CEVA LOGISTICS Consolidated Financial Annual Report 2020 ...

1 CEVA LOGISTICS Consolidated Financial Statements 2020 Consolidated Accounts Full Audited version is available on the CMA CGM Investor Relations website Annual Report 2020 Consolidated Accounts Full Audited version is available on the CMA CGM Investor Relations website CEVA LOGISTICS CEVA LOGISTICS AG Annual Report 2020 2 Consolidated Financial Statements 2020 Table of Contents Consolidated Income Statement .. 3 Consolidated Statement of Comprehensive Income .. 4 Consolidated Balance 5 Consolidated Statement of Cash Flows .. 6 Consolidated Statement of Changes in Equity .. 8 Notes to the Condensed Consolidated Financial statements .. 9 Cautionary statement: This document contains forward looking statements which are subject to risk factors associated with, amongst others, the economic and business circumstances occurring from time to time in the countries and markets in which the Group (as defined below) operates.

2 It is believed that the expectations reflected in these statements are reasonable but they may be affected by a wide range of variables, which could cause actual results to differ materially from those currently anticipated. Note: There may be small differences due to rounding between this Report and other second quarter 2020 investor materials. CEVA LOGISTICS AG Annual Report 2020 3 Consolidated Income Statement 1 Refer to Note 7 for details on specific items and non-cash share-based compensation costs (SBC). 2 EBITDA as presented, excludes net finance income/(expense), income tax income/(expense), depreciation, amortization and share of profit from joint ventures. The accompanying notes are an integral part of the condensed Consolidated Financial statements. YEARS ENDED 31 DECEMBER$ millionsNote20202019 Before specific items and SBCS pecific items and SBC1 TotalBefore specific items and SBCS pecific items and SBC1 TotalRevenue67,416 - 7,416 7,124 - 7,124 Work contracted out(3,863) - (3,863) (3,579) - (3,579) Personnel expenses8(2,231) 2 (2,230) (2,213) (24) (2,237) Other operating expenses(709) - (709) (796) (18) (814)

3 Operating expenses excluding depreciation, amortization and impairment(6,803) 2 (6,802) (6,588) (42) (6,630) EBITDA2613 2 614 536 (42) 494 Depreciation property, plant and equipment13(58) - (58) (60) - (60) Depreciation right-of-use assets14(390) - (390) (379) - (379) Amortization and impairment12(31) - (31) (24) - (24) Operating income134 2 135 73 (42) 31 Finance income920 - 20 15 - 15 Finance expense9(169) (51) (220) (181) (19) (200) Foreign exchange gain/(loss)9(10) (14) (24) 2 - 2 Net finance income / (expense)(159) (65) (224) (164) (19)

4 (183) Share of profit from joint venture179 - 9 17 - 17 Profit/(Loss) before income taxes(16) (63) (79) (74) (61) (135) Income tax income/(expense)103 - 3 (35) 4 (31) Profit/(Loss) for the period(13) (63) (76) (109) (57) (166) Attributable to:Non-controlling interests(1) - Equity holders of the Company(75) (166) CEVA LOGISTICS AG Annual Report 2020 4 Consolidated Statement of Comprehensive Income 1 Refer to Note 7 for details on specific items and non-cash share-based compensation costs (SBC).

5 The accompanying notes are an integral part of the Consolidated Financial statements. YEARS ENDED 31 DECEMBER$ millions20202019 NoteBefore specific items and SBCS pecific items and SBC1 TotalBefore specific items and SBCS pecific items and SBC1 TotalProfit/(Loss) for the period(13) (63) (76) (109) (57) (166)Items that will not be reclassified to Profit and Loss:Remeasurements of retirement benefit obligations(6) - (6) (9) - (9)Tax effects of items in OCI1 - 1 1 - 1 Items that may be reclassified subsequently to Profit and Loss.

6 Net investment hedges4 - 4 4 - 4 Cash flow hedges(6) 36 30 (15) - (15)Currency translation adjustment(6) (11) (17) 7 - 7 Total comprehensive income/(loss) for the period, net of income tax(25) (38) (64) (121) (57) (178) Attributable to:Non-controlling interests (1) - Equity holders of the Company (63) (178)Total comprehensive profit/(loss) for the period(64) (178) CEVA LOGISTICS AG Annual Report 2020 5 Consolidated Balance Sheet The accompanying notes are an integral part of the Consolidated Financial statements.

7 AS AT 31 DECEMBERAS AT 31 DECEMBER$ millionsNote20202019 ASSETSNon-current assetsIntangible assets and Goodwill121 464 1 390 Property, plant and equipment 13206 173 Right-of-use assets141 168 1 200 Investments in joint ventures17109 100 Deferred income tax assets 10136 104 Prepayments35 38 Other non-current assets55 65 Total non-current assets 3 173 3 070 Current assetsInventory 4 5 Trade and other receivables151 418

8 1 142 Prepayments54 51 Contract assets6139 149 Income tax receivable16 17 Derivative Financial instruments51 9 Other current assets2 - Cash and cash equivalents 16463 684 Total current assets 2 097 2 057 TOTAL ASSETS5 269 5 127 EQUITYC apital and reserves attributable to equity holdersShare capital18538 175 Share premium1 352 1 230 Acquisition reserve11(93) (93) Other reserves2 301 2 293 Accumulated deficit(3 461) (3 386)

9 Attributable to equity holders of the Company637 219 Non-controlling interests4 1 Total Group equity 641 220 LIABILITIESNon-current liabilitiesBorrowings191 150 1 410 Lease liability14880 891 Deferred income tax liabilities 1019 13 Retirement benefit obligations20117 109 Provisions 2167 71 Other non-current liabilities47 24 Total non-current liabilities 2 280 2 518 Current liabilitiesBorrowings1916 357 Lease liability14355 361 Provisions2186 98 Trade and other payables 221 767 1 477 Contract liabilities650 37 Income tax payable28 31 Derivative Financial

10 Instruments546 28 Total current liabilities2 348 2 389 TOTAL EQUITY AND LIABILITIES5 269 5 127 CEVA LOGISTICS AG Annual Report 2020 6 Consolidated Statement of Cash Flows * Cash and cash equivalents include bank overdrafts that are repayable on demand and form an integral part of the Group s cash management. The Group has introduced a new presentation of the Cash Flow Statement in the Financial Statements for the year ended 31 December 2020. The following changes have been introduced compared to the presentation of the comparable period (comparative period figures have been represented accordingly): Changes in provisions includes both non-current and current provisions.