{"id":105,"date":"2026-05-19T22:50:03","date_gmt":"2026-05-19T20:50:03","guid":{"rendered":"https:\/\/sharesvaleo.demos2h.fr\/eg\/?page_id=105"},"modified":"2026-07-27T14:33:48","modified_gmt":"2026-07-27T12:33:48","slug":"foire-aux-questions","status":"publish","type":"page","link":"https:\/\/shares4u.valeo.com\/eg\/foire-aux-questions\/","title":{"rendered":"FAQ"},"content":{"rendered":"<section id=\"s2h-faq\" class=\"s2h-faq container   pt-0 pb-0 mt-0 mb-0    \">\n        <ul class=\"nav nav-pills ms-lg-5 s2h-faq-categories\">\n            \n                <ul class=\"nav-top-btn-group\"><li class=\"nav-item active\" role=\"presentation\" style=\"margin-top:-20px\"><button id=\"catid_all\" data-bs-toggle=\"pill\" data-bs-target=\"#tab_0\"  type=\"button\" role=\"tab\" aria-controls=\"tab_0\" aria-selected=\"true\"  aria-expanded=\"true\" class=\"text-uppercase\">All<\/button><\/li>\n        <li class=\"nav-item\" role=\"presentation\">\n        <button id=\"catid_3\" data-bs-toggle=\"pill\" data-bs-target=\"#tab_3\" \n            type=\"button\" role=\"tab\" aria-controls=\"tab_3\" \n            aria-selected=\"false\">\n            <span class=\"my-auto\">Context of the offer<\/span>\n        <\/button>\n        \n        <\/li>\n        <li class=\"nav-item\" role=\"presentation\">\n        <button id=\"catid_10\" data-bs-toggle=\"pill\" data-bs-target=\"#tab_10\" \n            type=\"button\" role=\"tab\" aria-controls=\"tab_10\" \n            aria-selected=\"false\">\n            <span class=\"my-auto\">Investment<\/span>\n        <\/button>\n        \n        <\/li>\n        <li class=\"nav-item\" role=\"presentation\">\n        <button id=\"catid_4\" data-bs-toggle=\"pill\" data-bs-target=\"#tab_4\" \n            type=\"button\" role=\"tab\" aria-controls=\"tab_4\" \n            aria-selected=\"false\">\n            <span class=\"my-auto\">Operation of the offer<\/span>\n        <\/button>\n        \n        <\/li>\n        <li class=\"nav-item\" role=\"presentation\">\n        <button id=\"catid_8\" data-bs-toggle=\"pill\" data-bs-target=\"#tab_8\" \n            type=\"button\" role=\"tab\" aria-controls=\"tab_8\" \n            aria-selected=\"false\">\n            <span class=\"my-auto\">Subscribing to the offer<\/span>\n        <\/button>\n        \n        <\/li>\n        <li class=\"nav-item\" role=\"presentation\">\n        <button id=\"catid_9\" data-bs-toggle=\"pill\" data-bs-target=\"#tab_9\" \n            type=\"button\" role=\"tab\" aria-controls=\"tab_9\" \n            aria-selected=\"false\">\n            <span class=\"my-auto\">Taxation and costs<\/span>\n        <\/button>\n        \n        <\/li>\n                <\/ul>\n            \n        <\/ul>\n       <div class=\"col tab-content\"><div class=\"tab-pane fade \" id=\"tab_3\" role=\"tabpanel\" aria-labelledby=\"catid_3\"><div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_3_1\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_3_1\" aria-expanded=\"false\" aria-controls=\"collapse_3_1\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> Why an employee shareholding offer? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_3_1\" class=\"collapse item-body\" aria-labelledby=\"heading_3_1\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>Valeo wishes to offer its collaborators the possibility to contribute to the Group\u2019s development and participate in its success, by becoming shareholders in the same way as the other shareholders of the Group.<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_3_2\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_3_2\" aria-expanded=\"false\" aria-controls=\"collapse_3_2\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> Where do the shares offered to employees come from? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_3_2\" class=\"collapse item-body\" aria-labelledby=\"heading_3_2\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>The shares offered under the Shares4U offering come from a capital increase authorised by Valeo\u2019s Board of Directors, within the limit of an overall envelope of 1,200,000 Valeo shares.<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_3_3\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_3_3\" aria-expanded=\"false\" aria-controls=\"collapse_3_3\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> What is a share? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_3_3\" class=\"collapse item-body\" aria-labelledby=\"heading_3_3\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>A share is an ownership security representing a fraction of a company\u2019s share capital. All issued shares together make up Valeo\u2019s share capital. The Valeo shares offered under the Shares4U offering are listed shares on Euronext Paris (ISIN code FR0013176526).<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_3_4\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_3_4\" aria-expanded=\"false\" aria-controls=\"collapse_3_4\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> What is an FCPE (Fonds Commun de Placement d\u2019Entreprise)? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_3_4\" class=\"collapse item-body\" aria-labelledby=\"heading_3_4\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>An FCPE is a collective investment undertaking reserved for employees, allowing a portfolio of securities to be held collectively. Its assets are divided into units or fractions of units, managed by an asset management company on behalf of, and in the exclusive interest of, the unitholders. The FCPE regulations are subject to approval by the Autorit\u00e9 des March\u00e9s Financiers (AMF). A Supervisory Board, composed of representatives of employee unitholders and management, oversees the proper management of the FCPE in the interest of the unitholders. The elected members of the Supervisory Board exercise the voting rights attached to the Valeo shares held by the FCPE, on your behalf. Each FCPE unit corresponds to the same fraction of the fund\u2019s assets. Holders who own units of the FCPE have a co-ownership right proportional to the number of units held.<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<\/div><div class=\"tab-pane fade \" id=\"tab_10\" role=\"tabpanel\" aria-labelledby=\"catid_10\"><div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_10_17\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_10_17\" aria-expanded=\"false\" aria-controls=\"collapse_10_17\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> What happens to your investment once you have subscribed to the offer? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_10_17\" class=\"collapse item-body\" aria-labelledby=\"heading_10_17\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>Your investment is made through the FCPE Shares4U Relais 2026, which is intended to merge with the FCPE\u00a0Valeorizon, subject to the approval of the FCPE Supervisory Board and after AMF approval.\u200b<\/p>\n<p>The value of your investment will depend on the evolution of the Valeo share price, both upwards and downwards.\u200b<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_10_18\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_10_18\" aria-expanded=\"false\" aria-controls=\"collapse_10_18\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> Who represents your rights within the FCPE? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_10_18\" class=\"collapse item-body\" aria-labelledby=\"heading_10_18\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>The elected members of the FCPE Supervisory Board represent the unitholders and exercise on your behalf the voting rights attached to the Valeo shares held by the fund.\u200b<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_10_19\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_10_19\" aria-expanded=\"false\" aria-controls=\"collapse_10_19\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> How can you follow the value of your savings? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_10_19\" class=\"collapse item-body\" aria-labelledby=\"heading_10_19\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>From the beginning of 2027, you will receive an annual statement showing the value of your savings. This will be sent to you electronically at the email address that you will have provided upon subscription.\u200b <\/p>\n<p>You may also follow the evolution of your investment by connecting to your personal space on Amundi ESR\u2019s website, using the access codes provided to you.<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_10_20\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_10_20\" aria-expanded=\"false\" aria-controls=\"collapse_10_20\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> What happens if you leave the company? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_10_20\" class=\"collapse item-body\" aria-labelledby=\"heading_10_20\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>In the event of termination of your employment contract with Valeo (excluding intra-group mobility), you may, subject to the conditions set out in the PEGI rules, request the release of your assets or leave them invested in the PEGI. The detailed terms and conditions are set out in the Valeo PEGI rules.\u200b<\/p>\n<p>&nbsp;<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_10_21\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_10_21\" aria-expanded=\"false\" aria-controls=\"collapse_10_21\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> When are my assets available? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_10_21\" class=\"collapse item-body\" aria-labelledby=\"heading_10_21\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>The shares\/units subscribed under this offer are blocked until 30 June 2031. The Free Shares, for their part, are available as soon as they are actually delivered on 30 November 2029, subject to compliance with the presence condition provided for.<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_10_22\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_10_22\" aria-expanded=\"false\" aria-controls=\"collapse_10_22\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> What are the early release events? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_10_22\" class=\"collapse item-body\" aria-labelledby=\"heading_10_22\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>You have the possibility of unblocking your assets before the end of the lock-up period in certain specific cases provided for by law. To see the exhaustive list of these cases and the request procedures, including the supporting documents required, please refer to the Local Supplement Egypt available on shares4u.valeo.com.<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<\/div><div class=\"tab-pane fade \" id=\"tab_4\" role=\"tabpanel\" aria-labelledby=\"catid_4\"><div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_4_6\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_4_6\" aria-expanded=\"false\" aria-controls=\"collapse_4_6\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> How is the Valeo share value determined? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_4_6\" class=\"collapse item-body\" aria-labelledby=\"heading_4_6\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>The reference price is the average listed price of Valeo shares (opening prices) over the 20 trading days preceding the date on which the subscription price is fixed by the Chief Executive Officer of Valeo, acting upon delegation of the Board of Directors, scheduled for 14 September 2026. The subscription price after a 20% discount will be communicated as from 15 September 2026.<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_4_7\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_4_7\" aria-expanded=\"false\" aria-controls=\"collapse_4_7\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> What is a 20% discount? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_4_7\" class=\"collapse item-body\" aria-labelledby=\"heading_4_7\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>Based on the reference price of Valeo shares, you benefit from a 20% discount. As a result, the price at which you subscribe for Valeo shares is reduced by 20%. This preferential condition allows you to acquire more shares for the same amount invested and to mitigate, to some extent, the impact of any decline in the Valeo share price, without eliminating the risk of capital loss.<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_4_8\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_4_8\" aria-expanded=\"false\" aria-controls=\"collapse_4_8\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> What are the risks of investing in FCPE\u00a0Valeorizon? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_4_8\" class=\"collapse item-body\" aria-labelledby=\"heading_4_8\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>Your savings will be invested entirely in Valeo listed shares via the FCPE\u00a0Valeorizon, which exposes your investment to fluctuations in the Valeo share price, both upwards and downwards. You are therefore exposed to a risk of capital loss.\u200b<\/p>\n<p>The 20% discount and Valeo\u2019s financial contribution improve the subscription conditions but do not eliminate the risk of capital loss.<\/p>\n<p>Given the concentration of risk on a single share, it is recommended to diversify all of your savings across the other investment options offered in the Valeo PEG.\u200b<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<\/div><div class=\"tab-pane fade \" id=\"tab_8\" role=\"tabpanel\" aria-labelledby=\"catid_8\"><div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_8_9\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_8_9\" aria-expanded=\"false\" aria-controls=\"collapse_8_9\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> How does Valeo\u2019s contribution work? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_8_9\" class=\"collapse item-body\" aria-labelledby=\"heading_8_9\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>Valeo supports your investment through the free allocation of additional shares for each payment tranche, according to the rule set out in the brochure. These Free Shares will be delivered to the FCPE\u00a0Valeorizon and you will receive a corresponding number of units.\u200b<\/p>\n<p>The minimum amount to invest is \u20ac10.<\/p>\n<p>By investing \u20ac2,000, you will receive the maximum number of free shares corresponding to a gross matching contribution of \u20ac1,000 allocated as follows:<\/p>\n<ul>\n<li>100% on investments up to and including \u20ac400 representing a maximum gross matching contribution of \u20ac400.<\/li>\n<li>50% on investments above \u20ac400 and up to and including \u20ac1,200 representing a maximum gross matching contribution of \u20ac800<\/li>\n<li>25% on investments above \u20ac1,200 and up to and including \u20ac2,000 representing a maximum gross matching contribution of \u20ac1,000<\/li>\n<\/ul>\n<p>Of course, if you wish, you may contribute more, within the limit of 25% of your annual gross remuneration: you will then continue to benefit from the discount.<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_8_10\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_8_10\" aria-expanded=\"false\" aria-controls=\"collapse_8_10\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> When can I subscribe? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_8_10\" class=\"collapse item-body\" aria-labelledby=\"heading_8_10\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>The offer runs for a limited period of time. The subscription period is from 15 September 2026 to 29 September 2026 inclusive. Subscription requests made outside of this period will not be processed.\u200b<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_8_11\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_8_11\" aria-expanded=\"false\" aria-controls=\"collapse_8_11\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> How do I subscribe? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_8_11\" class=\"collapse item-body\" aria-labelledby=\"heading_8_11\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>If you meet the eligibility conditions, you can subscribe for Valeo shares directly online:<\/p>\n<ul>\n<li>directly online on the shares4u.valeo.com website, using the personal access codes that will have been sent to you by e-mail or handed to you in person;<\/li>\n<li>or by completing the subscription form, dating and signing it, then returning it to your local HR department before 29 September 2026, date of receipt being binding.<\/li>\n<\/ul>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_8_12\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_8_12\" aria-expanded=\"false\" aria-controls=\"collapse_8_12\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> How much can I invest? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_8_12\" class=\"collapse item-body\" aria-labelledby=\"heading_8_12\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><ul>\n<li>at least \u20ac10;<\/li>\n<li>at most 25% of your annual gross remuneration.<\/li>\n<\/ul>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_8_14\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_8_14\" aria-expanded=\"false\" aria-controls=\"collapse_8_14\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> What happens if requests for subscription exceed the number of Valeo shares available for the offering? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_8_14\" class=\"collapse item-body\" aria-labelledby=\"heading_8_14\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>The Board of Directors of Valeo SE decided on 26 February 2026 upon the implementation of an offering of shares reserved for employees up to the limit of 1,200,000 Valeo ordinary shares listed on Euronext Paris (ISIN FR0013176526).<\/p>\n<p>If the number of shares requested for subscription (in all participating countries) exceeds 1,200,000, it will be necessary to reduce subscriptions as follows\u202f:\u200b<\/p>\n<ul>\n<li>Step 1: all requests for subscription for an amount that is equal to or less than\u00a0 \u20ac3,000 will be met in full.<\/li>\n<li>Step 2: for all requests for subscription in excess of \u20ac3,000, any subscription above this amount will be met in proportion to the number of shares requested and not yet met.<\/li>\n<\/ul>\n<p>If and only if after Step 1 the number of shares to be allocated would be in excess of the limit of 1,200,000 shares, then the reduction calculation shall be implemented as follows: the higher requests for subscription shall be reduced by successive levelling until the 1,200,000 number of shares offered under Shares4U 2026 is reached.<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_8_28\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_8_28\" aria-expanded=\"false\" aria-controls=\"collapse_8_28\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> Is it possible to modify your subscription? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_8_28\" class=\"collapse item-body\" aria-labelledby=\"heading_8_28\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>Yes, you can modify your subscription until the last day of the subscription period, which is 29 September 2026.<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<\/div><div class=\"tab-pane fade \" id=\"tab_9\" role=\"tabpanel\" aria-labelledby=\"catid_9\"><div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_9_15\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_9_15\" aria-expanded=\"false\" aria-controls=\"collapse_9_15\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> What is the tax framework of this offer? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_9_15\" class=\"collapse item-body\" aria-labelledby=\"heading_9_15\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>The tax treatment of your investment is subject to local Egypt legislation. For detailed information regarding the tax consequences of participating in the Shares4U plan, please refer to the \u201cLocal Supplement\u201d for Egypt and available on the shares4u.valeo.com website or upon request from your local Human Resources department.<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<\/div><div class=\"tab-pane fade\" id=\"tab_0\" role=\"tabpanel\" aria-labelledby=\"catid_0\"><div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_0_1\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_0_1\" aria-expanded=\"false\" aria-controls=\"collapse_0_1\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> Why an employee shareholding offer? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_0_1\" class=\"collapse item-body\" aria-labelledby=\"heading_0_1\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>Valeo wishes to offer its collaborators the possibility to contribute to the Group\u2019s development and participate in its success, by becoming shareholders in the same way as the other shareholders of the Group.<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_0_2\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_0_2\" aria-expanded=\"false\" aria-controls=\"collapse_0_2\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> Where do the shares offered to employees come from? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_0_2\" class=\"collapse item-body\" aria-labelledby=\"heading_0_2\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>The shares offered under the Shares4U offering come from a capital increase authorised by Valeo\u2019s Board of Directors, within the limit of an overall envelope of 1,200,000 Valeo shares.<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_0_3\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_0_3\" aria-expanded=\"false\" aria-controls=\"collapse_0_3\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> What is a share? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_0_3\" class=\"collapse item-body\" aria-labelledby=\"heading_0_3\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>A share is an ownership security representing a fraction of a company\u2019s share capital. All issued shares together make up Valeo\u2019s share capital. The Valeo shares offered under the Shares4U offering are listed shares on Euronext Paris (ISIN code FR0013176526).<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_0_4\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_0_4\" aria-expanded=\"false\" aria-controls=\"collapse_0_4\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> What is an FCPE (Fonds Commun de Placement d\u2019Entreprise)? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_0_4\" class=\"collapse item-body\" aria-labelledby=\"heading_0_4\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>An FCPE is a collective investment undertaking reserved for employees, allowing a portfolio of securities to be held collectively. Its assets are divided into units or fractions of units, managed by an asset management company on behalf of, and in the exclusive interest of, the unitholders. The FCPE regulations are subject to approval by the Autorit\u00e9 des March\u00e9s Financiers (AMF). A Supervisory Board, composed of representatives of employee unitholders and management, oversees the proper management of the FCPE in the interest of the unitholders. The elected members of the Supervisory Board exercise the voting rights attached to the Valeo shares held by the FCPE, on your behalf. Each FCPE unit corresponds to the same fraction of the fund\u2019s assets. Holders who own units of the FCPE have a co-ownership right proportional to the number of units held.<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_0_6\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_0_6\" aria-expanded=\"false\" aria-controls=\"collapse_0_6\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> How is the Valeo share value determined? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_0_6\" class=\"collapse item-body\" aria-labelledby=\"heading_0_6\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>The reference price is the average listed price of Valeo shares (opening prices) over the 20 trading days preceding the date on which the subscription price is fixed by the Chief Executive Officer of Valeo, acting upon delegation of the Board of Directors, scheduled for 14 September 2026. The subscription price after a 20% discount will be communicated as from 15 September 2026.<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_0_7\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_0_7\" aria-expanded=\"false\" aria-controls=\"collapse_0_7\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> What is a 20% discount? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_0_7\" class=\"collapse item-body\" aria-labelledby=\"heading_0_7\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>Based on the reference price of Valeo shares, you benefit from a 20% discount. As a result, the price at which you subscribe for Valeo shares is reduced by 20%. This preferential condition allows you to acquire more shares for the same amount invested and to mitigate, to some extent, the impact of any decline in the Valeo share price, without eliminating the risk of capital loss.<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_0_8\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_0_8\" aria-expanded=\"false\" aria-controls=\"collapse_0_8\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> What are the risks of investing in FCPE\u00a0Valeorizon? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_0_8\" class=\"collapse item-body\" aria-labelledby=\"heading_0_8\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>Your savings will be invested entirely in Valeo listed shares via the FCPE\u00a0Valeorizon, which exposes your investment to fluctuations in the Valeo share price, both upwards and downwards. You are therefore exposed to a risk of capital loss.\u200b<\/p>\n<p>The 20% discount and Valeo\u2019s financial contribution improve the subscription conditions but do not eliminate the risk of capital loss.<\/p>\n<p>Given the concentration of risk on a single share, it is recommended to diversify all of your savings across the other investment options offered in the Valeo PEG.\u200b<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_0_9\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_0_9\" aria-expanded=\"false\" aria-controls=\"collapse_0_9\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> How does Valeo\u2019s contribution work? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_0_9\" class=\"collapse item-body\" aria-labelledby=\"heading_0_9\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>Valeo supports your investment through the free allocation of additional shares for each payment tranche, according to the rule set out in the brochure. These Free Shares will be delivered to the FCPE\u00a0Valeorizon and you will receive a corresponding number of units.\u200b<\/p>\n<p>The minimum amount to invest is \u20ac10.<\/p>\n<p>By investing \u20ac2,000, you will receive the maximum number of free shares corresponding to a gross matching contribution of \u20ac1,000 allocated as follows:<\/p>\n<ul>\n<li>100% on investments up to and including \u20ac400 representing a maximum gross matching contribution of \u20ac400.<\/li>\n<li>50% on investments above \u20ac400 and up to and including \u20ac1,200 representing a maximum gross matching contribution of \u20ac800<\/li>\n<li>25% on investments above \u20ac1,200 and up to and including \u20ac2,000 representing a maximum gross matching contribution of \u20ac1,000<\/li>\n<\/ul>\n<p>Of course, if you wish, you may contribute more, within the limit of 25% of your annual gross remuneration: you will then continue to benefit from the discount.<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_0_10\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_0_10\" aria-expanded=\"false\" aria-controls=\"collapse_0_10\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> When can I subscribe? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_0_10\" class=\"collapse item-body\" aria-labelledby=\"heading_0_10\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>The offer runs for a limited period of time. The subscription period is from 15 September 2026 to 29 September 2026 inclusive. Subscription requests made outside of this period will not be processed.\u200b<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_0_11\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_0_11\" aria-expanded=\"false\" aria-controls=\"collapse_0_11\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> How do I subscribe? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_0_11\" class=\"collapse item-body\" aria-labelledby=\"heading_0_11\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>If you meet the eligibility conditions, you can subscribe for Valeo shares directly online:<\/p>\n<ul>\n<li>directly online on the shares4u.valeo.com website, using the personal access codes that will have been sent to you by e-mail or handed to you in person;<\/li>\n<li>or by completing the subscription form, dating and signing it, then returning it to your local HR department before 29 September 2026, date of receipt being binding.<\/li>\n<\/ul>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_0_12\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_0_12\" aria-expanded=\"false\" aria-controls=\"collapse_0_12\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> How much can I invest? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_0_12\" class=\"collapse item-body\" aria-labelledby=\"heading_0_12\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><ul>\n<li>at least \u20ac10;<\/li>\n<li>at most 25% of your annual gross remuneration.<\/li>\n<\/ul>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_0_14\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_0_14\" aria-expanded=\"false\" aria-controls=\"collapse_0_14\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> What happens if requests for subscription exceed the number of Valeo shares available for the offering? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_0_14\" class=\"collapse item-body\" aria-labelledby=\"heading_0_14\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>The Board of Directors of Valeo SE decided on 26 February 2026 upon the implementation of an offering of shares reserved for employees up to the limit of 1,200,000 Valeo ordinary shares listed on Euronext Paris (ISIN FR0013176526).<\/p>\n<p>If the number of shares requested for subscription (in all participating countries) exceeds 1,200,000, it will be necessary to reduce subscriptions as follows\u202f:\u200b<\/p>\n<ul>\n<li>Step 1: all requests for subscription for an amount that is equal to or less than\u00a0 \u20ac3,000 will be met in full.