WORLDLINE_REGISTRATION_DOCUMENT_2017

Financials Financial review [GRI 102-7]

Other changes of €-8.4 million corresponded to: Foreign exchange losses and other financials costs for ● € 4.9 million; Other non-recurring items for € 3.5 million. ● As a result, the Free Cash Flow (FCF ) generated in 2017 was € 176.0 million. The net acquisitions of € 220.1 million represented mainly the net cash effects linked to the acquisitions realized in 2017 (First Data Baltics, Digital River World Payment, MRL Posnet, Diamis and In Touch) and the cash/debt included in the acquired

companies at the date of the closing. It also includes the effect of disposals of Cheque Service activities and Paysquare Belgium. In December 2017, the € 10.7 million Capital increase corresponded to issuance of common stock following employee’s exercise of stock options issued in September 2014 and in September 2015. In 2016, it is reminded the proceeds from disposal of the Visa Share of € 35.6 million related to the cash impact of the Visa share disposal in Belgium. Foreign exchange rate fluctuation which is determined on debt or cash exposure by country had a negative impact on net cash of €-5.1 million.

Financing policy

E.3.3

Financing structure Worldline’s expected liquidity requirements are currently fully covered by the positive cash position and if needed, would be financed by long-term committed loans or other appropriate long-term financial instruments. In this respect, on June 26, 2014, Worldline SA (as Borrower) signed a Revolving Credit Facility (RCF) with Atos SE (as Lender) for an amount € 300 million, in order to cover the Group’s liquidity requirements, including temporary fluctuations in its working capital needs, that was renewed on November 2 nd , 2015 and transferred to Bull International (subsidiary of the Atos group) on January 2, 2016. The RCF has a duration until June 26 th , 2019, is concluded at customary market conditions and contains no financial covenants.

Investment policy Worldline has a policy to lease its office space and other real estate assets either administrative or technical. Some other fixed assets such as IT equipment and company cars may be financed through leases depending on the cost of funding and on the most appropriate type of financing for each new investment.

E

191

Worldline 2017 Registration Document