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2018/2019/2020 Financial Report CONTENTS General 2 Person Responsible 3 Presentation Financial statements 93 of the Company 5 144.1 Consolidated Financial Statements 94 1.1 Profile of Dassault Systèmes 6 4.2 Parent company financial statements 143 1.2 Financial Summary: A Long History of Sustainable Growth 7 4.3 Legal and Arbitration Proceedings 175 1.3 History 9 1.4 Company Organization 14 1.5 Business Activities 15 Corporate governance 177 1.6 Research and development 28 5 5.1 The Board’s Corporate Governance Report 178 1.7 Risk Factors 30 5.2 Internal Control Procedures and Risk Management 214 5.3 Transactions in Dassault Systèmes shares by the Management of Dassault Systèmes 218 Social, Societal 5.4 Information on the Statutory Auditors 220 and Environmental Responsibility 39 2 5.5 Declarations regarding the administrative 2.1 Social responsibility 41 and management bodies 220 2.2 Societal responsibility 49 2.3 Environmental responsibility 54 Information about 2.4 Business Ethics and Vigilance Plan 60 6 Dassault Systèmes SE, the share capital 2.5 Reporting Methodology 65 and the ownership structure 221 2.6 Independent verifier’s report on Consolidated Non-financial Statement Presented in the 6.1 Information about Dassault Systèmes SE 222 management report 68 6.2 Information about the Share Capital 226 2.7 Statutory Auditors’ Attestation on the information 6.3 Information about the Shareholders 229 relating to the Dassault Systèmes SE’s total amount 6.4 Stock Market Information 235 paid for sponsorship 71 Financial review and prospects 73 General Meeting 237 7 7.1 Presentation of the Resolutions Proposed 3 3.1 Operating and Financial Review 74 by the Board of Directors to the General Meeting 3.2 Financial Objectives 90 of May 26, 2020 238 3.3 Interim and Other Financial Information 91 7.2 Text of the Draft Resolutions Proposed by the Board of Directors to the General Meeting of May 26, 2020 247 Cross-reference tables 257 ANNUAL REPORT 2019 ANNUAL FINANCIAL REPORT This document is an English-language translation of Dassault Systèmes’ Document d’enregistrement universel (Annual report), which was filled with the AMF (French Financial Markets Authority) on March 19, 2020, under regulation (UE) 2017/1129 without prior approval in accordance with Article 9 of such regulation. Only the French version of the Document d’enregistrement universel is legally binding. DASSAULT SYSTÈMES ANNUAL REPORT 2019 1 GENERAL This Annual report also includes: In compliance with Article 19 of European Regulation no. 2017/1129 of the European Parliament and of the the annual financial report to be prepared and published by European Council, the following information is incorporated every listed company within four months of the end of its by reference in this Annual report : fiscal year, pursuant to Article L. 451-1-2 of the Monetary and Financial Code and Article 222-3 of the French Financial the consolidated financial statements on pages 88 to 129 Markets Authority (“AMF”) General Regulation; and (inclusive), the parent company financial statements on pages 135 to 157 (inclusive), and the related audit reports the annual management report of Dassault Systèmes SE’s on pages 130 to 134 and 159 to 163 (inclusive) of the Board of Directors, which must be provided to the Annual Report ( General Meeting of Shareholders approving the financial Document de référence) for the year 2018 statements for each completed fiscal year, pursuant to filed with the AMF on March 26, 2019, under no. D. 19- 0202; Articles L. 225-100 et seq. of the French Commercial Code. The index set forth on pages 257 and 258 provides cross- the financial information on pages 69 to 86 (inclusive) of references to the relevant portions of these two reports. the Annual Report (Document de référence) for the year 2018 filed with the AMF on March 26, 2019, under no. D. All references to “euro” or to the symbol “€” refer to the legal 19-0202; currency of the French Republic and certain countries of the European Union. All references to the “U.S. dollar” or to the the consolidated financial statements on pages 108 to 147 symbol “$” refer to the legal currency of the United States. (inclusive), the parent company financial statements on pages 153 to 174 (inclusive), and the related audit reports As used herein, “Dassault Systèmes”, the “Company” and the on pages 148 to 152 and 175 to 179 (inclusive) of the “Group” refer to Dassault Systèmes SE and all the companies Annual Report (Document de référence) for the year 2017 included in the scope of consolidation. filed with the AMF on March 21, 2018, under no. D.18- “Dassault Systèmes SE” refers only to the European parent 0157; company of the Company, which is governed by French law. the financial information on pages 89 to 105 (inclusive) of the Annual Report (Document de référence) for the year 2017 filed with the AMF on March 21, 2018, under no. D.18-0157. The portions of these documents which are not incorporated herein are either not relevant for current investors, or are covered in another section of this Annual report . 