SYNTHOS S.A. FINANCIAL PART OF THE REPORT for the 3 months ended 31 March 2017

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1 SYNTHOS S.A. SYNTHOS GROUP - Financial part of the report. FINANCIAL PART OF THE REPORT for the 3 months ended 31 March

2 FINANCIAL PART OF THE REPORT (all figures in millions of zlotys, unless otherwise stated) I. CONSOLIDATED REPORT Consolidated statement of comprehensive income for the 3 months period ending on 31 March 2017 from to from to Revenue Cost of sales (1 428) (843) Gross profit on sales Selling costs (54) (32) Administrative expenses (61) (48) Costs of research and development (10) (7) Other operating income/(expenses) (3) (17) Operating profit Financial income Financial costs (23) (19) Profit before tax Income tax (86) (7) Net profit Other comprehensive income items that may be reclassified to profit or loss in a subsequent period: Foreign exchange differences on translation of foreign entities (122) 1 Measurement of available-for-sale financial assets - (1) Other comprehensive income (net) (122) - Total comprehensive income Profit attributable to: Equity holders of the parent company Non-controlling interests - - Net profit for the year Comprehensive income attributable to: Equity holders of the parent company Non-controlling interests - - Comprehensive income for the period Earnings per share attributable to the equity holders of the Company during the year (in PLN per share) basic and diluted 0,28 0,04 2

3 Cost by type from to from to a) Amortization and depreciation b) Materials and energy used c) External services d) Taxes and fees 10 9 e) Employee benefit expense f) Other costs by type 17 4 Total costs by type Change in inventories of finished goods and accruals (85) (43) Changes in settled costs (26) (19) Selling costs (negative amount) (54) (32) Administrative expenses (negative amount) (61) (48) Costs of research and development for internal needs (10) (7) Cost of sales of finished goods Cost of goods for resale and materials sold Cost of sales Revenues from sales from to from to Revenue from sales of finished goods Revenue from sales of services Revenue from sales of goods for resale and materials

4 Consolidated statement of financial positions as at 31 March 2017 Assets Non-current assets Property, plant and equipment Intangible assets Available-for-sale financial assets Deferred tax assets Other non-current assets Current assets Inventories Income tax receivables Trade and other receivables Cash and cash equivalents Total assets Equity and liabilities Equity Share capital Revaluation reserve (23) (23) (1) - Foreign exchange differences on translation of entities (37) Retained earnings Equity attributable to equity holders of the parent company Non-controlling interests Long-term liabilities Loans, borrowings and other debt instruments Employee benefits payable Deferred income from government subsidies Provisions Deferred income tax liability Other long-term liabilities finance leases Short-term liabilities Loans, borrowings and other debt instruments Deferred income from government subsidies Provisions Income tax liabilities Trade and other payables Total equity and liabilities

5 Carrying amount Number of shares (in units) Weighted average number of shares Book value of 1 share (in PLN) 1,61 1,42 1,78 1,74 Diluted number of shares (in units) Diluted book value per share (in PLN) 1,61 1,42 1,78 1,74 5

6 Consolidated statement of changes in equity for the 3 months ending on 31 March 2017 Share capital Revaluation reserve Foreign exchange differences from translation Retained earnings Total equity attributable to equity holders of the parent company Non-controlling interests Total equity 1 stycznia Net profit - (1) Total comprehensive income, net - (1) marca (1) stycznia (23) Net profit Other comprehensive income - - (122) - (122) - (122) Total comprehensive income, net - - (122) marca (23) (37)

7 Consolidated statement of cash flows for the 3 months ending on 31 March 2017 from to from to Profit before tax Adjustments Amortization and depreciation Foreign exchange gains/(losses) (128) - Interest Other (5) 2 Operating profit before changes in working capital (Increase)/decrease in receivables (394) (85) (Increase)/decrease in inventories (142) (17) (Increase)/decrease in trade payables 231 (8) Net cash generated in operating activities Tax paid (36) 14 Net cash from operating activities Subsidies received 1 8 Interest received 1 3 Proceeds from realised forward contracts - 2 Acquisition of intangible assets and property, plant and equipment (48) (48) Inflows/(outflows) from the cash pool agreement - (1) Net cash from investing activities (46) (36) Cash flows from financing activities Interest paid (37) (34) Outflows in respect of swap transactions - (3) Net cash from financing activities (37) (37) Net increase/(decrease) in cash and cash equivalents (27) (47) Change in cash and cash equivalents in the balance sheet of which: (52) (42) Cash and cash equivalents at the beginning of the year Effect of changes resulting from foreign exchange differences on cash and cash equivalents and term deposits (25) 5 Cash and cash equivalents at the end of the period

8 II. Operating segment reporting Rubbers Styrene derivatives Dispersions, Adhesives and Latexes Media Agro Other Total Revenue Sales of goods for resale/ finished goods (external customers) Sales of services (external customers) Q to Q to Q to Q to Q to Q to Q to Q to Q to Q to Q to Q to Q to Q to Total revenues Total expenses (639) (451) (779) (363) (55) (43) (50) (44) (29) (24) (1) (5) (1 553) (930) - including R&D (4) (4) (3) (2) (1) (1) - - (1) - (1) - (10) (7) Profit/(loss) of the segment (1) Other (expenses)/revenues 3 (11) (5) (4) (3) (3) (3) (17) Operating profit (4) Finance income Finance costs (23) (19) Profit before tax Income tax (86) (7) Net profit Capital expenditure Amortization and depreciation

