Press Release - Women in Executive Management Teams

                    PRESS RELEASE Six asset managers call on French large caps to establish action plan to have at least 30% women in executive management t eams by 2025 P ARIS , 11 N OVEMBER 2020 Six asset management companies representing nearly 3 trillion euros 1 in assets under management – Amundi, AXA Investment Managers (AXA IM), La Banque Postale Asset Management (LBP AM), Sycomore Asset Management, and two firms affiliated with Natixis Investment Managers, Mirova and Ostrum Asset Management – have created the 30% Club France Investor Group in order to promote better gender diversity within the SBF 120 2 ’s executive management teams. By combining the engagement and voting capacities of its member companies, the 30% Club France Investor Group ("The Group"), which was initiated by AXA IM, aims to increase the representation of women in the SBF 120’s executive management t eams to reach at least 30% by 2025. The Group does not intent to fix mandatory quotas but supports a voluntary approach aimed at implementing meaningful and sustainable chang e. The Group also aims to collaborate with and coordinate a commun ity of investors around the issue of gender diversity, as well as generate open discussions with the SBF120 companies and support them in this transition. “ Diversity in executive management teams fosters a more efficient and innovative decision- making process and allows for better retention of talent. As investors, we want to encourage the sustainable growth of the companies in which we invest, and we are convinced that this can come from a better representation of wo men in executive management teams. For this reason, we are launching today the 30% Club France Investor Group ,” declared the members of the Group. The six asset management companies will engage with companies ( including the CEOs, Heads of Human Resources, members of the Boards of Directors, n omination committees)   1 As at September 30 th , 2020 2 The SBF 120 is a French stock ma rket index on the Paris stock exchange which includes the 120 most liquid stocks on the French primary and secondary market. It includes CAC 40 companies as we ll as 80 other listed companies whose securities are the most liquid.