RESULTS

FOR THE 4TH

QUARTER AND FULL
YEAR 2024
Disclaimer NOTE
The
The financial information on Crédit Agricole S.A. and Crédit Agricole Group for the fourth quarter and full year 2024 comprises this presentation and
the attached appendices and press release which are available on the website: https://www.credit-agricole.com/en/finance/financial-publications. Crédit Agricole Group
This presentation may include prospective information on the Group, supplied as information on trends. This data does not represent forecasts
scope of consolidation
within the meaning of EU Delegated Act 2019/980 of 14 March 2019 (Chapter 1, article 1, d). comprises:
the Regional Banks, the Local
This information was developed from scenarios based on a number of economic assumptions for a given competitive and regulatory environment.
Therefore, these assumptions are by nature subject to random factors that could cause actual results to differ from projections. Likewise, the Banks, Crédit Agricole S.A. and
financial statements are based on estimates, particularly in calculating market value and asset impairment. their subsidiaries. This is the
scope of consolidation that has
Readers must take all these risk factors and uncertainties into consideration before making their own judgement.
been selected by the competent
The figures presented for the twelve-month period ending 31 December 2024 have been prepared in accordance with IFRS as adopted in the authorities to assess the
European Union and applicable at that date, and with regulations currently in force. Group’s position in the recent
Note: The scopes of consolidation of the Crédit Agricole S.A. and Crédit Agricole groups have not changed materially since the Crédit Agricole S.A. stress test exercises.
2023 Universal Registration Document and its A.01 update (including all regulatory information about the Crédit Agricole Group) were filed with the
AMF (the French Financial Markets Authority). Crédit Agricole S.A.
The sum of values contained in the tables and analyses may differ slightly from the total reported due to rounding. is the listed entity,
which notably owns
At 30 June 2024, Indosuez Wealth Management had completed the acquisition of Degroof Petercam and now holds 65% of Banque Degroof
Petercam alongside with CLdN Cobelfret, its historical shareholder, which would maintain a 20% stake in capital. As of 30 September 2024,
the subsidiaries of its business
Indosuez Wealth Management’s stake in Degroof Petercam has increased to 76%. lines (Asset gathering, Large
customers, Specialised financial
At 30 June 2024, Amundi had completed the acquisition of Alpha Associates, an independent asset manager offering multi-management investment
services, French retail banking
solutions in private assets.
and International retail banking)
As of December 31, 2024, Amundi finalized the acquisition of aixigo, a European Wealth Tech player, to complete the ALTO platform's offering.

As of December 31, 2024, Crédit Agricole S.A. has entered into financial instruments for 5.2% of Banco BPM's share capital.

2 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 Key messages and figures

3 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 ALL FINANCIAL TARGETS OF 2025 AMBITIONS PLAN EXCEEDED IN 2024

2025 Targets 2024 Crédit Agricole S.A. underlying net income Group share vs MTP targets

Net income Group

share > €6bn ✓ €7.2bn Bn€
underlying

✓
ROTE
underlying > 12.0% 14.0% 7.2

Underlying >6
cost/income ratio excl. < 58.0% ✓ 54.4%
SRF
>5 5.4

CET 1 11.0% ✓ 11.7%

> 4.2
4.6
3.2(2)
Dividend (1)
Distribution 50% in ✓
cash €1.10/share
2016 MTP 2019 MTP 2021 MTP 2024
2020 2022 2025

(1) Proposed 2024 dividend submitted for the approval of the 2025 General Meeting
(2) Pro forma of the simplification of the capital structure (Eureka)

4 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CONTINUED STRONG EARNINGS MOMENTUM IN 2024

• Strong increase in quarterly and full-year earnings

• Record quarterly and full-year revenues
• High profitability
• Solid capital and liquidity positions
• Proposed 2024 dividend increase to €1.10 per share (+5% vs 2023)
• Capital operations: conclusion of financial instruments relating to 5.2% of Banco BPM’s share
capital and signing of an agreement for the acquisition of 30.5% Santander’s stake in CACEIS

Crédit Agricole S.A. Crédit Agricole S.A. Crédit Agricole S.A. Crédit Agricole S.A. Crédit Agricole S.A.

€7.1bn €1.7bn 14.0% 11.7% €1.10

Net income Group Net income Group Underlying ROTE (1) Phased-in CET1 2024 dividend
share 2024 share Q4-2024 per share (2)

+11.6% 2024/2023 +26.6% Q4/Q4 2024 December 2024

1. Underlying ROTE calculated on the basis of annualised underlying net income Group share and linearised IFRIC costs over the year
2. Proposed 2024 dividend submitted for the approval of the 2025 General Meeting

5 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 KEY FIGURES

CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A.

2024 4TH QUARTER 2024 2024 4TH QUARTER 2024

Net income Group Net income Group

share
€8,640m €2,149m share €7,087m €1,689m
+4.6% 2024/2023 +24.6% Q4/Q4 +11.6% 2024/2023 +26.6% Q4/Q4
stated stated

Revenues €38,060m €9,817m Revenues €27,181m €7,092m

stated +4.3% 2024/2023 +11.9% Q4/Q4 stated +7.9% 2024/2023 +17.4% Q4/Q4

Gross Operating Gross Operationg

Income €15,332m €3,954m Income €12,286m €3,175m
stated +6.4% 2024/2023 +28.0% Q4/Q4 stated +11.3% 2024/2023 +36.2% Q4/Q4

Underlying Underlying
cost/income
59.5% 27 bp CoR/outstandings
cost/income
54.4% 34 bp CoR/outstandings
-0.6 pp 12M/12M +1 bp Q4/Q3 4 rolling quarters -1.0 pp 12M/12M +3 bp Q4/Q3 4 rolling quarters
ratio (1) ratio (1)

CET 1 17.2% €473bn Liquidity CET 1 11.7% 14.0% ROTE

Phased-in -0.2 pp Dec./Sept. +1.5%Dec./Sept reserves Phased-in stable Dec./Sept +1.4 pp 12M/12M Underlying (2)

1. Underlying data, details of specific items available on pages 46 and 81; 12M/12M change excl. SRF
2. Underlying ROTE calculated on the basis of annualised underlying net income Group share and linearised IFRIC costs over the year

6 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 Crédit Agricole S.A.
Q4-24 Summary

7 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A.

ACTIVITY

STRONG ACTIVITY IN ALL BUSINESS LINES

Change Dec. 24/Dec. 23

New customers +1,900,000 gross

(2024) +214,000 net
Strong performance by retail banking and consumer
finance On-balance France (CR + LCL): 771 (+1.8%)
sheet deposits in Italy: 66 (+0.5%)
• Continued upturn in Q4 in home loan activity in France (+18%) retail banking
(€bn) Total: 837 (+1.7%)
and increase in corporate loan production
Loans
• International loan activity still dynamic outstanding
France (CR + LCL): 817 (+0.3%)
Italy: 62 (+1.7%)
• Consumer finance activity stable at a high level retail banking
Total: 880 (+0.4%)
(€bn)
• Stabilisation of the deposit mix confirmed in France
Property and
43.9% (+0.8 pp) Regional Banks
casualty
27.9% (+0.4 pp) LCL
insurance
20.0% (+1.2 pp) CA Italy
Record level of activity in CIB, asset management and equipment rate(1)
insurance Wealth management: 279 (+46.9%)
Assets
• Record premiums in insurance driven by all activities. under Life insurance: 347 (+5.1%)
management Asset management: 2,240 (+10.0%)
• High level of net inflows and record level of assets under (€bn) Total: 2,867 (+12.1%)
management
Consumer
• A new quarterly and full-year record reached in CIB finance Total: 119 (5.6%)
outstandings Of which Automotive(2): 53% (stable)
(€bn)

# 2 Syndicated loans in France and EMEA

# 3 All Bonds in EUR Worldwide
1. Car, home, health, legal, all mobile phones or personal accident insurance. Source: Refinitiv
2. CA Auto Bank, automotive JVs and automotive activities of other entities.

8 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

REVENUES

REVENUES AT HIGH LEVEL, WITH A STRONG INCREASE

Q4/Q4 change in revenues, by business line (€m) Q4 underlying revenues (€bn)

+17.4% +18.2%
+€1,052m +€1,095m

+357 7,092 7,116

+35 7.1
+173
+491
+6.5%
(4)
CAGR
6,040 6.0 6.0*
6,021 CAPFM: Q4/Q4 5.8
Good positive price dividend and
performance of Stability in
effect France and valuation of 5.2 5.3
the business lines BBPM shares
Italy 4.8 4.8
(+€294m)
4.6
Performance driven by the increase in outstandings
Favourable base effect (high weather-related claims) 4.0
Integration of Degroof Petercam (+€158m)

Q4-15 Q4-16 Q4-17 Q4-18 Q4-19 Q4-20 Q4-21 Q4-22 Q4-23 Q4-24
Q4-23 Q4-23 stated Asset gathering Large SFS Retail banking Corporate Q4-24 stated Q4-24
underlying customers centre underlying
* Q4-23 impacted by the transition to IFRS17 and strong climate events

AG: Asset gathering; LC: Large customers; SFS: Specialised financial services; RB: Retail banking; CC: Corporate Centre

Underlying data, breakdown of specific items available on page 46

9 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

EXPENSES

SUPPORT FOR BUSINESS LINES’ DEVELOPMENT, LOW COST/INCOME RATIO AT 54.4% (2024)

Q4/Q4 change in expenses, by business line (€m) Breakdown by nature of costs (€m)

+5.6% +4.4% Recurring +3.0%

+€208m +€164m expenses +€108m
+89
+203 3,917 3,878
3,714 3,710 (2) (67)
-16
+132
+208
Scope effect and -61
integration costs of +88
Degroof Petercam CA Italy: positive +29
(+€133m (1)) base effect for the
deposit guarantee
fund (-€61m)

+89 -68

Q4-23 Q4-24 stated Asset gathering Large SFS Retail banking Corporate Q4-24 stated Q4-24 Q4/Q4 stated Scope effect (2) Integration Taxes base Staff costs IT investments Others
expenses costs (3) effect (4)
underlying customers centre underlying

AG: Asset gathering; LC: Large customers; SFS: Specialised financial services; RB: Retail banking; CC: Corporate Centre

Underlying data, breakdown of specific items available on page 46 Provision for variable
compensation (+€28m)
1. Q4/Q4 scope effect +€120m and Q4/Q4 integration costs +€13m
2. Q4/Q4 scope effect: Degroof Petercam (+€120m) and various others
3. Q4/Q4 integration costs: ISB (CACEIS) +€1m and Degroof Petercam +€13m and various others

10 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A.

RISKS

PROVISIONING DRIVEN BY ALLOCATIONS ON PERFORMING LOANS

Crédit Agricole S.A. underlying cost of risk (€m) Cost of risk by business line Cost of risk/outstandings(1) (bp)
440 594
35.0% CC; 1%
CC; 3%
LC; 9%
LC; 16%
594 Crédit Agricole Group
18 25 25 26 27
o/w model revision IRB; 23% 25
424 IRB; 17%
440 433 (CACIB, CAPFM) and
380 7 278 reclassification of
66 38
1 5 provisions (CACIB, LCL) LCL; 13%
LCL; 22%
Crédit Agricole S.A.
491
33 33 34
373 384 388 32 32
297

SFS; 52%
-8 SFS; 42%
-31
-37
Q4-23 Q1-24 Q2-24 Q3-24 Q4-24
Q4-23 Q1-24 Q2-24 Q3-24 Q4-24
S3 CoR* S1&S2 CoR Others Total CoR Q4-23 Q4-24

CRÉDIT AGRICOLE S.A. CRÉDIT AGRICOLE GROUP

Cost of 34 bp(1) Loans loss Cost of 27 bp(1)

€9.6bn €21.3bn Loans loss
risk/outstandings 44 bp(2) reserves risk/outstandings 29 bp(2) reserves

NPL Ratio 2.3% 74.1% Coverage NPL Ratio 2.1% 84.9% Coverage
-0.2 pp vs Q3-24 +2.7pp vs Q3-24 ratio -0.1 pp vs Q3-24 +2.1pp vs Q3-24 ratio

AG: Asset gathering; LC: Large customers; SFS: Specialised financial services; IRB: International Retail banking; CC: Corporate Centre
1. Cost of risk for the last four quarters divided by the average of the outstandings at the start of all four quarters of the year.
2. Annualised CoR/outstandings: cost of risk for the quarter multiplied by four divided by the outstandings at the start of the current quarter.

11 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A.

RISKS

COST OF RISK BY BUSINESS LINE

Cost of risk/outstandings(1) (bp)

127
121
117 ➔ CAPFM: provisions of €50m (model revision) with €30m in
CAPFM 114 112
legal provisions (o/w UK car loans). Excluding legal
55 55 50
provisions CoR/outstandings stable vs 2023.
44 40
CA Italia
➔ Retail banking in Italy: increase in portfolio quality.
21 22 23 22
18
LCL ➔ Retail banking in France: stable CoR/outstandings,
against a backdrop of a deterioration for SMEs and
18 19 20 21 20 professionals.
Regional Banks

9
➔ Crédit Agricole CIB: provisions for performing loans
7
Financing activities
5 2 1 related to the models’ update. Low level of CoR over the
last few quarters.
Q4-23 Q1-24 Q2-24 Q3-24 Q4-24

1. Cost of risk for the last four quarters divided by the average of the outstandings at the start of all four quarters of the year.

12 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

RESULTS

VERY GOOD RESULTS

Q4/Q4 change in Net income Group share by business line (€m) Annual change in Net income Group share by P&L lines (€m)

Gross operating income +11.3%

+26.6% +32.8% +€1,247m +11.6% +21.1%
+€355m +€427m €738m €1,249m
+2,001

+236 1,689 1,730 (73) (271) 7,087 7,172

(754) (164)
+149 +77 6,348
5,923
1,303 1,334
(13) (93)

CA Italy: Dividend
1,540 Very good High cost and
operational High level of positive base
performance results with a
of risk effect of the valuation of
deposit BBPM
of the normalisation shares
business lines of the cost of guarantee
fund (+€61m) +€288m
risk

Q4-23 Q4-23 stated Asset gathering Large SFS Retail banking Corporate Q4-24 stated Q4-24 2023 underlying 2023 stated Revenues Operating Cost of risk Tax Other 2024 stated 2024 underlying
underlying customers centre underlying expenses

AG: Asset gathering; LC: Large customers; SFS: Specialised financial services; RB: Retail banking; CC: Corporate Centre
Underlying data, detail of specific items available on page 46

13 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

STRONG FINANCIAL POSITION – CRÉDIT AGRICOLE S.A.

GOOD LEVEL OF SOLVENCY RATIO (TARGET AT 11%)

Change in phased-in CET1 ratio (bp) Change in RWA by business line (€bn)

+3,2%
+€12,9Bn
+19 bp
11.7% 11.7%
-12 bp
-13 bp + 7.4 + 0.4 415
+ 4.3
402 + 2.1 12
Distribution: €0.27
11 -1.2
Rating effect Consolidation of
2024 payout at 50% -10 bp CIB: growth in business
leasing activities Consolidation 42
lines; unfavourable
(Basel 4) -12 bp LCL rating
41 Insurance of leasing exchange rate (+€2.7bn) and
effect
-€1.2bn activities ratings effects (+€1.5bn)
+€1.9bn (Basel 4)
benefiting from
the interim +€4.2bn
dividend
361
350

Sept. 24 Retained result Business lines Regulatory effects, Dec. 24

organic growth M&A and others Sept. 24 RB AG SFS LC CC Dec. 24

Credit risk Operational risk Market risk

CET1 DIVIDEND LEVERAGE RATIO

11.7% €1.10/share 3.9%

Stable vs Q3-24
12m-24 +0.1 pp vs Q3-24
+3.0 pp vs SREP
requirement +5 cts vs 12m-23 +0.9 pp vs requirement
AG: Asset gathering; LC: Large customers; SFS: Specialised financial services; RB: Retail banking; CC:
Corporate Centre

14 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE GROUP

STRONG FINANCIAL POSITION – CRÉDIT AGRICOLE GROUP

VERY HIGH CAPITAL

Change in phased-in CET1 ratio (bp) Change in RWA by business line (€bn)
+2,8%
+€17,5Bn
17.4% +25bp ​
​ 17.2%
-28bp -14bp + 6.9 + 4.4 + 7.3 + 0.2 653
636 12
12
-1.3 66
65
Rating effect
-15 bp LCL and RB rating
effect +€4.1bn

559 575

Sept. 24 Retained result Business lines Regulatory effects, Dec. 24

organic growth M&A and others Sept. 24 Retail AG SFS LC CC Dec. 24
Banking

Credit risk Operational risk Market risk

CET1 LEVERAGE RATIO TLAC/RWA MREL/RWA

17.2% 5.5% 26.9% 32.4%

-0.2 pp vs Q3-24
stable vs Q3-24 -0.4 pp vs Q3-24 -0.5 pp vs Q3-24
+7.4 pp vs SREP
requirement +2.0 pp vs requirement +4.6 pp vs requirement +6.0 pp vs requirement
AG: Asset gathering; LC: Large customers; SFS: Specialised financial services; RB: Retail banking; CC:
Corporate Centre
15 FOURTH QUARTER AND FULL YEAR 2024 RESULTS
 CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A.

STRONG FINANCIAL POSITION – CRÉDIT AGRICOLE GROUP

STRONG LIQUIDITY POSITION

Liquidity reserves (€bn) Customer deposits (€bn)

by nature by type of customers

3%
17% 10%

€1,152bn
22%
€1,152bn 50% +2% vs. Sept 24

33% 65%

Sight deposits Individuals/SMEs - including 100% of regulated passbooks

Time deposits (incl. PEL) Corporates
Regulated passbooks (Livret A, LEP, LDD) Financial institutions
Sovereign, Public sector

31/12/2024 CASA CAG CAG Growth of diversified and granular customer deposits

• 37m retail banking customers, o/w 27m individual customers in France

LCR 131% 127% • ~60% (5) of guaranteed deposits in retail banking in France

Stable
NSFR >100% >100% €177bn Resources 1. Receivables eligible for central bank refinancing providing access to LCR compliant resources
2. Available securities, at market value after haircut
Position 3. Of which €1bn eligible in Central Bank
4. Excluding cash (€4bn) & mandatory reserves (€12bn)
5. Customers (individuals, professionals, corporates) LCL and Regional Banks

16 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

INCOME STATEMENT

M€ Q4-24 Q4/Q4 12M-24 12M/12M

Revenues 7,092 +17.4% 27,181 +7.9%

Operating expenses (3,917) +5.6% (14,895) +9.3% excl. SRF

Gross operating income 3,175 +36.2% 12,286 +11.3%

Cost of risk (594) +35.0% (1,850) +4.1%

Equity-accounted entities 62 +2.4% 194 -1.5%

Net income on other assets (9) -45.9% (4) n.m.

