Esker : Rules of Procedure for Esker’s Supervisory Board

RULES OF PROCEDURE FOR THE SUPERVISORY BOARD

table of contents

FOREWORD ............................................................................................................................................................ 4

ARTICLE 1- Purpose of the rules of procedure ................................................................................................... 4

ARTICLE 2- Mission and powers of the Supervisory Board .............................................................................. 4

2.1 General mission of permanent oversight ................................................................................................... 4

2.2 Relations between the Executive and Supervisory Boards ....................................................................... 4

2.3 The offices of Supervisory Board Chair and Vice-Chair ............................................................................ 4

2.4 Additional Supervisory Board missions and authorities

2.4.1 Examine the succession plan for the 'director' and key roles ...................................................................... 5

2.4.2 Receive requests for audit or review ......................................................................................................... 5

2.5 Directors and Officers Liability Insurance (D&O) ....................................................................................... 5

ARTICLE 3- Composition of the Supervisory Board ........................................................................................... 5

3.1 Terms for appointing Supervisory Board members .................................................................................. 5

3.2 Independence criteria for Supervisory Board members ........................................................................... 5

ARTICLE 4- Duties and ethics of Supervisory Board members ........................................................................ 6

4.1 Duty of loyalty and compliance with laws and regulations ....................................................................... 6

4.2 Duty to report/conflicts of interest ............................................................................................................. 6

4.3 Exception: regulated agreements ............................................................................................................... 6

4.4 Duty of confidentiality for Supervisory Board members ........................................................................... 6

4.5 Obligation of care and attendance ............................................................................................................. 6

4.6 Obligation and right to be informed ........................................................................................................... 6

4.7 Obligations on holding company stocks .................................................................................................... 7

4.8 Obligations to abstain from trading company securities during specified blackout periods ................. 7

4.9 Obligations relating to holding insider information/Preventing insider trading and misconduct .............. 7

4.10 Anti-corruption, influence peddling, and money laundering ................................................................... 7

4.11 Board responsibilities concerning executive compensation ................................................................. 7

4.12 Internal auditing and risk analysis ............................................................................................................ 7

4.13 Statement of securities transactions and threshold crossing ............................................................... 7

ARTICLE 5- Operation of the Supervisory Board ................................................................................................ 8

5.1 Frequency of meetings ................................................................................................................................ 8

5.2 Agenda and information for Supervisory Board members ....................................................................... 8

5.3 Location of meetings .................................................................................................................................. 8

5.4 Use of video conferences and telecommunications ................................................................................. 8

5.4.1 Technical issues ..................................................................................................................................... 8

5.4.2 Specific rulings not permitted by video conferences or telecommunications .............................................. 8

5.5 Attendance records ..................................................................................................................................... 8

5.6 Quorum and majority ................................................................................................................................... 8

5.7 Term ............................................................................................................................................................. 8

5.8 Deliberations ................................................................................................................................................ 8

5.9 Meeting minutes .......................................................................................................................................... 9

5.10 Review of Board Activities ........................................................................................................................ 9

ARTICLE 6- Supervisory Board Committee Formation ...................................................................................... 9

6.1 Standard operating methods for committees ........................................................................................... 9

6.2 The Audit Committee .................................................................................................................................. 9

6.2.1 Composition and operation ..................................................................................................................... 9

6.2.2 Responsibilities ...................................................................................................................................... 9

6.3 Compensation and Appointments Committee ....................................................................................... 10

6.3.1 Composition and operation ................................................................................................................... 10

6.3.2 Responsibilities .................................................................................................................................... 10

6.4 The Corporate Social Responsibility (CSR) Committee .......................................................................... 10

6.4.1 Composition and operation ................................................................................................................... 10

6.4.2 Responsibilities .................................................................................................................................... 10

ARTICLE 7- Rules for determining Board member compensation .................................................................. 10

ARTICLE 8 - Entry into force - Binding force ..................................................................................................... 10

FOREWORD

Esker is a publicly-traded limited company with an Executive Board and a Supervisory Board.

The Supervisory Board members requested a set of operating rules constituting Rules of Procedure for the Supervisory Board. Esker's Supervisory Board adopted the rules of procedure herein based on the principles in the Middlenext Corporate Governance Code via its recommendations and issues of concern.

All current and future Supervisory Board members are subject to these rules of procedure. They are intended to supplement the legal, regulatory and statutory rules to which Esker is bound in an effort to specify modes of operation for the Supervisory Board in the interest of Esker, its Supervisory Board members, and its shareholders.

