Month: September 2026

Press Release

74Software to execute an internal legal reorganization to better support its portfolio company strategy

Paris, September 16, 2026 – 74Software (Euronext Paris: 74SW) announces an internal legal reorganization aimed at better aligning the Group’s corporate structure with its portfolio company strategy.

This internal reorganization follows the acquisition of Sopra Banking Software, now SBS, in September 2024 and the subsequent renaming of Axway Software as 74Software in December 2024. The Group now operates through two main enterprise software brands, Axway and SBS, within a portfolio company structure.

As part of this reorganization, 74Software SA will remain the listed parent company of the Group, overseeing strategy, capital allocation, portfolio management and governance across its portfolio of software businesses. Axway’s French operating activities, currently housed within 74Software SA, as opposed to the Group’s other business activities, which are organized as subsidiaries, will be transferred to Axway SAS, a wholly owned and currently inactive French subsidiary of 74Software SA.

This internal legal reorganization is intended to improve the clarity of the Group’s structure by more clearly distinguishing 74Software SA’s role as the listed parent company overseeing the Group’s software portfolio from the operating entities dedicated to the Group’s business activities worldwide. It also provides a clearer and more flexible framework to support the Group’s future development and the potential integration of additional software businesses over time.

The transaction will be carried out through a contribution of the assets and liabilities relating to Axway’s French operating activities to Axway SAS. In consideration for this contribution, made at book value, Axway SAS will issue new shares to 74Software SA. The transaction will not involve any cash consideration.

This reorganization is a purely internal operation. It does not modify the Group’s strategy, consolidated scope, shareholder structure, stock market listing, governance or financial objectives. It is also not expected to have any impact on the day-to-day conduct of Axway’s operations, customer relationships, product roadmap or employee working conditions.

The employee representative body consultation process has been completed. The completion of this reorganization remains subject to confirmation by the AMF that no buyout offer is required under Article 236-6 of its General Regulation.

Subject to this confirmation and the final corporate steps, the transaction is expected to be completed before the end of October 2026, with retrospective accounting and tax effect from January 1, 2026.

About 74Software

74Software is an enterprise software group founded through the combination of Axway and SBS – independently operated leaders with unique experience and capabilities to deliver mission-critical software for a data driven world. A pioneer in enterprise integration solutions for 25 years, Axway supports major brands and government agencies around the globe with its core line of MFT, B2B, API, and Financial Accounting Hub products. SBS empowers banks and financial institutions to reimagine tomorrow’s digital experiences with a composable cloud-based architecture that enables deposits, lending, compliance, payments, consumer, and asset finance services and operations to be deployed worldwide. 74Software serves more than 12,000 companies, including over 1,500 financial service customers. To learn more, visit 74Software.com.

Contacts – Investor Relations:

Arthur Carli – +33 (0)1 47 17 24 65 – acarli@74software.com
Chloé Chouard – +33 (0)1 47 17 21 78 – cchouard@74software.com

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Attachment

• 16092026_PR_74Software_LegalReorg_EN

Earnings for the first half of 2026

September 16, 2026

Revenue: 1,644 million euros, +8% at constant scope and exchange rates.

Net income, Group share: 54 million euros. compared with 163 million euros in the first half of 2025.

Exceptional interim dividend of 380 euros per share.

First-half 2026 results

Compagnie de l’Odet’s Board of Directors met on September 16, 2026 to approve the financial statements for the first half of 2026.

Revenue amounted to 1,644 million euros, an increase of 8% at constant scope and exchange rates:

• Bolloré Energy: 1,467 million euros, +9% amid a general trend of rising prices linked to the conflict in the Middle East, despite a decline in volumes sold (-10%);
• Industry: 156 million euros, +1%, marking a slight increase on the first half of 2025, driven by growth in Films activities (higher volumes in dielectric films and packaging) and Systems activities, despite a decline in Blue activities;
• Other: 21 million euros, -6%, reflecting a decline in real estate revenue, and a decrease of 34 million euros on a reported basis, primarily attributable to the exit of Ovrsea from the scope of consolidation in December 2025 following its merger with Fusalpes.

On a reported basis, revenue increased by 6%, after a negative scope effect of -34 million euros (primarily related to the exit of Ovrsea from the scope of consolidation) and a positive foreign exchange effect of +1 million euros.

Adjusted operating income (EBITA ⁽¹⁾) was €97 million, down -20% on the first half of 2025.

