Q1 2019 revenue▶ Bezons▶ April 25, 2019

Disclaimer▶This document contains forward-looking statements that involve risks and uncertainties, including references, concerning theGroup's expected growth and profitability in the future which may significantly impact the expected performance indicated in
the forward-looking statements. These risks and uncertainties are linked to factors out of the control of the Company and notprecisely estimated, such as market conditions or competitors behaviors. Any forward-looking statements made in thisdocument are statements about Atos’ beliefs and expectations and should be evaluated as such. Forward-looking statements
include statements that may relate to Atos’ plans, objectives, strategies, goals, future events, future revenues or synergies, orperformance, and other information that is not historical information. Actual events or results may differ from those describedin this document due to a number of risks and uncertainties that are described within the 2018 Registration Document filedwith the Autorité des Marchés Financiers (AMF) on February 22, 2019 under the registration number D.19-0072. Atos does notundertake, and specifically disclaims, any obligation or responsibility to update or amend any of the information above except
as otherwise required by law. This document does not contain or constitute an offer of Atos’ shares for sale or an invitation orinducement to invest in Atos’ shares in France, the United States of America or any other jurisdiction.
▶All figures presented in this presentation exclude Worldline unless stated otherwise.
▶Revenue organic growth is presented at constant scope and exchange rates.
▶Business Units include North America (USA, Canada, and Mexico), Germany, France, United Kingdom & Ireland,
Benelux & The Nordics (Belgium, Denmark, Estonia, Finland, Lithuania, Luxembourg, The Netherlands, Poland, Russia, andSweden), and Other Business Units including Central & Eastern Europe (Austria, Bulgaria, Croatia, Czech Republic, Greece,Hungary, Israel, Italy, Romania, Serbia, Slovakia and Switzerland), Iberia (Spain and Portugal), Asia-Pacific (Australia, China,Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Philippines, Singapore, Taiwan, and Thailand), South America(Argentina, Brazil, Colombia, and Uruguay), Middle East & Africa (Algeria, Benin, Burkina Faso, Egypt, Gabon, Ivory Coast,
Kingdom of Saudi Arabia, Lebanon, Madagascar, Mali, Mauritius, Morocco, Qatar, Senegal, South Africa, Tunisia, Turkey andUAE), Major Events, Global Cloud hub, and Global Delivery Centers.
2

Agenda1.Q1 2019 highlights and commercial activity
2.Operational & financial performance and Syntel update

3.Conclusion and Q&A3

Q1 2019 highlights
Thierry Breton
Chairman & CEO

Q1 2019 highlights
Organic revenue growth at +0.4% (excluding Worldline) with North
America and Infrastructure & Data Management improving

Syntel integration moving fast with synergies starting to develop
Big Data & Cybersecurity pursuing double digit growth
Successful partnership withmaterialized by new signatures anda strong pipeline in both secured Hybrid Cloud and Artificial Intelligence
Project to deconsolidate Worldline creating two listed pure player
leaders in their respective markets with a long term Strategic AllianceThree year plan ADVANCE 2021 presented to investors and industry
analysts communities5

Q1 2019 key figures
A good start to the yearRevenue

Organic growth€2,818m+0.4%+0.3% in Q4 2018*-0.8% in Q3 2018*

Total number of employees

Headcount evolution

110,075-0.4%
Since end of December 2018 atconstant scope* excluding Worldline

6Q1 2019 commercial activity
Order entry

Book to bill ratio€2,428m

86%

Backlog

Weighted pipeline€20.8bn€6.9bn

1.8 year of revenue

7.2 months of revenue
7

Main wins in Q1 2019 confirming Digital acceleration

Automated Digital
cloud platform based on
Bullion Sequana andGoogle

An integrated USenergy company

S/4 HANA
implementationin the USDigital
Workplace

Large German
Automotive
manufacturer

UK postal servicecompany
AI enabled HighPerformance
Computer
Fully managedHybrid Digital
Cloud Service

8Advanced
Endpoint Security

Atos recognized as the 2018 Google Cloud Breakthrough Partner
Status after 1 year of partnership

New Atos Open Hybrid Cloud
Solution Enabling Enterprises toMove to Google Cloud
Atos recognized as global leader
in Google Cloud Certification
ProgramAtos distinguished as “SpecializedIoT Partner” by Google Cloud
3 joint Customer AI labs already open (London, Dallas,Paris) and a 4th Lab to open soon (Frankfurt)
9

