Integrated Annual Report FY23

1

1. Loss of major industrial site/strategic inventory (Impacts of risks: High, Likelihood of occurrence: Low)
   Resulting in significant business disruption and unavailability of certain key brands in Pernod Ricard markets.
2. Toxic contamination (Impacts of risks: High, Likelihood of occurrence: Low)
   Resulting in major consequences for consumers and commercial and reputational risk for the brands.

2

1. Geopolitical and macroeconomic instability (Impacts of risks: Medium - High, Likelihood of occurrence: High)
   Risk of a broad geopolitical disturbance or the resurgence of a macroeconomic crisis.
2. Pressure on prices and margins (Impacts of risks: Medium - High, Likelihood of occurrence: High)
   Risk of margin erosion due to intensified pressure from retailers, fierce competition and potential increase in terms of cost of goods sold and logistics expenses.
3. Supply chain disruptions (Impacts of risks: Medium - High, Likelihood of occurrence: High)
   Major unpredictable event complexifying the access to markets; key supplier failure; unavailability of raw material.
4. Talent management (Impacts of risks: Medium - High, Likelihood of occurrence: High)
   Inability to attract, develop and retain talent.
5. Climate change and environmental damage (Impacts of risks: Medium - High, Likelihood of occurrence: High)
   Global warming impact on our activities and environmental damage caused by our activities.
6. Regulatory risks (Impacts of risks: Medium - High, Likelihood of occurrence: High)
   Triggering price increases and/or higher costs for the Company or even administrative and criminal penalties.
7. Anti-alcohol environment and regulations (Impacts of risks: Medium - High, Likelihood of occurrence: High)
   Strengthening of legislation resulting in new restrictions or constraints regarding advertising and distribution of alcoholic beverages.

3

1. Major cyberattack (Impacts of risks: Medium - High, Likelihood of occurrence: Medium)
   Cyber intrusion compromising systems, websites and data integrity.

4

1. Fast-changing consumer behaviours (Impacts of risks: Medium - Low, Likelihood of occurrence: High)
   Consumer behaviours changing at a fast pace in terms of expectations and trends (product categories, distribution channels, consumer experiences).
2. Negative media coverage (Impacts of risks: Medium - Low, Likelihood of occurrence: High)
   Impacting the image of the Group and/or its key brands.
3. Financial risks (FX, interest rates, credit) (Impacts of risks: Medium - Low, Likelihood of occurrence: High)
   Unfavourable evolution of exchange and interest rates or the failure of customers leading to non-collection of receivables.

5

1. Risks related to S&R challenges (Impacts of risks: Medium - Low, Likelihood of occurrence: Medium)
   Good Times from a Good Place, 2030 S&R roadmap made up of four pillars for which qualitative and quantitative objectives have been identified. All of these commitments represent real challenges that the Group is intent upon tackling.
2. Product quality issues (Impacts of risks: Medium - Low, Likelihood of occurrence: Medium)
   Leading to customer discontent and brand image deterioration.
3. Health & Safety (Impacts of risks: Medium - Low, Likelihood of occurrence: Medium)
   Severe accident involving an employee or contractor as a result of a criminal or industrial incident.

6

1. Counterfeiting/IP rights (Impacts of risks: Moderate, Likelihood of occurrence: High)
   Counterfeit and look-alike products damaging brand image and impacting sales.

7

1. Fraud (Impacts of risks: Moderate, Likelihood of occurrence: Medium)
   Resulting in financial losses or the leakage of sensitive information.
2. Major litigation (Impacts of risks: Moderate, Likelihood of occurrence: Medium)
   Against Pernod Ricard, its affiliates, its brands or its management.

8

1. Pensions (Impacts of risks: Moderate, Likelihood of occurrence: Low)
   Unanticipated increase of pension fund’s deficits and/ or cash contributions.