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Financial Statements for the Year Ended 31 December 2019

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Financial Statements for the Year Ended 31 December 2019 2020 ANNUAL ORDINARY AND EXTRAORDINARY GENERAL MEETING 5 May 2020 Annual Ordinary and Extraordinary General Meeting / 5 May 2020 SUMMARY AGENDA Annual Ordinary and Extraordinary General Meeting / 5 May 2020 AGENDA ADOPTED BY THE MANAGING PARTNERS: ORDINARY RESOLUTIONS . Approval of the Company and consolidated financial statements for the year ended 31 December 2019. Allocation of the Company’s profit. Re-appointment of Mazars as Statutory Auditor for a six-year term. Ratification of the co-optation of Nicolas Sarkozy as a member of the Supervisory Board. Ratification of the co-optation and re-appointment of Guillaume Pepy as a member of the Supervisory Board for a four-year term. Re-appointment of Martine Chêne as a member of the Supervisory Board for a four-year term. Approval of the information concerning the remuneration of corporate officers. Approval of the components of remuneration paid during or allocated in respect of 2019 to the executive corporate officers and to the Chairmen of the Supervisory Board. Approval of the remuneration policies of the executive corporate officers and of the members of the Supervisory Board. Eighteen-month authorisation for the Managing Partners to trade in the Company’s shares. Powers for formalities. The full agenda of the Meeting is set out on page 7 of the Addendum to the General Meeting Brochure. 3 Annual Ordinary and Extraordinary General Meeting / 5 May 2020 AGENDA ADOPTED BY THE MANAGING PARTNERS: EXTRAORDINARY RESOLUTIONS . Amendment of articles 12 and 14 A of the Articles of Association in order to incorporate the terms and conditions for appointing employee representative members of the Supervisory Board. The full agenda of the Meeting is set out on page 7 of the Addendum to the General Meeting Brochure. 4 Annual Ordinary and Extraordinary General Meeting / 5 May 2020 SUPPLEMENTARY AGENDA ITEMS FURTHER TO THE SUBMISSION OF PROPOSED RESOLUTIONS BY AMBER CAPITAL: ORDINARY RESOLUTIONS . Removal of Soumia Malinbaum, Aline Sylla-Walbaum and Susan L. Tolson as members of the Supervisory Board of Lagardère SCA. Removal of Jamal Benomar, Yves Guillemot, Gilles Petit and Patrick Valroff as members of the Supervisory Board of Lagardère SCA. Appointment of Valérie Ohannessian, Brigitte Taittinger-Jouyet, Laurence Bret Stern and Elena Pisonero as members of the Supervisory Board of Lagardère SCA for four-year terms. Appointment of Patrick Sayer, Yann Duchesne, Enrico Letta and Stephan Haimo as members of the Supervisory Board of Lagardère SCA for four-year terms. The full agenda of the Meeting is set out on page 7 of the Addendum to the General Meeting Brochure. 5 2020 GENERAL MEETING Arnaud Lagardère General and Managing Partner of Lagardère SCA 5 May 2020 Annual General Meeting 2020 AGENDA 1 Refocused Group 2 Ambitious transformation strategy 3 Balanced capital allocation policy 4 Transparent and efficient organisation 5 Reactive response to the COVID-19 crisis 6 Best-in-class CSR practices at the core of Lagardère growth strategy 7 Conclusion 7 Annual General Meeting 2020 A FOCUSED GROUP WITH TWO PERFORMING CORE BUSINESSES €2.4bn €4.3bn Sales 2019 33% of total sales 59% of total sales Recurring €220m €152m EBIT 2019 58% of total recurring EBIT 40% of total recurring EBIT Like-for-like +1.2% +8.1% growth Average like-for-like growth over the last 3 years Average like-for-like growth over the last 3 years Key brands “Power Engine” “Growth engine” Perspectives Growth decorrelated from the economic cycle Structural growth outpacing GDP growth Strategic positioning at the heart of industry-leading content creation Industry consolidation, providing a source of attractive opportunities Two complementary core businesses operating at scale globally in attractive markets 8 Annual General Meeting 2020 LAGARDÈRE PUBLISHING: THE WORLD #3 PRIVATE-SECTOR CONSUMER BOOK PUBLISHER Top 3 Consumer Publishing players worldwide Top rankings in core markets across main businesses Based on 2019 revenue (€bn) Trade Education 1 3 1 3 3.6 3.5 3 2 4 2 2.4 Distribution Partworks 1 2 1 1 3 Global leader in Partworks Note: Trade and Education business including Higher Education, excluding Professional; Penguin Random House including Germany’s Verlagsgruppe Random House Source: Hachette Livre, Companies 9 Annual General Meeting 2020 LAGARDÈRE PUBLISHING: KEY FACTS Top 20 sales of cultural goods 10 Annual General Meeting 2020 LAGARDÈRE TRAVEL RETAIL: A LEADING GLOBAL TRAVEL RETAIL OPERATOR 2 1 4 4 1 530m Travel Retail in Travel in Airport in Food- in Fashion clients 39 in airports Essentials Duty Free* service** countries 750 railway & metro stations 24,000 employees 270 airports 