AFD // 2021 Universal Registration Document

7

AFD’S ANNUAL PARENT COMPANY FINANCIAL STATEMENTS

Accounting principles and assessment methods

Amounts recognised on the income statement at 31/12/2021: Cost of services rendered over the period 513

111 9,068

2,208

11,900 202 12,102

Cost of past services

0

0 0

0

0

0

0

0

Financial cost for the period

98

998

163 149

1,259 1,164

11 1,269 -47 1,117

Recognised actuarial gains (losses) Expected return on retirement plan assets

124

-611 1,503

0

0

0

0

Cost of services rendered Impact of reductions/liquidations Expenses booked

734

-500 11,569

2,520

14,323 165 14,488

Reconciliation of opening and closing net liability: Liability at 1 ɸ January

10,063 -3,194 94,504 17,471

118,844 1,399 120,243 14,323 165 14,488

Expenses booked Contributions paid

734

-500 11,569

2,520

0

Restatements and transfers Services paid by employer

0

-96 -753

-197

-1,045

-11 -1,056

-78

0 -2,095 -1,496

-3,668 -123 -3,791

Items not to be recycled in profit or loss

0

0

0

0

0

0

Net liabilities at 31/12/2021

10,720 -3,790 103,226 18,298 128,453 1,430 129,883

Change in net liabilities

657

-596 8,721

827

9,610

31 9,641

Projected commitments at 31 ɸ December 2021 are as follows:

In thousands of euros Actuarial debt at 31/12/2021 Cost of services rendered in 2022

10,720 15,312 103,226 18,298 147,555

1,430 148,985 196 10,712

640 213 275

71

7,807 1,535

1,999 10,516

Financial cost in 2022

0

257

2,005

18

2,024

Actuarial losses (gains) recognised in profit or loss

287 -286

11

574 -379

574 -384

Restatements and transfers

-12

-81

-5

Services payable in 2021/transfer of capital upon departures in 2022

-110 -5,395 -2,087 -1,319 -8,911

-126 -9,038

Estimated debt at 31/12/2022

11,737

9,975 110,481

19,166 151,360 1,513 152,873

7.2.11 Reserve for General Banking Risk (RGBR) In accordance with CRBF 90-02, the Reserve for General Banking Risk is intended to remain permanently in capital reserves for comprehensive general coverage of AFD’s risks. Among other things, the Reserve is intended to hedge: P general risks from AFD’s direct activities in the French Overseas Departments and Collectivities; P general risks for real estate holdings in foreign countries.

7.2.12 Subordinated debt In 1998, an agreement was reached with the French State whereby part of AFD’s debt to the French Treasury, corresponding to drawdowns between 1 ɸ January 1990 and 31 ɸ December 1997, was converted into subordinated debt. The agreement also provides for the general rescheduling of the debt’s repayment period over 20 ɸ years with a 10-year grace period, with any new borrowings after 1 ɸ January 1998 recognised as subordinated debt (with a repayment period scheduled over 30 ɸ years and a 10-year grace period). In 2021, a special conditional facility of €225M was granted to AFD and then repaid in advance to the State as part of AFD’s capital increase.

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2021 UNIVERSAL REGISTRATION DOCUMENT