Q1 2017 revenue

BezonsApril 24, 2017

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 2016 Registration Document filedwith the Autorité des Marchés Financiers (AMF) on March 30, 2017 under the registration number: D.17-0274. 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.
▶Revenue organic growth is presented at constant scope and exchange rates.
▶Business Units include North America (NAM: USA, Canada, and Mexico), Germany, United-Kingdom & Ireland, France,
Benelux & The Nordics (BTN: Belgium, Denmark, Estonia, Finland, Lithuania, Luxembourg, The Netherlands, Poland, Russia,and Sweden), Worldline, and Other Business Units including Central & Eastern Europe (CEE: Austria, Bulgaria, Croatia,Czech Republic, Greece, Hungary, Italy, Romania, Serbia, Slovakia, and Switzerland), Iberia (Spain and Portugal), Asia-Pacific(APAC: Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Philippines, Singapore, Taiwan, andThailand), South America (SAM: Argentina, Brazil, Colombia, and Uruguay), Middle East & Africa (MEA: Algeria, Benin, Burkina
Faso, Egypt, Gabon, Ivory Coast, Kingdom of Saudi Arabia, Lebanon, Madagascar, Mali, Mauritius, Morocco, Qatar, Senegal,
South Africa, Tunisia, Turkey and UAE), Major Events, Global Cloud Hub, and Global Delivery Centers.
2 | Atos – Q1 2017 revenue

Agenda1.Q1 2017 highlights
2.Commercial activity

3.Operational & financial performance
4.Conclusion and Q&A
3 | Atos – Q1 2017 revenue

Q1 2017 highlights
Thierry Breton
Chairman & CEO

Q1 2017 highlights
Main wins in Q1

French aircraft
engineering company
Nordictelco
leaderFrenchemployment
agencyFurther recognition by industrial analysts
Leader in European Managed workplace
Services
The leader in SAP Application Services, EMEA
Cybersecurity: positioned in Worldwide MQ
for Identity Governance & Administration
Leader for Internet of Things
Bullion, high-end x86 server, most powerfulin the world in terms of speed and memory
5 | Atos – Q1 2017 revenue

Partnerships

Agreement with 3 of thelargest global manufacturers
to distribute bullions
Fast and seamless integrations

Status on Unify Software & Platforms
Context

Main deal features• Price reflecting a 2017 €100m OMDABUT ALSO
Unify S&P in top 3• Long-term commitment
customers and inon commercial contracts
top 5 suppliers• Attractive commercial conditions• Financial solidity of potential buyer…while…

• Restructuring fully
executed• 2017 OMDA at €100m
confirmed• Willingness from Atos toavoid lengthy discussions

Outcome
Decision from the Board of Directors toterminate M&A discussions
Higher value for Atos shareholders by integrating now Unify S&P in Atos operations
6 | Atos – Q1 2017 revenue

Q1 2017 key figures
Revenue

Organic growth€3,111m+2.0%

Order entry

Book to bill

+12% at constantexchange rates€3,035m
7 | Atos – Q1 2017 revenue

98%

vs. 91% average last three Q1Figures including Unify S&P

Follow-up on Atos position in the new global environnement
New administration
decisions• H1B visas: Executive order signed onApril 18:- more controlled H1-B visas- request for recommendations to movefrom a lottery system to a merit or salary
based granting• Healthcare: Project withdrawn• Infrastructure investment: National
Economic Council will present a $1 trillion
infrastructure plan to the Congress this year Confirmation of Atos competitivenessincrease and new commercial
opportunities

Brexit• Article 50 triggered on March 29• Two years allotted for the negotiations withUK remaining bound by the obligations of EUmembership Confirmation of no impact oncommercial activity neither in Q1 2017
nor anticipatedFrench election• Effect of French election outcome onactivities Atos should benefit from new context inFrance and in Europe

A better global economic environment with worldwide 2017 GDP growth at +3.5% (IMF)
8 | Atos – Q1 2017 revenue

2017 objectives update
Taking into account the integration of Unify Software & Platforms fromJanuary 1st, Atos updated its 2017 objectives:▶ Revenue growth:

Circa +9.5% at constant exchange rates (vs. circa+6% previously), above +2% organically(unchanged).

▶ Operating margin: Raised to circa 10.0% of revenue (vs. between
9.5% and 10.0% previously).
▶ Free cash flow:

Operating margin conversion rate to free cash
flow at between 55% and 58% (unchanged).

