AFD // 2021 Universal Registration Document

CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements

In addition, the IASB has published standards and amendments, not all of which have been adopted by the European Union as at 31 ɸ December 2021. They will come into force on a mandatory basis for financial years beginning on or after 1 ɸ January 2022 at the earliest, or their adoption by the European Union. They were therefore not applied by the Group as at 31 ɸ December 2021.

Thus, this simplification measure can be applied to rent concessions on payments originally due until 30 ɸ June 2022. In 2021, as in 2020, the AFD Group did not benefit from any Covid-19-related rent concessions. The other standards and interpretations applicable at 1 ɸ January 2021 had no significant impact on the Group’s financial statements at 31 ɸ December 2021.

Standards applicable to future financial years

Provisional date of application

Amendment to IAS ɸ 37 “Provisions, Contingent Liabilities and Contingent Assets” – Onerous Contracts – Cost of Fulfilling a Contract

1 ɸ January 2022 1 ɸ January 2022 1 ɸ January 2023 1 ɸ January 2023

Annual Improvements to the IFRS (Cycle 2018-2020) Amendments to IAS ɸ 1 “Accounting policy disclosures” Amendments to IAS ɸ 8 “Definition of an accounting estimate”

Amendments to IAS ɸ 12 “Income Taxes” – Deferred taxes relating to assets and liabilities arising from the same transaction

1 ɸ January 2023

6.2.3 Principles for the preparation of the consolidated fi nancial statements of the AFD Group at ɸ 31 ɸ December 2021 6.2.3.1 Consolidation scope and methods 6.2.3.1.1 Scope of consolidation AFD’s consolidated financial statements cover all fully controlled enterprises, joint ventures and companies on which the Institution exerts a significant influence. The following are not included in the consolidation scope: P companies of no real significance; P foreign companies in which AFD holds a minority interest and does not exercise significant influence due to the companies being either fully or partially state-owned.

IFRS ɸ 10-11-12 consolidation standards: signi fi cant judgements and assumptions used in determining the scope of consolidation The elements used to draw a conclusion on whether AFD exercises control or influence over the entities in which it invests are many. Accordingly, the Group determines its ability to exercise influence over the management of another entity by taking due consideration of the entity’s structure, shareholders, arrangements and the participation of AFD and its subsidiaries in decision-making bodies. Moreover, materiality with regard to Group accounts is also subject to analysis.

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2021 UNIVERSAL REGISTRATION DOCUMENT