AXWAY_REGISTRATION_DOCUMENT_2017

AXWAY GROUP AND ITS BUSINESS ACTIVITIES

CORPORATE RESPONSIBILITY

CORPORATE GOVERNANCE

CONSOLIDATED FINANCIAL STATEMENTS

2017 ANNUAL FINANCIAL STATEMENTS

CAPITAL AND AXWAY SOFTWARE STOCK

INFORMATIONS ADMINISTRATIVES ETbJURIDIQUES

COMBINED GENERAL MEETING OFb6bJUNEb2018

Notes to the financial statements

NoteǾ14 Off-balance-sheet commitments and contingent liabilities

14.1 Contractual obligations

Payments due per period

Contractual obligations (in thousands of euros) Long-term liabilities Finance lease obligations Employee profit sharing Other financial liabilities Current bank overdrafts

Less than onebyear From 1-5 years

More than 5byears

31/12/2017

31/12/2016 31/12/2015

3,560

44,500

703

48,762

35,434

4,342

-

-

- - - -

-

7

40

914

2,556

3,470

3,686

3,803

-

- -

-

-

-

8

8

9

798

Total commitments recognized

4,481

47,056

703

52,240

39,136

8,983

Amount of the commitments per period

Other commercial commitments (in thousands of euros)

Less than onebyear From 1-5 years

More than 5byears

31/12/2017

31/12/2016 31/12/2015

Credit lines

- - - - -

- -

- -

- -

- -

- -

Letters of credit

Guarantees

630

417

1,047

1,096

1,055

4

Purchase obligations

- -

- -

- -

- -

- -

Other commercial commitments Total commitments not recognized

-

630

417

1,047

1,096

1,055

As part of the commitments received, Axway Software enjoys an unused overdraft line of €20Ǿmillion. Axway Software also has a €89Ǿmillion multi-currency credit line (see SectionǾ10.4) as of 31ǾDecember 2017.

The Group acquires some of its IT facilities, office fixtures and fittings and premises under operating lease contracts. The rental charges for the above totaled €10.3Ǿmillion inǾ2017, €10.9Ǿmillion inǾ2016 and €9.9Ǿmillion inǾ2015.

At 31ǾDecember 2017, the minimum annual payments due in the future under non-cancellable lease contracts were as follows:

Operating leases

(in thousands of euros)

2018 2019 2020 2021 2022

9,766 8,437 6,813 4,792 4,468

2023 and beyond

14,677 48,952

Total minimum future lease payments

These amounts do not suffice to estimate the impacts of IFRSǾ16.

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AXWAY - 2017 REGISTRATION DOCUMENT