BPCE - 2020 Universal Registration Document

BPCE MANAGEMENT REPORT FINANCIAL REPORT

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 2020 were linked to the economic and financial environmentdescribed in point 4.2.1 of Chapter 4. SOCIAL, ENVIRONMENTAL AND SOCIETAL INFORMATION This information is provided in Chapter 2. INFORMATION CONCERNING THE CONTROLS OF ACCOUNTING AND FINANCIAL REPORTING QUALITY This information is provided in Chapter 5.8. EVENT AFTER THE REPORTING PERIOD Filing of a simplified public tender offer for Natixis shares 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 €4.00 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. This proposed bid will have no impact on the control already exercised by BPCE over Natixis. In accordance with the principles presented in Note 4.4 to the annual financial statements, BPCE examined the impact of this proposed offer on the determination of the value in use of Natixis used in the financial statements at December 31, 2020 and considered that this transaction did not call into question the value retained. BPCE’s equity investments are measured at value in use. The value in use takes into account the specific situation of BPCE, the fact that these investments belong to the Groupe BPCE and their integration within the solidarity mechanism, their strategic interest for BPCE and the fact that they are held with a long-term objective. They are based in particular on technical parameters based on a vision of long-term ownership and Group affiliation and not on valuation parameters. 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.

EMPLOYEE PROFIT-SHARING SCHEME Information concerning employee share ownership is provided in Chapter 7. 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 2020 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. 233-3of 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 ON 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 November, the stake in GCP ASAP was absorbed via a total transfer of assets and liabilities, resulting in the recognition of a loss of €11 million, which was offset by a provision reversal for the same amount. In December, merger by absorption of the company Holassure following the favorable agreement of the ACPR to the crossing of the 10% threshold in the share capital of CNP Assurances by BPCE. RESEARCH AND DEVELOPMENT ACTIVITIES BPCE’s research and development activities chiefly focus on modeling credit risks. TRADING BY BPCE IN ITS OWN SHARES In 2020, BPCE did not trade in its own shares.

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UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE