FY 2019 results
February 19, 2020

© Atos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, or
performance, 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 and the 2018
Universal Registration Document filed with the AMF on July 30, 2019 under number D.19-0728. Atos does not undertake, andspecifically 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 or inducement toinvest 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 (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| February 19, 2020 | © AtosAgenda1. 2019 highlights and objectives for 2020
2. Financial performance

3. Conclusion and Q&A

3| February 19, 2020 | © Atos

2019 highlights andobjectives for 2020

Elie Girard
CEOFY 2019 Highlights
Infrastructure & Data Management and North America returned to growth in H2
Successful development of Google Cloud partnership, acquisition of Maven Wave
Slight growth in Business & Platform Solutions, with softness in Financial Services in North America,
and a more difficult Automotive sector in Germany towards year end
Synergies with Syntel generated as planned for the first year throughcost efficiency and optimization as well as revenue

Very strong year in Big Data & Cybersecurity led by High Performance Computing and Cyber-services
Increasing attraction of high skills and accelerated investment in innovative offerings
Dynamic commercial momentum with a book to bill at 106% with large signaturesin North America, Germany and United Kingdom; book to bill at 121% in Q4
Strong improvement in all extra-financial KPIs
Atos confirmed leadership in sustainability as #1 worldwide in Digital industry on the DJSI Index
Deconsolidation of Worldline through a €2.3 bn distribution to shareholders in May
combined with sale of shares in November, as well as in February 20205

| February 19, 2020 | © AtosFY 2019 key financial figures

Organic growth

Operating margin rate

vs. +0.4% in 2018vs. 9.8% in 2018

Book to bill

Normalized diluted EPS*

+1.4%

106%

10.3%
€7.74

Free cash flow

€0.6bnTotal headcount108,317121% in Q4

Proposed dividend at €1.40 per share
6| February 19, 2020 | © Atos

*from continuing operations

FY 2019 key extra-financial figures

7

20.97

31%

tCO2 emissions / m€revenuereduced by -24% since 2015

% of women within Atos
+3 points since 2015

Industry comparable: 29% to 32%

51,37659%

New Digital certificationsvs 40,316 in 2018leading to 177,100 end of 2019

Great Place To Work
+9 points since 2015

| February 19, 2020 | © Atosin the first quartile of Digitalindustry

Main wins in Q4 2019

Large Audit& Consulting
firm

Full stack
Digitaltransformation

A NorthAmericanRailwayCompany

DigitalWorkplace

DigitalTransformation
through SAPAmajor UK
telco
company

DigitalWorkplace andCloud contact
center solutions

S/4 HANA
Implementation

8| February 19, 2020 | © Atos

Dutch Ministryof
Infrastructureand WaterManagement

Application &Platform
services

Global Managed
Security
Services

EuropeanCentre for
Medium-Range
Weather
Forecast

UNIVERSIDAD
DE CORDOBA

BullSequana
XH2000supercomputer

Highperformancecomputing2019 achievements with key Alliances

Dell Global
Growth Partner ofthe year
VMware Global
PartnerInnovation
Pivotal Global
breakthroughPartner of theyear EMEA
Joint go tomarketleveraging Delltechnologies inAtos Digital
Hybrid Cloud(DHC)

Google Cloud
GlobalBreakthroughPartner of theYear
75 customer
wins
Order Entry>600M€
Customers in
13 countries
and in all
Industries
4 AI Labs in
Europe andUSA

Member of AWS
Solution Provider& Public Sector
Partner Programs
Top Score in 2019
MSP Renewal
Audit
Portfolio / Go tomarket focus :Large, Complex
Migrations andModernization,
SAP, IoT,
CustomerExperience

Strategic initiative
to accelerate
Azure S/4 Hana
adoption among
SAP large
customers

Several majorwins in Digital
Workplace

New certifications(Azure/O365):
550 in 2019

Preferredprovider ofUnifiedCommunications
as a Service(UCaaS)
solutions to Atos

Atos as firstglobal Systems
Integration
partner toprovide global
cloud
communications
platform

