Derichebourg // 2020-2021 Universal Registration Document

5

Financial and accounting information Consolidated financial statements at September 30, 2021 Notes

Market value of derivative instruments 4.12.2

09-30-21

09-30-20

Assets

Liabilities

Assets

Liabilities

In millions of euros

Derivatives for interest-rate risks Derivatives for exchange-rate risk

Cash flow hedge Cash flow hedge

1.4 0.8 2.2

2.2 0.1 2.3

0.1 0.1

0.0 0.0

Amount of derivatives in the consolidated balance sheet

Interest rate risks 4.12.3 The Group determines the desired split of debt between fixed and variable rates based on forecast trends for interest rates and the hedging requirement set forth in the syndicated loan agreement. At September 30, 2021, 27% of the debt was under a variable rate.

The Group uses several types of interest rate risk management instruments to optimize its financial expenses and manage the fixed/variable rate split of its debt. The Group’s variable-rate debt is fully hedged. A 1% change in the three month Euribor would have no impact on the Group’s financial statements.

Breakdown of debt between fixed and variable rates

09-30-21

09-30-20

Fixed rate Variable rate

Total

Fixed rate Variable rate

Total

In millions of euros

Financial liabilities

727.3

246.7

974.0

421.2

273.4

694.6

Cash and cash equivalents Total financial liabilities

9.2

9.2

8.5

8.5

727.3

255.9

983.2 100%

421.2

281.9

703.1 100%

%

73%

27%

60%

40%

Net financial position after hedging

09-30-21

09-30-20

Less than 1 year

From 1 to 5 years

Beyond that period

Less than 1 year

From 1 to 5 years

Beyond that period

In millions of euros

Non-current financial debt Current financial debt Financial liabilities Non-current financial assets (excluding equity securities)

417.2

408.7

445.1

127.1

157.3 157.3

130.9 130.9

417.2

408.7

445.1

127.1

(4.2)

(4.5)

(4.3)

(4.0)

Current financial assets

(19.4)

(15.4)

Cash and cash equivalents

(787.5) (806.9) (649.7)

(361.9) (377.3) (246.4)

Financial assets

(4.2) 413.0 (170.0) 243.0

(4.5) 404.2

(4.3) 440.7 (170.0) 270.7

(4.0) 123.1

Net position before hedging

Interest rate derivatives

Net position after hedging

(649.7)

404.2

(246.4)

123.1

Derivative interest rate instruments by maturity

More than 5 years

Initial rate Less than 1 year From 1 to 2 years From 2 to 5 years

In millions of euros

Variable rate -> fixed rate derivative instruments: SWAP ARKEA EUR

0.56% 0.00% 0.00% 0.00% 0.00%

50.0 40.0 20.0 20.0 40.0

CAP BNP EUR

CAP CMUT EUR CAP LCL EUR CAP SGN EUR

Total derivative interest rate

170.0

DERICHEBOURG 2020/2021 Universal Registration Document 164