#1JARDIN ARISIEN ALSTON January 2024 INVESTOR PRESENTATION Région îlede France 1#2" Important notice This Presentation has been prepared by Région Ile-de-France for information only and should not used for any other purpose; it does not constitute and should not be considered or interpreted as an offer to subscribe the notes or as a solicitation of the interest of investors to subscribe the notes as described in the Presentation (the "Notes"). [The offering and sale of the Notes in France will only be available to qualified investors (excluding individuals) within the meaning of and in compliance with article L. 411-2 of the French Code Monétaire et Financier. The Notes are not intended for public offering in France.] The Recipient is acting on its own behalf. 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Région Ile-de-France shall not bear any responsibility in the case where a Recipient distributes or makes any use of this Presentation without its authorisation and without the relevant authorities' authorisation in the relevant jurisdictions. The Recipient agrees and accepts that the Presentation is confidential and must not be disclosed to any third party (except for the Recipient's external advisors on the condition that such external advisors respect the obligation of confidentiality) and must not be reproduced, in a whole or in part, without prior written consent of Région Ile-de-France. Région îledeFrance Finance department - Investor presentation (January 2024) 2#3CONTENTS A leading local authority in Europe Operations and responsibilities 1. 2. 3. A strong financial situation Région ilede France 4. Financing strategy and debt management 5. A major player in sustainable development 6. A green, social and sustainability bond framework 7. Appendices Région îlede France Finance department - Investor presentation (January 2024) 3#4Région îlede France 1 A LEADING LOCAL AUTHORITY IN EUROPE Finance department - Investor presentation (January 2024) 4#5Region Ile-de-France, a diversified and go-ahead territory - 2% of French surface area, 75 Paris Oise ■ 18% of French population. Eure Val-d'Oise is 92 Hauts-de-Seine 93 Seine-Saint-Denis 94 Val-de-Marne CERGY Aisne 93 La Marne BOBIGNY NANTERRE 75 92 94 CRETEIL Région Paris will host the 2024 Summer Olympic Games îledeFrance VERSAILLES Yvelines EVRY Eure- et-Loir Essonne Loiret Seine-et-Marne Marne Water Urban area MELUN Aube La Seine Yonne Finance department - Investor presentation (January 2024) 21% 1% Wooded area, Agricultural natural environment area 28% 50% 5#6A skilled population in a dynamic territory • France: The most attractive country for foreign investments in Europe (2022), 74% of foreign investors consider the attractivity of France will improve by 2025 (EY Barometer, 2021). Region Ile-de-France: Exportations €85bn Population 2.7% GDP 5.4% == 12.4M inhabitants (2022) € €734Bn (2021) 18.3% Jobs 3.3% 6.4M jobs (2021) R&D researchers 6.1% 31.2% 119.700 FTEs (2017) 23.3% Region Ile-de-France / EU Region Ile-de-France / France Région îledeFrance 40.5% 40% of the adult population holds at least a bachelor's degree Air traffic Population 12.4M inhabitants (Paris airports) 33M passengers Employed population 5.4M 720 000 students (26% of all French students) Finance department - Investor presentation (January 2024) 1 257 570 companies 244 150 Business creations, including 55% of micro-businesses GDP per capita €59,675 (190% of European average) + 6#7One of the leading economic regions in Europe The wealthiest region in France: • GDP of €734 bn (2021) • • 31% of France's GDP • 5.4% of EU-27's GDP One of the highest GDP per capita in Europe (€ 59,675 in 2021), representing 190% of European average. Europe's highest concentration of Fortune corporations, Global 500 headquarters corporate Région îledeFrance La Défense business district 7 Finance department - Investor presentation (January 2024)#8R&D and innovation: overview EU28 Top 5 Regions for People Employed in Technology and Knowledge-intensive sectors - All NACE activites (2020, *2019) A Region welcoming and reinforcing the R&D attractivity in Île-de-France: 105,800 researchers, being 40% of France's researchers and 6% of European's researchers A total of €19Bn of R&D expenditures per year, being 39% of France's R&D expenditures 3rd highest number of innovation centres in the world (9) Regional budget dedicated to higher education and research: €134M Greater London* 366,700 Paris Region 464,400 Région îledeFrance Oberbayern 202,900 Lombardy 242,200 3 Comunidad de Madrid 247,100 NO 400 km "Greater London = Inner London (East; West), Outer London (East and North East; West and North West; South) L'INSTITUT PARIS REGION, 2022 Source: Eurostat 2022, data 2020 L'INSTITUT PARIS REGION Finance department - Investor presentation (January 2024) 8#9A multi-industry hub enabling a resilience facing economic shocks Seine Gateway Smart Manufacturing -industry -aeronautics - automative -tourism -logistics Cergy Knowledge & Innovation Hub -university campus -security -cosmetics La Défense -headquarters -finance -audit, consulting Plaine Commune Digital & Creative Cluster -headquarters -finance -audit, consulting Paris CDG Airport Area Hub of International Exchanges -aeronautics & airport services -transport & logistics -wholesale trade & retail -tourism & congress -digital Paris Core Economic Business Hub -university campus -start-ups -retail - tourism -finance -audit, consulting Paris Saclay Innovation Playground -university campus -deep tech, Al -transport -energy -security-defence -tourism -optics, photonics Grand Orly Productive & Innovative Area -airport -logistics -health -industry Paris Marne La Vallée Sustainable City & Leisure Cluster -aeronautics -logistics -retail -tourism Grand Paris Sud Sénart Industry Area -health -logistics innovation -industry -aeronautics About this map This map shows Paris region main business hubs. It is based on SRDEII. Regional Strategy for Economic Development, Innovation and Internationalisation (SRDEII) 2017-2021 Région îlede France Finance department - Investor presentation (January 2024) 9#10One of the world's best transportation infrastructure The region's unrivaled transit infrastructure ensures the seamless flow of people, goods, capital and ideas: 41 millions trips per day through : - 2nd most frequented rail network in the world (below Tokyo), 