QUADIENT - 2020 Universal Registration Document

FINANCIAL STATEMENTS Consolidated financial statements

14-3-2: EARNINGS PER SHARE CALCULATION

The table below sets out the earnings figures used to calculate basic and fully-diluted earnings per share for all activities:

31 January 2021

31 January 2020

Net income – attributable to equity holders of the parent company

40.4

14.1

ODIRNANE dividends

(8.9)

(8.9)

Restated basic earnings (A)

31.5

5.2

Effect of dilutive instruments: Dilutive free shares • ODIRNANE conversion •

-

-

-

-

Diluted net income (B)

31.5

5.2

Number of outstanding shares

34,155

34,282

Effect on a prorata time basis of dividend payments in shares, the exercise of stock options, share buybacks for cancellation and liquidity contract

(39)

(21)

Weighted average number of shares outstanding (in thousands) * (C)

34,116

34,261

Weighted average number of outstanding free shares, prorata temporis

-

-

Number of shares related to the ODIRNANE conversion, prorata temporis

-

-

Number of shares fully diluted (in thousands) * (D)

34,116

34,261

NET EARNINGS PER SHARE (IN EUROS) (A)/(C)

0.92

0.15

DILUTED NET EARNINGS PER SHARE (IN EUROS) (B)/(D)

0.92

0.15

Weighted average over the period

6

At 31 January 2021, the potentially dilutive instruments described in the above accounting principles have a relutive effect and have thus been excluded from the calculation of diluted earnings per share.

POST-CLOSING EVENTS NOTE 15

In March 2021, Quadient exercised its residual maturity ● par call for its bond bond 2.5 maturing in June 2021 for an amount of 163.2 million euros. On 22 March 2021, Quadient announced the acquisition ● of the FinTech Beanworks, leader in SaaS accounts payable automation solutions. Quadient holds 96 of

Beanworks for an amount of approximately 70 million euros excluding the costs related to the deal. Between the end of the financial year at 31 January 2021 ● and the approval of the consolidated financial statements by the Board of Directors, there were no other significant changes in the Group’s commercial or financial situation or any significant acquisitions.

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UNIVERSAL REGISTRATION DOCUMENT 2020