LAURENT-PERRIER GROUP ANNUAL REPORT 2020-2021

THE HOUSE

06 . 07

PORTRAIT THE HOUSE

Innovator in

Laurent-Perrier is a family-owned House that has always had a pioneering and innovating role in Champagne. Through its engagement in Sustainable Viticulture of the Champagne vineyards, and with each of its Cuvées, the House was created around 4 strong convictions:

The assemblage, not the vintage Blending is the real secret of the Champagne region’s quality. Laurent-Perrier is the only House that's most prestigious and exacting Cuvée, Grand Siècle, is not vintage but numbered. It is an assemblage of 3 exceptional vintages in order to recreate the perfect year.

A unique and distinctive style: freshness, elegance and purity These characteristics are present in each of the Laurent-Perrier Cuvées, always marked by aromatic complexity and exceptional fullness and length in the mouth.

Chardonnay is the majority grape variety in all of the House’s wines, with the exception of Cuvée Rosé and Alexandra Rosé. The Chardonnay grape variety brings freshness, finesse and elegance to the assemblage, and makes the Laurent-Perrier style so distinct from other Houses.

The expression of Maceration depending on the harvest allows it to obtain unequalled aromas, revealing all the richness of the best Crus of Pinot Noir. MANY WINES, ONE HISTORY

More than 200 years of history committed to champagne and Champagne area

1812 Established in Tours-sur-Marne, in the heart of the Champagne country, the House took the name of Veuve Laurent-Perrier when Mathilde-Émilie Perrier, the widow of Cellar Master Eugène Laurent, took over the running of the House in 1887.

1939 Marie-Louise de Nonancourt, a widowed mother of four, purchased Domaine Laurent- Perrier. Bernard de Nonancourt, her son, upon returning from fighting in WWII, completed an intensive apprenticeship from vineyard to cellar, before becoming Chairman and Chief Executive of the brand in 1948, then ranked as 100th place worldwide.

1959 – 1968 Grand Siècle and Cuvée Rosé, unique in the way they were crafted, were born out of a daring leap of audacity, in the process becoming two signatures of the Laurent-Perrier range

1981 A true illustration of Laurent-Perrier expertise, Ultra Brut was the precursor of the Brut Nature category, expressing champagne in its purest form and originally named “Grand Vin Sans Sucre”.

1983 – 1988 The de Castellane, Delamotte and Salon brands are integrated to make up the Laurent-Perrier Group portfolio.

1987 In 1982, Bernard de Nonancourt created an outstanding vintage rosé that captured all of his personal passion and experience. Launched in 1987, the first Alexandra Grande Cuvée Rosé Millésimée is a rare and cherished wine, an exceptional marriage between Pinot Noir and Chardonnay Grands Crus grapes.

1999 The Laurent-Perrier Group lists on the Second market of the Paris Stock Exchange. The Group sets up a Management Board and Supervisory Board configuration. Bernard de Nonancourt’s two daughters, Alexandra Pereyre de Nonancourt and Stéphanie Meneux de Nonancourt, join the Laurent-Perrier Management Board. 08 . 09 THE HOUSE

Bernard de Nonancourt (1920 - 2010).

2004 Michel Fauconnet, who had joined Laurent-Perrier in 1973, becomes its third cellar master, following Édouard Leclerc in 1950 and Alain Terrier in 1983.

2012 After Bernard de Nonancourt’s death, the Management Board, united around his two daughters, Alexandra and Stéphanie, celebrates the Bicentenary of the House of Laurent-Perrier, in a never-ending momentum.

2016 With a permanent objective of improving the quality of the wines, the production site of Clos Valin, in Tours-sur-Marne, strengthens its vinification and production facilities and increases its storage capacities. 2017 Launching of “La Cuvée”, the non-vintage brut. It embodies the evolution of the House style and is the reflection of long-term work on the quality of supply.

2018 Renovation of the Orangery of Château de Louvois built in the 17th century at the time of “Grand Siècle”, in partnership with Historical Monuments.

2019 In 2019, Laurent-Perrier innovates with Blanc de Blancs Brut Nature, a wine with no dosage, thanks to a perfect knowledge of Chardonnay vinification in stainless steel vats and careful ageing. The Marne Valley, between Dizy and Champillon. 10 . 11 THE HOUSE

THE PORTFOLIO

A portfolio of unique brands

The Laurent-Perrier Group has a balanced portfolio of complementary brands covering all market segments and distribution channels. CHAMPAGNE LAURENT-PERRIER

A wine, a pairing

Each of the cuvées in the range possesses its distinct history and personality. The unique character of Laurent-Perrier wines makes it possible to associate them with different types of cuisine from around the world.

