FY 2021 Results

BezonsMarch 1, 2022

Disclaimer
This document contains forward-looking statements that involve risks and uncertainties, including references,concerning the Group'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 thecontrol of the Company and not precisely estimated, such as market conditions or competitor's behaviors. Any
forward-looking statements made in this document are statements about Atos’ beliefs and expectations and should beevaluated as such. Forward-looking statements include statements that may relate to Atos’ plans, objectives,strategies, goals, future events, future revenues or synergies, or performance, and other information that is nothistorical information. Actual events or results may differ from those described in this document due to a number ofrisks and uncertainties that are described within the 2020 Universal Registration Document filed with the Autorité desMarchés Financiers (AMF) on April 7, 2021 under the registration number D.21-0269 and the Amendment to the 2020
Universal Registration Documents filed with the AMF on July 30, 2021 under number D.21-0269-A01. 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 oran invitation or inducement to invest in Atos’ shares in France, the United States of America or any other jurisdiction.
Atos consolidated and statutory financial statements for the year ended December 31, 2021, were approved by theBoard of Directors on February 28, 2022. Audit procedures have been completed and the audit reports are in theprocess of being issued.
Revenue organic growth is presented at constant scope and exchange rates.
Industries include Manufacturing (Aerospace, Automotive, Chemicals, Consumer Packaged Goods (Food & Beverage),
Discrete Manufacturing, Process Industries, Services and Siemens), Financial Services & Insurance (Insurance, Banking& Financial Services, and Business Transformation Services), Public Sector & Defense (Defense, Education,
Extraterritorial Organizations, Public Administration, Public Community Services and Major Events), Telecom, Media &Technology (High Tech & Engineering, Media, and Telecom), Resources & Services (Energy, Retail, Transportation &Hospitality, and Utilities) and Healthcare & Life Sciences (Healthcare and Pharmaceutical).
Regional Business Units include North America (USA, Canada, Guatemala and Mexico), Northern Europe (UnitedKingdom & Ireland, Belgium, Denmark, Estonia, Belarus, Finland, Lithuania, Luxembourg, The Netherlands, Poland,Russia and Sweden), Central Europe (Germany, Austria, Bulgaria, Bosnia, Croatia, Czech Republic, Greece, Hungary,Romania, Serbia, Slovenia, Slovakia, Israel, and Switzerland), Southern Europe (France, Andorra, Spain, Portugal andItaly) and Growing Markets including Asia-Pacific (Australia, China, Hong Kong, India, Japan, Malaysia, New Zealand,Philippines, Singapore, Taiwan, and Thailand), South America (Argentina, Brazil, Chile, Colombia, Uruguay, and Peru),
Middle East & Africa (Algeria, Benin, Burkina Faso, Egypt, Gabon, Ivory Coast, Kenya, Kingdom of Saudi Arabia,Madagascar, Mali, Mauritius, Morocco, Qatar, Senegal, South Africa, Tunisia, Turkey and UAE), Major Events and Global
Delivery Centers.

2Agenda

1.

Introduction

2.

2021 Highlights

3.

2021 Financial Performance

4.

2022 Main Priorities & Objectives

5.

Q&A1.

Introduction
Rodolphe Belmer, CEO2021: a year of many challenges
2022: a pivotal year paving the way for recovery

2021

Classic IT services driving
revenue and Operating
Margin decline
Unforeseen contract
variance and adverse
impacts at year-end-2.5% Revenue at cst. curr.
3.5% Operating Margin€-419m FCF
Assets and contracts
review following change
in strategy€2.4 bn Impairments

5Group transformation
firmly engaged

2022

Adapted and simplified
governance structured
around 3 distinct
business lines and4 regions to accelerate
return to growth
Turnaround plan and2023-2025 objectives
to be presented in May2.

