Worldline - 2019 Universal Registration Document

FINANCIALS Consolidated financial statements

The weighted average duration of the liability is 16.1 years.

As at December 31, 2019

As at December 31, 2018

(In € million)

Change in plan assets Fair value of plan assets at January 1

426.3

141.5

13.5 39.7 14.2

Exchange rate impact

3.8

Actual return on plan assets Employer contributions Employees contributions Benefits paid by the fund

-7.6

6.1 1.0

6.8

-8.5

-6.2

0.0

Business combinations/(disposals) Fair value of plan assets at December 31

287.7 426.3

492.0

Reconciliation of prepaid/(accrued) Benefit cost (all plans) Funded status-post employment plans

-136.6

-109.8

-6.9

Funded status-other long term benefit plans Asset ceiling limitation at December 31

-6.5 -0.4

0.0

Prepaid/(accrued) pension cost

-143.5

-116.7

Reconciliation of net amount recognized (all plans) Net amount recognized at beginning of year

-116.7

-114.0

-28.0

Net periodic pension cost

-11.3

2.5

Benefits paid by by the employer

2.5 6.1

14.2

Employer contributions

0.4

Business combinations/(disposals)

13.9

-16.0

Amounts recognized in Other Comprehensive Income

-14.0

0.1

Exchange rate

0.1

Net amount recognized at end of year

-143.5

-116.7

E

Actuarial assumptions Worldline obligations are valued by independent actuaries, based on assumptions that are periodically updated. These assumptions are set out in the table below:

United Kingdom

Eurozone

Switzerland

2019

2019

2019

2018

2018

2018

0.80% ~ 1.30%

1.60% ~ 2.05% 0.30% 0.80%

2.10% 2.90%

Discount rate as at December 31 Inflation assumption as at December 31

2.95% 3.20% 1.45% 1.45%

n/a

n/a

The inflation assumption is used for estimating the impact of indexation of pensions in payment or salary inflation based on the various rules of each plan.

Sensitivity of the defined benefit obligations of the significant plans to the discount rate and inflation rate assumptions is as follows:

Discount rate +25bp

Inflation rate +25bp

United Kingdom main pension plan

-4.9% -4.0% -5.3% -2.8%

+3.9% 0.0% 0.0%  0.0%

Swiss main pension plan German main pension plan Belgian main pension plan

These sensitivities are based on calculations made by assumptions for the United Kingdom. The defined benefit independent actuaries and do not include cross effects of the obligations of the plans in Switzerland, Belgium and Germany various assumptions, they do however include effects that the are not sensitive to the inflation assumption. inflation assumption would have on salary increase

279 Universal Registration Document 2019