Dassault Systemes : Answers to written questions (free translation)

Answers to the written questions 2024 of the

Forum pour l'Investissement Responsable

This document is a free translation for convenience purposes only. In the event of any conflict or inconsistency between the French and this translation, the French version shall prevail.

Environment

Question 1

1. Could you outline your decarbonization objectives for the short, medium and long term for your three scopes (in absolute terms and in terms of intensity)? For each of your objectives, explain the main actions planned to achieve these objectives (please specify the percentage contribution of each action to the objective).
   How much of your strategy is dedicated to negative emissions (absorption and storage, etc.), avoided emissions or carbon credits (to be distinguished from your decarbonization objectives)? To help you answer, you can fill in the table in Appendix 1.

Appendix 1sets out Dassault Systems' short-, medium- and long-term decarbonization objectives. These are structured around SBTI targets for 2025 and 2027 and the Company's neutrality trajectory for 2040:

• -35%reduction in scopes 1 and 2 by 2027;
• -20%reduction in scope 3 (commuting and business travel) by 2027;
• 50% of suppliers (in emissions) with a reduction trajectory validated with SBTI.

To date, Dassault Systèmes has focused its efforts on reducing greenhouse gas emissions. These reduction targets, which run until 2027, foreshadow the goal of carbon neutrality, set for 2040. In this context, the acquisition of carbon credits is envisaged. Some events have already been offset. In 2023, Dassault Systèmes offset the equivalent of 671 tons of CO2 through the purchase of carbon credits acquired as part of voluntary carbon offsetting.

In 2023, the carbon footprint of Scopes 1, 2 and 3 totaled 186,894 teqCO2, down 19% on 2019 and up 6% on 2022. This trend is in line with growth in average headcount and the result of actions undertaken over several years to reduce GHG emissions. More specifically, Dassault Systèmes' Scopes 1 and 2 are 71% lower than in 2019, the reference year for SBTi targets, and 6% lower than in 2022. This improvement is mainly the result of energy-saving efforts at major sites and more optimized use of the Company's fleet of business vehicles, in line with the Company's "Responsible Mobility" policy. In 2023, the proportion of renewable energy supply will be 84%, stable compared to 2022.

Scope 3 emissions for "business travel" and "home-workplace travel" were down 52% on 2019 and stable on 2022, fully offsetting the increase in the Company's headcount (+5.7%), and demonstrating control over business travel. The percentage, in terms of emissions, of suppliers with science-based objectives reached 37% by the end of 2023, compared with 26% in 2022, thanks in particular to awareness-raising actions carried out by Dassault Systèmes' Purchasing teams, and contributing to an acceleration in the implementation of decarbonization strategies within the Enterprise's value chain.

Despite growth in headcount and activity, Dassault Systèmes remains well positioned to meet its SBTi targets for Scopes 1, 2 and 3 emissions by 2025 and 2027.

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Carbon intensity, in millions of euros of IFRS sales, is virtually stable at 31.4 versus 31.2 in 2022, but, at constant exchange rates, shows an improvement of 2.4%. Carbon intensity per employee shows, for Scopes 1, 2 and 3, a net decrease of 40% compared to 2019, and of 1% compared to 2022, from 8.2 to 8.1 teqCO2 per employee.

1. Could you please indicate the amount of investment required for each of the main actions deployed across the three scopes? Please specify the timeframe covered by these investments. In most cases, the information required here is different from the amount of CAPEX/OPEX aligned with the European taxonomy, which concerns only investments in your sustainable activities and not those for your overall decarbonization plan.

75% of Dassault Systèmes' carbon footprint is generated by scope 3 linked to the supplier chain and travel. Most of the actions undertaken to limit Dassault Systèmes' greenhouse gas emissions do not require significant direct investment in scopes 1, 2 and 3, but for example the implementation of new policies relating to travel and commuting or teleworking, or temperature management on sites.

