#1Investor Presentation | November 2020 Amundi, the European leader in asset management Confidence must be earned Amundi CRÉDIT AGRICOLE GROUP#2This presentation concerning may contain projections Amundi's financial situation The figures provided do not constitute a "forecast" as defined in Commission Delegated Regulation (EU) 2019/980. and results. This information is based on scenarios that employ a number of economic assumptions in a given competitive and regulatory context. As such, the projections and results indicated may not necessarily come to pass due to unforeseeable circumstances. The reader should take all of these uncertainties and risks into consideration before forming their own opinion. The figures presented were prepared in accordance with IFRS guidelines as adopted by the European Union and applicable as of this date. The information contained in this presentation, to the extent that it relates to parties other than Amundi or comes from external sources, has not been independently verified, and no representation or warranty has been expressed as to, nor should any reliance be placed on, the fairness, accuracy, correctness or completeness of the information or opinions contained herein. Neither Amundi nor its representatives can be held liable for any negligence or loss that may result from the use of this presentation or its contents, or anything related to them, or any document or information to which the presentation may refer. 2 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#3Contents 1 slide 4 Amundi, the European leader in asset management 2 slide 15 Business activity and Financial Review at end September 2020 3 slide 31 Asia, a growth driver for Amundi 4 slide 44 Spain, partnership with Banco Sabadell 5 Strategic roadmap 6 Amundi's ESG ambitions slide 47 slide 51 Appendices business development slide 55 7 Appendices: financial data 8 slide 62 3 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#401 Amundi, the European leader in asset management Amundi Investor presentation | November 2020 4 Amundi CRÉDIT AGRICOLE GROUP#5Amundi today - highlights and key figures #1 European asset manager, in the Top 10 worldwide Strong financial profile 50.9% cost/income ratio² €1,009m net income² Unique industrial model built around 2 core client segments : Retail and Institutionnal A comprehensive product offering: active, passive, real assets, services... Global geographic coverage, with client proximity 6 Global Investment hubs Dublin London Paris Boston Milan AuM breakdown Presence in 37 countries International 46% 54% France Tokyo The European leader with a global scale¹ €1 662bn €1 653bn €1 426bn €1 425bn CAGR 2013-September 2020: +11.6% €1 121bn €1 083bn € 985bn € 878bn € 792bn 31/12/2013 31/12/2014 31/12/2015 31/12/2016 30/06/2017 31/12/2017 31/12/2018 31/12/2019 30/09/2020 IPO Acquisition of Pioneer Acquisition of Sabadell AM Creation of Amundi-BOC WM JV A well diversified client and asset base1-3 CA&SG Insurers Retail CA&SG insurers Equities 6% 16% 28% 40% 16% Multi- Asset 48% 32% Institutional ex CA&SG 14% Bonds Treasury products 1- Assets under management and inflows include 100% of inflows and assets managed by the Asian JVs. For Wafa in Morocco, assets under management are reported on a proportional consolidation basis; 2-2019 figures; Excluding amortization of distribution contracts 3- At 30/09/2020 5 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#6Source: IPE.June 2020 Blackrock Vanguard AM Fidelity Investments 6 Amundi Investor presentation | November 2020 State Street GA Capital Group 6 704 5 625 2 852 2 776 JP Morgan AM 1 833 BNY Mellon IM Amundi ranked #1 in Europe and in the top 10 worldwide €1,662bn AuM as of 30/09/2020 1805 1 709 1 707 1 653 1 500 PIMCO Amundi Goldman Sachs AM Legal & General IM Amundi CRÉDIT AGRICOLE GROUP PGIM Amundi as of 31/12/2019 €bn 1 412 1 382 1 093 1 075 Invesco T. Rowe Price#7Resilient and high profitability in contrasted market (Єm) 413 +2.4% 423 +5.6% +0.9% 427 Accounting Net earnings Group share¹ 451 +19.9% +9.4% 681 +5,9% +8.6% 568 519 490 +25.5% 855 2010 2011 2012 2013 2014 2015 2016 2017 IPO 1. Accounting net income, including amortization of distribution contracts and in 2018 Pioneer integration costs. 7 | Amundi Investor presentation | November 2020 Acquisition of Pioneer +12.2% 959 2018 2019 Amundi CRÉDIT AGRICOLE GROUP#8Amundi Legal & General IM T. Rowe Price BlackRock Jupiter Azimut Allianz AM Invesco Man Group Best in class cost efficiency among global peers 2019 cost income ratio¹ 90,0% 80,0% 81,6% 70,0% 62,3% 62,5% 63,8% 64,2% 64,2% 65,6% 66,6% 67,6% 70,7% 70,8% 72,0% 73,4% 73,8% 74,0% 77,3% 60,0% 53,8% 56,1% 56,3% 57,2% 57,6% 50,9% 50,0% 40,0% 30,0% 20,0% 10,0% 0,0% Natixis AM Janus Henderson Peers Average Amundi demonstrated its ability to deliver resilient earnings since its creation, and enjoys one of the lowest Cost/Income ratios of the industry: 50.9%² Industry average as of Dec. 2018 based on BCG Global Asset Management 2019 study (154 AMs representing $53tn AuM). 1- Source: Company data for 2019, adjusted figures when available. 2. adjusted figure; 2019 8 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP Schroders DWS Crédit Suisse AM UBS AM Axa IM Franklin Templeton Morgan Stanley JPMorgan AM Legg Mason Standard Life Aberdeen#9A leadership position in 4 key European markets ▶ 6 global investment hubs and 11 local investment centers operating in the major financial places A local network allowing a true client proximity 9 Amundi Investor presentation | November 2020 AuM and market positioning in key European countries as of 30/09/2020 France €892bn Italy €171bn 1 2* Germany €57bn Top 3 Spain €39bn 4 foreign player .Source: Assogestioni and BVI (August 2020) / Invercos (June 2020) and Amuundi as of 30/06/2020 * on open ended funds. Amundi CRÉDIT AGRICOLE GROUP#10A well diversified client and asset base Breakdown of AuM1 by client segment (30/09/2020) Institutional excl. -insurers 31.9% Employee savings Retail excl. JVs 25.6% French networks Corporate 4% 7% 5% International networks Institutional and 8% sovereigns² 23% CA & SG insurers 27.5% Third-party 11% distributors Breakdown of AuM1 by asset class (30/09/2020) Real, alt. and structured assets Breakdown of AuM1 by geography (30/09/2020) Asia €303bn Americas RoW 2% 4% France ex- CA & SG insurers €453bn 6% Equities 17% France ex- Asia CA & SG insurers 27% 18% 48% 15% Bonds Joint- Ventures 28% 16% Multi- Europe 12% Asset ex-France and Italy 14% CA and SG insurance mandates JVs 15.0% Treasury products Italy o/w €390bn for CA and SG insurers Europe ex-France €373bn Broad client base Full range of expertise 26% 10% French mandates CA & SG insurers Strong and diversified international presence 1. Assets under management include assets under advisory and assets sold and take into account 100% of assets under management and inflows on the Asian JVs. For Wafa in Morocco, assets are reported on a proportional consolidation basis. 