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Presentation of Chargeurs Group SFAF : PEA PME meeting SFAF : Socit Franaise des Analystes Financiers (French Society of Financial Analysts) PEA PME : Plan dEpargne en Actions pour les Petites et Moyennes Entreprises (Investment vehicle

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SLIDE 1

Presentation of Chargeurs Group SFAF : PEA PME meeting

SFAF : Société Française des Analystes Financiers (French Society of Financial Analysts) PEA PME : Plan d’Epargne en Actions pour les Petites et Moyennes Entreprises (Investment vehicle in SMEs (Small Middles Enterprises) for French residents that receives favorable tax treatment)

June 10th, 2014

Martine Odillard, Chief Executive Officer Rémy Husson, Chief Financial Officer Cédric Ratouis, Investor Relations

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SLIDE 2

Agenda

06/10/2014 SFAF : PEA PME meeting 2

1.

Chargeurs

2.

Chargeurs Protective Films

3.

Chargeurs Interlining

4.

Chargeurs Wool

5.

Financial Review

6.

Outlook

7.

Questions – answers

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SLIDE 3
  • 1. Chargeurs

3

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SLIDE 4

Chargeurs, a global diversified group

06/10/2014 SFAF : PEA PME meeting 4 Global manufacturing and services Group

  • 93% of sales outside France
  • 1,600 people in 31 countries on 5 continents
  • 11 industrial sites in 6 countries on 4 continents

Three niche markets

Chargeurs Protective Films Temporary protection of surfaces European Leader Chargeurs Interlining Interlining and technical textiles A world leader Chargeurs Wool Top making and sales of combed wool World Leader

2013 Revenue par Regions 225 M€ 48% 140 M€ 30% 102 M€ 22% Europe Asia Americas 467 M€ 2013 Revenue by business 191 M€ 41% 174 M€ 37% 102 M€ 22%

Protective Films Interlining Wool

467 M€

2013 Key figures

Revenue € 466.5 M Cash Position € 3.2 M Operating Profit € 17.8 M Cash generated by Operations € 13.2 M Net Profit € 3.6 M Equity attributable to owners € 157.9 M

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SLIDE 5
  • 2. Chargeurs Protective Films

5

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SLIDE 6

A European Leader with a global network

06/10/2014 SFAF : PEA PME meeting 6

Specialized in self-adhesive films for the temporary protection of

fragile surfaces at every stage of the transformation process

Serving 4 markets :

Building Household appliances Automobiles Electronics

European Leader with a global presence:

93% of sales outside France Commercial network in more than 60 pays 520 people in 16 countries 3 production units: France, Italy, United States

2013 revenue by region 113 M€ 59% 40 M€ 21% 38 M€ 20% Europe Asia Americas 191 M€

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SLIDE 7

Chargeurs Protective Films : Opering profit

10,8 8,6 10,3 11,4

  • 2,8

5,7% 4,7% 5,7% 6,4%

  • 2,0%
  • 5

5 10 15 2009 2010 2011 2012 2013

  • 5,0%

0,0% 5,0% 10,0% 15,0% M€ M€ % CA

Chargeurs Protective Films : Revenue

190,9 181,5 179,7 177,0 142,3 50 100 150 200 2009 2010 2011 2012 2013 M€ M€

Growth and gains of market shares

06/10/2014 SFAF : PEA PME meeting 7

Source Eurostat

10/2008 10/2010 02/2012

Source Platts

A steady growth of revenue Profitability despite a very

volatile raw material

+5,2% +25,2% Production in the Building sector - Europe Euro Zone, seasonally adjusted data UE28, seasonally adjusted data Polyethylene price : from 2008 to 2014 € / ton

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SLIDE 8

A virtuous economic business model

06/10/2014 SFAF : PEA PME meeting 8

Leader on niches Global Market with high entry barriers Excellent technological expertise which allows innovations

answering the constant evolution of its customers needs

Premium, recognized Quality of service Focus 2014 – 2015 :

Focus of higher value products Growth of revenue made by recent innovations

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SLIDE 9
  • 3. Chargeurs Interlining

9

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SLIDE 10

A global interlining leader with enlarged offer

06/10/2014 SFAF : PEA PME meeting 10

Expert in interlining: a technical textile, inserted between the

fabric and the lining to keep garments flexible and help them to retain their shape

A major player in the garment industry New promising opportunities in technical textiles A highly globalized network

89% of sales outside France 1,000 people in 24 countries 8 production units on 3 continents

