Market Update
Presentation of the parametersof Atos refinancing framework

Paris | April 9, 2024

© 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-looking statements. These risks and uncertainties are linked tofactors out of the control 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’s beliefs andexpectations and should be evaluated as such. Forward-looking statements include statements that may relate to
Atos’s plans, objectives, strategies, goals, future events, future revenues or synergies, or performance, and otherinformation that is not historical information. Actual events or results may differ from those described in thisdocument due to a number of risks and uncertainties that are described within the 2022 Universal Registration
Document filed with the Autorité des Marchés Financiers (AMF) on April 21, 2023 under the registration number
D.23-0321 and within the 2023 Consolidated financial statements published by Atos SE on March 26, 2024. Atosdoes not undertake, and specifically disclaims, any obligation or responsibility to update or amend any of theinformation above except as otherwise required by law. This document does not contain or constitute an offer of
Atos’s shares for sale or an invitation or inducement to invest in Atos’s shares in France, the United States ofAmerica or any other jurisdiction.
This document includes information on specific transactions that shall be considered as projects only. In particular,
any decision relating to the information or projects mentioned in this document and their terms and conditions will
only be made after the ongoing in-depth analysis considering tax, legal, operational, finance, HR and all otherrelevant aspects have been completed and will be subject to general market conditions and other customary
conditions, including governance bodies and shareholders’ approval as well as appropriate processes with therelevant employee representative bodies in accordance with applicable laws.
Revenue organic growth is presented at constant scope and exchange rates.
Regional Business Units include Americas including North America (USA, Canada, Guatemala and Mexico) andSouth America (Argentina, Brazil, Chile, Colombia, Uruguay, and Peru), Northern Europe and APAC including
Northern Europe (United Kingdom & Ireland, Belgium, Denmark, Estonia, Belarus, Finland, Lithuania, Luxembourg,
The Netherlands, Norway and Sweden) and Asia-Pacific (Australia, China, Hong Kong, India, Japan, Malaysia, New
Zealand, Philippines, Singapore, Taiwan, Thailand and South Korea), Central Europe (Austria, Bosnia andHerzegoniva, Bulgaria, Croatia, Czech Republic, Germany, Greece, Hungary, Israel, Poland, Romania, Serbia,
Slovenia, Slovakia, and Switzerland), Southern Europe (Andorra, France, Italy, Portugal, and Spain) and Rest of theWorld including Middle East & Africa (Abu Dhabi , Algeria, Benin, Burkina Faso, Egypt, Gabon, Ivory Coast, Kenya,
Lebanon, Madagascar, Mali, Mauritius, Morocco, Namibia, Qatar, , Kingdom of Saudi Arabia, Senegal, South Africa,
Tunisia, Turkey and UAE), Major Events and Global Delivery Centers.

2| 08-04-2024 | © AtosAgenda1.

Situation update

2.

Atos strategic overview and business outlook

3.

Refinancing framework4.

Timetable and next steps

Atos is a strong business with compelling value but needs to address
its high level of debt
Unique and differentiated underlying assets✓ Leading position in key IT segments of the market

Challenges▪ Cash burn over the next two years✓ Blue-chip customers across 69 countries with longstanding
relationship▪ Credit rating preventing access to capital markets✓ Successful operations with clear actionable value creation
strategy▪ Significant upcoming maturities✓ Broad IP / patents portfolio with differentiated offerings andunique sovereign capabilities✓ Great talent pool and efficient training program certifications4| 08-04-2024 | © Atos

▪ Potential sale of strategic assets would take time to execute

Agenda1.

Situation update

2.

Atos strategic overview and business outlook

3.

Refinancing framework4.

Timetable and next steps

Atos is a global IT Leader€10.7bn€1.0bn

€467m

~95k

69

2023A Revenue

2023A OMDA

2023A Operating Margin

Employees

Countries of operations

Revenue breakdown by Division and Geography1
Others & Global Structures 3%

Digital 34%

TechFoundations
51%

Southern
Europe 21%

Northern
Europe &APAC 30%

EvidenAmericas23%

BDS 14%6| 08-04-2024 | © Atos

Source: Company information. Note: Split may not add-up to 100% due to rounding. 1. 2023PF by division

CentralEurope 23%

Introduction to Eviden• Eviden plays in high growth and mission criticalmarket segments
Digital 34%• Eviden has unique IP, talent, assets, and capabilities
Eviden

