Vinci Sa Act

Ladies and gentlemen, dear shareholders, good morning. Welcome. Welcome to Vinci's annual general meeting. It's such a pleasure to see you all again, year after year again. As you can see, we have a broader stage here. As a result of the succession plan, last year, you elected Pierre Anjolras as Chief Executive Officer. He was appointed as such as of May 1st, 2025. And therefore, it is Pierre Anjolras who will present the group's performance and outlook alongside Christian Labeyrie, whom you know very well. This will be Christian's final AGM. So next year you will meet his successor, Thierry Mirville. He is with us today. Christian has been the group's chief financial officer since 1999. And I know that we've changed the venues from time to time, but he has stood at this podium 27 times for our AGMs. This must be a CAC 40. and that gives you a sense of the pivotal role that he has played in Vinci's remarkable journey. So I think he deserves a warm round of applause. We also have Patrick Richard with us, General Counsel for 25 years, Secretary to the Board and to the AGM since 2017. And for him as well, this will be the last of a long series of 20 AGMs. If all goes well, Sophie Desbrouquens, who is also here with us today, will be replacing Patrick in a couple of months. Once again, Patrick, many thanks for your tireless and invaluable contributions. All of these transitions are taking place in a natural and carefully considered way. Pierre and I talk constantly. We have a constant focus on continuity. And in just a few moments you will see that your group remains true to itself. It has the same strategic vinci, the same way of operating. We call it the vinci way and above all we have the same discipline and commitment to all-around performance, combining economic, social, and environmental results. Now, we're never going to rest on our laurels, but we do owe our success first and foremost to our nearly 300,000 colleagues across 4,300 business units. And we owe our success as well to the strength and cohesion of the executive committee, one that Pierre has significantly reshaped in recent months, and whose members are all with us today. And finally, we owe our success to the quality of our corporate governance. The members of your board of directors present today include Annette Mesmer. our new lead director. Let us also welcome Carlos Aguilar, Yannick Assouad, Benoit Bazin, Carla Bertocco Trindade, Caroline Grégoire Sainte-Marie, Claude Laruelle, Marie-Christine Lombard, Renée Medori, Roberto Migliardi, Frédéric Nougaret, Alain Saïd, as well as Maria Victoria Zingoni. After 12 years of service on the board, Marie-Christine will be stepping down at the end of this AGM. And I would like to thank her warmly for her commitment. She has made an outstanding contribution to your group. Roberto Migliardi is the board member representing employees and he will also be stepping down at the end of this AGM and I would like to thank him as well for his valuable contribution to the group. He will be replaced by Nelson Martino Gallego, a new representative appointed by the group's European Works Council when the EWC last met. So he's a Thank you, Nelson. I suggest we formally open the meeting. This combined shareholders meeting is being held on first notice. All required legal notices relating to the convening shareholders have been duly published within the applicable timeframes. The financial statements, reports, and all the documents required to be made available to shareholders have been provided in accordance with the applicable legal and regulatory provisions. These documents are available in a huge trunk that Patrick schleps around at every AGM. So the documents are available here on the table. I would ask you to take formal note of this. We will now proceed with the appointment of the members of the Bureau, verify that a quorum is present, and review the agenda for today's AGM. Regarding the appointment of the members of the Bureau, I will act as Chair of the Bureau. As for the scrutineers, I note that among the shareholders present are represented Frédéric Nougaret, the Chairman of the Supervisory Board of the Castor Employee Fund, and Frédéric Rosamond, representing a Monday, are among those holding the largest number of voting rights, and I would therefore ask whether they are willing to act as scrutineers. I propose that Patrick Richard act as Secretary of the meeting. With regard to the quorum, I would like to note that Vinci's share capital currently consists of 582,257,305 shares. From this total, we must deduct the shares held by Vinci itself, namely 28,718,953 shares, in order to determine the number of shares carrying voting rights. I would also remind you that the company's bylaws do not provide for double voting rights. The number of shares held by shareholders present represented having voted by proxy is 503 million. Therefore, the quorum is 70.72%, which is... A new record for our group, so this is an excellent quorum. And we're happy with it. This exceeds the thresholds of 20% and 25% required for ordinary and extraordinary general meetings held on first notice. The meeting is therefore duly constituted and may validly deliberate. Let me also remind you that resolutions under the ordinary part are adopted by a simple majority, while others under the extraordinary part require a two-thirds majority. The agenda for this meeting is already known to you. It has been published and appears on page 5 of the notice meeting. It is also displayed on the screen, so I will not read it out in full. Finally, I would inform you that the company has not received any requests to add draft resolutions and new items to the agenda, and that the Social and Economic Committee has not exercised its statutory right to submit draft resolutions. I suggest, lastly, that we do not read the full Board of Directors report. It's available in the 2025 URD, which is available. If you don't have it yet, it's available in the lobby of Sal Playel. You can also find it on the company's website. So, how shall we proceed? Well, as usual, in a few seconds I will hand over to Pierre Anjolras and he will walk you through the key highlights and overall performance of 2025 and then Christian Labeyrie will present the financial performance of each division and of the group as a whole. Then Pierre Anjolras will return to outline the outlook for 2026 and this will be followed by presentations on the work of the board's We will then hear from our statutory auditors and these presentations will be followed by a Q&A session. And finally, we will vote on the resolutions. Pierre, over to you. Thank you, Xavier. Good morning, everyone. I too would like to welcome you to the 2026 Annual General Meeting. Let's watch a quick video on the highlights from the past 12 months.

Vinci is a world leader in concessions, energy solutions and construction, operating in more than 120 countries. We aim for all-round performance Combining social, environmental and economic performance, which are interdependent and inseparable. At Vinci, our people are our most valuable asset. Our 294,000 employees in 4,300 business units are united by the same aim, to forge a sustainable world. In an increasingly uncertain world, we stand together with an optimistic but also humble attitude around compelling values. Autonomy. We foster social progress as a humanist group that stands for inclusion and solidarity. Safety is the group's number one priority for everyone, our employees, Temporary staff, subcontractors and customers.

You are going to tell me what is the relationship between security and mental health. When a collaborator is not focused on the tasks he has to do, he will individually put himself in danger. He can also put his teams, his colleagues in danger.