EX-99 6 gpsiecpsummary.htm SUMMARY OF GROUP PROFIT SHARING, INCENTIVE AND EMPLOYER CONTRIBUTION PLAN (FRANCE)
Exhibit 99
SUMMARY OF THE GROUP PROFIT SHARING, INCENTIVE AND EMPLOYER CONTRIBUTION PLAN (FRANCE)
The following is an English summary of the Procter & Gamble Holding France S.A.S.’s Group Profit Sharing, Incentive and Employer Contribution Plan (France) (the “Plan”). The full text of the Plan in French follows this summary.
General — The Plan is an employee savings plan established on December 17, 1990 by agreement between Procter & Gamble S.A. (Procter & Gamble S.A. changed its name to Procter & Gamble Services France and then to Procter & Gamble Services Neuilly before its current name Procter & Gamble Holding France S.A.S.) together with its directly wholly-owned subsidiaries (with the exception of P&G Health France that is not part of this agreement), and those subsidiaries’ respective Work councils, in order to provide a means for eligible employees to save and invest their income, group profit sharing, and incentive remuneration. The most recent Plan agreement took effect on January 1, 2015, and was signed by Procter & Gamble Holding France S.A.S., Procter & Gamble France S.A.S., Procter & Gamble Pharmaceuticals France S.A.S., Procter & Gamble Amiens S.A.S., Procter & Gamble Blois S.A.S (together, “P&G France”) and their related Work councils. An amendment to the Plan to increase the Employer’s matching contribution was implemented as of FY 18/19, signed by the same parties. On July 1, 2021, Procter & Gamble Pharmaceuticals France has been legally merged with P&G Health France SAS with a retroactive effect on July 1, 2020 from a Tax and Local statutory accounting standpoint. As a result, Procter & Gamble Pharmaceuticals France has left the Plan agreement as of July 1, 2020.
In addition to the Plan, a collective Pension Savings plan (“PERCO”) was established for Procter & Gamble Holding France S.A.S and the following subsidiaries: Procter & Gamble France S.A.S., Procter & Gamble Pharmaceuticals France S.A.S, Procter & Gamble Blois S.A.S, and Procter & Gamble Seine S.A.S (which was merged with Procter & Gamble Holding France in February 2018). Procter & Gamble Pharmaceuticals has left the PERCO plan in July 2020 as a result of the merger with P&G Health France SAS. The PERCO is in place since January 1, 2013, for the aforementioned entities and was established in June 2016 for Procter & Gamble Amiens S.A.S.
Procter & Gamble Holding France S.A.S. is indirectly a wholly-owned subsidiary of The Procter & Gamble Company (the “Parent”). The Plan and the PERCO are subject to the laws and regulations of France. The assets of the Plan and of the PERCO are invested in five “Fonds Commun de Placement d’Entreprise” (“FCPE”) which are registered investment funds reserved to employees of P&G France subject to the laws and regulations of France.
Administration — Administration of the Plan and of the PERCO are executed by Procter & Gamble Holding France S.A.S. with the support of Natixis Investments Managers International (previously Natixis Asset Management), the fund manager and custodian of the funds units (“Natixis”). The five FCPE are under the supervision of the Conseil de Surveillance (“Monitoring Committee”) which is composed of both employee and employer representatives of P&G France. The fees of the Plan are born by P&G Holding France with respect to active employees and retirees for up to five years, and by the retiree after five years.
Participants Accounts and Investments Options — An account is maintained for each employee and reflects employee and employer contributions as well as employee withdrawals. Natixis sends annual account statements to participants. There is no provision for the allocation of income since the FCPEs do not pay dividends. Participants are permitted to invest into any of the five FCPEs; however, employee contributions generating a P&G matching contribution can only be invested in FCPE Groupe Procter & Gamble (Option D). Amounts may be transferred from one FCPE to another FCPE for both blocked and available funds with the exception of FCPE Groupe Procter & Gamble (Option D) out of which only unblocked funds may be transferred.
Participants may allocate their account balances to one or all of the following investment options offered by the Plan:

• | FCPE Groupe Procter & Gamble Actions (Option A) – The prospectus indicates that this fund is primarily invested in securities or in mutual funds which invest with a minimum of 60% in international securities and with a maximum of 40% in international interest rate products.