9 Segment assets Unallocated assets Total assets Geographical information Country Other countries Total from to from to from to from to from to from to Revenue (sales to external customers)

10 III. SEPARATE REPORT Separate statement of comprehensive income for the 3 months ending on 31 March 2017 from to from to Revenue Cost of sales (34) (29) Gross profit on sales 6 6 Administrative expenses (3) (4) Other operating income/(expenses) - (2) Operating profit 3 - Financial income Financial costs (18) (18) Share of profits of entities: accounted for using the equity method Profit before tax Income tax (36) (1) Net profit Other comprehensive income items that may be reclassified to profit or loss in a subsequent period: Foreign exchange differences on translation of foreign entities (122) 1 Measurement of available-for-sale financial assets - (1) Other comprehensive income (net) (122) - Total comprehensive income Profit attributable to: Equity holders of the parent company Net profit for the year Comprehensive income attributable to: Equity holders of the parent company Comprehensive income for the period Earnings per share attributable to the equity holders of the Company during the year (in PLN per share) basic and diluted 0,28 0,04 10

11 Cost by type from to from to a) Amortization and depreciation 4 4 b) Materials and energy used 3 1 c) External services 8 7 d) Taxes and fees 1 1 e) Employee benefit expense f) Other costs by type 3 2 Total costs by type Administrative expenses (negative amount) (3) (4) Cost of sales of finished goods Cost of sales Revenues from sales from to from to Revenue from sales of services

12 Separate statement of financial position as at 31 March 2017 Assets Non-current assets Property, plant and equipment Intangible assets Long-term financial assets Shares in subsidiaries Available-for-sale financial assets Deferred tax assets Loans granted Current assets Short-term investments Income tax receivables Trade and other receivables Cash and cash equivalents Total assets Equity and liabilities Equity Share capital Revaluation reserve (23) (23) (1) - Foreign exchange differences on translation of entities (37) Retained earnings Total equity Long-term liabilities Loans, borrowings and other debt instruments Deferred income from government subsidies Short-term liabilities Loans, borrowings and other debt instruments Provisions Income tax liabilities Trade and other payables Deffered income Total equity and liabilities

13 Off balance sheet items in PLN Cintingent liabilities To related entities: Guarantee for Synthos Finance AB - bonds repayment* Total off-balance sheet items (1 688) (1 770) (1 707) (1 705) *Issuers of guarantee: Synthos S.A., SD 7 Sp. Z o.o. sp. J., Synthos Kralupy a.s., Synthos PBR s.r.o., Tamero Invest s.r.o Carrying amount Number of shares (in units) Weighted average number of shares Book value of 1 share (in PLN) 1,60 1,41 1,77 1,73 Diluted number of shares (in units) Diluted book value per share (in PLN) 1,60 1,41 1,77 1,73 13

14 Statement of changes in equity for the 3 months ending on 31 March 2017 Share capital Revaluation reserve Foreign exchange differences from translation Retained earnings Total equity 1 stycznia Net profit - (1) Total comprehensive income, net - (1) marca (1) stycznia (23) Net profit Other comprehensive income - - (122) - (122) Total comprehensive income, net - - (122) marca (23) (37)

15 Separate statement of cash flows for the 3 months ending on 31 March 2017 from to from to Profit before tax Adjustments Amortization and depreciation 4 4 Foreign exchange gains/(losses) (65) 2 Interest 18 (1) Profit of entities accounted for using the equity method (343) (48) Other - 2 Operating profit before changes in working capital (Increase)/decrease in receivables 1 22 (Increase)/decrease in trade payables (3) (24) Net cash generated in operating activities 13 8 Tax paid (31) - Net cash from operating activities (18) 8 Repayment of loans - 4 Interest received 1 9 Acquisition of intangible assets and property, plant and equipment (6) (3) Acquisition of shares in subsidiaries and associates (2) (1) Loans granted to subsidiaries and associates (14) (19) Net cash from investing activities (21) (10) Cash flows from financing activities Other financial inflows 16 - Interest paid (35) (35) Net cash from financing activities (19) (35) Net increase/(decrease) in cash and cash equivalents (58) (37) Change in cash and cash equivalents in the balance sheet of which: (65) (38) Cash and cash equivalents at the beginning of the year Effect of changes resulting from foreign exchange differences on cash and cash equivalents and term deposits (7) (1) Cash and cash equivalents at the end of the period

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SYNTHOS S.A. FINANCIAL PART OF THE REPORT for the 3 months ended 30 September 2016

SYNTHOS S.A. FINANCIAL PART OF THE REPORT for the 3 months ended 30 September 2016 SYNTHOS S.A. SYNTHOS GROUP - Financial part of the report. FINANCIAL PART OF THE REPORT for the 3 months ended 30 September 2016 1 FINANCIAL PART OF THE REPORT (all figures in millions of zlotys, unless