Key alliances leverage Atos leadership in all industries with major wins:
BASF, a North American Railway Company, Philips...
9| February 19, 2020 | © AtosAttraction, Skilling, and Mobility

New Certified Digital
Experts Onboarded

New Digital Certifications
Cost effective and+51k+600 +500 +500
GoogleCloud

Atos Career Webpage

Cybersecurity

10

External Hiring for Entry Level Roles| February 19, 2020 | © Atos

more

+1k

2k

GoogleCloud

Cybersecurity

LinkedIn Followers+3.9m Visitors +240k Followers
58%

x2

progressive skills+transformation

Positions filled internallyStrong internal mobility

81%

CSR recognition and enhanced sustainability
portfolio
2019 Industry CSR leadership2019 Sustainability portfolio released
Digital carbon footprint measurement

82/100Consulting methodology

Industry average: 39/100

Low carbon coding

A

Optimized coding to reduce software energy
consumption

Industry average: B

Data center energy efficiency

AAA

Power optimization, renewable energy

Industry average: BBB

Hardware energy efficiency

4.8/5

Patented cooling system, stringent green hardware
purchasing policy

80/100

Atos Green app to drive responsible
Digital behaviours

Industry average: 2.6/5

Industry average: 43/100

11| February 19, 2020 | © Atos

Monitoring employee carbon footprint

11

Further improvement in 2020

2020 objectives
Revenue
Operatingmargin rate
Free cash flow
12

| February 19, 2020 | © Atosc. +2% organic growth+20 bps to +40 bps vs 2019c. €700m

My first priority has been to meet customers &peopleMeet large customers and prospects
Across all Industries

Meet partners
Including partners with Industry specific capabilities

Launch of an Industry approach
prepared throughout 2019:
SPRING
Reshape our portfolio of offerings

Roadshows across Atos sites
Review of Atos skills and offerings

Redesign our go-to-market approach

Meet Experts, and Atos Scientific community
Assessment of mid-term Business, Digital, andTechnology trends

Set-up an Industry led organization

SPRING to serve our customers even better and drive our culture ofcustomer obsession even further
13| February 19, 2020 | © AtosImplementation of the new Industry led
organization
6
GlobalIndustries

Manufacturing(MAN)
Telecom,Media& Technology(TMT)

Northern
Europe5 Regional
Business
Units
(RBU)

Financial
Services& Insurance (FSI)

Public Sector& Defense(PSD)

Resources& Services(R&S)

Healthcare& Life Sciences(HLS)

Central Europe

Southern Europe
North
America
Growing Markets

14| February 19, 2020 | © AtosAppointment of an adapted Top management teamAccountabilities

Group Management Committee

Support Functions

Uwe Stelter

6 Global Industries
designing offeringsand driving go-to-market

Chief Financial Officer

Manufacturing and Chief Operating Officer

Adrian Gregory

Sophie Proust

FSI and Business & Platform Solutions
Atos|Syntel

Chief Technology Officer

Pierre BarnabéPaul Peterson

PSD and Big Data & Cybersecurity

Human Resources

5 Regional Business Units (RBU)
reflecting Industry set up and ensuring
customer proximity

Jean-Philippe Poirault

Marc Meyer

Executives and Marketing &Communications

Elie Girard

Chief
Elie Girard
Executive
Chief
Officer
Executive
Officer

Alexandre Menais

General Secretary

Philippe Mareine

Global Operations
Divisions to move to practices, in charge of
quality excellence and cost competitiveness

Digital & Transformation andCorporate Social Responsability

Giuseppe Di Franco
R&S

Robert Vassoyan

HLS and Unified Communication& Collaboration
North America

Gilles Arditti

Investor Relations and Internal Audit

Performance

Jo Debecker

Infrastructure & Data Management| February 19, 2020 | © Atos

TMT and Southern Europe

Simon Walsh

Enguerrand de Pontevès

15

Eric Grall

Ursula Morgenstern
Central EuropePeter 't Jong

Northern Europe

Nourdine Bihmane

Growing Markets and Business & Platform Solutions
Public & Regional

2020 Analyst Day
April 22, 2020 in Paris

16| February 19, 2020 | © Atos

Financial performance

Uwe StelterGroup CFO

FY 2019 Commercial activity dashboard

Order entry€12.2bn

Book to bill
106%
121% in Q4 201918

| February 19, 2020 | © Atos

Backlog€21.9bn

1.9 year of revenue

Qualified Pipeline€7.4bn
7.6 months of revenue

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
Statutory operating margin
Scope effectExchange rates effectOperating margin at constant scope and exchange rates
as % of revenue

2019
11,5882018
12,258117% change-5.5%

11,58812,375-6.4%

11,588-982
37
11,430

+1.4%

1,190

1,190
10.3%

1,260
-154
19
1,125
9.8%

-5.6%

+5.8%

▶ Exchange rates effect positively contributed to revenue for €+154 million and to operating margin for €+19
million mainly coming from the American dollar.
▶ Scope effect mostly related to the restatement linked to the deconsolidation of Worldline, the acquisition of
Syntel, and the disposal of some specific Unified Communication & Collaboration activities.
19| February 19, 2020 | © Atos

2019 performance by Division▶ Infrastructure & Data Management back to growth in H2 led by North America▶ Slight growth in Business & Platform Solutions impacted by Healthcare and Financial Services inNorth America in H2, as well as by Automotive in Germany in Q4▶ High growth in Big Data & Cybersecurity led by High Performance Computing and Cybersecurity
Services▶ Operating margin achieved 10.3% improving from 9.8% driven by cost synergies with Syntel
and cost saving actions (RACE and Germany)
Revenue
2019

2018*

Infrastructure & Data Management
6,321
Business & Platform Solutions
4,216
Big Data & Cybersecurity
1,050
Corporate costs
Total
11,588

6,362
4,180
888
11,430In € million* At constant scope and exchange rates

20| February 19, 2020 | © Atos

Operating margin
Organic
evolution
-0.6%
+0.9%
+18.3%+1.4%

Operating m argin %

2019

2018*

2019

2018*

614
492
149
-65
1,190

589
483
127
-74
1,125

9.7%
11.7%
14.2%
-0.6%
10.3%

9.3%
11.6%
14.3%
-0.7%
9.8%

Infrastructure & Data Management
North America▶ Revenue back to growth in H2
15%▶ Pursue transition to hybrid cloud and accelerationin Digital workplace▶ Operating margin improvement from RACE andadaptation plan in Germany▶ -2% staff reduction mainly from automation
In € million

Revenue
Operating margin
Operating margin rate
* At constant scope and exchange rates

21| February 19, 2020 | © Atos

2019

2018*

6,321
614
9.7%

6,362
589
9.3%

Organic
evolution
-0.6%

27%

8%

Germany
United Kingdom & Ireland

9%

Benelux & The Nordics

19%

22%

FranceOther countries

Business & Platform Solutions▶ Slight growth with some softness in Financial
services in North America and Automotive inGermany in H2▶ Growth led by Digital transformation andautomation projects in Manufacturing & Retail▶ Cost synergies with Syntel and RACE program
contributing to reach 11.7% operating margin▶ -4% staff reduction from Artificial Intelligenceand robotization
In € million

Revenue
Operating margin
Operating margin rate
* At constant scope and exchange rates

22| February 19, 2020 | © Atos

2019

2018*

4,216
492
11.7%

4,180
483
11.6%

Organic
evolution+0.9%

North America
22%

24%

FranceGermany

9%
21%

9%

Benelux & The Nordics

United Kingdom & Ireland
15%

Other countries

Syntel Revenue Synergies
Pipeline remains solid and synergies to accelerate in 2020
Synergy categories

2019 status

Leverage Syntel
portfolio into Atos’
Clients into North
America and Europe

Smaller projects inalmost all targeted Atos
customers

New Global
capabilities to capture
large End-to-End Digital
Transformation projects