BDS 14%

Source: Company information

7| 08-04-2024 | © Atos

• Strategic plan delivers solid revenue growth, robust
margin expansion and high cash conversion

Eviden: Leading global player providing mission critical IT services€5.1bn

Revenue mix

Others1%

2023A Revenue
BDS
29%

c.47k

Digital71%

Americas24%

CentralEurope26%

Employees
Northern
Europe &
APAC
24%

45
Countriesof operations+2,100Patents

50,000+
Certifications
Source: Company information

8| 08-04-2024 | © AtosSouthern
Europe25%

Earning clients’ trust

20+

89%

> 97%

of Top 30 clients havebeen with us for 10+ years

Contract
Renewal rate

Revenue generated
from existing clientsEviden: Distinct capabilities and value proposition

European leader inmanaged security services

Emerging end-to-end cloudtransformation player

Combining unique
technology bricks acrossbusiness lines into
integrated solutions

Source: Company information

9| 08-04-2024 | © Atos

Strong offering insovereign cloud solutions

Sole European HPC
manufacturer and leader
in Gen AI

Portfolio of patented
cybersecurity solutions

Key strategic player inEurope for mission-criticalsystems

Eviden: Distinctive offerings and trusted capabilities (1/2)
Power AI-driven digital
experience

OneCloud

Help scale businesses forthe futurec.€3.1bn’23PF Sales

Leader in Generative AI
services

Leader in
Data & Analytics

2023

Top 10 in SAP
S/4 Hana

2022

2022

Generative AI

DigitalDigitalservices’23PF Sales

Protect data and missioncritical ecosystems

c.€0.8bn

Extract value from datac.€0.6bn’23PF Sales

Challenger in Public Cloud
2023

Top player and Leader in Europe
in Cyber Security
2023

European leader inManaged Security Services
2022

BDS

Digitalsecurityc.€0.4bn

AdvancedcomputingSource: Company information

10| 08-04-2024 | © Atos

’23PF Sales#1 in SuperComputing in Europe,
India and South America
2023“Leaders of leaders”
in Edge/AI
2022

Eviden: Distinctive offerings and trusted capabilities (2/2)
Capabilities
Offerings

DigitalDigitalservices

Transformation acceleration
Smart platforms

Cloud advisory

OneCloud

Cloud design & build
Cloud operations

BDS

Digitalsecurity

Cybersecurity Services
Cybersecurity Products
Mission Critical Systems

DesignImplementation

Maintenance &Management

Product Development(SW & HW)

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

AI-dedicated GPU clusters

Advancedcomputing

HPC & quantum computing
Business computing & big data
Vertical Gen AI solutions

Source: Company information

11

Advisory /Consulting| 08-04-2024 | © Atos

Digital

Eviden: Over 2,100 patents across offering portfolio
Use case#patent families#patents

Automation

49

112

Leading European patent holder on
Quantum Computing

7

16

75 patents - with a leading position on hybridarchitecture and compilation

Hybrid Cloud

9

20

Modern Applications

7

7

Digital Security

Cybersecurity

113

293

Edge
Computing

Edge (incl. IoT)

116

315

~1,100 patents

AI

105

235

Growing digital security portfolio

Advanced Computing(incl. Quantum)

343

1,095

Others

13

7

762

2,100

DigitalServices

Immersive Experience

BDS

Cloud

HPC

Total

Source: Company information

12| 08-04-2024 | © Atos

A pioneer in AI and Edge/ioT
550 patents on technologies to support
customers in their AI and IoT/edge journey

HPC patent leader

293 patents incl. a strong push on MDR andcritical systems, including multiple patents incritical communications & networks

Eviden: Strong partnerships with leading players in the ecosystem

DigitalCloud

Security

Data Insight &Automation
AdvancedcomputingSource: Company information

13| 08-04-2024 | © Atos

A dedicated organization
To support partnerships incl. dedicatedsales teams, joint R&D, marketing andtraining academies

30+ partnerships
Partnerships established with the mostinnovative technology companies

Multiple awards received
Eviden is repetitively awarded the Partner of
the Year by its partners>16,500 certifications
on AWS, Microsoft & Google CloudEviden: Operating in the fastest-growing and most critical segmentsof the IT market
IT Digital Services & Solutions market size$bn, 2023-2027

CAGR, 2023-2027

1,383

Digital services

693
836

10%

Cloud

26%

Evidensubmarkets

475

Digital security

12%

Advanced computing

9%

356
143
178
40

57

2023A

2027E

Source: Gartner and Hyperion Research

14

277

| 08-04-2024 | © AtosEviden: Structural tailwinds aligned with business strengths

Digital capabilities,
including AI, morecritical than ever

Disruption of themarket by cloud &hyperscalers

Talent shortage
pushing towards
outsourcing

Shift to a‘no-perimeter’cybersecurity+44% p.a.

