Investor Presentation BPCE Inaugural RAC Tier 2

Investor PresentationBPCE Inaugural RAC Tier 2

September 2021

2 INVESTOR PRESENTATION

Disclaimer

This presentation has been prepared exclusively by the management of BPCE (the “Company”).

This presentation does not contain, constitute or form part of, and should not be construed as, an offer, solicitation or invitation to subscribe for, underwrite or otherwise acquire, or an inducement to invest in, any securities of the Company or any member of its group nor

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commitment whatsoever.

This presentation is an advertisement and is not a prospectus for the purposes of Regulation (EU) 2017/1129, as amended (the “Prospectus Regulation”). the Company has prepared a preliminary prospectus dated 28 September 28 (the “Preliminary Prospectus”), to which

reference is made. This presentation is qualified in its entirety by reference to the Preliminary Prospectus. Before you invest, you should read the Preliminary Prospectus for more information concerning the Notes and the Company. The information in the Preliminary

Prospectus supersedes the information therein to the extent that there are any inconsistencies. You may obtain a copy of the Preliminary Prospectus from Natixis.

Investors should not subscribe for or purchase any notes or other securities referred to in this presentation on the basis of this presentation, and except on the basis of the prospectus which is intended to be approved by the Autorité des Marchés Financier (the “AMF”) which

is the French competent authority for the purpose of the Prospectus Regulation. The AMF only approves the prospectus as meeting the standards of completeness, comprehensibility and consistency imposed by the Prospectus Regulation. By approving the prospectus, the

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the quality of the notes that are the subject of the prospectus. The prospectus will be published by the Company in due course in connection with the expected admission of the notes on the regulated market of Euronext Paris. The final prospectus, when published, will be

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balance sheet date. Actual future results may differ from these estimates.

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http://www.amf-france.org/


A cooperative bank with a diversified business model, leading positions, and strong commitments to society

Delivering solid performance based on synergies and moderate risk appetite

Operating with robust capital ratios, strong loss-absorbing capacity and high credit ratings

Global and innovative issuer, committed to society

02

03

04

05

Focus on the RAC Tier 2 Offering 01


Transaction rationale & investment thesis

Transaction

rationale

Investment thesis

ʘ Groupe BPCE’s inaugural RAC Tier 2 transaction, eligible to S&P’s Total Adjusted Capital (TAC), with an “Intermediate” Equity Content

ʘ 20.25NC5.25 and a potential 25NC10 Contingent Tier 2 Capital Subordinated Fixed Rate Resettable Notes (the “Notes”)

ʘ EUR denominated, benchmark size

ʘ Must-Pay coupons

ʘ 25% Principal Permanent Write-Down upon breach of a 7% Trigger on Groupe BPCE’s CET1 ratio

ʘ Expected ratings of [Baa3] by Moody’s, [BBB] by S&P and [A-] by Fitch

Transaction

summary

ʘ The proposed transaction will optimize and further strengthen Groupe BPCE’s capital structure and rating metrics:

• Support Groupe BPCE’s ‘Strong’ assessment of Capital & Earnings with a S&P RAC ratio as of December 31, 2020 slightly below 10 %

• Strengthen Groupe BPCE’s Tier 2 ratio, in line with the announcement of Groupe BPCE’s 2024 strategic plan (T2 ratio ≥ 2.5 % in 2024 vs. 1.9 % as of June 30,

2021(1))

• Contribute to Groupe BPCE’s best-in-class TLAC/Subordinated MREL position (22.9 % as of June 30, 2021(1))

ʘ First subordinated issuance from Groupe BPCE since 2016

ʘ Most junior instrument to be issued by Groupe BPCE, i.e. no Additional Tier 1 issuance plan in the foreseeable future

ʘ An instrument with a very low risk profile:

• No MDA risk (must-pay coupons)

• Dated instrument; eligible to an “Intermediate” S&P Equity Content till first call date

• A very large buffer to trigger: 8.6 % / €37.7 bn as of June 30, 2021(1)

• An expected rating broadly similar to a “vanilla” Tier 2 (Baa2 / BBB / A- by Moody’s / S&P / Fitch), reflecting Groupe BPCE’s best-in-class capitalization

ʘ Groupe BPCE, a cooperative banking group with a diversified business model and a moderate risk appetite:

• Solid senior ratings with A1 Moody’s, A S&P, A+ Fitch

• Very strong capital position, well above all minimum requirements (as of June 30, 2021):

• €68.4 bn of CET1 capital; CET1 ratio of 15.6 %(1), 625 bps above requirement

• Total Capital ratio of 17.5 %(1), 425 bps above requirement

• Leverage ratio of 5.7 %(1)

• Commitment to maintain a strong capitalization, with a target CET1 ratio of more than 15.5 % by 2024

• Moderate risk appetite; NPL ratio of 2.6 % as of June 30, 2021

• High liquidity position with a LCR of 168 % and liquidity reserves of €297 bn as of June 30, 2021

(1) Including full impact of the buyback of all Natixis minority shareholders

5

01Focus on the RAC Tier 2 Offering


Ensuring a very low

risk profile for the RAC

Tier 2

Operating with robust

capital ratios, strong

loss-absorbing

capacity and high

credit ratings

A large cooperative

banking group with a

diversified business

model, leading market

positions and

moderate risk

appetite

Groupe BPCE’s RAC Tier 2 - Investment thesis

15,6 %

7,0 %

8,6 %

Jun-21 CET1 Buffer RAC Tier 2trigger

BPCE SA Moody’s S&P Fitch

Senior LT A1 A A+

Outlook Stable Stable Negative

SNP Baa1 BBB+ A

Tier 2 Baa2 BBB A-

RAC Tier 2 [Baa3] [BBB] [A-]

Total Assets €1.45 tn(as of Jun-21)

Common

Equity€68.4 bn(as of Jun-21(3))

CET1 ratio 15.6 %(as of Jun-21(3))

CET1 target > 15.5 %(2024 target)

One of Europe’s leading and most robust banking groups: following Natixis’ minority shareholders

buyback, Groupe BPCE is the largest privately-held banking institution in Europe

One of the 30 G-SIBs

A universal bank with 2 business lines defined predominantly by retail activities in France (#2)(1)

and a global financial services business made up of an international footprint in AWM (#2

European Fund)(2) and CIB

Prudent provisioning policy and moderate risk appetite

Highly capitalized banking group, with ratios well above regulatory requirements and among

the highest across European banks:

ʘ €68.4 bn of CET1 capital, for a CET1 ratio of 15.6 %(3), 625 bps above requirement

ʘ Total Capital ratio of 17.5 %(3), 425 bps above requirement

ʘ Leverage ratio of 5.7 %(3)

Commitment to maintain a strong capitalization, with a target CET1 ratio of more than 15.5 %

by 2024

ʘ Mandatory coupons, i.e. no MDA risks

ʘ Dated instrument; eligible to an “Intermediate” S&P Equity Content till first call date

ʘ Extremely strong buffer-to-trigger at 857 bps / €37.7 bn(3)

ʘ Contingent loss absorption limited to 25 % of principal

The RAC Tier 2 is expected to be rated broadly in line with a Groupe BPCE “vanilla” Tier

2 at all three rating agencies

(1) Source BDF as of December 31, 2020 | (2) IPE “Top 400 asset managers” based in AuM as of December 2019 | (3) Including full impact of the buyback of all Natixis

minority shareholders

(3)


15,6 %

10,8 %7,3 % 7,0 %

Buffer: 475bps Buffer:

826bpsBuffer: 857bps

CET1 as of Jun-21 Total CET1requirement

(incl. AT1 shortfall)

Minimum CET1requirement

(incl. AT1 shortfall)

RAC Tier 2 trigger

Groupe BPCE’s RAC Tier 2 - Investment thesis

Solid buffer to RAC Tier 2 trigger Strong capital position to be comforted by 2024 targets

eq. to €37.7 bn

Consistent track record of maintaining high capital standards Not a single annual loss since the creation of Groupe BPCE

-

1 000

2 000

3 000

4 000

5 000

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Net Income - Group share (in €m)

15,3 % 15,8 % 15,7 % 16,0 % 15,6 %

3,8 % 3,7 % 3,2 % 2,1 % 1,9 %

19,2 % 19,6 % 18,8 % 18,1 % 17,5 %

Dec-17 Dec-18 Dec-19 Dec-20 Jun-21

Tier 2

AT1

CET1

CET1 ratio 15.6 %(Jun-21(1))

10.8 %(Total CET1 requirement, incl.