2. Including funds of funds 10 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#11Reinforced leadership as privileged partner for retail networks Clients/channels of distribution French retail network partners International retail network CA LCL BANQUE ET ASSURANCE UniCredit CRÉDIT AGRICOLE CARIPARMA | FRIULADRIA | CARISPEZIA partners Third-party distributors TOTAL RETAIL RESONA Bank Austria KB BAWAG PSK eurobank (Pologne) AuM as of 30 Sept. 2020 SOCIETE GENERALE Crédit €109bn du Nord HypoVereinsbank CCRÉDIT AGRICOLE (Pologne) ⓇSabadell €138bn Preferred US Distributors Distributors Private Banks / Independent Financial Advisors/Wealth Managers, etc. €180bn €426bn excluding JVS JVS, essentially Asian 中国农业银行 भारतीय स्टेट बैंक State Bank of India NH NongHyup €249bn AGRICULTURAL BANK OF CHINA TOTAL RETAIL €675bn 11 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#12A leading position in the institutional and corporate segment A large and diversified client base AuM as of 30 Sept. 2020 Sovereign & Institutional Broad base across all types of Institutional clients worldwide: - Strong historical presence in sovereign and Central Banks - Pension funds, insurers, other financial institutions as well as non profit organizations European leader in the corporate segment: - Corporates Strong foothold in France - European leader in Treasury solutions / money market funds Corporate Pension Funds €389bn¹ €79bn Unique expertise in employee savings: Employee - Employee Share Ownership, Employee Savings, Retirement solutions €62bn Savings Schemes #1 position in France (> 43% market share²) with favorable prospects ("Pacte" law) CA & SG Insurers mandates Two historic core clients with a large and stable AuM base: - Crédit Agricole Assurances (France and Italy) €458bn – Sogecap (insurance subsidiary of Société Générale) TOTAL INSTITUTIONAL 1. Including funds of funds - 2. Source: AFG, December 2019 12 Amundi Investor presentation | November 2020 €987bn Amundi CRÉDIT AGRICOLE GROUP#13A comprehensive range of expertise Active A large offer of active expertise #1 in Europe 980 Liquidity solutions #3 in Europe in money market funds Money market and treasury products 205 #3 in Europe Fixed Income Euro fixed income (govies, corporate, high yield) Global fixed income (macro, corporate, currencies) Credit activities 529 Structured #1 in Europe in guaranteed products Structured notes / EMTN 34 Equity Top player in Europe European equities (#1 in Europe & Eurozone) 89 99 US #6 in Europe Assets US equities and fixed income 80 80 EM Assets #3 in Europe EM equities and fixed income 39 Multi- Asset #3 in Europe Multi-Asset Responsible Investing 243 #1 in Europe 345 Alt. & Real assets Passive & Smart Beta A growing presence Real estate retail (#4 in Europe) Private Equity 56 Private debt Alternative Infrastructure A fast growing platform 138 ETF: #5 in Europe (in terms of AuM) Indexing Smart Beta & Factor Investing AuM as of 30 September 2020: €1,413bn (excl. JVs) Source: Broadridge (open-ended funds sold in Europe. Mandates, dedicated funds and EMTNs exluded) as of September 2020, ETFGI (for ETF including ETP) as of September 2020. Amundi 13 | Amundi Investor presentation | November 2020 CRÉDIT AGRICOLE GROUP#14Solid, steady management performance Good performance level (open-ended funds¹) with around 70% of AuM in the top 2 quartiles Morningstar fund rankings by AuM 24% 5 years 6% 16% 3 years 7% 17% 23% 21% 1 year 1st quartile 13% 12% 2nd quartile 3rd quartile 4th quartile 54% 655 funds - €416bn 53% 780 funds €447bn 54% 66% 936 funds - €473bn 173 Amundi funds² with a 4- or 5-star Morningstar rating MORNINGSTAR XX% Data at end- September 2020 1. Source: Morningstar Direct, open-ended funds and ETFs, global scope, excluding feeder funds, end of September 2020. 2. There were 583 Morningstar-rated open-ended Amundi funds at the end of September 2020. 14 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#1502 Business activity and Financial Review Amundi 15 Amundi Investor presentation | November 2020 CRÉDIT AGRICOLE GROUP#16MARKET ENVIRONMENT After the major shock in March and the partial recovery seen since then, markets still in wait-and-see mode Equities: - Persistently fragile market conditions (-2.7% between end-June and end-September 2020 for the CAC 40, flat for the Stoxx 600) against an uncertain macroeconomic and health context 6500 6000 Interest rates: - Long rates still in negative territory Stock market trends CAC 40 and Stoxx 600 between January 2020 and October 2020 ECB interventions 12-18 March 2020 450 400 350 5500 300 5000 250 4500 200 4000 -CAC 40 -Stoxx 600 150 3500 100 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Trend in major interest rates between January 2020 and October 2020 10 years OAT 3m euribor 10 years Bund Itraxx Main spread Spreads tightened after a strong widening in first quarter 2020 1,4 (%) 0,9 Sources: Refinitiv (formerly Reuters). 16 Amundi Investor presentation | November 2020 0,4 -0,1 -0.6 -1,1 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Amundi CRÉDIT AGRICOLE GROUP#17In Q3 2020, equity market averages recovered but are well below those of Q3 2019 Equity market averages in Q3 2020 recovered but remain well below Q3 2019 levels (-10%) Sources: Refinitiv (formerly Reuters). 17 Amundi Investor presentation | November 2020 Stock market trends CAC 40 Index quarterly average (in pts) -10% 5 512 5 455 4 633 +7% 7 4 967 Q3 2019 Q1 2020 Q2 2020 Q3 2020 Amundi CRÉDIT AGRICOLE GROUP#18- A European asset management market in partial recovery following the first quarter shock Inflows back to positive starting from Q2 2020 Year-to-date, aggregate inflows have been exclusively comprised of treasury products 849 76 295 201 2017 2018 2019 9 months of 2020 Flows in open-ended funds €bn ■Treasury products ■MLT assets -6 38 139 124 257 159 -215 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Sources: Broadridge FundFile, ETFGI. European open-ended & cross-border funds (excluding mandates and dedicated funds). Data at end-August 2020. 18 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#19High inflows of +€35bn in Q3 Net inflows¹ of +€34.7bn in Q3 (+€31bn over 9 months), driven by: - Treasury products² (+€22.0bn) - MLT assets 2-3 (+€4.7bn) - JVs (+€8.1bn) Inflows recovered in Retail Sharp flow recovery in Institutional, driven essentially by treasury products Momentum of Asian JVs confirmed The dynamic of growth drivers is maintained: - Index & ETF management BUSINESS ACTIVITY Real assets - ESG 1. Assets under management and net inflows including Sabadell AM as of Q3 2020 and including assets under advisory and assets marketed and take into account 100% of the Asian JVs' assets under management and net inflows. For Wafa in Morocco, assets are reported on a proportional consolidation basis. 