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General Meeting of June 26, 2020: Danone receives the approval of its shareholders to become the first Mission Listed company

Press release – Paris, June 26, 2020

General Meeting of June 26, 2020

Danone receives plebiscite from its shareholders to become the first Listed Mission Company

At its general meeting, Danone has today become the first listed company to adopt the status of Enterprise to Mission, supported by the vote of its shareholders at more than 99%. Now officially endowed in its statutes with a raison d’être and social, societal and environmental objectives faithful to its conviction that human health and the preservation of the planet are interdependent, Danone thus takes a new step in the pursuit of ” a model for creating sustainable value for all of its stakeholders.

The progress made in achieving these objectives will be overseen by an independent Mission Committee of ten members whose names were announced at the general meeting; it will bring together eight highly qualified experts mainly from international organizations (Sharan Burrow, Ngozi Okonjo Iweala, Pascal Lamy, Rose Marcario, Hiromichi Mizuno, David Nabarro, Gabriela Ilian Ramos, Rajiv Shah) as well as an independent director (Guido Barilla) and an employee (Emna Lahmer). Their respective biographies are available in the appendix to this press release.

Guido

Sharan

N. Okonjo- Hiromichi

David

Gabriela

Rajiv

Barilla

Burrow

Nabarro

Ilian Ramos

Shah

Emna lahmer

IwealaPascal Lamy

Rose MarcarioMizuno

Emmanuel Faber, Chairman and CEO of Danone, said : “ At a time when companies unquestionably demonstrate their contribution to the whole of society every day and collective action is essential, I am delighted that all of our shareholders have made the choice today that Danone becomes the first Mission Listed company . I am convinced that the more our company demonstrates that it is at the service of all of its stakeholders, the more it will create value and be recognized for that.

I am deeply grateful to each and every one of the members of the newly created Mission Committee for agreeing to bring their expertise to supervise and support Danone’s progress in social, societal and environmental matters. Never before has this been done on the scale at which we will achieve this together.

For more information, please contact:

Communication: +33 1 44 35 20 75 – Investor Relations: +33 1 44 35 20 76

Danone: 17, Boulevard Haussmann, 75009 Paris, France

Finally and above all, thank you to all of our shareholders – including the tens of thousands of my Danone colleagues, who are also shareholders, and who voted today with our individual shareholders and our largest institutional shareholders – for their unanimous support. A taboo was broken today. And your decision is a first. We are honored by the trust you have placed in our long-term ambition at Danone to build the most attractive food player in the sector, ahead of its time to meet the expectations of communities and users of our brands and civil society , and the economic challenges of its century. “

The general meeting, which was held exceptionally behind closed doors given the current health context and in which 63.5% of Danone’s share capital was represented, also approved all the other resolutions submitted to it.

In particular, it set the cash dividend for the 2019 financial year at € 2.10 per share. This dividend will be detached from the share on July 14 and paid out from July 16. It also approved the renewal of the directorships of Gregg Engles, Gaëlle Olivier, Isabelle Seillier, Jean-Michel Severino, and Lionel Zinsou-Derlin for a period of three years.

On this occasion, an update on the operational and financial situation of Danone to date was made. After China at the start of the year, Europe and North America from March, new countries have seen their health and economic situation deteriorate since April, notably in Latin America, Indonesia and in Africa, affected by the closure of local shops and the confinement of consumers. In Europe and North America, activity is slowing given the destocking of precautionary purchases observed at the end of the first quarter, especially in Specialized Nutrition, and the full effect in the second quarter of the closure of out-of-home circuits where sales are down by around -50% to which the Water cluster is particularly exposed. Water sales are therefore expected to fall by around -30% overall in the second quarter.

The additional direct costs to maintain business continuity, estimated at around 100 million euros in the first half (health, industrial and logistics costs directly linked to covid-19), will have an impact on the current operating margin in the first half . Actions to preserve cash are continuing and the two bond issues of 800 million euros each carried out in the first half on very good terms have further strengthened Danone’s balance sheet and liquidity position. The company will provide more information when its first half results are published on July 30.

Danone’s medium and long-term prospects remain solid, while the health context of the coronavirus pandemic confirms the relevance of its strategic choices around health-oriented categories, local food models, and the promotion of regenerative agricultural practices. .

The presentation made at the General Meeting is available on the Danone website (www.danone.com). The results of the votes and the entire broadcast of the general meeting will be available there this evening.

Mission Committee Members

Guido BARILLA

Mr. Guido Barilla is currently Chairman of the Board of Directors of Barilla, whose international expansion he has supervised for several years. Since 2018, he has been an independent member within of the Danone Board of Directors.

