, or, where relevant, against any cap set out in a subsequent invalidate, from the same date, the remaining unused portion resolution of the same type throughout the duration of validity of the authorization granted by the Shareholders’ Meeting of of this authorization.

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 23 Convening Brochure Board of Directors’ report on the draft resolutions

5/ MODIFICATION OF THE BYLAWS

MODIFICATION OF ARTICLE 11 OF THE BYLAWS Article L. 225-27 of the French Commercial Code, as amended located in France, at least two years before their appointment. A Director by the French Law of May 22, 2019 on business growth and representing the employees appointed by the SE Works Council must have transformation, known as the Pacte Law, now requires that held an employment contract, which must correspond to an actual post, the Board of Directors include two Directors representing the with the Company or a direct or indirect subsidiary of the Company, at employees. least two years before their appointment. The Bylaws must therefore be modified to set out the Directors representing the employees may begin their term of office procedures for the appointment of Directors representing the when the first Board of Directors’ meeting is convened following their employees (twenty-first resolution). appointment by the relevant Works Council. The proposed method of appointment is as follows: Directors representing the employees are not included in the calculation ● the first Director representing the employees would be of the maximum or minimum number of Directors as provided for in the appointed by the Group Works Council ; French Commercial Code, in the provisions of this article, and pursuant to paragraph 1 of Article L. 225-18-1 of the French Commercial Code. ● the second Director representing the employees would be appointed by the SE Works Council. 11.2.2. Pursuant to paragraph 3 of Article L. 225-25 of the French Commercial Code, Directors representing the employees are not required Consequently, you are asked, firstly, to approve the amendment to own shares in the Company during their term of office. of Article 11.1.5 of the Bylaws by adding a reference to the fact that the provisions of the French Commercial Code limiting 11.2.3. Directors representing the employees are appointed for a term of the number of Directors linked to the Company through an three years, expiring at the close of the Ordinary Shareholders’ Meeting employment contract to one-third of Directors in office shall convened to approve the financial statements for the preceding fiscal not be applicable to the Directors representing the employees. year and held in the year during which the term of office of the said Director comes to an end. Directors representing the employees may be You are then asked to approve the insertion of an Article 11.2 re-appointed. setting out the procedures for appointing Directors representing the employees. The term of office of a Director representing the employees may expire early under the conditions set out by law and in this article, and notably New Article 11.2: in the event that their employment contract is terminated (unless they “ 11.2 Directors representing the employees appointed by the Group Works move jobs within the Group). If the terms of application of Article Council and, where relevant, by the SE Works Council. L. 225-27-1 of the French Commercial Code are no longer fulfilled at the end of a fiscal year, the term of office of the Director(s) representing 11.2.1. In accordance with the law, when the number of members of the employees shall expire at the end of the meeting during which the the Board of Directors, calculated based on the provisions of Article Board of Directors observes that the Company no longer meets the terms L. 225-27-1 II of the French Commercial Code, is lower than or equal to of application of the law. eight, a Director representing the employees is appointed by the LVMH Group Works Council. In the event that the position of Director representing the employees becomes vacant, for any reason, it shall be filled in accordance with the When the number of members of the Board of Directors is higher than conditions set out in Article L. 225-34 of the French Commercial Code. eight, a second Director representing the employees is appointed by the SE The Board of Directors may continue to meet and validly deliberate before Works Council. When the number of members of the Board of Directors is the aforementioned position has been filled. initially higher than eight but falls to below or equal to eight, the term of office of the Director appointed by the SE Works Council is maintained 11.2.4. Directors representing the employees have a voting right. Subject until it expires. to the relevant provisions, Directors representing the employees have the same privileges, are subject to the same obligations, in particular In accordance with the provisions of Article L. 225-28 of the French concerning confidentiality, and are bound by the same responsibilities Commercial Code, a Director representing the employees appointed by the as the other Directors.” LVMH Group Works Council must have held an employment contract, which must correspond to an actual post, with the Company or with a direct or indirect subsidiary of the Company, whose registered office is

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 Convening Brochure 24 Board of Directors’ report on the draft resolutions

MODIFICATION OF ARTICLE 13 OF THE BYLAWS You are asked to approve the modification of the method by New fifth paragraph which notice is served for meetings of the Board of Directors “The Board of Directors may take the following decisions by written by replacing the letter addressed to each Director with a notice consultation: by any means (twenty-second resolution). ● co-optation (i) following death, (ii) following resignation, (iii) when Consequently, the second and third sub-paragraphs of the number of Directors has fallen below the minimum level set out in paragraph 1 of Article 13 of the Bylaws shall read as follows: the Bylaws, or (iv) when the gender balance of Directors on the board “Notice is served by any means, eight days prior to the meeting; it shall is no longer complied with; mention the agenda of the meeting as set by the person convening the ● authorize the granting of security, endorsements and guarantees given meeting.” by the Company; “Nevertheless, the Board may meet without delay and without a pre- ● transfer of the registered office within the same administrative region established agenda.” (département); The rest of the article remains unchanged. ● change the Bylaws to bring them into line with legal and regulatory You are also asked to approve the addition of a fifth paragraph provisions; to Article 13.2 of the Bylaws to enable the Board of Directors, ● convene the Shareholders’ Meeting. in accordance with Article L. 225-37 of the French Commercial Code, to take decisions based on written consultation, pursuant The terms and conditions for written consultation are set out in the Board to the provisions set out in the regulations: of Directors’ Charter.” The rest of the article remains unchanged.

