BPCE - 2018 Registration document

FINANCIAL REPORT IFRS Consolidated Financial Statements of BPCE SA group as at December 31, 2018

ORDINARY SHARES AND EQUITY INSTRUMENTS ISSUED 5.15

Accounting principles Financial instruments issued by the Group qualify as debt or equity instruments depending on whether or not the issuer has a contractual obligation to deliver cash or another financial asset to the holder of the instrument, or to exchange the instrument under conditions that are potentially unfavorable to the Group. This obligation must arise from specific contractual terms and conditions, not merely economic constraints. In addition, when an instrument qualifies as equity: its remuneration is treated as a dividend and therefore impacts equity along with the tax relating to this remuneration; ● it cannot be an underlying instrument eligible for hedge accounting; ● if the issue is in a foreign currency, the instrument is fixed at its historical value resulting from its conversion to euros at its initial date of ● transfer to equity. Finally, when these instruments are issued by a subsidiary, they are included in “Non-controlling interests”. When their remuneration is of a cumulative nature, it is charged to “Income attributable to equity holders of the parent” and increases the income of “Non-controlling interests”. However, when their remuneration is not of a cumulative nature, it is drawn from retained earnings attributable to equity holders of the parent.

Nominal (in millions of euros (1) )

Amount (in original currency)

Redemption option date

Interest step-up date (2) September 30, 2019 September 30, 2019 November 30, 2023

12/31/2018

Issuing entity

Issue date August 6, 2009 August 6, 2009

Currency

Rate

01/01/2018

September 30, 2019 September 30, 2019 November 30, 2023

BPCE

EUR 374 million

12.50%

374

374

5

BPCE

USD 444 million

12.50%

309

309

November 30, 2018

BPCE

EUR 700 million

5.35%

700

TOTAL

1,383

683

Nominal amount translated into euros at the exchange rate in force at the date of classification as equity (1) Interest step-up date or date of transition from fixed to variable rate (2)

Issues of perpetual deeply subordinated notes are recognized in equity due to the discretionary nature of their remuneration.

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Registration document 2018