Universal Registration Document 2023

Publicis Groupe SA is a French limited liability Company (société anonyme) with a Management Board and a Supervisory Board, governed by Articles L. 225‑57 to L. 225‑93 of the French Commercial Code. The headquarters is located at 133, avenue des Champs-Élysées, 75008 Paris, France.

Note 1 Accounting policies and methods

Pursuant to Regulation (EC) 1606/2002 of July 19, 2002, the Publicis Groupe 2023 consolidated financial statements were prepared in accordance with the IAS/IFRS international accounting standards approved by the European Union as of the closing date and that were mandatory at that date.

The 2023 consolidated financial statements and the accompanying notes were approved by the Management Board at its February 5, 2024 meeting and reviewed by the Supervisory Board at its February 7, 2024 meeting. They will be submitted for approval by the shareholders at the General Shareholders’ Meeting on May 29, 2024. The consolidated financial statements are presented in euros rounded to the nearest million.

1.1 New applicable standards and interpretations

Compliance with IFRS standards as adopted by the European Union

The accounting principles applied to prepare the annual consolidated financial statements for the financial year ended December 31, 2023 are consistent with the IFRS standards and IFRIC interpretations as adopted by the European Union as at December 31, 2023.

Application of new standards and interpretations

The Group’s application of the new standards and interpretations adopted by the European Union during financial year 2023 or whose application is mandatory no later than December 31, 2023 has no material impact on the Group’s financial statements and concerns:

• the amendment to IAS 12 removing the exemption from the initial recognition of deferred taxes for transactions generating taxable and deductible temporary differences of equal amount;
• the amendment to IAS 12 which provides a mandatory temporary exemption from the recognition of deferred taxes in the consolidated financial statements in line with the international tax reform of the OECD, Pillar 2;
• IFRS 17 on the principles of recognition, valuation, presentation and disclosures of insurance contracts;
• the amendment to IAS 8 clarifying the distinction between a change in accounting estimate and a change in accounting method;
• the amendment to IAS 1 concerning disclosures of significant accounting policies and methods.

Early application

As of December 31, 2023, the Group has not adopted any new standards or interpretations in advance.

Standards published by the IASB for which application is not mandatory

The principles applied by the Group do not differ from IFRS standards as published by the IASB, since the application of the following standards are not mandatory in financial years beginning on or after January 1, 2023:

• the amendment to IAS 1 relating to the classification of liabilities as current or non‑current;
• the amendments to IFRS 16 relating to lease liabilities in the case of a sale‑leaseback contract;

The Group does not expect any material impact from the application of these new standards, which will become mandatory as of January 1, 2024.

Standards issued by the IASB but not yet adopted by the European Union

The following standards have not entered into force as they have not been adopted by the European Union. These are:

• the amendment of IAS 7 and IFRS 7 on supplier finance arrangements;
• the amendments to IAS 21 concerning the lack of exchangeability.

The Group does not expect the application of these new standards to have a material impact.

1.2 Consolidation principles and policies

Reporting currency of the consolidated financial statements

Publicis prepares and publishes its consolidated financial statements in euros.

Investments in subsidiaries

The consolidated financial statements include the financial statements of Publicis Groupe SA, and of its subsidiaries, as at December 31 of each year. Subsidiaries are consolidated as of the time that the Group obtains control until the date on which control is transferred to an entity outside the Group.

Control is exercised when the Group is exposed or entitled to the variable returns and provided that it can exercise its power to influence such returns.