• Bolloré Energy ⁽²⁾: 47 million euros, up 77% against a backdrop of high prices, driven by positive stock effects and strong performance of distribution in France and Germany;

• Communications ⁽³⁾ : 184 million euros, down, primarily due to lower contributions from Groupe Canal+
  (-21 million euros) and UMG (-6 million euros);
• Industry ⁽⁴⁾: -42 million euros, a reduction in losses of 10 million euros compared with the first half of 2025, with Blue Solutions focusing on research into new-generation batteries;
• Other: -93 million euros, an increase in personnel costs and a decrease in real estate revenue, resulting from the significant asset disposals carried out in recent years. 

Net financial income was 45 million euros, compared with 96 million euros in the first half of 2025, due to lower interest rates and a fall in the dividends received from the Socfin Group.

The net income from equity-accounted non-operating companies was 6 million euros, after breaking even in the first half of 2025, due to the increase in the share of Compagnie de l’Étoile des Mers’ net income. Since the end of 2024, this item has no longer included the share of net income from Socfin Group.

After taking into account -28 million euros in taxes (compared with -11 million euros in the first half of 2025), consolidated net income came to 96 million euros, compared with 257 million euros in the first half of 2025.

Net income Group share amounted to 54 million euros, compared with 163 million euros in the first half of 2025.

Shareholders’ equity totalled 20,017 million euros, compared with 21,089 million euros as at December 31, 2025, down -1,072 million euros, mainly due to dividends paid to minority shareholders (-1,190 million euros) and the acquisition of Bolloré SE shares (-253 million euros), despite the change in the fair value of the securities held by the Group (+333 million euros).

Group shareholders’ equity came to 13,269 million euros, compared with 12,793 million euros as at December 31, 2025.

As at June 30, 2026, Compagnie de l’Odet had a net cash position of 3,658 million euros, compared with 5,126 million euros at the end of 2025. The fall of -1,468 million euros includes in particular the payment of dividends to minority shareholders (-1,190 million euros) and acquisitions of minority interests for -253 million euros.

At the end of June 2026, Compagnie de l’Odet had 7 billion euros in cash and cash and confirmed lines.

Main transactions

Compagnie de l’Odet

• On June 25, 2026, the company received an exceptional dividend of 1.5 euros per share from Bolloré SE, representing 3.1 billion euros.
• Since the beginning of 2026, Compagnie de l’Odet has acquired 89 million Bolloré SE shares at a unit price of 4.57 euros (representing 3.2% of the share capital), for a total amount of 409 million euros, including 15 million shares held by subsidiaries of Bolloré SE, for 81 million euros, as part of the simplification of the Group’s structure.
• In 2026, Compagnie de l’Odet acquired 15.7 million shares in Canal+ (1.58% of the share capital), at an average unit price of 2.53 pounds sterling, corresponding to a total amount of 40 million pounds sterling (equivalent to

46 million euros), completing the shares acquired in 2025. In total, Compagnie de l’Odet holds nearly 48 million shares representing 4.8% of the share capital, for an amount of 107 million pounds sterling (equivalent to 127 million euros).

Compagnie de l’Étoile des Mers

• Compagnie de l’Étoile des Mers, a 51% subsidiary of Bolloré Participations SE and in which Compagnie de l’Odet holds 49%, acquired a stake in Havas N.V.. Compagnie de l’Étoile des Mers holds 22.6% of Havas N.V. for an investment of 347 million euros, representing a price per share of 15.5 euros. In addition, Bolloré SE still owns 30.44% of Havas N.V. directly and Compagnie de l’Odet 0.6%.

Vivendi spin-off

• On April 22, 2025, following proceedings by the Luxembourg company CIAM Fund, the Paris Court of Appeal overturned a decision by the AMF on November 13, 2024, insofar as it had found that Bolloré SE did not control Vivendi SE within the meaning of article L. 233-3 of the French Commercial Code.
• On July 18, 2025, pursuant to the Court of Appeal’s ruling of April 22, 2025, the AMF ruled that a public tender offer to delist the shares of Vivendi SE had to be filed within a period of six months. The offer would not close until the Court of Cassation had handed down its ruling on the appeals against the Paris Court of Appeal’s decision of April 22, 2025. On July 28, 2025, Bolloré SE decided to appeal to the Paris Court of Appeal against the AMF’s decision of July 18; the annulment of that decision was confirmed by the same court on April 9, 2026, as a result of the reversal of the April 22, 2025 judgment, as described below.
• On November 28, 2025, the Court of Cassation overturned the ruling of April 22, 2025 to the extent it had ruled that Vivendi SE was controlled by Bolloré SE within the meaning of Article L. 233-3, I, 3° of the French Commercial Code on the grounds that the Court of Appeal had violated this provision and referred the case to the Paris Court of Appeal otherwise constituted. The hearing for oral arguments took place on May 22, 2026.
• On July 8, 2026, the Paris Court of Appeal, sitting as an extended bench, dismissed all of CIAM Fund’s claims. The Court held that Vivendi SE could not be regarded as being controlled by Bolloré SE within the meaning of subsections 3° and 4° of Article L.233‑3 I of the French Commercial Code, and that the existence of control through concerted action, within the meaning of Article L.233‑3 III, was likewise not established. CIAM Fund was ordered to pay a total of €350,000 under Article 700 of the French Code of Civil Procedure, including €200,000 to Bolloré SE.
• CIAM Fund has decided to lodge an appeal before the Cour de Cassation against the ruling by the Paris Court of Appeal dated July 8, 2026.

