AFD // 2021 Universal Registration Document

CONSOLIDATED FINANCIAL STATEMENTS 6 Notes to the consolidated financial statements

The list of companies in which AFD directly or indirectly holds an equity investment that exceeds 20% of the company’s share capital is presented below.

% control 2020

% interest 2020

% control 2021

% interest 2021

Total net income

Contribution to net earnings (2)

Balance sheet total (1)

Localisation

In thousands of euros

AFD

54,584,134 196,507

Fully consolidated companies Soderag

Antilles 100.00 100.00 100.00 100.00

7,031

1,721

Proparco

Paris 78.19 78.19 78.19 78.19 7,187,340

91,130

Sogefom – AFD share Sogefom – Socredo share

Paris 58.69 60.00 58.69 60.00

49,980

-318

Paris 1.31

1.31

Fisea

Paris 100.00 100.00 100.00 100.00 268,378

2,241

Companies accounted for by the equity method P Non-financial entities

New Caledonia 50.00 50.00 50.00 50.00

Société Immobilière de Nouvelle Calédonie

33,115

2,926

P Financial entities Banque Socredo

Polynesia 35.00 35.00 35.00 35.00 113,533

3,614

Other non-consolidated investments P Foreign state-owned or partially state-owned entities Banque nationale de Dévelopement Agricole

Mali

22.67 22.67 22.67 22.67 866,022 12,496

Banque de Développement des Seychelles Seychelles 20.41 20.41 20.41 20.41

39,376 420

Société de Gestion et d’Exploitation de l’Aéroport de Conakry G’Bessia

Guinea 20.00 20.00 20.00 20.00

21,038 -1,734

P Stakes held by Proparco in entities abroad Acon Latin America Opportunities Fund ɸ A Multi-country 20.00 20.00 20.00 20.00

19,928 1,607

Acon Renewables ɸ BV (Hidrotenencias ɸ SA)

Panama 24.47 24.47

African Education Holdings

Multi-country

Africinvest ɸ III SPV ɸ I

Kenya 21.82 21.82 3.67 3.67 230,305 12,392

Aif Pharma Lux

Morocco 37.28 N/A 39.31 39.31 Mozambique 26.32 26.32 26.32 26.32 Multi-country 50.00 50.00 50.00 50.00 Multi-country 50.00 50.00 50.00 50.00 Brazil 100.00 100.00 100.00 100.00 Multi-country 23.41 23.41 23.41 23.41 Morocco 28.77 28.77 31.68 31.68 Egypt 23.87 23.87 23.87 23.87 India 33.36 33.36 6.67 6.67 Egypt 100.00 100.00 100.00 100.00 Multi-country 22.84 22.84 22.84 22.84

23,401 3,512 89,034 1,284 18,106 -349 28,746 -596 12,008 -17 74,961 -1,303 3,559 454 63,822 -853 8,927 -950 4,499 -6,208 37 62

Amethis Milling ɸ SPV Averroes Finance ɸ II Averroes Finance ɸ III

Bredev ɸ SAS

Central Africa Growth Fund

EuroPro Holding SAL (ex Wadi Holding)

Egypt 35.29 35.29 35.29 35.29 330,598 -9,572

Ilera Holdings

IT worx(It holding)

Seaf India Agribusiness international Fund

Tiba Education Holding ɸ BV

TLG Finance ɸ SAS (Alios Finance)

TPS (D) Limited

Tanzania

Tunisie Participations ɸ SA (formerly Tunisie Sicar)

Tunisia 20.00 20.00 20.00 20.00 Tunisia 26.00 26.00 26.00 26.00

457

1 0

Kantara Proparco ɸ I ɸ Ltd (ex Unimed)

0

134

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2021 UNIVERSAL REGISTRATION DOCUMENT