Legrand

Earnings Release • Feb 9, 2023

PRESS RELEASE

Limoges, February 9, 2023

2022 full-year results

Legrand fully met its targets, with sales up +19.2% and adjusted operating margin at 20.4% amid a continued very unsettled environment

Very solid integrated 2022 performance

Growth in sales: +19.2%

Adjusted operating margin: 20.4% of sales

Rise in adjusted¹ net profit attributable to the Group: +26.8%

Free cash flow: €1,036 million

CSR roadmap achievement rate: 123% in 2022

Ongoing implementation of strategic roadmap

including 7 acquisitions over one year, of which 2 announced today

2023 full-year targets²

Sales excluding exchange rate impacts: +2% to +6%

Adjusted operating margin before acquisitions³ : ~20% of sales

² Excluding impacts linked to the Group's disengagement from Russia.

¹ Adjusted net profit attributable to the Group for 2022 is excluding the effect of expenses in the amount of €147.1 million corresponding to assets impairment in Russia. Growth in net profit attributable to the Group was +10.5%.

³ At 2022 scope of consolidation, excluding impacts linked to the Group's disengagement from Russia.

For more information, readers are invited to consult the press release of January 25, 2023.

Benoît Coquart, Legrand's Chief Executive Officer, commented:

"In 2022 we turned in another outstanding financial and extra-financial performance, very much in line with our mid-term targets despite unprecedented challenges linked to a continued very unsettled environment.

Sales rose a steep +19.2% to over €8.3 billion, reflecting strengthened competitive positions. Our profitability indicators remained very robust: adjusted operating margin came to 20.4% of sales and normalized free cash flow totaled 14.5% of full-year sales.

Our extra-financial performance was equally remarkable in 2022: in the first 12 months of our three-year 2022-2024 CSR roadmap, our achievement rate was 123%. This reflects our Group's commitment to responsible growth, in terms of the climate impact of our business and that of our partners, as well as our diversity and inclusion policy.

These achievements confirm once again the relevance of Legrand's model for growing our business and accelerating value creation. In the past five years, sales have increased by over 50% and our adjusted operating margin, free cash flow and ESG performance have all been exemplary.

Given the uncertain economic outlook, and driven by the unwavering, determined engagement of our teams, in 2023 Legrand will deploy initiatives to seize any growth opportunities that arise and to optimize its cost structures."

2023 full-year targets

In 2023, the Group will pursue its profitable and responsible development laid out in its strategic roadmap¹ . Taking into account the world's current macroeconomic outlook, with confidence in its model for creating integrated value, and excluding impacts linked to the Group's disengagement from Russia² , Legrand has set the following full-year targets for 2023:

• sales growth at constant exchange rates of between +2% and +6%, including a scope of consolidation effect of around +3%;

• an adjusted operating margin before acquisitions (at 2022 scope of consolidation, excluding Russia and related impacts) of around 20% of sales;

• at least 100% CSR achievement rate for the second year of its 2022-2024 roadmap.

¹ For more information, see Legrand press releases dated September 22, 2021 and March 29, 2022.

² For more information, see Legrand press release dated January 25, 2023.

2022 financial performance

Key figures

Consolidated data (in € millions)(1)	2021	2022	Change
Sales	6,994.2	8,339.4	+19.2%
Adjusted(2) operating profit	1,434.0	1,701.5	+18.7%
As % of sales	20.5%	20.4%
		20.7% before acquisitions(3)
Operating profit	1,344.1	1,446.5	+7.6%
As % of sales	19.2%	17.3%
Adjusted net profit attributable to the Group	904.5	(4) 1,146.6	+26.8%
As % of sales	12.9%	13.7%
Net profit attributable to the Group	904.5	999.5	+10.5%
As % of sales	12.9%	12.0%
Normalized free cash flow	1,074.1	1,210.4	+12.7%
As % of sales	15.4%	14.5%
Free cash flow	952.4	1,035.5	+8.7%
As % of sales	13.6%	12.4%
Net financial debt at December 31	2,524.2	2,318.9	-8.1%

(1) See appendices to this press release for definitions and indicator reconciliation tables.

(2) Adjusted operating profit is defined as operating profit adjusted for: (i) amortization and depreciation of revaluation of assets at the time of acquisitions and for other P&L impacts relating to acquisitions, (ii) assets impairment in Russia and, (iii) where applicable, for impairment of goodwill.

