$\overline{A}$ $\Omega$ 40					FLIR -91
NAT.	Filing date	Nr.	∽ –	U.	υ.

ANNUAL ACCOUNTS AND OTHER DOCUMENTS TO BE FILED UNDER BELGIAN COMPANY LAW

IDENTIFICATION DETAILS

NAME: UCB SA

Legal form: Public limited company
Address: Allée de la Recherche
Postal code: 1070
Country: Belgium
Register of legal persons - commercial court Brussels, French-speaking
Website address ¹ :
Company identification number		BE 0403.053.608

24 / 04 / 2014 DATE of filing the memorandum of association OR of the most recent document mentioning
the date of publication of the memorandum of association and of the act amending the articles of association.

ANNUAL ACCOUNTS IN EUROS ANNUAL ACCOUNTS
approved by the general meeting of	25/04	2018

01 / 01 / 2017 Regarding the financial year from to	31 / 12 /	2017
01 / 01/ 2016 Preceding financial year from to	31 / 12 /	2016
The amounts for the preceding period are / axex mate identical to the ones previously published.
60. Total number of nogon filed: Number of eastless of the step-devil femining Clad because

Total number of pages filed: ...............60................... Numbers of sections of the standard form not filed because they serve no useful purpose: ....6.2.1, 6.2.2, 6.2.5, 6.3.4, 6.5.2, 6.17, 6.18.2, 6.20, 8, 9

Jean-Christophe TELLIER Director

Evelyn du Monceau /
Chairman of the Board of Directors

$\mathbf{1}$ Optional information. $F₁$

$\overline{c}$ Strike out what is not applicable.

LIST OF DIRECTORS, BUSINESS MANAGERS AND AUDITORS AND DECLARATION REGARDING A COMPLIMENTARY REVIEW OR CORRECTION ASSIGNMENT

LIST OF THE DIRECTORS, BUSINESS MANAGERS AND AUDITORS

COMPLETE LIST with surname, first names, profession, place of residence (address, number, postal code and municipality) and position within the company

Gerhard MAYR c/o UCB S.A. Allée de la Recherche 60, 1070 Anderlecht, Belgium	Chairman of the board of directors - 27/04/2017
Evelyn JANSSEN épse de D. du MONCEAU de BERGENDAL c/o UCB S.A. Allée de la Recherche 60, 1070 Anderlecht, Belgium	Chairman of the board of directors 27/04/2017 -
Pierre GURDJIAN c/o UCB S.A. Allée de la Recherche 60, 1070 Anderlecht, Belgium	Vice-chairman of the board of directors 27/04/2017 -
Jean-Christophe TELLIER c/o UCB S.A. Allée de la Recherche 60, 1070 Anderlecht, Belgium	Director
Alice DAUTRY c/o UCB S.A. Allée de la Recherche 60, 1070 Anderlecht, Belgium	Director
Kay DAVIES c/o UCB S.A. Allée de la Recherche 60, 1070 Anderlecht, Belgium	Director
Albrecht DE GRAEVE c/o UCB S.A. Allée de la Recherche 60, 1070 Anderlecht, Belgium	Director
Harriet EDELMAN c/o UCB S.A. Allée de la Recherche 60, 1070 Anderlecht, Belgium	Director - 27/04/2017
Charles-Antoine JANSSEN c/o UCB S.A. Allée de la Recherche 60, 1070 Anderlecht, Belgium	Director
Cyril JANSSEN c/o UCB S.A. Allée de la Recherche 60, 1070 Anderlecht, Belgium	Director
Norman J. ORNSTEIN c/o UCB S.A. Allée de la Recherche 60, 1070 Anderlecht, Belgium	Director
Cédric van RIJCKEVORSEL c/o UCB S.A. Allée de la Recherche 60, 1070 Anderlecht, Belgium	Director
Ulf WIINBERG c/o UCB S.A. Allée de la Recherche 60, 1070 Anderlecht, Belgium	Director
Viviane MONGES c/o UCB S.A. Allée de la Recherche 60, 1070 Anderlecht, Belgium	Director 27/04/2017 -
Roch DOLIVEUX Allée de la Recherche 60, 1070 Anderlecht, Belgium	Director 27/04/2017 -
PwC Réviseurs d'Entreprises SCCRL Nr.: BE 0429.501.944 Woluwe Garden Woluwedal 18, 1932 Sint-Stevens-Woluwe, Belgium Membership nr.: B00009	Auditor

Represented by:

LIST OF THE DIRECTORS, BUSINESS MANAGERS AND AUDITORS (CONTINUED)

COMPLETE LIST with surname, first names, profession, place of residence (address, number, postal code and municipality) and position within the company

Romain SEFFER Woluwedal 18, 1932 Sint-Stevens-Woluwe, Belgium Membership nr.: A02047

DECLARATION REGARDING A COMPLIMENTARY REVIEW OR CORRECTION ASSIGNMENT

The managing board declares that no audit or correction assignment has been given to a person who was not authorised to do so by law, pursuant to art. 34 and 37 of the law of 22th April 1999 concerning accounting and tax professions.

The annual accounts were / were not^∗ audited or corrected by an external accountant or by a company auditor who is not the statutory auditor. XXX

If affirmative, mention hereafter: surname, first names, profession and address of each external accountant or company auditor and his membership number with his Institute as well as the nature of his assignment:

A. Bookkeeping of the enterprise ∗∗,
B. Preparing the annual accounts ∗∗,
C. Auditing the annual accounts and/or
D. Correcting the annual accounts.

If the tasks mentioned under A. or B. are executed by certified accountants or certified bookkeepers - tax specialists, you can mention hereafter: surname, first names, profession and address of each certified accountant or certified bookkeeper - tax specialist and his/her affiliation number with the Institute of Accounting Professional and Tax Experts and the nature of his/her assignment.

Surname, first names, profession and address	Affiliation number	Nature of the assignment (A, B, C and/or D)

^∗ Strike out what is not applicable.

^∗∗ Optional information.

ANNUAL ACCOUNTS

BALANCE SHEET AFTER APPROPRIATION

	Discl.	Codes	Period	Preceding period
ASSETS
Formation expenses	6.1	20	12.311.017	15.679.970
FIXED ASSETS		21/28	4.822.320.141	4.790.528.594
Intangible fixed assets	6.2	21	376.605	393.656
Tangible fixed assets	6.3	22/27	8.965.949	7.503.811
Land and buildings		22	5.752.315	5.809.884
Plant, machinery and equipment		23	866.519	974.733
Furniture and vehicles		24	145.247	207.275
Leasing and similar rights		25
Other tangible fixed assets		26
Assets under construction and advance payments		27	2.201.868	511.919
Financial fixed assets 6.4/6.5.1		28	4.812.977.587	4.782.631.127
Affiliated enterprises	6.15	280/1	4.797.799.212	4.767.452.752
Participating interests		280	4.797.799.212	4.767.452.752
Amounts receivable		281
Enterprises linked by participating interests	6.15	282/3	15.126.590	15.126.590
Participating interests		282	15.126.590	15.126.590
Amounts receivable		283
Other financial assets		284/8	51.785	51.785
Shares		284	51.785	51.785
Amounts receivable and cash guarantees		285/8

Discl.	Codes	Period	Preceding period
CURRENT ASSETS	29/58	3.135.574.217	3.195.628.967
Amounts receivable after more than one year	29	1.150.397.211	2.145.108.433
Trade debtors	290	.	.
Other amounts receivable	291	1.150.397.211	2.145.108.433
Stocks and contracts in progress	3	.	.
Stocks	30/36	.	.
Raw materials and consumables	30/31	.	.
Work in progress	32	.	.
Finished goods	33	.	.
Goods purchased for resale	34	.	.
Immovable property intended for sale	35	.	.
Advance payments	36	.	.
Contracts in progress	37	.	.
Amounts receivable within one year	40/41	1.591.293.825	633.833.969
Trade debtors	40	19.411.606	17.794.359
Other amounts receivable	41	1.571.882.219	616.039.610
Current investments	50/53	156.395.951	153.019.315
Own shares	50	155.725.242	141.173.133
Other investments	51/53	670.709	11.846.182
Cash at bank and in hand	54/58	27.574.494	29.147.252
6.6 Deferred charges and accrued income	490/1	209.912.736	234.519.998
TOTAL ASSETS	20/58	7.970.205.375	8.001.837.531

Nr. BE 0403.053.608

	Discl.	Codes	Period	Preceding period
EQUITY AND LIABILITIES
EQUITY		10/15	5.547.611.071	5.737.136.602
Capital		10	583.516.974	583.516.974
Issued capital		100	583.516.974	583.516.974
Uncalled capital		101	.	.
Share premium account		11	1.999.541.662	1.999.541.662
Revaluation surpluses		12
Reserves		13	2.964.552.435	3.154.077.966
Legal reserve		130	58.351.698	58.351.697
Reserves not available		131	155.725.242	141.173.133
In respect of own shares held		1310	155.725.242	141.173.133
Other		1311	.	.
Untaxed reserves		132	.	.
Available reserves		133	2.750.475.495	2.954.553.136
Accumulated profits (losses)		14	.	.
Investment grants		15		.
Advance to associates on the sharing out of the assets		19	.	.
PROVISIONS AND DEFERRED TAXES		16	41.411.404	47.637.011
Provisions for liabilities and charges		160/5	41.411.404	47.637.011
Pensions and similar obligations		160	254.779	333.569
Taxation		161	.	.
Major repairs and maintenance		162	.	.
Environmental obligations		163	.	.
Other liabilities and charges	6.8	164/5	41.156.625	47.303.442
Deferred taxes		168

$Nr.$

BE 0403.053.608

$F3.2$

BE 0403.053.608				F 3.2

	Discl.	Codes	Period	Preceding period
AMOUNTS PAYABLE		17/49	2.381.182.900	2.217.063.918
Amounts payable after more than one year	6.9	17	1.500.625.501	1.526.567.953
Financial debts		170/4	1.500.625.501	1.526.567.953
Subordinated loans		170
Unsubordinated debentures		171	1.200.717.000	1.200.717.000
Leasing and other similar obligations		172
Credit institutions		173
Other loans		174	299.908.501	325.850.953
Trade debts		175
Suppliers		1750
Bills of exchange payable		1751
Advances received on contracts in progress		176
Other amounts payable		178/9
Amounts payable within one year	6.9	42/48	830.149.068	600.966.963
Current portion of amounts payable after more than one year
falling due within one year		42
Financial debts		43	561.263.567	328.022.671
Credit institutions		430/8	9.292.931	3.327
Other loans		439	551.970.636	328.019.344
Trade debts		44	15.204.473	18.142.837
Suppliers		440/4	15.204.473	18.142.837
Bills of exchange payable		441
Advances received on contracts in progress		46
Taxes, remuneration and social security	6.9	45	26.097.187	20.744.252
Taxes		450/3	9.826.908	10.350.445
Remuneration and social security		454/9	16.270.279	10.393.807
Other amounts payable		47/48	227.583.841	234.057.203
Accruals and deferred income	6.9	492/3	50.408.331	89.529.002
TOTAL LIABILITIES		10/49	7.970.205.375	8.001.837.531

INCOME STATEMENT

	Discl.	Codes	Period	Preceding period
Operating income Turnover	6.10	70/76A 70	77.215.918	69.990.026
Stocks of finished goods and work and contracts in progress: increase (decrease) (+)/(-) Own work capitalised Other operating income	6.10	71 72 74	77.215.918	660 69.989.366
Non-recurring operating income	6.12	76A
Operating charges Raw materials, consumables		60/66A 60	130.815.270	117.459.062
Purchases		600/8
Stocks: decrease (increase) (+)/(-)		609
Services and other goods		61	47.345.757	44.315.007
Remuneration, social security costs and pensions (+)/(-) Depreciation of and other amounts written off formation	6.10	62	84.384.939	77.364.265
expenses, intangible and tangible fixed assets Amounts written off stocks, contracts in progress and trade		630	2.276.961	2.373.373
debtors: Appropriations (write-backs) (+)/(-) Provisions for liabilities and charges: Appropriations (uses	6.10	631/4		4.773
(+)/(-) and write-backs)	6.10	635/8	-6.925.607	-8.131.607
Other operating charges	6.10	640/8	3.033.220	2.160.251
Operating charges carried to assets as restructuring costs(-)		649
Non-recurring operating charges	6.12	66A	700.000	-627.000
Operating profit (loss) (+)/(-)		9901	-53.599.352	-47.469.036

	Discl.	Codes	Period	Preceding period
Financial income		75/76B	181.262.054	472.984.064
Recurring financial income		75	177.791.594	447.789.571
Income from financial fixed assets		750	92.271.231	248.763.549
Income from current assets		751	80.432.734	114.925.714
Other financial income	6.11	752/9	5.087.629	84.100.308
Non-recurring financial income	6.12	76B	3.470.460	25.194.493
Financial charges		65/66B	91.301.880	263.773.182
Recurring financial charges	6.11	65	91.301.880	176.336.345
Debt charges		650	75.053.402	91.775.816
Amounts written off current assets except stocks, contracts
in progress and trade debtors: appropriations (write-backs)
(+)/(-)		651
Other financial charges		652/9	16.248.478	84.560.529
Non-recurring financial charges	6.12	66B		87.436.837
Gain (loss) for the period before taxes (+)/(-)		9903	36.360.822	161.741.846
Transfer from deferred taxes		780
Transfer to deferred taxes		680
Income taxes (+)/(-)	6.13	67/77	37.307	1.118.928
Taxes		670/3	37.307	1.118.998
Adjustment of income taxes and write-back of tax provisions		77		70
Gain (loss) of the period (+)/(-)		9904	36.323.515	160.622.918
Transfer from untaxed reserves		789
Transfer to untaxed reserves		689
Gain (loss) of the period available for appropriation (+)/(-)		9905	36.323.515	160.622.918

Nr. BE 0403.053.608 F 4

Nr.

