Danone // 2020 Universal Registration Document

7 Share capital and ownership 7.3 Authorizations to issue securities giving access to the share capital 297 DANONE UNIVERSAL REGISTRATION DOCUMENT 2020 CAPITAL INCREASES RESERVED FOR EMPLOYEES Danone regularly carries out capital increases reserved for Danone employees in France participating in a company savings plan (through a temporary fund later merged into the “Fonds Danone” company investment fund). The decision to carry out these capital increases is made, in principle annually and under the authorization granted by the Shareholders’ Meeting, by the Board of Directors at its February meeting. They are then carried out in May or June. In 2020 the capital increase reserved for Danone employees in France participating in a company savings plan, initially scheduled for May 2020, was postponed to July 22, 2020 due to the postponement of Danone’s Shareholders’ Meeting on June 26, 2020; it represented a total amount of €29,525,315.82 (and a nominal amount of €127,198.50). Moreover, since 2019 Danone also carries out capital increases reserved for employees of foreign companies, under the autho- rization granted by the Shareholders’ Meeting (“One Person, One Voice, One Share” program). This authorization, used in 2019, was not used in 2020. The Board of Directors of February 18, 2021 decided to implement a new capital increase reserved for employee members of a Company savings plan for a maximum total amount of subscription of €80 million ( i.e. 1,831,502 shares). In addition, a new capital increase reserved for employees of foreign companies may be decided, sub- ject to the approval of the Shareholders’ Meeting of April 29, 2021. FINANCIAL AUTHORIZATIONS SUBJECT TO APPROVAL BY THE SHAREHOLDERS’ MEETING The Shareholders’ Meeting of April 29, 2021 will be asked to renew the following authorizations for shares and securities, with and without preferential subscription right, based on the following conditions: Authorized limits Authorization date Expiration date Ordinary shares (nominal amount of ordinary shares issuance) Debt securities Capital increase with preferential subscription right for existing shareholders April 29, 2021 June 29, 2023 €60 million (approximately 35% (a) of the share capital) Common limit of €2 billion Capital increase without preferential subscription right but with a priority period for shareholders April 29, 2021 June 29, 2023 €17 million (approximately 10% (a) of the share capital) Overallotments (as a % of the initial issuance) April 29, 2021 June 29, 2023 15% Public exchange offer initiated by the Company April 29, 2021 June 29, 2023 €17 million (approximately 10% (a) of the share capital) Contributions in kind April 29, 2021 June 29, 2023 10% of the share capital Capital increase through incorporation of reserves, earnings additional paid-in capital and other amounts April 29, 2021 June 29, 2023 €43 million (approximately 25% (a) of the share capital) Capital increase reserve for employee members of a company savings plan April 29, 2021 June 29, 2023 €3.4 million (approximately 2% (a) of the share capital) attributable to the common maximum limit of €17 million along with the aforementioned dilutive issues Capital increase reserved for employees of foreign companies April 29, 2021 October 29, 2022 €1.7 million (approximately 1% (a) of the share capital) attributable to the 2% maximum limit authorized for capital increases reserved for employees participating in a company savings plan Allocation of Group performance shares April 29, 2021 December 31, 2021 0.2% of the share capital at the close of the Shareholders’ Meeting, attributable to the common maximum limit of €17 million along with the aforementioned dilutive issues (a) The percentage of share capital is calculated for indicative purposes only, based on the share capital as of December 31, 2020.