Bluebus/Blue Solutions

• On September 8, Bolloré SE announced a project to discontinue the production of electric buses, which may affect 74 positions. In a French market that has been less dynamic than expected, marked by intense competition and significant pricing pressure, Bluebus is not large enough to compete with other players in the sector. After years of actively searching for solutions and despite the efforts made to adapt its business model, the company determined that the necessary conditions were no longer present. An offer has been made by a European industrial company to acquire certain assets, reducing the number of potential job losses.
• Bolloré SE also announced a strategic refocusing of Blue Solutions on fourth‑generation battery development, which may affect 41 positions.

Exceptional interim dividends

Following the distribution by Bolloré SE in June 2026 of an exceptional dividend of €4.2 billion, and in accordance with the announcement made in its press release dated March 17, 2026, Compagnie de l’Odet’s Board of Directors has decided today to pay an exceptional interim dividend of €2.5 billion, which will be paid on September 29, 2026. The companies that directly and indirectly control Compagnie de l’Odet (Sofibol, Financière V and Omnium Bolloré) also decided today to pay exceptional interim dividends corresponding to the majority of the amount of the interim dividend received.
As a result of the distribution of these exceptional interim dividends, Bolloré SE and its subsidiaries will receive a total amount of approximately €2 billion. These subsidiaries include Compagnie du Cambodge, Financière Moncey and Société Industrielle et Financière de l’Artois. These three companies will meet on September 18 and be called upon to decide respectively the payment of exceptional interim dividends of €13 per Compagnie du Cambodge share (€789 million), €14 per Financière Moncey share (€261 million) and €650 per Société Industrielle et Financière de l’Artois share (€173 million). In case of favourable decisions, the payment of these interim payments by these three companies should take place in the first half of October 2026. New announcements will be made regarding the decisions that are taken on 18 September 2026.

Consolidated key figures

(in millions of euros)	H1 2026	H1 2025	Change
Revenue	1,644	1,547	6%
EBITDA (1)	131	136
Depreciation and provisions	(34)	(15)
Adjusted operating income (EBITA (1))	97	121	(20%)
Amortization resulting from PPAs and other items not included in EBITA(1)	(24)	38
EBIT	73	159
o/w equity- accounted operating companies	162	247
Financial income	45	96
Share of the net income of equity-accounted non-operating companies	6	0
Taxes	(28)	(11)
Income from discontinued or held for sale activities	–	14
Net income	96	257	€(161)m
Net income, Group share	54	163
Minority interests	41	94
(in millions of euros)	06/30/2026	12/31/2025	Change
Shareholders’ equity	20,017	21,089	(1,072)
Of which Group share	13,269	12,793	476
Net debt / (Net Cash)	(3,658)	(5,126)	1,468
Gearing (2)	n.a.	n.a.

(1)  See glossary.
(2)  Gearing: ratio of net debt to equity.

Change in revenue by activity

(in millions of euros)	H1 2026	H1 2025	Reported	Organic
			growth	growth
Bolloré Energy	1,467	1,337	10%	9%
Industry	156	156	0%	1%
Other (Agricultural assets, Holding and others)	21	54	(62%)	(6%)
Total	1,644	1,547	6%	8%

Change in revenue by quarter

(in millions of euros)	Q1				Q2
		2026	2025 organic	2025		2026	2025 organic	2025
Bolloré Energy		731	678	675		736	663	661
Industry		74	77	78		82	78	78
Other (Agricultural assets, Holding and others)		10	11	28		11	10	26
Total		815	766	782		829	751	765

Adjusted operating income (EBITA)

(in millions of euros)	H1 2026	H1 2025	Reported growth
Bolloré Energy (1)	47	27	77%
Communications	184	210	(12%)
UMG (2)	112	118
Canal+ (2)	27	48
Louis Hachette Group (2)	6	7
Havas (2)	26	23
Vivendi (2)	13	14
Industry (1)	(42)	(52)	20%
Other (Agricultural assets, Holding and others)	(93)	(63)	(47%)
EBITA	97	121	(20%)

(1)  Before Group costs.
(2)  Operating companies accounted for using the equity method.

