Investor Presentation - CNP Assurances Corporate Bond Portfolio and SCR Coverage Ratio

Impact on Equity At the transition date: Impact on equity ~-€1bn The transition should lead to a small reduction in CNP Assurances' equity of around €1bn¹ due to the reassessment of provisions under IFRS 17, which will be higher than under IFRS 4. Post transition: Reduced volatility of equity IFRS 17 mitigates the effects of changes in bond prices through the CSM's role in cushioning losses and the reduced accounting mismatch between assets and liabilities. CNP 1. Unaudited datas assurances Investor Presentation March 23 | 61

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