QUADIENT // 2021 Universal Registration Document

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CORPORATE GOVERNANCE REPORT Remuneration report

Remuneration report 2.3

Letter from the Chair of the Appointments and remuneration committee Dear Shareholders, On behalf of the Board of directors, I am pleased to present you with the Company's remuneration report for the fiscal year ending on 31 January 2022. Quadient entered this year into the second phase of the “Back to Growth” strategy for the 2021-2023 period after having proven the resilience of its business through the COVID-19 crisis while successfully executing our strategic plan during its first phase. Our business remains well-positioned and financially secure to meet the challenges we now anticipate with respect to the conflict in Ukraine and continued disruption to supply chain and talent markets. Despite these headwinds this year, the results of 2021 were robust with a 4.3 organic growth versus 2020 and an EBIT growth of 6.0 on an organic basis thanks to further reshaping of the portfolio of activities and sustained growth in subscription-related revenue. The refocus of the Company on its major operations goes hand in hand with the unification of the organization, allowing Quadient to leverage its core assets across all solutions to better serve its customers. As I step into the role of Chair of the Appointments and remuneration committee, I am excited about the accomplishment of the Quadient organization, and our prospects for the future. Our skillful and enthusiastic team members who each possess grit, resolve and exceptional talents are the promise that the next several years will be remarkable and in line with our "EPIC Together" goals. My expectations are that we have robust reward programs which are closely aligned with the performance and accomplishments of our people and our business, as well as with our shareholders' return. These programs must be intrinsically tied not only to our financial performance, but to our unwavering responsibility to our communities and the environment. Within this framework, in 2021, the Appointments and remuneration committee decided to assess the compensation package offered to our Chief Executive Officer and has continued its efforts to modernize and improve Quadient’s compensation programs.

The Committee, together with the Board, has decided to propose several changes to the 2022 remuneration policy of Geoffrey Godet that had not been revised since his appointment as Chief Executive Officer, four years ago. The Committee also revised the Company’s long-term incentive plans to make them more attractive to our employees. Changes will be submitted for your approval at the next annual General Meeting. These recommendations include an increase to the annual base salary of the Chief Executive Officer to keep it competitive, and to raise the long-term incentive plan’s weighting within his overall compensation package. The Committee also proposed the introduction of ESG criteria to calculate both the short-term and the long-term variable remuneration of the Chief Executive Officer, as we believe it will foster a culture that increases diversity and inclusion within the Company, improves the Company’s environmental footprint, provides innovative, reliable and sustainable solutions, and supports the communities in which the company operates. Finally, in agreement with the Board of directors, the Committee recommends that the long-term incentive envelope be increased so that it can be better utilized as a tool for management to answer the fierce competition we currently see in the talent market. Our compensation report is straightforward, fair and balanced. It is my privilege to serve on your behalf, as Chair of the Appointments and remuneration committee, I look forward to working with the Committee and the Board of directors as we execute our responsibility to the Company, its employees, our partners, and our shareholders. The Appointments and remuneration committee is confident that the 2022 remuneration policy and the amendments to the long-term incentive plans, which will be submitted for approval at the Annual General Meeting on 16 June 2022, are fair and balanced for all stakeholders and that they will create long-term value for Quadient.

Sincerely yours, Martha Bejar Chair of the Appointments and remuneration committee

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UNIVERSAL REGISTRATION DOCUMENT 2021