A detailed presentation of the results of its subsidiary Bolloré SE is available at www.bollore.com.
The limited review procedures for the 2026 interim consolidated financial statements have been performed, and the certification report will be issued after verification of the interim management report.

Group shareholder structure as of June 30, 2026

See the organization chart in the PDF press release

Comparability of financial statements

• Performance indicators
  • At June 30, 2026, Compagnie de l’Odet has not changed the definition of its performance indicators, particularly EBITA, which are comparable to those at June 30, 2025. EBITA and operating income data are presented before Group expenses.

• Trend in the main currencies

Average rate	06/30/2026	06/30/2025	Change
USD	1.17	1.09		7%
GBP	0.87	0.84		3%
CHF	0.92	0.94		(2%)
CAD	1.61	1.54		4%
INR	108.51	94.14		15%

Glossary

• Organic growth: at constant scope and exchange rates.
• Adjusted operating income (EBITA): operating income before the amortization of intangible assets related to business combinations (PPA: purchase price allocation), the impairment of positive and negative goodwill arising on business combinations, and other intangible assets relating to disputes with shareholders or concerning businesses no longer operated by the Group.
• EBITDA: earnings before interest, taxes, depreciation and amortization.
• Net financial debt / Net cash position: sum of borrowings at amortized cost, less cash and cash equivalents, cash management financial assets and net derivative financial instruments (assets or liabilities) with net financial debt as their underlying asset, as well as cash deposits backing borrowings.

The non-GAAP measures defined above should be considered as additional information that does not replace GAAP measures of operating and financial performance; Compagnie de l’Odet considers them to be relevant indicators of the Group’s operating and financial performance. Other companies may define and calculate these indicators differently. The indicators used by Compagnie de l’Odet may therefore not be directly comparable with those of other companies.

The percentage changes shown in this document are calculated in relation to the same period of the previous fiscal year, unless otherwise stated. Due to rounding, in this presentation, the sum of some data may not correspond exactly to the calculated total, and the percentage may not correspond to the calculated variation.

---

(1) See glossary.
(2) Before Group costs.

(3) Operating companies accounted for using the equity method.
(4) Before Group costs.

Attachment

• 2026 09 16 Odet CP résultats S1 2026 UK

First-half 2026 results

September 16, 2026

Revenue: 1,644 million euros, +8% at constant scope and exchange rates.

Adjusted operating income (EBITA ^{(1) (2)}): 104 million euros, compared with 123 million euros in the first half of 2025.

Net income: 133 million euros, compared with 242 million euros in the first half of 2025.

Net income, Group share: 132 million euros.

Value of the portfolio of listed securities as at June 30, 2026: 9,232 million euros. As at September 14, 2026, the value stood at 7,943 million euros, reflecting the sharp decline in UMG’s stock price.

Net cash position: 1,447 million euros as at June 30, 2026, compared with 5,619 million euros as at December 31, 2025, following the payment by Bolloré SE of dividends (4,215 million euros in exceptional dividend and 169 million euros representing the balance of the ordinary dividend).

Exceptional interim dividends from Compagnie de l’Odet (2.5 billion euros) and the companies that control it.

First-half 2026 results

Bolloré’s Board of Directors met on September 16, 2026 to approve the financial statements for the first half of 2026.

Revenue amounted to 1,644 million euros, an increase of 8% at constant scope and exchange rates:

 Bolloré Energy: 1,467 million euros, +9% amid a general trend of rising prices linked to the conflict in the Middle East, despite a decline in volumes sold (-10%);

• Industry: 156 million euros, +1%, marking a slight increase on the first half of 2025, driven by growth in Films activities (higher volumes in dielectric and packaging films) and Systems activities, despite a decline in Blue activities;
• Other: 21 million euros, -6%, reflecting a decline in real estate revenue, and a decrease of 34 million euros on a reported basis, primarily attributable to the exit of Ovrsea from the scope of consolidation in December 2025 following its merger with Fusalpes.

On a reported basis, revenue increased by 6%, after a negative scope effect of -31 million euros (primarily related to the exit of Ovrsea from the scope of consolidation) and a positive foreign exchange effect of +1 million euros.

Adjusted operating income (EBITA ⁽³⁾) was €104 million, down -15 % on the first half of 2025.

 Bolloré Energy ⁽⁴⁾: 47 million euros, up 77% against a backdrop of high prices, driven by positive stock effects and strong performance of distribution in France and Germany;

• Communications ⁽⁵⁾: 181 million euros, down, primarily due to lower contributions from Groupe Canal+ (-19 million euros) and UMG (-5 million euros);
• Industry ⁽⁴⁾: -42 million euros, a reduction in losses of 10 million euros compared with the first half of 2025, with Blue Solutions focusing on research into new-generation batteries;
• Other: -82 million euros, an increase in personnel costs and a decrease in real estate revenue, resulting from the significant asset disposals carried out in recent years. 