APPROPRIATION ACCOUNT

	Codes	Period	Preceding period
Profit (loss) to be appropriated	9906	36.323.515	160.622.918
Gain (loss) of the period available for appropriation (+)/(-)	(9905)	36.323.515	160.622.918
Profit (loss) brought forward	14P
Withdrawals from capital and reserves	791/2	189.525.531	59.030.726
from capital and share premium account	791
from reserves	792	189.525.531	59.030.726
Transfer to capital and reserves	691/2
to capital and share premium account	691
to legal reserve	6920
to other reserves	6921
Accumulated profits (losses)	(14)
Owners' contribution in respect of losses	794
Profit to be distributed	694/7	225.849.046	219.653.644
Dividends	694	225.849.046	219.653.644
Directors' or managers' entitlements	695
Employees	696
Other beneficiaries	697

EXPLANATORY DISCLOSURES

STATEMENT OF FORMATION EXPENSES

	Codes	Period	Preceding period
Net book value at the end of the period	20P	xxxxxxxxxxxxxxx	15.679.970
Movements during the period
New expenses incurred	8002
Depreciation	8003	3.368.953
Other (+)/(-)	8004
Net book value at the end of the period	(20)	12.311.017
Of which
Formation or capital increase expenses, loan issue expenses and other
formation expenses	200/2	12.311.017
Restructuring costs	204

	Codes	Period	Preceding period
CONCESSIONS, PATENTS, LICENCES, KNOW-HOW, BRANDS AND SIMILAR RIGHTS
Acquisition value at the end of the period	8052P	xxxxxxxxxxxxxxx	1.336.464
Movements during the period
Acquisitions, including produced fixed assets	8022
Sales and disposals	8032
(+)/(-) Transfers from one heading to another	8042	90.431
Acquisition value at the end of the period	8052	1.426.895
Depreciations and amounts written down at the end of the period	8122P	xxxxxxxxxxxxxxx	942.808
Movements during the period
Recorded	8072	107.482
Written back	8082
Acquisitions from third parties	8092
Cancelled owing to sales and disposals	8102
Transferred from one heading to another (+)/(-)	8112
Depreciations and amounts written down at the end of the period	8122	1.050.290
NET BOOK VALUE AT THE END OF THE PERIOD	211	376.605

Nr. BE 0403.053.608 F 6.2.3

Nr. BE 0403.053.608				F 6.2.4
		Codes	Period	Preceding period
GOODWILL
Acquisition value at the end of the period		8053P	xxxxxxxxxxxxxxx	18.283.336
Movements during the period
Acquisitions, including produced fixed assets		8023
Sales and disposals		8033
Transfers from one heading to another	(+)/(-)	8043
Acquisition value at the end of the period		8053	18.283.336
Depreciations and amounts written down at the end of the period		8123P	xxxxxxxxxxxxxxx	18.283.336
Movements during the period
Recorded		8073
Written back		8083
Acquisitions from third parties		8093
Cancelled owing to sales and disposals		8103
Transferred from one heading to another (+)/(-)		8113
Depreciations and amounts written down at the end of the period		8123	18.283.336
NET BOOK VALUE AT THE END OF THE PERIOD		212

STATEMENT OF TANGIBLE FIXED ASSETS

	Codes	Period	Preceding period
LAND AND BUILDINGS
Acquisition value at the end of the period	8191P	xxxxxxxxxxxxxxx	6.449.354
Movements during the period
Acquisitions, including produced fixed assets	8161
Sales and disposals	8171
(+)/(-) Transfers from one heading to another	8181
Acquisition value at the end of the period	8191	6.449.354
Revaluation surpluses at the end of the period	8251P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8211
Acquisitions from third parties	8221
Cancelled	8231
Transferred from one heading to another (+)/(-)	8241
Revaluation surpluses at the end of the period	8251
Depreciations and amounts written down at the end of the period	8321P	xxxxxxxxxxxxxxx	639.470
Movements during the period
Recorded	8271	57.569
Written back	8281
Acquisitions from third parties	8291
Cancelled owing to sales and disposals	8301
Transferred from one heading to another (+)/(-)	8311
Depreciations and amounts written down at the end of the period	8321	697.039
NET BOOK VALUE AT THE END OF THE PERIOD	(22)	5.752.315

BE 0403.053.608				F 6.3.2
		Codes	Period	Preceding period

PLANT, MACHINERY AND EQUIPMENT
Acquisition value at the end of the period		8192P	xxxxxxxxxxxxxxx	1.486.302
Movements during the period
Acquisitions, including produced fixed assets		8162	102.573
Sales and disposals		8172
Transfers from one heading to another	(+)/(-)	8182	8.550
Acquisition value at the end of the period		8192	1.597.425
Revaluation surpluses at the end of the period		8252P	xxxxxxxxxxxxxxx
Movements during the period
Recorded		8212
Acquisitions from third parties		8222
Cancelled		8232
Transferred from one heading to another (+)/(-)		8242
Revaluation surpluses at the end of the period		8252
Depreciations and amounts written down at the end of the period		8322P	xxxxxxxxxxxxxxx	511.569
Movements during the period
Recorded		8272	219.336
Written back		8282
Acquisitions from third parties		8292
Cancelled owing to sales and disposals		8302
Transferred from one heading to another (+)/(-)		8312
Depreciations and amounts written down at the end of the period		8322	730.905
NET BOOK VALUE AT THE END OF THE PERIOD		(23)	866.520

BE 0403.053.608				F 6.3.3
		Codes	Period	Preceding period
FURNITURE AND VEHICLES
Acquisition value at the end of the period		8193P	xxxxxxxxxxxxxxx	5.426.777
Movements during the period
Acquisitions, including produced fixed assets		8163	16.092
Sales and disposals		8173	1.495.369
Transfers from one heading to another	(+)/(-)	8183	10.550
Acquisition value at the end of the period		8193	3.958.050
Revaluation surpluses at the end of the period		8253P	xxxxxxxxxxxxxxx
Movements during the period
Recorded		8213
Acquisitions from third parties		8223
Cancelled		8233
Transferred from one heading to another (+)/(-)		8243
Revaluation surpluses at the end of the period		8253
Depreciations and amounts written down at the end of the period		8323P	xxxxxxxxxxxxxxx	5.219.503
Movements during the period
Recorded		8273	88.669
Written back		8283
Acquisitions from third parties		8293
Cancelled owing to sales and disposals		8303	1.495.369
Transferred from one heading to another (+)/(-)		8313
Depreciations and amounts written down at the end of the period		8323	3.812.803
NET BOOK VALUE AT THE END OF THE PERIOD		(24)	145.247

BE 0403.053.608				F 6.3.5
		Codes	Period	Preceding period

OTHER TANGIBLE FIXED ASSETS
Acquisition value at the end of the period		8195P	xxxxxxxxxxxxxxx	1.418.240
Movements during the period
Acquisitions, including produced fixed assets		8165
Sales and disposals		8175
Transfers from one heading to another	(+)/(-)	8185
Acquisition value at the end of the period		8195	1.418.240
Revaluation surpluses at the end of the period		8255P	xxxxxxxxxxxxxxx
Movements during the period
Recorded		8215
Acquisitions from third parties		8225
Cancelled		8235
Transferred from one heading to another (+)/(-)		8245
Revaluation surpluses at the end of the period		8255
Depreciations and amounts written down at the end of the period		8325P	xxxxxxxxxxxxxxx	1.418.240
Movements during the period
Recorded		8275
Written back		8285
Acquisitions from third parties		8295
Cancelled owing to sales and disposals		8305
Transferred from one heading to another (+)/(-)		8315
Depreciations and amounts written down at the end of the period		8325	1.418.240
NET BOOK VALUE AT THE END OF THE PERIOD		(26)

	Codes	Period	Preceding period
ASSETS UNDER CONSTRUCTION AND ADVANCE PAYMENTS
Acquisition value at the end of the period	8196P	xxxxxxxxxxxxxxx	511.920
Movements during the period
Acquisitions, including produced fixed assets	8166	1.799.477
Sales and disposals	8176
(+)/(-) Transfers from one heading to another	8186	-109.530
Acquisition value at the end of the period	8196	2.201.867
Revaluation surpluses at the end of the period	8256P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8216
Acquisitions from third parties	8226
Cancelled	8236
Transferred from one heading to another (+)/(-)	8246
Revaluation surpluses at the end of the period	8256
Depreciations and amounts written down at the end of the period	8326P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8276
Written back	8286
Acquisitions from third parties	8296
Cancelled owing to sales and disposals	8306
Transferred from one heading to another (+)/(-)	8316
Depreciations and amounts written down at the end of the period	8326
NET BOOK VALUE AT THE END OF THE PERIOD	(27)	2.201.867

Nr. BE 0403.053.608 F 6.3.6

STATEMENT OF FINANCIAL FIXED ASSETS

	Codes	Period	Preceding period
AFFILIATED ENTERPRISES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8391P	xxxxxxxxxxxxxxx	4.866.618.568
Movements during the period
Acquisitions	8361	26.876.000
Sales and disposals	8371
Transfers from one heading to another (+)/(-)	8381
Acquisition value at the end of the period	8391	4.893.494.568
Revaluation surpluses at the end of the period	8451P	xxxxxxxxxxxxxxx
Movements during the period Recorded	8411
Acquisitions from third parties	8421
Cancelled	8431
Transferred from one heading to another (+)/(-)	8441
Revaluation surpluses at the end of the period	8451
Amounts written down at the end of the period	8521P	xxxxxxxxxxxxxxx	99.165.816
Movements during the period
Recorded	8471
Written back	8481	3.470.461
Acquisitions from third parties	8491
Cancelled owing to sales and disposals	8501
Transferred from one heading to another (+)/(-)	8511
Amounts written down at the end of the period	8521	95.695.355
Uncalled amounts at the end of the period	8551P	xxxxxxxxxxxxxxx
Movements during the period (+)/(-)	8541
Uncalled amounts at the end of the period	8551
NET BOOK VALUE AT THE END OF THE PERIOD	(280)	4.797.799.213
AFFILIATED ENTERPRISES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	281P	xxxxxxxxxxxxxxx
Movements during the period
Additions	8581
Repayments	8591
Amounts written down	8601
Amounts written back	8611
(+)/(-) Exchange differences	8621
(+)/(-) Other movements	8631
NET BOOK VALUE AT THE END OF THE PERIOD	(281)
ACCUMULATED AMOUNTS WRITTEN OFF AMOUNTS RECEIVABLE AT END OF THE PERIOD	8651

