ALTEN 2020 First Half Results

Simon Azoulay Chairman and Chief Executive Officer

Bruno Benoliel Deputy Chief Executive Officer

Paris, September 23rd 2020 DISCLAIMER

“This presentation may contain information that may be considered forward‐looking. This information constitutes trends or targets and should not be considered to be a forecast of the Company’s results or any other performance indicator.

By its nature, this information is subject to risk and uncertainty, which may be outside the Company’s control in certain cases. A more detailed description of these risks and uncertainties appears in the Company’s Universal Registration Document, available on its website (www.alten.com).”

September 23rd 2020 l ALTEN - 2020 First Half Results ACTIVITY IN FIRST HALF 2020

September 23rd 2020 l ALTEN - 2020 First Half Results ALTEN, LEADER IN AND TECHNOLOGY CONSULTING (ETC) Revenue: Oper. Profit on Activity: 36,100 employees €1,240.4 M €75.2 M ‐4.0% 6.1% 31,440 Including ‐7.3% organic of revenue engineers

INTERNATIONAL: DECEMBER 2019: 32,550 (‐1 110)

60.4% of revenue JUNE 2019: 31,200 (+240) €749.3 M: +3.9% including ‐2.2% organic 87% OF TOTAL HEADCOUNT +0.3% forex GEARING: ‐19.2 % : FOOTPRINT IN 39.6% of revenue OVER 25 COUNTRIES €491.1 M: ‐14% Including ‐13.7% organic

RESULTS ARE STRONGLY IMPACTED BY THE HEALTH CRISIS 4 September 23rd 2020 l ALTEN - 2020 First Half Results GEOGRAPHIC FOOTPRINT PER CONTINENT (NUMBER OF ENGINEERS)

12,840 EUROPE (EXCL. FRANCE) 13,150 FRANCE 10,950 ‐ 310 11,510 AMERICA 1,740 ‐ 560 5,050 ASIA I PACIFIC 1,640 4,130 +100 +920 860 MIDDLE‐EAST IAFRICA 770 +90

ENGINEERS

June 2020: 31,440

December 2019: 32,550 ( ‐ 1,110)

June 2019: 31,200 ( ‐ 240) ENGINEER HEADCOUNT IS ALMOST STABLE BETWEEN J UNE 2019 AND J UNE 2020. PARTIAL UNEMPLOYMENT FOR NEARLY 2,000 ENGINEERS (FRANCE & G ERMANY) +2% ADDITIONAL BENCH 5 ALTEN’S POSITIONING

Risk level Position Estimated gross margin % Group’s activity

CAPEX investments: internal R&D, IP, Risk Random & long term 0% 4 sharing, Edition, Prototyping, pre‐production

60% Work Packages 28% ‐ 35% Including 1/3 3 With Technical Direction & Methods on ALTEN’s sites

Consulting / Technical Assistance 2 With added value: HR management and 22% ‐ 35% 38% bench risks

1 Staffing, Freelance, 5 ‐ 18% 2%

NB: ‐ Level 5 = manufacturer (Tier‐1 plant & production) ‐ Level 6 = industry (OEM –completeintegrator)

6 September 23rd 2020 l ALTEN - 2020 First Half Results ALTEN’S POSITIONING

Engineering IS & Internal networks (Products & Services Delivered) (Enterprise Services =70% for IT/IS Department) =30%

Consulting PMO Customer BPO IS softwares & Support 1 Organisation Internal IS Support Software applications & 2 Expertise & package Training Operations

Engineering Engineering Network Industrial process & Internal BPO Support ALTEN’s Outsourced R&D Infra, Cloud, Manufacturing network infrastructures 1 & 2 Core business Conception & Design Security engineering