Security Decoration Advertizing

2013 revenue by region 68 M€ 39% 75 M€ 43% 31 M€ 18% Europe Asia Americas 174 M€

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SLIDE 11

Resilience on a mature market

06/10/2014 SFAF : PEA PME meeting 11

Optimization of structures

(commercial, production) in response to market degradation

Evolution apparel consumption (in % /year)

2009/08 2010/09 2011/10 2012/11 2013/12 P 2014

France

  • 3,4%
  • 0,4%
  • 1,3%
  • 2,2%
  • 1,4%
  • 1,0%

Germany

  • 1,0%

3,0% 0,0%

  • 2,0%
  • 2,0%
  • 1,0%

U.K. 0,8% 4,5% 2,0% 1,0% 1,5% 1,0% Italy

  • 1,8%
  • 1,0%
  • 2,3%
  • 5,0%
  • 7,0%
  • 5,0%

Spain

  • 5,6%
  • 3,2%
  • 1,0%
  • 8,0%
  • 5,0%
  • 3,5%

U.S.A.

  • 4,2%

4,9% 3,8% 4,1% 3,7% 4,2% China 21,0% 23,7% 19,6% 16,2% 14,0% 8,0% Source IFM

Chargeurs Interlining : revenue

173,7 179,0 187,4 185,1 165,7 50 100 150 200 2009 2010 2011 2012 2013 M€ M€

Chargeurs Interlining : Opering profit/(loss)

5,1 4,5 8,6 10,0

  • 16,9

2,9% 2,5% 4,6% 5,4%

  • 10,2%
  • 20
  • 10

10 20 2009 2010 2011 2012 2013

  • 20,0%
  • 10,0%

0,0% 10,0% 20,0% M€ M€ % CA

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SLIDE 12

Improve profitability

06/10/2014 SFAF : PEA PME meeting 12

A global network, distribution and production,

capable of answering local needs

Recognized brands

with a high end positioning serving prestigious customers

Focus 2014 – 2015 :

Focus on high-end products Priority to innovation and the development

  • f technical products
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SLIDE 13
  • 4. Chargeurs Wool

13

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SLIDE 14

Nowadays, a distributor

06/10/2014 SFAF : PEA PME meeting 14

Expert in a key step in the wool process Partial disposals of combing mills in 2012 and 2013 Top maker: creation of long fine blended-wool

fibers that successfully meet the needs

  • f spinning mills

Global Leader:

100% of sales outside France A lean structure with a global presence 4 industrial partnerships (USA, Argentina, Uruguay, China)

2013 revenue by region 44 M€ 43% 28 M€ 27% 31 M€ 30% Europe Asia Americas 102 M€

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SLIDE 15

A transformation successfully completed

06/10/2014 SFAF : PEA PME meeting 15

An adaptation to a volatile

market and to competing synthetics fibers

Chargeurs Wool : revenue

101,9 164,1 185,0 149,8 143,6 50 100 150 200 2009 2010 2011 2012 2013 M€ M€

Chargeurs Wool : Opering profit /(loss)

2,1 0,2 6,7 1,2 0,1 2,1% 0,1% 3,6% 0,8% 0,1% 2 4 6 8 2009 2010 2011 2012 2013 0,0% 1,0% 2,0% 3,0% 4,0% M€ M€ % CA

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SLIDE 16

Externalized risks

06/10/2014 SFAF : PEA PME meeting 16

A global market An experienced player specialized in high-end market Focused on distribution while retaining full control of the value chain

back by industrial partnerships

A high quality natural fiber offering growth opportunities

In China, with the development of middle class On the premium market, responding to increasing quality and traceability

requirements

Focus 2014 – 2015 :

Assure a sustainable profitability

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SLIDE 17
  • 5. Financial review

17

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SLIDE 18

2009 – 2013 : a successful transformation

06/10/2014 SFAF : PEA PME meeting 18

2012, impairment of the

recognized deferred tax asset

2013, net profit - taking into

account the loss from discontinued operations

2012, restructuring

(Interlining and Wool)

2013, reduction in fixed costs 2012 and 2013, reduction in

the Wool business scope

Chargeurs : revenue

466,5 524,6 552,1 511,9 451,6 200 400 600 2009 2010 2011 2012 2013 M€ M€

Chargeurs : Operating profit / (loss)

17,8 7,0 23,7 21,3

  • 22,6

3,8% 1,3% 4,3% 4,2%

  • 5,0%
  • 40
  • 20

20 40 2009 2010 2011 2012 2013

  • 10,0%
  • 5,0%

0,0% 5,0% 10,0% M€ M€ % CA

Chargeurs : net profit / (loss)

