DERICHEBOURG - Universal registration document 2019-2020

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Financial statements Consolidated financial statements for the year ended September 30, 2020, in compliance with IFRS Presentation of the Group

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Presentation of the Group

Lyrsa was founded in 1939. It operates 18 recycling centers (17 in Spain and 1 in Portugal). It operates 3 shredders (including one from prior to the Lyrsa acquisition, jointly owned with the Derichebourg Group through Reyfra), a center for the sorting of the metals derived from the crushingprocess,an aluminumrefineryand a lead refinery. The DerichebourgGroup made this acquisitionusing its available cash and existing credit lines. A new syndicated loan was set up following this acquisition. Lyrsa's activity is consolidatedin the Group's financial statementsas of January 1,2020 (ninemonthsof activityover the fiscal year). The DerichebourgGroup's strategy pursued through this acquisition is to duplicate the vertical integrationstrategy it is already implementing in France. This covers general recycling of scrap metal, as well as the developmentof niche businesses (flotation, refining), with high added value, made possibleby dense regional coverage. Derichebourg's objective is for Lyrsa's Ebitda (approximately 4% in 2019) to move closer towards, over several years, the France Group's Ebitda (approximately8%). This will be achievedthrough the following actions: sales synergies: pooling of customer contacts to ensure that the p Group benefits from the best sales opportunities at all times and cross-procurementof the two subsidiaries'specializedtools; developing Lyrsa's supplier base to improve unit margins, in p particular by targeting smaller suppliers in addition to the existing network; some cost synergies. p Spain is a dynamic market for the productionof electrical steel. While steel production is at around the same level as in France (around 15 MT), the share of steel producedby the electrical industry is close to 70%, whereas it is only 40% in France. Spain has a ferrous metals deficit, and imports scrapmetal from France in particular. Covid-19 healthcrisis andthe economic 1.2.2 consequences Until mid-March 2020,the Group's activities saw very little disruption from the Coronavirushealth crisis. The lockdown measures announced on March 16, 2020 with effect fromMarch 17,2020 had a sudden impact on the Group's business in France, its main countryof operation. Faced with this unprecedentedhealth and economic shock, the Group took the followingmeasures: Measuresto protectemployees Equipment for employees (social distancing, gel, masks, ventilation) p in accordance with the instructions of the public authorities and accordingto individualwork situations. Use of home working for office staff wherever possible during the p lockdownperiod.

Identity of theIssuer 1.1 Derichebourg is a public limited company created and domiciled in France with its registered headquarters at 119, avenue du Général Michel Bizot, 75012 Paris. Derichebourgis listed in compartmentB of the Euronextmarket. The Group’sbusinessactivitiesare as follows: EnvironmentalServices; p BusinessServices; p Holdingcompanies. p Many of Derichebourg’s Environmental Services’ operating properties are owned througha real estate investmentcompany. The consolidated financial statements for the period from October 1, 2019 to September 30,2020 were approved by Derichebourg’sBoard of Directorson December 3,2020. They reflect the financial position of the Company and its subsidiaries, and the Group’s interests in joint venturesand associatedcompanies. The financial statements are presented in millions of euros, unless otherwise stated. The amounts are rounded to the nearest hundred thousandeuros. All companies close their accounts on September 30, except for Dreyfus, SCEA du Château Guiteronde, SCI La Futaie, Derichebourg RecyclingMexico, SCI Elisa, SCI Angela, SCI des Chênes, SCI Garalter, SCI des Peupliers, SCI des Varennes, SCI des Châtelets, SCI de Saint Jean, SCI des Tilleuls, Servicios Integrales de Limpiezas Net, Grupo Net and Centro especial de servicios de limpiezaMadrid, which close their accountson December 31. Material events occurring over the fiscal year Acquisitionof the LyrsaGroup (renamed 1.2.1 Derichebourg España on September 1, 2020) On December 20, 2019, Derichebourg Environnement completed the acquisition of the Lyrsa Group, Spain's leading independent player in scrap metal recycling. The acquisition was completed following the signingof the acquisitionagreementon September 19,2019. DerichebourgEnvironnementacquired 100% of the investments held by Layro SA in Lajo y Rodriguez SA (Lyrsa), Aragonesa de Chatarras y Metales SA (Archamesa) and Recuperaciones Díaz SA (Redisa). Lyrsa also owned 50% of Reyfra (a company that operates a scrap metal shredder in Madrid), whose joint shareholder was Derichebourg Environnement. In the calendar year 2019, the Lyrsa Group'soperationscoveredby this acquisition generated revenue of €450 million (with the full consolidationof Reyfra) and an Ebitda of €17.3 million.Lyrsa processes approximately1 millionmetric tons of metal waste per year, including around 160,000 metric tons of non-ferrous metals. The Group has around650 employees. 1.2

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