Danone // 2020 Universal Registration Document

3 Business highlights in 2020 and outlook for 2021 3.1 Business highlights in 2020 41 DANONE UNIVERSAL REGISTRATION DOCUMENT 2020 • on December 14, 2020, Danone announced several decisions related to its Boardʼs composition and organization to reinforce the governance of the Company, including: • create a new Boardʼs Committee, the Strategy and Transfor- mation Committee, starting under the chairmanship of Benoît POTIER; • appoint Cécile CABANIS as Vice-Chair of the Board. OTHER ACTIVITIES IN 2020 Acquisitions, disposal of shares in companies in fully consolidated companies The Group acquired control of several companies, notably in the specialized nutrition activity in China and in the waters activity in the UK. None of these interests is material. Main changes in investments in associates Ownership as of December 31 (in percentage) Reporting entity Country Transaction date (a) 2019 2020 Main companies accounted for using the equity method for the first time during 2020 – – – – – Main associates with changes in ownership percentage – – – – – Main companies no longer accounted for using the equity method as of December 31 Yakult EDP Japan October 6.6% – (a) Month in the 2020 fiscal year. 2020 sustainability footprint Environmental footprint See section 5.3 Preserve and renew the planet’s resources . Inclusive diversity and B Corp™ performance See sections 5.1 An integrated approach of sustainable business model and 5.4 Building the future with Danone employees . Acquisition of Follow Your Heart Danone announced, on February 19, 2021, it has entered into an agreement to acquire 100% of the shares of Follow Your Heart, a pioneering leader in plant-based foods. Founded tomeet the growing demand for plant-based products, Follow Your Heart holds leading positions in the plant-based cheese and mayonnaise categories, in addition to several other delicious plant-based products. As part of the Danone family, Follow Your Heart will be able to accelerate growth nationally and internationally alongside some of Danone’s best-known plant-based brands, including Alpro , Silk and So Delicious . This partnership will enable Danone to enhance and expand its plant-based offering, including cheese, while contributing to its goal of increasing plant-based sales worldwide from more than €2 billion in 2020 to €5 billion by 2025. Governance and financial statements See sections 6.1 Governance Bodies, 6.2 Positions and responsibilities of the Directors , and 3.4 Condensed consolidated balance sheet.