The rules of procedure are for internal use only and do not supersede the company's statutes, but rather implement them in functional terms. As such, they are non-binding for third parties. Shareholders shall be informed of these rules on the company website and in the Supervisory Board's corporate governance report. The Supervisory Board may vote to amend them.

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RULES OF PROCEDURE - SUPERVISORY BOARD

ARTICLE 1

PURPOSE OF THE RULES OF PROCEDURE

The purpose of these rules of procedure is to set forth the operating rules and methods for the Board and any of its committees as a supplement to the legal provisions and Esker's corporate statutes.

It also defines the Executive Board's missions and, as applicable, limits of power1 to clarify each governance body's roles, and it reiterates the obligations of every Board member and any committees, whether it be a natural person or permanent representative of a legal person.

ARTICLE 2

MISSION AND POWERS OF THE SUPERVISORY BOARD

2.1 General mission of permanent oversight

The Board exercises permanent oversight of the Executive Board's management of the Company, yet also has the power to conduct routine audits.

To this end, it has the following powers:

Oversight:

• • Review the Company's financial position, cash position, forward-looking management documents and commitments

• • Review the accounting audit process and information provided to shareholders

• • Review the annual company and consolidated accounts and interim progress reports

• • Review the means by which the Company, statutory auditors, and internal auditing ensure the conformity and integrity of the company accounts and any consolidated accounts

• • Review all decisions relating to the Company's overall strategic, economic, social, financial or technological directions

Appointments and compensation:

• • Appoint and dismiss Executive Board members

• • Establish how many members it has and their compensation

• • Appoint and dismiss the Executive Board Chair

• • Co-opt Board members

• • Allocate the fees paid to Board members

Provide prior authorization of regulated agreements and certain Executive Board decisions set forth in the statutes and/ or cited in paragraph 2.2 below while remaining aware of any conflicts of interest and conducting an annual review of the agreements.

Issue reports presented at general shareholder meetings.

Throughout the year, the Board confirms the quality and integrity of the information provided to shareholders, primarily by means of financial statements and the annual report; it conducts the audits and controls it deems appropriate and may request access to documents it considers expedient for fulfilling its mission. It finalizes the wording in the corporate governance report.

Within this scope, each Board member may request that Company management provide it with any documents and information it deems suitable for carrying out its oversight role.

The Executive Board Chair is required to provide Board members with the information and documents needed to fully perform its missions within a reasonable time frame.

Additional missions

• • Authorize the granting of bonds, endorsements, and guarantees under the terms provided by the regulations

• • Convene and finalize the agenda for general shareholder meetings

• • Ensure that the Company's desired social and environmental objectives are upheld

• • Examine the Company's policy on equal opportunity and pay

• • Define objectives for diversity in the governing bodies

• • Decide whether to form committees and ensure that these committees operate properly

2.2 Relationship between the Executive and Supervisory Boards

At least once every quarter, the Executive Board must report to the Supervisory Board on the Company's operation in compliance with the Code of Commerce (Art. L. 225-68).

For the purposes of review and analysis, subsequent to the closing of each fiscal year and within the period provided by the Code of Commerce (currently three months), the Executive Board will present the annual accounts and, if applicable, consolidated accounts, as well as a written report on the situation and activity of the Company and, when relevant, the group's activities during the previous year.

Without prior authorization from the Supervisory Board, some of the Executive Board's decisions cannot be adopted, and neither the Executive Board nor the Chairman of the Board may confirm some of its undertakings or engagements.

The transactions for which the Company is required to obtain prior authorization from the Supervisory Board are those indicated in the statutes and those for which the law requires the Supervisory Board's authorization, i.e. security bonds, endorsements and guarantees.

2.3 The offices of Supervisory Board Chair and Vice-Chair

From among its members, the Supervisory Board appoints a Chair and a Vice-Chair, natural persons who will serve out their terms as Supervisory Board members. They may be re-elected.

The Chair presides over the Supervisory Board's meetings. When the Chair is not in attendance, the Supervisory Board meeting is presided by the Vice-Chair or, if the Vice-Chair is not present, by a Supervisory Board member appointed by a majority vote of members in attendance or represented.

The Chair organizes and directs the work of the Board, which they report on at the general shareholder Meeting. The Chair ensures that the Company's bodies are operating properly and, specifically, that the Supervisory Board members are able to fulfil their missions. The Chair is provided with the material resources to carry out their mission.

1The statutes (Art. L.225-68 of the Code of Commerce) must indicate the transactions subject to prior authorisation from the Supervisory Board (See the appendix for wording of the article)