ID card & SIX strategic partnership. 1 Worldline Q Results Worldline

Transcription

1 ID card & SIX strategic partnership 1 Worldline Q Results Worldline

2 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 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 Worldline beliefs and expectations and should be evaluated as such. Forward-looking statements include statements that may relate to Worldline 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 the 2017 Registration Document filed with the Autorité des Marchés Financiers (AMF) on March 21, 2018 under the filling number: D , and its update filed with the AMF on August 1, 2018 under the registration number: D A01. Worldline 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. Revenue organic growth and OMDA are presented at constant scope and exchange rates, and restated for the impacts of IFRS objectives have been considered with exchange rates as of December 31, Worldline Q Results Worldline

3 Disclaimer The Forrester Wave is copyrighted by Forrester Research, Inc. Forrester and Forrester Wave are trademarks of Forrester Research, Inc. The Forrester Wave is a graphical representation of Forrester's call on a market and is plotted using a detailed spreadsheet with exposed scores, weightings, and comments. Forrester does not endorse any vendor, product, or service depicted in the Forrester Wave. Information is based on best available resources. Opinions reflect judgment at the time and are subject to change. Finally, please confirm that this slide will only be used in live presentations, and that it won't be used in a comparative/negative context against other companies. Global Business Lines include Merchant Services (in Argentina, Belgium, Brazil, Czech republic, France, Germany, India, Luxembourg, Malaysia, Poland, Spain, Sweden, The Netherlands, United Kingdom, USA), Financial Services (in Belgium, China, Estonia, Finland, France, Germany, Hong Kong, Indonesia, Italy, Latvia, Lithuania, Luxembourg, Malaysia, Singapore, Spain, Taiwan, The Netherlands and the United Kingdom.), and Mobility & e-transactional Services (in Argentina, Austria, Belgium, Chile, China, France, Germany, Spain, The Netherlands and United Kingdom). This document does not contain or constitute an offer of Worldline s shares for sale or an invitation or inducement to invest in Worldline s shares in France, the United States of America or any other jurisdiction. 3 Worldline Q Results Worldline

4 THIRD QUARTER 2018 Gilles Grapinet CEO Worldline

5 A VERY SOLID THIRD QUARTER Q revenue: 411m +6.3% Perfectly in line with the full year target Strong priority to the successful completion of the SIX closing and the intense integration preparation. Usual monitoring of all potential value creative acquisition opportunities in the medium term in Europe. Continued robust commercial activity: Many mid-size to very large outsourcing opportunities Confirmed market appetite for Worldline s latest innovative offers such as Open payment for transport PSD / Instant Payments 5 Worldline Q Results Worldline

6 Update on SIX Payment Services strategic acquisition: Combined General Meeting of shareholders convened for November 30, 2018 Day-1 Readiness pre-integration program well on track Reminder of the key features of the strategic partnership signed on May 15, 2018: Worldline to acquire SIX Payment Services (SPS), one of the largest payment service providers in Europe and the DACH region payment champion, for 2.3bn. SIX to become a 27% shareholder of Worldline, with Atos retaining a majority stake of 51% in Worldline. A fundamental transformation of Worldline s activity leading to a size increase of c.+30%. Very significant synergies ( 110m expected by 2022) leading to an accretive transaction on EPS* as soon as 2019 Closing of the transaction on track: Antitrust and regulation approvals Workers Council information and consultation process General Shareholders Meeting convened November 30, 2018 All pre-integration streams defined and launched *: Earnings per share, after synergy implementation costs and before PPA amortization 6 Worldline Q Results Worldline

7 ALL 2018 OBJECTIVES CONFIRMED (these 2018 objectives do not include any impact from SIX Payment Services) REVENUE Between 5% and 7% organic growth for the full year OMDA Between 22% and 23% FREE CASH FLOW Between 200 million and 210 million 7 Worldline Q Results Worldline

8 THIRD QUARTER 2018 Eric Heurtaux CFO Worldline

9 Constant scope and exchange rate figures reconciliation Revenue In million Q IFRS 15 Internal transfers Scope effects Exchange rates effects Q3 2017* Merchant Services Financial Services Mobility & e-transactional Services Worldline * At constant scope and Sept 2018 YTD average exchange rates, restated for IFRS 15 9 Worldline Q Results Worldline

