Atos Group – Another quarter of improvement in organic revenue trajectory. Strong liquidity underpinned by positive operating cash generation. On track to achieve full-year targets

Press Release

Another quarter of improvement in organic revenue trajectory

Strong liquidity underpinned by positive operating cash generation

On track to achieve full-year targets

• Recovery trajectory confirmed with continued sequential improvement in organic growth
  • Q3 2026 revenue of €1,642 million, representing a -2.4% organic decline for Atos and Eviden SBUs year-on-year, and sequentially improving, after -11.0% in Q1 2026 and -5.8% in Q2 2026
  • UK & Ireland, International Markets and France were the main contributors to the sequential improvement in organic growth
• Commercial activity reflecting usual summer seasonality
  • Order entry reached €1,024 million in Q3 2026, mostly driven by upselling activities
  • Book-to-bill (BtB) stood at c. 62%, down c. 7 pts year-on-year due to the during the summer quarter
  • Qualified pipeline slightly increased in Q3 2026, with Cybersecurity services, Data & AI and Cloud & Modern Infrastructure showing strong momentum

• Genesis continues to outperform its initial objectives, with savings targets overachieved and extended, and increasing focus on growth while simplification remains the cornerstone of all initiatives
• Key milestone reached: operations turn cash positive in Q3 for the first time since Genesis launch
  • €44 million net change in cash¹ including the significant restructuring cash impact of c. -€50 million
  • Liquidity improved to €966 million at the end of September 2026, with limited contribution of the recurring receivables factoring program at €21 million. Acceleration is expected from Q4 onward as the program continues to deploy
  • Due to slow ramp-up of the factoring program (from €8 million to €21 million), no debt was bought back on the open market during the third quarter. The Group purchased €7 million in bonds early in the fourth quarter before the closed period started.

• Acceleration in the Group’s strategic technology pillars (cybersecurity, agentic AI, digital sovereignty)
  • Launch of Atos Genesis Intelligence, our state-of-the-art end-to-end sovereign AI Suite
  • Delivery of measurable value for clients through agentic AI: Atos is deploying solutions at the heart of client operations in Europe (e.g., SPIE, UGAP and Flender), and in its own operations as Client Zero
  • AI agents available throughout the entire cyber defense lifecycle

• FY 2026 targets² confirmed
  • Organic revenue growth of around -5% (Atos & Eviden SBUs)
  • Operating margin at c. 7%
  • Positive net change in cash¹

Paris, Wednesday October 21, 2026 – Atos Group, a global leader of AI-powered digital transformation, today announces its Q3 2026 performance.

Philippe Salle, Atos Group chairman of the board of directors and chief executive officer, stated:

“The third quarter marks another important milestone in Atos Group’s recovery journey. We delivered a third consecutive quarter of sequential improvement in our organic revenue trajectory, generated cash from operations for the first time since the launch of Genesis and we continued to execute our transformation ahead of plan. These achievements are the direct results of the discipline, commitment and resilience demonstrated by our teams over the past months. While our turnaround is not complete, the foundations of a stronger and more competitive Atos Group are now firmly in place.

Our ambition now goes beyond recovery. We are focused on accelerating sustainable and profitable growth, helping our clients navigate AI-driven transformation while strengthening their digital sovereignty and cybersecurity. Our strategic offerings are gaining traction and the actions we have taken to improve portfolio quality and operational discipline are delivering tangible benefits. We remain fully focused on execution and on translating these improvements into sustainable growth and value creation.

With a strengthened balance sheet, a clearer strategic focus and encouraging commercial signals, we are confident in our ability to achieve our 2026 objectives.”

Operational performance

Group reported revenue reached €1,642 million in Q3 2026, down €50 million year-on-year at constant scope and constant perimeter.

Combined revenue for Atos and Eviden Strategic Business Units – SBU – were down -2.4% organically³ compared to the third quarter of 2025.

The Atos SBU generated reported revenue of €1,566 million, down -2.0% organically compared to Q3 2025 at current perimeter³.

The Eviden SBU reported revenue was €76 million in Q3 2026, down -10.9% organically³ compared to Q3 2025. The prior-year comparison was significantly distorted by Bull’s deconsolidation and revenue recognition timing effects, resulting in an irrelevant comparison base. Excluding that impact Eviden SBU revenues were up +5.1% organically year-on-year.

