C INTERNAL CONTROL PROCEDURES

C.1. System of Controls

The Group's internal control system is centralised. Internal control structures and procedures are defined on behalf of the Group by the central departments at Group Head Office.

Since 2010, the Group migrated its main applications to an integrated system. This work allowed and update of the main procedures of the Group.

The Group has decided to create a function dedicated to continuous improvement. The aim is to identify company processes that do not operate satisfactorily. A manager is appointed for each process. He or she set up a working group and recommend improvement solutions with a detailed timetable. Once the solutioin has been adopted, it needs to be documented and included in the procedures database to put its application on a permanent footing.

Legal oversight

As part of the Group Finance department, the Legal Affairs department centralises and coordinates all legal aspects. The Legal Affairs department oversees the legal secretariat of all Group subsidiaries. Intellectual and industrial property is a major issue for the Group and it is closely monitored and updated internally, with the support of external legal practices.

Budget approach and financial management reporting

The Group's budgetary approach is broken down on a departmental basis and is a key component in the control of financial activities. The General Management’s strategic choices are set out in an annual Business Plan and are then cascaded to all staff. The Group’s budgetary approach is the main means of giving clear operational expression to the strategic directions.

The Group’s Management Control department is tasked with organising the budget process and ensuring that operational staff is helped when drawing up their annual budgets, monitoring them and implementing the planned improvement initiatives. It also acts as a coordinating and centralisation agency and one that ensures consistency in budget and management reporting.

Regular budget monitoring by fiscal can help identify any mismatches with the planned activity levels or spending and implement the necessary adjustments.

C.2. Control and management bodies The Supervisory Board

The Supervisory Board exercises control over the management of the Laurent-Perrier Group based on the reports of the Management Board forwarded to it via the Liaison Committee, and on the work of the Audit and Financial Communication Committee.

Each year, during the last quarter of the financial year, an annual plan is drawn up to set targets and quantify the major strategic options. Once this plan has been drawn up at the level of each entity, it is used as a yardstick for the following year for measuring the Company's performance and defining any necessary remedial actions.

The Supervisory Board has been informed of the main thrust of risk management policy, and of the measures to implement in order to strengthen the role of the Audit Committee whose remit has been extended by current regulations to cover:

- the effectiveness of internal control mechanisms,

- control over financial information and control over procedures to draw up the consolidated accounts.

The Management Board

The Management Board exercises control over risk management based on existing reporting, and in particular on the work of the Finance, Accounts and Financial Control departments, as well as by examining investment and spending decisions.

The Management Board approves the budget and endorses all investments and significant contractual undertakings. Investment proposals are submitted to the Management Board by departments for approval.

The Management Board is regularly informed of the main risks identified and the means employed to mitigate them.

C.3. Internal control procedures for drawing up and processing accounting and financial information

Statutory consolidation

A balance sheet, profit and loss statement, and consolidated cash-flow statement are generated and published twice yearly.

The Laurent-Perrier Group's Accounts Department draws up a calendar of tasks and specifies the methods for preparing the consolidation documents to be forwarded to the Accounts Departments or to the different entities.

In particular, inventories are checked by physical stock-taking at the end of each accounting period and reconciliations are also carried out between book values and those declared to the French customs authorities as required by regulations.

Precise procedures also exist to gauge the provisions needed to cover identified risks and notably non- recovery risks in connection with certain trade receivables.

Every month, the accounts are closed and analysed by the Management Control Department to ascertain that management indicators and accounting data are consistent.

Checks are carried out as follows:

- Twice yearly: an evaluation of contingency and loss provisions and of trade receivables provisions, and an audit by the Statutory Auditors and/or a review of accounts by the Statutory Auditors for all Group entities;

- Once a year: physical stock-taking;

- Once a month: the accounts are closed and any differences analysed, while late payment by customers is monitored;

- Continuously: monitoring of consumption of provisions, reconciliation of accounts, consistency controls by the Management Control department, and monitoring of debt levels relative to credit lines granted by the banks.

Financial management and consolidation documents are presented by the Finance Department to the Supervisory Board every quarter.

D. PRINCIPLES AND RULES USED IN SETTING THE COMPENSATION OF SENIOR MANAGEMENT

D.1 Corporate governance practice

67 recommendationsof the AMF, adapting them to companies governed by Management Board and Supervisory Board.

D.2. Executive compensation

Compensation rules for Laurent-Perrier have been substantively the same for many years. - Creation of a Remuneration and Corporate Governance Committee.

- Executive compensation voted by the Supervisory Board following recommendations from the Remuneration and Corporate Governance Committee.

- The breakdown of compensation components reflects the risks and responsibilities attached to the function.

- Adoption of standardised presentation of Executive compensation in the reference document.

E. ARRANGEMENTS CONCERNING SHAREHOLDER PARTICIPATION AT THE GENERAL