2nd densest network in the world (below London) with 448 train stations, 5th longest network in the world. Massive investments are being made in autonomous vehicles mobility and electric €2bn 1 484km of Regional railways 1 500 bus lines 2023 regional budget for transportation Région îledeFrance Finance department - Investor presentation (January 2024) 10 10#11Environmentally responsible urban planning In 2020 Paris Region planned €10 billion to be invested in environmental projects over the next 5 years Bicycles and Electromobility In Paris Region, 850,000 journeys are made by bicycle every day Innovative Clean Buses1 A large number of fully clean buses in dense areas by 2025 (almost 5,000 buses) Feeding the City With Agritech Currently, Paris Region has 73 hectares of urban agriculture Région îlede France 1 The Paris Region finances transport infrastructures. The rolling stock (including buses) are financed by IDFM Finance department - Investor presentation (January 2024) 11#122 OPERATIONS AND RESPONSIBILITIES Région îlede France Finance department - Investor presentation (January 2024) 12#13How the Region operates 110- Île-de-France's Regional Council is composed of 209 members, elected in June 2021 for a 7- year mandate (2021-2028). The Regional Council governs the affairs of lle- de-France through its resolutions. Valérie Pécresse, elected President for a second term, is heading the the regional administration and has responsibilities for: • preparing and implementing the decisions taken by the Regional Council authorizing expenditures and acting as the signatory power managing the Region's assets Région îledeFrance Finance department - Investor presentation (January 2024) 13#14A large scope of responsibilities Transportation High school Professional training and employment Région îlede France ++ Land use planning |☑ Economic, social and cultural development G European programmes management Finance department - Investor presentation (January 2024) 14 14#15Région îlede France 3 A STRONG FINANCIAL SITUATION Finance department - Investor presentation (January 2024) 15#16• . A small share of total public debt (2021) French regions represent 1.2% of French public debt, and 21% of public local authorities' total debts In 2021, Region Île-de-France accounts for 18% (€6,06Bn) of French regions total debts (€32,9Bn) Region Île-de-France accounts for 0,22% of the whole French public debt State and central administrations 82% Breakdown of France public debt (2021) Social security system 10% Public local authorities 9% €93Bn Municipalities 59% €31,8Bn Departments 20% Breakdown of France public local authorities debt (2021) €32,9Bn Regions 21% Région îlede France Finance department - Investor presentation (January 2024) €26,84Bn Rest of the regions 82% Breakdown of Regions debts (2021) Région îledeFrance €6,06Bn IDF Region debt 18% 16#17€ billions 7,00 A balanced budget with a specific focus on investments and tight control on operating expenses 2015 2016 6,00 5,00 2.64 2.87 4,00 2.49 2.14 2.05 2.15 2.11 2.23 2.54 2.34 3,00 Capital expenditures ■Operating expenditures 2,00 2.78 2.68 2.64 2.55 2.54 2.51 2.56 2.76 2.84 2.95 1,00 2017 2018 Rationalization of the resources of associated bodies " Focus on key regional responsibilities Optimized purchase policy Région îlede France 2019 2020 2021 2022 2023(p) BP 2024 Strong focus on investments since 2016. Operating expenditures significantly decreased, thanks to strong efforts put in place to reduce the regional administration costs (including associated bodies) Non-replacement of one out of two vacancies (p): projection Efforts to decrease operating expenditures were hailed by the French national court of auditors in 2019 and also by the Regional accounts houses controls in 2020 Finance department - Investor presentation (January 2024) 17#182024 Budget - €5.8bn 32% Transports €1868M EXPENDITURES (€5.8bn) Région îledeFrance 田17% Secondary schools €1003M 16% Economy, employment and training €945M 12% 11% Debt service Regional costs administration RESOURCES (€5.8bn) 19% Domestic Tax on the Consumption of Enery Products €1089M 16% Borrowings €939M €689M €655M 中3% % 33% 7% Social and Environment and living environment €391M territorial equality €179M 2% International Europe Share of national value- added tax €1941M € ¹ • Tax on offices 17% €94M Other taxes €964M + Tax on vehicle registration certificates • Tax on network operators • Tax on car parks Revenues from taxation 10% Misc. resources €559M 3% Transfers from the State €211M 2% Tax revenues €122M 45% of 2024 budget expenditures (exc. debt) dedicated to investments (€2.325bn) 71% of total 2024 budget resources coming from taxes (€4.1bn) Finance department - Investor presentation (January 2024) 18#192024 Budget - Resources (€5.8bn) The Region resources (€5.8bn) are composed of revenues (mainly tax related) for 84% and borrowings for 16% Tax revenues: €4.1bn (71% of the 2024 Budget Revenues), such as: portions of the TICPE, Domestic Tax on the Consumption of Energy Products (€1,1bn) a share of the VAT, Value Added Tax (€1,9bn) Transfers from the French State: €0.2 bn (3% of the 2024 Budget Revenues) Misc. €0.56bn (10% of the 2024 Budget) such as European funds and police fines... Borrowings: envelope of €0,9bn (16% of the 2024 Total Budget Resources) Evolution of the Region's resources since 2015 (in €Bn) Région îlede France ■Revenues Borrowings 0.60 0.94 0.20 0.70 0.80 0.50 0.71 0.65 0.53 0.60 4.85 4.75 4.84 4.90 5.18 4.88 4.21 4.21 4.32 4.37 2015 2016 2017 2018 2019 2020 2021 2022 2023(p) BP 2024 (p) projection Finance department - Investor presentation (January 2024) 19#20Financial Ratings MOODY'S << Aa2 >> Stable Outlook Short-term credit rating: P-1 Date: November 2023* "a strong operating performance" "a strong governance, as evidenced by the region's prudent budgetary approach" and "The region's sophisticated financial management, exemplified by its long-term Green Sustainability strategy, further supports the rating” ■ ■ Fitch Ratings « AA- >> Stable Outlook Short-term credit rating: F1+ Date: October 2023* "Ile-de-France has strict control of expenditure" "Ile-de-France's liabilities carry little risk." "Ile-de-France has strong access to liquidity in various forms." "The Region's Standalone Credit Profile (SCP) is 'aa+' and reflects the combination of a "medium-strong" risk profile (High