Income before tax 2,634 36.0% 10,625 +11.3%

Tax (681) +84.7% (2,472) +12.3%

Net income Group Share stated 1,689 +26.6% 7,087 +11.6%

Spécific items (41) (86)

Net income Group Share underlying 1,730 +32.8% 7,172 +21.1%

17 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CONTINUED SUPPORT OF TRANSITION

A transition plan based on three complementary and well-structured priorities:

1 Accelerating the development of

renewable and low-carbon energy by
2 As a universal bank,
supporting energy
3 Structuring our exit trajectory from
the financing of carbon-based energy
focusing our financings on renewable transition for all: the
and low-carbon energy projects equipment of all corporates
and households

Low-carbon Investments in low- Installed renewable Green loans (3) Electric or hybrid Oil & gas Power Automotive
energy(1) financing carbon energy(2) energy capacity vehicle share
(CAA)
-70% -29% -21%
€26.3bn €6bn 14 GW €21.7bn 37% Financed emissions Intensity of financed
emissions
Intensity of financed
emissions
31/12/2024 31/12/2024
31/12/2024 31/12/2024
Among new vehicles
financed in 2024 2030 target 2030 target 2030 target
+141% +166% 2025 target +75% 2025 target: 50% -75% (4) -58% (4) -50% (4)
2024/2020 2024/2020 14 GW 2024/2022 (CAPFM)

1. Low-carbon energy outstandings made up of renewable energy produced by the clients of all Crédit Agricole Group entities, including nuclear energy outstandings for Crédit Agricole CIB.
2. Portfolios of CAA (listed securities, listed securities under mandate, and unlisted securities) and of Amundi Transition Energétique
3. Crédit Agricole CIB green asset portfolio, in line with the eligibility criteria of the Group Green Bond Framework published in November 2023.
4. Reference year: 2020 – Scope of Power sector: Crédit Agricole CIB and Unifergie (Crédit Agricole Transitions & Énergies).
18 FOURTH QUARTER AND FULL YEAR 2024 RESULTS
 EVOLUTION OF CREDIT AGRICOLE GROUP ENERGY MIX

Financing of energy sector: evolution of fossil fuels extraction and low-

Impact of our progressive reallocation strategy(2)
carbon energy outstandings(1) (€bn)

30

25
26,3 +141%

20

15
19,7 For €4 disengaged on
10,9 fossil fuels extraction
10
9,4
5 7,5 5,6 -40%
0
2020 2023 2024
€14 allocated to
Fossil fuels extraction - Low-carbon energy
low-carbon energy
Evolution of the relative share of fossil fuels extraction outstandings
vs. low-carbon energy outstandings(1)

18%
46%
2020 2024

54% 82%
1. Low-carbon energy outstandings made up of renewable energy produced by the clients of all Crédit Agricole Group entities, including nuclear energy outstandings for Crédit Agricole CIB.
2. Scope: Crédit Agricole Group financing

19 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 Roll-out of strategic plan

20 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A., A GROWTH STORY SUPPORTED BY ITS ORGANIC
DEVELOPMENT...

Market Shares CA Group in France

30% 30% 30% Historical data

28% Latest available market share
27% 27%
23%
Equipement rate

20% 19%
+1,9 million
15% 15%
new customers per year(4)
14%

7%
6%
4% New
2% Businesses

Offer

1. Market shares 2017 and 2024: household loan market share Regional Banks and LCL (sources: BdF and internal); payment (in number of transactions, sources: BdF and internal)
2. Market shares 2018 and 2024: French domicilied funds sold in France (all customer segments) - Europerformance
3. Market shares 2017 and 2023: insurance (L’Argus de l’assurance and France Assureurs) and property services
4. Annual average since 2022 (gross customer capture)

21 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 ...ROUNDED OUT BY A SERIES OF SELF-FINANCED AND VALUE CREATING
TRANSACTIONS
2019-2021 Successful past acquisitions
€3.3bn in acquisitions
~ €1.3bn in revenues (1)
2021 2021 2020 2019 2019
~ 52% cost/income
ratio (1)

Recent partnerships
2022-2024 Recent acquisitions
and stakes acquired

Consolidation of business European activities of RBC

Investor Services
lines and strengthening
Purchase of the minority
expertise in France and in interests
Europe of Santander

€7.2bn (2) in
Extension of retail
networks via partnerships acquisitions and
partnerships
In six European countries
Shift for Mobility
on the European scale €1.4bn (3) in disposals

~ €3.0bn in revenues (1)

Support for societal
transitions

Digitalisation and
Innovation /
1. Economic value in 2025 2. Purchase price of transactions carried out since 2022 Includes the stakes acquired in Banco BPM and Worldline. 3. Disposal of Crédit du Maroc, La Médicale and Crédit Agricole Serbia and others

22 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

A BALANCED, DIVERSIFIED AND REGULAR GROWTH MODEL

Regular and dynamic growth in revenues Continuous improvement of operational efficiency

-15 pp

69.4%
27.2
+5.6% 64.9%
CAGR 24.6
23.7 62.8% MTP target
62.1%
22.7 61.0% <58%
59.6%
20.8 57.8% 58.2%
20.3
19.7 55.4%
18.8 54.4%
17.5
16.7

FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Underlying revenues – from 2017 to 2022 under IFRS 4, as of 2023 under IFRS 17
CASA underlying C/I ratio excluding SRF

23 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

HIGH PROFITABILITY ALLOWING ATTRACTIVE SHAREHOLDER

COMPENSATION

Underlying ROTE (1) at its highest since 2015 Dividend per share (€) tripled in 10 years

x3.1

14.0% 1.10
13.1% 1.05 1.05 1.05
12.7% 12.6% 12.6%
11.9% 0.20 0.20
11.1%
10.4% 0.80
9.3%
MTP target >12% 0.69 0.70
8.6% 0.60 0.63
0.60 0.30

0.35 0.85 0.85

0.50

2014** 2015** 2016** 2017** 2018 2019 2020 2021 2022 2023 2024***
(2) (3)
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Dividend at end-December 2019 dividend catch up

(1) Underlying ROTE calculated on the basis of underlying net income Group share (see appendices pages 46, 47 and 48)
(2) Before “Operation Eureka” Group simplification **excl. 10% loyalty dividend
(3) First year after “Operation Eureka” Group simplification *** subject to approval by the 2025 General Meeting

24 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 Crédit Agricole S.A.
Business lines

25 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

AG – INSURANCE

Savings/Retirement Property and personal insurance (1)

Net inflows (€bn) Premium income (€bn)

5.3%
+2.4
Q4/Q4
+0.5
+1.6
Contribution to earnings Q4-24 ∆ Q4/Q4 2024 ∆ 2024/2023
+1.1
(in €m) stated stated stated stated
+0.8 +9,9%
+1.8
+1.4 1.2 1.2 Revenues 715 +37.1% 2,845 +11.9%
+0.9 1.1

(1.3)
Gross operating income 638 +42.9% 2,504 +12.2%
1.3 1.3 1.3 +1,3%
Net income Group Share 418 +24.5% 1,884 +14.0%

Q4-23 Q3-24 Q4-24 Q4-23 Q3-24 Q4-24

Death & disability / Creditor / Group Property & Casualty
In Eutros Unit-linked

Record Q4-24 premiums at €10.9bn and annual premiums at €43.6bn Revenues(4) for Q4/Q4 up, benefiting from a positive base effect (Q4-23
having been strongly impacted by weather events compared to Q4-24
Savings/Retirement: bonus campaigns success and digitisation of customer journeys
benefiting from low claims) as well as from the strong activity and
• Gross inflows: €8.3bn (+17% Q4/Q4), strong growth in France and internationally, UL rate
increase in outstandings
in gross inflows of 37.4%
• Outstandings (2): €347.3bn (+5.1% Dec./Dec.), driven by market effects and net inflows; CSM: €25.2bn (+5.8% Dec./Dec.); new business contribution higher
UL rate in outstandings of 30.0% (+1.1 pp Dec./Dec.) than CSM allocation; positive impact of stock revaluation. Allocation
• Policy-holders rate for life insurance contracts stable compared to 2023 (3) factor of 7.7%
Property and casualty: performance driven by prices and portfolio growth Combined ratio (5) 94.4% at end-Dec. 2024 (-2.7 pp year-on-year), in
• Portfolio of 16.7 million contracts, up by +5.3% year-on-year line with a positive base effect (low claims in 2024 compared to 2023
• Increase in average premium: pricing revisions and evolution of the product mix impacted by weather events in Q3-24)

Personal insurance: good Q4/Q4 momentum in individual death & disability insurance Solvency 2 ratio at end dec. 24 >200%; PPE stock at €7.5bn (3.3% of
(+9.9%) and group insurance (+22.1%) offsetting a decline in creditor insurance (-4.9%) outstandings in euros)
4. Q4-24 revenues including revenues of €540m for savings/retirement and funeral insurance, €93m for
1. Death and disability, creditor, group insurance personal insurance and €141m for property and casualty insurance (net of reinsurance cost).
2. Savings, retirement and funeral insurance. 5. Combined property & casualty ratio in France (Pacifica) including discounting and excluding undiscounting,
3. Can reach up to 3.85% for the Anaé contract with a UL rate > 50% and benefiting from management fees of 0.5% net of reinsurance: (claims + operating expenses + fee and commission income)/gross premiums earned.
Undiscounted ratio: 96.4% (-4.3 pp year-on-year)

26 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

AG – ASSET MANAGEMENT (AMUNDI)

Assets under management (in €bn)

10.0% Contribution to earnings Q4-24 ∆ Q4/Q4 2024 ∆ 2024/2023

(in €m) stated stated stated stated
2.2%
Revenues 901 +14.5% 3,406 +9.1%
+ 28.1 2,240
2,192 + 11.5 + 7.1 + 1.9
2,037 Operating expenses (506) +16.2% (1,890) +8.8% excl. SRF
360 ​ 372
316
JVs Gross operating income 395 +12.5% 1,516 +9.7%

+€20.5bn Equity-accounted entities 29 +1.8% 123 +20.9%

1,151 1,162
1,110 Institutionals Net income 341 +18.0% 1,274 +12.4%

Net income Group Share 226 +16.2% 849 +11.7%

681 706 Retail Cost/Income ratio (%) 56.1% +0.8 pp 55.5% -0.2 pp excl. SRF
611

Dec. 23 Sept. 24 Retail Institutionals JVs Market/Forex Dec. 24

effect

New record of assets under management: €2,240bn, thanks to the strong inflows and Revenues: driven by the increase in management fees (+13.5%
positive market effect, in Q4-24 and for the full year Q4/Q4), linked to the evolution of average assets under
management; good level of performance fees; technology revenues
Net inflows of +€20.5bn this quarter (+€55.4bn over the year), the highest since 2021,
up (+47% Q4/Q4), benefiting from the integration of aixigo and
driven by MLT assets (+€17.9bn at Q4-24) and JVs
strong organic growth
• Retail: high inflows from third-party distributors (record in 2024), diversified across all
asset classes Expenses: positive jaws effect excluding integration costs(1); Q4/Q4
• Institutional: inflows driven by MLT assets from institutional and sovereign customers, change explained by variable compensation (increase in revenues),
in treasury products in the segment for corporates integration of acquisitions (Alpha Associates and aixigo) and
acceleration of strategic investments
Amundi Technology: acquisition of aixigo, European leader in Wealth Tech
1. Q4-24 : -€14m of integration costs related to the acquisition of aixigo and partnership with
Victory Capital (expected to be finalized in Q1-25)

27 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

AG – WEALTH MANAGEMENT (INDOSUEZ WEALTH MANAGEMENT)

Assets under management waterfall over the quarter (in €bn)

Contribution to earnings Q4-24 ∆ Q4/Q4 2024 ∆ 2024/2023
68.2% (in €m) stated stated stated stated

2.6% Revenues 430 +73.9% 1,397 +36.6%

Operating expenses (347) +60.4% (1,134) +37.5% excl. SRF

+ 3.7 215
209 + 1.9
Gross operating income 82 x 2.7 264 +35.0%

Net income on other assets (0) (91.8%) (23) x 4.6

128
Net income Group Share 51 x 3.3 142 +11.1%

Cost/Income ratio (%) 80.8% -6.8 pp 81.1% +0.5 pp excl. SRF

Dec. 23 Sept. 24 Net Inflows Market/Forex Dec. 24

effect

Sustained activity over the quarter Revenues benefiting from the integration of Degroof Petercam (1) and
• Strong inflows this quarter over almost all regions; high annual net inflows of €6.2bn. the good trend of fee and commission income, in line with the increase
in assets under management, offsetting the anticipated drop in the
• Positive market effect this quarter and over the year
NIM on deposits
Expenses slightly down excluding scope effect (1) and integration
Continued integration of Degroof Petercam
costs(2); cost/income ratio of 77.8% excluding integration costs (2)
• Several capital reorganisations carried out in France and Luxembourg in Q4
2024. Merger of the remaining legal entities planned for Q3 2025. Net income Group share of €60m after restatement of the impact of
integration and acquisition costs (3)
• Integration costs of around ~€70-80m expected in 2025

1. Degroof Petercam data for the quarter included in Wealth Management results: Revenues of €158m and
expenses of -€120m (excluding integration costs partly borne by Degroof Petercam)
2. Q4-24 integration costs: -€12.8m (impacting the operating expenses line); -€26.4m in 2024
Breakdown of Indosuez Wealth Management and LCL Banque Privée AuM available in appendix. 3. Acquisition costs of +€0.8m in Q4-24, -€22.2m in 2024 (impacting the gains or losses on other assets)

28 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

LARGE CUSTOMERS – CORPORATE AND INVESTMENT BANKING

Underlying revenues(1) (€m)

Contribution to earnings Q4-24 ∆ Q4/Q4 2024 ∆ 2024/2023
+9.9% Var (in €m) stated stated stated stated
Var +6.5%
6,540 12m/12m
Q4/Q4
6,140 574 Revenues 1,573 +7.7% 6,568 +7.6%
1,596 462
+24.2%
1,452 123
+23.0% Operating expenses (902) +6.3% (3,528) +5.4%
100 excl. SRF
2,611 +4.2%
2,505
Investment 576 Gross operating income 671 +9.7% 3,040 +22.3%
492 +17.0%
Mkts banking
Capital markets
1,188
1,193
+0.4%
Cost of risk (86) x 2.7 (93) (16.2%)
328 345
+5.0%
Structured Net income Group Share 437 (7.1%) 2,152 +22.7%
Fin finance 2,162
1,985
532 553 +4.0% +8.9%
Commercial Cost/Income ratio (%) 57.4% -0.8 pp 53.7% -1.1 pp excl. SRF
banking & other
Q4-23 Q4-24 2023 2024

#4 – All Bonds in EUR Worldwide (2) #1 – Syndicated loans in France (2)

#2 – EUR Green, Social & Sustainable bonds (3) #2 – Syndicated loans in EMEA (2)

Revenues: best level recorded in Q4 and over 2024, with balanced

Capital markets and investment banking: +18.0% Q4/Q4 underlying (1). Maintained growth over the year between the corporate banking and investment
high level of revenues driven by the repo and securitisation activities. Good banking activities
performance of structured equities Expenses: increase due to IT investments and growth in business
lines
Financing activities: +4.4% Q4/Q4 underlying (1). Continuation of strong commercial
Annual cost/income ratio contained and below the MTP target
activity in Corporate activities, especially Telecom. Good performance of assets and
(<55%)
projects financing (Green energy, Aeronautics)
Cost of risk: provisions driven by model effects; overall level still low
with a cost of risk/outstandings(4) of 7 bp
RWA: €136.9bn at end-December 24 +€8.3bn vs Sept-24 especially
1. Underlying revenues adjusted for the following non-recurring items: DVA and loan book hedging representing -€23.7m in Q4-24 vs due to an unfavourable exchange rate and rating impact
+€7.8m in Q4-23 and +€28.5m in 2024 vs -€38.9m in 2023
2. Refinitiv LSEG 4. Cost of risk for the last four quarters divided by the average of the outstandings at the start of all four
3. Bloomberg in EUR quarters of the year

29 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

LARGE CUSTOMERS – ASSET SERVICING (CACEIS)

Assets under custody – AUC (€bn) Assets under administration – AUA (€bn) Contribution to earnings Q4-24 ∆ Q4/Q4 2024 ∆ 2024/2023
(in €m) stated stated stated stated
+3.0%
+12.1% Revenues 535 +12.7% 2,083 +24.2%

Operating expenses (396) +9.8% (1,511) +30.1% excl. SRF

Gross operating income 139 +21.7% 572 +20.4%

Cost of risk (7) (1.6%) (24) x 2.8

Equity-accounted entities 7 +46.4% 25 +21.5%

5,291 3,386 3,397

5,061 3,299 Net income Group Share 75 +36.4% 296 +15.1%
4,718
Cost/Income ratio (%) 74.0% -1.9 pp 72.6% +3.3 pp excl. SRF

Dec. 23 Sept. 24 Dec. 24 Dec. 23 Sept. 24 Dec. 24

Revenues driven by growth in fee and commission income (increase

Assets under custody and administration up year-on-year, benefiting from in assets over the period) and favourable trend in NIM
commercial momentum and favourable market effects. Up this quarter despite the
last planned exits of ISB customers Expenses +9.3% Q4/Q4 excluding ISB integration costs(1) (-€27m in
Q4-24 vs -€25m in Q4-23) and excluding the impact of consolidating
Settlement/delivery volume +6% Q4/Q4 (excluding ISB) the last ISB entities (-€3m). Increase related to IT expenses and
Integration of ISB: customer migration nearly completed business growth
Signature of an agreement for the acquisition by Crédit Agricole S.A. of Cost/income ratio at 69.0% excluding ISB integration costs
Santander’s 30.5% stake in CACEIS

1. ISB integration costs: -€97m over 12m-24

30 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

SFS – PERSONAL FINANCE AND MOBILITY

∆ Q4/Q4 ∆ 2024/2023 ∆ 2024/2023

Gross managed loans (€bn) Consolidated loans outstanding (€bn) Contribution to earnings Q4-24 2024
(2)
(in €m) stated stated stated stated underlying
excluding base
effect

+5.6% Revenues 722 +4.5% 2,764 (4.3%) +6.8%

116.8 119.3 ∆ Dec./Dec.

