QUADIENT // 2021 Universal Registration Document

6

FINANCIAL STATEMENTS Consolidated financial statements

4-2-2: CHANGES IN INTANGIBLE FIXED ASSETS

Concessions,

Development expenses

IT implementation

rights Software

costs Other

Total

Gross value as of 31 January 2020

33.1

119.2

274.1

57.0 55.4 538.8

Acquisitions/capitalization

0.0

0.6

30.4

0.0 3.2

34.2

Scope variation

0.0

0.1

-

-

-

0.1

Divestments/disposals

0.1

(0.9)

-

-

(9.9)

(10.7)

Other changes

-

5.2

3.7

-

4.1

13.0

Translation difference

(0.1)

(3.7)

(2.1)

(0.2)

(1.7)

(7.8)

Gross value as of 31 January 2021

33.1

120.5

306.1

56.8 51.1

567.6

Acquisitions/capitalization

-

0.6

37.4

0.0 3.3

41.3

Scope variation

(0.1)

(4.3)

(14.0)

-

0.4 (18.0)

Divestments/disposals

-

(3.9)

0.0

-

-

(3.9)

Other changes

-

0.6

3.5

0.2 14.0 18.3

Translation difference

0.1

3.9

6.3

0.3

3.1

13.7

GROSS VALUE AS OF 31 JANUARY 2022

33.1

117.4

339.3

57.3 71.9 619.0

Cumulative amortization

(32.3)

(109.2)

(245.4)

(57.1) (37.3) (481.3)

NET BOOK VALUE AS OF 31 JANUARY 2022

0.8

8.2

93.9

0.2 34.6 137.7

The change in intangible fixed assets is mainly due to the capitalization of development costs. In 2021, the line “Scope variation” mainly includes the release of assets related to the divested automated packaging solutions business and Drachten factory divested at the end of July 2021. In 2020, this line combined the acquisition of YayPay and the divestment of Quadient Oceania.

In 2021, the other changes mainly include (i) the recognition of the intangible assets as part of Beanworks' purchase price allocation for an amount of 14.5 million euros and (ii) some reclassifications. In 2020, this line included (i) the recognition of the intangible assets as part of YayPay’s purchase price allocation for an amount of approximately 9.0 million euros and (ii) some reclassifications.

Concessions, rights

Development expenses

IT implementation

Software

costs Other

Total

Amortization as of 31 January 2020

31.0

107.4

184.4

51.4 34.3 408.5

Charges

0.6

6.1

30.1

2.8 3.9 43.5

Scope variation

-

0.0

-

-

-

0.0

Divestments/disposals

(0.1)

(0.7)

-

-

(7.4)

(8.2)

Other changes

0.0

-

1.7

-

-

1.7

Translation difference

(0.0)

(3.5)

(1.1)

(0.2) (0.9)

(5.7)

Amortization as of 31 January 2021

31.5

109.3

215.1

54.0 29.9 439.8

Charges

0.6

4.2

31.5

2.8 5.7 44.8

Scope variation

0.1

(4.3)

(8.8)

-

0.1

(12.9)

Divestments/disposals

-

(3.9)

(0.0)

-

-

(3.9)

Other changes

-

0.1

4.0

0.0 0.1

4.2

Translation difference

0.1

3.8

3.6

0.3

1.5 9.3

AMORTIZATION AS OF 31 JANUARY 2022

32.3

109.2

245.4

57.1

37.3 481.3

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UNIVERSAL REGISTRATION DOCUMENT 2021