Disclosure in this section reflects the revised reporting structure of Atos Group, following the implementation of the new organization in the first half of 2025 reporting period. Atos has identified Atos France, Atos BNN (Belux, Netherlands, Nordics), Atos UK & Ireland, Atos North America, Atos GACE (Germany, Austria & Central Europe), Atos IM (International Markets), Atos Global Delivery Centers, Eviden and Global Structures as the operating segments, mirroring the internal reporting structure. This reflects the review, management and assessment of the Group’s operating results by Group Management following the implementation of the new organization.

*: at constant scope and September 2026 average exchange rates

Atos – Germany, Austria & Central Europe revenue was €333 million in Q3 2026, representing a -6.1% organic decline compared to Q3 2025. This performance was mainly driven by a few large client ramp-downs following insourcing strategies and representing a c. 3-point impact on organic growth in the quarter. It also stemmed from the managed exit of low-profitability contracts. That was partially offset by successful fertilization and cross-selling to existing clients, as well as renewed relations with former clients.

Atos – North America revenue totaled €246 million in Q3 2026, demonstrating the stabilization of the quarterly revenues since the start of the year. Year-on-year, this represented an organic decline of -19.3%, mostly driven by low profitability contract exits and a scope reduction at existing clients. The business is expected to benefit from the visibly improving commercial momentum, with significantly growing qualified pipeline year-on-year, including related to new clients.

Atos – France revenue reached €257 million in Q3 2026. This represents a new positive inflexion in the growth curve (-2.7% organically from Q3 2025 at current perimeter) with public sector remaining soft whereas other sectors have started to recover.

Atos – UK & Ireland revenue reached €323 million in Q3 2026, up +30.8% organically year-on-year and c. +8% quarter-on-quarter, representing the 4^th consecutive quarter of growth for the region. This high and unrepeatable level of growth was due to low comps in the same period last year and to continued strong momentum in 2026, boosted by new wins in the region (in both public and commercial sectors).

Atos – International Markets revenue was €233 million in Q3 2026, up +4.0% organically year-on-year and for the first time in positive territory since the launch of Genesis. The performance was broad-based, with most regions growing and Switzerland, Middle East & Turkey, and Southeast Europe delivering double-digit growth. APAC was impacted by the expected ramp-down of a large contract following the customer’s strategic insourcing of part of its IT operations.

Atos – BNN (Belux, Netherlands & Nordics) revenue stood at €172 million in Q3 2026, down -14.2% organically compared to Q3 2025 at current perimeter. The year-on-year decline was primarily driven by managed exits from low profitability contracts and ramp-downs on existing clients, with churn partially offset by growing activity at existing clients.

Eviden revenue was €76 million in Q3 2026. The prior-year comparison was significantly distorted by Bull’s deconsolidation and revenue recognition timing effects, resulting in an irrelevant comparison base. Excluding that impact, revenues were up +5.1% organically year-on-year, confirming continued positive momentum. This underlying performance was mainly driven by growth in defense activities, particularly in mission-critical systems and cyber products, the latter growing year-on-year for the first time since the launch of Genesis. This was partly offset by the continued softness in the Middle East, impacting the Vision AI activity.

Commercial activity

Since 2025, the Group has carried out a comprehensive reset of its commercial organization to improve efficiency, increase accountability and strengthen go-to-market performance. First benefits were already visible, particularly in productivity and pipeline quality.

Order entry reached €1,024 million in Q3 2026, with France, UK&I and International Markets growing year-on-year. Key contracts signed⁴ during the quarter include:

• Exclusive partnership with EDF, France’s leading energy company, for operational information system management for nuclear power plants sold out of France, mainly in Digital Applications, as well as Atos Amplify, Data & AI, Cloud & Modern Infrastructure, Digital Workplace & Cybersecurity, signed for 15 years
• Contract with the Metropolitan Police Service in London, covering application management services across Digital Applications and Cybersecurity, for up to £350 million over six years
• Framework agreement with HM Revenue & Customs (HMRC) in United-Kingdom & Ireland, covering low-code platform leadership services in Digital Applications, for up to £78 million over three years, with two optional one-year extensions
• Contract with European Space Operator, covering Eviden SkyMon NG advanced satellite monitoring within mission-critical systems, for up to €2 million over multiple years
• Contract with Barcelona City Council, covering AI-powered digital employee support in Digital Applications, for three years, with two optional one-year extensions
• Contract with Oriola Corporation, in Belux, Netherlands & Nordics covering SAP modernization and data analytics through Smart Platforms, for €15 million over multiple years

The Group book-to-bill ratio stood at 62% in Q3 2026, down c. 7 points vs Q3 2025.

