Universal Registration Document Fiscal 2025

NOTE 10. PROVISIONS FOR IMPAIRMENT

(in millions of euros)	AUGUST 31, 2024	INCREASES AND CHARGES DURING THE PERIOD	DECREASES, RELEASES AND RECLASSIFICATIONS DURING THE PERIOD	OTHER MOVEMENTS DURING THE PERIOD	AUGUST 31, 2025
Impairment	Impairment AUGUST 31, 2024	Impairment INCREASES AND CHARGES DURING THE PERIOD	Impairment DECREASES, RELEASES AND RECLASSIFICATIONS DURING THE PERIOD	Impairment OTHER MOVEMENTS DURING THE PERIOD	Impairment AUGUST 31, 2025
financial assets	financial assets AUGUST 31, 2024 298	financial assets INCREASES AND CHARGES DURING THE PERIOD 29	financial assets DECREASES, RELEASES AND RECLASSIFICATIONS DURING THE PERIOD 61	financial assets OTHER MOVEMENTS DURING THE PERIOD	financial assets AUGUST 31, 2025 266
current assets	current assets AUGUST 31, 2024 1	current assets INCREASES AND CHARGES DURING THE PERIOD	current assets DECREASES, RELEASES AND RECLASSIFICATIONS DURING THE PERIOD	current assets OTHER MOVEMENTS DURING THE PERIOD	current assets AUGUST 31, 2025 1
TOTAL IMPAIRMENT	TOTAL IMPAIRMENTAUGUST 31, 2024299	TOTAL IMPAIRMENT INCREASES AND CHARGES DURING THE PERIOD 29	TOTAL IMPAIRMENT DECREASES, RELEASES AND RECLASSIFICATIONS DURING THE PERIOD 61	TOTAL IMPAIRMENT OTHER MOVEMENTS DURING THE PERIOD —	TOTAL IMPAIRMENTAUGUST 31, 2025267
Increases and decreases	Increases and decreases AUGUST 31, 2024	Increases and decreases INCREASES AND CHARGES DURING THE PERIOD	Increases and decreases DECREASES, RELEASES AND RECLASSIFICATIONS DURING THE PERIOD	Increases and decreases OTHER MOVEMENTS DURING THE PERIOD	Increases and decreases AUGUST 31, 2025
operating items	operating items AUGUST 31, 2024	operating items INCREASES AND CHARGES DURING THE PERIOD	operating items DECREASES, RELEASES AND RECLASSIFICATIONS DURING THE PERIOD	operating items OTHER MOVEMENTS DURING THE PERIOD	operating items AUGUST 31, 2025
financial items	financial items AUGUST 31, 2024	financial items INCREASES AND CHARGES DURING THE PERIOD 29	financial items DECREASES, RELEASES AND RECLASSIFICATIONS DURING THE PERIOD 52	financial items OTHER MOVEMENTS DURING THE PERIOD	financial items AUGUST 31, 2025
exceptional items	exceptional items AUGUST 31, 2024	exceptional items INCREASES AND CHARGES DURING THE PERIOD	exceptional items DECREASES, RELEASES AND RECLASSIFICATIONS DURING THE PERIOD 9	exceptional items OTHER MOVEMENTS DURING THE PERIOD	exceptional items AUGUST 31, 2025

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In Fiscal 2025, Sodexo recorded a net release of provisions for impairment of equity investments of 23 million euros, recognized in financial items, reflecting the positive outlook for the coming fiscal year.

NOTE 11. MARKETABLE SECURITIES

(in millions of euros)	GROSS VALUE AUGUST 31, 2025	CARRYING AMOUNT AUGUST 31, 2025	CARRYING AMOUNT AUGUST 31, 2024
Treasury shares⁽¹⁾	Treasury shares ⁽¹⁾ GROSS VALUE AUGUST 31, 2025 106	Treasury shares ⁽¹⁾ CARRYING AMOUNT AUGUST 31, 2025 106	Treasury shares ⁽¹⁾ CARRYING AMOUNT AUGUST 31, 2024 87
Cash in the liquidity contract account⁽²⁾	Cash in the liquidity contract account ⁽²⁾ GROSS VALUE AUGUST 31, 2025 5	Cash in the liquidity contract account ⁽²⁾ CARRYING AMOUNT AUGUST 31, 2025 5	Cash in the liquidity contract account ⁽²⁾ CARRYING AMOUNT AUGUST 31, 2024 2
TOTAL	TOTAL GROSS VALUE AUGUST 31, 2025 111	TOTAL CARRYING AMOUNT AUGUST 31, 2025 111	TOTAL CARRYING AMOUNT AUGUST 31, 2024 89