<\/li>\n<li>Step 2: for all requests for subscription in excess of \u20ac3,000, any subscription above this amount will be met in proportion to the number of shares requested and not yet met.<\/li>\n<\/ul>\n<p>If and only if after Step 1 the number of shares to be allocated would be in excess of the limit of 1,200,000 shares, then the reduction calculation shall be implemented as follows: the higher requests for subscription shall be reduced by successive levelling until the 1,200,000 number of shares offered under Shares4U 2026 is reached.<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_0_15\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_0_15\" aria-expanded=\"false\" aria-controls=\"collapse_0_15\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> What is the tax framework of this offer? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_0_15\" class=\"collapse item-body\" aria-labelledby=\"heading_0_15\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>The tax treatment of your investment is subject to local Egypt legislation. For detailed information regarding the tax consequences of participating in the Shares4U plan, please refer to the \u201cLocal Supplement\u201d for Egypt and available on the shares4u.valeo.com website or upon request from your local Human Resources department.<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_0_17\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_0_17\" aria-expanded=\"false\" aria-controls=\"collapse_0_17\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> What happens to your investment once you have subscribed to the offer? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_0_17\" class=\"collapse item-body\" aria-labelledby=\"heading_0_17\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>Your investment is made through the FCPE Shares4U Relais 2026, which is intended to merge with the FCPE\u00a0Valeorizon, subject to the approval of the FCPE Supervisory Board and after AMF approval.\u200b<\/p>\n<p>The value of your investment will depend on the evolution of the Valeo share price, both upwards and downwards.\u200b<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_0_18\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_0_18\" aria-expanded=\"false\" aria-controls=\"collapse_0_18\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> Who represents your rights within the FCPE? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_0_18\" class=\"collapse item-body\" aria-labelledby=\"heading_0_18\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>The elected members of the FCPE Supervisory Board represent the unitholders and exercise on your behalf the voting rights attached to the Valeo shares held by the fund.\u200b<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_0_19\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_0_19\" aria-expanded=\"false\" aria-controls=\"collapse_0_19\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> How can you follow the value of your savings? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_0_19\" class=\"collapse item-body\" aria-labelledby=\"heading_0_19\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>From the beginning of 2027, you will receive an annual statement showing the value of your savings. This will be sent to you electronically at the email address that you will have provided upon subscription.\u200b <\/p>\n<p>You may also follow the evolution of your investment by connecting to your personal space on Amundi ESR\u2019s website, using the access codes provided to you.<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_0_20\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_0_20\" aria-expanded=\"false\" aria-controls=\"collapse_0_20\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> What happens if you leave the company? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_0_20\" class=\"collapse item-body\" aria-labelledby=\"heading_0_20\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>In the event of termination of your employment contract with Valeo (excluding intra-group mobility), you may, subject to the conditions set out in the PEGI rules, request the release of your assets or leave them invested in the PEGI. The detailed terms and conditions are set out in the Valeo PEGI rules.\u200b<\/p>\n<p>&nbsp;<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_0_21\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_0_21\" aria-expanded=\"false\" aria-controls=\"collapse_0_21\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> When are my assets available? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_0_21\" class=\"collapse item-body\" aria-labelledby=\"heading_0_21\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>The shares\/units subscribed under this offer are blocked until 30 June 2031. The Free Shares, for their part, are available as soon as they are actually delivered on 30 November 2029, subject to compliance with the presence condition provided for.