10 Q Revenue performance by Global Business Line Revenue In million Q Q3 2017* % Organic Growth Merchant Services % Financial Services % Mobility & e-transactional Services % Worldline % * At constant scope and Sept 2018 YTD average exchange rates, restated for IFRS % Merchant Services 19.4% Mobility & e-transactional Services 45.9% Financial Services 10 Worldline Q Results Worldline

11 Q Revenue performance by Global Business Line Merchant Financial +4.7%* Services +7.4%* Services +6.5%* Mobility & e-transactional Services Merchant Payment Services Positive impacts from change in product mix Good volumes in India Strong growth in number of transactions in the Netherlands and Central Europe Temporary slow down of payment terminal services (product range changes). Merchant Digital Services Slight growth thanks to Digital Retail projects in the United Kingdom Issuing Processing: increased volume of card transactions and strong increase in authentication services (ACS, 3D Secure); Accounts Payments: strong growth thanks to good SEPA payment transaction volumes, strong volume growth on ideal scheme, project and non-recurring activities for instant and SWIFT payments. Acquiring Processing: more authorization volume and projects. Digital Retail roughly stable with the start of new digital banking projects and projects related to Access to Account (PSD2) *: at constant scope and September 2018 YTD exchange rates, restated for IFRS 15 Trusted Digitization: Good activity with government agencies and in healthcare transactional services Various implementations of Worldline Track & Trace solutions in the context of the EU Tobacco Product Directive e-consumer & Mobility: Implementations of Worldline Contact for large French banks; e-ticketing: Ramp up of Worldline Tap2Use contracts in France; Good business trends in Latin America, Lower project revenue in the UK. 11 Worldline Q Results Worldline

12 September 2018 YTD revenue by Global Business Line Revenue In million Sep YTD 2018 Sep YTD 2017* % Organic Growth Merchant Services % Financial Services % Mobility & e-transactional Services % Worldline 1, , % * At constant scope and Sept 2018 YTD average exchange rates, restated for IFRS % Merchant Services 19.5% Mobility & e-transactional Services 45.5% Financial Services 12 Worldline Q Results Worldline

13 September 2018 YTD revenue by Global Business Line Merchant Financial +4.5%* Services +7.3%* Services +5.3%* Mobility & e-transactional Services Strong momentum in Merchant Payment Services: Strong revenue growth in Continental Europe: higher volumes of online acquiring and positive price and volume effects in other European countries; Double digit growth in India; Despite commercial success of VALINA, temporary slowdown of Payment Terminal. Slight growth in Merchant Digital Services. Growth in all 4 business lines, fueled by high project activities: Issuing and Acquiring Processing supported by good volume growth combined with high project activity; Account payments benefited from strong volume growth and strong project activity for Instant Payments and SWIFT payments; Recognition of a large software license revenue; Digital Banking growth sustained by project activities Double digit growth in Trusted Digitization: strong momentum in France thanks to new contracts signed in 2017; favorable business trends in Latin America; Growth in e-consumer & Mobility fueled by Connected Living activities in Germany and in Iberia and WL Contact platform implementation projects in France; Despite good business growth in Latin America, significant decrease in e-ticketing revenue, impacted by lower project revenue in the United Kingdom. *: at constant scope and September 2018 YTD exchange rates, restated for IFRS Worldline Q Results Worldline

14 THIRD QUARTER 2018 Marc-Henri Desportes Deputy CEO Worldline

15 Progressing on SIX Payment Services integration readiness Using Worldline integration know-how and methods Program to prepare day 1 readiness on track for Q4 closing 22 integration preparation streams 10 business streams 9 functional streams 3 strategic projects Supported by a dedicated organization Amount of identified synergies confirmed Organizational blueprint designed Day 1 readiness ensured Regular Joint committee to oversee integration preparation 15 Worldline Q Results Worldline