Midrange) and debt sustainability ratios valued at the top of the "aa" category in the Fitch rating scenario. Ile-de-France's IDR capped by the French state's (AA/Negative)." Région îledeFrance * Agencies' ratings reports are available on https://www.iledefrance.fr/region-funding Finance department - Investor presentation (January 2024) 20 20#214 FINANCING STRATEGY AND DEBT MANAGEMENT Région îlede France Finance department - Investor presentation (January 2024) 21 221#22A protective legal framework Budget balance golden rule (art. L1612-4 of the Code Général des Collectivités Territoriales - CGCT ; see appendix slide 46): ■ The operating section must be voted in balance ■ The investment section must also be voted in balance => Borrowings are investment revenues that can only finance investment expenditures The gross operating surplus + own investment earnings must at least cover debt amortization Debt service (interest + capital) is a mandatory expense (art. L4321 from the CGCT) • State controls on local authorities : ■ Legal control (prefect, administrative court) ■ Accounting operations control : separation between the authorizing payment officer - Region Ile-de-France - and the accountant ensuring the payment – the National State administration. - ▪ Regional accounts houses controls (Chambres Régionales des Comptes) National State insurance (no explicit guarantees): ▪ State ensures payments of tax proceeds and grants (In accordance with conditions set in the Finance Law) ■ Obligation to provide financial compensation for local authorities in the case of transfer of competencies or creation of new competencies (Art. 72-2 of the Constitution; see appendix slide 51) Région îledeFrance Finance department - Investor presentation (January 2024) 22 22#23A strong financial situation 2015 2016 2017 2018 2019 2020 2021 2022 2023(p) BP2024 Gross operating balance (€M) 718 776 1 014 1 052 1 574 1 448 1 465 1426 1 388 1 209 Current margin rate (%) 20.5 22.5 27.8 29.2 38.2 36.5 36.4 34.0 31.9 29.1 Debt payback ratio 1 (yrs) 7.5 7.2 5.5 5.4 3.4 4.0 4.1 4.4 4.6 5.7 Self-financing capacity² (%) 57.8 67.8 70.9 81.6 103.9 84.9 97.5 83.0 76.0 59.8 1 Outstanding debt to gross operating surplus 2 Self-financing to capital expenditures excluding debt (p) : projection BP = Primitive budget The indicators until 2023 refer to the current figures recorded in the Region's administrative accounts and are thus final (forecast for year 2023). Regarding 2024, the indicators are from the primitive budget, that will evolve in the year with the suppletive budget. Région îledeFrance Finance department - Investor presentation (January 2024) 23 23#24A diversified financing strategy offering a large access to short- and long-term liquidity • . €1bn NEU-CP short term program in French law (2002) ■ Rated Prime-1 (Moody's) ; F1+ (Fitch) A liquidity line of €100M until February 2024 ■ Availability starting from the same day €9bn EMTN program ■ €6.02bn outstanding by end-2023 ■ 1st French local authority EMTN program (2001) and largest bond issues amongst French local authorities A long-term partnership with EIB to finance sustainable investment projects Partnership renewed in 2023 for 5 years (€350M) Opportunistic use of bank loans → Outstanding debt by end of 2023: €6.452bn Région îledeFrance Finance department - Investor presentation (January 2024) 24#25Issuance of bonds as the main financing tool Issuance of bonds is executed in coherence with the financial surface of the Region and is systematically assessed vs other financing alternatives Region's debt (31/12/2023) Private placements 4,59% Schuldschein 0,77% EIB and CDC loans 5,90% Région îledeFrance Public bond issues 88,74% Outstanding debt by the end of 2023: €6.452bn Average lifetime: 5 years and 3 months Average rate: 1.58% 93.3% of bonds (Public issues and private placements) 6,7% of banks & institutional loans financing and Schuldschein Finance department - Investor presentation (January 2024) 25 25#26Focus on 2023 Sustainable bond issuance • On Monday 23 January 2023, Ile-de-France Region successfully launched a sustainable bond issue under its green, social and sustainable framework. This new €600 million, long 8-year issue offers a yield of 2.959%. In a busy primary market, Ile-de-France Region managed to get investors' attention taking advantage of a window to execute its transaction on Monday. Books were officially open with a price guidance of +50bp area over the interpolated OAT. Investors responded rapidly, enabling the Region to set the spread at OAT+46bp. The books finally closed in excess of €2.3bn (incl. 150mln JLMs) and the size was set at €600mln. The transaction attracted 94 investors from 15 countries and underlines the quality of the Region' signature and its recognised financial strength. Région îledeFrance Northern Europe 6% Distribution by geography Germany/Austria / Switzerland 20% Central banks / Official United-Kingdom / South Europe 13% Ireland 3% 0 Belgium / Netherlands / Luxembourg 13% France 45% institutions 5% Insurers / Pension funds 22% Distribution by investors type Finance department - Investor presentation (January 2024) Asset Managers 43% Bank Treasuries 30% 26#27Issuance of bonds as the main financing tool . Conservative interest rate risk management • An indexation linked to fixed rates or simple floating rates (Euribor, Livret A) in the Euro zone Distribution fixed rate / floating rate adjusted depending on the long-term economic trends • Over 98% of the outstanding debt at fixed rate at the end of 2021 A complete hedging of the currency risk • • No currency risk incurred by the region • Systematic hedging at the issuance via swaps in euros A conservative approach on derivatives • Possibility to subscribe to simple vanilla products . No structured products • 100% of the outstanding amounts after swap at the end of 2022 ranked in «<the least risky category» (level << A1 » according to the French State classification) Région îledeFrance Finance department - Investor presentation (January 2024) 27 27#28Région îledeFrance Debt amortization profile (end 2023) A smooth debt amortization profile spread across the maturity spectrum €M 1000 800 600 400 200 0 2023 2024 2025 2026 2027 2028 2029 2030 Finance department - Investor presentation (January 2024) Repayment 2031 2032 2033 Interests 2034 2035 2036 2037 2038 2039 2040 28#29Région