 Net financial income was 64 million euros, compared with 95 million euros in the first half of 2025, due to lower interest rates and a fall in the dividends received from the Socfin Group.

The net income from equity-accounted non-operating companies remained broadly stable at -1 million euros. Since the end of 2024, this item has no longer included the share of net income from Socfin Group.

After taking into account -12 million euros in taxes (compared with -10 million euros in the first half of 2025), consolidated net income came to 133 million euros, compared with 242 million euros in the first half of 2025.

Net income Group share amounted to 132 million euros, compared with 240 million euros in the first half of 2025.
  

Shareholders’ equity totaled 20,803 million euros, compared with 24,427 million euros as at December 31, 2025, down -3,624 million euros, primarily due to dividends paid (4,387 million euros, including 4,215 million euros in exceptional dividends) despite an increase in the net change in the fair value of securities held (driven mainly by the increase in Compagnie de l’Odet’s share price) and the sale of Bolloré SE treasury shares.

Group shareholders’ equity came to 20,596 million euros, compared with 24,211 million euros as at December 31, 2025.

As at June 30, 2026, the Bolloré Group had a net cash position of 1,447 million euros, compared with 5,619 million euros at the end of 2025. The fall of -4,172 million euros includes the payment of the exceptional dividend in June 2026.

At end-June 2026, the Bolloré Group had 3.6 billion euros in cash and cash and confirmed credit lines.

Main transactions

Bolloré SE

 Since the beginning of 2026, Bolloré SE has sold 10 million Vivendi SE shares (representing 1% of the share capital) at a unit price of 2.2 euros, for a total of 22 million euros.

• On July 6, 2026, Vivendi canceled 17.7 million shares. Following this cancellation, the Bolloré Group’s stake stands at 29.2%.

Compagnie de l’Odet

 Since the beginning of 2026, Compagnie de l’Odet has acquired 89 million Bolloré SE shares at a unit price of 4.57 euros (representing 3.2% of the share capital), for a total amount of 409 million euros, including 15 million shares held by subsidiaries of Bolloré SE, for 81 million euros, as part of the simplification of the Group’s structure.

• In 2026, Compagnie de l’Odet acquired 15.7 million shares in Canal+ (1.58% of the share capital), at an average unit price of 2.53 pounds sterling, corresponding to a total amount of 40 million pounds sterling (equivalent to 46 million euros), completing the shares acquired in 2025. In total, Compagnie de l’Odet holds nearly 48 million shares representing 4.8% of the share capital, for an amount of 107 million pounds sterling (equivalent to 127 million euros).

Compagnie de l’Étoile des Mers

• Compagnie de l’Étoile des Mers, a 51% subsidiary of Bolloré Participations SE and in which Compagnie de l’Odet holds 49%, acquired a stake in Havas N.V.. Compagnie de l’Étoile des Mers holds 22.6% of Havas N.V. for an investment of 347 million euros, representing a unit price of 15.5 euros. In addition, Bolloré SE still owns 30.44% of Havas N.V. directly and Compagnie de l’Odet 0.6%.

Vivendi spin-off

• On April 22, 2025, following proceedings by the Luxembourg company CIAM Fund, the Paris Court of Appeal overturned a decision by the AMF on November 13, 2024, insofar as it had found that Bolloré SE did not control Vivendi SE within the meaning of article L. 233-3 of the French Commercial Code.  

• On July 18, 2025, pursuant to the Court of Appeal’s ruling of April 22, 2025, the AMF ruled that a public tender offer to delist the shares of Vivendi SE had to be filed within a period of six months. The offer would not close until the Court of Cassation had handed down its ruling on the appeals against the Paris Court of Appeal’s decision of April 22, 2025. On July 28, 2025, Bolloré SE decided to appeal to the Paris Court of Appeal against the AMF’s decision of July 18; the annulment of that decision was confirmed by the same court on April 9, 2026, as a result of the reversal of the April 22, 2025 judgment, as described below.
• On November 28, 2025, the Court of Cassation overturned the ruling of April 22, 2025 to the extent it had ruled that Vivendi SE was controlled by Bolloré SE within the meaning of Article L. 233-3, I, 3° of the French Commercial Code on the grounds that the Court of Appeal had violated this provision and referred the case to the Paris Court of Appeal otherwise constituted. The hearing for oral arguments took place on May 22, 2026.
• On July 8, 2026, the Paris Court of Appeal, sitting as an extended bench, dismissed all of CIAM Fund’s claims. The Court held that Vivendi SE could not be regarded as being controlled by Bolloré SE within the meaning of subsections 3° and 4° of Article L.233‑3 I of the French Commercial Code, and that the existence of control through concerted action, within the meaning of Article L.233‑3 III, was likewise not established. CIAM Fund was ordered to pay a total of €350,000 under Article 700 of the French Code of Civil Procedure, including €200,000 to Bolloré SE.
• CIAM Fund has decided to lodge an appeal before the Cour de Cassation against the ruling by the Paris Court of Appeal dated July 8, 2026.

