QUADIENT // 2021 Universal Registration Document

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FINANCIAL STATEMENTS Consolidated financial statements

Financial debt analysis 11-2:

11-2-1: ACCOUNTING PRINCIPLES

Interest-bearing loans

the life of the loan, using the effective interest rate method. Net financial debt Net financial debts include interest-bearing loans and interest payables, net of cash and cash equivalents.

Interest-bearing loans are initially recognized at their fair value less directly attributable transaction costs. After initial recognition, interest-bearing loans are measured at amortized cost: any difference between the nominal value (net of transaction costs) and the repayment value is taken in the income statement over

11-2-2: BREAKDOWN BY TYPE OF DEBT

Financial debts and bank overdrafts

Short-term part of long-term debts

Long-term debts

31 January 2022

31 January 2021

Bond Issue – Quadient S.A. 2.50 (a) Bond Issue – Quadient S.A. 2.25 (b)

-

-

-

-

166.4

-

7.3

323.8

331.1

331.0

Schuldschein (c)

-

39.9

515.3

555.2

413.6

Revolving Credit facility (d)

-

0.1

-

0.1

0.1

Other debts

5.4

3.8

29,9

39.1

41.4

TOTAL

5.4

51.1

869.0

925.5

952.5

Quadient issued an inaugural 350 million euros public bond on 23 June 2014 listed on Euronext Paris under ISIN number (a) FR0011993120 after filing a prospectus with the Autorité des Marchés Financiers (approval number 14-310 of 19 June 2014). This bond carries a fixed interest of 2.50 and is payable on 23 June 2021. This obligation has been reimbursed on 23 March 2021, Quadient having exercised his prepayment option at par 3 months before maturity. Quadient issued a 325 million euros public bond on 23 January 2020 listed on Euronext Paris under ISIN number (b) FR0013478849 after filing a prospectus with the Autorité des Marchés Financiers (approval number 20-018 of 21 January 2020). This bond carries a fixed interest of 2.25 and is payable on 3 February 2025. IFRS accounting entails an initial debt of 323.1 million euros, representing a debt issued at 2.3750 . In February 2017, Quadient concluded private placements under German law (Schuldschein) consisting of ten tranches (c) with different maturities between three and six years for a total amount of 135.0 million euros and 86.5 million United States dollars. The debt has been swapped against variable rate for a notional amount of 29.5 million euros and the debt fair value adjustment represents an amount of 0.3 million euros. The fair value of the swap is recorded in non-current financial derivative instruments (assets) for an amount of 0.3 million euros. In November 2021, Quadient repaid 32.0 million euros and 28.0 million United States. In May 2019, Quadient concluded private placements under German law (Schuldschein) consisting of nine tranches with different maturities between four and seven years for a total amount of 130.0 million euros and 90.0 million United States dollars. In November 2021, Quadient repaid 41.0 million euros and 36.0 million United States. In February 2020, Quadient concluded private placements under German law (Schuldschein) consisting of four tranches with different maturities between four and five years for a total amount of 30.5 million euros and 13.0 million United States dollars. In November 2021, Quadient concluded private placements under German law (Schuldschein) consisting of twelve tranches with different maturities between five and seven years for a total amount of 170.0 million euros and 105.0 million United States dollars. On 20 June 2017, Quadient arranged a revolving credit line for drawdown in euros and in United States dollars for an (d) initial amount equivalent to 400.0 million euros for a period of five years. The maturity of the revolving credit line has been extended to the 20 June 2024, thanks to the exercise of an extension option. The interest rate is indexed to the EURIBOR or LIBOR USD over the relevant drawdown period plus a margin depending on the debt coverage ratio by the EBITDA calculated on the Group’s consolidated financial statements excluding leasing activities. At the end of January 2022, Quadient does not use that credit facility.

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UNIVERSAL REGISTRATION DOCUMENT 2021