At the meeting of the Supervisory Board held on December 9, 2025, and as a result of the signing of an employment contract between the Company and Mr. Eric DONNET effective from January 2, 2026, it was acknowledged that Mr. Eric DONNET no longer met all of the independence criteria set out in the Middlenext corporate governance code to which the Company refers, and therefore ceased to be considered independent within the meaning of said code.
In light of this situation, Mr. Jean-Claude LE LAN Junior informed the members of the Supervisory Board of his intention to resign, with effect from December 31, 2025, in order to allow the Company to adjust its governance in compliance with the required quota of independent members.
On the recommendation of the Nominations and Remuneration Committee, ARGAN’s Supervisory Board therefore unanimously decided to appoint Ms. Laurence BATLLE as an independent member of the Supervisory Board with effect from January 1, 2026, replacing Mr. Jean-Claude LE LAN Junior, for the remainder of his term of office, i.e. until the General Meeting scheduled for March 26, 2026.
A graduate of ICN and holder of the DEC (Diplôme d’Expertise Comptable), Ms. Laurence BATLLE has more than 30 years of professional experience, including 8 years as CEO of major companies. She notably served as Chair of the Management Board of RATP Dev and as Executive Chair of Foncia. She is also a non-executive director of several companies.
This appointment is made on a provisional basis and will therefore be submitted for ratification at the next General Meeting. Subject to ratification by the next General Meeting and to her renewal for a four-year term, it is specified that Ms. Laurence BATLLE will be appointed as a member and Chair of the Audit, Risk and Sustainability Committee, replacing Mr. Eric DONNET, who is expected to become Vice-Chair of the Supervisory Board with effect from March 27, 2026.
As a result of these changes, ARGAN’s Supervisory Board comprises 6 members, including 2 independent members, thus representing one third of its composition, in accordance with the recommendation of the Middlenext code.
ARGAN adds that this appointment leads to gender parity within its Supervisory Board.