CUVÉE ROSÉ

Cuvée Rosé was launched in 1968, born from the audacity and know-how of the House of Laurent-Perrier. The maceration – lasting from 48 to 72 hours – enables us to obtain the most subtile and rich expression of Pinot Noir. 12 . 13

CHAMPAGNE LAURENT-PERRIER THE HOUSE

GRAND SIÈCLE

Nature will probably never provide the perfect oenological year but thanks to the art of assemblage, Laurent-Perrier can in fact create it. Going far beyond rare vintages, Grand Siècle is the assemblage of three outstanding years declared as vintages by Laurent-Perrier, chosen for their complementary oenological traits and blended with up to 11 of the 17 Grands Crus of Chardonnay and Pinot Noir.

ALEXANDRA ROSÉ 2004

A rare and sought-after wine that is the result of a rigorous selection of the best plots. Alexandra Rosé is an exceptional marriage between Grands Crus grapes of Pinot Noir and Chardonnay which have reached perfect maturity at the same time. Enjoying Alexandra Rosé Vintage is a rare moment that must be reserved for only the finest dishes. CHAMPAGNE LAURENT-PERRIER

BLANC DE BLANCS BRUT NATURE

By perfecting its knowledge of this style of vinification and by the careful ageing of this variety in stainless steel vats Laurent-Perrier has been able to create Blanc de Blancs Brut Nature. This wine, without any dosage is a true wine for gastronomy pairing well with the finest fish.

ULTRA BRUT

Pioneer of the Brut Nature category, Ultra Brut is a wine with no added sugar, expressing a champagne in its purest form. Launched in 1981, this wine is a true illustration of House know-how. This wine pairs perfectly with seafood, sushi and a white fish ceviche as well as a young parmesan or a pata negra ham. 14 . 15

CHAMPAGNE LAURENT-PERRIER THE HOUSE

“LA CUVÉE”

This wine comes from the purest grape juice and it alone allows Laurent-Perrier to craft “La Cuvée”, a champagne of great finesse and beautiful freshness obtained after a long ageing process in our cellars. Its citrus and white fruit notes, along with its perfect balance between freshness and delicacy, supported by a subtle effervescence, make it ideal as an aperitif.

BRUT MILLÉSIMÉ 2008

The Vintage is the choice of an exceptional year from which selected Grands Crus of Chardonnay and Pinot Noir will enter into a future iteration of Grand Siècle. Brut Millésimé 2008 is a rare and outstanding wine that expresses the character of the year in the Laurent-Perrier style. Brut Millésimé 2008 pairs well with textures that are tender and delicate such as shellfish, noble fish, poultry and veal fillet.

16 . 17

CHAMPAGNE SALON THE HOUSE

A unique champagne, an exceptional wine

Everything in this exceptional wine bears the signature of its uniqueness. One man: Aimé Salon. A single terroir: the Côte des Blancs. A single cru: Le Mesnil-sur-Oger. A single varietal: Chardonnay and a single year, free from any assemblage. Launched in September 2019, the mixed oenotheque case featuring a Salon 2008 magnum and two bottles of the 2007, 2006 and 2004 vintages, has been a huge success worldwide. Our long-time importers and new markets wanted to purchase this exceptional wine library. Recognized by the most important international tasters, Salon 2008 obtained 100 points from Antonio Galloni or Decanter. CHAMPAGNE DELAMOTTE

At the heart of the Côte des Blancs, the sister House of Champagne Salon

Founded in 1760, The House of Delamotte offers characterised by the freshness and delicacy of Côte des Blancs Chardonnays and which perfectly express the peerless flavour qualities of this noble varietal. Ethereal, sprightly, becoming more complex with age they are champagnes for any occasion. Champagne Delamotte continues to develop its visibility and reputation thanks to a strong online presence: on social networks with virtual tastings or video conferences with professional customers but also with journalists. The presence of Delamotte cuvées on e-business websites in France and abroad has helped to support sales, particularly those of Blanc de Blancs Millésimé 2012. This success translates into new collaborations with high-level importers and the development of Champagne Delamotte in promising new markets. 18 . 19

