CNP Assurances - Investor Presentation

ASSET ALLOCATION AS OF END 2019 CNP Assurances - Investor Presentation - March 2020 €337BN OF AUM EXCLUDING UL 3% 10% 2% Bonds BOND PORTFOLIO BY MATURITY (%) 59% 85% Equities Properties Others BOND PORTFOLIO BY TYPE OF ISSUER 4% 14% 26% 12% 3% < 5 years 5 to 10 years 10 to 15 years > 15 years BOND PORTFOLIO BY RATING* (%) 52% 18% 64% Sovereigns Corporates Banks 19% 19% Covered bonds 7% 2% 1% AAA AA A BBB HY NR Unaudited management reporting data at 31 December 2019 * Second-best rating: method consisting of using the second-best rating awarded to an issue by the three leading agencies, S&P, Moody's and Fitch (data excluding unit-linked contracts at 31 December 2019) 23

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