~50%

+14%

+15% p.a.

Generative AI market
growth, excluding
computing powerof future services
revenue will be
influenced byhyperscalers and as-aservice platforms

Annual growth of labor
shortage in tech globally

Growth in cost of
cyberattacks, as digitalsurfaces expand and thevalue of data surges

Source: Company information. Market research firms

15| 08-04-2024 | © Atos

New use caseswith AI & Gen-AI

New use-cases andbooming demand for
dedicated architectures
combining computing
power, secure data
management and verticaluses cases

Eviden: Great opportunities generated by the Data /AI revolution
Geopbytes
1031 Bytes
Brontobytes
1027 Bytes

Mainframesera (1960s)

Networksera (1980s)

Terabytes
1012 Bytes

Social, Mobile, Analytics
and Cloud era (2000s)

Petabytes
1015 Bytes

Source: Company information. Market research firms

16| 08-04-2024 | © Atos

Exabytes
1018 Bytes

Yottabytes
1024 Bytes

Now
Zettabytes
1021 Bytes

New BUSINESS MODELS

From vertical to business ecosystems
Data/AI driven moment-centric markets

New CUSTOMER RELATIONS

From human to augmented customers
AI-powered humans & machines

New MODES OF OPERATIONS

From on/offshore to AI-Shore
Autonomous agents everywhereEviden: Key pillars of growth strategy

1

2

3

4

Comprehensive portfolio
offerings

Cross-selling”Customer For Life”

Talent as a Differentiator▪

Investment in our people,
capabilities andaccreditations▪

Consistently a top
employer everywhere we
operate▪

GenAI offerings acrossbusiness lines (digitalsolutions, computing, security)▪

Sovereign Cloud with security
and data protection bricks

Source: Company information17| 08-04-2024 | © Atos▪

Synergistic go-to-market byindustry platforms▪

Clear roadmap tocommercial excellence▪

Integrated offering
combining technology bricks
from across business lines▪

Customer retention driven
by differentiated service
approach (Eviden 15
promises)Eviden: Solid revenue growth profile
6.6• Strong demand and portfolio / mix effect driven by Gen AI• Shift to as-a-Service and Cloud HPC / GPU

1.2• Enhanced AI-powered cyber offerings (e.g., Paladion MDR)

1.1

4.9
0.6
0.8
0.4

Advancedcomputing
Digitalsecurity• Increases demand across Services portfolio due to cyber threat
intensity and regulatory compliance• Growth from indirect channels and marketplace / SaaS sales

Cloud• Demand driven by continued cloud adoption and hyperscaler
platform consumption• New controlled, trusted, sovereign cloud offerings boosted byincreasing regulatory compliance and data security focus

3.1

4.4 1

DigitalServices• Accelerated demand for digital transformation• New industry solutions powered by GenAI and Advanced Big Data
Analytics

18

2023PF

2027E

€bn

€bn

| 08-04-2024 | © Atos

Note: 1. Including Digital Services and CloudEviden: Sustained margin expansion

12%

803
%

Portfolio /mix effect% margin▪ Shift to higher-margin activities, including Gen AI solutions,cyber products and expert consulting▪ Increase share of subscription and maintenance revenue▪ Solution selling

Value based
pricing▪ Software and IP differentiated pricing▪ Gen AI platform▪ Sovereign cloud capabilities▪ Labor pyramid optimization

Workforce▪ Best-shore delivery model
management▪ Spans and layers optimization

5%

268

Utilization
andproductivity▪ Higher utilization and billability▪ Reduction of indirect support cost
▪ Tighter supply chain management▪ Top quartile G&A targets

Structure▪ Better fixed capacity utilization
improvement▪ Increased subsidies for strategic sovereign innovations

Wage increase and investment in R&D and growth192023PF

2027E

€m

€m

| 08-04-2024 | © AtosEviden: Overview of financial trajectory
Eviden€m

2023PF

2024E

2025E

2026E

2027E

External Revenue

4,914

5,022

5,546

6,084

6,631

+2.2%

+10.4%

+9.7%

+9.0%

Growth (%)
Operating Margin

268

303

531

668

803

Margin (%)

5.5%

6.0%

9.6%

11.0%

12.1%

Free Cash Flow before interest and taxes

n.a.

99

402

700

609

20

| 08-04-2024 | © AtosIntroduction to Tech Foundations• Tech Foundations operates in core segmentsof the IT market undergoing structuraltransformation
TechFoundations
51%• Tech Foundations has unique talent, assets
and capabilities with industry leading
offerings• Strategic plan delivers improvements in
profit margin and turnaround in cash flow
generation
Source: Company information

21| 08-04-2024 | © AtosTech Foundations: Strong client base with long-term relationships€5.6 bn

Revenue mix
BPO & UCC
17%

2023A Revenue

48k+
Employees

69
Countriesof operations

25+ years
Empowering CIOs
for mission-criticaloperations

22| 08-04-2024 | © AtosBusiness
Platforms
6%

Technical
Services
20%

Hybrid Cloudand
Infrastructure
36%

DigitalWorkplace21%

Others4%Southern
Europe19%

CentralEurope21%

Northern
Europe &APAC
35%

Americas21%

Earning clients’ trust
Average relationship

10-year across Top 170 clients

90%+ Renewal rate

Points above industry

20%+ NPS in client satisfaction

Tech Foundations: Core business segments
Offering

Segments

Generative AI

Hybrid cloud &infrastructure

Credentials
Winner of Juniper
Networks Elevate Award

Hybrid multi-cloudinfrastructure

Mainframe and infra Associated networks
modernization
management

Digitalcollaboration

Digital businessplatforms

Employeeengagement

Key vertical solutions such as Digital ID,
Connected Solutions, major sports events, etc.

BPO and VAR| 08-04-2024 | © AtosIntelligent
customer careEnd-to end solutions leveraging AI, from designand operation to hybrid infra services

Non-core

23“Data Centerof the Future”

2023

US Workplace
Support Services

Digital workplace

Technology
advisory &customized services#1

Leader in Data Center
Outsourcing and Hybrid
Infrastructure Managed
Services in North America
2021

Leader in Outsourced
Digital Workplace Services
2016-2024

2023

Leader in ISG Provider
Lens Quadrant Reportfor Data Analytics
Services in the U.S.

Technology
Operations Center

2021

Magic Quadrant for
Industrial IoT Platforms
2019Tech Foundations: Orchestrator and managed service provider ofchoice across the full cloud infrastructure continuum
Infrastructure Hosting Technologies

Traditional IT infra
incl. mainframe

Privatecloud

Publiccloud

Hybrid cloud &multi-cloud services

Emerging

SovereigncloudIntelligent networks
Application operations
Multi-services control center (orchestration and management framework)24| 08-04-2024 | © Atos

Edge
services

IT carbon footprint reduction

Cyber Security

Traditional

Tech Foundations: Comprehensive business transformation

Talent strategy

Margin expansion

Process modernization &operating model25| 08-04-2024 | © Atos

CultureAI driventransformation

Portfolio redesign

Rearchitecting the Go-tomarket modelTech Foundations: IT infrastructure market undergoing transformation
IT Infrastructure market size

CAGR, 2023-2027$bn, 2023-2027

940

Hybrid cloud &infrastructure

5%

730
514
426
91

73

Digital workplace

6%

Technology advisory &customized services

12%

201

129
103

134

2023A

2027E

Source: Gartner

26

Tech
Foundations
submarkets| 08-04-2024 | © Atos

Note: Non-core activities not considered as intended to be gradually exited

Digital businessplatforms

7%

Tech Foundations: Market trends driving demand for services

Distributed workforce post
Covid redefining theworkplace needs and services

Fast move to multi-cloud &hybrid configuration

Importance of sovereign
cloud and cybersecurity

Coming age of artificial
intelligence

>75%

>80%

>80%

70%

of employees prefer some sort ofhybrid workof enterprises have adopted hybrid
cloudof organizations are repatriating datafrom public clouds to meet data
sovereignty requirementsof business leaders mention AI as a
top priority

47%

27

+70%

using 2 or 3 public cloud providers

+38%

24%

increase for remote support software
apps such as device accessmanagement, IT remote support>75%

increase in cyber-attacks globally in
2022 vs 2021

of CIOs mention hyper automation
as a top priority| 08-04-2024 | © Atosof data will be produced andprocessed at the edge

Tech Foundations: Portfolio tailwinds generated by GenAIKey GenAI trends…

…increase overall offering relevance …

…and enhance delivery

AI-assisted incident andproblem management

Vertical clouds

Domain specific
GenAI eco systems

Proprietary datasets
as differentiators

Explosion in
infrastructureservices

Advisory
practice to drive
adoption of ethical
GenAI

Integrating
domain specific
GenAI eco systems

Enhancedexisting portfolio
offerings

Cross-language, low-costservice desk

Rapidly scalable scripting
and automation

Accelerated deal
solutioning capabilities28| 08-04-2024 | © AtosTech Foundations: Resilient topline profile
5.2
0.3

DBP

0.6

BPO

4.8

Dedicated sales org aligned by business outcome

0.4
0.1

Investment in business development, advisors and large deal teams
1.1

1.2

TS
Holistic approach to grow top 100 accounts – cross sell, newofferings

1.1

Digitalworkplace

Proactive retention and customer experience

1.1

Scaling alliances with partners’ ecosystem incl. hyperscalers

2.0

Infrastructure

Tailored geo-wise growth strategy

2.0

Exit from BPO UK projects and ramp-down on Red accounts

29

2023PF

2027E

€bn

€bn

| 08-04-2024 | © AtosTech Foundations: Improved profitability
8%%Classical levers

Next-gen levers

Delivery
Modernization

High-Cost Location
restructuring

Data-driven,autonomous
operation

Project Margin
Expansion

Turnaround of underperforming accounts
Contractual levers(inc. pricing)AI-based contract
management and AI
enhanced offerings

3rd Party
Spend

Supplier consolidation& renegotiation

Spend analysis
leveraging AI

Sales, General &Administration

Rationalization of Sales,
General &Administration functions

Increasing self-serve% margin

3%

373

148

and automated tasks

2023PF€m30| 08-04-2024 | © Atos

2027E

Wage increase and investment in growth€mTech Foundations: Overview of financial trajectory
Tech Foundations€mExternal Revenue

2023PF

2024E

2025E

2026E

2027E

5,179

4,878

4,635

4,732

4,789

(5.8%)(5.0%)

+2.1%

+1.2%

Growth (%)
Operating Margin

148

123

108

263

373

Margin (%)

2.9%

2.5%

2.3%

5.5%

7.8%

Free Cash Flow before interest and taxes

n.a.

(112)

(201)

87

274

31

| 08-04-2024 | © Atos

Group: Business Plan Summary
Revenue mix1
Others & Global
Structures
3%

Digital 34%
Southern
Europe21%

TechFoundations
51%

Eviden

Northern
Europe &APAC
30%

Americas23%

CentralEurope23%

BDS 14%

Overview of financial trajectory€m2023PF

2024E

2025E

2026E

2027E

External Revenue

10,0939,900

10,182

10,817

11,420(1.9%)

+2.8%

+6.2%

+5.6%

Growth (%)

32

Operating Margin

416

427

639

930

1,176

Margin (%)

4.1%

4.3%

6.3%

8.6%

10.3%

OMDA pre-IFRS 16

n.a

754

1,102

1,209

1,455

Margin (%)

n.a

7.6%

10.8%

11.2%

12.7%

Free Cash Flow before interest and taxes

n.a.

(13)

202

788

883

| 08-04-2024 | © Atos

Source: Company information. Note: Split may not add-up to 100% due to rounding. 1. 2023PF by divisionGroup: Overview of P&L and cash flow items
P&L and Cash Flow items
€m

2024E

2025E

2026E

2027E

External Revenue

9,900

10,817+6.2%
930

11,420+5.6%
1,176

Operating Margin427

10,182+2.8%
639% External Revenue

4.3%

6.3%

8.6%

10.3%

D&A
Depreciation of fixed assets and RoU
Depreciation of fixed assets
Depreciation of Right-of-use
Amortization of Jupiter development
Others
OMDA

634
607
287
320
27
22
1,083

769
609
290
319
160
22
1,430

626
626
289
337
1,556

626
626
289
337
1,802

% External Revenue

10.9%

14.0%

14.4%

15.8%

Lease payments
OMDA pre-IFRS 16

(329)
754

(328)
1,102

(347)
1,209

(347)
1,455

% External Revenue

7.6%

10.8%

11.2%

12.7%

Capex
Capitalized expenditure
Jupiter development
1
Change in working capital
Cash flow from operations

(483)
(295)
(188)
59
330

(240)
(240)
(171)
692

(196)
(196)
99
1,112

(221)
(221)
(143)
1,091

% OMDA

30.5%

48.4%

71.5%

60.6%

Restructuring, Rationalization, Integration
Other cash items (mainly PRC)
Free Cash Flow before interest and taxes

(136)
(207)
(13)

(309)
(181)
202

(187)
(137)
788

(116)
(93)
883

% OMDA

(1.2%)

14.1%

50.6%

49.0%

Interest and taxes

(220)

(353)

(383)

(379)

Separation and acquisition related costs

(158)

(50)

-

-

(Increase) / decrease in net debt

(391)

(202)

405

504

Growth (%)

2

33| 08-04-2024 | © Atos

Notes: 1.. €1.8bn working capital actions taken in Dec. 2023 not reflected in change in working capital. Assuming no working capital actions from FY2024 onward.
2. Including 7% interest rate on negative liquidity position

Agenda1.

Situation update

2.

Atos strategic overview and business outlook

3.

Refinancing framework4.

Timetable and next steps

Cash flows and liquidity overview
P&L, Cash-Flow and Balance Sheet items (€m)

Net leverage evolution€m, FYE Dec.

2024e

2025e

2026e

2027e

External Revenue

9,900

10,182

10,817

11,420

OMDA

1,083

1,430

1,556

1,802

- Lease payments

(329)

(328)

(347)

(347)

OMDA pre-IFRS 16

754

1,102

1,209

1,455

- Capex

(295)

(240)

(196)

(221)

- Capex Jupiter development

(188)

-

-

-

59

(171)

99

(143)

- Change in working capital 1
Cash flow from operations

330

692

1,112

1,091

- Restructuring Rationalization Integration

(136)

(309)

(187)

(116)

- Other cash items (mainly PRC)

(207)

(181)

(137)

(93)

Unlevered free cash flow

(13)

202

788

883

- Interests and taxes
2- Interests paid

(220)

(353)

(383)

(379)

-

(168)

(258)

(211)

- Separation and acquisition related costs

(158)

(50)

-

-

(Increase) / decrease in net debt

(391)

(202)

405

504

Net debt 1

4,455

4,657

4,252

3,748

Calculated as Net debt / EBITDA pre-IFRS163

6.5x

7.5x

6.2x
4.4x
3.0x
3.0x

2023a

2024e

1

2025e

1

2.9x
2.0x
2.0x

2026e

1

BB threshold

2027e

1

Debt repayment profile4 (€m)
Existing bonds (incl. MTN)
29/07/2024: First
extended TLA maturity
RCF
date
1,500 29/01/2025: Second
extended TLA maturity
Term Loan A
date
900
RCF fully drawn
800
750
in Jan-24
500
350
50
Jul.
2024

Nov. Jan.
2024 2025

May
2025

Nov.
2025

Apr.
2026

Nov.
2028

Notes: 1. Net debt figures include €1.8bn working capital actions taken in Dec. 2023, not reflected in change in working capital. Assuming no working capital actions from FY2024 onward
2. Including 7% interest rate on negative liquidity position 3. Computed as OMDA pre-IFRS16 minus anticipated RRI costs and Other changes 4. Assuming TLA second extension option exercised35| 08-04-2024 | © Atos

Nov.
2029

Agreement in principle on interim short-term financing➢ €400 million facilities agreed in principle with a group of banks and a group of bondholders:• €300 million factoring facility provided by the group of banks• €100 million secured facility provided by the group of bondholders➢ €50 million facility from the French State to a subsidiary of Atos, Bull SAS, which controls sovereign
sensitive activities• Agreement in principle with the French State, providing contractual protections and rights on
sensitive activities• Subject to waiver from banking group36| 08-04-2024 | © Atos

Refinancing framework
Implications

1➢ Insufficient liquidity to cover negative cash-flow from operations in 2024 and 2025
New money needs

2
Upcoming
Maturities➢ Maturity wall in 24/25 with €3.7bn of debt maturing by the end of 2025

ExcessLeverage➢ High leverage ratios not consistent with BB credit profile

3

37➢ Need for additional flexibility to cover intra-year working capital fluctuations andrequired guarantees to operate in the normal course| 08-04-2024 | © Atos