4,850 stores 70% of sales in airports Notes: Number of countries, employees, stores, airports, stations and clients @100% (incl. joint ventures) * Duty Free in airport concessions (excl. downtown) after Dufry, Heinemann and China Duty Free Group ** After Autogrill, SSP and Areas 11 Annual General Meeting 2020 LAGARDÈRE TRAVEL RETAIL: KEY FACTS Acquisition of IDF Integration of HBF Renewal of Prague Renewal of Shenzhen Award of Gabon (Libreville airport profit sharing) 12 Annual General Meeting 2020 AIR TRAFFIC DEMONSTRATED ITS STRONG GROWTH POTENTIAL AND RESILIENCE IN THE PAST World airport traffic (billion passengers, 2000-2020E) 2001: 9/11 terrorist 2005 : London 2010: eruptions of attacks bombings Eyjafjallajökull 10 2001-2002: global economic crisis 2008-2009: global economic crisis and downturn 8 +4% 2003 : SRAS 2003 : Iraq war 6 ? 4 2 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 13 Annual General Meeting 2020 AGENDA 1 Refocused Group 2 Ambitious transformation strategy 3 Balanced capital allocation policy 4 Transparent and efficient organisation 5 Reactive response to the COVID-19 crisis 6 Best-in-class CSR practices at the core of Lagardère growth strategy 7 Conclusion 14 Annual General Meeting 2020 MAJOR TRANSFORMATION OF LAGARDÈRE OVER THE PAST 15 YEARS 2003 revenue breakdown 2019 revenue breakdown News & other 11% 8% 12% 33% Lagardère €7,944m €7,211m Active 7% Press and related activities 70% 59% Notes: Consolidated 2003 revenue, excluding proportional consolidation Press and related activities: Press and Distribution Services (excluding Lagardère Travel Retail) 15 Annual General Meeting 2020 AN ACCELERATION OF THE TRANSFORMATION STRATEGY SINCE 2018 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Continued investments to reinforce leadership position in main markets and support digital transition Identification of Travel Retail as a growth engine for the Group One of many activities within (dedicated investor day in June 2012) division Acceleration of investments and reinforcement of leading position worldwide Disengagement Diversification of activities and Active portfolio streamlining following the creation of a digital platform Disposal of international press activities in 2011 Group's repositioning Disengagement Investments in sports and following the Active portfolio streamlining entertainment Group's repositioning Gradual disposal of part of the Disposal of the Disposal of Disposal of the remaining stake in Canal+ stake in EADS (7.4%) minority stakes stake in EADS France’ (20%) 16 Annual General Meeting 2020 A WINNING STRATEGY Lagardère Publishing: “Power Engine” Lagardère Travel Retail: “Growth Engine” FCF before changes in working capital (€m) Like-for-like revenue growth Average Average 148 151 9.1% 8.8% 135 136 8.2% 8.2% 122 121 7.1% 115 124 6.3% 7.0% 5.3% 65 2.9% 2012 2013 2014 2015 2016 2017 2018 2019 2012 2013 2014 2015 2016 2017 2018 2019 Lagardère Publishing, “Power Engine” of the Group Lagardère Travel Retail, “Growth Engine” of the Group • Average like-for-like revenue growth of 0.5% per year over 2012- • Average like-for-like revenue growth of 7.0% per year over 2012- 2019 2019 • Stable average cash flow of €124m over the same period (free cash • Cash flow growing progressively by an average of 14% per year to flow before changes in working capital) €87m in 2019 (free cash flow before changes in working capital) 17 Annual General Meeting 2020 AGENDA 1 Refocused Group 2 Ambitious transformation strategy 3 Balanced capital allocation policy 4 Transparent and efficient organisation 5 Reactive response to the COVID-19 crisis 6 Best-in-class CSR practices at the core of Lagardère growth strategy 7 Conclusion 18 Annual General Meeting 2020 C.60% OF SOURCES REINVESTED IN GROUP’S BUSINESSES Sources (2003-2019, €bn) Uses (2003-2019, €bn) 16.2 16.2 56% 59% 9.1 Asset Investments 9.6 disposals (capex and acquisitions) 16% 2.6 Ordinary 44% dividends Operating cash 7.2 18% flows Extra dividends 2.9 and share buybacks 1.2 7% Other Total sources Total uses Notes: Consolidated financial data, excluding proportional consolidation of EADS (2003-2006) Operating cash flows include interest paid Extra dividends and share buybacks include the share buyback programs carried out from 2006 to 2008 Other notably includes dividends paid to minority shareholders, net financing cash flows and acquisitions of minority interests 19 Annual General Meeting 2020 GROWING SHARE OF INVESTMENTS DEDICATED TO CORE ACTIVITIES Breakdown of investments (capex and acquisitions) 2012 2019 Lagardère Publishing Other main acquisitions 8% 5% 13% Other 39% Lagardère Travel Retail main acquisitions 54% 82% 20 Annual General Meeting 2020 STABLE DIVIDEND POLICY WITH A SOLID AND OPTIMISED BALANCE SHEET Dividend per share since 2012 (€) Net Debt / EBITDA ratio
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