First - F2017 - 21 / 68

	Codes	Period	Preceding period
ENTERPRISES LINKED BY A PARTICIPATING INTEREST - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8392P	xxxxxxxxxxxxxxx	15.126.591
Movements during the period
Acquisitions	8362
Sales and disposals	8372
(+)/(-) Transfers from one heading to another	8382
Acquisition value at the end of the period	8392	15.126.591
Revaluation surpluses at the end of the period	8452P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8412
Acquisitions from third parties	8422
Cancelled	8432
Transferred from one heading to another (+)/(-)	8442
Revaluation surpluses at the end of the period	8452
Amounts written down at the end of the period	8522P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8472
Written back	8482
Acquisitions from third parties	8492
Cancelled owing to sales and disposals	8502
Transferred from one heading to another (+)/(-)	8512
Amounts written down at the end of the period	8522
Uncalled amounts at the end of the period	8552P	xxxxxxxxxxxxxxx
Movements during the period (+)/(-)	8542
Uncalled amounts at the end of the period	8552
NET BOOK VALUE AT THE END OF THE PERIOD	(282)	15.126.591
ENTERPRISES LINKED BY A PARTICIPATING INTEREST - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	283P	xxxxxxxxxxxxxxx
Movements during the period
Additions	8582
Repayments	8592
Amounts written down	8602
Amounts written back	8612
(+)/(-) Exchange differences	8622
(+)/(-) Other movements	8632
NET BOOK VALUE AT THE END OF THE PERIOD	(283)
ACCUMULATED AMOUNTS WRITTEN OFF AMOUNTS RECEIVABLE AT END OF
THE PERIOD	8652

	Codes	Period	Preceding period
OTHER ENTERPRISES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8393P	xxxxxxxxxxxxxxx	53.800

Movements during the period Acquisitions	8363
Sales and disposals	8373
(+)/(-) Transfers from one heading to another	8383
Acquisition value at the end of the period	8393	53.800
Revaluation surpluses at the end of the period	8453P	xxxxxxxxxxxxxxx

Movements during the period
Recorded	8413
Acquisitions from third parties	8423
Cancelled	8433
Transferred from one heading to another (+)/(-)	8443
Revaluation surpluses at the end of the period	8453
Amounts written down at the end of the period	8523P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8473
Written back	8483
Acquisitions from third parties	8493
Cancelled owing to sales and disposals	8503
Transferred from one heading to another (+)/(-)	8513
Amounts written down at the end of the period	8523
Uncalled amounts at the end of the period	8553P	xxxxxxxxxxxxxxx	2.015
(+)/(-) Movements during the period	8543
Uncalled amounts at the end of the period	8553	2.015

NET BOOK VALUE AT THE END OF THE PERIOD	(284)	51.785

OTHERS ENTERPRISES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	285/8P	xxxxxxxxxxxxxxx
Movements during the period
Additions	8583
Repayments	8593
Amounts written down	8603
Amounts written back	8613
Exchange differences (+)/(-)	8623
(+)/(-) Other movements	8633
NET BOOK VALUE AT THE END OF THE PERIOD	(285/8)
ACCUMULATED AMOUNTS WRITTEN OFF AMOUNTS RECEIVABLE AT END OF
THE PERIOD	8653

PARTICIPATING INTERESTS INFORMATION

PARTICIPATING INTERESTS AND SHARES IN OTHER ENTERPRISES

List of the enterprises in which the enterprise holds a participating interest, (recorded in heading 280 and 282 of assets) and the other enterprises in which the enterprise holds rights (recorded in headings 284 and 51/53 of assets) for an amount of at least 10 % of the capital issued.

		Rights held			Data extracted from the most recent annual accounts
NAME, full address of the REGISTERED OFFICE and for an enterprise governed by Belgian law, the		directly		subsidiari es	Annual	Curre	Capita land reserves	Net result
COMPANY IDENTIFICATION NUMBER	Nature	Number	%	%	accounts as per	ncy code	(+) or (-) (in units)
UCB Pharma SA BE 0403.096.168 Public limited company Allee de la Recherche 60 1070 Anderlecht Belgium	Ordinary				31/12/2017	EUR	2.587.349.973	-87.853.992
UCB Australia Pty. LTD Foreign company Level 1, 1155 Malvern Road (PO Box 158)	shares - IFRS	figures111.643.959	100,0	0,0
Australia					31/12/2017	AUD	24.363.502	1.631.146
	Ordinary shares - IFRS	figures 17.900.000	100,0	0,0
	Preferred shares	300.000	100,0	0,0
	Redeemable Preference Shares	4.800.000	100,0	0,0
UCB Finance NV Foreign company Hoge Mosten, 2 4822 NK BREDA
Netherlands	Ordinary shares - IFRS figures	538.459	100,0	0,0	31/12/2017	EUR	1.537.508.106	125.168.168
Vedim Pharma SA Foreign company Plaza de Manuel Gómez Moreno Madrid 28020
Spain					31/12/2017	EUR	60.915.376	-50.285.654

	Rights held				Data extracted from the most recent annual accounts
NAME, full address of the REGISTERED OFFICE and for an enterprise governed by Belgian law, the		directly		subsidiari es	Annual	Curre	Capita land reserves	Net result
COMPANY IDENTIFICATION NUMBER	Nature	Number	%	%	accounts as per	ncy code	(+) or (-) (in units)
UCB Japan Co LTD Foreign company Shinjuku Grand Tower, 8-17-1 Nishi-Shinjuku	Ordinary shares - IFRS figures	1.235.167	100,0	0,0
Shinjuku-ku, 160-0023, Tokyo Japan	Ordinary shares - IFRS figures	69.980	100,0	0,0	31/12/2017	JPY	6.016.079.504	1.045.078.196
UCB (Investments) LTD Foreign company Bath Road 208 SLOUGH, SL1 3WE Berkshire United Kingdom					31/12/2017	GBP	176.208.542	122.798.053
	Cumulative Preference Shares - IFRS	figures 44.928.426	100,0	0,0
	Ordinary Shares	1.000.100	100,0	0,0
UCB DE MEXICO S.A. de C.V. Foreign company Homero, 440 7° Floor Col. Chapultepec Morales, 11570 MEXICO D.F. Mexico					31/12/2017	MXN	118.946.188	18.520.179
	Ordinary shares - IFRS	figures 51.449.999	100,0	0,0
UCB Pharma France SA Foreign company rue Estienne d'Orves 420 F 92700 COLOMBES France					31/12/2017	EUR	110.796.997	4.406.019
UCB Pharma S.P.A. (Italy)	Ordinary shares - IFRS figures	551.539	99,99	0,01
Foreign company Via Varesina 162
Italy					31/12/2017	EUR	62.726.638	6.011.349

		Rights held			Data extracted from the most recent annual accounts
NAME, full address of the REGISTERED OFFICE and for an enterprise governed by Belgian law, the		directly		subsidiari es	Annual	Curre	Capita land reserves	Net result
COMPANY IDENTIFICATION NUMBER	Nature	Number	%	%	accounts as per	ncy code	(+) or (-) (in units)
UCB Pharma (Produtos Farmacêuticos) Lda Foreign company Rua Victor Câmara, Edifício Q 60, D. Maria I, Piso 1 60	Ordinary shares - IFRS figures	474.525	99,9	0,1
Portugal					31/12/2017	EUR	4.462.242	362.330
UCB A.E. (Greece) Foreign company	Ordinary shares - IFRS Figures	88.500	98,33	1,67
63, Agiou Dimitriou Street 17456 Alimos, Athens Greece					31/12/2017	EUR	8.521.366	736.992
	Ordinary shares - IFRS Figures	368.013	99,85	0,15
UCB (Pharma) Ireland LTD Foreign company Unit Drug House, Magna Drive Magna Business Park, DUBLIN 24 Ireland	Ordinary shares -				31/12/2017	EUR	2.808.230	68.593
	IFRS figures	59.999	99,99	0,01
UCB Korea Co LTD Foreign company 4th Fl., A+ Asset Tower, 369 Gangnam-daero, Seocho-gu Seoul 06621 Korea (Dem. People's Rep.)	Ordinary shares -				31/12/2017	KRW	11.763.192.269	2.788.514.849
	IFRS figures	138.666	100,0	0,0
UCB Biopharma Ltda. Foreign company Av. Brigadeiro Faria Limal 2005005 Rio de Janeiro Brazil					31/12/2017	BRL	236.297.616	1.017.795

		Rights held			Data extracted from the most recent annual accounts
NAME, full address of the REGISTERED OFFICE and for an enterprise governed by Belgian law, the		directly		subsidiari es	Annual	Curre	Capita land reserves	Net result
COMPANY IDENTIFICATION NUMBER	Nature	Number	%	%	accounts as per	ncy code	(+) or (-) (in units)
UCB Pharmaceuticals (Taiwan) Ltd Foreign company 12F.-2, No.88, Dunhua N. Rd., Songshan Dist	Ordinary shares - IFRS	figures537.774.156	99,99	0,01
Tapei China	Ordinary shares -				31/12/2017	TWD	33.537.282	9.136.695
	IFRS figures	1	100,0	0,0
UCB Trading (SG) Pte Ltd Foreign company Marina Boulevard 8 018981 Singapore Singapore					31/12/2017	SGD	313.272	54.826
	Ordinary shares - IFRS figures	244.001	100,0	0,0
UCB Trading Malaysia Sdn Bhd Foreign company The Gardens South Tower Kuala Lumpur Malaysia	Ordinary shares -				31/12/2017	MYR	138.252	-300.138
	IFRS figures	400.000	100,0	0,0
UCB Trading (Thailand) Ltd. Foreign company Sathorn Square 98
Thailand	Ordinary shares - IFRS	figures 19.999.998	99,99	0,01	31/12/2017	THB	99.952.357	-47.642
UCB Trading (Shangai) CO LTD Foreign company Room 317, No. 439 Fu Te Xi Yi Road SHANGAI China					31/12/2017	CNY	12.368.822	3.972.366
	Ordinary shares - IFRS figures	1	100,0	0,0

		Rights held			Data extracted from the most recent annual accounts
NAME, full address of the REGISTERED OFFICE and for an enterprise governed by Belgian law, the		directly		subsidiari es	Annual	Curre	Capita land reserves	Net result
COMPANY IDENTIFICATION NUMBER	Nature	Number	%	%	accounts as per	ncy code	(+) or (-) (in units)
UCB Pharma A.S. (TURKEY) Foreign company Palladium Tower, Barbaros Mah., Kardelen Sok. No.2, Kat.24/80 Istanbul Turkey	Ordinary shares - IFRS figures	1.095.430	100,0	0,0	31/12/2017	TRY	67.914.939	29.517.445
UCB India Private Ltd Foreign company 504, Peninsula Towers, Ganpatrao Kadam Marg, Lower Parel, 400013 MUMBAI India	Ordinary				31/12/2017	INR	642.744.705	140.395.506
Uni-Mediflex Private Limited Foreign company	shares - IFRS figures	3.527	99,99	0,01
504, Peninsula Corporate Park Ganpatrao Kadam Marg 400013 Mumbay India	Ordinary shares - IFRS				31/12/2017	INR	7.832.091	0
UCB S.R.O. Foreign company Thamova 13 18600 PRAHA 8	figures	290.000	99,99	0,01
Czech Republic	Ordinary shares - IFRS	figures 12.300.600	100,0	0,0	31/12/2017	CZK	31.951.979	1.033.721
UCB GMBH Foreign company Alfred Nobelstrasse 10 D 40789 MONHEIM Germany	Shares -				31/12/2017	EUR	311.410.430	67.155.197
	IFRS figures	394.000	5,21	94,79

		Rights held		Data extracted from the most recent annual accounts
NAME, full address of the REGISTERED OFFICE and for an enterprise governed by Belgian law, the		directly		subsidiari es	Annual	Curre	Capita land reserves	Net result
COMPANY IDENTIFICATION NUMBER	Nature	Number	%	%	accounts as per	ncy code	(+) or (-) (in units)
UCB HUNGARY LTD Foreign company Obuda Gate Building, Arpad Fejelum utja 26-28, 1023 BUDAPEST Hungary	Shares -				31/12/2017	HUF	492.064.909	159.674.751
UCB Pharma Sp. z.o.o. (Poland) Foreign company Ul. Kruczkowskego 8 00-380 WARSAWA	IFRS	figures148.000.000	100,0	0,0
Poland	Ordinary shares - IFRS figures	236.456	78,05	21,95	31/12/2017	PLN	76.021.921	11.149.740
UCB Pharma LLC (Russia) Foreign company Shturvalnaya str. bldg 1 5 Moscow 1253645 Russian Federation	Ordinary shares - IFRS				31/12/2017	RUB	218.489.178	59.173.689
UCB Bulgaria EOOD Foreign company 15, Ljubata Str., Fl. 4 apt. 10-11 Lozenetz, Sofia 1407 Bulgaria	figures Ordinary	1	100,0	0,0	31/12/2017	BGN	774.304	190.665
UCB Pharma Logistics LLC Foreign company Perevedenovky pereulok, 13, building 21 Moscow 119048	shares - IFRS figures	500	100,0	0,0
Russian Federation	Ordinary shares - IFRS figures	1	100,0	0,0	31/12/2017	RUB	-636.543.100	-270.960.976

Nr.	BE 0403.053.608		F 6.5.1
-----	-----------------	--	---------

	Rights held Data extracted from the most recent annual accounts
NAME, full address of the REGISTERED OFFICE and for an enterprise governed by Belgian law, the		directly		subsidiari es	Annual	Curre	Capita land reserves	Net result
COMPANY IDENTIFICATION NUMBER	Nature	Number	%	%	accounts as per	ncy code	(+) or (-) (in units)
UCB Ventures SA BE 0667.816.096 Public limited company Allée de la Recherche 60 1070 Anderlecht Belgium	ordinary shares				31/12/2017	EUR	24.003.833	-9.742
UCB Manufacturing Ireland Ltd. Foreign company Shannon Industrial Estate	paid-up at 25% - IFRS	figures 59.999.999	99,99	0,01
Ireland					31/12/2017	EUR	172.568.340	13.069.343
	Classe A shares - IFRS figures Deferred ordinary shares	1.400.000 800.000	100,0 100,0	0,0 0,0
Dermira INC Foreign company Middlefield Rd Menlo Park 275 94025 California United States	Ordinary shares - IFRS				30/09/2017	USD	198.727.000	-179.174.000
	figures	1.841.234	4,44	0,0

Nr.	BE 0403.053.608	F 6.6

OTHER INVESTMENTS AND DEPOSITS, ALLOCATION DEFERRED CHARGES AND ACCRUED INCOME

	Codes	Period	Preceding period
INVESTMENTS: OTHER INVESTMENTS AND DEPOSITS
Shares and current investments other than fixed income investments	51	670.709	7.784
Shares - Book value increased with the uncalled amount	8681	670.709	7.784
Shares - Uncalled amount	8682
Precious metals and works of art	8683
Fixed income securities	52
Fixed income securities issued by credit institutions	8684
Fixed term accounts with credit institutions With residual term or notice of withdrawal	53
up to one month	8686
between one month and one year	8687
over one year	8688
Other investments not mentioned above	8689		11.838.398

	Period
DEFERRED CHARGES AND ACCRUED INCOME
Allocation of heading 490/1 of assets if the amount is significant
Fair market value on bonds	192.380.184
Deferred Insurance	7.439.679
Interest receivable	4.184.419
Other expenses to be carried forward	341.876
Unrealized exchange differences	5.566.579

Preceding period

STATEMENT OF CAPITAL AND SHAREHOLDING STRUCTURE

STATEMENT OF CAPITAL
Social capital
Issued capital at the end of the period	100P	XXXXXXXXXXXXXX		583.516.974
Issued capital at the end of the period	(100)	583.516.974
	Codes	Value		Number of shares
Changes during the period
		.		.
		.		.
		.
		.		.
Structure of the capital
Different categories of shares		583.516.974		194.505.658
Ordinary shares		.		.
		.		.
.		.		.
Registered shares	8702	XXXXXXXXXXXXXX		68.735.150
Shares dematerialized	8703	XXXXXXXXXXXXXX		125.770.508

	Codes	Uncalled amount		Capital called but not paid

Capital not paid Uncalled capital	(101)	.		XXXXXXXXXXXXX
Called up capital, unpaid	8712	XXXXXXXXXXXXX		.
Shareholders having yet to pay up in full
		.		.
		.		.
		.		.


			Codes	Period
Own shares
Held by the company itself
Amount of capital held			8721	155.725.242
Corresponding number of shares			8722	3.108.161
Held by the subsidiaries
Amount of capital held			8731	192.079.030
Corresponding number of shares			8732	3.186.516
Commitments to issue shares
Owing to the exercise of conversion rights
Amount of outstanding convertible loans			8740	.
Amount of capital to be subscribed			8741	.
Corresponding maximum number of shares to be issued			8742
Owing to the exercise of subscription rights
Number of outstanding subscription rights			8745
Amount of capital to be subscribed			8746
			8747
Corresponding maximum number of shares to be issued
Authorized capital not issued			8751	.

Codes

Period

Nr.	BE 0403.053.608	F 6.7.1

	Codes	Period
Shares issued, non representing capital
Distribution
Number of shares	8761
Number of voting rights attached thereto	8762
Allocation by shareholder
Number of shares held by the company itself	8771
Number of shares held by its subsidiaries	8781

Notifications received pursuant to the law of 2 May 2007 on disclosure of large shareholdings
Last update:	December 31, 2017		Situation as per
Share capital € 583,516,974
Total number of voting rights (= denominator)	194,505,658		13 March 2014
1 Financière de Tubize SA ('Tubize')
securities carrying voting rights (shares)	68,076,981	35.00%	18 December 2015
2 Schwarz Vermögensverwaltung GmbH Co. KG ('Schwarz')
securities carrying voting rights (shares)	2,021,404	1.04%	31 July 2017
Tubize + Schwarz(3)
securities carrying voting rights (shares)	70,098,385	36.04%
3 UCB SA/NV
securities carrying voting rights (shares)	3,108,161	1.60%	31 December 2017
assimilated financial instruments (options)(1)	0	0.00%	06 March 2017
assimilated financial instruments (other)(1)	0	0.00%	18 December 2015
Total	3,108,161	1.60%
4 UCB Fipar SA
securities carrying voting rights (shares)	3,186,516	1.64%	31 December 2017
assimilated financial instruments (options)(1)	435,000	0.22%	03 June 2015
assimilated financial instruments (other)(1)	0	0.00%	25 December 2015
Total	3,621,516	1.86%
UCB SA/NV + UCB Fipar SA(2)	6,729,677	3.46%
securities carrying voting rights (shares)	6,294,677	3.24%
assimilated financial instruments (options)(1)	435,000	0.22%
assimilated financial instruments (other)(1)	0	0.00%
Free float(4) (securities carrying voting rights (shares))	118,112,596	60.72%
5 The Capital Group Companies Inc.
securities carrying voting rights (shares)	9,721,375	4.998%	11 October 2017
6 Vanguard Health Care Fund			28 October 2014
securities carrying voting rights (shares)	9,741,353	5.01%
7 BlackRock, Inc.			01 June 2017
securities carrying voting rights (shares)	5,836,096	3.00%

(all percentages are calculated on the basis of the current total number of voting rights)

(1) Assimilated financial instruments within the meaning of article 6 of the Law of 2 May 2007 on the disclosure of large shareholdings, which, if exercised, grant an additional voting right: i.e., securities, options, futures, swaps, interest term agreements and other derivatives concerning existing securities carrying voting rights that grant their holder the right to acquire such securities carrying voting rights pursuant to an agreement that is binding under the applicable law and only on the holders' own initiative.

(2) UCB SA/NV indirectly controls UCB Fipar SA | art. 6, §5, 2° and art. 9, §3, 2° of the law on the disclosure of large shareholdings.

(3) Tubize and Schwarz have declared to be acting in concert | art. 6, §4 and 9, §3, 3° of the law on the disclosure of large shareholdings.

(4)Free float being the UCB shares not held by the reference shareholder (Tubize), Schwarz, UCB SA/NV or UCB Fipar SA. Only securities carrying voting rights (shares) held by these entities are taken into account for this calculation, to the exclusion of assimilated financial instruments.

Nr.	BE 0403.053.608		F 6.8
-----	-----------------	--	-------

PROVISIONS FOR OTHER LIABILITIES AND CHARGES

	Period
ANALYSIS OF THE HEADING 164/5 OF LIABILITIES IF THE AMOUNT IS SIGNIFICANT
Stock awards provision	19.420.223
Stock options provision	19.427.280
Stock appreciation rights provision	1.609.122
Restructuring provision	700.000

STATEMENT OF AMOUNTS PAYABLE, ACCRUED CHARGES AND DEFERRED INCOME

	Codes	Period
BREAKDOWN OF AMOUNTS PAYABLE WITH AN ORIGINAL PERIOD TO MATURITY OF MORE THAN ONE
YEAR, ACCORDING TO THEIR RESIDUAL TERM

Current portion of amounts payable after more than one year falling due within one year
Financial debts	8801
Subordinated loans	8811	.
Unsubordinated debentures	8821	.
Leasing and other similar obligations	8831
Credit institutions ………………………………………………………………………………………………	8841	.
Other loans ………………………………………………………………………………………………	8851	.
Trade debts ………………………………………………………………………………………………	8861	.
Suppliers ………………………………………………………………………………………………	8871	.
Bills of exchange payable	8881
Advance payments received on contract in progress	8891	.
Other amounts payable	8901	.
Total current portion of amounts payable after more than one year falling due within one year	(42)	.
Amounts payable with a remaining term of more than one but not more than five years
Financial debts ………………………………………………………………………………………………	8802	1.324.908.501
Subordinated loans	8812	.
Unsubordinated debentures	8822	1.025.000.000
Leasing and other similar obligations	8832	.
Credit institutions	8842
Other loans	8852	299.908.501
Trade debts ………………………………………………………………………………………………	8862	.
Suppliers	8872	.
Bills of exchange payable	8882
Advance payments received on contracts in progress	8892
Other amounts payable	8902

Total amounts payable with a remaining term of more than one but not more than five years	8912	1.324.908.501
Amounts payable with a remaining term of more than five years
Financial debts	8803	175.717.000
Subordinated loans ………………………………………………………………………………………………	8813	.
Unsubordinated debentures	8823	175.717.000
Leasing and other similar obligations	8833	.
Credit institutions	8843
Other loans ………………………………………………………………………………………………	8853
Trade debts	8863
Suppliers	8873
Bills of exchange payable	8883
Advance payments received on contracts in progress	8893
Other amounts payable	8903	.
Total amounts payable with a remaining term of more than five years	8913	175.717.000

Nr. BE 0403.053.608		F 6.9
	Codes	Period
GUARANTEED AMOUNTS PAYABLE (included in headings 17 and 42/48 of the liabilities)
Amounts payable guaranteed by Belgian public authorities
Financial debts	8921	. .
Subordinated loans	8931	.
Unsubordinated debentures	8941	.
Leasing and similar obligations	8951	.
Credit institutions ………………………………………………………………………………………………	8961
Other loans	8971	.
Trade debts	8981
Suppliers	8991
Bills of exchange payable	9001	.
Advance payments received on contracts in progress	9011	.
Remuneration and social security	9021	.
Other amounts payable	9051	.
Total amounts payable guaranteed by Belgian public authorities	9061
Amounts payable guaranteed by real securities or irrevocably promised by the enterprise on its own assets
Financial debts ………………………………………………………………………………………………	8922	.
Subordinated loans	8932
Unsubordinated debentures	8942
Leasing and similar obligations	8952	.
Credit institutions ………………………………………………………………………………………………	8962	.
Other loans ………………………………………………………………………………………………	8972	.
Trade debts	8982
Suppliers	8992	.
Bills of exchange payable	9002	.
Advance payments received on contracts in progress	9012	.
Taxes, remuneration and social security	9022
Taxes ………………………………………………………………………………………………	9032	.
Remuneration and social security	9042
Other amounts payable	9052	.
Total amounts payable guaranteed by real securities or irrevocably promised by the enterprise on its own assets	9062