AT1 shortfall)

> 15.5 %

Tier 2 ratio 1.9 %(Jun-21(1))

2.4 %(proforma of CRD art. 104a)

≥ 2.5 %

TLAC /

Sub. MREL22.9 %(Jun-21(1))

21.5 %(planned SRB req. as of 2022)

> 23.5 %

Current position Requirement 2024 target

(1)

(2)

(1) Including full impact of the buyback of all Natixis minority shareholders | (2) Pillar 1 + Pillar 2 Requirement (i.e. excluding Combined Buffer Requirement)

386 393 422 431 440RWA (€bn)


Series no.: 2021-20[42] Series no.: 2021-20[46]

Issuer BPCE SA

Issue Date [●] [October] 2021

Issue Rating (M/S/F) [Baa3 / BBB / A-] (expected)

Size EUR [●]m (benchmark) EUR [●]m (benchmark)

Coupon[●], payable annually from the Issue Date to the First Reset Date ([●] [January] 20[27]). [●]%(1) step-down

upon the occurrence of a Rating Event. Non-discretionary, non-deferrable

[●], payable annually from the Issue Date to the First Reset Date ([●] [October] 20[31]). [●]%(1) step-down

upon the occurrence of a Rating Event. Non-discretionary, non-deferrable

Maturity [●] [January] 20[42] [●] [October] 20[46]

Issuer CallAt Prevailing Principal Amount, any day falling in the period commencing on (and including) [●] [October]

20[26], ending on and including the First Reset Date and every Interest Payment Date thereafter

At Prevailing Principal Amount, any day falling in the period commencing on (and including) [●] [July]

20[31], ending on and including the First Reset Date and every Interest Payment Date thereafter

Coupon Reset

Interest Rate reset on the First Reset Date and every 5 years thereafter to the prevailing 5-year Mid-Swap

+ [●]. Margin shall be reduced by [●]bps(1) upon the occurrence of a Rating Methodology Event prior to

the First Reset Date

Interest Rate reset on the First Reset Date and every 5 years thereafter to the prevailing 5-year Mid-Swap

+ [●]. Margin shall be reduced by [●]bps(1) upon the occurrence of a Rating Methodology Event prior to

the First Reset Date

Write DownIn the case of a Trigger Event, 25 per cent. of the Prevailing Principal Amount of the Notes will be permanently written down, unless the CET1 generated through Higher Trigger Loss Absorbing Instruments is

sufficient to remedy the Trigger Event. The Notes may only be subject to Write-Down once

Trigger EventA Trigger Event will be deemed to have occurred if the CET1 Capital Ratio of Groupe BPCE falls below 7.00 per cent, unless a Rating Methodology Event has occurred and has been notified by the Issuer to the

Noteholders prior to the First Reset Date in which case there shall be no Trigger Event

Replacement Capital

For so long as the Issuer solicits an issuer rating (or such similar nomenclature used by S&P from time to time) from S&P, the Issuer intends (without thereby assuming a legal obligation) that it will only redeem the

Notes pursuant to Optional Redemption or following purchase of the Notes to the extent that the aggregate principal amount of the Notes to be redeemed does not exceed such part of the net proceeds, received by

the Issuer and/or any member of the Banques Populaires or the Caisses d’Epargne during the 360-day period prior to the date of redemption of the Notes, from the sale or issuance by the Issuer and/or any member

of the Banques Populaires or the Caisses d’Epargne to third party purchasers (other than members of the Groupe BPCE), of securities that are assigned by S&P, following the time of sale or issuance of such

securities, a level of “equity content” (or such similar nomenclature used by S&P from time to time) that is equal to or greater than the “equity content” assigned to the Notes to be redeemed at the date of issue of the

Notes (but taking into account any changes in bank capital methodology or another relevant methodology or the interpretation thereof since the date of issue of the Notes). This limitation will no longer apply if a

Rating Methodology Event occurs

Rating Methodology

Event

A change in methodology of S&P Global Ratings Europe Limited (“S&P”) (or in the interpretation of such methodology) that was not reasonably foreseeable by the Issuer at the Issue Date as a result of which the

equity content assigned by S&P to the Notes is, in the reasonable opinion of the Issuer, materially reduced when compared to the equity content assigned by S&P to the Notes on the Issue Date or, if later, on the date

on which such equity content was first assigned to the Notes

Early Redemption EventSubject to the prior permission of the Relevant Regulator and/or Relevant Resolution Authority, the Issuer has the option to redeem all (but not some only) of the Notes at their Prevailing Nominal Amount upon the

occurrence of a Capital Event (full exclusion from Tier 2 Capital), a MREL/TLAC Disqualification Event (full or partial exclusion from MREL /TLAC) or a Tax Event (Withholding, Gross-Up or Tax Deduction)

Governing Law / Listing French Law / Euronext Paris

(1) Expected to be 25 basis points

Groupe BPCE’s RAC Tier 2 - Summary terms


Issue Date [●] [October] 2021 July 15th, 2021 June 3rd, 2014 September 19th, 2013

Issue Rating (M/S/F)(1) [Baa3 / BBB / A-] (expected) - / B+ / - - / BBB- / BBB - / BBB- / BBB-

Size EUR [●]m (benchmark) EUR 100m EUR 600m USD 1,000m

Coupon [●], payable annualy 5.25 %, payable annualy 4.00 %, payable annualy 8.125 %, payable semi-annualy

Maturity [●] October 15th, 2041 June 3rd, 2026 September 19th, 2033

Issuer CallAnytime from and including [●], ending on (and

including) [●] and every IPD thereafter

Anytime from and including July 15th, 2026, ending

on (and including) October 15th, 2026, and every

IPD thereafter

June 3rd, 2021, and every IPD thereafter September 19th, 2018, and every IPD thereafter

Coupon ResetOn First Reset Date and every 5 years thereafter

at 5yr MS+[●] bps

On First Reset Date and every 5 years thereafter

at 5yr MS+554.5 bps


at 5yr MS+285 bps


at 5yr MS+478.3 bps

Loss Absorption Permanent and Partial Write-down (25 %) Permanent and Partial Write-down (50 %) Permanent and Full Write-down Permanent and Full Write-down

Trigger Event Group CET1 < 7.00 % Group CET1 < 7.00 %Group CET1 < 7.00 % and/or

Issuer CET1 <7.00 %Group CET1 < 7.00 %

Replacement Capital

Not part of the T&Cs

The Issuer intends that it will only redeem the

Notes to the extent that the aggregate principal

amount to be redeemed does not exceed the net

proceeds received during the prior 360 days from

the sale of securities with an equal or greater

Equity Content

Not applicable if the Issuer is no longer rated by

S&P or following a Rating Event


The Issuer intends that it will only redeem the

Notes to the extent that the aggregate principal

amount to be redeemed does not exceed the net

proceeds received prior to the redemption from the

sale of securities with an equal or greater Equity

Content



The Issuer will only redeem the Notes to the

extent that the aggregate principal amount to be

redeemed does not exceed the net proceeds

received during the prior 360 days from the sale of

securities with an equal or greater Equity Content



The Issuer will only redeem the Notes to the

extent that the aggregate principal amount to be

redeemed does not exceed the net proceeds

received during the prior 360 days from the sale of

securities with an equal or greater Equity Content

Not applicable if Group Going Concern Capital

Ratio is above 11.9 % or following a Rating Event

Rating Methodology

Event

If material reduction of the S&P Equity Content

before the First Reset Date

Trigger Event is not applicable and [●]bps(2) step-

down


before the First Reset Date

Trigger Event is not applicable and 50 bps step-

down

If reduction in full of the S&P Equity Content


Trigger Event is not applicable and 150 bps step-

down

Early Redemption EventTax Event, Capital Event and MREL/TLAC

Disqualification EventTax Event and Capital Event Tax Event and Capital Event Tax Event, Capital Event and Rating Event

Governing Law / Listing French Law / Euronext Paris French Law / Euronext Paris English Law / Euronext Dublin French Law / Euronext Paris

Groupe BPCE’s RAC Tier 2 - Comparison of structures

Sources: Offering circulars and prospectuses

(1) At time of issuance | (2) Expected to be 25 basis points


Issue Date [●] [October] 2021 April 22nd, 2016 November 30th, 2015

Issue Rating (M/S/F)(1) [Baa3 / BBB / A-] (expected) Baa3 / BBB / A- Baa3 / BBB / A-

Size EUR [●]m (benchmark) EUR 700m EUR 750m

Coupon[●], payable annualy

Non-discretionary, non-deferrable

2.875 %, payable annualy


2.75 %, payable annualy


Maturity [●] April 22nd, 2026 November 30th, 2027

Issuer CallAnytime from and including [●], ending on (and including) [●] and

every IPD thereafterNot applicable November 30th, 2022

Coupon Reset On First Reset Date and every 5 years thereafter at 5yr MS+[●] bps Not applicable On First Reset Date at 5yr MS+237 bps

Loss Absorption Permanent and Partial Write-down (25 %) Not applicable Not applicable

Trigger Event Group CET1 < 7.00 % Not applicable Not applicable

Replacement Capital


The Issuer intends that it will only redeem the Notes to the extent

that the aggregate principal amount to be redeemed does not

exceed the net proceeds received during the prior 360 days from the

sale of securities with an equal or greater Equity Content

Not applicable if the Issuer is no longer rated by S&P or following a

Rating Event

Not applicable Not applicable

Rating Methodology

Event

If material reduction of the S&P Equity Content before the First

Reset Date

Trigger Event is not applicable and [●]bps(2) step-down

Not applicable Not applicable

Early Redemption Event Tax Event, Capital Event and MREL/TLAC Disqualification Event Tax Event and Capital Event Tax Event and Capital Event

Governing Law / Listing French Law / Euronext Paris French Law / Euronext Paris French Law / Euronext Paris

Sources: Offering circulars and prospectuses

(1) At time of issuance | (2) Expected to be 25 basis points

2021 Callable

RAC Tier 2

2016 EUR 750m

Bullet Tier 2

2015 EUR 750m

Callable Tier 2

Groupe BPCE’s RAC Tier 2 - Side-by-side with “vanilla” Tier 2

11

02A cooperative bank with a diversifiedbusiness model, leading positions, and strong commitments to society


BPCE SA,THE GROUP’S

CENTRAL INSTITUTION

• BPCE SA is responsible forStrategy

• Control and coordination

• Group’s MLT funding

• Internal solidarity mechanism

2 CORE BUSINESSES

• Retail Banking & Insurance

• Global Financial Services

A structure and governance ensuring a strong

commitment to the development of regional and

international expertise on a long-term basis and an

alignment of interests for all the Group’s stakeholders

A large cooperative banking group with a diversified business model,leading market position and clear business lines (1/2)


25%

75%

#2 banking group in France(2)

21.5% of market sharefor customer loans(2)

22% for depositsand savings(2)

#15 player worldwide

and

#2 player Euro zone(4)

(1) Excluding corporate center and exceptional items(2) Banque de France Q3-2020, Market shares: 22% in customer savings and 21.5% in customer credit (all non-financial customer categories).(3) Banque de France Q3-2020, 21.5% market shares on total non-financial customer loan outstandings (4) # : ranking in France, except when specified otherwise

#1 European player

in real estate

#4 worldwide in

renewable energies(4)

RETAIL BANKING & INSURANCE

Contribution to the H1-21Gross Operating Income(1)