• Atos SBU Q3 2026 book-to-bill was 63%, down c. 7 pts compared to the same period last year.
• Eviden SBU book-to-bill was 59% in Q3 2026, down 18 pts from the same period last year, mainly reflecting a stronger summer timing effect on contract signings than in the prior-year period.

The renewal rate reached 93% year-to-date, compared to 91% during the same period last year.

The full backlog at the end of September 2026 was €8.4 billion, representing 1.3 years of revenue. The qualified pipeline increased modestly in the quarter after c. €1,660 million increase in H1 2026.

Update on the Genesis transformation plan execution

Since the launch in 2025, Genesis execution progressed faster than initially planned, with the three-year Genesis target savings completed. The Group extended Genesis to generate further efficiencies, while continuing to deliver tangible progress across its core pillars, including the following:

• Growth and offering portfolio management, as key priorities of Genesis’ pillars going forward:
  • Accelerated initiatives to support the three strategic technology growth pillars presented at FY 2025 (agentic AI, sovereign and cyber)
  • Continued portfolio enablement supported by the new commercial Target Operating Model, with approximately 40% of planned sessions delivered across geographies, strengthening go-to-market execution across the Group
  • Strategic partner engagement further strengthened, with a satisfaction score of 8.1/10, reflecting strong confidence in future joint growth opportunities
• Simplification, as a core driver of Genesis execution:
  • Further progress in restructuring plan execution, with approximately €50 million associated cash out during the quarter
  • Billability rate reached approximately 84% at the end of the quarter

• Continued M&A simplification in Central and Eastern Europe
• Trim and simplification of bid process to streamline administrative processes

Human resources

The Group’s total headcount stood at 53,071 at the end of September 2026, representing a decrease of -2.6% compared with the beginning of July 2026, primarily driven by the continued implementation of the Genesis headcount reduction program.

During the third quarter of 2026, the Group hired 1,336 employees, (of which 90% were direct employees), while the voluntary attrition rate stood at 10.4%, vs. 14.7% in third quarter 2025.

Q3 2026 liquidity position

As a reminder, the publication of the quarterly liquidity position is part of the regular reporting requirements defined in the December 2024 credit documentation.

The Group reached a key milestone in the quarter with first time positive cash generation since the launch of the Genesis transformation plan. Net change in cash⁵ is estimated at c. +€44 million for the period, including cash restructuring costs of c. -€50 million.

This is before the estimated impacts of:

• exchange rate fluctuation for -€6 million
• M&A for -€5 million
• change in unsolicited payments received in advance of the invoice payment due date during the quarter for -€10 million
• cash movements relating to other financial assets and liabilities for -€9 million
• factoring of trade receivables for €14 million
• net fees associated with the successful refinancing of the 1L tranche of the December 2024 debt for -€9 million.

The trade receivables factoring program is expected to continue to ramp up in the fourth quarter. It provides a secure and recurring source of funding at an all-in attractive cost of 4.25%+EURIBOR 3 months. It is committed for a duration of three years on a non-recourse basis.

As of September 30, 2026, Atos Group liquidity is estimated at 966 million. This compares with €948 million as of June 30, 2026, after repayment of €857 million for 1L on July 6, 2026, and remains well above the minimum €650 million level required by the December 2024 credit documentation. It was comprised of:

Outlook

The Group confirms its fiscal year 2026 targets⁸:

• Organic revenue growth of around -5% (Atos and Eviden SBUs)
• Operating margin at c. 7%
• Positive net change in cash⁹

The Group foresees an acceleration of profitable growth and cash generation in 2027 and in 2028 and has ambitions to:

• Generate organic revenue CAGR of 5 to 7% between 2026 and 2028. Strategic, targeted and disciplined M&A could further increase revenue over the period
• Reach an operating margin of around 10% in FY 2028, supported by cost reduction measures and profitable growth, partially offset by an acceleration of R&D investments
• Achieve a leverage ratio below 1.5x net debt/OMDAL¹⁰ in fiscal year 2028. On the path to an investment grade rating, the Group expects to achieve a BB profile in 2027.

Conference call

Atos Group’s management invites you to attend the performance of the third quarter 2026 conference call on Wednesday, October 21, 2026, at 08:30 am (CEST – Paris).

