WHY IT IS CREDIBLE A winning strategy

In line with the roadmap

2022 FINANCIAL TARGETS REACHED IN 2021

CAPITAL SIMPLIFICATION OF CRÉDIT AGRICOLE S.A.

100%

Full unwinding of the Switch insurance guarantee mechanism in 2021

Income impact over a full year of €104m from the unwinding of the last 50% in Q4-21 (-60bp on the CET1 ratio of Crédit Agricole S.A.)

For the implementation of our Group Project, we defined a number of indicators. They are designed to formalise our ambitions, reflect the efforts of our employees and the work performed and objectively assess our level of success.

FINANCIAL INDICATORS

1
Results

Crédit Agricole S.A. net income group share (RNPG)⁽¹⁾

2020: €3.8bn

2021: €5.4bn

2022 target: > €5bn

⁽¹⁾ Underlying
2
Return on equity

Crédit Agricole S.A. return on equity (ROTE RATIO)⁽¹⁾

2020: 9.3%

2021: 13.1%

2022 target: > 11%

⁽¹⁾ Underlying
3
Phased equity ratio

Crédit Agricole S.A. equity ratio⁽¹⁾ and liquidity indicators

2020: 12.9%

2021: 11.9%

2022 target: 11%

Liquidity reserves

2020: €438bn

2021: €465bn

Surplus of
stable resources

2020: €265bn

2021: €279bn

⁽¹⁾ Phased CET1
4
Earnings per share

Crédit Agricole S.A. earning per share⁽¹⁾

2020: €1.20

2021: €1.69

⁽¹⁾ Underlying
5
Operational efficiency

Crédit Agricole S.A. operational efficiency (cost/income ratio excluding srf)⁽¹⁾

2020: 59.6%

2021: 57.8%

2022 target: < 60%

⁽¹⁾ Underlying
6
Payout ratio

Crédit Agricole S.A.
pay-out ratio

2020: 66%

2021: 57%⁽¹⁾

2022 target: 50%

⁽¹⁾50% of 2021 underlying Net income Group share, i.e. €0.85 plus dividend catch-up 2019 (€0.20 on €0.40)
7
Non-phased equity ratio (CET1)

Crédit Agricole group non-phased equity ratio (CET 1)

2020: 16.9%

2021: 17.5%

2022 target: > 16%
8
Partial unwinding of the Switch

Partial unwinding of
Crédit Agricole group Switch mechanism

2020: 35%

2021: 100%

2022 target: 50%
9
Crédit Agricole group revenue synergies

Crédit Agricole group
revenue synergies

2020: €9bn

2021: €9.5bn

The distribution of value

REVENUES

REDISTRIBUTION OF FINANCIAL FLOWS

EMPLOYEES¹ - 28% 28%

Gross salaries, incentive plans, profit sharing and amounts allocated to employee pensions.

Impact on society

For Crédit Agricole S.A., 75,000 employees including 1,769 work-study employees and 1,374 interns (FTE monthly average).
SUPPLIERS² - 17% 17%

EXTERNAL SERVICE PROVIDERS

External and operating expenses. The purchasing volume for the Group from VSBs/SMEs in 2020 was €2.2bn⁽²⁾.

SPONSORSHIP AND GIVING

€33.5M in tax-deductible expenses for Crédit Agricole Group.

Impact on society

2,622 Crédit Agricole S.A. Suppliers have an EcoVadis rating as at 25 January 2022. The purchasing volume from the sheltered and disability-friendly sector represents €4.9m for the entire Group in France.

Corporate philanthropy activities are directed both to the fight against poverty and exclusion and to cultural initiatives and environmental protection.
TAX³ - 19% 17%

Corporate income tax, other taxes and duties⁽⁶⁾, employer contributions and payroll taxes (excluding residual VAT, which is the cost for the Group of non-recoverable VAT).

Impact on society

Crédit Agricole is a major tax contributor in France with an income tax liability of €2,463m in 2021.
COSTS OF RISK⁴ - 6% 7%

Allocations to and reversals of provisions for all risks during the financial year, as well as the corresponding losses not covered by provisions.

Impact on society

The cost of the credit risk reflects the bank’s ability to deliver responsible lending solutions adapted to each type of customer: €747bn in loans outstanding (Retail banking in France).
MINORITY INTERESTS - 2% 4%

Share of the net income of majority-controlled, but not wholly owned, subsidiaries attributable to the minority shareholders of these subsidiaries.
OTHERS⁵ - 3% 1%

Depreciation charges, share of net gains and losses on other assets.