Common use of Trader selection and Clause in Contracts

Trader selection and. stock market order execution policy (a) Securities listed for trading on the Euronext Paris, Amsterdam and Brussels markets Upon receipt of an order from an Account Holder concerning a Security listed for trading on the Euronext Paris, Amsterdam and Brussels markets, listed in euros, the order is immediately recorded by SGSS and sent as soon as possible to one of the following traders: • Societe Generale Securities, Paris, • Xxxxxxx Xxxxxx, • Xxxx. SGSS has selected these traders as they take all reasonable measures to obtain the best possible result, taking into account the following criteria: • primarily, the total cost, • secondarily, the speed and probability of execution of the order. The total cost means the price of the financial instrument, plus the various costs relating to execution of the order, including commission, costs applicable at the place of execution, clearing and settlement expenses and all other costs which may be paid to third parties involved in the execution of the order. The main markets on which these traders operate are: • NYSE-Euronext Paris markets: regulated market, Alternext, open market, • NYSE-Euronext Brussels markets, • NYSE-Euronext Amsterdam markets. In order to achieve the best possible results, the abovementioned traders may also operate on regulated markets or multilateral trading systems, or other places where orders are executed outside of regulated markets and multilateral trading systems, such as systematic internalisation systems or “alternative” platforms. Account Holders may instruct SGSS (see article 19 “Contacts”) not to execute their orders on internalisation platforms when the counterparty is Societe Generale. (b) Securities admitted only for trading on other markets and/or quoted in currencies other than the euro Upon receipt of an order from the Account Holder concerning a Security listed for trading exclusively on other markets and/or quoted in a currency other than the euro, the order is immediately recorded by SGSS and sent as soon as possible to a trader; the list of the main traders appears in an appendix made available to the Account Holder upon request. SGSS has selected these traders as they take all reasonable measures to obtain the best possible result, taking into account all the following criteria: • the total cost, • security, • the speed and probability of execution of the order. Total cost is not always decisive, as security may take priority on certain markets in order to ensure proper execution and settlement of the transaction. The list of the main markets on which these traders invest appears in an appendix made available to the Account Holder upon request. By signing this securities account agreement or by sending a first stock market order, the Account Holder declared to be informed and expressly accepts that, as part of their search for the best possible result, the selected traders may need to execute the Account Xxxxxx’s orders outside of a regulated market or multilateral trading facility. In accordance with the applicable regulations, the Account Holder is informed and expressly accepts that, in this situation, the selected traders may not, where applicable, make public the Account Holder’s limit price orders not immediately executed pertaining to shares admitted for trading on a regulated market. (c) Verification and modification of the selection policy Whenever so requested, SGSS will provide the necessary elements certifying that it properly transmitted the Account Holder’s order in compliance with its selection policy. SGSS undertakes to review its trader selection policy annually. It further undertakes to review this policy more frequently in the event of a substantial modification likely to affect its ability to continue regularly obtaining the best possible result in the execution of its Account Holders’ orders (for example, creation of a new market which very rapidly captures a large proportion of liquidity on securities traded on behalf of the Account Holder or, conversely, a sharp fall in liquidity on a market trading the same financial instruments). SGSS undertakes to inform the Account Holder of any substantial changes to its policy. In the event of inconsistencies, the updated policy made available to the Account Holder on the SHARINBOX website at xxx.xxxxxxxxx.xxxxxxxxxxxxxxx.xxx or upon request takes precedence (see article 19 “Contacts”). (d) Processing of specific instructions Account Holders are hereby informed that if their order contains a specific instruction, such as execution of the order on a specific market, SGSS cannot apply the policy described above in order to obtain the best possible result. As a result, in compliance with the applicable regulations, the trader selected by SGSS will respect its best execution obligation by executing the order or a precise aspect of the order according to the specific instructions given by the Account Holder concerning the order or the precise aspect of the order.

