DERICHEBOURG - Universal registration document 2019-2020

4

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

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 30,2020, 40%of the debt was under a variablerate.

The Group uses several types of interest rate risk management instruments to optimize its financial expenses and manage the fixed/variablerate 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 debtbetween fixed andvariable rates

09-30-20

09-30-19

Fixed rate Variable rate

Total

Fixed rate Variable rate

Total

In millions of euros

Financial liabilities

421.2

273.4

694.6

326.6

75.9

402.5

Cash and cash equivalents Total financial liabilities

8.5

8.5

7.0

7.0

421.2

281.9

703.1 100%

326.6

82.9 20%

409.5 100%

%

60%

40%

80%

Net financialpositionafter hedging

09-30-20

09-30-19

From 1 to 5 years

Beyond that

From 1 to 5 years

Beyond that period

Less than 1 year

period Less than 1 year

In millions of euros

Non-current financial debt Current financial debt Financial liabilities

445.1

127.1

207.7

117.0

130.9 130.9

84.8 84.8

445.1

127.1

207.7

117.0

Non-current financial assets (excluding investment securities)

(4.3)

(4.0)

(5.0)

(2.1)

Current financial assets

(15.4)

(20.2)

Cash and cash equivalents

(361.9) (377.3) (246.4)

(7.0)

Financial assets

(4.3) 440.7 (170.0) 270.7

(4.0) 123.1

(27.2)

(5.0) 202.7 (50.0) 152.7

(2.1) 114.9

Net position before hedging

57.6

Interest rate derivatives

Net position after hedging

(246.4)

123.1

57.6

114.9

Derivative interest rateinstruments by maturity

From 1 to 2 years

From 2 to 5 years

More than 5 years

Initial rate Less than 1 year

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 p 2019/2020 Universal Registration Document 165