AFD // 2021 Universal Registration Document

FINANCIAL INFORMATION Economic presentation of the consolidated financial statements

ASSETS Changes in total assets were mainly due to the increase in net loans outstanding (+7%), which was partly offset by the decrease in the AFD Group’s cash position (-14%), and the derivatives portfolio (-33%). The AFD Group’s net loans outstanding totalled €42,109M at 31 ɸ December 2021, i.e. 76% of the consolidated balance sheet, an increase of €2,595M (+7%) compared with the previous year. Gross outstanding loans stood at €42,858M, up €2,568M or (+6%) compared with ɸ 2020.

The change in gross consolidated outstanding loans was mainly due to: P the increase in loans at the Group’s risk in the foreign country zone (+€2,650M); P an increase in outstanding loans in the French Overseas Departments and Collectivities (+€109M); P the decrease in loans with risks borne by the French State (-€205M). At 31 ɸ December 2021, the adjustment to fair value of the loan portfolio for which the contractual flows do not meet SPPI (1) characteristics under IFRS ɸ 9 amounted to (-€44M).

2021

2020

Outstandings

% Outstandings

%

In millions of euros

Loans at AFD Group’s risk Of which Foreign countries

41,838 35,783 22,747 13,037

98% 83% 53% 30%

39,065 33,133 20,138 12,995

97% 82% 50% 32%

Sovereign

Non-sovereign

Of which French Overseas Departments and ɸ Collectivities Of which other outstanding loans

5,908

14%

5,799

14%

147

0% 2% 2% 0%

133

0% 3% 3% 0%

Loans at the State’s risk

1,020 1,020

1,225 1,225

Loans guaranteed by the State Loans granted by the State

0

0

GROSS CONSOLIDATED OUTSTANDING LOANS

42,858

40,290

5

Outstanding loans at the Group’s risk (€41,838M, of which €35,783M for foreign countries and €5,908M for French Overseas Departments and Collectivities) resulted in impairments totalling €1,791M, or a coverage rate of 4.3%. Performing sovereign loans were covered for the amount of €995M at 31 ɸ December 2021, mainly by the reserve account, which represents a coverage rate of 4.4%. ❙ Summary of outstandings and impairments

Outstandings

Impairment

In millions of euros

Foreign countries Sovereign of which doubtful Non-sovereign of which doubtful

22,747

995

611

10

13,037

706 317

891

French Overseas Departments and Collectivities Non-sovereign

5,908

90 90

of which doubtful

212 147

Other outstanding loans

TOTAL

41,838

1,791

of which doubtful

1,713

417

(1) SSPI: solely payment of principal and interests.

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2021 UNIVERSAL REGISTRATION DOCUMENT