Teleperformance : December 2023

Adapt to master the Future

Shareholders' Newsletter

DECEMBER 2023

CONTENTS

STRATEGY

ACQUISITION OF

MAJOREL:­ THE "NEW TELEPERFORMANCE"

pages 2-3

FINANCE

SOLID REVENUE GROWTH OVER THE FIRST NINE MONTHS OF 2023 AND OUTLOOK

page 4

COMMUNICATION

NEW POSITIONING: "ADAPT TO MASTER THE FUTURE"

page 5

SUSTAINABLE

DEVELOPMENT

2023 HIGHLIGHTS

page 6

SHAREHOLDER

INFORMATION

TP AI OPEN DOORS FOR INVESTORS

SHAREHOLDER INFORMATION AND CALENDAR

pages 7-8

Dear shareholders,

The end of 2023 has not only been rich in challenges for the Group, but also in opportunities. In this latest Newsletter, I am pleased to share two key factors that confirm Teleperformance's strength.

First, we are delighted to announce the recent finalization of the Majorel acquisition, with over 99.9% of the company's shares tendered in the offer. This success reflects the transaction's relevance and the potential of high value creation for our shareholders. The acquisition has driven the emergence of a new Teleperformance, one that is stronger in every way, especially in terms of geographies, verticals, and lines of expertise. It sets the stage for robust growth and global leadership over the coming years.

On a proforma basis, Teleperformance will have around 500,000 employees, more than €10 billion in revenue, over €2 billion in EBITDA and nearly €1 billion in net free cash flow. Strong financial flexibility will allow the Group to continue to grow with a highly efficient allocation of capital, including share buybacks and acquisitions.

As we embark on this promising new journey, I am delighted to welcome Majorel's team to the Teleperformance family. Together, with our shared commitment to the core values of Integrity, Respect, Professionalism, Innovation and Commitment, we will continue to be a best-in-class example of diversity, equity, and inclusion.

Secondly, the resilience of the Group business model was demonstrated in our latest financial publication on November 6: with a like-for-likegrowth of +6% recorded for the first nine months of 2023, we confirm our like-for-likerevenue growth target, in the low end of the +6% to +8% initial guidance range, excluding Covid contracts and the exceptional exchange rate volatility impact related to countries experiencing hyperinflation. The environment is still challenging with many US companies tightening their budgets and the evolution of consumer behavior after several years of confinement. Our profitability model is a reference with one of the highest annual EBITA margins in the industry.

We would like to thank you for your loyalty and support and look forward to presenting you further updates in early 2024 on the integration of Majorel's operations into Teleperformance and the Group's new medium-term objectives. In the meantime, slightly ahead of time, we wish you an excellent end-of-year break.

Daniel Julien,

Chairman and Chief Executive Officer

Cosmos	Earth	Metal	Air	Fire
Integrity	Respect	Professionnalism	Innovation	Commitment

STRATEGY ACQUISITION OF MAJOREL: THE "NEW TELEPERFORMANCE"

Teleperformance strengthens its global leadership

with the acquisition of Majorel

The "New Teleperformance", in figures*

500,000

employees in 95 countries

including 3,000 high added-value digital transformation experts

€2bn+

in EBITDA

€10bn+

in revenue

~€1bn

in net free cash flow

A well-balanced global footprint

Revenue breakdown by activity

Specialized Services

Americas **

11%45%

EMEA & APAC

44%

*Aggregated estimated 2023 figures of the two companies **North America, India, the Philippines, and LATAM

"With more than 99.9% of Majorel's shares tendered in

the offer, this success reflects the transaction's relevance and the potential of high value creation for our shareholders. The acquisition has driven the emergence of a new Teleperformance, one that is stronger in every way, especially in terms of ­geographies, verticals, and lines of expertise."

Daniel Julien, Chairman and CEO of Teleperformance

Last steps of the acquisition

October 20, 2023

Results of the offer Offer declared unconditionnal

November 3, 2023

Finalization of the acquisition Results of the offering post-acceptanceperiod > 99.9%

November 1st, 2023	November 8, 2023
1st Majorel	Settlement
consolidation

November 28, 2023	December 11, 2023
Squeeze out	Delisting of Majorel

Post acceptance	Closing	Squeeze out and Delisting
period

Shareholders' NewsletterDecember 2023 - 02

STRATEGY ACQUISITION OF MAJOREL: THE "NEW TELEPERFORMANCE"

The acquisition of Majorel provides Teleperformance with a new springboard for further growth over the next few years

With this transaction, the Group is strengthening:­

1 its global footprint, especially in Europe, including France and Germany, where Teleperformance has a relatively limited

­presence, as well as in Asia and Africa

2 its positioning in a number of high- growth potential verticals, such as

financial­ services, insurance and luxury goods

3 its high added-value lines of expertise on claim management and end-to-enddocument processing as additional

­opportunities

Synergies confirmed

Thecombinationwillcreateawiderangeofsynergies,­ in terms of both revenue and costs.

