Sodexo Group Presentation

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SodexoGroup PresentationNovember, 2017

FORWARD-LOOKING INFORMATIONThis presentation contains statements that may be considered asforward-looking statements and as such may not relate strictly tohistorical or current facts.These statements represent management’s views as of the datethey are made and Sodexo assumes no obligation to update them.Figures have been prepared in thousands of euro and publishedin millions of euro.Alternative Performance Measures:please refer to Appendix 8 for definitions (from slide 78 to 81).2- Sodexo Group Presentation, November 2017

AGENDA1. Sodexo at a glance2. Fiscal 2017 highlights3. Solid Financial Performance in Fiscal 20174. Review of operations Fiscal 20175. Introducing Underlying Operating Profit6. Outlook7. Shareholder & Investor relationsAppendices3- Sodexo Group Presentation, November 2017

SODEXO AT A GLANCE

SODEXO AT A GLANCE 20.7 bn revenues427,000 employeesemployer19th largestworldwide100 Founded in 1966 by Pierre Bellon Main Shareholders as at 31/08/2017: Bellon S.A 40.4% of capital (55.8% of actual voting rights) International Institutional investors 37.7% French Institutional investors 15.0%million consumersserved daily80 countries 16 bnmarketcapitalizationNovember 15, 20175 - Sodexo Group Presentation, November 2017Strong InvestmentGrade S&P “A-/A-1”

AN ENGAGED WORKFORCESodexo at a glance6 - Sodexo Group Presentation, November 2017

OUR MAJOR STRENGTHSSodexo at a glanceIndependenceA global networkcovering80 countries7 - Sodexo Group Presentation, November 2017A unique range ofQuality of Life Servicesparticularly well alignedwith evolving client demandUndisputedleadership indevelopingeconomiesA robustfinancial modelthat allows Sodexoto self-finance itsdevelopmentSignificantmarketpotentialA strong cultureand engagedteams

WORLD LEADER IN QUALITY OF LIFE SERVICESSodexo at a glanceON-SITESERVICESAn unrivaled array of services :PERSONAL ANDBENEFITS ANDREWARDS SERVICES HOME SERVICES8 client segments:5 service categories:3 service categories: Corporate Services Energy andRessources (RemoteSites) Defense Justice Sports & Leisure Health Care & Seniors Education Employee Benefits Incentives andRecognition Employee mobilityand Expensemanagement Public Benefits Gift boxes and cards Childcare In-Home SeniorCare Concierge services8 - Sodexo Group Presentation, November 2017page 8

FISCAL 2017 REVENUE SPLIT: 20.7 bnSodexo at a glanceDistributionby geographic regionRevenue by segment21% Health Care& Seniors4% Benefits and RewardsServices51% Business &Administrations24%Education96% On-Site Services4%9 - Sodexo Group Presentation, November 2017

SODEXO’S VALUE PROPOSITIONSodexo at a glance Maximizing value added with a unique and differentiating offer DESIGNMANAGEDELIVER adapted to client priorities :Increase peoplesatisfaction, motivationand effectivenessEnhance processesquality, efficiencyand productivityImprove infrastructureand equipment utilization,reliability and safetyTo deliver Enhanced Quality of life to client employees Support for client development and achievement of objectives10 - Sodexo Group Presentation, November 2017

INTEGRATED QUALITY OF LIFE SERVICES OFFERSodexo at a glance11 - Sodexo Group Presentation, November 2017

BENEFITS AND REWARDS: THE PASS CYCLESodexo at a glanceSODEXO PASSPayment ofthe valueCLIENTSDeliveryof the PassReimbursementof the valuePresentationof the Pass forreimbursementAFFILIATEDMERCHANTS12 - Sodexo Group Presentation, November 2017Distributionof the PassUseof the PassBENEFICIARIES

SODEXO’S DEVELOPMENT - 50 years of historySodexo at a glance1966Sodexofounded byPierreBellonAcquisitions200519831971 - nched1995GardnerMerchant, UKPartenaSweden13 - Sodexo Group Presentation, November 2017IPO of Sodexo on Parisstock exchange1985 - 1993Internationaldevelopment:Americas, Russia,South Africa & Asia1998-2001Sodexo Marriot ServicesUS2001Sogeres FranceWood Dining Services US2016Sophie BellonMichel Landelbecomesbecomes CEO, PierreChairwomanofBellon remainsthe Board ofChairman of the Board2009Directorsof DirectorsSodexo reviews itsstrategic positioning2007-2010VR BrazilScore Groupe and CrècheAttitude, FranceZehnacker, GermanyComfort Keepers &Circles, USRKHS, India2011-20132014-2016Motivcom,UKPuras do Brasil,Inspirus USBrazilLenôtre, France PSL, UKRoth Bros, USMacLellan, India