As a consequence, 2019 Ambition operating margin target is also raised
to circa 11.0% of revenue (vs. between 10.5% and 11.0% previously).
9 | Atos – Q1 2017 revenue

CommercialactivityPatrick Adiba

Chief Commercial Officer

Q1 2017 commercial activity dashboard
Order entry

Book to bill ratio€3,035m

98%+9% year-on-year

vs. 91% average last three Q1Backlog

Qualified pipeline€21.7bn€6.9bn1.7 years of revenue

6.6 months of revenue

11 | Atos – Q1 2017 revenue

Main wins in Q1 2017 leveraging the Atos Digital
Transformation Factory
Cloud

Dutch
Telco

French aircraft
engineering company

SAP HANA
Workplace
Codex
Cybersecurity
Digital payments

Security
Smartgrid

12 | Atos – Q1 2017 revenue

UK university

Unify Software & Platforms integration in Atosportfolio of offerings
Unify S&P: a key building block of
the digital transformation ofcustomers▶ Enable customer driven
convergence of IT and Coms
▶ Enable a new way to workthrough pro-active digital
customer engagement andfollow-up▶ End-to-end security and reliability
on-premises and in the Cloud
13 | Atos – Q1 2017 revenue

Integration of Unify S&P
solutions into Infrastructure &Data Management, reinforcing
the Digital Workplace end-toend offerings of the Atos Digital
Transformation Factory

Unify – Immediate sales actions
Growth Levers

Actions“Whitespace”• Selling to Atos large accounts

Circuit• Leverage the successful Siemens migration to Circuit

France market entry• Low presence of Unify in an Atos strong geography

Next Gen 9-1-1
opportunity in the US• A new offering based on R&D investments

Atos/Unify channels
synergies• Benefit from both value added resellers networks

14 | Atos – Q1 2017 revenue

Operational & financial
performance
Elie Girard
Group CFO

Constant scope and exchange rates figures
reconciliation
In € million

Statutory revenue
Internal revenue to Unify S&P (February & March)*
Exchange rates effectRevenue at constant exchange rates

Q1 2017
3,111

Q1 20162,757
3722

change+12.8%

3,111

2,771+12.3%

Scope effectExchange rates effect on acquired/disposed perimeters
Revenue at constant scope and exchange rates

2773
3,111

3,051+2.0%* In Q1 2016, this internal revenue was not reported, it was reported in H1 2016 for 5 months▶ Exchange rates mainly coming from the British pound depreciating versus the Euro, partly compensated by
the American dollar and the Brazilian real increasing versus the Euro.
▶ Scope effect related to the positive contribution of Unify Services and Unify S&P, Anthelio, Equens,Paysquare, Komerçni Banka Smartpay, Engage ESM, and zData.

16 | Atos – Q1 2017 revenue

Q1 2017 performance by Division▶ Continuing growth trend for each Division▶ Acceleration in Business & Platform Solutions▶ All Divisions on track for their 3 year-plan

12%
5%

25%
In € million

Infrastructure & Data Management
Business & Platform Solutions
Big Data & Cybersecurity
Worldline
Total Group* At constant scope and exchange rates

Q1 2017

Q1 2016*

1,797
787
162
365
3,111

1,782
768
143
358
3,051

Organicevolution
+0.8%
+2.5%
+13.4%+1.9%+2.0%Infrastructure & Data Management
Business & Platform Solutions
Big Data & Cybersecurity

Worldline
17 | Atos – Q1 2017 revenue

58%

Infrastructure & Data Management▶ Continuing strong growth in Cloud services through the roll-out of hybrid cloud▶ Leadership in Digital Workplace services further reinforced

North America
14%

In € million

Revenue
Organic growthOrder entry
Book to Bill
Direct headcounts

18 | Atos – Q1 2017 revenue

Q1 2017
1,797
+0.8%
1,793
100%
48,2889%31%

United-Kingdom & Ireland

6%

19%

Germany

France21%

Benelux & The Nordics
Other Business Units

Business & Platform Solutions▶ Improved workforce management materializing in the utilization rateincrease▶ Codex platform penetrating the energy sector
North America2%In € million

Revenue
Organic growthOrder entry
Book to Bill
Direct headcounts

19 | Atos – Q1 2017 revenue

Q1 2017
787
+2.5%
775
98%
32,381

28%

18%

Germany
United-Kingdom & Ireland

10%

France14%

Benelux & The Nordics
28%

Other Business Units

Big Data & Cybersecurity▶ Growth led by Identity & Access management notably in North America andGermany and by continued dynamic HPC activities▶ Bullion sales more than doubled since Bull acquisition and are expected to morethan double again in the mid-term thanks to partnership agreements signed in Q1
North America