CHAMPAGNE DE CASTELLANE THE HOUSE

The perfectly mastered blending of Chardonnay, Pinot Noir and Meunier

The De Castellane brand, created in 1895 by Florens de Castellane, is stamped with the red cross of Saint Andrew. Located on the heights of the city of Epernay, the Sparnacian House stands out for its architecture and the richness of its heritage. The belfry tower overlooking the vineyard of Epernay is a symbol of the city and its strategic location at the edge of the railway linking Paris to Strasbourg allowed the brand to find new impetus thanks to the momentum created by Alexandre Mérand.

In 2018, the House did research on its history, its buildings registered under the French historical monuments, highlighting the tower and its exceptional heritage. It is to be seen in the labelling library. A GLOBAL PRESENCE

7 SUBSIDIARIES

BELGIUM FRANCE GERMANY ITALY SWITZERLAND UNITED KINGDOM USA

INDEPENDENT DISTRIBUTORS IN 120 COUNTRIES

AUSTRIA BRASIL CANADA CHINA IVORY COAST JAPAN NORDIC COUNTRIES PUERTO RICO RUSSIA SPAIN UAE… 20 . 21

A CHAMPAGNE ANCHORAGE THE HOUSE

TOURS-SUR-MARNE

4 Champagne Laurent-Perrier’s global ranking by value.

44.6 % Percentage of turnover generated by Laurent-Perrier brand premium cuvées between April 2020 and March 2021.

82.1 % Percentage of turnover from exports for the Laurent-Perrier brand in 2020-2021.

184.7 Turnover (champagne) of the Laurent-Perrier Group in millions of euros as of the 31st of March, 2021. xxxxxxxxxxxxxxxxxx THE QUALITY

OF WINES

24 . 25

THE VINEYARD,

A TREASURE TO BE NURTURED THE QUALITY OF WINES

The art of assemblage by Laurent-Perrier

Assemblage is the art of champagne in which Laurent-Perrier excels thanks to the expertise of the team led by Michel Fauconnet, 3rd Cellar Master since 1950. At Laurent-Perrier, winemaking means selecting the best juice from the press, working with the three main Champagne varietals, Chardonnay mostly, Pinot Noir and Meunier, which is used solely in making “La Cuvée” and demi-sec “Harmony”. It also means choosing the still wines that will go to make up the final composition from the 319 villages in the Champagne AOC area including 17 Grands Crus and 44 Premiers Crus. To make wine is to achieve the perfect balance between a base year and reserve wines to recreate the characteristic Laurent-Perrier style each year. Finally, it means ageing our Cuvées for long periods so that they are perfectly ready to enjoy as soon as they are released onto the market. Each of these stages, however important, can only be accomplished if we have the best grapes, which is why our long-standing partnerships with the region’s growers and cooperatives, often over several generations, are vital. RESPECT FOR EARTH,

AIR AND WATER

Laurent-Perrier, responsable and committed

Since the 1980s, Champagne has been dedicated to implementing solutions to protect the environment. Today, the Champagne industry has the 2030 target of having 100% of certified surfaces, working in three main areas: - the preservation and enhancement of land and landscapes, - the management of effluent, waste and by-products, - the reduction of the carbon footprint. As part of its environmental strategy for the vineyard and for 100% of its parcels, the Laurent-Perrier Group obtained the Sustainable Viticulture in Champagne (SVC) and the High Environmental Value (HEV) certifications in February 2018. The Group also controls its waste production, both related to wine production and product packaging, by promoting recycling. Laurent-Perrier also strives to minimize its consumption of water, electricity and gas at its production site. 26 . 27 THE QUALITY OF WINES

28 . 29

GRAND SIÈCLE BY LAURENT-PERRIER

Recreating the perfect year

Laurent-Perrier is convinced that by pushing the requirement for assemblage even further, it is possible to recreate the perfect oenological year, one that would put together the ideal balance from its different organoleptic components. THE QUALITY OF WINES Grand Siècle is not a vintage wine. Each iteration is numbered, much more rarely than vintage years in Champagne. Only 24 iterations have been produced in 65 years compared to the 45 vintages declared for the entire profession over the same period. Grand-Siècle applies the following three rules: - Assemblage of a selection of 3 exceptional years, consisting of one dominant year (the youngest) complemented with 2 earlier years chosen from the rare vintages produced by Laurent-Perrier. - Assemblage of a selection of 11 of the 17 existing Grands Crus in Champagne whose characteristics are specific to the Laurent-Perrier style. - Assemblage with a majority of Chardonnay supplemented by Pinot Noir and benefiting from more than 10 years of aging in the Cellars. These three rules result in a champagne wine with a perfect balance between density, aromatic depth and complexity. It offers exceptional aging potential.