îlede France 5 A MAJOR PLAYER IN SUSTAINABLE DEVELOPMENT Finance department - Investor presentation (January 2024) 29 29#30Regional strategy for sustainable development Région îledeFrance Sustainable development is at the heart of the Region's actions Fighting climate change and protecting the atmosphere Preserving biodiversity and protecting environments and resources Enable the fulfilment Competent authority setting strategic guidelines of local public actions on the territory: territorial development, transports, economic development, climate and energy, biodiversity, waste management The Region sets the example in terms of governance and policies implemented : ☐ of all human beings ☐ Ensure social cohesion and solidarity among territories and generations Establish development dynamics based on responsible modes of production and consumption Systematic Integration of sustainable development considerations into policies; Responsible purchasing policy and public contracts; Development of technical guidelines by sector to improve sustainable building for new construction projects. REGIONAL ACTIONS Regional Conference of the parties Zero Net Artificialisation, Zero Net Emission, Circular economy Ecological and Solidarity-based Participatory Budget Strategic orientations document "SDRIF-E" Agricultural Pact 2018-2030 Finance department - Investor presentation (January 2024) 30 30#31A region facing climate change Following the first regional climate change conference, the region committed to reach : << Zero Net Artificialisation >>, << Zero Net Emission >> and << Zero net resource >>. The ambition of a low-carbon economy in Ile-de-France will be the foundation of the SRDEII (Schéma Régional de Développement Economique, d'Innovation et d'Internationalisation). The region intends to become a leader in strategic innovations for the decarbonization and digitalization of industry, health, climate... (aeronautics, space, defense, sustainable and smart cities, green energy, etc.) The region voted in November 2021 the implementation of the strategic orientations document "SDRIF-E" (Schéma directeur régional Île-de- France), in order to plan the arrival of 50 000 new inhabitants per year within 2040 while considering sustainable development topics. Les Lyc A regional administration aware and active on the ecological and climatic transition: a 2023 seminar for managers dedicated to the following topic: "Ecological transition: a regional ambition, a managerial responsibility". * Région îlede France Finance department - Investor presentation (January 2024) 31#32A pioneer in the green and sustainability bond market First ever local authority to issue a sustainability bond in a public format as soon as 2012; In 2019, the Region committed to 100% green & sustainable financing ; 13 green and sustainability bonds issued since 2012, including 9 benchmark bonds for a total amount of €5.4Bn Part of the green & sustainability borrowing in the outstanding total debt of the Région îledeFrance Region 100% 90% 91% 80% 85% 70% 78% 75% 60% 65% 50% 59% 49% 40% 40% 30% 29% 20% 10% 19% 8% 0% 100% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Finance department - Investor presentation (January 2024) 32#33Region's ESG score as an issuer (Moody's IS) Environmental : E-2 "(...) poor risks in all categories" Social: S-2 "(...) very high standards of education, good housing availability, high standards of health and safety, and high-quality access to essential services." Governance G-1 " "(...) prudent budgetary planning and practices, flexibility and financial management, including sophisticated debt management." ENVIRONMENTAL SOCIAL E-2 S-2 GOVERNANCE G-1 Details on Moodys.com Région Finance department - Investor presentation (January 2024) îlede France 33#346 AN EXEMPLARY GREEN, SOCIAL AND SUSTAINABILITY BOND FRAMEWORK Région Finance department - Investor presentation (January 2024) 34 îlede France#35The green, social and sustainable bond framework of Region Ile-de-France GREEN, SOCIAL AND SUSTAINABLE BOND FRAMEWORK for the Île-de-France Region New edition: March 2021 Région iledeFrance Région îlede France • A Framework fully compliant with the International Capital Market Association (ICMA) principles Green Bond Principles 2018, Social Bond Principles 2020 and Sustainability Bond Guidelines 2018; Projects financed through the bonds are selected according to the four following steps: NATIONAL RULES Compliance with the national rule in terms of social and human rights; 2 REGIONAL CRITERIA Compliance with the Region's eligibility criterion for green or social projects; 3 EUROPEAN TAXONOMY Where possible, evaluation of the alignment of projects with the Climate mitigation goal; 4 ESG CONSIDERATIONS Qualitative assessment of project management in its environmental, social and governance responsibility. ខ An allocation and impact reporting is published the year following the bond issuance. Sustainability Bond Guidelines 1 considered i 4 6 RE Finance department - Investor presentation (January 2024) RENT AND ECONOMIC GREATH y 10 13 15LAND 35#36The alignment with the EU Taxonomy as soon as 2021 Regional green projects are classified according to the environmental objectives of the << Taxonomy>> Regulation (EU Regulation (EU) 2020/852, article 9) and when possible, the NACE classification Vigeo-Eiris (Moody's ESG Solutions) SPO: "Most Green Eligible Categories follow the technical screening criteria specified by the Draft Delegated Act under EU Taxonomy Regulation (Nov 2020)" * In its evaluation and selection process, regional Green projects categories are assessed, when possible, according to the Do No Significant Harm criteria (example of the clean transportation sector in appendix of the Framework) Moreover, at the start of the evaluation and selection process is confirmed that the Region's activities are carried out in strict compliance with the French environmental and social legislation, hence in line with the European Union's Minimum Safeguards (Regulation (EU) 2020/852, article 18) Climate change mitigation * Out of the 16 EU taxonomy activities covering all regional projects, regional projects are fully aligned with the technical criteria of contribution to the objective of climate change mitigation in 13 cases, partially aligned in 2 cases and "Not yet assessed" in 1 case. Région îledeFrance Finance department - Investor presentation (January 2024) 36#37Eligible Green Projects categories Region Île-de-France has identified 4 green projects' categories and defined rigorous eligiblity criteria for each category to be aligned with the best market practices Green Project Categories Green Buildings Clean Transportation Renewable Energy Terrestrial and aquatic biodiversity conservation Description Construction of buildings following a sustainable development Approach and promoting respect for the Environment Renovation of buildings according to a sustainable development approach and promoting respect for the Environment Construction of rail transit Infrastructure Construction of low-carbon road transport infrastructure dedicated to public passenger transport Projects contributing to the development of local renewable energies and energy efficiency Restoration and rehabilitation of ecosystems (e.g. renaturation of banks, the reopening of urban rivers, the planting of hedges), Sustainable forest management (e.g. adaptation of tree species to climate change, safeguarding state forests), Investment in protected areas. Regional Eligibility Criteria Public buildings (high schools and annex buildings, higher education buildings, medico-educational institutes): All high schools from 2017 onwards: required energy consumption level < -40% compared to RT 2012 (equivalent to the level E3C1 of Label E+C-). All higher education buildings: required level of energy consumption < -20% compared to RT 2012 (equivalent to Effinergie + Label). Medico-educational institutes: Required level of energy consumption < RT 2012. Residential: Required level of energy consumption < RT 2012. High schools and higher education buildings: for major restructurings/rehabilitations of +1000m2, the works must lead to a reduction in primary energy consumption (Cep) of at least 30% (Cepprojet ≤ Cepinitial - 30%; i.e. the level required by the Thermal Regulation «RT Global»>). Construction of rail transport infrastructure meeting the following criteria: ground electrified infrastructure and associated subsystems: infrastructure, energy, on-board control-command and signaling and ground control-command and signaling subsystems. Construction of low-carbon road transport infrastructure dedicated to public passenger transport. Production of electricity from photovoltaic solar energy; Cogeneration of heat/cold and electricity from solar energy; Heat/cold production from geothermal energy; Production of heat/cold using residual heat; Manufacture of equipment for the production of hydrogen; Hydrogen storage Afforestation (PEFC label) Forest rehabilitation and restoration (PEFC label) Reforestation (PEFC label) Sustainable forest management(PEFC label) Forest conservation (PEFC label) Wetlands restoration Région îledeFrance Green contribution to the Sustainable Development Goals REMOVER HBURY MONTA 12 AFTER 13 year 15 ANO со Finance department - Investor presentation (January 2024) 37#38Eligible Social Projects categories Region Île-de-France has identified 6 social projects' categories and defined rigorous eligibility criteria and target populations for each category to be aligned with the best market practices Social Project Categories Access to essential services: Education Access to essential services: Health Access to essential services: Social inclusion Affordable housing Affordable basic infrastructures (transport, energy, green spaces and sport infrastructures) Support for employment creation, prevention & fight against unemployment related to crises . Regional Eligibility Criteria An increase in educational accommodation capacity through the construction or extension of infrastructure for public secondary and public higher education. Improvement of the quality of existing infrastructure and equipment for public secondary and public higher education. An increase in health capacities through the construction or extension of health infrastructures. Improvement of the quality of existing health infrastructures and sanitary facilities. Development of medical research. Provision of infrastructure, equipment and emergency materials needed in the event of an exceptional crisis (health crisis, natural disaster, etc.). Increase in reception and accommodation capacities for vulnerable populations. Projects to make buildings and infrastructure (transport, education, etc.) accessible to people with reduced mobility. Increase in the capacity of the social housing stock through the construction of new dwellings or the transformation of existing buildings. Improvement of the quality and comfort of the existing social housing stock through thermal renovation works. Construction of public transport infrastructure for better access to the entire territory. Projects to improve the comfort and safety of transport users and those living near the infrastructure. Construction of basic infrastructure for the supply of renewable energy, heating and cooling networks. Works to develop and extend green spaces, preservation of natural environments and biodiversity. Works to develop and extend sport infrastructures. Projects contributing to the creation or maintenance of local employment, via support to SMES & MICS in the territory and to social and solidarity economy projects. Support for research and innovation of SMES & MICs and the development of the territory's attractiveness. In the event of exceptional crises (health crisis, natural disaster, etc.), support for SMES & MICs that have been impacted by the consequences of the crisis. Target Population The entire population of the territory The entire population of the territory Vulnerable populations including, in particular but not exclusively, people with reduced mobility, the elderly, people in precarious situations or vulnerable groups (situations of insecurity, exclusion, disability, homelessness, etc.) Population meeting social criteria, students and young working people The entire population of the territory Small and Medium-sized Enterprises (SMEs) and Microenterprises (MICs) SMES & MICs impacted by the occurrence of exceptional crises The unemployed Région îlede France Social contribution to the Sustainable Development Goals 1 Y DECENT WORK AND 10 11 ASUMBECITES П TUNNIS Finance department - Investor presentation (January 2024) MOM NET 12 REFFOGAL 12 COMIN AND PROCE Q 38#392024 issuance estimated funds