QUADIENT // 2021 Universal Registration Document

FINANCIAL STATEMENTS Quadient S.A. statements of financial position

The receivables breakdown by maturity at 31 January 2022 is as follows:

Gross value

Less than 1 year

More than 1 year

Loans to subsidiaries

322.6

-

322.6

Other financial assets – Liquidity contract

1.0

-

1.0

Tax receivables

5.4

1.6

3.8

Subsidiaries current accounts

363.4

363.4

-

Receivables on intercompany billing services

16.3

16.3

-

Other receivables

3.8

3.8

-

TOTAL

712.5

385.1

327.4

SHORT-TERM INVESTMENTS AND CASH & CASH EQUIVALENTS NOTE 6

Short-term investments and cash & cash equivalents are made up of treasury shares, short term securities and cash & cash equivalents. Short-term securities are valued using the First In First Out (FIFO) method. When the realizable value is lower than the acquisition cost, depreciation is recorded in the financial result for the amount of that difference. Concerning stock-options and free share attributions and as soon as it is likely that the entity will deliver existing shares to the plan beneficiaries, a liability should be accounted for, on the basis of a probability that an outflow of resources will be necessary. The value of the outflow of resources is estimated on the basis of the probable cost of buying back the shares if they are not already held or of their entry cost on the date of plan allocation, determined in accordance with the following principles:

if the allocation of options and free shares is subject ● to the fact that the beneficiary is still in the Company’s staff during a certain period of time, the accounting method for this liability is spread over the vesting period. The free shares attribution expenses are recorded in the income statement on the line employees expenses; the treasury shares allocated to specific plans remain ● measured at the acquisition cost and will not be depreciated. The booking cost is the acquisition cost (if the shares have been allocated to a specific plan since their acquisition) or their net book value at the plan allocation date in the case of a future allocation. The shares acquired with a view to be attributed to employees and that are not attached to a determined plan remain measured according to general rules that apply to marketable securities.

6

31 January 2022

31 January 2021

Short-term investments and cash & cash equivalents Treasury shares

5.7

3.3

Short-term securities

-

-

Cash & cash equivalents

392.0

413.9

TOTAL

397.7

417.2

Treasury shares The number of treasury shares at 31 January 2022 is 260,063 of which 164,259 are held for the liquidity contract and 95,804 with the aim of fulfilling the obligations of the stock-option and free share plans attributed to employees and directors of the Group.

Under the liquidity contract, shares cannot be sold freely except if the contract is cancelled. This contract was signed with Exane BNP Paribas on 2 November 2005 for one year and is renewable by tacit agreement. The amount allocated to this contract was initially 8 million euros. The purpose is to reduce excessive volatility of the Quadient share and to improve liquidity.

Transactions in 2021 are the following:

237

UNIVERSAL REGISTRATION DOCUMENT 2021