	Codes	Period
TAXES, REMUNERATION AND SOCIAL SECURITY
Taxes (heading 450/3 of the liabilities)
Outstanding tax debts	9072
Accruing taxes payable	9073	9.826.195
Estimated taxes payable	450	713
Remuneration and social security (heading 454/9 of the liabilities)
Amounts due to the National Social Security Office	9076
Other amounts payable in respect of remuneration and social security	9077	16.270.279

$F6.9$

BE 0403.053.608		F69
		Period
ACCRUALS AND DEFERRED INCOME
Allocation of heading 492/3 of liabilities if the amount is significant
	Accrued interests	29.109.314
	Stock options recharges	11.816.654
	Other accrued charges	1.815.683
	Unrealized exchange differences	1.320.061
	Fair market value on bonds	6.346.583

OPERATING RESULTS

	Codes	Period	Preceding period
OPERATING INCOME
Net turnover
Allocation by categories of activity
		.
.		.
		.	.
		.	.
Allocation into geographical markets
.		.	.
.		.	.
		.	.
		.	.
Other operating income Operating subsidies and compensatory amounts received from public authorities	740	.	.
OPERATING CHARGES
Employees for whom the enterprise submitted a DIMONA declaration or who are recorded in the general personnel register
Total number at the closing date	9086	153	142
Average number of employees calculated in full-time equivalents	9087	148.6	142,2
Number of actual worked hours	9088	249.693	230.140
Personnel costs
Remuneration and direct social benefits	620	32.562.829	29.074.549
Employers' contribution for social security	621	11.802.274	5.204.687
Employers' premiums for extra statutory insurance	622	4.157.149	5.942.308
Other personnel costs	623	35.862.687	37.138.984
Retirement and survivors' pensions	624	.	3.737

BE 0403.053.608				F 6.10

		Codes	Period	Preceding period
Provisions for pensions and other similar rights
Appropriations (uses and write-backs)	(+)/(-)	635	-78.790	-458.402
Amounts written off
Stocks and contracts in progress
Recorded		9110
Written back		9111
Trade debts
Recorded		9112		4.772
Written back		9113
Provisions for liabilities and charges
Additions		9115
Uses and write-backs		9116	6.925.607	8.131.607
Other operating charges
Taxes related to operation		640	1.928.179	1.347.465
Other costs		641/8	1.105.041	812.786
Hired temporary staff and personnel placed at the enterprise's disposal
Total number at the closing date		9096
Average number calculated in full-time equivalents		9097	0,9	1,4
Number of actual worked hours		9098	1.814	2.662
Costs to the enterprise		617	48.173	73.987

First - F2017 - 39 / 68

Nr.	BE 0403.053.608	F 6.11

FINANCIAL RESULTS

	Codes	Period	Preceding period
RECURRING FINANCIAL INCOME
Other financial income Subsidies granted by public authorities and recorded as income for the period
Capital subsidies	9125
Interest subsidies	9126
Allocation of other financial income
Foreign exchange		4.422.096	83.635.567
Gains on disposal of equity securities		331.173	464.741
Other financial income		334.360	0
RECURRING FINANCIAL CHARGES
Depreciation of loan issue expenses	6501	1.565.048	2.422.633
Capitalized Interests	6503
Amounts written off current assets
Recorded	6510
Written back	6511
Other financial charges Amount of the discount borne by the enterprise, as a result of negotiating amounts receivable	653
Provisions of a financial nature
Appropriations	6560
Uses and write-backs	6561
Allocation of other financial charges
Foreign exchange (+)/(-)		10.870.116	83.988.273
Bank charges (+)/(-)		222.627	237.485
Various bank charges (+)/(-)		1.534.896	190.062
Loss on sale of options (+)/(-)		3.620.839	0

INCOME AND CHARGE OF EXCEPTIONAL SIZE OR INCIDENCE

	Codes	Period	Preceding period
NON RECURRING INCOME	76	3.470.461	25.194.493
Non-recurring operating income	(76A)
Write-back of depreciation and of amounts written off intangible and tangible fixed assets	760
Write-back of provisions for extraordinary operating liabilities and charges	7620
	7630
Capital gains on disposal of intangible and tangible fixed asset
Other non-recurring operating income	764/8
Non-recurring financial income	(76B)	3.470.461	25.194.493
Write-back of amounts written down financial fixed assets	761	3.470.461	25.194.493
Write-back of provisions for extraordinary financial liabilities and charges	7621
Capital gains on disposal of financial fixed assets	7631
Other non-recurring financial income	769
NON-RECURRING EXPENSES	66	700.000	86.809.837
Non-recurring operating charges	(66A)	700.000	-627.000
Non-recurring depreciation of and amounts written off formation expenses, intangible and tangible fixed assets	660
Provisions for extraordinary operating liabilities and charges: Appropriations (uses) (+)/(-)	6620	700.000	-627.000
Capital losses on disposal of intangible and tangible fixed assets	6630
Other non-recurring operating charges	664/7
Non-recurring operating charges carried to assets as restructuring costs .(-)	6690
Non-recurring financial charges	(66B)		87.436.837
Amounts written off financial fixed assets	661		87.436.837
Provisions for extraordinary financial liabilities and charges - Appropriations (uses) (+)/(-)	6621
Capital losses on disposal of financial fixed assets	6631
Other non-recurring financial charges	668
Non-recurring financial charges carried to assets as restructuring costs (-)	6691

INCOME TAXES AND OTHER TAXES

	Codes	Period
INCOME TAXES
Income taxes on the result of the period	9134	37.307
Income taxes paid and withholding taxes due or paid	9135	37.307
Excess of income tax prepayments and withholding taxes paid recorded under assets	9136
Estimated additional taxes	9137
Income taxes on the result of prior periods	9138	.
Additional income taxes due or paid	9139
Additional income taxes estimated or provided for	9140
In so far as taxes of the period are materially affected by differences between the profit before taxes as stated in annual accounts and the estimated taxable profit
Reversal of impairments on shares		$-3.470.461$
Taxed provisions		$-5.309.904$
Dividend received deduction		$-49.512.570$
Disallowed expenses		21.794.388

Impact of non recurring results on the amount of the income taxes relating to the current period
	.

	Codes	Period
Status of deferred taxes Deferred taxes representing assets Accumulated tax losses deductible from future taxable profits	9141 9142	226.095.937
Other deferred taxes representing assets Dividend received deduction		226.095.937
Deferred taxes representing liabilities Allocation of deferred taxes representing liabilities	9144	.
.		. .

	Codes	Period	Preceding period
VALUE ADDED TAXES AND OTHER TAXES BORNE BY THIRD PARTIES
Value added taxes charged
To the enterprise (deductible)	9145	8.377.203	12.248.839
By the enterprise	9146	5.233.753	9.431.858
Amounts withheld on behalf of third party
For payroll withholding taxes	9147	18.578.104	12.099.976
For withholding taxes on investment income	9148	33.218.068	27.970.001

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

	Codes	Period
PERSONAL GUARANTEES PROVIDED OR IRREVOCABLY PROMISED BY THE ENTERPRISE AS SECURITY FOR DEBTS AND COMMITMENTS OF THIRD PARTIES	9149
Of which
Bills of exchange in circulation endorsed by the enterprise	9150
Bills of exchange in circulation drawn or guaranteed by the enterprise	9151
Maximum amount for which other debts or commitments of third parties are guaranteed by the
enterprise	9153
REAL GUARANTEES
Real guarantees provided or irrevocably promised by the enterprise on its own assets as security of debts and commitments of the enterprise
Mortgages
Book value of the immovable properties mortgaged	9161
Amount of registration	9171
Pledging of goodwill - Amount of the registration	9181
Pledging of other assets - Book value of other assets pledged	9191
Guarantees provided on future assets - Amount of assets involved	9201
Real guarantees provided or irrevocably promised by the enterprise on its own assets as security of debts and commitments of third parties Mortgages
Book value of the immovable properties mortgaged	9162
Amount of registration	9172
Pledging of goodwill - Amount of the registration	9182
Pledging of other assets - Book value of other assets pledged	9192
Guarantees provided on future assets - Amount of assets involved	9202

Nr. BE 0403.053.608		F 6.14
	Codes	Period
GOODS AND VALUES, NOT DISCLOSED IN THE BALANCE SHEET, HELD BY THIRD PARTIES IN THEIR OWN NAME BUT AT RISK TO AND FOR THE BENEFIT OF THE ENTERPRISE


		.
SUBSTANTIAL COMMITMENTS TO ACQUIRE FIXED ASSETS



SUBSTANTIAL COMMITMENTS TO DISPOSE OF FIXED ASSETS



FORWARD TRANSACTIONS
Goods purchased (to be received)	9213
Goods sold (to be delivered)	9214
Currencies purchased (to be received)	9215	889.743.406
Currencies sold (to be delivered)	9216	966.695.786

Nr.	BE 0403.053.608		F 6.14

			Period
		COMMITMENTS RELATING TO TECHNICAL GUARANTEES IN RESPECT OF SALES OR SERVICES





			Period
		AMOUNT, NATURE AND FORM CONCERNING LITIGATION AND OTHER IMPORTANT COMMITMENTS

SUPPLEMENT RETIREMENTS OR SURVIVORS PENSION PLANS IN FAVOUR OF THE PERSONNEL OR THE EXECUTIVES OF THE ENTERPRISE

Brief description

UCB SA has made regulations setting out an objective to be attained concerning the resources to be made available to retired salaried staff.

............................................................................................................................................................................. ........................

The objective decided upon is to be achieved by the payment to those retired, over and above the legal pension of :

a) pensions or lump sums resulting from the maturity at the time of their retirement of group insurance policies,

whose premiums have been paid by the person concerned throughout his career ;

b) possible pensions paid by the ASBL Fonds de Prévoyance UCB, a supplementary pension fund maintained from monthly payments made by the company ;

c) a special sum, depending on the length of service, paid by the company on their retirement.

UCB SA has also subscribed to insurance policies in favor of the heirs of its salaried staff covering :

- death benefit

- temporary pensions to orphans.

These insurances are financed by the payment of annual premiums by the company.

In addition, the company pays to a widow of a salaried staff employee, who dies in service, a special payment as an additional widow's pension.

Measures taken by the enterprise to cover the resulting charges

	Codes	Period
PENSIONS FUNDED BY THE ENTERPRISE
Estimated amount of the commitments resulting from past services	9220
Methods of estimation

	Period
NATURE AND FINANCIAL IMPACT OF SIGNIFICANT EVENTS AFTER THE CLOSING DATE NOT INCLUDED IN THE BALANCE SHEET OR THE INCOME STATEMENT

Nr.	BE 0403.053.608		F 6.14
			Period
		COMMITMENTS TO PURCHASE OR SALE AVAILABLE TO THE COMPANY AS ISSUER OF OPTIONS FOR SALE OR
PURCHASE			.
			.

			Period
	THE BALANCE SHEET	NATURE, COMMERCIAL OBJECTIVE AND FINANCIAL CONSEQUENCES OF TRANSACTIONS NOT REFLECTED IN
		Provided that the risks or advantages coming from these transactions are significant and if the disclosure of the risks or advantages is necessary to appreciate the financial situation of the company

OTHER RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET (including those which can not be quantified)

	.
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

$\ldots\ldots\ldots\ldots\ldots\ldots\ldots\ldots\ldots\ldots\ldots\ldots\ldots\$

......................

