Translation from the French for information purposes only

BELIEVE
A French Société anonyme à conseil d’administration
with a share capital of €. 503,543.93
Registered Office: 24 rue Toulouse Lautrec – 75017 Paris481 625 853 RCS Paris

ARTICLES OF ASSOCIATIONAs of June 20, 2024_______________

Certified true

TITLE 1
LEGAL FORM – PURPOSE – CORPORATE NAME – REGISTERED OFFICE –DURATION – FINANCIAL YEAR
Article 1 – Legal form
The company (hereinafter the "Company") is a société anonyme incorporated under French law. It isgoverned by applicable laws and regulations and by these articles of association.
Article 2 – Corporate purpose
The Company’s purpose, in France and abroad, is:-contribute to fostering and developing the wealth and diversity of cultural creation by facilitating
its production, dissemination, promotion and the widest possible distribution;-

the design, creation, development, management and operation of websites for its own account on
the Internet;-

the identification, production, promotion, distribution and dissemination of documents, soundrecordings, videotapes and all other entertainment materials in all forms (physical, digital, etc.) andon all media (press, Internet, mobile telephony, radio, television...), as well as music publishing;-

the conversion of all documents, sound recordings, videotapes and other entertainment materials
from a physical to an electronic medium;-the dissemination and publication in all forms and on all media of entertainment information;-

the production, organization, exploitation and diffusion of live shows, especially in the musicalfield;-and more generally, all activities related to entertainment, electronics, computing, the Internet,
mobile telephony, audiotel, office automation, production, advertising and marketing andbroadcasting; and-any industrial, commercial, financial, securities or real estate transactions directly or indirectly
related to the above-mentioned purpose or likely to promote the Company’s development.

Article 3 – Corporate name
The Company’s corporate name is "Believe".
In all deeds and documents issued by the Company and intended for third parties, the Company’s corporatename shall be immediately preceded or followed by the words "Société Anonyme" or the initials "S.A.", theregistration number of the Company at the trade and companies register and the amount of the Company’s
share capital.
Article 4 – Registered office
The registered office of the Company is located at 24 rue Toulouse Lautrec, 75017 Paris.
It may be transferred to any other location in France by decision of the board of directors, subject to
ratification of this decision by the next ordinary general meeting. In the event of a transfer decided by theboard of directors, the latter is authorized to amend the articles of association accordingly.
Article 5 – Duration
The Company’s term is 99 years from the date of its registration with the trade and companies register,
except in the event of early dissolution or if the term is extended.
Article 6 – Financial year
The financial year shall be of a duration of twelve months, starting on January 1st and ending on
December 31st of each year.
TITLE 2SHARE CAPITAL
Article 7 – Share capital
The share capital is set five hundred and three thousand five hundred and forty-three euros and ninetythree cents (€503,543.93).
It is divided into one hundred million seven hundred and eight thousand seven hundred and eighty-five(100,708,785) ordinary shares with a nominal value of half a euro cent (€0.005) each, fully released.

Article 8 – Changes in share capital
The share capital may be increased, reduced or redeemed in accordance with the law and these articles ofassociation.