Operating expenses (347) (0.7%) (1,382) +7.0% +8.2% excl. SRF
113.0
Other
23.7 entities CAPFM Gross operating income 375 +9.9% 1,382 (12.8%) +6.4%
CA Group 22.5 23.4 +5.3%
11.8 12.8 France
(LCL & RBs) Cost of risk (286) +68.4% (877) +8.6% +21.3%

44.7 46.6 48.4 Equity-accounted entities 45 +9.7% 133 (0.8%) (22.9%)

Automobile +8.2% Consolidated
(CA Auto Bank + loans
partnerships 2024: Net income Group Share 74 (56.2%) 422 (37.5%) (15.4%)
auto) 17.7
€69.1bn
Other entities Cost/Income ratio (%) 48.1% -2.5 pp 50.0% +5.3 pp +0.7 pp excl. SRF
46.8 47.3 26.7
45.8 +3.2% CA Auto
Agos
Bank

Dec. 23 Sept. 24 Dec. 24

Revenues: positive price effect Q4/Q4; increase in the production

margin rate of +75 bp Q4/Q4 (and +31 bp Q4/Q3), as well as non-
Production -2.9% Q4/Q4 at €11.7bn, a drop especially linked to the Chinese market; car
recurring items for ~€30m in Q4-24
financing(1) representing 50.2% of total production
Expenses down by -1.9% excluding the base effect of Q4-23(4)
Average customer production rate up by +5 bp Q4/Q3
Cost of risk/outstandings (3) at 127 bp declined by +6 bp Q4/Q4,
Managed loans up over the three sectors and mainly driven by the automotive industry
models review essentially leading to a downgrading of unproven risk (-
with Crédit Agricole Auto Bank and Leasys; consolidated outstandings +3.3% Q4/Q4
€50m) and provision for legal risk (-€30m) o/w UK car loans
Finalisation of the acquisition of 50% of GAC Leasing in China (January 2025)
Equity accounted entities up including ~€14m of non-recurring items
Net income Group share -11.7% Q4/Q4 excluding Q4-23 base
effect (4) and excluding the legal risk provision and models review in
Q4-24
2. 12M-23 base effect linked to the reorganisation of Mobility activities (revenues €300m, expenses -€14m,
cost of risk -€85m, equity-accounted entities -€39m, income on other assets €89m, Change in the value of
goodwill +€12m, corporate tax -€87m, net income Group share €176m)
3. Cost of risk for the last four quarters divided by the average of the outstandings at the start of all four
quarters of the year
4. Q4-23 base effect linked to the reorganisation of the Mobility activities (Expenses +€4m, Changes in value
1. CA Auto Bank, automotive JVs and auto activities of other entities of goodwill +€12m, corporate tax +€1m and net income Group share +€17m)

31 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

SFS – LEASING & FACTORING

Leasing outstandings (in €bn) Contribution to earnings Q4-24 ∆ Q4/Q4 2024 ∆ 2024/2023
(in €m) stated stated stated stated

+7.2% Revenues 193 +1.9% 756 +6.8%

∆ Dec./Dec.
Operating expenses (100) +0.4% (398) +4.3% excl. SRF
20.1 20.3
18.9
4.2 4.3 Gross operating income 93 +3.5% 358 +15.1%
3.9 +12.3%
International
Cost of risk (20) +40.1% (81) +29.7%

France Net income Group Share 50 +1.7% 203 +15.0%

15.1 15.9 16.0
Cost/Income ratio (%) 51.7% -0.8 pp 52.6% -1.2 pp excl. SRF
+5.9%

Dec. 23 Sept. 24 Dec. 24

Leasing: production +15.7% Q4/Q4 driven by real estate leasing and renewable Revenues up driven by factoring benefiting from favourable volume
energy financing. effects
Factoring: production sharply up (x2 Q4/Q4) driven by the signing of significant Expenses stable Q4/Q4, positive jaws effect
contracts in France (+32.5% Q4/Q4) and internationally (x3.5 Q4/Q4); financed Cost/income ratio improving
outstandings +3.7% Q4/Q4 and factored revenues up (+6.9% Q4/Q4)
Cost of risk up especially arising from professional markets and
SMEs; cost of risk/outstandings (1) at 24 bp, +4 bp vs Q4-23

1. Cost of risk for the last four quarters divided by the average of the outstandings at the start of all four
quarters of the year

32 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

RB – LCL

Loans outstanding (€bn) Customer assets (€bn) Contribution to earnings Q4-24 ∆ Q4/Q4 2024 ∆ 2024/2023
(in €m) stated stated stated stated

+1.1% +3.0% Revenues 960 +0.1% 3,872 +0.6%

∆ Dec./Dec. ∆ Dec./Dec.
168.8 168.8 170.7 253.3 255.0 Operating expenses (647) (1.1%) (2,448) +2.2% excl. SRF
247.6
24.4 24.4 24.6
+0.8%
31.7 31.6 31.9 85.6 88.8 89.7 Gross operating income 313 +2.7% 1,424 +1.0%
+0.7% +4.8%
8.7 8.7 8.9
+1.7% Cost of risk (78) (19.3%) (373) +24.0%

103.9 104.1 105.3 165.3 +2.0%

+1.3% 162.0 164.5 Net income Group Share 183 +13.1% 790 (5.4%)

Cost/Income ratio (%) 67.4% -0.8 pp 63.2% +1.0 pp excl. SRF

Dec. 23 Sept. 24 Dec. 24 Dec. 23 Sept. 24 Dec. 24
Home loan Consumer credit Corporate Professionals On-B/S Off-B/S

Customer capture: +60k customers in Q4-24 Revenues stable, the increase in fee and commission income (+8.4%
Q4/Q4) is driven by all activities and helps to offset the drop in the NIM
Loans outstanding up over all markets this quarter and year on year
(-6.6% Q4/Q4 excluding home purchase savings plans (3)); the NIM
Loan production (1) up by +34% Q4/Q4, driven by good momentum confirmed in home continues to be supported by the gradual repricing of loans, helping to
loans (+59% Q4/Q4; +11% Q4/Q3); in home loans, production rate at 3.24% in Q4 on offset the increase in the cost of resources, despite a lower
average, and continued improvement in the stock rate (+5 bp Q4/Q3 and +18 bp Q4/Q4); contribution from macro-hedging
dynamic production continues in corporate loans (+29% Q4/Q4)
Expenses: positive base effect and continued investments related to
Customer assets up year-on-year and this quarter; stabilisation of the deposit mix; IT and external expenses (marketing, communication)
increase in off-balance sheet resources thanks to a positive market effect and positive net
inflows in life insurance Cost of risk/outstandings (4): 22 bp, stable over the year

Equipment rate in Home-Car-Health insurance (2): +0.4 pp Dec./Dec. to 27.9%

3. Reversal of provision for home purchase savings plans: in Q4-23 +€6.1m in revenues and +€4.5m in NIGS
1. See Appendix slide on page 75 4. Cost of risk for the last four quarters divided by the average of the outstandings at the start of all four
2. Equipment rate – Home-Car-Health policies, Legal, All Mobile/Portable or personal accident insurance quarters of the year

33 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

RB – CA ITALY

Contribution to earnings Q4-24 ∆ Q4/Q4 2024 ∆ 2024/2023

Loans outstanding (€bn) Customer assets (€bn) (in €m) stated stated stated stated

Revenues 733 +2.7% 3,056 +1.3%

+1.7% +3.6%
∆ Dec / Dec Operating expenses (442) (11.5%) (1,660) (0.1%)
117.4 120.0 excl. SRF
115.8
Operating expenses excl. DGS (442) +0.8% (1,602) +0.1%

50.1 53.2 54.0 Gross operating income 292 +35.9% 1,396 +6.1%
+7.7%

Cost of risk (76) (21.2%) (246) (25.5%)

61.1 61.3 62.1

65.7 66.0
Net income Group Share 112 +74.3% 608 +12.7%
64.2
+0.5%
Cost/Income ratio (%) 60.2% -9.7 pp 54.3% -0.8 pp
excl. SRF
Dec. 23 Sept.24 Dec. 24 Dec. 23 Sept.24 Dec. 24
Cost/Income ratio excl. DGS (%) 60.2% -1.2 pp 52.4% -0.6 pp
On-balance sheet Off-balance sheet **
* Net of POCI outstandings ** Excluding assets under custody

Activity/Customer Capture: continued momentum in customer capture, with +45k new Revenues: NIM relatively stable since Q4-23 and stable fee and
customers in Q4 2024; increase in the property and casualty insurance equipment rate commission income Q4/Q4 driven by dynamic fee and commission
to 20.0% (+1.2 pp vs Q4-23) income on assets under management
Loans outstanding up Dec./Dec. in a declining market(1), driven by individuals (+3.2% Expenses controlled (+0.8% Q4/Q4 excluding deposit guarantee
Dec/Dec) and corporates (+3.6% Dec./Dec.); home loan production down Q4/Q4 scheme)
(-6.3%) compared to an already very high Q4-23; loan stock rate down Q4/Q3 (-20 bps) Cost of risk: down Q4/Q4; continuous improvement in asset quality
less sharply than the drop in market rates and coverage ratio
Customer assets: stable on-balance sheet deposits, cost of customer resources down
since Q1-24; rise in off-balance sheet deposit volumes (market effect and positive net
inflows)

1. Source: Abi Monthly Outlook, January 2024: -1.0% Dec./Dec. for all loans

34 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

CRÉDIT AGRICOLE GROUP IN ITALY

CRÉDIT AGRICOLE GROUP IN ITALY

CA Group in Italy (1) Branches market share in Italy (4) Distribution of the Group’s net income Group share (10) in Italy

6.1m €340bn 0%
0-2%
€1,254m Large
customers
Customers (2) Total customer assets (3) 2024 underlying Net Income Retail banking
2-5% Group Share Asset
5-10% gathering
12%
> 10%
18% Total
1,216 €102bn +20% net income:
49%
Points of sale Loans outstanding Net income Group share €1254m
12M/12M
21%
Specialised
financial
services
~16,100 €5.1bn 5.0% 16%
Employees Revenues Market share(5)
retail Crédit Agricole S.A. underlying
banking Net Income Group Share(11)

Number 1 commercial bank in Number 2 in consumer Number 3 asset Number 4 bankinsurer

Rank manager(8) in life(9)
NPS(6) finance(7)

(1) Aggregation of Group entities in Italy (CA Italy, CA Auto Bank, Crédit Agricole CIB, CAIW, AGOS; (2) including all entities present in Italy (3) Including “non-Group” Amundi AuM and CACEIS AuC; (4) Source: Banca d’Italia, 31/12/2024; (5) In number
of branches at 30/09/24; (6) Net Promoter Score, Source Doxa October 2024 study; (7) Assofin publication, 30/04/2024 (excl. credit cards) (8) AUM; Source: Assogestioni, 31/05/2024 (9) Production. Source: IAMA, 30/06/2024 (10) Excluding Banco
BPM investment accounted for in Corporate Centre (11) Excl. Corporate Centre

35 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

RB – OTHER IRB

Loans outstanding Poland, Egypt, Customer assets Poland, Egypt,

Ukraine (€bn) Ukraine (€bn)
Contribution to earnings Q4-24 ∆ Q4/Q4 2024 ∆ 2024/2023
(1) (in €m) stated stated stated stated
+5.2%(1) +8.9%
+1.2% Revenues 236 (9.3%) 1,003 +7.7%
(0.2%)
Operating expenses (126) (1.3%) (488) +6.9%
11.9 12.1
11.0 0.9
0.7 Gross operating income 110 (17.1%) 515 +8.5%
0.9

Cost of risk (24) x 3.8 (67) (50.0%)

7.3 7.3 7.3 11.2 11.2 Net income Group Share 46 +20.2% 228 +39.9%
10.2

Cost/Income ratio (%) 53.5% +4.3 pp 48.6% -0.4 pp

Dec 23 Sept 24 Dec. 24 Dec 23 Sept 24 Dec. 24

Loans outstanding On-balance sheet Off-balance sheet

CA Poland: Good commercial activity; loan production +6% (1); loans outstanding CA Poland: nearly stable revenues (+0.1% Q4/Q4 (1)), with a rise in
+2% (1) driven by the retail and professional segments; on-balance sheet deposits NIM; expenses +2.7% (1) impacted by employee expenses and IT
+6% (1) investments; cost of risk improving, especially a reduction in risk on
CHF loans; net income Group share lower
CA Egypt: Dynamic commercial activity over all markets, loans outstanding
+29% (1); on-balance sheet deposits +13% (1). CA Egypt: revenues up sharply +25% Q4/Q4 (1), driven by NIM;
expenses impacted by inflation (+30% Q4/Q4); cost of risk down;
Liquidity: Still strong, net deposits/loans surplus +€4.1bn at 31 Dec. 2024
high level of Net income Group share
CA Ukraine: Net income Group share up, including positive base
effect related to change in corporate income tax rate in Q4-23
(approximately +€40m)

1. Change excluding FX impact

36 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

CORPORATE CENTRE

Q4-23 Q1-24 Q2-24 Q3-24 Q4-24

Contribution to earnings ∆
Q4-24 ∆ Q4/Q4 2024
(in €m) 2024/2023
18
44 Revenues 95 +357 (570) +114
(26)
(78) Operating expenses (28) +16 (116) (51) excl. SRF
(29) (161) Gross operating income 67 +373 (685) +140
(219)
(245)
-107 Cost of risk (6) +8 (59) (42)
-161
Equity-accounted entities (17) (5) (82) (24)
-218
-238
Net income on other assets (0) 2 23 +26

Net income Group share stated 18 +236 (488) +105

m€
Of which structural net income (stated): (26) +193 (539) +160
Structural net income excl. IFRIC21 IFRIC21 Other elements Stated net income
- Balance sheet & holding Crédit Agricole S.A. (354) (116) (1,120) (202)
- Other activities (CACIF, CA Immobilier,
315 +297 549 +343
BforBank, CATE, etc.)

Structural net income Group share: - Support functions (CAPS, CAGIP, SCI) 12 +12 32 +19
Of which other elements of the division
• Positive impact (+€234m in revenues) of the revaluation of Banco BPM shares (stated)
44 +43 51 (55)

(+€271m in Q4-24 vs +€37m in Q4-23)

• Interim dividend on the equity investment in Banco BPM (+€60m in revenues)
• Unfavourable catch-up effect on corporate tax (-€91m)
Other elements of the division:
• Impact of the “IFRS 17 internal margins” effect stable over the year (€832m in
revenues and expenses)

Entering into financial instruments relating to 5.2% of Banco BPM’s share capital

37 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 Crédit Agricole Group
Regional Banks

38 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE GROUP

REGIONAL BANKS

Loans outstanding (€bn) Customer assets (€bn)

Regional Banks' (5) Q4-24 ∆ Q4/Q4 12m-24 ∆ 12m/12m

+0.2% +2.6%
∆ Dec /Dec consolidated results (in €m) stated stated stated stated
∆ Dec /Dec
888 903 911
646 646 648 Revenues 3,247 +0.7% 15,068 +1.9%
230 231 231 292 302 305
+4.4% Operating expenses (2,480) +0.7% (9,871) +1.4%
+0.7%
24 24 24
+3.1%
Gross operating income 767 +0.8% 5,197 +2.7%
393 391 392 596 601 606 +1.7%
(0.2%)
Cost of risk (242) (24.6%) (1,317) +14.0%

Net income Group Share 419 +19.9% 3,470 +2.5%

Dec. 23 Sept. 24 Dec. 24 Dec. 23 Sept. 24 Dec. 24

SMEs-Small business.-Farm.-Local auth. Consumer credit Home loans On-balance sheet assets Off-balance sheet
Cost/Income ratio (%) 76.4% -0.0 pp 65.5% -0.3 pp

Customers: +273k new customers over the quarter, increase of the share of customers’ Revenues +3.1% excluding home purchase savings plans Q4/Q4 (6) in
principal sight deposits and of the rate of digital customers line with the increase in the net interest margin (+9.8% excluding
HPSP Q4/Q4 (6)) and fee and commission income (+1.6% Q4/Q4)
Loans: stable outstandings Dec./Dec. and market share (1); loan production +7.4% Q4/Q4,
which are positive and dynamic in insurance, account management
of which +7.8% in home loans; home loan production rate at 3.35% (2); stock rate of all
loans +16 bp Q4/Q4 and payment instruments.
Expenses stable, below the inflation level
Deposits: up year-on-year, driven by off-balance sheet deposits, benefiting from strong
inflows in life insurance; mix of on-balance sheet deposits stable this quarter; increase in Cost of risk improving; cost of risk/outstandings(7) was 20 bp, -1 bp vs.
balance sheet deposits(3) market share year-on-year Q3-24
Equipment rate (4): property and casualty insurance equipment rate of 43.9% (+0.8 pp vs Dec. 23)
3. Source BdF, market share On-Balance sheet deposits 20.3% at end-September 2024 (+0.4 pp vs
Payment instruments: number of cards +1.6% year on year; 16.4% premium cards in the September 2023)
4. Equipment rate – Home-Car-Health policies, Legal, All Mobile/Portable or personal accident insurance
stock (+1.6 pp year on year) 5. Including the SAS Rue La Boétie dividend paid annually in Q2
6. Reversal of the provision for home purchase savings plans: in Q4-23 +€73.6m in revenues and +€54.6m in
1. BdF Source Total loans market share 22.7% at end-September 2024 (stable vs September 2023) Net income Group share
2. Average production rate for October and November 2024 7.Cost of risk/outstandings in rolling four-quarter period

39 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 Appendices
Economic scenario

40 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 APPENDICES

STILL MODEST ACTIVITY AND VERY GRADUAL DECLINE IN INFLATION

France, Italy, Eurozone – GDP Growth France, Italy, Eurozone – Average annual Inflation (%)

% 8.8
France Italy Euro zone
6.8 6.3
4.8 8.7 8.4
3.6
2.6
1.1 0.8 0.5 1.1 0.5 0.7 0.8 0.6 1.0
5.9 5.7 6.0 5.5

2.6 2.3 2.4

-6.1 2.1 1.9 1.7 2.0
-7.6 1.1 1.2 1.5 1.2 1.7
-9.0 France Italy Euro zone

2020 2021 2022 2023 2024 2025

2021 2022 2023 2024 2025 2026

Sources: Eurostat, Crédit Agricole S.A./ECO. Forecasts at 20 December 2024 Sources: Eurostat, Crédit Agricole S.A./ECO. Forecasts at 20 December 2024

France, Italy, Eurozone – Unemployment rate France – institutional forecasts (GDP France)
14 % of labour force
IMF (October 2024): +1.1% in 2024 and +1.1% in 2025
13
12 European Commission (Nov. 2024): +1.1% in 2024 and +0.8% in 2025
11
OECD (Dec. 2024): +1.1% in 2024 and +0.9% in 2025
10
9 Banque de France (Dec. 2024): +1.1% in 2024 and +0.9% in 2025
8
7 Provisioning of performing loans: use of alternative scenarios
6 complementary to the central scenario (Oct. 2024)
5 France Italy Euro zone
4 A favourable scenario: French GDP +1.1% in 2024 and +1.3% in 2025
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Unfavourable scenario: French GDP +1.1% in 2024 and -0.1% in 2025
Sources: Eurostat, Crédit Agricole S.A./ECO. Forecasts at 20 December 2024

41 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 APPENDICES

VERY CAUTIOUS MONETARY EASING

Equities (quarterly averages)
Interest rates, in euros (%)
EuroStoxx 50: spot -2.1% Q4/Q3; average 0.6% Q4/Q3 (+13.9% Q4/Q4)
% EURIBOR 3M Interest rates (month-end)
OAT 10Y
10-year OAT: 26 bp over the quarter and 62 bp vs Dec. 23
BUND 10Y
Spread at end-December 24:
▪ OAT/Bund 82 bp (3 bp vs. Sept. 24 and +29 bp vs. Dec. 23)
▪ BTP/Bund: 116 bp (-17 bp vs Sept. 24 and -52 bp vs Dec. 23)
Foreign exchange (month-end)
EUR/USD: -7.0% vs Sept. 24 and -6.2% vs Dec. 23
Sources: LSEG Datastream, Crédit Agricole SA/ECO. Data at 10 January 2025

Equity indexes (base 100 = 31/12/2018) France – Household and corporate leaders’ confidence

120

CAC40 110
LT average
CAC40 (quarterly avg.)
100
EURO STOXX 50
90

80

70
Household confidence
60
Business sentiment
50
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Sources: LSEG Datastream, Crédit Agricole SA/ECO. Data at 10 January 2025 Sources: Insee, Crédit Agricole SA/ECO. Data at end-December 2024

42 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 Appendices
Earnings/Profitability

43 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

APPENDICES

Q4-24 STATED RESULTS (AMOUNTS IN €M AND Q4/Q4 CHANGE)

Q4-24 stated

Asset Wealth Asset IRB Corp.

