Core Points - The Extraordinary General Assembly of the Caisse Régionale de Crédit Agricole Mutuel de la Touraine et du Poitou is scheduled for March 27, 2026, at 9 AM [1][4] - This will be followed by the Ordinary General Assembly on the same day at 10 AM [4] Agenda for the Extraordinary General Assembly - The agenda includes the partial renewal of the Board of Directors with 6 seats to be filled [7] - Authorization for the Board of Directors to reduce capital through the cancellation of Cooperative Investment Certificates (CCI) [8] - Powers for the completion of formalities [8] Agenda for the Ordinary General Assembly - Reading of the management report, governance report, and reports from the auditors [9] - Approval of the Board of Directors' report and annual accounts for the fiscal year ending December 31, 2025, along with discharge to the directors [9] - Approval of the consolidated accounts for the fiscal year ending December 31, 2025 [9] - Approval of the global accounts of the regional caisse and its affiliated local caisses for the fiscal year ending December 31, 2025 [9] - Approval of expenses as per Article 39-4 of the CGI [9] - Approval of regulated agreements [9] - Acknowledgment of the variation in share capital and approval of the reimbursement of social shares [9] - Allocation of the results for the fiscal year ending December 31, 2025, and determination of interest on social shares, remuneration of Cooperative Investment Certificates, and Cooperative Associate Certificates [9] - Partial renewal of the Board of Directors [9] - Authorization to operate on the Cooperative Investment Certificates of the regional caisse [9] - Setting the total amount for compensatory indemnities for past directors for the fiscal year 2026 as per Article 6 of the amended law of September 10, 1947 [9] - Consultative vote on the total remuneration allocated in 2025 to identified individuals [9] - Powers for the completion of formalities [9] Board of Directors - The outgoing directors eligible for re-election include Mr. Charly COUTOUIT, Mr. Gérard DESNOÉ, Ms. Nadine NASSERON, Ms. Hélène PLOU-VALLÉE, and Ms. Aurélie ROCHER [10] - New candidate: Ms. Marina GASPAR-TENREIRO, President of the local caisse of Saint Gervais les Trois Clochers [10] Additional Information - All preparatory information for the General Assemblies, including the text of resolutions and accounts for the fiscal year 2025, will be available on the regional caisse's website 15 days prior to the General Assembly [11] - Members can request documents or access them at the headquarters until five days before the Assembly [12]

Core Points - The document provides preparatory information for the Ordinary and Extraordinary General Meetings scheduled for March 27, 2026 [1] - A PDF version of the information is available on the regional Caisse website [1]

Company Overview - Criteo is positioned as a commerce intelligence and decisioning platform, moving beyond traditional ad tech [1] - The company focuses on AI-driven commerce solutions to enhance the shopping experience in a rapidly evolving market [1] Industry Positioning - Criteo operates at the center of the commerce ecosystem, connecting brands, retailers, and agencies to drive commerce outcomes [1] - The company offers cross-channel orchestration and decisioning capabilities to navigate an increasingly fragmented advertising landscape [2]

Criteo Conference Call Summary Company Overview - **Company**: Criteo (NasdaqGS:CRTO) - **Industry**: Ad Tech and Commerce Intelligence - **Positioning**: Transitioning from a traditional ad tech company to an AI-driven commerce intelligence platform focused on optimizing shopping experiences and driving commerce outcomes across a fragmented ecosystem [4][5] Key Insights and Core Arguments - **Market Scale**: Criteo processes over $1 trillion in commerce transactions annually, equating to approximately $3 billion daily. The company serves around 17,000 clients and has access to a catalog of over 5 billion SKUs, reaching 750 million daily active users, which can extend to over 3 billion when including social channels [5] - **Strategic Focus Areas**: - **Agentic Commerce**: Emphasizing the importance of AI and data-driven decision-making in commerce, with a focus on enhancing user experience and driving performance [6][15] - **Performance Media**: Aiming to revitalize this segment through full funnel, cross-channel, and self-service strategies [6][16] - **Retail Media**: Criteo holds a leading position with 235 retailers globally and aims to expand monetization opportunities and demand partnerships [6][18] Financial Performance and Market Trends - **Q4 Performance**: The company reported a solid holiday season, although there was some softness in U.S. department stores and year-on-year comparisons in the Asia Pacific region [13] - **Growth Strategy**: Criteo is focused on overcoming previous headwinds and driving underlying business growth, with performance media and retail media expected to accelerate throughout the year [14][30] Product Innovations - **Commerce Go**: A new self-service product aimed at small and mid-sized businesses, allowing for easy campaign setup with minimal clicks. Early transitions to this product have shown a 20% improvement in performance and increased media spend from existing clients [18][28] - **ChatGPT Partnership**: Criteo has integrated with ChatGPT to enhance ad discoverability, allowing advertisers to surface ads in contextually relevant situations, which is expected to drive significant interest and engagement [22][23] Competitive Positioning - **Cross-Channel Capabilities**: Criteo differentiates itself by maintaining performance consistency across channels, which aligns with marketers' needs for integrated campaigns rather than siloed channel strategies [39][40] - **Data Quality**: The company emphasizes the importance of high-quality data for effective product recommendations, which is crucial for the success of agentic commerce initiatives [60] Client Retention and Relationships - **High Retention Rate**: Criteo boasts a client retention rate of over 90%, attributed to delivering predictable results and acting as a full business partner for retail clients [45][46] Strategic Moves - **Re-domiciling**: Criteo is transitioning from France to Luxembourg, with plans to move to the U.S. by Q1 2027. This move aims to enhance capital allocation flexibility and improve index inclusion for shares [47][52] Capital Allocation Strategy - **Investment Priorities**: The company prioritizes investing in core business growth, followed by opportunistic acquisitions and returning capital to shareholders through buybacks [56] Underappreciated Opportunities and Challenges - **Incrementality of Agentic Commerce**: The potential for agentic commerce to unlock new revenue streams is often underestimated, as it can drive commerce that traditional methods could not [59] - **Data Quality Challenge**: The success of agentic platforms hinges on the availability of high-quality data for accurate product recommendations, which remains a critical challenge [60]

Safe Harbor Statement This presentation contains "forward -looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on our management's beliefs and assumptions and on information currently available to them. All statements other than present and historical facts and conditions contained in this presentation, including statements regarding our possible or assumed future results of operat ...