GLOBAL FINANCIAL SERVICES

Regional banks

Business lines serving retail

banking activities

Insurance Payments

Financial Services

& Expertise

Asset & Wealth

Management

Corporate &

Investment Banking

A large cooperative banking group with a diversified business model,leading market position and clear business lines (2/2)One of the 30 Global Systemically Important Banks (G-SIBs)


14 Banques Populaires

#1 for SMEs(2)

#2 for small businesses(2)

H1-21 results(1)

Deposits & Savings

NBI €3.4bn

CIR(3) 61.6%

PbT(3) €1.0bn

June 30, 2021

Loan outstandings

€341bn

+8.9%

€267bn

+9.6%

15 Caisses d’Épargne

#2 for individuals(2)

#1 for local authorities(2)

H1-21 results(1)

Deposits & Savings

NBI €3.6bn

CIR(3) 62.3%

PbT(3) €1.1bn

Loan outstandings

€489bn

+4.7%

€325bn

+6.5%

June 30, 2021

June 30, 2021

June 30, 2021

Retail Banking and Insurance: two large networks of regional cooperative banks with strong brands and a leading position in the French retail market (1/4)

(1) Excluding exceptional items (2) # ranking : BPCE 2024 strategic plan (3) After IFRIC 21 restatement

27 million customers served through our branches and digital tools allowing the two large networks to increase cross-selling

and deliver solid commercial and financial performance


6.6 million active Sécur-Pass customers carrying out day-to-day operations in a totally secure environment:

+2.6m since the beginning of the year

+90m credit transfers via mobile phone since the beginning of the year: +32% vs. H1-20

+5.2m beneficiaries added: +47% vs. H1-20

+36% card transactions blocked, confirmed online vs. H1-20

H1-21 key figures

12 million customers active on mobile apps or

websites at end-June 2021

including 8.2m active on mobile devices

(+14% vs. Dec. 20)

≈ 80% of principal active customers using digital

channels

Net Promoter Score

+41

Digital NPS

4.7/5

App Store

DATA – AUTOMATION OF THE COLLECTION AND VERIFICATION OF CUSTOMER DOCUMENTS

+385K support documents transmitted online since the beginning of the year vs. 400K in 2020

+122K tax assessment notices automatically checked in H1-21 vs. 100K in full-year 2020

DIGITAL – DEVELOPMENT OF VIDEOCONFERENCING SOLUTIONS WITH CUSTOMERS

37,000 advisers equipped to hold meeting with customers via videoconference: +8,000 vs. Dec. 20

Data resources and digital services serving the needs of our customer advisers

4.3/5

Google Play

'Self-care’: fluid and secure operations largely adopted for our customers

Digital subscription pathways increasingly used by our customers

The addition of new functionalities and expansion to reach new customer segments generated more traffic on these pathways

For example, consumer loans initiated via digital pathways in 2021 now represent 12% of new loan production for the BP and 21% for the CE

#1 among universal banks

Launch of Oney+: a solution including an app, an account and a Visa card that makes split payment universal and gives consumers the power to manage their spending

Retail Banking and Insurance: Increased use of data resources and digital services to serve the needs of our customers and their advisers (2/4)


H1-20 H1-21

Financial Solutions and Expertise

A full range of expertise which serves the retail activities of the networks and Natixis, and the European ambitions for the payment activities

A full-fledged Bancassurer: a full range of products distributed through the two retail networks

H1-21 results(2)

NBI €492m

P&C combined ratio

93.2%

CIR(3) 51.7%

PbT(2) €240m

ʘ Life Insurance

ʘ Personal protection

ʘ Property & Casualty

Insurance

H1-21 results(2)

NBI €597m

CIR(3) 51.4%

PbT(3) €229m

Breakdown of revenues in Q1-21

€597m

Premiums(1)

+8%

+50%5.3

7.9

P&C Insurance

Life andPersonal protection

Scope: Insurance division of Natixis

+58%

22%

25%

8%

23%

12%

7% 3%

Consumer credit

Sureties & financial guarantees

Retail securities services

Leasing

Factoring

Socfim

Other

72.776,6 78.1

1.92.1 1.4

AuM at12/31/2020

Net inflows €

Net inflowsUL

Reevaluation& others

AuM at06/30/2021

+7% YTD

Life insurance AuMs(1)

Retail Banking and Insurance: the cornerstone of our ambitions to build market share and offer fee-driven, value-added products through our retail networks (3/4)

(1) Excluding the reinsurance agreement with CNP (2) Excluding exceptional items (3) After IFRIC 21 restatement


to develop activities in France in a type of business where it is not currently present

to develop payment solutions

to benefit immediately from access to an international development platform in line with the Group's strategic priorities

An opportunity for Groupe BPCE:

Relevant offline and online payment solutions

ʘ Focus on end-to-end digital payment services

ʘ Invest in technology and solutions niche-oriented Payment

A forerunner in rolling-out Instant Payment

A key player in prepaid and managed digital solutions

Payments

Oney Bank

H1-21 results(1)

NBI €235m

CIR(2) 86.4%

PbT(2) €25m

H1-21 results(1)(2)

NBI €205m

CIR(2) 69.1%

PbT(2) €23m

Retail Banking and Insurance: Payments and Oney Bank (4/4)

(1) Excluding exceptional items (see annex) (2) After IFRIC 21 restatement


(3)

More than 20 specialized investment managers globally committed to a highly active, conviction-led investment style (ESG, multi-asset, innovative alternatives, etc..)

Q2-21 Fees(4)

24 bps+1.2bps YoY

Assets under management(1) (in €bn)

Affiliates plugged into the international distribution platform

with a footprint in over 20 countries

Americas Europe and APAC

EUROPE

H1-21 results(2)

NBI(3) €1,625m

CIR(3) 74.6%

PbT(3) €410m

1,153

1,183

Americas Europe and APAC

EUROPE

Global Financial Services/ Asset and Wealth Management: global ambitions for our multi-affiliate model focused on active asset management and insurance Funds

(1) Europe including Dynamic Solutions and Vega IM, excluding H20 AM (€17bn AuM as at 06/30/2021); US including WCM IM (2) Excluding exceptional items (see annex)

(3) After IFRIC 21 restatement


H1-21 results(2)

NBI €1,859m

CIR(3) 61.4%

PbT(3)€614m

ʘ Selected international growth

ʘ Strengthened O2D model

ʘ Increase the footprint in the insurers and financial sponsors segments

Becoming the “go-to bank” in selected sectorsin Structured Financingʘ Energy & Natural Resources

ʘ Aviation

ʘ Infrastructure

ʘ Real Estate and Hospitality

Increase client intimacy with corporates, leveraging on Investment Banking expertiseʘ DCM

ʘ ECM

ʘ Acquisition & Strategic Finance

ʘ Strategic Equity Transactions

ʘ M&A

Continued focus on Global Marketsʘ Fixed Income solutions

ʘ Equity Derivatives

NBI (2) Breakdown

Net revenues(1) (in €m)

1 25 43 7 (7)

277 213250 330 287

(175)

33

127167

108

321 321

343

336

39399 93

12696 135

Q2-20 Q3-20 Q4-20 Q1-21 Q2-21CVA/DVA desk FIC-T Equity Global finance Investment banking

and M&A

(55)0

642 617

(208)

275

619

728202

231

H1-20 H1-21

522 661

845 929 9231,255

1,852

Global Financial Services/ Corporate and Investment Banking: client-centric and solutions-driven, Natixis CIB provides a range of expertise to meet the specific needs of our customers worldwide

(1) Total excluding CVA/DVA desk and other; figures at current FX (2) Excluding exceptional items (3) After IFRIC21 restatement


Alignment on a "Net Zero" trajectory: the Group has joined the "Net Zero Banking Alliance" coordinated by the United Nations Environment Programme Finance Initiative (UNEP FI)

Mobilization against climate change: the Group has joined the Ambition 4 Climate platform that presents 114 projects, all sharing the same goal of climate neutrality

Fight against climate change confirmed as a key priority for all business lines in new strategic plan BPCE 2024; the Group just joined the Net Zero Banking Alliance

Groupe BPCE's commitments to society

Strong commitments

Actions to promote our customers' energy transition

Improvement in the Sustainalytics rating

Financing of renewable energy projects

Launch by the Caisses d’Epargne, in collaboration with Natixis and BPCE Energéco, of the 1st debt fund dedicated to financing renewable energy projects, with €1.5bn in resources

9 new projects representing 1,262 MW of installed capacity and €606 million in financing arranged by Natixis in Q2-21

Supporting the energy renovation

Partnership with Cozynergy (acquired by a group of regional banks of Groupe BPCE), a start-up specializing in energy renovation, which decided to team up with the Group in order to speed up the rollout of its digital platform and services

Promoting new transition solutions

Signature of a partnership with Energy Observer aimed at developing technical solutions around hydrogen to enable industrial decarbonization and the development of renewable energies by offering storage solutions

Falling from 22.3 (medium risk) to 17.9 (low risk) thanks to better management of the ESG risks by the Group

21

03Delivering solid performance based on synergies and moderate risk appetite


RevenuesGroup revenues: €12.5bn, +16.0% vs. H1-20 and +6.4% vs. H1-19

Retail Banking & Insurance: revenues +7.6% YoY; strong activity in retail banking, Insurance and FSE

Global Financial Services: revenues up 36.7%(1) YoY

Operating

expenses

Operating expenses: +5.0%(2) YoY, in line with dynamic activity

Strong positive jaws effect; cost/income ratio(3) down 7.0pp to 67.0% in H1-21

Cost of riskDown 44.6% in H1-21 YoY at €822m (22 bps), with stable S1/S2 provisions in Q2-21 illustrating the continued prudent provisioning

Underlying net income up to €2.25bn in H1-21, x2.6 vs. H1-20(4)

Reported net income at €1.9bn in H1-21, x5.9 vs. H1-20Net income

Capital CET1 ratio: 15.6%(5), including full impact of the buyback of all Natixis minority shareholders

