Sébastien Bazin
Group Chairman, CEO & Member of Management Board

Ladies and gentlemen, good morning, and thank you so much for joining us for this year's AGM concerning the results for the year 2025. We have a lot to talk about. But beforehand, I'd like to say a few words to you about the company's business. I propose that we take a look at what's been happening over the last 12 months while the last 12 months of 2025 and how better to do that than by video.

[Presentation]

Sébastien Bazin
Group Chairman, CEO & Member of Management Board

Besma, speaking of emotions, could you tell us about the legal formalities for today?

Besma Boumaza
Group General Counsel, Board Secretary & Member of Management Board

Thank you, Sebastien. Ladies and gentlemen, dear shareholders, good morning, and welcome to today's AGM. I'm going to begin with the Bureau, which will be comprised of Sebastien Bazin, who will chair the AGM; Ugo Arzani, who representing Qatar Investment Authority; and David Manfield representing Kingdom Hotel Limited. The gentlemen will act as tellers for today's AGM. This is a role that is played by the shareholders present representing either by themselves or in proxies, the largest number of shares.

I will be acting as Secretary for today's AGM. As is the case every year, this AGM is webcast. It will also be available on replay on our website. The last 30 minutes of today's AGM will be devoted to questions and answers, including questions sent in by shareholders before the AGM as well