2022 Annual Report 18 30% Club France Investor Group Thought Leadership and Key Learnings from Friends of 30% Club France Investor Group In 2022, the 30% Club France Investor Group continued to rally industry stakeholders around the same goal of sharing knowledge, best practices and tips to reach our 30% target most efficiently. As such, we organized discussions to share information and data with various experts. We sincerely thank them for their collaboration and praise them for their conviction. Fireside with Marie-Pierre Rixain, Member of the French Parliament. Sharing insights and recommendations to make sure that the law is impactful, e.g., meets its target and does not result in a “tick the box” exercise. The Copé - Zimmermann Law was instrumental in driving gender diversity at the board level but did not have the trickle-down effect at the ExCo as we hoped. • The challenge of gender diversity at ExCo is not commensurate with that at the Board level. For the latter, it’s about appointing non-executive directors f rom outside the company. With the Rixain Law, we are directly touching on the question of the glass ceiling for women and how to break it, offering equal job opportunities for men and women. • Gender breakdown at the executive level (essentially the 10 highest salaries) is intrinsically linked with the glass ceiling that women are facing. The more women with management/ business responsibilities there are, the more they will play as role models and women will gain self- confidence and raise their voices for promotion & salary equity. It’s the multiplier effect. The Gender Equality Index will be complemented with new indicators such as return f rom maternity leave. Keep in mind that it aims to be a tool for companies to achieve gender equity, and it is important to give them time to implement it. Pragmatism is paramount. Equality must be considered f rom a performance perspective. Leading by example. The top management has a role to play and can really make the difference. As a matter of example, one company in the luxury sector had 33% female representation at the ExCo while another only had 15% in 2020. CEO commitment is crucial. In general, they are convinced about it even though people tend to recruit those who look/think like them. We like to be with those who look and think like us, so it’s no surprise that the “boys club” mentality has lasted for decades alongside questioning women’s competences. The purpose of the Rixain Law is not to take opportunities f rom men but to rebalance the situation and finally offer equal economic and professional opportunities for men and women. It’s about societal fairness, economic competitiveness for French businesses, and young generations that won’t tolerate the status quo.