€m AG Ins. LC CIB SFS CAPFM CAL&F FRB IRB CA Italia Total
Mgt. Mgt. servicing others center
Revenues 2,045 715 901 430 2,108 1,573 535 915 722 193 960 969 236 733 95 7,092
Operating expenses exclud SRF (930) (77) (506) (347) (1,298) (902) (396) (447) (347) (100) (647) (568) (126) (442) (28) (3,917)
Gross operationg result 1,116 638 395 82 810 671 139 468 375 93 313 401 110 292 67 3,175
Cost of risk (11) (6) (3) (3) (93) (86) (7) (306) (286) (20) (78) (100) (24) (76) (6) (594)
Net income on other assets 29 - 29 - 7 (0) 7 43 45 - - - - - (17) 62
Tax (315) (218) (80) (16) (166) (139) (27) (49) (35) (14) (44) (101) (29) (72) (7) (681)
Net income 819 414 341 63 557 447 110 147 97 50 192 201 57 144 37 1,953
Non controling interests (124) 3 (115) (12) (45) (10) (35) (24) (24) 0 (9) (43) (10) (33) (19) (264)
Net income Group Share 695 418 226 51 512 437 75 124 74 50 183 158 46 112 18 1,689

∆ Q4-24/Q4-23 stated

Asset Wealth Asset IRB Corp.

% AG Ins. LC CIB SFS CAPFM CAL&F FRB IRB CA Italia Total
Mgt. Mgt. servicing others center
Revenues +32% +37% +15% +74% +9% +8% +13% +4% +5% +2% +0% (0%) (9%) +3% n.m. +17%
Operating expenses exclud SRF +28% +3% +16% +60% +7% +6% +10% (0%) (1%) +0% (1%) (9%) (1%) (12%) (37%) +6%
Gross operationg result +35% +43% +12% x 2.7 +12% +10% +22% +9% +10% +4% +3% +16% (17%) +36% n.m. +36%
Cost of risk x 2.7 n.m. n.m. (45%) x 2.4 x 2.7 (2%) +66% +68% +40% (19%) (3%) x 3.8 (21%) (56%) +35%
Net income on other assets +2% n.m. +2% n.m. +46% n.m. +46% +8% +10% n.m. n.m. (100%) (100%) (100%) +37% +2%
Tax +82% x 2.7 (10%) x 3.5 +28% +41% (12%) (7%) (1%) (20%) +12% (2%) (55%) +90% n.m. +85%
Net income +21% +13% +18% x 3.4 (1%) (7%) +37% (37%) (48%) +2% +13% +50% +12% +74% n.m. +25%
Non controling interests (4%) n.m. +22% x 4.2 +23% (10%) +38% +30% +30% +50% +14% +39% (15%) +74% x 34.4 +18%
Net income Group Share +27% +25% +16% x 3.3 (3%) (7%) +36% (43%) (56%) +2% +13% +54% +20% +74% n.m. +27%

NB: this table presents the main income statement items and is not exhaustive

44 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

APPENDICES

12M-24 STATED RESULTS (AMOUNTS IN €M AND 12M/12M CHANGE)

12M-24 stated

Asset Wealth Asset IRB Corp.

€m AG Ins. LC CIB SFS CAPFM CAL&F FRB IRB CA Italia Total
Mgt. Mgt. servicing others center
Revenues 7,648 2,845 3,406 1,397 8,651 6,568 2,083 3,520 2,764 756 3,872 4,059 1,003 3,056 (570) 27,181
Operating expenses exclud SRF (3,365) (341) (1,890) (1,134) (5,039) (3,528) (1,511) (1,780) (1,382) (398) (2,448) (2,148) (488) (1,660) (116) (14,895)
Gross operationg result 4,284 2,504 1,516 264 3,612 3,040 572 1,740 1,382 358 1,424 1,911 515 1,396 (685) 12,286
Cost of risk (29) (4) (10) (15) (117) (93) (24) (958) (877) (81) (373) (313) (67) (246) (59) (1,850)
Net income on other assets 123 - 123 - 27 2 25 125 133 - - - - - (82) 194
Tax (973) (572) (356) (46) (883) (748) (134) (187) (129) (59) (229) (535) (169) (366) 336 (2,472)
Net income 3,381 1,929 1,274 179 2,640 2,204 436 708 504 203 827 1,063 279 784 (466) 8,153
Non controling interests (506) (44) (424) (37) (192) (52) (140) (82) (82) 0 (37) (227) (51) (176) (22) (1,067)
Net income Group Share 2,875 1,884 849 142 2,448 2,152 296 625 422 203 790 836 228 608 (488) 7,087

12M / 12M-23 stated

Asset Wealth Asset IRB Corp.

% AG Ins. LC CIB SFS CAPFM CAL&F FRB IRB CA Italia Total
Mgt. Mgt. servicing others center
Revenues +14% +12% +9% +37% +11% +8% +24% (2%) (4%) +7% +1% +3% +8% +1% (17%) +8%
Operating expenses exclud SRF +17% +9% +9% +37% +12% +5% +30% +6% +7% +4% +2% +1% +7% (0%) +80% +9%
Gross operationg result +13% +12% +10% +35% +22% +22% +20% (8%) (13%) +15% +1% +7% +8% +6% (17%) +11%
Cost of risk x 5.4 n.m. x 3.8 x 3.7 (2%) (16%) x 2.8 +10% +9% +30% +24% (33%) (50%) (25%) x 3.6 +4%
Net income on other assets +21% n.m. +21% n.m. +25% +100% +21% (3%) (1%) n.m. n.m. (100%) (100%) (100%) +41% (2%)
Tax +12% +17% +4% +18% +28% +29% +20% (39%) (48%) (3%) (10%) +27% +34% +24% (3%) +12%
Net income +12% +11% +12% +21% +21% +23% +16% (24%) (33%) +15% (5%) +17% +32% +13% (18%) +11%
Non controling interests +5% (50%) +14% +84% +19% +22% +18% +4% +4% (15%) (5%) +12% +4% +14% (22%) +7%
Net income Group Share +13% +14% +12% +11% +22% +23% +15% (27%) (37%) +15% (5%) +19% +40% +13% (18%) +12%

NB: this table presents the main income statement items and is not exhaustive

45 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

APPENDICES

ALTERNATIVE PERFORMANCE INDICATORS – SPECIFIC ITEMS

Q4-24 Q4-23 2024 2023
€m Impact on Impact on Impact on Impact on
Gross Gross Gross Gross
Net Net Net Net
impact* impact* impact* impact*
income income income income
DVA (LC) (26) (19) 6 4 20 15 (15) (11)
Loan portfolio hedges (LC) 2 1 2 1 8 6 (24) (18)
Home Purchase Savings Plans (FRB) - - 6 4 3 2 58 41
Home Purchase Savings Plans (CC) - - 5 4 (2) (1) 236 175
Mobility activities reorganisation (SFS) - - - - - - 300 214
Check Image Exchange penalty (CC) - - - - - - 42 42
Check Image Exchange penalty (LCL) - - - - - - 21 20
Total impact on revenues (24) (17) 19 14 30 21 617 464
Degroof Petercam integration costs (AG)
ISB integration costs (LC)
(13)
(27)
(9)
(15)
-
-
-
-
(26)
(97)
(19)
(52)
-
-
-
- -€41m
Mobility activities reorganisation (SFS) - - 4 3 - - (14) (10)
Net impact of specific
Total impact on operating expenses (39) (24) 4 3 (123) (71) (14) (10)
Provision for risk Ukraine (IRB) - - - - (20) (20) - -
items on Q4-2024 Net
Mobility activities reorganisation (SFS) - - - - - - (85) (61) income Group share
Total impact on cost of credit risk - - - - (20) (20) (85) (61)
Mobility activities reorganisation (SFS) - - - - - - (39) (39)
Total impact equity-accounted entities - - - - - - (39) (39)
ISB integration costs (LC) (2) - - (2) - -
Degroof Petercam aquisition costs (AG) 1 1 - - (22) (16) - -
Mobility activities reorganisation (SFS) - - - - - - 89 57
Total impact Net income on other assets (1) 1 - - (24) (16) 89 57
Mobility activities reorganisation (SFS) - - 12 12 - - 12 12
Total impact on change of value of goodwill - - 12 12 - - 12 12
Mobility activities reorganisation (SFS) - - - 3 - - - 3
Total impact on tax - - - 3 - - - 3

Total impact of specific items (64) (41) 35 31 (138) (86) 580 425
Asset gathering (12) (9) - - (49) (35) - -
French Retail banking - - 6 4 3 2 79 61
International Retail banking - - - - (20) (20) - -
Specialised financial services - - 16 17 - - 263 176
Large customers (52) (32) 8 6 (70) (32) (39) (28)
Corporate centre - - 5 4 (2) (1) 277 216
* Impact before tax and before minority interests
46 FOURTH QUARTER AND FULL YEAR 2024 RESULTS
 CRÉDIT AGRICOLE S.A.

APPENDICES

RECONCILIATION BETWEEN STATED AND UNDERLYING INCOME – Q4-24

Q4-24 Q4-24 Q4-23 Q4-23 ∆ Q4/Q4 ∆ Q4/Q4

€m Specific items Specific items
stated underlying stated underlying stated underlying

Revenues 7,092 (24) 7,116 6,040 19 6,021 +17.4% +18.2%

Operating expenses excl.SRF (3,917) (39) (3,878) (3,710) 4 (3,714) +5.6% +4.4%
SRF - - - - - - n.m. n.m.
Gross operating income 3,175 (63) 3,238 2,330 24 2,307 +36.2% +40.4%
Cost of risk (594) 0 (594) (440) - (440) +35.0% +35.0%
Equity-accounted entities 62 - 62 61 - 61 +2.4% +2.4%
Net income on other assets (9) (1) (8) (17) - (17) (45.9%) (51.9%)
Change in value of goodwill - - - 2 12 (9) n.m. (100.0%)
Income before tax 2,634 (64) 2,698 1,937 35 1,902 +36.0% +41.9%
Tax (681) 16 (697) (369) (4) (365) +84.7% +91.0%
Net income from discont'd or held-for-sale ope. - - - (10) - (10) n.m. n.m.
Net income 1,953 (48) 2,001 1,558 32 1,527 +25.3% +31.1%
Non controlling interests (264) 7 (271) (224) (0) (224) +17.8% +21.1%
Net income Group Share 1,689 (41) 1,730 1,334 31 1,303 +26.6% +32.8%
Earnings per share (€) 0.52 (0.01) 0.54 0.41 0.01 0.40 +26.8% +33.4%
Cost/Income ratio excl. SRF (%) 55.2% 54.5% 61.4% 61.7% -6.2 pp -7.2 pp

Crédit Agricole S.A. Crédit Agricole S.A.

€1,689m €0.54
Net income Group share Underlying earnings per
stated at Q4-24 share for Q4-24

47 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

APPENDICES

RECONCILIATION BETWEEN STATED AND UNDERLYING INCOME – 12M-24

∆
2024 2024 2023 2023 ∆ 2024/2023
€m Specific items Specific items 2024/2023
stated underlying stated underlying underlying
stated

Revenues 27,181 30 27,151 25,180 617 24,563 +7.9% +10.5%

Operating expenses excl.SRF (14,895) (123) (14,772) (13,632) (14) (13,618) +9.3% +8.5%
SRF - - - (509) - (509) (100.0%) (100.0%)
Gross operating income 12,286 (94) 12,379 11,039 603 10,436 +11.3% +18.6%
Cost of risk (1,850) (20) (1,830) (1,777) (84) (1,693) +4.1% +8.1%
Equity-accounted entities 194 (0) 194 197 (39) 235 (1.5%) (17.6%)
Net income on other assets (4) (24) 20 85 89 (4) n.m. n.m.
Change in value of goodwill - - - 2 12 (9) (100.0%) (100.0%)
Income before tax 10,625 (138) 10,763 9,546 580 8,966 +11.3% +20.0%
Tax (2,472) 28 (2,500) (2,201) (153) (2,047) +12.3% +22.1%
Net income from discont'd or held-for-sale ope. - - - (3) - (3) n.m. n.m.
Net income 8,153 (109) 8,263 7,343 427 6,916 +11.0% +19.5%
Non controlling interests (1,067) 24 (1,090) (995) (2) (992) +7.3% +9.9%
Net income Group Share 7,087 (86) 7,172 6,348 425 5,923 +11.6% +21.1%
Earnings per share (€) 2.11 (0.03) 2.14 1.94 0.14 1.80 +8.5% +18.5%
Cost/Income ratio excl.SRF (%) 54.8% 54.4% 54.1% 55.4% +0.7 pp -1.0 pp

Crédit Agricole S.A. Crédit Agricole S.A.

€7,087m €2.14
Net income Group share Underlying earnings per
stated at 12M-24 share for 12M-24

48 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

APPENDICES

A STABLE, DIVERSIFIED AND PROFITABLE BUSINESS MODEL

Underlying revenues 12M-2024 by business Underlying net income Group share(1) 12M-2024 by
line(1) (excluding Corporate Centre) (%) business line (excluding Corporate Centre) (%)

Large Asset
customers Asset Asset gathering Large servicing Asset
servicing Insurance customers 5% gathering
31% 10% 28%
7% 32% Insurance 38%
25%
Asset
CIB
Mngt
CIB 28%
Underlying 12% Underlying
24%
revenues Net income
Wealth
excl. CC Mngt excl. CC Asset
2024: 5% 2024: Mngt

Leasing & €27,7bn Leasing & €7,7bn 11%

Factoring
Factoring 3% Wealth
LCL
3% Mngt
14% Consumer 2%
Consumer
finance LCL
Spec. fin. serv. finance Retail IRB Retail
10% IRB Spec. fin. serv. 5% 11%
10%
banking
13% 15% banking 8% 21%
29%

1. See slide 46 for details on specific items

49 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

APPENDICES
Asset gathering
RWA AND ALLOCATED CAPITAL BY BUSINESS LINE €57.5bn
Asset
14%
Asset
servicing Mngt
CorporateInsurance
3% 3%
centre 8% Wealth
Large customers 7% Mngt
€147.8bn 2%
Risk-weighted assets Capital 36%
LCL
Dec. Sept. Dec. Dec. Sept. Dec. RWA 14%
€bn
2024 2024 2023 2024 2024 2023 CIB end-Dec. 2024:
33% €415.2bn
Asset gathering 57.5 58.7 52.9 12.6 12.6 12.4 IRB
11% Retail banking
- Insurance* ** 34.5 35.7 33.6 10.4 10.4 10.6 €103.7bn
Consumer
finance 25%
- Asset management 13.7 14.1 13.4 1.3 1.3 1.3
15%
Leasing & Factoring
- Wealth Management 9.4 8.9 5.9 0.9 0.8 0.6 4%
Spec. fin. serv.
French Retail Banking (LCL) 56.8 55.3 53.1 5.4 5.3 5.0 €76.2bn
18%
International retail Banking 46.9 46.3 48.9 4.5 4.4 4.6
Asset
Specialised financial services 76.2 71.8 68.9 7.2 6.8 6.5 Large customers servicing Asset gathering
2%
€14bn €12.6bn
Large customers 147.8 140.5 134.9 14.0 13.3 12.8
32% 29%
- Financing activities 90.3 84.0 80.7 8.6 8.0 7.7
Insurance
- Capital markets and investment banking 46.6 44.6 44.2 4.4 4.2 4.2 24%
- Asset servicing 11.0 11.9 10.0 1.0 1.1 1.0 CIB
30%
Total allocated Asset
Corporate Centre 30.0 29.6 28.9 - - - Mngt
capital
3%
end-Dec. 2024:
TOTAL 415.2 402.3 387.5 43.7 42.4 41.5
€43.7bn Wealth
Mngt
LCL 2%
Leasing & Factoring 12%
Consumer
4%
finance IRB
13% 10%

Spec. fin. serv.

Retail banking
€7.2bn
€9.8bn
17%
23%

* ** Methodology: 9.5% of RWAs for each business line; Insurance: 80% of Solvency 2 capital requirements

50 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

APPENDICES

PROFITABLE BUSINESS LINES

2024 underlying RoNE (1) (2) by business line and 2025 targets (%)

Underlying 2024

Underlying 2023

2025 MTP target

>15% 29.5%
26.9%
>14%
>13% >13%
23.6% 24.6% 12%
20.8%
17.7% 17.7%
14.5% 13.7% 14.2% 14.0%
12.7%
10.1%
8.1%

AG LC SFS LCL CA Italia IRB Other RoTE underlying CASA

AG: Asset Gathering, including Insurance; RB: Retail Banking, SFS: Specialised financial services; LC: Large customers; CC: Corporate Centre
1. See pages 46 (Crédit Agricole S.A.) and 81 (Crédit Agricole Group) for further details on the specific items
2. After deduction of AT1 coupons, charged to net equity, see page 53

51 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

APPENDICES

DISTRIBUTION OF SHARE CAPITAL AND NUMBER OF SHARES

31/12/2024 31/12/2023

Breakdown of share capital Number of shares % Number of shares %

SAS Rue La Boétie 1,898,995,952 62.4% 1,822,030,012 59.7%

(1)
Treasury shares 16,247,289 (2) 0.5% 23,559,181 0.8%
Employees (company investment fund, ESOP) 198,691,991 6.5% 199,528,922 6.5%
Float 927,095,795 30.5% 1,007,619,876 33.0%
Total shares in issue (period end) 3,041,031,027 3,052,737,991
Total shares in issue, excluding treasury shares (period end) 3,024,783,738 3,029,178,810
Total shares in issue, excluding treasury shares (average number) 3,015,082,065 3,031,055,333

1. Excluded in the calculation of earnings per share

2. Taking into account the share buyback programme covering a maximum of 15,128,677 ordinary shares of Crédit Agricole S.A., announced on 30 September 2024, launched on 1 October 2024 and which ended on 6 November 2024. The
15,128,677 ordinary shares were cancelled on 13 January 2025.

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 CRÉDIT AGRICOLE S.A.

APPENDICES

DATA PER SHARE

(€m) Q4-2024 Q4-2023 2024 2023 ∆ Q4/Q4 ∆ 2024/2023

Net income Group share - stated 1,689 1,334 7,087 6,348 +26.6% +11.6%
- Interests on AT1, including issuance costs, before tax (112) (87) (463) (458) +28.7% +1.1%
- Foreign exchange impact on reimbursed AT1 - - (266) - n.m. n.m.
NIGS attributable to ordinary shares - stated [A] 1,577 1,247 6,358 5,890 +26.4% +7.9%
Average number shares in issue, excluding treasury shares (m) [B] 3,025 3,032 3,015 3,031 (0.3%) (0.5%)
Net earnings per share - stated [A]/[B] 0.52 € 0.41 € 2.11 € 1.94 € +26.8% +8.5%
Underlying net income Group share (NIGS) 1,730 1,303 7,172 5,923 +32.8% +21.1%
Underlying NIGS attributable to ordinary shares [C] 1,618 1,216 6,443 5,465 +33.1% +17.9%
Net earnings per share - underlying [C]/[B] 0.54 € 0.40 € 2.14 € 1.80 € +33.4% +18.5%

Adjusted(2) underlying(1) ROTE (%)

(€m) 31/12/2024 31/12/2023
Shareholder's equity Group share 74,710 71,086
- AT1 issuances (7,218) (7,220) 13.8% 14.0%
- Unrealised gains and losses on OCI - Group share 1,256 1,074
- Payout assumption on annual results* (3,327) (3,181)
Net book value (NBV), not revaluated, attributable to ordin. sh. [D] 65,421 61,760
- Goodwill & intangibles** - Group share (17,851) (17,347)
Tangible NBV (TNBV), not revaluated attrib. to ordinary sh. [E] 47,569 44,413
Total shares in issue, excluding treasury shares (period end, m) [F] 3,025 3,029
NBV per share , after deduction of dividend to pay (€) [D]/[F] 21.6 € 20.4 €
+ Dividend to pay (€) [H] 1.10 € 1.05 € Stated ROTE adjusted (%) Underlying ROTE adjusted(%)

TNBV per share, after deduction of dividend to pay (€) [G]=[E]/[F] 15.7 € 14.7 €
TNBV per sh., before deduct. of divid. to pay (€) [G]+[H] 16.8 € 15.7 €
* dividend proposed to the Board meeting to be paid
** including goodwill in the equity-accounted entities

(€m) 2024 2023

Net income Group share - stated [K] 7,087 6,348
Impairment of intangible assets [L] 0 0
Stated NIGS annualised [N] = ([K]-[L]-[M])*4/4+[M] 7,087 6,348
Interests on AT1, including issuance costs, before tax, foreign exchange
[O] -729 -458
impact, annualised
Stated result adjusted [P] = [N]+[O] 6,358 5,890
Tangible NBV (TNBV), not revaluated attrib. to ord. sh. - avg *** (3) [J] 46,125 43,281
Stated ROTE adjusted (%) = [P] / [J] 13.8% 13.6% (1) Underlying. See slide 46 for details on specific items
Underlying Net income Group share [Q] 7,172 5,923 (2) Underlying ROTE calculated on the basis of an annualised underlying
Underlying NIGS annualised [R] = ([Q]-[M])*4/4+[M] 7,172 5,923 net income Group share and linearised IFRIC costs over the year
Underlying NIGS adjusted [S] = [R]+[O] 6,443 5,465 (3) Average of the NTBV not revalued attributable to ordinary shares,
Underlying ROTE adjusted(%) = [S] / [J] 14.0% 12.6% calculated between 31/12/2023 and 31/12/2024 (line [E]), restated with an
assumption of dividend for current exercises
*** including assumption of dividend for the current exercise

53 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 Appendices
Risk indicators

54 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

APPENDICES

EXPOSURE TO FRENCH SOVEREIGN RISK – CREDIT AGRICOLE S.A.

