Worldline - Registration Document 2016

Financial Information concerning the Group’s Assets and Liabilities, Financial Condition andResults Group Consolidated Financial Statements

restriction calculated based on the following parameters: 2016 takes into account the effect of the five-year lock-up period As of December 31, 2016, the € 0.3 million cost related to “Sprint”

Risk free interest rate: 0.11%;

●

Borrowing-lending spread: 5%.

●

Note 8

Net Financial Result

Net financial expense amounted to € 5.9 million for the period (compared to € 5.9 million in 2015) and was composed of: A net cost of financial debt of € 0.6 million (€ 1.4 million in ● 2015); and A non-operational financial costs of € 5.3 million. ● Net cost of financial debt of € 0.6 million in 2016 is made of: € 1.4 million of cost of gross debt of the Group’s subsidiaries ● representing an average interest rate of 0.97%; and

subsidiaries representing an average interest rate of 0.40%. € 0.9 million of remuneration of gross cash of the Group’s ● The other financial income/expenses were mainly composed of costs for € 2.0 million (Cf. Note 21 “Pensions and similar foreign exchange losses for € 2.9 million and pension financial benefits”).

Note 9

Income tax expenses

CURRENTANDDEFERREDTAXES

December 31, 2016 12 months ended

December 31, 2015 12 months ended

(in € million)

Current taxes Deferred taxes

-43.2 -10.5 -53.7

-32.7

-6.2

Total

-38.8

20

EFFECTIVETAXRATE The difference between the French standard tax rate and the Group Effective tax rate is explained as follows:

12 months ended December 31, 2016

12 months ended December 31, 2015

(in € million)

Profit before tax

204.0 34.4%

142.2 38.0%

French standard tax rate

Theoretical tax charge at French standard rate

-70.2

-54.0

Impact of permanent differences Differences in foreign tax rates

26.2

8.2

8.1

12.2

Movement on recognition of deferred tax assets

-9.6 -2.3 -0.6 -1.9 -3.2

2.7

Equity-based compensation Change in deferred tax rates

-1.0 -2.3 -1.0 -2.4

Withholding taxes CVAE net of tax French Tax credit

1.8

1.8

Other

-2.0

-3.0

Group tax expense Effective tax rate

-53.7

-38.8

26.3%

27.3%

195

Worldline 2016 Registration Document