allocation Estimated % of fund allocation Green project categories Category Green Co-benefits Social Green Green buildings 20% Clean transportation 65% Renewable energy 4% Terrestrial and aquatic biodiversity conservation 3% Social project categories Access to essential services education 1% ✓ Access to essential services : health 1% ✓ Access to essential services: social inclusion 1% ✓ Affordable housing 1% ✓ Affordable basic infrastructures 2% ✓ Support for employment creation, prevention & fight against unemployment related to crises 2% ✓ 92% 8% Région îledeFrance 3% Social Sustainable ✓ ✓ ✓ 89% More than 90% of the issuance finances green projects Finance department - Investor presentation (January 2024) ⭑EU⭑ Taxonomy Goal 1 Alignment 92% 65% 39#40Projects financed through IDF bonds Clean transportation Example: extension of a subway line, new bus line, new tramway line... Green buildings Example: build or renovation of a high school, build of higher education school... Renewable energy Example photovoltaic installation, heating network... Région îlede France Terrestrial and aquatic biodiversity conservation Example: renaturation of a river, opening a wood to the public... Access to essential services: health W Example: increasing the capacity of care units, support of medical-educational institutes... Access to essential services: social inclusion >90% Green projects <10% Social projects Example: improve the accessibility of infrastructures, support for vulnerable populations... 6-8 Access to essential services education Example: provide access to quality education infrastructure... Affordable housing Example: construction of student residences, social housing... Affordable basic infrastructures C Example: renovation of sport training centers, build of outdoor layout... Support for employment creation, prevention & fight against unemployment related to crises Example: support for research and innovation of SMES & MICS and the development of the territory's attractiveness... Through the competencies conferred on it by law, the Region's intervention is at the heart of the territory's economic, social and environmental development. Projects financed include : Environmental co-benefits, Or social co-benefits. Finance department - Investor presentation (January 2024) 40 40#41Projects selection Projects are evaluated and selected according to a five-step process mainly led by the Finances Department: Operational Departments propose for selection a list of investments projects or schemes The Management Control and financial Decision-making Mission extracts, from the Region's financial information system, the amounts of expenditures for the listed projects / schemes. The Finances Department finalizes the list of projects for a total amount corresponding to the amount of proceeds. The Sustainable Finance Committee validates the final list. It gathers the main managers from the Finances Directorate, from the Territorial Cohesion Directorate in charge of regional environmental policies, the Operational Departments and the Paris Region Institute, validates the final list, The public accountant certifies that the expenditures listed on the allocation report have been paid. Compliance with national legislation in terms of human rights and social laws Selection criteria Compliance with one or more of the eligibility criteria defined by the Region for each of the green and/or social project categories Evaluation of the Contribution to the European Union's Qualitative assessment of project management in its environmental, social and societal, economic and governance environmental goal of responsibility Climate Change Mitigation and assessment of compliance with the relevant Do no significant harm (DNSH) criteria, where possible dimensions Région îlede France Finance department - Investor presentation (January 2024) 41#42A well controlled management of proceeds Proceeds management: French local authorities are required to deposit their cash balances in a single account with the French Treasury. The public accountant certifies the proper use of funds for the eligible projects financed by the loan. A 12-month allocation period: from a budgetary and accounting point of view, the proceeds of the bonds will be entered as investment income and cover the capital expenditure for the year. The principle of budgetary annuality offers a guarantee to investors that the funds raised by the green and sustainable bonds will be used in the year of mobilization of the borrowings to finance the Region's investment projects Reallocation of proceeds: If the Region faces a major controversy on an eligible expenditure, or if an eligible project becomes ineligible, is postponed or divested, then it will reallocate the net proceeds to other eligible projects which meet the eligibility criteria of the Framework within 24 months of the reallocation decision Région îlede France Finance department - Investor presentation (January 2024) 42 442#43A renowned reporting process For each bond issue, the allocation and impact report shall be published at the latest by 31st December of the year following the issue on the Region's website ☐ The Allocation report, made of : • Tables showing the allocation of the funds raised for the selected projects et schemes, broken down in 2 major categories: Green & Social • • • • • A breakdown of the funds raised, in accordance with the UN Sustainable Development Goals and for each of theirs Targets. A presentation, where possible, of the distribution of the allocated funds according to their contribution to the environmental objectives of the European Union ☐ The Impact report, with Project sheets detailing each project/scheme with : A description of the purpose of the project The essential information on the project, the amounts allocated to the project in previous bond issues, and the share of co-financing A summary table illustrating how the project meets the eligibility criteria and the project management criteria • An evaluation, where possible, of the impact of the project according to the 3 impact indicators selected • The UN SDGs / environmental objectives of the EU to which the project aims to respond The 3 impact indicators selected by the Region are: Région - CO2 emissions avoided by the project (in teq/year) for all green projects number of jobs created by the project Reporting methodology and assumptions used to report publicly disclosed. number of beneficiaries of the project îlede France Finance department - Investor presentation (January 2024) 43#44More than 10 years of green and sustainable financings Since 2012, Region Île-de-France made several commitments, contributing to the adoption of high- level markets standards The Region will continue to develop and adhere to best practices Région îledeFrance Public issue Private placement Tap 2012 2014 2015 ME 500 12C15-2027 M€25 (2015-2024 MEIOO (2015-2020) Compliance with Green Bond Principles € 350 million (2012-2024) Predating the creation of the Green Bond principles € 600 million (2014-2026) € 625 million (1) Commitment to report on the use of funds «<second opinion »> External and independant certificate (1) Aggregated amount Published on the Published on the anniversary date anniversary date I Published on the anniversary date Renewal of 2014 opinion Deloitte. 