16 OBSERVATIONS ON LATEST BUSINESS TRENDS Good acquiring transaction volume in Europe and the rest of the world (+9% like-for-like) in an overall dynamic market Fast growth of alternative payment methods such as ideal transactions in the Netherlands: +39% Strong increase in mobile payment platforms with +80% e-wallet payment transactions Confirmed success of payment security offers such as Trusted Authentication and ACS (altogether +32%) driven by overall remote payment expansion 16 Worldline Q Results Worldline

17 Merchant Services Key achievements & business update MAIN Q SIGNINGS Financial Services Key achievements & business update Mobility & e-transactional Services Key achievements & business update Online payments: Fast materialization of the commercial synergies with DRWP acquired in 2017, in particular in Travel with end-to-end online e- commerce solutions sold to: FASTBOOKING (4,500 hotels, 90 countries) HoltelsPro (40 offices) Renewal of Worldline India contract with Axis Bank Significant orders received for the VALINA unattended payment terminal, in particular from SV365 in the UK Worldline s Trusted Authentication solution sold to 4 new European banks PSD2 compliant Worldline Digital Banking Platform being implemented for 16 banks to date Instant payments: Diamis s CRISTAL software sold to Banco BPM KNAB bank to use Worldline s instant payment clearing & settlement systems and back-office processing 18 contracts signed to date Including 8 new contracts signed in Q In econsumer & Mobility, Worldline omni-channel consumer engagement platform Contact sold to an insurance company in the UK and to a major French bank. In e-ticketing, Mobile point-of-sale sold to a large UK rail franchise. Dijon Tap2Use open payment solution extended from tramways to bus lines. Worldline Track & Trace solution successfully sold as part of the rollout of the EU Tobacco Product Directive. 17 Worldline Q Results Worldline

18 CONCRETE EXAMPLES of successful online developments following the acquisition of DRWP end of 2017 Full Service Worldline Online Payment Acceptance covering gateway & commercial acquiring End-to-end online payment solution Maximum payment methods Like-for-like settlement currencies 4,500 hotels 23,000 travel agents 90+ countries 40 offices 18 Worldline Q Results Worldline

19 VALINA First all-in-one device merging vertical business applications and payment functionalities All-in-one User-Friendly Android device Low Cost of ownership Small footprint Easy integration indoors & outdoors Device already live in the UK, in Belgium and in the Netherlands and very promising pipeline of commercial opportunities Creating value for a broad range of use cases through open Android app. ecosystem Vending machines Shared public transport infrastructures Carwash Luxury products (Tiffany) Kiosks Heasy (retail oriented robot with payment capabilities) Energy ecar charger epump & Wallet Transport In trains, trams Parking With partners 19 Worldline Q Results Worldline

20 Merchant Services AWARDS & RECOGNITION Financial Services Mobility & e-transactional Services Worldline, ranked as a Strong Performer in The Forrester Wave : Global Merchant Payment Providers, Q (1) E-BANKING & M-BANKING CATEGORY WL Digital Customer Onboarding CYBERSECURITE CATEGORY WL Mobile Intrusion Protection NEO-BANQUES CATEGORY WL 1-Click Card Issuing Processing Evolved blockchain vision and client engagement model Mature agricultural product tracking solution Worldline in the TOP 1% companies the most involved in CSR topics 3 rd year 20 Worldline Q Results Worldline (1): Please refer to the disclaimer on page 3

21 FIRST WORLDLINE E-PAYMENTS CHALLENGE 48h of co-innovation with Fintechs and our clients 7 clients 15 Fintechs 12 Worldline assets & APIs open innovation challenges Seamless in-store payment experience Reinvent the loyalty management interface Seamless guest consumption experience Community payments Ultrasound Payments Bluetooth & Loyalty Management Platform Facial Recognition Community Payments 5 Direct carrier billing revolution Instant Payments 6 Explore the potential of charge cards Consumer Credit Platform 7 Digitized fleet cards management Ultrasound Payments 8 B2B e-commerce payments Velvet Blockchain based Escrow Services 21 Worldline Q Results Worldline

22 THIRD QUARTER 2018 Gilles Grapinet CEO Worldline

23 Q KEY TAKEAWAYS Very solid Q revenue growth, in line with Company s full-year objectives All 2018 objectives confirmed After 5 months of market feedback, recognition of the SIX Payment Services and Worldline merger as: A game changing combination for cross border acquiring A clear proof point of the market consolidation acceleration A step change for the Merchant Services business of Worldline. Pre integration of SIX Payment Services within Worldline fully on track 23 Worldline Q Results Worldline