Trader selection and. stock market order execution policy (a) Securities listed for trading on the Euronext Paris, Amsterdam and Brussels markets Upon receipt of an order from an Account Holder concerning a Security listed for trading on the Euronext Paris, Amsterdam and Brussels markets, listed in euros, the order is immediately recorded by SGSS and sent as soon as possible to one of the following traders: • Societe Generale Securities, Paris, • Xxxxxxx Xxxxxx, • Xxxx. SGSS has selected these traders as they take all reasonable measures to obtain the best possible result, taking into account the following criteria: • primarily, the total cost, • secondarily, the speed and probability of execution of the order. The total cost means the price of the financial instrument, plus the various costs relating to execution of the order, including commission, costs applicable at the place of execution, clearing and settlement expenses and all other costs which may be paid to third parties involved in the execution of the order. The main markets on which these traders operate are: • NYSE-Euronext Paris markets: regulated market, Alternext, open market, • NYSE-Euronext Brussels markets, • NYSE-Euronext Amsterdam markets. In order to achieve the best possible results, the abovementioned traders may also operate on regulated markets or multilateral trading systems, or other places where orders are executed outside of regulated markets and multilateral trading systems, such as systematic internalisation systems or “alternative” platforms. Account Holders may instruct SGSS (see article 19 “Contacts”) not to execute their orders on internalisation platforms when the counterparty is Societe Generale. (b) Securities admitted only for trading on other markets and/or quoted in currencies other than the euro Upon receipt of an order from the Account Holder concerning a Security listed for trading exclusively on other markets and/or quoted in a currency other than the euro, the order is immediately recorded by SGSS and sent as soon as possible to a trader; the list of the main traders appears in an appendix made available to the Account Holder upon request. SGSS has selected these traders as they take all reasonable measures to obtain the best possible result, taking into account all the following criteria: • the total cost, • security, • the speed and probability of execution of the order. Total cost is not always decisive, as security may take priority on certain markets in order to ensure proper execution and settlement of the transaction. The list of the main markets on which these traders invest appears in an appendix made available to the Account Holder upon request. By signing this securities account agreement or by sending a first stock market order, the Account Holder declared to be informed and expressly accepts that, as part of their search for the best possible result, the selected traders may need to execute the Account XxxxxxHolder’s orders outside of a regulated market or multilateral trading facility. In accordance with the applicable regulations, the Account Holder is informed and expressly accepts that, in this situation, the selected traders may not, where applicable, make public the Account Holder’s limit price orders not immediately executed pertaining to shares admitted for trading on a regulated market. (c) Verification and modification of the selection policy Whenever so requested, SGSS will provide the necessary elements certifying that it properly transmitted the Account Holder’s order in compliance with its selection policy. SGSS undertakes to review its trader selection policy annually. It further undertakes to review this policy more frequently in the event of a substantial modification likely to affect its ability to continue regularly obtaining the best possible result in the execution of its Account Holders’ orders (for example, creation of a new market which very rapidly captures a large proportion of liquidity on securities traded on behalf of the Account Holder or, conversely, a sharp fall in liquidity on a market trading the same financial instruments). SGSS undertakes to inform the Account Holder of any substantial changes to its policy. In the event of inconsistencies, the updated policy made available to the Account Holder on the SHARINBOX NOMINET website at xxx.xxxxxxxxx.xxxxxxxxxxxxxxx.xxx xxx.xxxxxxx.xxxxxx.xxx or upon request takes precedence (see article 19 “Contacts”). (d) Processing of specific instructions Account Holders are hereby informed that if their order contains a specific instruction, such as execution of the order on a specific market, SGSS cannot apply the policy described above in order to obtain the best possible result. As a result, in compliance with the applicable regulations, the trader selected by SGSS will respect its best execution obligation by executing the order or a precise aspect of the order according to the specific instructions given by the Account Holder concerning the order or the precise aspect of the order.

Trader selection and. stock market order execution policy (a) Securities listed for trading on the Euronext Paris, Amsterdam and Brussels markets Upon receipt of an order from an Account Holder concerning a Security listed for trading on the Euronext Paris, Amsterdam and Brussels markets, listed in euros, the order is immediately recorded by SGSS and sent as soon as possible to one of the following traders: •  Societe Generale Securities, Paris, •  Xxxxxxx Xxxxxx, •  Xxxx. SGSS has selected these traders as they take all reasonable measures to obtain the best possible result, taking into account the following criteria: •  primarily, the total cost, •  secondarily, the speed and probability of execution of the order. The total cost means the price of the financial instrument, plus the various costs relating to execution of the order, including commission, costs applicable at the place of execution, clearing and settlement expenses and all other costs which may be paid to third parties involved in the execution of the order. The main markets on which these traders operate are: •  NYSE-Euronext Paris markets: regulated market, Alternext, open market, •  NYSE-Euronext Brussels markets, •  NYSE-Euronext Amsterdam markets. In order to achieve the best possible results, the abovementioned traders may also operate on regulated markets or multilateral trading systems, or other places where orders are executed outside of regulated markets and multilateral trading systems, such as systematic internalisation systems or “alternative” platforms. Account Holders may instruct SGSS (see article 19 “Contacts”) not to execute their orders on internalisation platforms when the counterparty is Societe Generale. (b) Securities admitted only for trading on other markets and/or quoted in currencies other than the euro Upon receipt of an order from the Account Holder concerning a Security listed for trading exclusively on other markets and/or quoted in a currency other than the euro, the order is immediately recorded by SGSS and sent as soon as possible to a trader; the list of the main traders appears in an appendix made available to the Account Holder upon request. SGSS has selected these traders as they take all reasonable measures to obtain the best possible result, taking into account all the following criteria: •  the total cost, •  security, •  the speed and probability of execution of the order. Total cost is not always decisive, as security may take priority on certain markets in order to ensure proper execution and settlement of the transaction. The list of the main markets on which these traders invest appears in an appendix made available to the Account Holder upon request. By signing this securities account agreement or by sending a first stock market order, the Account Holder declared to be informed and expressly accepts that, as part of their search for the best possible result, the selected traders may need to execute the Account XxxxxxHolder’s orders outside of a regulated market or multilateral trading facility. In accordance with the applicable regulations, the Account Holder is informed and expressly accepts that, in this situation, the selected traders may not, where applicable, make public the Account Holder’s limit price orders not immediately executed pertaining to shares admitted for trading on a regulated market. (c) Verification and modification of the selection policy Whenever so requested, SGSS will provide the necessary elements certifying that it properly transmitted the Account Holder’s order in compliance with its selection policy. SGSS undertakes to review its trader selection policy annually. It further undertakes to review this policy more frequently in the event of a substantial modification likely to affect its ability to continue regularly obtaining the best possible result in the execution of its Account Holders’ orders (for example, creation of a new market which very rapidly captures a large proportion of liquidity on securities traded on behalf of the Account Holder or, conversely, a sharp fall in liquidity on a market trading the same financial instruments). SGSS undertakes to inform the Account Holder of any substantial changes to its policy. In the event of inconsistencies, the updated policy made available to the Account Holder on the SHARINBOX website at xxx.xxxxxxxxx.xxxxxxxxxxxxxxx.xxx or upon request takes precedence (see article 19 “Contacts”). (d) Processing of specific instructions Account Holders are hereby informed that if their order contains a specific instruction, such as execution of the order on a specific market, SGSS cannot apply the policy described above in order to obtain the best possible result. As a result, in compliance with the applicable regulations, the trader selected by SGSS will respect its best execution obligation by executing the order or a precise aspect of the order according to the specific instructions given by the Account Holder concerning the order or the precise aspect of the order.