GRAND SIÈCLE ITÉRATION N°22 (2004-2002-1999)

98/100 18,5/20 96/100 James Suckling Jancis Robinson Richard Juhlin USA UK Sweden

GRAND SIÈCLE ITÉRATION N°24 (2007-2006-2004)

19,5/20 97/100 18,5/20 Guide Bettane & Desseauve James Suckling Jancis Robinson France USA UK LAURENT-PERRIER CUVÉE ROSÉ

The expression of Pinot Noir chosen by the best

Cuvée Rosé is born from boldness: to create a great rosé champagne with powerful and subtle aromas of fresh red fruits. Cuvée Rosé is made from the best Crus of the Montagne de Reims and the grapes from carefully selected plots are sorted and destemmed before vatting. The maceration reveals all the aromatic richness of Pinot Noir. Precursor of the macerated rosé champagne, Cuvée Rosé is today the benchmark of its category around the world.

95/100 16,5/20 17,5/20 Decanter World Wine Awards 2020 Jancis Robinson Bettane et Desseauve 2021 UK UK France 30 . 31 THE QUALITY OF WINES

THE QUALITY

OF PEOPLE SALES REVIEW

STEFANO DELLA PORTA

Laurent-Perrier Italy Managing Director

How did the Italian market fare in 2020, impacted by the Covid-19 pandemic? We have faced different situations within the past year: in March-April, we saw a total downfall of the wine market, with the only exception of the online channel; during the summer period we experienced a sort of “spending revenge” by the Italian consumers, in particular for “haut de gamme” products. During the Christmas period, the off-trade channels for Champagne consumptions almost completely absorbed the loss of the HORECA channel. We have seen a sort of total adaptation of the consumer to this new situation, with an excellent performance of our brand.

How did you get through this unprecedented crisis? Since the beginning our key word has been “flexibility”: we have developed home office and used technological tools in order to be immediately performant. We were constantly linked with our area managers and seized all opportunities to continue our sales activities. We have decided since the beginning not to change our commercial strategy, and this has given us credibility.

What lessons have you learned for the years to come? Firstly, the importance of people and the importance of relationships. The quality of our teams and the relationship with our partners have been determinants. Secondly, our brand awareness and the quality of our wines are more important than price policy. 34 . 35 THE QUALITY OF PEOPLE

MICHELLE DEFEO

Laurent-Perrier US Managing Director

How did the US market fare in 2020, impacted by the Covid-19 pandemic?

The strong momentum we were experiencing in our business in early 2020 came to an abrupt halt as the pandemic began to grip the US. Volume fell during the first half of the calendar year due to on-premise closures and weakened consumer demand. We responded to these challenges quickly, and thanks to our actions we were able to reverse the decline and grow substantially in the latter half of the year. We ended the calendar year 2020 with depletions of growth of over 5% vs 2019 – a considerable achievement given that total shipments of champagne to the US fell by 18.8% during that same period. This trend has been confirmed as demand improved and the on-trade reopened in several large markets. At end of March, Laurent-Perrier’s sales in the US were up over 9% and depletions were up over 15% vs March 2020, enabling us to start the new fiscal year F22 in a healthy position with positive tailwinds.

How did you get through this unprecedented crisis? Everyone at LPUS was steadfastly committed to preserving the progress we had been making building the Laurent- Perrier brand. Prior to the pandemic, the sales team and I spent a great deal of time traveling to markets throughout the country, meeting with trade and consumers. Being required to stay in one place allowed us to shift to becoming a more proactive and communicative team. By the end of April 2020, we had already pivoted to the off-trade and were engaged in developing programs with our retail partners. We had already been expanding our business with several online retailers, so we benefitted from the tremendous growth they experienced. With all of our accounts, we strove to be creative and flexible, helping them in any way we could. For example, we held hundreds of virtual tastings for our accounts’ customers last year. We acted quickly and pragmatically, and we never sacrificed our long-standing principles of maintaining qualitative distribution, price integrity, and a strong brand image. Despite our retail focus, we by no means ignored the on-trade. We were able to find many ways to support this segment. We created programs for accounts that were able to do delivery or take-away and we were present as soon reopenings began.