€1bn+

Commercial fullpipeline

20+

Joint customer
projects

1,000+

Technicalcertifications
planned in 2019

2019 objectives confirmed(excluding Worldline as of January 1st, 2019)

Revenueorganic growth
Operatingmargin+1% to +2%
c. 10.5% of revenue

Free cash flow

€0.6 to €0.7bn10

Operational & financial
performance and Syntel
updateElie Girard
Deputy CEO & Group CFO

Constant scope and exchange rates figures reconciliation
In € million
Statutory revenue
Exchange rates effectRevenue at constant exchange rates
Scope effectExchange rates effect on acquired/disposed perimeters
Revenue at constant scope and exchange rates

Q1 2019
2,818

Q1 2018
2,945
38% change
-4.3%

2,818

2,983

-5.5%2,818-187
122,808+0.4%▶ Exchange rates effect mainly came from the American dollar and positively contributed
to revenue for €+49 million.

▶ Scope effect mostly related to the restatement of Worldline contribution to the Grouprevenue in Q1 2018 (€ -384 million), and € +17 million of revenue performed by Atosentities with Worldline in Q1 2018 which is no more neutralized in the Group consolidation
but recognized as Group revenue. The remaining amount of € +180 million was mostlyrelated to Syntel acquisition (3 months for € +200 million), the disposal of some specificUnified Communication & Collaboration activities, and the disposal and decommissioningof non-strategic activities within CVC.
12

Q1 2019 performance by Division▶ Infrastructure & Data Management recovery started▶ Business & Platform Solutions supported by an increasing number of projects
in Digital and Automation▶ Continuous double digit growth in Big Data & Cybersecurity

In € million

Infrastructure & Data Management
Business & Platform Solutions
Big Data & Cybersecurity
Total GroupQ1 2019

Q1 2018*

1,537
1,065
215
2,818

1,585
1,029
193
2,808

* At constant scope and exchange rates

13Organicevolution-3.0%+3.5%+11.4%+0.4%

Infrastructure & Data Management▶ Continued

developmentofHybrid

Cloud

Orchestration,

DigitalWorkplace

implementation and Transformation projects in all geographies▶ First signs of recovery in North America▶ High level of new contracts
North America

In € million

Revenue
Organic growthOrder Entry
Book to bill
Direct headcount
Variation in Q1 y/y at constant scope

Q1 2019
1,537
-3.0%
1,076
70%
44,598
-4%

15%

26%

8%

Germany
United Kingdom & Ireland

9%

Benelux & The Nordics
21%

21%

FranceOther Business Units

14Business & Platform Solutions▶ Continued solid dynamic of Syntel, with first commercial synergies recorded▶ In Europe, strong growth in Digital Transformation projects led by Germany, theUnited Kingdom & Ireland and Central & Eastern Europe▶ Staff decrease linked to robotization
In € million

Revenue
Organic growthOrder Entry
Book to Bill
Direct headcount
Variation in Q1 y/y at constant scope

Q1 2019
1,065
+3.5%
1,112
104%
51,869
-0%

1523%

23%

North America
FranceGermany

9%
21%

9%

Benelux & The Nordics
United Kingdom & Ireland

15%

Other Business Units

Big Data & Cybersecurity▶ Strong quarter in France and in Benelux & The Nordics in Big Data
▶ Continued high demand in Cybersecurity services▶ Strong level of hiring of critical competencies
In € million

Revenue
Organic growthOrder Entry
Book to Bill
Direct headcount
Variation in Q1 y/y at constant scope

Q1 2019215+11.4%
241
112%
5,243
+7%

16

Q1 2019 performance by Business Unit
▶ North America recovery started▶ Continued solid growth in France

18%

23%

▶ High growth recorded in Other Business Units
9%In € million

North America
GermanyFrance
United Kingdom & Ireland
Benelux & The Nordics
Other Business Units
Total GroupQ1 2019

Q1 2018*662511438423
264
520
2,818

698
503
422
430
262
491
2,808

Organicevolution
-5.2%
+1.6%
+3.7%
-1.8%
+0.5%
+6.0%
+0.4%

18%

15%
16%

North America
Germany
FranceUnited Kingdom & Ireland* At constant scope and exchange rates

Benelux & The Nordics
Other Business Units

17

Q1 2019 headcount evolution-102+5,011-5,377-11,567

122,110

121,642
110,075

Headcount a s of
31/12/18(Atos includi ng
Worldli ne )Scope

HiringLeave rs,
restructuring& dismi ssals

18

Headcount a s of
31/03/19(At os includi ng
Worldli ne )Worldli ne as of
31/03/2019

