AXWAY_REGISTRATION_DOCUMENT_2017

CORPORATE RESPONSIBILITY AXWAY GROUP AND ITS BUSINESS ACTIVITIES Research & Development, patents and licenses

CORPORATE GOVERNANCE

CONSOLIDATED FINANCIAL STATEMENTS

2017 ANNUAL FINANCIAL STATEMENTS

CAPITAL AND AXWAY SOFTWARE STOCK

INFORMATIONS ADMINISTRATIVES ETbJURIDIQUES

COMBINED GENERAL MEETING OFb6bJUNEb2018

1.4 Research & Development, patents and licenses

The Group has consistently spread its Research & Development efforts across its entire software package portfolio. They amount to the following:

2017 59.4

2016 53.3

2015 46.0

(in millions of euros)

Research & Development

These amounts relate to:

As of 11 April 2018, the Group has been granted 89 patents (Issued and/or Published), and has 3 pending. These patents are filed mainly in the United States and relate to the market segment covering security and integrity of exchanges. The Company’s business as a whole is not specifically dependent on a particular patent or technology (see Chapter 1, Section 3.6.1). The Company’s degree of dependence on patents and licenses is covered in Chapter 3, Sections 5.1.2 to 5.1.6 and Section 5.2.2.

● ongoing maintenance work;

● the convergence of the different technologies used;

● the release of new versions;Ǿand

● work on the IT architecture of the Axway AMPLIFY™ Platform, including API and Decision Insight. These Research & Development expenses, which relate mainly to the direct cost of software development staff, have been recognized in full as operating expenses.

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AXWAY - 2017 REGISTRATION DOCUMENT

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