MODIFICATION OF ARTICLE 14 OF THE BYLAWS You are asked to approve the modification of Article 14 of the Consequently, the first paragraph of Article 14 of the Bylaws Bylaws (powers of the Board of Directors) in accordance with will read as follows: Article L. 225-35 of the French Commercial Code, as amended “The Board of Directors sets guidelines for the Company’s activities by the French Law of May 22, 2019, known as the Pacte Law, and shall ensure their implementation in accordance with its societal to indicate that the Board of Directors sets guidelines for the interests, taking into consideration the corporate social responsibility Company’s activities and shall ensure their implementation, and environmental objectives of its activity. Where necessary, it will taking into consideration the corporate social responsibility also take into consideration the Company’s purpose, defined pursuant to and environmental objectives of its activity and, where relevant, Article 1835 of the French Civil Code.” the Company’s purpose (twenty-third resolution). The rest of the paragraph remains unchanged.

HARMONIZATION OF THE BYLAWS WITH VARIOUS PROVISIONS, LEGAL AND REGULATORY IN PARTICULAR, OF THE FRENCH LAW OF MAY 22, 2019 KNOWN AS THE PACTE LAW (ARTICLES 20, 21, 23 AND 25) Finally, you are asked to approve the harmonization of “The Company has a right, under the legal and regulatory provisions in the Company’s Bylaws to bring them into line with various force, to request, at any time, information on the holders of securities legal and regulatory provisions, notably, of the French Law that confer an immediate or future right to vote at its Shareholders’ of May 22, 2019 known as the Pacte Law, and to modify the Meetings, in return for a consideration, the maximum amount of which following articles accordingly (twenty-fourth resolution): shall be set by order of the Minister of the Economy, payable either to the (i) Articles 20 and 21: removal of the reference to “Directors’ central depository of the financial instruments or directly to one or more fees” ; intermediaries covered by the applicable laws and regulations. (ii) Article 23: the term “ Works Council” will be replaced by The said holders of securities shall be identified in accordance with the the term “Social and Economic Council” (“ Comité Social et laws and regulations in force.” Économique” ); (iii) Article 25 (Identification of holders of securities): Article 25 shall now read as follows:

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 25 Convening Brochure RESOLUTIONS SUBMITTED FOR APPROVAL AT THE COMBINED SHAREHOLDERS’ MEETING OF JUNE 30 , 2020

ORDINARY RESOLUTIONS

First resolution: Second resolution: Approval of the parent company financial statements Approval of the consolidated financial statements The Shareholders’ Meeting, having reviewed the reports of The Shareholders’ Meeting, having reviewed the reports of the Board of Directors and the Statutory Auditors, approves the Board of Directors and the Statutory Auditors, approves the parent company financial statements for fiscal year ended the consolidated financial statements for fiscal year ended December 31, 2019, as presented, including the statement of December 31, 2019, as presented, including the statement of financial position, statement of profit or loss, and notes, as well financial position, statement of profit or loss, and notes, as well as the transactions reflected in these accounts and summarized as the transactions reflected in these accounts and summarized in these reports and acknowledges that they show a net profit in these reports. for the said fiscal year of 3,711,544,933.36 euros.

Third resolution: Allocation of income – setting the dividend The Shareholders’ Meeting, having noted the profit for the fiscal year of 3,711,544,933.36 euros, which when added to the retained earnings of the previous year of 11,131,301,810.37 euros forms a distributable total of 14,842,834,690.03 euros, resolves, as proposed by the Board of Directors, to allocate these amounts and distribute them as follows:

(EUR) Net profit for the fiscal year ended 12/31/2019 3,711,544,933.36 Allocation to the legal reserve (12,053.70) Retained earnings 11,131,301,810.37

Amount available for distribution 14,842,834,690.03 Proposed appropriation: Total dividend for fiscal year ended 12/31/2019 2,426,070,168.00 - Of which: dividend payable under the Bylaws of 5% or 0.015 euros per share 7,581,469.28 - Of which: an additional dividend of 4.785 euros per share 2,418,488,698.72 Retained earnings 12,416,764,522.03

14,842,834,690.03

As of December 31, 2019, the Company held 1,778,911 of its The dividend is paid as a priority from distributable income own shares, corresponding to an amount not available for from dividends received from subsidiaries eligible for the distribution of 403 million euros, equivalent to the acquisition parent company plan within the meaning of Directive 2011/96/ cost of the shares. EU (“Eligible Subsidiaries”) in the following order of priority: The Shareholders’ Meeting resolves that the total dividend for (i) firstly from dividends received from Eligible Subsidiaries the fiscal year ended December 31, 2019 will be 4.80 euros per whose registered office is located in an EU member state other share. Taking into account the interim dividend of 2.20 euros than France; (ii) then from dividends received from Eligible per share distributed on December 10, 2019, the balance of the Subsidiaries whose registered office is located in France; dividend is 2.60 euros per share. The e x-dividend date will be (iii) lastly from dividends received from Eligible Subsidiaries July 7, 2020 and pa yment will be made on July 9, 2020 . whose registered office is located in a non-EU country. Based on the tax legislation applicable to securities income as it Should the Company hold, at the time of payment of this final stands at January 1, 2019, these dividends carry an entitlement dividend, any treasury shares under authorizations granted, the for private individuals who are French tax residents and who corresponding amount of unpaid dividends will be allocated have opted for their income on all eligible securities income to retained earnings. to be taxed at a progressive rate, to a tax deduction of 40%.