Overperforming withlarge combined wins ie.
Philips, US healthcare
provider1

2

Leverage Atos
portfolio into Syntel
base

3

23

| February 19, 2020 | © Atos

Ramping up with firstdeals started in the
United Kingdom

Revenue Synergies▪ 28 deals closed in H2▪

Total qualified opportunities at year
end reached $0.6bn

Global Advisory Firm
(Syntel customer)

Automation powered
service deskmanagement and end
user operations

US based healthcare
payment and revenue
solutions company(New customer)

Data & Insights - DataManagement, Analytics,
Business Processes andInfrastructure Support

Syntel delivery and Customer Satisfaction

Transformation is delivering cost synergies and better customer service
Syntel delivery andcost synergies▶ Legacy Syntel scope kept high level of operating

Processes and Quality“Customer for Life”▶

Improved CSAT outcomes over H1 2019 –Higher ratings on ‘Meeting Customer
Expectations’ and ‘Innovation’▶

76% of our large customers now
Promoters; 16 new large customers are
now Promoters from passive/detractors▶

Value-4-Client joint initiative in Atos Syntel
launched in Q4 to strengthen value forcustomers

margin even slightly improving it▶ €35m cost synergies run-rate end of 2019, of

which €30m effect in 2019 through improved
operational effectiveness and G&A cost
improvements▶ As part of the €30m, procurement and real estatesynergies resulted in €12m

24

| February 19, 2020 | © AtosBig Data & Cybersecurity▶ Acceleration of organic revenue growth
led by High Performance Computing andCybersecurity services▶ Further investments to extend thebusiness both in terms of industries andgeographies▶ +6% staff increasebusiness demandIn € million

Revenue
Operating margin
Operating margin rate
* At constant scope and exchange rates

25| February 19, 2020 | © Atos

reflecting

strong

2019

2018*

1,050
149
14.2%

888
127
14.3%

Organic
evolution+18.3%

FranceGermany

21%
40%
6%

Benelux & The Nordics

8%
9%

North America

United Kingdom & Ireland

16%

Other countries

2019 performance by Global Business Unit
▶ Positive growth in all Global Business Units except North America, which is back to growth in H2▶ Operating margin improvement in most geographies
RevenueIn € million

North America
Germany
FranceUnited Kingdom & Ireland
Benelux & The Nordics
Other Business Units
Global structures**
Total

2019

2018*

2,725
2,167
1,788
1,669
1,047
2,192
11,588

2,789
2,153
1,727
1,668
1,016
2,077
11,430Operating margin
Organic
evolution
-2.3%
+0.7%
+3.5%
+0.0%
+3.0%
+5.6%
+1.4%

Operating m argin %

2019

2018*

2019

2018*

343
152
164
165
88
319
-42
1,190

300
126
151
198
71
344
-66
1,125

12.6%
7.0%
9.2%
9.9%
8.4%
14.6%
-0.4%
10.3%

10.8%
5.9%
8.7%
11.9%
7.0%
16.5%
-0.6%
9.8%

* At constant scope and exchange rates** Global structures include the IT Services Divisions global costs not allocated to the Business Units and Corporate costs.

26| February 19, 2020 | © Atos

2019

RACE set to accelerate in 2020: cost savings tofurther increase competitiveness▪

New methodology of billing process optimization generated 28m€▪

Real Estate, including Syntel consolidation, brought 26m€ of savings▪

Span of Control leading to redeployment of 350+ people, within the business▪

Automation delivered 20m€ additional margin

2020: from 12 to 15 Programs
1. Lean
2. Automation
3. Cash & Billing
4. Contract Prospect Improvement
5. Contract Negotiation
6. Supplier Management
7. Enterprise License Agreement
8. HR
9. SalesForce
10. Real Estate
11. Function As A Service Transformation
12. Process Simplification
13. Digital Transformation
14. Data Center
15. Contract Management

