QUADIENT // 2021 Universal Registration Document

6

FINANCIAL STATEMENTS Quadient S.A. statements of financial position

Financial income 11-2:

Financial income amounts to 104.4 million euros compared with 34.6 million euros a year before and it breaks down as follows:

31 January 2022

31 January 2021

Interest expenses on external borrowings

(25.8)

(35.0)

Net income on internal loans and borrowings

18.3

18.2

Loss on receivables related to investments

(18.0)

(26.9)

Dividends received

104.8

64.6

Revenue from disposals of securities

0.8

0.1

Other financial products

1.9

2.2

Net gain on foreign exchange and swaps

8.6

(21.7)

(Provision)/reversal for losses on foreign exchange

0.7

8.7

(Provision)/reversal of impairment on short-term receivables

(2.0)

21.2

(Provision)/reversal of impairment on investments in affiliates

-

(4.4)

(Provision)/reversal of impairment on loans

17.1

7.9

(Provision)/reversal of impairment on treasury shares

(2.0)

(0.3)

TOTAL

104.4

34.6

Extraordinary income 11-3:

Quadient S.A.’s extraordinary gain amounts to 0.3 million euros compared with a loss of 0.2 million euros as of 31 January 2021. Treasury shares disposals under the liquidity contract generate extraordinary income from capital transactions

for 1.1 million euros (1.0 million euros of 31 January 2021) and extraordinary expenses from capital transactions for 0.8 million euros (1.2 million euros as of 31 January 2021).

Income tax 11-4:

Quadient S.A. is the parent company of an integrated consolidation. The tax is thus calculated on the tax group under the terms of article 223A of the French Company’s own taxable income. The tax savings general tax code. In this context, Quadient S.A. is only realized by the Group, through losses, adjustments or liable for income tax due by its subsidiaries with a view tax credits, are retained by the parent company and to determining the whole Group’s earnings. The tax regarded as an immediate gain for the year (in a year in consolidation agreement used in the Group is based on which the Company shows some profits, the parent the principle of neutrality and plan that the tax burden company will then bear a tax charge). is borne by the Company as in the absence of tax

Non-deductible tax expenses: In accordance with article 223 quater of the French general tax code, the financial statements for the financial year ended the 31 January 2022 contain 94,038 euros of non-deductible expenses for income tax (article 39-4 of the French general tax code), but do not contain overhead costs, which are non-deductible for tax purposes (article 39-5 of the French general tax code).

The French tax consolidation group includes the following companies in 2021: Quadient France; ● Quadient Finance France; ● Quadient Industrie France S.A.; ● Quadient Technologies France; ● Quadient Shipping. ●

242

UNIVERSAL REGISTRATION DOCUMENT 2021