TITLE 3
SHARES
Article 9 – Payment of shares
Shares subscribed for in cash in the course of a capital increase shall be performed in accordance withapplicable laws and regulations, as well as with the decisions of the general shareholders’ meetings and of
the board of directors of the Company.
Shares representing contributions in kind shall be fully paid up as soon as they are issued.
The shares may not represent industry contributions.
Article 10 – Form of shares
Fully paid-up ordinary shares may be held in registered or bearer form, at the option of the shareholder, in
accordance with the conditions set out in applicable laws and regulations.
As long as the Company’s shares are admitted to trading on a regulated market, the Company is entitled torequest the identification of holders of securities conferring immediate or future voting rights at its
shareholders’ meetings, as well as the quantities of securities held, under the conditions provided for by
applicable laws and regulations.
Article 11 – Rights and obligations attached to the shares
Each share gives the right to a share in the profits and the corporate assets of the Company, in proportion to
the amount of share capital it represents. In addition, each share gives the right to vote and to be
represented at general shareholders’ meetings, in accordance with legal and statutory requirements.
A double voting right is instituted in favor of fully paid-up shares that have been continuously held inregistered form by the same holder for a minimum period of two (2) years. For the purpose of calculating
this holding period, the period before the date of admission of the Company’s shares to trading on theEuronext Paris market is not taken into account.
In accordance with the provisions of Article L. 225-123 of the French Commercial Code, in the event of acapital increase by incorporation of reserves, profits or share premiums, double voting rights are granted assoon as they are issued to the new shares allocated free of charge to a shareholder in respect of existing
shares which already bear this entitlement.
This double voting right applies to all general shareholders’ meetings.
The double voting right automatically ceases when the relating share is converted to a bearer share ortransferred to another shareholder.
The shareholders only bear the Company losses up to the amount of their contributions.

The rights and obligations attached to a share shall be transferred to any owner thereof. Ownership of ashare automatically entails acceptance of the articles of association and the decisions of the generalshareholders’ meeting.
Whenever it is necessary to own several shares in order to exercise any right, isolated shares or shares held
in a number below the requisite do not give their owners any right against the Company, it being up to theshareholders to make, in this case, their own arrangements for the grouping of the necessary number ofshares.
Article 12 – Indivisibility of shares - Usufruct
1 - The shares are indivisible with respect to the Company.
The co-owners of undivided shares shall be represented at general shareholders’ meetings by one of themor by a single agent. In case of a disagreement, the agent shall be appointed in court at the request of themost diligent co-owner.
2 - If the shares are encumbered by usufruct, their account registration must show the existence of theusufruct. Unless the Company is notified of an agreement to the contrary by registered letter withacknowledgement of receipt, the voting right belong to the usufructuary at ordinary general shareholders’meetings and to the bare owner at extraordinary general shareholders’ meetings.
Article 13 – Transfer and sale of shares
Ordinary shares, whether registered or bearer, are freely negotiable, unless otherwise provided by law or
regulation. They are registered in an account and may be transferred from one account to another, as
regards the Company and third parties, in accordance with the procedures set out by applicable laws andregulations.
Article 14 – Crossing of statutory thresholds
As long as the Company’s shares are admitted to trading on a regulated market, in addition to the legal andregulatory thresholds, any individual or legal entity that comes to own directly or indirectly, alone or inconcert, a fraction of the share capital or voting rights (calculated in accordance with the provisions ofarticles L. 233-7 and L. 233-9 of the French Commercial Code and the provisions of the general regulationof the French Financial Markets Authority) equal to or greater than 1% of the share capital or voting rights,
or any multiple of this percentage, including above the thresholds provided for by applicable laws andregulations, must notify the Company of the total number (i) of shares and voting rights that it holds
directly or indirectly, alone or in concert, (ii) of securities giving future access to the Company’s sharecapital that it owns, directly or indirectly, alone or in concert, and of the potential voting rights attachedthereto, and (iii) of the shares already issued that this person may acquire by virtue of an agreement or afinancial instrument mentioned in article L. 211-1 of the French Monetary and Financial Code. This
notification must be made by registered letter with acknowledgement of receipt within four trading days ofcrossing the threshold.