27| February 19, 2020 | © Atos•

Drive of cross-selling via a tighter sales discipline, based on Salesforce tool•

Optimize General & Administrative function cost•

Consolidate Supplier Management to generate additional savings•

New sustainability targets for our Data Center utilization•

Simplification & digitalization of Group processes•

Usage of new contract / Analytics / AI tool for customer contracts

2019 headcount evolution

28| February 19, 2020 | © Atos

Income statement
In € million

2019

2018

Revenue

11,588

10,648Operating margin% of revenue

1,190
10.3%

967
9.1%

Reorganization, Rationalisation, Integration & acquisition costs
Amortization of intangible assets (PPA from acquisitions)
Equity based compensation
Others

-175
-157
-73
-125

-154
-107
-36
-40

Operating income

660

630

Net financial expenses

-208

-67

Profit before tax

452

564

-82
18.2%
-3
47

-1
0.3%
-4
2

Net income from continuing operations - Group share

414

560

Net income from discontinued operation - Group share

2,986

70

Tax charge
Effective tax rate
Non-controlling interests
Share of net profit of associates

29| February 19, 2020 | © Atos

*from continuing operations

From operating margin
to net income*:

2019 includes▶ Worldline▪ Sale of shares: -€53m▪ OEB: -€54m▪ Profit of associates: +€47m▶ Syntel▪ Synergies implementation: -€30m▪ Interests: -€60m▪ Amortization PPA: -€67m▶ Adaptation plan Germany: -€25m▶ Settlement Telco Germany: -€23m

Normalized net income and normalized EPSGroup share evolution
Net income from continuing operations
Group share

Normalized Basic EPS from continuing operations Group
share (in € per share)
Normalized Diluted EPS from continuing operations Group
share (in € per share)

7.74

834

2019
30

| February 19, 2020 | © Atos

7.74

7.57

803

2018

2019

2018

7.57

Cash flow statement
2019

In € million

Operating margin

1,190

967

as a % of revenue

10.3%

9.1%

OMDA

1,802

1,210

as a % of revenue

15.5%

11.4%

Capital Expenditures
Lease payments
Change in working capital requirement
Cash from operations

-324
-345
-130
1,004

-371
0
-95
744

-173
-99
-64
-25
642

-146
-80
-30
-37
451

53.9%

46.6%

605

451

50.8%

46.6%

Reorganisation, Rationalisation & Integration
Taxes paid
Net cost of financial debt paid
Other changes
Free cash flow IFRSFree Cash Flow / Operating Margin

Free cash flow restated*
Free Cash Flow / Operating Margin
31

2018

| February 19, 2020 | © Atos

* excluding € 37 million of one off items related to the Optional
Exchangeable BondNet debt evolution-1,736-75-2,87218-1,551-58-113-1,609

Capitalincrease

Dividend
paid

Share
buy-back

-14

701
37
35
Net debt
31/12/2018

32

Opening net
debt ofWorldline

605
Free cashflow*| February 19, 2020 | © Atos

One-off items
related to the
Optional
Exchangeable
Bond

Disposal ofWorldline
shares net of
tax

Other
acquisitions /disposals

FX ratefluctuation* excluding € 37 million of one off items related to the Optional
Exchangeable Bond

Net debt
31/12/2019

From 2019 to 2020 free cash flow: forecasted
evolution
Main drivers on Operating Margin

1

Syntel cost synergies

2

Automation and AI inInfrastructure & DataManagement and Business& Platform Solutions

3

Topline growth in BDS

4

New RACE actions

5

Adaptation plan inGermany

33| February 19, 2020 | © AtosConclusion

Elie Girard
CEO2020 main priorities

Organic growthIntegration

Pursue current positive momentum

Complete Syntel synergies

Acquisitions

Transformation

Bolt-on focused on key offerings
Cyber and Big Data

Portfolio of offerings,
go-to-market, Industry set up

2020: a year of transformation
with further improvement in business and financial objectives
35| February 19, 2020 | © Atos

?
Q&A

?

Thank you

Atos, the Atos logo, Atos Syntel, and Unify are registered trademarks of the Atos group.
February 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.