As a result of its listing for trading on a regulated market in France, the Company is subject to the regulations summarised below.

Pursuant to Articles 241−1 to 241−6 of the AMF General Regulations, the purchase by a company of its own shares, in principle, requires the publication of the description of the share-buy programme. Such description must published prior to the implementation of the share buy-back programme.

Under Articles 631−1 to 631−4 of the AMF General Regulations, a company may not trade in its own shares for the purpose of manipulating the market. Articles 631−5 and 631−6 of the AMF General Regulations also define the conditions for a company’s trading in its own shares to be valid.

After purchasing its own shares, the Company is required to disclose, within at least seven trading days, specified information regarding such purchases by way of a release which is available to the public on the websites of the Company and the AMF. Additionally, the Company must notably report to the AMF, on at least a monthly basis, information concerning the cancellation of such repurchased shares.