Danone : 2018 Danone Shareholders' Meeting

Press release - April 26, 2018

2018 Danone Shareholders' Meeting

Danone Shareholders' Meeting was held today, chaired by Emmanuel Faber, Chairman and Chief Executive Officer.

55.75% of Danone's total outstanding share capital participated in this Shareholders' Meeting.

Danone's shareholders approved all resolutions submitted to a vote, including the statutory and consolidated financial statements for the 2017 fiscal year, and the proposed dividend of €1.90 per share, up +11.8% from 2016.

Furthermore, the Shareholders' Meeting decided to offer each shareholder the possibility to receive the dividend in cash or in DANONE shares.

The issuance price of these new shares issued in payment of the dividend is set at €57.17. It represents 90% of the average of the opening Danone share prices on Euronext Paris during the 20 trading days preceding the date of the Shareholders' Meeting less the amount of the dividend, rounded up to the nearest euro cent. If the dividend amount does not correspond to a whole number of shares, shareholders having opted for a dividend payment in shares will receive the number of shares immediately below, plus a payment of the balance in cash.

The new shares will be entitled to dividends as of January 1, 2018 and will carry the same rights as Danone's existing shares.

The ex-dividend date (or ex-date) is set on May 4, 2018, the record date being set on May 3, 2018. Shareholders may opt to receive dividends in cash or in shares from May 4, 2018 (included) to May 18, 2018 (included). Shareholders who do not exercise the option before this date will receive the dividend in cash only. The dividend will be payable - in cash or in shares when the option is exercised - from May 31, 2018.

In addition, the Shareholders' Meeting approved the appointments as new Directors of Michel Landel, Cecile Cabanis and Guido Barilla, as well as all proposed renewals of terms of office of the members of the Board of Directors. As announced in last December, Michel Landel becomes Lead Independent Director and Chairman of the Nomination and Compensation Committee.

Danone: 17, Boulevard Haussmann, 75009 Paris, France 1

Following the decision of the Board of Directors held today, the 4 committees of the Board are now composed as follows:

• - Audit Committee: Jean-Michel Severino (Chair), Frédéric Boutebba, Gaëlle Olivier and Lionel Zinsou-Derlin;

• - Nomination and Compensation Committee: Michel Landel (Chair), Clara Gaymard, Benoît Potier and Lionel Zinsou-Derlin;

• - Social Responsibility Committee: Virginia Stallings (Chair), Guido Barilla, Bettina Theissig and Serpil Timuray; and

• - Strategy Committee: Benoît Potier (Chair), Emmanuel Faber, Franck Riboud, Isabelle Seillier and Jean-Michel Severino.

The presentations to the Shareholders' Meeting are available on Danone's corporate website(www.danone.com). An overview of the voting results per resolution and a video webcast of the Shareholders' Meeting will be available onwww.danone.comas of April 27, 2018.

The option for the payment of the dividend for the 2017 fiscal year in shares is open to all shareholders of Danone, except for those residing in any country in which such an option would require registration with or approval by local security regulators. Shareholders residing outside of France must inquire about and comply with any local restrictions. Shareholders are responsible for determining the conditions and consequences of exercising the option which could apply under local laws; they are advised in particular to consult their tax advisors. In deciding for or against the payment of the dividend in shares, shareholders must consider the risks associated with a share investment in Danone.

About Danone(www.danone.com)

Dedicated to bringing health through food to as many people as possible, Danone is a leading global food & beverage company built on four businesses: Essential Dairy and Plant-Based Products, Waters, Early Life Nutrition and Advanced Medical Nutrition. Danone aims to inspire healthier and more sustainable eating and drinking practices, in line with its vision -Danone, One Planet. One Health- which reflects a strong belief that the health of people and the health of the planet are interconnected. Building on health-focused categories, Danone commits to operating in an efficient and responsible manner to create and share sustainable value. Danone holds itself to the highest standards in doing business, as reflected by its ambition to become one of the first multinationals certified as B Corp. With products sold in over 120 markets, Danone generated sales of €24.7 billion in 2017. Danone's portfolio includes leading international brands (Actimel, Activia, Alpro, Aptamil, Danette, Danio, Danonino, evian, Nutricia, Nutrilon, Volvic, among others) as well as strong local and regional brands (including AQUA, Blédina, Bonafont, Cow & Gate, Horizon, Mizone, Oikos, Prostokvashino, Silk, Vega).

Listed on Euronext Paris and on the OTCQX market via an ADR (American Depositary Receipt) program, Danone is a component stock of leading social responsibility indexes including the Dow Jones Sustainability Indexes, Vigeo Eiris, the Ethibel Sustainability Index, MSCI Global Sustainability, MSCI Global SRI Indexes and the FTSE4Good Index.

Danone: 17, Boulevard Haussmann, 75009 Paris, France

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