QUADIENT // 2021 Universal Registration Document

6

FINANCIAL STATEMENTS Consolidated financial statements

Covenant calculation

Covenant to

comply 31 January 2022 31 January 2021

Debts subject to covenants – including IFRS 16 (Schuldschein 2017) Consolidated net debt excluding leasing/consolidated EBITDA excluding leasing

<3.0

0.4

0.4

Consolidated EBITDA/Cost of net financial debt

>4

10.2

7.9

<90 <=5

74.4

74.9

Leasing net debt/leasing net portfolio

1.7

1.7

Default rate

Other debts subject to covenants – excluding IFRS 16 Consolidated net debt excluding leasing/consolidated EBITDA excluding leasing

<3.0

0.1

-

Consolidated EBITDA/Cost of net financial debt

>4

10.2

7.7

<90 <=5

74.3

74.8

Leasing net debt/leasing net portfolio

1.7

1.7

Default rate

Shareholders’ equity attributable to holders of the parent company must be greater than 600 million euros. Shareholders’ equity attributable to holders of the parent company amounts to 1,350.4 million euros as of 31 January 2022, the ratio is respected.

11-2-4: BREAKDOWN BY CURRENCY

31 January 2022 31 January 2021

Euros (EUR)

670.0

745.9

United States dollars (USD)

231.5

182.3

Other currencies

24.0

24.3

TOTAL

925.5

952.5

The table above is based on exchange rates as of 31 January for each year.

11-2-5: BREAKDOWN BY MATURITY

Debts are positioned according to their contractual maturity date. The table below is based on constant exchange rates.

31 January 2022 31 January 2021

2021

-

185.4

2022

56.5

88.7

2023

111.9

194.0

2024

83.7

82.9

2025

379.3

379.0

2026

121.0

22.5

2027

173.1

-

TOTAL

925.5

952.5

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UNIVERSAL REGISTRATION DOCUMENT 2021