Full-year 2021 and Q4-21 results

Retail Banking & Insurance: strong commercial momentum in the Banques Populaires, Caisses d'Epargne and all our business lines. Net banking income² growth of 6.2% in 2021

• Loan outstandings: up 6.2% year-on-year, including +7.6% for residential mortgages, +7% for consumer loans, and +5.5% for equipment loans
• Insurance: revenue growth of 5% in 2021, net inflows of €6.6bn in Life Insurance
• Financial Solutions & Expertise: net banking income up 5.8% in 2021, strong momentum in all businesses
• Digital: sustained rollout of digital tools in the BP and CE retail banking networks: 11.8m active customers, including 8.9m active on mobile devices, +24% vs. December 2020

Global Financial Services: strong growth in revenues, +26.6% in 2021and +24.4% in Q4 21, driven by very strong commercial momentum and favorable financial markets

• Asset & Wealth Management: €1,245bn of assets under management at the end of 2021 for Natixis IM; positive inflows of €15bn in Q4-21, the 7^th consecutive quarter of positive inflows on long-term products; NBI up 39.5% in Q4-21 YoY
• Corporate & Investment Banking: very dynamic commercial activity in 2021 and Q4-21; NBI up 32.4% in 2021. Low level of cost of risk. FIC-T revenue growth of 4% vs. T4-20; NBI up 13% in Q4 21 for Global finance with a very positive contribution from Real Assets and portfolios. 80% increase in revenues from M&A in 2021

Tight control over costs: cost/income ratio of 66.1%³ in 2021, down by 4.2pp vs. 2020 and by 2.9pp vs. 2019

• 1.7pp reduction in the cost/income ratio in the Retail Banking division and reduction of 5.2pp in Global Financial Services in 2021

Continued prudent provisioning policy

• Cost of risk for the Group of €1.8bn in 2021, or 23bps, down 40.5% vs. 2020 but up 30.4% vs. 2019
• Cost of risk for the Group equal to €619m in Q4-21, i.e. 32bps, including €315m of Stage 1 / Stage 2 provisions
• Stage 3 provisions stable, at a still low level, at €304m in Q4 21 vs. €316m in Q3 21 and €1.4bn in 2021 vs. €1.4bn in 2019

Very high level of capital adequacy, above the end-2021 guidance

• CET1⁴ ratio at 15.8% at the end of December 2021, including a decline of -74bps related to the purchase of Natixis minority interests and to the extremely dynamic organic growth enjoyed by all the business lines in 2021 (-54bps)

Completion of the Group’s simplification process

• Transfer to Banque Postale of the 16.1% stake in the capital of CNP Assurances completed at the end of 2021
• Natixis IM: plans to acquire a 45% equity interest in Ostrum AM and 40% of AEW Europe currently in their final stages
• Plans to transfer insurance and payments activities to BPCE proceeding on schedule
• Sale by Natixis of the residual stake in Coface completed in early January 2022

Laurent Mignon, Chairman of the Management Board of Groupe BPCE, said: “We have supported all our customers during the economic recovery, playing to the full our role in financing the economy through our activities in Retail Banking and Corporate & Investment Banking, and as a major player in savings management. The support we provided our customers is reflected in the excellent commercial results achieved by all the Group's different business lines. As an unlisted cooperative Group, we can devote the vast majority of these results to continuing and expanding our action with our customers, particularly in their energy transition. We have also completed the final steps in the transformation of the Group with a simplification of its organizational structure, enabling us to execute our strategic plan under the best possible conditions and to become a front-ranking cooperative banking group, innovative and working closely with our customers at a local level, closely attuned to the challenges facing society.”

^{1Group share 2Underlying 3See note on methodology 4Estimate}