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NOTE 12. TREASURY SHARES

MOVEMENTS IN TREASURY SHARES DURING THE FISCAL YEAR

	MARKETABLE SECURITIES	OTHER FINANCIAL ASSETS
Number of shares held	Number of shares held MARKETABLE SECURITIES	Number of shares held OTHER FINANCIAL ASSETS
As of September 1, 2024	As of September 1, 2024 MARKETABLE SECURITIES 1,064,010	As of September 1, 2024 OTHER FINANCIAL ASSETS —
Acquisitions	Acquisitions MARKETABLE SECURITIES 1,874,804	Acquisitions OTHER FINANCIAL ASSETS
Disposals	Disposals MARKETABLE SECURITIES (655,934)	Disposals OTHER FINANCIAL ASSETS
Shares delivered	Shares delivered MARKETABLE SECURITIES (760,553)	Shares delivered OTHER FINANCIAL ASSETS
Cancellation of treasury shares leading to a reduction in capital and additional paid-in capital	Cancellation of treasury shares leading to a reduction in capital and additional paid-in capital MARKETABLE SECURITIES —	Cancellation of treasury shares leading to a reduction in capital and additional paid-in capital OTHER FINANCIAL ASSETS
Allocation as treasury shares held for cancellation	Allocation as treasury shares held for cancellation MARKETABLE SECURITIES —	Allocation as treasury shares held for cancellation OTHER FINANCIAL ASSETS
As of August 31, 2025	As of August 31, 2025 MARKETABLE SECURITIES 1,522,327	As of August 31, 2025 OTHER FINANCIAL ASSETS
Gross value of shares held (in millions of euros)	Gross value of shares held (in millions of euros) MARKETABLE SECURITIES	Gross value of shares held (in millions of euros) OTHER FINANCIAL ASSETS
As of September 1, 2024	As of September 1, 2024 MARKETABLE SECURITIES 89	As of September 1, 2024 OTHER FINANCIAL ASSETS
Acquisitions	Acquisitions MARKETABLE SECURITIES 132	Acquisitions OTHER FINANCIAL ASSETS
Disposals	Disposals MARKETABLE SECURITIES (45)	Disposals OTHER FINANCIAL ASSETS
Shares delivered	Shares delivered MARKETABLE SECURITIES (65)	Shares delivered OTHER FINANCIAL ASSETS
Cancellation of treasury shares leading to a reduction in capital and additional paid-in capital	Cancellation of treasury shares leading to a reduction in capital and additional paid-in capital MARKETABLE SECURITIES —	Cancellation of treasury shares leading to a reduction in capital and additional paid-in capital OTHER FINANCIAL ASSETS —
Allocation as treasury shares held for cancellation	Allocation as treasury shares held for cancellation MARKETABLE SECURITIES —	Allocation as treasury shares held for cancellation OTHER FINANCIAL ASSETS —
As of August 31, 2025	As of August 31, 2025 MARKETABLE SECURITIES 111	As of August 31, 2025 OTHER FINANCIAL ASSETS —

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Acquisitions and disposals include the implementation of the liquidity contract signed with an investment services provider, which complies with decision 2021-01 of the French securities regulator (Autorité des marchés financiers – AMF) , for the purpose of improving the liquidity of Sodexo shares and the regularity of the quotations.

Shares delivered correspond to the delivery of restricted shares granted to employees in prior years.

MAIN FEATURES OF RESTRICTED SHARE PLANS

The rules governing restricted share plans are as follows:

shares will vest subject to a continued-employment condition; in addition, some restricted share grants are subject to performance conditions;
the continued-employment condition is three years from the grant date, which is consistent with the vesting period and the performance conditions; this presence condition applies to all beneficiaries;
the proportion of shares subject to performance conditions ranges from 10% to 100%, depending on the total number of shares awarded and on the beneficiary's role in the Company.
The performance conditions applied are directly linked to the Group’s strategic priorities, and break down as follows:
- two conditions linked to the Group’s financial performance – revenue and underlying operating profit margin,
- two conditions linked to the Group’s non-financial performance and corporate responsibility, including objectives relating to talent management and sustainable development,
- one performance condition linked to Sodexo’s stock market performance versus a peer group, measured based on Total Shareholder Return (TSR). The peer group comprises a panel of international companies of a similar size to Sodexo operating in the same sector. For the 2022 plan, the panel comprised seven companies: Aramark, Compass, Edenred, Elior, ISS, Rentokil and Securitas. For the 2023 plan, the panel comprised the same companies, with the removal of Edenred following the spin-off of Pluxee (formerly the Benefits & Rewards Services activity). For the 2024 plan, the panel comprised the six companies mentioned above, i.e., excluding Edenred For the 2025 plans, the panel has been revised to reflect the Group's new profile following the spin-off of Pluxee on February 1, 2024. It now comprises eight companies, as follows: Accor, Adecco, Aramark, Compass, Elior, ISS, Randstad and Securitas (see section 7.4.1.3 for more information).

Universal Registration Document Fiscal 2025

Note 10. Provisions and impairment

NOTE 10. PROVISIONS FOR IMPAIRMENT

NOTE 11. MARKETABLE SECURITIES

NOTE 12. TREASURY SHARES

MOVEMENTS IN TREASURY SHARES DURING THE FISCAL YEAR

MAIN FEATURES OF RESTRICTED SHARE PLANS