24 UPDATE ON WORLDLINE

25 Our story 1st historical contract for the processing of card-based banking of the Carte Bleue Group Integration of Banksys & Bank Card Company (BCC) in Belgium Becomes European leader in payments services, in anticipation of European issues related to SEPA + Belgium Acquisition of Venture Infotek Entry into fast growing Indian payment market. Keeps progressing to establish itself in Asia-Pacific + India, China, Hong Kong, Indonesia, Malaysia, Singapore & Taïwan Initial Public Offering On June 27, 2014, Worldline went public on the Euronext Paris regulated market (Compartment A) Birth of equensworldline and KB Smartpay Worldline announced the creation of equensworldline and the acquisition of PaySquare and a major alliance with Komerční banka for commercial acquiring services & solutions Strategic partnership between Worldline and SIX consolidating European payments Worldline to acquire SIX Payment Services Creation of Atos Worldline Merger of the activities of Atos Origin Group in payment services and e services. Confirms leadership in critical transactional services. Major footprint in France & Germany Launch of HTTS development strategy Business model extended to Spain, UK and Asia Birth of Worldline On July 1st, 2013, Atos announced the carve-out of all its payment and transactional services activities into a unique entity, called Worldline + Ireland, Spain, UK, Argentina & Chile Equens transaction project On November 3, 2015, signing of a Memorandum of Understanding between Worldline and Equens Acquisition of: First Data Baltics Digital River World Payments MRL PosNet Diamis 25

26 2017 REPORTED KEY FIGURES m +4.0% organic +6.3%in H m 21.0% +240 bp 176.0m +28.9% vs m Revenue OMDA Free Cash Flow Net cash 26

27 Presentation of the Worldline Group (FY 2017) 27

28 Substantial improvement of Worldline s financial profile since the IPO Revenue expansion OMDA Free Cash Flow c.+40% 1.1bn 1.1bn c.1.2bn 1.3bn 1.6bn 204m c.+65% 215m 235m 258m 335m 21.0% c.+75% 100m 114m 129m 140m 176m 18.2% 2013 (1) e 2013 (1) e 2013 (1) e Same number of shares: c. 133 million Net cash position: 309m end of Dec

29 Through a first wave of M&A, more scale, reach and capability New! 2017 Industrial scale Baltics Reinforcement of our portfolio Global online payment New technologies Bank alliances for Commercial Acquiring Strengthen our European position Enter higher growth countries c. 330m invested since IPO 29

30 VISION AND STRATEGY EXECUTION

31 Our market is more favorable than 3 years ago Cashless society is on its way Increased need of industrial scale to face payment market evolutions Banks will remain the key player within the payment ecosystem Europe is the place to be and Worldline is ideally positioned to benefit from it 31

32 NUMBER OF NON-CASH PAYMENT TRANSACTIONS PER CAPITA AND PER YEAR IN EUROPE (2016) (1) NON-CASH TRANSACTIONS IN EUROPE (IN BILLION TRANSACTIONS) (3) GLOBAL GROWTH FORECAST FOR MOBILE PAYMENTS TRANSACTIONS (IN MILLIONS) (2) Sources: (1) European Central Bank (ECB) statistical data warehouse (2) Ovum Mobile Payments Forecast (3) A.T. Kearney- Worldline Cashing H1 In on 2018 Cashless Results Commerce Worldline (2016).