The obligation to notify the Company also applies, within the same timeframe and under the same
conditions, when the shareholder’s holding in the share capital or voting rights falls below one of theabove-mentioned thresholds.
In the event of failure to comply with the above-mentioned obligation to notify the threshold crossing andupon request, recorded in the minutes of the general shareholders’ meeting, of one or more shareholders
representing at least 3% of the share capital or voting rights, the shares exceeding the fraction that shouldhave been declared shall lose their voting rights until the end of a period of two years following the date of
the corrective notification.
The Company reserves the right to inform the public and the shareholders either of the information notified
to it, or of any non-compliance with the above obligation by any relevant person.
TITLE 4
MANAGEMENT OF THE COMPANY
Article 15 – Board of directors
1 - Composition
The Company is administered by a board of directors of at least three and no more than eighteen members,
subject to the exceptions provided for by law.
The board of directors may appoint one or more non-voting members (observers), up to a maximum of
two. The observers are individuals or legal entities, selected among or outside the shareholders. The term ofoffice of the observers is four years, except in the event of resignation or early dismissal as decided by theboard of directors. The Board of Directors determines the terms and conditions of their mission, including
their compensation (if any). The non-voting members may be re-elected. They take part in the meetings ofthe Board of Directors and in the deliberations with an advisory vote.
2 - Appointment
During the existence of the company, the directors are appointed, renewed or dismissed under theconditions provided for by applicable laws and regulations and these articles of association.
3 - Functions
The term of office of directors is four years.
By exception, the general shareholders’ meeting may, in order to establish or maintain a principle ofstaggered renewal of the board of directors, appoint one or more directors for a different term of office notexceeding four (4) years, or reduce the term of office of one or more directors in office to less than four (4)years. The term of office of any director so appointed or whose term of office is modified for a period notexceeding four (4) years shall expire at the end of the ordinary shareholders’ meeting called to approve thefinancial statements for the previous fiscal year and held in the year during which the term of office of thesaid director expires.

Directors may be re-elected. They may be dismissed at any time by the ordinary general shareholders’meeting.
The directors shall not be older than 75. If a director exceeds this age-limit during his or her term of office,he or she will be deemed to have resigned automatically at the end of the next general shareholders’meeting. In addition, the number of directors over the age of 70 may not exceed one third of the directors in
office. When this limit is exceeded, the oldest director will be deemed to have resigned automatically at theend of the next general shareholders’ meeting.
The directors are subject to the applicable legal and regulatory provisions concerning the holding ofmultiple offices.
4 - Identity of directors
Directors may be individuals or legal entities. Any legal entity must, at the time of its appointment,
designate a permanent representative who is subject to the same conditions and obligations and incurs thesame liabilities as if he/she were a director in his/her own name, without prejudice to the joint and several
liability of the legal entity he/she represents.
The permanent representative shall have the same term of office as the legal entity he/she represents.
If a legal entity revokes the mandate of its permanent representative, it must notify the Company of thisrevocation and of the identity of its new permanent representative without delay, by registered letter. The
same applies in the event of the death, resignation or prolonged incapacity of the permanent representative.
5 – Compensation of directors
The general meeting may allocate to the directors, as compensation, a fixed annual sum, the amount of
which is maintained until a new decision is taken. Its allocation among the directors is determined by theboard of directors.
The directors may not receive from the Company any remuneration, permanent or otherwise, in respect of
their office as directors, other than provided for by law.
Article 16 – Deliberations of the Board
1 - The board of directors shall meet upon convening notice of its Chairman or of one of its members, as
often as the interests of the Company so require, it being specified that the frequency and duration of themeetings of the board of directors shall be such as to permit a thorough examination and discussion of thematters falling within the board’s competence.
The meeting takes place at the registered office or at any other place indicated in the convening notice.
The convening notice is made by any means, even verbally. The board of directors may validly deliberate,even in the absence of a convening notice, if all its members are present or represented.
Certain decisions of the board of directors may, under the conditions provided for by applicable laws andregulations, be taken by written consultation of the directors.