2016 2017 2018 2020 2021 2022 2023 € 650 million (1) (2016-2025) € 500 € 500 € 800 million 2017-2029) million million (2018-2033) (2020-2030&2040) Published on the anniversary date Published on the anniversary date Published on the anniversary date 专业 € 500 € 700 € 600 million (2021-2028) million (2022-2032) million (2023-2031 Published on the anniversary date Published in 2029 V.E Renewal Renewal of 2016 cpinion of 2016 opinion 2016 second Opinion update VE I Finance department - Investor presentation (January 2024) I To be published by the end of 2023 To be published by the end of 2094 Renewall of 2091 opinion Renewal of 2021 opinion I 44#45A remarkable Second-Party Opinion V.E New Île-de-France Region Framework has been reviewed by Vigeo Eiris (Moody's ESG Solutions) in March 2021 Vigeo Eiris (V.E) is of the opinion that the Expected impacts and ESG risks management are Robust and that "the contemplated Framework is coherent with Region Île-de-France's strategic sustainability priorities and sector issues and that it contributes to achieving the Issuer's sustainability commitments" The quality of the framework has been underlined with 3 pillars recognized as Best practices by V.E, see details below: Use of Proceeds Evaluation & Selection of Eligible Categories Management of Proceeds Monitoring & Reporting Best Practices ✓ V.E considers that the content, eligibility and exclusion criteria of the UoP are clear and in line with international standards for all categories. Best Practices ✓ V.E highlights that the process of selection and exclusion are clearly defined and detailed for all the Eligible Categories. Best Practices ✓ V.E notes that Île-de-France Region has provided the information needed on the procedure that will be applied in case of project/asset divestment or postponement and it has committed to relocate divested proceeds to projects that are compliant with the Framework within 24 months. Aligned V.E mentions that the monitoring and reporting section of the Île-de-France Region is aligned. Région îledeFrance Finance department - Investor presentation (January 2024) 45 45#46Issuer quality highlights ☐ Ratings of Aa2 (stable) Moody's / AA- (stable) Fitch ☐ A solid financial situation allowing to weather the impacts of crisis A protective legal framework for local finances Prudential weights: Solvency II = 0%, CRD IV = LCR 2A, Risk weighting = 20% Sustainability issues at the heart of the Region's competencies, with a commitment to 100% of green and sustainable financings Leader in the European local authorities sector (ranked 3/29) by Vigeo in 2020 An issuance Framework aligned to ICMA's best market practices (GBP and SBP) Positioning of project categories vs the Taxonomy regulation (work in progress) to offer maximum transparency Région îledeFrance Finance department - Investor presentation (January 2024) 46 46#477 APPENDICES Région îlede France Finance department - Investor presentation (January 2024) 47#48French territorial organisation Composed of: 18 regions 101 départements 34 965 municipalities, of which 97% under 10,000 inhabitants Principle of free administration by elected councils, no local institution can exercise any authority on another Income and competences are defined by national law → A key role of the national State in the territorial organisation Several characteristics : 1) Process of merging and combinations to optimise local public action: Example with the << Loi NOTRE » : switch from 26 regions to 13 metropolitan regions, to improve efficiency and focus of Regions on investment policies Merging at the muni level 2) Competences attributed to each level of local authorities based on the principle of subsidiarity, and withdrawal of the concept of general competences in 2015 → Given their size and strategic positioning, Regions are investment authorities by essence, with a leadership role amongst local administrations in terms of economic development, environment, planning. Région îledeFrance Finance department - Investor presentation (January 2024) 48#49A protective legal framework Article 72-2 of the Constitution Local authorities benefit from resources they can use freely in the conditions fixed by the law. They can receive all or part of the proceeds issued from all kind of taxations. The law can authorize them to fix the scope and rate in the limit it determines. Fiscal receipts and other own resources of local authorities represent, for each category of local authorities, a determining part of all their resources. The organic law fixes the conditions in which this rule is implemented. Any transfer of competencies between the State and the local authorities comes along the allocation of equivalent resources to those that were dedicated to their exercise. Any creation or extension of competencies having an increase in expenditures of the local authorities as a consequence comes along resources fixed by the law. The law plans devices for adjustment intended to favor equality between the local authorities. Article L1612-4 of the General Local Authorities Code The budget of the local authority is in real balance when the functioning and the investment sections are respectively voted in balance, incomes and expenditures having been evaluated in a sincere way, and when the debit on the incomes of the functioning section to the benefit of the investment section, added to the own receipts of this section, excluding the