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 Convening Brochure 26 Resolutions submitted for approval at the Combined Shareholders’ Meeting of June 30, 2020

As required by law, the Shareholders’ Meeting notes that the gross dividends per share paid out in respect of the past three fiscal years were as follows:

Gross dividend Fiscal year Type Payment date (in euros) 2018 Interim December 6, 2018 2.00 Final April 29, 2019 4.00

TOTAL 6.00 2017 Interim December 7, 2017 1.60 Final April 19, 2018 3.40 TOTAL 5.00 2016 Interim December 1, 2016 1.40 Final April 21, 2017 2.60

TOTAL 4.00

Fourth resolution: Eighth resolution: Approval of related party agreements Reappointment of Marie-Josée Kravis as Director The Shareholders’ Meeting, having reviewed the Statutory The Shareholders’ Meeting, having reviewed the Board of Auditors’ special report on the related party agreements Directors’ report on the draft resolutions, resolves to reappoint referred to in Article L. 225-38 of the French Commercial Code, Marie-Josée Kravis as Director for a three-year period until the approves the related party agreements mentioned in the said end of the Ordinary Shareholders’ Meeting convened in 2023 report. to approve the financial statements of the previous fiscal year.

Fifth resolution: Ninth resolution: Reappointment of Delphine Arnault as Director Reappointment of Marie-Laure Sauty de Chalon as The Shareholders’ Meeting, having reviewed the Board of Director Directors’ report on the draft resolutions, resolves to reappoint The Shareholders’ Meeting, having reviewed the Board of Delphine Arnault as Director for a three-year period until the Directors’ report on the draft resolutions, resolves to reappoint end of the Ordinary Shareholders’ Meeting convened in 2023 Marie-Laure Sauty de Chalon as Director for a three-year period to approve the financial statements of the previous fiscal year. until the end of the Ordinary Shareholders’ Meeting convened in 2023 to approve the financial statements of the previous Sixth resolution: fiscal year. Reappointment of Antonio Belloni as Director The Shareholders’ Meeting, having reviewed the Board of Tenth resolution: Directors’ report on the draft resolutions, resolves to reappoint Appointment of Natacha Valla as Director Antonio Belloni as Director for a three-year period until the The Shareholders’ Meeting, having reviewed the Board of end of the Ordinary Shareholders’ Meeting convened in 2023 Directors’ report on the draft resolutions, resolves to appoint to approve the financial statements of the previous fiscal year. Natacha Valla as Director for a three-year period until the end of the Ordinary Shareholders’ Meeting convened in 2023 to Seventh resolution: approve the financial statements of the previous fiscal year. Reappointment of Diego Della Valle as Director The Shareholders’ Meeting, having reviewed the Board of Eleventh resolution: Directors’ report on the draft resolutions, resolves to reappoint Appointment of Lord Powell of Bayswater as Advisory Diego Della Valle as Director for a three-year period until the Board member end of the Ordinary Shareholders’ Meeting convened in 2023 The Shareholders’ Meeting, having reviewed the Board of to approve the financial statements of the previous fiscal year. Directors’ report on the draft resolutions, resolves to appoint Lord Powell of Bayswater as Advisory Board member for a three-year period until the end of the Ordinary Shareholders’ Meeting convened in 2023 to approve the financial statements of the previous fiscal year.

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 27 Convening Brochure Resolutions submitted for approval at the Combined Shareholders’ Meeting of June 30, 2020

