AFD // 2021 Universal Registration Document

FINANCIAL INFORMATION Events after the reporting period

its way out of the crisis. The balance between the three Regional Directorates should remain unchanged, with the Andes contributing about half of the business plan, the Mexico/Cuba/ Costa Rica Regional Directorate one third, and Brazil and the Southern Cone 20%. In parallel with its still high target of 70% climate co-benefits in the region, AFD will place a greater emphasis on the combination of environmental and social impacts through the promotion of projects, credit lines, and public policy loans in support of the ecological and social transitions, pursuant to its mandate in the region. The gender targets will be raised in line with AFD’s commitments in this area. 5.1.3 Borrowings To take into account the new needs of counterparties during the Covid crisis, the Board of Directors of 28 ɸ January 2021 raised the maximum authorised borrowing amount for ɸ 2021 to €9.6bn. This authorisation was used for an amount of €7.7bn. 5.1.4 Trend information There has been no significant deterioration in the financial position of the issuer and its subsidiaries (considered as a whole) since the last audited financial statements of 31 ɸ December ɸ 2021. 5.1.5 Signi fi cant change in the issuer’s fi nancial position There has been no significant change in the financial position of the issuer and its subsidiaries (considered as a whole) since the last audited financial statements of 31 ɸ December 2021. development policy, Expertise France became part of the AFD Group’s scope of consolidated as of 1 January 2022. On the same date, the EPIC Expertise France was transformed into an SAS with a share capital of €829K and wholly-owned by AFD. The consolidation of Expertise France has no significant impact on the Group’s IFRS financial statements. PROPARCO SHAREHOLDERS Crédit Agricole SA sold part of its Proparco shares to AFD, bringing AFD’s stake in Proparco to 79.76% compared to 78.19% in 2020. Crédit Agricole SA remains a Proparco shareholder with a 0.37% stake. This operation came into force after the ministerial order dated 17 February 2022.

of the government’s Recovery Plan, notably through the Recovery Contracts for the French Overseas Departments and Collectivities (COROM) launched in 2021 by the Ministry for the French Overseas Departments and Collectivities (MOM), and in parallel with the Overseas Development Fund, whose operational deployment in 2020 coincided with the health crisis. Projected commitments (excluding Sogefom guarantees) are expected to amount to around €900M for 2022, down 17% compared to 2021. In 2020 and 2021, the years were marked by the exceptional State-guaranteed loans for New Caledonia and Polynesia, amounting to €780M. In 2022, a significant portion of financing will focus on public sector funding, which is estimated at €722M for the loan segment. For the grant segment (Overseas Development Fund), €15M should be committed in 2022, to which must be added the commitments made by AFD though the COROM contracts. In the foreign States neighbouring the overseas territories, AFD has a target of €0.2bn in grant and loan approvals. The three priority countries for French development aid in the Three Oceans scope – namely Haiti, Madagascar and the Comoros – will benefit from most of the donation effort. In these three countries, the reinforcement of human capital (health, education, training), access to basic services (including water), the preservation of natural resources, and increased economic and employment opportunities will be targeted. A signature target of €1.1bn should allow AFD (which will remain the leading bilateral funder) to bring significant volumes of financing to Latin America in a political and economic landscape that remains uncertain due to the consequences of the Covid-19 epidemic. It should be noted that Brazil, Colombia and Costa Rica will enter an electoral cycle, while Argentina will have to negotiate a very significant agreement with the IMF, which will condition

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5.2 Events after the reporting period

UKRAINE POLITICAL CONFLICT The recent events in Ukraine led Proparco to adopt measures to closely monitor (i) its counterparties in this country and neighbouring countries and (ii) the effects of the sanctions imposed on Russia. No additional adjustment was recorded in AFD’s 2021 parent company financial statements in respect of the current situation in the region. At 31 December 2021, Proparco had a net balance sheet exposure of €26.4M in Ukraine. Moreover, the measurement of the direct and indirect consequences of the Russia-Ukraine conflict on the countries in which Proparco operates and on its

operating conditions is premature at this stage. CONSOLIDATION OF EXPERTISE FRANCE

Following the signature in 2020 of the AFD/Expertise France strategic project for an extended group at the service of France’s

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2021 UNIVERSAL REGISTRATION DOCUMENT