NEOPOST_REGISTRATION_DOCUMENT_2017

2

Corporate governance report

Remuneration of managers and directors

HISTORY OF SHARE SUBSCRIBTION OR PURCHASE OPTIONS GRANTED TABLE # 8 AFEP-MEDEF CODE

Stock options Date of Annual General Meeting

05/07/2006 05/07/2006 07/07/2009 07/07/2009 07/07/2009 07/07/2009 15/01/2008 03/07/2008 18/02/2009 12/01/2010 12/01/2011 12/01/2012 15/01/2018 03/07/2018 18/02/2019 12/01/2020 12/01/2021 12/01/2022

Date of Board meeting (start of exercise period)

Expiry date

Performance conditions

no

no

yes

yes

yes

yes

Initial adjusted number of options available for subscription or purchase (a)

462,000

9,500

325,885

475,000

239,400

260,800

including attributable under performance conditions

0

8,760

63,000 226,883

154,000 346,181

40,000 197,013

75,000 225,618

Total of options adjusted as at 31 January 2017 (a)

341,265

-

including exercisable by Chairman & Chief Executive Officer Denis Thiery Initial subscription or purchase price (in euros)

43,803

-

24,638

54,750

10,951

22,998

68.10

69.53

63.30

57.19 57.89

66.64 67.24

52.30 53.50

Adjusted subscription or purchase price (in euros)

62.19

63.51

57.81

52.23 52.87

60.86 62.32

47.76 48.85

Total number of subscribed options Total number of options adjusted (a) , cancelled or nullified NUMBER OF SHARE SUBSCRIPTION OR PURCHASE OPTIONS OUTSTANDING AS AT 31 JANUARY 2018 including exercisable by Chairman & CEO Denis Thiery

-

-

(602)

(27,172)

-

(9,000)

(341,265)

(740)

(51,764)

(68,563)

(30,335)

(54,385)

0

8,760 174,517 250,446 166,678 162,233

0

-

12,837

43,800

8,723

11,114

Adjusted value after the payment of dividends, partly paid from capital reserves. (a)

HISTORY OF PERFORMANCE SHARE GRANTED TABLE # 9 AFEP-MEDEF CODE

Performance shares Date of Annual General Meeting

06/07/2010 04/07/2012 04/07/2012 01/01/2015 01/07/2016 01/07/2016 12/01/2012 25/03/2013 24/03/2014 01/07/2015 01/07/2016 27/03/2017

Date of Board meeting Performance conditions

yes

yes

yes

yes

yes

yes

Total number of shares granted including to Chairman & CEO Denis Thiery

77,000

146,900

150,060

199,500

149,000

246,700

-

27,000

24,660

40,000

34,000

40,000

Vesting date of shares 1 st vesting period

13/01/2014 26/03/2015 25/03/2016 02/07/2017 02/07/2019 28/03/2020

2 nd vesting period

13/01/2015 26/03/2016 25/03/2017 02/07/2018

n/a

n/a

End date of the conversion period 1 st vesting period

14/01/2016 27/03/2017 26/03/2018 03/07/2019 14/01/2017 27/03/2018 26/03/2019 03/07/2020

n/a n/a

n/a n/a

2 nd vesting period

Number of shares vested

35,684

4,229

0

7,692

-

-

Total number of shares cancelled or nullified NUMBER OF SHARES OUTSTANDING AT 31 JANUARY 2018

41,316

131,571

133,060

98,808

2,500

700

0 11,100 (a)

17,000 (a)

93,000

146,500

246,000

Shares related to international plans for which none will be delivered. (a)

In application of article L.621-18-2 of the monetary and financial code, declarations on Neopost securities transactions by Denis Thiery have been disclosed to the AMF and published on the Group's website. It is precised that Denis Thiery made no transaction over fiscal 2017.

It is hereby specified that Denis Thiery undertakes to hold a minimum of 50,000 Neopost shares until the end of his corporate appointment. Denis Thiery and his affiliated parties hold 147,592 shares as of 31 January 2018.

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REGISTRATION DOCUMENT 2017 / NEOPOST