The most significant investments will have to be made by our main suppliers in the most important categories, i.e., property rentals, IT equipment and data hosting services. It is very difficult to obtain figures for investments by our suppliers to decarbonize their production chain, but Dassault Systèmes takes carbon efficiency criteria into account in its choice of solutions or equipment, and can accept an impact on its operating expenses (OPEX).

Dassault Systèmes' real estate policy takes into account high environmental efficiency criteria when relocating and setting up new facilities. The Company has demonstrated its willingness to pay higher rents to meet these objectives.

Recent calls for tenders for IT equipment have also taken into account the carbon content of equipment, equipment reparability indexes and energy efficiency in the final decision.

Finally, as the Company owns very few of its own data centers, a regular dialogue is maintained with our data hosting infrastructure suppliers to study their investment plans for improving the energy efficiency of these infrastructures.

1. On which reference scenario(s) is your decarbonization strategy based (on the three scopes)? Is it aligned with a 1.5°C scenario? Has it been validated by an independent third party (SBTi, ACT- ADEME...)?
   Please indicate the name of the scenario(s) and the reference organization(s) (e.g., IEA, IPCC, etc.).

Dassault Systèmes' strategy is aligned with the 1.5°C scenario and has been validated by the SBTI for the Company's medium-term objectives in 2025 and 2027.

Question 2

Biodiversity-related risks, impacts, dependencies and opportunities are still insufficiently taken into account in business activities (internal, supply chain, products, customer services, etc.). But as the context and tools (TNFD, SBTN, GRI...) progress, so do practices. While this subject may appear to be of little relevance to certain sectors, we nonetheless believe that it merits analysis by all.

1. Have you assessed, monitored and reduced your dependencies and risks, on the one hand, and your footprint, on the other, but also your opportunities (investment in projects with a net positive impact on nature, services in favor of biodiversity, etc.) in relation to biodiversity and nature?

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Is this assessment up to date and does it cover your entire value chain (direct operations, upstream and downstream)? If it covers only part of your value chain, do you plan to extend the scope of this assessment? If not, why not?

In 2023, Dassault Systèmes produced an initial dual materiality matrix analyzing its risks, positive and negative impacts and opportunities, covering all of the Company's themes, including biodiversity.

Biodiversity is particularly present in the Company's upstream value chain, in the extraction of metals, rare materials and water for the manufacture of IT equipment and the use of data centers.

Dassault Systèmes is therefore aware of its impact on biodiversity and tries to limit it through:

1. • Its buildings: The Company has numerous sites and ensures that when it opens a new site, biodiversity is not or has not been significantly impacted by the construction of the buildings it rents or, in very rare cases, builds. Compensation measures are implemented where necessary, as was the case in India with the planting of numerous trees during the construction of the new Dassault Systèmes campus in the city of Pune. The impact of soil artificialization is now taken into account when choosing new office locations.
   • IT equipment: because of the energy, metals and water required to manufacture and use IT equipment, Dassault Systèmes examines the commitment to biodiversity of its main suppliers and carefully assesses the carbon footprint of its equipment. Non-renewable energy consumption has a direct impact on global warming and ocean acidification, and consequently on terrestrial and marine biodiversity. However, the lack of product traceability, particularly in the digital sector, makes it difficult to reliably assess the impact on biodiversity of metal extraction and related pollution.
   • And the selected recycling channels: electronic equipment reaching the end of its life cycle can have an additional impact on the air or soil, and therefore on biodiversity around landfill sites. Every year in France, over 90% of laptops decommissioned by Dassault Systèmes find a second life in the circular economy.
2. Do you publish the results of this work? If not, do you plan to publish it? Please justify your answer. Do you plan to rely on voluntary frameworks such as TNFD, SBTN, GRI101... to report on nature related risks and opportunities?

Dassault Systèmes will publish its double materiality matrix in 2025 when it will publish its Universal Registration Document 2024. This will have been reviewed by an independent third party as part of the CSRD. The matrix will include risks and opportunities related to the climate, but also to nature (impact on biodiversity in the value chain, use of water, impact on the climate, pressure on natural resources, positive impact on nature linked to Dassault Systèmes solutions, etc.).

