QUADIENT - 2020 Universal Registration Document

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FINANCIAL STATEMENTS Analysis of Quadient S.A.’s annual results

Analysis of Quadient S.A.’s 6.3 annual results

Unless otherwise indicated, all the amounts stated hereafter are in million of euros, rounded to one decimal place.

6.3.1

2020 FINANCIAL YEAR SIGNIFICANT EVENTS

CHANGE OF THE NAME AND THE VISUAL IDENTITY

The change of the name of the holding from Neopost S.A. to Quadient S.A. was approved by the Annual General Meeting on 6 July 2020. This choice of an unified brand was the result of deploying the 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. ACQUISITION OF YAYPAY On 29 July 2020,Quadient Holdings USA Inc. acquired 100 of the company YayPay Inc., leading Fintech company specialized in account rceivables automation solutions.

SALE OF PROSHIP INC. AND QUADIENT OCEANIA PTY LTD

On 28 February 2020, Quadient divested the company ProShip Inc., a global provider of automated multi-carrier shipping software. On 21 January 2021, Quadient divested the company Quadient Oceania Pty Ltd,

IMPAIRMENT ON INVESTMENTS, LOANS AND WAIVER OF DEBTS

Waiver of debts for an amount of 18.9 million euros accorded to Neopost Shipping Holding Pty Ltd, of 6.9 million euros accorded to Temando LLC and 1.1 million euros accorded to Neopost Mailing Logistic Systems are recorded this year. Related depreciation reversals of 46.1 million euros are recorded as at 31 January 2021. A depreciation of the loan accorded to Neopost Holding Pty Ltd of 17.1 million euros is recorded. The impairment test on investments has been performed and leads to the impairment of investments in Quadient Japan for 2.1 million euros and Neopost Asia Pacific (Holding) Pte Ltd for 2.3 million euros. The year 2020 has been marked by the global health crisis resulting from the Covid-19 circulation. Containment measures have been implemented in many countries where Quadient operates. With the spread of the virus, the priority for Quadient has been the health and the security of its employees. Since the beginning of this crisis, the Group has adopted a number of measures to keep its employees safe and to ensure the business continuity to its customers while containing the effects of the crisis on its profitability. These measures include in particular a strong costs reduction program (temporary recruitment freezes, drastic reduction in subcontractors, reduction of bonuses…), partial unemployment wherever possible, further use of home working, providing protection material for the employees… European manufacturing sites have been affected to various degrees from a strong decline in activity for some to a total several months closing for others. An impairment test on investments has been performed and leads to the impairments mentioned above. PANDEMIC COVID-19

6.3.2

OPERATING INCOME

Quadient S.A.’s operating loss amounts to 11.4 million euros compared with a loss of 4.3 million euros as at 31 January 2020.

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UNIVERSAL REGISTRATION DOCUMENT 2020