7 Breakdown of turnover per sector (As a % of revenue) as at June 30th 2020 Aerospace, Defense & Security Aerospace Automotive & Airbus, Safran, Leonardo, Thalès, Rail / Naval 19.0% , Rolls Royce… Automotive Volvo, Renault, PSA, VW, Volvo, Ford, FCA, 20.9% H1 2019 BMW, Jaguar, Land Rover, Continental, 22.0% Defence & Security Daimler, , ZF, Bosch … 24.7% H1 2019 Airbus DS, Thales, MBDA, Saab, Leonardo, Idémia … 14.3%

17.6% Telecoms & Media 4.7% Multimedia Ebay, Canal +, Prisa, Electronique, ASML, HP, Infineon … 6.8% Rail / Naval 13.5% , 4.4% Alstom, Bombardier, €1 240.4 M Siemens, Naval Group … 13.1% H1 2019 Telecoms 6.7% Orange, Telefonica, BT, Nokia, Ericsson, Qualcomm, Altice … 12.0% 11.6% Energy 8.2% 8.2% 5.5% EDF, Total, Gamesa, Siemens, GE, Technip, Chevron, Engie… Energy & Retail & Services Life Sciences & Public sector IT Services Life Sciences Decathlon, Amadeus, Accor Hotels, Sanofi, GSK, Novartis, Roche, 25.7% & Finance Reliance, BMD … Philips, GE…… 22.8% H1 2019 Banking Finance Insurance Other Industries 19.8% Société Générale, Axa, BNP, CNP, Saint‐Gobain, ABB, Valmet, Kone …… 18.5% H1 2019 Sabadell, Santander, BPCE, Intesa… OUR MARKETS

AUTOMOTIVE

. Already in a difficult situation in 2019, the automotive sector has been heavily impacted by the health crisis. 17.6% . Volumes similar to those of 2019 will not be reached end 2021/early 2022 but many technological programmes must be completed such as: electrification, autonomous vehicle, embedded software and connected services. Activity should resume in 2021.

RAIL/NAVAL

RAIL : • Investment programmes are continued as equipment in infrastructures and supplies. • Development of export markets. 4.4% • Opportunities in the Bombardier/Alstom merge. NAVAL : • Development of submarine markets – exportation & French Navy. • Growth and modernisation of ship fleets should not as for now be impacted by the decreased activity of cruise companies and maritime transport.

9 OUR MARKETS

AERONAUTICS/SPACE

. Civil areonautics are impacted by a decrease in air traffic which should resume very slowly. Therefore, panel consolidation at automakers as well as engine and equipment manufacturers is an opportunity to acquire market shares. Securing competences is essential to resume their activity. In addition to projects associated with Data, Digital and PLM to improve productivity, we may also foresee some projects of the future: autonomous aircraft, connected aircraft, carbon‐free aircraft, etc., which will boost activities 14.3% starting from 2022/2023.

. Space should resume growth as soon as 2021, after a year of financial scarcity due to changes in production and launching calendars. ALTEN’s positioning on engineering fields such as systems, mechanics, electronics and software development is promising whilst launchers are undergoing change.

DEFENCE & SECURITY

. Defence & Security were less impacted even though the activity slowed down during the health crisis. Export markets 4.7% are developing; European programmes are being pursued (tank and fighter aircraft). . ALTEN is also well positioned on a strong growth in IoT, Big Data, AI and Cyber security, hence enabling a positive outlook.

10 OUR MARKETS

ENERGY

.Even if it activity was resuming in 2018/2019, the sector of Oil & Gas is again impacted by declining oil prices. Several projects were postponed (excluding LNG projects). 12.0% .Nuclear is however not impacted by the crisis as several important programmes were launched (new EPR; refurbishment, security and dismantling of plants). .Investments in carbon‐free energy are growing.

LIFE SCIENCES

. Because of the health crisis, public administrations and pharmaceutical laboratories will change their strategies for relocation and more investment in clinical research. 8.2% . Projects associated with regulatory changes are being pursued. . Investment in connected medical equipment (ehealth, IoT, embedded softwares) will accumulate. . Compliance of quality systems with ISO 13485 standards is driving projects.