• (3) At 2021 scope of consolidation.
• (4) Adjusted net profit attributable to the Group for 2022 is excluding the effect of expenses in the amount of €147.1 million corresponding to assets impairment in Russia.

Consolidated sales

In 2022, full-year sales rose +19.2% from 2021 to reach €8,339.4 million.

Organic growth in sales was +9.7%, with +10.2% in mature countries and +8.1% in new economies. Buoyed by the Group's business momentum and its pricing power, these showings also result from very active supply chain management on a backdrop of pressure on procurement channels.

The impact of broader scope of consolidation was +3.0%. Based on acquisitions announced and their likely dates of consolidation, the full-year impact should be around +1.5% in 2023.

The exchange-rate effect added +5.5% to sales for the year. Based on average exchange rates in the month of January 2023, the full-year impact on 2023 sales should be around -2%.

	2022 / 2021	th quarter 2022 / 4th quarter 2021 4
Europe	+9.8%	+8.0%
North and Central America	+11.1%	+12.4%
Rest of the world	+6.6%	+2.8%
Total	+9.7%	+8.5%

Changes in sales by destination at constant scope of consolidation and exchange rates by region:

These changes are analyzed below by region:

• Europe (40.1% of Group revenue): full-year growth at constant scope of consolidation and exchange rates was +9.8%.

In Europe's mature countries (33.9% of Group revenues), organic growth in sales came to +10.0% over the year, including +12.5% in the fourth quarter alone. 2022 performance was more particularly driven by the success of energy-consumption management products and charging solutions for electric vehicles.

Sales in Europe's new economies rose +8.8% over the year, including a -8.4% decline in the fourth quarter alone, with a negative impact from the war between Russia and Ukraine since the second quarter. Legrand has decided to divest its Russian ¹ operations and is currently reviewing options for transferring their control in a timely and orderly manner. Russia accounted for around 1.5% of the Group's full-year sales in 2022.

• North and Central America (40.5% of Group revenue): sales increased +11.1% at constant scope of consolidation and exchange rates over the year.

In the United States alone (37.2% of Group revenue), organic sales rose +11.3%, including +11.9% in the fourth quarter alone. Full-year growth was driven by sales for non-residential applications and for datacenters.

In 2022, sales rose sharply in Mexico and increased in Canada.

• Rest of the world (19.4% of Group revenue): sales marked an organic rise of +6.6% over the year.

In Asia-Pacific (12.5% of Group revenue), sales were up +6.3% in 2022, with a -2.5% negative trend in the fourth quarter alone. Growth over 12 months reflected very robust momentum in India that significantly offset a marked retreat in China.

In Africa and the Middle East (3.6% of Group revenue), sales rose +13.9% over the year, and +21.1% in the fourth quarter alone. This reflects solid performances recorded over the full-year in both Africa and the Middle East, with double-digit gains in many countries.

In South America (3.3% of Group revenue), sales were almost unchanged at +0.2%, with a +4.0% rise in the fourth quarter alone. The full-year 2022 performance reflects an unsettled economic and political environment, particularly in Brazil.

¹ For more information, see Legrand press release dated January 25, 2023.

Adjusted operating profit and margin

In 2022, adjusted operating profit came to €1.7 billion, up +18.7% from 2021. This set adjusted operating margin at 20.4% of sales for the period.

Before acquisitions (at 2021 scope of consolidation), adjusted operating margin was 20.7% of 2022 sales, up +0.2 points from 2021.

Against a backdrop of persistently strong inflation throughout the year (with raw materials and components rising by around +12%, including some +4% in the fourth quarter alone), continued high front-running profitability reflects once again the Group's firm management of both expenses and sales prices.

Operating profit came to €1.4 billion including expenses in the amount of €147.9 million corresponding to assets impairment in Russia¹ .

Net profit attributable to the Group

At December 31, 2022, net profit attributable to the Group was up +10.5% from 2021 to total €1.0 billion. This €95 million increase resulted primarily from:

• a rise in operating profit (+€102 million);
• a favorable trend (+€24 million) in financial and foreign-exchange results; and
• a rise in corporate income tax (-€32 million).

Excluding expenses in the amount of €147.1 million corresponding to assets impairment in Russia, adjusted net profit¹ attributable to the Group rose +26.8% from 2021 to over €1.1 billion.

Cash generation and balance sheet structure

Cash flow from operations stood at €1.5 billion or 17.8% of sales in 2022, down one point from 2021.

