CYBERSOURCE LTD.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

RSM UK LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors have adopted the going concern basis in preparing these financial statements having given due consideration to the liabilities of the company, the financial resources available to meet its obligations and the consistent earnings growth over the years. The directors have also considered the impact of a severe but plausible downside scenario in their assessment. The company supplies its services to third party entities, however the structure of the transfer pricing arrangements with Cybersource US are such that should third party revenues experience significant deterioration to the extent that the company is loss making, Cybersource US will recompense the company such that its operating profit margin is 5%. Cybersource US, and ultimate parent Visa Inc. balance sheets have sufficient capacity to withstand significant interruption without jeopardizing their capital or liquidity positions. The period covered by the directors' assessment of going concern is greater than twelve months from the date of approval of the financial statements.”

Group structure

1. CYBERSOURCE LTD. · parent
   1. Cybersource France SAS 100% · France · provide services to financial institutions and technology partners to facilitate the processing of payments, fraud detection, and security of web-based payments via mobile phones and call centers.
   2. Cybersource Spain S.L. 100% · Spain · currently not engaged in any type of business activities.

Significant events

• “Subsequent to the balance sheet date, management decided to take the necessary steps to initiate a simultaneous wind-up and liquidation of the 100% owned subsidiary Cybersource Spain S.L. entity (see note 15).”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

3

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.