Veolia Environnement : Appendix Consolidated Financial Statements December 2020 (currently being reviewed by statutory auditors)

Contents

Consolidated Financial Statements

Consolidated Statement of Financial Position

Consolidated Income Statement

Consolidated Statement of Comprehensive Income

Consolidated Cash Flow Statement

Statement of Changes in Equity

Notes to the Consolidated Financial Statements

FINANCIAL STATEMENTS

Consolidated financial statements

Consolidated financial statements

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Consolidated Statement of Financial Position-Assets

As of December 31,	As of December 31,
(€ million)	Notes	2019	2020
Goodwill	Note 9.1	5,128.0	5,888.9
Concession intangible assets	Note 9.2.1	3,517.4	3,544.9
Other intangible assets	Note 9.2.2	1,372.6	1,371.3
Property, plant and equipment	Note 9.3	7,679.8	8,216.6
Right of use (net)	Note 9.4	1,664.6	1,529.5
Investments in joint ventures	Note 7.2.4	1,497.7	1,020.8
Note 7.2.4
Investments in associates	382.5	353.9
Non-consolidated investments (*)	52.4	3,102.2
Non-current operating financial assets	Note 7.4	1,431.2	1,198.1
Non-current derivative instruments - Assets	Note 10.3	39.0	53.4
Other non-current financial assets	Note 10.1.2	374.6	427.3
Deferred tax assets	Note 13.2	952.9	1,036.5
Non-current assets	24,092.7	27,743.6
Inventories and work-in-progress	Note 7.3	792.0	797.7
Operating receivables	Note 7.3	9,341.7	9,106.2
Current operating financial assets	Note 7.4	86.0	172.8
Other current financial assets	Note 10.1.2	738.5	1,073.2
Current derivative instruments - Assets	Note 10.3	91.5	174.8
Cash and cash equivalents	Note 10.1.3	5,843.3	5,840.0
Assets classified as held for sale	Note 5.3	33.3	455.7
Current assets	16,926.3	17,620.3
TOTAL ASSETS	41,019.0	45,363.9

(*) As of December 31, 2020, non-consolidated investments consist of Suez shares for €3,046.0 million (see Note 4) and other securities for €56.2 million, compared with €52.4 million as of December 31, 2019.

The accompanying notes are an integral part of these consolidated financial statements.

CONSOLIDATED FINANCIAL STATEMENTS - DECEMBER 31, 2020 VEOLIA ENVIRONNEMENT

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FINANCIAL STATEMENTS

Consolidated financial statements

Consolidated Statement of Financial Position - Equity and Liabilities

As of December 31,

(€ million)	2019	As of December 31, 2020
Share capital	Note 11.2.1	2,836.3	2,893.1
Additional paid-in capital	7,197.9	7,291.8
Deeply-subordinated perpetual securities	Note 11.4	-	1,987.1
Reserves and retained earnings
attributable to owners of the Company	Note 11.2	(4,100.5)	(4,955.8)
Total equity attributable to owners
of the Company	Note 11.2	5,933.7	7,216.2
Total equity attributable to non-
controlling interests	Note 11.3	1,144.7	1,098.5
Equity	7,078.4	8,314.7
Non-current provisions	Note 12	1,848.7	1,846.8
Non-current financial liabilities	Note 10.1.1	9,366.8	10,836.4
Non-current IFRS 16 lease debt	Note 10.1.1	1,417.9	1,296.8
Non-current derivative instruments -
Liabilities	Note 10.3	52.4	65.5
Concession liabilities - non-current	Note 7.5	1,421.7	1,459.9
Deferred tax liabilities	Note 13.2	984.4	1,094.4
Non-current liabilities	15,091.9	16,599.6
Operating payables	Note 7.3	11,753.6	11,850.4
Concession liabilities - current	Note 7.5	128.3	145.6
Current provisions	Note 12	539.1	510.7
Current financial liabilities	Note 10.1.1	5,443.7	7,196.7
Current IFRS 16 lease debt	Note 10.1.1	465.7	402.9
Current derivative instruments -
Liabilities	Note 10.3	197.8	117.9
Bank overdrafts and other cash position
items	Note 10.1.3	302.2	217.6
Liabilities directly associated with
assets classified as held for sale	Note 5.3	18.3	7.8
Current liabilities	18,848.7	20,449.6
TOTAL EQUITY AND LIABILITIES	41,019.0	45,363.9

The accompanying notes are an integral part of these consolidated financial statements.

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VEOLIA ENVIRONNEMENT / CONSOLIDATED FINANCIAL STATEMENTS - DECEMBER 31, 2020