Eramet: 2021 Universal Registration Document

Universal Registration

Document

1 2

INTEGRATED REPORT - 2

ACTIVITIES 43

2.1 Mining and Metals activities 44

2.2 Mineral reserves and resources 75

2.3 High performance alloys activities

(discontinued operations) 84

2.4 Innovation and digital transformation 92

2.5 Holding 96

2.6 History of the Company 96

3

CONTENT

4

5

6

CONSOLIDATED FINANCIAL STATEMENTS AND INDIVIDUAL

FINANCIAL STATEMENTS 101

• 3.1 Consolidated financial statements

  for the 2021 financial year 102

• 3.2 Individual financial statements

  as of 31 December 2021 187

• 3.3 Consolidated financial statements

  for 2020 and 2019 222

3.4 Dividend policy 222

3.5 Insurance policy 223

CORPORATE

GOVERNANCE REPORT 225

4.1 Governance information 226

4.2 Information relating to remuneration of the management

and administration bodies 254

RISK FACTORS

AND CONTROL ENVIRONMENT 277

• 5.1 Principles of risk management

  within ERAMET 278

• 5.2 Group control and risk

  management environment 279

• 5.3 An integrated approach to risk

  management within ERAMET 280

• 5.4 Main risk factors to which the

  Group is exposed 283

NON-FINANCIAL

PERFORMANCE STATEMENT 293

6.1 CSR issues and approach of the

Eramet Group 294

6.2 Environmental protection 301

6.3 Social and societal commitments

of the Group 342

6.4 Business ethics 380

6.5 Methodological note 395 6.6 Report by one of the Auditors, designated as an independent third-party organisation, on the consolidated statement of non- financial performance provided in

the management report 399

7

ERAMET AND ITS

SHAREHOLDERS 407

7.1. Company's share market 408

7.2 Share capital 410

7.3 Information about the Company 417

7.4 Shareholders' Agreements 422

8 9

GENERAL

SHAREHOLDERS' MEETING 429

8.1

Explanatory statement and text of draft resolutions 430

ADDITIONAL INFORMATION 435

9.1 Persons responsible for the

Universal Registration Document 436

9.2 Statutory Auditors 436

• 9.3 Financial information - Available

  documents 437

• 9.4 Concordance table with the annual

  financial report 437

• 9.5 Management report reconciliation

  table 438

• 9.6 Corporate governance report

  reconciliation table 440

• 9.7 Reconciliation table with European

  regulation (EU) 2017/1129 441

• 9.8 Concordance table with the Global

  Compact principles - Eramet COP 444

• 9.9 Concordance table with the main consequences of the COVID-19

  pandemic 445

10

2021 VIGILANCE PLAN

- ERAMET GROUP 451

I. Scope and objectives 452

II. Risk mapping and assessment

of subsidiaries 452

III. Risk management 455

• IV. Governance and systems to monitor the measures implemented and assess their

  effectiveness 466

• V. Identification, assessment and management of risks related

  to suppliers and subcontractors 467

• VI. Whistleblowing and reporting

  mechanism 469

• VII. Report on the effective implementation of the Vigilance Plan 472

2021

UNIVERSAL REGISTRATION DOCUMENT

INCLUDING THE ANNUAL FINANCIAL REPORT

This Universal Registration Document was filed with the Autorité des marchés financiers (AMF) on 4 April 2021, as the competent authority under regulation (EU) 2017/1129, without prior approval pursuant to Article 9 of the said regulation. The Universal Registration Document may be used for the purposes of an offer to the public of securities or admission of securities to trading on a regulated market if completed by a prospectus and, if applicable, a summary and any amendments to the Universal Registration Document.

All of the above is approved by the

AMF in accordance with Regulation

(EU) 2017/1129.

This is a copy of the official version

of the 2021 Universal Registration

Document, including the annual

financial report 2021, which has been

prepared under the ESEF format

(European Singlie Electronic Format)

and filed with the AMF, available on

the Company's website and on the

AMF's website.

The purpose of the integrated report is to communicate to stakeholders the challenges Eramet is helping to address and how the Group's activities create financial and non-financial value. It draws on the reference f ramework established by the International Integrated Reporting Council (IIRC) and complements our other publications. The information presented has been selected based on its relevance and materiality. The integrated report is included in the Universal Registration Document (URD) and is also available as a standalone publication on Eramet's website.

IIRC is a member of the Value Reporting Foundation, a global non-profit organisation that offers a comprehensive range of resources designed to help companies and investors develop a common understanding of corporate value and how it is created, preserved or eroded.

CONTENTS

OF THE INTEGRATED REPORT

Manifesto 3

Message

from the Chair and CEO 4

2021 Key figures 6

Our locations 8

History of the Eramet Group 10

Organisation of activities 11

Activities

- Mining and Metals activities 12

- High Performance Alloys 17

Innovation 18

Trends and opportunities 20

Business model 22

Value creation 24

Strategy 26

CSR Commitment 30

Risk management 32

Governance 34

Financial performance 36

Non-financial performance 39

2022 Outlook 41

ERAMET 2021 - UNIVERSAL REGISTRATION DOCUMENT 3

Working towards a more sustainable world: this is the most pressing challenge facing humankind.

To meet this challenge, and because metals are essential, our industries have a major role to play - both here and now, and for future generations. This means successfully implementing a vital energy and ecological transition, which entails continually striving to use our natural resources more responsibly.

We have made this role a top priority within our corporate purpose: to become a reference for the responsible transformation of the Earth's mineral resources for 'living well' together.

Because we are convinced of the validity of our approach, we place operational and financial performance on the same level as social responsibility.

Although our vision to make Eramet a committed and contributive corporate citizen remains consistent, our model has changed considerably.

Today, we have everything in place to meet the two challenges of the new era of metals: produce more and produce better.