3,6

  • 15,2

10,5 12,8

  • 45,9

0,8%

  • 2,9%

1,9% 2,5%

  • 10,2%
  • 60
  • 40
  • 20

20 2009 2010 2011 2012 2013

  • 15,0%
  • 10,0%
  • 5,0%

0,0% 5,0% M€ M€ % CA

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SLIDE 19

2009 – 2013 : a successful transformation

06/10/2014 SFAF : PEA PME meeting 19

Target met of reducing debt Restructuring agreement

reimbursed ahead of schedule before June 30th, 2014

Stronger cash generation

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SLIDE 20

2009 – 2013 : a more efficient financial structure

06/10/2014 SFAF : PEA PME meeting 20

Sharp improvement of WCR ROCE significantly improved Reduction in capital employed

Chargeurs : WCR in number of days of Revenue

57 73 103 63 40 50 100 150 2009 2010 2011 2012 2013 M€ M€

Chargeurs : return on capital employed

  • 11,2%

9,5% 9,2% 3,7% 12,5%

  • 15%
  • 10%
  • 5%

0% 5% 10% 15% 2009 2010 2011 2012 2013 M€ M€

In euro millions 2009 2010 2011 2012 2013 Goodwill - net 67,4 70,9 71,6 70,0 66,2 Property, plant & equipment 61,4 59,4 56,9 47,5 37,6 Non current financial assets 3,0 4,4 1,7

  • 7,0
  • 11,4

Working capital requirements 70,2 90,4 127,1 77,9 49,8 Capital employed 202,0 225,1 257,3 188,4 142,2 Equity 130,2 167,5 183,0 166,6 157,9 Subordinated convertible bonds 0,0 12,7 13,3 13,6 13,2 Debt (+) / cash position (-) net 89,1 63,1 80,6 32,8

  • 3,2

Investments in associates & joint ventures

  • 17,3
  • 18,2
  • 19,6
  • 24,6
  • 25,7

Total funding 202,0 225,1 257,3 188,4 142,2 Operating Profit / (loss)

  • 22,6

21,3 23,7 7,0 17,8 ROCE

  • 11,2%

9,5% 9,2% 3,7% 12,5%

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SLIDE 21

Stockmarket Information

06/10/2014 SFAF : PEA PME meeting 21

05/31/14 : 15,687,505 actions & Market cap. € 86 M

  • 415,083 bonds issued on 03/12/2010 with a face value
  • f €55.
  • Maturing January 1, 2016, bonds will be redeemed in full

at par + allocation of 6 .06 Chargeurs shares per Bond, unless early redemption

  • Bonds are convertible: ratio of 2 7 Chargeurs shares for

every 1 Bond + remuneration in shares.

  • Option of early redemption by Chargeurs under certain

circumstances and with possible conversion

  • Quotation of bond at June 5, 2014 = €151.62

1.

Chargeurs Share (FR0000130692 – CRI ; Euronext Paris Comp. C, SRD, PEA, PEA-PME)

2.

Convertible bond (FR0010870931 – YCRI )

05/31 /14 : 228 835 bonds are outstanding

Shares breakdown at Jan.31, 2014

7% 6% 0% 24% 49% 14%

  • J. Seydoux
  • E. Malone

Treasury stock Non resident French institutions Private shareholders

14,340,575 shares

Bonds breakdown at Jan.31, 2014

8% 0% 10% 47% 9% 26%

  • J. Seydoux
  • E. Malone

Non identified Non resident French institutions Private shareholders

255 982 convertibles bonds

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SLIDE 22
  • 6. Outlook

22

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SLIDE 23

Outlook

06/10/2014 SFAF : PEA PME meeting 23

Announced target for annual recurring operating profit of €20 million,

  • n a recurring basis, by year-end 2015

Chargeurs Protective Films

Continued growth through innovation and the development of high value products.

Chargeurs Interlining

Consolidation of profitability in a mature market, innovation and diversification in technical textiles.

Chargeurs Wool

Stable profitability.

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SLIDE 24

1st quarter 2014 in line with announced target

06/10/2014 SFAF : PEA PME meeting 24

The three businesses are on track

+6.5% : sustained demand Stable volumes, adverse currency effect €(0.9)M scope ; €(1.4)M volume ; €(1.2)M price +1.9% at constant scope and exchange rates

Revenue First quarter in € millions 2014 2013* Chargeurs Protective Films 50,6 47,5 Chargeurs Interlining 40,9 42,7 Chargeurs Wool 26,9 30,4 TOTAL 118,4 120,6

* 2013 Chargeurs Interlining revenue adjusted for IFRS 5

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SLIDE 25
  • 7. Questions – answers

25