DISCOVER THE WORLD OF REXEL 16

GOVERNANCE

MESSAGE FROM IAN MEAKINS Chairman of the Board of Directors

In 2017, Rexel posted results in line with its financial targets. We are satisfied with the Group s performance, which reflects the relevance of the objectives presented at Capital Market Day in February 2017: accelerate organic growth, increase selectivity in capital allocation and strengthen financial structure, and finally, improve operational and financial performance.

These results, particularly 13.3 billion euros in sales, up 3.5% on a constant and same-day basis, demonstrate the accuracy of Rexel s strategic choices and its ability to adapt to an economic environment that remains uncertain, even if the underlying trend appears to be generally favorable. The Group remains well-positioned in its sector s high-growth markets: smart home, sustainable mobility, energy management, and large international infrastructure projects.

Furthermore, Rexel is continuing its digital transformation, allocating it 56% of the Group s total investments in 2017. Currently, 14% of sales are generated online (e-commerce and EDI), i.e. 1.9 billion euros, up 13% vs 2016.

With recurring net income up 16.4% to 291.2 million euros, Rexel is proposing a 5% increase in dividends up 0.42 euros this year, representing 44% of its recurring net income, consistent with its payout policy.

On behalf of the Board of Directors, I would like to reaffirm my confidence in the executive team: by capitalizing on its strong position in its markets, its close relationships with its customers and suppliers, its multi-sector expertise, and the skills and expertise of its teams, Rexel is on track to successfully transform its model and continue to accelerate its growth.