The cost synergy plan has been confirmed, with projected savings well into the initial target range of €100 million to €150 million.

The key areas for synergy opportunities are IT

(licenses,­ hardware, procurement, etc.), site ­management and cost mutualization.

Saham Group and Bertelsmann Group, former reference shareholders of Majorel, each take up 3.6% of Teleperformance's capital, for a total ­holding of 7.2%

In addition, Moulay Hafid Elalamy, founder of the Saham Group, is set to join Teleperformance's Board of Directors in early 2024.

Countries in which

Teleperformance operates

Top 10 countries in which Teleperformance operates by headcount

Countries served
Majorel's main operations	CLICK HERE to access the documentation related
	to the Majorel acquisition online

Shareholders' Newsletter December 2023 - 03

FINANCE SOLID REVENUE GROWTH OVER THE FIRST NINE MONTHS OF 2023 AND OUTLOOK

"We expect to return nearly €600 million in cash to shareholders in 2023"

Three questions for Olivier Rigaudy,

Deputy CEO and Group CFO

01	What are the key takeaways from the	03	What is the Group's policy in terms of
revenue announcement for the first	cash return to shareholders?
	nine months of 2023?		We expect to return nearly €600 million
Revenue for the first nine months of 2023	in cash to shareholders in 2023, resulting from
amounted to €5,949 million, representing an	dividends for €227 million and share buybacks for
increase­	of +6.0% on a like-for-like basis, excluding	around €350 million.
the impact of the year-on-year decline in the	In August 2023, the Group launched a share
contribution from Covid contracts. This like-for-like	buyback program for a total amount of up to
growth was satisfactory, even as the economic and	€500 million. The opportunity arose from the
geopolitical environment remained uncertain. It	Group's strong cash flow generation, its unrivaled,
reflects the resilience and diversity of	industry-leading performance in a challenging
Teleperformance's client portfolio by region, by	macroeconomic environment, and its future
industry and by service line.	growth prospects, none of which were properly
This performance is notably underpinned by solid	reflected in its stock price.
gains in operations in Europe and in India, and in	Teleperformance's financial flexibility is solid. The
Specialized Services, as well as robust momentum	Group has an investment capacity of around
in the social media, content moderation, financial	€1 billion. Following the acquisition of Majorel and
services and healthcare sectors.	completion of this share buyback program, the
		Group's net debt leverage remains under control,
02	What is the outlook for the full year?	at around 2.0x*, which will enable it to continue
The environment is still challenging, with	developing in key markets in the years ahead.
	many US companies tightening their	* Based on est. 2023 aggregated annual figures for
budgets and consumer behavior evolving post
Teleperformance and Majorel.
Covid. We are targeting satisfactory like-for-like
revenue growth in the low end of the 6% to 8%
initial guidance range, excluding the impact of
lower revenue from Covid support contracts and
hyperinflation in Turkey and Argentina. In addition,		CLICK HERE
we confirm our EBITA margin target. Following
the acquisition, Majorel will be consolidated as of		to access the first nine months 2023
	revenue press release published on
November 1, 2023.		November 6, 2023

TELEPERFORMANCE SHARE PRICE (IN €)*

OVER 10 YEARS

450

400

350

300

250

200

150

+178%

100

50

+80%

CAC 40

0

07/02/2015

01/02/2016

07/02/2016

07/02/2017

01/02/2019

07/02/2019

07/02/2020

07/02/2021

07/02/2022

02/07/2022

01/02/2023

07/02/202312/15/2023

01/02/2014

07/02/2014

01/02/2015

01/02/2017

01/02/2018

07/02/2018

01/02/2014

01/02/2021

* Compared to the CAC 40 index rebased Teleperformance share price as of January 1, 2014

KEY FIGURES

FIRST NINE MONTHS 2023 REVENUE:

€5,949m

+6.0% like-for-like,

excluding­ impact of Covid contracts*

REVENUE BY ACTIVITY (€m)