7%17%In € million

Revenue
Organic growthOrder entry
Book to Bill
Direct headcounts

20 | Atos – Q1 2017 revenue

Q1 2017
162+13.4%
199
122%
3,963

12%

6%

Germany
United-Kingdom & Ireland

13%

FranceBenelux & The Nordics
46%

Other Business UnitsWorldline▶ Financial Services strong growth led by ATM business andFraud prevention Services in Issuing processing▶ Strong momentum of India following the Demonetization Actin Merchant Services & TerminalIn € million

Financial Services
Merchant Services & Terminals
Mobility & e-Transactional Services
Total Group* At constant scope and exchange rates

Q1 201716812275365

Q1 2016*Organicevolution

22%

26%

14%

15%

158
120
80

6.4%
1.8%
-6.6%

France358

1.9%Belgium

23%

Germany/CEE
Emerging markets
Rest of Europe

21 | Atos – Q1 2017 revenue

Q1 2017 performance by Business Unit
▶ Growth materializing in all geographies▶ Continued dynamics in Orchestrated Hybrid Cloud and inDigital Workplace in the US▶ United-Kingdom growth supported by Public sector▶ Benelux & The Nordics recovery plan already showing
positive signal

12%

19%

16%
17%

In € million

North America
Germany
United-Kingdom & Ireland
FranceBenelux & The Nordics
Other Business UnitsWorldline
Total Group* At constant scope and exchange rates

22 | Atos – Q1 2017 revenue

Q1 2017

Q1 2016*

589
537
437
411
273
501
365
3,111

572
533
426
410
270
482
358
3,051

Organic
evolution
+3.0%
+0.7%
+2.6%
+0.1%
+1.1%
+3.8%
+1.9%
+2.0%

9%
13%

14%

North America
Germany
United-Kingdom & Ireland
FranceBenelux & The Nordics
Other Business Units

Q1 2017 headcount evolution

3,913

3,959

109

100,160

100,096

Headcount a s of
31/12/16

23 | Atos – Q1 2017 revenue

Scope

HiringLeave rs,restructuring& dismi ssals

Headcount a s of
31/03/17

Unify Software & Platforms scope effect

External
Revenue
2016
2016
pro forma

Atostowards
Unify S&P:

UnifyS&P:

€231m

√

€677m
Discontinued
operations

Internal revenue
neutralized inconsolidation

Revenue scope effect on2016 pro forma: €446m√

Other scope effects on 2016 pro forma:••

Operating margin:
Net cash (Dec 31, 2016):

24 | Atos – Q1 2017 revenue€6m€-97mAll figures at YTD December 2016 FX√

in Atos
consolidated
scopeUnify Software & Platforms integration
2016: Turn-around2017: Integration

Sales channels shift

2,656 partners in indirect sales channels

Streamlining of loss-making
contractsc. €100m 2017 OMDA
target confirmed

New offerings push496k Circuit users

Restructuring plan completed-1,098 headcounts for Unify

Optimized cost base

IT costs - Real estate – Procurement - Other non
personal costs
25 | Atos – Q1 2017 revenue

Cross-selling on Atos
customer basesupporting a revenue
organic growth by yearendValue creation of Unify acquisition
2017e Unify Services
margin c. €95m

TURN
AROUND

Price paidin cash
€350m

Supported by€370m
restructuring
launched
beforeacquisition
and fundedby the sellers

Atos multiplex9+ €850m

Tax benefits+ €200m

Net debt at acquisition- €75mDefined benefit plans
deficit at acquisition- €200m

c. €775m
Unify S&P with 2017e OMDA at c. €100m*

26 | Atos – Q1 2017 revenue* comparable peers trading at c. 10x multiple on EBITDA

Conclusion
and Q&AThierry Breton
Chairman & CEOConclusion

Strong start of the year inline with 2017 objectives

Integration of Unify
Software & Platforms
reinforcing ourDigital Transformation Factory

Operating margin 2017
objective raised

Confident into thesustainable current trend
in an improving macroenvironment

28 | Atos – Q1 2017 revenue

ThanksAtos, the Atos logo, Atos Codex, Atos Consulting, Atos Worldgrid, Worldline, BlueKiwi, Bull, Canopy theOpen Cloud Company, Unify, Yunano, Zero Email, Zero Email Certified and The Zero Email Company are
registered trademarks of the Atos group. April 2016. © 2016 Atos. Confidential information owned byAtos, to be used 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.