Slide 1: H1 2016 Earnings
H1 2016 EARNINGS* September 15-16, 2016– Paris *Audited
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation contains forward-looking statements (made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995). By their nature, forward-looking statements involve risk and uncertainty. Forward-looking statements represent the compa
Slide 3: An innovative technology and services company
me cegedim An innovative technology and services company In 2015 BELGIUM HOMP- Cegedim FX SWITZERLAND €426 Mm UNITED STATES FRANCE saa ROMANIA i : Header 4 Cegecim FR of revenue 138 ; ; “ igs sas ° 3,600 employees 11 countries TUNISIA lext Softwa
Slide 4: Our Clients
x Our Clients x Sy care Phomeeoe WW\lliare Uhl \ ya OS, &> Health
Slide 5: Our business
x Our business x 220,000 7%, Se cH ? - Software a - Database 5 r - Services - Payrol 83,000 « ey 41,000 « a4 -TAM - Software - Database - Software - Services - Database - Supply chain - Services - Digital media _ we N Vi Healthcare All industries x Vis SS rol" Via » Pan ak 40 mil jion’é all major*¢_
Slide 6: Our divisions
< Our divisions < Health Insurance, H.R. & e-services Healthcare Professionals ] aw a | Hospitals y Physicians y aR Paramedics, a over 200} SRH 4 7, Pharmacists ¢ e-business Revenue Revenue €234.7m 55.1% FY 2015
Slide 7: Our R&D
< OurR&D = NF a 7 Revenue on Capitalized Capitalized R&D R&D Ratio Voie LoN\ €18.7m 8.7% as of June 2016 as of June 2016 +47% +252 bps change between June 2015 and June 2016 change between June 2015 and June 2016
Slide 8: Our Positions
< Our Positions < NF Cegedim Insurance Solutions SooN a a #1 #1 Sofware and IT Third-Party Payment in France in France N74 Cegedim e-business SoN a =F #1 +300 million in 2015 Electronic Documents exchanged per year European Network X74 Cegedim SRH SN = Sj #2 +40,000 in 2013 in France +50,000 in 2014
Slide 9: Our Strengths
x Our Strengths x Nee - Nee Leading market positions 6= Stable, well-balanced in each of our divisions 7 and diversified revenue mix LN —— \ 4 NF . . Unique presence High banters fo entry ! in the Healthcare Ecosystem ——~ wT NO 7 N74 Recognized portfolio of Long-standing shareholder innovative and i
Slide 10: Roadmap for Profitable and Sustainable Growth
Roadmap for Profitable and Sustainable Growth 2018 • Full benefit of Group transformation • Well positioned for 2016 - 2017 coming years • Group Transformation 2015 - Management • Disposal of the CRM evolution and Strategic Data - Organization change division - Change in business • Acquisition of Ac
Slide 11: Cegedim Investments
Cegedim Investments Product Update SaaS / Cloud BPO • Upgrades to • All new solutions will • Process efficiency reflects market be Cloud based • Flexibility in scaling changes • Will reduce cost of • Trends toward more development, outsourcing • Introduce new offer maintenance and production • Drive
Slide 12: H1 2016 Key Takeaway
H1 2016 Key Takeaway Key Figures Key Points Outlook Revenue Group offering For the full year 2016 €215.5m shifting to the cloud Cegedim expects: +4.3% reported +3.6% L-f-L Group Cloud and BPO offerings Revenue EBITDA a success up 3.0% L-f-L €25.7m Revenue up revised upward (26.9)% Margin impacted EB
Slide 13: H1-2016 Financial Situation
H1-2016 Financial Situation
Slide 14: H1-2016 P&L
H1-2016 P&L In € million H1-16 H1-15 % Change Revenue 215.5 206.7 +4.3% EBITDA 25.7 35.1 (26.9)% margin 11.9% 17.0% (507)bps D&A (16.4) (14.8) +10.8% EBIT before special items 9.2 20.3 (54.4)% margin 4.3% 9.8% (552)bps Special items (3.7) (4.2) (10.1)% EBIT 5.5 16.1 (65.8)% margin 2.6% 7.8% (524)bps
Slide 15: H1-16 Revenue Growth
H1-16 Revenue Growth Division H1-15 L-f-L Structure Currency Reported H1-16 Health Insurance H.R. & e-services 110.7 +9.6% +3.0% +0.0% +12.5% 124.6 Healthcare Professionals 94.0 (3.0)% — (2.0)% (5.0)% 89.4 Activities not 1.9 (18.4)% — — (18.4)% 1.6 allocated Cegedim 206.7 +3.6% +1.6% (0.9)% +4.3% 21
Slide 16: Well Diversified Revenue Sources
Well Diversified Revenue Sources 16
Slide 17: H1-2016 EBITDA Trend
H1-2016 EBITDA TREND ea EBITDA Trend Lo™N Miscellaneous External Purchase E used ‘xpenses Revenue v ¥ Payroll June June 2015 2016 EBITDA EBITDA NF Workforce Trend SooN +454 3893, +403 Q2 +287 MM 2016 al +178 so | 2016 HISD +75 +60 Nightingale Se 3439 +75.) gg “ution ; 2015 Activus acquisition June J
Slide 18: H1 P&L by Division
H1 P&L by Division Health Insurance Healthcare Activities not H.R. & e-services Professionals allocated H1 16 H1 15 Δ% H1 16 H1 15 Δ% H1 16 H1 15 Δ% Revenue 124.6 110.7 +12.5% 89.4 94.0 (5.0)% 1.6 1.9 n.m. EBITDA 17.8 20.7 (14.0)% 7.4 14.2 (47.5)% 0.5 0.2 n.m. D&A (7.3) (7.9) (7.9)% (6.5) (5.6) +15.
