Teleperformance : July 27, 2016 I 2016 1st Half-YearResults

PRESS RELEASE

First-Half2016Results

• SUSTAINED GROWTH IN LIKE-FOR-LIKE REVENUE*: UP+ 6.8%
• FASTER GROWTH IN THE SECOND QUARTER: UP+ 8.2% LIKE-FOR-LIKE
• FURTHER INCREASE IN EBITAMARGIN BEFORE NON-RECURRING ITEMS**TO 8.9%OF REVENUE
• ROBUST GENERATION OF NET FREE CASH FLOW***: €121 MILLION
• CONTINUED STRENGTHENING OF GLOBAL LEADERSHIP POSITION, NOTABLY INCHINA, PHILIPPINES, BRAZIL ANDPORTUGAL WITH MORE THAN8,000 ADDITIONAL WORKSTATIONS
• 2016 OBJECTIVES CONFIRMED AND REFINED

(1) Operating income before amortization of acquisition-related intangibles and excluding non-recurring items.

* At constant exchange rates and scope of consolidation

** EBITA before non-recurring items as a % of revenue

*** Internally generated funds from operations (excluding interest paid) - WCR - Net capital expenditure

"We had a good first half with like-for-like revenue growth of + 6.8% and a further improvement in our EBITA margin before non-recurring items to 8.9%, which is in line with our 2016 targets. As expected, the pace of growth was faster in the second quarter than in the first, notably in North America and the Ibero-LATAM region. In addition, Continental Europe & MEA, China and India all continued to see double-digit growth in their operations over the period.

Our growth was not only profitable but also controlled, with improved margins and liquidity management discipline both reflected in robust cash flow generation. This very good performance stems from Teleperformance's unique global leadership position. In June, Everest Group recognized us as one of the world's top-performing Contact Center Outsourcing providers for the fourth year in a row. I would like to take this opportunity to thank all of our people for driving this performance and bringing us this recognition.

Backed by our encouraging first-half results, we are confirming and refining our full-year guidance, targeting like-for-like revenue growth of around + 7% and an EBITA margin before non-recurring items of at least 10.3%."

"Teleperformance has fantastic strengths on which it can draw to win new market share in an increasingly complex environment for our businesses, shaped in particular by the new needs of the digital revolution. Innovation, the core driver of our profitable, sustainable growth, is a key focus as we work to develop the most effective omnichannel strategies combining talent management and high value-added solutions to support the world's best-known brands.

Teleperformance also has a solid balance sheet and cash flow performance that allows it to take advantage of the many remaining acquisition opportunities in the still highly fragmented customer experience and business process outsourcing services market. External growth is another key value-creation driver for Teleperformance's shareholders and clients."

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FIRST-HALF AND SECOND-QUARTER2016 REVENUE

CONSOLIDATED REVENUE

Consolidated revenue amounted to €1,689 million in the first half of 2016, representing a year-on-year increase of + 6.8% at constant exchange rates and scope of consolidation (like-for-like). On a reported basis, growth was + 1.8%. This was due to a €77 million negative currency effect arising from the decrease in certain currencies - primarily Latin American currencies such as the Brazilian real, and the Mexican, Colombian and Argentine pesos - against the euro.

Consolidated revenue for the second quarter stood at €845 million, an increase of + 8.2% like-for-like compared with + 5.5% in the first quarter. On a reported basis, growth amounted to + 2.1% due to the negative currency effect.

REVENUE BY REGION

In the first half of 2016, all of the operating regions reported satisfactory like-for-like growth, equal to or above the global market average.

The geographic breakdown continued to reflect Teleperformance's unique global leadership position. In first-half 2016, the English-speaking market & Asia-Pacific region accounted for 49% of consolidated revenue, Ibero-LATAM 24% and Continental Europe & MEA 27%.

• English-speaking market & Asia-Pacific

  Compared with the prior-year period, revenue in the English-speaking market & Asia-Pacific region rose by + 4.2% like-for- like and by + 1.7% as reported. In second-quarter 2016, regional revenue increased by + 5.9% like-for-like and by + 1.3% as reported.

  Growth slowed temporarily in the first quarter due to an unfavorable basis of comparison, but moved back into pace with the global market in the second quarter of the year. Regional business was driven, in particular, by the ramp-up of major domestic contracts in the United States in the healthcare, financial services and insurance sectors, as well as by new contracts with globally-recognized sharing economy brands. Growth was also strong in the consumer electronics sector.

  During the first half, Teleperformance continued to diversify its client portfolio in the region, by reducing its dependence on the telecommunications sector (including pay-TV), which accounted for only 26% of the region's revenue stream in 2015 compared with 30% in 2014.

  In the Asia-Pacific region, Teleperformance continued to enjoy robust business growth in China, notably with locally based North American multinationals, as well as in India.

• Ibero-LATAM

Operations in the Ibero-LATAM region expanded at a sustained pace in first-half 2016, delivering growth of + 6.9% like-for- like. On a reported basis, however, revenue declined by 5.3% from the prior-year period due mainly to a particularly unfavorable exchange rate environment shaped by the decrease against the euro of certain currencies, including mainly the Brazilian real and the Mexican, Colombian and Argentine pesos.

In the second quarter, like-for-like revenue growth accelerated significantly to + 9.8% compared with + 4.0% in the first quarter. Reported revenue declined by 2.0% over the period due to the adverse currency effect.

A very good performance from operations in Portugal fueled most of the upswing. Business is expanding at a very swift pace, lifted by recent major contracts in a variety of areas, notably among globally-recognized sharing economy brands and in the leisure sector. This new volume is being handled by multilingual hubs in Lisbon, including the newest site - City Center

• which came on stream in 2015 with 1,800 workstations.

  Although the economic environment remains depressed in Brazil, Teleperformance continues to enjoy satisfactory business growth lifted by both domestic premium clients and by the ramp-up of new contracts with North American multinationals in the financial services, consumer electronics and sharing economy sectors.

  • Continental Europe & MEA

Regional revenue rose by + 11.8% like-for-like and by + 9.3% as reported in the first half, and by + 10.8% like-for-like and

+ 7.8% as reported in the second quarter.

This strong growth reflects an ongoing network effect with global clients in several markets, in sectors ranging from consumer electronics and Internet services to e-commerce and financial services.

Performance was led by operations in the Netherlands, Greece (where clients are served by premium multilingual hubs located in Athens), the Middle East - notably Egypt and Dubai, where recently opened centers serve major Internet and consumer electronics firms - and Eastern Europe (Russia and Poland).

Revenue from the French-speaking market advanced at a satisfactory pace in the first half of 2016, driven primarily by offshore business in Morocco and Tunisia.

Teleperformance continues to support the market's growth by opening new sites, most of them offshore, and extending existing sites. Following on last year's openings in Albania, Dubai, Egypt, Lithuania and Suriname (which serves the Dutch market), Madagascar was chosen as the latest location for a new site that opened in first-half 2016.

The expansion of TLScontact, which provides visa application management services for governments, continued to have a positive impact on the region's growth, albeit less than in 2015, a year shaped by the rapid ramp-up of a contract with the