Well above requirements, +425 bps over MDA trigger threshold

Strategic

developmentsSuccessful public tender offer on Natixis shares; squeeze-out on July 21st, 2021

Groupe BPCE released its new strategic plan BPCE 2024 on July 8th, 2021

RatingsRecent rating decisions: Moody’s has affirmed the A1 long term senior preferred rating with a stable outlook; R&I has affirmed the A+ long term senior preferred rating with a stable outlook

Groupe BPCE: strong recovery in H1-21 driven by commercial momentum and significant decrease in cost of risk

Underlying figures, unless otherwise indicated

(1) At constant Fx (2) Excluding exceptional items and Single Resolution Fund (3) After IFRIC 21 restatement (4) Net income Group share excluding Coface net contribution

and after IFRIC 21 restatement (5) Estimated ratio at June 30,2021


Groupe BPCE has engaged a major step in its transformation and the development of its businesses

Strategic development

All conditions are fulfilled for Groupe BPCE to catch opportunities, have a positive

impact on major societal issues and engage a new expansion of its footprint

ʘOn February 9th, 2021, Groupe BPCE announced the public tender offer on the 29% Natixis shares the Group didn’t already own, to engage the simplification of its organization

ʘThis simplified organisation will increase the strategic flexibility of the businesses and allow acceleration in their development for the benefit of their customers and their performance

ʘAnd also improve capital flows within the Group, in an increasingly challenging regulatory environment

ʘThe tender offer was successful, and the squeeze-out took place on July 21st, 2021

ʘOn July 8th, 2021, Groupe BPCE released its new strategic plan BPCE 2024, notably based on simplification, unification and development

ʘNext step: finalization of the study(1) on the acquisition by BPCE of the Insurance and Payments activities of Natixis to better serve our retail banking networks and their customers

(1) Any project stemming from this study will be submitted, if need be, to the consultation of the relevant works councils


H1-21 net income(1) up to €2.25bn, driven by solid GOI growth and lower cost of risk

Q2-21 & H1-21 results - Underlying figures

Underlying figures€m

Q2-21 % Change vs. Q2-20

% Change vs. Q2-19

H1-21 % Change vs. H1-20

% Change vs. H1-19

Net banking income 6,334 22.0% 6.6% 12,465 16.0% 6.4%

Operating expenses (4,080) 8.3% 2.2% (8,662) 5.0% 2.9%

o/w expenses excluding Single Resolution Fund (4,090) 8.5% 2.4% (8,241) 5.0% 2.5%

Gross operating income 2,254 58.3% 15.8% 3,803 52.6% 15.5%

Cost of risk (332) (66.1)% 2.0% (822) (44.6)% 34.8%

Income before tax 2,012 x3.9 18.4% 3,140 x2.7 11.2%

Income tax (525) x2.5 (5.6)% (937) x1.9 (4.9)%

Non-controlling interests (114) ns (31.2)% (207) x5.0 (17.1)%

Net income – Group share excl. Coface net

contribution1,373 x4.7 40.5% 1,996 x3.2 25.7%


contribution after IFRIC 21 restatement1,241 x6.6 42.0% 2,250 x2.6 25.3%

Cost/income ratio 66.9% (8.1)pp (2.5)pp 67.0% (7.0)pp (2.6)pp

(1) Group share

25 INVESTOR PRESENTATION(1) Cost of risk expressed in annualized basis points on gross customer outstandings at the beginning of the period or in € amounts – Excluding exceptional items (2) In Q1-

20, excluding the methodological effect, the cost of risk would have been 29 bps for RB&I (positive impact of €115m) and 35 bps for Groupe BPCE (positive impact of €120m)

1139

930

6 925

8

112

124

112 65

478

118

27

5

2613

36

5 -115

2

17

20

10

13

2019

18

19

84455

229591

92 -14

53878

420

526

356

332

398345

946

743

Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 H1-20 H1-21

Continued prudent provisioning: cost of risk at €822m in H1-21

Cost of risk(1)

H1-21 results - Cost of risk/Asset quality (1/2)

Groupe BPCE

Groupe BPCE

CIB

(in bps)

(in €m)

Cost of risk

€822m-44.6% vs. H1-20

NPL ratio

2.6%+0.1 pp vs. Dec. 20

981

585923

5

2512 31

5-1

152

24

29

19

18

2118

27

19

17

55

32

49

144163

18

45

23

49

S3S1/S2

25

12195

53

26

490332

1,484

822

42

22

1735

3421

504

29

123

21

RB&I(2)


31%

8%

27%4%

7%

4%

17%

1%

1%

Individual customers

Small businesses

Corporate customers

Financial institutions

Local governments

Central administrations

Central banks and other sovereign exposures

Securitization

Equities

Breakdown of Group gross exposure per

counterparty at June 30, 2021(1)

Diversified portfolio

Corporate customers

o/w 69% in France

Residential

mortgages 25%

Exposure to sectors considered to be sensitive

Corporate and small business Group exposures(2)

Gross exposure

(€bn)

% Total Group

gross exposure

% State-

guaranteed loans

% NPL

% Investment

Grade

Wholesale and retail trade

(non-food) 16.4 1.2% 24.4% 6.0% 44.9%

Tourism – Hotel – Catering 15.6 1.1% 21.2% 9.2% 33.3%

Automobile 10.2 0.7% 22.6% 4.1% 57.0%

Consumer goods

(excl. cosmetics and personal

care)6.2 0.4% 7.5% 3.0% 79.7%

Real estate Professionals (excl.

residential exposure)6.9 0.5% 0.3% 4.6% 54.6%

Natixis scope

Oil & Gas(4): €9.6bn net EAD with >75% of exposure with no/limited sensitivity to oil prices and >60% Investment Grade

o/w independent producers & service companies: €2.1bn net EAD (€0.7bn US and €1.4bn EMEA/Other)

Aviation: €3.5bn net EAD

Well diversified portfolio across ≈30 countries (no country accounting for >25% of net EAD),

approx. 80% exposures secured and majority investment grade

€1,385bn

H1-21 results - Cost of risk/Asset quality (2/2)Asset quality: limited exposures to sensitive sectors

(1) Estimate (2) Management data at end of June 2021 (3) Energy & Natural Resources + Real Assets perimeters

27

04Operating with robust capital ratios, strong loss-absorbing capacityand high credit ratings


Requirements

June 30, 2021

Actual levelsas at

June 30, 2021(1)

CET1 ratio 9.32%(2)

(ECB)

15.6%

Total capital ratio 13.26%(2)

(ECB)

17.5%

TLAC ratio 19.51%(FSB)

22.9%(3)

Subordinated

MREL ratio19.5%

(SRB)

22.9%(3)

Total MREL ratio 25.0%(SRB)

29.5%CET1 capital equal to €68.4bn(1) as of June 30, 2021

Total loss-absorbing capacity stood at €100.8bn(1) as of June 30, 2021

Leverage ratio equal to 5.7%(1,4) as of June 30, 2021

CET1 ratio as of June 30 , 2021 including full impact of the buyback of all Natixis minority shareholders, above 2021 year-end guidance

+32bps +4bps

+5bps(19)bps

(70)bps

CET1 ratioat March 31, 2021

Retainedearnings

Change inrisk-weighted

assets

Issuanceand distributionof cooperative

shares

Full impactof buyback

of all Natixisminority

shareholders

Otherchanges

CET1 ratioat June 30,

2021

16.1%

15.6%

Organic capital creation = 13bps

Capital and Loss-absorbing Capacity

Capital adequacy, Total loss-absorbing capacity – see note on methodology (1) Estimate at June 30, 2021 (2) Excluding “Pillar 2 Guidance” (3) As part of its annual

resolvability assessment, Groupe BPCE has chosen to waive the possibility offered by Article 72b(3) of the Capital Requirements Regulation to use senior preferred debt for

compliance with its TLAC/subordinated MREL requirements in 2021 (4) The adjusted leverage ratio requirement is set at 3.2%

Change in the CET1 Ratio (bps)


Change over a 6-month period (in €bn)

68% 68%

19% 20%

13% 12%

Dec. 31, 2020 June 30, 2021

Other

Global Financial Services

Retail Banking &Insurance

440431

88% 88%

3% 3%9% 9%

Dec. 31, 2020 June 30, 2021

Operational Risk

Market Risk

Credit Risk

431 440

431440

+6 +4 -2

Risk-Weighed AssetsDec. 31, 2020

Retail Banking & Insurance

Global and Financial Services

Other Risk-Weighed Assets June 30, 2021

Breakdown per business line (in €bn) Breakdown per type of risk(1) (in €bn)

Risk-Weighted Assets

(1) The CVA is included under Credit risk. It accounted for less than 1% of RWA at June 30, 2021, and December 31, 2020


Reconciliation of shareholders’ equity to total capital

In billions of euros June 30, 2021 Dec. 31, 2020

Equity attribuable to equity holders of the parent 76.3 72.7

Cancelation of hybrid securities(1) in equity

attribuable to equity holders of the parent- -

Non-controlling interests(2) 0.2 4.4

Goodwill and intangibles (4.9) (4.8)

EL/Prov. Difference (0.3) (0.4)

Deduction of irrevocable payment commitments - -

Other regulatory adjustments (2.9) (2.9)

Common Equity Tier-1 capital 68.4 69.0

Additional Tier-1 capital - -

Tier-1 capital 68.4 69.0

Tier-2 capital 10.1 10.8

T2 regulatory adjustments (1.5) (1.6)

Total capital 77.0 78.2

16.0 15.6

2.1 1.9

Dec. 31, 2020 June 30, 2021

T2 Contribution

CET1 ratio

42.1 40.9

26.9 27.5

9.3 8.6

Dec. 31, 2020 June 30, 2021

Tier-2 capital

cooperative shares

Reserves

Regulatory capital (in €bn)

Total capital ratios (as a %)

