Danone // 2020 Universal Registration Document

corporate governance 6.1 Governance bodies DANONE UNIVERSAL REGISTRATION DOCUMENT 2020 208 In accordance with Articles L. 225-37, L. 225-37-4 and L. 22-10-10 of the French Commercial Code, the following section includes the Report of the Board of Directors on corporate governance, the composition of the Board of Directors and the conditions for preparation and organization of the Board’s work (section 6.1 Governance Bodies). In accordance with Article L. 22-10-10 of the French Commercial Code, the Company affirms that it voluntarily adheres to the corporate governance Code for listed companies amended in January 2020 (AFEP-MEDEF Code). This report, inspired in particular by the comments gathered through a dialogue with Danone’s shareholders throughout the year, was prepared following various efforts made by the Legal Department working closely with the Human Resources, Finance and Internal Control departments. It was initially presented to the Governance Committee on February 4, 2021 and then approved by the Board of Directors on February 18, 2021. 6.1 GOVERNANCE BODIES Contents Board of Directors 209 Board of Directors in 2020 209 Composition and organization of the Board of Directors 210 Guiding principles for the composition of the Board of Directors and its Committees 213 Change in the composition of the Board of Directors and Committees 218 Operation of the Board of Directors 220 Activity and work of the Board of Directors 222 Assessment 224 Audit Committee 225 Composition as of December 31, 2020 225 Duties 226 Activity and work of the Audit Committee 226 Governance Committee 227 Composition as of December 31, 2020 227 Duties 227 Activity and work of the Governance Committee 227 Engagement Committee (formerly the Purpose & Engagement Committee) 228 Composition as of December 31, 2020 228 Duties 228 Activity and work of the Engagement Committee 228 Strategy & Transformation Committee 229 Executive Committee 229 Role 229 Composition as of March 15, 2021: 12 members 230 Application of AFEP-MEDEF corporate governance code for listed companies 231