WORLDLINE_REGISTRATION_DOCUMENT_2017

Financials Parent company financial statements

Evaluation of Participations interests Note « Rules and accounting methods – Financial Assets » and Note 3 « Financial Fixed Assets » Key Audit Matters Our audit approach

We examined the procedures implemented by the Company to determine the value-in-use of the participating interests. We performed the following procedures: For valuation based on historical value, we verified the ● consistency of the part of interest in the investment’s shareholder equity as calculated by the Company with the financial statements of the related entities. For valuation based on forecasts: ● obtain the cash flow forecasts of the related entities and ● assess their consistency with the business plans for each GBL (Global Business Line) approved by Management;; verify the consistency of the assumptions used and ● confirm through interviews with Management and other procedures, future growth perspectives

As of December 31, 2017, Participating interests are recorded on the balance sheet at a net book value of € 647.5 million, or 77% of total assets. Participating interests are initially booked at their acquisition cost. An impairment loss is recognized when the acquisition cost exceeds the value-in-use. Value-in-use is determined based on the Company’s part of interest in shareholding equities of the related entities as well as on estimated future profitability. Estimated future profitability requires Management to use its judgement especially relating to cash flow forecasts. We considered the valuation of participating interests as a key audit matter, given the weight of these assets in the balance sheet and the importance of Management’s judgments in the determination of cash flow assumptions.

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Worldline 2017 Registration Document