Sequana continuously strives to ensure that its corporate governance policy complies with recommendations from stock exchange authorities and market best practices in order to ensure the smooth running of its management bodies and improvements in its financial information, at the same time as remaining in balance with its ownership structure and the agreements concluded between the two majority shareholders.

To that end, the company refers, in developing its corporate governance policy, to the AFEP-MEDEF code of December 2008 (available on the website www.medef.fr). When this is not the case, in particular with regard to the composition of supervisory committees, these differences are justified by the ownership structure of the company and the provisions in the agreement concluded between the two majority shareholders.