Normalized free cash flow was equal to 14.5% of sales and up +12.7% from 2021.

Free cash flow came to €1.0 billion, at 12.4% of sales in 2022, against a backdrop of strengthened coverage of inventories linked to supply chain pressures and to priority given to customer service. Free cash flow of €419 million in the fourth quarter was particularly high, representing 19.2% of sales.

The ratio of net debt to EBITDA stood at 1.2 on December 31, 2022.

2022 extra-financial performance

In 2022, Legrand reached a 123% achievement rate for its 2022-2024 CSR roadmap, which is built around 4 pillars and 15 priorities² , contributing to 10 Sustainable Development Goals (SDGs).

Broken down along the 4 pillars, full-year achievement rates stood at 131% for diversity and inclusion, 148% for carbon footprint, 79% for the circular economy, and 127% as a responsible business. Specific achievements included:

• reduced carbon footprint: the Group's CO² emissions (Scopes 1 & 2) were down -15% year-on-year at current scope, far better than targets set for the year. These efforts came with stepped-up use of renewable energy (55% of electricity consumption at year-end 2022);

¹ For more information, see Legrand press release dated January 25, 2023.

² For more information, see Legrand press release dated March 29, 2022.

• improved diversity and inclusion: at year-end 2022, women in management positions ratio (defined as Grade Hay 14+) increased to 28.5%, and 44.5% of all employees already work in units awarded the "Gender Equality European & International Standard (GEEIS) Diversity" label, in some 30 countries;
• circular economy: average use of recycled plastics and metals in Legrand products was respectively 5% and 19%;
• as a responsible business: in 2022, Legrand extended its "Serenity On" program, which offers guaranteed standard cover, to include family members and a wider range of care, thus covering a scope of 77% of its total headcount in 2022. Moreover, nearly 96% of employees received at least 5 hours of training.

Legrand's responsible commitment was once again recognized by outside parties in 2022, with:

• inclusion in Euronext's Equileap Gender Equality Eurozone 100 and France 40 lists, companybenchmarks for promoting gender equality;
• the "Allié.es Leaders" prize at the 4th edition of the French awards by "L'autre Cercle" for corporate role models vis à vis the LGBT+ community¹ . This came as a recognition for individuals who distinguished themselves during the year for work promoting inclusivity to LGBT+ people at the workplace;
• inclusion, for the third year running, in Forbes' ranking of the World's Best Employers.

These awards recognize employees' investment to deploy the Group's CSR policy.

2022 dividend and capital allocation

Legrand's Board of Directors will ask the General Meeting of Shareholders to be held on May 31, 2023 to approve the payment of a dividend of €1.90 per share in respect of 2022. This represents a rise of +15.2% from 2021.

The ex-dividend date is June 2, 2023, with payment² on June 6, 2023.

Based on the Group's very strong showing over 5 years (2018-2022) as reflected in particular in excellent cash generation (total free cash flow: €4.8 billion), and confident in its value creation model for both the short- and mid-term, Legrand:

• confirms that it will be pursuing an ambitious policy of acquisitions, with a capital allocation policy in line with its mid-term model (at least 50% of free cash flow invested in bolt-on acquisitions);
• announces a share buyback program³ of a maximum amount of up to €500 million over 18 months.

Ongoing implementation of strategic roadmap

In 2022, the Group continued focused deployment of its strategic roadmap, with key actions including:

• strengthening its growth profile, with a particular focus on its faster expanding segments (energy efficiency solutions, datacenters and connected products). Together these segments represented 33% of total sales in 2022, which the Group ambitions to raise to 50% in the mid-term.

¹ "Rôles Modèles LGBT+ et Allié·es".

² This distribution will be made in full out of the distributable income.

³ The first phase will be deployed under Resolution 16 approved at the 2022 Annual General Meeting of Shareholders; the full program is available at legrandgroup.com website under "regulated information".

This program will then continue provided it is approved by shareholders in the new resolution submitted to the General Meeting to be held on May 31, 2023.

Shares will be acquired at market price for cancellation. This program will be suspended or adjusted in the event of a major acquisition. It will be deployed in addition to share buybacks made to deliver on performance share plans reaching maturity.

