AFD // 2021 Universal Registration Document

ADDITIONAL INFORMATION 9

Appendix 3 – AFD income statement using French standards (simplified)

9.7 Appendix 3 – AFD income statement using French standards (simplified)

AFD simpli fi ed income statement 2020-2021 Expenses (in millions of euros) 2021 2020 Change Income

2021 2020 Change 1,403 1,560 -157 898 907 -9 650 725 -75 -2 127 -128 -4 -34 31 -75 -105 30 3 6 -3 -67 -64 -3

Expenses on borrowings

1,001 1,166 -165 Income on loans and guarantees

P Interest and commissions on loans and guarantees

P Interest on borrowings P Expenses on swaps

450 502 -52

561 651 -90 P Income on swaps

P Net foreign exchange balance

-10 13 -24 P Net provisions for unpaid interest

P Loss of interest income

P Net provisions for sovereign outstandings P Recoveries on subsidy account for SAL and mixed loan-grants

P Repayment of Proparco margin

Subsidies

246 238

8

Investment income

-2 2 -5

Income from equity investments Commissions on operations P AFD fees, donations, ɸ SAS, SAL, C2D

2 1 105 103 80 74

1 2 7

P Other commissions

25 29 -4 79 80 -1 1 1 -1

Miscellaneous financial expenses Expenses on IMF-PRGF transaction TOTAL EXPENSES ON BANKING OPERATIONS

37 11 26 Ancillary income and miscellaneous

1 1

0 Income from IMF-PRGF transaction

1,039 1,178 -140 TOTAL INCOME ON BANKING OPERATIONS 1,833 1,985 -152

Net of income from IMF-PRGF transaction 1,038 1,177 -139 Net of expenses on IMF-ESAF transaction

1,832 1,983 -151

Net banking income

794 806 -12 475 445 30 334 314 20

Overheads

P Salary and employee benefit expense

wages and bonuses

207 205

2

social security contributions and expenses taxes and similar payments on remuneration provisions for retirement – employee benefits profit sharing

85 83 10 9

2 1

23 19

5

13 7 -4 -8 7 7

6 4 0

rebilling banks’ staff

P Taxes and similar payments P Other general expenses

133 123 10

Depreciation/amortisation and impairment of property, plant, equipment and intangible assets (net) 3 Total expenses on non-banking operations 502 469 33 Gross operating income 292 338 -45 Cost of risk -35 -191 156 Net impairment charges for deduction of capital assets -11 -10 -1 Net provisions for risk and expenses 34 -165 200 Capital losses on bad debts -59 -15 -43 Operating income 257 146 111 Gains or losses on fixed assets -19 -40 21 Income from operations 239 107 132 Net exceptional transactions 1 -1 2 NET INCOME 240 106 134 27 24

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2021 UNIVERSAL REGISTRATION DOCUMENT