AFD - 2019 Universal registration document

CONSOLIDATED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH IFRS

Statutory auditors’ special report on regulated agreements

P holding the permanent credit files, preparing the “internal quality” reports and rating the “Risk assessment files” on behalf of AFD; P more generally, taking the right decisions to ensure the efficient management of AFD’s equity stake in the AAF and AAF SME (excluding disposal of AFD’s equity stake in the AAF which can only be done at AFD’s request). In return, PROPARCO’s commission is as follows: P between the effective date of this agreement and the end of the AAF investment period: 0.60% per annum of the amount subscribed by AFD; P between the end of the AAF investment period and the date on which AAF and AAF SME are liquidated: 0.60% per annum of the cost price of the portfolio investments payable to AFD. No financial impact was recorded in respect of this agreement in 2019. Service agreement AFD has signed a service agreement with its subsidiary PROPARCO. The agreement, signed on 13 April 2018 with retroactive effect from 1 January 2017, establishes primarily the following services: P provision of dedicated staff at head office or in the representation offices and staff seconded to external organisations; P various services (financial management, HR management, permanent control, compliance, data protection, risk management (particularly country risk and sovereign risk), periodic control, security and business continuation, documentation and archiving); P technical support services provided by some operational departments (possibly AFD’s functional departments). AFD was paid a fee of €54,032,000 under this agreement in 2019. Agreement relating to the “transforming fi nancial systems for the climate” (TFSC) programme At its meeting on 28 September 2018, the Board of Directors authorised the principles of the Subsidiary Agreement between AFD and PROPARCO as part of the Transforming Financial System for Climate programme. This is a programme for public and private financial institutions who wish to make climate impact investments. The agreement formalises the vital role AFD will play in rolling out the programme among private financial institutions. It was signed on 14 October 2019 for a 13-year term which can be tacitly renewed for two successive five-year periods. AFD recorded no financial impact on account of this agreement in 2019. Paris La Défense, 27 March 2020 Courbevoie, 27 March 2020 KPMG S.A. Pascal Brouard Partner MAZARS Jean Latorzeff Partner

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UNIVERSAL REGISTRATION DOCUMENT 2019