QUADIENT - 2019 Universal Registration Document

FINANCIAL STATEMENTS Neopost S.A. statements of financial position

31 January 2020

31 January 2019

X’Ange Capital 2

4.2

4.2

Partech Entrepreneur II

4.9

4.4

Investments – Total gross value

944.5

943.0

Loans to subsidiaries

549.7

399.5

Equity loan to Neopost Mailing Logistic Systems

0.3

0.3

Liquidity contract

1.4

1.0

Total gross value

1,495.9

1,343.8

Impairment on investments Neopost SDS Ltd

(4.6)

(4.6)

Rena GmbH

(6.3)

(6.3)

Neopost Shipping Holding Pty Ltd

(20.5)

(20.5)

Neopost Holdings Pty Ltd

(34.9)

-

Neopost Finland

(1.8)

-

Neopost Norge

(2.8)

-

Neopost Sverige

(9.7)

-

Neopost Danmark

(14.6)

-

Investments - Total impairment

(95.2)

(31.4)

Loans - Total impairment

(24.9)

(26.0)

Total impairment

(120.1)

(57.4)

6

TOTAL NET VALUE

1,375.8

1,286.4

Changes in the financial assets gross value over the period are mainly due to: the capital increase in Neopost Sverige AB of 1.0million ● euros; the purchase of the stake in Partech Entrepreneur II for ● 0.5 million euros; the increase of 150.2 million euros in long-term loans to ● the Group’s subsidiaries including Neopost Finance Ireland Ltd in order to ensure the financing of its leasing activity; the increase of the liquidity contract of 0.4 million ● euros. The depreciation of Neopost Shipping Holding Pty Ltd’s loans decreased by 1.1 million euros, to 24.9 million euros as at 31 January 2020.

An impairment test has been carried out on Neopost S.A. financial assets as at 31 January 2020 and it leads to the following impairment: Neopost Finland for an amount of 1.8 million euros; ● Neopost Norge for an amount of 2.8 million euros; ● Neopost Sverige for an amount of 9.7 million euros; ● Neopost Danmark for an amount of 14.6 million euros; ● Neopost Holdings Pty Ltd for an amount of 34.9 million ● euros. The depreciation of Neopost Shipping Holding Pty Ltd’s investments was recorded for an amount of 20.5 million euros as at 31 January 2019.

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UNIVERSAL REGISTRATION DOCUMENT 2019