2021 Universal Registration Document

FINANCIAL STATEMENTS

Consolidated financial statements

The following table shows foreign currency equivalents of one euro (for instance: average 2021 is 1 euro = 1.18 U.S. dollars).

Average 2021

As of December 31, 2021

Foreign currency

Average 2020

As of December 31, 2020

Euro

Euro

Euro

Euro

U.S. dollar – USD

1.14

1.18

1.23

1.13

Australian dollar – AUD

1.66

1.57

1.59

1.56

Canadian dollar – CAD

1.53

1.48

1.56

1.44

Swiss franc – CHF

1.07

1.08

1.08

1.03

Chinese renminbi – CNY

7.87

7.62

8.02

7.19

British pound – GBP

0.89

0.86

0.90

0.84

Hong Kong dollar – HKD

8.85

9.19

9.51

8.83

Indian rupee – INR

84.52

87.39

89.66

84.23

Japanese yen – JPY

121.73

129.91

126.49

130.38

Korean won – KRW

1,344.90

1,353.80

1,336.00

1,346.00

Malaysian ringgit – MYR

4.79

4.90

4.93

4.72

New Zealand dollar – NZD

1.76

1.67

1.70

1.66

Philippine peso – PHP

56.57

58.27

59.13

57.76

Polish zloty – PLN

4.44

4.57

4.56

4.60

Swedish krona – SEK

10.49

10.15

10.03

10.25

Kenyan Shilling – KES

121.31

129.85

133.76

128.67

Nigerian Naira – NGN

434.00

481.54

466.30

480.35

South African rand – ZAR

18.74

17.47

18.02

18.06

Argentinian peso – ARS (1)

82.07

116.32

103.19

116.32

Brazilian real – BRL

5.88

6.38

6.37

6.31

Mexican peso – MXN

24.49

23.99

24.42

23.14

Ukrainian hryvnia – UAH

30.81

32.30

34.81

30.94

Russian ruble – RUB

82.48

87.13

91.47

85.30

At the closing date, non-monetary assets and liabilities are restated using the general price index IPIM (Internal Wholesale Price Index). Income statement items are restated by applying the change in this general price index from the initial recognition of income and expense items in the financial statements.

To date, there is no significant impact attributable to Brexit to report. The British subsidiary of BIC, BIC UK, has been importing most of its products from BIC factories located in the Euro zone for years and is invoiced in euros by these entities. The fluctuation of the GBP/EUR exchange rate is fully integrated into our foreign exchange risk management processes. The exposure of the United Kingdom amounted to 19.2 million euros as of December 31, 2021.

As of December 31, 2021, Argentina is still considered a “hyperinflationary” country. As a result, the Group continues to apply IAS 29. (1)

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• BIC GROUP - 2021 UNIVERSAL REGISTRATION DOCUMENT •