Twelfth resolution: Fifteenth resolution: Approval of the information referred to Article Approval of the compensation policy in respect of L. 225-37-3 I of the French Commercial Code non-senior executive officers The Shareholders’ Meeting, having reviewed the Board of The Shareholders’ Meeting, having reviewed the Board Directors’ report on corporate governance, as covered by of Directors’ report on corporate governance prepared in Article L. 225-37 of the French Commercial Code, approves, accordance with Article L. 225-37 of the French Commercial pursuant to Article L. 225-100 II of the French Commercial Code and describing the compensation policy applicable Code, the information referred to Article L. 225-37-3 I of the to non-senior executive officers, approves, pu rsuant to French Commercial Code, as presented in point 2.2 of the Article L. 225-37-2 II of the French Commercial Code, the Board of Directors’ report on corporate governance (see 2019 compensation policy applicable to Directors, as set out in Universal Registration Document), with the understanding that point 2.1.1 of the Board of Directors’ report on corporate the aforementioned elements concerning the Chairman and governance (see 2019 Universal Registration Document). Chief Executive Officer and the Group Managing Director shall be subject to the following resolutions. Sixteenth resolution: Approval of the compensation policy in respect of the Thirteenth resolution: Chairman and Chief Executive Officer Approval of the compensation paid during fiscal year 2019 and awarded in respect of that year to The Shareholders’ Meeting, having reviewed the Board of Directors’ report on corporate governance prepared in the Chairman and Chief Executive Officer, Bernard accordance with Article L. 225-37 of the French Commercial Arnault Code and describing the compensation policy applicable The Shareholders’ Meeting, pursuant to Article L. 225-100 of the to senior executive officers, approves, pursuant to Article French Commercial Code, approves the information referred to L. 225-37-2 II of the French Commercial Code, the Article L. 225-37-3 I of said Code as well as the fixed and variable compensation policy applicable to the Chairman and Chief components (with the understanding that no e Executive Officer, xceptionalas set out in point 2.1.2 of the Board of compensation was paid or awarded to Bernard Arnault as Directors’ report on corporate governance (see 2019 Universal Chairman and Chief Executive Officer during or in respect of Registration Document). the 2019 fiscal year) comprising the total compensation and benefits in kind paid during and awarded in respect of the fiscal Seventeenth resolution: year ended December 31, 2019 to Bernard Arnault in respect of Approval of the compensation policy in respect of the his term as Chairman and Chief Executive Officer, as presented Group Managing Director in point 2.2 of the Board of Directors’ report on corporate The Shareholders’ Meeting, having reviewed the Board governance (see 2019 Universal Registration Document) and of Directors’ report on corporate governance prepared in in point 3.2 of the Board of Directors’ report on the draft accordance with Article L. 225-37 of the French Commercial resolutions, which are contained in the convening brochure Code and describing the compensation policy applicable for the Shareholders’ Meeting. to senior executive officers, approves, pursuant to Article L. 225-37-2 II of the French Commercial Code, the compensation Fourteenth resolution: policy applicable to the Group Managing Director, as set out Approval of the compensation paid during fiscal in point 2.1.2 of the Board of Directors’ report on corporate year 2019 and awarded in respect of that year to the governance (see 2019 Universal Registration Document). Group Managing Director, Antonio Belloni Eighteenth resolution: The Shareholders’ Meeting, pursuant to Article L. 225-100 Authorization to be granted to the Board of Directors of the French Commercial Code, approves the information referred to Article L. 225-37-3 I of said Code as well as the over a period of 18 months to trade in the Company’s fixed and variable components (with the understanding that shares at a maximum purchase price of 550 euros per no exceptional compensation was paid or awarded to Antonio share, for a cumulated maximum of 27.8 billion euros Belloni as Group Managing Director during or in respect of The Shareholders’ Meeting, having reviewed the Board of the 2019 fiscal year) comprising the total compensation and Directors’ report on the draft resolutions, authorizes the Board benefits in kind paid during and awarded in respect of the fiscal of Directors, with the option of sub-delegation, to purchase the year ended December 31, 2019 to Antonio Belloni in respect of Company’s own shares, in accordance with the provisions of his term as Group Managing Director, as presented in point 2.2 Articles L. 225-209 et seq. of the French Commercial Code and of the Board of Directors’ report on corporate governance (see European Regulation No. 596/2014 of April 16, 2014. 2019 Universal Registration Document) and in point 3.2 of the Board of Directors’ report on the draft resolutions, which are contained in the convening brochure for the Shareholders’ Meeting.

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 Convening Brochure 28 Resolutions submitted for approval at the Combined Shareholders’ Meeting of June 30, 2020

