www.se.com 372 Schneider Electric Universal Registration Document 2021 Chapter 5 – Consolidated financial statements at December 31, 2021 Note 13: Non-current financial assets Non-current financial assets, primarily comprising investments, are detailed below: (in millions of euros) % of interest Dec. 31, 2021 Dec. 31, 2020 Acquisitions disposals Fair value through P&L Fair value through Equity FX & others Fair value Fair value LISTED FINANCIAL ASSETS: Gold Peak Industries Holding Ltd 4.4% – – – – 2 2 Others (Unit gross value lower than EUR 3 million) – – – 13 13 – TOTAL LISTED FINANCIAL ASSETS – – – 13 15 2 UNLISTED FINANCIAL ASSETS: Funds Foundries 98 22 29 (17) 278 146 FCPR Aster II (part A, B, C and D) 38.3% 2 (5) – – 33 36 Sensetime & Stalagnate Fund China 51.0% – – – 4 44 40 FCPR SEV1 100.0% (5) (9) – – 6 20 SICAV SESS 6 3 .1% – – – 11 11 FCPI Energy Access Ventures Fund 28.6% – 1 – – 14 13 SICAV Livehoods Fund SIF 15.2% 1 (1) – – 3 3 Direct investments Planon 25.0% – – – (113) – 113 Alpi 100.0% – – – (26) – 26 Star Charge 1.5% – – 11 3 29 15 Raise Fundation 4.8% – – – – 9 9 Schneider Electric Energy Access 81.1% 1 – – – 5 4 Itris Automation 100.0% – – – (3) – 3 Others (Unit gross value lower than EUR 3 million) – – – (6) 2 8 TOTAL UNLISTED FINANCIAL ASSETS 97 8 40 (158) 434 447 PENSIONS ASSETS 17 (5) 193 19 370 146 OTHER 4 – – 30 215 181 TOTAL NON-CURRENT FINANCIAL ASSETS 118 3 233 (96) 1 034 776 The fair value of investments quoted in an active market corresponds to the stock price on the balance sheet date. “Others” include mainly loans to non-consolidated companies, and security deposits. Note 14: Deferred taxes by Nature Deferred taxes by type can be analyzed as follows: (in millions of euros) Dec. 31, 2021 Dec. 31, 2020 Tax loss carryforwards (net) 689 738 Provisions for pensions and other post-retirement benefit obligations (net) 240 371 Non-deductible provisions and accruals (net) 515 405 Differences between tax and accounting depreciation on tangible assets (net) 10 37 Differences between tax and accounting amortization on intangible assets (net) (1,040) (934) Differences on working capital (net) 187 171 Other deferred tax assets/(liabilities) (net) 222 279 TOTAL NET DEFERRED TAX ASSETS/(LIABILITIES) 823 1,067 of which total deferred tax assets 1,820 1, 984 of which total deferred tax liabilities 997 917 Deferred tax assets recorded in respect of tax losses carried forward at December 31, 2021 essentially concern France (EUR 500 million). These deficits can be carried forward indefinitely, and have been activated using the rate of 25.83%, in accordance with the applicable rate in the expected consumption horizon of 7 years. Unrecognised deferred tax losses amount EUR 143 million as of December 31, 2021, and are mainly related to Spain. 5.5 Notes to the consolidated financial statements