2 - The Board shall not validly deliberate unless at least half of its members are present.
Decisions are taken by a simple majority of the members present or represented. In the event of a tie, theChairman of the meeting has the casting vote.
In compliance with applicbale laws and regulations, the internal regulations of the boar dof directors may
provide that, for the purposes of calculating the quorum and majority, directors who participate in the
Board meeting by videoconference or telecommunication means that meet the technical characteristics set
out by applicable laws and regulations are deemed to be present.
Any director may give a proxy to another director to represent him or her at a meeting of the board of
directors, but each director may hold only one proxy per meeting.
3 - An attendance register is kept, which is signed by the members of the board of directors participating in
the Board meeting, both in their own name and as representative.
The deliberations of the board of directors are recorded in minutes signed by the chairman of the meetingand by at least one director who took part in the meeting. If the chairman of the meeting is unable to attend,
the minutes are signed by at least two directors.
4 - The board of directors shall establish its own rules of procedure in accordance with the law and thearticles of association. It may decide to set up committees to study questions that it or its chairman submits
to them for examination. The composition and powers of each of these committees, which carry out theiractivities under its responsibility, are determined by the board of directors in its internal regulations.
5 – The board of directors shall also establish by internal regulations the decisions and/or acts subject to its
prior authorization.
6 – All persons called upon to attend meetings of the board of directors are bound to discretion with regard
to the information provided and to a general obligation of secrecy.
Article 17 – Chairman of the board of directors
1 - The board of directors elects a chairman among its members who are individuals.
The chairman is appointed for the duration of his or her term as director. He or she may be re-elected.
The chairman of the board of directors shall not be older than 75. If the current chairman exceeds this agelimit, he is deemed to have resigned automatically.
In the event of the temporary incapacity or death of the chairman, the board of directors may delegate theduties of the chairman to a director.
In case of temporary impediment, this delegation is given for a limited period. It is renewable. In case ofdeath, it is valid until the election of a new chairman.

2 - The chairman of the board of directors organizes and directs the works of the board and reports to thegeneral shareholders’ meeting. He/She ensures the proper functioning of the Company’s bodies and, inparticular, that the directors are able to carry out their duties.
Article 18 – Executive management
1 - Mode of exercise
The executive management of the Company is assumed, under his/her responsibility, either by thechairman of the board of directors or by another individual appointed by the board of directors and bearing
the title of chief executive officer (directeur général).
The board of directors chooses between these two modes of exercising executive management at any timeand, at least, at the end of the term of office of the chief executive officer or of the chairman of the board of
directors when the latter is also responsible for the executive management of the Company.
The shareholders and third parties are informed of this choice pursuant to applicable legal and regulatory
provisions.
When the executive management of the Company is assumed by the chairman of the board of directors, thefollowing provisions relating to the Chief Executive Officer apply to him/her. In this case, he or she isgiven the title of chairman and chief executive officer (président-directeur général).
2 – Deputy general manager
On the proposal of the chief executive officer, the board of directors may appoint one or more individuals
to assist the chief executive officer, with the title of deputy chief executive officer (directeur général
délégué).
The number of deputy chief executive officers may not exceed two.
3 – Term of office - Compensation
The term of office of the chief executive officer or the deputy chief executive officers is determined at thetime of their appointment, without this term exceeding, where applicable, their term of office as director.
The chief executive officer and the deputy chief executive officers may not be older than 75. When thisage-limit is reached during the term of office, the executive concerned is deemed to have resigned
automatically.
The chief executive officer may be dismissed at any time by the board of directors. The same applies to thedeputy chief executive officers, on the proposal of the chief executive officer.
When the chief executive officer ceases or is prevented from exercising his functions, the deputy chief
executive officers retain, unless the board decides otherwise, their functions and powers until theappointment of a new chief executive officer.