What lessons have you learned for the years to come? First and foremost, having the right team and supporting them professionally and personally is essential. Bernard de Nonancourt’s quote “Quality of the product, quality of the people” illustrates the need for a cohesive and motivated team. Be a strong brand, known and recognized by wine professionals, sommeliers and wine merchants, but also by lovers of champagne. Secondly, adapting to the market. The pandemic has changed the economic landscape and new players have emerged with new types of retailers, significant growth in e-commerce and the evolving needs of our customers that require us to adapt. Lastly, to challenge ourselves and to plan for each of the upcoming actions. DAVID HESKETH

Laurent-Perrier UK Managing Director

How did the UK market fare in 2020, impacted by the Covid-19 pandemic? The pandemic had a significantly different impact depending on the trade channel. The on-trade was effectively closed for 19 weeks, during the two lockdowns, and while some outlets gradually reopened as restrictions were eased others remained closed. The third lockdown imposed in mid-December again halted on-trade establishments and encouraged online sales as home consumption continued to grow. Thanks to a high-end sales strategy in the off-trade channel in particular with Cuvée Rosé, Laurent-Perrier saw its volumes grow by 46.3% in volume and 47.1% in value and its market share by 5.9% in value.

How did you get through this unprecedented crisis? At the onset of the pandemic three key areas of focus were identified: maximising profitability, maintaining customer relationships and staff welfare. The overriding objective being to best prepare the business for the post pandemic trading environment. To protect sales revenue and market share from the potentially detrimental impact of the pandemic, the pragmatic decision was taken to promote our products in the off-trade more frequently than previous years. With the gradual summer reopening of the on-trade we prioritised activations with key customers with outdoor spaces, thus driving sales and brand awareness as these were amplified via social media.

What lessons have you learned for the years to come? One of the key lessons learned was the importance of being flexible and adaptable as market conditions changed. Prior to the pandemic some structural changes in the market were already becoming apparent, such as the growth of internet retailing and how these changes have now been greatly accelerated. New trends have emerged such as “dine at home” which are bringing new challenges to the premium on-trade, revising preconceptions of what 'take- away' is. Consumer behaviour is changing too, being deprived of dining and drinking out for long periods, there is a greater desire for a memorable experience and a preparedness to pay accordingly. Another important lesson of the pandemic, was the reminder of the vital role people play in what we do. Our success has been founded on a strong team and good relationships with key customers. 36 . 37 THE QUALITY OF PEOPLE

SEZAÏ OZKAN

Laurent-Perrier Germany and Switzerland Managing Director

How did the German market fare in 2020, impacted by the Covid-19 pandemic? The German market was significantly impacted by the Covid-19 pandemic as most of the neighbouring countries. the gastronomy sector was severely hit by the first and second lock-down as the restaurants and hotels had had been closed for most of the time since March 2020. As a result, Laurent-Perrier having a strategic focus on gastronomy was more affected than brands mainly present in retail.

How did you get through this unprecedented crisis? The first priority is always to determine safety measures to make sure that the team stays safe. As a consequence, we ordered home-office for most of the team members and organized the necessary tools, such as videoconferencing tools, masks etc. Another important driver to get through the crisis is to keep your team motivated. We insisted right from the beginning that we rely on every team member and that the long-term strategy should not change. Moreover, we recruited new people to be more strongly prepared for the after crisis period and make sure that we adapt quickly to the new situation. We noticed an increased demand for higher quality products for home consumption. Hence we supported the gastronomy sector with home delivery concepts and extended cooperation with premium wine stores and delicatessen stores. The result is that we are closing the fiscal year with a turnover of +0,8% versus last year’s, thus beating our own expectations and gaining an important market share in a very difficult environment.

