REXEL IN 2017 SALES In the full year, Rexel posted sales of €13,310.1 million up 1.1% on a reported basis. On a constant and depreciation of the US dollar and the British pound same-day basis, sales were up 3.5%, including a 1.4% against the euro, positive impact due to the change in copper-based A negative scope effect of €61.4 mi l l ion (i.e. • cable prices. -0.5% of FY 2016 sales), mainly resulting from divestments (Poland, Slovakia, Baltics and South The 1.1% increase in sales on a reported basis East Asia), partly offset by the acquisition of Brohl included: & Appell in the US, •A negative currency effect of €161.6 mi l l ion •A negative calendar effect of 0.6 percentage (i.e. -1.2% of FY 2016 sales), mainly due to the points. PROFITABILITY Adjusted EBITA up Opex (including depreciation)were broadly stable 6.1% year-on-year at 20.1% of sales. As a result, Adjusted EBITA stood at €580.1 million, in line with guidance up 6.1% at 4.4% of sales, up 13 bps year-on-year. In the full year, gross margin stood at 24.4% of sales,Reported EBITA stood at €594.3 million in the full up 16 bps year-on-year, thanks both to North Americayear (including a €14.2 m positive one-off copper (up 43 bps at 22.5% of sales) and Europe (up 7 bps ateffect) up 10.1% year-on-year. 26.8% of sales) and offsetting the deterioration in Asia-Pacific (down 44 bps at 17.8% of sales). NET INCOME Recurring net income up •Amortization of intangibles resulting from purchase 16.4% to price al location amounted to €19.0 mil lion (vs. €18.7 million in 2016), €291.2 million •Other income and expenses amounted to a netcharge of €253.0 mi l l ion (vs. a net charge of year-on-year €124.0 million in 2016). They included: Net income decreased to – €44.1 million restructuring costs (vs. €59,3 million €104.9 million in 2016), – A charge of €133.7 mi l l ion from goodwi l l in 2017, mainly due to goodwill impairment in Germany (€86.2 million), in Finland impairment (€34.5 million) and New-Zealand (€13.0 million) and a loss on asset disposals of €68.7 mil lion, Operating income in the ful l year stood at including a €57.6 mil lion loss from South East €322.3 million, vs. €397.0 million in 2016. Asia divestment in Q4. CONVENING NOTICE OF THE COMBINED SHAREHOLDERS’ MEETING 10