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Investor Presentaiton

Appendix 4 - Methodological notes (2/2) Financing Division: comprises Bpifrance Financement and its subsidiaries Investment Division: comprises Bpifrance Participations and its subsidiaries Export-Credit Insurance division: comprises Bpifrance Assurance Export RoE (Return on Equity): Financing Division Numerator: net income for the period Denominator: equity at the end of the period 4. Appendices In addition: As a result of rounding rules, the amount of the values in the tables and analyses may differ slightly from the total listed The differences between the consolidated total of certain financial aggregates at Group level and the amount of those aggregates at the operating divisions level is largely explained by intra-group operations bpifrance 45 45
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