NEOPOST_REGISTRATION_DOCUMENT_2017

5

Financial statements

Management discussion and analysis of Neopost S.A.'s annual results

Dividends

The Board of directors has decided to submit a dividend of 1.70 euro per share for approval at the Annual General Meeting of shareholders on 29 June 2018 in respect of the 2017 financial year. If approved, the balance of 0.90 euro per share will be paid on 7 August 2018, following payment of an interim dividend of 0.80 euro per share on 6 February 2018. The balance of the 2017 dividend will be paid entirely in cash, as was the case with the interim dividend.

The Board of directors proposes the following allocation of income:

(In euros)

31 January 2018

Allocation of income subject to the approval of the Annual General Meeting of shareholders: Retained earnings - before interim dividends •

221,472,736.14

Net income at 31 January 2018 • Deduction from issue premium

78,918,634.27

•

-

TOTAL

300,391,370.41

Allocation:

• • •

Legal reserve

-

Interim dividends paid for 2017 • Balance of 2017 dividends

27,519,899.20

30,959,211.60

Retained earnings

241,912,259.61

TOTAL

300,391,370.41

The total amount of dividends paid for the three previous years may be found in the table for the five previous financial years.

Statutory auditors' engagement

Finexsi Audit, represented by Lucas Robin; • Ernst & Young et Autres, represented by Pierre Bourgeois. •

Post-closing events

There has been no material change in the Company's commercial or financial situation between the year-end closing at 31 January 2018 and the publication date of this report. A new CEO, Geoffrey Godet, was appointed following the separation of the functions of Chairman of the Board of Directors and Chief Executive Officer from 1 st February 2018.

2018 outlook

Neopost S.A. will continue to act as the holding Company for the Neopost group.

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REGISTRATION DOCUMENT 2017 / NEOPOST