Teleperformance : 2021 First-Half Results – Press release

PRESS RELEASE

Record growth in first-half 2021 revenue and earnings; full-year guidance raised

• Record +36.8% like-for-like revenue growth in first-half 2021
• Sharp increase in EBITA before non-recurring items and a margin of 14.0%**, above pre- Covid levels
• Net profit - Group share quadrupled to €255 million
• Net free cash flow up +73.4% to €333 million
• Full-year2021 targets for like-for-like* revenue growth and operating margin raised

PARIS, July 28, 2021 - The Board of Directors of Teleperformance, a leading global group in digitally integrated business services, met today and reviewed the consolidated financial statements for the six months ended June 30, 2021. The Group also announced its half-year financial results.

Record growth in revenue and earnings

▪ Revenue: H1 2021:	€3,431 million, up +36.8% like-for-like*, up +29.0% as reported
Q2 2021:	€1,719 million, up +37.7% like-for-like*, up +31.5% as reported

• EBITA before non-recurring items: €479 million, up +89.5% vs. H1 2020

for a margin of 14.0% vs. 9.5% in H1 2020

• Net profit - Group share: €255 million, vs. €63 million in H1 2020

▪ Net free cash flow:

€333 million, up +73.4% vs. H1 2020

Operating highlights and the Group's agile, responsible transformation

• Still accelerating market digitalization
• Consolidation of a hybrid business model thanks to the deployment of the TP Cloud Campus platform - a remote, cloud-basedcustomer experience management solution - in 52 countries at end-Junevs. 32 countries at end-2020,and nearly 240,000 employees working from home
• Significant growth in support services for government vaccination campaigns in continental Europe and the United Kingdom
• A strong commitment to employees, with operations in 60 countries representing more than 90% of the workforce now certified as Best Employers; roll-out of vaccination services for Group employees in India, the Philippines, Colombia, the Dominican Republic and many other countries

Outlook: 2021 financial objectives raised

• Robust business development, particularly with leading digital economy companies in e-tailing, logistics, social media and online entertainment
• Like-for-like*full-year revenue growth of around +18%, versus the previous target of at least +12%
• An EBITA margin before non-recurring items of more than 14.5%, versus the previous target of at least 14.0%
• Acquisition of Health Advocate completed on June 22, 2021

*At constant scope of consolidation and exchange rates **EBITA margin before non-recurring items

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The alternative performance measures (APMs) are defined in Appendix 3	1/17

Teleperformance SE (Societas Europaea). Share capital of €146,844,000. 301 292 702 RCS Paris. 21-25 rue Balzac, 75406 Paris Cedex 08 France. Siret 301 292 702 00059. Code APE 6420Z.

Commenting on this performance, Teleperformance Chairman and Chief Executive Officer Daniel Julien said: "Teleperformance set a new growth record in first-half2021, with revenue up +36.8% like-for-like.This excellent first-halfperformance confirms the very positive trends in place since the second half of 2020 and far exceeds a simple return to pre-pandemicgrowth trends. With an operating margin of 14%, exceeding pre- crisis levels, and a more than +70% increase in cash flow generation, this growth was profitable and helped to create value for all our partners, reflecting the strength of our business model.

In particular, during the first six months of the year, we benefited from the sustained strong pace of business development, notably in continental Europe and in the Ibero-LATAMregion, where a large number of contracts were signed with leading players in the digital economy. The Group was also actively involved in support services for government vaccination campaigns, mainly in the Netherlands and the United Kingdom. Excluding these temporary support activities, and despite the continuing negative effects on the visa management business and the hospitality and tourism sectors, the Group's like-for-likegrowth remained at an exceptional level, surpassing +20%. Lastly, we benefited from favorable prior-yearcomparatives, which were impacted by the global health crisis that began in March 2020.

Our growth is also responsible with around 240,000 employees still working from home, creation of numerous jobs around the world and progress in the development of ESG best practices. This strong commitment to employees can be seen in the Best Employer certifications earned by our operations in 60 countries, representing more than 90% of our total workforce. With the pandemic still raging in many countries around the world, free in-housevaccination programs have been deployed to ensure employee safety, particularly in India, the Philippines, Colombia and the Dominican Republic.

Based on this very good first half, and despite the expected decline in the contribution from government health support services as from the second half, we are raising our full-yeartargets, to like-for-likerevenue growth of around +18% and an operating margin of more than 14.5%.

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NB: The alternative performance measures (APMs) are defined in Appendix 3

2/17

Teleperformance SE (Societas Europaea). Share capital of €146,844,000. 301 292 702 RCS Paris. 21-25 rue Balzac, 75406 Paris Cedex 08 France. Siret 301 292 702 00059. Code APE 6420Z.