You can join the webcast of the conference via the following link:

https://edge.media-server.com/mmc/p/9fe27wna

If you want to join the conference by telephone, please register via this link:

https://register-conf.media-server.com/register/BIdbcf26fcf6bc458b8d52585affe6eedf

Upon registration, you will receive the dial-in info and a unique PIN to join the call as well as an email confirmation with the details.

After the conference, a replay of the webcast will be available on Atos Group, in the investors section.

Forthcoming events

APPENDIX

Q3 2025 revenue at constant scope and exchange rates reconciliation

For the analysis of the Group’s performance, Q3 2026 revenue is compared with Q3 2025 revenue at constant scope and foreign exchange rates.

Reconciliation between the Q3 2025 reported revenue, the Q3 2025 revenue at constant scope and foreign exchange rates is presented below, by Strategic Business Unit (SBU) and by geography for the Atos SBU.

*: at constant scope in September 2026 average exchange rates

Restatement reflects a change in revenue recognition methodology.

Scope effects amounted to €-299 million, mainly related to the disposal of Advanced Computing activities, Ideal GRP, activities in South America.

Currency effects positively impacted revenue by €16 million. They mostly came from the appreciation of the US dollar, the British pound and the Chinese yuan.

Q3 YTD 2025 revenue at constant scope and exchange rate reconciliation

For the analysis of the Group’s performance, revenue for Q3 YTD 2026 is compared with Q3 YTD 2025 revenue at constant scope and foreign exchange rates.

Reconciliation between the Q3 YTD 2025 reported revenue, and the Q3 YTD 2025 revenue at
constant scope and foreign exchange rates is presented below, by segment.

*: at constant scope and September 2026 average exchange rates

Glossary

Operational capital employed: Operational capital employed comprises net fixed assets and net working capital but excludes goodwill and net assets held for sale.

Current and non-current assets or liabilities: A current and non-current distinction is made between assets and liabilities on the consolidated statement of financial position. Atos has classified as current assets and liabilities those assets and liabilities that Atos expects to realize, use or settle during its normal cycle of operations, which can extend beyond 12 months following the period end. Current assets and liabilities, excluding the current portion of borrowings, lease liabilities and provisions, and current financial instruments represent the Group’s working capital requirement.

DSO: (Days of Sales Outstanding). DSO is the amount of trade accounts receivable (including contract assets and liabilities) expressed in days of revenue (on a last-in, first-out basis). The number of days is calculated in accordance with the Gregorian calendar.

Organic growth: Organic growth represents the percent growth of a unit based on a constant scope and exchange rates basis.

CAGR: The Compound Annual Growth Rate reflects the mean annual growth rate over a specified period of time longer than one year. It is calculated by dividing the value at the end of the period in question by its value at the beginning of that period, raising the result to the power of one divided by the period length, and subtracting one from the subsequent result. As an example:

2019-2021 revenue CAGR = (Revenue 2021 / Revenue 2018) (1/3) -1

Operating margin: Operating margin equals External Revenues less personnel and operating expenses. It is calculated before Other operating income and expenses as defined below.

Other operating income and expense: 

Other operating income and expenses include:

• The amortization and impairment of intangible assets recognized as part of business combinations, such as customer relationships, technologies and goodwill
• When accounting for business combinations, the Group may record provisions in the opening statement of financial position for a period of 12 months beyond the business combination date. After the 12-month period, unused provisions arising from changes in circumstances are released through the income statement under “other operating income and expenses”
• The cost of acquiring and integrating newly controlled entities, including earn out with or without presence conditions
• The net gains or losses on disposals of consolidated companies or businesses
• The fair value of shares granted to employees including social contributions
• The restructuring and rationalization expense relating to business combinations or qualified as unusual, infrequent and abnormal. When a restructuring plan qualifies for Other operating income and expense, the related real estate rationalization & associated costs regarding premises are presented on the same line
• The curtailment effects on restructuring costs and the effects of plan amendments on defined benefit plans resulting from triggering events that are not under control of Atos management
• The net gain or loss on tangible and intangible assets that are not part of Atos core business such as real estate
• Other unusual, abnormal and infrequent income or expenses such as major disputes or litigation

Gross margin and indirect costs: Gross margin is composed of revenue less the direct costs of goods sold. Direct costs relate to the generation of products and/or services delivered to customers, while indirect costs include all costs related to indirect staff (defined hereafter), which are not directly linked to the realization of the revenue. The operating margin comprises gross margin less indirect costs.

EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization): For Atos, EBITDA is based on Operating Margin less non-cash items and is referred to as OMDA (Operating Margin before Depreciation and Amortization).

OMDA (Operating Margin before Depreciation and Amortization) is calculated as follows:

Operating margin, plus:

• Depreciation of fixed assets (as disclosed in the “financial report”)
• Depreciation of right of use (as disclosed in the “financial report”)
• Net book value of assets sold/written of (as disclosed in the “financial report”)
• Net charge (release) of provisions (composed of net charge of provisions for current assets and net charge of provisions for contingencies and losses, both disclosed in the “financial report”)
• Net charge (release) of provisions for pensions (as disclosed in the “financial report”)

OMDAL: OMDA – lease repayments.

Gearing: The proportion, expressed as a percentage of net debt to total shareholders’ equity (Group share and minority interests).

Interest cover ratio: Operating margin divided by the net cost of financial debt, expressed as a multiple.

Leverage ratio: Net debt (before IFRS 9 fair value adjustment) / OMDAL last 12 months

Operating income (loss): Operating income (loss) comprises net income (loss) before deferred and current income taxes, net financial income (expense), and share of net profit (loss) of equity-accounted investments.

Cash flow from operations: Cash flow coming from the operations and calculated as a difference between OMDA, net capital expenditures, lease payment and change in working capital requirement.

Net cash or net debt: Net cash or net debt comprises total borrowings (bonds, short-term and long-term loans, securitization and other borrowings), short-term financial assets and liabilities bearing interest with maturity of less than 12 months, less cash and cash equivalents. Liabilities associated with lease contracts and derivatives are excluded from the net debt.

Net change in cash: net change in cash is obtained by deducting from Free Cash Flow the impact of non-structural working capital optimization actions, such as unsolicited customer payments received before the invoice due date. Net change in cash excludes:

• net financial debt repayments;
• net cash inflows (outflows) from acquisitions or disposals of businesses or entities;
• capital increases, share buybacks, dividends paid to shareholders and non-controlling interests;
• cash movements relating to other financial assets and liabilities, such as deposits on escrow accounts used as cash collateral;
• foreign exchange impacts on cash.

Free Cash Flow (FCF): The Free Cash Flow represents the change in net cash or net debt, excluding capital increase, share buyback, dividends paid to shareholders and non-controlling interests, net acquisition or disposal of companies.

Earnings (loss) per share (EPS): Basic EPS is the net income (loss) divided by the weighted-average number of common shares outstanding during the period. Diluted EPS is the net income (loss) divided by the diluted weighted-average number of common shares for the period (number of shares outstanding plus dilutive instruments with dilutive effect).

Revenue: Revenue related to Atos’s sales to third parties (excluding VAT).

TCV (Total Contract Value): The Total Value of a Contract at signature (provision or estimation) over its duration represents the firm order and contractual part of the contract excluding any clause on the decision of the client, as anticipated withdrawal clause, additional option or renewal.
Order entry/bookings: The TCV, orders or amendments signed during a defined period. When an offer is won (contract signed), the total contract value is added to the backlog and the order entry is recognized.

Book-to-bill: The book-to-bill is the ratio expressed as a percentage of the order entry in a period divided by the revenue of the same period.

Backlog/Order cover: The value of signed contracts, orders and amendments that remain to be recognized over their contract lives. It may include revenue recognized on contracts based on the actual use of billable services, such as volume-based considerations. It therefore does not represent the transaction price allocated to performance obligations not yet satisfied (backlog) as defined by IFRS 15.

Pipeline: The value of revenues that may be earned from outstanding commercial proposals issued to clients. A qualified pipeline applies an estimated percentage likelihood of proposal success.

Direct Staff: Direct staff include permanent staff and subcontractors, whose work is billable to a third party.

Indirect staff: Indirect staff include permanent staff or subcontractors, who are not billable to clients. Indirect staff are not directly involved in the generation of products and/or services delivered to clients.