RELATIONSHIPS WITH AFFILIATED ENTERPRISES, ASSOCIATED ENTERPRISES AND OTHERS ENTERPRISES LINKED BY PARTICIPATING INTERESTS

	Codes	Period	Preceding period
AFFILIATED ENTERPRISES
Financial fixed assets	(280/1)	4.797.799.213	4.767.452.752
Participating interests	(280)	4.797.799.213	4.767.452.752
Subordinated amounts receivable	9271
Other amounts receivable	9281
Amounts receivable	9291	2.739.208.221	2.776.170.778
Over one year	9301	1.150.222.956	2.144.980.001
Within one year	9311	1.588.985.265	631.190.777
Current investments	9321
Shares	9331
Amounts receivable	9341
Amounts payable	9351	537.352.605	309.056.606
Over one year	9361
Within one year	9371	537.352.605	309.056.606
Personal and real guarantees
Provided or irrevocably promised by the enterprise as security for debts or
commitments of affiliated enterprises	9381
Provided or irrevocably promised by affiliated enterprises as security for debts or commitments of the enterprise	9391
Other significant financial commitments	9401
Financial results
Income from financial fixed assets	9421	92.270.766	248.763.548
Income from current assets	9431	80.423.545	107.689.704
Other financial income	9441	762.964	45.431.691
Debt charges	9461	25.258.896	5.550.292
Other financial charges	9471	21.166.572	39.323.681
Disposal of fixed assets
Capital gains obtained	9481
Capital losses suffered	9491

	Codes	Period	Preceding period
ASSOCIATED ENTERPRISES
Financial fixed assets	9253	.
Participating interests	9263	.	.
Subordinated amounts receivable	9273	.
Other amounts receivable	9283	.	.
Amounts receivable	9293	.
Over one year	9303	.
Within one year	9313	.	.
Amounts payable	9353		.
Over one year	9363		.
Within one year	9373	.
Personal and real quarantees
Provided or irrevocably promised by the enterprise as security for debts or
commitments of associated enterprises	9383	.
Provided or irrevocably promised by associated enterprises as security for debts or commitments of the enterprise	9393	.
Other significant financial commitments	9403	.
OTHER ENTERPRISES LINKED BY PARTICIPATING INTERESTS
Financial fixed assets	9252	15.126.591	15.126.591
Participating interests	9262	15.126.591	15.126.591
Subordinated amounts receivable	9272	.
Other amounts receivable	9282	.
Amounts receivable	9292	.
Over one year	9302	.
Within one year	9312	.	.
Amounts payable	9352	.	.
Over one year	9362
Within one year	9372	.	.

$Nr$ .

BE 0403.053.608

	Period
TRANSACTIONS WITH ENTERPRISES LINKED BY PARTICIPATING INTERESTS OUT OF MARKET CONDITIONS Mention of these transactions if they are significant, including the amount of the transactions, the nature of the link, and all information about the transactions which should be necessary to get a better understanding of the situation of the company

$F6.15$

FINANCIAL RELATIONSHIPS WITH

DIRECTORS, MANAGERS, INDIVIDUALS OR BODIES CORPORATE WHO CONTROL THE ENTERPRISE WITHOUT BEING ASSOCIATED THEREWITH OR OTHER ENTERPRISES CONTROLLED BY THESE PERSONS

	Codes	Period
Amounts receivable from these persons	9500
Conditions on amounts receivable, rate, duration, possibly reimbursed amounts, canceled amounts or renounced amounts

Guarantees provided in their favour	9501
Other significant commitments undertaken in their favour	9502
Amount of direct and indirect remunerations and pensions, included in the income statement, as long as this disclosure does not concern exclusively or mainly, the situation of a single identifiable person
To directors and managers	9503
To former directors and former managers	9504

AUDITORS OR PEOPLE THEY ARE LINKED TO

	Codes	Period
Auditor's fees	9505	417.750
Fees for exceptional services or special missions executed in the company by the auditor
Other attestation missions	95061	82.997
Tax consultancy	95062
Other missions external to the audit	95063	60.290
Fees for exceptional services or special missions executed in the company by people they are linked to
Other attestation missions	95081
Tax consultancy	95082	60.000
Other missions external to the audit	95083	20.850

Mentions related to article 133, paragraph 6 from the Companies Code

INFORMATION RELATING TO CONSOLIDATED ACCOUNTS

INFORMATION TO DISCLOSE BY EACH ENTERPRISE THAT IS SUBJECT TO COMPANY LAW ON THE CONSOLIDATED ACCOUNTS OF ENTERPRISES

The enterprise has prepared and published consolidated accounts and a consolidated report

VALUATION RULES

SUMMARY OF VALUATION RULES.

I. Formation expenses.

Formation expenses, which are not taken account of in the profit and loss account of the year, in which they are incurred, are depreciated over a maximum period of five year.

II. Intangible fixed assets.

The purchase price of patents, licenses and similar items has been depreciated at a minimum rate equal to that of the assets required to handle the patent or process and otherwise over three years by the straight line method.

From 1990, the purchase price of patents, licenses and similar items has been depreciated over a fixed number of years, whose number cannot be less than five, equivalent to 20 % per annum considering "prorata temporis".

The purchase price of patents, licenses and similar items can also be depreciated in function of a prudent appreciation on the duration of the economic life of this intangible asset.

The purchase or cost price of intangible fixed assets, other than those referred to above, and which are eligible for subsidies (costs of commercial studies, of organizations, etc.) have been wholly depreciated in the year in which these expenses were incurred.

Intangible fixed assets, whose depreciation is taken over a period of five years or less, are removed from the balance sheet along with the relevant depreciation during the fifth year following their inclusion in assets.

Software acquired which is not essential for the functioning of the computer system and of a value above 1.250 Euro has been treated as an intangible fixed assets and "prorata temporis" depreciated over five years on a straight line basis.

Intangible fixed assets, whose depreciation is taken over a period of five years or less, are removed from the balance sheet along with the relevant "prorata temporis" depreciation during the fifth year following their inclusion in assets.

The costs of new acquisitions haven been depreciated on a "prorata temporis" basis.

III. Tangible fixed assets.

Fixed assets purchased have been included in the assets on the balance sheet at their purchase price ; assets manufactured by the company itself have been valued at their cost price.

The purchase or cost price has been depreciated on a straight line basis considering "prorata temporis" at the usual rates agreed by the tax authorities which prevent overvaluation of the net value of fixed assets.

These annual rates of depreciation are as follows :
Buildings, houses	3 %
Administrative buildings	3 %
Industrial buildings	5 %
Tools	15 %
Furniture and office equipment	15 %
Vehicles	20 %
Computer equipment and office machinery	33 1/3 %
Prototype equipment	33 1/3 %

Tangible fixed assets sold to third parties have been written off at their gross value. At the same time the depreciation already taken in the previous year has been written back. The difference between the amount realized and the residual values gives rise to a surplus or deficit, which has been taken in the non recurring profits and losses.

Nr.	BE 0403.053.608		F 6.19
-----	-----------------	--	--------

Fixed assets taken out of use have followed the same procedure. The residual value has been depreciated in total and taken against exceptional profits.

In the case of the transfer (by sale or contribution) of a branch of activity or of a division, the depreciation relating to the tangible fixed assets thus transferred during the year has been calculated pro rata temporis to the holding in the company.

Reciprocally, the rule of pro rata temporis has been applied to those tangible fixed assets entering into the balance sheet of the company following the acquisition during the year of a branch of activity or of a division.

Software acquired essential for the functioning of the computer system has been treated as tangible fixed assets and has been depreciated in accordance with the rules in force for computer equipment, being 33 1/3 % per annum.

IV. Financial fixed assets.

Shareholdings have been valued individually each year by the Board of Directors on the basis of their valuation on the stock exchange, their realizable value, their income and their potential interest for the future of the UCB Group. Reductions in value, which have resulted, have been taken against non-recurring profits and losses.

V. Receivables and liabilities.

Have been entered on the balance sheet at their nominal value. Receivables have been written down if their repayment, when due, is wholly or partly uncertain or doubtful.

VI. Foreign currencies.

A. Foreign currency transactions

Non-monetary assets (and liabilities), such as inventories, real estate, participations, which have resulted in a foreign currency transaction, are and are recorded in the accounts at their acquisition value in EURO as Conversion of the amount in foreign currency at the exchange rate, adopted on the day on which the transaction was registered ("historical" price).

This rule also applies as regards the recording, in EURO, of claims and monetary debts denominated in foreign currency. At the end of the financial year, however, the countervalue in EURO of these items is remeasured on the basis of the average market price on the closing date of the accounts.

The translation differences, both positive and negative, resulting from these re-estimates are taken directly into account.

B. Fair value hedges : FX risks

Depending on the nature of the financial instrument and the presence of the underlying on the balance sheet, the impact of derivatives has been recognized directly in the income statement in accordance with IFRS (International Financial Reporting Standards) Balance sheet according to Belgian standards.

Since January 1, 2016, UCB SA has made a change in accounting rules in these statutory accounts in order to align the two accounting standards. The derivative products are now recognized directly in the profit and loss accounts in BEGAAP standards.

The Board approved this change in accounting rules to facilitate the closing process and align the statutory valuation rules under the BEGAAP standards with the Group's accounting policies under

F 6.19

International Financial Reporting Standards (IFRS) and thus facilitating comparison with IFRS.

C. Fair value hedges : interest rate risk

In case an IRS is concluded under the form of a fair value hedge, the interests to be paid for the loan will be offset by the interests to be received from the IRS in the entity where the loan is accounted for. However the changes in fair value of the derivative will not be offset with the changes in fair value of the loan as the loan will remain accounted for at amortised cost under Bgaap. Therefore, as there is no offsetting exposure for the changes in fair value of the derivative, the derivative will only be accounted for as an off-balance sheet commitment and the changes in fair value will not affect profit and loss accounts. This is in line with the guidance in advice 2011/18 issued by the Belgian Accounting Commission (see § III D. of the advice) which states that, in case an IRS is concluded as a hedging operation (as opposed to a speculative operation), the eventual (negative) fluctuation in market value of the IRS does not need to be taken in profit and loss since the change in market value of the loan does not need to be accounted for neither.

In case of a CCIRS (cross currency interest rate swap), the same rules will apply except for the foreign currency part of the derivative. In this particular case, the fluctuations in fair value of the CCIRS that are due to the forex component do have an offsetting exposure as the outstanding loan will be in foreign currencies which is revalued through profit and loss. In this case, the forex component of the derivative will be measured at fair value on the balance sheet and all fluctuations of this component will go through P&L. The interest rate component of the derivative will only be accounted for as an off-balance sheet commitment and disclosed in the notes to the financial statements. This is in line with advice 2011/18 issued by the Belgian Accounting Commission (see § III D. of the advice) as the change in fair value of the loan due to the forex component will be accounted for in profit and loss due to the current valuation rules whereby all revaluation effects of monetary assets and liabilities are accounted for through P&L.

D. Cash flow hedge : FX risks

The effects of changes in fair value of cash flow hedges will only be accounted for as an offbalance sheet commitment and disclosed in the notes. In case of a back-to-back cash flow hedge for FX risk concluded by the Treasury Center, the cash flow hedge will have an offsetting exposure; so in this case, the cash flow hedge will be accounted for at fair value in the balance sheet with fluctuations going through P&L.

In case the FX risk would be hedged by options, the same methodology as explained above will be followed. In case of hedging a forecasted transaction with options, the hedged transaction is not on the balance sheet yet and since there is no offsetting exposure for the derivative, the derivative will be accounted for as an off-balance sheet commitment and disclosed in the notes to the statutory financial statements.

In order to further align the Bgaap accounting treatment of hedged transactions with the IFRS accounting treatment, UCB also proposes to recognize the effective portion of changes in the fair value of derivative financial instruments that are designated and qualify as cash flow hedges, on the same line in the income statement as the hedged item (firm commitment/forecasted transaction) at the moment the hedged item affects profit or loss or on the same line in the balance sheet at the moment the hedged forecasted transaction results in the recognition of a non-financial asset or liability (as part of the initial measurement of that asset or liability). UCB proposes to use the same average rate methodology as adopted under IFRS for recognition of the effective portion of changes in the fair value of derivative financial instruments into P&L.

E. Cash flow hedge : interest rate risks

In case of an IRS accounted for as a cash flow hedge, the same accounting principles will apply as mentioned above under IRS concluded as fair value hedges. As there is no offsetting exposure for the changes in fair value of the derivative, the derivative will only be accounted for as an offbalance sheet commitment and the changes in fair value will not affect profit and loss accounts.

Nr.	BE 0403.053.608		F 6.19
-----	-----------------	--	--------

This is also applicable in case an IRS is concluded for a forecasted transaction. This is in line with § III C. (IRS as hedging for a loan with variable interest rate) and E. (IRS as hedging for a forecasted transaction) of the advice 2011/18 issued by the Belgian Accounting Commission.

As a result, the Bgaap accounting treatment of cash flow hedges that hedge the interest rate risk will be different from the IFRS accounting. Under IFRS the effects of changes in fair value of cash flow hedges will be accounted for in equity whereas under Bgaap these will only be accounted for as an off-balance sheet commitment and disclosed in the notes.

F. Net investment hedge

The net investment hedge will be accounted for as an off-balance sheet commitment and disclosed in the notes to its statutory financial statements except in case there would be an offsetting exposure. The Bgaap accounting of net investment hedges will be different from the IFRS accounting.

Under IFRS any impacts of net investment hedges are accounted for in equity. Under Bgaap these will be accounted for as an off-balance sheet commitment and disclosed in the notes to the financial statements unless there is an offsetting exposure in which case the hedge is accounted for at fair value on the balance sheet with fluctuations going through P&L.

VII. Accounting treatment of fair value adjustments on loans being acquired

UCB amended the accounting treatment of fair value adjustments on loans being acquired under the Belgian Generally Accepted Accounting Principles (BEGAAP), applicable to the 2016 full year accounts, as follows: UCB SA/NV will recognize the intercompany loans that are transferred from UCB Lux S.A. at nominal value and will recognize the differences between the acquisition value (= fair value) and the nominal value of these loans on an accrual account.

As a result of this change, a fair market value of € 207 million has been recognized as a deferred charge on the balance sheet and will be taken in income statement pro rata temporis on a linear basis over the remaining duration of the loans. The total net result for accounting year 2016 has been negatively affected by an amount of € 3 million instead of € 207 million in case of immediate recognition in the income statement (as per the old accounting rules).

The new accounting treatments are in the best interest of the Company and are in accordance with applicable laws and regulations.

VIII. Provisions for risk and charges.

All risks affecting the company, have been the subject of provision which are re-assessed each year, following the rules of prudence, good faith and sincerity.

RIGHTS AND COMMITMENTS NOT INCLUDED IN THE BALANCE SHEET.

DESCRIPTION OF THE SUPPLEMENTARY SCHEME FOR RETIREMENT AND SURVIVING DEPENDANTS PENSIONS.

I. Supplementary scheme for retirement pensions.

UCB SA has made regulations setting out an objective to be attained concerning the resources to be made available to retired salaried staff.

The objective decided upon is to be achieved by the payment to those retired, over and above the legal pension of :

a) pensions or lump sums resulting from the maturity at the time of their retirement of group insurance policies,

|--|

whose premiums have been paid by the person concerned throughout his career ; b) possible pensions paid by the ASBL Fonds de Prévoyance UCB, a supplementary pension fund maintained from monthly payments made by the company ; c) a special sum, depending on the length of service, paid by the company on their retirement.

II. Supplementary scheme for pensions to surviving dependants.

UCB SA has also subscribed to insurance policies in favor of the heirs of its salaried staff covering :

death benefit
temporary pensions to orphans.

These insurances are financed by the payment of annual premiums by the company. In addition, the company pays to a widow of a salaried staff employee, who dies in service, a special payment as an additional widow's pension.

III. Other Benefits.

UCB SA has made internal regulations providing income to be given to employees absent through accident, sickness, maternity, etc., for periods which vary according to their length of service.

Inspired by patients.

UCB

Société Anonyme / Naamloze Vennootschap

Allée de la Recherche, 60

B-1070 Anderlecht

RPM/RPR Brussels, 0403.053.608

Annual report of the Board of Directors for the financial year ended 31 December 2017

Dear Madam, Dear Sir,

In accordance with the legal requirements and those laid down in UCB SA/NV's Articles of Association, we are pleased to present you our report on the activities of our Company during the last financial year and submit to you, for your approval, the statutory annual accounts of UCB SA/NV for the financial year ended 31 December 2017.

UCB SA/NV is the parent company of the UCB Group and serves as a holding company, managing the activities of the UCB Group and its subsidiaries worldwide.

Please refer to the UCB Group 2017 Annual Report for an overview of the activities and consolidated results of the UCB Group.

F₇

$\mathbf{1}$

The Inspired by patients.
Driven by science.

1. Major events during the financial year 2017

1.1 End of product payment monetization agreement

In 2009, UCB SA/NV entered into a product payment monetization agreement with Bibeca Holdings Luxembourg SARL. In exchange for a fixed lump-sum payment of \$ 111 million, Bibeca Holdings Luxembourg SARL was entitled to receive a portion of the royalty streams that UCB SA/NV earned on the net sales of Asacol and Zyrtec in the United States of America over a fixed period of time.

In September 2017 UCB SA/NV completed the last reimbursement under this agreement for a total amount of \$26 million, as such UCB SA/NV has no further outstanding financial obligations anymore in relation to Bibeca Holdings Luxembourg SARL.

1.2 Pay up capital of subsidiaries

In order to enable UCB Ventures SA/NV to fulfil its financial obligations in relation to its investments. UCB SA/NV has been requested during 2017, as shareholder of UCB Ventures SA/NV, to pay up the capital for an additional amount of € 10 million. After this payment, the total paid-up capital in UCB Ventures SA/NV amounts to € 25 million.

1.3 Transfer of obligations under 2017 Performance Share Plan from UCB SA/NV to UCB Fipar SA/NV

Similar to previous years, the obligations of UCB SA/NV under the 2017 UCB Performance Share Plan have been transferred to UCB Fipar SA/NV. UCB Fipar SA/NV has received a compensation of € 8 million for assuming the obligations under this plan.

1.4 Transactions in UCB securities

During 2017, UCB SA/NV acquired 932 055 UCB shares and disposed of 903 430 UCB shares.

On 6 March 2017, UCB SA/NV also sold 1 000 000 options on UCB shares, previously purchased on 22 June 2015 and 7 July 2015 and with various maturity dates between 25 September 2017 and 25 June 2018, over-the-counter in two tranches of each 500 000 options, to the original bank counterparties. This operation generated a loss of $\epsilon$ 4 million.

As a result, on 31 December 2017, UCB SA/NV retained a total of 3 108 161 UCB shares representing 1.60% of the capital and a par value of €9 million. The amount reported in the balance sheet under the section "own shares" represents € 156 million.

F₇

Nr.

Inspired by patients.

1.5 Acquisition of participations held by Vedim Pharma S.A. in two UCB affiliates

On 21 December 2017, UCB SA/NV completed the share purchase agreements for the participations in two affiliates previously held by Vedim Pharma S.A. The purchase price has been determined based on the fair value of the affiliates. The concerned participations are listed below:

38 942 shares of UCB Pharma S.A. (France) for a total amount of €8 million; and $\bullet$
88 500 shares of UCB Pharma (Produtos Farmacêuticos Lda) for a total amount of €9 million. $\bullet$

1.6 Risk of impairment on the shares held by UCB SA/NV - Impairment test on participations

On 31 December 2017, an impairment testing has been performed on the shareholdings of UCB SA/NV. We can conclude that there is no risk and that there is no additional impairment to be considered.

This impairment testing also revealed that two historical impairment charges were not relevant anymore. Hence those impairment charges have been reversed for a total amount of €3 million related to UCB Pharma SA/NV and UCB Hungary Ltd.

The reversal of the historical impairment charges have been recognized in the financial results in the income statement of 2017.

2. Change in accounting policies

There were no changes in the accounting policies in 2017.

3. Internal controls in place regarding the establishment of the annual accounts

The Audit Committee, on behalf of the Board of Directors of UCB SA/NV, assessed the adequacy and effectiveness of the internal control system in detecting fraud, irregularities or infringement of laws, rules and regulations or material control failures on a regular basis. Internal control mechanisms are further described in the UCB Group 2017 Annual Report.

Major events after the balance sheet date 4.

On January 8 2018, the credit facility of €1 billion has been amended and extended till January 9 2023 (including the option to request further extensions of the maturity date by two additional years).

5. Conflicts of interest met during the financial year

There were no transactions or contractual relationships in 2017 between UCB SA/NV, including its affiliated companies, and a member of the Board of Directors giving rise to conflicts of interest, except as reported in section 1.9 (Application of article 523 of the Belgian Companies Code) of the Corporate Governance Statement included in the UCB Group 2017 Annual Report.

6. Financial information

Results at 31 December 2017

The operations of UCB SA/NV generated in 2017 a net profit of $\epsilon$ 36 million after tax compared to € 161 million in 2016.

The evolution in the net profit (decrease of $\epsilon$ 125 million) is mainly due to:

the decrease in dividends received from its subsidiaries for a total amount of € 157 million, mainly due to the absence of a dividend from UCB Lux S.A., which has been liquidated in 2016 with net liquidation proceeds amounting to €231 million, partly compensated by the dividends received in 2017 from UCB Manufacturing Ireland for a total amount of € 20 million and from UCB Finance NV for a total amount of €65 million;
the increase in other operating income for $\epsilon$ 7 million related to service agreements with the other affiliates;
the increase in the provision, to cover risk of share price changes of long-term incentives granted to the Executive Committee and certain categories of employees, for a total amount of €1 million;
the increase of the non-recurring operating expenses for an amount of $\epsilon$ 1 million related to a $\bullet$ restructuring provision;
the decrease of the interests income for a total amount of $\epsilon$ 35 million compensated by the $\bullet$ decrease of the interests expense for a total amount of €17 million, both driven by the Euribor rate;
the reversal of impairment charges on participation in 2017 for a total amount of € 3 million compared to an impairment charge of € 62 million in 2016 (please refer to section 1.6);
the increase of the other net financial loss for a total amount of € 10 million mainly as a result of the realised loss on the sale of options for a value of €4 million (please refer to section 1.4).

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Result appropriation

The total net profit of $\epsilon$ 36 million is available for distribution. The Board of Directors proposes the following allocation:

distribution to the shareholders of a gross dividend of $\epsilon$ 1.18 per share; and
drawing on available reserves for € 190 million. $\bullet$

The Board of Directors thus propose to pay, against delivery of coupon no. 21, a gross dividend of € 1.18 per share (giving right to a dividend net of Belgian 30% withholding tax of € 0.826). The aggregate amount to be distributed to the shareholders may fluctuate depending on the number of UCB shares held by UCB SA/NV (own shares) and its direct subsidiaries on the dividend approval date, as the UCB shares held by UCB SA/NV (own shares) and its direct subsidiaries are not entitled to a dividend. Per 1 January 2018, 191 397 497 UCB shares are entitled to a dividend, representing a total distribution of € 226 million. The Board of Directors will communicate at the General Meeting the total number of UCB shares entitled to the 2017 dividend and will submit the aggregate amount to be distributed to the shareholders for approval. The annual accounts of 2017 will be adapted accordingly.

Subject to the approval of the proposed dividend distribution by the General Meeting, coupon no. 21 will be payable as from 2 May 2018 at KBC Bank NV/SA, Havenlaan 12 Avenue du Port, 1080 Brussels (Belgium).

In accordance with the law, we request you to grant discharge to the Directors and the Statutory Auditor for the performance of their duties during the financial year ended 31 December 2017.

Balance Sheet items at 31 December 2017

On the balance sheet of UCB SA/NV at 31 December 2017, the total assets and liabilities amount to $\epsilon$ 7 970 million, as compared to € 8 002 million at 31 December 2016.

The variation on the balance sheet is mainly driven by:

the increase of participating interests in affiliates as a result of the acquisition of the participations in two UCB affiliates previously held by Vedim Pharma S.A. for a total amount of € 17 million (please refer to section 1.5) and the paid-up capital in UCB Ventures SA/NV for € 10 million (please refer to section 1.2);
the reclassification of an intra-group receivable amounting to £850 million with maturity date in 2018 from the long term intercompany receivable position to the short term intercompany receivable position;
the increase of the investments in own shares for a total amount of $\epsilon$ 15 million as a result of the acquisition of 932 055 UCB shares at a higher average price than the price applied for the disposal of 903 430 UCB shares during the year (please refer to section 1.4);

Inspired by patients. Driven by science.

the decrease in other investments due to the sale of 1 000 000 options on UCB shares for € 12 million (please refer to section 1.4);
the decrease of the deferred charges as a result of the deferral of the premium paid in 2016 $\bullet$ for the assignment of the intra-group receivables for a total amount of $\epsilon$ 221 million, hence in 2017 a total amount of € 25 million has been deferred;
the decrease in the available reserves for a total amount of € 190 million mainly driven by the proposed dividend distribution (please refer to section 6 Financial information - Result appropriation);
the decrease in the provision, to cover risk of share price changes of long-term incentives granted to the Executive Committee and certain categories of employees, for a total amount of €7 million mainly due to the transfer of obligations under the 2017 Performance Share Plan from UCB SA/NV to UCB Fipar SA/NV (please refer to section 1.3);
the reclassification of the portion of the loan with the European Investment Bank ("EIB") maturing in 2018, for a total value of € 26 million, from the long term financial debt position to the short term financial debt position;
the increase in the short term financial debt position for a total amount of $\epsilon$ 233 million as a result of the increase in the bank overdraft for a total amount of €9 million and the increase of the cash pooling position for a total amount of € 226 million;
the decrease of the deferred revenues for a total amount of $\epsilon$ 30 million as a result of decrease of the derivative financial instruments; and
the decrease of the deferred revenues for a total amount of $\epsilon$ 10 million as a result of the deferral of the revenue, related to stock options granted in 2013, in line with the exercise of options in 2017. On 31 December 2017, the outstanding revenue to be deferred amounts to €18 million.

7. Changes to the composition of the Board

Please refer to the Corporate Governance Statement in the UCB Group 2017 Annual Report for the changes in the Board composition in 2017 as well as the proposals for changes to the composition for 2018.

8. Financial instruments, risks of credit, risks of liquidity and risks of treasury

Please refer to the UCB Group 2017 Annual Report, "Notes to the Consolidated Financial Statements", Point 4 "Financial Risks Management".

9. Change of control

Please refer to section 1.8.9 of the of the Corporate Governance Statement included in the UCB Group 2017 Annual Report for a complete overview of all agreements including change of control provisions approved in and/or prior to 2017.

10. Activities in the area of research and development

The activities of UCB SA/NV are holding activities. There are no research and development activities at the level of UCB SA/NV.

11. Branches of UCB SA/NV

UCB SA/NV has no branches.

12. Corporate Governance Statement

The Corporate Governance Statement (including the Remuneration Report) is included in the UCB Group 2017 Annual Report.

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13. Non-financial information

In September 2017, a new Belgian legislation on non-financial information became effective. As relates to the Sustainability report, this legislation requires the company to report on five CSR areas: environmental, social and employee matters, human rights, anticorruption and bribery and diversity & inclusion.

The first four of these five areas are detailed in the UCB 2017 Sustainability Report. Further information on diversity and inclusion can be found in the management report of the Board of Directors included in the UCB Group 2017 Annual Report.

Brussels, 21 February 2018.

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Jean-Christophe Tellier Chief Executive Officer and Director

Evelyn du Monceau Chair of the Board

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Nr.	BE 0403.053.608	F 10

SOCIAL BALANCE SHEET

Number of joint industrial committee:	207

STATEMENT OF THE PERSONS EMPLOYED

EMPLOYEES FOR WHOM THE ENTERPRISE SUBMITTED A DIMONA DECLARATION OR WHO ARE RECORDED IN THE GENERAL PERSONNEL REGISTER

During the current period Codes		Total	1. Men	2. Women
Average number of employees
Full-time	1001	136,0	55,3	80,7
Part-time	1002	12,9	2,3	10,6
Total in full-time equivalents	1003	148,6	57,3	91,3
Number of hours actually worked
Full-time	1011	231.840	96.144	135.696
Part-time	1012	17.853	2.704	15.149
Total	1013	249.693	98.848	150.845
Personnel costs
Full-time	1021	78.351.370	32.492.297	45.859.073
Part-time	1022	6.033.569	913.829	5.119.740
Total	1023	84.384.939	33.406.126	50.978.813
Advantages in addition to wages	1033

During the preceding period Codes		P. Total	1P. Men	2P. Women
Average number of employees in FTE	1003	142,2	56,3	85,9
Number of hours actually worked	1013	230.140	91.492	138.648
Personnel costs	1023	77.360.529	30.754.626	46.605.903
Advantages in addition to wages	1033

Nr.	BE 0403.053.608			F 10
-----	-----------------	--	--	------

EMPLOYEES FOR WHOM THE ENTERPRISE SUBMITTED A DIMONA DECLARATION OR WHO ARE RECORDED IN THE GENERAL PERSONNEL REGISTER (continued)

At the closing date of the period		1. Full-time	2. Part-time	3. Total full-time equivalents
Number of employees		138	15	149,6
By nature of the employment contract
Contract for an indefinite period	110	134	15	145,6
Contract for a definite period	111	4		4,0
Contract for the execution of a specifically assigned work	112
Replacement contract	113
According to gender and study level
Men	120	57	2	58,6
primary education	1200
secondary education	1201
higher non-university education	1202	2	1	2,8
university education	1203	55	1	55,8
Women	121	81	13	91,0
primary education	1210
secondary education	1211	4	2	5,6
higher non-university education	1212	2	7	7,8
university education	1213	75	4	77,6
By professional category
Management staff	130	15		15,0
Employees	134	123	15	134,6
Workers	132
Others	133

HIRED TEMPORARY STAFF AND PERSONNEL PLACED AT THE ENTERPRISE'S DISPOSAL

During the period	Codes	1. Hired temporary staff
Average number of persons employed	150	0,9
Number of hours actually worked	151	1.814
Costs for the enterprise	152	48.173

By nature of employment contract

ENTRIES	Codes	1. Full-time	3. Total full-time equivalents
Number of employees for whom the entreprise submitted a DIMONA declaration or who have been recorded in the general personnel register during the financial year	205	37	37,0
By nature of employment contract
Contract for an indefinite period	210	34	34,0
Contract for a definite period	211	3	3,0
Contract for the execution of a specifically assigned work	212
Replacement contract	213

DEPARTURES		1. Full-time	3. Total full-time equivalents
Number of employees whose contract-termination date has been entered in DIMONA declaration or in the general personnel register during the financial year		26	26,0
By nature of employment contract
Contract for an indefinite period	310	22	22,0
Contract for a definite period	311	4	4,0
Contract for the execution of a specifically assigned work	312
Replacement contract	313
By reason of termination of contract
Retirement	340	1	1,0
Unemployment with extra allowance from enterprise	341
Dismissal	342	3	3,0
Other reason	343	22	22,0
the number of persons who continue to render services to
the enterprise at least half-time on a self-employed basis	350

Nr.	BE 0403.053.608	F 10

INFORMATION ON TRAINING PROVIDED TO EMPLOYEES DURING THE PERIOD

	Codes	Men	Codes	Women
Total of initiatives of formal professional training at the expense of the employer
Number of employees involved	5801	49	5811	83
Number of actual training hours	5802	714	5812	1.325
Net costs for the enterprise	5803	53.431	5813	87.350
of which gross costs directly linked to training	58031	46.209	58131	82.840
of which fees paid and paiments to collective funds	58032	7.222	58132	4.510
of which grants and other financial advantages received (to deduct)	58033		58133
Total of initiatives of less formal or informal professional training at the expense of the employer
Number of employees involved	5821		5831
Number of actual training hours	5822		5832
Net costs for the enterprise	5823		5833
Total of initiatives of initial professional training at the expense of the employer
Number of employees involved	5841	3	5851	4
Number of actual training hours	5842	3.504	5852	3.328
Net costs for the enterprise	5843	36.306	5853	35.056

AI assistant

UCB — Annual Report 2017

4017_rns_2018-03-23_d655d4e1-e05b-44bd-8548-6e2da4f3947c.pdf

ANNUAL ACCOUNTS AND OTHER DOCUMENTS TO BE FILED UNDER BELGIAN COMPANY LAW

IDENTIFICATION DETAILS

LIST OF DIRECTORS, BUSINESS MANAGERS AND AUDITORS AND DECLARATION REGARDING A COMPLIMENTARY REVIEW OR CORRECTION ASSIGNMENT

LIST OF THE DIRECTORS, BUSINESS MANAGERS AND AUDITORS

LIST OF THE DIRECTORS, BUSINESS MANAGERS AND AUDITORS (CONTINUED)

DECLARATION REGARDING A COMPLIMENTARY REVIEW OR CORRECTION ASSIGNMENT

ANNUAL ACCOUNTS

BALANCE SHEET AFTER APPROPRIATION

INCOME STATEMENT

APPROPRIATION ACCOUNT

EXPLANATORY DISCLOSURES

STATEMENT OF FORMATION EXPENSES

STATEMENT OF TANGIBLE FIXED ASSETS

STATEMENT OF FINANCIAL FIXED ASSETS

PARTICIPATING INTERESTS INFORMATION

PARTICIPATING INTERESTS AND SHARES IN OTHER ENTERPRISES

OTHER INVESTMENTS AND DEPOSITS, ALLOCATION DEFERRED CHARGES AND ACCRUED INCOME

STATEMENT OF CAPITAL AND SHAREHOLDING STRUCTURE

PROVISIONS FOR OTHER LIABILITIES AND CHARGES

STATEMENT OF AMOUNTS PAYABLE, ACCRUED CHARGES AND DEFERRED INCOME

OPERATING RESULTS

FINANCIAL RESULTS

INCOME AND CHARGE OF EXCEPTIONAL SIZE OR INCIDENCE

INCOME TAXES AND OTHER TAXES

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

Brief description

Measures taken by the enterprise to cover the resulting charges

RELATIONSHIPS WITH AFFILIATED ENTERPRISES, ASSOCIATED ENTERPRISES AND OTHERS ENTERPRISES LINKED BY PARTICIPATING INTERESTS

FINANCIAL RELATIONSHIPS WITH

AUDITORS OR PEOPLE THEY ARE LINKED TO

INFORMATION RELATING TO CONSOLIDATED ACCOUNTS

VALUATION RULES

A. Foreign currency transactions

D. Cash flow hedge : FX risks

E. Cash flow hedge : interest rate risks

OTHER DOCUMENTS TO BE FILED UNDER BELGIAN COMPANY LAW

Inspired by patients.

Annual report of the Board of Directors for the financial year ended 31 December 2017

The Inspired by patients.Driven by science.

1. Major events during the financial year 2017

1.1 End of product payment monetization agreement

1.2 Pay up capital of subsidiaries

1.3 Transfer of obligations under 2017 Performance Share Plan from UCB SA/NV to UCB Fipar SA/NV

1.4 Transactions in UCB securities

Inspired by patients.

1.5 Acquisition of participations held by Vedim Pharma S.A. in two UCB affiliates

1.6 Risk of impairment on the shares held by UCB SA/NV - Impairment test on participations

2. Change in accounting policies

3. Internal controls in place regarding the establishment of the annual accounts

Major events after the balance sheet date 4.

5. Conflicts of interest met during the financial year

6. Financial information

Results at 31 December 2017

Inspired by patients.

Result appropriation

Balance Sheet items at 31 December 2017

Inspired by patients. Driven by science.

7. Changes to the composition of the Board

8. Financial instruments, risks of credit, risks of liquidity and risks of treasury

9. Change of control

10. Activities in the area of research and development

11. Branches of UCB SA/NV

12. Corporate Governance Statement

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13. Non-financial information

STATEMENT OF THE PERSONS EMPLOYED

EMPLOYEES FOR WHOM THE ENTERPRISE SUBMITTED A DIMONA DECLARATION OR WHO ARE RECORDED IN THE GENERAL PERSONNEL REGISTER

EMPLOYEES FOR WHOM THE ENTERPRISE SUBMITTED A DIMONA DECLARATION OR WHO ARE RECORDED IN THE GENERAL PERSONNEL REGISTER (continued)

HIRED TEMPORARY STAFF AND PERSONNEL PLACED AT THE ENTERPRISE'S DISPOSAL

By nature of employment contract

INFORMATION ON TRAINING PROVIDED TO EMPLOYEES DURING THE PERIOD

More from UCB

UCB Annual Report 2017

The Inspired by patients.
Driven by science.

Luck Inspired by patients.
Driven by science.