TELEPERFORMANCE_Registration_document_2017

CONSOLIDATED FINANCIAL STATEMENTS

7.7 Statutory auditors’ report on the consolidated financial statements

7.7 Statutory auditors’ report on the consolidated financial statements

This is a translation into English of the statutory auditors’ report on the financial statements of the Company issued in French and it is provided solely for the convenience of English speaking users. This statutory auditors’ report includes information required by European regulation and French law, such as information about the appointment of the statutory auditors or verification of the management report and other documents provided to shareholders. This report should be read in conjunction with, and construed in accordance with, French law and professional auditing standards applicable in France. For the year ended Decemberb31 st , 2017 To the annual general meeting of Teleperformance SE, our professional judgment, was of most significance in our audit of the consolidated financial statements of the current period, as well as how we addressed this risk.

This matter was addressed in the context of our audit of the consolidated financial statements as a whole, and in forming our opinion thereon. We do not provide a separate opinion on specific items of the consolidated financial statements. Impairment of goodwill (NotebD to the consolidated financial statements ) Identified risk As of Decemberb31 st , 2017bgoodwill are recorded in the statement of financial position for a net carrying amount of €1,676 million, i.e . 37% of total assets. Goodwill are allocated to cash generating units (CGUs) or groups of CGUs and tested for impairment at least annually. An impairment loss is recognized in the statement of income whenever the carrying amount of CGUs or groups of CGUs exceeds its recoverable value. As of Decemberb31 st , 2017, the Group has impaired the value of the FSM and Central Europe goodwill for €67 million (€23 million and €44 million respectively). The recoverable amount of the CGUs and groups of CGUs is based on the value in use, assessed using the discounted cash flows method. Future cash flows are determined over a 5byear period. Cash flows for the first three years are based on the three year plan prepared by CGUs management and approved by Group management. Cash flows for the following two years are derived from the three-year plan on the basis of growth and profit rates considered reasonable for the related CGUs. Depending on the circumstances, the Group can limit the use of cash flows over a three-year period. The terminal value is based on the cash flows of the last year and assumes perpetual growth rate equal to inflation. Sensitivity analyses are performed by the Group by simulating an erosion of the recoverable value through an increase in the discount rate or a decrease in the EBITA rate (as set out in notebA.5) in the terminal value. When a sensitive CGU is identified, further analysis are performed to assess the sensitivity to changes in operational assumptions such as the revenue growth. We considered the impairment of goodwill to be a key audit matter considering the weight of these assets on the consolidated statement of financial position, the importance of management’s judgments to determine the assumptions relating to cash flow forecasts, discount and long-term growth rates and the sensitivity of the recoverable value to changes in the underlying assumptions.

Opinion In compliance with the engagement entrusted to us by your annual general meeting, we have audited the accompanying consolidated financial statements of Teleperformance SE for the year ended Decemberb31 st , 2017. In our opinion, the consolidated financial statements give a true and fair view of the assets and liabilities and of the financial position of the Group as at Decemberb31 st , 2017band of the results of its operations for the year then ended in accordance with International Financial Reporting Standards as adopted by the European Union. The audit opinion expressed above is consistent with our report to the audit and Compliance Committee. We conducted our audit in accordance with professional standards applicable in France. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Our responsibilities under those standards are further described in the statutory auditors’ Responsibilities for the Audit of the Consolidated Financial Statements section of our report. Independence We conducted our audit engagement in compliance with independence rules applicable to us, for the period from Januaryb1 st 2017bto the date of our report and specifically we did not provide any prohibited non-audit services referred to in Articleb5-1 of Regulation (EU) No 537/2014 or in the French Code of Ethics ( Code de déontologie ) for statutory auditors. Justification of assessments – key audit matters In accordance with the requirements of ArticlesbL.823-9 and R.823- 7 of the French Commercial Code ( Code de commerce ) relating to the justification of our assessments, we bring your attention to the key audit matter relating to risk of material misstatement that, in Basis for opinion Audit Framework

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