REGULAR AND SUSTAINED PERFORMANCESodexo at a glance25 000Revenues (in millions) 4.5% CAGR over 10 years20 0001 2001 00060010 0004005 000200002007 2008 2009 2010 2011 2012 2013 2014 2015 2016 20172007 2008 2009 2010 2011 2012 2013 2014 2015 2016 20171 000 5.5 % CAGR over 10 years80015 0001 200Operating Profit ( in millions)Operating Cash flow (in millions) 6.7% CAGR over 10 years800Net Income ( in millions) 7.6% CAGR over 10 years600800400600400200200002007 2008 2009 2010 2011 2012 2013 2014 2015 2016 201714 - Sodexo Group Presentation, November 20172007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

REGULAR AND SUSTAINED SHAREHOLDER RETURNSSodexo at a glanceEPS (in )65 8.1% CAGR over 10 years5Dividend (in ) 9.1% CAGR over 10 years44332211002007 2008 2009 2010 2011 2012 2013 2014 2015 2016 201715 - Sodexo Group Presentation, November 20172007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

FISCAL 2017 HIGHLIGHTS

KEY MESSAGES ON GROWTHFY 17Fiscal 2017 highlightsORGANIC GROWTHin line with revised growthguidance1*IMPROVED Q4ORGANIC GROWTH 1.9%including Q4 acceleration in organic growth17 7.7% 6.8%53rdBENEFITS & REWARDSSERVICESweek booststrong organic growth Headwinds disappearing: Q1 0.8% excluding Rugby comparative base Q2 1.7% Q3 1.5% Q4 3.6%, excluding 53rd week› E&R continued improvement:› French tourism recovery in high season› France positive trend- Sodexo Group Presentation, November 2017 1Q1 -4.5%Q2 -0.8%Q3 4.3%Q4 5.0%, excluding 53rd weekGuidance on revenue organic growth changed in July 2017 to 1.5% To 2% vs around 2.5% previously* Please refer to Appendix 8 for Alternative Performance Measures definitions

KEY MESSAGES ON PERFORMANCEFY 17Fiscal 2017 highlightsSolid operating performance:Strong Operating profit1growth 10.2%TOTALGROWTHOperating profit margin1increased 8.4% 50BPS 40 IncreasedAcquisitions/ ParticipationsAdaptation & SimplificationProgram on track 306m spent 20.7% 150m savings in FY2017 220m for FY 2018gross contribution to revenues1218Net profit growthbefore non recurring items* 14.0%TOTALGROWTH 13.0%EXCLUDINGCURRENCY*Basic EPSbefore non recurring items*5.52 15.7%TOTALGROWTH 14.7%EXCLUDINGCURRENCY*Before exceptional expenses, see Alternative Performance MeasuresNet acquisitions 268m net financial investments of 38m- Sodexo Group Presentation, November 2017* Please refer to Appendix 8 for Alternative Performance Measures definitions

GROWTH INDICATORS ONSITE SERVICESFY 17Fiscal 2017 highlightsClient retentionComparableunit ng53rd weekFiscal 2016Fiscal 201719 - Sodexo Group Presentation, November 20172.1%1.5%Fiscal 2016Fiscal 2017Fiscal 2016Fiscal 2017

CONTRACT WINSFY 17Fiscal 2017 highlightsMomentumin FacilitiesManagementcontractsComparableunit growth20- Sodexo Group Presentation, November 2017Department ofWork & Pensions(DWP)GovernmentAgencies contractin the UKJohnson & JohnsonCorporate contractin 42 countriesCompañia MineraLomas BayasEnergy & Resourcescontractin ChileBangkok HospitalPhuketHealth Care contractin ThailandCampbellCorporate contractin NoramChicago PublicSchoolsSchools Contractin the US

CONTRACT WINSFY 17Fiscal 2017 highlightsPick upin foodDevelopmentin Benefits& RewardsServices21- Sodexo Group Presentation, November 2017MichelinCorporate contractin FranceServicios de Aguade MonterreyMeal cardsin MexicoHospital BeneficiênciaPortuguesaHealth Care contractin BrazilSTIP-MIVBMeal cardsin BelgiumGoogleCorporate contractin IndiaPague MenosFood & Meal cardsin Brazil