6,002 5,949

8421,009 +17.1%*

			+9.9%*
1,976		1,888
			+1.8%*
1,237		1,179
1,947		1,873	-0.2%*
9M 2022	9M 2023
North America	LATAM
& APAC
Europe & MEA	Specialized
(EMEA)	Services

• At constant scope of consolidation and exchange rates, and excluding the impact of lower revenue from Covid support contracts

FULL-YEAR 2023 GUIDANCE CONFIRMED

• Like-for-likerevenue growth in the low end of the +6% to +8% initial guidance range*
• EBITA margin target of around 16%
• Consolidation of Majorel from November 1, 2023

CASH RETURN TO

SHAREHOLDERS­OF NEARLY €600 MILLION BY END-2023

• Share buybacks
• Dividends

• At constant scope of consolidation and exchange rates, and excluding the impact of lower revenue from Covid support contracts and excluding the
  exchange­ rate volatility impact related to countries with hyperinflation­

SUCCESSFUL ISSUE OF €1.4BN IN LONG-TERM BONDS, MORE THAN 5.1X OVER-SUBSCRIBED

This outcome illustrates the market's confidence in Teleperformance's creditworthiness and its "BBB" Standard & Poor's rating. The proceeds of the bonds will be used to refinance the Majorel acquisition.

Two tranches were issued:

• a 5-year senior bond for €700 million with a 5.25% coupon,
• an 8-year senior bond for €700 million, with a 5.75% coupon.

Shareholders' Newsletter December 2023 - 04

COMMUNICATION NEW POSITIONING: "ADAPT TO MASTER THE FUTURE"

Adapt to

Master the Future

ADAPT	to MASTER
Today, more than	Teleperformance is a global
ever, technological	leader in digital business
innovations mean	services, blending the best
adapting to change.	of advanced technology with
	human empathy.

the FUTURE

To meet the evolving needs of its clients and the world's biggest brands, Teleperformance is accelerating its digital transformation, relying notably on artificial intelligence to make its solutions simpler, faster and safer.

Shareholders' Newsletter December 2023 - 05

SUSTAINABLE DEVELOPMENT 2023 HIGHLIGHTS

DIVERSITY & INCLUSION

Teleperformance strengthens its commitment to Impact Sourcing

NOVEMBER 2023

The Group joined the Impact Sourcing Alliance,

whose mission is to support sharing Impact Sourcing information and best practices globally among Business Process Outsourcing (BPO) players.

JUNE 2023

Teleperformance has also committed to recruiting 500 refugees

over the next three years in Europe in partnership with Tent Partnership for Refugees (Tent).

CLICK HERE

to read the June 22, 2023 press release

DID YOU KNOW?

Impact Sourcing refers to initiatives designed to offer job opportunities to people facing barriers to employment.

Around20%oftheGroup'sworkforcecomesfrom these programs, the vast majority of whom are young people without qualifications.

GREAT PLACE TO WORK®

Fortune ranks Teleperformance among World's Top 5 Best Workplaces in 2023

The results of the Great Place to Work® survey, collected from 14.8 million employees worldwide, have ranked Teleperformance among the top 25 global leaders for the third consecutive year.

More than 99% of Teleperformance employees work in a Great Place to Work®-certified location.

CLICK HERE

to read the November 20, 2023 press release

LATEST NEWS

World Clean-up Day

Employees around the world took part in World Clean-upDay on September 16, 2023.

	Global agreement between
	Teleperformance and UNI
	Global Union
	Global agreement between
Partnership with	The global agreement between
Teleperformance and UNI
Feed the Children	Teleperformance and UNI Global Union
Global Union
	has been implemented in Colombia,
For the start of the 2023 school year,	Romania,The globalPoland,agreementJamaica and ElbetweenSalvador
Teleperformance has provided	sinceTeleperformanceit was signedaindDecemberUNI Global2022Union.
more than 2,800 American families	has been implemented in Colombia,
with school supplies and food, in	Romania, Poland, Jamaica and El Salvador
partnership with Feed the Children.	CLICK HERE
since it wasto readsignedthe UNI'sin Decemberpress release2022.
	published on December 13, 2023

Shareholders' Newsletter December 2023 - 06

SHAREHOLDER INFORMATION TP AI OPEN DOORS FOR INVESTORS

Concrete examples of using AI in core Teleperformance operations

TP AI Open Doors in Zoetermeer, Netherlands

"TP AI Open Doors was organized on September 21, 2023, at Zoetermeer (Netherlands) and Santa Clara (United States) sites. The event gave more than 65 investors and analysts the opportunity to understand how the Group has been improving its performance by integrating artificial intelligence into its operations for several years. We are convinced that new technologies remain a major lever of growth and excellence for Teleperformance and its partners."

