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Contact Us Convatec Argentina Argentina Belize Belize Brasil Brasil Canada (English) Canada (English) Canada (Français) Canada (Français) Chile Chile Colombia Colombia Costa Rica Costa Rica Curaçao Curaçao El Salvador El Salvador Ecuador Ecuador Guatemala Guatemala Guyana Guyana Honduras Honduras Jamaica Jamaica México México Nicaragua Nicaragua Panamá Panamá Perú Perú Puerto Rico Puerto Rico República Dominicana República Dominicana Suriname Suriname Venezuela Venezuela United States (English) United States (English) België België Bosna i Hercegovina Bosna i Hercegovina Česko Česko Danmark Danmark Deutschland Deutschland Eesti Eesti España España France France Hrvatska Hrvatska Ireland Ireland Ísland Ísland Italia Italia Latvija Latvija Lietuva Lietuva Magyarország Magyarország Malta Malta Nederland Nederland Norge Norge Polska Polska Portugal Portugal România România Schweiz (Deutsch) Schweiz (Deutsch) Suisse (Français) Suisse (Français) Slovenija Slovenija Slovensko Slovensko Srbija Srbija Suomi Suomi Sverige Sverige Türkiye Türkiye United Kingdom United Kingdom Österreich Österreich Ελλάδα Ελλάδα България България Македонија Македонија Россия Россия Україна Україна South-Africa South-Africa ישראל ישראל الأردن الأردن الإمارات العربية المتحدة الإمارات العربية المتحدة البحرين البحرين المملكة العربية السعودية المملكة العربية السعودية ایران ایران پاکستان پاکستان عُمان عُمان قطر قطر لبنان لبنان مصر مصر العراق العراق الكويت الكويت Australia Australia Hong Kong SAR Hong Kong SAR 中国香港 中国香港 India India Indonesia Indonesia Malaysia Malaysia New Zealand New Zealand Philippines Philippines Singapore Singapore Việt Nam Việt Nam ไทย ไทย 대한민국 대한민국 中国 中国 中国台湾 中国台湾 日本 日本

21 March 2017

READING, UNITED KINGDOM (21 March 2017) — Convatec Group Plc (“Convatec” or the “Group”), a leading global medical products and technologies company, has today published on the Group’s website its Annual Report & Accounts for the year ended 31 December 2016 (the "Annual Report"). The Annual Report is available at www.convatecgroup.com

In compliance with Listing Rule 9.6.1, a copy of the Annual Report will also shortly be submitted to the National Storage Mechanism and will be available for inspection at www.morningstar.co.uk/uk/NSM.

The Annual Report, together with notice of the Group’s Annual General Meeting to be held on 11 May 2017, will be sent to shareholders later this month, at which point a further announcement will be made.

Goodwill correction

When finalising the Financial Statements, an incorrect allocation was identified in the foreign currency apportionment of goodwill arising on the acquisition of Convatec from Bristol-Myers Squibb on 1 August 2008. The allocation was made on the original recording of the acquisition in 2008. The allocation solely impacts the translation of foreign exchange on goodwill reflected through the cumulative translation reserve. As a result, foreign exchange movements related to goodwill were misstated. The Group's Financial Statements set out in the Annual Report have been restated to reflect the appropriate amounts and the impact is shown in Note 14 to the Financial Statements on pages 123-124 of the Annual Report. Note 14 also gives additional information on the impact on the Group’s goodwill in the Financial Statements for the years ended 31 December 2013 and 2014 that were included within the prospectus published in connection with the Group’s IPO. The correction has resulted in an increase of $45.6 million in the amounts recorded for the Group's goodwill and equity as at 31 December 2016, compared to the previously published amounts in the preliminary statement released on 2 March 2017.
This non-cash adjustment does not impact any of the Group’s Key Performance Indicators including earnings per share, Adjusted EBITDA, Adjusted EBIT, tax expense, the Consolidated Statement of Profit or Loss, the Consolidated Statement of Cash Flows, or compliance with debt covenants.

About Convatec

Convatec is a global medical products and technologies company focused on therapies for the management of chronic conditions. The Company is listed on the London Stock Exchange (stock symbol: CTEC) and has leading market positions in advanced wound care, ostomy care, continence and critical care, and infusion devices. Convatec's products provide a range of clinical and economic benefits, including infection prevention, protection of at-risk skin, improved patient outcomes and reduced total cost of care. www.convatecgroup.com

Enquiries

Bobby Leach, VP Group Corporate Affairs, Convatec   +44 (0)7770 842 226
Rebecca Fitchett, Finsbury                                                 +44 (0)207 251 3801

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