Shares may be acquired to meet any objective compatible with calculate the limit of 10% corresponds to the number of shares the provisions in force at the time, and in particular to: purchased after deduction of the number of shares that may be (i) provide market liquidity or share liquidity services resold throughout the authorization period and (ii) the number (purchases/sales) by an investment service provider acting of treasury shares to be used for payment or exchange in the independently as part of a liquidity contract set up by the context of a merger, spin-off or tender may not exceed 5% of Company in compliance with the AMF-approved AMAFI the capital as it stands on the date of the operation. Ethics Charter; The limit of 10% of the share capital corresponded to (ii) cover stock option plans, awards of bonus shares or of any 50,502,734 shares as at December 31, 2019. The total maximum other shares, or share-based payment plans for employees amount allocated to acquisitions may not exceed 27.8 billion or executive officers of the Company or of any related euros. undertaking under the conditions provided by the French The share purchase operations described above, and the sale Commercial Code, in particular its Articles L. 225-180 and or transfer of these shares, may be carried out by any means L. 225-197-2; compatible with the laws and regulations in force, including (iii) cover debt securities that may be exchanged for Company in the context of trading operations. shares, and more generally securities giving access to the All necessary powers are granted to the Board of Directors with Company’s shares, notably by way of conversion, tendering a view to ensuring the execution of this authorization. The of a coupon, redemption or exchange; Board of Directors may delegate powers to the Chief Executive (iv) be canceled subject to the approval of the nineteenth Officer or, where relevant and with the agreement of the resolution by this Shareholders’ Meeting; or latter, to the Group Managing Director, under the conditions provided by law, to: (v) be held and later presented for consideration as an ● exchange or payment in connection with external growth decide on the implementation of this authorization; operations, up to a maximum of 5% of the share capital; ● adjust the aforementioned maximum purchase price to take (vi) more generally, carry out any permitted transactions or account, in the event of a change in the par value of the shares, any transaction that would be authorized in future under of a capital increase through the incorporation of reserves regulations in force at that time, or that would involve an and the allocation of bonus shares, a split or regrouping of already accepted market practice or one that would come the shares, the distribution of reserves or any other assets, to be accepted by the French financial market authority capital depreciation or any other operation related to the (Autorité des marchés financiers). share capital, and the impact of these operations on the value of the share; The maximum price at which the Company may purchase its ● own shares is set at 550 euros per share, with the understanding set the conditions and procedures for the preservation of that the Company may not purchase shares at a price that rights, where necessary, of holders of securities giving access exceeds the higher of the following two values: the last quoted to the share capital, of stock options or warrants, or rights share price after the execution of a transaction in which the to bonus share grants in accordance with the relevant legal, Company was not a stakeholder or the highest independent regulatory and contractual provisions; purchase offer in progress on the trading platform on which ● place any stock market orders, sign any contracts, sign any the purchase would be made. documents, enter into any agreements with a view notably to In the event of a capital increase through the incorporation maintaining share purchase and sale registers, in accordance of reserves and the award of bonus shares and in the event with the regulations in force; of a split or regrouping of shares, the purchase price shown ● make all declarations, perform all formalities and generally above will be adjusted by a multiplying factor equal to the ratio do what is necessary. between the number of shares that make up the share capital The Board of Directors may not allow the use of this delegation before the operation and the number of shares comprising the of powers without prior authorization from the Shareholders’ share capital after the operation. Meeting in the event that a third party has made a public offer The maximum number of shares that can be acquired over on the shares of the Company, until the end of that offer the duration of the repurchase program is 10% of the share period. capital, after adjustment for transactions affecting the share This authorization shall take effect at the end of this capital after this Shareholders’ Meeting, with the understanding Shareholders’ Meeting for a period of 18 months and shall that in the context of the use of this authorization, (i) in the invalidate the authorization of the same nature, or any specific case of shares purchased under the liquidity contract, in remaining unused portion thereof, granted to the Board of accordance with Paragraph 2 of Article L. 225-209 of the French Directors by the Shareholders’ Meeting of April 18, 2019 in its Commercial Code, the number of shares taken into account to sixteenth resolution.

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 29 Convening Brochure Resolutions submitted for approval at the Combined Shareholders’ Meeting of June 30, 2020

EXTRAORDINARY RESOLUTIONS

Nineteenth resolution: occasions, bonus shares in issue or to be issued up to a total Authorization to be granted to the Board of Directors, amount of bonus shares which may not exceed 1% of the for a period of 18 months, to reduce the share capital Company’s share capital as at the date of this Shareholders’ through the cancellation of shares held by the Meeting, with the understanding that the capital increase amount in the event of new shares being issued will be Company following the repurchase of its own shares added to the overall amount of fifty (50) million euros The Shareholders’ Meeting, having reviewed the Board of set out in the twenty-eighth resolution approved by the Directors’ report on the draft resolutions and the Statutory Shareholders’ Meeting of April 18, 2019, or where relevant, Auditors’ report, and pursuant to the provisions of to the amount of any limit specified in a resolution of the Article L. 225-209 of the French Commercial Code: same nature that may subsequently be approved during the period of validity of this delegation; 1. authorizes the Board of Directors to reduce the Company’s share capital, on one or more occasions, in the proportions 2. sets the duration of validity of this authorization at twenty- and at the times deemed suitable by it, by canceling all or six months as of this date ; some of the shares that have been or may be repurchased 3. resolves that (i) the award of the shares to their beneficiaries by the Company, up to a limit of 10% of the share capital shall be definitive at the end of a minimum vesting period for each 24-month period, with the understanding that of one year, (ii) the Board of Directors may extend the this limit applies to a share capital amount that may, where vesting period and/or establish a retention period; the relevant, be adjusted to take account of operations that minimum total duration of the vesting period and, where affect the share capital after this Shareholders’ Meeting; relevant, the retention period may not be less than two 2. sets the duration of validity of this authorization at years. However, share awards to beneficiaries shall become eighteen months and notes that this delegation invalidates definitive before expiry of the applicable vesting period the delegation, or any remaining unused portion thereof, in the event of the death or disability of the beneficiary granted by the Shareholders’ Meeting of April 18, 2019 in corresponding to the classifications in the second and its seventeenth resolution; third categories set out in Article L. 341-4 of the French Social Security Code and the said shares shall become freely 3. grants all powers to the Board of Directors to carry out transferable; and record the recognition of the capital retirement and capital decrease operations pursuant to this authorization, 4. resolves that the shares awarded to senior executive officers to accomplish all deeds and formalities to this effect, and shall only become definitive subject to the fulfillment of notably all necessary declarations to the French financial the performance conditions established by the Board of market authority (Autorité des marchés financiers), to Directors; allocate the difference between the purchase value and the 5. authorizes the Board of Directors, during the vesting par value of the canceled shares to reserves and additional period, to adjust, where relevant, the number of shares paid-in capital, to reallocate the fraction of the legal reserve linked to any operations involving the share capital so as that has become available as a result of the capital decrease, to preserve the rights of the beneficiaries; to modify the Bylaws accordingly and, in general, do what is necessary. 6. acknowledges that if the award relates to shares to be issued, this authorization shall automatically entail the waiving by Twentieth resolution: the shareholders of their preferential subscription rights Authorization to be granted to the Board of Directors to the advantage of the beneficiaries of the bonus shares; for a 26-month period to award bonus shares to be 7. resolves that where this authorization proceeds, the Board issued with the removal of preferential subscription of Directors, shall, within the limits of the law, have all rights, or shares in issue for the benefit of employees necessary powers to:

and/or senior executive officers of the Company and ● establish the list of beneficiaries of the bonus shares, related entities up to a limit of 1% of the share capital ● set forth the conditions and, where relevant, criteria for The Shareholders’ Meeting, having reviewed the Board of awarding the bonus shares, Directors’ report on the draft resolutions and the Statutory ● make the definitive acquisition of all or some of the Auditors’ report, and pursuant to the provisions of shares conditional, where relevant, on the fulfillment Articles L. 225-197-1 et seq. of the French Commercial Code: of one or more performance conditions, as determined 1. authorizes the Board of Directors, at its sole discretion, for by it, the benefit of employees and/or senior executive officers ● determine the duration of the vesting period and, where of the Company or related entities within the meaning relevant, of the retention period, with the understanding of Article L. 225-197-2 of the French Commercial Code, that, for any shares awarded to senior executive officers or certain categories thereof, to award, on one or more

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 Convening Brochure 30 Resolutions submitted for approval at the Combined Shareholders’ Meeting of June 30, 2020

as set out in paragraph 4 of Article L. 225-197-1 II of the 11.1.2. Each Director must own at least five hundred (500) shares French Commercial Code, the Board of Directors shall in the Company throughout their entire term of office. be responsible for deciding whether or not these shares If on the date of their appointment a Director does not may be sold by the beneficiaries before the end of their own the required number of shares or if they cease to term of office, or for setting the number of these shares own the required number of shares during their term that they are required to retain as registered shares until of office, they shall be considered to have automatically the end of their term of office, resigned if they do not acquire the necessary shares ● decide, where necessary, in the event of operations within a period of six months. involving the share capital during the vesting period 11.1.3. No one over the age of seventy shall be appointed as a of the awarded shares, to adjust the number of shares Director if, as a result of their appointment, the number awarded so as to preserve the rights of the beneficiaries of Directors over seventy would exceed one-third of the and, in this case, determine the procedures for such Board members. The number of Directors over seventy adjustment, years of age may not exceed one-third, rounded to the ● if the award relates to shares to be issued, carry out any next higher number if this total is not a whole number, of necessary capital increase through the incorporation the Directors in office. Whenever this limit is exceeded, of reserves or issue premiums of the Company at the the term of office of the oldest Director shall be deemed time of the definitive awarding of the shares to their to have expired at the close of the Ordinary Shareholders’ beneficiaries, set the dividend dates of the new shares, Meeting convened to approve the financial statements and make the corresponding changes to the Bylaws; for the fiscal year during which the limit is exceeded.

● where relevant, record the recognition of the capital 11.1.4. Directors shall be appointed for a three-year term. increases, change the Bylaws accordingly and in general The duties of a Director shall expire at the close of the do what is necessary. Ordinary Shareholders’ Meeting convened to approve the financial statements for the preceding fiscal year and Twenty-first resolution: held in the year during which the term of office of that Modification of Article 11 of the Bylaws to define the Director comes to an end. terms for the appointment of Directors representing However, to make the renewal of appointments as employees balanced over time as possible, and in any event to The Shareholders’ Meeting, having reviewed the Board of make them complete for each three-year period, the Directors’ report on the draft resolutions, resolves to define Board will have the option of determining the order in the procedures for appointing Directors representing the which Directors’ appointments expire by drawing lots employees of the Company and to modify Article 11 of the at a Board meeting for one-third of its members each Bylaws as follows: year. Once the rotation has been established, renewals will take place according to seniority. Article 11 - Board of Directors Directors can always be re-elected; their mandate may The Company is administered by a Board of Directors be revoked at any time by decision of the Shareholders’ comprising Directors who have been appointed by two Meeting. methods: (i) Directors elected by the Shareholders’ Meeting and (ii) Directors representing the employees appointed by In the event of the death or resignation of one or more the Group Works Council and, where relevant, by the SE Works Directors, the Board of Directors may make provisional Council. appointments between two Shareholders’ Meetings. Appointments made by the Board as set out in the 11.1 Directors elected by the Shareholders’ Meeting above paragraph are subject to ratification by the next 11.1.1. Subject to exemptions set out by law, the Company is Ordinary Shareholders’ Meeting. If they are not ratified, administered by a Board comprising at least three and the decisions taken and acts previously carried out by at most eighteen members, who may be individuals or the Board shall nonetheless remain valid. legal entities, appointed by the Ordinary Shareholders’ When the number of Directors falls below the legal Meeting. minimum, the Directors in place must immediately All legal entities that have been appointed a Board convene an Ordinary Shareholders’ Meeting to bring member must appoint an individual as its permanent the number of Directors back up to the minimum level. representative on the Board of Directors. The term of A Director appointed to replace another Director office of this permanent representative is the same as whose term of office has not expired serves only for the that of the legal entity which they represent as Director. remaining period of their predecessor’s term. When a legal entity removes from office the individual who serves as its representative, it must appoint 11.1.5. A company employee may only be appointed as someone else to replace them. The same provisions Director if their employment contract is dated before apply in the event of death or the resignation of the their appointment and corresponds to an actual post. permanent representative. In this case, they will not lose the benefits of their employment contract. The number of Directors linked

