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LVMH 2023 . Governance

Work done by the Board in 2023

Finance• Approval of the annual and interim parent company and consolidated financial statements.

• Review of quarterly business activity.

• Decisions related to the Group’s overall strategic direction.

• Review of the budget.

• Implementation of the authorization to buy back shares.

• Reduction of the Company’s share capital by retiring treasury shares and corresponding

amendment to the Bylaws.

Governance• Appointment of Natacha Valla as (i) a member of the Governance & Compensation Committee

to replace Yves-Thibault de Silguy and (ii) Chairman of said committee to replace Marie-Josée

Kravis, who remained a member.

• Amendment of the Charter of the Board of Directors to (i) specify the Board of Directors’

duties as well as those of the Lead Director with regard to workforce-related, environmental

and climate-related matters; (ii) provide the option of holding joint meetings or working sessions

between the different committees; and (iii) give Directors the option, if they consider it

necessary, of having additional training on specific features of the Company, its business lines,

its business sector and its priorities concerning environmental and social responsibility,

particularly with regard to climate issues.

• Amendment of the Rules of Procedure of the three committees, in particular to (i) provide

the option of holding joint meetings or working sessions between the different committees;

(ii) introduce the option of commissioning outside technical studies; (iii) specify the procedure

for selecting future Independent Directors; (iv) offer the possibility for the Chief Executive

Officer and Group Managing Director to participate in the work of the Governance &

Compensation Committee relating to appointments and reappointments; and (v) specify

the role of the Ethics & Sustainable Development Committee with regard to workforce-

related, environmental and climate-related matters.

• Determining the compensation of senior executive officers.

• Setting up bonus share plans.

• Evaluating the Board’s capacity to meet the expectations of shareholders, reviewing its

membership, organization and procedures and those of its three committees.

CSR• Reviewing the main actions taken in 2023 under the LIFE 360 program and the outlook for

achieving the targets set for 2026 and 2030.

• Reviewing the political and legislative outlook with regard to environmental, workforce-

related and governance-related matters in France and Europe.

• Reviewing issues concerning (i) personal data protection, (ii) ethics and compliance (com-

bating corruption and money laundering, compliance with international sanctions and

respect for human rights).

Specific training on nonfinancial reporting issues in particular the impact of the Corporate

Sustainability Reporting Directive CSRD