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 annual financial statements 2017

4.7 Exceptional events and legal disputes To the Company’s knowledge, there are no exceptional events or legal disputes that may impact its financial position, business or results. 4.8 List of subsidiaries and equity investments Please refer to ChapterǾ4, SectionǾ4.7.2 “List of subsidiaries and equity investments” of this Registration Document. 4.9 Carbon balance The carbon balance performed by the Group is available in SectionǾ2, pointǾ2.2.4. 4.10 Events after the reporting period During its meeting on 6 April 2018, Axway's Board of Directors resolved to end Jean-Marc Lazzari's term of office as CEO and replace him with Patrick Donovan.

Bank guarantees A bank guarantee of €225Ǿthousand in place of a security deposit was arranged inǾ2012 when the PuteauxǾ1 lease was taken over. In MayǾ2013, a similar guarantee amounting to €41Ǿthousand was arranged when setting-up the new PuteauxǾ3 site, to which a supplemental amount of €62Ǿthousand was added on inǾ2015, following the lease of a new floor. After vacating the Puteaux 1 and PuteauxǾ3 sites, these bank guarantees were no longer necessary. The applicable banks were contacted in order to secure the return of these funds. Bank completion guarantees stood at €125Ǿ thousand at 31ǾDecember 2017. Guarantees of €177Ǿthousand were established in AugustǾ2014 to ensure the payment of tax liabilities. Retirement commitments At the end ofǾ 2017, the unfunded part of the retirement commitment stood at (-)€1,372Ǿthousand. Severance pay Severance pay for the Chief Executive Officer was set at $500Ǿthousand (or €417Ǿthousand at the dollar exchange on 31ǾDecember 2017).

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AXWAY - 2017 REGISTRATION DOCUMENT