1. Do you publish or plan to publish quantitative indicators to report on the risks and opportunities that biodiversity poses or offers your company (value of assets, liabilities, revenues and expenses considered vulnerable to nature-related risks, CAPEX, financing or investments devoted to nature-related opportunities, etc.)? If so, which ones, and do you set targets? Justify your choice of indicators. If not, why not?

Concerning biodiversity, this subject is essentially linked to Dassault Systèmes' upstream value chain. The Company has defined its materiality within the framework of the CSRD. Dassault Systèmes has no plans to publish indicators in 2024, but is continuing to study the subject.

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Question 3

1. What role does the circular economy play in the company's strategy? Criteria to be assessed:
2. • Objectives (quantitative, ambitious, scope)
   • Ambition and quality of strategy
   • Links with other sustainable development issues (in particular decarbonization and biodiversity)

The circular economy is at the heart of Dassault Systèmes' corporate strategy. Indeed, it is the first key concept mentioned in the letter from the Chairman of the Board of Directors and the Chief Executive Officer in the 2023 Universal Registration Document. It states that "It is important to remember that virtual worlds were created to drive sustainable development. The purpose of the first 3D representations was to replace physical prototyping, saving raw materials, energy and resources. The Product Lifecycle Management (PLM) solutions pioneered by Dassault Systèmes in the early 1990s have helped foster a circular, more balanced approach within industry. Dassault Systèmes wants to be the catalyst and enabler of the real Industry Renaissance of the 21st century and the Generative Economy."

1. How do you encourage the development of circular business models (via investment or financing strategies, customer services, engagement with suppliers, etc.)?
   Criterion to be assessed: Precision in the answer (e.g., thematic funds on the circular economy, launch of financial/insurance products, support offer, assessment tools used, training, etc.).

Today, the evidence is clear: based on the 3DEXPERIENCE platform, virtual twins are the preferred instrument of a circular economy, which gives back as much as it takes away. In 2021, for example, Dassault Systèmes quantified their potential impact on the climate, in a study carried out in collaboration with the Accenture group: extrapolating from five industrial use cases, it was shown that it would be possible to save 7.5 gigatons of CO2, equivalent to one year's emissions from the transport sector worldwide. In 2023, Dassault Systèmes supported manufacturing industry customers in their transition to a more circular economy and, for some of them, made a quantified estimate of their contribution to the circular economy.

The Company is committed to the circular economy in its own operations, notably with the following priority fields of action:

• supporting the functionality economy
• optimizing the life cycle of digital products
• ensuring its local impact;
• optimizing mobility;
• promoting reparability and reconditioned products;
• training in eco-design.

The Company has thus joined or continued its work with several non-profit organizations (see paragraph 2.5.2.4 "Resource Use and Climate Action Plans" of the 2023 Universal Registration Document), renewing for example its collaboration with the Ellen MacArthur Foundation. This partnership enables the Company to obtain first-rate advice on the development of its circularity strategy.

In France, the collaboration initiated over 10 years ago with a partner committed to social inclusion and reducing the digital divide has enabled Dassault Systèmes to reinject over 650 laptops into the circular economy.

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1. How much of your investment/financing or offering is linked to the circular economy?
   Criterion to be assessed: Share of investments or sales in % (or any other relevant circular economy indicator).

A very large part of Dassault Systèmes' offering is focused on the circular economy. For the first time in 2023, Dassault Systèmes has published the rate of eligibility for the European taxonomy of its revenue linked to circularity. The rate was 58.7%.

Dassault Systèmes has also identified the main levers of action put in place to contribute to the circular economy in the production cycle of its solutions:

Social

Question 4

1. In France, the "Climate and Resilience" law of August 22, 2021 and the national interprofessional agreement (ANI) on ecological transition and social dialogue of April 11, 2023 have extended the environmental prerogatives of the CSE and strengthened the role of local representatives. Over the past twelve months, what initiatives are likely to significantly illustrate a change in the way these bodies operate within your Group as a result of these provisions?