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 31 Convening Brochure Resolutions submitted for approval at the Combined Shareholders’ Meeting of June 30, 2020

to the Company by an employment contract may not out by law and in this article, and notably in the event surpass one third of the Directors in office. Director(s) that their employment contract is terminated (unless representing the employees are not included in this they move jobs within the Group). calculation. If the terms of application of Article L. 225-27-1 of the 11.2 Directors representing the employees appointed French Commercial Code are no longer fulfilled at the by the Group Works Council and, where relevant, end of a fiscal year, the term of office of the Director(s) by the SE Works Council representing the employees shall expire at the end of the meeting during which the Board of Directors 11.2.1. In accordance with the law, when the number of observes that the Company no longer meets the terms members of the Board of Directors, calculated based of application of the law. on the provisions of Article L. 225-27-1 II of the French Commercial Code, is lower than or equal to eight, a In the event that the position of Director representing Director representing the employees is appointed by the employees becomes vacant, for any reason, the the LVMH Group Works Council. position shall be filled in accordance with the conditions set out in Article L. 225-34 of the French Commercial When the number of members of the Board of Directors Code. The Board of Directors may continue to meet and is higher than eight, a second Director representing the validly deliberate before the aforementioned position employees is appointed by the SE Works Council. When has been filled. the number of members of the Board of Directors is initially higher than eight but falls to below or equal 11.2.4. Directors representing the employees have a voting to eight, the term of office of the Director appointed right. Subject to the relevant provisions, Directors by the SE Works Council is maintained until it expires. representing the employees have the same privileges, are subject to the same obligations, in particular In accordance with the provisions of Article L. 225-28 of concerning confidentiality, and are bound by the same the French Commercial Code, the Director representing responsibilities as the other Directors. the employees appointed by the LVMH Group Works Council must hold an employment contract, which must Twenty-second resolution: correspond to an actual post, with the Company or with Modification of Article 13 of the Bylaws to change the a direct or indirect subsidiary of the Company, whose method by which notice is served for meetings of the registered office is located in France, dated at least two years before their appointment. A Director representing Board of Directors and to introduce the option for the the employees appointed by the SE Works Council must Board of Directors to take decisions based on written hold an employment contract, which must correspond consultation pursuant to the provisions set out in the to an actual post, with the Company or a direct or regulations indirect subsidiary of the Company, dated at least two The Shareholders’ Meeting, having reviewed the Board of years before their appointment. Directors’ report on the draft resolutions, resolves to replace Directors representing the employees may begin their the method by which notice is served for meetings of the Board term of office when the first Board of Directors meeting of Directors, namely by letter sent to each Director, with notice is convened following their appointment by the relevant by any means, and consequently to change the second and Works Council. third sub-paragraphs of paragraph 1 of Article 13 of the Bylaws.

Directors representing the employees are not included Article 13: Board of Directors’ meeting in the calculation of the maximum or minimum number The second sub-paragraph of paragraph 1 of Article 13 shall of Directors as provided for in the French Commercial now read as follows: Code, in the provisions of this article, and pursuant to paragraph 1 of Article L. 225-18-1 of the French “Notice is served by any means, at least eight days prior to the meeting; Commercial Code. it shall mention the agenda of the meeting as set by the person convening the meeting.” 11.2.2. Pursuant to paragraph 3 of Article L. 225-25 of the French Commercial Code, Directors representing employees are The third sub-paragraph of paragraph 1 of Article 13 shall not required to own shares in the Company during their now read as follows: term of office. “Nevertheless, the Board may meet without delay and without a pre- 11.2.3. Directors representing the employees are appointed established agenda.” for a term of three years, expiring at the close of the The rest of the article remains unchanged. Ordinary Shareholders’ Meeting convened to approve the financial statements of the previous fiscal year and The Shareholders’ Meeting, having reviewed the Board of held in the year during which the term of office of Directors’ report on the draft resolutions, resolves, pursuant the Director comes to an end. Directors representing to Article L. 225-37 of the French Commercial Code, to allow employees may be reappointed. the Board of Directors to take decisions by written consultation under the conditions set out in the said article. Consequently, The term of office of a Director representing the a fifth paragraph shall be added to point 2 of Article 13 of the employees may expire early under the conditions set Bylaws.