2. Excluding JVs. 3. Medium/Long-Term Assets: excluding treasury products; See slides 44-45 for definitions and methods. 19 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#2030/09/2019 1,563 AuM of €1,662bn in AuM* as of 30/09/2020, up +6.4% year-on-year (+4.4% over a quarter) Net inflows +76.8 +13.7 +5.8% Market and FX effect Q4 2019 31/12/2019 -3.2 +6.4% -122.7 -0.8 -7.6% 1,653 1,527 Net inflows Market and FX effect 31/03/2020 20 Amundi Investor presentation | November 2020 Q1 2020 +4.2% +4.4% AuM +34.7 +15.2 +20,7 +64.9 Net inflows Net inflows Market and FX effect 30/06/2020 Q2 2020 1,662 1,592 Net inflows Market and FX effect Scope effect 30/09/2020 Q3 2020 Market and foreign exchange effect Scope effect (Sabadell AM) +XX% Change in AuM vs. end of previous quarter * Assets under management and net inflows including Sabadell AM as of Q3 2020 and including assets under advisory and assets marketed and take into account 100% of the Asian JVs' inflows and assets under management. For Wafa in Morocco, assets are reported on a proportional consolidation basis. Amundi CRÉDIT AGRICOLE GROUP#21A very high level of inflows: +€35bn in Q3 Net inflows¹ in €bn MLT2 assets excl. JVs JVs Treasury products excl. JVs -€3.2bn +€34.7bn +8.1 -€0.8bn +22.0 +9.7 +3.1 +4.7 +2.9 -6.8 -8.4 -4.5 Q1 2020 Q2 2020 Q3 2020 1. Net inflows including Sabadell AM as of Q3 2020 and including assets under advisory and assets marketed and take into account 100% of the Asian JVs' inflows and assets under management. For Wafa in Morocco, assets are reported on a proportional consolidation basis. 2. Medium/Long-Term Assets 21 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#22Retail (excl. JVs): recovery in inflows MLT assets Treasury products Net inflows¹ in the Retail segment excl. JVs in €bn +€2.5bn French networks International networks +€5.2bn +3.6 +2.8 -€4.5bn Third-party distributors MLT assets²: inflows of +€2.4bn French and International Networks: Stable inflows against a backdrop of lingering risk aversion Third-party distributors: Bounce back of flows, driven primarily by passive management +2.8 +2.1 +1.2 MLT: +€2.4bn -0.0 -0.1 Treasury Products: inflows of +€2.8bn -0.3 -2.3 -2.7 -1.0 Recovery of money market inflows, mainly in the French networks -2.8 Q1 2020 Q2 2020 Q3 2020 1. Net inflows including Sabadell AM as of Q3 2020 and including assets under advisory and assets marketed. 2. Medium/Long-Term Assets 22 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#23Institutional: sharp flow recovery driven by Treasury Products MLT assets Treasury products Net inflows¹ in the Institutionals & Corporates segment in €bn CA & SG insurers Institutionals² and sovereigns +€21.4bn Corporates & Employee Savings Treasury Products: inflows of +€19.2bn Strong recovery of inflows in the Institutional and Corporate segments +19.2 +€0.6bn +2.7 -€15.4bn +4.5 +0.7 +0.3 +0.3 +1.2 MLT: +€2.2bn -2.6 -3.9 -11.0 -1.1 -3.5 Q1 2020 Q2 2020 Q3 2020 MLT Assets: inflows of +€2.2bn across all client segments 1. Net inflows including Sabadell AM as of Q3 2020 and including assets under advisory and assets marketed (including funds of funds). 2. incl. funds of funds. 23 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#24JVs: continued positive trend with a good level of inflows1 ABC CA (China) +€9.7bn Net inflows¹ in the JVs in €bn NH (Korea) +1.3 +€3.1bn +6.1 +5.8 SBI (India) +€8.1bn China: high net inflows this quarter India: net inflows still positive in spite of treasury product outflows - Korea: slightly negative inflows linked to treasury products +7.2 €bn +2.2 +1.8 -0.1 -1.0 -2.7 Q1 2020 Q2 2020 Q3 2020 AuM in the JVs tripled since 2015 CAGR 2015 9M 2020: +30% 99 9 73 142 118 249 234 2015 2016 2017 2018 2019 9M 2020 1. AuM and net inflows include assets under advisory and assets marketed and take into account 100% of the Asian JVs' inflows and assets under management. For Wafa in Morocco, assets are reported on a proportional consolidation basis. 24 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#25Expertises: MLT flows driven by ETF/index and real assets MLT³ net inflows (excl. JVs) in €bn Real and structured assets Bonds Equities Multi-asset +€4.7bn +€2.9bn -€8.4bn +1.3 +1.0 +1.3 +1.3 +4.4 +3.3 +2.3 -0.9 -2.2 -0.6 -7.1 Successful growth drivers and product innovations (excl. JVs) Passive management, ETFs¹ and smart beta: net inflows of +€3.2bn in Q3 2020 (AuM of €138bn at end-September 2020). ETFs¹: net inflows of +€2.3bn (No. 5 among European ETF providers² in Q3 2020); AuM of €57bn at end-September 2020 (fifth-largest European player²) Success of Amundi Prime ETF range (launched in March 2019 at very competitive prices) with more than €2bn in AuM Real and structured assets: Net inflows of +€1.0bn in Q3 2020 (AuM of €90bn at end-September 2020). Private Equity and Private Debt: net inflows of +€0.8bn in Q3 (€16bn in AuM at end-September 2020) -4.8 Q1 2020 Q2 2020 Q3 2020 1. Data including all ETP (ETF + ETC). 2. Source: Morningstar September 2020. 3. MLT: Medium/Long-Term Assets = excluding treasury products 25 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#26Solid results - Revenues affected by the market downturn (Q3 2020 vs. Q3 2019) FINANCIAL REVIEW Q3 9M - - - Significant decrease in operating expenses (-3.8% in Q3 2020 vs. Q3 2019), despite the consolidation of Sabadell AM Improved cost/income ratio of 51.2% in Q3 2020, at the same level as Q3 2019 and one of the best in the industry Adjusted net income up +2.3% yoy to €235m Adjusted net income of €674m, virtually stable excluding financial income (impacted by the market downturn) Adjusted net income¹, Group share (Єm) 735 -8.3% vs. 9M 2019 9M-19 674 9M-20 1. Adjusted data: excluding amortisation of distribution contracts. 26 Amundi Investor presentation | November 2020 +2.3% vs. Q3 2019 274 230 233 235 206 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Amundi CRÉDIT AGRICOLE GROUP#27Net revenue¹ down vs. Q3 2019, but up vs. Q2 2020 Q3/Q3 change (in €m) Net asset management revenue o/w net management fees o/w performance fees Q3 2020 Q2 2020 Q3 2019 (%) 631 608 656 -3.9% 601 573 631 -4.8% 30 34 25 +18.7% Financial income (net financial income and other net income) (1) 17 1 NS Total net revenue¹ (Єm) 630 625 657 -4.1% Net management fees: - down Q3/Q3, in light of the decline in average market levels (CAC 40 down 10% Q3/Q3) and of the evolution of the product/client mix, in line with previous quarters up Q3/Q2 thanks to the integration of Sabadell AM and higher market averages (+7% for the average CAC 40 Q3/Q2) Good level of performance fees maintained 1. Excluding amortisation of distribution contracts. 27 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#28Expenses down substantially and a cost/income ratio maintained at a very good level Operating expenses (€m) -3.8% 335 318 323 Q3 2019 Q2 2020 Q3 2020 51.1% 50.9% 51.2% 1. Cost/income ratio excluding amortisation of distribution contracts. 