Message
to shareholders

The year 2022 will undoubtedly feature bicentenary celebrations of the Group, whose longevity, vitality and determination have allowed it to move with the times by adapting to the changing world.

The Group celebrates its bicentenary in 2022. Few companies have managed to reach their two-hundredth birthday, and even fewer have remained within the same family. This exceptional longevity is based on our ability to evolve and adapt to our world. Change is part of our DNA. What remains constant is our values and our deep respect
for the men and women who are working each day to build the Bolloré Group.

This bicentenary comes after the Group’s results for 2021 highlighted the Group’s very good performance, against a backdrop of recovery in the global economy following the public health crisis, with EBITA of 1,339 million euros, up 77%.

Bolloré Transport & Logistics’ business activities proved particularly resilient, with adjusted operating income (EBITA) of 785 million euros, down 32% at constant scope and exchange rates. These results can be attributed to strong contributions by our businesses: port terminals, and freight forwarding, driven by robust activity, and oil logistics, which benefited from higher oil prices.

The results of the Communications sector, namely activities at Vivendi and UMG, increased by 121%, to 748 million euros, thanks to strong showings by Groupe Canal+, Havas and Editis.

Finally, despite savings generated by the discontinuation of car-sharing activities as part of the strategic refocusing on batteries and buses, the results of the Electricity storage and systems sector fell by 15 million euros compared to 2020 because of the sharp rise in raw material costs (resins) in 2021.

The net income of 20,224 million euros included 19,897 million euros in capital gains from the deconsolidation of 70% of Universal Music Group (UMG).
Following the sale in 2021 of an additional 20% of UMG’s capital to the consortium led by Tencent and Pershing Square Vivendi successfully carried out the
distribution of 60% of UMG’s capital to Vivendi’s shareholders and its listing on the Amsterdam Stock Exchange in September 2021. Vivendi retains a 10% stake in UMG, while Bolloré, after the distribution of UMG shares, holds a 17.7% stake.

In addition, following the acquisition of Amber Capital’s position in Lagardère in December 2021, Vivendi filed a proposed tender offer with the AMF at the end of February 2022.

Finally, on March 31, 2022, the Group signed a contract with the MSC group to sell 100% of Bolloré Africa Logistics. This extremely important deal for our Group preserves jobs ads well as the development of ongoing projects. It is expected to be finalized before the end of the first quarter of 2023.
Bolloré Group will maintain a significant presence in Africa, particularly through Canal+, and will also continue its projects in sectors such as communications, entertainment, telecoms and publishing.

Cyrille Bolloré
Chairman and Chief Executive Officer