Bhupender Singh, Deputy Chief Executive Officer and President of Group Transformation

Presentation by Samsung on its partnership with Teleperformance

Enthusiastic testimonials from investors on

TP AI Open Doors

Samsung is one of the world's largest producers of electronic devices. Samsung Benelux and Teleperformance have built a solid partnership over almost a decade. Investors were highly impressed by the concrete and comprehensive presentation by Daan van der Mijden, Samsung Benelux's Senior Director of Customer Service.

"I was very honored to present the partnership with Teleperformance at TP AI Open Doors. This

partnership­ has transformed Samsung customer experience by setting up a 24/7 service combining bots and human advisors, enabling

Daan van der Mijden, advisors to focus on complex Senior Director Customer queries."

Service, Samsung

"The event highlighted the significant use of AI throughout the organization and also highlighted the complications of AI and its ability to disrupt human interaction"

summarized a North American investor.

"Meeting Samsung's representative was incredibly useful to understand the clients' perspective. (…)

Also really appreciated having videos of concrete examples of bots and real agent use cases" commented a French investor.

TP AI Open Doors in Santa Clara, United States

CLICK HERE

to ask the TP AI Open Doors presentation

LATEST NEWS ON ARTIFICIAL INTELLIGENCE

Teleperformance deploys AI solutions ­leveraging ServiceNow cloud platform

Thanks to a single simplified knowledge management system and automation of certain transactional tasks, Teleperformance enhances the employee experience, increases producivity and transforms its operations.

Teleperformance expands Microsoft

­partnership by launching TP GenAI, a generative AI platform

Teleperformance leverages Microsoft Azure artificial intelligence tools to deliver a better customer experience.

CLICK HERE	CLICK HERE
to read the June 13, 2023 press release	to read the June 20, 2023 press release

Shareholders' Newsletter December 2023 - 07

SHAREHOLDER INFORMATION

AWARDS

With a score of 70/100, up 4 points vs. 2022, Teleperformance is well above the 46/100 average for its sector. The marked

increase­ in the social criterion (+9 points) highlights the Group's efforts to promote diversity and inclusion, social dialogue, employee development and respect of human rights. Its steady rise since 2019 (+15 points) confirms the validity of its CSR approach.

Teleperformance's Investor Friendly approach recognized once again in the Institutional Investors Extel

annual ranking

based on investor votes (survey results published in September 2023). The Group was ranked in the Top 1 or 2 in five different categories within the Business & Employment Services sector in Europe.

SHARE INFORMATION

LISTING

Euronext Paris, compartment A

Symbols:

Euronext ticker: TEP - ISIN: FR0000051807

Reuters: TEPRF.PA - Bloomberg: TEP FP

Euronext sector classification:

Professional Business Support Services (ICB)

Number of outstanding shares: 63,443,054 as of December 15, 2023

Market capitalization:

€7.8bn as of December 15, 2023

Global indices: CAC 40, STOXX 600, S&P Europe 350, MSCI Global Standard et Euronext Tech Leaders

ESG indices: CAC 40 ESG (since 2022) Euronext Vigeo Euro 120 (since 2015), EURO STOXX 50 ESG (since 2020), MSCI Europe ESG Leaders (since 2019), FTSE4Good (since 2018), et S&P Global 1200 ESG (since 2017)

ESG Ratings MSCI : A

CAPITAL

In September 2023, the Group had nearly 530 identified institutional investors, broken down geographically* as follows:

16%22%

3%

35%

		24%
Continental Europe	Asia &	United
(excluding France)	Middle East	Kingdom
North	France	& Ireland
America

*Based on the country of the company owning the shares

Following the finalization of the Majorel acquisition, Teleperformance's shareholding structure changed as follows (as of December 15, 2023):

2.0% 3.6%* 3.6%*

4.1 %

11,0%

76%

Daniel	Saham	Bertelsmann
Julien	Group	Group
Treasury	Retail	Others
shares	shareholders	(institutionnal
		investors mainly)

*New shareholders

SE - Investor Relations and Financial Communication department. Design-production: agence C2C BY COMON / TMBRS

SAVE THE DATE	March 6, 2024	2023 Annual Results
(indicative agenda)	April 30, 2024	First-quarter 2024 revenue
	Second half 2024	Capital Market Days
		(event date will be announed soon)

Publication management: Teleperformance

Investor Relations and Financial Communication department

21-25, rue Balzac - 75008 Paris

[e-mail]

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