Headcount a s of31/03/19(Atos excluding
Worldli ne )Distribution in kind of Worldline shares to Atos shareholders
Timetable of distribution▪
▪
▪

Features of the distribution in kind

AGM: April 30, 2019
Ex date: May 3, 2019
Payment date of the distribution in kind: May7, 2019▪

Very favorable tax treatment of thedistribution in kind▪

The distribution in kind would represent c.23.5%of the share capital of Worldline (2 Worldline
shares for 5 Atos shares)
Post-distribution, Atos would own approximately
c.27.3% of the share capital of Worldline▪

Amendment to the Shareholders
Agreement with SIX Groupc. 60% corresponding to a repayment ofshare capital and therefore not subject toFrench withholding tax and not taxable forFrench residents

▪

▪
19

Worldline Board of Directors of 12 directors:
o 3 designated by Atos, including the Chairmano 2 designated by SIX Groupo the Chief Executive Officer of Worldlineo 6 independent directors
Six-month joint lock-up period

Distribution in kind of Worldline shares
Main impacts on Atos Digital Services figures

Main impacts New Atos vs Atos Digital Services

AtosRevenue

New flow with Worldline as a customer(c. € 70 M in 2018)

OperatingMargin

No impact in € million
Negative impact on rate (not significant)

Net income fromdiscontinued
operations*

WL net income from January 1, 2019 toApril 30, 2019 + Capital gain

Share of net
profit ofassociates

Share of WL net income from May 1,
2019 to December 31, 2019 + PPA
amortization

as of January
1st, 2019
Atos DigitalServices

New Atos

Free Cash Flow

Worldline

Net debt* No asset amortization during this period

20No impact€ 2.8 bn as of December 31, 2018

IFRS 16 - Main impacts on the Group Financial Statements

Operating Expenses

Lease expenseAmortization

IFRS 16

IAS 17

Income Statement

Balance SheetAssets[Prior to IFRS16]

Amortization

Liabilities[Prior to IFRS16]

Right of Use
Depreciation
Net Financial Expenses

Net Financial Expenses

EquityOperating Expenses

Operating Margin(not significant)Lease Liability Interests

TaxTaxNet

Net

Net Income(not significant)Right of Use

Lease liability

Lease Liability = €1.2 bn as atJanuary 1, 201921

IFRS 16
impactSyntel revenue synergies on track

Syntel base secured and first new deals won

Revenue synergies alreadymaterialized

100% client retention
Top 10 Syntel clients grew in linewith overall Syntel in Q1 19
High demand in Cloud
migration and Legacy
modernization powered by“Land & Expand”

Application & Services
Transformation using
Intelligent Automation

Intelligent Automation

150 synergy project
opportunities in full pipeline
valued at $650 M

Strengthened Go-To-Market
for Global IDM deals

IDM to implement
ServiceNOW platform

Successful Cross Sell of Syntel services into 6 Atos
IDM customers in NAO and UK&I

22

Syntel delivery and cost synergies on track
Account transformation well under way

Transformation synergies▶ Wave 1 was successfully completed in Q1, aligning €640Mof business under Syntel management and delivery
framework▶ Wave 2 has started in April, aligning an additional €300Mof business▶ Solutioning of new business through Syntel delivery

Employee andfacility consolidation▶ 100% retention of key personnel▶ Successful move of 6,000 Atos staff

to the Pune campus▶ Consolidated offices in the UK and in

the US

framework

PUNEc. €940M of business being alreadyaligned under Atos Syntel
management23

Conclusion

Thierry Breton
Chairman & CEO2019 main priorities
Return to growth in H2 forNorth America (excl. Syntel) andfor Infrastructure & DataManagementSuccessfully integrate Syntel andgenerate synergy plans toimprove Business & Platform
Solutions profitability

Rolling out GOAL and RACE
programs to increase operational
profitability

Positioning Big Data &Cybersecurity as a leading player
for the upcoming consolidation ofthis segment

Delivering financial objectives in 2019 and confirming 2021 ADVANCE
targets
25

ThanksAtos, the Atos logo, Atos Syntel, Unify, and Worldline are registered trademarks of theAtos group. December 2018. © 2018 Atos. Confidential information owned by Atos, to beused by the recipient only. This document, or any part of it, may not be reproduced,copied, circulated and/or distributed nor quoted without prior written approval from Atos.