Investor Presentaiton

2. Bpifrance Financement: Funding Strategy Bpifrance Financement issues bonds and commercial paper to refinance its loan portfolio Ownership structure 100% Liberté Égalité Fraternité RÉPUBLIQUE FRANÇAISE EPIC1 Bpifrance 3 Business lines Nature of activity Funding Own GROUPE Credit (cofinancing) account-related Debt funding Equity activities Caisse desDépôts 50% 50% Direct & explicit guarantee on bond and CP issues Bpifrance S.A. 91%2 bpifrance bpifrance FINANCEMENT Guarantee State Public allocations account-related activities Innovation The bonds and commercial paper issued by Bpifrance Financement are guaranteed by the EPIC1 Bpifrance, by way of an autonomous, unconditional and irrevocable first-demand guarantee 1. EPIC status: see details in appendix 1 / 2. Bpifrance Financement is 9%-owned by commercial banks 1125 13

View entire presentation