PERNOD-RICARD_REGISTRATION_DOCUMENT_2017-2018

5

CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Breakdown of fixed-rate/floating-rate debt before and after interest rate hedging instruments on 30 June 2017 4. and 30 June 2018

30.06.2018

30.06.2017

Debt before hedging

Debt after hedging

Debt before hedging

Debt after hedging

€ million

Fixed-rate debt

6,827

80% 5,819

68% 6,770

88% 6,084

79%

Capped floating-rate debt

-

-

-

-

-

-

-

-

Floating-rate debt

1,701

20% 2,709

32%

946

12% 1,633

21%

FINANCIAL DEBT AFTER HEDGING BY TYPE OF RATE

100% 8,528

100% 7,716

100% 7,716

100%

8,528

On 30 June 2018, before taking account of any hedges, the Group’s gross debt was 88% fixed rate and 12% floating rate. After hedging, the floating-rate portion was 21%. Schedule of financial liabilities on 30 June 2017 and 30 June 2018 5. The following table shows the maturity of future financial liability-related cash flows (nominal and interest). Floating-rate interest flows have been estimated on the basis of rates on 30 June 2017 and 30 June 2018.

Balance sheet value

Contractual flows

< 6 months

6 to 12 months

1 to 2 years

2 to 3 years (923) (255)

3 to 4 years

4 to 5 years > 5 years

At 30.06.2017 € million Nominal value

- -

(8,501) (2,186) (10,687)

(769) (127) (896)

(304) (129) (433)

(15)

(1,067)

(1,648)

(3,775)

Interest

(256) (270)

(238)

(182)

(999)

GROSS FINANCIAL DEBT Cross currency swaps

(8,545)

(1,178)

(1,305)

(1,830)

(4,774)

- - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

Flows payable ● Flows receivable ●

Derivative instruments – liabilities DERIVATIVE INSTRUMENTS LIABILITIES

(57) (57)

(57) (57)

(19) (19)

(7) (7)

(13) (13)

(13) (13)

(8) (8)

1 1

3 3

TOTAL FINANCIAL LIABILITIES

(8,602)

(10,744)

(915)

(441)

(284)

(1,192)

(1,313)

(1,830)

(4,771)

Balance sheet value

Contractual flows

< 6 months

6 to 12 months

1 to 2 years (891) (249)

2 to 3 years

3 to 4 years

4 to 5 years > 5 years

At 30.06.2018 € million Nominal value

- -

(7,679) (1,886) (9,565)

(323) (123) (447)

(38)

(1,071)

(1,587)

(727) (104) (830)

(3,042)

Interest

(126) (164)

(232)

(176)

(876)

GROSS FINANCIAL DEBT Cross currency swaps

(7,691)

(1,140)

(1,303)

(1,763)

(3,918)

- - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

Flows payable ● Flows receivable ●

Derivative instruments – liabilities DERIVATIVE INSTRUMENTS LIABILITIES

(43) (43)

(33) (33)

(15) (15)

(2) (2)

(7) (7)

(5) (5)

(1) (1)

(1) (1)

(2) (2)

TOTAL FINANCIAL LIABILITIES

(7,734)

(9,598)

(461)

(166)

(1,147)

(1,308)

(1,764)

(831)

(3,921)

Syndicated loan 6. At 30 June 2018, no drawdowns had been made from the multi-currency syndicated loan of €2,500 million.

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PERNOD RICARD REGISTRATION DOCUMENT 2017/2018