INTERIM FINANCIAL HIGHLIGHTS

	H1 2021	H1 2020
€ millions
	€1 = US$1.21	€1 = US$1.10
Revenue	3,431	2,660
Reported growth	+29.0%	+3.7%
Like-for-like growth		+5.0%
+36.8%
EBITDA before non-recurring items		450
678
% of revenue	19.8%	16.9%
EBITA before non-recurring items		253
479
% of revenue	14.0%	9.5%
EBIT	398	154
Net profit - Group share	255	63
Diluted earnings per share (€)	4.31	1.08
Net free cash flow		192
333

FIRST-HALF AND SECOND-QUARTER 2021 REVENUE

CONSOLIDATED REVENUE

Consolidated revenue came in at €3,431 million for the first half of 2021, representing a year-on-year increase of +36.8% at constant exchange rates and scope of consolidation (like-for-like) and +29.0% as reported. The difference between reported and like-for-like growth was due to an unfavorable currency effect (-€153 million) stemming mainly from the decline against the euro of the US dollar, the main Latin American currencies and the Indian rupee.

These sharp gains in revenue, which far exceeded a simple return to pre-pandemic growth trends, were primarily driven by continued strong sales momentum in the Core Services & D.I.B.S. business, in an environment shaped by faster development of the digital economy. The deployment of Covid-19 support services for governments also helped boost revenue. Adjusted for this item, like-for-like growth nevertheless remained above +20%. Specialized Services revenue also trended upwards over the period, led by strong growth at LanguageLine Solutions and the emerging recovery in the TLScontact visa application management business in the second quarter. In every business, the basis of comparison was favorable from March to May, the peak months of the global health crisis in 2020.

Second-quarter 2021 revenue came in at €1,719 million, slightly outpacing the first quarter's +35.9% gain with a +37.7% like-for-like increase year-on-year. This primarily reflected the faster second-quarter growth in Specialized Services, which was led by the upturn in TLScontact's business, with a particularly favorable basis of comparison over the quarter. Reported revenue growth came to +31.5%, including the unfavorable currency effect stemming from the decline against the euro in the US dollar and, to a lesser extent than in the first quarter, the main Latin American currencies and the Indian rupee.

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NB: The alternative performance measures (APMs) are defined in Appendix 3

3/17

Teleperformance SE (Societas Europaea). Share capital of €146,844,000. 301 292 702 RCS Paris. 21-25 rue Balzac, 75406 Paris Cedex 08 France. Siret 301 292 702 00059. Code APE 6420Z.

REVENUE BY ACTIVITY

	H1 2021	H1 2020**	% change
€ millions			Like-for-like	Reported
CORE SERVICES & D.I.B.S.*	3,075	2,344	+38.7%	+31.2%
English-speaking & Asia-Pacific (EWAP)	992	856	+23.7%	+15.9%
Ibero-LATAM	895	711	+35.4%	+25.9%
Continental Europe & MEA (CEMEA)**	977	583	+70.4%	+67.6%
India**	211	194	+17.2%	+8.8%
SPECIALIZED SERVICES	356	316	+22.5%	+12.7%
TOTAL	3,431	2,660	+36.8%	+29.0%
	Q2 2021	Q2 2020**	% change
€ millions			Like-for-like	Reported
CORE SERVICES & D.I.B.S.*	1,539	1,165	+37.8%	+32.1%
English-speaking & Asia-Pacific (EWAP)	484	425	+20.7%	+14.0%
Ibero-LATAM	454	355	+33.5%	+27.8%
Continental Europe & MEA (CEMEA)**	495	299	+68.1%	+65.7%
India**	106	86	+29.9%	+22.8%
SPECIALIZED SERVICES	180	142	+37.6%	+26.5%
TOTAL	1,719	1,307	+37.7%	+31.5%

• Digital Integrated Business Services
• 2020 data from the CEMEA and India regions have been restated on a pro forma basis following the integration into the CEMEA region on January 1, 2021 of former Intelenet activities in the Middle East, which were previously included in the India & Middle East region (renamed India since January 1, 2021)

• Core Services & Digital Integrated Business Services (D.I.B.S.)

Core Services & D.I.B.S. revenue amounted to €3,075 million in first-half 2021, a year-on-yearlike-for-like increase of +38.7% that amply outperformed the market. Reported revenue growth came to +31.2%, with the difference primarily reflecting the decline against the euro of the US dollar and, to a lesser extent, the main Latin American currencies and the Indian rupee.

