TELEPERFORMANCE_Registration_document_2017

INTRODUCTION TO THE GROUP 1.2 Operations and strategy

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The acquisition of LanguageLine Solutions in September 2016breflected the Group’s strategic decision to develop high value-added Specialized services. Via its targeted acquisitions, the Group is gradually positioning itself as a globally recognized high-end player in Business Process Outsourcing (BPO). Teleperformance’s objective is to continue posting organic growth of +6% per year until 2022. Meanwhile, management intends to continue its targeted acquisition strategy, focusing on high value- added Specialized services. The Group’s goal is to attain revenues of at least €6bbillion in 2022. Thanks to the positive impact on margins of the ramp-up of Specialized services, which are expected to account for at least 20% of revenues, coupled with the benefits derived from specific profitability-enhancing initiatives, the Group is aiming an EBITA of at least €850bmillion in 2022. debt at Decemberb31 st , 2017. The Group’s financial structure remains strong with shareholders’ equity of €1,922bmillion and €1,326bmillion in net debt. The ratio of net debt to EBITDA thus amounted to 1.84. 1.2.5.2 Changes in Group governance and organization To ensure the complete success of the 2018-2022 strategic plan and comply with the wishes of Group shareholders, the Board of Directors took the unanimous decision to recenter the Group’s governance around a strengthened organizational structure, in order to speed up decision-making and implementing processes. Governance Daniel Julien, who continues to chair the Board of Directors, was appointed Chief Executive Officer. This decision reflects the Board’s renewed confidence in Daniel Julien who, as Chief Executive Officer, is entirely responsible for the management and representation of Teleperformance. Paulo César Salles Vasques resigned from his position as Group Chief Executive Officer. At the Board’s request, he holds the role of non-executive Chairman of Teleperformance Brazil. Organization The Group’s organization is becoming “leaner” and more “agile”: it is founded on a highly diverse management team in terms of nationality and culture, with long-standing careers within the Group. This change has given rise to the following appointments and responsibilities. Olivier Rigaudy as Deputy Chief Executive Officer and Chief Financial Officer, and Leigh Ryan as Chief Legal and Compliance Officer, both report to Daniel Julien.

b. Targeted acquisitions The Group’s acquisitions strategy primarily targets medium-sized companies offering a robust business and financial model and synergies with the Group’s client base, operations and business activity. The Group specifically keeps an eye out for all opportunities in high-value Specialized services that would enable it to strengthen its growth and profitability profile. 1.2.4.3 2022 targets The outsourced market continues to offer attractive growth opportunities in many parts of the world, and presents definite consolidation potential. This positive trend is bolstered by an increasingly complex and digitized environment, with steady growth in customer interactions. 1.2.5.1 Revenue and earnings Annual targets were reached once again in 2017, with +9.0% like- for-like revenue growth and a 13.3% EBITA margin, up 210bbasis points from the previous year. These figures confirm the appropriateness of the Group’s strategic development decisions, in particular the development of the new high value-added Specialized services business with the acquisition of LanguageLine Solutions in September 2016, which combines a dynamic growth profile with high profitability levels. Like-for-like growth was strong in the Group’s two business lines, with Core services up +8.8%, primarily driven by strong business momentum in the Ibero-LATAM region, and Specialized services up +10.4%. Reported revenue growth amounted to +14.6%. This includes the first full year of consolidation for LanguageLine Solutions, and a currency loss mainly resulting from the decline in the US dollar against the euro compared to 2016. The Group’s 2017bmargin growth was a result of the following: ■ for Core services, strong growth in the Ibero-LATAM region, which has the highest margins of the Group’s three linguistic regions, and ongoing improvement in CEMEA margins; ■ for Specialized services, strong growth in outsourced visa application management (TLScontact), and the first full year of consolidation for LanguageLine Solutions, a highly profitable business. Net profit Group share came in at €312bmillion, up +46.0% from 2016. Diluted earnings per share amounted to €5.31, up from €3.67 in 2016. The Group’s financial structure includes financing arrangements for the acquisition of LanguageLine Solutions on Septemberb19 th , 2016. Strong positive cash flow enabled a sharp reduction in 1.2.5 2017 highlights

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Teleperformance bb - bb Registration documentbb 2017