33 Payment Market continues to experience solid volume growth and outsourcing forces Consistent growth in card payments volume in Western Europe as well as in CEE/Asia Technological pressure and diversification of payment means (e.g. instant payments) PSD 2 disruption in Europe e-payment trends For merchants Solutions with European reach Omni-channel Technological innovations Payment means diversity For banks Banks payments in a squeeze: rising compliance costs and price pressure Strategic dilemma around PSD2 Expected increase of divestments / partnerships Will to focus on digital strategy and differentiating offers / solutions 33

34 Worldline benefits from the strong positive momentum of the European payment market IoT/M2M Loyalty Contact Data analytics Beyond payments, IoT & digital platforms Mobile payments Digital Payments Digitization eidentity eticketing Online Banking epayment Fraud Risk Management services Online payments Authentication Cashless trends Cards transactions volumes growth (Issuing & acquiring processing) Interbank and Intrabank payment processing 34

35 Our strategy: 6 key dimensions for differentiation and leverage Scalable own assets, fueled by our R&D Multiple sales channels including bank partnerships Competitive advantage through relentless efficiency efforts and scale Continuously upgrade our quality and security levels Investing in people s expertise and excellence M&A execution as a booster for strategy execution 35

36 A clear ambition Five strategic priorities 36

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38 WORLDLINE WAS LISTED TO BE AT THE CENTER OF THE CONSOLIDATION OF EUROPEAN PAYMENTS T O D A Y A C O M P R E H E N S I V E G R O W T H S T R A T E G Y W O R L D L I N E & S P S T O G E T H E R Solid track record since IPO After the merger with Equens and 6 other acquisitions, the only truly pan-european processing platform Strong balance sheet and significant firepower Clear strategy and industrial consolidation ambition Robust organic development through Acceleration of organic growth Enhanced profitability through efficiency gains Strong free cash flow generation A focus on M&A to support our strong industrial ambition in payments To take advantage of the new creation of the Euro and of the SEPA; Enabled by a strong balance sheet; Backed by Atos know-how A unique European positioning Size and scale Technology focus on security and next-generation payments Coverage of entire payment value chain 38 38

39 SIX PAYMENT SERVICES (SPS) one of the largest payment service providers in Europe and the DACH* payment champion M E R C H A N T S E R V I C E S F I N A N C I A L S E R V I C E S c. 430m 2019e net** revenue 9 Key countries c. 530m 2019e net** revenue c. 20% OMDA number of staff c. 1,600 c. 100m 2019e net revenue 6 Key countries *: Germany, Austria, Switzerland **: net of bank interchange fees 1 EUR = CHF 39 Worldline

40 SIX PAYMENT SERVICES (SPS): ONE OF THE LARGEST PAYMENT SERVICE PROVIDERS IN EUROPE AND THE DACH PAYMENT CHAMPION Historical leader in its home market in Switzerland Successful business which has grown through organic and inorganic developments In particular, recent acceleration in H with two very recent additions in H in Germany (VOB) and in Switzerland (Aduno) 7% 7% 10% 13% 13% 50% Switzerland Austria Luxembourg Germany ecommerce Other Acquisition of Increased Stake in Acquisition of girocard network of Acquisition of the acquiring / terminal activity of Financial services 19% September 2013 April 2014 July 2017 August 2017 N 1 commercial acquiring market positions in Switzerland, Austria and Luxembourg. Significant presence in Germany. Very experienced and international management team lead by Marc Schluep, SPS CEO Merchant Services 81% 40 Worldline

41 KEY FEATURES OF THE TRANSACTION 1 Worldline to acquire SIX Payment Services (SPS), one of the largest payment service providers in Europe and the DACH region payment champion. 2 A fundamental transformation of Worldline s activity leading to a size increase of c.+30%. 3 Transaction based on an enterprise value of 2,303 million* (CHF 2,750 million) consisting in 49.1 million newly issued Worldline shares and a cash consideration of 283 million* (CHF 338 million) Very significant synergies leading to an accretive transaction on EPS** as soon as 2019 Closing to be completed in Q and consolidation expected from of January 1, 2019 Thanks to the transaction structure, Worldline preserves a strong balance sheet enabling to remain an active player in the European payment consolidation. *: 1 EUR = CHF **: Earnings per share, after synergy implementation costs and before PPA amortization

42 WORLDLINE SHAREHOLDING STRUCTURE & GOVERNANCE POST TRANSACTION 49.1 million of new shares million in cash against SIX Payments Services contribution into Worldline Worldline Board of Directors enlarged from 9 members to 12 members and 1 censor, of which: 2 new Board Members and 1 censor proposed by SIX Group; and 1 new independent Director Corporate governance adapted with SIX representatives in each committee 42 42

