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Resetting our portfolio strategy We have determined three investment priorities: oncology, dermatology, and dermo-cosmetics. At the same time, we aim to make our mature product portfolio as profitable as possible. Our achievements in 2020 include: • Sale of the Galénic and Elancyl brands, in line with the Group's plan to focus its skincare investments on dermatologist- recommended brands targeting problem-prone skin as a priority. • Sale of businesses: refocusing the Group’s industrial activity on mainland France, with the sale of a specialist pharmaceutical production site in Argentina and a medicines packaging plant in Vietnam. • Oncology and medical dermatology partnerships with innovative biotechs: research agreement with Y-Biologics for the development of new immune therapies, and with the EspeRare Foundation for the development of a treatment for a rare dermatological condition. (read more on p. 26-27) Production in under 3 weeks of 700,000 units of hand sanitizer from the Soual plant in France and the Aréal plant in Brazil i.e. 50 metric tons in Soual and 18 metric tons in Aréal. In 2020, waiting time cut from 3 weeks to 1 week for dermo-cosmetics commercial operations Refocusing on strategic activities In 2020, Pierre Fabre sold its Elancyl and Galénic brands to Cantabria Labs in Spain and Yatsen in China, respectively. Highly focused on the body care market for one, and the luxury beauty market for the other, these two brands were no longer aligned with the strategic model of a Group wishing to refocus on dermatologist-recommended brands that target problem-prone skin. CHALLENGES & STRATEGY 21