Bluebus/Blue Solutions

• On September 8, Bolloré SE announced a project to discontinue the production of electric buses, which may affect 74 positions. In a French market that has been less dynamic than expected, marked by intense competition and significant pricing pressure, Bluebus is not large enough to compete with other players in the sector. After years of actively searching for solutions and despite the efforts made to adapt its business model, the company has determined that the necessary conditions are no longer present. An offer has been made by a European industrial company to acquire certain assets, reducing the number of potential job losses.
• Bolloré SE also announced a strategic refocusing of Blue Solutions on fourth‑generation battery development, which may affect 41 positions

Exceptional interim dividends

Following the distribution by Bolloré SE in June 2026 of an exceptional dividend of €4.2 billion, and in accordance with the announcement made in its press release dated March 17, 2026, Compagnie de l’Odet’s Board of Directors has decided today to pay an exceptional interim dividend of €2.5 billion, which will be paid on September 29, 2026. The companies that directly and indirectly control Compagnie de l’Odet (Sofibol, Financière V and Omnium Bolloré) also decided today to pay exceptional interim dividends corresponding to the majority of the amount of the interim dividend received.
As a result of the distribution of these exceptional interim dividends, Bolloré SE and its subsidiaries will receive a total amount of approximately €2 billion. These subsidiaries include Compagnie du Cambodge, Financière Moncey and Société Industrielle et Financière de l’Artois. These three companies will meet on September 18 and be called upon to decide respectively the payment of exceptional interim dividends of €13 per Compagnie du Cambodge share (€789 million), €14 per Financière Moncey share (€261 million) and €650 per Société Industrielle et Financière de l’Artois share (€173 million). In case of favourable decisions, the payment of these interim payments by these three companies should take place in the first half of October 2026. New announcements will be made regarding the decisions that are taken on 18 September 2026.

Consolidated key figures

(in millions of euros)	H1 2026	H1 2025	Change
Revenue	1,644	1,547	6%
EBITDA (1)	138	138
Depreciation and provisions	(34)	(15)
Adjusted operating income (EBITA (1))	104	123	(15%)
Amortization resulting from PPAs and other items not included in EBITA(1)	(22)	21
EBIT	82	144
o/w equity- accounted operating companies	160	224
Financial income	64	95
Share of the net income of equity-accounted non-operating companies	(1)	(1)
Taxes	(12)	(10)
Income from discontinued or held for sale activities	–	14
Net income	133	242	€(108)m
Net income, Group share	132	240
Minority interests	1	1
(in millions of euros)	06/30/2026	12/31/2025	Change
Shareholders’ equity	20,803	24,427	(3,624)
Of which Group share	20,596	24,211	(3,615)
Net debt / (Net Cash)	(1,447)	(5,619)	(4,172)
Gearing (2)	n.a.	n.a.

(1)  See glossary.
(2)  Gearing: ratio of net debt to equity.

  
Change in revenue by activity

(in millions of euros)	H1 2026	H1 2025	Reported	Organic
			growth	growth
Bolloré Energy	1,467	1,337	10%	9%
Industry	156	156	0%	1%
Other (Agricultural assets, Holding and others)	21	55	(61%)	(6%)
Total	1,644	1,547	6%	8%

Change in revenue by quarter

(in millions of euros)	Q1				Q2
		2026	2025 organic	2025		2026	2025 organic	2025
Bolloré Energy		731	678	675		736	663	661
Industry		74	77	78		82	78	78
Other (Agricultural assets, Holding and others)		10	12	29		11	11	26
Total		815	766	782		829	751	765

Adjusted operating income (EBITA)

(in millions of euros)	H1 2026	H1 2025	Reported growth
Bolloré Energy (1)	47	27	77%
Communications	181	203	(11%)
UMG (2)	112	117
Canal+ (2)	24	44
Louis Hachette Group (2)	6	6
Havas (2)	26	23
Vivendi (2)	12	13
Industry (1)	(42)	(52)	20%
Other (Agricultural assets, Holding and others)	(82)	(55)	(50%)
EBITA	104	123	(15%)

(1)  Before Group costs.
(2)  Operating companies accounted for using the equity method.

