Integrated Annual Report FY25

Governance

1 Information Systems & Cybersecurity

Information systems disruption and failure or cyber intrusion compromising systems, websites and data integrity.

2Loss of major industrial site/ strategic inventory

Resulting in significant business disruption and unavailability of certain key brands in Pernod Ricard markets.

Toxic contamination

Resulting in major consequences for consumers, and commercial and reputational risk for the brands.

3Changes in market environment

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.

Climate change

Global warming’s impact on our activities.

Geopolitical and macroeconomic instability

Risk of a broad geopolitical disturbance or the resurgence of a macroeconomic crisis.

4Regulatory constraints

Strengthening of legislation resulting in new restrictions or constraints regarding advertising and distribution of alcoholic beverages or S&R.

Taxes and levies

Changes in tax regulations or in indirect taxation, in particular customs duties and excise taxes on alcoholic beverages, which could have a material impact on the Group.

5Breach of compliance requirements

Failing to meet with compliance requirements and business ethics, which can lead to negative consequences for the Company.

Supply chain disruptions

Major unpredictable event complexifying the access to markets; key supplier failure; unavailability of raw material.

Disruption of demand and consumer behaviour

Demand and consumer behaviours changing at a fast pace in terms of expectations and trends (product categories, distribution channels, consumer experiences).

Health and Safety

Severe accident involving an employee or contractor as a result of a criminal or industrial incident.

Negative media coverage

Impacting the image of the Group and/ or its key brands.

6Illicit trade and parallel markets

Parallel trade, counterfeit and look-alike products damaging brand image and impacting sales.

Misuse of Artificial Intelligence

Resulting from unawareness, lack of understanding, poor data quality ingested, including ethical concerns like disinformation and misinformation.

7Financial risks (FX, interest rates, credit, pensions)

Unfavourable evolution of exchange and interest rates or the failure of customers leading to non-collection of receivables. Unanticipated increase of pension fund’s deficits and/or cash contributions.

Fraud

Resulting in financial losses or the leakage of sensitive information.

Major litigation

Against Pernod Ricard, its affiliates, its brands or its management.

Social tension

Resulting from increased divisions and conflicts within the Society or from difficult interactions with employee representative bodies.

Talent management

Inability to attract, develop and retain talent.

8Environmental damage

Environmental damage caused by our activities.

Product quality issues

Leading to customer discontent and brand image deterioration.