2021 Highlights
Rodolphe Belmer, CEO2021

Key Financial Figures
Revenue

Operating Margin

OMDA

Headcount€ 10.8bn€ 383m€ 1,095m

109,135-2.5% yoy, cst. curr.
-4.3% yoy, organic

3.5% of revenue

10.1% of revenue+2.9% organic

Net income

Normalized
Net Income

Free Cash FlowNet Debt€-2,962m€-215m€-419m€ 1,226m
Net debt/OMDA at 1.1

Board decision to suspend dividend payment in 202272021

Commercial Activity
2021 Main Wins

2021 Order Entry€10.8bn

Global Industrial
Manufacturer
Global service integrationand management

European High Tech leader
Digital transformation embarking
Cloud, Security and Decarbonization

Book to Bill99%

US Global Insurer

Major Logistics Company

Migration to Public Cloud

Agile and cloud native application
development leveraging AI/ML

Public Authority

European HealthCare player

Dev Ops and integration tosupport Digital transformation

OneCloud to support Digital
Transformation, Security andDecarbonization

Year-end Backlog€23.6bn
Or 2.1 years or revenue

82021

Targeted Bolt-on Acquisitions supporting business mix improvementDigitalCloudSecurity> 1,500
Product Lifecycle
Management

Big Data & Analytics

Cloud Application
Salesforce services

Edge, Big Data &Analytics

Snowflake

Public Cloud Application& cloud migration

Product Lifecycle
Management

Big Data, AI & ML

Cyber Products

In total, companies acquired since 2020 represent c. €600m full-year
revenue (2021) in Digital, Cloud, Security and Decarbonization
9Expertsc.€170m
Annual Revenue(2021)

2021

Key Non-Financial Indicators
Net promoter scorefrom our clients

CO2 Emissions
scopes 1,2 and 3% of total spend
assessed by Ecovadis
or alternative assessments

66%

2.4 Mtons

68%+1 point vs 2020

reduced by -27%
since 2019vs. 63% in 2020

New Digital
Certifications

Great Place To Work
Atos Trust Index®

% of Women in Executive
Management (top 450)

100,026

66%

32%

vs 85,216 in 2020

+1 point vs 2020

from 13% in 2019

Sustainability to remain at the heart of Atos’s strategy
103.

2021 Financial
Performance
Uwe Stelter, Group CFO

2021

Financial Overview
€M

FY
2021

FY
2020

Variation

Variation atconstant currency

10,83911,181

-3.1%

-2.5%

Operating Margin383

1,002% operating margin rate

3.5%

9.0%

-550 bps-540 bpsOMDA

1,095

1,661

% OMDA rate

10.1%

14.9%

Normalized Net income

-215

725

-2,962550

Free Cash Flow-419

513

Net debt

1,226

467

Revenue

Net income

12-480 bps

2021

Revenue Bridge
In €M:

11,181

-4.3%

+1.8%

-0.6%

10,839Foreign Exchange

2021 Revenue-2.5%
at constant currency(Q4: -7.5%)2020 Revenue
13

OrganicScope2021

Increased focus on Digital, Cloud, Security and Decarbonization51%

in 2021

Digital, Cloud, Security, andDecarbonization in % of Grouprevenue46%

in 202040%

in 2019

14

2021

Performance by Regional Business Unit€MRevenue

Operating Margin% OM Rate

FY2021

FY
2020*% YoY@constantcurrency

North America

2,418

2,518-4.0%

254377

10.5%

15.0%

Northern Europe

2,686

2,769

-3.0%

50

230

1.8%

8.3%

Central Europe

2,515

2,699-6.8%

28123

1.1%

4.6%

Southern Europe

2,418

2,347

+3.0%

54

189

2.2%

8.1%

Growing Markets

802

781

+2.7%

73110

9.1%

14.0%

Global Structures

---76

-43

-0.7%

-0.4%

10,83911,114

383

987

3.5%

8.9%

Total
* At constant currency
15-2.5%

FY2021

FY
2020*FY2021FY
2020*

2021

Performance by Industry€M

Revenue

Operating Margin% OM Rate

FY2021

FY
2020*% YoY@constantcurrency

Manufacturing

2,024

1,999

+1.3%

73

68

3.6%

3.4%

Financial Services &Insurance

2,081

2,104-1.1%

37257

1.8%

12.2%

Public Sector & Defense

2,354

2,580

-8.7%

63261

2.7%

10.1%

Telecom, Media &Technology

1,506

1,526

-1.3%

55123

3.6%

8.0%

Resources & Services

1,567

1,623-3.4%

42121

2.7%

7.5%

1,306

1,284

+1.8%

113

157

8.7%

12.2%

10,83911,114-2.5%383

987

3.5%

8.9%

Healthcare & Life
SciencesTotal* At constant currency
16FY2021

FY2020*

FY2021

FY2020*2021

Income Statement€M

FY 2021

FY 2020Revenue

10,83911,181

Operating margin

383

1,002

Reorganization, Rationalization, Integration costs

-437

-205

Amortization of intangible assets (PPA from acquisitions)