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44 WORLDLINE TO ACQUIRE SIX PAYMENT SERVICES TO CREATE A PAN-EUROPEAN PAYMENT POWERHOUSE 1 The scope of the transaction covers: Merchant services (81% of 2019e net revenue): all SPS Merchant Services activities; Financial Services (19% of 2019e net revenue): all Financial Services activities outside of Switzerland and in Switzerland through SIX The +30% size increase of the Worldline Group thanks to the combination with SIX Payment services comes from c.+65% in Merchant Services and c.+12% in Financial Services. Major rebalancing of Worldline European geographic presence, thanks to the acquisition of many new leading positions in the DACH region. A quantum leap allowing establishing Worldline as the n 1 non-bank acquiring platform in Continental Europe. Through additional scale, massive value creation opportunity with total estimated annual run-rate OMDA synergies of 110 million

45 A TRANSACTION THAT REDEFINES THE EUROPEAN PAYMENT INDUSTRY Worldline + SIX = The Undisputed Pan-European Leader Independent PSPs Net Revenue in Europe (1) In m / #1 10% Market Share in Commercial Acquiring (3) #1 20% Market Share in Financial Processing (4) / + (2) (3) #3 European (2) e-com. PSP (5) (3) = 2019e combined revenue of c. 2.3bn 1 EUR = CHF (1) Latest available (converted at respective current FX rate). (2) Worldline s estimates. (3) Figures from B+S Card Service only. (3) in continental Europe excl. Russia source: BCG (4) in number of transactions processed in UE source: ECB (5) online acceptance in number of transactions source: Nilson Report 2017; company information and BCG analysis

46 UNIQUE GEOGRAPHIC FOOTPRINT With leadership positions in all the key continental European countries Market leader positions in: Leadership position Other presence Austria Baltics Belgium Czech Republic France Germany Luxemburg Switzerland The Netherlands Perfect geographic match Only player truly able to deliver a continental platform 46 46

47 A UNIQUELY DIVERSIFIED BUSINESS PROFILE with a mix rebalanced towards merchant services = 2019e combined net revenue of c. 2.3bn UK 5% Other Europe 7% Switzerland 13% Germany / Austria / CEE 19% Emerging Markets 8% France 19% Belux 20% Netherlands 9% Mobility & e-transactional 15% c. 0.9bn Financial Services 39% c. 0.4bn > 1.0bn Merchant Services 46% Major rebalancing of Worldline s geographies (1) New Business Profile(2) 1 EUR = CHF (1) Based on 2017A Financials. (2) Based on 2019e combined revenue 47 Worldline

48 A QUANTUM LEAP POSITIONING WORLDLINE AS THE N 1 non-bank acquiring platform in Continental Europe c. +65% c. 0.6bn c. 0.4bn > 1bn 2019e Worldline Merchant Services revenue SIX 2019e Merchant Services revenue 2019e Worldline + SIX proforma revenue in Merchant Services c.+30% in Worldline revenue size c.+65% growth in Merchant Services Out of which +110% growth in Commercial Acquiring activities #1 position in Merchant Services in Continental Europe 48 48

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50 CREATING THE UNDISPUTED EUROPEAN LEADER IN PAYMENT SERVICES Scale c. 94 bn Merchant Service Value (MSV) c. 100 m card managed c. 860 m e-com trx c. CHF 95bn MSV c. 24 m card managed c. 50 m e-com trx c. 180 bn Merchant Service Value >120 m card managed >900 m e-com trx Reach 200,000+ merchants 250+ financial institutions #1 EU Financial processor Leading Merchant Service provider 210,000+ merchants 180+ financial institutions #1 PSP in Switzerland, Austria and Luxembourg >410,000 merchants >300 financial institutions #1 Financial processor in Europe #1 non-bank Merchant Acquirer in Continental Europe Capabilities >9,400 employees Commercial acquiring E-com & Omni-channel Global collecting Digital retail Terminal services 1,600 staff Mobile schemes (TWINT, Alipay) SMB e-com. self care > 11,000 staff Full coverage of merchants and financial institutions needs : Channels; products; processes; and pan-european reach 50 50

