AFD // 2021 Universal Registration Document

AFD’S ANNUAL PARENT COMPANY FINANCIAL STATEMENTS Statutory auditors’ report on the financial statements

We considered the valuation of long-term investments to be a key audit matter, given ɸ : P the significant impact of the choice of the valuation method on AFD’s results ɸ ; P the sensitive nature of the parameters used for Management’s assumptions ɸ ; P the significance of those amounts in the financial statements. As at December 31, 2021, AFD’s long-term investments net value is €1 ɸ 055 ɸ million as indicated in Notes ɸ 5 and 6 to the annual financial statements. AUDIT PROCEDURES IMPLEMENTED IN RESPONSE TO RISKS IDENTIFIED In this context, our work consisted of ɸ : P updating our knowledge and then testing the effectiveness of the control system for the determination of the valuation method used for these investments ɸ ; P testing, on a sample basis, the correct application of the valuation method of investments. To this purpose, we verified the appropriateness of the accounting methods used by Agence Française de Développement and ensured that they were correctly applied. We also performed the following substantive procedures ɸ : P verifying the accounting / management reconciliation for the equity portfolio ɸ ; P reconciling, on the basis of sampling, the valuation of securities with the external documentation that justified it ɸ ; P reviewing all securities with an objective indicator of impairment to ensure the accuracy and completeness of the recorded impairments. Speci fi c veri fi cations In accordance with professional standards applicable in France, we have also performed the specific verifications required by French legal and regulatory provisions. INFORMATION GIVEN IN THEMANAGEMENT REPORT AND IN THE OTHER DOCUMENTS PROVIDED TO THE BOARD OF DIRECTORSWITH RESPECT TO THE FINANCIAL POSITION AND THE FINANCIAL STATEMENTS We have no matters to report as to the fair presentation and the consistency with the financial statements of the information given in the management report of the board of directors and in the other documents provided to the members of the board of directors with respect to the financial position and the financial statements, with the exception of the following matter. The sincerity and consistency of the information relating to the payment terms mentioned in Article ɸ D.441-6 of the French Commercial Code (Code de Commerce) with the financial statements lead us to report the following observation ɸ : as indicated in the management report, this information does not include banking operations, as your company considers that they do not fall within the scope of the information to be produced. We attest that the non-financial statement provided for by article ɸ L. ɸ 225-102-1 of the French Commercial Code (Code de commerce) is included in the management report, it being specified that, in accordance with the provisions of article ɸ L. ɸ 823-10 of said Code, we have verified neither the fairness nor the compliance with the annual accounts of the information contained in this statement and which are subject to a report of an independent third-party. INFORMATIONWITH RESPECT TO THE CORPORATE GOVERNANCE We attest the existence, in the Management Report section on corporate governance, of information required by articles ɸ L. ɸ 225-37-3 and L. ɸ 225-37-4 of the French Commercial Code (Code de commerce). Other veri fi cations and information pursuant to legal and regulatory equirements PRESENTATION OF THE FINANCIAL STATEMENTS TO BE INCLUDED IN THE ANNUAL FINANCIAL REPORT We have also verified, in accordance with the professional standard applicable in France relating to the procedures performed by the statutory auditor relating to the annual and consolidated financial statements presented in the European single electronic format, that the presentation of the financial statements intended to be included19 in the annual financial report mentioned in Article ɸ L.451-1-2, ɸ I of the French Monetary and Financial Code (code monétaire et financier), prepared under the responsibility of Chief Executive Officer, complies with the single electronic format defined in the European Delegated Regulation No 2019/815 of 17 December 2018. Based on the work we have performed, we conclude that the presentation of the financial statements intended to be included in the annual financial report complies, in all material respects, with the European single electronic format.

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2021 UNIVERSAL REGISTRATION DOCUMENT