SECTION 1 -

The new shares will be entirely fungible with the existing shares and will be subject to all of the
provisions of the bylaws of NEW SERVICES HOLDING S.A. They will grant rights to all of
distributions after June 29, 2010 and will be admitted for trading on Euronext Paris as of the Ex-
Date (as defined in article 6.3 of the contribution agreement).
1.5.2 Contribution premium
The difference between the amount of the net assets and the nominal amount of the share capital
increase of the Beneficiary will be accounted for as the “contribution premium”.
On the basis of a net asset value of €1,009,185,385.63, and assuming a share capital increase of
€451,757,792, the contribution premium would amount to €647,427,593.63.
The contribution premium to which the existing and new shareholders of the Beneficiary will be
entitled will be recorded as a liability on Beneficiary’s balance sheet. It may be allocated as
decided by the Beneficiary’s shareholders’ meeting, in accordance with applicable principles.
1.6. Legal and tax aspects
Pursuant to the terms of the contribution agreement executed on April 19, 2010:
- from a legal standpoint:
o the contributing company and the beneficiary have agreed that the contribution
will be subject to the legal regime for spinoffs, in application of Article L 236-22
of the French Commercial Code, and to waive any joint liability between them,
particularly with regard to the liabilities of the contributing company, in
accordance with the provisions of Article L. 236-21 of the French Commercial
Code,
2 Assuming that the winding-up of Société d’Exploitation et d’Investissement Hôtelier – SEIH is completed by June
29, 2010.
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