11 OUR MARKETS

TELECOMS

. The health crisis had little impact on telecoms due to the invoicing methods of providers and a 6.7% reinforced criticality of networks during the crisis. . 5G & FTTH projects are postponed to 2021. Developing investments in equipment and network infrastructures is necessary.

BFI/SERVICES/PUBLIC SECTOR

. Investments in Banks/Insurance are temporarily slowed down, however the outlook is favourable thanks to the development of digital (apps, website, infrastructure, cloud and security). 19.8% . Sharp decrease in Retail in Q2 and punctuel drop in investments. Need to accelerate the digital transformation of distribution channels (logistics and sales) and big data/analytics to support business by mid‐2021.

12 CONTINUED GROWTH STRATEGY THROUGH ACQUISITIONS

ALTEN HAS COMPLETED 3 ACQUISITIONS OVERSEAS: One Chinese/Japanese company specialised in IT (annual revenue: €18 M, 400 ) One company in South Korea specialised in software development and PLM (annual revenue: €21 M, 300 consultants) One company in US/Ukraine in IT and software development (annual revenue: €7.5 M, 100 consultants)

THANKS TO A TARGETED PLAN FOR EXTERNAL GROWTH, ALTEN PURSUES ITS INTERNATIONAL DEVELOPMENT, MORE SPECIFICALLY IN ASIA.

13 September 23rd 2020 l ALTEN - 2020 First Half Results SHAREHOLDER BASE AS AT SEPTEMBER 17TH 2020

• CAPITALISATION (AS AT 17/09/20): €2,631 M • NUMBER OF SHARES (AS AT 17/09/20): 34 200 567 Public FCPE Alten 82.65% 1.08% Paris % in shares Segment A FR 0000071946 (SRD) Founder % of voting rights 14.91% Treasury stock Founder 26.21% 1.36% FC Alten 0.95% Public 72.84%

14 September 23rd 2020 l ALTEN - 2020 First Half Results 2020 FIRST HALF RESULTS

September 23rd 2020 l ALTEN - 2020 First Half Results ONGOING INTERNATIONAL GROWTH

Revenue in €M 1,292.3 1,240.4

INT 1,099.9 983.7 FR 870.5 55.8% 764.2 54.2% 60.4% 53.3% 51.4% 48.2%

44.2% 48.6% 45.8% 39.6% 51.8% 46.7%

H1 2015 H1 2016 H1 2017 H1 2018 H1 2019 H1 2020

16 September 23rd 2020 l ALTEN - 2020 First Half Results HEADCOUNT PROGRESSION

37,200 36,100 33,700 32,550 engineers 31,440 engineers 29,600 engineers 28,000 24,700 engineers 24,100 21,400 engineers 20,433 63.7% 62.0% 64.6% 18,000 engineers 58.2% 54.8% INT 50.4%

36.4% FR 45.2% 41.8% 38.0% 35.4% 49.6%

2015 2016 2017 2018 2019 S1 2020

17 September 23rd 2020 l ALTEN - 2020 First Half Results GROWTH IN BUSINESS ‐ GROUP

Change/l-f-l €M H1 2019 Revenue H1 2020 Revenue H1 2019 Revenue

Revenue on a l-f-l basis 1,289.7 1,196.2 ‐7.3%

Change in scope 2.5 41.7 +3.1%

FX impact 2.5 +0.2%

Consolidated revenue 1,292.3 1,240.4 ‐4.0%

The sustained organic growth that started many years ago was stopped by the health crisis in Q2 2020.

18 September 23rd 2020 l ALTEN - 2020 First Half Results GROWTH IN BUSINESS ‐ FRANCE

Change/l-f-l €M H1 2019 Revenue H1 2020 Revenue H1 2019 Revenue

Revenue on a l-f-l basis 568.7 491.1 ‐13.7 %

Change in scope 2.5

FX impact

Consolidated revenue 571.2 491.1 ‐14.0 %

In Q2, the impacts of the health crisis in France were stronger than in other countries.