New offerings rolled out by Legrand this year included additions to:

• o its core infrastructure products ranges, including new-generation P31+ cable trays (ease of installation); B-type DX3 circuit breakers (for complex infrastructures); and Incara power-supply solutions for offices,
• o its faster expanding segments, including its new range of Smarther AC thermostats (energy efficiency), as well as Nexpand cabinets and accIAIM Infinium connection systems (datacenters). For commercial buildings, it launched new Uralife V smart emergency lighting solutions, and for residential buildings, connected user interfaces ranges such as New Plexo, Adorne with Netatmo, and Mallia senses, as well as new Drivia with Netatmo modules (for easier management of electric vehicle charging schedules);
• an ongoing external growth strategy based on bolt-on acquisitions representing acquired annual sales of around €200 million through 7 acquisitions over a year, including 2 announced today:
  • o Encelium, a US player in lighting systems for commercial buildings, with a particular focus on highly energy-efficient, connected products. Based in Boston (Massachusetts) in the US, Encelium has annual sales of over \$20 million, and
  • o Clamper, a Brazilian leader in surge protection devices, used in particular for photovoltaic infrastructures. Based in Belo Horizonte, Clamper has over 600 employees and annual sales of nearly €40 million;
• continued improvement of operational performance. Examples include:
  • o optimizing its industrial footprint,
  • o deploying global product platforms,
  • o stepping up investments in Industry 4.0, now in place at 80% of Legrand's main manufacturing sites;
• sustained deployment of CSR measures, including:
  • o doubling its target for reducing energy consumption from year-end 2021 to year-end 2023, now set at -15% at current scope (compared with -8% previously), and quadrupling on-site production of renewable energy between year-end 2022 and year-end 2021. This was achieved by equipping 22 sites with solar panels, of which 11 in 2022,
  • o commitment by 111 of key suppliers to decrease their CO² emissions by 2030,
  • o promoting the circular economy through product design processes as exemplified by the new Uralife V emergency lighting range, with CO2 emissions cut by an estimate of nearly 20% (by using plastic-free packaging and recycled materials, and by reducing net weight),
  • o actively promoting a more inclusive workplace environment through dynamic internal networks (Elle@Legrand for gender parity, Legrand Rainbow for LGBT+ employees, Black Professional Network),
  • o reducing power insecurity, one example being the active support provided to NGO Electriciens sans frontières (Electricians without borders) over the last 15 years to conduct nearly 265 projects in 44 countries, helping more than 3 million people get access to electricity.

Industry-benchmark integrated value creation over 5 years

The relevance of Legrand's growth model, its strategic choices, and successful execution have made it an industry-benchmark for financial and extra-financial value creation over the past 5 years. Since 2017, figures show:

• very strong growth in sales, up by a total of over +50%;
• adjusted operating margin equal to around 20% of sales over the period on average, despite (i) dilution from acquisitions, whose total impact was -1.1 points¹ over the period, and (ii) inflation in prices of raw materials and components that outpaced sales prices increase. Productivity gains achieved in the past 5 years have helped Legrand contain price increases despite surging inflation in both 2021 and 2022, improving its market positions while securing its long-term pricing power;
• a rise in adjusted net profit attributable to the Group of +83% and +49% increase in free cash flow;
• a significant fall in the negative external impacts of its business, reflected in particular in a -34% reduction in CO2 emissions linked directly to operations (Scopes 1 & 2);
• a rise in gender diversity, with the percentage of women amongst managers (Grade Hay 14+) standing at 28.5% (up from 22.1% in 2017), and for key executive positions (Grade Hay 20+) at 24.4% (up from 14.8% in 2017).

The Group plans to continue rolling out its strategic roadmap, and thus remain on track to generate integrated value in line with the mid-term targets announced² .

-----------------

All press releases are available at legrandgroup.com under "Regulated information".

¹ Cumulated dilution effects resulting from acquisitions announced in annual results published over the five years from 2018 to 2022.

² For more information, see press releases dated September 22, 2021, and March 29, 2022.

Consolidated financial statements for 2022 were adopted by the Board of Directors at its meeting on February 8, 2023 1 . These consolidated financial statements, a presentation of full-year results for 2022, and the related teleconference (live and replay) are available at www.legrandgroup.com.