2 ANNUAL REPORT 2019 DASSAULT SYSTÈMES PERSON RESPONSIBLE Person Responsible for the Annual report Bernard Charlès – Vice-Chairman and Chief Executive Officer. Certification by the Person Responsible for the Annual report Vélizy-Villacoublay, March 18 2020. all the companies included in the scope of consolidation, and that the “management report”, the content of which is cross- I hereby certify, after having taken all reasonable measures referenced in a table at page 258 , included in this Annual for this purpose, that the information contained in this report , presents a faithful representation of the business Annual report (Document d’enregistrement universel) is, trends, results and financial situation of Dassault Systèmes SE to my knowledge, in accordance with the facts and that no and all the companies included in the scope of consolidation information liable to affect its significance has been omitted. as well as a description of the principal risks and uncertainties I certify that, to my knowledge, the financial statements which they face. have been prepared in accordance with applicable accounting Bernard Charlès standards and give a faithful representation of the assets, financial situation and results of Dassault Systèmes SE and Vice-Chairman and Chief Executive Officer DASSAULT SYSTÈMES ANNUAL REPORT 2019 3 4 ANNUAL REPORT 2019 DASSAULT SYSTÈMES 1 PRESENTATION OF THE COMPANY CONTENTS 1.1 Profile of Dassault Systèmes 6 1.5 Business Activities 15 1.5.1 Dassault Systèmes 15 1.2 Financial Summary: A Long 1.5.2 Dassault Systèmes’ Offering 19 History of Sustainable Growth 7 1.5.3 Material Contracts 26 1.3 History 9 1.6 Research and development 28 1.3.1 History and Development of the Company 9 1.6.1 Overview 28 1.3.2 Investments 12 1.6.2 Cloud and Services 29 1.6.3 Intellectual Property 29 1.4 Company Organization 14 1.4.1 Dassault Systèmes SE’s Position within the Company 14 1.7 Risk Factors 30 1.4.2 Principal Subsidiaries of the Company 14 1.7.1 Risks Related to the Dassault Systèmes’ Business 30 1.7.2 Financial and Market Risks 36 1.7.3 Insurance 37 DASSAULT SYSTÈMES ANNUAL REPORT 2019 5 Presentation of the Company 1 Profi le of Dassault Systèmes 1.1 Profile of Dassault Systèmes The purpose of Dassault Systèmes is to provide business and people with 3DEXPERIENCE universes to imagine sustainable innovations capable of harmonizing product, nature and life. We are a global leader in sustainable innovation. We provide Indeed, achieving a more sustainable future is only possible a virtual experience platform that allows customers to create by leveraging the virtual world. At Dassault Systèmes we innovative new products and services, and ultimately address believe that virtual worlds extend and improve the real the major challenges facing the world today: cities (how to world. create cities that are great places to live in?); resources (how The solutions of Dassault Systèmes transform the way to use them in a sustainable way?); healthcare (how can it be products are designed, simulated, produced, marketed and both globally managed and personalized?); how to supply and supported, leveraging the virtual world to improve the real produce; and education and research (how to empower the world. We have helped industrials disrupt how products are workforce of the future?). We believe that there is a new world designed and produced - with 3D design, with 3D digital to imagine, create and build by combining science, art and mock-up (DMU), with 3D Product Lifecycle Management technology. This led us , in 2012, to define our new horizon (PLM) and now with 3DEXPERIENCE. which we call 3DEXPERIENCE. We want to be the catalyst and enabler of the real Industry Renaissance of the 21st century. Combining the real and the virtual leads to new ways of inventing, learning, producing and doing business. 6 ANNUAL REPORT 2019 DASSAULT SYSTÈMES Presentation of the Company Financial Summary: A Long History of Sustainable Growth 1 We are a purpose-driven Company. Our purpose is at the We roll out our strategy by calling on our Strategic core of who we are and why people are joining Dassault Operational Elements: Brands, Industries and Geos. Systèmes. Dassault Systèmes’ Brands create great user experiences 1 Dassault Systèmes is a science-based, innovation-driven, and build vibrant user communities. Our Industries develop business-minded and long-term-oriented company. The Solution Experiences, industry-focused offerings which deliver Company’s 20,000 employees are driven by this ambition. specific value to companies and users in a particular industry.
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