28 Amundi Investor presentation | November 2020 Cost/income ratio¹ (%) Lower operating expenses thanks to: the continuation of operational efficiency efforts - lower travel and marketing expenses in line with the crisis context the adjustment of variable compensation The slight Q3/Q2 rise is due to the consolidation of Sabadell AM The ratio of operating expenses to average AuM (excl. JVs) remains one of the best in the industry at 9.2bp Amundi CRÉDIT AGRICOLE GROUP#29Detailed income statements Q3/Q2 Q3/Q3 (in Єm) Q3 2020 Q2 2020 Q3 2019 9M 2020 9M 2019 Change chg. chg. Adjusted net revenue 630 625 0,8% 657 -4,1% 1 866 1 989 -6,2% Net asset management revenue 631 608 3,8% 656 -3,9% 1 912 1 955 -2,2% o/w net management fees 601 573 4,8% 631 -4,8% 1 806 1 870 -3,4% o/w performance fees 30 34 -13,7% 25 18,7% 106 85 24,4% Net financial income and other net income (1) 17 NS 1 NS (46) 34 NS Operating expenses (323) (318) 1,5% (335) -3,8% (971) (1016) -4,4% Adjusted gross operating income 307 307 0,1% 321 -4,5% 895 973 -8,1% Adjusted cost/income ratio 51,2% 50,9% +0,3 pt 51,1% +0,2 pt 52,0% 51,1% + 1 pt Cost of risk & Other (3) (4) NS (9) NS (20) (7) NS Equity-accounted entities 17 15 10,9% 8 NS 46 33 39,5% Adjusted income before taxes 321 318 1,1% 320 0,4% 921 999 -7,8% Taxes (86) (85) 1,2% (90) -4,7% (247) (264) -6,7% Adjusted net income, Group share 235 233 1,0% 230 2,3% 674 735 -8,3% Amortisation of distribution contracts after tax (15) (12) 16,4% (13) 16,4% (40) (38) 5,3% Net income, Group share 221 221 0,1% 218 1,5% 634 697 -9,0% Note: Adjustments: excluding amortisation of distribution contracts. See slides 44 and 45 for definitions and methodology. 29 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#30FINANCIAL STRUCTURE An ever stronger financial structure, with ~€1bn of surplus capital³ At end-September 2020: - €2.9bn of tangible equity1-2 at end- September 2020 A CET1 ratio of 18.6%² at end- September 2020 Surplus capital of ~€1bn³ An A+ rating confirmed by Fitch in May 2020, one of the best ratings in the sector €2.3bn Tangible equity¹ and CET1 ratio €2.7bn 15.9% 13.2% €2.9bn 18.6% 31/12/2018 31/12/2019 30/09/2020 XX% CET1 ratio 1. Equity excluding goodwill and other intangibles. 2. Factoring in the acquisition of Sabadell AM on 30/06 for €430m and no dividend payment in May 2020 for FY 2019. 3. Surplus relative to a minimum "managerial" level of 10% of the CET1 ratio 30 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#3103 Asia, a growth driver for Amundi 31 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#32Asia, a growth driver for Amundi Asia China An area experiencing rapid development with a growing weight in the global asset management market Amundi: a presence across all Asian markets A pragmatic strategy combining two approaches: partnerships under JVs with leading banks and wholly owned subsidiaries Indian JV: SBI MF has stepped into the No. 1 slot on the market, with successful Retail development and an established franchise with institutionals China has become a major market for Amundi with the creation of the new subsidiary with BoC Wealth Management 2025 objectives JV BOC WM: AuM > €60bn, Net income ≥ €50m Asia: AuM of €500bn 32 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#33Asia An area experiencing rapid growth with a growing weight in the global asset management market The Asian market has grown twice as fast as the global market since 20081 AuM in trillions of euros CAGR of 16% 2 2008 10 2019 Asia has become increasingly relevant in the global expansion of the sector 2015 to 2019 net inflows as a % of 2015 AuM - open ended funds² Asia Latin America 25% Europe 15% North America 9% 77% Asia represents 13% of the global asset management market (versus 5% in 2008)1 Rest of world Asia 13% 14% 26% Europe United States 47% 1. Source: global asset management market in 2020 according to BCG. 2. Source: Broadridge, June 2020, excluding money market funds and fund of funds Note: the Middle East is included in the Rest of world 33 | Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#34Amundi: a long-standing presence in Asia, which has become a major market ■ Present in Asia for 50 years, Amundi has a solid footprint covering the majority of markets with a focus on countries with strong growth: China and India ▪ The pragmatic yet ambitious expansion plan implemented in Asia has yielded results: Amundi's AuM have multiplied sevenfold in 10 years and represent more than 25% of its current AuM². 2017 2004 2008 1989 Amundi Singapore 1971 SBI Funds Management in India (37%) ABC-CA in China (33%) Pioneer acquisition (present in Taiwan) 2020 Amundi Japan 2003 2012 Amundi Taiwan Amundi BOC WM In China (55%) NH-Amundi 1982 in South Korea (30%) 2008 2013 Amundi 2019 Amundi Hong Kong Amundi Malaysia Thailand Mirae Taiwan Breakdown of Amundi's AuM1 January 2010 Rest of world Asia €42bn 3% 10% Europe excl. France €58bn 13% 74% France excluding CA & SG insurers €319bn Breakdown of Amundi's AuM² September 2020 Rest of world Asia €303bn 8% 25% 38% 1. €432bn excluding CA & SG insurers. 2. €1,204bn excluding CA & SG insurers Note: the Middle East is included in the Rest of world Europe excl. France €354bn 34 Amundi Investor presentation | November 2020 29% France excluding CA & SG insurers €453bn Amundi CRÉDIT AGRICOLE GROUP#35A pragmatic strategy combining two approaches: partnerships under JVs with leading retail banks and wholly owned subsidiaries... Asian JVs (ABC-CA, SBI MF, NH) Asian subsidiaries SBI: #1 in India SBI FUNDS MANAGEMENT PVT. JO €136bn (XX) AuM end-September 2020 NH: #3 in South Korea Amundi's AuM1 in Asia have increased sevenfold since 2010 ABC: #3 in China NH-Amundi 农银汇理基金管理有限公司 €35bn ARC-CA FUND MANAGEMENT CO.,LTD. €74bn €14bn €21bn CAGR of 22% 300 303 Japan €23bn 200 177 153 118 76 42 North-East Asia 2010 2014 2015 2016 2017 2018 2019 9M 2020 South-east Asia 1. AuM at end-September 2020 in Asia, including existing JVs (ABC-CA, SBI MF and NH) 35 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#36providing overall coverage of the main Asian markets ■ Amundi has deployed its business model by adapting it to national caracteristics, with Tier 1 partners in each country Asian JVs Local implementation through Amundi subsidiaries H 1 o/w institutional clients managed from Hong Kong 36 | Amundi Investor presentation | November 2020 SBI FUNDS MANAGEMENT PVT. JO NH-Amundi 农银汇理基金管理有限公司 ABC-CA FUND MANAGEMENT CO.,LTD. 1 Stake 37% 30% 33% Wholly owned subsidiaries Wholly owned subsidiary Wholly owned subsidiaries A successful model underpinned by a close partnership with leading Retail banks in Asia: • • • Provide support and expertise to the JVs in order to ramp up penetration of fast growing markets Take advantage of powerful distribution networks Target middle class clients whose