proceeds from borrowings, and eventually the endowments of amortizations and provisions accounts, provides enough resources to cover the capital repayments of the borrowings maturing in the course of the exercise. * Région îledeFrance Finance department - Investor presentation (January 2024) 49 49#502023 Budget - Resources breakdown (excl. borrowings) Breakdown of regional revenue according to their potential growth ■proportional fixed no object 2022: Basis of Region Ile-de-France resources national basis regional basis 6,0% 29,7% 5,6% 29,2% 64,3% 65,2% 26% 74% 2022 AC 2023 PB Fixed resources: State resources transfer, part of national taxes Proportional resources: (according to economic context): TVA, la TRCG, la TCB, TA... No object misc. resources National basis: VAT, tax on energy products... Regional basis: taxes on consumption, building constructions, real estate sales... Note: Some of these regional taxes are exclusive to Region Ile-de-France and are not in force in other regions. These exclusive taxes represent 12,7 % of the total of resources (excl. borrowings). Région îlede France Finance department - Investor presentation (January 2024) 50 50#51The competent authority to define the strategic orientations of the public action on the territory of Ile-de-France Authority in charge of organizing the territory planning : The Region defines the strategic orientations in terms of urban planning, with regard to the environmental stakes, employment hubs, needs for housing and transports (SDRIF). This reference framework is prescriptive and must be declined in the whole of the local plans for urban planning in Ile-de-France. The Region is associated to each local document for urban planning and pays a particular attention to the environmental topics. Authority in charge of organizing the transports in Ile-de-France with IDFM (Île-de-France Mobilité, formerly "STIF"): The Region launched the transports revolution with IDFM since 2016, with the aim to renew all the rolling stocks (trains) and the implementation of the Greater Paris for Bus to service the territories of the greater Paris area. Lead manager of the economic development on the territory : The Region defined in December 2016 the regional strategy for economic development, innovation and internationalization, which integrates the environmental stake to address a dual objective of identification of the possibilities in terms of economic activity, employment and innovation, and improve the living environment in Ile-de-France. Lead manager, along with the State, of the territorial politics related to quality of air, energy and fight against climate changes The regional council has voted in September 2022 the Protection, Resistance and Adaptation Plan of the Ile-de-France Region to climate change. Lead manager for biodiversity Role of planner in terms of waste management, with a zero-waste objective adopted in September 2016 Région îledeFrance Finance department - Investor presentation (January 2024) 51#52Region Ile-de-France, Société du Grand Paris, Ile-de-France Mobilités, RATP and SNCF : 5 different entities Governance Competences Région îledeFrance Legal body governed by public law Regional authority, autonomous -regional assembly composed of 209 elected members, - chaired by Valérie PECRESSE. The regional Council governs the affairs of Ille- de-France through its resolutions. Société du Grand Paris Public industrial and commercial undertaking ("EPIC") - 100% owned by the state Supervisory Board (representatives of the State and local authorities, 21 members). develop îledeFrance mobilités Public administrative institution << EPA >> R - Council composed of 29 members, representing « départements »>, Ile-de- France Region and the French State, -chaired by Valérie PECRESSE. RATP RATP Public industrial and commercial undertaking ("EPIC”) 100% owned by the state SNCF SNCF State-owned limited company 100% owned by the state and Authority in charge of Ensure, design and transportation in Ile-de- France Region. maintain transport networks in Region Ile-de-France. Manage, develop network operation. + maintain and the railway service Design, finance the Grand Paris Express project (200 km of metro lines, 100 % automatic; 68 stations). new It has jurisdiction over subsidies and project management in transport's sector. the Budget Finances the regional transport infrastructure (subway lines extensions, tramway lines build...) and participates in financing of Île-de-France Mobilités. the the Région îledeFrance Finances the Grand Paris Express project build of lines, stations, acquisition of rolling stock on behalf of Île-de-France Mobilités. Finances the operating of regional (operating costs transports costs from operators and investment programmes covered by contract with Ile-de-France Mobilités) Finances the company operations (purchasing of rolling stock on behalf of Île-de-France Mobilités, staff costs and energy costs). Finances the company operations (purchasing of rolling stock, staff costs and energy costs). Finance department - Investor presentation (January 2024) 59 52#53Île-de-France Mobilités : a separated budget REVENUES (2023) - €16.1Bn EXPENSES (2023) - €16.1Bn Other investment resources €1310M 8% Subsidies €202M 19 Borrowings €2803M 18% Other operating resources. €929M 6% Public subsidies Miscellaneous and exceptional €1433M Other local authorities €702M 49% Region iled France Région Île- de-France €731M 51% Région îledeFrance resources €205M 1% 9% Transport tax £5450M 34% Fares revenues €3766M 23% Investment Capital repayment €240M 2% Other investment expenses €1968M 12% Surface rolling stock. €385M 2% Railway rolling stock €1723M 11% Amortization and other operations €1113M 7% Other operating expenses €1027M 6% Operating Région Île-de-France contribution accounts for 5% of Île-de-France Mobilités revenues Finance department - Investor presentation (January 2024) RATE RATP €4776M 30% SNCF SNCF €3702M 23% Other transport operators €1176M 7% îlede France mobilités K 53#54Contacts and documentation Finance direction [email protected] Paul BERARD Deputy general manager in charge of finances [email protected] Manuel THOMAS Finance director (head of funding & treasury) [email protected] Conseil régional d'Île-de-France 2 rue Simone Veil, 93400 Saint-Ouen Région îlede France Website : https://www.iledefrance.fr/region-funding