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 Convening Brochure 32 Resolutions submitted for approval at the Combined Shareholders’ Meeting of June 30, 2020

New fifth paragraph Twenty-fourth resolution: “ The Board of Directors may take the following decisions by written Harmonization of the Bylaws with various provisions, consultation: legal and regulatory in particular, of th e French Law ● co-optation (i) following death, (ii) following resignation, (iii) when of May 22, 2019 known as the Pacte Law (articles 20, the number of Directors has fallen below the minimum level set out in 21, 23 and 25) the Bylaws, or (iv) when the gender balance of Directors on the board The Shareholders’ Meeting, having reviewed the Board of is no longer complied with; Directors’ report on the draft resolutions and the provisions, ● authorize the granting of security, endorsements and guarantees given legal and regulatory in particular, of the French law of May 22, by the Company; 2019, known as the Pacte Law, resolves to harmonize the Bylaws ● transfer of the registered office within the same administrative region to bring them into line with said provisions of the said law and (département); therefore to modify the following articles: ● change the Bylaws to bring them into line with legal and regulatory (i) Articles 20 and 21: removal of the reference to “Directors’ provisions; fees”; ● convene the Shareholders’ Meeting. (ii) Article 23: susbtitution of the terms “Works Council” by the terms “Social and Economic Council”; The terms and conditions for written consultation are set out in the Board of Directors’ Charter.” (iii) Article 25: Identification of holders of securities. The rest of the article remains unchanged. Article 25 shall now read as follows: “The Company has a right, under the legal and regulatory provisions in Twenty-third resolution: force, to request, at any time, information on the holders of securities Modification of Article 14 of the Bylaws that confer an immediate or future right to vote at its Shareholders’ (Powers of the Board of Directors) Meetings, in return for a consideration, the maximum amount of which The Shareholders’ M eeting, having reviewed the Board of shall be set by order of the Minister of the Economy, payable either to the Directors’ report on the draft resolutions, Article L. 225-35 of central depository of the financial instruments or directly to one or more the French Commercial Code, and Article 1835 of the French intermediaries covered by the applicable laws and regulations. Civil Code as amended by the French Law of May 22, 2019, The said holders of securities shall be identified in accordance with the known as the Pacte Law, which introduces the notion of the laws and regulations in force.” Company’s societal interest and purpose, resolves to modify the first paragraph of Article 14 of the Bylaws as follows:

“Article 14 - Powers of the Board of Directors The Board of Directors sets guidelines for the Company’s activities and shall ensure their implementation in accordance with its societal interests, taking into consideration the corporate social responsibility and environmental objectives of its activity. Where necessary, it will also take into consideration the Company’s purpose, defined pursuant to Article 1835 of the French Civil Code.” The rest of the paragraph remains unchanged.

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 33 Convening Brochure Combined Shareholders’ Meeting - Tuesday , June 30, 2020 Convening Brochure 34 REQUEST FOR DOCUMENTS AND INFORMATION as referred to in Article R. 225-83 of the French Commercial Code

I, the undersigned, (IN CAPITAL LETTERS)

Surname and First name: ......

Address: ......

City and Post Code: ......

Email address: ...... @ ...... (if you wish to receive documents by email) as a shareholder of LVMH Moët Hennessy - Louis Vuitton, request that I be sent the documents and information concerning the Combined Shareholders’ Meeting of Tuesday, June 30, 2020 , the list of which is given in Article R. 225-83 of the French Commercial Code.

Signed in ...... on ...... Signature: ......

Shareholders may also obtain these documents from the Legal Department of LVMH Moët Hennessy - Louis Vuitton, 22 avenue Montaigne, 75008 Paris, France. IMPORTANT: this form should only be sent, dated and signed, if the shareholder intends to avail of the specified regulatory provisions. In this case, the request must be received at the address shown above, no later than the fifth day before the Shareholders’ Meeting. This form may serve as a general request for all Shareholders’ Meetings, if specified by the shareholder. The Universal Registration Document includes the annual financial statements, the consolidated financial statements, the table of appropriation of net profit which notably specifies the origin of the proposed distributable amounts, the Board of Directors’ Management Report, the Board of Directors’ corporate governance report and the reports of the Statutory Auditors with the exception of the Statutory Auditors’ Reports on the draft resolutions. These documents, in addition to the information contained in the present document, constitute the information set out in Articles R. 225-81 and R. 225-83 of the French Commercial Code. They are available on the Company’s website at www.lvmh.com (under Investors /Individual shareholders /Annual General Meetings).

Fill in the form, cut along the dotted line and sent it to the following address: CACEIS Corporate Trust, Service Assemblées Générales Centralisées, 14 rue Rouget de Lisle – 92 862 Issy-les-Moulineaux Cedex 9, France.

Combined Shareholders’ Meeting - Tuesday , June 30, 2020 35 Convening Brochure

The digital version of this document is conform to Web content accessibility standards, WCAG 2.1, and is certified ISO 14289-1. Its design enables people with motor disabilities to browse through this PDF using keyboard commands. Accessible for people with visual impairments, it has been tagged in full, so that it can be transcribed vocally by screen readers using any computer support. It has also been tested in full and validated by a visually-impaired expert. E-accessible version by �ipedif A EUROPEAN COMPANY With share capital of 151,508,201.70 euros Registered oﬃ ce: 22 avenue Montaigne, 75008 Paris, France Paris Trade and Companies Register No. 775 670 417