QUADIENT - 2019 Universal Registration Document

FINANCIAL STATEMENTS Consolidated financial statements

NOTE 1

PRESENTATION OF THE GROUP AND ITS CONSOLIDATED FINANCIAL

STATEMENTS

sold its 100 % stake in the company Quadient Data USA (former Satori Software), one of the leaders in address quality solutions in the United States.

Quadient is the driving force behind the most meaningfull customer experience. By focusing on four major business areas which are customer experience management (CXM), business process automation (BPA), mail related solutions (MRS) and parcel lockers solutions (PLS), Quadient assists on a daily basis hundred of thousands of companies in building powerfull connections with their customers and in delivering exceptional customer experiences, in a world where interaction have to be always more connected, personal and mobile. The term “Neopost S.A.” refers to the parent company (excluding consolidated subsidiaries), which is listed and registered in France, while “Quadient” and “the Group” refer to the economic group formed by the parent company and its consolidated subsidiaries. The parent company’s head office is located at 42-46 avenue Aristide Briand, 92220 Bagneux (France). Quadient shares are listed on compartment B of Euronext Paris and are included on the SBF 120 index. Quadient was created in 1992 through a Leveraged Buy-Out (LBO) of Alcatel’s mail processing equipment division. A second LBO took place in 1997. In February 1999, the Group was listed on the Paris stock exchange. Since then, Quadient has made acquisitions of various sizes. In 2002, Quadient acquired Ascom Hasler – the mailing systems division of the Swiss Company Ascom – which at the time was ranked third in the world. In 2009, Quadient acquired the company Satori Software. In 2012, Quadient acquired GMC Software AG, parent company of the Group GMC Software Technology AG, leader in the field of customer communication management and Human Inference, a specialist in master data management. In 2013, Quadient acquired DMTI Spatial, the leading Canadian provider of location-based data quality solutions. In 2014, Quadient acquired ProShip, one of the largest providers of multi-carrier parcel shipping solutions. In 2015, Quadient acquired a 55 % stake in Temando Holdings Pty Ltd, an Australian Company that provides logistic solutions to the e-commerce sector. In 2016, Quadient acquired Icon Systemhaus GmbH, German leader in customer communication solutions, mainly active in Germany and Austria. In 2017, the Group divested its distribution subsidiaries in Indonesia, Malaysia, Singapore and Thailand and its subsidiary DMTI Spatial. Quadient also acquired Temando’s remaining minority interests in September 2017 and owns since 100 % of the company. In 2018, Quadient acquired 100 % of the company Parcel Pending Inc., leader in the American parcel locker market and the main supplier of residential, commercial, retail and universities in the United States and Canada. In 2018, Quadient also 1-1: History

1-2: Main events of the period

DISPOSAL OF QUADIENT DATA NETHERLANDS BV (FORMER HUMAN INFERENCE) On 8 February 2019, Quadient announced the disposal of Quadient Data Netherlands BV (former Human Inference), a leading data processing solutions provider. As of 31 January 2019, the assets and liabilities of the two legal entities sold have been disclosed as assets held for sale in compliance with IFRS 5. In September 2019, Quadient decided an orderly and phased shutdown of activity in its Australian subsidiary Temando (e-commerce shipping software), subject to Temando's legal obligations to its customers and other stakeholders. At the end of fiscal year 2019, the shutdown was substantially progressed and is now almost completed. The Group announced in September 2019 its decision to change the name Neopost to become Quadient. This choice of an unified and modern brand is the result of deploying a new Group organization as part of the Group's "Back to growth" strategy, moving away from companies operating independent businesses to a single company with an integrated portfolio of solutions. SHUTDOWN OF TEMANDO'S ACTIVITIES CHANGE OF THE NAME AND THE VISUAL IDENTITY

6

GOODWILL IMPAIRMENT

The Group has booked some goodwill impairment on its additional operations in Australia, the Nordics countries as well as on the businesses of shipping softwares in France. These depreciations are described in the note 4-5.

ASSETS HELD FOR SALE

On 28 February 2020, Quadient divested the company ProShip Inc, a global provider of automated multi-carrier shipping software. As of 31 January 2020, the assets and liabilities of the entity have been disclosed as assets held for sale in compliance with IFRS 5.

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UNIVERSAL REGISTRATION DOCUMENT 2019