Banking activity (4) (in billion euros)

Financial assets at fair

Financial assets at
value through other Financial assets at Total
As of 31/12/2024 fair value through
comprehensive amortised cost Bank activity (3)
profit or loss
income (OCI)

French government bond (OAT) 0.5 2.6 12.7 15.8

Assimilated to French sovereign risk (1) - 5.6 7.2 12.8

Total French sovereign risk of banking

0.5 8.2 19.9 28.6
portfolio

Insurance activity(4) (in billion euros)

Other models (2)

Financial assets at fair VFA model (2)

Financial assets at fair Total insurance
As of 31/12/2024 value through other Financial assets at Total assets on other (Variable Fee
value through profit or activity
comprehensive amortised cost models Approach)
loss
income (OCI)

French government bond (OAT) - 1.4 0.4 1.8 34.5 36.3

Assimilated to French sovereign risk (1) - 1.6 0.5 2.1 9.7 11.8

Total French sovereign risk of insurance

- 3.0 0.9 3.9 44.2 48.1
activities

→ The liabilities accounted with VFA model under IFRS 17 are related to Savings, Retirement and Funeral scope. The impact of valuation changes of the financial
investments backed by these commitments is not material neither on Crédit Agricole S.A net income nor on its equity because of symmetrical valuation effects of these
liabilities.
1. Public sector debt securities equivalent to those of central, regional or local governments
2. VFA model (Variable Fee Approach): Savings, Retirement and Funeral; BBA model (Building Block Approach): Personal protection (death & disability/creditor/group insurance); PAA model (Premium Allocation Approach): P&C
3. Figures before hedging. Hedging on government bonds (OAT) of banking portfolio: €0.2bn; Hedging on assimilated of banking portfolio: -€0.9bn
4. Bonds only

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 CRÉDIT AGRICOLE GROUP

APPENDICES

EXPOSURE TO FRENCH SOVEREIGN RISK – CREDIT AGRICOLE GROUP

Banking activity (4) (in billion euros)

Financial assets at fair

Financial assets at fair
value through other Financial assets at Total
As of 31/12/2024 value through profit or
comprehensive income amortised cost Bank activity (3)
loss
(OCI)

French government bond (OAT) 0.5 3.0 22.1 25.6

Assimilated to French sovereign risk (1) - 5.6 16.4 22.0

Total French sovereign risk of banking

0.5 8.6 38.5 47.6
portfolio

Insurance activity(4) (in billion euros)

Other models (2)

Financial assets at fair VFA model (2)

Financial assets at fair Total insurance
As of 31/12/2024 value through other Financial assets at Total assets on other (Variable Fee
value through profit or activity
comprehensive income amortised cost models Approach)
loss
(OCI)

French government bond (OAT) - 1.6 0.4 2.0 34.5 36.5

Assimilated to French sovereign risk (1) - 2.4 0.5 2.9 9.7 12.6

Total French sovereign risk of insurance

- 4.0 0.9 4.9 44.2 49.1
activities

→ The liabilities accounted with VFA model under IFRS 17 are related to Savings, Retirement and Funeral scope. The impact of valuation changes of the financial
investments backed by these commitments is not material neither on Crédit Agricole Group net income nor on its equity because of symmetrical valuation effects of
these liabilities.
1. Public sector debt securities equivalent to those of central, regional or local governments
2. VFA model (Variable Fee Approach): Savings, Retirement and Funeral; BBA model (Building Block Approach): Personal protection (death & disability/creditor/group insurance); PAA model (Premium Allocation Approach): P&C
3. Figures before hedging. Hedging on government bonds (OAT) of banking portfolio: €0.2bn; Hedging on assimilated of banking portfolio: -€0.9bn
4. Bonds only

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 CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A.

APPENDICES
COST OF RISK
Crédit Agricole CIB – Financing activities CAPFM 286
287
LCL 130
250
88 170 119
100
315
110
200 38 50 20
237
96 95
1 199 201
1 6 265
191
150 0 43 120 82 78
90
-36 170 2
187
215
-50 6 1 2 5
100 70
6 4
165 137
3 -100 70 42
50 127 50
3 115 227 223
52 4 -150 193 203 193 87 89 89 94
18 17 10 166
0 -8 30
-15 65
-56 -17 -200 20 36
-2 -79 37
-50 15 -7 -1 10
-250
-2 -1 -18
-22 -28
-1
-100 -300 -35 -13
-1 -9 -30 -10
Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24
S3 CoR* S1&S2 CoR Others Total CoR S3 CoR* S1&S2 CoR Others Total CoR S3 CoR* S1&S2 CoR Others Total CoR

CoR/outstandings: 7 bp CoR: +68.4% Q4/Q4; CoR/outstandings: 127 bp CoR: -19.3% Q4/Q4; CoR/outstandings: 22 bp
NPL ratio: 1.7%; Coverage ratio: 88.3% NPL ratio: 4.7%; Coverage ratio: 73.2% NPL ratio: 2.0%; Coverage ratio: 62.6%

CA Italy CAL&F Regional Banks

650
444 460

96 19 20 22 20
100 14 20 550 364
410
125 90
360
76 321
80
105 3 450 310
19 18 263
-10
85
61 61 70
247 260
60 350 54
48 3 3 27 27 32
65
3 3 50 24 171 210
4 21 -40 250
45 90 7 1 40
87 160
12
70 30
59 53 150 292 305 321 110
25 50 256
20 0 -70
0 -2 -5 -5 184 60
5
10
-7 -2 50
-13 -7 10
-15 0
-3 -3 -10 -8
-10 -1 -100 -52
Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 -50 -40
S3 CoR* S1&S2 CoR Others Total CoR Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24
S3 CoR* S1&S2 CoR Others Total CoR S3 CoR* S1&S2 CoR Others Total CoR

CoR: +40.1% Q4/Q4; CoR/outstandings: 24 bp CoR: -18.0% Q4/Q4; CoR/outstandings: 20 bp

CoR: -21.2% Q4/Q4; CoR/outstandings: 40 bp
NPL ratio: 2.9%; Coverage ratio: 75.1% NPL ratio: 3.0%; Coverage ratio: 50.5% NPL ratio: 1.9%; Coverage ratio: 96.5%

(*) Cost
of risk/outstandings (in annualised quarterly bp) at 9 bp for Financing activities, 164 bp for CAPFM, 18 bp for LCL, 49 bp for CA Italy, 24 bp for CAL&F and 16 bp for the RBs; coverage ratios are calculated based on loans and receivables due from
customers in default

57 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A.

APPENDICES

RISK INDICATORS

Change in loans outstanding

Crédit Agricole Group - Evolution of credit risk outstandings

€m Dec. 23 March 24 June 24 Sept. 24 Dec. 24

Gross customer loans outstanding 1,176,617 1,179,987 1,186,544 1,189,387 1,210,126
of which: impaired loans 25,037 25,705 25,723 25,737 25,147
Loans loss reserves (incl. collective reserves) 20,676 20,883 21,173 21,314 21,284
of which: loans loss reserves for Stage 1 & 2 outstandings 8,715 8,643 8,759 8,725 8,973
of which: loans loss reserves for Stage 3 outstandings 11,962 12,240 12,414 12,588 12,312
Impaired loans ratio 2.1% 2.2% 2.2% 2.2% 2.1%

Coverage ratio (excl. collective reserves) 47.8% 47.6% 48.3% 48.9% 49.1%

Coverage ratio (incl. collective reserves) 82.6% 81.2% 82.3% 82.8% 84.9%

Crédit Agricole S.A. - Evolution of credit risk outstandings

€m Dec. 23 March 24 June 24 Sept. 24 Dec. 24

Gross customer loans outstanding 525,847 532,218 538,317 539,065 557,686

of which: impaired loans 13,518 13,826 13,549 13,461 12,935
Loans loss reserves (incl. collective reserves) 9,565 9,644 9,662 9,612 9,585
of which: loans loss reserves for Stage 1 & 2 outstandings 3,393 3,363 3,315 3,251 3,435
of which: loans loss reserves for Stage 3 outstandings 6,173 6,280 6,347 6,361 6,151
Impaired loans ratio 2.6% 2.6% 2.5% 2.5% 2.3%

Coverage ratio (excl. collective reserves) 45.7% 45.4% 46.8% 47.3% 47.6%

Coverage ratio (incl. collective reserves) 70.8% 69.7% 71.3% 71.4% 74.1%

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 CRÉDIT AGRICOLE GROUP

APPENDICES

CAG and CASA exposure to corporate real estate limited and of high quality
Exposures (on- and off-balance sheet)/type of customer
(commercial real estate data(1) CAG end-June 2024)

Limited exposure to commercial real estate (1) at end-June 2024

GCA: €57.9bn (-1.4% June/Dec.), representing 3.3% of commercial lending

▪ of which ~€14.5bn for office real estate, ~€10.4bn for commercial spaces and ~€15.6bn for residential real
estate
▪ of which €25.8bn Regional Banks, €22.7bn Crédit Agricole CIB, €5.3bn LCL and €1.8bn CA Italy
Crédit Agricole S.A.: €32.1bn (-1.7% June/Dec.), representing 2.9% of commercial lending
▪ of which ~€9.6bn for office real estate, ~€5.8bn for commercial spaces and ~€5.1bn for residential real
estate.

Good quality of commercial real estate assets and risks under control at end-June 2024 Exposures (on- and off-balance sheet)/geographic area
(commercial real estate data(1) CAG end-June 2024)

LTV (loan to value): 70% of CAG exposures with an LTV < 60%, 78% for CASA(2)
High quality of CRE portfolio: 69% of exposures are Investment Grade for GCA and 82% for CASA(3)
Low default rate in commercial real estate: 2.3% for CAG and 2.8% for CASA (4) and S3 coverage ratio
of 53% for CAG and 52% for CASA.

1. Balance sheet and off-balance sheet; the scope includes property developers, listed and unlisted REITs, specialised investment funds, real estate investors, and real
estate subsidiaries of financial institutions (insurers, banks etc.); This scope is slightly different from the exposures to corporate real estate presented in the Registration
Document, which notably includes real estate financing contributed from corporate clients.
2. LTV calculated on 66% of exposures to real estate professionals for CAG and 68% of CASA exposures,
3. Internal rating equivalent
4. Default rate calculated with on- and off-balance sheet exposures as the denominator.

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 CRÉDIT AGRICOLE S.A.

APPENDICES

WELL-BALANCED CORPORATE PORTFOLIO

Crédit Agricole SA: €401bn of EAD(1) Corporate at 31/12/2024

NON BANKING FINANCIAL ACTIVITIES (55.6 Md) 13.9%

ELECRICITY (35.5 Md) 8.9%

REAL ESTATE (29.6 Md) 7.4%

AUTOMOTIVE (24.9 Md) 6.2% → 74.8% of Corporate exposures are Investment Grade(2)
OTHER (22.3 Md) 5.6%

HEAVY INDUSTRIES (22.2 Md) 5.5% → SME exposures of €26.7bn at 31/12/2024

AGRICULTURE AND FOOD PROCESSING (20.4 Md) 5.1%

RETAIL / CONSUMER GOODS INDUSTRIES (19.2 Md) 4.8%

→ LBO exposures(3) of €4.0bn at the end of November 2024
TELECOM (19.1 Md) 4.8%

OIL & GAS excl. commodity traders (17.9 Md) 4.5%

AIR / SPACE (16.7 Md) 4.2%

OTHER TRANSPORTS (15 Md) 3.7%

IT / TECHNOLOGY (14.1 Md) 3.5%

INSURANCE (13.4 Md) 3.3%

OTHER INDUSTRIES (13 Md) 3.2%

HEALTHCARE / PHARMACEUTILCALS (10.3 Md) 2.6%

CONSTRUCTION (9.5 Md) 2.4%

TOURISM / HOTELS / RESTAURATION (7.1 Md) 1.8%

COMMODITY TRADERS O&G (5.6 Md) 1.4%

ENERGY (excl. O&G / Com traders et Electricity) (3.6 Md) 0.9%

MEDIA / PUBLISHING (3.3 Md) 0.8%

WOOD / PAPER / PACKAGING (2.7 Md) 0.7%

(1) Exposure at default is a regulatory definition used in Pillar 3. It corresponds to the exposure at default after integration of risk reduction factors. It includes
exposures to balance sheet assets and part of the off-balance sheet commitments after application of the credit conversion factor
(2) Internal rating equivalent
(3) Crédit Agricole CIB scope only.

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 CRÉDIT AGRICOLE S.A.

APPENDICES

RISK INDICATORS

VaR – market risk exposures

Crédit Agricole S.A. - Mark risk exposures - VaR (99% - 1 day)

Crédit Agricole S.A. - Quaterly average of VaR (1 day - 99%, in m€)
19 19
In m€ Q4-24 18
31/12/2024 29/12/2023 16
Minimum Maximum Average 14 Compensation
Fixed income 5 7 5 6 8 14 Effects
13 14 12 Commodities
Credit 3 5 4 3 5 12 10 11 10
11
Foreign Exchange 3 6 5 5 3 10 9 7 5
6 5 Fixed income
Equities 3 11 6 11 4 4
Commodities 0 0 0 0 0 8 8 7 6 5 6 4 5 Credit
7
5
Mutualised VaR for Crédit Agricole S.A 9 13 10 13 13 4 5 4 4 4 5 Foreign Exchange
4 4 3
Compensation Effects* -10 -13 -7 4 4 6
3 2 3 3 3 3 3
Equities

-8 -7 -9 -9 -7 -8 -8
-10 -9 -10 VaR GCA
• The VaR (99%,1 day) of Crédit Agricole S.A. is measured by taking account
of the effects of diversification among the various Group entities.

• VaR (99% – 1 day) as at 31 December 2024: €13m for Crédit Agricole S.A. Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024

* Gains on risk factor diversification

61 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 Appendices
Financial structure and
balance sheet

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 CRÉDIT AGRICOLE S.A.

APPENDICES

FINANCIAL STRUCTURE AND BALANCE SHEET

Solvency (€bn) Change in CASA phased-in CET1 ratio

Phased-in
(2024 vs 2023)
31/12/24 31/12/23
Share capital and reserves 30.9 30.9
Consolidated reserves 38.7 36.3
Other comprehensive income (2.0) (2.4)
Net income (loss) for the year 7.1 6.3 +165 bp -83 bp

EQUITY - GROUP SHARE 74.7 71.1

(-) Expected dividend (3.3) (3.2) -64 bp

(-) AT1 instruments accounted as equity (7.2) (7.2)

-35 bp
Eligible minority interests 5.2 4.6 11.8% +8 bp 11.7%
(-) Prudential filters (0.9) (0.5)
o/w: Prudent valuation (1.4) (1.1)
(-) Deduction of goodwills and intangible assets (18.5) (17.6)
Deferred tax assets that rely on future profitability excluding those arising from temporary differences (0.0) (0.1)

Shortfall in adjustments for credit risk relative to expected losses under the internal ratings-based approach (0.3) (0.3)

Amount exceeding thresholds 0.0 0.0

Insufficient coverage for non-performing exposures (Pillar 2) (0.0) (0.0)
Dec.23 Retained result Dividend Business lines M&A Regulatory Dec. 24
Other CET1 components (1.2) (1.2) organic growth effects and
others
COMMON EQUITY TIER 1 (CET1) 48.5 45.6
Additionnal Tier 1 (AT1) instruments 7.4 6.0
Other AT1 components (0.2) (0.3) Dividend : Distribution at €1.10; 2024; Payout at 50%
TOTAL TIER 1 55.8 51.3
Tier 2 instruments 16.0 15.1 M&A : Degroof Petercam -21 bp ; Alpha Associates -5 bp
Other Tier 2 components 0.5 0.4
Regulation effects and others: Consolidation of leasing activities
TOTAL CAPITAL 72.2 66.7
(Basel 4) -12 bp; Models and data review +18 pb
RWAs 415.2 387.5

CET1 ratio 11.7% 11.8%

Tier 1 ratio 13.4% 13.2%
Total capital ratio 17.4% 17.2%

63 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

APPENDICES

FINANCIAL STRUCTURE AND BALANCE SHEET

Change in equity (€m)

Subordinated
€m Group share Non-controlling interests Total
debt
*
At 31 December 2023 71,086 8,833 79,919 25,317

Impacts of new standards ‐ ‐ -

Capital increase (154) - (154)

Dividends paid out in 2024 (3,177) (581) (3,758)

Dividends received from Regional Banks and
subsidiaries
Change in treasury shares held 49 - 49

Issuance / redemption of equity instruments (20) (786) (806)

Remuneration for equity instruments issued (445) (127) (572)

Impact of acquisitions/disposals on non-

- - -
controlling interests

Change due to share-based payments 48 12 60

Change in other comprehensive income 608 29 637

Change in share of reserves of equity affiliates (18) (12) (30)

Result for the period 7,087 1,067 8,154

Other (354) 166 (188)
At 31 December 2024 74,710 8,601 83,311 29,273

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 CRÉDIT AGRICOLE S.A.

