Danone // 2020 Universal Registration Document

Business highlights in 2020 and outlook for 2021 3.4 Balance sheet and financial security review DANONE UNIVERSAL REGISTRATION DOCUMENT 2020 52 Main financial debt repayment schedule This relates to financing managed at the Company level. Projected cash outflows related to the contractual repayment of the principal amount based on the assumption of non‑renewal Year ended December 31 (in € millions) Sources of financing available at any time The sources of financing available at any time established by the Group are composed mainly of available committed credit facilities and a syndicated credit facility carried by the Company. As of December 31 (in € millions) Company rating As of December 31 2019 2020 Moodyʼs Standard and Poorʼs Moodyʼs Standard and Poor’s Short-term rating (a) Rating – A-2 – A-2 Long-term rating (b) Rating Baa1 BBB+ Baa1 BBB+ Outlook Stable Stable Stable Stable (a) Rating given to the Company’s commercial paper program. (b) Rating given to the Company’s debt issues with a maturity of more than one year. 1,693 1,723 2,000 1,088 1,630 800 1,759 800 1,250 1,846 1,492 355 7 (a) Includes the value of derivatives hedging bonds and commercial paper. Bonds (a) Commercial paper (a) Liabilities related to put options Hybrid financing 4,000 3,000 2,000 1,000 0 2021 2022 2023 2024 2025 2026 2027 2028 2029 Undated 2,000 1,008 2,000 682 2,000 632 2,000 2,000 0 100 100 Syndicated credit facility Committed credit facilities 2020 2021 2022 2023 2024 2025 3,000 2,000 1,000 0