NEOPOST_REGISTRATION_DOCUMENT_2017

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Financial statements

Parent company statements of financial position

Hedging instruments Neopost uses standard, liquid derivative instruments. The instruments used are as follows: firm derivatives: swaps and FRA (Forward Rate • Agreement); plain vanilla options: caps and floors (used either alone or • in combination); knock-in or knock-out barrier options: caps and floors • (used either alone or in combination);

swaptions (used either alone or in combination). •

Management mandates, packaged bank hedging products and derivative instruments that introduce a reference other than the underlying assets (quanto swaps for example) are strictly forbidden by internal procedures.

Instrument details The instruments in the portfolio at 31 January 2018 are listed below, according to type, currency and maturity.

Maturity more than 5 years

(Notional value)

Currency Less than 1 year

1 to 5 years

Cross currency Swap

EUR/USD

-

18.3/20.0

27.4/30.0

Swap – buyer

EUR

-

125.0

29.5

Swap – receiver

USD

-

40.0

-

Cap – buyer

USD

-

55.0

-

EUR

130.0

-

-

Floor – receiver

USD

-

30.0

-

Floor - buyer

EUR

-

18.3

-

Instrument valuations The valuation of the aforementioned instruments is not included in the accounts.

For information, the valuation of these instruments with the IFRS at the end of the year under assets is +7.2 million euros.

Customer credit risk As the Group's parent holding company, Neopost S.A. is not exposed to any customer credit risk.

Pledges of investment securities None. Commitments received No significant commitment received.

Other commitments given

Currency

31 January 2018

31 January 2017

Bank guarantee in favor of the British postal service

GBP

0.8

0.8

Bank guarantee in favor of the Irish postal service

EUR

1.7

1.7

X’Ange Capital 2 – Share purchase commitment

EUR

0.2

0.4

Partech Entrepreneur II – Investment commitment

EUR

1.2

2.8

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REGISTRATION DOCUMENT 2017 / NEOPOST