What lessons have you learned for the years to come? Bernard de Nonancourt said “quality of people, quality of wine”. During a crisis like this, you can easily realize the importance of this sentence. With high quality products you are better prepared for unforeseen situations and a crisis. You also need a qualified and motivated team that is able to respond quickly but also smartly to the new situation. Thus never compromise on the quality of your team. Brand strength is a key leverage. Another important key is your network and the quality of your relationship with customers and partners. It has to be strong, authentic, sustainable and reliable. This helps in the crisis and strengthens the relationship even through to the following period. LUCIE PEREYRE de NONANCOURT

4th generation at Laurent-Perrier and Representative of Grand Siècle

Joining the Group in September 2019, Lucie Pereyre de Nonancourt, 4th generation at Laurent-Perrier, is part of the House’s innovative know-how, working alongside Michel Fauconnet and working with Edouard Cossy to promote the prestige cuvée Grand Siècle throughout the world.

ÉDOUARD COSSY

Grand Siècle Global Director

Having joined the Laurent-Perrier Group in 2012, Edouard Cossy successfully contributed to the commercial and image development of Laurent-Perrier in China and Northern Europe, and de Castellane in France and Europe. His knowledge of the House, of its Cuvées and the high-end markets gives him the experience to accompany Laurent-Perrier in its value growth strategy on Grand Siècle. 38 . 39

LUCAS KACZMAREK

Commercial On Trade & Digital Retail Director for France, Belgium and Northern Europe THE QUALITY OF PEOPLE

Considering Olivier Kanengieser has extended responsibilities within the Group, Lucas Kaczmarek joined Laurent-Perrier as Commercial On Trade & Digital Retail Director for France, Belgium and Northern Europe. Lucas Kaczmarek will be most particularly in charge of developing the House with retail players in physical outlets and on online sales platforms.

GUILLAUME PAILLARD

Regional Export Director

In the Group since 2012 and given his successful experience since 2015 in Japan, Guillaume Paillard pursues the development of the Laurent-Perrier brand in Asia. He extends his responsibilities to China, Hong Kong and Singapore. Maison Rapin THE BRAND’S

STRENGTH A STRENGTHENING

OF THE DIGITAL PRESENCE

INCREASED VISIBILITY ON SOCIAL MEDIA

The Instagram account @champagnelaurentperrier, is followed with passion by more than 150,000 people all over the world. The House also creates additional and complementary contents on other social media channels, such as Facebook, LinkedIn, Youtube and Pinterest.

A NEW CORPORATE WEBSITE

The corporate website www.laurent-perrier.com, available in French, English and German, divulges the history of the House and gives information and characteristics on each of the emblematic Laurent-Perrier Cuvées.

AN EVERLASTING RELATIONSHIP WITH OUR CLIENTS AND OUR CONSUMERS

Every month, a Laurent-Perrier newsletter enables the connoisseurs to follow news about the House: launch of our Cuvées, events, tastings, awards… A key tool in order to retain our clients and customers. 42 . 43 THE BRAND’S STRENGTH

@champagnelaurentperrier @champagnelaurentperrierFR Champagne Laurent-Perrier Champagne Laurent-Perrier champagnelaurentperrier

44 . 45 THE BRAND’S STRENGTH GRAND SIECLE MENUS

WITH NIKKEI IN JAPAN

For the second year in a row, Laurent-Perrier, in partnership with Nikkei, the leading daily business newspaper in Japan, continues its commitment to gastronomy by partnering with 5 talented chefs. This communication operation features 5 Michelin- starred restaurants developing exceptional menus pairing with Grand Siècle by Laurent-Perrier.

This communication campaign, distributed in 170,000 copies in November, was a great success in the Land of the Rising Sun and won the « Nikkei Advertising Award » for the Nikkei Magazine Style category in November 2020. The booklet dedicated to Grand Siècle was highly acclaimed by a jury of communication professionals. GREATER VISIBILITY

AMONG CUSTOMERS

AND CLIENTS

Showcasing Laurent-Perrier

Improving point-of-sale displays or within the clients’ facilities enables us to offer occasional sales animations and tastings of the different Laurent-Perrier Cuvées, in order to introduce customers to the exclusive House style. This is the result of the daily commitment of our salesforce team. 46 . 47 THE BRAND’S STRENGTH

