Danone // 2020 Universal Registration Document

KEY FIGURES 2 1 INFORMATION ABOUT THE ISSUER AND INFORMATION ON THE UNIVERSAL REGISTRATION DOCUMENT 5 1.1 I nformation about the Issuer 6 1.2 I nformation about the Universal Registration Document 7 1.3 P erson responsible for the Universal Registration Document 9 2 OVERVIEW OF ACTIVITIES, RISK FACTORS 11 2.1 P resentation of Danone 12 2.2 S trategic priorities 13 2.3 D escription and strategy of the Reporting Entities 15 2.4 O ther elements related to Danone’s activity and organization 17 2.5 S implified organizational chart as of December 31, 2020 20 2.6 R isk factors 20 2.7 C ontrol environment 33 2.8 I nsurance and risk coverage 37 3 BUSINESS HIGHLIGHTS IN 2020 AND OUTLOOK FOR 2021 39 3.1 B usiness highlights in 2020 40 3.2 C onsolidated net income review 43 3.3 F ree cash flow 49 3.4 B alance sheet and financial security review 51 3.5 O utlook 2021 55 3.6 F inancial indicators not defined in IFRS 56 3.7 D ocuments available to the public 56 4 FINANCIAL STATEMENTS 59 4.1 C onsolidated financial statements and notes to the consolidated financial statements 60 4.2 F inancial statements of Danone SA, the parent company 119 4.3 I nformation on payment terms granted to suppliers and customers of the parent company, Danone SA 140 4.4 I nformation originating from third parties, expert opinions and declarations of interest 140 5 SOCIAL, SOCIETAL AND ENVIRONMENTAL RESPONSIBILITY 143 5.1 A n integrated approach of sustainable business model 145 5.2 O ffering safe, healthy products 151 5.3 P reserve and renew the planet ’s resources 157 5.4 B uilding the future with Danone employees 173 5.5 Promoting sustainable, inclusive growth with suppliers 183 5.6 D anone’s social innovation Funds 189 5.7 V igilance plan 190 5.8 M ethodology note 194 5.9 R eport by one of the Statutory Auditors, appointed as an independent third party, on the consolidated non-financial information statement included in the management report 201 6 CORPORATE GOVERNANCE 207 6.1 G overnance bodies 208 6.2 P ositions and responsibilities of the Directors 232 6.3 C ompensation and benefits of governance bodies 245 6.4 D etailed information on long-term compensation plans 262 6.5 D ANONE shares held by the members of the Board of Directors and the Executive Committee 288 6.6 R elated party agreements 290 7 SHARE CAPITAL AND OWNERSHIP 293 7.1 S hare capital of the company 294 7.2 T reasury shares held by the Company and its subsidiaries 294 7.3 A uthorizations to issue securities giving access to the share capital 296 7.4 F inancial instruments not representing share capital 298 7.5 D ividends paid by the Company 298 7.6 S hareholders’ Meeting, voting rights 299 7.7 C rossing of thresholds, shares and share sales 301 7.8 S hare ownership structure of the Company as of December 31, 2020 and significant changes over the past three years 301 7.9 M arket for the Company’s shares 303 7.10 F actors that might have an impact in the event of a public tender offer 304 7.11 C hange of control 305 APPENDIX 307 Cross-reference tables 308