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The 23-year-old Frenchman worked together with childhood idol Romain Bardet (DSM-Firmenich) to chase down solo leader Jan Tratnik (Visma Lease-a-bike) after the latter attacked 30km out from the finish.
With 5km to go and Tratnik in sight, Paret-Peintre went over the top of Bardet, before catching and passing Tratnik in one fell swoop to ride into the finish solo, marking an emotional first victory as a pro rider, and first race victory in almost four years.
“It's just amazing," Paret-Peintre said after the stage.
"I was there to get a good result in the stage and why not win? Now I have a stage win for my first professional win.
"I saw on the profile that the last four kilometres were the hardest and so I waited and waited on the last climb until I saw the last three kilometres, then I attacked."
While he couldn't stay with his younger countryman, Bardet came in second place on the stage and saw a huge jump in the general classification, moving up seven spots to seventh.
Tadej Pogacar (UAE Team Emirates) remained in the maglia rosa, but had to follow a late surge by Australian Ben O'Connor (Decathlon-AG2R La Mondiale) as the overall favourites approached the finish in an attempt to take precious seconds.
The race continues with Stage 11 tonight, a 207km course which starts out hilly but flattens in the second half and could be one for the sprinters if the peloton don't let another break get too much of a lead.