Top: Launch of the limited edition “Sun” at the Publicis Drugstore (Paris); bottom left: Laurent-Perrier on the terrace of Kerridge’s Bar & Grill Corinthia (London); bottom right: Showcase Laurent-Perrier Cuvée Rosé at Lavinia (Madrid). Top to bottom and left to right : Toshitaka Omiya - restaurant Alliance (Paris) ; Pierre Sang - l'Atelier Pierre sang On Gambey (Paris) ; Franz W. Faeh - Gstaad Palace (Suisse) ; Paul Pairet - Mr & Mrs Bund (Shanghai) ; Kosuke Nabeta - Sola (Paris) ; Yannick Franques - La Rôtisserie d'argent (Paris) ; Michel Roux - Le Gavroche (Londres) ; Denny Imbroisi - Ida (Paris) et Raphaël Régo - Oka (Paris). 48 . 49

A STRONG ATTACHMENT

TO GASTRONOMY THE BRAND’S STRENGTH

Laurent-Perrier cultivates its attachment to gastronomy, in collaboration with renowned chefs and in partnership with the world’s leading hotels and restaurants.

LAURENT-PERRIER, PARTNER OF GASTRONOMY

Laurent-Perrier’s history and that of gastronomy have always been intimately linked. Since the 1950s, Laurent-Perrier has developed a range of wines based on freshness, finesse and elegance to pair perfectly with French gastronomy, as an aperitif and throughout the meal. Since then, Laurent-Perrier has always been able to accompany the key players in gastronomy and sublimate their creations.

CUVÉE ROSÉ, “CHOSEN BY THE BEST”

This claim is the signature of the media campaign launched in 2015, in partnership with the world’s greatest establishments: Gstaad Palace, la Tour d’Argent, Byblos, The Ritz London, Principe di Savoia… Recognized the world over as best-in-class for selecting fine wines, their endorsement is an honour for Laurent-Perrier as well as a guarantee of quality and excellence for their clients and consumers. Domaine Laurent-Perrier - Galerie des Moines. 2020 – 2021 YEAR Alexandra Pereyre de Nonancourt Stéphane Dalyac Stéphanie Meneux de Nonancourt

THE MANAGEMENT BOARD

“In the context of the global COVID-19 pandemic, the Group continued to improve the quality of its wines and its value policy, a long-term strategy.” 52 . 53 2020 – 2021 YEAR

The exercise showed the relevance of this strategy and the Group’s ability to adapt to a difficult context. These positive results were made possible thanks to the good performance of the high-end Cuvées, the strict application of a cost reduction policy and a qualitative management of our stocks and supplies. While turnover and gross margin declined significantly, the operating result remained stable with an operating margin rate increasing.

The pandemic period also taught us that the trends observed over the past several years have strengthened and accelerated, such as the place of export, which has been strong and still growing over the past 10 years, or the development of e-business.

The resilience of the high-end section, in particular Laurent-Perrier Cuvée Rosé and Salon, and the very good performance of the US and UK markets allowed us to maintain our operating result and achieve a share of the high-end segment in Laurent-Perrier sales at its highest record of 44.6%.

For the new fiscal year 2021-2022, although the perspectives are still uncertain, recovery can be seen with determination thanks to a particularly solid financial structure. The Group will resume its long-term investments, particularly in support of its brands, and therefore expects a likely decline in its operating result.

The quality of our wines, the quality of our teams around the world, and our increasingly strong brands are the best assets for success.

Stéphane Dalyac Chairman of the Board THE SUPERVISORY

BOARD

“Laurent-Perrier has seen positive results in a global pandemic that has had a strong impact on the market.”

Laurent-Perrier maintained its value policy in an unprecedented context of the global Covid-19 pandemic, under the authority of Stéphane Dalyac, Chairman of the Management Board.

This strategy allowed the Group to resist well. After a sudden shutdown in March 2020, recovery took place differently according to the markets: the UK and the US in particular experienced very good results, while the French market experienced a sharp decline. The good performance of the high-end Cuvées allowed the Group to maintain its results. The impact of the pandemic, while of course causing a decline in the turnover and gross margin, did not affect the operating result and the operating margin. While uncertainty still weighs in the months ahead, we begin the year with caution but determination.

After an exercise of extreme vigilance regarding investments and expenditures, Laurent-Perrier will intensify its investments and the support of its brands.

During the 2020-2021 fiscal year, the Board approved the half-yearly and annual accounts and endorsed the budgets and the strategic plan.

The Supervisory Board is convinced that the Laurent-Perrier Group has the necessary assets to continue its growth.

