FFP_REGISTRATION_DOCUMENT_2017

FINANCIAL STATEMENTS

Consolidated financial statements

Information by asset type and geographical zone Non-current, non-consolidated financial assets break down as follows (including subscription commitments):

31/12/2017

31/12/2016

(in thousands euros) Listed securities Equities - Europe Unlisted securities Equities - Europe Private equity - Europe Private equity - Africa Private equity - Americas

3,174,949

2,631,558

328,341 156,112 132,555 101,861 100,410

159,002 263,767 238,221 146,844 115,340

Private equity - Asia

Other non-current financial assets

571

5,399

CARRYING AMOUNT AT 31 DECEMBER

4,098,694

3,456,236

Price sensitivity

31/12/2017

31/12/2016

Carrying amount

Carrying amount

Low

High

Low

High

(in thousands euros)

Available-for-sale securities Investments in non-consolidated companies Listed securities

3,213,934 2,571,147 3,856,721 2,617,775 2,094,220 3,141,330

Unlisted securities

127,479 745,210 12,071

108,848 662,565 12,071

146,070 827,855 12,071

349,596 485,239

297,725 432,095

401,468 538,383

Portfolio Investment Securities Other non-current financial assets

5 .1

3,626

3,626

3,626

TOTAL

4,098,694 3,354,631 4,842,717 3,456,236 2,827,666 4,084,807

The sensitivity of unlisted equity securities was assessed for each individual investment based on specific valuation criteria: O for companies valued on the basis of discounted cash flows, sensitivity was calculated on the basis of a 15% change; O for companies valued by comparing multiples, sensitivity was calculated on the basis of a 20% change in peer-group multiples.

For listed securities and Portfolio Investment Securities, sensitivity was calculated on the basis of a 20% change in share prices or reported fund NAV.

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FFP

2017 REGISTRATION DOCUMENT