Annual Report 2020

1. General Information

GrandVision N.V. (‘the Company’) is a public limited liability company and is incorporated and domiciled in Haarlemmermeer, the Netherlands. GrandVision N.V. is listed on the Euronext Amsterdam stock exchange. The Company's Chamber of Commerce registration number is 50338269. The address of its registered office is as follows: The Base, Evert van de Beekstraat 1-80, Tower C, 6th floor, 1118 CL Schiphol, the Netherlands.

At 31 December 2020, 76.72% of the issued shares are owned by HAL Optical Investments B.V. and 22.98% by institutional and retail investors, with the remaining shares held by GrandVision's Management Board (0.03%) and in treasury (0.27%). HAL Optical Investments B.V. is indirectly controlled by HAL Holding N.V. All HAL Holding N.V. shares are held by HAL Trust. HAL Trust is listed on the Euronext Amsterdam stock exchange.

On 31 July 2019, it was announced that EssilorLuxottica had agreed to acquire the 76.62% interest in GrandVision held by HAL Optical Investments B.V. GrandVision continues to support EssilorLuxottica with the shared objective to obtain regulatory approval for the closure of this acquisition within 12 to 24 months from the announcement date. The transaction has been unconditionally cleared so far in the United States, Colombia, Brazil, Mexico, and Russia and it is currently under review in the EU, Chile, and Turkey. On 18 July 2020, EssilorLuxottica initiated summary proceedings before the District Court of Rotterdam demanding that GrandVision provides to EssilorLuxottica additional information in relation to GrandVision's actions to mitigate the impact of COVID-19 on its business. On 24 August 2020, the District Court dismissed all claims made by EssilorLuxottica. EssilorLuxottica has appealed the decision of the District Court. On 30 July 2020, GrandVision announced that it had initiated arbitration proceedings against EssilorLuxottica in connection with the material breach notice EssilorLuxottica has sent to GrandVision. These proceedings are currently ongoing; they are confidential and non-public.

GrandVision N.V. and its subsidiaries (together, referred to as ‘the Group’) comprise a number of optical retail chains operated under different retail banners. As of 31 December 2020, the Group, including its associates and joint ventures, operated 7,260 (2019: 7,406) optical retail stores (including franchise stores). The average number of employees within the Group during 2020 (excluding the associates and joint ventures) in full-time equivalents was 33,542 (2019: 34,143).