For more information, please contact:

Communication: +33 1 44 35 20 75 – Investor Relations: +33 1 44 35 20 76

Danone: 17, Boulevard Haussmann, 75009 Paris, France

Sharan BURROW

Sharan Burrow was the first woman to be the Secretary General of the International Trade Union Confederation (ITUC) – which represents 200 million workers in 163 countries and territories and has 332 national organizations – a position she has held since 2010. She is also the former president of the Australian Council of Trade Unions (ACTU, 2000-2010).

Ngozi OKONJO-IWEALA

Ms. Nogozi Okonjo-Iweala is an economist and expert in international development. Former Executive Director of the World Bank and Minister of Finance of Nigeria, she is today the African Union Special Envoy against COVID-19 and President of the Global Alliance for vaccines and immunization.

Emna LAHMER

Ms. Emna Lahmer is an employee at Danone where she currently holds the position of team leader for indirect purchasing. Between 2016 and 2019, she was a works council delegate to the Danone board of directors.

Pascal LAMY

Former Director General of the World Trade Organization between 2005 and 2013 and former European Trade Commissioner, Mr. Pascal Lamy is currently President of the Paris Peace Forum, President of the World Committee on Tourism Ethics and he coordinates the Institutes Jacques Delors in Paris, Berlin and Brussels. He is also president of Brunswick Europe.

Rose MARCARIO (President)

Ms. Rose Marcario spent 15 years in the private equity sector before joining the outdoor clothing company Patagonia in 2008 where she held the position of Chief Financial Officer until 2013, then that of President and Chief Executive Officer in 2014 to 2020.

Hiromichi MIZUNO

Mr. Hiromichi Mizuno is a director within the PRI (Principles for Responsible Investment) network and special advisor to the Japanese government on innovation and “green” finance issues. Until recently, he served as Managing Director and Chief Investment Officer of GPIF, the Japanese government’s pension investment fund. In April 2020, he joined the Tesla board of directors. He is a member of the Advisory Committee of the CFA Institute Future of Finance and of the Global Future Council within the World Economic Forum. He intervenes as Visiting Fellow Harvard, Oxford Said and Cambridge Judge universities Business School.

David NABARRO

Mr. David Nabarro is a medical doctor, international civil servant and diplomat. He is now Strategy Director of 4SD, a social enterprise based in Switzerland, and co-director ofInstitute of Global Health Innovation at Imperial College in the UK. He was previously special advisor to the Secretary General of the United Nations on the 2030 agenda for the Goals of Sustainable development and climate change.

Gabriela Ilian RAMOS

From 1er July 2020, Ms. Gabriela Ramos will assume the post of Assistant Director-General of UNESCO in charge of human and social sciences. She is currently chief of staff of the OECD and Sherpa to the G20, responsible for the contributions of the OECD to the global agenda, in particular to the G20, the G7 and APEC. She was also in charge of the inclusive growth agenda and, in 2019, contributed to the launch of the “Business for Inclusive Growth” platform (B4IG), supported by the French Presidency of the G7.

For more information, please contact:

Communication: +33 1 44 35 20 75 – Investor Relations: +33 1 44 35 20 76

Danone: 17, Boulevard Haussmann, 75009 Paris, France

Rajiv SHAH

A former US government official, doctor and health economist, Mr. Rajiv Shah is currently President of the Rockefeller Foundation. It was previously on the 16thth administrator of the United States Agency for International Development (USAID) between 2010 and 2015.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements regarding Danone. In certain cases, you can identify these forward-looking statements using forward-looking terms such as “estimate”, “expect”, “hope”, “anticipate”, “expect”, “plan”, “prospects”, “objective “,” Plan “,” intend to “,” foresee “,” envisage “,” probable “,” could “,” should “,” target “,” aim “,” will “,” believe “, “Continue”, “certain” and “convinced”, the negative or plural form of these words and other terms that have a similar meaning. The forward-looking statements in this document contain, but are not limited to, predictions regarding Danone’s activities, operations, directions, performance and future results.

Although Danone believes that these statements are based on reasonable assumptions, they involve numerous risks and uncertainties, and consequently the actual results may differ significantly from the results anticipated in these forward-looking statements. For a more detailed description of these risks and uncertainties, please refer to Danone’s universal registration document (section “Risk factors”, the latest version of which is available on www.danone.com.

Subject to regulatory requirements, Danone does not undertake to publicly update or revise any of these forward-looking statements. This document does not constitute an offer to sell or a solicitation of an offer to buy Danone securities.

For more information, please contact:

Communication: +33 1 44 35 20 75 – Investor Relations: +33 1 44 35 20 76

Danone: 17, Boulevard Haussmann, 75009 Paris, France