CONTRACT RENEWALSFY 17Fiscal 2017 highlightsAirbusCorporate contractin France22United Services AutomobileAssociation (USAA)Corporate contractin the USVan OordAberdeen Football ClubEnergy & Resources contractworldwideSports & Leisure contractin the UK- Sodexo Group Presentation, November 2017Prisons Région NordJustice contractin FranceJUNAEBPublic Benefits servicein Chile

RECOGNITIONFY 17Fiscal 2017 highlightsSodexo scoreshighest marks of thesector in RobecoSAM’s“SustainabilityYearbook” 2017 for10th consecutive year23- Sodexo Group Presentation, November 2017Sodexo is now aconstituent of theFTSE4Good IndexFor the 7th year in a row,Sodexo is among theFORTUNE World’s MostAdmired Companies,and was recently rankedFortune’s 2017 list ofcompanies that arechanging the worldSodexo named the toprated company in itssector on the Dow JonesSustainability Index(DJSI) for the13th consecutive year

CORPORATE COMMITMENTFY 17Better Tomorrow 2025The roadmap has evolved in alignment with the UN sustainabledevelopment goals to advance and reinforce our responsible behaviorContributing to eradicateWORLD HUNGERSupportingWOMEN’S EMPOWERMENTFighting againstWASTEIn 2016, through Stop Hunger,113,000 volunteersdistributed5.7 millions mealsSodexo’s Partner InclusionProgram drives diversity amongsuppliers and merchantsCreated “WasteWatch powered byLeanPath”, a global food wasteprevention programN 4 in Equileapworldwide genderequality rankingUnited NationsWEPs signed in24 countries24- Sodexo Group Presentation, November 2017Founding memberof the InternationalFood Waste Coalition

RESEARCH AND THOUGHT LEADERSHIPFY 17Fiscal 2017 highlightsThe Quality of LifeConference exploring newsolutions for tomorrow’sneedsSodexo decoded Gen Zwith Global Lifestyle Surveyof University Students25- Sodexo Group Presentation, November 2017In collaboration with the University ofOttawa, Sodexo released a study todeepen our understanding of the fivesenses from seniors perspectives

M&A ACCELERATINGFY 17Fiscal 2017 HighlightsEnriching offerin the USAin the UKin the UKin the UKin Belgiumin Polandin the USAin Israelin Puerto RicoIn Singaporein the USAin ChinaStrategic moveTechnical ExpertiseConsolidatingpositionsNet investments: 306m in Fiscal 201711 Net26acquisitions 268m net financial investments 38m, including Sodexo Ventures- Sodexo Group Presentation, November 2017in the UKin Australia 650m committedsince year end

CENTERPLATEFY 17A leading event hospitality provider for North America and the UKCOMPANY OVERVIEWA WELL DIVERSIFIED PORTFOLIO¹ Food and beverage service providerConvention Centers8% 40,000 events and 100m guests annually c.250 venues, in North America,the UK and Spain 32%22%North America92%SportsEntertainment4thlargest operator by revenuesin the US Sports & Leisure market38% 3 business lines: Convention Centers Sports Entertainment c.30,000 employees 12-months revenues to June 2017: 998 million27 - Sodexo Group Presentation, November 2017UK¹ 2016 revenue breakdownRECOGNISED EXPERTISE – SELECTED AWARDS“Best Food and Beverage”#1 NFL Experience5 Years Running, Convene MagazineStadium Journey“America’s Best Stadium Food”Travel Leisure Magazine

FY 17CENTERPLATE SODEXOSPORTS & LEISURE TRANSFORMEDNORTH AMERICA STRENGTHENEDS&LDoublingrevenuesSodexo S&LCurrent revenuesSodexo S&L revenuesplus CenterplateS&LFrom 472 to700 B&AHealthcaresites operatedBusiness mixAirlineConference lounges& Convention 12%Centres21%Sports28%Culturaldestinations39%28- Sodexo Group Presentation, November 2017EducationB&AHealthcareEducationFrom 12,500 to122,50040,000 150,000 employeesemployeesemployees

CENTERPLATE CONTRIBUTION TO SODEXO FINANCIALSA leading event hospitality provider for North America and the UKP&LBALANCE SHEET 8 months contribution to revenues ( 500 million) Consideration 675m Brings contribution of external growth to date forFiscal 2018 2.5% Brings total Sodexo commitments since YE 650m Before synergies, slight dilution to margins in Fiscal2018 Doubles Sodexo net debt net debt ratio includingcommitments at Fiscal 2017 year end 0.8 With synergies, margins will be in linewith Group North American margins Mild Net profit accretion from Fiscal 2018CASHFLOW Strong cash generating business,with significant retail operations Expected capex / sales 3%29FY 17- Sodexo Group Presentation, November 2017VALUATION RATIOS EV/revenues 0.7x EV/pro forma EBIT post synergies 9-10x