Slide 19: Health Insurance, H.R. & e-services
Health Insurance, H.R. & e-services Revenue +9.6% l-f-l EBITDA (14.0)% H1 2016 H1 2016 • Significant growth at: • Temporary decline in profitability at: • Cegedim Insurance Solutions despite • iGestion and Cegedim e-business the transition to the SaaS/Cloud due to the start of business with • Third-
Slide 20: Healthcare Professionals
Healthcare Professionals Revenue EBITDA (47.5)% H1 2016 (3.0)% l-f-l H1 2016 • The decline was chiefly attributed to: • Decline due to investment made in: • Slowdown in the UK doctor • France: New hybrid offering for computerization business pharmacies • Negative impact from Belgium • US: RCM, Cloud
Slide 21: Cost of net debt fell considerably
Cost of net debt fell considerably In € million Q1-2016 Q2-2016 H1-2016 Interest expenses and others (7.2) (0.7) (7.9) Premium paid(1) (15.9) — (15.9) Cost of net financial debt (23.2) (0.7) (23.9) (1) Premium paid for the total redemption of the 6.75% bond maturing in 2020 21
Slide 22: HY 2016 Balance Sheet (in €m)
HY 2016 Balance Sheet (in €m) Assets Jun. 16 Dec. 15 Goodwill 189.5 188.5 Other non-current assets 230.3 223.7 Cash & cash equivalents 10.8 231.3 Other current assets 234.2 220.0 Assets held for sale 1.6 0.8 Shareholders Equity & Liabilities Shareholders Equity(1) 198.4 228.1 Other non-current liabi
Slide 23: Net Debt Situation
Net Debt Situation (1) Expected earn-out on Activus, Nightingales and Webstar (2) Paid for the total redemption of the 6.75% bond maturing in 2020 23
Slide 24: Solid Capital Structure
Solid Capital Structure Credit Rating Corporate and capital structure Assessed on April 28, 2016 Maturity Profile This includes 0.3% of the shares of Cegedim S.A. held by Cegedim S.A. as of June 30, 2016 24
Slide 25: Potential impact of Brexit
Potential impact of Brexit In 2015, the UK represented 15.1% of consolidated Group revenue and 19.2% of Group EBIT Cegedim operates in the UK in local currency, as it does in all the countries where it operates. Thus, the impact on the consolidated Group EBIT margin should be marginal. (1) These pro
Slide 26: Outlook
Outlook In an uncertain economic conditions and a challenging geopolitical context, Cegedim expects(1) for the full year 2016: Revenue from continuing activities up 3.0% L-f-L revised upward EBITDA down €10m revised downward. (1) These projections are publicly disclosed on September, 2016. the fact
Slide 27: Appendix
Appendix
Slide 28: Cegelease activity has evolved
Cegelease activity has evolved: In 2001 In 2015 Exclusive reseller of Group’s products Broker of financial leases Cegedim: unique supplier Many different suppliers Financing solutions for all healthcare Payment solution for Pharmacist professionals and others professionals Majority of contract are r
Slide 29: Q1 2015 Revenue Restatement by Division
Q1 2015 Revenue Restatement by Division Reported Restatement Restated Q1-2015 Q1-2015 Health Insurance H.R. & e-services 54.0 (0,3)(1) 53.7 Healthcare Professionals 37.2 8.7 45.9 Cegelease 29.3 (29.3) — Activities not allocated 0.8 — 0.8 Cegedim 121.3 (20.9) 100.4 (1) Cegedim Kadrige restatement 29
Slide 30: Q2 2015 Revenue Restatement by Division
Q2 2015 Revenue Restatement by Division Reported Restatement Restated Q2-2015 Q2-2015 Health Insurance H.R. & e-services 57.5 (0.5)(1) 57.0 Healthcare Professionals 39.3 8.8 48.1 Cegelease 26.8 (26.8) — Activities not allocated 1.1 — 1.1 Cegedim 124.8 (18.6) 106.2 (1) Cegedim Kadrige restatement 30
Slide 31: HY 2015 Revenue Restatement by Division
HY 2015 Revenue Restatement by Division Reported Restatement Restated HY-2015 HY-2015 Health Insurance H.R. & e-services 111.5 (0.8)(1) 110.7 Healthcare Professionals 76.5 17.5 94.0 Cegelease 56.1 (56.1) — Activities not allocated 1.9 — 1.9 Cegedim 246.1 (39.4) 206.7 (1) Cegedim Kadrige restatement
Slide 32: Cegelease's Restatement Impact
Cegelase’s Restatement Impact This leads to a restatement of Q1, Q2 and H1 2015 accounts in accordance with IAS 17. Impact on Revenue, EBITDA but not on EBIT In € million Q1 2015 Q2 2015 H1 2015 Revenue 121.0 100.5 124.3 106.2 245.3 206.7 EBITDA 18.3 14.7 23.2 20.4 41.5 35.1 EBIT 7.3 7.4 13.0 12.9 2
Slide 33: We welcome your questions and comments
We welcome your questions and comments Jan Eryk Umiastowski Chief Investment Officer – Head of Investor Relations janeryk.umiastowski@cegedim.com Tel: 00 33 1 49 09 33 36 – Mob: 00 33 6 73 25 96 34