5 years ago, Danone made a commitment to strengthen its economic Ecosystem by creating a 100 million general interest fund. Today, the Fund has co-created, in partnership with over 40 NGOs, around 50 programmes in over 25 countries that directly benefit 31,000 of Danone s small economic partners. I am therefore pleased to announce that this commitment has been upheld. Among the many things we ve learned from these 5 years on the field, two are particularly significant. First of all, the added value provided by co-creation between a company and an NGO is a reality. Together, and on a daily basis, we have shared our expertise, our networks and our know-how to build programmes that address local socio-economic issues. Second of all, even if these projects take time in order to be solid, the return on investment is indeed there, both in terms of a competitive advantage for Danone and socio-economic impact for communities. These new business models are fully in line with Danone s dual social and

economic project. After 5 years, it is clear that they are a key part of our vision and of our "Danone 2020" strategy. As their contributions have helped turn this ambition into a reality, I would like to thank all of the teams that were involved in these projects. They demonstrated entrepreneurial conviction, open minds and an ability to work hard. The individuals I m referring to are the Managing Directors of Danone s subsidiaries and their teams, the co-creation partners - who co-financed these projects to the tune of 40 million - and, last but not least, our shareholders - who demonstrated their trust in us when they agreed to the creation of Ecosystem Fund. Our commitment to a more inclusive economy is ongoing, and we will continue to share what we ve learned as often as possible.

Francisco Camacho Executive Vice-President Waters

THE FUND IN FIGURES

52

31 000

42

58

2

million

million

million

Ecosystem funding

People whose professional activity has been created

or reinforced

NGOs Partners

External funding

Indirect beneficiaries

Countries involved

54 Projects

25

40 Local

subsidiaries

Edito