Fiscal 2021 Universal Registration Document

ON-SITE SERVICES REVENUES BY REGION

REVENUES BY REGION (in millions of euro)	FY 2021	FY 2020	ORGANIC GROWTH
North America	North America FY 2021 6,514	North America FY 2020 8,036	North America ORGANIC GROWTH -13.3%
Europe	Europe FY 2021 7,002	Europe FY 2020 7,308	Europe ORGANIC GROWTH -3.5%
Asia-Pacific, Latam, Middle East and Africa	Asia-Pacific, Latam, Middle East and Africa FY 2021 3,171	Asia-Pacific, Latam, Middle East and Africa FY 2020 3,210	Asia-Pacific, Latam, Middle East and Africa ORGANIC GROWTH +6.6%
ON-SITE SERVICES TOTAL	ON-SITE SERVICES TOTALFY 202116,687	ON-SITE SERVICES TOTALFY 202018,554	ON-SITE SERVICES TOTALORGANIC GROWTH-6.0%

North America remained the region the most impacted by the pandemic with sales down -13.3% in Fiscal 2021 due to the significant weight of Sports & Leisure and Education in the mix of business, which were the worst affected segments. However, the bounce-back in the second half was also the most significant. North America now accounts for 39% of On-site revenues.
Europe (representing 42% of On-site sales) was more resilient at -3.5% reflecting the faster recovery of Education and Corporate Services activity and the contribution of the large Rapid Testing Centre contract in the United Kingdom.
Asia-Pacific, Latin America, Middle East and Africa (19% of On-site Services revenues) ended the year up +6.6% with strong recovery in China and Brazil and despite the significant deterioration in India in the third quarter due to the Delta variant.

FOR THE SECOND HALF ONLY

REVENUES BY REGION (in millions of euro)	H2 FY 2021	H2 FY 2020	ORGANIC GROWTH
North America	North America H2 FY 2021 3,340	North America H2 FY 2020 2,936	North America ORGANIC GROWTH +19.4%
Europe	Europe H2 FY 2021 3,473	Europe H2 FY 2020 2,919	Europe ORGANIC GROWTH +18.5%
Asia-Pacific, Latam, Middle East and Africa	Asia-Pacific, Latam, Middle East and Africa H2 FY 2021 1,636	Asia-Pacific, Latam, Middle East and Africa H2 FY 2020 1,447	Asia-Pacific, Latam, Middle East and Africa ORGANIC GROWTH +14.4%
ON-SITE SERVICES TOTAL	ON-SITE SERVICES TOTALH2 FY 20218,449	ON-SITE SERVICES TOTALH2 FY 20207,302	ON-SITE SERVICES TOTALORGANIC GROWTH+18.0%

All regions performed well in the second half Fiscal 2021 compared to the previous year. The comparative base was particularly weak in North America and Europe, severely impacted by the pandemic. The regions ended up at 77% and 85% respectively of Fiscal 2019 levels, at constant rates. However, Asia-Pacific, Latam Middle East and Africa performed particularly well against a much less impacted comparative base and despite the effect of the delta variant in India, ending at 107% of Second half Fiscal 2019 levels, at constant rates.

Brexit

The United Kingdom left the European Union on January 1, 2020. Sodexo has been present in the United Kingdom since 1988 and has around 37,000 employees there today. The Group’s business is not materially impacted by the United Kingdom leaving the European Union. Sodexo is a local player, working with local suppliers and employees, and very often for Government authorities and Government services. In the UK, a large part ofthe services are FM, which have demonstrated their resilience during the Covid-19 pandemic. Our supply chain teams planned extensively for the EU exit and continue to manage supply carefully in partnership with our suppliers. As a result, we have not suffered any significant disruption to our supply chains. Growth in activity will remain dependent upon stand up of Covid impacted services, outsourcing trends, growth in GDP and employment in the country.

Fiscal 2021 Universal Registration Document

3. Fiscal year activity report

FOR THE SECOND HALF ONLY

Brexit