Maurice de Kervenoaël Patrick Thomas Honorary Chairman Chairman of the Supervisory Board 54 . 55 2020 – 2021 YEAR Patrick Thomas, Maurice de Kervénoaël, Chairman Honorary Chairman

Marie Cheval, Yann Duchesne Jocelyne Vassoille Vice-Chairman

Jean-Louis PereyreClaude de Nonancourt Eric Meneux

Wendy Siu Philippe-Loïc Jacob FINANCIAL RATIOS

INVENTORY/DEBT DEBT/EQUITY TO END-MARCH (%) TO END-MARCH (%)

185% 186% 188% 194% 199%

70% 68% 68% 65% 63%

03.201703.2018 03.2019 03.2020 03.2021 03.2017 03.2018 03.2019 03.2020 03.2021

CASH FLOW DEBT FROM OPERATIONS

EVOLUTION EVOLUTION

14.7 14.3 285.8 284.0 286.9 278.0 274.2

3.6

1.7

-2.2

2017 2018 2019 2020 2021 2017 2018 2019 2020 2021

Laurent-Perrier Group (€ million) Laurent-Perrier Group (€ million) 56 . 57

COMPTE D’EXPLOITATION

€ MILLION

TURNOVER (CHAMPAGNE) 231.3 184.7 -20.1% TURNOVER (CHAMPAGNE) 41.2 41.3 +0.2%

AS % OF TURNOVER (CHAMPAGNE) 17.8% 22.4% +4.6 PTS 2020 – 2021 YEAR GROUP NET INCOME 23.7 25.3 +6.5 %

AS % OF TURNOVER (CHAMPAGNE) 10.3% 13.7% +3.4 PTS CASH FLOW FROM OPERATIONS* 14.3 3.6 -10.7

REAL 2020 REAL 2021 CHANGE

*Funds from operations minus net investment.

SUMMARY BALANCE SHEET

ASSETS LIABILITIES

€ Million € Million

61.0 145.2

03.2019 927.3 537.2 03.2019 927.3 422.9

255.7 285.8

54.8 141.9

03.2020 949.7 552.2 03.2020 949.7 440.0

258.9 284.0

44.1 124.8

03.2021 957.5 569.5 03.2021 957.5 455.0

253.1 286.9

TRADE RECEVABLES TRADE PAYABLES* INVENTORY SHAREHOLDERS’ EQUITY FIXED ASSETS DEBT**

*Including contingencies and loss provision and deferred tax. **Net debt = financial debts - cash assets STOCK MARKET

Ever since it was listed on the stock exchange, Laurent-Perrier has maintened close relations with its shareholders via:

A financial website at Stock market data Capital structure www.finance-groupelp.com ; at 31st of March, 2021 % Two newsletters mailed, Nominal share price: €3.80 Family: 61.01% each year to all shareholders; Shares in circulation: 5,945,861 Treasury shares: 0.42% An available team Share price as of 31 march 2021: €79.40 Employees: 0.31% Tel: +33 (0)3 26 58 91 22. Registered institutionals: Market capitalisation: €472,101,363.40 0.48% Other: 37.78% ISIN code: FR0006864484 Dividend: €1.03 (last dividend paid in October 2020)

Laurent-Perrier share price CAC 40 and CAC small 90

170%

150%

130% CAC 40 +38.0%

110% LAURENT-PERRIER +5.9%

90% CAC SMALL 90 +70.7%

70% 01/04/2020 - 100 period from 01/04/2020 50% to 31/03/2021

20 20 ay 20 er 20 M b April 20 June 20 July 20 mber 20 m uary 21 ember e March 21 August 20 October Jan February 21 Sept Nov Dece 58 . 59 2020 – 2021 YEAR

To consult the 2020 - 2021 Reference document, go to www.finance-groupelp.fr

Written and published by Laurent-Perrier. Design and Layout by agence Bronx. Photo credits: Leif Carlsson, François Halard, Franck Hamel, Isabelle Harsin, Christopher Jenney, Photothèque Laurent-Perrier, Agence Luma, Nikkei Style Magazine, Catherine Rebois, Agence Weston Mills. Domaine Laurent-Perrier 51150 Tours-sur-Marne (France) Siret : 335 680 096 00021 - APE 6420Z Tel. : +33 (0)3 26 58 91 22 - Fax : +33 (0)3 26 58 77 29 www.laurent-perrier.com

A Public Limited Company governed by Management Board and Supervisory Board, capitalised at €22,594,271.80