Publication of operations conducted with related parties
(in accordance with article R. 22-10-17 of the French Commercial Code)
Information last updated on April 22, 2025.
Agreement authorized by the Board of Directors on November 22, 2018:
Name of the person directly or indirectly concerned: Mr. Henri Seydoux, Chairman and Chief Executive Officer of Parrot S.A.
Date, main provisions and interest for Parrot S.A.: Agreement for Mr. Henri Seydoux to make works of art available to PARROT S.A., free of charge, entered into on November 23, 2018 for an indefinite term with the option to terminate at any time with two months' notice. The Company bears the cost of insuring the works of art for as long as they are exhibited on the Company's premises. In this way, the Company intends to decorate its premises at a reduced cost with works of art whose prestige will benefit its communication, both to employees present and to outside visitors.
Agreement authorized by the Board of Directors on November 22, 2018:
Name of the person directly or indirectly concerned: Mr. Henri Seydoux, Chairman and Chief Executive Officer of PARROT S.A. and Chairman of HORIZON S.A.S., itself Chairman of HORIZON TABLEAUX S.A.S. (registered office: 10 bis avenue de la Grande Armée 75017 Paris, registered in the Paris Trade and Companies Register under number 829 013 739).
Date, main provisions and interest for the Company: Contract for the provision of works of art by HORIZON TABLEAUX to Société PARROT S.A., free of charge, entered into on November 23, 2018 for an indefinite period with the option to terminate at any time with two months' notice. The Company bears the cost of insuring the works of art for as long as they are exhibited on the Company's premises. In this way, the Company intends to decorate its premises at a reduced cost with works of art whose prestige will benefit its communication, both to employees present and to outside visitors.
Agreement authorized by the Board of Directors on March 15, 2023:
Name of the person directly or indirectly concerned: Mr. Henri Seydoux, Chairman and Chief Executive Officer of PARROT S.A. and Chairman of HORIZON S.A.S., itself Chairman of HORIZON TABLEAUX S.A.S. (registered office: 10 bis avenue de la Grande Armée 75017 Paris, registered in the Paris Trade and Companies Register under number 829 013 739).
Date, main provisions and interest for the Company: This Amendment No. 1 to the initial agreement of November 23, 2018, signed on March 20, 2023, extends the loan of works of art by Horizon Tableaux to the premises of Parrot S.A. located in the town of Le Bourget in the Paris region.
The provisions of the initial 2018 agreement apply: the provision of works of art by Horizon Tableaux is made free of charge, for an indefinite period, with the option to terminate at any time with two months' notice. PARROT S.A. bears the cost of insuring the works of art for as long as they are exhibited on the company's premises. PARROT S.A. thus intends to decorate its premises at a reduced cost with works of art whose prestige will benefit its communication, both to employees present and to outside visitors.
Financial cost for Parrot S.A.: The total annual cost to Parrot S.A. for all 3 art loan agreements, which is solely the cost of the insurance premium (the loan being free of charge), is approximately €9,000 (this amount may vary slightly depending on the insurance renewal conditions and the number of works exhibited). Parrot S.A. reported a profit of €7.8 million for fiscal year 2024.
Agreement authorized by the Board of Directors on November 13, 2024 (subject to approval by the Annual General Meeting on June 5, 2025):
Name of the person directly or indirectly concerned: Mr. Henri Seydoux, Chairman and Chief Executive Officer of PARROT S.A. and Chairman of HORIZON S.A.S.
Date, main provisions and interest for the Company: Shareholder current account agreement dated November 15, 2024, by which Horizon S.A.S. makes available to PARROT S.A., for a maximum period of 15 months, a current account advance of up to 5,000,000 euros. This agreement provides the Company with an additional source of financing for its day-to-day business, on attractive terms and with great flexibility of use.
Financial cost to Parrot S.A.: The overall annual cost to Parrot S.A. will depend on the amounts actually borrowed. For each advance granted to Parrot S.A., the Company must pay interest calculated by adding 40 basis points to the 12-month EURIBOR rate (EUR 12 months + 40 bps).
Agreement authorized by the Board of Directors on March 20, 2025 (subject to approval by the Annual General Meeting of June 5, 2025):
Name of the person directly or indirectly concerned: Mr. Henri Seydoux, Chairman and CEO of PARROT S.A.
Date, main provisions and interest for the Company: Non-profit staffing agreement dated March 27, 2025, under which PARROT S.A. grants Mr. Henri Seydoux a labour loan for his executive assistant, enabling him to benefit from her services on a part-time basis (25% of the time). The workload of Mr Henri Seydoux's executive assistant does not currently require her to be present at the Company more than 75% of the time. This loan of manpower will notably enhance the efficiency of Mr. Henri Seydoux's secretarial work in his capacity as Chairman and CEO of Parrot, through better coordination of their respective agendas.
Financial expense for Parrot S.A.: There is no financial expense for Parrot S.A., as Mr. Henri Seydoux has undertaken to reimburse the Company on a monthly basis for the portion of his salary and social security contributions.