78.2 77.0

18.1% 17.5%

CET169.0

CET168.4

(3)

Own funds

(1) As at 12/31/2020, BPCE deeply subordinated notes booked to equity attributable to equity holders of the parent (3) Non-controlling interests (prudential definition); as at

06/30/2021 account is only taken of the part from Oney after regulatory clipping and as at 12/31/2020 account is only taken of the part from Natixis, excluding super-

subordinated notes and Oney, after regulatory clipping (4) Reserves net of prudential restatements


Financial structure: MDA trigger threshold

Significant buffer over MDA trigger threshold: 425 bps (- 63 bps since end 2020)

12/31/2020Pillar I

requirement

Pillar II

requirement

Capital

conservation

buffer

G-SIB

buffer

Countercyclical

buffer Total

SREP CET 1

requirement4.50 % 1.31 % 2.50 % 1.00 % 0.01 % 9.32 %

SREP Tier 1

requirement6.00 % 1.31 % 2.50 % 1.00 % 0.01 % 10.82 %

SREP total capital

requirement8.00 % 1.75 % 2.50 % 1.00 % 0.01 % 13.26 %

12/31/2020 Actual level

SREP

requirement

Distance to SREP

requirement (bps)

CET 1 16.0 % 9.32 % 667

Tier 1 16.0 % 10.82 % 517

Total

capital18.1 % 13.26 % 488

Distance to MDA trigger threshold = lowest of

the 3 distances to SREP488

MDA trigger threshold 11.11 %

06/30/2021 Actual level

SREP

requirement

Distance to SREP

requirement (bps)

CET 1 15.6 % 9.32 % 625

Tier 1 15.6 % 10.82 % 475

Total

capital17.5 % 13.26 % 425

Distance to MDA trigger threshold = lowest of

the 3 distances to SREP425

MDA trigger threshold 11.31 %

Dec. 31, 2020 June 30, 2021

Buffer: 488 bps

Buffer: 425 bps

16.0 %

MDA trigger

threshold:11.11%

15.6%

MDA trigger

threshold:11.31%

06/30/2021Pillar I

requirement

Pillar II

requirement

Capital

conservation

buffer

G-SIB

buffer

Countercyclical

buffer Total

SREP CET 1

requirement4.50 % 1.31 % 2.50 % 1.00 % 0.01 % 9.32 %

SREP Tier 1

requirement6.00 % 1.31 % 2.50 % 1.00 % 0.01 % 10.82 %

SREP total

capital

requirement8.00 % 1.75 % 2.50 % 1.00 % 0.01 % 13.26 %



15.6%

4.8%

2.6% Senior Non-Preferred

Tier 2

Additional Tier 1

CET1 15.6%

4.8%

2.6%

6.5%

Eligible Senior Preferred debt

Senior Non-Preferred

Tier 2

Additional Tier 1

CET1

TLAC(1,2) Ratio (as a % of risk-weighted assets)

June 30, 2021

MREL(1,2) Ratio (as a % of risk-weighted assets)

June 30, 2021

19.5%

22.9%

25.0%

29.5%

TLAC requirement

June 30, 2021(3)

Total MREL requirement

June 30, 2021(4)


(1) Estimate at June 30, 2021 (2) As part of its annual resolvability assessment, Groupe BPCE has chosen to waive the possibility offered by Article 72b(3) of the Capital

Requirements Regulation to use senior preferred debt for compliance with its TLAC/subordinated MREL requirements in 2021 (3) Based on FSB TLAC term sheet dated Nov.

9, 2015 (4) Based on ACPR’s notification of March 22, 2021


As of June 24, 2021

Senior preferred long-term debt A1 A A+ A+

Outlook Stable Stable Negative Stable

Senior non-preferred Baa1 BBB+ A A

Tier 2 Baa2 BBB A-

Senior short-term debt P-1 A-1 F1

Groupe BPCE’s ratings are among the best in the global banking industry, based on a robust capital position, well-diversified business model and efficient strategy execution

34

05Global and innovative issuer, committed to society


High liquidity levelsʘ Average monthly LCRs in Q2-21: 160%

ʘ Liquidity reserves: €297bn at end-June 2021

ʘ Coverage ratio of short-term debt obligations: 241% at end-June 2021

43%

55%

3%

Unsecured bondissues

Covered bond issues

ABS

30%

5%4%

1%

61%

USD

GBP

AUD

JPY

Others

EUR

Foreigncurrencies39%

Structure of MLT wholesale funding(3)

raised in 2021 YTD(2)

Diversification of the investor base/unsecured MLT wholesale funding raised in 2021 YTD(2)TLTRO III

ʘ TLTRO III outstanding amount: €97.2bn at end-June 2021

ʘ Repayment at maturity fully integrated in our MLT funding plans

MLT wholesale funding: revised 2021 plan and execution YTD(2)

ʘ Target: €22bn(1) / Raised YTD(1,2): €14.9bn or ≈68% Tier 2 and/or Senior Non-Preferred

Target: €5.5bn / Raised YTD(2): €2.1bn of SNP Senior Preferred

Target: €6bn / Raised YTD(1,2): €4.4bn Covered Bonds

Target: €10.5bn / Raised YTD(2): €8.4bn

ʘ Asset-Backed SecuritiesTarget: €1.5bn / Raised YTD(2): €0.4bn

Groupe BPCE is a global issuer, operating in EMEA, the US and the Asia-Pacific region in several currencies and types of debt instruments≈68% of the 2021 MLT wholesale funding plan(1) raised(2)

(1) Excluding structured private placements and asset-backed securities and instead of an initial plan of €22bn to €25bn (2) As at 9 July 2021 (3) Excluding structured private

placements


20152019

2020

GREEN BONDS:

€300m

GREEN COVERED

BONDS: €1.25bn Methodology Note:

Green BuildingsGREEN BONDS:

€500m Methodology Note:

Renewable Energies

July 2020

Best green/ISR

deal of the year

September11,2020

Euro Bond

of the year

TRANSITION BONDS:

€100m

2021

GREEN COVERED

BONDS: €1.5bn Methodology Note:

Green Buildings

20172018 -2019

2020

SOCIAL BONDS:

€512m equiv.Human Development

SOCIAL BONDS:

€1.02bn equiv. Human Development

SOCIAL BONDS:

€1.68bn equiv

. Methodology Note:Local Economic Development

September 7, 2017

Deal of the Yearfor Healthcare

Bonds

Best

Sustainability

Bond in

2017

March 25, 2018

Most innovative

Investment Bank

for climate change

& sustainability

SOCIAL BONDS: €250m equiv. Methodology Note:

Local Economic Development/

Covid 19

GREEN €3.7bn AuM

Renewable Energies

Green Buildings

SOCIAL3.5G€ AuM

Human Development: Education, Healthcare and Social Services

Local Economic Development

Green and Transition Bond Issues Social Bond issues

Renewable Energies

Innovation is at the heart of Groupe BPCE’s funding policy

≈€7.1bn BPCE SRI outstanding as of end-June 2021


Total liquidity reserves of Groupe BPCE(1) (in €bn) Short-term funding and MLT debt maturing in the short term (in €bn)

246% 234% 241%

Coverage ratio of short-term funding + MLT debtmaturing in the short-term by liquidity reserves

106 113102

1923

21

Dec. 31,2020

March 31,2021

June 30,2021

MLT

ST105 91 95

5651 57

146 176 145

Cash placed withcentral banks

LCR securities

Assets eligible forcentral bankfunding

318

June 30,

2021

(2)

Dec.31,

2020

March 31,

2021

307 297

Liquidity reserves and short-term funding

(1) Excluding MMF US Natixis deposits (2) Coverage ratio = Total liquidity reserves of Groupe BPCE / [Short-term funding +MLT debt maturing in the short term]

38

ADDITIONAL INFORMATION


Strong jaws effect both in Q2-21 and H1-21H1-21 net income(1) at €1.9bn

Q2-21 & H1-21 results – Restated figures

Restated figures€m

Q2-21 Q2-20 % Change H1-21 H1-20 % Change

Net banking income 6,337 5,183 22.3% 12,455 10,726 16.1%

Operating expenses (4,151) (3,837) 8.2% (8,806) (8,383) 5.0%

o/w expenses excluding Single Resolution Fund (4,161) (3,842) 8.3% (8,384) (7,983) 5.0%

Gross operating income 2,187 1,346 62.5% 3,649 2,343 55.8%

Cost of risk (332) (981) (66.2)% (822) (1,484) (44.6)%

Income before tax 1,924 282 x6.8 2,965 829 x3.6

Income tax (509) (129) x3.9 (921) (385) x2.4

Non-controlling interests (108) (3) ns (194) (30) ns


contribution1,308 150 x8.7 1,851 415 x4.5

Coface net contribution (19) 5 (102)

Reported net income – Group share 1,308 131 x10.0 1,856 312 x5.9

Restated figures: following the announced sale of a 29.5% stake in Coface on February 25, 2020 and for financial communication purposes, all impacts related to Coface are shown in a separate

P&L line ‘Coface net contribution”. From an accounting standpoint the 2020 Coface capital loss is classified in “Gain or loss on other assets” and the 2020 Coface residual stake impairment in

“Share in net income of associates”. (1) Group share


GROUPE BPCE

GROUPE BPCE

In millions of euros H1-21

Reported

Coface H1-21

Restated

H1-20

reported

Coface H1-20

restated

Net banking income 12,455 12,455 10,726 10,726

Operating expenses (8,806) (8,806) (8,383) (8,383)

Gross operating income 3,649 3,649 2,343 2,343

Cost of risk (822) (822) (1,484) (1,484)

Share in net income of associates 156 (7) 149 68 33 101

Gains or losses on other assets (11) (11) (242) 112 (130)

Income before tax 2,972 (7) 2,965 685 145 829

Income tax (921) (921) (385) (385)

Non-controlling interests (196) 2 (194) 13 (43) (30)

Net income – excl. Coface net contribution 1,856 (5) 1,851 312 102 415

Coface – Net contribution 5 (102)

