AXWAY_REGISTRATION_DOCUMENT_2017

Axway profile

2

5

1

2017 Annual financial statements AFR 171 5.1 Balance sheet 172 5.2 Income statement 173 5.3 Notes to the annual financial statements 2017 174 5.4 Statutory Auditors’ report on the annual financial statements 192 5.5 Summary of results of Axway SoftwareǾSA forǾtheǾpast five fiscal years 197

Axway Group and its business activities

13

1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9

General situation in the enterprise software market 14

History of Axway

17 19 24 25 26

Strategy and activities

Research & Development, patents and licensesǾ AFR

Investments inǾ2017

Key figures

6

Simplified Group structure at 31ǾDecember 2017 29

Capital and Axway Software stock AFR

Group organization

30

199

Comments on the Group’s 2017 consolidated financial statements

32

6.1 6.2 6.3 6.4

General information Current ownership

200 201 205

1.10 Comments on the 2017 annual financial statements of Axway SoftwareǾSA

35 37 39 42

Changes in share capital

1.11 Strategy and targets forǾ2018

Shares held by the Company or on its behalf − share buyback program Issuance authorizations given to the Board ofǾDirectors of Axway – delegations granted byǾthe General MeetingsǾ AFR

1.12 Recent changes

206

1.13 Risk factors

6.5

208 214 215 215 215 216

2

Corporate responsibility

51

6.6 6.7 6.8 6.9

Share subscription option plans

Share price

2.1 2.2 2.3

Human Resources

52 60 64

Monthly trading volume

Environmental responsibility Corporate social responsibility

2017 share price performance

6.10 Dividend

Verifying auditors' report Year ended 31 December 2017

6.11 Information on takeover bids pursuant toǾArticleǾL.Ǿ225-37-5 ofǾtheǾFrench Commercial Code

67

216

3

Corporate governance

69

7

Legal and administrative information 217 7.1 Axway software at a glance 218 7.2 Board of Directors and executive management 219 7.3 Rights, privileges and restrictions attached toǾeach category of shares 223 7.4 General Meetings 224 7.5 Preparation and control of the Registration Document and certification of the person responsible for the Registration DocumentǾ AFR 227

3.1 3.2 3.3 3.4 3.5 3.6

Administrative bodies and executive management 70

Statutory AuditorsǾ AFR Regulated agreements

88 89

Report of the Board of Directors on corporate governance and internal controlǾ AFR

91

Information on company officers

103

Statutory Auditors’ special report on regulated agreements and commitments

104

3.7

Parent company financial statements, consolidated financial statements andǾappropriation of earnings

7.6 7.7

Provisional timetable for publication of results

229 229

107 108

Documents available for consultation

3.8

Other reports

8

Combined General Meeting ofǾ6ǾJuneǾ2018

4

Consolidated financial statements AFR

231

115

8.1 8.2 8.3

Explanatory statement

232 237 238

4.1 4.2 4.3 4.4 4.5 4.6

Consolidated statement of net income

116 118 119 120 121 164 169

Agenda

Statement of cash flows

Proposed resolutions

Statement of consolidated financial position

Changes in shareholders’ equity Notes to the financial statements

Statutory Auditors’ report on the consolidated financial statements

General remarks

244 245 246

Glossary

4.7

Subsidiaries and associated entities

Table of concordance

Table of concordance of social and environmental information

249

The information required in the Annual Financial Report is identified in the contents by the sigle AFR  AFR