51 An undisputed leader in Merchant Services #1 Merchant Services Provider in Europe, boosting growth beyond home markets through bank alliances, partnerships and acquisitions Multiple complementarities between SPS and Worldline (including benefits from experience in verticals, complementary application landscape, e-commerce portfolio) and complementary regional leadership Leverage the top 3 e-commerce and omni-channel PSP position in Europe to grow combining global acceptance, collecting and omni-channel capabilities and leverage the full scale benefits from a solid acquiring back-office Achieve superior merchants win rate and retention and create value with the most complete Products & Services portfolio in market Be first with one unified European largest scale acquiring system, meeting global merchants needs at superior margins The strongest global Merchant Services organization, uniquely positioned to meet the local (e.g. domestic schemes, services proximity, banks products) and global (e.g. multi-countries, centralized services & payments) needs 51 51

52 STRONG DEVELOPMENT PERSPECTIVES OF COMMERCIAL ACQUIRING IN GERMANY Leverage SPS, VÖB, and Worldline to win market share over current market leaders With a full acceptance to acquiring integrated service offer, differentiating on the market Est. 6% Market share In 2019 In a market boosted by the fast card/ e-payment catch-up versus cash payments Est. #4 Acquirer Explore opportunities to create new bank alliances Objective to become #3 in the market with a market share above 15% by

53 REINFORCING WORLDLINE S EUROPEAN LEADERSHIP IN FINANCIAL SERVICES Win new outsourcing deals, unlocking new geographies Leverage an undisputed complete portfolio in issuing processing Formation of highly complementary scheme-licensing solutions and overall large number of cross-selling opportunities Share development efforts on common investment topics Create a successful partnership with SIX Group to serve Swiss Banks well on the long term 53 53

54 A STRONG AND SECURE SYNERGY PLAN OMDA in m c.15% c.5% c. 110 million OMDA savings in 2022 c.25% delivered in 2019 c.50% in 2020 c.25% c.15% c.12% 87 Synergy implementation costs estimated at c. 110 million, on top of pre-closing costs of million c.27% Enhance IT efficiency Optimize G&A Extract value from largest EU payment platforms Optimize sales and customer support footprint Revenue synergies in Merchant Services Revenue synergies in Financial processing Total synergies Execution secured by alignment on synergy nature and level c.5% of combined cost base 54 54

55 ROBUST EXECUTION METHODOLOGY Relying on 5 Key Principles Structured joint governance involving managers from both sides in decision-making and delivery Project organization mirroring new entity organization with clear and non overlapping objectives Mixed teams on the ground with business and project staff, backed by experienced integration partners Strong manager accountability through alignment of scorecards with management top and bottom-line objectives COLLABORATIVE APPROACH INVOLVING MANAGERS FROM BOTH SIDES IN BUSINESS PLAN PREPARATION & EXECUTION TIGHT MANAGEMENT CULTURE MITIGATING EXECUTION RISK STRONG AND MOTIVATING LONG-TERM INCENTIVE EQUITY-BASED PLAN 5 Rigorous process with active monitoring of target execution & transversal support maximizing anticipation ANNOUNCED EQUENS SYNERGIES OVERPERFORMED Prepare as of signing, ready at closing 55

56 CREATING A LONG STANDING PARTNERSHIP with SIX Group and the Swiss Banking Community Long-term partner for the Swiss banking industry A governance supporting the strategic alliance and designed to fully support the Swiss banking community priorities and strategic agenda in payments Servicing the whole Swiss banking community through and with SIX via a 10 year long-term contract Becoming a new strategic shareholder of TWINT (Next-Gen Bank owned Mobile and P2P payment scheme and solution) and committed to support operationally a faster scale up Secondary Switzerland listing envisaged 56 56

