Societe Financiere des Caoutchoucs S A : HYFR Socfin - Consolidated financial statements 30.06.2023 EN

INTERIM FINANCIAL REPORT

HALF-YEAR ENDED 30TH JUNE 2023

(UNAUDITED)

SOCFIN GROUP

4, Avenue Guillaume • 1650 Luxembourg • Luxembourg • T : + 352 44 28 77 • E: [e-mail] • www.socfin.comRC Luxembourg B 6225

Société Financière des Caoutchoucs " SOCFIN "	3
Board of Directors	3
Chief Financial Officer	3
Independent statutory auditor	3
Registered office	3
Statement of compliance	4
Management report on the interim consolidated financial statements at 30th June 2023	5
Activities	5
Portfolio	5
Consolidated income	5
Consolidated statement of financial position	5
Consolidated cash flow	6
Outlook 2023	6
Distribution of an interim dividend	6
Consolidated financial statements	7
Consolidated statement of financial position at 30th June 2023 (unaudited)	7
Consolidated income statement for the period from 1st January to 30th June (unaudited)	9
Consolidated statement of other comprehensive income for the period from 1st January to 30th June (unaudited) ....	10
Consolidated statement of cash flows for the period from 1st January to 30th June (unaudited)	11
Consolidated statement of changes in equity for the period from 1st January to 30th June (unaudited)	12
Notes to the IFRS consolidated financial statements at 30th June 2023	14
Note 1. Overview and accounting policies	14
Note 2. Subsidiaries and affiliates	15
Note 3. Property, plant and equipment	16
Note 4. Biological assets	17
Note 5. Leases	18
Note 6. Depreciation and impairment expense	19
Note 7. Inventories	20
Note 8. Share capital	21
Note 9. Financial debts	21
Note 10. Trade and other payables	23
Note 11. Financial Instruments	24
Note 12. Other financial income	26
Note 13. Financial expenses	26
Note 14. Dividends	26
Note 15. Information on related party	27
Note 16. Off balance sheet commitments	27
Note 17. Segmental information	28
Note 18. Profit before interest, taxes, depreciation and amortisation (EBITDA)	32
Note 19. Events after the closing date	32

Socfin - Interim financial report 30/06/2023 - p. 2

Société Financière des Caoutchoucs " SOCFIN "

Board of Directors

Mr. Hubert Fabri	Chairman
Mr. Vincent Bolloré	Director
Mr. Cyrille Bolloré	Director
Mr. François Fabri	Director
Mr. Philippe Fabri	Executive Director

Chief Financial Officer

Mr. Daniel Haas

Independent statutory auditor

Ernst & Young S.A. "EY"

Registered office

4, avenue Guillaume L-1650 Luxembourg

Telephone:	(+352)	44 28 77
Telefax:	(+352)	44 28 77 50
E-mail:	[e-mail]
Internet:	www.socfin.com

Socfin - Interim financial report 30/06/2023 - p. 3

Statement of compliance

Mr. Philippe Fabri, Executive Director and Mr. Daniel Haas, Chief Financial Officer, indicate that, to the best of their knowledge,

1. the interim consolidated financial statements prepared for the period ended at 30th June 2023, in accordance with the international accounting standards adopted by the European Union, provide a true and fair view of the assets and liabilities, the financial position and the profits or losses attributable to Socfin and all of the entities included in consolidation; and
2. the interim management report fairly presents the evolution and results of the Company, the financial position of the Group and all the entities included in the consolidation and a description of the main risks and uncertainties they face.

Socfin - Interim financial report 30/06/2023 - p. 4

Management report on the interim consolidated financial statements at30th June 2023

The Board of Directors meeting held on 22nd of September 2023 reviewed the interim consolidated financial statements at 30th June 2023.

These interim consolidated financial statements have not been audited, nor have they been subject to a limited review by the independent statutory auditor.

Activities

The Company holds interests in companies that operate directly or indirectly in Africa and South-East Asia, in the production of rubber and palm oil.

Portfolio

There were no changes in the portfolio during the first half of 2023.

Consolidated income

At 30th June 2023, the consolidated result attributable to the Group amounts to EUR 29.7 million compared to EUR 61.3 million at 30th June 2022. This results in a net profit per share of EUR 2.10 compared to EUR 4.33 at 30th June 2022.

Consolidated revenue for the six months ended 30th June 2023 amounts to EUR 474.1 million compared to EUR 546.4 million in the previous period (EUR -72.3 million). This decrease in turnover is mainly due to the decrease in prices (EUR -20.0 million), the exchange rate between the sales currencies to the reporting currency

(EUR -28.0 million), and by a decrease in quantities sold (EUR -13.7 million).

Operating profit amounts to EUR 137.0 million compared to EUR 214.1 million at 30th June 2022.

EBITDA amounts to EUR 167.5 million versus EUR 232.8 million during the first half of 2022.

Financial expenses amount to EUR 24.9 million at 30th June 2023 compared to EUR 31.9 million at 30th June 2022. They mainly include foreign exchange losses for EUR 18.0 million compared to EUR 25.8 million last year and interest expenses of EUR 5.5 million compared to EUR 5.1 million during the previous period.

Other financial income amount to EUR 7.8 million (EUR 15.7 million at 30th June 2022). They mainly consist of foreign exchange gains of EUR 5.8 million compared to EUR 15.2 million last year.

The income tax expense amounts to EUR 47.8 million as compared to EUR 58.4 million during last period due to the decrease in profit before taxes.

The deferred tax income amounts to EUR 0.7 million at 30th June 2023 (compared to a deferred tax expense of EUR 4.9 million at 30th June 2022).

Consolidated statement of financial position

At 30th June 2023, Socfin's total balance sheet amounts to EUR 1,168 million compared to EUR 1,191 million at 31st December 2022.

Socfin's assets consist of:

• non-currentassets amounting to EUR 783.9 million compared to EUR 817.0 million at 31st December 2022, a decrease of EUR 33.2 million mainly due to the foreign exchange difference on property, plant and equipment (impact of EUR -39.3 million);

Socfin - Interim financial report 30/06/2023 - p. 5