BPCE - 2020 Universal Registration Document

FINANCIAL REPORT

IFRS CONSOLIDATED FINANCIAL STATEMENTS OF GROUPE BPCE AS AT DECEMBER 31, 2020

Natixis will no longer sit on Coface's Board of Directors as Arch takes over its four former seats. Natixis retains a residual 12.7% stake in Coface as an equity interest. This transaction has no impact on the Group's consolidated financial statements at December 31, 2020. THE FINANCIAL STATEMENTS The impact of the health crisis on Groupe BPCE’s consolidated financial statements is described in the following paragraphs and in Credit Risk section of Pillar III. 1.5.1 On March 15, 2020, before the announcement of the lockdown in France, the French Banking Federation (FBF), confirmed that French banks were fully committed to supporting customers – in particular retailers, self-employed professionals, and SMEs – facing difficulties due to the spread of the Covid-19 epidemic, which could impact their business. Accordingly, Groupe BPCE helped its professional and business customers who were facing cash flow problems by actively implementing the economic support measures set up by the government: granting moratoria on loan repayments for businesses, • without penalties or additional fees, issuing State-guaranteed loans. • The measures taken to support the economy in fiscal year 2020 are described below. Information on loans and advances subject to moratorium is presented in Pillar 3. State-guaranteed loans 1.5.1.1 The State-guaranteed loan (SGL) is a support scheme set up under Article 6of the amendedFrench FinanceAct for 2020 (Act No. 2020-289of March 23,2020) and the ministerialorder issued by the Minister of the Economy and Finance on March 23, 2020 establishinga state guaranteefor credit institutionsand financing companies from March 16, 2020, to meet the cash flow requirements of companies impacted by the Covid-19 health crisis. The measure was extended until June 30, 2021 by the 2021 French FinanceAct. The State-guaranteedloan is subject to common eligibility criteria applicableby all institutionsissuing the loan, as set out by law. It is a one-year loan with capital repayments deferred for this period. Beneficiary companies may decide, at the end of the first year, to amortize the State-guaranteed loan over a further one to five years or to begin capital amortization only from the second year of the amortization period by only paying the interest and the cost of the State’s guarantee. For eligible companies, the amount of the State-guaranteedloan is generally capped at 25% of the company’s turnover (excluding innovative and recently created companies, and excluding the Seasonal SGL for our Tourism/Hotels/Restaurants clients, for example). The government provides a guarantee covering between 70% and 90% of the loan, depending on the size of the company. The issuing bank incurs the residual risk. The state guarantee covers a portion of the total amount due on the loan (principal, interest and incidental expenses) until it becomes due. The State guarantee may be enforced before the loan is due if a credit event should occur. ECONOMIC SUPPORT MEASURES IMPACT OF THE HEALTH CRISIS ON 1.5

Furthermore, LBP AM has a put option granted by Natixis on all the shares it holds. An €80 million non-controlling shareholder put option was therefore booked under liabilities at December 31, 2020. DISPOSAL OF FIDOR GROUP SOLUTIONS AND PROPOSED DISPOSAL OF FIDOR BANK In the first half of 2020, Groupe BPCE performed an in-depth strategic review of its holding in Fidor group. As of June 30, 2020, insofar as pursuing Fidor’s activity no longer seemed feasible within Groupe BPCE, it was deemed that the conditions required to apply IFRS 5 were met. As a result, all the assets and liabilities of Fidor Bank AG and Fidor Solutions were reclassified to "Non-current assets held for sale" and "Liabilities associated with non-current assets held for sale" on the consolidated balance sheet. In accordance with IFRS 5, these assets were measured at the lower of their book value and fair value net of selling costs, and a loss on disposal estimated at €141 million was provisioned, with a balancing entry in "Gains or losses on other assets". On August 3, 2020, Groupe BPCE announced it had was entering into exclusive negotiations with Ripplewood Advisors LLC for the sale of the entire share capital of Fidor Bank AG. Closure of this deal is planned for the first half of 2021, pending regulatory authorizations. On December 31, 2020, Groupe BPCE finalized the sale of its subsidiary Fidor Solutions to Sopra Banking Software, a subsidiary of the Sopra Steria group, with no additional impact on consolidated income. On February 9, 2021, BPCE SA announced its intention to acquire the share capital of Natixis SA that it did not hold, i.e. approximately 29.3% at December 31, 2020, and to file a simplified tender offer with the French Financial Markets Authority (AMF). This proposed takeover bid, at a price of €4 per share ( cum dividend), will be submitted to the AMF for review and will, if necessary, be followed by a squeeze-out if the conditions for its implementation are met. The takeover, done with Natixis's non-controlling shareholders has no impact on the control already exercised by BPCE SA and should lead to an overall reduction in equity, under IFRS 3, resulting in an estimated -70 bp reduction in the CET1 ratio. This transaction has no impact on Groupe BPCE's consolidated financial statements at December 31, 2020. NATIXIS AND ARCH CAPITAL GROUP LTD. ANNOUNCE THE SALE OF 29.5% OF COFACE On February 10, 2021, following approval by the competent competition and regulatory authorities, Natixis and Arch Capital Group Ltd. announced the sale by Natixis of a 29.5% stake in Coface to Arch Financial HoldingsEurope IV Limited, a subsidiary of Arch Capital Group Ltd. for €9.95 per share ( cum dividend). POST-BALANCE SHEET EVENTS 1.4 FILING OF A SIMPLIFIED PUBLIC TENDER OFFER FOR NATIXIS SHARES

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UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE