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Investor Presentaiton

4. Appendices Appendix 1 - EPIC Bpifrance benefits from highly protected legal status EPIC Status 1. Set up by a specific Law or Decree Law required for the creation of a new category of EPIC Decree for an EPIC belonging to an existing category 2. General interest missions defined by the law With a specific object (specialty principle) With some public law prerogatives 3. Strong controls by public authorities Members of the Board of Directors appointed in whole or in part by public authorities Supervision by public authorities 4. Implicit but automatic guarantee of the State No recovery or judicial liquidation proceedings for an EPIC If an EPIC is unable to comply with its obligations, the State is legally bound to fulfill them ⚫ Solvency is protected by Law² 5. Transformation or dissolution only possible by law (Act or Decree) bpifrance • • Applicable to Bpifrance The missions and organization of the EPIC Bpifrance are defined under Act 2005-722 dated 29 June 2005, as amended and ratified, and which referred to (i) the creation of the EPIC and (ii) the transformation of the National Agency for Research Promotion (ANVAR) from a public corporation into a limited company. This Act, together with Act 2013-529 of 21 June 2013 and Act 2012-1559 of 31 December 2012, confirm the creation of Bpifrance. To promote and support innovation, most notably technological, and to contribute to technology transfer To promote the development and financing of small and medium-sized enterprises The 6 members of EPIC Bpifrance's Board of directors are appointed by the State •The Government Commissioner has the power to veto some decisions of the Board of Directors •The EPIC Bpifrance is under the supervision of both the Ministry for the Economy, Industry and Employment, and the Ministry for Higher Education and Research • EPIC Bpifrance is also classified as an Other Government Body³ or ODAC (Organisme Divers d'Administration Centrale), which means that its debt is consolidated with that of the State (under Maastricht's Rules) ⚫Bpifrance Financement SA benefits, as a subsidiary, from an explicit guarantee from EPIC Bpifrance for its bond issues. And, likewise, Bpifrance benefits from an implicit guarantee from the State The June 2005 Act was amended in 2010 and 2012 to stipulate the missions and governance of Bpifrance, and to give specific empowerment to State representatives being members of the Board Permanence of Bpifrance's Legal Status as a Public Institution 1. An EPIC (Etablissement Public Industriel et Commercial) is a legal entity that carries out commercial and industrial activities whilst also being governed by some of the rules applicable to public law entities 2. Lawn 80-539 art 1 - 16th july 1980 https://www.legifrance.gouv.fr/affichTexte.do?cidTexte=LEGITEXT000006068696&date Texte=20110729 3. https://www.insee.fr/en/metadonnees/definition/c1451 30
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