BPCE - 2018 Registration document

2 NON-FINANCIAL PERFORMANCE REPORT

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Four CAC 40-listed companies use Ecofi Investissements for their solidarity-based and SRI employee savings plans: Schneider Electric, Orange, AXA and Renault. Banque Palatine’s SRI approach By incorporating ESG criteria in the analysis and investment choices of three SRI-certified thematic funds (Palatine Or Bleu, Palatine Actions Défensives Euro, Palatine Entreprises Familiales ISR), Banque Palatine is better able to identify the risks and opportunities associated with a given company, but also to combat global warming (management of climate-related risks and funding of the green economy). Since 2017, all three funds have held the new government-recognized SRI certification, replacing the certification created by Novethic, which they had held since 2009. SRI equity investments are set to rise to account for around 10% of total assets under management invested in equities by the end of 2020.

In 2018, Ecofi Investissements finalized the overhaul of its SRI process for companies and governments, which was effective from the start of January 2019. The new process, which will be applied to all of Ecofi Investissements’ assets under management (1) , follows three principles: exclusion of tax havens and sector exclusions (gambling, tobacco production, coal extraction and coal energy production), stock-picking based on ESG performance and management of controversial companies. Ecofi Investissements also offers a full range of solidarity-based products, open-ended “90/10” funds, multi-company and dedicated company investment funds, and funds with thematic strategies applied to the solidarity-based allocation. With assets under management totaling € 386 million, Ecofi Investissements now one of the leaders on the solidarity-based investment market by the number of solidarity-based companies financed. At December 31, 2018 it had financed 77 solidarity-based companies, for a total of € 40.5 million.

ASSETS UNDER MANAGEMENT IN OPEN-ENDED AND DEDICATED SRI/RESPONSIBLE AND SOLIDARITY-BASED FUNDS ➡ AND EMPLOYEE SAVINGS PLANS (1)

Change 2017-2018

2018 54.1

Indicator (in billions of euros)

2017 10.5

2016 10.6

Ostrum AM

415% (2)

Mirova

10

9

6.6 5.6

11%

Ecofi Investissements

3.9

5.7

(31%) 120%

Banque Palatine

0.07 0.5 (3)

0.03 N/A N/A

0.03 N/A N/A

DNCA

N/A N/A

Seeyond

0.65 (3)

TOTAL ASSETS UNDER MANAGEMENT IN OPEN-ENDED AND DEDICATED SRI AND SOLIDARITY-BASED FUNDS AND EMPLOYEE SAVINGS PLANS

69.22

25.23

22.83

174%

For more details, see note on methodology under “Societal indicators”. (1) Ostrum AM’s insurance clients are much more SRI-oriented in their investment processes, setting out investment rules (sector exclusion policies, minimum ratings, benchmarks). These assets are (2) now recorded as SRI assets under management, which explains the sharp increase in these assets in 2017-2018. Also, the Ostrum Trésorerie fund was converted to an SRI fund (new prospectus filed with the AMF, fund certification process in progress). Year of inception. (3)

ASSETS UNDER MANAGEMENT IN SRI/RESPONSIBLE AND SOLIDARITY-BASED FUNDS AS A SHARE OF TOTAL ASSETS UNDER ➡ MANAGEMENT

Change 2017-2018

2018 21%

2017

2016

Indicator (as a %)

Ostrum AM

5.6% 100% 64.9%

4.95% 100% 66.5%

275%

Mirova

100% 57.9%

0%

Ecofi Investissements

(11%) 202%

Banque Palatine

2.1%

0.7%

0.7%

N/A N/A

N/A N/A

N/A N/A

DNCA

2.2% (1)

Seeyond

8% (1)

(1)

Year of inception.

Excluding mandates, dedicated funds, delegated management funds, indexed funds, specialized professional funds (FPS) and SME funds. (1)

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Registration document 2018

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