SOLID FINANCIAL PERFORMANCE IN FISCAL 2017

ORGANIC GROWTHFY 17Solid financial performanceREVENUE GROWTH 2.2%Currency effect-0.1%Scope changes 0.4%ORGANIC GROWTH 1.9%of which:31On-site ServicesBenefits and Rewards Services 1.7% 7.7%RugbyImpact53rd weekeffectExcluding both,organic growth-0.6% 0.7% 1.6%- Sodexo Group Presentation, November 2017

STRONG IMPROVEMENT IN OPERATING PROFITFY 17Solid financial performanceOperating marginBefore exceptional 50 bps 40 bpsTOTAL GROWTHEXCLUDINGCURRENCYEFFECT5.9%1,326expenses1 millions1,203Operating profit6.4% At current exchange rates 10.2% 8.4%TOTALGROWTHEXCLUDINGCURRENCYEFFECT *Before exceptional expenses1FY 20161 Costs32FY 2017of implementation of the Adaptation and Simplification program ( 137m in Fiscal 2017 and 108m in FY 2016)- Sodexo Group Presentation, November 2017* Please refer to Appendix 8 for Alternative Performance Measures definitions

ADAPTATION PROGRAM DELIVERING ON TRACKFY 17Solid financial performanceOBJECTIVES Success of the program:multitude of cost reduction projects submitted by the teams Faster alignment of on-site operating expenses Organizational simplification Generate annual savings for Fiscal 2018 equivalent to about 90%of the exceptional costs ( 220m) Increased international pooling of resources millionsEXCEPTIONALIMPLEMENTATIONCOSTSTOTALover 18 monthsFiscal 2016SUSTAINABLECUMULATEDANNUALSAVINGSFiscal 2017Objective forFiscal 2018and each year after33- Sodexo Group Presentation, November 2017108 in FY 2016137 in H1 2017245(Sept. 2015-Feb. 2017)32150 220

PERFORMANCE IN THE P&LFY 17Solid financial performanceCHANGEFY 2017FY 2016At currentexchange ratesExcludingcurrency effect20,69820,245 2.2% 2.3%1,3261,203 10.2% 8.4%6.4%5.9% 50 bps 40 bps(137)(108)1,1891,095(105)(111)Effective tax rate31.7%33.7%Group net profitBefore non recurring items2822721 14.0% 13.0%Group net profit723637 13.5% 12.2% millionsRevenuesOperating profitbefore exceptional expenses1Operating marginbefore exceptional expensesExceptional expensesOperating profitNet financial expense1 Costsof implementation of the Adaptation and Simplification programof income taxes: 99m of exceptional expenses and early debt reimbursement indemnity in FY 2017,and 84m of exceptional expenses and early debt reimbursement indemnity in FY20162 Net34- Sodexo Group Presentation, November 2017

EPS LEVERAGE FROM SHARE REPURCHASESFY 17Solid financial performanceGroup net profitEarnings per sharebefore non-recurring itemsbefore non-recurring items 822m 700m 721m 5.52 4.60 508mFiscal201435 14.0%Fiscal2015- Sodexo Group Presentation, November 2017Fiscal2016Fiscal2017 4.77 3.34 15.7% 17.4% 20.0% 61.8% 65.3%Fiscal2014Fiscal2015Fiscal2016Fiscal2017

FY 17REGULAR PAY-OUT AND DIVIDEND INCREASEPay-out ratio (%)56%57%57%50%54%50%48%As publishedpublishedAsBefore non-recurringitems2,75 1Dividend per share ( )2,40 2,20 1,80 53% in 3 yearsFY 20141 Tobe proposed at the AGM on January 23, 201836 - Sodexo Group Presentation, November 2017FY 2015FY 2016FY 2017

EXCEPTIONALLY STRONG CASH FLOWFY 17Solid financial performance millionsFY 2017Operating cash flow1,0761,019120(26)(308)(398)Free cash flow887595Net acquisitions(268)(42)Share buy-backs(300)(300)Dividends paid to parent company shareholders(359)(335)Other changes (including change in Financial Assets2, scope and exchange rates)(164)15(Increase)/decrease in net debt(204)(67)Change in working capital1Net capital expenditure1237FY 2016Excluding change in financial assets in Benefits & Rewards of (134)m in FY’17 and (48)m in FY’16.Total Change in working capital as reported in Consolidated Cash Flow statement: FY’17 of (14)m 120m (134)m and FY16 of (74)m (26)m (48)mincluding Sodexo Ventures investments in Wynd, Neo-Nomade and Life-Dojo- Sodexo Group Presentation, November 2017

