BIC - 2020 Universal Registration Document

FINANCIAL STATEMENTS

Consolidated financial statements

Impact of interest rate and foreign exchange risk hedging on the consolidated financial statements 24-5 as of December 31, 2019

The following amounts have been booked as the fair value of derivatives as of December 31, 2019 (in thousand euros):

Net financial Income/ (expense) before tax – Note 6

Other comprehensive income before tax (a)

Hedge income qualification/ hedged risk

Income from operations – Note 4

Derivative instruments and revaluation

Current assets (b)

Non-current assets

Current Liabilities

Non-current Liabilities

Hedging revaluation impact

Cash flow hedge/Foreign exchange risk Net investment/Foreign exchange risk

Commercial flows

-

822

(1,808)

2,560

220 (6,009)

(7)

Dividends

-

-

2,681

-

-

(1,250)

(37)

Subtotal (1)

-

822

872

2,560

220 (7,259)

(44)

Revaluation of cross-currency swaps backed by cash positions in foreign currencies

At fair value through P&L/Foreign exchange risk

Subtotal (2)

(147)

-

-

138

-

(211)

-

TOTAL (1)+(2) (44) This corresponds to mark-to-market of hedging instruments in the portfolio at December 31, 2019, restated for the reversal of the mark-to-market of the portfolio of hedging a) instruments as of December 31, 2018. Including options not yet exercised held by SOCIÉTÉ BIC representing current assets for 926 thousand euros. (b) (147) 822 872 2,698 220 (7,470)

24-6

Portfolio of foreign exchange risk hedges as of December 31, 2020

To cover its future cash flows, the BIC Group had the following hedges as of December 31, 2020:

Maturity

Hedge

Forward

Currency Purchase of options

Sale of options

Currency

2021

USD/EUR

310,083,000

USD

5,000,000

7,500,000

USD

USD/CAD

18,000,000

USD

8,000,000

8,500,000

USD

USD/AUD

6,000,000

USD

2,000,000

2,500,000

USD

GBP/EUR

14,000,000

GBP

8,000,000

9,000,000

GBP

AUD/EUR

22,000,000

AUD

6,000,000

6,500,000

AUD

CHF/EUR

2,000,000

CHF

4,000,000

5,000,000

CHF

EUR/MXN

5,000,000

EUR

-

-

-

JPY/EUR

900,000,000

JPY

300,000,000

350,000,000

JPY

CAD/EUR

8,000,000

CAD

7,000,000

10,500,000

CAD

NZD/EUR

4,000,000

NZD

4,000,000

4,500,000

NZD

PLN/EUR

4,000,000

PLN

27,000,000

27,000,000

PLN

RON/EUR

20,000,000

RON

-

-

-

SEK/EUR

26,500,000

SEK

-

-

-

USD/NZD

1,000,000

USD

-

-

-

2022

USD/CAD

2,000,000

USD

-

-

-

261

• BIC GROUP - 2020 UNIVERSAL REGISTRATION DOCUMENT •