➢ Atos is not in position to refinance its maturing debt given credit profile➢ Unsustainable capital structure materially impairs Atos’ counterparty credit worthiness

Fully fund the BP

Maturity extension

Debt reductionRefinancing framework – objectives
1

2

Protect social
interest of theCompany➢ Focus on employees, clients, suppliers, shareholders, and other stakeholders

Secureoperational
stability➢ Ensure business continuity of the Group and its long-term sustainability

3 Ensure ample

4➢ Preserve the strategic interests of the French State➢ Reassure clients, employees and suppliers on Atos’ counterparty credit worthinessliquidity to
execute theGroup’s businessplan➢ Provide adequate time to implement Atos’ strategic plan and deliver results

Establish asustainable
capital structure➢ Align capital structure with Company’s future cash flow generation

Regain a BB
credit rating
profile by 2026

➢ Consistent with Atos’ quality of assets

538| 08-04-2024 | © Atos

➢ Have a fully funded business plan over the 2024-2027 period➢ Implement a debt structure which will support future successful refinancing➢ Enhance access to capital markets

Refinancing framework – key parameters
Based on its current perimeter (no disposal)
1➢ €600m new money debt and / or equity, consistent with the minimum cash requirement
at all time of €700m to operate normally

Secured liquidity

And➢ Secure €300m RCF for additional financial flexibility and €300m in bank guarantees tosupport the business

Request as part ofrefinancing

2
Debt reduction➢ Consistent with a deleveraging trajectory allowing to match with a BB credit profile in 2026:
below 3.0x leverage by year end 2025 and 2.0x leverage by year end 2026
➢ Debt reduction of €2.4bn would the €600m new money be provided by a new debt

3
Maturity extension

39| 08-04-2024 | © Atos

➢ Residual debt extended 5 years

Indicative Terms of the New Money

Purpose➢ General Corporate purposes, notably to fund operational needs exteriorized by the BP

Amount➢ €1.2bn➢ €600m debt (possibly including receivable-backed financing), equity or a combination of both type of financing instruments
Structure➢ €300m RCF or Receivable-backed WCF for additional financial flexibility➢ €300m in bank guarantees to support the business

ProvidingParties40| 08-04-2024 | © Atos

➢ Opened to all existing stakeholders of Atos S.E and to third party investors‒

Priority given to Atos S.E stakeholders proposals provided their terms are at least equivalent or better than third party
proposals

Agenda1.

Situation update

2.

Atos strategic overview and business outlook

3.

Refinancing framework4.

Timetable and next steps

Proposed Timetable
1st Half April

2nd Half April

May

June

July

H2-24

8-Apr:
Meeting with creditors

IBR review and due diligence

Refinancing
Process

42| 08-04-2024 | © Atos▪
▪

RfP process
New Money process

Negotiation

26-Apr:Long-term funding &debt reduction proposals
to be received

Agreement
withstakeholders

Lock-upagreements

15-Jun:Deadline to reachan agreement

IMPLEMENTATION

12-Jul:Lock-up agreements to besigned by 12 July

Closing remarks•

Atos is a recognized leader in the IT business, with unique and differentiated assets•

Atos presented a clear strategy for the Group and its two businesses Eviden and Tech Foundations, which
delivers c.€11.4 bn revenue, c.10% operating margin and c.€0.5 bn free cash flow in 2027•

Atos presented the parameters of its refinancing framework based on its full business perimeter of Tech
Foundations and Eviden•

The Company will evaluate proposals submitted from existing stakeholders of Atos SE and third-party investors by
the April 26, 2024 deadline. A global refinancing agreement will trigger significant dilution of existing
shareholders.

•

Atos is targeting to reach a refinancing agreement with its financial creditors by July 2024•

An agreement in-principle was reached with a group of banks and bondholders and with the French State on aninterim financing of €450 million that will provide additional liquidity to fund operations and invest in thebusiness until a global refinancing plan is reached43| 08-04-2024 | © Atos

Q&A
Atos is a registered trademark of Atos SE. February 2024. © 2024 Atos. Confidential
information owned by Atos, 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.

© AtosThank you!
For more information please contact:
David Pierre-Kahn – Head of Investor Relations
david.pierre-kahn@atos.net
M+ 33 6 28 51 45 96

Atos is a registered trademark of Atos SE. February 2024. © 2024 Atos. Confidential
information owned by Atos, 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.

© Atos