BPCE - 2019 Universal Registration Document

BPCE MANAGEMENT REPORT FINANCIAL REPORT

INFORMATION CONCERNING COMPANY DIRECTORS Information concerning company directors is provided in Chapter 3. List of directorships and offices Information concerning the list of directorships and offices of company directors is provided in Chapter 3. Remuneration and benefits Information concerning remuneration and benefits granted by BPCE to the company directors is provided in Chapter 3. Related-party agreements No corporate officer or shareholder holding more than 10% of the voting rights signed any agreement in 2019 with a company in which BPCE holds, either directly or indirectly, more than half of the share capital or with a company controlled by BPCE within the meaning of Article L. 233-3 of the French Commercial Code. Information concerning commitments and related-party agreements is provided in Chapter 7. INFORMATION REGARDING OWNERSHIP OF SHARE CAPITAL Information concerning the ownership of the share capital is provided in Chapter 7. INFORMATION REGARDING INACTIVE ACCOUNTS (ARTICLES L. 312-19, L. 312-20 AND R. 312-21 OF THE FRENCH MONETARY AND FINANCIAL CODE) As BPCE holds no individual current accounts it is not affected by these articles. TRANSFERS AND SALES OF SHARES In March, the statutory adjustment of the shareholding structure of Caisse de Refinancement de l’Habitat led to the deconsolidation of €815,000 in shares. In April, the holding in IXION was absorbed via a total transfer of assets and liabilities, resulting in the recognition of a loss of €9 million, which was offset by a provision reversal for the same amount. In May, BPCE sold its shares in BPCE IARD for €35,000. It sold its shares in Technology Shared Services Pacifique for €44,000. TRADING BY BPCE IN ITS OWN SHARES In 2019, BPCE did not trade in its own shares.

In August, 3F Holding, whose shares were recorded in the amount of €370 million, was absorbed through a total transfer of assets and liabilities. Société de Financement de l’Économie Française (SFEF) was wound up in December for €40,000. RESEARCH AND DEVELOPMENT ACTIVITIES BPCE’s research and development activities chiefly focus on modeling credit risks. MANAGEMENT OF FINANCIAL RISKS Information relating to the management of financial risks is provided in Chapter 6. MAIN RISKS Information relating to the main risks and uncertainties facing BPCE is provided in Chapter 6. HARDSHIPS The hardships encountered in 2019 were linked to the economic and financial environment described in point 4.2.1 of Chapter 4. SOCIAL, ENVIRONMENTAL AND SOCIETAL INFORMATION This information is provided in Chapter 2. INFORMATION RELATING TO THE CONTROL OF ACCOUNTING AND FINANCIAL REPORTING QUALITY This information is provided in Chapter 5.8. POST-BALANCE SHEET EVENTS In light of the spread of Covid-19, economic activity would now appear to be on the path to recession, amid heightened uncertainty at least for the first half in many countries. In particular, mobility restrictions in affected areas, the clear impact of a prolonged economic disruption on value chains, and the spread of the health crisis to the service sector (tourism revenues, air travel, local sales, etc.) have set the stage for weakened economic conditions at least for the first half of 2020. This could have significant impacts in 2020 as described in the "Risk factors" section of the universal registration document. RECENT DEVELOPMENTS AND OUTLOOK The outlook for the economic environment and recent and forthcoming regulatory changes are described in point 4.7 of Chapter 4.

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UNIVERSAL REGISTRATION DOCUMENT 2019 | GROUPE BPCE