19 September 23rd 2020 l ALTEN - 2020 First Half Results GROWTH IN BUSINESS ‐ INTERNATIONAL

Change/l-f-l €M H1 2019 Revenue H1 2020 Revenue H1 2019 Revenue

Revenue on a l-f-l basis 721.1 705.1 ‐2.2%

Change in scope 41.7 +5.8%

FX impact 2.5 +0.3%

International - TOTAL 721.1 749.3 +3.9%

Although growth was stopped by the health crisis, its impacts are fewer than in France and more heterogeneous depending on the geographical areas.

20 September 23rd 2020 l ALTEN - 2020 First Half Results PROGRESSION OF ORGANIC GROWTH IN 2020

% Q1 Q2 H1

France 0.4% ‐27.9% ‐13.7%

International 6.8% ‐11.0% ‐2.2%

GROUP 3.9% ‐18.4% ‐7.3%

Growth on constant business days 3.0% ‐18.5% ‐7.8%

Very strong impact of the health crisis in Q2 2020

21 September 23rd 2020 l ALTEN - 2020 First Half Results BREAKDOWN OF TURNOVER PER GEOGRAPHICAL AREA AS AT JUNE 30TH 2020

YTD Change

Change in Organic, excl. COUNTRY % % Published Forex 2019 2020 scope Forex effect

FRANCE 571.2 44.2% 491.1 39.6% ‐ 14.0% ‐ 0.4% 0.0% ‐ 13.7% INTERNATIONAL 721.1 55.8% 749.3 60.4% 3.9% 5.8% 0.3% ‐ 2.2% NORTH AMERICA 151.3 11.7% 162.9 13.1% 7.6% 4.7% 2.2% 0.7% GERMANY 121.6 9.4% 106.5 8.6% ‐ 12.4% 3.6% 0.0% ‐ 16.0% SCANDINAVIA 102.8 8.0% 90.3 7.3% ‐ 12.1% 3.4% ‐ 0.9% ‐ 14.6% SPAIN 78.1 6.0% 79.4 6.4% 1.7% 4.8% 0.0% ‐ 3.1% BENELUX 77.7 6.0% 78.4 6.3% 0.8% 2.5% 0.0% ‐ 1.6% ASIA PACIFIC 43.5 3.4% 58.0 4.7% 33.4% 27.9% ‐ 1.5% 7.0% ITALY 51.4 4.0% 57.3 4.6% 11.3% 0.0% 0.0% 11.3% UK 39.4 3.0% 54.4 4.4% 38.1% 22.9% 0.0% 15.2% SWITZERLAND 25.1 1.9% 29.3 2.4% 17.0% 0.0% 6.8% 10.3% OTHERS 30.2 2.3% 32.9 2.7% 8.8% 0.0% ‐ 3.1% 11.9% TOTAL 1 292.3 100.0% 1 240.4 100.0% ‐ 4.0% 3.0% 0.2% ‐ 7.3%

22 September 23rd 2020 l ALTEN - 2020 First Half Results BREAKDOWN OF TURNOVER PER GEOGRAPHICAL AREA AS AT JUNE 30TH 2020

Q1 2020 Q2 2020 H1 2020 Organic, excl. Organic, excl. Organic, excl. COUNTRY Published Forex effect Published Forex effect Published Forex effect

FRANCE ‐ 0.1% 0.4% ‐ 28.2% ‐ 27.9% ‐ 14.0% ‐ 13.7% INTERNATIONAL 13.2% 6.8% ‐ 5.2% ‐ 11.0% 3.9% ‐ 2.2% NORTH AMERICA 24.7% 16.3% ‐ 7.9% ‐ 13.3% 7.6% 0.7% GERMANY ‐ 2.3% ‐ 6.3% ‐ 22.9% ‐ 26.0% ‐ 12.4% ‐ 16.0% SCANDINAVIA ‐ 2.3% ‐ 3.8% ‐ 22.3% ‐ 25.8% ‐ 12.1% ‐ 14.6% SPAIN 6.8% 1.4% ‐ 3.3% ‐ 7.6% 1.7% ‐ 3.1% BENELUX 7.0% 2.0% ‐ 5.1% ‐ 5.1% 0.8% ‐ 1.6% ASIA PACIFIC 32.4% 12.7% 34.3% 1.9% 33.4% 7.0% ITALY 14.9% 14.9% 7.9% 7.9% 11.3% 11.3% UK 57.7% 34.0% 18.3% ‐ 3.6% 38.1% 15.2% SWITZERLAND 19.6% 12.7% 14.4% 7.8% 17.0% 10.3% OTHERS 15.7% 17.0% 2.0% 6.9% 8.8% 11.9% TOTAL 7.3% 4.0% ‐ 15.2% ‐ 18.4% ‐ 4.0% ‐ 7.3%

23 September 23rd 2020 l ALTEN - 2020 First Half Results CONDENSED INCOME STATEMENT

€M H1 2019 H1 2020 Change %

Revenue 1,292.3 1,240.4 ‐4.0 %

Operating Profit on Activity 116.6 75.2 ‐35.6 % As % of Revenue 9.0% 6.1%

Share‐based payments ‐3.2 ‐2.5 Non‐recurring profit ‐4.5 ‐4.0 Operating profit 108.9 68.7 ‐37.0 % As % of revenue 8.4% 5.5% Financial Income 0.1 11.5

Income tax expense ‐34.9 ‐21.0 EMCs and minority interests 2.3 1.5 Net income, Group Share 76.4 60.6 ‐20.6 % As % of revenue 5.9% 4.9%

The operating margin on activity is highly impacted by the health crisis.

24 September 23rd 2020 l ALTEN - 2020 First Half Results FINANCIAL INCOME ANALYSIS

H1 2019 H1 2020

Cost of net financial debt ‐0.4 ‐0.3

Interests on leasing contracts (IFRS16) ‐0.8 ‐0.9

Cost of financial debt and lease ‐1.2 ‐1.2

Forex result 1.0 ‐0.2 Other net financial income 0.3 12.9

FINANCIAL INCOME 0.1 11.5

25 September 23rd 2020 l ALTEN - 2020 First Half Results CONDENSED INCOME STATEMENT BY REGION

H1 2019 H1 2019 H1 2019 H1 2020 H1 2020 H1 2020 €M France Intl. Group France Intl. Group

Revenue 571.2 721.1 1,292.3 491.1 749.3 1,240.4

Operating Profit on Activity 56.3 60.3 116.6 21.1 54.0 75.2 As % of revenue 9.9% 8.4% 9.0% 4.3% 7.2% 6.1%

Share-based payments -2.9 -0.3 -3.2 -1.3 -1.2 -2.5

Non-recurring profit & impairment -1.4 -3.1 -4.5 -1.6 -2.4 -4.0

Operating Profit 52.0 56.9 108.9 18.2 50.5 68.7 As % of revenue 9.1% 7.9% 8.4% 3.7% 6.7% 5.5%

Financial income 0.3 -0.2 0.1 10.5 1.0 11.5

Income tax expense -19.5 -15.4 -34.9 -8.2 -12.8 -21.0 EMCs and minority interests 2,8 -0,6 2,3 1,5 0,0 1,5

Net income, Group share 35.6 40.8 76.4 22.0 38.6 60.6 As % of revenue 6.2% 5.7% 5.9% 4.5% 5.1% 4.9%

26 September 23rd 2020 l ALTEN - 2020 First Half Results A VERY HEALTHY BALANCE SHEET ASSETS EQUITY & LIABILITIES December 2019 June 2020 December 2019 June 2020

NON‐CURRENT ASSETS: NON‐CURRENT ASSETS: 843.9 820.4 SHAREHOLDER’S EQUITY: SHAREHOLDER’S EQUITY:

o/w goodwill: 535.6 o/w goodwill: 551.3 1,113.3 1,168.0 Incl. right of use: 174.0 Incl. right of use: 161.3 o/w Group share: 1,113.8 o/w Group Share: 1,168.6

CURRENT ASSETS: CURRENT ASSETS: N‐C LIABILITIES: 181.4 916.2 Incl. lease debts: 134.1 N‐C LIABILITIES: 176.0 1,003.8 Incl. lease debts: 125.0

o/w customer receivables: 860.6 o/w customer receivables: 745.0 CURRENT LIABILITIES: CURRENT LIABILITIES: 630.5 619.5 Incl. lease debts: 42.8 Incl. lease debts: 41.5 o/w customer‐driven liabilities: o/w customer‐driven liabilities: Cash & cash equivalents : 258.3 107.6 94.5 Cash & cash equivalents: 202.6 Current financial liabilities: 124.9 Current financial liabilities: 31.4

2,050.1 1,994.9 2,050.1 1,994.9 Gearing is – 19.2% 27 September 23rd 2020 l ALTEN - 2020 First Half Results CHANGE IN NET CASH POSITION (€M) Free cash flow: +134.9 ‐7.4 ‐3.4 ‐25.1 17.9 0 95.1

‐26.2 Incl. ‐1.9 IFRS16 98.5

Incl. 27.1 224.3 IFRS16

74.9 12,5

Net cash Self‐financing Flows from Net cash Tax paid Change in WCR Capex Financial Dividends Other financing 31/12/2019 capacity lease debts investments flows 30/06/2020 IFRS16 28 FREE CASH FLOW ANALYSIS 6 months 12 months 2019 H1 2020 H1 2019 H1 2020 12 months 12 months

OPERATIONAL CASH FLOW (MBA) 123.1 71.4 272.0 220.4 AS % OF REVENUE 9.5% 5.8% 10.4% 8.4%

DEPRECIATION OF RIGHTS OF USE AND 22.8 27.1 48.3 52.6 FINANCIAL COSTS

CASH FLOW (MBA) IFRS16 145.9 98.5 320.3 273.0

TAX PAID (29.0) (26.2) (77.1) (74.3)

CHANGE IN WCR (27.9) 95.1 (18.8) 102.6

FLOWS FROM LEASE DEBT (22.1) (25.2) (46.3) (47.8)

CASH FROM OPERATIONS 66.9 142.3 178.1 253.5 AS % OF REVENUE 5.2% 11.3% 6.8% 9.7%

CAPEX (8.0) (7.4) (17.9) (17.2)

FREE CASH FLOW 58.9 134.9 160.3 236.3 AS % OF REVENUE 4.6% 10.9% 6.1% 9.0%

29 September 23rd 2020 l ALTEN - 2020 First Half Results FREE CASH FLOW ANALYSIS

Free cash flow increases by more than 130% as compared to June 2019 due to a substantial decrease in activity in Q2.

. Operational cash flow decreases by nearly 40%, in line with a declining OPA in H1.

. WCR is sharply decreasing and has generated strong cash returns despite an increased DSO (+2 days) between December 2019 (92 days) and June 2020 (94 days) due to delayed payments linked to the health crisis.

. CAPEX remains low (0.6% of revenue)

30 September 23rd 2020 l ALTEN - 2020 First Half Results IFRS16 FINANCIAL IMPACTS

BALANCE I NCOME F INANCING STATEMENT STATEMENT SHEET (€M) (€M) (€M) ASSETS .OPA 0.6 Cash flow 27.1 161.3 .Rights of use Depreciation of rights of use & .Deffered tax ‐0.1 .Financial income ‐0.9 financial costs 161.2 WCR ‐1.9 .Tax 0.1 Suppression of flows from lease ‐25.2 LIABILITIES .Net income ‐0.2 debts

.Consolidated reserves 0.2 Free cash flow 0 .Net income ‐0.2 .Lease debt 166.5 Very low impact on P&L No impact on TFT & .Rent free ‐5.3 Group cash flow 161.2

IFRS16 lease debts are not included in the net cash flows of ALTEN Group. They account for €166.5 M at end of June 2020 (o/w 88% estate, 10% vehicles, 2% other).

31 September 23rd 2020 l ALTEN - 2020 First Half Results SYNTHÈSE

The organic growth we have experienced for many years was stopped by the health crisis that sharply impacted the sectors of Aerospace and Automotive.

The operating margin on activity was also strongly affected by a high increase of intercontract in Q2 as well as exceptional expenses associated with Covid‐19.

To limit such impacts, ALTEN has implemented several measures that will still be in place in H2 :  SG&A cost cuts,  Partial unemployment in Europe,  Reduction in workforce in some countries.

Free cash flow grows sharply, resulting from a decrease in activity in Q2, despite a decrease in operational profit and a slight increase of DSO 

Gearing is ‐19,2% 32 GROWTH STRATEGY

September 23rd 2020 l ALTEN - 2020 First Half Results STRATÉGIE ET DÉVELOPPEMENT

. The health crisis has mainly impacted the following sectors:  Aeronautics (France and Germany)  Automotive (since H2 2019 in Europe and in the US). Both sectors should however experience significant technological transformations in the next few years with subsequent high investments in R&D.

. ALTEN is currently implementing an action plan for the next three years aiming to boost international development and diversity in business sectors, more specifically Energy, Life Sciences, IT services, etc.

. Regarding external growth, ALTEN actively plans to complete acquisitions of a larger size ‐ on an international level and in France, in order to accelerate its development. 34 CONCLUSION

 ALTEN therefore confirms more than ever its strategy ‐ centered on the Engineer, with a plan to diversify its business sectors positionning and geographical footprint.

 Thanks to our culture based on a rigorous management and a very healthy balance sheet structure, we were able to face the Covid‐19 crisis and are now given the resources to boost catch‐up.

 ALTEN is confident with the goal to reach its early 2019 business position again at the end of 2021, as well as resume sharp growth with an OPA next to 10% and an international activity above 65%.

35 APPENDICES

September 23rd 2020 l ALTEN - 2020 First Half Results BALANCE SHEET – ASSETS (IN THOUSANDS OF EUROS)

ITEM June 2020 Dec. 2019

Goodwills 551 343 535 606 Right of use 161 303 174 012 Intangible assets 8 494 8 548 Tangible assets 31 220 31 471 Investments in associates 1 065 25 024 Non‐current financial assets 57 567 58 852 Deferred tax assets 9 453 10 382

NON CURRENT ASSETS 820 445 843 895

Trade receivables 575 864 693 564 Assets associated with client agreements 169 161 167 059 Other current assets 89 155 68 443 Current tax assets 81 951 74 626 Cash and cash equivalents 258 346 202 550

CURRENT ASSETS 1 174 477 1 206 243

TOTAL ASSETS 1 994 922 2 050 138 37 September 23rd 2020 l ALTEN - 2020 First Half Results BALANCE SHEET – LIABILITIES (IN THOUSANDS OF EUROS)

ITEM June 2020 Dec.2019

Capital 35 888 35 864 Premiums 60 250 60 250 Consolidated reserves 1 011 813 853 413 Consolidated earnings 60 646 164 225

SHAREHOLDERS' EQUITY 1 168 597 1 113 752

MINORITY INTERESTS ‐571 ‐425

Employee benefits 14 538 13 743 Provisions 7 771 11 745 Non-current financial liability 3 108 3 111 Non-current Lease debt 125 015 134 128 Other non-current liabilities 24 909 18 171 Deferred tax liabilities 623 476