KEY FINANCIAL DATES:

• 2023 first-quarter results: May 4, 2023 "Quiet period² " starts April 4, 2023
• General Meeting of Shareholders: May 31, 2023
• Ex-dividend date: June 2, 2023
• Dividend payment: June 6, 2023
• 2023 first-half results: July 31, 2023 "Quiet period² " starts July 1, 2023

ABOUT LEGRAND

Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for commercial, industrial and residential markets makes it a benchmark for customers worldwide. The Group harnesses technological and societal trends with lasting impacts on buildings with the purpose of improving life by transforming the spaces where people live, work and meet with electrical, digital infrastructures and connected solutions that are simple, innovative and sustainable. Drawing on an approach that involves all teams and stakeholders, Legrand is pursuing its strategy of profitable and responsible growth driven by acquisitions and innovation, with a steady flow of new offerings—including products with enhanced value in use (faster expanding segments: datacenters, connected offerings and energy efficiency programs). Legrand reported sales of €8.3 billion in 2022. The company is listed on Euronext Paris and is notably a component stock of the CAC 40 and CAC 40 ESG indexes. (code ISIN FR0010307819). https://www.legrandgroup.com

Investor relations Legrand Ronan Marc Tel: +33 (0)1 49 72 53 53 ronan.marc@legrand.com Press relations TBWA Corporate Tiphaine Raffray Mob: +33 (0)6 58 27 78 98 tiphaine.raffray@tbwa-corporate.com

¹ The Group's consolidated accounts at December 31, 2022 were approved by the Board of Directors on February 8, 2023. The statutory auditors' audit procedures on the consolidated financial statements have been performed. The certification report will be issued after finalization of verifications relating to the management report and on presentation in the format provided for by the ESEF Regulation (European Single Electronic Format) of accounts included in the annual financial report.

Appendices

Glossary

Adjusted operating profit: Adjusted operating profit is defined as operating profit adjusted for (i) amortization and depreciation of revaluation of assets at the time of acquisitions and for other P&L impacts relating to acquisitions, (ii) assets impairment in Russia and, (iii) where applicable, for impairment of goodwill.

Busways: electric power distribution systems based on metal busbars.

Cash flow from operations: Cash flow from operations is defined as net cash from operating activities excluding changes in working capital requirement.

CSR: Corporate Social Responsibility.

EBITDA: EBITDA is defined as operating profit plus depreciation and impairment of tangible and right of use assets, amortization and impairment of intangible assets (including capitalized development costs), reversal of inventory step-up and impairment of goodwill.

ESG: Environmental, Societal and Governance.

Free cash flow: Free cash flow is defined as the sum of net cash from operating activities and net proceeds from sales of fixed and financial assets, less capital expenditure and capitalized development costs.

KVM: Keyboard, Video and Mouse.

Net financial debt: Net financial debt is defined as the sum of short-term borrowings and long-term borrowings, less cash and cash equivalents and marketable securities.

Normalized free cash flow: Normalized free cash flow is defined as the sum of net cash from operating activities—based on a normalized working capital requirement representing 10% of the last 12 months' sales and whose change at constant scope of consolidation and exchange rates is adjusted for the period considered—and net proceeds of sales from fixed and financial assets, less capital expenditure and capitalized development costs.

Organic growth: Organic growth is defined as the change in sales at constant structure (scope of consolidation) and exchange rates.

Payout: Payout is defined as the ratio between the proposed dividend per share for a given year, divided by the net profit attributable to the Group per share of the same year, calculated on the basis of the average number of ordinary shares at December 31 of that year, excluding shares held in treasury.

PDU: Power Distribution Units.

UPS: Uninterruptible Power Supply.

Working capital requirement: Working capital requirement is defined as the sum of trade receivables, inventories, other current assets, income tax receivables and short-term deferred tax assets, less the sum of trade payables, other current liabilities, income tax payables, short-term provisions and short-term deferred tax liabilities.

Calculation of working capital requirement

In € millions	2021	2022
Trade receivables	728.5	958.1
Inventories	1,252.7	1,357.4
Other current assets	240.4	255.4
Income tax receivables	115.1	120.5
Short-term deferred taxes assets/(liabilities)	90.8	103.5
Trade payables	(810.5)	(852.5)
Other current liabilities	(774.3)	(795.1)
Income tax payables	(39.6)	(48.6)
Short-term provisions	(135.8)	(146.4)
Working capital requirement	667.3	952.3

Calculation of net financial debt

In € millions	2021	2022
Short-term borrowings	826,6	651.3
Long-term borrowings	4,485.9	4,014.4
Cash and cash equivalents	(2,788.3)	(2,346.8)
Net financial debt	2,524.2	2,318.9