For the Dassault Systèmes SE Social and Economic Committee, environmental aspects are an integral part of the consultation process on Company strategy. As in 2022, a specific presentation to the CSE

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on this subject was made in November 2023 by one of the Company's sustainable development managers. The expert appointed by the CSE on strategy also met with the Chief Sustainability Officer. These subjects were extensively commented on in the expert's report, and then in the opinion issued by the CSE on the strategy, which was communicated to the Board of Directors. In this opinion, the CSE notably "welcomed the efforts made in 2022 and 2023" with regard to Dassault Systèmes' environmental performance.

In view of the importance of the issues at stake, on the more specific question of sustainable mobility, a working group was set up in 2023 to prepare for negotiations with the representative trade unions. In addition to business representatives (purchasing, general resources, HR, etc.), this working group includes one representative per representative trade union organization. To ensure that this working group has a good understanding of the issues at stake, its members - including the employee representatives who sit on it - took part in a collaborative workshop on the mobility fresco. This working group was unable to finalize its work this year due to the organization of professional elections. Discussions will continue in 2024.

1. Within the framework of these new prerogatives, the training and expertise of the social partners are fundamental. Have you recently developed, or do you plan to develop in the near future, programs specifically dedicated to social partners to strengthen their expertise in environmental matters that go beyond legal obligations?

Social partners have the opportunity to learn about environmental issues as part of trade union training programs organized during their working hours.

1. International framework agreements reinforce the quality of labor relations within a group. Does your group have a framework agreement that extends beyond the European Union? If so, how have you integrated the issue of ecological transition and, more broadly, environmental issues? If not, are there any plans for such a project? In any case, in your five main geographic markets outside France, can you list any major initiatives that show a recent strengthening of social partners' involvement in the company's environmental policy?

At this stage, Dassault Systèmes does not have an international framework agreement that goes beyond the European Union.

However, in September 2023, the European Company Committee - whose members represent all the countries of the European Union, the United Kingdom and Norway - was able to exchange views with one of the Company's sustainable development managers on the follow-up of initiatives put in place on sustainable development issues.

The European Company Committee has also set up a working group on environmental issues to work with management representatives on specific questions. This working group has, for example, worked with the IT department on the challenges of recycling IT equipment. The findings of this working group were shared with management on November 29, 2023.

Question 5

1. For each of the last five years, can you indicate the number of shares bought back (also specify the number of shares under liquidity contracts) and the number of shares created, as well as the number of treasury shares held at the beginning and end of each year? For each of these years, can you break down: the number of shares cancelled; the number of shares allocated as performance shares (as well as the number of beneficiaries and their proportion in relation to all Group employees); the number of shares distributed as part of employee shareholding

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operations (as well as the number of eligible employees, the number of actual beneficiaries and their proportion in relation to all Group employees); other uses (giving details)?

To help you answer these questions, please complete the table in Appendix 2.

This information is summarized in Appendix 2.

For information purposes, share buybacks are mainly allocated to cover obligations arising from (i) the allocation of performance shares to Dassault Systèmes employees and (ii) employee shareholding plans.

Information concerning the annual allocation of share buybacks is available in the Universal Registration Documents filed with the AMF (section 6.2.4 "Share buyback programs").

1. In the case of performance share plans, and where relevant, how do you "neutralize" the effects of treasury shares held or cancelled when calculating target attainment?

Performance conditions for performance shares and stock options are based on two elements: 80% on growth in diluted non-IFRS earnings per share (EPS) excluding the effects of exchange rate fluctuations, and 20% on the satisfaction of the Company's environmental, social and governance criteria.

As indicated, treasury shares bought back are intended for delivery to beneficiaries of performance share plans. As one of the two criteria is diluted EPS, it takes into account these two elements in its calculation: the dilution of EPS caused by the allocation of performance shares, and its accretion by treasury shares bought back to cover these plans.

