Lagardre contests the CAF's unilateral decision to cancel its agency agreement with Lagardre Sports

Lagard re contests the CAF's unilateral decision to cancel its agency agreement with Lagard re Sports At a meeting held today, the Confederation of African Football (CAF) informed Lagard re Sports of its unilateral decision to cancel the agency agreement binding the two companies to 2028. The cancellation is to take effect immediately.

Lagard re strongly contests this decision, which, in its view, is unlawful, unreasonable and unjustified.

Lagard re maintains that there is no reason including the ongoing investigation by the COMESA Competition Commission (CCC), which has yet to issue its decision1 to cancel the agreement at this stage.

Lagard re deeply regrets this situation and has asked the CAF to adopt a more reasonable position and honour its commitments.

The CAF has a responsibility to support Lagard re Sports in the ongoing procedure before the CCC with a view to maintaining the agreement, adjusted, as necessary, following discussions with the authorities, in their common interest and in the interests of African football.

Failing this, Lagard re will take any and all action to defend its interests and obtain compensation for any harm it may suffer.

1 The procedure is described in Lagard re's 2019 Interim Financial Report (Note 19 to the condensed consolidated interim financial statements).

Press Contacts

Thierry Funck-Brentano - Tel: +33 1 40 69 16 34 - tfb@lagardere.fr

Ramzi Khiroun - Tel: +33 1 40 69 16 33 - rk@lagardere.fr

Investor Relations Contact

Florence Lonis - Tel. +33 1 40 69 18 02 - flonis@lagardere.fr

Until recently, the Lagard re group was structured into four business divisions: Lagard re Publishing, Lagard re Travel Retail, Lagard re Sports and Entertainment and Lagard re Active.

In 2018, the Group launched its strategic refocusing around two priority divisions: Lagard re Publishing and Lagard re Travel Retail.

Lagard re shares are listed on Euronext Paris.

www.lagardere.com

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