EXEL Industries // 2020 Universal registration document

Consolidated fi nancial statements Notes to the consolidated fi nancial statements

Note 24 Related-party transactions

fi nancial current account; the amount of the current cash account amounted to €18 million at September 30, 2020 and is included in fi nancial debt (see note 14). EXEL Industries recorded a net interest expense of €313 thousand corresponding to an interest rate of 1-month Euribor + 1.5% under this cash management agreement. The service agreement signed between EXEL SAS and EXEL Industries for the provision of tax, legal and fi nancial administrative services was maintained during the 2019-2020 fi scal year Only one signi fi cant transaction was carried out. In September 2020, HARDI International sold the land and buildings of the Norre Alsev site to EXEL Real Estate Denmark for DKK 89 thousand.

24.1 Remuneration and bene fi ts paid in the fi scal year to corporate o ffi cers of the Group Remuneration and bene fi ts are analyzed in Chapter 7.4. 24.2 Transactions with other related parties Under the existing treasury agreement between EXEL SAS and EXEL Industries, the Group made payments or withdrawals from the

Note 25 O ff -balance sheet commitments and contingent liabilities

25.1 Guarantees given on fi nancial debt Certainmedium-term loans are guaranteed by pledges on equipment acquired. At September 30, 2020, the amount of these pledges was not material and represented less than 1% of the gross value of total property, plant and equipment of the Group. The stock in the Minworth Property UK real estate company was pledged as depreciable collateral for a bank loan, the outstanding principal of which was GBP 7 million at September 30, 2020. 25.2 Opening of medium-term credit lines In connection with possible acquisitions, EXEL Industries group’s banks granted it a medium-term credit line.

25.3 Guarantees given None.

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25.4 Other commitments To the best of the Group’s knowledge, it has not omitted to disclose any material o ff -balance sheet commitments in accordance with applicable accounting standards.

Note 26 Liquidity risk

No loans obtained by EXEL Industries from banks provide for prepayment provisions based on covenants. After performing a speci fi c review of its liquidity risk, the Company considers that it has the resources to honor its future payment obligations.

Note 27 Tax risk

To the best of its knowledge, the Group does not have any tax risks for which provisions have not been recorded.

EXEL Industries group I 2020 Universal Registration Document

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