The board of directors determines the remuneration of the chief executive officer and the deputy chief
executive officers.
4 – Powers
The chief executive officer is vested with the broadest powers to act in all circumstances on behalf of theCompany. He/She exercises these powers within the limits of the corporate purpose and subject to thosepowers expressly granted by law to the shareholders’ meetings and the board of directors.
He/She represents the Company in its relations with third parties. The Company is bound even by the actsof the chief executive officer that do not fall within the corporate purpose, unless it can prove that the third
party knew that the act exceeded that purpose or that he could not have been unaware of it in thecircumstances, it being excluded that the mere publication of the articles of association be sufficient toconstitute such proof.
Decisions of the board of directors limiting the powers of the chief executive officer are not enforceable
against third parties.
In agreement with the chief executive officer, the board of directors determines the scope and duration of
the powers granted to the deputy chief executive officers. The deputy chief executive officers have thesame powers with respect to third parties as the chief executive officer.
5 - The chief executive officer or the deputy chief executive officers may, within the limits set by current
legislation, delegate the powers they deem appropriate, for one or more specific purposes, to any agents,
even those who are not members of the Company, either individually or in a committee or commission,
with or without the option of substitution, subject to the limitations provided by law. These powers may bepermanent or temporary, and may or may not include the option of substitution. The delegations thus
granted shall remain in full force and effect notwithstanding the expiry of the duties of the person who
granted them.

TITLE 5
GENERAL MEETINGS
Article 19 – General meetings
1 - Convocation, place of meeting
General meetings are convened under the conditions, in the forms and within the time limits provided forby law.
They are held at the registered office or at any other place indicated in the convening notice.
2 - Agenda

The agenda of the meeting appears on the convening notices and letters; it is determined by the author of
the convening notice.
The meeting may only deliberate on the matters on its agenda; nevertheless, it may, under any
circumstances, dismiss one or more directors and proceed to their replacement.
One or more shareholders representing at least the percentage of share capital provided for by law, andacting in accordance with the legal conditions and time limits, may request that draft resolutions be
included in the agenda.
3 - Access to the meetings
All shareholders have the right to attend general shareholders’ meetings and to participate in the
deliberations, either personally or by proxy.
Any shareholder may participate, personally or by proxy, under the conditions set by the regulations inforce, in the meetings upon proof of identity and ownership of his/her/its shares in the form of theaccounting registration thereof under the conditions set by the legal and regulatory provisions in force.
If the board of directors decides to use telecommunication means, as published in the convening notice,
shareholders who participate in the meeting by videoconference or by telecommunication means, including
the internet, which allow them to be identified under the conditions provided for by applicale laws andregulations, shall be deemed to be present for the purposes of calculating the quorum and the majority.
Any shareholder may vote by mail or give a proxy in accordance with applicale laws and regulations, bymeans of a form drawn up by the Company and sent to the latter under the conditions provided for by
applicale laws and regulations, including by electronic or remote transmission, upon decision of the boardof directors. This form must be received by the Company in accordance with the conditions provided byapplicable law in order for it to be taken into account.
The minutes of the meeting are drawn up and their copies are certified and delivered in accordance withapplicale laws and regulations.
The legal representatives of legally incompetent shareholders and the individuals representing legal entities
that are shareholders may participate in the meetings, whether or not they are personally shareholders.
4 - Attendance sheet, bureau, minutes
An attendance sheet containing the information required by law is kept at each general shareholders’meeting.
The meetings are chaired by the chairman of the board of directors or, in his/her absence, by a director
delegated for this purpose by the board. Failing that, the meeting elects its own chairman.
The functions of scrutineers are fulfilled by the two members of the assembly, present and accepting thesefunctions, who have, by themselves or as proxies, the greatest number of votes.
The bureau appoints the secretary, who may be chosen from outside the shareholders.

