AFD - 2019 Universal registration document

PRESENTATION OF AFD

AFD Group

For the past five years, AFD has had a solid investor base in France and Europe. This investor base is also supplemented by international players in Asia, America and the Africa, Middle East region. This geographical diversity goes hand-in-hand with the type of investors. It can also be seen from the last graph that the portion of banking investors is declining only very slightly (26% in 2016,

then 24% in 2017 compared to 19% in 2018 and 21% in 2019) despite the banking licence change AFD experienced in 2017. At the time, AFD’s spread had increased by around ten basis points at all points of the curve before returning to 4 to 7 Ǿ bps at the end of 2017. Since mid-2018 we can see that AFD’s spread has normalised and is back in line with that of its closest peers.

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1.5 AFD Group

1.5.1 Consolidation scope As part of its mission to finance development, AFD holds equity stakes in companies or organisations in the geographic areas in which it is active, i.e. foreign countries and the French Overseas Departments and Collectivities. The percentages of ownership and of voting rights shown below represent both direct and indirect investments. ❙ AFD Group – Consolidation scope at 31 December 2019

Percentage of ownership 31/12/2019

Percentage control 31/12/2019

Percentage of ownership 31/12/2018

Percentage control 31/12/2018

Country

Method (1)

France Mainland France Proparco

France France France

FC FC FC FC EQ EQ EQ

74.18 60.00

64.95 60.00

74.18 58.69

64.95 58.69

Sogefom

Fisea

100.00

100.00

100.00

100.00

French Overseas Departments and Collectivities Soderag

France – Guadeloupe France - New Caledonia France – Martinique

100.00

100.00

100.00

100.00

SIC

50.00

50.00

50.00

50.00

Simar

Socredo Asia Propasia

France – Polynesia

35.00

35.00

35.00

35.00

Hong-Kong

FC

74.18

64.95

100.00

100.00

(1) FC: Full Consolidation – EQ: Equity method. Details of the consolidation scope are shown in Section 6.2.3.1.1. 1.5.2 Information about subsidiaries The information below (company data in accordance with French accounting standards) sets out the principal data relating to the subsidiaries which are fully consolidated into the financial statements of AFD. PROPARCO (SOCIÉTÉ DE PROMOTION ET DE PARTICIPATION POUR LA COOPÉRATION ÉCONOMIQUE) Purpose: To promote development projects, acquire equity investments and grant loans in the regions in which AFD is mandated to operate Legal form: Public limited company ( société anonyme - société financière ) Head office: 151 rue Saint-Honoré, 75001 Paris Share capital: €693,079,200 (excluding issue premium)

AFD’s stake: 74.18% Other shareholders: French banks (21.69%), private investors (1.67%), international financial institutions (11.03%), ethical

foundations and funds (0.65%) Balance sheet total: €6,306.6M Total net equity: €964.8M

Equity investments: €1,111.1M Gross outstandings: €5,120.6M Net banking income: €147.3M SOGEFOM (SOCIÉTÉ DE GESTION DES FONDS DE GARANTIE D’OUTRE-MER) Purpose: To provide a partial guarantee for financing operations undertaken by credit institutions with operations in the French Overseas Departments and Collectivities that have subscribed to a portion of its share capital or have been approved by its Board Legal form: Public limited company ( société anonyme )

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UNIVERSAL REGISTRATION DOCUMENT 2019