
Share ownership structure
Share ownership structure as at 17 May 2011(*)

(*)After formation of whole ordinary shares by combination of voting right certificates and investment certificates
(1) Agreement between Rothschild Concordia SAS, its associates (David de Rothschild Branch, Eric de Rothschild Branch, English branch of the Rothschild family) and the other members of the Rothschild family (Edouard de Rothschild Branch, Philippe de Nicolay, NMR - assumed concert - and the Eranda foundation) disclosed by the French financial markets regulator, the AMF, on 25 January 2008 (Decision and Information Notice No. 208C0180).
(2) 668,280 treasury shares including 111,750 shares allocated to a liquidity contract and 145,040 investment certificicates.
(3) Including 145,040 investment certificates
(4) After exclusion of the voting rights attached to shares held by Paris Orléans and NMR