APPENDICES

FINANCIAL STRUCTURE AND BALANCE SHEET

Balance sheet (€bn)

Assets 31/12/2024 31/12/2023

* * Liabilities 31/12/2024 31/12/2023
** *
Cash and Central banks 162.3 177.3 Central banks 1.4 0.3

Financial assets at fair value through profit or loss 600.9 523.6 Financial liabilities at fair value through profit or loss 413.5 357.9

Hedging derivative instruments 19.2 *

20.5 Hedging derivative instruments 27.3 31.0
Financial assets at fair value through other comprehensive
223.6 215.5
income
Loans and receivables due from credit institutions 565.4 554.9 Due to banks 178.4 202.6

Loans and receivables due from customers 548.1 516.3 Customer accounts 868.1 835.0

Debt securities 89.0 79.8 Debt securities in issue 284.5 253.2

Revaluation adjustment on interest rate hedged portfolios -0.2 -6.2 Revaluation adjustment on interest rate hedged portfolios -7.2 -11.6

Current and deferred tax assets 5.0 6.3 Current and deferred tax liabilities 3.2 3.1

Accruals, prepayments and sundry assets 51.9 59.3 Accruals and sundry liabilities 61.1 60.6

Non-current assets held for sale and discontinued operations 0.8 0.0 Liabilities associated with non-current assets held for sale 0.2 0.0

Insurance contrats issued- Assets 0.0 - Insurance contrats issued - Liabilities 362.9 348.5

Reinsurance contracts held - Assets 1.0 1.1 Reinsurance contracts held - Liabilities 0.1 0.1

Investments in equity affiliates 2.9 2.6 -

Investment property 10.4 10.8 Provisions 3.8 3.5

Property, plant and equipment 9.7 8.6 Subordinated debt 29.3 25.3

Intangible assets 3.4 3.1 Shareholder's equity 74.7 71.1

Goodwill 16.3 15.9 Non-controlling interests 8.6 8.8

Total assets 2,309.8 2,189.4 Total liabilities 2,309.8 2,189.4

65 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 Appendices
Activity indicators

66 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

APPENDICES

ACTIVITY INDICATORS – AG DIVISION

Assets under management (€bn)

∆
€bn Dec. 22 Mar. 23 Jun. 23 Sept. 23 Dec. 23 Mar. 24 Jun. 24 Sept. 24 Dec. 24
Dec./Dec.
Asset management – Amundi 1,904 1,934 1,961 1,973 2,037 2,116 2,156 2,192 2,240 10.0%
Savings/retirement 322 325 326 324 330 335 338 343 347 5.1%
Wealth management(1) 180 185 186 186 190 197 269 274 279 46.9%
Assets under management - Total2,406 2,443 2,473 2,484 2,557 2,648 2,763 2,809 2,867 12.1%
(1) excluding institutional clients' assets under custody

€bn Dec. 22 Mar. 23 Jun. 23 Sept. 23 Dec. 23 Mar. 24 Jun. 24 Sept. 24 Dec. 24 ∆ Dec./Dec.

LCL Private Banking 60.2 61.8 61.9 61.6 62.3 63.6 63.8 64.8 64.4 +3.4%
CAI Wealth Management 120.1 123.2 123.9 124.9 127.7 133.2 204.9 209.2 214.7 +68.2%
Of which France 38.0 39.5 39.6 39.3 39.5 40.9 40.7 41.6 41.8 +5.6%
Of which International(1) 82.1 83.7 84.3 85.6 88.1 92.2 164.3 167.5 173.0 +96.2%
Total 180 185 186 186 190 197 269 274 279 46.9%
(1) excluding institutional clients' assets under custody

67 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

APPENDICES

ACTIVITY INDICATORS – AG DIVISION – INSURANCE

Life insurance outstandings (€bn)

€bn Dec. 22 Mar. 23 Jun. 23 Sept. 23 Dec. 23 Mar. 24 Jun. 24 Sept. 24 Dec. 24 ∆ Dec./Dec.

Unit-linked 82.2 88.1 91.1 89.6 95.4 98.7 99.8 102.8 104.1 +9.1%
In Euros 239.3 236.4 235.2 234.6 234.9 236.2 238.2 240.5 243.2 +3.5%
Total 321.5 324.6 326.3 324.3 330.3 334.9 337.9 343.2 347.3 5.1%
Share of unit-linked 25.6% 27.2% 27.9% 27.6% 28.9% 29.5% 29.5% 29.9% 30.0% +1.1 pt

Insurance – Breakdown of investments (excluding unit-linked)* Combined Ratio

1.1% 1.6% 1.7%
6.9% 7.1% 7.1%
7.7% 7.6% 7.8%
8.7% 8.7% 8.5% Short term investments
2023 2024

Equity Combined Ratio 97,1% 94,4%

Private equity, infrastructures, Combined property & casualty ratio in France (Pacifica)
alternate investments including discounting and excluding undiscounting, net of
75.7% 75.0% 75.0% Real estate (buildings, shares, reinsurance: (claims + operating expenses + fee and
shares in SCIs)
commission income)/gross earned premiums; ratio
Interest rate products (bonds, calculated at the end of December 2024
etc…)

Market valueDec. 23 Market valueSept. 24 Market valueDec. 24

* Net of securities sold under repurchase agreements and amounts due to unit-holders of consolidated UCIs in particular

68 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

APPENDICES

ACTIVITY INDICATORS – AG DIVISION – AMUNDI

Breakdown of assets under management by asset class (€bn)

15.5% 16.6%
JV
10.4% 8.4%
Treasury

16.7% 18.7% Passive management

Real, alternative and structured

5.3% 5.1% assets
9.6% 9.2% Equities

Multi-assets
13.3% 11.7%
Bonds

29.3% 30.3%

Déc. 23 Déc. 24

69 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

APPENDICES

ACTIVITY INDICATORS – SFS DIVISION

Consumer finance and

Customer assets/Loans leasing/factored
outstanding (€bn) revenues (€m)

CAPFM OUTSTANDINGS
Personal Finance & Mobility - Gross managed loans
(€bn) Dec. 22 Mar. 23 Jun. 23 Sept. 23 Dec. 23 Mar. 24 Jun. 24 Sept. 24 Dec. 24 ∆ Dec./Dec.

Crédit Agricole Group (LCL & RBs) 21.6 21.8 22.0 22.1 22.5 22.7 23.1 23.4 23.7 5.3%

Automobile (CA Auto Bank + auto partnerships)38.5 40.3 40.4 43.6 44.7 45.6 46.0 46.6 48.4 8.2%
o/w CA Auto Bank - - 24.7 26.8 27.5 28.9 29.3 29.6 29.9 8.6%
Other entities 42.9 43.3 44.6 45.4 45.8 46.0 46.6 46.8 47.3 3.2%
o/w CAPFM France 13.3 13.3 13.6 13.7 13.7 13.5 13.4 13.1 12.9 -5.8%
o/w Agos 15.6 15.9 16.4 16.5 16.8 17.0 17.3 17.5 17.7 5.2%
o/w Other entitiés 14.0 14.1 14.7 15.1 15.3 15.5 15.9 16.3 16.7 9.3%

- 103.0 105.5 107.0 111.1 113.0 114.4 115.8 116.8 119.3 5.6%

O/w total consolidated loans 39.1 39.4 64.5 65.8 66.8 68.1 68.6 68.9 69.1 3.3%

CAL&F OUTSTANDINGS

Leasing & Factoring (CAL&F) - Leasing book and factored receivables

(€bn) Dec. 22 Mar. 23 Jun. 23 Sept. 23 Dec. 23 Mar. 24 Jun. 24 Sept. 24 Dec. 24 ∆ Dec./Dec.

Leasing portfolio 17.6 17.8 18.3 18.5 18.9 19.4 19.8 20.1 20.3 7.2%
incl. France 14.1 14.4 14.7 14.9 15.1 15.4 15.7 15.9 16.0 5.9%
Factored turnover 31.2 29.3 30.6 28.9 32.4 30.4 32.2 30.0 34.6 6.8%
incl. France 19.5 18.0 19.3 17.8 20.4 18.7 19.9 18.1 21.2 4.0%

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 CRÉDIT AGRICOLE S.A.

APPENDICES

ACTIVITY INDICATORS – FRB DIVISION

Customer assets and loans outstanding (€bn)

LCL - Customer savings (€bn)

Customer savings (€bn)* Dec. 22 Mar.23 Jun. 23 Sept. 23 Dec. 23 Mar.24 Jun. 24 Sept. 24 Dec. 24 ∆ Dec./Dec.

Securities 12.0 14.9 13.9 14.2 13.8 15.7 14.4 14.6 14.8 +7.3%
Mutual funds and REITs 7.9 8.5 8.9 8.9 9.2 9.8 9.6 10.4 10.2 +11.5%
Life insurance 63.9 62.6 63.7 62.1 62.6 62.4 62.3 63.8 64.7 +3.2%
Off-balance sheet savings 83.8 86.1 86.5 85.2 85.6 87.9 86.4 88.8 89.7 +4.8%
Demand deposits 73.2 67.2 65.4 63.8 62.0 58.5 59.3 59.5 60.1 (3.0%)
Home purchase savings plans 9.9 9.9 9.7 9.6 9.4 9.3 9.2 9.0 8.9 (5.4%)
Bonds 6.3 7.4 8.0 8.0 10.0 10.2 11.7 11.4 11.2 +12.5%
Passbooks* 46.6 49.7 49.1 50.1 51.0 52.9 53.0 53.2 53.4 +4.8%
Time deposits 15.3 20.6 22.2 24.3 29.7 32.1 32.3 31.3 31.7 +6.7%
On-balance sheet savings 151.4 154.9 154.4 155.9 162.0 162.9 165.4 164.5 165.3 +2.0%
TOTAL 235.2 241.0 240.9 241.0 247.6 250.8 251.8 253.3 255.0 +3.0%

Passbooks* o/w (€bn) Dec. 22 Mar.23 Jun. 23 Sept. 23 Dec. 23 Mar.24 Jun. 24 Sept. 24 Dec. 24 ∆ Dec./Dec.

Livret A 13.5 14.6 15.3 15.7 15.8 16.8 17.1 17.4 17.5 +10.2%
LEP 1.2 1.5 1.6 1.7 2.0 2.3 2.4 2.4 2.5 +20.0%
LDD 9.1 9.4 9.6 9.7 9.6 10.0 10.1 10.2 10.1 +5.1%
TOTAL 23.9 25.6 26.5 27.1 27.5 29.1 29.6 30.0 30.0 +9.2%
* Including liquid company savings. Outstanding Livret A, LDD and LEP before centralisation with the CDC.

Retail Banking in France (LCL) - Loans outstandings

Loans outstanding (€bn) Dec. 22 Mar.23 Jun. 23 Sept. 23 Dec. 23 Mar.24 Jun. 24 Sept. 24 Dec. 24 ∆ Dec./Dec.

Corporate 31.6 31.3 31.6 31.6 31.7 31.3 31.5 31.6 31.9 +0.7%
Professionals 23.5 23.9 24.1 24.2 24.4 24.4 24.4 24.4 24.6 +0.8%
Consumer credit 8.7 8.6 8.7 8.6 8.7 8.6 8.6 8.7 8.9 +1.7%
Home loans 100.5 101.8 102.9 103.5 103.9 103.8 103.7 104.1 105.3 +1.3%
TOTAL 164.3 165.6 167.3 168.0 168.8 168.1 168.2 168.8 170.7 +1.1%

71 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

APPENDICES

ACTIVITY INDICATORS – FRB DIVISION

Revenues (€m)

Revenues (€m) Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 ∆ Q4/Q4

Net interest income * 470 455 451 532 493 454 500 491 454 (7.7%)
Home purchase savings plans (PEL/CEL) 0 0 0 52 6 0 1 0 0 (100.0%)
Net interest income excl. HPSP 470 455 451 480 487 454 498 491 454 (6.6%)
Fee and commission Income 445 482 508 464 467 500 480 488 506 +8.4%
- Securities 25.6 30.9 30.3 30 33 33 30 28 31 (5.0%)
- Insurance 165.2 196.4 196.1 182 182 204 193 190 188 +3.7%
- Account management and payment
253.8 254.2 281.8 252 252 263 257 270 286 +13.5%
instruments
TOTAL 915 936 959 996 959 954 979 979 960 +0.1%
TOTAL excl. HPSP 915 936 959 944 953 954 978 979 960 +0.8%
* incl. other revenues

Revenues exlcuding HPSP

959 944 953 978 979 960

915 936 6
954 1
52

508 464 467 480 488 506

445 482 500

470 455 451 480 487 454 498 491 454

Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24

Home purchase savings plans (PEL/CEL) Fee and commission Income

Net interest income excl. HPSP

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 CRÉDIT AGRICOLE GROUP

APPENDICES

ACTIVITY INDICATORS – RB DIVISION

Customer assets and loans outstanding (€bn)

Customer assets (€bn)* Dec. 22 Mar. 23 Jun. 23 Sept. 23 Dec. 23 Mar. 24 Jun. 24 Sept. 24 Dec. 24 ∆ Dec./Dec.

Securities 44.2 46.2 46.8 46.7 47.5 49.4 46.8 48.4 47.8 +0.7%
Mutual funds and REITs 25.3 26.8 27.8 27.6 28.5 29.5 29.6 31.0 30.3 +6.1%
Life insurance 208.7 211.6 212.4 210.6 216.2 218.7 219.8 222.2 226.9 +5.0%
Off-balance sheet assets 278.2 284.6 287.1 284.9 292.2 297.6 296.2 301.6 305.0 +4.4%
Demand deposits 231.3 218.0 212.0 211.2 204.1 197.5 201.2 200.1 199.0 (2.5%)
Home purchase savings schemes 111.5 108.4 105.8 103.4 101.6 96.7 93.5 91.3 90.7 (10.7%)
Passbook accounts 191.6 197.1 198.1 199.4 203.8 206.0 207.6 209.6 215.8 +5.9%
Time deposits 42.3 52.8 63.1 73.0 86.3 95.3 99.3 100.3 100.4 +16.3%
On-balance sheet assets 576.7 576.4 579.0 586.9 595.8 595.5 601.5 601.3 605.9 +1.7%
TOTAL 854.9 861.0 866.1 871.9 888.0 893.1 897.8 903.0 910.9 +2.6%

Passbooks, o/w (€bn)* Dec. 22 Mar. 23 Juin 23 Sept. 23 Dec. 23 Mar. 24 Jun. 24 Sept. 24 Dec. 24 ∆ Dec./Dec.

Livret A 70.5 75.6 77.9 79.6 82.3 84.3 85.8 86.9 90.2 +9.7%
LEP 14.8 17.2 17.8 18.6 22.9 24.4 24.5 24.9 26.4 +15.3%
LDD 38.2 39.6 40.3 40.8 41.9 42.6 43.1 43.4 44.6 +6.6%
Mutual shareholders passbook account 12.4 13.1 13.5 13.9 13.9 14.7 15.3 15.9 16.6 +20.1%
* including customer financial instruments. Livret A, LDD and LEP outstandings before centralisation with the CDC.

Loans outstanding (€bn) Dec. 22 Mar. 23 Juin 23 Sept. 23 Dec. 23 Mar. 24 Jun. 24 Sept. 24 Dec. 24 ∆ Dec./Dec.

Home loans 384.2 387.2 390.5 392.1 392.7 390.7 390.4 391.0 392.0 (0.2%)
Consumer credit 22.9 22.9 23.2 23.2 23.6 23.5 23.6 23.9 24.3 +3.1%
SMEs 115.3 116.8 118.1 119.5 121.0 121.7 122.4 124.1 125.8 +3.9%
Small businesses 30.6 31.0 31.1 30.8 30.5 30.1 29.9 29.8 29.6 (2.9%)
Farming loans 44.6 45.5 46.3 46.5 46.0 46.3 46.8 47.2 46.6 +1.4%
Local authorities 33.7 33.3 33.2 32.7 32.4 31.4 30.8 29.7 29.5 (9.0%)
TOTAL 631.2 636.7 642.4 644.9 646.2 643.6 644.0 645.8 647.8 +0.2%

73 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE GROUP

APPENDICES

ACTIVITY INDICATORS – RB DIVISION

Fee and commission income breakdown/Evolution of credit risk

outstandings (€ m)

€m Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 ∆ Q4/Q4

Services and other banking transactions 232 228 227 227 209 240 230 231 238 +13.8%
Securities 68 77 68 65 71 80 76 77 77 +8.2%
Insurance 776 976 852 852 824 1,086 885 890 850 +3.2%
Account management and payment instruments 506 519 530 538 543 543 550 562 553 +1.9%
Net fees & commissions from other customer activities(1) 106 108 126 116 152 103 119 125 111 (27.1%)
TOTAL(1) 1,689 1,908 1,801 1,798 1,799 2,052 1,859 1,886 1,829 +1.7%
(1) Revenues generated by the subsidiaries of the Regional Banks, namely fees and commisions from leasing and operating leasing transactions

Regional Banks - Evolution of credit risk outstandings

€m Dec. 23 March 24 June 24 Sept. 24 Dec. 24

Gross customer loans outstanding 650,552 647,608 648,040 650,146 652,353

of which: impaired loans 11,516 11,875 12,172 12,272 12,119
Loans loss reserves (incl. collective reserves) 11,107 11,236 11,507 11,699 11,696
of which: loans loss reserves for Stage 1 & 2 outstandings 5,322 5,280 5,443 5,474 5,537
of which: loans loss reserves for Stage 3 outstandings 5,786 5,956 6,064 6,225 6,159
Impaired loans ratio 1.8% 1.8% 1.9% 1.9% 1.9%

Coverage ratio (excl. collective reserves) 50.2% 50.2% 49.8% 50.7% 50.8%

Coverage ratio (incl. collective reserves) 96.5% 94.6% 94.5% 95.3% 96.5%

74 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE GROUP

APPENDICES

CHANGE IN FRENCH RETAIL BANKING NEW LOANS PRODUCTION

LCL new loans production (excluding SGL) since 2018 (€Bn)

Average prod. Average prod. Average prod. Average prod. Average prod. Average prod. Average prod.
8.8 7.3 8.9 10.5 6.8 6.8
8.2

11.9
11.2
9.6 10.1 9.7 9.5
9.0 9.2 8.7 8.9 9.2 3.6 9.2
8.2 8.0 3.0 8.5
7.6 7.8 2.2 7.5
2.1 6.9 7.0 2.5 2.6 7.2 7.0 6.8
6.6 2.4 2.8 1.9 6.5 2.6 1.5 2.4 6.3
2.5 2.1 2.4 1.1 1.9 1.1 1.6 6.0 2.8
0.9 1.2 1.8
1.6 1.2 1.2 1.5 1.3 1.4 1.8 5.1 2.5
2.2 1.1 1.0 1.1 1.3 1.3 2.1
1.0 1.1 1.1 1.0 1.2 1.6 2.2 2.4 1.4
1.1 1.2 1.1 1.7 1.0
0.9 5.6 5.9 6.1 5.8 1.1
4.9 4.5 4.3 4.9 4.5 5.2 4.6 4.7 1.1 1.0
3.9 4.2 3.9 3.7 3.9 3.9 3.3 3.6 3.3 3.3 3.7
2.8 2.8 2.3 1.9
1.6
0.7 0.8 0.8 0.8 0.7 0.9 0.9 0.8 0.7 0.5 0.8 0.7 0.7 0.7 0.9 0.8 0.8 0.8 0.8 0.7 0.7 0.7 0.7 0.7 0.6 0.6 0.7 0.6
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023 2023 2024 2024 2024 2024

Consumer credit Homeloans Professionals Corporate

Regional banks new loans production (excluding SGL) since 2018 (€Bn)
Average prod. Average prod. Average prod. Average prod. Average prod. Average prod. Average prod.
25.3 27.6 26.7 29.5 30.5 24.5 20.9

