Plastic Omnium // 2021 Universal Registration Document

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CONSOLIDATED FINANCIAL STATEMENTS 2021 Consolidated financial statements at December 31, 2021

Current and non-current borrowings 1.8.3 Current and non-current borrowings are valued using the amortized cost method and the effective interest rate. Borrowings in foreign currencies contracted by a subsidiary from the Group and whose repayment is neither planned nor likely in the foreseeable future are considered to be part of the net investment of the Plastic Omnium Group in this foreign business. The corresponding translation differences are recognized in equity. 1.8.4 In order to manage its interest rate risk, the Group uses OTC derivative instruments. These hedging instruments are valued and recognized in the balance sheet at their fair value. Changes in the fair value of instruments described as “Cash-flow hedges” are recorded under “Other comprehensive income” (equity) for the effective parts and in financial income for the ineffective parts in application of IFRS 9. Changes in the fair value of derivatives that do not qualify for hedge accounting are recognized in profit or loss. 1.9 In France, the entity Compagnie Plastic Omnium maintained the option for the ordinary law tax consolidation system for itself and the French subsidiaries at least 95% controlled, as set out in Article 223 A of the French Tax Code. In addition, the Group applies optional national consolidation or tax consolidation plans in Germany, Spain and the United States. The Plastic Omnium Group recognizes deferred taxes relating to temporary differences between the tax values and the carrying amount of assets and liabilities on the consolidated balance sheet without discounting. Deferred taxes are calculated using the liability method, applying the last tax rate enacted (or the quasi-adopted rate) at the balance sheet date and applicable to the period in which the temporary differences reverse. Tax credits and deferred tax assets on tax loss carryforwards and temporary differences are only recognized when the probability of their utilization within a relatively short period of time is proven. Derivatives and hedge accounting Income tax Treasury stock 1.10.1 The Plastic Omnium Group’s treasury stock is recorded as soon as it is acquired as a deduction from equity, regardless of the purpose for which it is being held. The proceeds from the sale of these securities are recognized directly as an increase in the Group’s equity, any gain or loss on the sales having no impact on the net profit (loss) for the fiscal year. Shareholders’ equity and earnings per share 1.10

Earnings per share 1.10.2 Basic earnings per share are calculated using the weighted average number of ordinary shares comprising the share capital, less the weighted average number of shares held in treasury stock. Diluted earnings per share take into consideration the average number of treasury shares deducted from equity and shares which might be issued in respect of the fiscal year under stock option programs. 1.11 In preparing its financial statements, the Plastic Omnium Group uses estimates and assumptions to assess some of its assets, liabilities, income, expenses and commitments. These estimates and assumptions, which are liable to result in significant adjustments to the carrying amount of assets and liabilities, are reviewed periodically by Senior Executives. The amounts in the future financial statements of the Group may include changes in estimates or assumptions in light of past experience and changes in economic conditions. In general, the estimates and assumptions used during the fiscal year were based on the information available at the balance sheet date. Estimates may be revised depending on changes in the underlying assumptions. These assumptions mainly concern: Deferred taxes Recognition of deferred tax assets depends on the probability of sufficient future profit being generated to permit their utilization. This leads the Group to make regular estimates of future taxable earnings, particularly as part of the medium-term plans established within the Group. These estimates take into account the recurring or non-recurring nature of certain losses, expenses, etc. See Note 2.1.4 “Deferred tax assets” on the consequences related to the Covid-19 crisis. Provisions PROVISIONS FOR PENSIONS AND OTHER POST-EMPLOYMENT BENEFITS In the case of defined-benefit plans, the Group, assisted by independent actuaries, adopts assumptions (see Notes 1.4.2 and 5.2.5 “Provisions for pensions and other post-employment benefits”) on: Estimates and judgements

discount rates for pension and other long-term benefits; ● rates of increases in healthcare costs for the United States; ● employee turnover and future salary increases. ● OTHER PROVISIONS

Estimates also cover provisions, particularly those relating to employee downsizing, litigation, customer warranties, legal and tax risks for which, in some cases, the Legal Department may be required to employ specialized lawyers.

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PLASTIC OMNIUM UNIVERSAL REGISTRATION DOCUMENT 2021