QUADIENT // 2021 Universal Registration Document

3 MANAGEMENT REPORT

Review of Quadient’s financial position and results in 2021

Review of Quadient’s financial position 3.1 and results in 2021

Current operating margin stood at 14.3 of sales in 2021 compared to 14.7 in 2020. Net attributable income amounted to 87.8 million euros in 2021 compared to 40.4 million euros in 2020. The net margin (3) stood at 8.6 of sales in 2021 compared to 3.9 in 2020. Cash flow after capital expenditure amounted to 104.1 million euros in 2021 compared to 166.6 million euros in 2020.

For the full-year 2021, consolidated sales amounted to 1,024.3 million euros, down 0.5 compared to the full-year 2020. Organic change stood at 4.3 (1) for the period. Subscription-related revenue (67 of the Group’s total sales) recorded an organic growth of 2.8 in 2021 compared to 2020, while hardware and license sales increased 7.6 on an organic basis year-on-year. Current operating income (2) amounted to 146.8 million euros in 2021 compared to 151.6 million euros in 2020, which included a 6.5 million euros earn-out reversal related to Parcel Pending acquisition.

3.1.1

HIGHLIGHTS

Quadient moves up three places in the 2020 Gaïa Research Ranking

Acquisition of Beanworks, a Leading FinTech in SaaS Accounts Payable Automation solutions

On 18 February 2021, Quadient announced it is sixth in the 2020 Gaïa Research global ranking, moving up three places compared to the previous year. Quadient that it also holds the fifth position among companies with revenues above 500 million euros. Every year, the rating recognizes the best performing companies in France in environmental, social and corporate governance (ESG), among a selected panel of 230 small and medium-sized companies listed on Euronext Paris. Quadient nearly doubles US Smart Locker Installations in 2020 and reaches 13,000 units worldwide On 1 March 2021, Quadient announced its base of smart locker stations has surpassed 13,000 worldwide, representing more than 600,000 boxes overall and positioning Quadient as the second largest global provider of Parcel Locker Solutions.

On 22 March 2021, Quadient announced the signing of a definitive agreement to acquire Beanworks, a fast-growing market leader specializing in Software as a Service (SaaS) Accounts Payable Automation solutions. Quadient Increases its Commitment to ESG by Joining the United Nations Global Compact as a Signatory On 25 March 2021, Quadient announced it has joined the United Nations Global Compact, the world’s largest corporate sustainability initiative. Quadient joins more than 12,000 companies across the globe in aligning strategies and operations with the UN Global Compact’s ten universal principles on human rights, labour, environment and anti-corruption.

(1) FY 2021 sales are compared to FY 2020 sales, from which is deducted (pro rata temporis) revenue from Proship, the Graphics activities in Australia and New Zealand and the Automated Packaging Systems business, and to which is added (pro rata temporis) revenue from YayPay and Beanworks, for a total amount of (39.6) million euros, and are restated from an 8.1 million euros negative currency impact over the period. (2) Excluding acquisition-related expenses. (3) Net margin = net attributable income/total sales.

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UNIVERSAL REGISTRATION DOCUMENT 2021