Net income – Group share 1,856 1,856 312 312

Reconciliation of restated data to reported data


In millions of euros

Net

banking

income

Operating

expenses

Income

before tax

Net

income

- Group

share

excluding

Coface

Restated H1-21 results 12,455 (8,806) 2,965 1,851

Revaluation of assets associated with deeply subordinated notes

denominated in foreign currenciesCorporate center (2) (2) (8)

Transformation and reorganization costsBusiness lines/

Corporate center11 (143) (154) (128)

Legal provision (19) (19) (10)

H1-21 results

excluding exceptional items & Coface net contribution12,465 8,662 3,140 1,996

H1-21 results: reconciliation of alternative performance measures to restated data



Net

banking

income

Operating

expenses

Associates Gains or

losses on

other

assets

Income

before tax

Net

income

- Group

share

excluding

Coface

Restated H1-20 results 10,726 (8,383) 101 (130) 829 415

Revaluation of assets associated with deeply subordinated notes

denominated in foreign currenciesCorporate center 0 0 0

Transformation and reorganization costsBusiness lines/

Corporate center(133) (141) (274) (175)

Impact of Lebanon default on ADIR insurance Insurance (14) (14) (10)

Contribution to the insurance guarantee fund Insurance (16) (16) (8)

Disposals and impairmentBusiness lines/

Corporate center(10) (10) (10)

H1-20 results

excluding exceptional items & Coface net contribution10,742 (8,250) 125 11 1,143 618

H1-21 results: reconciliation of alternative performance measures to restated data


Retail banking and Insurance

Q1-20 Q2-20 Q3-20 Q4-20

In millions of eurosNet

banking

income

Operating

expenses

Income

before taxNet income

Net

banking

income

Operating

expenses

Income


Net

banking

income

Operating

expenses

Income


Net

banking

income

Operating

expenses

Income


Reported figures 4,140 (2,803) 1,032 685 4,074 (2,585) 844 537 4,162 (2,629) 1,211 818 4,081 (2,796) 527 289

Analytical adjustments 1 2 2 1 1 1 2 1 1 1 2 1 1 1 2 1

Central institution’s expenses (65) 7 (58) (39) (65) 7 (58) (39) (65) 7 (58) (39) 194 (21) 173 118

Pro forma figures 4,076 (2,794) 977 646 4,010 (2,577) 789 499 4,098 (2,620) 1,156 780 4,276 (2,816) 702 407

Global financial services

Q1-20 Q2-20 Q3-20 Q4-20


banking

income

Operating

expenses

Income


Net

banking

income

Operating

expenses

Income


Net

banking

income

Operating

expenses

Income


Net

banking

income

Operating

expenses

Income


Restated figures 1,462 (1,136) 134 41 1,223 (1,014) (71) (46) 1,447 (1,085) 135 54 1,896 (1,251) 465 225

Analytical adjustments (8) (3) (11) (6) (8) (3) (11) (6) (8) (3) (11) (6) (8) (3) (11) (6)

Pro forma figures 1,454 (1,140) 124 36 1,215 (1,017) (82) (51) 1,439 (1,088) 124 49 1,888 (1,254) (454) 219

Reconciliation of 2020 data to pro forma data (1/2)


Corporate center Q1-20 Q2-20 Q3-20 Q4-20


banking

income

Operating

expenses

Income


Net

banking

income

Operating

expenses

Income


Net

banking

income

Operating

expenses

Income


Net

banking

income

Operating

expenses

Income


Restated figures (58) (606) (619) (461) (115) (238) (491) (341) (98) (191) (263) (169) 326 (309) 77 114

Analytical adjustments 7 2 9 4 7 1 9 5 7 1 9 5 7 1 9 4

Central institution’s expenses 65 (7) 58 39 65 (7) 58 39 65 (7) 58 39 (194) 21 (173) (118)

Pro forma figures –

excl. Coface net contribution13 (612) (553) (418) (42) (244) (425) (297) (26) (197) (197) (125) 139 (286) (88) 1

Reconciliation of 2020 data to pro forma data (2/2)


H1-21


RETAIL BANKING

& INSURANCE

GLOBAL

FINANCIAL

SERVICES

CORPORATE

CENTER

GROUPE BPCE

Impact of exceptional items

(excl. Coface)(33) (43) (99) (175)

Impact of IFRIC 21 (58) (19) (231) (308)

Total impact on Income before

tax(91) (62) (330) (483)


BANQUE

POPULAIRE

NETWORK

CAISSE

D'EPARGNE

NETWORK

SEF INSURANCE PAYMENTS OTHER

NETWORKS

RETAIL BANKING

& INSURANCE

Impact of exceptional items (15) (13) (4) 0 (1) 0 (33)

Impact of IFRIC 21 (21) (25) (3) (8) 0 (1) (58)


tax(36) (38) (7) (8) (1) (1) (91)


AWM CIB GLOBAL

FINANCIAL

SERVICE

Impact of exceptional items

(excl. Coface)(17) (26) (43)

Impact of IFRIC 21 (3) (17) (19)


tax(20) (43) (62)

Exceptional items and IFRIC 21 effects per business line


RETAIL BANKING & INSURANCE

GLOBAL FINANCIAL SERVICES

CORPORATE CENTER

GROUPE BPCE

In millions of euros Q2-21 Q2-20pf Q2-21 Q2-20pf Q2-21 Q2-20pf Q2-21 Q2-20pf %

Net banking income 4,420 4,010 1,766 1,215 151 (42) 6,337 5,183 22.3%

Operating expenses (2,687) (2,577) (1,208) (1,017) (255) (244) (4,151) (3,837) 8.2%

Gross operating income 1,733 1,433 558 199 (104) (286) 2,187 1,346 62.5%

Cost of risk (283) (651) (27) (286) (21) (44) (332) (981) (66.2)%

Income before tax 1,466 789 534 (82) (75) (425) 1,924 282 x6.8

.8Income tax (392) (262) (138) 22 21 111 (509) (129) x3.9

Non-controlling interests (31) (28) (96) 9 18 16 (108) (3) ns

Net income – excl.

Coface1,043 499 300 (51) (35) (297) 1,308 150 x8.7

Coface – Net contribution (19) (19) ns

Net income –

Group share1,043 499 300 (51) (35) (317) 1,308 131 x10.0

Groupe BPCE: restated quarterly income statement per business line


GROUPE BPCE

In millions of euros Q1-20pf Q2-20pf Q3-20pf Q4-20pf Q1-21 Q2-21

Net banking income 5,543 5,183 5,511 6,303 6,117 6,337

Operating expenses (4,546) (3,837) (3,905) (4,356) (4,655) (4,151)

Gross operating income 997 1,346 1,606 1,947 1,462 2,187

Cost of risk (504) (981) (589) (924) (490) (332)

Income before tax 548 282 1,083 1,069 1,041 1,924

Net income – excl. Coface 265 150 703 628 543 1,308

Coface – Net contribution (83) (19) (29) (5) 5

Net income – Group share181 131 674 624 548 1,308

Groupe BPCE: restated quarterly series


COST OF RISK(1) (in bps)

BP network

CIB

Groupe BPCE

CE network

5

3312

30

3 215

16

6

17

22 18

5

2214

41

8-2

11

15

7

5

1210

1139

930

6 9

112

124

112 65

478

5

2512

31

5 -1

24

29

19

18

21 18

Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21

RB&I 526

1336

5-1

17

20

10

13

2019

55

29

123

163

21

45

16

37

20

49

32

23

21

18

49

49

45

48

25

19

25

12195

53

26

S3S1/S2

17

17

18

8

20

Cost of risk by business lines

(1) Cost of risk expressed in annualized basis points on gross customer outstandings at the beginning of the period - Excluding exceptional items


6,530 7,050

BP + CE networks

H1-20 H1-21

Robust financial performance thanks to strong commercial activity;Large positive jaws effect and decline in the cost of risk


+2.7% +3.7% +5.0% +10.3%

Loan outstandings: €628bn, +7.8% YoYo/w residential mortgages +8.6% YoYo/w consumer loans +6.8% YoYo/w equipment loans +5.8% YoYo/w State-guaranteed loans: €30.2bn

On-balance sheet deposits & savings(1):

€543bn, +6.8% YoYo/w sight deposits +9.4% YoY

Underlying figures(2)

€m

Q2-21 % Change H1-21 % Change

Net banking income 4,420 10.0% 8,718 7.6%

Operating expenses (2,669) 6.0% (5,414) 3.0%

Gross operating

income1,751 16.6% 3,304 16.0%

Cost of risk(3) (283) (56.4)% (670) (29.7)%

Income before tax

after IFRIC 21

restatement

1,455 75.7% 2,724 38.0%

Cost/income ratio(4) 61.0% (2.3)pp 61.4% (2.7)pp

465 492

Insurance

551 597

FSE

OPERATING EXPENSES(5)

(4,285) (4,400)

BP + CE networks

(250) (262)

Insurance

(298) (309)

+8.0% +8.4% +5.9% +18.5%

NET BANKING INCOME(5)

(184) (203)

PaymentsFSE

(6)

198 235

Payments

(1) Excluding centralized regulated savings (2) Excluding exceptional items (see annex) (3) Methodological effect in Q1-20: +€115m (4) After IFRIC 21 restatement (5) Excluding Banque Palatine

and Oney Bank (6) Excluding provision for home-purchase savings schemes


36,8%38,3%

1,744

2,068

Net interest income

Sharp increase in GOI: +30.1% in H1-21, expenses well under controlRetail Banking & Insurance - Banques Populaires

Loan outstanfings

+9.6%

244

267

3,063

3,414

Net banking income

1,262 1,337

Commissions

+18.6% +6.0%

(4)

+11.5%

(4)

