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The Board of Directors of Lagardère SA considers a project to confirm the autonomy of the Lagardère Group's radio division

At its meeting on Friday, May 6, 2022, the Board of Directors of Lagardère SA reiterated its commitment to maintaining the integrity of the Lagardère Group, its durability, and its managerial continuity.

As part of this commitment, the Board of Directors decided to consider a project aimed at confirming the autonomy of the Group's radio division (Europe 1, Virgin Radio, RFM), through a reorganization of its ownership and governance.

Among the possible options considered, which must in any event be financially neutral for the Lagardère Group, one would be to consolidate the radio activities under a partnership limited by shares (société en commandite par actions, previous legal form of Lagardère SA), the limited partners of which would be companies of the Lagardère Group, and the general and managing partner of which would be Mr. Arnaud Lagardère himself, who would thus assume control.

At the end of the project study, the Board of Directors will meet again to make a decision by the summer of 2022. Of course, the realization of such a reorganization would be submitted to the employee representative bodies as well as to the competent authorities for their possible authorizations or approvals.