Results for the fourth quarter and full year 2021

 Crédit Agricole Q4-21 and 12M-21 RESULTS

             2022 MTP targets reached in 2021, one year ahead of schedule

CRÉDIT AGRICOLE GROUP

CRÉDIT AGRICOLE S.A.

Stated

Underlying

Stated

Underlying

Revenues

€36,822m

+9.6% 12M/12M

€36,730m

+7.9% 12M/12M

€22,657m

+10.5% 12M/12M

€22,651m

+9.1% 12M/12M

Costs excl. SRF

-€22,602m

+6.3% 12M/12M

-€22,255m

+5.1% 12M/12M

-€13,429m

+7.8% 12M/12M

-€13,082m

+5.8% 12M/12M

GOI

€13,741m

+16.8% 12M/12M

€13,812m

+12.3% 12M/12M

€8,836m

+16.1% 12M/12M

€9,047m

+13.7% 12M/12M

Cost of risk

-€2,193m

-39.9% 12M/12M

-€1,849m

-49.4% 12M/12M

-€1,576m

-39.5% 12M/12M

-€1,232m

-52.7% 12M/12M

Net income Group share

€9,101m

+94.1% 12M/12M

€8,512m

+38.9% 12M/12M

€5,844m

x2.2 12M/12M

€5,397m

+40.2% 12M/12M

C/I ratio (excl. SRF)

61.4%

-1.9 pp 12M/12M

60.6%

-1.6 pp 12M/12M

59.3%

-1.5 pp 12M/12M

57.8%

-1.8 pp 12M/12M

STRONG HIKE IN CASA Q4-21 AND 12M RESULTS ACROSS ALL BUSINESS LINES

Reported net income €1,428m in Q4, €5,844m in 2021

Underlying income +47.2% Q4/Q4 to €1,435m, +40.2% 12M/12M to €5,397m

Dynamic activity, +1.7 million new retail banking customers in 2021, equipment rate up

Revenues +9.1% Q4/Q4, positive jaws Q4 and 12M

Cost/income ratio excluding SRF 57.8% in 2021 (-1.8 pp 12M/12M),

Prudent provisioning of performing loans maintained against a backdrop of macro uncertainties.

PROFITABILITY AND CAPITAL POSITION AMONG BEST IN THE SECTOR IN EUROPE

CRÉDIT AGRICOLE GROUP

CRÉDIT AGRICOLE S.A.

CET1phasé

17.5%

+10 bp Dec/Sept

11.9%

-80 bp Dec/Sept

+8.6 pp above SREP requirements

+4.0 pp above SREP requirements

ROTE CASA 13.1%^[1] in 2021. At least 2.6 pp above the average of 10 major European banks for the past five years

2021 DIVIDEND: €1.05 per share (€0.85 : 50% pay-out policy; €0.20 : 2019 dividend catch-up)

2022 MTP FINANCIAL TARGETS REACHED IN 2021

CASA net income Group share^[2] €5.4bn > €5bn; CASA cost/income ratio^[3]57.8% < 60%;

Crédit Agricole SA ROTE¹ 13.1% > 11%;

CASA CET1 11.9% > 11%; CAG CET1 17.5% > 16%

50% dividend distribution throughout the span of the MTP

UNWINDING OF 100% OF SWITCH IN 2021

Strength of our Group Project

• Amplification of the universal customer-focused banking model: digital and empowered local teams
• Strong societal commitments for energy transition and social cohesion
• Continued organic growth potential, expansion of the partnership model (8 new strategic partnerships since the start of the MTP)
• Strategic flexibility over the span of the MTP (€4.3bn in acquisitions, €2.3bn in disposals)
• European ambitions on mobility (CACF/Stellantis agreement in 2023)

The Group will present its new 2025 development plan on 22 June 2022