223 243

1416

7581

June 2020 June 2021

+8.8 %

Off-balance sheet D&S

Centralized regulated savings

On-balance sheet D&S, excluding centralized items

+8.9%

313341

Deposits & savings- in €bn -

116

189 Retail market – P&C

In thousands of contracts

Consumer loans

In €bn

+64%

2.02.5 +26%

H1-20 H1-21

June 2020 June 2021

State-guaranteed loans

19


€m




Gross operating income 690 40.6% 1,287 30.1%

Cost of risk(2) (136) (53.0)% (301) (25.8)%

Income before tax

after IFRIC 21 restatement556 x2.8 1,034 65.9%


14

Life insurance gross Inflows

In €bn

% share of Unit-Linked products

1.42.3

+59%

+1.5pp

(1) Excluding exceptional items (see annex) (2) Methodological effect in Q1-20: +€34m (3) After IFRIC 21 restatement (4) Excluding provision for home-purchase savings schemes

Production


4.37.7

34,4%

35,8%

Strong increase in GOI: +9.2% in H1-21 Retail Banking & Insurance - Caisses d’Epargne

305325

+6.5%

1,8672,043

Net interest income

1,576 1,655

Commissions

+9.5% +5.0%

3,4673,636

Net banking income

+4.9%

(4) (4)

273 288

59 61

134 140

+5.0%

+4.7%467 489

June 2020 June 2021

Off-balance sheet D&S

Centralized regulated savings

On-balance sheet D&S, excluding centralized itemsJune 2020 June 2021

State-guaranteed loans

10


€m




Gross operating income 696 (0.3)% 1,339 9.2%

Cost of risk(2) (66) (76.0)% (219) (44.8)%

Income before tax

after IFRIC 21 restatement620 51.1% 1,147 34.4%

Cost/income ratio(3) 62.5% 1.5pp 62.3% (1.4)pp

7

255 338 Retail market – P&C

In thousands of contracts

Consumer loans

In €bn

+33%

3.85.1

+33%

H1-20 H1-21

Life insurance gross Inflows

In €bn

% share of Unit-Linked products

+80%

+1.4pp

(1) Excluding exceptional items (see annex) (2) Methodological effect in Q1-20: +€75m (3) After IFRIC 21 restatement (4) Excluding provision for home-purchase savings schemes

Loan outstanfings Deposits & savings- in €bn - Production



22.3 22.9

185.7 193.9

21.7 24.14.4 2.649.1 52.9

81.4 82.2

196.4210.9

235.6

257.6

June 2020 June 2021

Sight deposits

Passbook savings accounts

Regulated home savings plans

Term accounts

BPCE bonds placed in the retail network

Mutual funds

Life insurance

Other

20.7 21.5

157.0 166.1

49.9 55.4

33.135.3

321.6349.4

June 2020 June 2021

Residential mortgages

Consumer loans

Short-term credit facilities

Equipment loans

Other

+9.4%

+7.4%

+1.1%

+7.8%

(40.9)%

+10.7%

+4.4%

+8.6%

+6.8%

+10.9%

+5.8%

Deposits & savings (in €bn) Loan outsandings (in €bn)

Change YoY

+7.8%Change YoY

+6.3%796.7

847.2

582.4

627.7


Retail Banking & Insurance - Financial Solutions & Expertise

22%

25%

8%

23%

12%

7% 3%

Consumer credit

Sureties & financial guarantees

Retail securities services

Leasing

Factoring

Socfim

Other

Results

ʘ Net banking income: very robust performance in Q2-21 heightened by a Q2-20 baseline effect

ʘ Operating expenses: in line with strong activity; cost to income ratio at 51.2% in Q2-21 (-2.9pp vs. Q2-20)

ʘ Cost of risk: increase year-on-year, reflecting prudent risk management

Breakdown of revenues per business line in H1-21

€597m

Business activities

ʘ Consumer credit: record level of personal loan financing in H1-21, rising to €7bn (+39% vs. H1-20)

ʘ Sureties & financial guarantees: further momentum in guarantees on loans to individual customers (gross written premiums: +21% vs. H1-20)

ʘ Retail securities services: good half-year driven by growth in the number of stock market transactions in France despite a very strong 2020 baseline (+3% vs. H1-20)

ʘ Leasing: continued good commercial momentum with, in June, a record level of equipment lease production and long-term vehicle leasing orders in a context marked by sustained activity with the retail banking networks

ʘ Factoring: confirmed business recovery in Q2-21 with factored revenues up 33%vs. Q2-20

ʘ Socfim: building on the high levels reached by new production in Q1-21, activities continued to enjoy strong momentum in Q2-21 (+14% vs. Q2-20)


€m


Net banking income 302 15.0% 597 8.4%

Operating expenses (153) 8.4% (309) 3.7%

Gross operating income 148 22.6% 287 13.9%

Cost of risk (30) 17.5% (61) 21.2%

Income before tax

after IFRIC 21 restatement117 23.6% 229 11.9%


Good momentum in commercial activities, all businesses are catching opportunities in the economic turnaround



Solid commercial activity and financialsRetail Banking & Insurance - Insurance

Life insurance AuMs(1)- in €bn -

Scope: Insurance division of Natixis

Q2-20 Q2-21

Premiums(1)

+95%

+12%

+79%

2.1

3.7


€m




Gross operating income 128 6.7% 230 7.0%

Income before tax

after IFRIC 21 restatement125 10.1% 240 6.2%


72.776,6 78.1

1.92.1 1.4

AuM at12/31/2020

Net inflows €

Net inflowsUL

Reevaluation& others

AuM at06/30/2021

+7% YTD

Key indicators(1)

ʘ €2.9bn gross inflows and €1.7bn net inflows for Life insurance in Q2-21 (€6.4bn and €3.9bn respectively for H1-21), strongly up vs. prior year period

ʘ P&C Insurance premium growth +12% vs. Q2-20

ʘ P&C and Personal Protection equipment rate at 29.3% (+0.6pp QoQ) for the Banques Populaires and at 32.5% for the Caisses d’Epargne (+0.4pp QoQ)

ʘ P&C combined ratio at 93.5% in Q2-21 (+0.7pp YoY), 93.2% in H1-21(+1.6pp YoY)

€4.0bn

Gross inflows

YoY share of UL

€56bn

AuM

UL

€

€78.1bn

€22bn 28%

€6.4bn

38%€2.4bn

Share of UL products – H1-21

+2pp+3pp

H1-20 H1-21

+58%

+8%

+50%

P&C Insurance Life and Personal protection

5.3

7.9

(1) Excluding the reinsurance agreement with CNP (2) Excluding exceptional items (see annex) (3) After IFRIC 21 restatement


Retail Banking & Insurance - Payments/ Oney Bank

ONEY BANK

9%12%

33%

46%Split payment solution(3x4x)Assigned credit

Revolving credit

Personal loans

H1-21 breakdown of loan production by product €1.640m

Scope: Payments division of NatixisNet revenues: +18.5% in H1-21 off a low base related to the lockdown measures in France having impacted the April/May commercial activity in 2020

ʘ Payment Processing & Services: net revenues +18% in H1-21; number of card

transactions processed +17% vs. H1-20. Contactless transactions accounting for

~47% of transactions in Q2-21 vs. ~36% in Q2-20. Strong growth of mobile

payments (x2.6 vs. Q2-20) and instant payment transactions (x2.1 vs. Q2-20)

ʘ Digital: PayPlug continues to benefit from its positioning across small and

medium-sized merchants (business volumes +78% in H1-21) and with growth

across Groupe BPCE retail networks (business volumes x3.3 in H1-21)

Dalenys featuring dynamic activity levels with business volume growth

accelerating at +46% in H1-21

ʘ Benefits: Issuing volumes for the Reward activity “Titres Cadeaux” +27% in H1-21

and +25% in H1-21 for meal vouchers

Positive jaws effect in Q2-21 and in H1-21 despite the investments being made

in order to ensure sustainable development

PAYMENTS

Outstanding loans: €2.5bn at end-June 2021, down 4%

ʘ Mainly due to the drop in consumer loans caused by health restrictions affecting

physical points of sale

Loan production: +20.6% in H1-21 at €1,640m

ʘ Sharp increase in “Split payment solution 3x4x”: +21% at €762m


€m


Net banking income 101 (10.2)% 205 (8.2)%

Operating expenses (70) 0.7% (142) (1.1)%

Gross operating income 31 (27.8)% 63 (20.8)%

Cost of risk (20) (11.1)% (40) (14.0)%

Income before tax

after IFRIC 21 restatement11 (46.0)% 23 (30.2)%

Cost/income ratio(2) 69.1% 7.6pp 69.1% 4.8pp


€m




Gross operating income 17 ns 31 ns

Cost of risk (7) ns (7) ns

Income before tax

after IFRIC 21 restatement10 ns 25 55.0%


Change YoY, unless otherwise indicated



1,079

1,100

74

5

(4)

35

(6) 82

AuM at03/31/2021excl. H2O

Net flowsexcl. Ostrum AM

Net flowsOstrum AM

Marketeffect

FX impact/Other

AuM at06/30/2021excl. H2O

Controlling affiliates WCM IMAuMs: +3% QoQ with positive net inflows and market effect. Favourable mix shift notably across European affiliates with faster AuM growth at Mirova, DNCA and AEW, leading to a higher average fee rate

AM net inflows(1): excl. Ostrum AM reached ~€5bn in Q2-21 mainly driven by North American affiliates and private assets

ʘ Second quarter of positive net inflows at Harris Associates in a row (AuMnow ~$123bn)

ʘ Fifth consecutive quarter of positive net inflows on LT products overall (cumulative ~€26bn net inflows over the period)

AWM gross operating income: +39% YoY in Q2-21 and +41% in H1-21

ʘ AM net revenues excl. performance fees +22% YoY in Q2-21 (+16% in H1-21), mainly driven by higher average AuM, management fees and financial revenues

ʘ AM perf. fees: €20m in Q2-21 in line with Q2-20 levels. Performance fees diversified across multiple affiliates

ʘ Q2-21 net revenue contribution up an average ~15% YoY across affiliates in both North America and Europe

ʘ AWM expenses: +16% YoY in Q2-21 (+10% YoY in H1-21) mainly driven by higher variable comp. on the back of increased profitability. Positive jaws effect with a cost/income ratio(3) improving to 73.0% in Q2-21 (-3.5pp YoY) and to 74.6% in H1-21 (-4.5pp YoY)

Assets under management(1) (in €bn)


€m

H1-21 %

Change

Constant

Fx

% Change

Net banking income 1,586 16.3% 22.6%

Operating expenses (1,186) 9.7% 15.1%

Gross operating income 400 41.4% 52.4%

Income before tax

after IFRIC 21

restatement

402 45.0%

Cost/income ratio(3) 74.6% (4.5)pp

833

1,153

1,183

H1-21

incl.

