Q1 2020 revenue
April 22, 2020

© Atos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-lookingstatements. These risks and uncertainties are linked to factors out of the control of the Company and not precisely estimated, such as
market conditions or competitors behaviors. Any forward-looking statements made in this document are statements about Atos’ beliefs andexpectations 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, or performance, and other information that is not historical information. Actual
events or results may differ from those described in this document due to a number of risks and uncertainties that are described within the2019 Universal Registration Document filed with the Autorité des Marchés Financiers (AMF) on March 3, 2020 under the registration numberD.20-0096. Atos does not undertake, 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.
▶ 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, andBusiness 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), Resource& Services (Energy, Retail, Transportation & Hospitality, and Utilities) and Healthcare & Life Sciences (Healthcare and Pharmaceutical).
▶ Regional Business Units include North America (USA, Canada, and Mexico), Northern Europe (United Kingdom & Ireland, Belgium,Denmark, Estonia, Finland, Lithuania, Luxembourg, The Netherlands, Poland, Russia, and Sweden), Southern Europe (France, Spain,Portugal, and Italy), Central Europe (Germany, Austria, Bulgaria, Croatia, Czech Republic, Greece, Hungary, Israel, Romania, Serbia,Slovakia and Switzerland) and Growing Markets including 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 and UAE), Major Events, Global Cloud hub, and Global Delivery Centers.

2| April 22, 2020 | © AtosAgenda1. Q1 2020 highlights and objectives for 2020
2. Financial performance

3. Conclusion and Q&A

3| April 22, 2020 | © Atos

Q1 2020 highlights

Elie GirardCEO

Number one priority: take care of ouremployees…
Immediate adoption of
all hygiene and safety
guidelines

Crisis Management
Task Forces to lead
employee care

Full adoption of workfrom home across theGroup

Travel stoppage

Very centralized model allowing to react very fast to the Covid-19 crisis
with a strong mobilization of the Human Resources network
5| April 22, 2020 | © Atos

… while supporting our customers during thecrisis
Seamless business
continuity plans
implementation

Support of ourcustomers forgeneralized
work-from-home“Always Ready”
Covid-19 tailoredsolutions program

Reinforced
cybersecurity

Support Public &Health authorities

Accelerate medicalresearch

Fully centralized operational processes allowing to ensure very fast
seamless business continuity and support for our customers
6| April 22, 2020 | © AtosA resilient business profile… (1/2)
A strong business mix▶ 2/3 of multi-year contracts▶ c. 75% of critical services

A robust customer base▶ c. 90% of Atos’ business with companies
having more than €1bn annual revenue
or with Public Sector

ProjectsOthers

12%23%
Big Data &Cybersecurity

10%

Public Sector
or similar

67%
Multi-yearcontracts

7| April 22, 2020 | © Atos

26%
62%

Private sector
customers>€1bn revenueA resilient business profile… (2/2)
A well balanced Industry mix
Global IT Services spend byIndustry*

Atos Industry mix
Healthcare &Life SciencesManufacturing

12%
Resources &Services

6%20%

15%20%15%16%20%
15%
Telecom,Media &Technology

8| April 22, 2020 | © Atos19%

Public Sector& Defense
Financial
Services &Insurance

17%
26%

*Source: Gartner Forecast: Enterprise IT Spending by
Vertical Industry Market, Worldwide, 4Q2019

… allowing to contain 2020 revenue impactc. m€ -750
Reduced demand= c. m€ -600
Net impact on 2020
revenuec. m€ +150

Extra work related to Covid-19

9| April 22, 2020 | © AtosAll stakeholders contributing to mitigate the crisis
impactManagementShareholders

Publicsupportmeasures

AtosCustomers

10| April 22, 2020 | © Atos

EmployeesNonpersonnel
costs

Suppliers

Concrete contributions and implications per
stakeholder…
Third parties✓ Spend freeze for noncustomer related
requirements✓ Reduction ofconsumption, pricerenegotiations✓ Reduction /replacement ofsubcontractors✓ Travel freeze

11| April 22, 2020 | © Atos

Employees & Public
support✓ Hiring freeze✓ Salary freeze /variablecompensation✓ Increase vacation
consumption✓ Part-time work /furlough including
public support

Customers✓ Reasonable
flexibility granted
to somecustomers,expanding services
post crisis✓ Contract
management

Shareholders &Group Management✓ Cancellation of thedividend on lastFiscal Year✓ Reduction of GroupManagementcompensation

… mitigating 2020 operating margin impactc. m€ -600
Net impact from revenue= c. m€ -200
Net impact on 2020
Operating Marginc. m€ +400
Cost saving plan

