The end of 2023 has not only been rich in challenges for the Group, but also in opportunities. In this latest Newsletter, I am pleased to share two key factors that confirm Teleperformance’s strength.

First, we are delighted to announce the recent finalization of the Majorel acquisition, with over 99.9% of the company's shares tendered in the offer. This success reflects the transaction’s relevance and the potential of high value creation for our shareholders. The acquisition has driven the emergence of a new Teleperformance, one that is stronger in every way, especially in terms of geographies, verticals, and lines of expertise. It sets the stage for robust growth and global leadership over the coming years.

On a proforma basis, Teleperformance will have around 500,000 employees, more than €10 billion in revenue, over €2 billion in EBITDA and nearly €1 billion in net free cash flow. Strong financial flexibility will allow the Group to continue to grow with a highly efficient allocation of capital, including share buybacks and acquisitions.

As we embark on this promising new journey, I am delighted to welcome Majorel’s team to the Teleperformance family. Together, with our shared commitment to the core values of Integrity, Respect, Professionalism, Innovation and Commitment, we will continue to be a best-in-class example of diversity, equity, and inclusion.

Secondly, the resilience of the Group business model was demonstrated in our latest financial publication on November 6: with a like-for-like growth of +6% recorded for the first nine months of 2023, we confirm our like-for-like revenue growth target, in the low end of the +6% to +8% initial guidance range, excluding Covid contracts and the exceptional exchange rate volatility impact related to countries experiencing hyperinflation. The environment is still challenging with many US companies tightening their budgets and the evolution of consumer behavior after several years of confinement. Our profitability model is a reference with one of the highest annual EBITA margins in the industry.

We would like to thank you for your loyalty and support and look forward to presenting you further updates in early 2024 on the integration of Majorel’s operations into Teleperformance and the Group’s new medium-term objectives. In the meantime, slightly ahead of time, we wish you an excellent end-of-year break.

Daniel Julien, Chairman and Chief Executive Officer