Results for the second quarter and first half 2021

CAGROUP CA AND CREDIT AGRICOLE S.A. STATED AND UNDERLYING DATA Q2-2021
Robust commercial activity, sharp rise in earnings, high levels of profitability

CRÉDIT AGRICOLE GROUP

CRÉDIT AGRICOLE S.A.

Stated

Underlying

Stated

Underlying

Revenues

€9,304m

+14.9% Q2/Q2

€9,295m

+8.9% Q2/Q2

€5,819m

+18.8% Q2/Q2

€5,829m

+12.4% Q2/Q2

Costs excluding SRF

-€5,536m

+9.9% Q2/Q2

-€5,504m

+9.4% Q2/Q2

-€3,253m

+9.2% Q2/Q2

-€3,221m

+8.3% Q2/Q2

Gross operating income

€3,756m

+27.2% Q2/Q2

€3,779m

+11.2% Q2/Q2

€2,554m

+39.0% Q2/Q2

€2,596m

+21.9% Q2/Q2

Cost of risk

-€470m

-61.1% Q2/Q2

-€445m

-63.1% Q2/Q2

• €279m

-66.8% Q2/Q2

-€254m

-72.0% Q2/Q2

Net income Group share

€2,770m

+86.8% Q2/Q2

€2,367m

+32.6% Q2/Q2

€1,968m

x2.1 Q2/Q2

€1,615m

+46.0% Q2/Q2

C/I ratio (excl. SRF)

59.5%

-2.7 pp Q2/Q2

59.2%

+0.3 pp Q2/Q2

55.9%

-5.0 pp Q2/Q2

55.3%

-2.1 pp Q2/Q2

Crédit Agricole S.A. STATED DATA Q2 2021 highest level since 2007

Stated result x2.1 Q2/Q2, including +€353 million in specific items (of which +€925 million CreVal gross badwill)

UNDERLYING DATA
Underlying net income up sharply: +46.0% Q2/Q2 to €1,615 million; +30% vs pre-crisis level

Gross operating income: +21.9% Q2/Q2: increase in revenues related to sustained activity and a positive market effect, increase in expenses related to the recovery and scope effect (+3.6% Q2-21/Q2-19, excluding scope effect)

Cost of risk at 41 bp over four rolling quarters, coverage ratio up

PROFITABILITY

Positive jaws effect, improvement in cost/income ratio: 55.3% (-2.1 pp Q2/Q2);

Underlying H1-21 RoTE at 13,6%^[1], 2,6 pp above the average of 10 major European banks for the past five years

Constantly renewed organic growth potential (insurance equipment rate up)

Very strong capital position at Group level

CRÉDIT AGRICOLE GROUP

CRÉDIT AGRICOLE S.A.

Phased-in CET1

17.3%

stable June/March

12.6%

-0.1 June/March

+8.4 pp above SREP requirements

+4.7 pp above SREP requirements

In EBA stress tests adverse scenario, CET1 at the top level of European G-SIBs

Application made for a second share buyback of up to €500 million in
Q4-21

Strong stance taken by all business lines for a low-carbon economy and to include the young

CRÉDIT AGRICOLE GROUP

CRÉDIT AGRICOLE S.A.

Joins the Net Zero Banking Alliance initiatives

Announces of a €25 million plan for the young

#1 provider of renewable energy financing in France

#1 responsible investor in Europe

HIGHLIGHTS Ongoing development initiatives in Europe

• Crédit Agricole Italia: following the successful takeover bid for CreVal, first-time consolidation in Q2-21 (+€98 million in revenues, +€65 million in expenses, +€7 million in earnings).
  • Gross badwill of +€925 million for this quarter, against which was charged an initial estimate of provisions, before a final purchase price allocation before end 2021, in the amount of -€547 million including loan portfolio revaluations
• Amundi: signature of a framework agreement for the acquisition of Lyxor, ahead of schedule, with completion expected by end 2021

• Ramping-up of Amundi Technology