<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_0_22\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_0_22\" aria-expanded=\"false\" aria-controls=\"collapse_0_22\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> What are the early release events? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_0_22\" class=\"collapse item-body\" aria-labelledby=\"heading_0_22\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>You have the possibility of unblocking your assets before the end of the lock-up period in certain specific cases provided for by law. To see the exhaustive list of these cases and the request procedures, including the supporting documents required, please refer to the Local Supplement Egypt available on shares4u.valeo.com.<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<div class=\"tab-content accordion-item\" data-aos=\"fade-zoom-in\"  data-aos-duration=\"650\" data-aos-delay=\"0\"  data-aos-easing=\"ease-in-out\">\n  <div class=\"accordion-header row\" id=\"heading_0_28\">\n    <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse_0_28\" aria-expanded=\"false\" aria-controls=\"collapse_0_28\"  >\n        <div class=\"col-2 col-md-1 col-xl-1 fleche-faq\"><svg class=\"arrow-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"0 0 16.95 29.38\"><defs><style>.j{fill:url(#h);}.k{clip-path:url(#b);}.k,.l,.m{fill:none;}.n{fill:#1c274c;}.o{fill:url(#e);}.l{clip-path:url(#f);}<\/style><clipPath id=\"b\"><rect class=\"m\" x=\"-1384.84\" y=\"637.51\" width=\"2494.97\" height=\"370.35\"\/><\/clipPath><radialGradient id=\"e\" cx=\"-137.36\" cy=\"1241.19\" fx=\"-137.36\" fy=\"1241.19\" r=\"1012.08\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#002f5a\"\/><stop offset=\".16\" stop-color=\"#002f5a\"\/><stop offset=\".27\" stop-color=\"#003260\"\/><stop offset=\".46\" stop-color=\"#004687\"\/><stop offset=\".69\" stop-color=\"#793e5c\"\/><stop offset=\".82\" stop-color=\"#d84e38\"\/><\/radialGradient><clipPath id=\"f\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><\/clipPath><radialGradient id=\"h\" cx=\"1189.84\" cy=\"2553.51\" fx=\"1189.84\" fy=\"2553.51\" r=\"1.38\" gradientTransform=\"translate(-2621073.16 4907676.7) scale(2201.56 -1921.46)\" xlink:href=\"#e\"\/><\/defs><path class=\"n\" d=\"m11.52,16.07c1.66-1.5,1.34-1.74,0-3C8.02,9.57,4.51,6.07,1.01,2.56.42,1.98.42,1.03,1.01.44S2.54-.15,3.13.44l13.07,13.07s0,0,0,0c0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0,.13.14.23.29.3.46.07.17.11.36.12.56h0v.02h0v.02c0,.2-.04.39-.12.56-.07.16-.17.32-.3.46,0,0,0,0,0,0,0,0,0,0,0,0h0s0,0,0,0h0s0,0,0,0c0,0,0,0,0,0L3.13,28.71c-.29.29-.68.44-1.06.44-.24,0-.47-.06-.69-.17,0,0-.21-.11-.37-.27-.33-.33-.87-1.14,0-2.12l10.51-10.51Z\"\/><g class=\"k\"><g class=\"c\"><g class=\"d\"><path class=\"o\" d=\"m-1384.84,539.48v482.39c297.07-175.28,643.5-275.88,1013.36-275.88s694.98,94.49,985.79,259.89c-366.25,445.99-921.94,730.51-1544.03,730.51-153.2.1-305.91-17.38-455.12-52.11v258.62H1110.13v-538.89c-143.05-158.23-310.43-292.63-495.82-398.14,116.33-141.61,212.62-298.54,286.17-466.4H-1384.84Z\"\/><g class=\"l\"><g class=\"g\"><rect class=\"j i\" x=\"-1567.78\" y=\"-7.23\" width=\"2860.84\" height=\"2496.87\" transform=\"translate(-666.04 109.86) rotate(-31.36)\"\/><\/g><\/g><\/g><\/g><\/g><\/svg><\/div>\n        <div class=\"col-10 col-md-11 px-0\">\n          <p class=\"question my-auto\"> Is it possible to modify your subscription? <\/p>\n        <\/div>\n      <\/button>\n          <\/div>\n  <div id=\"collapse_0_28\" class=\"collapse item-body\" aria-labelledby=\"heading_0_28\" data-parent=\"#glossaire-kbs\">\n    <div class=\"accordion-body row\">\n        <div class=\"col-2 col-md-1 col-xl-1\"><\/div>\n        <div class=\"col-10 col-md-11 px-0 content\"><p>Yes, you can modify your subscription until the last day of the subscription period, which is 29 September 2026.<\/p>\n<\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<\/div><\/div><\/section>\n    <script>\n    jQuery(document).ready(function ($) {\n    const $buttonAll = $('#catid_all');\n    const $tabTarget = $('#tab_0');\n\n    if ($buttonAll.length && $tabTarget.length) {\n        $buttonAll.addClass('active').attr('aria-selected', 'true');\n        $tabTarget.addClass('active show');\n    }\n   });\n   <\/script>\n\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"class_list":["post-105","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/shares4u.valeo.com\/eg\/wp-json\/wp\/v2\/pages\/105","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/shares4u.valeo.com\/eg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/shares4u.valeo.com\/eg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/shares4u.valeo.com\/eg\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/shares4u.valeo.com\/eg\/wp-json\/wp\/v2\/comments?post=105"}],"version-history":[{"count":4,"href":"https:\/\/shares4u.valeo.com\/eg\/wp-json\/wp\/v2\/pages\/105\/revisions"}],"predecessor-version":[{"id":275,"href":"https:\/\/shares4u.valeo.com\/eg\/wp-json\/wp\/v2\/pages\/105\/revisions\/275"}],"wp:attachment":[{"href":"https:\/\/shares4u.valeo.com\/eg\/wp-json\/wp\/v2\/media?parent=105"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}