In addition, the capital reductions by cancellation of shares carried out in 2022 and 2023 had no other purpose than to offset the capital dilution linked to the TOGETHER and TOGETHER 2023 employee shareholding plans.

1. What capital expenditure (R&D and capex) have you made over the past 5 years (year by year)? What amounts of capital have you repurchased and cancelled over the same period? To help you answer these questions, you can fill in the table in Appendix 3. As part of the overall approach to value sharing, do you scale the amount allocated to share buy-backs in relation to the amount of investments - in particular those dedicated to the ecological transition - made by the company (an essential element in the creation of value and the company's sustainability)? If so, do you have any rules in this area? If not, can you explain why you do not take investments into account when setting share buyback amounts?

These elements are summarized in the table below corresponding to Appendix 3:

	2023	2022	2021	2020	2019
R&D Investment	1,228,300,000 €	1,087,200,000 €	949,300,000 €	935,400,000 €	737,900,000 €
Capex Investment	305,000,000 €	215,100,000 €	144,800,000 €	178,300,000 €	269,100,000 €
Amount of capital
repurchased	375,400,000 €	639,600,000 €	283,200,000 €	166,200,000 €	133,800,000 €
(amount spent to
buy the shares)
Amount of capital
cancelled	171,800,000 €	233,700,000 €	0	0	0
(including share

premium)

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As indicated, share buybacks are mainly used to cover obligations arising from (i) the allocation of performance shares to Dassault Systèmes employees and (ii) employee share ownership plans.

Share buyback amounts are therefore not determined on the basis of the amount invested, but on the basis of growth in the number of employees benefiting from long-term incentive plans or shareholding in the Company's capital.

Question 6

A living wage can be defined as: "The remuneration received for a normal working week by a worker in a given location, sufficient to ensure a decent standard of living for the worker and his family. The elements of a decent standard of living include food, water, housing, education, health care, transportation, clothing and other basic needs, including provision for unforeseen events", as defined by the Global Living Wage coalition. The living wage is also quite distinct from the local legal minimum wage.

1. Have you adopted a definition of living wage such as the one above or equivalent? If so, which one? Have you developed a policy/commitment on the issue of living wages (public commitments, accreditation as a Living Wage Employer, etc.)? Please note that for the remaining questions, we are specifically looking for elements related to the living wage that we distinguish from the local legal minimum wage. If you have not yet made a commitment, please go on to question 7.

The Company has not adopted a definition of a living wage. As most of Dassault Systèmes' employees are managers, the vast majority of whom are engineers, the challenge for Dassault Systèmes is to develop an attractive global compensation policy, particularly in a context of heightened competition on the global labor market.

Our remuneration policy consists of an annual salary, comprising a fixed and a variable component, depending on the position. In compliance with local regulations and practices, the salary is supplemented by social security benefits. In addition to the compulsory schemes, the Company offers, depending on the country, supplementary healthcare and provident cover, notably covering death, incapacity and disability, as well as additional compensation during maternity and paternity leave. Employees can also take advantage of a range of benefits, including transport and childcare allowances, shopping vouchers and discounts. In addition, a second employee share ownership plan, offering a capital guarantee in euros, was offered in 2023 in 23 countries, covering almost 99% of the workforce at the plan's opening date.

Each year, the salary scales applicable to employees are analyzed to ensure alignment with high-tech market practices. This analysis is carried out on the basis of information supplied by market research consultants. Where appropriate, the new grids are implemented for the coming year.

1. Based on your definition of a living wage, have you begun to calculate it, and what methodologies do you rely on? If so, in which region(s) and for which scope (salaried employees, but also self-employed workers, small farmers, etc. - or/and employees of your suppliers)? What information do you publish on this subject? Have you identified any discrepancies between the minimum wage and the living wage?

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1. Can you describe the actions you have taken to implement a decent wage? (e.g.: develop internal management on the subject of decent wages, backed up by training, engage with social partners

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and/or your suppliers, improve purchasing practices, promote freedom of association and collective bargaining...).

