2022 Annual Report 12 30% Club France Investor Group MEDEF Study on Gender Equality Commitments among SBF120 MEDEF is the leading network of entrepreneurs in France and a social partner for entrepreneurs helping to establish social dialogue. Over 95% of MEDEF members are small- and medium-sized enterprises (SMEs) representing various economic sectors. The organization promotes entrepreneurship and defends f ree enterprise, with one of its key focuses being job creation and sustainable growth as part of the long-term economic development of businesses. Sustainable development and social aspects of businesses are among the main topics on which MEDEF is continuously working. The organization has conducted various studies and regularly sets up surveys to gather relevant information on social, sustainability, and economic trends such as the socio-eco impact of digitalization, employment of disabled people, employee health & safety, and diversity & inclusion. Gender diversity continued to be one of the priority topics for MEDEF in 2022. For the second consecutive year, MEDEF experts conducted a data survey to identify gender diversity (feminization) levels in the composition of SBF120 companies’ executive bodies. The survey was successful, and MEDEF kindly shared with us some of their observations. Data stand for year 2021. Key Takeaways When reviewing the data provided by MEDEF, the 30% Club France Investor Group observed three key takeaways.  Observation 1: The majority of the SBF120 have targets on gender diversity with five new companies committing to support female leaders in 2021 The rate of disclosure is quite high with 103 out of 120 companies having published information on gender diversity as regards the composition of their governing bodies. Moreover, 97 responding companies (versus 92 last year) have already published commitments and targets to increase gender diversity among their governing bodies. Six of the responding companies still have no gender diversity targets with two of them having zero women in governing bodies at the end of 2021 and two others not disclosing this information at all. We hope to see further improvements in the near future, with all SBF120 companies setting and reinforcing gender diversity targets.