RETURN TO CASH CONVERSION OF OVER 100%FY 17Cash conversion (Free cash flow/net profit)123%123%98%FY 201438- Sodexo Group Presentation, November 2017FY 201593%FY 2016FY 2017

ROBUST BALANCE SHEET AND RATIOSFY 17Solid financial performance millionsAugust 31, 2017August 31, 2016August 31, 2017Non-current assets7,4167,498Shareholders’ equityCurrent assetsexcluding cash4,5314,486Non-controlling ted cashBenefits & RewardsFinancial assetsBenefits & RewardsCashTotal assets3,5363,6683434Non-current liabilities3,8853,549Current earing ratio*17%11%Net debt ratio*0.40.3Total liabilities & equityGross borrowingsNet debt*Operating cash totaled 2,889 million1,of which 1,825 million related toBenefits and Rewards Services139August 31, 2016(net debt/EBITDA)Cash – Bank overdrafts of 38m Financial assets related to BRS activity- Sodexo Group Presentation, November 2017* Please refer to Appendix 8 for Alternative Performance Measures definitions

REVIEW OF OPERATIONS FISCAL 2017On-site ServicesBenefits & RewardsServices

BUSINESS & ADMINISTRATIONS – REVENUESFY 17ORGANIC GROWTH56%On-siteServicesFY 17excluding RWC and 53rd week* 3.4% millionsNorth America High single digit growth in Corporate supportedby development of large accounts and FM activitiesOrganicgrowth E&R still challengingAcquisitions pe24%of FY17 B&A50% Lack of new business, particularly in the UK E&R -16%, impacted by North Sea offshore businessof FY17 B&A Pick-up in peak season tourism activity in Q4in France 9.0%Africa, Asia, Australia, Latam & Middle East Double digit growth in Corporate drivenby strong development and retention26%of FY17B&A Energy & Resources momentum due to recoveryin mining and onshore sub-segments and contractstart-upsTOTALFY 201641 - Sodexo Group Presentation, November 2017FY 2017 2.1%* Please refer to Appendix 8 for Alternative Performance Measures definitions

BUSINESS & ADMINISTRATIONS - OPERATING PROFITOn-site Services millions 10 bpsConstant rates4.8%4.7%492509 4.0%CHANGEEXCLUDINGCURRENCYEFFECT 3.6%TOTAL CHANGEFY 2016H12016FY2016FY2017H12017FY2017Operating margin42- Sodexo Group Presentation, November 2017 Stronger momentum in H2,as expected Rigorous control of SG&AFY 17

HEALTH CARE & SENIORS – REVENUESFY 1725%On-siteServicesFY 17ORGANIC GROWTHexcluding RWC and 53rd week* millions 1.8%North America Limited comparable unit growth due toQ3 service losses Low retention and developmentOrganicGrowth4,86866%of FY17Health Care& SeniorsAcquisitions 2.5%Unfavorablecurrencyeffect5,007-0.8%29%Europe Limited development in Hospitals in France and UK 13.1% Africa, Asia, Australia, Latam & Middle East Double digit growth in Latam and Brazil due tocontract wins and increased same sites salesFY 2016of FY17Health Care& Seniors Selective bidding5%of FY17Health Care& SeniorsFY 2017TOTAL 1.5%43- Sodexo Group Presentation, November 2017* Please refer to Appendix 8 for Alternative Performance Measures definitions

HEALTH CARE & SENIORS - OPERATING PROFITFY 17On-site Services millions 30 bpsConstant rates6.6%6.4%156332310 7.1%GROWTHEXCLUDINGCURRENCYEFFECT 7.1%TOTAL GROWTHFY 20162016H1FY 2017H12017Operating margin44- Sodexo Group Presentation, November 2017 Continuous improvement in on-siteefficiency Comparable base in H2 FY2016already boosted by the Adaptationand Simplification program