31.3 32.3 31.1 31.8 31.6

30.0 30.4 30.5
28.8 28.0
27.3 26.7 26.1 26.8 26.3 26.6
25.0 25.9 25.9
23.1 23.7 11.1 22.9 24.2
11.6 21.7 10.7 9.3 12.5 10.4 13.2 22.5 21.3
9.1 11.9 20.0
8.0 10.2 9.7 8.6 9.3 10.7 18.0
8.8 10.8 11.5 11.0
8.5 8.6 5.6 9.5 11.7
10.9 9.1
9.5
8.9
17.5 16.9 15.8 18.9 18.0 18.6 16.1 16.9 17.9
13.9 15.7 14.7 14.7 14.2 14.9 15.2 16.3
12.6 13.0 13.9 13.0 12.9 11.5 10.4
9.6 8.5 10.2
7.2
2.0 2.3 2.2 2.4 2.1 2.3 2.2 2.7 2.0 1.4 2.4 2.2 2.1 2.4 2.1 2.4 2.2 2.3 2.1 2.1 2.0 2.0 1.9 2.0 1.8 2.0 2.0 2.1
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023 2023 2024 2024 2024 2024

Consumer credit Home loans Corporates-Professionals-Agriculture-public entities

75 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

APPENDICES

ACTIVITY INDICATORS – BPI DIVISION

Outstanding loans Q4-24 by entity
Loans outstandings/On-balance sheet deposits/Revenues by entity and by type of customer (%)
1% Italy
8% 1%

Poland

CA Italy (€bn) * sept 2022 Dec 22 Mar. 23 June 23 Sept 23 Dec 23 Mar 24 June 24 Sept 24 Dec. 24 ∆ Dec / Dec Egypt
Total loans outstanding 59.0 59.4 59.2 59.7 59.5 61.1 60.1 61.0 61.3 62.1 +1.7%
o/w retail customer loans 28.7 28.9 29.0 29.0 29.6 29.9 29.9 30.2 30.7 30.9 +3.2% Ukraine
90%
o/w professionals loans 9.6 9.2 9.0 8.9 8.7 8.6 8.0 7.9 7.9 7.9 (8.4%)
o/w corporates loans, including SMEs 18.1 18.4 18.4 18.8 18.2 19.5 19.1 19.7 19.6 20.2 +3.6%

On-balance sheet customer assets 60.4 62.3 61.9 63.7 64.5 65.7 65.5 65.3 64.2 66.0 +0.5% Outstanding on-B/S deposits
Off-balance sheet customer assets 49.3 49.6 49.4 49.5 48.8 50.1 50.8 51.4 53.2 54.0 +7.7% Q4-24 by entity
Total assets (€bn) 109.7 111.9 111.3 113.2 113.2 115.8 116.3 116.7 117.4 120.0 +3.6% 3% Italy
2%
8%
Poland

Egypt
IRB Others (€bn)** sept 2022 Dec 22 Mar. 23 June 23 Sept 23 Dec 23 Mar 24 June 24 Sept 24 Sept 24 ∆ Dec / Dec
Ukraine
Total loans outstanding 12.2 6.9 6.7 6.9 7.0 7.3 7.0 7.0 7.3 7.3 (0.2%) 87%
o/w retail customer loans 5.7 3.6 3.6 3.8 3.8 4.0 4.0 4.1 4.2 4.3 +6.8%
o/w SMEs and professionnals 0.4 0.3 0.3 0.3 0.3 0.3 0.3 0.4 0.4 0.4 +7.9%
o/w Large corporates 6.1 3.0 2.8 2.8 2.9 3.0 2.7 2.6 2.7 2.6 (10.6%)
Revenues Q4-24 by entity
On-balance sheet customer assets 14.2 9.8 9.6 10.2 10.3 11.2 10.0 10.2 10.2 11.2 (0.3%)
Off-balance sheet customer assets 1.8 0.5 0.6 0.6 0.6 0.7 0.8 0.8 0.9 0.9 +23.3%
Italy
5%
Total assets (€bn) 16.0 10.3 10.2 10.8 11.0 11.9 10.8 11.0 11.0 12.1 +1.2% 6%

12% Poland

Egypt
* Net of POCI outstandings
** Disposal of the controlling stake in Crédit du Maroc in Q4 2022 76% Ukraine

76 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

APPENDICES

ACTIVITY INDICATORS – BPI DIVISION

Revenues (€m)

IRB Italy - Changes in detailed revenues

Revenues (€m) Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 ∆ Q4/Q4
0
Net interest income 309 398 439 454 459 450 450 453 447 449 (0.2%)
Fee and commission Income 312 296 300 308 320 292 303 328 322 292 (0.1%)
- Fees and commissions on managed
126 117 132 122 117 100 145 139 129 118 +18.8%
assets
- Banking fees and commissions 186 179 168 186 204 193 158 189 194 173 (9.9%)
Autres revenus (4) (10) 21 (2) 4 (28) 21 4 (6) (7) n.s
TOTAL 618 684 761 760 783 714 775 784 764 733 +2.7%

77 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 Appendices
Crédit Agricole Group

78 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 GROUPE CRÉDIT AGRICOLE

APPENDICES

CONTRIBUTION OF THE BUSINESS LINES TO Q4-24 EARNINGS

Q4-24 (stated)
€m RB LCL IRB AG SFS LC CC Total

Revenues 3,276 960 993 2,037 915 2,108 (472) 9,817

Operating expenses excl. SRF (2,503) (647) (588) (930) (447) (1,298) 549 (5,863)
SRF - - - - - - - -
Gross operating income 773 313 405 1,107 468 810 77 3,954
Cost of risk (263) (78) (97) (11) (306) (93) (19) (867)
Equity-accounted entities 1 - - 29 43 7 - 80
Net income on other assets (2) 1 0 (0) (9) (1) (10) (20)
Income before tax 513 236 308 1,125 196 724 48 3,150
Tax (110) (44) (100) (313) (49) (166) (2) (784)
Net income from discont'd or held-for-sale ope. - - - - - - - -
Net income 404 192 207 813 147 557 46 2,366
Non controlling interests (1) (0) (31) (117) (24) (34) (11) (217)
Net income Group Share 403 192 177 696 124 523 35 2,149

Q4-23 (stated)
€m RB LCL IRB AG SFS LC CC Total

Revenues 3,227 959 1,000 1,550 880 1,936 (782) 8,769

Operating expenses excl. SRF (2,485) (654) (646) (726) (449) (1,209) 488 (5,682)
SRF - - - - - - - -
Gross operating income 742 305 353 824 431 727 (294) 3,088
Cost of risk (321) (96) (98) (4) (184) (39) (20) (762)
Equity-accounted entities (0) - (0) 29 40 5 - 73
Net income on other assets (1) 0 2 (5) (11) (1) (4) (19)
Income before tax 420 209 258 843 288 692 (328) 2,382
Tax (85) (39) (104) (172) (53) (130) 128 (455)
Net income from discont'd or held-for-sale ope. (0) - (10) - - - - (10)
Net income 336 170 144 671 235 562 (200) 1,918
Non controlling interests 0 0 (24) (123) (18) (25) (4) (194)
Net income Group Share 336 170 120 548 217 537 (204) 1,724

RB: Regional Banks; AG: Asset Gathering, including Insurance; IRB: International Retail Banking, SFS: Specialised financial services; LC: Large customers; CC: Corporate Centre

79 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 GROUPE CRÉDIT AGRICOLE

APPENDICES

CONTRIBUTION OF THE BUSINESS LINES TO 2024 EARNINGS

2024 (stated)
€m RB LCL IRB AG SFS LC CC Total

Revenues 13,110 3,872 4,153 7,633 3,520 8,652 (2,879) 38,060

Operating expenses excl. SRF (9,956) (2,448) (2,225) (3,365) (1,780) (5,039) 2,084 (22,729)
SRF - - - - - - - -
Gross operating income 3,155 1,424 1,928 4,268 1,740 3,613 (795) 15,332
Cost of risk (1,319) (373) (316) (29) (958) (117) (79) (3,191)
Equity-accounted entities 8 - - 123 125 27 - 283
Net income on other assets 1 5 0 (23) (12) 1 (13) (39)
Income before tax 1,849 1,056 1,612 4,339 895 3,523 (887) 12,388
Tax (423) (229) (536) (970) (187) (883) 341 (2,888)
Net income from discontinued or held-for-sale operations - - - - - - - -
Net income 1,425 827 1,076 3,369 708 2,641 (546) 9,500
Non controlling interests (2) (0) (160) (481) (82) (139) 4 (860)
Net income Group Share 1,423 827 916 2,889 625 2,502 (542) 8,640

2023 (stated)
€m RB LCL IRB AG SFS LC CC Total

Revenues 13,259 3,850 4,040 6,693 3,597 7,780 (2,728) 36,492

Operating expenses excl. SRF (9,702) (2,396) (2,189) (2,874) (1,673) (4,507) 1,877 (21,464)
SRF (111) (44) (40) (6) (29) (312) (77) (620)
Gross operating income 3,446 1,410 1,811 3,813 1,896 2,961 (928) 14,408
Cost of risk (1,152) (301) (463) (5) (871) (120) (28) (2,941)
Equity-accounted entities 9 - 1 102 130 21 - 263
Net income on other assets 5 21 3 (10) 71 2 (5) 88
Income before tax 2,308 1,130 1,353 3,900 1,237 2,865 (971) 11,821
Tax (551) (256) (425) (868) (306) (691) 350 (2,748)
Net income from discontinued or held-for-sale operations (0) - (3) 1 (0) - - (3)
Net income 1,756 874 924 3,033 931 2,174 (621) 9,071
Non controlling interests (0) (0) (145) (466) (79) (118) (4) (813)
Net income Group Share 1,756 874 780 2,566 851 2,056 (625) 8,258

RB: Regional Banks; AG: Asset Gathering, including Insurance; IRB: International Retail Banking, SFS: Specialised financial services; LC: Large customers; CC: Corporate Centre

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 CRÉDIT AGRICOLE GROUP

APPENDICES

ALTERNATIVE PERFORMANCE INDICATORS – SPECIFIC ITEMS

Q4-24 Q4-23 2024 2023
Impact on Impact on Impact on Impact on
Gross Gross Gross Gross
€m Net Net Net Net
impact* impact* impact* impact*
income income income income
DVA (LC) (26) (19) 6 4 20 15 (15) (11)
Loan portfolio hedges (LC) 2 1 2 1 8 6 (24) (18)
Home Purchase Savings Plans (LCL) - - 6 5 1 1 58 43
Home Purchase Savings Plans (CC) - - 5 4 (0) (0) 236 175
Home Purchase Savings Plans (RB) - - 74 55 63 47 192 142
Mobility activities reorganisation (SFS) - - - - - - 300 214
Check Image Exchange penalty (CC) - - - - - - 42 42
Check Image Exchange penalty (LCL) - - - - - - 21 21
Check Image Exchange penalty (RB) - - - - - - 42 42
Total impact on revenues
Degroof Petercam integration costs (AG)
(24)
(13)
(18)
(10)
93
-
69
-
93
(26)
69
(19)
851
-
650
- -€42m
ISB integration costs (LC) (27) (15) - - (97) (52) - - Net impact of specific
Mobility activities reorganisation (SFS) - - 4 3 - - (14) (10)
Total impact on operating expenses (39) (25) 4 3 (123) (72) (14) (10)
items on Q4-2024 Net
Mobility activities reorganisation (SFS) - - - - - - (85) (61) income Group share
Provision for risk Ukraine (IRB) - - - - (20) (20) - -
Total impact on cost of credit risk - - - - (20) (20) (85) (61)
Mobility activities reorganisation (SFS) - - - - - - (39) (39)
Total impact equity-accounted entities - - - - - - (39) (39)
ISB integration costs (LC) (2) - - (2) - -
Degroof Petercam aquisition costs (AG) 1 1 - - (22) (16) - -
Mobility activities reorganisation (SFS) - - - - - - 89 57
Total impact on Net income on other assets (1) 1 - - (24) (16) 89 57
Mobility activities reorganisation (SFS) - - 12 12 - - 12 12
Total impact on change of value of goodwill - - 12 12 - - 12 12
Mobility activities reorganisation (SFS) - - - 3 - - - 3
Total impact on tax - - - 3 - - - 3

Total impact of specific items (64) (42) 109 86 (74) (39) 814 611
Asset gathering (12) (9) - - (49) (36) - -
French Retail banking - - 80 59 65 48 312 248
International Retail banking - - - - (20) (20) - -
Specialised financial services - - 16 17 - - 263 176
Large customers (52) (33) 8 6 (70) (31) (39) (29)
Corporate centre - - 5 4 (0) (0) 277 216
* Impact before tax and before minority interests

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 CRÉDIT AGRICOLE GROUP

APPENDICES

Reconciliation between stated and underlying income – Q4-24

Q4-24 Specific Q4-24 Q4-23 Specific Q4-23 ∆ Q4/Q4 ∆ Q4/Q4

€m
stated items underlying stated items underlying stated underlying

Revenues 9,817 (24) 9,840 8,769 93 8,677 +11.9% +13.4%

Operating expenses excl.SRF (5,863) (39) (5,824) (5,682) 4 (5,686) +3.2% +2.4%
SRF - - - - - - n.m. n.m.
Gross operating income 3,954 (63) 4,017 3,088 97 2,991 +28.0% +34.3%
Cost of risk (867) 0 (867) (762) - (762) +13.9% +13.9%
Equity-accounted entities 80 - 80 73 - 73 +9.9% +9.9%
Net income on other assets (20) (1) (19) (19) - (19) +7.5% +2.2%
Change in value of goodwill 4 - 4 2 12 (9) +60.4% n.m.
Income before tax 3,150 (64) 3,214 2,382 109 2,274 +32.2% +41.4%
Tax (784) 16 (799) (455) (23) (432) +72.4% +85.1%
Net income from discont'd or held-for-sale ope. - - - (10) - (10) (100.0%) (100.0%)
Net income 2,366 (48) 2,414 1,918 86 1,832 +23.4% +31.8%
Non controlling interests (217) 7 (224) (194) - (194) +12.2% +15.6%
Net income Group Share 2,149 (42) 2,190 1,724 86 1,638 +24.6% +33.7%
Cost/Income ratio excl.SRF (%) 59.7% 59.2% 64.8% 65.5% -5.1 pp -6.4 pp

Crédit Agricole Group

€2,149m
Net income Group share
stated at Q4-24

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 CRÉDIT AGRICOLE GROUP

APPENDICES

Reconciliation between stated and underlying income – FY24

2024 Specific 2024 2023 Specific 2023 ∆ 2024/2023 ∆ 2024/2023
€m
stated items underlying stated items underlying stated underlying

Revenues 38,060 93 37,967 36,492 851 35,641 +4.3% +6.5%

Operating expenses excl.SRF (22,729) (123) (22,606) (21,464) (14) (21,450) +5.9% +5.4%
SRF - - - (620) - (620) (100.0%) (100.0%)
Gross operating income 15,332 (30) 15,362 14,408 837 13,572 +6.4% +13.2%
Cost of risk (3,191) (20) (3,171) (2,941) (84) (2,856) +8.5% +11.0%
Equity-accounted entities 283 (0) 283 263 (39) 302 +7.6% (6.1%)
Net income on other assets (39) (24) (15) 88 89 (1) n.m. x 18.9
Change in value of goodwill 4 - 4 2 12 (9) +60.4% n.m.
Income before tax 12,388 (74) 12,462 11,821 814 11,007 +4.8% +13.2%
Tax (2,888) 12 (2,900) (2,748) (203) (2,545) +5.1% +13.9%
Net income from discont'd or held-for-sale ope. - - - (3) - (3) (100.0%) (100.0%)
Net income 9,500 (62) 9,562 9,071 611 8,459 +4.7% +13.0%
Non controlling interests (860) 23 (883) (813) (0) (813) +5.8% +8.7%
Net income Group Share 8,640 (39) 8,679 8,258 611 7,647 +4.6% +13.5%
Cost/Income ratio excl.SRF (%) 59.7% 59.5% 58.8% 60.2% +0.9 pp -0.6 pp

Crédit Agricole Group

€8,640m
Net income Group share
stated in 2024

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 CRÉDIT AGRICOLE GROUP

APPENDICES

CRÉDIT AGRICOLE GROUP

Underlying revenues and net income Group share by business line excluding CC (€m)

Large Asset Large Asset

Asset
customers Asset Insurance gathering customers servicing gathering
21% servicing 7% Asset
19% 27% 4% 32%
5% management Insurance
CIB
8% 20%
16% Wealth
CIB
management
24%
Leasing & 3%
Fact. Asset
2% Underlying NIGS management
Underlying revenues
Leasing & excl. CC 2024: 9%
Consum. excl. CC 2024:
Spec. fin. Finance €40.8bn
Fact. €9.2bn Wealth
serv. 7% 2%
management
Consum.
9% 2%
IRB Finance
Regional
10% 5% Regional
Banks
IRB Banks
LCL 32%
Spec. fin. 10% 15% Retail
10% LCL
serv. 9% banking
Retail 7% 34%
banking
52%
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 CRÉDIT AGRICOLE GROUP

APPENDICES

FINANCIAL STRUCTURE AND BALANCE SHEET

Phased-in Change in CAG phased-in CET1 ratio

Solvency (€bn) (2024 vs 2023)
31/12/24 31/12/23
Share capital and reserves 32.0 31.2
Consolidated reserves 103.0 97.9
Other comprehensive income (1.8) (2.2)
Net income (loss) for the year 8.6 8.3
EQUITY - GROUP SHARE 141.9 135.1
(-) Expected dividend (1.6) (1.7)
(-) AT1 instruments accounted as equity (7.2) (7.2)
Eligible minority interests 4.2 3.7
(-) Prudential filters (2.2) (1.5)
o/w: Prudent valuation (2.7) (2.2) +103 pb -104 pb

(-) Deduction of goodwills and intangible assets (19.1) (18.3) 17.5% ​

​ -34 pb
Deferred tax assets that rely on future profitability excluding those arising from temporary differences (0.0) (0.1) ​ 17.2%

Shortfall in adjustments for credit risk relative to expected losses under the internal ratings-based approach (0.4) (0.4)

Amount exceeding thresholds 0.0 0.0

Insufficient coverage for non-performing exposures (Pillar 2) (1.4) (1.3)
Other CET1 components (1.9) (1.4)
COMMON EQUITY TIER 1 (CET1) 112.2 106.9
Additionnal Tier 1 (AT1) instruments 7.4 6.0
Dec. 23 Retained result Business lines Regulatory effects Déc. 24
Other AT1 components (0.1) (0.2)
organic growth and others
TOTAL TIER 1 119.5 112.6
Tier 2 instruments 16.0 15.0
Other Tier 2 components 1.4 1.2
TOTAL CAPITAL 136.9 128.9

RWAs 653.4 609.9

CET1 ratio 17.2% 17.5%

Tier 1 ratio 18.3% 18.5%
Total capital ratio 20.9% 21.1%

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 GROUPE CRÉDIT AGRICOLE

APPENDICES

FINANCIAL STRUCTURE AND BALANCE SHEET

Balance sheet (€bn)

Assets 31/12/2024 31/12/2023 Liabilities 31/12/2024 31/12/2023

Cash and Central banks 165.8 * 180.7 Central banks 1.4 * 0.3
* *
Financial assets at fair value through profit or loss 607.5 527.3 Financial liabilities at fair value through profit or loss 407.8 353.9

Hedging derivative instruments 27.6 32.1 Hedging derivative instruments 32.1 34.4
Financial assets at fair value through other comprehensive
234.5 224.4
income
Loans and receivables due from credit institutions 145.5 132.4 Due to banks 88.2 108.5

Loans and receivables due from customers 1188.8 1155.9 Customer accounts 1164.5 1121.9

Debt securities 123.6 111.3 Debt securities in issue 291.2 260.2

Revaluation adjustment on interest rate hedged portfolios -5.0 -14.7 Revaluation adjustment on interest rate hedged portfolios -7.7 -12.2

Current and deferred tax assets 7.6 8.8 Current and deferred tax liabilities 2.9 2.9

Accruals, prepayments and sundry assets 54.0 59.8 Accruals and sundry liabilities 70.9 72.2

Non-current assets held for sale and discontinued operations 0.8 0.0 Liabilities associated with non-current assets held for sale 0.2 0.0

Insurance contrats issued- Assets 0.0 ‐ Insurance contrats issued - Liabilities 366.5 351.8

Reinsurance contracts held - Assets 1.0 1.1 Reinsurance contracts held - Liabilities 0.1 0.1

Investments in equity affiliates 2.5 2.4

Investment property 12.1 12.2 Provisions 5.7 5.5

Property, plant and equipment 14.6 13.4 Subordinated debt 29.1 25.2

Intangible assets 3.8 3.5 Shareholder's equity 141.9 135.1

Goodwill 16.9 16.5 Non-controlling interests 6.9 7.2

Total assets 2,601.7 2,467.1 Total liabilities 2,601.7 2,467.1

86 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 Appendices
Legal risks

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 CRÉDIT AGRICOLE S.A.

