Share Capital Breakdown as of 1st January 2013

At January 1, 2013, the capital of Boiron was as follows:

Change in dividend per share

Share issued

2009
in euros
2010
in euros
2011
in euros
2012
Number of shares 21,734,528 21,482,556 21,482,556 21,482,556
Adjusted master data pershare
Net income (6) 2.77 (4) 2.02 (5) 1.97 (5) 2.55
Cash flow (6) 5.05 (4) 4.63 (5) 4.02 (5) 5.91
Net dividend 0.7 0.7 0.7 0.9
Distribution rate 30% 35% 35% 35%
Closing Rate (adjusted data) 29.81 28.51 20.02 26.17
Return (Net Divided / Closing Rate) 2.35 2.46% 3.50% 3.44%
Price Earning Ratio (Year 2007) 10.76 14.11 10.16 11.32
Monthly average volume (adjusted data) 243,329 288,260 245,977 (6) 147,563
Market capitalization of Decembre 31 (in millions) 648 612 430 562

(*) Operating Income and net income for the year 2008 have been restated to reflect advertising and promotional the impact of costs recorded as expenses, in accordance to the amendment of IAS 38, by respectively €203 thousand and €149 thousand.

(1) Calculations taking into account 265,414 treasury shares held by the company at 12/31/2008.

(2) Calculations taking into account 256,084 treasury shares held by the company at au 12/31/2009.

(3) Calculations taking into account 8,027 treasury shares held by the company at au 12/31/2010.

(4) Calculations taking into account 71,267 treasury shares held by the company at au 12/31/2011.

(5) Calculations taking into account 2,071,122 treasury shares held by the company at 12/31/2012.

(6) Excluding the purchase of shares from Pierre Fabre SA.