ALD Automotive confirmed changes to its Board of Directors following resolutions approved at its Shareholder Meeting held on 24 May 2023: Appointment of Pierre Palmierias Member of the Board, replacing Didier Hauguel who announced his intention to resign from his mandate as from this Assembly date. At the Board meeting held following the Shareholder Meeting: Pierre Palmieri was elected as Chair of the Board, replacing Diony Lebot, following recent changes to Societe Generale group's governance. Didier Hauguel was assigned a 2-year mandate as Non-Voting Member of the Board (in line with dispositions of Art 14 of the by-laws), with the specific mission to supervise the progress of the integration of LeasePlan, the transition of the Company to regulated status, and the overall effectiveness of the Company's new governance.

New Internal regulations for the Board of Directors have been adopted, including a new organization with 5 specialized committees (Audit, Risk, Remuneration, Appointment, Strategy). The Chairs of these committees have been specified below. Further to these changes, along with those announced on 22 May 2023 with the completion of the LeasePlan acquisition, the composition of the Board of Directors of ALD is as follows: Pierre Palmieri, Chair of the Board & Chair of the Strategic Committee (COSTRAT), Tim Albertsen, Member of the Board and Chief Executive Officer, Diony Lebot, Member of the Board Delphine Garcin-Meunier, Member of the Board Frédéric Oudéa, Member of the Board Benoit Grisoni, Member of the Board Xavier Durand, Independent member of the Board, Chair of the Risk Committee (CORISK), Patricia Lacoste, Independent member of the Board, Chair of the Remuneration Committee (COREM), Anik Chaumartin, Independent member of the Board, Chair of the Audit Committee (CACI), Christophe Perillat, Independent member of the Board, Chair of the Appointments Committee (CONOM), Hacina Py, Member of the Board Mark Stephens, Member of the Board.

Pierre Palmieri is Deputy Chief Executive Officer, member of the Group General Management team and of the Group Executive Committee, having been appointed 24 May 2023. Pierre Palmieri began his career at Societe Generale Corporate and Investment Banking in 1987 within the Export Finance department where he became, in 1989, Head of the finance engineering team. He joined the Agence Internationale's team in 1994, where he created the Commodity Finance global business line.

He was appointed Global Head of Structured Commodity Finance in 2001. In 2006, he created and co-headed the Natural Resources and Energy Financing global business line. He was appointed Deputy Head of Global Finance in 2008, became Head of Global Finance in 2012 before widening his scope of responsibilities to the whole Global Banking and Advisory activities in 2019.

Pierre Palmieri is a graduate of the Ecole Supérieure de Commerce in Tours.