investments in financial savings products are increasing Direct access to Third-party distributors and institutional clients in several Asian countries An approach adopted to markets open to foreign investment and with open architecture Amundi CRÉDIT AGRICOLE GROUP#37SBI MF: Now No. 1 in India, with successful Retail development and an established franchise with institutionals Solid partnership in India QSBI Created 200 years ago, SBI is India's oldest and largest bank • #1 in size (~22,000 branches) • ~450 million customers Amundi ASSET MANAGEMENT Strong growth of SBI MF's AuM since 2015 €bn CAGR 2015-9M 2020: +54% 128 136 two new pension fund management 74 mandates 63% SBI FUNDS MANAGEMENT PVT. LTD. 37% 32 54 39 17 24 T 2015 2016 2017 2018 2019 9M 2020 ■Ranked No. 1 in the open-ended fund sector in India ■ Market share of 15.3%¹ ■ A respected name among SBI's Retail clients, focused on core assets, offers in every asset class, Retail solutions, digital tools and access to the SBI network. ■ A solid and growing franchise for institutional clients: SBI MF is one of the largest asset managers in India thanks to the mandates won in 2019 from two major pension funds for €74bn HDFC MUTUAL FUND Nippon indian Mutual Fund Physicals uti cici PRUDENTIAL MUTUAL FUND kotak SBI MF is now No. 1 in India FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 Source: Source AMFI: Average Assets under Management (AAUM) for the quarter of July - September 2020 1. market share in open-ended funds. 37 Amundi Investor presentation | November 2020 SBI MUTUAL FUND A PARTNER FOR LIFE 15.3% Amundi CRÉDIT AGRICOLE GROUP#38China A highly promising market addressed with a new partner, Bank of China A dynamic market in transition Amundi enjoys a unique positioning, covering all segments of the Chinese AM market thanks to partnerships with two major banks Amundi BoC WM: a new subsidiary that was created rapidly in 2020, making it the first company with majority foreign capital in China offering Wealth Management products. Ambitious business and financial objectives by 2025 38 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#39A dynamic market, in transition 2013-2019: 25%¹ CAGR " Rapidly growing market, targeting middle class clients whose investments in financial savings products are increasing ■ Wealth Management: transition from old guaranteed products to new products similar to mutual funds ■ Customer demand transitioning towards more diversified products, with the same focus on return 2019-2025: CAGR > 10 %1 (versus +4% for the global asset management market²) driven by: ■ An increase in the accumulated wealth of individuals and institutional clients ■ Growing demand for retirement savings ■ Growing capital markets, benefiting from product transformation Chinese market AuM (in € trillions)¹ CAGR: > 10% 12.5 7.2 CAGR: +25% 4.0 55% 1.9 3.2 45% 1.2 0.6 2013 2019 2025 1. Source: estimate McKinsey 2. Source: Oliver Wyman 39 Amundi Investor presentation | November 2020 Fund Management Segment Wealth Management Segment Amundi CRÉDIT AGRICOLE GROUP#40Unique positioning, covering all segments of the Chinese AM market thanks to partnerships with two major banks 33% shareholding Amundi ASSET MANAGEMENT 农银汇理基金管理有限公司 ABC-CA FUND MANAGEMENT CO.,LTD. AuM: €74bn¹ 55% shareholding Ranking of Chinese banks Amundi BOC 1st ICBC Wealth Management Co Ltd 2nd CCB Intermediated by 2 major banks 3rd ABC > 400m Retail clients 23,000 branches 中国农业银行 ⑥ 中国银行 AGRICULTURAL BANK OF CHINA BANK OF CHINA 4th BOC ~300m Retail clients 11,000 branches 2 addressable markets Fund Management ■ A market created in 2001, open to foreign asset managers through JVs and wholly owned companies Regulated by the Financial Markets Authority² " Wealth Management ■ A market opened in 2019 through the conversion of bank deposits to traditional AM products, accessible to foreign asset managers via majority equity stakes in JVs. Regulated by the banking authority³ Other initiatives/ market segments Wholly owned foreign enterprise4 (WOFE) for QDIS (Qualified Domestic Investors) Direct sales to institutional clients from Hong Kong 1. At 30 September 2020 2. China Securities Regulatory Commission (CSRC) 3. China Banking and Insurance Regulatory Commission (CBIRC) 4. Company with 100% foreign capital, created in 2019 40 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#41Amundi BoC WM: a new subsidiary that was created rapidly in 2020, making it the first company with majority foreign capital in China offering Wealth Management products. Amundi BOC Wealth Management Co Ltd H1 2019 H2 2019 H1 2020 H2 2020 July 2019: opening of the Wealth Management market regulation to foreign asset managers August 2019: Amundi approached by Bank of China, with the objective of launching the first of these new JVs in China. December 2019: regulatory go-ahead for the plan to create a JV 55% owned by Amundi and 45% by BoC WM H1 2020; definition of commercial strategy and operational implementation (recruiting the teams, etc.) September 2020: Licence granted to Amundi BoC WM Management and portfolio managers in place (40 FTEs) Infrastructures (office space, IT platform with exclusive Alto configuration) in place Q4 2020: operational start-up and initial launch of Wealth Management products 41 Amundi Investor presentation | November 2020 Δ Δ Δ Δ Amundi CRÉDIT AGRICOLE GROUP#42Ambitious business and financial objectives by 2025 Amundi BOC Wealth Management Co Ltd Financial objectives Clients Products Investment and Risk Management Business objectives Serving BoC clients as a priority ■ Priority focus on BoC clients (Retail and in-house mandates) ■ Gradual expansion to other distribution channels (Third-party distributors, digital platforms, etc.) and investors (Tier 2 banks, institutional investors, etc.) Offer of a diversified range of products, in cooperation with the BoC Retail network ■ Fixed Income and multi-asset products (invested in liquid assets in RMB) ■ Focus on product yield with a low to moderate risk profile Open-ended and closed funds, with different maturities ▪ Longer term: international asset classes (subject to regulatory developments) Greenfield Approach ■ 100% new products. No transfer of existing BOC products or assets ■ Liquid assets only ■ Amundi's expertise in asset allocation, processes and rigorous risk management tools AuM > €60bn by 2025 Profitability Breakeven by the end of 2021 Net income (on 100% basis) ≥ €50m by 2025 42 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#432 2025 objective for Asia: AuM of ~ €500bn¹ 2010-9M 2020 CAGR of 22% 300 303 ~ €500bn 200 177 153 118 76 42 2010 2014 2015 2016 2017 2018 2019 30/09/2020 2025 Launch of the Amundi/BoC WM JV in October 2020 Amundi BOC Wealth Management Co Ltd Source: assets under management at end-September 2020 in Asia, including the existing joint ventures (ABC-CA, SBI MF and NH) 1. o/w Amundi BOC WM 43 Amundi Investor presentation | November 2020 சல் Amundi CRÉDIT AGRICOLE GROUP#4404 Spain, partnership with Banco Sabadell Amundi 44 Amundi Investor presentation | November 2020 CRÉDIT AGRICOLE GROUP#45B Sabadell Banco Sabadell: a deal that boosts Amundi's European leadership, with integration well underway Overview of the transaction: 21 January 2020: announced a 10-year strategic partnership with Banco Sabadell and Amundi's plan to acquire 100% of Sabadell AM1: - Sabadell AM is the #5 largest player in Spain with €21bn in AuM² (exclusively in Retail), Acquisition price of €430m³ - - fully funded by Amundi's existing financial resources Representing a 2020 PE multiple of ~13x excl. synergies and ~9x incl. synergies AuM doubled in Spain (fourth largest eurozone market), and Amundi's leadership in Europe was boosted 30 June 2020: closing of Sabadell AM acquisition Integration well underway: Early February 2020: integration projects launched in cooperation with Banco Sabadell and Sabadell AM teams ► Q2 2020: Commercial partnership began First Amundi products (Protect 90) promoted in the Banco Sabadell network - Amundi funds included in Banco Sabadell offers (private banking and retail banking) Next steps: Q4 2020: IT system migration (incl. ALTO) expected to begin A growth partnership in line with Amundi's strategy Implementation ahead of schedule 1. Excluding Urquijo Gestion; 2. At 30/09/2020, Sabadell AM AuM and AuA, excl. Urquijo Gestion and third-party funds distributed by Banco Sabadell. 3. Plus an earn-out clause of up to €30m, payable in 2024. 45 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#46Sabadell AM: 9M 2020 activity and financial outlook ⓇSabadell Sabadell AM in 9M 2020 AuM held up well at €21bn, down moderately by around 6% vs. end 2019, due primarily to a negative market effect Inflows back to positive in Q3 thanks to launch of Protect 90 fund Modest gain in market share¹ Net profit contribution of €8m in Q3 2020 net contribution target confirmed Adjusted net income expected for 2020 (full year): €33m³ Synergies: ► Amount increased to €20m before tax in 3 years (vs. €15-18m before tax initially) ► Synergies from 3 sources: - Insourcing of third-party funds (as funds of funds) and investment management delegations Cost optimisation (e.g. migration of Sabadell AM to Amundi's IT platform) Acceleration of Sabadell AM's expansion (as a reminder, in 2019, Banco Sabadell's market shares were about 8% in retail banking vs. about 6% in financial savings)² ► Phasing of completion: 2021: 50% of synergies 2022: 100% of synergies The deal fully meets Amundi's financial criteria for acquisitions: Accretive to Amundi's adjusted EPS of around +5% on full year basis after recognition of 100% of synergies Return on investment greater than 10% within three years 1. Spanish domiciled funds. - 2. Source: Banco Sabadell and Bank of Spain. 3- before the amortisation of the distribution agreement with Banco Sabadell of €8m net of tax Amundi 46 Amundi Investor presentation | November 2020 CRÉDIT AGRICOLE GROUP#4705 Strategic roadmap 47 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#48Amundi's ambition: to rank among the top 5 global asset managers, thanks to... - The quality of the expertise and services it offers to its customers Its strong growth and profitability trends 2022 targets +5% CAGR Net Income Group Share 2018-221 ≤53% Cost income ratio² III Its position 100% as a committed Share of AuM open-ended funds integrating ESG criteria³ financial player 1. Based on market assumptions, generating a broadly neutral impact by 2022, compared to the average level in 2018. Adjusted net income Group share (excluding amortization of distribution contracts). 2. Excluding amortization of distribution contracts. 3. Wherever technically possible. 48 | Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#49Key strategic ambitions and priorities 1 Accelerate Amundi's development on its two customer segments (Retail and Institutional) - Consolidate Amundi's leadership as a strategic partner for retail networks, through its range of solutions, services and tools adapted to each distribution - Increase penetration on institutional customers, thanks to a comprehensive range of expertise, as well as advisory and service offers - Invest in growing expertise (passive, real assets) and in the development of new solutions (discretionary management solutions) 2 Consolidate leadership in Europe and amplify development in Asia, through local teams, JVs and new partnerships 3 4 Leverage the industrial model to maintain costs among the lowest in the industry, a key competitive advantage in a context of long-lasting low interest rates Making technology as a new growth driver - Continue investments in the technical platform (IT in particular), and enhance its value through the Amundi Services offer Enhance the support offer to distribution networks by deploying innovative and personalized digital tools 5 Reinforce Amundi's position as a responsible investor 49 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#50Key sensitivities - Key sensitivities Equities +/-10% +/- €25-30bn of AuM Fixed Income +/- 100bps -/+ €30-35bn of AuM €80-85m of revenues (run-rate, excl. performance fees) €35-40m of revenues (run-rate, excl. performance fees) These market sensitivities do not take into account potential impact on net inflows 50 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#5106 Amundi's ESG ambitions 51 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#52Responsible Investing: plan implementation underway (€bn) 276 RI AuM growth 345 331 323 2018 2019 H1 2020 9M 2020 Net inflows of +€9bn in Q3 2020 (+€16bn in 9M 2020) Sustained development of ESG solutions Climate change Launch of a bond fund with exposure to green project financing in emerging markets. Launch of AIIB-Amundi Climate Change Investment Framework, the first holistic approach for building climate risk-resilient investment portfolios based on the three key objectives of the Paris Agreement. ESG Launch of the "ESG Improvers" range, which offers a long-term ESG approach in order to identity companies on an improving ESG trajectory Continuing efforts and contributions to international initiatives ■ Publication of a new report: "Responsible Capitalism: An Opportunity For Europe" by the Institut Montaigne and the French think tank Comité Medicis: a call to Europe to become the continent of responsible capitalism 2020 PRI assessment results: Amundi has improved since last year, attaining the highest score of A+ across all categories, including Private Equity, which participated this year for the first time. 52 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#53Wide range of flagship Responsible Investment solutions RI solutions meeting investors ESG objectives and constraints RESPONSIBLE INVESTMENT OFFERING €345 Bn ESG Multi Dimension €325 Bn ESG Best in class, ESG Risk Management, SRI / ESG Indices Over/under ESG weighting, Specific exclusions, in accordance with Amundi, benchmarks and / or client benchmarks Environmental €19 Bn Decarbonization Green Bonds Green Equity Green Private & Real Assets Climate Indices Thematic focus Other Thematics €0.3Bn Education Social €0.3Bn Impact Investing strategies Social Bonds Source: Amundi. AuM Amundi Group at the end of September 2020 53 Amundi Investor presentation | November 2020 ENGAGEMENT & VOTE Amundi CRÉDIT AGRICOLE GROUP#5407 Appendices business development Amundi 54 Amundi Investor presentation | November 2020 CRÉDIT AGRICOLE GROUP#55A unique industrial model, client-centric and scalable France Client LCL Sales and marketing Products and services IT and support Crédit du Nord Retail clients Partner Networks International partners HypoVereinsbank UniCredit Bank Austria CA CRÉDIT AGRICOLE CARPARA FRULADA CARSPEZIA Distributors JVs Institutional & Corporate clients Institutional Corporates Asset Owners & External Asset Managers PSWAG |中国农业银行 KB eurobank भारतीय स्टेट बैंक State Bank of India NH Preferred distrib. Private Banks/ IFAs Sovereign/ central banks Institutional, Pension insurers funds Empl. savings schemes Sales teams Dedicated teams and entities Active management Responsible Investment Dedicated sales and servicing teams Portfolio Management and advisory capabilities 55 Amundi Investor presentation | November 2020 Passive management Real assets Integrated IT platform, back office and risk management functions Amundi Services Fund Hosting, Dealing Services, PMS... Amundi CRÉDIT AGRICOLE GROUP#56FRENCH RETAIL France: progressive improvement of Unit Link products since 2016 Amundi's net inflows in French networks (€bn) 4,0 3,8 2,9 -3 -2,6 - 3,6 -3,0 -10 - 10,5 2012 2013 2014 2015 2016 2017 2018 2019 9M 2020 Amundi Flows The flows in French Retail in 9M 2020 have been driven by good flows on Unit Link products and MLT products % of Unit Link gross inflows in life insurance 36% 34% 31% 32% 28% 28% 27% 24% 20% 2016 2017 2018 H1 2019 H2 2019 FY 2019 Q1 2020 Q2 2020 Q3 2020 Context - At industry level, the weight of Unit Link flows into life insurance products has increased compared to 2016-2019 levels due to decreasing yields and specific insurers commercial policies After Q1 2020, the weight of UL flows into life insurance products has decreased with the higher level of risk aversion due to covid crisis Source: Federation Française de l'Assurance 56 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#57JVS Favorable prospects for Asian JVs €bn JVS1: exceptional AuM growth in the last years CAGR 2013-September 2020 +40% 249 234 HT 142 118 99 73 38 26 2013 T 2014 2015 2016 2017 2018 2019 9M20 An unmatched client base and a huge business potential Positive market conditions for Asian JVs (China, India, South Korea) Middle class clients continuing to increase investment into financial savings products China: A transition year in 2019 due to regulatory changes, and better prospects beyond India: Development of digital distribution Strategic priorities: Continue to provide support to JVs to further penetrate the fastest-growing Asian markets Improve profitability # ranking in country China Agricultural Bank # retail customers AuM at end September 2020 Stake 450m €74bn 33% of China Тор India SBI 337m €136bn 37% Nº1 Korea NongHyup Top 5 Contribution from Associates² CAGR 2013-2019 +19% 25 28 25 33 33 50 46 46 16 17 29m €35bn 30% 2013 2014 2015 2016 2017 2018 2019 1- Assets under management include assets under advisory and take into account 100% of assets managed by the Asian JVs (China, India, South Korea). For Wafa in Morocco, assets under management are reported on a proportional consolidation basis. 2- Associates are mostly composed of Asian JVs 57 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#58PACTE LAW The Pacte Law: two channels for the French retirement schemes Harmonizing and simplifying the retirement schemes (so-called "PER" - Retirement Saving Schemes) The four common characteristics BEFORE ΜΟΝ The corporates' schemes Direct subscription by the PERCO PERE (ART.83) PER/CORPORATES PER COL through Employee Saving Schemes PER OB through Defined Contribution from employers savers PERP/MADELIN 1 Tax deductibility from income base for the voluntary contributions from individuals as of end-2019 (1) 2 Flexibility in the exit term in annuities our lump sum (2) and options to exit before the term with some conditions(2). PER 3 PER INDIVIDUAL PERI through individual subscriptions A tailor-made solution thanks to life cycle management dedicated to retirement saving schemes: << gestion pilotée des placements dédiés à la retraite >> Transfer is possible between various retirement saving schemes The PER is portable regardless of career path, job mobility and unemployment period. Addressable market by asset managers (1) Up to 10% of the yearly income base of the tax household (2) Except for the defined contribution from employers (PER OB) 58 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#59ETF/SMART BETA/ INDEX Our ambition is to double ETF/Smart Beta/ Index AuM in Mid-Term Positioning +€ 12.6 bn net flows 2 in passive management in 9M 2020 € 138 bn AuM ex-JVS (end-September 2020) # 5 in net flows in European ETF (+3.0bn in 9M2020)² # 5 in AuM in European ETF (€56.5bn in 30/9/2020)² ■Smart Beta Index ETF Evolution of Amundi Passive AuM (€ bn) 69 58 69 50 31 38 133 00 90 95 200 Strategic priorities - - Strengthen the sales and marketing coverage through targeted recruitments in core countries as well as in high growth areas Accelerate our penetration in the retail sector in Europe sale of ETF packaged solutions Develop Smart Beta product offer: add senior portfolio managers and widen the offer to the bond and diversified smart beta 2012 2013 2014 2015 2016 2017 2018 2019 2023 Evolution of ETF/ETP market in Europe¹ ($bn) and ETF/ETP Amundi market share (%) 974 762 726 541 488 395 438 1- Source: ETFGI end September 2020 2- AuM and net flows excluding JVs 59 Amundi Investor presentation | November 2020 2013 2014 2015 2016 2017 2018 2019 4.0% 4.3% 4.4% 4.8% 5.9% 6.1% 6.3% Amundi market share Amundi CRÉDIT AGRICOLE GROUP#60Development of Amundi Services Strategic ambition Currently 43 external clients on 3 key offerings Strategic priorities deployment of AMS full offering range in key geographies - France, Italy, UK, Germany, Luxembourg and Ireland A focus on mid-size asset managers, insurance companies and small asset owners * ALTO: Amundi Leading Technology & Operations Dealing services ALTO* Fund Hosting 60 Amundi Investor presentation | November 2020 Offering AMUNDI SERVICES Key achievements "An outsourced, centralized dealing desk giving access to all instruments and geographical areas" "Our all-in-one and modular portfolio management platform" "Comprehensive local