AFD // 2021 Universal Registration Document

AFD’S ANNUAL PARENT COMPANY FINANCIAL STATEMENTS Notes to the financial statements at 31 December 2021

NOTE 34 Valuation of forward financial instruments excluding IMF transactions by issuer rating (1)

31/12/2021 valuation (2)

31/12/2020 valuation (2)

Banking counterparty rating

AAA

-

-

AA

345,796 29,367 -31,474

343,504 572,209 -28,525

A

BBB

NR

-

-

TOTAL 887,188 (1) Counterparty risk on derivatives related to the financing of IMF transactions is covered by the overall guarantee granted to AFD by the French State for this purpose. (2) Replacement cost is represented by the net gain on market values, including accrued interest. If the balance is negative, the cost is zero. 343,689

NOTE 35 Investments held inmanaged funds (1)

Number of equity

Fund source

investments Purchase price

Caisse d’investissement des DOM (CIDOM)

2 4 2 2

1,330

Fonds d’investissement et de dévelop. économique et social (FIDES)

630

Fonds d’investissement des DOM (FIDOM)

93

Other State resources

3,683

TOTAL

10

5,736

(1) This information does not appear in the publishable off-balance sheet.

NOTE 36 Executive compensation Gross annual compensation allocated to corporate officers is €340,832.

NOTE 37 Corporate income tax Only income from property and from representing mainland credit institutions in the French Overseas Departments, as well as AFD’s refinancing activity with regard to its Proparco subsidiary, are subject to corporation tax.

7

NOTE 38 Risk exposures AFD operates on its own behalf in forward financial markets as part of its own activities and those delegated to it by the French State. These transactions are undertaken within the limits authorised by Executive Management with the agreement of the Board of Directors.

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2021 UNIVERSAL REGISTRATION DOCUMENT