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58 KEY TRANSACTION TERMS & VALUE CREATION Consideration & Structure Additional items Total consideration of 2,303m 49.1m of new Worldline shares representing 27% of share capital 283m in cash Implied estimated 2019 OMDA multiple of c.17.5x post synergies Implied estimated 2019 OMDA multiple c.11.0x post run rate synergies Agreement also includes a mechanism to potentially compensate SIX up to 139m in Q depending on Worldline value creation by then. 46m paid for specific identified assets (deferred payment related to the Visa Europe Share and tax losses carried forward in Luxemburg) Partnership Transaction comprises 10 year contract with SIX to deliver services for the Swiss market Worldline undertaking to become 20% shareholder in TWINT ( 25m investment) Financial Impact Highly value creative with run-rate synergies of 110m Slightly positive to earnings in 2019 and highly accretive from 2020 onwards (post synergy implementation costs and pre-ppa amortization) Intact financial firepower estimated at 2bn end of 2019 Est. net cash position of c. 150m at end of 2018 (subject to additional acquisitions in 2018) Timing Closing to be completed in Q Consolidation expected from January 1, *: 1 EUR = CHF

59 CONTEMPLATED TIMELINE Q Q Q Q Extraordinary General Meeting for approval new Worldline shares issuance 14~15 May 2018 Signing & Transaction Announcement Q2 > Q Anti-trust and regulatory approvals Finalization of the carve out of SPS from SIX Q Equity Issuance & Closing 59 59

60 IMPACT ON WORLDLINE FINANCIAL PROFILE Impact on revenue growth Current growth consistent with Worldline s profile Rebalancing towards Merchant Services contributing to the revenue growth acceleration thanks to the new business mix Impact on OMDA Worldline 2019 OMDA% guidance of above 23% maintained thanks to SPS profitability associated with fast implementation of synergies Significant margin upside with run-rate synergies of c. 110m at OMDA level in 2022, out of which c.25% in 2019 and c.50% in 2020 Synergies implementation costs amounting to 110m Impact on Free Cash Flow Impact on EPS SPS cash generation estimated in line with Worldline s cash conversion ratio (FCF/OMDA ratio) Capex expected to remain between 5-6% of revenue Transaction expected to be slightly accretive in 2019 High single digit EPS accretion expected in 2020 Double digit EPS accretion expected from 2021 onwards (post synergy implementation costs and pre-ppa amortization) 60 60

61 TRANSACTION STRUCTURE PRESERVES FIREPOWER Mid-term leverage target of 1.5x to 2.5x net debt/ebitda Financing capacity available at the end of 2018 Additional financing capacity over 2019 Additional financing capacity over c. 1.6bn c. 1.2bn c. 0.6bn Dec-17 net cash position Cash out 2.5x 2018ePF OMDA 2018e FCF 2.5x OMDA Dec-18 generation from financing potential capacity new (1) acquisitions 2019e FCF 2.5x 2019e vs. 2018e OMDA (1) improvement 2019e additional financial capacity e FCF 2.5x 2021e vs. 2019e OMDA (1) improvement 2021e additional financial capacity 61 Estimated M&A firepower of more than 2bn by the end of 2019 without capital increase to further consolidate the European payment market Note: (1) Worldline Max leverage H Results Worldline 61

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63 COMBINATION OF WORLDLINE AND SPS: Redefining the European Payments Industry THE PAN-EUROPEAN PAYMENTS POWERHOUSE WITH UNRIVALLED SCALE AND SPAN > > > The industry-defining leader with unique scale, benefitting from massive cost advantage and innovation superiority Intact firepower to play a prominent role in the upcoming regional consolidation Perfect geographic match with complementary #1 positions in France and BeNeLux and leadership in the DACH region ESTABLISHING THE REFERENCE PARTNER FOR MERCHANTS AND BANKS, WITH COMPETITIVE EDGE > > > Unparalleled Merchant Services offering across segments, geographic reach and capabilities Unlock further growth opportunities in Financial Services from enhanced scale Cost efficiency backed by the highest scope in processing and IT, supporting competitiveness DELIVERING EXCEPTIONAL LONG-TERM VALUE TO STAKEHOLDERS > > Shared industrial vision supported by clear and ambitious development plans Significant synergy potential thanks to complementarities and costs savings 63 63

64 3-YEAR PLAN INORGANIC GROWTH AMBITION ALREADY ACHIEVED Reminder of the ambition presented as part of Worldline 3-year plan With the SIX Payment Services transaction, M&A ambition ahead of plan while maintaining the acquisition firepower for further developments 64

65 65 Worldline Q Results Worldline