QUADIENT // 2021 Universal Registration Document

6

FINANCIAL STATEMENTS Consolidated financial statements

Expenses and gains related to acquisitions

5-7:

Transaction costs related to acquisitions are recorded This line includes consultants’ fees and amortization of under current operating expenses and presented on a intangible assets at the time of purchase price separate line entitled “Expenses related to acquisitions”. allocation.

31 January 2022

31 January 2021

Consultants’ fees

5.0

9.9

Amortization of intangible fixed assets after purchase price allocation

6.8

6.6

Other expenses related to acquisitions*

-

3.0

EXPENSES RELATED TO ACQUISITIONS

11.8

19.5

In 2020, this line included the costs related to YayPay acquisition (non-recourse loan to YayPay founders) and Proship * divestment (mainly retention bonuses contingent to the transaction closing).

Structure optimization expenses – net of reversals 5-8:

The Group pursued the optimization of its structure. An 2020. This expense is mainly related to the costs incurred expense of 9.4 million euros, net of an unused provision by the implementation of certain initiatives related to reversal of 1.0 million euros, is recorded in this regard in reorganizations within the Group and to expenses related 2021, compared with an expense of 16.4 million euros in to workforce reduction.

Other operational expenses and income 5-9:

31 January 2022

31 January 2021

Automated packaging solutions business and Drachten factory divestment

(7.0)

-

Quadient Oceania divestment

0.2

(18.2)

Other

(3.5)

(1.4)

OTHER OPERATIONAL (EXPENSES) INCOME

(10.3)

(19.6)

In 2020, Quadient Oceania divestment has lead to an expense of 18.2 million euros, related to net assets of the company divested release and to the recognition of the cumulative translation adjustments in the profit & loss statement.

In 2021, the other operational expenses mainly include the loss of 7.0 million euros related to the Automated packaging solutions business divestment, non-recurring fees and an exceptional expense related to assets write-off.

Off-balance sheet commitments related to operational activities 5-10:

Quadient has a bank guarantee in favor of the Irish postal service for 1.7 million euros.

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UNIVERSAL REGISTRATION DOCUMENT 2021