AFD - Universal Registration Document 2020

PRESENTATION OF AFD AFD Group

Over the past six years, AFD has had a solid investor base in France (13% in 2020) and in Europe (47% in 2020). This investor base is also supplemented by international players in Asia, America and the Africa, Middle East region. This geographical diversity goes hand-in-hand with the type of investors. The last graph also shows that the share of banking investors, after having fallen slightly (26% in 2016, 19% in 2018) following the change of AFD’s banking license in 2017, rose significantly in 2020 (26%); these investors participate heavily ingreen, social orsustainable bond issues, themes representing 30% of AFD’s

volumes in 2020. The share of official institutions also continued to grow, with the increase in AFD’s borrowing programme increasing their participation, notably in liquidity tap issues. Lastly, since mid-2018 we can see that AFD’s spread has normalised and is back in line with that of its closest peers. Naturally, AFD’s spread has evolved in line with the health, economic and financial crisis during 2020, in the same way as its counterparts. It should be noted that at the end of 2020 the spread returned to its levels of the beginning of the year.

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1.5 AFD Group

1.5.1 Scope of consolidation As part of its mission to finance development, AFD holds equity stakes in companies or organisations in the geographic areas in which it is active, i.e. foreign countries and the French Overseas Departments and Collectivities. The percentages of ownership and of voting rights shown below represent both direct and indirect investments.

Percentage of ownership 31/12/2020

Percentage of ownership 31/12/2019

Percentage of ownership 31/12/2018

Percentage of control 30/09/2020

Percentage of control 31/12/2019

Percentage of control 31/12/2018

Country

Method (1)

France Mainland France Proparco

France

FC FC

78.19 60.00

74.18 60.00

64.95 60.00

78.19 58.69

74.18 58.69

64.95 58.69

Sogefom France

Fisea

France

FC 100.00

100.00

100.00

100.00

100.00

100.00

French Overseas Departments and Collectivities Soderag France - Guadeloupe

FC 100.00

100.00

100.00

100.00

100.00

100.00

France - New Ǿ Caledonia

SIC

EM 50.00

50.00

50.00

50.00

50.00

50.00

Simar

France - Martinique France - Polynesia

EM

Socredo

EM 35.00

35.00

35.00

35.00

35.00

35.00

(1) FC: Full consolidation - EQ: Equity method. AFD Group - Scope of consolidation at 31 Ǿ December 2020 Details of the consolidation scope are shown in Section Ǿ 6.2.3.1.1. 1.5.2 Information about subsidiaries The information below (company data in accordance with French accounting standards) sets out the principal data relating to the subsidiaries which are fully consolidated into the financial statements of AFD. PROPARCO (SOCIÉTÉ DE PROMOTION ET DE PARTICIPATION POUR LA COOPÉRATION ÉCONOMIQUE) Purpose: To promote development projects, acquire equity investments and grant loans in the regions in which AFD is mandated to operate Legal form: Public limited company ( société anonyme - société financière ) Head office: 151 rue Saint-Honoré, 75001 Paris Share capital: €984,373,280 (excluding issue premium)

AFD’s stake: 78.19% Other shareholders: French banks (9.81%), private investors (1.37%), international financial institutions (10.03%), ethical

foundations and funds (0.60%) Balance sheet total: €6,410M Total net equity: €1,094.5M

Equity investments: €1,100.1M Gross outstandings: €4,668.1M Net banking income: €147.8M SOGEFOM (SOCIÉTÉ DE GESTION DES FONDS DE GARANTIES D’OUTRE-MER) Purpose: To provide a partial guarantee for financing operations undertaken by credit institutions operating in the French Overseas Departments and Collectivities and having subscribed to a portion of its capital or having received approval from its Board.

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2020 UNIVERSAL REGISTRATION DOCUMENT