12| April 22, 2020 | © AtosOther Q1 2020 highlights

Implementation ofSPRING well on track

Major renewals
signed in North
America

Disposal of 13%
Worldline shares for€1.5bn beg. of Feb

Acquisition of Maven
Wave strengthening
Cloud firepower

13| April 22, 2020 | © Atos

Q1 2020 key figures
Revenue Organic evolution

Book to bill ratio

-0.8%

103%
86% in Q1 201914Backlog

Weighted pipeline€22.1bn€7.6bn

1.9 year of revenue€ +0.2bn vs December 2019

| April 22, 2020 | © Atos

Main wins in Q1 2020
A major US
EngineeringCompany

Public Sector& Defense

PrivateCloud,Artificial
Intelligence& Machine
Learning

15

A global
A global
European
Europeanfirm in Capital Pharmaceutical
Goods
Company

Telecom,
Media &Technology

Telecom,
Media &Technology

Financial
Services &Insurance

Resources &Services

Hybrid Cloud,and SecurityServices

DigitalWorkplace

DigitalWorkplace &Infrastructure

CodexSolutions
Automation| April 22, 2020 | © Atos

Manufacturing

SAP HANA

Health & LifeSciences

Digital projecton Synteloffering2020 objectives updated post Covid-19

Revenue organic
evolution
Operatingmargin rate
Free cash flow

Pre Covid-19

Post Covid-19

c. +2%-2% to -4%+20 bps to +40 bps

9.0% to 9.5% ofvs 2019 (10.3% reported)c. €700m

revenue€500m to €600m

Suspension of 2021 targets, the last year of the three-year plan
presented at the Investor Day held on January 30, 201916| April 22, 2020 | © Atos

Financial performance
Uwe StelterGroup 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 2020
2,834

Q1 2019
2,818
26% change
+0.6%

2,834

2,843

-0.3%

2,834

14
1
2,858

-0.8%

▶ Exchange rates effect mainly came from the USD as well as the GBP and positively
contributed to revenue for €+27 million.
▶ Scope effect mostly related to the acquisitions of Maven Wave, IDnomic and X-PERION
and the disposal of Unified Communication & Collaboration, ITO UK and CVC activities.

18| April 22, 2020 | © Atos

Q1 2020 performance by Industry▶ Public Sector & Defense growth with contract ramp-ups in Northern
Europe11%▶ Manufacturing mainly impacted by Aerospace and Chemical Industry▶ Reduction of discretionary expenses in Financial Services & Insurance

19%

15%

▶ Healthcare & Life Sciences impacted by volume reductions in bothNorth America and Northern EuropeIn € million

Manufacturing
Financial Services & Insurance
Public Sector & Defense
Telecom, Media & Technology
Resources & Services

Healthcare & Life Sciences
Total Group* At constant scope and exchange rates

19| April 22, 2020 | © Atos

19%

16%

Q1 2020

Q1 2019*539
527
584
443
418
323
2,834

555
542
566
439
416
340
2,858

Organic
evolution
-2.9%
-2.6%
+3.2%
+0.8%
+0.4%
-4.9%
-0.8%

21%
Manufacturing
Financial Services & Insurance
Public Sector & Defense
Telecom, Media & Technology
Resources & Services

Healthcare & Life Sciences

Q1 2020 performance by Regional Business Unit▶ North America impacted by reduced project volumes

7%▶ Northern Europe supported by Public Sector & Defense

24%▶ Southern Europe faced base effects on High Performance Computing

24%

as well as project delays▶ Central Europe overcompensated the reduction of project work withincreased ramp up of Cloud and Unified Communication contracts
In € million

North America
Northern Europe
Southern Europe
Central Europe
Growing Markets
Total Group* At constant scope and exchange rates

20| April 22, 2020 | © Atos

Q1 2020

Q1 2019*

681
698
594
667
194
2,834

699
696
609
660
192
2,858

Organicevolution
-2.6%
+0.3%
-2.6%
+1.0%
+1.0%
-0.8%

21%

25%

North America
Northern Europe
Southern Europe
Central Europe
Growing Markets

Q1 2020 performance by Division▶ Resilience in Infrastructure & Data Management9%▶ Business & Platform Solutions additionally impacted by alower demand and project delays▶ Continuous double digit growth in Big Data &36%

Cybersecurity

In € million

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

21| April 22, 2020 | © Atos

Q1 2020

Q1 2019*

1,558
1,016
259
2,834

1,566
1,069
223
2,858

Organic
evolution-0.5%-4.9%+16.3%-0.8%

55%

Infrastructure & Data Management
Business & Platform Solutions
Big Data & Cybersecurity