Disclaimer

This document contains forward-looking statements that involve risks and uncertainties, including references, concerning the Group’s expected growth and profitability in the future which may significantly impact the expected performance indicated in the forward-looking statements. These risks and uncertainties are linked to factors out of the control of the Company and not precisely estimated, such as market conditions or competitors’ behaviors. Any forward-looking statements made in this document are statements about Atos Group’s beliefs and expectations and should be evaluated as such. Forward-looking statements include statements that may relate to Atos Group’s plans, objectives, strategies, goals, future events, future revenues or synergies, or performance, and other information that is not historical information. Actual events or results may differ from those described in this document due to a number of risks and uncertainties that are described within the 2025 Universal Registration Document filed with the Autorité des Marchés Financiers (AMF) on March 10, 2026 under the registration number D.26-0075. Atos Group does not undertake, and specifically disclaims, any obligation or responsibility to update or amend any of the information above except as otherwise required by law.

This document does not contain or constitute an offer of Atos Group’s shares for sale or an invitation or inducement to invest in Atos Group’s shares in France, the United States of America or any other jurisdiction. This document includes information on specific transactions that shall be considered as projects only. In particular, any decision relating to the information or projects mentioned in this document and their terms and conditions will only be made after the ongoing in-depth analysis considering tax, legal, operational, finance, HR and all other relevant aspects have been completed and will be subject to general market conditions and other customary conditions, including governance bodies and shareholders’ approval as well as appropriate processes with the relevant employee representative bodies in accordance with applicable laws.

About Atos Group

Atos Group is a global leader in digital transformation with c. 53,000 employees and annual revenue of c. €7.2 billion, operating in 54 countries under two brands – Atos for services and Eviden for products and systems. European number one in cybersecurity and a leader in cloud, Atos Group is committed to a secure and decarbonized future and provides tailored AI-powered, end-to-end solutions for all industries. Atos Group is listed on Euronext Paris. 

Contacts

Investor Relations: investors@atosgroup.com

Individual shareholders: +33 8 05 65 00 75

Media Relations: globalprteam@atosgroup.com

¹ Net change in cash is obtained by deducting from Free Cash Flow the impact of non-structural working capital optimization actions, such as unsolicited customer payments received before the invoice due date. It excludes i/ net financial debt repayments; ii/ net cash inflows (outflows) from acquisitions or disposals of businesses or entities; iii/ capital increases, share buybacks and dividends paid to shareholders and non-controlling interests; iv/ cash movements relating to other financial assets and liabilities, such as deposits on escrow accounts used as cash collateral; and v/ foreign exchange impacts on cash

² Current perimeter corresponds to Group’s baseline for establishing future ambition: for all years, excluding the estimated impact of Advanced Computing activities, South America operations and Ideal GRP divestitures.

³ Current perimeter corresponds to Group’s baseline for establishing future ambition: for all years, excluding the
estimated impact of Advanced Computing activities, South America operations and Ideal GRP divestitures.
⁴ The amounts indicated represent a maximum cap over the term of the agreement, rather than a firm guaranteed amount.

⁵ Net change in cash is obtained by deducting from Free Cash Flow the impact of non-structural working capital optimization actions, such as unsolicited customer payments received before the invoice due date. It excludes i/ net financial debt repayments; ii/ net cash inflows (outflows) from acquisitions or disposals of businesses or entities; iii/ capital increases, share buybacks and dividends paid to shareholders and non-controlling interests; iv/ cash movements relating to other financial assets and liabilities, such as deposits on escrow accounts used as cash collateral; and v/ foreign exchange impacts on cash.

⁶ New RCF of €110 million includes available cash for €70 million and bank guarantee for €40 million.

⁷ Liquidity is defined as the sum of (i) the consolidated cash and cash-equivalent position of the Group and (ii) the amounts available under any undrawn committed facilities (including committed overdrafts). Consolidated cash and cash-equivalent includes trapped cash and unpooled cash and excludes cash held in escrow accounts in order to provide cash collateral.

⁸ Current perimeter corresponds to Group’s baseline for establishing future ambition: for all years, excluding the estimated impact of Advanced Computing activities, South America operations and Ideal GRP divestitures.

⁹ Net change in cash is obtained by deducting from Free Cash Flow the impact of non-structural working capital optimization actions, such as unsolicited customer payments received before the invoice due date. It excludes i/ net financial debt repayments; ii/ net cash inflows (outflows) from acquisitions or disposals of businesses or entities; iii/ capital increases, share buybacks and dividends paid to shareholders and non-controlling interests; iv/ cash movements relating to other financial assets and liabilities, such as deposits on escrow accounts used as cash collateral; and v/ foreign exchange impacts on cash.

¹⁰ Defined as Operating Margin before Depreciation, Amortization and Leases.

Attachment

• PR – Atos Group – Q3’26 Performance