and cross-border hosting solutions for AIFs and UCITS coupled with value- added portfolio services" Dealing Services are organized in a global operating model with follow-the- sun capabilities (Singapore, Paris, London and Dublin) ALTO* services are now open for new clients in Ireland, Spain and Austria Fund Hosting: new key mandates (>4 Bn€) on our 3 servicing geographies (France through BFT, Luxembourg and Austria) Revenues double in the last two years Amundi CRÉDIT AGRICOLE GROUP#6108 Appendices: financial data 61 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#62Slight decrease in margins due to the less favourable product/client mix Retail Institutionals excl. CA & SG insurers CA & SG insurer mandates Net fee and commission income (€m)1 Margins on average AuM excl. JVs (bp)1 44,6 45,2 42,8 -5.1%² 919 919 872 H1 2018 H1 2019 H1 2020 H1 2018 H1 2019 H1 2020 +2.8% 268 251 258 10,8 10,3 10,4 H1 2018 H1 2019 H1 2020 H1 2018 H1 2019 H1 2020 +8.6% 71 69 75 3,4 3,2 3,3 H1 2018 H1 2019 H1 2020 H1 2018 H1 2019 H1 2020 -2.8% 18,9 18,7 17,7 1 259 1 239 1 205 Average margin H1 2018 H1 2019 H1 2020 H1 2018 H1 2019 H1 2020 1. Excluding performance fees; 2. H1 2020 vs H1 2019 reflects partly the impact of lower launch of structured products in 2020 62 Amundi Investor presentation | November 2020 Amundi#63Breakdown of AuM by client segment Institutionals €987bn 59.4% AuM1 by client segment - €1,662bn at 30 September 2020 Corporate €79bn Employee savings €62bn French networks €109bn 3,7% 6,5% 4,7% International networks €138bn Retail (excl. JVs) 8,3% Institutionals and sovereigns² €389bn 23,4% 10,8% Third-party distributors €180bn €426bn 25.6% 15,0% Joint Ventures €249bn JVs 27,5% CA & SG insurer mandates €458bn €249bn 15.0% 1. Assets under management including Sabadell AM as of Q3 2020 and including assets under advisory and assets marketed and take into account 100% of the Asian JVs' assets under management and inflows. For Wafa in Morocco, assets are reported on a proportional consolidation basis. 2. Including funds of funds. 63 | Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#64AuM and inflows by client segment Assets under management¹ at 30 September 2020 and 2019 Net inflows¹ by client segment in Q3 2020/2019 and 9M 2020/2019 AuM AuM % chg. vs. Inflows (€bn) French networks International networks 30/09/2020 30/09/2019 30/09/2019 Q3 2020 Inflows Q3 2019 Inflows Inflows 9M 2020 9M 2019 109 110 -0.9% +2.52 +0.4 +3.8 -2.3 138 125 +10.8% -0.2 -0.6 -2.9 +1.7 Third-party distributors 180 189 -5.0% +2.9 +4.0 +2.3 +2.6 Retail (excl. JVs) 426 423 +0.7% +5.2 +3.8 +3.2 +2.1 Institutionals² and sovereigns 389 376 +3.4% +9.3 +4.0 +7.8 -4.4 Corporates 79 79 -1.0% +10.2 +11.2 +1.7 +3.0 Employee Savings 62 62 -1.0% +0.5 -0.2 +3.4 +2.0 CA & SG insurers 458 459 -0.3% +1.4 +9.9 -6.2 +16.2 Institutionals 987 977 +1.0% +21.4 +24.9 +6.7 +16.7 JVs 249 163 +53.1% +8.1 +14.0 +20.8 +12.2 TOTAL 1,662 1,563 +6.4% +34.7 +42.7 +30.7 +31.0 Average 9M AuM (excl. JVs) 1,381 1,340 +3.1% I 1. Assets under management including Sabadell AM as of Q3 2020 and including assets under advisory and assets marketed and take into account 100% of the Asian JVs' assets under management and inflows. For Wafa in Morocco, assets are reported on a proportional consolidation basis. . 2. Including funds of funds. 64 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#65AuM and inflows by asset class and region Assets under management¹ at 30 September 2020 and 2019 Net inflows¹ by asset class in Q3 2020/2019 and 9M 2020/2019 AuM AuM (€bn) 30/09/2020 30/09/2019 % chg. vs. 30/09/2019 Inflows Q3 2020 Inflows Inflows Inflows Q3 2019 9M 2020 9M 2019 Equities 243 234 +3.9% +3.3 +0.7 +9.9 -2.3 Multi-asset 251 245 +2.1% +1.3 -1.1 -4.0 -8.7 Bonds 625 633 -1.3% -0.9 +7.5 -10.2 +14.9 Real, alternative and structured assets 90 82 +9.8% +1.0 +1.7 +3.6 +5.4 MLT ASSETS excl. JVs 1,208 1,194 +1.2% +4.7 +8.9 -0.8 +9.3 Treasury products excl. JVs 205 206 -0.6% +22.0 +19.8 +10.7 +9.5 ASSETS excl. JVs 1,413 1,400 +0.9% +26.7 +28.7 +9.9 +18.8 JVs 249 163 +53.1% +8.1 +14.0 +20.8 +12.2 TOTAL 1,662 1,563 +6.4% +34.7 +42.7 +30.7 +31.0 o/w MLT Assets 1,429 1,330 +7.5% +15.9 +25.3 +22.1 +27.0 233 233 +0.0% +18.8 +17.4 +8.6 +4.0 o/w Treasury products Assets under management¹ at 30 September 2020 and 2019 Net inflows¹ by geographical area in Q3 2020/2019 and in 9M 2020/2019 AuM AuM (€bn) 30/09/2020 30/09/2019 % chg. vs. 30/09/2019 Inflows Q3 2020 Inflows Q3 2019 Inflows 9M 2020 Inflows 9M 2019 France³ 8922 886 +0.7% +17.3 +20.8 +13.2 +17.3 Italy 171 174 -1.5% -0.4 -1.2 -2.7 -5.7 Europe excl. France and Italy Asia 201 176 +14.2% +10.6 +6.1 +12.1 +5.6 303 225 +35.1% +8.6 +15.6 +14.2 +9.1 Rest of world4 94 102 -7.9% -1.3 +1.3 -6.1 +4.7 TOTAL TOTAL excl. France 1,662 770 1,563 677 +6.4% +34.7 +13.7% +17.4 +42.7 +21.9 +30.7 +31.0 +17.6 +13.7 1. Assets under management including Sabadell AM as of Q3 2020 and including assets under advisory and assets marketed and take into account 100% of the Asian JVs' assets under management and inflows. For Wafa in Morocco, assets are reported on a proportional consolidation basis.. 2. Of which €439bn for CA & SG insurers. 3. France: net inflows on medium/long-term assets: +€2.0bn in Q3 2020; +€4.4bn in Q3 2019. 4. Mostly the United States. 65 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#66Shareholding structure 31 December 2018 31 December 2019 30 September 2020 Number of shares % of capital Number of shares % of capital Number of shares % of capital Crédit Agricole Group 141,057,399 69.9% 141,057,399 69.8% 141,057,399 69.8% Employees 602,329 0.3% 969,010 0.5% 931,924 0.5% Treasury shares Free float Number of shares at end of period 814,081 0.4% 1,333,964 0.7% 1,285,933 0.6% 59,230,545 29.4% 58,802,932 29.1% 58,888,049 29.1% 201,704,354 100.0% 202,163,305 100.0% 202,163,305 100.0% Average number of shares for the period 201,591,264 201,765,967 202,163,305 - Average number of shares on a pro-rata basis -The issue of share capital reserved to employees is underway. It will be completed on 17/11/2020. The impact of this operation on net earnings per share should be negligible. The maximum number of securities to be created will be 0,5 million (i.e. 0.2% of capital and voting rights). 66 Amundi Investor presentation | November 2020 Amundi CRÉDIT AGRICOLE GROUP#67Contacts and calendar Investors & analysts Anthony Mellor Head of Investor Relations [email protected] Tel.: +33 1 76 32 17 16 Mobile: +33 6 85 93 21 72 Thomas Lapeyre Investor Relations [email protected] Tel: +33 1 76 33 70 54 Mobile: +33 6 37 49 08 75 Calendar Publication of 2020 annual results: 10 February 2021 Publication of Q1 2021 results: 29 April 2021 Tickers Main indexes 67 Amundi Investor presentation | November 2020 Amundi shares AMUN.PA SBF 120 AMUN.FP FTSE4Good MSCI www.amundi.com 91-93, boulevard Pasteur, 75015 Paris - France Amundi CRÉDIT AGRICOLE GROUP