NON CURRENT LIABILITIES 175 963 181 374

Provisions 7 238 8 807 Current financial liabilities 31 382 124 864 Current lease debt 41 471 42 806 Trade payables 97 633 90 119 Other current liabilities 362 793 367 293 Assets associated with client agreements 94 524 107 561 Current tax liabilities 15 893 13 987

CURRENT LIABILITIES 650 933 755 437

TOTAL LIABILITIES 1 994 922 2 050 138 38 September 23rd 2020 l ALTEN - 2020 First Half Results INCOME STATEMENT (IN THOUSANDS OF EUROS)

ITEM H1 2020 H1 2019 NET REVENUE 1 240 380 1 292 252

Purchase consumed ‐121 136 ‐109 557 Payroll expenses ‐920 932 ‐934 428 External charges ‐82 384 ‐98 406 Taxes other than on income ‐6 663 ‐6 538 Depreciation and amortization ‐33 055 ‐29 382 Other operating income and expenses ‐1 047 2 708

OPERATING PROFIT ON ACTIVITY 75 162 116 648

Share based payments ‐2 518 ‐3 198

OPERATING PROFIT ON ACTIVITY BEFORE EXCEPTIONALS 72 644 113 451

Non recurrent profit ‐3 977 ‐4 513 OPERATING PROFIT 68 667 108 938

Net borrowing costs ‐1 198 ‐1 238 Other financial income and expenses 12 669 1 328

FINANCIAL INCOME 11 471 90

Share of earning of equity affiliates 1 366 2 778 Income tax expense ‐20 961 ‐34 880 NET OVERALL EARNINGS 60 543 76 925

PROFIT ATTRIBUTABLE TO MINORITY INTERESTS 103 ‐517

PROFIT ATTRIBUTABLE TO THE GROUP 60 646 76 409 39 September 23rd 2020 l ALTEN - 2020 First Half Results CASH FLOW STATEMENT (IN THOUSANDS OF EUROS)

ITEM H1 2020 H1 2019 CASH FLOW 98 509 145 868 Consolidated net earnings 60 543 76 925 Earnings from associates ‐1 366 ‐2 778 Depreciation, provisions and other calculated expenses 27 862 31 908 Share-based payments 2 518 3 198 Income tax expense 20 961 34 880 Capital gains or losses from disposal ‐14 164 166 Net borrowings costs 1 198 1 238 Financial cost on update and provisions 957 331

Tax paid ‐26 178 ‐28 982 Change in working capital requirements 95 108 ‐27 903

NET CASH FLOW GENERATED BY ACTIVITY 167 438 88 982 Acquisition / Disposal on fixed assets ‐7 270 ‐12 532 Impact of change in scope of consolidation and earn-outs paid 18 028 ‐51 442

NET CASH FLOW ON INVESTMENTS 10 758 ‐63 974 Net financial interest paid ‐1 393 ‐1 413 Dividends paid to shareholders 0 ‐33 444 Capital increase 00 Buy back of shares ‐778 1 044 Repayment of long-term financial debt ‐472 ‐5 150 Change in current financial liabilities ‐92 943 33 904 Change in lease debts ‐24 234 ‐21 280

NET CASH FLOW FROM FINANCING OPERATIONS ‐119 821 ‐26 340

CHANGE IN CASH RELATED TO FOREIGN EXHANGE POSITION ‐2 580 257 CHANGE IN CASH POSITION 55 795 ‐1 074 Cash on hand 258 346 119 297 Bank loans ‐8 555 ‐26 578 Overdrafts ‐25 492 ‐110 383 NET CASH POSITION 224 298 ‐17 664 40 September 23rd 2020 l ALTEN - 2020 First Half Results ALTEN

2020 First Half Results

Contact

[email protected] https://www.alten.com/fr/investisseurs/ T : +33 (0)1.46.08.71.79

40 av. André Morizet 92513 Boulogne‐Billancourt Cedex