SOLOCAL_Registration Document_2017

FINANCIAL STATEMENTS 6.1 Consolidated financial statements for the years ended 31 December 2016 and 2017

Other commitments received The other significant off-balance-sheet commitments received are as follows:

2017

2016

Contractual obligations

Total

Payments due per period

Total

Less than 1 year

In 1 to 5 years

In more than 5 years

(in thousands of euros) Operation leases – lessor

-

-

-

- - -

-

1

Other services

35,795 35,795

25,250

10,545

6,020 6,020

TOTAL

25,250 10,545.00

The Group did not create any deconsolidation structures during the reporting periods. It has no contractual obligations towards special purpose vehicles.

Special purpose vehicles In 2011, SoLocal Group issued a bond through PagesJaunes Finance & Co SCA, an entity specifically dedicated to the financial restructuring (cf. Note 10.5). This entity is fully consolidated.

2

3

NOTE 15

EVENTS SUBSEQUENT TO THE CLOSING DATE

SoLocal has presented its “SoLocal 2020” strategic project, based on an expanded offer of digital services for businesses, a reinvented PagesJaunes media platform and a streamlined organisation. This plan bears SoLocal’s new ambition: to become one of the digital services champions in France. To better meet customers’ needs, the operational organisation would be redesigned: the business units will be eliminated, support functions will be centralised, locations will be rationalised, the hierarchy will be streamlined, and certain activities will be consolidated. This would require cutting around 1,000 positions at

the Group level over the 2018-2019 period, including around 800 positions at PagesJaunes in 2018 and 200 positions in 2019. An Employment Protection Plan would be implemented. The transformation project would also include the creation of a hundred positions in 2018 on new digital skills. Accordingly, on February 13rd, the Company initiated the process of informing and consulting with the employee representative bodies. The overall cost is approximately of €180 million. As a subsequent event to the closing date, no amount has been provisioned in 2017 accounts.

4

5

6

NOTE 16

SCOPE OF CONSOLIDATION

As at 31/12/2017

As at 31/12/2016

7

Voting rights

Voting rights

Entities

Country

Interest

Interest

Fully consolidated companies (exclusive control) SoLocal Group (consolidating)

France France

100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%

PagesJaunes

8

QDQ Media

Spain Spain Spain

Optimizaclick

Trazada

Euro Directory

Luxembourg

SOMS Mappy

France France France France France Austria France France France

Retail Explorer Leadformance

NetVendeur

Digital To Store Yelster Digital

United Kingdom 100% 100% 100% 100%

ClicRDV

Fine Media

PagesJaunes Resto (1)

-

-

100% 100%

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2017 Registration Document SOLOCAL