Information on the departure of Sébastien Huron

At its meeting on September 13, 2024, the board of directors acknowledged the resignation of Sébastien Huron, effective as of September 27, 2024, from his positions as chief executive officer of Virbac and director of Virbac Limited (UK).

On the recommendation of the appointments and compensation committee, the board of directors has decided on the financial terms of Sébastien Huron's departure, as set out below.

Fixed compensation for 2024

In accordance with the compensation policy approved by the shareholders’ meeting on June 21, 2024, the chief executive officer's fixed annual compensation for 2024 has been set at a gross amount of €449,440, including €45,000 in respect of his directorship on the board of directors of Virbac Limited (United Kingdom). This fixed compensation will be paid until the end of Sébastien Huron's term of office.

As a result, Sébastien Huron will receive €303,327 in fixed annual compensation for 2024 in his capacity as the chief executive officer of Virbac.

In his capacity as a director of Virbac Limited, Sébastien Huron will receive €33,750 in fixed annual compensation for 2024, representing a total fixed compensation of €337,077.

Variable compensation for 2024

In accordance with the compensation policy approved by the shareholders' meeting on June 21, 2024, the chief executive officer's variable annual compensation for 2024 is determined on the basis of the achievement of quantifiable and qualitative performance targets, and may reach €269,664 if 100% of the objectives are met, representing 60% of his fixed annual compensation.

The variable compensation will be calculated on the basis of the prorated fixed annual compensation.

The rate of achievement of the quantitative and qualitative criteria for Sébastien Huron's variable compensation for 2024 will be measured by the board of directors in the first quarter of 2025, following the closing of Virbac's annual financial statements for 2024, and the amount of variable compensation due to Sébastien Huron will be determined at that time. The payment of the variable compensation will be subject to the approval of the relevant resolution by the shareholders during the meeting to be held in 2025 to approve the financial statements for the year ending December 31, 2024.