Illustrative Annual Accounts - Deloitte

1 W Illustrative Annual Accounts in accordance with luxembourg gaap June 2018 Illustrative Annual Accounts in accordancewith luxembourg gaap |June 20181 Table of contents Foreword3 General Information5 Legal framework in luxembourg as used in this brochure6 Abbreviations7 Scope9 Size criteria and consequences11 General accounting principles15 Presentation of the Annual accounts23 Commission des Normes Comptables( CNC ) or the luxembourg Accounting Standard Committee24 Audit of the Annual accounts27 Filing and publication of the Annual Accounts and other information32 Special conditions applicable to parent companies and subsidiaries42 Country-by-country reporting46 Illustrative Annual Accounts47 Annual accountsandreport of the R viseurd Entreprises Agr 48 Management report50 Report of the R viseur d EntreprisesAgr /Independent auditor s report58 Balance sheet76 Profit and loss account82 Notes to the Annual

2 Accounts86 Illustrative Annual Accounts in accordancewith luxembourg gaap |June 20182 Supplement for Consolidated Accounts188 Introduction189 Requirement to prepare consolidated accounts189 Scope of the consolidation190 Exemptions191 Accounting principles195 Presentation of the consolidated accounts196 Publication196 Appendices204 Appendix- List of the main references to the Accounting and Company Laws205 Appendix - IRE Taxonomy guidelines (extract from the Technical note 2010-01 of IRE)211 Appendix - Practical aspects of the filing process214 Appendix - eCDF format217 x Balance sheet and profit and loss account217 x Abridged balance sheet and abridged profit and loss account224 Appendix - Standard chart of accounts229 Appendix - Other possible layoutsfor the consolidated accounts259 Appendix - General information regarding the filing and the publication of the Annual accounts265 Appendix - New numbering of the Law of 10 August 1915- Concordance table268 Your

3 Contacts287 Illustrative Annual Accounts in accordancewith luxembourg gaap |June 20183 Illustrative Annual Accounts in accordance with luxembourg gaap | June 2018 ForewordIllustrative Annual Accounts in accordancewith luxembourg gaap |June 20184 Dear Readers, The principles guiding the preparation of the Annual Accounts in luxembourg arebased on legislationestablishedwithin the Grand Duchy; including but not limited to,the Law of 10 August 1915 on commercial companies, the Law of 19 December 2002 on the register of commerce and companies and the accounting and Annual Accounts of undertakings, and the Law of 10 December 2010 relating to the introduction of has also implementedEU Directives such asthe Fair Value Directive, the Modernisation Directive or the Transparency Directive.

4 The amendments sometimes raised questions on the interpretation and application of some new further step in improvingthe consistency in the application of some provisions wasthe Law of 30 July 2013 reforming the Commission des normes comptables which providedclarifications and guidance tousers in the preparation of the Annual that context, this brochure provides an Illustrative template of the Annual Accounts of an Undertaking under luxembourg gaap . The template complies with the luxembourg legal and regulatory requirements relating to the preparation of the Annual Accounts andit provides guidelines based on best practices.

5 This version of the brochure incorporates the latest developments to the Accounting and Company Law, applicable at the date of the issue of this guide. It does not anticipate any future amendment of the law. This Illustrative brochure seeks to give guidance and provide practical examples to preparers and reviewers on how to present the financial position and results of a luxembourg Undertakingin compliance with local laws and generallyaccepted accounting principles. It furtherprovides references to applicable Articles of relevant laws and proposes a format of presenting information in a logical and easy-to-read manner.

6 The proposed disclosures presented herein represent our view of current best practices. These should however not be considered as the only acceptable form of presentation. The form and content of the Company s Annual Accounts are the responsibility of its information has been included in order to help the readers and provideuseful guidelines for thepreparationand filing of their Annual Accounts . In that context, this publication also includes: the requirements to audit the Annual Accounts and a taxonomy of the auditor fees, the contents of the management report, the eCDF forms, the standard chart of Accounts , practical points regarding the filing procedureandthe list of the CNC case the Annual Accounts are prepared in accordance withIFRS, we refer to the Deloitte Model Financial statements for the year ended 31 December 2017 available in our website If you are interested in a comparison between the luxembourg gaap and the IFRS.

7 We also refer to our publication IFRS versus LUX gaap , also availableon our hope you find these Illustrative Annual Accounts helpful and encourage you to contact us for furtherdiscussion or additional information. Christiane ChadoeufPartner - Audit LeaderRapha l CharlierPartner - Audit John Psaila Managing Partner Illustrative Annual Accounts in accordancewith luxembourg gaap |June 20185 Illustrative Annual Accounts in accordance with luxembourg gaap | June 2018 General InformationIllustrative Annual Accounts in accordancewith luxembourg gaap |June 20186 Legal framework in luxembourg as used in this brochureLaw of 10 August 1915, on commercial companies, as amended(the Company Law )

8 (the numbering of its articles and sections has been reorganised by Grand-Ducal Regulation of 5 December 2017)Law of 19 December 2002, on the register of commerce and companies and the accounting and Annual Accounts of undertakings, as amended (the Accounting Law )Law of 19 May 2006 on the takeover of 11 May 2007 on the soci t de gestion de patrimoine familial (the SPF )Grand-Ducal Regulation of 10 June 2009 on the content and presentation of a standard chart of accountLaw of 10 December 2010, relating to the introduction of International Financial Reporting Standards (IFRS)

9 And the modernisation of Company Accounting LawGrand-Ducal Regulation of 14 December 2011, amending the regime in relation to the filing of Accounts by entities with the luxembourg register of commerce and companies1 Law of 30 July 2013, reforming the Commission des normes comptables (CNC - Accounting Standards Co mmission) a nd amending various pr ovisions relating to companies' accounting Law of 18 December 2015, on Annual and consolidated Accounts transposing Directive 2013/34/EU of t he European Parliament and of the Council of 26 June 2013 relating to Annual financial statements, consolidated financial statements and reports of certain types of companiesGrand-Ducal Regulation of 18 December 2015, in relation to Annual Accounts and consolidated Accounts .

10 Determining the form and content of the layouts of the Balance Sheet and of the Profit and Loss accountLaw of 23 July 2016 concerning the audit profession (the Audit Law )Grand-Ducal Regulation of 15 December 2016, introducing certain derogation from the standardised Balance Sheet and Profit and Loss account layouts, as set out in Article 27 of the Accounting Law and repealing the Grand-Ducal Regulation of 29 June 1984 determining the specific forms for a SPF to establish its Annual accountsLaw of 23 December 2016 transposing Directi