Sopra Steria - 2020 Universal registration document

5 2020 CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements

Change in pension assets and liabilities in the United Kingdom b. In the United Kingdom, net liabilities arising from post-employment defined-benefit plans reflect the net value of benefit obligations and the plan assets covering them. These assets and liabilities changed as follows:

31/12/2020

31/12/2019

26 5244276: 7/ .<97:

Present value of the obligation at the beginning of the period

1,779.2

1,544.1

Changes in scope

-

-

Translation adjustments

-97.2

84.2

Current service cost

4.2

4.0

Past service cost

-

-

Interest

34.6

44.2

Employee contributions

-

-

Effect of obligation remeasurements

203.0

145.0 -14.2 -22.5 181.7

Experience adjustments p

-5.1 -2.9

Impact of changes in demographic assumptions p Impact of changes in financial assumptions p

211.0

Plan amendments

- -

- -

Transfers

Benefits provided

-72.4

-42.3

$& ' "( * ) # ( # ( #" ( ( " # ( $ & #

Fair value of plan assets at the beginning of the period

1,643.5

1,396.6

Changes in scope

-

-

Translation adjustments

-89.7 32.2 160.9 168.3

77.2 40.3

Interest

Effects of plan asset remeasurements

143.4 143.6

Return on plan assets (excluding amounts included in interest income) p

Impact of changes in financial assumptions p

-7.4 29.5

-0.2 28.3

Employer contributions Employee contributions

- -

- -

Transfers

Benefits provided

-72.4

-42.3

& * ) # $ " '' (' ( ( " # ( $ & #

The decrease in net liabilities mainly resulted from the contributions paid to reduce the deficit and the favourable evolution in the return on assets partly compensated by a reduction in the discount rate. UK pension fund assets fall into four investment categories:

31/12/2020

31/12/2019

26A5244276: 7/ .<97:

Shares

319.8

360.0 336.3 249.8 697.4

Bonds/Private placements

1,043.8

Infrastructure and property assets

241.4

Other assets

98.9

(#(

Other assets mainly comprised cash and cash equivalents at 31 December 2020. The discount rate used for employee obligations is based on the return on AA bonds in line with the duration of the liabilities rounded to the nearest hundredth. In the United Kingdom, the benchmark used is the Mercer yield curve. A 0.25-point decrease in the discount rate would increase the benefit obligation by €90.5 million. A 0.25-point increase in the

discount rate would reduce the benefit obligation by €102.3 million. A 10% reduction in the value of the assets would reduce their amount by €170.4 million, whereas a 10% increase would increase their amount by €170.4 million. These sensitivity estimates are made on the basis of all other things being equal. At 31 December 2020, two plans were in a net asset position, totalling €3.1 million. These assets are deemed recoverable through a future decrease in contributions.

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SOPRA STERIA UNIVERSAL REGISTRATION DOCUMENT 2020