Worldline - 2019 Universal Registration Document

FINANCIALS Parent company financial statements

Reconciliation between pension commitments and computed provision is presented below:

Pensions

(In € thousand)

Commitment at January 1, 2019

26,791

Service cost Interest costs

2,162

469 -35

Contributions paid

Actuarial gain and loss generated during the period Commitment at December 31, 2019 Unrecognized actuarial gain and loss Pensions provision at December 31, 2019

5,345

34,732 -15,354 19,378

Evaluation is carried out on an individual basis and main parameters of the calculation are described below: Discount rate: 0.8%; ● Wages inflation: 1.6%; ● Estimated turnover rate: ●

Executives ( i.e. “cadres”): decreasing according to age ● (from 7.80% at the age of 20 years old to zero as from 56 years old), Non executives ( i.e. “non-cadres”): decreasing according ● to age (from 5.46% at the age of 20 years old to zero as from 56 years old).

Financial borrowings Note 10

CLOSING NET DEBT

Gross value December 31, 2019

Gross value December 31, 2018

Up to 1 year

1 to 5 years

>5 years

(In € thousand) Bank overdraft

E

404,806

404,806

419,223

Bonds

356

500,000

600,000 1,100,356

Redemption Premiums on Bonds (Oceane)

6,000 64,577

24,000

9,468

39,468 64,577

Other borrowings

297

Group current accounts

0

Total Borrowings

475,739 524,000 609,468 1,609,208 419,519

Group current accounts

-24,120

-24,120

-116,315 38,593

Securities

Note 6 Note 6

17,191

17,191

Cash at bank

883

883

981

Closing net debt

-481,785 -524,000 -609,468 -1,615,253 -496,260

Bonds are composed of: € 500 million of BOND dated September 18, 2019 (coupon ● 0.25%). Deferred interest amounts to € 0.4 million at the end of 2019; € c. 600 million of OCEANE dated July 30, 2019. As there is ● no coupon, no deferred interest was booked. Moreover, OCEANE was issued at 107%. A redemption premium is booked in financial debt for € 39.5 million. This premium is spread on the OCEANE maturity (7 years). Other financial debts include € 63 million for the new “commercial paper” financial program, implemented since June 13, 2019.

On December 20, 2018 Worldline signed a € 600 million revolving credit facility for 5 years, maturing on December 2023 with extensible maturity to December 2025 (depending on Worldline’s request). In October 2019, a first extension was requested and approved by banks. As a consequence, the facility comes to maturity in December 2024. Under the terms of the initial agreement, this facility included one financial covenant, which was the consolidated leverage ratio (net debt divided by Operating Margin before Depreciation and Amortization) that should not be greater than 2.5 times. In December 2019, the cancellation of the financial covenant was obtained and this facility does not include any more this financial covenant. At the end of December 2019, the Facility is not used.

311 Universal Registration Document 2019