FY 17EDUCATION – REVENUES21%On-siteServicesFY 17ORGANIC GROWTHexcluding RWC and 53rd week* millions 0.1%North America77% Extension at Chicago and ramp-upin Washington DC in Schoolscompensating net loss in UniversitiesOrganicGrowth4,169 1.6%Favorablecurrency effect 0.0%4,239of FY17Education21%Europe Less days in France and Italy Low prior year development in UK and Franceof FY17Education Robust growth in Schools in Italy 11.3%Africa, Asia, Australia, Latam & Middle East Very strong growth in Schools in Asia(mainly China, Singapore and India)FY 20162%of FY17EducationFY 2017TOTAL 0.3%45- Sodexo Group Presentation, November 2017* Please refer to Appendix 8 for Alternative Performance Measures definitions

EDUCATION - OPERATING PROFITFY 17On-site Services millions 30 bps Strict control of SG&AConstant rates6.6%6.2%260 7.2%281GROWTHEXCLUDINGCURRENCYEFFECT 7.9%TOTAL GROWTHFY 2016FY 2016FY 2017FY2017Operating margin46 - Sodexo Group Presentation, November 2017 Continuous improvement in onsiteefficiency Portfolio management with rigorouscontrol of low-performing contracts

ON-SITE SERVICES ORGANIC GROWTH BY REGIONFY 17All organic growth figures are excluding RWC and 53rd week*NORTHAMERICA-1.3%EUROPE including UK & Ireland 1.6% 9.4%AFRICA - ASIA - AUSTRALIALATAM & MIDDLE EAST47- Sodexo Group Presentation, November 2017* Please refer to Appendix 8 for Alternative Performance Measures definitions

FISCAL 2017 HIGHLIGHTSFY 17Benefits & Rewards ServicesISSUE VOLUME* 17.8 billionREVENUES 905 millionOPERATING PROFIT 307 million 48Organic growth 6.1% 7.7%Growth excluding currency impact 6.2% 12.7% 8.9%Total growth 9.3% 16.0% 16.7%- Sodexo Group Presentation, November 2017* Please refer to Appendix 8 for Alternative Performance Measures definitions

FY 17LATIN AMERICA47%FY 17 BRSrevenuesBenefits & Rewards ServicesISSUE VOLUMEREVENUES billions millionsFavorablecurrency effectFavorablecurrency effectOrganic growthOrganic growth7.84253766.7ORGANIC GROWTHORGANIC GROWTH 7.1% 3.2%FY 2017FY 2016FY 2016FY 2017 Signs of stabilization in Brazil despite a highly competitive environment Falling interest rates in the second half in Brazil Strong growth in the rest of the region49- Sodexo Group Presentation, November 2017Note: As per hyperinflation accounting, Fiscal 2017 and Fiscal 2016 Venezuelan bolivars have been converted at the exchange rate as at August 31, 2017of 1 U.S. dollar 3,250 bolivars relative to the Fiscal 2016 rate of 1 U.S. dollar 645 bolivars.

FY 17EUROPE, ASIA, USA53%FY 17 BRSrevenuesBenefits & Rewards ServicesISSUE VOLUME10.0REVENUES millions billionsOrganic growth AcquisitionsUnfavorablecurrency effect9.6Organic growth10.1AcquisitionsUnfavorablecurrency effect480404ORGANIC GROWTHORGANIC GROWTH 5.4% 11.8%FY 2016 Robust growth in Italy and Central Europe Strong momentum in Incentive & Recognition50- Sodexo Group Presentation, November 2017FY 2017FY2016FY 2017

OPERATING PROFITFY 17Benefits & Rewards Services millions 30 bpsCurrent rates-110 bpsConstant rates33.9%at current rates33.6%Favorablecurrency effect307 Positive impact of Vivabox disposal( 16m / 170bps) Investment in Mobility offers262 8.9%GROWTHEXCLUDINGCURRENCYEFFECTFY 201651 Mix effect on margin resulting from strongdevelopment of Incentive and Recognitionactivity and the acquisition of Inspirus- Sodexo Group Presentation, November 2017 Accelerated card migrationand digitalization investments 16.7%TOTALGROWTHFY 2017

INTRODUCING UNDERLYING OPERATING PROFIT

INTRODUCING UNDERLYING OPERATING PROFITFY 17 Focus on recurring operating profit drivers Simple benchmark with competitors Guidance to the market based on Underlying operating profitWHYUnderlying Operating profit -Other operating income:Other operating expenses: Gains related to perimeter changes Restructuring and rationalization costs Gains on changes of post-employment benefits M&A costs Losses related to perimeter changesHOW Losses on changes of post-employment benefits Amortization of client relationships and trademarks Impairment of non-current assets CONSEQUENCES53- Sodexo Group Presentation, November 2017Operating profit Segment information to underlying operating profit

CURRENT P&L/REDEFINED P&L (FY 2017) millionsCurrent P&LRevenuesOperating profit before exceptional expensesOperating margin before exceptional expensesFY 201720,6981,3266.4% millionsFY 17Redefined P&LRevenuesUnderlying Operating profitOperating marginOther operating incomeGains related to perimeter changesGains on changes of post-employment benefitsOther operating expensesExceptional expenses(137)Restructuring and rationalization costsM&A costsLosses related to perimeter changesLosses on changes of post-employment benefitsAmortization of client relationships and trademarksImpairment of non-current assetsOperating profit1,189Operating profitFY Fiscal 2017 underlying operating profit would have been up 7.3% on Fiscal 2016 underlying operating profit54- Sodexo Group Presentation, November 2017

OUTLOOK

FISCAL 2018 OBJECTIVESFY 17Outlook France turning positive but soft environmentin Northern Europe Improvement in Energy & ResourcesIn Fiscal 2017 Disappointinggrowth in revenuesand continuous strong growthin developing economiesOrganic revenue growthof between 2 and 4%excluding 53rd week impact North America impacted by lack of growthin Education and Health Care Solid increasein margins Strong cash flow Further substantial cost savings this yearas part of the Adaptation and Simplificationprogram Significant investment to enhance growth56- Sodexo Group Presentation, November 2017Underlying operatingprofit margin maintainedat 6.5%(excluding currency effects)* Please refer to Appendix 8 for Alternative Performance Measures definitions

REINFORCING INVESTMENT TO ENHANCE GROWTHAND ACCELERATING OUR DIGITAL TRANSFORMATION Global deployment of innovative offers› Student living› Evolution smart kitchens across segments› Protecta in Healthcare› Harmonie in Seniors› Boundless in BRS› Camp living in Energy & Resources BRS strategic investments› Building end-to-end digital platformsfor mobility offers› Moving from dematerialization to digitalization› Diversifying Offers in Incentive & Recognition57- Sodexo Group Presentation, November 2017FY 17 Strengthening sales and marketing› Training: Sales Academy, digital marketing› Consumer engagement and experience› Digital leads in Corporate and Universities› Deployment of consistent global CRM› Opening our eco-system› Creation of Sodexo’s Datalab Digital investments in processes and back office› Digital Food and FM platforms› Data infrastructure› Testing new technologies› Food waste initiatives

MEDIUM-TERM OBJECTIVESFY 17OutlookConfident in the future with, Significant further outsourcing potential in all regions and segments Strong potential of our new segment organization Increased M&A activityThe Group confirms its medium-term objectives:58average annual growthin revenue between 4% and 7%average annual growthin underlying operating profit between 8% and 10%(excluding currency effect)(excluding currency effect)- Sodexo Group Presentation, November 2017

SHAREHOLDER & INVESTOR RELATIONS

FINANCIAL CALENDAR1st quarter revenues, Fiscal 2018January 11, 2018Annual Shareholders’ Meeting 2018January 23, 2018Dividend ex-dateFebruary 1, 2018Dividend record dateFebruary 2, 2018Dividend payment dateFebruary 5, 20181st half results – Fiscal 2018Nine month revenues, Fiscal 2018Annual results, Fiscal 2018Annual Shareholders’ Meeting 2019April 12, 2018July 5, 2018November 8, 2018January 22, 2019These dates are purely indicative, and are subject to change without notice.Regular updates are available in the calendar on our websitewww.sodexo.com60- Sodexo Group Presentation, November 2017

SODEXO SHARE OWNERSHIP AS OF AUGUST 31, 2017Shareholder & Investor RelationsOWNERSHIP STRUCTURE AS OF AUGUST 31, 2017BREAKDOWN OF VOTING RIGHTS AS OF AUGUST 31, 201757%Public40.4% Bellon SA43.1%Public37.7% NonFrenchInstitutionalshareholders15%French institutionalshareholders61 - Sodexo Group Presentation, November 20171.1% Employees1.5% Treasury shares4.3% Individualshareholders1.1%Employees55.8%Bellon SA

SODEXO SHARESShareholder & Investor Relations Sodexo shares are listed on NYSE Euronext ParisEuroclear code: FR 0000121220; included in the Next 20 index Sodexo American Depositary Receipts (ADRs) are traded on the over the counter(OTC) market, ticker SDXAY, with five ADRs representing one Sodexo share.Since initial listing in 1983SHARE PRICE HAS BEEN MULTIPLIED BY 63** As of August 31, 2017More than 4.6 timesthe growth of the CAC 4062- Sodexo Group Presentation, November 2017

STOCK MARKET PERFORMANCEShareholder & Investor Relations SODEXO CAC 40August 2012August 2013August 2014August 2015August 2016August 2017 Over the last five fiscal years, Sodexo’s share price increased by 55.9%, whereas the CAC 40 index increased by 49.0% during the same period During the last fiscal year, Sodexo’s share decreased by 5.6% whereas the CAC 40 index rose by 14.6%63- Sodexo Group Presentation, November 2017

REGISTERED SHAREHOLDERSShareholder & Investor RelationsBenefits of being a registered Sodexo shareholder: reduced administration costs (for pure registered shares only); double voting rights for registered shares held for at least four years; and since 2014, a dividend premium of 10% for registered shares held for more than four years (limited to 0.5% of issued capital pershareholder)Contacts for Registered Shareholders: For further information call :Société Générale Nantes (France) : 33(0)2 51 85 67 89or visit the Société Générale website: www.sharinbox.societegenerale.com64- Sodexo Group Presentation, November 2017

SODEXO ADR PROGRAMMEShareholder & Investor RelationsSodexo offers investors the convenience of investing in American Depositary Receipts (ADRs)Benefits of ADRs to US investors They clear and settle according to normal USstandard

SODEXO AT A GLANCE Strong Investment Grade S&P “A-/A-1” Founded in 1966 by Pierre Bellon Main Shareholders as at 31/08/2017: Bellon S.A 40.4% of capital (55.8% of actual voting rights) International Institutional investors 37.7% French Institutional investors 15.0% November 15, 2017 20.

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Sodexo s COVID-19 Game Plan for Schools Meals Served to U.S. Students in Need Sodexo & School District Partners West Central East Mountain Over #WeAreInThisTogether 16.9 Million 4.5 Million 2.6 Million 5.3 Million 4.2 Million April 2020 EMERGENCY FEEDING PROGRAMS Sodexo deployed a two-phase, local, regional and national strategy to immediately ramp

Summer, tHe HenLey rOyAL reGAttA SAw SODexO PreStiGe BeCOme itS OFFiCiAL HOSPitALity SuPPLier 34 A SHininG exAmPLe SODexO PreStiGe PLAyeD HOSt tO tHe newLy HAiLeD StAnDOut GAmeS OF tHiS yeAr, GLASGOw 2014 . woods did in 2005 and 2006 is already rife – a fact which has unsurprisingly not escaped rory’s notice.

UNH Sodexo Campus Dining UNH Sodexo Twitter Instagram UNH_Dining UNH_Sodexo_Dining UNH Dining App Jazzman’s Café App Hours, Menus, Specials Order Beverages &a

EMERGENCY PLAN ANALYSIS REPORT DAY TO DAY OPERATION CHALLENGES FINAL REFLECTION PAPER MENU ANALYSIS (SPEICIAL PROJECT) Section one - Oversight Agency Self-Audit Regulation Sodexo has a contract with National Sanitation Foundation (NSF) that standardize sanitation and food safety requirement. The NSF Food Safety Division provides accredited service

Sodexo began the construction of HMP Forest Bank in Salford, Greater Manchester, as part of a consortium in 1998, resulting in the opening of our first Private Finance Initiative prison in 2000. With a current capacity for 1,460 males, HMP Forest Bank is one of the largest prisons in the UK. Classed as a resettlement

Visit www.sodexo-glo.com for e-learning modules on appraisal and management skills The UK runs face to face workshops on 'Effective Appraisals' and 'Performance Management' - these help managers to have great performance conversations — you can book them via Learning and Development Team

Source: 2016 Miami-Dade County Infant Mortality Analysis Highest Neighborhood Rates and Percentages. 31 21.6 23.7 26.26 37.84 41.84 42.28 43.74 50.7 54.06 58.9 64.56 68.34 77.04 0 20 40 60 80 100 Group F Group D Group N Group G Group B Group H Group C Group M Group J Group A Group E Group K Group I Percent p

Remarks: TME follow all other international standards like BS-4255, ASTM C-864, etc as per projects specification. Material Specifications DIN7863:1983 Nominal Dimension mm Tolerance Class E1 ( /_) Above Up to & including 0 1.5 0.15 1.5 2.5 0.20 2.5 4.0 0.25 4.0 6.3 0.35 6.3 10 0.40 10 16 0.50 16 25 0.70 25 40 0.80 40 63 1.00 63 100 1.30 Extrusion Dimensional Tolerances Sealed Quality To .