H2O AM

%

Change

1,625 9.9%

(1,214) 9.1%

411 12.3%

410 13.7%

74.6% (0.5)pp

Global Financial Services/ Asset & Wealth ManagementRobust AuM growth and fee rate dynamic

(1) Europe including Dynamic Solutions and Vega IM, excluding H20 AM (€17bn AuM as at 06/30/2021); US including WCM IM (2) Excluding exceptional items (see annex) (3) After IFRIC 21

restatement


1 25 43 7 (7)

277 213250 330

287

(175)

33

127167

108

321 321

343

336

39399 93

12696 135

Q2-20 Q3-20 Q4-20 Q1-21 Q2-21

CVA/DVA desk FIC-T Equity Global finance Investment bankingand M&A

Net revenues continue to exhibit solid momentum on the back of a strong commercial activity and off a low base due to the H1-20 market conditions (mainly spreads widening and dividend mark-downs on equity products)

Global markets:

ʘ FIC-T revenues up YoY at €287m in Q2-21 (€617m in H1-21) with a higher contribution from Credit, Rates and Treasury more than offsetting a lower contribution from FX

ʘ Equity revenues at €108m in Q2-21 (€275m in H1-21) driving by favorable market conditions and a strong commercial successes, notably with the Groupe BPCE networks

Global finance:

ʘ Net revenues +22% YoY at €393m in Q2-21 (+18% in H1-21), driven by higher contribution from the portfolio, notably with corporates, as well as on Real assets (mainly Infrastructure) and Trade finance

Investment banking/M&A:

ʘ Investment banking revenues slightly down YoY in Q2-21 on the back of a lower contribution from DCM although +10% in H1-21

ʘ M&A revenues more than doubled YoY in Q2-21 (+20% in H1-21) off a low base and with strong contributions from Natixis Partners and Solomon Partners

Positive jaw effect with a cost/income ratio(3) improving to 64.3% in Q2-21 (-31.0pp YoY) and 61.4% in H1-21 (-24.0pp YoY)

Cost of risk improving and benefiting from benign Stage 3 net provisioning in Q2-21

Net revenues(1) (in €m)845


€mQ2-21

%

Change H1-21

%

Change

Constant

Fx %

Change

Net banking income 919 79.8% 1,859 56.1% 63.0%

Operating expenses (583) 21.9% (1,159) 11.8% 14.9%

Gross operating income 336 x10.2 700 x4.5

Cost of risk (28) (90.0)% (109) (76.8)%

Income before tax

after IFRIC 21

restatement

303 ns 614 ns


929 923

522 661

(55)0

642 617

(208)

275

619

728202

231

H1-20 H1-21

1,255

1,852

Global Financial Services/ Corporate and Investment Banking Strong commercial activity and improved cost of risk

(1) Total excluding CVA/DVA desk and other; figures at current FX (2) Excluding exceptional items (see annex) (3) After IFRIC 21 restatement


DESCRIPTION

Internal solidarity and guarantee system defined by law between all affiliated French Regulated Credit Institutions (FRCI) within the group

BPCE SA has the legal obligation to take all necessary measures to guarantee the liquidity and the solvency of its FRCI affiliates

AMOUNT

The aggregate Tier 1 capital of the 2 networks ultimately protects the Bondholders

The French Monetary and Financial Code creates a joint solidarity fund (at BPCE SA level) immediately available (€1.283bn as of June 30, 2021)

In addition, mobilization of the total regulatory capital of the 2 networks if needed (€56.9bn of Tier 1 capital as of June 30, 2021 )

CONSEQUENCESFinancial failings of any affiliated FRCI (including BPCE SA) within the group would be covered by the aggregate Tier 1 capital of the 2 networks

Only 1 credit risk and 1 senior debt rating for all affiliated FRCI within the group (excl. CFF with S&P)

PREVENTION

BPCE SA, as the central institution, has taken measures to safeguard liquidity and solvency of its affiliated FRCI

Examples: Natixis: guarantee mechanism on GAPC credit portfolio

Crédit Foncier de France: €1.5bn capital increase in late 2011

Group internal solidarity & guarantee system call


ASSETS (in millions of euros)

June 30, 2021 Dec. 31, 2020

Cash and amounts due from central banks 151,361 153,403

Financial assets at fair value through profit or loss 186,044 196,260

Hedging derivatives 7,662 9,608

Financial assets at fair value through shareholders' equity 50,043 49,630

Financial assets at amortized cost 27,218 26,732

Loans and receivables due from credit institutions

and similar at amortized cost99,064 90,018

Loans and receivables due from customers at amortized cost 757,573 746,809

Revaluation difference on interest rate risk-hedged portfolios 6,833 8,941

Insurance activity investments 129,175 124,566

Current tax assets 642 747

Deferred tax assets 3,476 3,667

Accrued income and other assets 14,282 16,367

Non-current assets held for sale 2,434 2,599

Investments in associates 4,383 4,586

Investment property 774 770

Property, plant and equipment 6,089 6,222

Intangible assets 1,037 1,038

Goodwill 4,354 4,307

TOTAL ASSETS 1,452,445 1,446,269

LIABILITIES (in millions of euros)

June 30, 2021 Dec. 31, 2020

Amounts due to central banks

Financial liabilities at fair value through profit or loss 162,369 191,371

Hedging derivatives 13,523 15,262

Debt securities 229,051 228,201

Amounts due to credit institutions 153,187 138,416

Amounts due to customers 648,664 630,837

Revaluation difference on interest rate risk-hedged

portfolios198 243

Current tax liabilities 1,014 485

Deferred tax liabilities 1,140 1,239

Accrued expenses and other liabilities 21,476 22,662

Liabilities associated with non-current assets held for sale 2,173 1,945

Insurance-related liabilities 121,014 114,608

Provisions 5,451 6,213

Subordinated debt 16,262 16,375

Shareholders' equity 76,923 78,412

Equity attributable to equity holders of the parent 76,266 72,683

Non-controlling interests 657 5,728

TOTAL LIABILITIES 1,452,445 1,446,269

Consolidated balance sheet


Statement of changes in shareholders' equity


Equity attributable to equity

holders of the parent

December 31, 2020 72,683

Distributions (314)

Capital increase (cooperative shares) 118

Impact of acquisitions and disposals on non-controlling interests (minority interests)

O/w full impact of buyback of all Natixis minority shareholders

1,513

1,542

Income 1,856

Changes in gains & losses directly recognized in equity 433

Other (24)

June 30, 2021 76,266


In billions of eurosJune.30, 2021 Dec.31, 2020

Gross outstanding loans to customers and credit institutions 870.3 850.4

O/w S1/S2 outstandings 847.9 828.9

O/w S3 outstandings 22.4 21.5

Non-performing loans/gross outstanding loans 2.6% 2.5%

S1/S2 impairments recognized 4.2 4.2

S3 impairments recognized 9.4 9.4

Impairments recognized/non-performing loans 42.1% 43.7%

Coverage ratio

(including guarantees related to impaired outstandings)62.6% 66.2%

Non-performing loans and impairments


7%

24%

55%

8%

4% 2%

France Centralization of regulated savings

Europe excluding France North & South America

Asia/Oceania Africa & the Middle East

Financial institutions/local governments Central administrations/Central banks and other sovereign exposures

Corporate customers

71%

18%

7%4%1%

Breakdown per geographical region

69%

15%

9%

4% 2%

Breakdown of gross exposure as of June 30, 2021(1)

(1) Estimate


Issuer Operator

Short-term

All instruments, all markets including CDs, ECP, USCP & interbank deposits BPCE / Natixis Natixis

Medium & long-term

Covered Bonds

BPCE SFH BPCE

CoFF (SCF)

Natixis Pfandbriefbank

CFF

Natixis

Senior Preferred (Unsecured)

Public issues BPCE BPCE

Plain vanilla private placements BPCE Natixis

Structured private placements Natixis Natixis

Senior Non-Preferred (Unsecured) BPCE BPCE

Subordinated debt BPCE BPCE

In the money market, Banque Populaire and Caisse d’Epargne networks & other subsidiaries can issue in the domestic market (CDs & interbank deposits)

BPCE and Natixis fully benefit from the Group internal solidarity and guarantee system

Main issuers in the market


BPCE

Roland CharbonnelHead of Group Funding & Investor Relations

+33 1 58 40 69 30

[email protected]

Jean-Philippe BerthautHead of Group Funding

+33 1 58 40 69 15

[email protected]

François CourtoisHead of Investor Relations

+33 1 58 40 46 69

[email protected]

France de SuryDeputy Head of Investor Relations

+33 1 58 40 39 95

[email protected]

Anne SadournyInvestor Relations

+33 1 58 40 76 59

[email protected]

Cindy AmarInvestor Relations APAC

+ 852 3915 1314

[email protected]

Marianne MedoraInvestor Relations Americas

+1 212 891 5782

[email protected]

Damien PommierInvestor Relations Americas

+1 212 632 2856

[email protected]

Contact list

groupebpce.com

http://www.groupebpce.fr/

Investor Presentation BPCE Inaugural RAC Tier 2

Documents

Transcript of Investor Presentation BPCE Inaugural RAC Tier 2