RUBIS - 2019 Universal Registration Document

8 FINANCIAL STATEMENTS - 2019 Consolidated financial statements and notes

4.10.2 DERIVATIVE FINANCIAL INSTRUMENTS

Market value as of 12/31/2019 (in thousands of euros)

Nominal amount hedged

Type of instrument

Hedges/entity

Item hedged

Term

Foreign exchange Rubis Énergie

Loan

CHF 5M Mar.-20

44

Rate Rubis Terminal

Loan Loan Loan Loan Loan Loan Loan Loan Loan Loan Loan Loan Loan Loan Loan Loan

€30M Mar.-20 €25M Sept.-20 €25M Sept.-26 €68M Jul.-24 €100M Nov.-22 €23M Jan.-22 €10M Jul.-20 €45M May-22 €14M Jan.-20 €75M Feb.-22 €100M Feb.-23 €75M Mar.-24 €38M May-22 €38M May-22 €50M Apr.-24 €60M Jul.-22

swap swap

(38)

(152) (362) (360) (250) (153)

cap cap cap

Rubis Énergie

swap swap swap swap swap swap swap swap swap swap swap

(11)

(290)

(7)

(521) (393)

(1,141)

(107) (104) (319) (140)

Propane

Purchase of propane and fuel

Jan.-20 to Dec.-21

Rubis Énergie

40,613 t €776M

swap

821

TOTAL FINANCIAL INSTRUMENTS

(3,485)

OF WHICH LIABILITIES RELATED TO A GROUP OF ASSETS HELD FOR SALE

€80M

(553)

The fair value of derivative financial instruments carried by the Group includes a “counterparty risk” component for derivative assets and an “own credit risk” component

for derivative instrument liabilities. Credit risk is assessed using conventional mathematical models for market participants. Adjustments recorded in respect of counterparty risk and

own credit risk as of December 31, 2019 were not material.

Interest rate risk

Total amount of lines (in thousands of euros)

Characteristics of loans contracted

Less than 1 year 12,472 239,119

Between 1 and 5 years

More than 5 years

Existence of hedging

Rate

Euros

Fixed rate

36,489

22,739

1,278

Variable rate Fixed rate Variable rate

1,323,500

1,049,143

35,238

YES

Rands

1,901 3,512

634 591

1,267 2,921

US dollars

Fixed rate

Variable rate

Jamaican dollars

Fixed rate

1,965

1,965

Variable rate

TOTAL

1,367,367

254,781

1,076,070

36,516

Interest rate risk for the Group is limited to the loans obtained. None of the Group’s loans to date is likely to be repaid due to the enforcement of covenants.

Rubis 2019 Universal Registration Document i 249