The members of the bureau are responsible for verifying, certifying and signing the attendance sheet,ensuring the proper conduct of the debates, settling any incidents at the meeting, checking the votes cast,ensuring that they are in order and ensuring that the minutes are drawn up.
The minutes are drawn up and the copies or extracts of the deliberations are issued and certified inaccordance with the law.
5 – Ordinary general meeting
The ordinary general shareholders’ meeting is the one called to take all decisions that do not modify thearticles of association. It meets at least once a year, within six months from the end of each financial year,
to approve the financial statements for that year and the consolidated financial statements.
On first call, the ordinary general shareholders’ meeting may validly deliberate only if the shareholders
present or represented, or having voted by mail, hold at least one-fifth of the shares entitled to vote. No
quorum is required on second call.
Decisions are taken by a majority of the votes cast by the shareholders present, represented or having voted
by correspondence.
6 - Extraordinary general meeting
The extraordinary general shareholders’ meeting is the only body empowered to amend the articles ofassociation in all their provisions.
It may not, however, under any circumstances, except with the unanimous consent of the shareholders,increase the commitments of the latter, nor affect the equality of their rights, subject to operations resulting
from a regularly effected consolidation of shares.
The extraordinary general shareholders’ meeting may only validly deliberate if the shareholders present,
represented or having voted by correspondence hold at least, on the first call, one quarter of the shares withvoting rights and, on the second call, one fifth of the shares with voting rights. If the latter quorum is notreached, the second meeting may be adjourned to a date no later than two months after the date on which it
was convened.
Decisions are taken by a two-thirds majority of the votes cast by the shareholders present, represented or
having voted by correspondence.

TITLE 6

ANNUAL ACCOUNTS - DISTRIBUTION OF PROFITS
Article 20 – Annual accounts
The board of directors keeps regular accounts of the company’s operations and prepares annual financial
statements in accordance with the laws and standard business practices. A general shareholders’ meeting,called to approve the Company’s financial statements and consolidated financial statements for the pastfinancial year, must be held each year within six months of the end of the financial year, or, in the event ofan extension, within the time limit set by court order.
Article 21 – Distribution of profits
The result of each financial year is determined in accordance with the legal and regulatory provisions inforce.
At least 5% of the profit for the year, less any previous losses, shall be set aside to form the legal reserve.
This deduction ceases to be mandatory when this legal reserve reaches one tenth of the share capital.
The annual ordinary general shareholders’ meeting, or any other general shareholders’ meeting, may decideto distribute sums and/or values levied in cash or in kind from the reserves at its disposal, expressly
indicating the reserve items from which the deductions are made. However, dividends are deducted inpriority from the distributable profit for the financial year.
The general meeting may grant shareholders the option of receiving all or part of the dividend or interim
dividend in cash or in shares, in accordance with the conditions set out by applicable laws and regulations.
In addition, the general shareholders’ meeting may decide, for all or part of the dividend, interim dividend,
reserves or premiums distributed, or for any capital reduction, that this distribution of dividends, reserves or
premiums or this capital reduction shall be made in kind by delivery of Company’s assets.
The share of each shareholder in the profits and his contribution to the losses is proportional to its share in
the Company’s share capital.
TITLE 7LIQUIDATION – DISSOLUTION – DISPUTES
Article 22 – Dissolution - Liquidation
Except for cases of judicial dissolution provided by law, the dissolution of the Company shall take place atthe term provided for in the by-laws of the Company, by decision of the extraordinary generalshareholders’ meeting.
Except for cases of merger, demerger or if all shares have come to be held by a single shareholder, theexpiration or dissolution of the Company for any reason whatsoever shall entail the winding up of theCompany.

The dissolution has binding legal effects vis-à-vis third parties on the date of its publication on the tradeand companies register.
One or more liquidators, chosen from among shareholders or third parties, shall be appointed by acollective decision of the shareholders, except in case of judicial dissolution of the Company.
The liquidator shall represent the Company. He/she is vested with the broadest powers to dispose of theCompany’s assets, including through amicable settlements. He/she is also empowered to make payments tocreditors and distribute the remaining balance. He/she may only carry on the usual business of theCompany or initiate new business if he/she has been duly authorised to do so either by the Company’s
shareholders or by way of judicial decision if he/she was judicially appointed.
Any assets remaining after the repayment of the shares nominal value shall be distributed amongshareholders in proportion with their share in the capital.
Article 23 – Disputes
Any dispute arising during the life of the Company or during the winding up process, relating to theCompany’s matters or the interpretation or the enforcement of the by-laws of the Company, between the
Company and its shareholders or its corporate executives, or between its shareholders and its corporate
executives themselves, shall be brought to the jurisdiction of competent courts at the location of theregistered office.