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Financial Report and Unaudited* Condensed Financial Statements for the Half Year Ended June 30, 2016

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Financial Report and Unaudited* Condensed Financial Statements for the Half Year Ended June 30, 2016 2016 HALF YEAR FINANCIAL REPORT Financial Report and Unaudited* Condensed Financial Statements for the Half Year Ended June 30, 2016 AUGUST 25, 2016 *The Condensed Financial Statements for the half year ended June 30, 2016 were subject to a limited review by Vivendi’s Statutory Auditors. Their Report on the 2016 half year financial information follows the Condensed Financial Statements. VIVENDI Société anonyme with a Management Board and a Supervisory Board with a share capital of €7,076,387,571.00 Head Office: 42 avenue de Friedland – 75380 PARIS CEDEX 08 – FRANCE IMPORTANT NOTICE: READERS ARE STRONGLY ADVISED TO READ THE IMPORTANT DISCLAIMERS AT THE END OF THIS FINANCIAL REPORT. Thursday August 25, 2016 SELECTED KEY CONSOLIDATED FINANCIAL DATA ........................................................................................................................................ 4 I- FINANCIAL REPORT FOR THE FIRST HALF OF 2016 ..................................................................................................................................... 5 OVERVIEW ............................................................................................................................................................................................................. 5 1 EARNINGS ANALYSIS: GROUP AND BUSINESS SEGMENTS ............................................................................................................................. 6 1.1 CONSOLIDATED STATEMENT OF EARNINGS AND ADJUSTED STATEMENT OF EARNINGS ........................................................................................... 7 1.2 EARNINGS ANALYSIS: GROUP ........................................................................................................................................................................... 8 1.3 PERFORMANCE ANALYSIS: BUSINESS SEGMENTS .............................................................................................................................................. 12 1.4 GAMELOFT .................................................................................................................................................................................................. 17 2 TREASURY AND CAPITAL RESOURCES ......................................................................................................................................................... 18 2.1 NET CASH POSITION AND EQUITY PORTFOLIO .................................................................................................................................................... 18 2.2 CHANGES IN NET CASH POSITION .................................................................................................................................................................. 19 2.3 CASH FLOW FROM OPERATIONS ANALYSIS ....................................................................................................................................................... 20 2.4 ANALYSIS OF INVESTING AND FINANCING ACTIVITIES ......................................................................................................................................... 22 3 OUTLOOK ................................................................................................................................................................................................... 23 4 FORWARD-LOOKING STATEMENTS – MAJOR RISKS AND UNCERTAINTIES .................................................................................................. 23 5 OTHER DISCLAIMERS ................................................................................................................................................................................. 23 II- APPENDIX TO THE FINANCIAL REPORT: UNAUDITED SUPPLEMENTARY FINANCIAL DATA ........................................................ 24 1 QUARTERLY REVENUES, INCOME FROM OPERATIONS AND EBITA BY BUSINESS SEGMENT ....................................................................................... 24 III - CONDENSED FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED JUNE 30, 2016 .................................................................. 26 CONDENSED STATEMENT OF EARNINGS ...................................................................................................................................................... 26 CONDENSED STATEMENT OF COMPREHENSIVE INCOME ........................................................................................................................ 27 CONDENSED STATEMENT OF FINANCIAL POSITION .................................................................................................................................. 28 CONDENSED STATEMENT OF CASH FLOWS ................................................................................................................................................. 29 CONDENSED STATEMENTS OF CHANGES IN EQUITY ................................................................................................................................. 30 NOTES TO THE CONDENSED FINANCIAL STATEMENTS ............................................................................................................................ 33 NOTE 1 ACCOUNTING POLICIES AND VALUATION METHODS .................................................................................................................................. 33 NOTE 2 MAJOR CHANGES IN THE CONSOLIDATION SCOPE AND THE EQUITY PORTFOLIO ............................................................................................. 33 NOTE 3 SEGMENT DATA ................................................................................................................................................................................. 36 NOTE 4 INTEREST .......................................................................................................................................................................................... 38 NOTE 5 INCOME TAXES ................................................................................................................................................................................... 39 NOTE 6 EARNINGS PER SHARE ......................................................................................................................................................................... 39 NOTE 7 GOODWILL ........................................................................................................................................................................................ 39 NOTE 8 CONTENT ASSETS AND COMMITMENTS ................................................................................................................................................. 40 NOTE 9 INVESTMENTS IN EQUITY AFFILIATES ...................................................................................................................................................... 41 NOTE 10 FINANCIAL ASSETS ............................................................................................................................................................................. 43 NOTE 11 CASH POSITION .................................................................................................................................................................................. 45 NOTE 12 EQUITY ............................................................................................................................................................................................. 45 NOTE 13 PROVISIONS ....................................................................................................................................................................................... 46 NOTE 14 SHARE-BASED COMPENSATION PLANS .................................................................................................................................................. 47 NOTE 15 BORROWINGS AND OTHER FINANCIAL LIABILITIES .................................................................................................................................... 48 NOTE 16 RELATED-PARTY TRANSACTIONS ........................................................................................................................................................... 51 NOTE 17 CONTRACTUAL OBLIGATIONS AND OTHER COMMITMENTS ........................................................................................................................ 51 NOTE 18 LITIGATION ........................................................................................................................................................................................ 52 NOTE 19 SUBSEQUENT EVENTS ......................................................................................................................................................................... 57 IV- STATEMENT ON 2016 HALF-YEAR CONDENSED FINANCIAL STATEMENTS .................................................................................... 58 V- STATUTORY AUDITORS’ REVIEW REPORT ON 2016 HALF-YEAR FINANCIAL INFORMATION ........................................................ 58 Financial Report for the half-year 2016 Vivendi / 3 Thursday August 25, 2016 Selected key consolidated financial data Preliminary comment: Vivendi deconsolidated GVT, SFR, Maroc Telecom group and Activision Blizzard as from May 28, 2015, November 27, 2014, May 14, 2014, and October 11, 2013, respectively,
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