In the second quarter, like-for-like revenue growth came to +37.8%, as sustained strong business development in the CEMEA and Ibero-LATAM regions was supported by the faster expansion of the digital economy, particularly in the e-tailing and online entertainment segments. The hospitality and tourism segments returned to growth during the second quarter, while Covid-19 support services also continued to be deployed for governments, particularly in the CEMEA and EWAP region.

1. English-speaking& Asia-Pacific (EWAP)

In first-half 2021, revenue for the region came to €992 million, up +23.7% like-for-like. The reported gain of +15.9% included an unfavorable currency effect stemming primarily from the US dollar's decline against the euro. Like-for-like revenue growth in the second quarter came to +20.7%.

Operations in the North American market reported satisfactory like-for-like growth in the first half, with a faster gain in the second quarter. Performance was led by the e-tailing, online entertainment, automotive

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NB: The alternative performance measures (APMs) are defined in Appendix 3

4/17

Teleperformance SE (Societas Europaea). Share capital of €146,844,000. 301 292 702 RCS Paris. 21-25 rue Balzac, 75406 Paris Cedex 08 France. Siret 301 292 702 00059. Code APE 6420Z.

and consumer electronics segments. The hospitality and tourism segments, which had been hard hit by the health crisis, began to bottom out in June. Nevertheless, the pace of recovery was dampened over the first half by the temporary labor shortage in the US domestic labor market.

Business in the United Kingdom rose very quickly in the first half, with the large-scale deployment of Covid- 19 support services for the government during the period. Delivery continued into the second quarter, albeit at a slower pace than in the first, mainly due to the less favorable comparatives since the services were first rolled out in second-quarter 2020. Their declining contribution is therefore expected and will have a significant impact on the growth projected for the second half. Business in other segments continued to benefit from the solid sales momentum, particularly in consumer electronics and energy.

In Asia, business enjoyed another period of fast growth, although comparatives were less favorable in the second quarter, given that the health crisis began and ended earlier last year, especially in China. Revenue gains in China were driven by contract ramp-ups with global leaders in the consumer electronics and e-tailing segments. The multilingual hubs in Malaysia continued to post very strong gains, thanks mainly to the contribution from recently signed contracts in the social media and online entertainment segments.

1. Ibero-LATAM

First-half 2021 revenue for the Ibero-LATAM region amounted to €895 million, a year-on-year increase of +35.4% like-for-like. On a reported basis, growth came out at +25.9%, with the difference primarily reflecting the decline against the euro of the Brazilian real, the Colombian peso and the Argentinian peso.

Second-quarter revenue growth amounted to +33.5% like-for-like. The region maintained a very strong pace of growth thanks to the numerous contract wins with e-clients as they quickly and effectively embraced the work-from-home model. As in most of the other host regions, the impact of the health crisis on prior-year comparatives means that growth in the second half, while still sustained, should be slower than in the first six months.

Sharp gains were recorded in Colombia and by the Group's nearshore operations in Mexico, Dominican Republic and El Salvador. Activities in Portugal and Spain also reported solid revenue growth, led by the strong gains from their multilingual hubs serving global market leaders in the digital economy.

The e-tailing, online entertainment, consumer electronics and financial services segments were particularly dynamic, while the travel and hospitality segments enjoyed a brisk upturn in business beginning in May. Lastly, the online food services, automotive and healthcare segments ramped up quickly in the second quarter.

1. Continental Europe & MEA (CEMEA)

Revenue for the CEMEA region totaled €977 million in first-half 2021, representing year-on-year growth of +70.4% like-for-like. Reported growth stood at +67.6%, primarily due to the decline in the Turkish lira and Russian ruble against the euro.

Like-for-like growth in the second-quarter came to +68.1%, maintaining the first quarter's excellent trend.

Around two-thirds of the region's first-half growth stemmed from the sustained fast ramp-up during the period of support services for government vaccination campaigns in the Netherlands and, to a lesser extent, in France and Germany. Given the higher basis of comparison in second-half 2020, particularly due to the start-up of the "Covid contracts", growth in second-half 2021 should be lower than in first-half.

The remaining third of the region's first-half 2021 growth was led by the fast-expanding business with multinational clients, particularly in the e-tailing and online entertainment segments. This was the case in Greece (multilingual hubs), for the German- and French-speaking markets, and in the Netherlands, Italy, Turkey and Egypt. The hospitality and tourism segments bottomed out early in the second quarter.

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NB: The alternative performance measures (APMs) are defined in Appendix 3

5/17

Teleperformance SE (Societas Europaea). Share capital of €146,844,000. 301 292 702 RCS Paris. 21-25 rue Balzac, 75406 Paris Cedex 08 France. Siret 301 292 702 00059. Code APE 6420Z.