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Investor Presentaiton

1. Overview of Bpifrance Bpifrance, an ongoing intragroup merger-absorption to strengthen the capital of the bank and have a lighter group structure Current structure French Agencies State-owned Direct fully guarantee 100% on bonds EPIC Bpifrance1 Liberté Égalité Fraternité RÉPUBLIQUE FRANÇAISE GROUPE Caisse desDépôts Anticipated group structure evolution According to Ordinance 2020-7393 French Agencies State-owned Direct fully guarantee on bonds 100% Liberté Égalité Fraternité RÉPUBLIQUE FRANÇAISE GROUPE EPIC Bpifrance Caisse desDépôts 100% Bpifrance S.A. (Holding) Other² 91% 100% 9% 100% bpifrance bpifrance bpifrance FINANCEMENT > Bond Issuer INVESTISSEMENT ASSURANCE EXPORT >98% 100% Bpifrance Merger by absorption of Bpifrance SA by Bpifrance Financement bpifrance INVESTISSEMENT Other <2% > Bond Issuer 100% bpifrance ASSURANCE EXPORT Several benefits for the bond issuer... bpifrance Strengthening of the capital, CET1 ratio will be highly increased to a level above to 25% (vs. 14% today) Increasing the financing capacity to conduct general interest missions Direct ownership of the bond issuer by CDC and EPIC Bpifrance4 Comforting Bond and CP issued by Bpifrance Financement with unchanged EPIC Bpifrance guaranty Simplifying the legal structure, reducing administrative and management costs 1. EPIC status: see details in appendix 1 / 2. Bpifrance Financement is currently 9%-owned by commercial banks / 3. Ordinance No 2020-739 dated 17th June 2020 establishes a new structure: a merger by absorption of Bpifrance SA by Bpifrance Financement / 4. Sovereign ownership will increase to over 98%
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