The Dassault Systèmes Responsible Purchasing Charter, to which all our suppliers must adhere, takes into account human rights issues in the broadest sense of the term.

1. How do you measure the implementation of decent wages for your employees and suppliers? Please give details of the contribution of any external audits in the follow-up.

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1. Have you identified any obstacles that might stand in the way of paying a decent wage to your employees and your suppliers' employees (e.g., in a country where label rights and regulations are less strict)? If so, what are you doing to alleviate them?

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Bonus question: do you communicate the results of any studies you carry out, and have you set up a whistle-blowing tool for your employees and suppliers?

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Question 7

1. France: How many funds are offered to your employees in your employee savings plans? How many and which of the funds offered to your employees have a responsible label (please mention their name and the name of the associated label)? What is the amount of labelled assets per fund?
   Can you also mention the total assets and the amount of assets excluding non-labelled shareholders?
   To help you answer these questions, please complete the table in Appendix 4.
   On average, are the matching contributions offered to your employees for your label funds higher than those offered for your other non-shareholder label funds?

Excluding employee share ownership, Dassault Systèmes' employee savings plans offer:

• Free management: 5 funds
• Managed management: Three profiles made up of 3 funds

Four out of five funds apply a socially responsible investment policy. However, as the funds are dedicated to Dassault Systèmes employees, the Supervisory Boards have decided at this stage not to label the funds for practical reasons, but reserve the right to revise this position.

The labelled fund is the only multi-company fund in the free management range: Amundi Label Monétaire ISR.

However, three other funds are labelled SRI. In fact, management and trade unions are very keen to give priority to responsible funds within the financial offering.

Free management funds:
Name of the funds	Nature of	SFDR	Label	Particularities
the funds
AMUNDI LABELMONETAIRE	Multi-	Article 8	Label CIES
corporate
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DASSAULT SYSTEMES ISR			Poche solidaire
Dedicated	Article 8	Finansol Label,
MODERE SOLIDAIRE
		Relance Label
DASSAULT SYSTEMES ISR	Dedicated	Article 8	Label not
EQUILIBRE	requested
DASSAULT SYSTEMES ISR	Dedicated	Article 8	Label not
DYNAMIQUE	requested
DASSAULT SYSTEMES	Dedicated	Article 6
ACTIONS MONDE

Underlying assets exclusively SRI (article 8 or article 9) Underlying assets exclusively SRI (article 8 or article 9)

At June 30, 2023, assets under management in label and SRI funds were as follows:

Name of the funds		ISR investment policy	ISR Label	Outstanding
	amounts
AMUNDI LABEL MONETAIRE ESR - F	Yes	Yes	120,749,985.54 €
DASSAULT	SYSTEMES ISR	MODERE	Yes	No	67,835,531.93 €
SOLIDAIRE
DASSAULT SYSTEMES ISR EQUILIBRE	Yes	No	39,670,434.45 €
DASSAULT SYSTEMES ISR DYNAMIQUE	Yes	No	99,975,854.42 €
DASSAULT	SYSTEMES	ACTIONS	No	No	69,587,448.04 €
MONDE

Outstanding amounts:

• SRI Policy: 328,231,806 €
• SRI Label: 120,749,985 €

At June 30, 2023, total assets and assets excluding non-labelled shareholders were as follows:

• Total assets: 467,922,335 €
• Total outstanding amounts excluding employee shareholding and CCB: 438,627,286 €
• Total outstanding amounts excluding employee shareholding, CCB and non-labelled: 317,877,300 €
• Total assets excluding employee shareholding, CCB and SRI: 110,395,479 €

The matching contribution policy does not depend on the allocation of savings to certain investment vehicles. On the other hand, there is a matching contribution if employees pay into their PERCOL plan to encourage them to build up assets for retirement. It should be remembered that four out of five funds in the PEE and PERCOL schemes are managed on a voluntary basis, in line with a socially responsible investment policy.

All the information is summarized in Appendix 4.

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