Core Insights - Criteo S.A. (NASDAQ:CRTO) is recognized as one of the best low-priced growth stocks to buy currently, with a forward price/earnings ratio of 3.87 [4] Group 1: Analyst Ratings and Price Targets - DA Davidson analyst Tom White lowered the price target for Criteo to $28.50 from $38 while maintaining a Buy rating after a Q4 earnings miss [2] - Susquehanna also reduced its price target for Criteo to $18 from $25, keeping a Neutral rating, citing mixed Q4 results and guidance [3] Group 2: Company Performance and Outlook - Criteo's Q4 earnings were below expectations, attributed to seasonal impacts from Retail Media client scope reductions and softer spending trends among fashion and department store advertisers [2] - Management indicated that the near-term revenue impacts from reduced scope with two retail media clients are expected to moderate over the course of 2026, potentially stabilizing performance in the latter half of the year [3]

Core Insights - The software sector has transitioned from being one of the hottest industries to one of the cheapest within a few months, presenting numerous investment opportunities [1] Group 1 - The current market conditions have led to a surplus of bargains in the software sector, indicating a potential shift in investment strategies [1] - Gary Alexander, with extensive experience in technology and investment, provides insights into the themes shaping the software industry today [1]

Core Insights - Criteo has become the first advertising technology partner to integrate with OpenAI's advertising pilot in ChatGPT, marking a significant advancement in AI-driven advertising [1] - The integration aims to enhance how advertising supports user discovery and consideration within Large Language Model platforms, focusing on user trust and relevance [1] - Criteo's data indicates that users referred from LLM platforms like ChatGPT convert at approximately 1.5 times the rate of other referral channels, highlighting the effectiveness of AI experiences in driving high-intent traffic [1] Company Overview - Criteo activates over $4 billion in annual media spend and collaborates with 17,000 advertisers globally, utilizing AI-driven decision-making technology to connect brands, retailers, and publishers [1] - The company provides commerce-focused advertising across various categories and environments, including emerging platforms like conversational AI [1] - Criteo's advertising platform has access to more than $1 trillion in annual commerce sales, enabling personalized shopping experiences [1] Future Developments - The integration with OpenAI will begin rolling out in the coming weeks as part of the ongoing advertising pilot in ChatGPT [1] - This pilot presents an opportunity for brands to evaluate their participation in advertising within ChatGPT while driving incremental demand back to retail and brand destinations [1]

Core Viewpoint - Criteo S.A. has received overwhelming shareholder approval for its redomiciliation from France to Luxembourg, which is expected to be completed in the third quarter of 2026, enhancing strategic flexibility and long-term value for shareholders [1][2]. Group 1: Shareholder Approval and Redomiciliation - Criteo's shareholders approved all proposals at the general meeting on February 27, 2026, marking a significant milestone for the company [1]. - The company anticipates completing the legal domicile transfer to Luxembourg in Q3 2026, subject to customary conditions [1]. Group 2: Strategic Benefits of the Conversion - The Board of Directors believes that the conversion and the transition from American Depositary Shares (ADSs) to ordinary shares listed on Nasdaq will enhance long-term shareholder value [4]. - Potential benefits include positioning Criteo for inclusion in U.S. indices, expanding access to passive investment capital, and increasing stock liquidity by eliminating fees and complexities associated with ADSs [6].

Financial Reporting and Compliance - Criteo's audited consolidated financial statements are prepared in accordance with GAAP and presented as of December 31, 2025[10] Business Strategy and Innovation - The company emphasizes the importance of innovation and adapting to rapidly changing technology to remain competitive[19] - Future success will depend on Criteo's ability to expand into new advertising channels and industry verticals[19] - Criteo's business transformation and global strategies are critical for achieving growth objectives[19] Client Concentration and Revenue Dependence - Criteo faces significant client concentration, with a limited number of clients accounting for a substantial portion of revenues in certain markets[19] - A substantial portion of the company's revenue is derived from a limited number of clients, indicating high client concentration risk[19] - The company derives a significant portion of its revenue from the retail, travel, and marketplaces industries, making it vulnerable to downturns in these sectors[19] Risks and Challenges - The company acknowledges risks related to data privacy and cybersecurity, which could impact its operations and reputation[19] - The company may face challenges in integrating acquisitions and realizing expected benefits from strategic transactions[19] - Criteo's future results may be difficult to predict due to fluctuations in operations and market conditions[19] - The company faces significant risks if it fails to innovate and adapt to rapidly changing technology, which could lead to less competitive offerings[19] - The company's revenue generation is heavily dependent on data collection from various sources, which may be restricted by consumer choice and regulatory changes[19] - Regulatory developments regarding internet matters could adversely affect the company's business operations[19] - The company is exposed to risks associated with international operations and market expansion[19] - Fluctuations in operational results due to various factors make future results difficult to predict[19] - Failures in systems and infrastructure supporting the company's operations could disrupt services and lead to client loss[19] Talent Management - There is intense competition for employee talent, and failure to retain skilled personnel could hinder the company's business objectives[19]