• | FCPE Groupe Procter & Gamble Obligations (Option B) – The prospectus indicates that this fund is primarily invested in Eurozone monetary products or in mutual funds which invest primarily in Eurozone monetary products.

• | FCPE Groupe Procter & Gamble 5000 (Option C) – The prospectus indicates that this fund is primarily invested in securities or in mutual funds invested at least at 90% in securities (Europe, United States, Asia and emerging countries) and with a maximum of 10% invested in Eurozone monetary products.

• | FCPE Groupe Procter & Gamble (Option D) – The prospectus indicates that this fund is invested at least at 90% in The Procter & Gamble Company common stock and with a maximum of 10% invested in US/Euro zone monetary products.

• | FCPE Groupe Procter & Gamble (Option F) – The prospectus indicates that this fund is invested at 80% in international bonds or in mutual funds which invest in international bonds, at 20% in “socially responsible investment” Euro bonds or in mutual funds which invest in “socially responsible” Euro bonds.

For the PERCO, investments in Option D are not possible. The other Options are accessible at the discretion of the employee.
Contribution and Vesting — Employees are eligible to the Plan three months after their start date with P&G France. Contributions are made by Plan participants as well as by P&G France as follows:
Employee Contributions:

• | Voluntary, periodic contributions – These are usually contributed on a monthly basis. They are eligible for matching contributions from P&G France. These contributions are automatically invested in Option D.

• | Voluntary, complementary contributions – Employees and retirees who invested in the plan during their employment may make complementary contributions whenever they wish, although these amounts receive no matching contributions. These contributions are invested at the discretion of the employee in one of the five FCPEs. These contributions may not exceed 25% of the gross annual remuneration of the employee or the gross annual pensions of retirees or pre-retirees.

• | Employee contributions are limited to no more than € 275 per month.

Employer Contributions:

• | Employer matching contributions – P&G France makes a matching contribution of 100 percent (for the first € 40 an employee contributes each month) and 50 percent (for any contributions the employee makes over € 40 for the month, subject to the monthly maximum employee contribution amount), based on employees’ voluntary periodic contributions, with a maximum threshold of € 157.50. These matching contributions are automatically invested in Option D.

• | Profit Sharing – P&G France calculates and distributes profit sharing contributions according to French law (“Participation”) as well as a supplementary profit-sharing agreement (“Interessement”). These amounts are invested at the discretion of the employee in one of the five FCPEs. If no investment direction is given by the employee, amounts are automatically invested either as per the last investment choice or, by default, in Option B (with a 50/50 split between PEE and PERCO for “Participation”, and 100% to PEE for “Interessement”).

All contributions are immediately 100 percent vested.
Contributions to the PERCO can be made by the employees through i) voluntary periodic contributions, ii) investment of the profit-sharing contribution and iii) investment of remaining vacation days (up to 10 per fiscal year) for which P&G France will contribute under certain age conditions.
Withdrawals — All contributions to the Plan are “blocked” for a period of five years beginning on November 1st of the calendar year in which the contribution was made. After this period, amounts are available for withdrawal without restriction. Under certain circumstances, as defined by law, a participant may withdraw “blocked” contributions. Requests must be submitted within six months of the circumstance occurring that allows for such early withdrawals. All amounts become immediately available for withdrawal upon the termination of employment.
Plan Termination – The Plan agreement was renewed by written agreement between P&G France and their related Work councils in December 2014 with effective date January 1, 2015, for an indefinite period.
In the event of Plan termination, the FCPE’s will either remain active or will be merged with other FCPEs. Plan participants will have the option to withdraw “unblocked” amounts or to remain invested. Future employee and employer contributions to the Plan would then be suspended. If a P&G subsidiary ceases to be a member of the group, that company will automatically cease to be a party to this agreement.