Teleperformance SE

21-25 rue Balzac 75008 , T +33 1 53 83 59 00 March 20, 2018, F +33 1 53 83 59 01

Dear Shareholder, www.teleperformance.com

Teleperformance recorded another strong year in 20171 and is well positioned for the future with an updated five- year strategic plan as announced in October 20172. The strategic plan aims to enhance Teleperformance’s industry verticals expertise, expand into new geographies, and strengthen its digital and omnichannel integration. The plan sets the following objectives for 2022: - Revenue of over EUR 6 billion; - EBITA before non-recurring items of over EUR 850 million; - Organic and acquisition-led growth.

The announced five-year strategic plan is ambitious yet achievable with a leaner, more agile organization that manages risks appropriately. To ensure the success of the 2018-2022 strategic plan, the Board unanimously decided to review the Group’s governance, in a bid to speed up decision-making as well as take into account the views and wishes expressed by our shareholders. More specifically, over the past year we have met with most of the stewardship teams of our shareholders, sometimes in more than one occasion, to address the concerns surrounding the governance and remuneration structures at Teleperformance.

We are excited for the future of Teleperformance and have made changes to deliver to our shareholders, which required the cooperation and understanding of our executive team. To this end, Daniel Julien, who previously served as Teleperformance’s Executive Chairman, is now assuming the role of Chief Executive Officer (CEO) following Paulo César Salles Vasques’s decision to step down as Group CEO. Olivier Rigaudy, Teleperformance’s Group Chief Financial Officer (CFO), has been appointed as Group Deputy CEO. The Board, upon recommendation of the Remuneration and Appointments Committee, has also appointed a new Lead Independent Director in light of the new combined Chairman and CEO. Patrick Thomas’s appointment as a Lead Independent Director will support Teleperformance in successfully leading the ambitious growth plan for its businesses by sharing both his extensive experience as an executive officer of international organizations and his expertise in fast growing business environments. Mr. Thomas will be the shareholders’ dedicated contact and will be responsible for organizing, among other things, the long-term Group governance.

The Board fully appreciated the positive cooperation spirit of Paulo César Salles Vasques that contributed to this governance modification. We believe there is now further clarity into the decision-making process within our executive team as well as mitigating any concerns with the new combined Chairman and CEO role by appointing a new strong Lead Independent Director. We have also amended the pay terms of our Chairman and CEO, Daniel Julien, to reduce the fixed portion of his package without increasing his total remuneration as well introducing a clawback mechanism on his variable pay.

We strongly believe that the changes made are an improvement to what was currently in place and look to our shareholders to support our decisions and strategy by approving all the resolutions at the upcoming Annual General Meeting (AGM) on 20 April 2018 and allow us to focus on implementing the new strategic plan and overseeing management’s execution of it.

Yours sincerely,

Robert Paszczak, Chairman of the Remuneration and Appointments Committee

1 See pages 4 and 5 of the 2017 Registration Document (at http://www.teleperformance.com/media/3152084/ddr-2017-ev- def.pdf) for a summary on performance, including historic figures and our press release dated February 28, 2018 at http://www.teleperformance.com/media/3121779/teleperformance-pr-2017-fy-results-en.pdf). 2 Please refer to our press release dated October 13, 2017 at http://www.teleperformance.com/media/2949250/teleperformance-pr-strategy-update-and-q3-2017-revenue-eng.pdf Teleperformance SE, société européenne au capital de 144.450.000 €. 301 292 702 RCS Paris. 21-25 rue Balzac, 75406 Paris Cedex 08 France. Siret 301 292 702 00059. Code APE 6420Z.

REVIEW OF THE GROUP’S GOVERNANCE STRUCTURE

The fulfilment of the 2018-2022 plan requires responsiveness in Teleperformance’s decision-making process and operational efficiency. In addition, the Board had to take into account the confusion on the responsibilities within our shareholders on having a separate Executive Chairman and a Group CEO, which manifested itself with a low level of support given to our pay policies at our 2017 AGM. The current structure no longer appeared to be viable both from an operational perspective as well as the demands of our shareholders.

To determine the appropriate structure to deliver the updated strategic plan as well as build a governance structure that is fully supported by our shareholders, the Remuneration and Appointments Committee organized discussions and meetings within and outside the Group, to obtain a comprehensive yet precise opinion of both employees and shareholders.

The review resulted in the Remuneration and Appointments Committee to recommend a governance structure under a single leadership where the roles of Chairman and CEO were combined under Daniel Julien assisted by a strengthened senior executive team. In accordance with the recommendation of the Remuneration and Appointments Committee, Olivier Rigaudy, Group CFO since 2010, was appointed as Deputy CEO by the Board.

