AFD - 2019 Universal registration document

CONSOLIDATED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH IFRS

Statutory auditors’ special report on regulated agreements

6.4 Statutory auditors’ special report on regulated agreements

To members of the Board of Directors of the l’ Agence Française de Développement , In our capacity as statutory auditors of AFD, we hereby present our report on your regulated agreements.

On the basis of the information provided to us, we are required to inform you of the principal terms and conditions, as well as the reasons providing evidence of the benefit to the company, of the agreements of which we have been informed or that we discovered during our assignment. It is not our role to determine whether they are beneficial or appropriate or to look for the existence of other agreements. It is your responsibility, under the terms of Article R. 225-31 of the French Commercial Code, to evaluate the benefits arising from these agreements prior to their approval. Where applicable, we are also responsible for presenting you with the information provided for in Article R. 225-31 of the French Commercial Code relating to the execution, during the year elapsed, of the agreements already approved by the Board of Directors. We performed the procedures we considered necessary in accordance with the professional guidance issued by the national institute of auditors ( Compagnie Nationale des Commissaires aux Comptes ) relating to this engagement. These procedures consisted in verifying that the information provided to us is consistent with the basic documentation from which it was taken. Agreements submitted to the Board of Directors for Approval AGREEMENTS APPROVED AND ENTERED INTO DURING THE PREVIOUS FINANCIAL YEAR We report that we were not notified of any agreement approved or entered into during the previous financial year that required to be submitted to the Board of Directors for approval in accordance with Article L225-38 of the French Commercial Code. Agreements already approved by the Board of Directors AGREEMENTS APPROVED IN PREVIOUS YEARSWHICH CONTINUED TO BE IMPLEMENTED OVER THE 2019 FINANCIAL YEAR Pursuant to Article R. 225-30 of the French Commercial Code, we were informed that the following agreements already approved by the Board of Directors in previous years remained in effect last year. With the European Investment Bank Risk sharing framework agreement with the EUROPEAN INVESTMENT BANK On 22 December 2016, AFD signed a risk sharing framework agreement with the European Investment Bank. Through this, the EIB shares risk up to a maximum amount of €150M for projects included in the portfolio of eligible projects. These are projects for which a confirmation of participation has been signed by AFD and the EIB. In the event of payment default, AFD may send notification to the EIB indicating the amount and the nature of the unpaid sums, their due date and the amount of the EIB’s share of these sums. Up to the threshold of its available participation commitment, the EIB is committed irrevocably to paying AFD within a period of Ǿ 60 Ǿ days following receipt of the notification, an amount corresponding to its percentage share. In exchange for the EIB’s risk sharing commitment, AFD will pay the EIB a risk sharing commission calculated for each project. Should a project default, no participation commission will be payable from AFD to the EIB. The EIB’s risk sharing benefits from a European Union guarantee in respect of the European Fund for Strategic Investments. This agreement was approved by the Board of Directors on 15 December 2016 With the Coordination Sud non-pro fi t group Agreement between AGENCE FRANÇAISE DE DÉVELOPPEMENT and COORDINATION SUD for the fi nancing of the three-year COORDINATION SUD programme of activities 2017/2019 On 23 February 2017, the AFD Board of Directors approved the signing of a regulated agreement with COORDINATION SUD for the financing of the three-year COORDINATION SUD programme of activities 2017/2019.

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UNIVERSAL REGISTRATION DOCUMENT 2019