A detailed presentation of the income is available on www.bollore.com.
The limited review procedures for the 2026 interim consolidated financial statements have been performed, and the certification report will be issued after verification of the interim management report.

  

Portfolio of listed securities

	At 06/30/2026					At 09/14/2026			Change in prices since 01/01/2026 (%)(3)
In millions of euros	Price (€)	Stock market capitalization	(%) held	Market value		Price (€)	Market value
Communications (*):
Universal Music Group	18.3	33,700	18.4%	6,197		14.8	5,000		(33%)
Groupe Canal+	£2.4	2,813	30.4%	856		£2.5	894		(5%)
Louis Hachette Group	1.7	1,733	30.4%	527		1.7	523		11%
Havas Group	17.1	1,691	30.4%	515		18.2	549		7%
Vivendi	2.2	2,193	28.8%	631		1.6	452		(34%)
Other:
Socfin Group (1)				310			301		n.a.
Rubis	30.7	3,175	6.0%	190		35.5	220		11%
Other				5			4
Total				9,232			7,943
Total dividends received from shareholdings in H1 2026(2)				198

As at June 30, 2026, the portfolio was valued at 9.2 billion euros, down 13% on December 31, 2025.

(*) These shareholdings are accounted for using the equity method in the Group’s financial statements.

(1)   Interests in Socfinaf, Socfinasia and Socfin (of which 160 million euros for Socfin at delisted value).

(2)   Including UMG (95 million euros), Groupe Canal+ (6 million euros), Havas Group (24 million euros), Louis Hachette Group (18 million euros), and Vivendi (12 million euros).

(3)   As at September 14, 2026.

Appendix

Equity-accounted Companies and portfolio of listed and unlisted shareholdings

In millions of euros	At 06/30/2026		At 12/31/2025
	Percentage of ownership *	Net book value	Percentage of ownership *	Net book value
Equity-accounted companies		10,505.2		10,590.0
UMG	18.39	7,938.6	18.43	8,015.5
Canal+	30.43	811.5	30.43	804.9
Havas Group	30.44	544.9	30.44	531.5
Louis Hachette Group	30.43	305.5	30.43	317.0
Vivendi	28.78	833.9	30.44	850.6
Other		70.8		70.4
Total		10,505.2		10,590.0
In millions of euros	At 06/30/2026		At 12/31/2025
	Percentage of ownership *	Net book value	Percentage of ownership *	Net book value
Listed shareholdings		3,777.1		3,510.9
Compagnie de l’Odet	35.83	3,431.1	35.83	3,158.1
Rubis	6.00	190.3	6.01	198.8
Socfinasia	22.25	110.8	22.25	109.0
Socfinaf	8.60	39.9	8.60	37.1
Other listed shareholdings		5.0		7.9
Unlisted shareholdings		4,559.5		4,220.6
Sofibol	48.95	2,450.8	48.95	2,260.4
Financière V	49.69	1,275.2	49.69	1,175.9
Omnium Bolloré	49.84	644.4	49.84	594.1
Other unlisted shareholdings		189.1		190.2
Total		8,336.6		7,731.5

(*) Bolloré SE’s consolidated percentage interest

Shareholder structure of the Bolloré Group as of June 30, 2026

See the organization chart in the PDF press release

Comparability of financial statements

• Performance indicators
  • At June 30, 2026, the Bolloré Group had not changed the definition of its performance indicators, particularly EBITA, which were comparable to those at June 30, 2025. EBITA and operating income data are presented before Group expenses.

• Changes in the main currencies

Average rate	06/30/2026	06/30/2025	Change
USD	1.17	1.09		7%
GBP	0.87	0.84		3%
CHF	0.92	0.94		(2%)
CAD	1.61	1.54		4%
INR	108.51	94.14		15%

Glossary

• Organic growth: at constant scope and exchange rates.
• Adjusted operating income (EBITA): operating income before the amortization of intangible assets related to business combinations (PPA: purchase price allocation), the impairment of positive and negative goodwill arising on business combinations, and other intangible assets relating to disputes with shareholders or concerning businesses no longer operated by the Group.
• EBITDA: earnings before interest, taxes, depreciation and amortization.
• Net financial debt / Net cash position: sum of borrowings at amortized cost, less cash and cash equivalents, cash management financial assets and net derivative financial instruments (assets or liabilities) with net financial debt as their underlying asset, as well as cash deposits backing borrowings.