The new structure has been defined and implemented jointly and in full agreement with Paulo César Salles Vasques. To facilitate a smooth implementation of the new structure, Paulo César Salles Vasques offered to step down from his position of CEO and Director of Teleperformance and, consequently, from all his positions within the Group. At the request of the Committee and the Board, Paulo César Salles Vasques agreed, however, to continue his non-executive chairmanship of Teleperformance CRM SA in Brazil to maintain and develop the Group’s business in this area that he knows particularly well. The Brazilian operations comprises approximately 17,000 employees and represents 5% of the Group’s revenues.

APPOINTMENT OF A LEAD INDEPENDENT DIRECTOR

Patrick Thomas has been appointed as the first lead independent director of the Group to provide additional guarantees to our shareholders on the existence of a well-balanced and controlled system of corporate governance at Teleperformance. Following his appointment, the Board now comprises fourteen directors, of whom nine are independent directors (64%) and six are women (43%).

As the Lead Independent Director, Patrick Thomas will be our shareholders’ dedicated contact on issues that fall within the remit of the Board. In addition, Patrick Thomas will meet at least once a year with the independent directors of the Board to discuss matters of his own choice, including the continuous review of the current governance structure.

Patrick Thomas served, in particular, as Chief Executive Officer of U.K., chaired the Lancaster Group, and Chief Executive Officer of and Manager of Hermès International. He is currently a director of SA, where he chairs the Compensation Committee, is a member of the Audit and the Appointments and Governance committees.

FINANCIAL TERMS OF PAULO CESAR SALLES VASQUES’S DEPARTURE

The financial terms of Paulo César Salles Vasques’s departure have been made in direct accordance of the legal agreements existing between him and Teleperformance and our remuneration policy in force (as adopted by shareholders at the 2017 AGM). No positive discretion has been used by the Remuneration and Appointments Committee.

With the exception of the non-compete compensation and the notice period compensation, which are legal obligations for Teleperformance, all other components were pro-rated for time and performance until the effective date of Paulo César Salles Vasques’ departure, i.e. until October 13, 2017.

ALIGNING DANIEL JULIEN’S REMUNERATION WITH THE REQUESTS OF OUR SHAREHOLDERS

The Remuneration and Appointments Committee recommended no increase to his total remuneration for the fifth consecutive year. Daniel Julien’s maximum total remuneration (both fixed and variable components) remains unchanged at USD 5,250,000.

To take account of shareholders’ expectations, however, the Remuneration and Appointments Committee has decided to reduce the fixed portion of Daniel Julien’s to 50 percent of total remuneration (from 70 percent in previous years since 2013) and to increase the variable portion to 50 percent (from 30 percent in respect of previous years since 2013).

In addition, the Committee introduced a clawback mechanism to his variable portion of his remuneration package. Finally, the Committee reduced the limitation of the non-compete and non-poaching clauses binding on Daniel Julien in the event of his departure to 2 years, and so the corresponding compensation has been reduced to 2 years (fixed and variable) remuneration.

MAINTAINING OLIVIER RIGAUDY’S EMPLOYMENT CONTRACT

Mr Rigaudy has been Group Chief Financial Officer (CFO) of Teleperformance SE since February 2010 and served as its Deputy Chief Executive Officer since October 2017. After Paulo César Salles Vasques’s decision to step down as Group CEO, the Board decided to appoint him Deputy CEO and maintain his employment contract as Group CFO:

- As Deputy CEO, he assumes additional responsibilities of a more political and strategic nature, such as supporting the implementation of the Group’s overall strategy in line with the orientations and decisions defined by the Board and the Chairman and CEO or the participation in the preparation of the Group’s development plan as well as structural changes of the Group.

- His responsibilities as Group CFO include performing technical functions, such as the facilitation and supervision of financial and legal departments, the relations with banking institutions as part of the Group’s financing operations, and the monitoring of the Group’s accounting closings. As part of his remuneration as Group CFO, the variable remuneration is subject to criteria on specific objectives that follow the usual Group pattern for its executives’ remuneration scheme. More specifically, the criteria for 2018 are: o monitoring of the results and free cash-flow generation for the Group, o generating a certain level of foreign currency gains, o re-negotiation of financing agreements, o deployment of an ERP system, o study of the IFRS16 impact on the consolidated financial statements, o application of the cost benchmarking method of the Group on selected subsidiaries, o development of the Teleperformance audience in the financial and investors communities.

All the 2018 remuneration elements of Mr. Rigaudy, as Deputy CEO and as Group CFO, have been disclosed and described in the 2017 Registration Document. As it does for its executive officers, Teleperformance will disclose retrospectively the aggregate level of achievement of the criteria.