Reconciliation of adjusted operating profit with profit for the period

In € millions	2021	2022
Profit for the period	905.1	999.5
Share of profits (losses) of equity-accounted entities	0.0	0.0
Income tax expense	351.9	383.8
Exchange (gains) / losses	1.5	0.4
Financial income	(6.8)	(45.8)
Financial expense	92.4	108.6
Operating profit	1,344.1	1,446.5
(i) Amortization & depreciation of revaluation of assets at the time of acquisitions and other P&L impacts relating to acquisitions, (ii) assets impairment in Russia1	89.9	226.8
Impairment of goodwill1	0.0	28.2
Adjusted operating profit	1,434.0	1,701.5

¹ Including expenses in the amount of €147.9 million corresponding to assets impairment in Russia (For more information, see Legrand press release dated January 25, 2023).

Reconciliation of EBITDA with profit for the period

In € millions	2021	2022
Profit for the period	905.1	999.5
Share of profits (losses) of equity-accounted entities	0.0	0.0
Income tax expense	351.9	383.8
Exchange (gains) / losses	1.5	0.4
Financial income	(6.8)	(45.8)
Financial expense	92.4	108.6
Operating profit	1,344.1	1,446.5
Depreciation and impairment of tangible assets (including right-of-use assets)	179.4	237.6
Amortization and impairment of intangible assets (including capitalized development costs)	127.0	146.6
Impairment of goodwill	0.0	28.2
EBITDA	1,650.5	1,858.9

Reconciliation of cash flow from operations, free cash flow and normalized free cash flow with profit for the period

In € millions	2021	2022
Profit for the period	905.1	999.5
Adjustments for non-cash movements in assets and liabilities:
Depreciation, amortization and impairment	310.1	416.0
Changes in other non-current assets and liabilities and long-term deferred taxes	90.5	80.9
Unrealized exchange (gains)/losses	11.5	(7.1)
(Gains)/losses on sales of assets, net	0.7	(0.6)
Other adjustments	0.2	(4.1)
Cash flow from operations	1,318.1	1,484.6
Decrease (Increase) in working capital requirement	(205.4)	(248.4)
Net cash provided from operating activities	1,112.7	1,236.2
Capital expenditure (including capitalized development costs)	(170.5)	(205.7)
Net proceeds from sales of fixed and financial assets	10.2	5.0
Free cash flow	952.4	1,035.5
Increase (Decrease) in working capital requirement	205.4	248.4
(Increase) Decrease in normalized working capital requirement	(83.7)	(73.5)
Normalized free cash flow	1,074.1	1,210.4

Scope of consolidation

2021	Q1	H1	9M	Full-year
Full consolidation method
Champion One	Balance sheet only	6 months	9 months	12 months
Compose	Balance sheet only	6 months	9 months	12 months
Ecotap			Balance sheet only	6 months
Ensto Building Systems				2 months
Geiger				Balance sheet only

2022	Q1	H1	9M	Full-year
Full consolidation method
Champion One	3 months	6 months	9 months	12 months
Compose	3 months	6 months	9 months	12 months
Ecotap	3 months	6 months	9 months	12 months
Ensto Building Systems	3 months	6 months	9 months	12 months
Geiger	Balance sheet only	6 months	9 months	12 months
Emos	Balance sheet only	Balance sheet only	Balance sheet only	9 months
Usystems		Balance sheet only	Balance sheet only	7 months
Voltadis			Balance sheet only	Balance sheet only
A. & H. Meyer			Balance sheet only	Balance sheet only
Power Control			Balance sheet only	Balance sheet only
Encelium				Balance sheet only

Disclaimer

This press release may contain forward-looking statements which are not historical data. Although Legrand considers these statements to be based on reasonable assumptions at the time of publication of this release, they are subject to various risks and uncertainties that could cause actual results to differ from those expressed or implied herein.

Details on risks are provided in the most recent version of Legrand Universal Registration Document filed with the Autorité des marchés financiers (Financial Markets Authority, AMF), which is available on-line on the websites of both AMF (www.amf-france.org) and Legrand (www.legrandgroup.com).

Investors and holders of Legrand securities are reminded that no forward-looking statement contained in this press release is or should be construed as a promise or a guarantee of actual results, which are liable to differ significantly. Therefore, such statements should be used with caution, taking into account their inherent uncertainty.

Subject to applicable regulations, Legrand does not undertake to update these statements to reflect events or circumstances occurring after the date of publication of this release.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy Legrand securities in any jurisdiction.