HighCo

Earnings Release • Apr 18, 2019

Paris, 18 April 2019 (6.00 p.m.)

HIGHCO CONTINUED ITS POSITIVE GROWTH TREND IN Q1 2019 WITH 3.1% LFL GROWTH IN GROSS PROFIT AND CONFIRMS ITS 2019 GUIDANCE

Solid business growth in Q1 driven by Digital

• Q1 2019¹ gross profit of €23.17 M, up 11.8% on a reported basis and 3.1% LFL² .
• Strong growth in digital business: Q1 LFL up 6.5%.
• Continued positive growth trend in France: Q1 LFL up 3.8%.
• Slight growth in International business: Q1 LFL up 0.8%.

2019 guidance confirmed

• Growth in 2019 gross profit higher than growth in 2018 on a like-for-like basis (2018 gross profit: up 2.6% like for like), with a higher share of Digital in the Group's business in 2019 than in 2018 (52.9% in 2018).
• Slight rise in adjusted operating margin (adjusted headline PBIT/gross profit)³ (2018 adjusted operating margin: 18.3%).

(€ M)	2019	2018 Reported	2018 LFL2	2019/2018 Reported change	2019/2018 LFL2 change
Q1 Gross Profit1	23.17	20.73	22.48	+11.8%	+3.1%

¹ Unaudited data.

Didier Chabassieu, Chairman of the Management Board, stated, "After a strong performance in 2018, HighCo delivered business growth in line with expectations in the first quarter of 2019, mainly driven by digital businesses. This positive trend has enabled the Group to confirm its guidance for 2019 and move forward in its strategy based on digitisation of its businesses and data management."

² Like for like: Based on a comparable scope (i.e. including Useradgents over three months in 2018 and 2019, as of 1 January) and at constant exchange rates (i.e. applying the average exchange rate over the period to data from the compared period).

³ Adjusted headline profit before interest and tax: Recurring operating income before restructuring costs and excluding the cost of performance share plans. Adjusted operating margin: Adjusted headline PBIT/Gross profit.

SOLID BUSINESS GROWTH IN Q1 DRIVEN BY DIGITAL

The Group posted business growth that remains healthy in Q1 2019 with gross profit of €23.17 M, up 11.8% on a reported basis and 3.1% like for like.

With an increase of 6.5% like for like in Q1 2019, Digital remains the Group's growth driver. The share of digital activities in total Group business continued to rise significantly, up from the reported figure of 47.7% in Q1 2018 to 53.4% in Q1 2019. Offline businesses started 2019 with a slight decline of 0.7% on a like-for-like basis.

CONTINUED POSITIVE GROWTH TREND IN FRANCE AND SLIGHT GROWTH IN INTERNATIONAL BUSINESS

Up 3.8% like for like, France turned in gross profit of €17.7 M in Q1 2019, representing 76.4% of the Group's gross profit. This increase is driven by the strong surge in digital businesses (up 7.6% like for like), with their share of total business rising from 51.9% to 58.8% over the quarter, partly due to the integration of Useradgents mid-2018.

International gross profit grew slightly by 0.8% like for like to €5.47 M in Q1 2019, representing 23.6% of the Group's gross profit. In Benelux, gross profit increased 0.7% like for like in Q1 2019 to €5.18 M. Business in Southern Europe continues to follow an upward trend. After showing growth in 2018, the region accounts for 1.2% of the Group's gross profit.

2019 GUIDANCE CONFIRMED

In light of the strong performance reported in Q1 2019 and the outlook expected for the months to come, the Group has confirmed its guidance for 2019:

• Growth in 2019 gross profit higher than growth in 2018 on a like-for-like basis (2018 gross profit: up 2.6% like for like), with a higher share of Digital in the Group's business in 2019 than in 2018 (52.9% in 2018);
• Slight rise in adjusted operating margin (2018 adjusted operating margin: 18.3%).

2018 ANNUAL REPORT AND 2019 ANNUAL GENERAL MEETING

HighCo's 2018 Annual Report was filed with the Autorité des Marchés Financiers (French financial markets authority) on 15 April 2019 under No. D19-0333. The report is delivered as the Group's registration document and is available on HighCo's website (www.highco.com), under Investors>Annual Report.

The Annual General Meeting will be held at the head office in Aix-en-Provence on 20 May 2019. A dividend of €0.16 per share for FY 2018, i.e. 14.3% higher than for FY 2017, will be proposed at the meeting, with payment scheduled for 28 May 2019 (ex-dividend date of 24 May 2019).

About HighCo

As an expert in data marketing and communication, HighCo continuously innovates to work with brands and retailers in meeting the retail challenges of tomorrow.

Listed in compartment C of Euronext Paris, and eligible for the "long only" DSS, HighCo has more than 750 employees and since 2010 has been included in the Gaia Index, a selection of 70 responsible Small and Mid Caps.

Your contacts

Cécile Collina-Hue Cynthia Lerat Managing Director Press Relations +33 1 77 75 65 06 +33 1 77 75 65 16

comfi@highco.com c.lerat@highco.com

Upcoming events

Publications take place after market close.

Q2 and H1 2019 Gross Profit: Wednesday, 17 July 2019 2019 Half-year Earnings: Wednesday, 28 August 2019 Conference call on 2019 half-year earnings: Thursday, 29 August 2019 Q3 and 9-month YTD 2019 Gross Profit: Wednesday, 16 October 2019 Q4 and FY 2019 Gross Profit: Wednesday, 22 January 2020

HighCo is a component stock of the indices CAC® Small (CACS), CAC® Mid&Small (CACMS) and CAC® All-Tradable (CACT). ISIN: FR0000054231 Reuters: HIGH.PA Bloomberg: HCO FP For further financial information and press releases, go to www.highco.com

Donations for the restoration of Notre-Dame de Paris

High Connexion is teaming up alongside telecoms operators Bouygues Telecom, Orange and SFR, members of France's mobile multimedia association AFMM, now to enable people in France to send donations of €5 by SMS to the Fondation du Patrimoine (French heritage foundation) to restore Notre-Dame de Paris Cathedral.

To give your support, send DON by SMS to 92 500 (only available in France).

This English translation is for the convenience of English-speaking readers. Consequently, the translation may not be relied upon to sustain any legal claim, nor should it be used as the basis of any legal opinion. HighCo expressly disclaims all liability for any inaccuracy herein.