SOMFY - Annual financial report 2018

09 LEGAL DOCUMENTS

09

LEGAL DOCUMENTS

STATUTORY AUDITORS’ REPORT ON THE PARENT COMPANY FINANCIAL STATEMENTS

Our responsibilities under those standards are further described herein in the section “Statutory Auditors’ responsibilities for the audit of the parent company financial statements” of this report.

To the General Meeting of Somfy SA,

OPINION —

INDEPENDENCE

In compliance with the engagement entrusted to us by your General Meeting, we have audited the accompanying parent company financial statements of Somfy SA for the year ended 31 December 2018. In our opinion, the parent company financial statements provide a true and fair view of the assets and liabilities and of the financial position of the company at 31 December 2018 and of the results of its operations for the year then ended in accordance with French accounting principles and methods. The audit opinion expressed above is consistent with the content of our report to the Audit Committee. BASIS FOR OPINION — AUDIT FRAMEWORK We have performed our audit in accordance with professional standards applicable in France. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. The net amount of the equity investments shown on the balance sheet was €365.8 million at 31 December 2018 against total assets of €791.6 million. As indicated in note “D – Equity investments” to the parent company financial statements, the carrying value of these equity investments is determined on the basis of several measurement factors, including net assets at the year-end, the level of profitability and the future outlook or the share price in the case of listed companies. This carrying value is then compared with the net book value, in order to assess the need to record an impairment charge or not. We have considered that the measurement of these equity investments is a key audit point due to their material amount in your company’s financial statements, and because determining their carrying value requires the use of estimates or judgements by Management in determining the carrying value used and the assessment of the market outlook of the entities concerned. MEASUREMENT OF EQUITY INVESTMENTS Risk identified

We conducted our audit engagement in compliance with independence rules applicable to us, for the period from 1 January 2018 to the date of our report and specifically we did not provide any prohibited non-audit services referred to in Article 5(1) of regulation (EU) n° 537/2014 or in the Code of Ethics for Statutory Auditors. JUSTIFICATION OF ASSESSMENTS – KEY AUDIT MATTERS — In accordance with the requirements of Articles L. 823-9 and R. 823-7 of the Commercial Code relating to the justification of our assessments, we inform you of the key audit matters relating to risks of material misstatement which, in our professional judgment, were of most significance in our audit of the parent company financial statements for the financial year just ended, as well as how we addressed those risks. These matters were addressed in the context of our audit of the parent company financial statements as a whole, and in forming our opinion thereon. Accordingly, we do not provide any opinion on specific items of the parent company financial statements. Our work as part of the audit of your company’s parent company financial statements specifically consisted of: reviewing the measurement methods used by Management to – measure the carrying value of the equity investments; assessing, in particular via meetings with Management, the key – data and assumptions on which estimates are based; we have specifically analysed the consistency of forecasts with the past performance and market outlook of the shareholdings concerned; comparing the carrying value of the equity investments with – their net book value and, where applicable, verifying the impairment amount recorded. Our response

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SOMFY – ANNUAL FINANCIAL REPORT 2018