Investor Presentaiton

2% French market French home loans market Typical loan characteristics Fixed rate for the entire length of the home loan ☐ Fully amortising, not "re-advanceable" Mortgage24 34% 35% 35% 34% 32% 30% 29% Underwriting criteria primarily based on the creditworthiness of the borrower ■ Compulsory life and disability insurance Institutional guarantees available in addition to traditional mortgages Guarantee24 52% 52% 52% 53% 57% 58% 59% ■ Low delinquency ◉ Regulated product environment Other24 14% 13% 13% 13% 12% 11% 12% 2011 2012 2013 2014 2015 2016 2017 French market - home loan interest rate type Production in 2017 23 Fixed rate 7.5bp 7.1bp Floating rate and other 98% 2007 4.3bp 5.7bp 4.0bp 2008 2009 2010 2011 2012 French market - home loan security type 23 Average loss rate 25 on home loans - French market23 2013 5.5bp 2014 22 22 5.6bp 6.5bp 2015 2016 2017 6.3bp 5.9bp 4.4bp

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