-151

-153

Equity based compensation

-34

-74

Impairments and others-2,52980

Operating income-2,768

650

-151

-51

-2,617

599

-39

-51

Effective tax rate

-1.3%

8.6%

Non-controlling interests-3-3

Share of net profit/(loss) of associates

05-2,962

550-215

725

Net financial expenses
Profit before tax

Tax charge

Net income – Group share
Normalized net income – Group share
17Includes German turnaroundcosts: €-180m
Assets and contracts review
leading to impairments andprovisions of €-2,355 m
Change in fair value of OEB
derivative and underlying
Worldline shares: €-81 m

2021€2.4 bn impairments and provisions resulting from assets and contracts review€-1,324 m

Goodwill impairment

Other non-current assets
impairment and provisions
for supplier commitments

Contract assets impairment,
bad debt and provisions

18€-532 m€-499 m

2021

Cash Flow Statement€M

FY 2021

FY 2020383

1,002+ Depreciation of fixed assets

325

332+ Depreciation of right of use

376

352

+ Net book value of assets sold/written off

1015+/- Net charge/(release) of pension provisions-1-41+/- Net charge/(release) of provisions

2

1

1,095

1,661

Capital Expenditures-272-320

Lease payments

-391

-361

Change in working capital requirement

-156

-63

275

916

Tax paid-81-113

Net cost of financial debt paid

-25-33

Reorganization, Rationalization & Integration and acquisition costs-438-191

Other changes-151-66

Free cash flow

-419

513

Operating Margin

Operating Margin before Depreciation & Amortization

Cash from operations

192021
Net Debt Evolution+275

In €M:+101+58

1,226(342)

(94)

+419

883

467

Net debt
2020

20

FCF
FY 2021

M&A

DividendShare
buy-back

FX & otherNet debt
2021

Worldline
SharesNet debt
2021 after
future OEB
conversion

2021
Headcount Evolution+25,886
104,430

Headcount as of
31/12/20

109,135+1,645

Scope

Hiring(19,637)(3,189)

Leavers

Restructuring,dismissals &transfers

Headcount as of
31/12/21

3,060 net organic increase skewed towards offshore locations
214.

2022 Main Priorities& Objectives
Rodolphe Belmer, CEOGroup transformation firmly engaged
Main priorities

P Adapt and simplify governance
Energize sales andcommercial momentum
Rationalize cost structure
Reposition activity portfolio throughdisposals and acquisitions

23

Detailed turnaroundplan to be presented
in May 2022

Atos adapted governanceTo accelerate return to growth

3 Business Lines
Technology Foundations

DigitalBig Data & Security

Datacenter & Hosting
Digital Workplace
UCC
Traditional BPOsDigital applications
Application maintenance
Cloud
Decarbonization

Big Data
Cybersecurity
HPC & Edge Computing
Mission Critical Systems

4 RegionsExecutive Board

Northern Europe & APAC

Streamlined
Executive Boardof 12 members( 24 positions previously)

Southern Europe
Central EuropeAmericas
242022: a pivotal year
Growth bottoming out, back-end loaded performance

H1• Continued decline of classic
IT business• Personnel cost inflation• Supply chain tensions

Further pressure on revenue
and operating margin25

H2• More favorable revenue mix• Lower comparison basis• Benefits from performance
optimization actions alreadyimplemented

Back to revenue growth at cc
Uptick in operating margin2022: a pivotal year
Full-year objectives

Revenue growthat constant currency

26-0.5% to +1.5%

Operating margin(% of revenue)

3% to 5%

Free cash flow€-150m to €200m

5.

Q&A

Thank you

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