Investor Presentaiton

Treasury portfolio risk management A conservative investment portfolio 3. Bpifrance Financement: Key Facts & Figures - Risk Management Breakdown of Investment Portfolio: €25,3 bn (as at June 2020) By Type of Instruments By Portfolio 3,6% Other¹ By Maturity 25% Short-term Cash2 34,2% Guarantee ~€6,2 bn 50% Commercial 1% Paper AFT³ 22% ~€5,4 bn French Govies (OAT) 40% ~€10,0 bn 75% Long-term Financing ~€10,2 bn 50% By Ratings 0% A1-Baa1 96% Aa2-Aa3 4% Aaa-Aa1 bpifrance 1. French govies (BTAN) + other bonds (agencies, banks) + NEU MTN + money market funds / 2. Excluding AFT (Agence France Trésor) cash account (~€3,7 bn) 3. Agence France Trésor (including cash account: ~€3,7 bn) 25 25

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