2021 Universal Registration Document

FINANCIAL STATEMENTS

Consolidated financial statements

Information on interest rates As of December 31, 2021, outstanding loans and credit lines, apart from NeuCP bonds, were contracted with floating rates ranging between 5.8% and 29%. The borrowings indicated for France consist exclusively of NeuCP issues, issued on average at -0.10% Relative exposure, deemed not significant, has not been hedged. Information on covenants: None of the current loans contains any covenant that could trigger early repayment of the debt.

to borrow, over a similar period and with similar security, the funds necessary to obtain an asset of similar value to the leased asset in a similar economic environment. Lease payment under IFRS 16 in 2021 Lease payments in 2021 in respect of leases falling within the scope of IFRS 16 for an amount of 15.5 million euros break down as follows: depreciation: 14.3 million euros; ● interest: 1.2 million euros. ●

Cash Flows for future years The Group is expected to pay 15.1 million euros in 2022.

IFRS 16 Liability

BIC has opted to use an incremental borrowing rate for discounting debt. The rate used for each lessee is the rate he would have to pay

Expected total lease payments, in millions of euros, are as follows:

2022

15.1

2023

11.8

2024

9.8

2025

6.2

2026

5.3

Beyond 2026

17.2

NOTE 17

PROVISIONS (NON-CURRENT LIABILITIES)

Accounting policies Provisions are recognized when the Group has a present obligation as a result of a past event, and it is probable that an economic outflow will be required to settle said obligation and such outflow can be reliably measured. Provisions will be measured at the best estimate of the expenditure required to settle the obligation at the balance sheet date, and will be discounted to present value where the effect is material

Tax and social risks and litigation

Other risks and charges

Litigation Product liability

Total

(in thousand euros)

At January 1, 2020

5,019

10,958

339

6,270

22,586

Acquisition of subsidiary – Djeep

180

10

-

786

975

Additional provisions

762

5,450

-

2,225

8,438

Reversals of provisions utilized

(664)

(1,939)

-

(819)

(3,422)

Reversals of provisions not utilized

(38)

(924)

-

(25)

(987)

Exchange differences

(430)

(1,141)

(28)

(431)

(2,030)

Reclassification

(984)

961

-

23

-

At January 1, 2021

3,845

13,375

311

8,029

25,560

Additional provisions

985

5,289

-

362

6,636

Reversals of provisions utilized

(821)

(3,575)

-

(1,798)

(6,194)

Reversals of provisions not utilized

(889)

(305)

-

(820)

(2,014)

Exchange differences

(6)

464

26

(39)

445

PIMACO disposal

(9)

(492)

-

-

(501)

Reclassification

-

(2,098)

-

(1,395)

(3,493)

Discount

-

-

-

(111)

(111)

At December 31, 2021

3,105

12,658

337

4,228

20,328

232

• BIC GROUP - 2021 UNIVERSAL REGISTRATION DOCUMENT •