The non-GAAP measures defined above should be considered as additional information that does not replace GAAP measures of operating and financial performance; Bolloré considers them to be relevant indicators of the Group’s operating and financial performance. Other companies may define and calculate these indicators differently. The indicators used by Bolloré may therefore not be directly comparable with those of other companies.

The percentage changes shown in this document are calculated in relation to the same period of the previous fiscal year, unless otherwise stated. Due to rounding, in this presentation, the sum of some data may not correspond exactly to the calculated total, and the percentage may not correspond to the calculated variation.
  

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(1) See glossary.
(2) Including the contribution from UMG accounted for using the equity method for +181 million euros.
(3) See glossary.
(4) Before Group costs.

(5) Operating companies accounted for using the equity method.

Attachment

• 2026 09 16 Bolloré CP résultats S1 2026 UK

JCDecaux renews its advertising contract with Düsseldorf

Paris, 16 September 2026 – JCDecaux SE (Euronext Paris: DEC), the number one outdoor advertising company worldwide, announces that Wall GmbH, a subsidiary of JCDecaux, has been awarded the exclusive advertising contract for the 2m² format in Düsseldorf, the state capital of Germany’s largest federal state, North Rhine-Westphalia, following a competitive tender process. The contract covers the advertising rights on public space as well as at the bus and tram stops of the transport operator Rheinbahn.

Düsseldorf, the state capital, is one of Germany’s most important media hubs and, with around 620,000 inhabitants, the sixth-largest city in the country. Numerous media agencies and nationally significant advertisers are headquartered there. In addition, “Königsallee”, the city centre’s renowned shopping street, is one of Germany’s most exclusive retail destinations and attracts high purchasing power, making it particularly appealing to luxury brands. Securing these advertising rights is therefore of major strategic importance and further strengthens JCDecaux’s position – following its successful tender in Hamburg – as the premium outdoor advertising company in both the German and international market.

The new contract for the exclusive advertising rights in the 2m² format for the state capital of Düsseldorf and the Düsseldorf Rheinbahn network includes 965 bus shelters as well as 143 free-standing city information panels, featuring both analogue and digital advertising faces. The number of digital screens within these panels will increase from 125 to 175.

Jean-François Decaux, Co-Chief Executive Officer of JCDecaux, said: “We have enjoyed a partnership with Düsseldorf since 1984. In close collaboration with the city, we have been able to develop one of the most attractive digital advertising networks in Germany over the past few years, thereby creating a premium, high-reach offering for both our clients and Düsseldorf. Over the coming year, we will continue to expand our digital network in Düsseldorf to create additional efficient, data-optimised and targeted communication solutions for advertisers. We would like to thank the state capital and the transport operator Rheinbahn for their continued trust in our company.”

Key Figures for JCDecaux

• 2025 revenue: €3,967.1m – H1 2026 revenue: €1,953.9m
• N°1 Out-of-Home Media company worldwide
• A daily audience of 850 million people in 78 countries
• 1,105,906 advertising panels worldwide
• Present in 3,895 cities with more than 10,000 inhabitants
• 11,894 employees
• JCDecaux is listed on the Eurolist of Euronext Paris and is part of the SBF 120 and CAC Mid 60 indexes
• JCDecaux’s Group carbon reduction trajectory has been approved by the SBTi and the company has joined the Euronext Paris CAC® SBT 1.5° index
• JCDecaux is recognised for its extra-financial performance in the CDP (A-List), MSCI (AAA), Sustainalytics (11.1), and has achieved Gold Medal status from EcoVadis
• Member of the UN Global Compact since 2015 and of the RE100 since 2019
• Leader in self-service bike rental scheme: pioneer in eco-friendly mobility
• N°1 worldwide in street furniture (636,625 advertising panels)
• N°1 worldwide in transport advertising with 154 airports and 257 contracts in metros, buses, trains and tramways (374,718 advertising panels)
• N°1 in Europe for billboards (94,562 advertising panels worldwide)
• N°1 in outdoor advertising in Europe (740,067 advertising panels)
• N°1 in outdoor advertising in Asia-Pacific (168,815 advertising panels)
• N°1 in outdoor advertising in Latin America (103,865 advertising panels)
• N°1 in outdoor advertising in Africa (31,364 advertising panels)
• N°2 in outdoor advertising in the Middle East (20,852 advertising panels)

For more information about JCDecaux, please visit jcdecaux.com.
Join us on X, LinkedIn, Facebook, Instagram and YouTube.

Communications Department: Clémentine Prat
+33 (0) 1 30 79 79 10 – clementine.prat@jcdecaux.com  

Investor Relations: Rémi Grisard
+33 (0) 1 30 79 79 93 – remi.grisard@jcdecaux.com

Attachment

• 09-16-2026 # CP Düsseldorf_EN