Syntel Synergies

Sales and delivery synergies on track despite Covid-19
Revenue synergy
categories

1Leveraging both Atosand Syntel portfolios
across entire customer
base

Q1 2020 status
A global EU Pharma
Company▪ 66 deals closed inQ1

▪

2

22

New Global
capabilities to capture
large End-to-End Digital
Transformation projects| April 22, 2020 | © Atos

Building a Centre ofExcellence for Data
Analytics to digitise
R&D processes

Total synergy
pipeline of€0.9bn for
decision in 2020

A global Financial
Services Company
Application Development
and Maintenance globallyQ1 2020 headcount evolution

330+5,043-5,089

108,602108,317

Headcount a s of
31/12/19

23| April 22, 2020 | © Atos

Scope

HiringLeave rs, restructuri ng& dismi ssals

Headcount a s of
31/03/20

Focus on financing and liquidity in the context of
Covid-19
Gross cash▪

Strong funds to face an economic downturnand to cover short term reimbursement ofborrowings and lease liabilities▪

€2.4bn Revolving Credit Facility not due until
November 2024 (with 1 year extension option)€ -0.1bn€ -0.2bn€ -1.7bn€ +0.4bn€ +1.4bn

Gross debt: next redemptions
Net debt
31/12/201924

Worldline ABO Consideration paid Worldline shares Proforma Net debt
after Tax & Fees
Maven Wave
underlying the31/12/2019
Optional
Exchangeable
Bond| April 22, 2020 | © Atos▪

2022: €0.7bn bond▪

2023: €0.3bn bond▪

2024: €0.5bn Optional Exchangeable Bond into
Worldline shares▪

Beyond 2024: €1.1bn bond

Focus on pension plans in the context of Covid-19Plan assets : € 3.6bn end of Q1 2020▪ € 3.9bn as of December 31, 2019▪ small exposure to Equities: 10% ofequity well diversified geographicallyBonds/Interest
Rate Swaps

10%
2%
7%

EquityReal Estate

15%
66%

Cash and Cashequivalent
Other

Defined benefit obligation : € 4.5bn end ofQ1 2020
▪ € 4.9bn as of December 31, 2019
▪ 87% of deficit does not require funding in
the next 15 years

13%

Deficitrequiring nofunding next
15 years

87%

Deficitrequiringfunding next
15 years

Deficit reduced from € -1.0bn end of 2019 to € -0.9bn end of Q1 202025

| April 22, 2020 | © AtosBridge 2020 Revenue objectivec. € -450m

2020 Objective
pre Covid-19:
c. +2%
organicallyc. € +50m

c. € -200m
c. € -100m

c. € +100m

2020 Revenue Discretionary Fertilization & Product sales Working from(objectiveprojects
Volumes
Home, Digital
pre Covid-19)
Workplace &Security
26| April 22, 2020 | © Atos2020 Objective
post Covid-19:-2% to -4%
organicallyPublic Sector 2020 Revenuesupport(objective
post Covid-19)

Bridge 2020 Operating Margin objectivec. € +90mc. € +80mc. € -600m
2020 Objective
pre Covid-19:+20 bps to+40 bps versus
20192020 Operating
Margin(objective preCovid-19)

27c. € +20m

c. € +40m

c. € +170m
2020 Objective
post Covid-19:
9.0% to 9.5%of revenue

Revenue
impact| April 22, 2020 | © Atos

Third Party
Spend

Hiring freeze/
Part-time /FurloughTravel freeze Salary freeze &Variable
compensation

Others2020 Operating
Margin(objective postCovid-19)

Bridge 2020 Free Cash Flow objective
c. -150c. -50c. +25c. +252020
Objective preCovid-19:c. € 700m

2020 FCF(objective preCovid-19)
28

2020 Objectivepost Covid-19:€ 500mto € 600m

OM aftertax impact| April 22, 2020 | © AtosCustomer
payments*Capex reduction

Others2020 FCF(objective postCovid-19)*no change in sales of receivables compared to December 31, 2019, as per objective pre Covid-19

Conclusion

Elie Girard
CEO2020 main priorities

Focus on customer
demand post Covid-19

Cost control and Cashmanagement

Roll-out of SPRING
as planned

Pursue bolt-on
acquisitions

A Group well prepared to go through an unprecedented business situationand fully ready for post Covid-19
30| April 22, 2020 | © Atos

?
Q&A?

Thank you

Atos, the Atos logo, Atos|Syntel, and Unify are registered trademarks of the Atos group.
April 2020. © 2020 Atos. Confidential information owned by Atos, to be used by therecipient 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.