QUADIENT // 2021 Universal Registration Document

FINANCIAL STATEMENTS Consolidated financial statements

Number of shares granted

Outstanding shares 31/01/2021

Outstanding shares 31/01/2022

Of which subject to conditions (a)

Shares granted

Shares delivered

Shares cancelled

Start date

28/06/2018

226,600

226,600

194,600

-

(23,700) (170,900)

-

26/04/2019

12,000

12,000

1,000

-

-

-

1,000

23/09/2019

391,030

391,030

376,300

-

-

(31,150)

345,150

06/01/2020

5,000

5,000

5,000

-

-

(5,000)

-

15/01/2021

386,000

386,000

386,000

-

-

(11,000)

375,000

15/02/2021

6,500

6,500

-

6,500

-

-

6,500

24/09/2021

385,500

193,690

- 385,500

-

-

385,500

01/12/2021

3,800

1,450

-

3,800

-

-

3,800

(a)

Shares granted with performance conditions.

9-4-3: CHANGES IN SHARE-BASED PAYMENTS VALUATION

Expenses recorded with respect to the profit-sharing, incentive plans and share-based payments are as follows:

31 January 2022

31 January 2021

31 January 2020

31 January 2019

31 January 2018

Free share granted valuation

0.5

0.2

0.7

0.7

(0.6)

6

Executive compensation 9-5:

The main role of the management team is to make strategic decisions for the Group and coordinate their implementation around the world. The gross remuneration paid to the management team amounted to 3.4 million euros in 2021, compared with 4.3 million euros in 2020. Variable remuneration is determined on the basis of attaining Group sales, operating income and capital employed targets. The Group recognized an expense of 0.9 million euros in 2021 in respect of free shares allocation plans granted to the management team, compared with 0.6 million euros in 2020. 77,000 shares were granted to members of the management team during the 2021 financial year compared with 73,000 in the previous year.

With respect to pensions, the Chief Executive Officer, as well as a number of other Group executives, benefit from a defined contribution pension plan (article 83 of the French general tax code), into which is paid a total of 5 of their remuneration, within the limit of five times the social security ceiling. Some enjoy a defined benefit pension scheme (article 39 of the French general tax code) with an annuity obligation of 1.1 of pay per year of service for a minimum of eight years and a maximum of twenty years. This annuity is paid after the deduction of the annuities paid within the usual defined contribution plans. There are no new beneficiaries in the defined benefit pension scheme. The amount of these liabilities at the end of January 2022 totalled 0.5 million euros compared with 0.6 million euros as of 31 January 2021 and concerns the members of the management team. The cumulative payments stand at 6.8 million euros as of 31 January 2022.

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UNIVERSAL REGISTRATION DOCUMENT 2021