Information on the financial terms of the departure of Paulo Castellari
Paris, February 6th, 2026
INFORMATION ON THE FINANCIAL TERMS OF THE DEPARTURE
OF PAULO CASTELLARI, CHIEF EXECUTIVE OFFICER
(According to the recommendations of the Afep-Medef corporate governance code)
During its meeting held on 1 February 2026, the Board of Directors decided the departure of Mr. Paulo Castellari from his duties as Chief Executive Officer, with effect as of the same date, and, upon the recommendation of its Compensation and Governance Committee, set the financial terms of his departure in accordance with the compensation policy approved by the General Shareholders’ Meeting of 26 May 2025. Those terms are detailed below.
Fixed remuneration paid in respect of fiscal year 2026
The fixed remuneration to be paid to Mr. Paulo Castellari for fiscal year 2026 will amount to 66,666.6 euros, corresponding to the prorated portion of his annual gross salary for the period from 1 January 2026 to 1 February 2026.
Short-term variable remuneration awarded in respect of fiscal year 2025
The short-term variable component of Mr. Paulo Castellari’s remuneration for fiscal year 2025 will be determined by the Board of Directors after the approval of the 2025 annual financial statements and the Board’s assessment of the level of achievement of the related performance conditions. In accordance with the compensation policy approved by the General Shareholders’ Meeting of 26 May 2025, this amount will be prorated for the period from 26 May 2025 to 31 December 2025.
Its payment is subject to approval by the General Shareholders’ Meeting of 27 May 2026.
Variable remuneration in respect of fiscal year 2026
Subject to the approval of the General Shareholders’ Meeting of 27 May 2026, no variable remuneration will be paid in respect of fiscal year 2026.
Ongoing share-based remuneration plans
Under a plan implemented in 2025, the Board of Directors granted Mr. Paulo Castellari performance shares, the vesting of which was subject to performance conditions assessed over three years and to a continuous presence condition over the same period. As the presence condition is no longer met, the rights thus granted have lapsed.
Mr. Paulo Castellari did not receive any other grants of performance shares or stock options.
Severance indemnity
In accordance with the applicable compensation policy, no severance indemnity will be paid to Mr. Paulo Castellari.
Non-compete undertaking
Upon the recommendation of its Compensation and Governance Committee, the Board of Directors decided not to implement the non-compete undertaking to which Mr. Paulo Castellari had agreed for the benefit of the Company.
Consequently, no non-compete indemnity will be paid to him.
Supplemental retirement
Mr. Paulo Castellari will retain the rights accrued as of the date he ceased his duties under the supplemental retirement plan funded by Eramet.
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