EssilorLuxottica Holds First Combined Shareholders Meeting

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Hubert Sagnieres (l), executive vice chairman of Essilor Luxottica with Leonardo Del Vecchio, executive chairman of EssilorLuxottica.

CHARENTON-Le-PONT, France – EssilorLuxottica (ISIN: FR0000121667;Reuters: EL.PA) held its first combined general meeting yesterday at the Espace Grande Arche at La Défense, chaired by Leonardo Del Vecchio, executive chairman, and Hubert Sagnieres, executive vice chairman. Del Vecchio stated, “I was honored today to open the first Shareholders' Meeting of EssilorLuxottica. I face my role with a great sense of responsibility and a desire to be able to be a point of reference for all the shareholders of our new Group, while generating growth, achieving synergies and creating value for them. From today, we expect the important process of integration to have an emphasis on extreme simplicity and speed of execution, focusing the two operating companies in their respective areas of excellence: Luxottica in frames and Essilor in lenses.”

Sagnieres commented, “With its first shareholder meeting held today, we continue to lay the foundations of EssilorLuxottica. I am delighted that the Group has taken a decisive step forward to further develop employee shareholding within the Group with the support of its shareholders. The involvement of employees has always been key to Essilor’s development and I am proud to see that our shareholders recognize the importance of this as a core feature of the new entity. Going forward, the Group is in a unique position to advance its mission and to fully seize growth opportunities in a very dynamic market.”

EssilorLuxottica shareholders approved the proposals submitted by the board (and published in compliance with the provisions of law) regarding these 10 resolutions:

Ordinary meeting:

1. Approval of the compensation policy applicable to the executive corporate officers.

2. Increase of the directors’ fees.

3. Ratification of the co-optation of Ms.Sabrina Pucci as director replacing Ms. Rafaella Mazzoli.

4. Board authorization to proceed with the purchase of the company’s own ordinary shares.

Extraordinary meeting:

5. Authorization to be granted to the board of directors to reduce the share capital by cancelling company shares.

6. Delegation of authority granted to the board of directors for the purposes of deciding a capital increase reserved for members of a company savings plan, without preferential subscription rights (ceiling of 0.5 percent of the share capital).

7. Authorization to be granted to the board of directors to proceed with the award of free existing shares (also called performance shares).

8. Authorization to be granted to the board of directors to grant stock-options giving right to purchase existing shares subject to performance conditions.

9. Authorization to be granted to the board of directors to proceed with the award of free existing shares to certain Luxottica group employees, replacing cash retention bonuses previously promised to them by Luxottica.

10. Powers to carry out formalities.