APPENDICES

LEGAL RISKS

In the normal
Risques course of business, Crédit Agricole S.A. is regularly subject to litigation proceedings, as well as requests for information, investigations, controls and other regulatory or
juridiques
judicial procedures from various institutions in France and abroad. The provisions recognized reflect the management’s best judgement, considering the information in its possession at the
closing date of the accounts.
The main legal and tax proceedings outstanding at Crédit Agricole S.A. and its fully consolidated subsidiaries are described in the 2023 management report.
With respect to the exceptional events and the litigations set out in this report and updated in the third quarter of 2024 in the A04, the new developments are mentioned:

• In the part relating to “Euribor/Libor and other indexes”,

• In the second and last paragraphs of the part relating to “Bonds SSA”,

• In the part relating to “O’Sullivan and Tavera”,

• In the second and third paragraphs of the part relating to “H2O unit-holders claim”.

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APPENDICES

LEGAL RISKS

Office of Foreign Assets Control (OFAC)

In October 2015, Crédit Agricole S.A. and its subsidiary Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB) reached agreements with the US and New York authorities that
had been conducting investigations regarding US dollar transactions with countries subject to US economic sanctions. The events covered by this agreement took place between 2003 and
2008.
Crédit Agricole CIB and Crédit Agricole S.A., which cooperated with the US and New York authorities in connection with their investigations, have agreed to pay a total penalty amount of
$787.3 million (i.e. €692.7 million). The payment of this penalty has been allocated to the pre-existing reserve that had already been taken and, therefore, has not affected the accounts for
the second half of 2015.
The agreements with the Board of Governors of the Federal Reserve System (Fed) and the New-York State Department of Financial Services (NYDFS) are with CASA and Crédit Agricole CIB.
The agreement with the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury is with Crédit Agricole CIB. Crédit Agricole CIB also entered into separate deferred
prosecution agreements (DPAs) with the United States Attorney’s Office for the District of Columbia (USAO) and the District Attorney of the County of New York (DANY), the terms of which
are three years. On October 19, 2018 the two deferred prosecution agreements with USAO and DANY ended at the end of the three year period, Crédit Agricole CIB having complied with
all its obligations under the DPAs.
Crédit Agricole continues to strengthen its internal procedures and its compliance programs regarding laws on international sanctions and will continue to cooperate fully with the US and
New York authorities with its home regulators, the European Central Bank and the French Regulatory and Resolution Supervisory Authority (ACPR), and with the other regulators across its
worldwide network.
Pursuant to the agreements with NYDFS and the US Federal Reserve, Crédit Agricole’s compliance program is subject to regular reviews to evaluate its effectiveness, including a review by
an independent consultant appointed by NYDFS for a term of one year and annual reviews by an independent consultant approved by the Federal Reserve.
.

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 CRÉDIT AGRICOLE S.A.

APPENDICES

LEGAL RISKS

Euribor/Libor and other indexes

Risques juridiques
Crédit Agricole S.A. and its subsidiary Crédit Agricole CIB, in their capacity as contributors to a number of interbank rates, have received requests for information from a number of
authorities as part of investigations into: (i) the calculation of the Libor (London Interbank Offered Rates) in a number of currencies, the Euribor (Euro Interbank Offered Rate) and certain
other market indices; and (ii) transactions connected with these rates and indices. These demands covered several periods from 2005 to 2012.
As part of its cooperation with the authorities, Crédit Agricole S.A. and its subsidiary Crédit Agricole CIB carried out investigations in order to gather the information requested by the various
authorities and in particular the American authorities – the DOJ (Department of Justice) and CFTC (Commodity Future Trading Commission) – with which they were in discussions Since then,
these authorities have not come forward to Crédit Agricole S.A. or Crédit Agricole CIB.
Furthermore, Crédit Agricole CIB is currently under investigation opened by the Attorney General of the State of Florida on both the Libor and the Euribor. This authority has not come
forward to Crédit Agricole CIB since then.
Following its investigation and an unsuccessful settlement procedure, on 21 May 2014, the European Commission sent a statement of objection to Crédit Agricole S.A. and to Crédit Agricole
CIB pertaining to agreements or concerted practices for the purpose and/or effect of preventing, restricting or distorting competition in derivatives related to the Euribor.
In a decision dated 7 December 2016, the European Commission jointly fined Crédit Agricole S.A. and Crédit Agricole CIB 114,654,000 euros for participating in a cartel in euro interest rate
derivatives. Crédit Agricole S.A. and Crédit Agricole CIB are challenging this decision and have asked the General Court of the European Union to overturn it. On December 20, 2023, the
Court handed down its decision, reducing the fine to 110,000,000 euros and dismissing certain conduct attributed to Crédit Agricole S.A. and Crédit Agricole CIB, but rebutting most of the
arguments raised by Crédit Agricole S.A. and Crédit Agricole CIB. Crédit Agricole S.A. and Crédit Agricole CIB filed an appeal against this decision before the EU Court of Justice on March 19,
2024. The European Commission filed a cross-appeal also requesting the annulment of the decision of the General Court of the European Union.

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APPENDICES

LEGAL RISKS
Bonds SSA
Several regulators requested information to Crédit Agricole S.A. and to Crédit Agricole CIB for investigations relating to activities of different banks involved in the secondary trading of
Risques juridiques
Bonds SSA (Supranational, Sub-Sovereign and Agencies) denominated in American dollars. Through the cooperation with these regulators, Crédit Agricole CIB proceeded to internal inquiries
to gather the required information available. On 20 December 2018, the European Commission issued a Statement of Objections to a number of banks including Crédit Agricole S.A. and
Crédit Agricole CIB within its inquiry on a possible infringement of rules of European Competition law in the secondary trading of Bonds SSA denominated in American dollars. Crédit
Agricole S.A. and Crédit Agricole CIB became aware of these objections and issued a response on 29 March 2019, followed by an oral hearing on 10-11 July 2019.
In a decision dated 28 April 2021, the European Commission jointly fined Crédit Agricole S.A. and Crédit Agricole CIB € 3,993,000 for participating in a cartel in the secondary trading market
of Bonds SSA denominated in American dollars. On 7 July 2021, Crédit Agricole S.A. and Crédit Agricole CIB appealed this decision to the General Court of the European Union. The Court
dismissed this appeal on 6 November 2024.
Crédit Agricole CIB was included with other banks in a putative consolidated class action before the United States District Court for the Southern District of New York. That action was
dismissed on 29 August 2018 on the basis that the plaintiffs failed to allege an injury sufficient to give them standing. However the plaintiffs were given an opportunity to attempt to remedy
that defect. The plaintiffs filed an amended complaint on 7 November 2018. Crédit Agricole CIB as well as the other defendants filed motions to dismiss the amended complaint. An order
issued on 30 September 2019 dismissed the class action against CACIB for lack of personal jurisdiction and, in a subsequent ruling, the Court held that the plaintiffs had in any event failed to
state a claim for violation of US antitrust law. In June 2020, the plaintiffs took an appeal from both Court’s orders. On 19 July 2021, the Second Circuit Court of Appeals affirmed the district
court’s holding that plaintiffs had failed to state a claim for violation of US antitrust law. Plaintiffs’ deadline to seek further review of the district court’s decision from the US Supreme Court
passed on 2 December 2021 without plaintiffs seeking review by that Court. Plaintiffs subsequently sought leave to file a motion to vacate the trial court’s judgment, on the basis that the
trial court judge had not disclosed a conflict of interest at the outset of the action. The action was reassigned to a new judge for purposes of considering that request, and that new judge
ordered the parties to brief the issue for her review. On 3 October 2022, that judge, District Judge Valerie Caproni, issued an opinion and order denying the plaintiffs’ motion to vacate the
judgment and instructing the Clerk of Court to close the case. Plaintiffs did not take an appeal from Judge Caproni’s ruling.
On 7 February 2019, a second class action was filed against CACIB and the other defendants named in the class action already pending before the United States District Court for the
Southern District of New York. In July 2020, the plaintiffs voluntarily discontinued the action.
On 11 July 2018, Crédit Agricole S.A. and Crédit Agricole CIB were notified with other banks of a class action filed in Canada, before the Ontario Superior Court of Justice. Another class action
was filed in the Federal Court of Canada. The action before the Ontario Superior Court of Justice was dismissed on 19 February 2020. The Crédit Agricole defendants have reached an
agreement in principle to resolve the proceedings before the Federal Court. The final agreement was approved by the Federal Court on 15 November 2024.

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APPENDICES

LEGAL RISKS
O’Sullivan and Tavera
On November
Risques 9, 2017, a group of individuals, (or their families or estates), who claimed to have been injured or killed in attacks in Iraq filed a complaint (“O’Sullivan I”) against several banks
juridiques
including Crédit Agricole S.A., and its subsidiary Crédit Agricole Corporate Investment Bank (Crédit Agricole CIB), in US Federal District Court in New York.
On December 29, 2018, the same group of individuals, together with 57 new plaintiffs, filed a separate action (“O’Sullivan II”) against the same defendants.
On December 21, 2018, a different group of individuals filed a complaint (“Tavera”) against the same defendants.
All three complaints allege that Crédit Agricole S.A., Crédit Agricole CIB, and other defendants conspired with Iran and its agents to violate US sanctions and engage in transactions with Iranian
entities in violation of the US Anti-Terrorism Act and the Justice Against Sponsors of Terrorism Act and seek an unspecified amount of compensatory damages.
In O’Sullivan I, the court dismissed the complaint on 28 March 2019, denied plaintiffs’ motion to amend their complaint on 25 February 2020, and denied plaintiffs’ motion for a final judgment to
allow the plaintiffs to appeal on 29 June 2021. On 9 November 2023, the court stayed the O’Sullivan I case until resolution of certain motions in three Anti-Terrorism Act cases to which Crédit
Agricole S.A. and Crédit Agricole CIB are not parties - Freeman v. HSBC Holdings, PLC, No. 14-cv-6601 (E.D.N.Y.) (“Freeman I”), Freeman v. HSBC Holdings plc, No. 18-cv-7359 (E.D.N.Y) (“Freeman
II”) and Stephens v. HSBC Holdings plc, No. 18-cv-7439 (E.D.N.Y).
The O’Sullivan II case is stayed until resolution of the O’Sullivan I case since 20 December 2023.
The Tavera case also is stayed until resolution of certain motions in Freeman I, Freeman II, and Stephens since 17 October 2024.

Crédit Agricole Consumer Finance Nederland B.V.

The conditions for the review of the interest rates of revolving loans marketed by Crédit Agricole Consumer Finance Nederland BV, a fully owned subsidiary of Crédit Agricole Consumer Finance
SA, and its subsidiaries are the subject of borrowers’ claims relating to the criteria for revising these rates and possible overpayments of interests.
On 21 January 2019, in 2 individual cases concerning two subsidiaries of Crédit Agricole Consumer Finance Nederland BV, the Appeals Committee of KIFID (the Financial Services Complaints
Authority) in the Netherlands decided that in case the consumers had no or insufficient information on the specific factors that determine the interest rate, the individual interest rate needed to
follow the movement of market interest rates on consumer loans.
Crédit Agricole Consumer Finance Nederland BV implemented a compensation plan for the benefit of the borrowers in May 2020 which considers the aforementioned decisions of KIFID. Other
institutions in the Netherlands have implemented compensation plans. Crédit Agricole Consumer Finance Nederland B.V. Supervisory board decided to close this compensation plan on 1st March
2021.

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APPENDICES

LEGAL RISKS
CACEIS Germany
CACEIS Germany received from the Bavarian tax authorities on 30 April 2019 a claim for the repayment of the dividend tax refunded to a number of its customers in 2010.
Risques juridiques
This claim amounted to 312 million euros. It was accompanied by a demand for the payment of 148 million euros of interests (calculated at the rate of 6% per annum).
CACEIS Germany (CACEIS Bank SA) strongly challenge this claim that it finds to be totally unfounded. CACEIS Germany filed several claims before the Munich Tax office in order to, on the one
hand, challenge the Munich Tax office’s claim for the repayment of the dividend tax and, on the other hand, request a stay of enforcement of the payment obligation pending a final decision on
the substance. The stay of enforcement was granted for the payment of 148 million euros of interests and rejected for the repayment of the amount of 312 million euros. CACEIS Bank SA
appealed against the decision to reject. The rejection being enforceable, the sum of 312 million euros was paid by CACEIS Bank SA which, given the ongoing appeal proceedings, recorded a claim
for an equivalent amount in its accounts. As CACEIS Bank SA’s arguments have been rejected by the Munich Tax office on 25 November 2022, CACEIS Bank SA filed on 21 December 2022 a
lawsuit with the Munich Tax Court against the said Munich Tax office’s decision and against the claim for the repayment of the dividend tax. As CACEIS Bank SA is confident in its arguments, it
has not made any modification to its accounts.

CA Bank Polska
Between 2007 and 2008, CA Bank Polska as well as other Polish banks granted mortgage loans denominated in or indexed to Swiss currency (CHF) and repayable in PLN currency. The significant
raise of the CHF exchange rate against Polish currency (PLN) led to an important increase in the cost of repayment for borrowers.
Given that courts consider that the mortgage provisions which allow banks to unilaterally determine the applicable exchange rate are unfair, the number of cases raised against the banks is
constantly growing.
In May 2022, CA Bank Polska opened a settlement program of the claims raised by the borrowers.

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APPENDICES

LEGAL RISKS

H2O unit-holders claim

Risques juridiques
On 20 and 26 December 2023, 6,077 natural and legal persons, members of an association called "Collectif Porteurs H2O", summoned CACEIS Bank before the Paris Commercial Court alongside
companies Natixis Investment Managers and KPMG Audit, in the context of an action mainly brought against the companies H2O AM LLP, H2O AM Europe SAS, and H2O AM Holding.
On May 28, 2024, new persons joined the proceedings pending before the Paris Commercial Court, bringing the total number of plaintiffs up to 9,004. On 17 December 2024, the number of
plaintiffs was reduced to 8,990.
The plaintiffs present themselves as unit holders of funds managed by H2O group companies, some of whose assets were hived off into "side pockets" in 2020, or holders of life insurance
policies invested in units of such funds. Plaintiffs are seeking all defendants to be held severally liable for the damages allegedly caused to them by the hiving-off of the funds, which they
assessed to be in the amount of EUR 824,416,491.89 on 28 May, 2024. This assessed amount was reduced to EUR 750,890,653.73 on 17 December,2024.
In order to seek the liability "in solidum" of CACEIS Bank with the H2O group and the other co-defendants, the plaintiffs allege that it breached its supervisory obligations as custodian of the
funds.

Binding agreements
Crédit Agricole S.A. does not depend on any industrial, commercial or financial patent, license or contract.

94 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 Ratings

95 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

APPENDICES

FINANCIAL RATINGS (1)

Ratings

Crédit Agricole S.A. - Ratings

LT / ST Issuer / LT senior Outlook / Issuer / ST senior Last review

Ratings Rating action
Counterparty preferred debt Review preferred debt date

S&P Global LT / ST ratings affirmed;

AA-/A-1+ (RCR) A+ Stable outlook A-1 01/10/2024
Ratings outlook unchanged
LT ratings and outlook changed; ST ratings affirmed
Moody’s Aa3/P-1 (CRR) A1 Stable outlook P-1 17/12/2024

LT / ST ratings affirmed;
Fitch Ratings AA- (DCR) A+/AA- Stable outlook F1/F1+ 18/12/2024
outlook unchanged

AA (high) / R-1 LT / ST ratings affirmed;

DBRS AA (low) Stable outlook R-1 (middle) 19/07/2024
(high) (COR) outlook unchanged

1. The ratings reflect the analysis of Crédit Agricole Group

96 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CASA’S RATINGS (2) REFLECT A WELL-DIVERSIFIED BUSINESS MODEL AND
SOUND FINANCIAL MANAGEMENT

• “Sound earnings, cooperative status, and conservative capital policy support the Group’s very solid capital position.”.”
• “Firm leader in the French retail banking market, generating good and predictable risk-adjusted earnings”.
• “Increasingly diverse business model and income sources, with leading franchises, notably in retail banking, insurance,
A+ stable (1)
and asset management.”
As of 11/10/2024

• “Robust capital generation stemming from stable and diversified earnings and high profit retention at group level”
• ““Solid asset quality”
• Moody’s expects the rating of senior unsecured debt(1) “will be less sensitive to a potential future adoption of full depositor
A1 stable (1)
preference in Europe”
As of 18/12/2024

• ““Sufficient rating headroom to potentially withstand a one-notch downgrade of the French sovereign to A+, or the
revision of the operating environment (OE) score,
• given the group’s strong business profile, sound profitability metrics,
A+/AA- stable(1)
• and ample capital and liquidity buffers.”
As of 18/12/2024

1. Issuer credit rating/Long Term Senior Preferred Debt rating

2. The ratings reflect the analysis of Crédit Agricole Group

97 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

 CRÉDIT AGRICOLE S.A.

APPENDICES

NON-FINANCIAL RATINGS

Moody’s Analytics ISS ESG MSCI Sustainalytics1 CDP Climat

AAA
Crédit Agricole S.A. 71 C+ AA 20.1 > 0 A-

BNP Paribas 73 C+ AA 20.7 > 0 A

Société Générale 72 C+ 20 <10

AA 18.9 > 0 B

Banco Santander 65 C+ AA 17.1 > 0 A-

UniCredit 65 C AA 12.5 > 0 B

B.F. Crédit Mutuel 64 C AA

< 21.5 > 0

Barclays plc 62 C AA 21.7 > 0 B

BPCE S.A. 61 C AA 21 > 0 B

ING Group 54 C+ AA
< 14.5 > 0 C

Deutsche Bank 54 C+ AA 24.8 > 0 B

UBS Group 53 C AA 26.8 > 0 A-

Standard Chartered 50 C AA 25 > 0 A-

HSBC Holdings 48 C AA
< 24.2 > 0 A-

1. ESG risk score on an inverted scale (100-0): the lower the score, the better the ESG risk
A-

98 FOURTH QUARTER AND FULL YEAR 2024 RESULTS

LIST OF CONTACTS:

CRÉDIT AGRICOLE S.A. INVESTOR RELATIONS CONTACTS: CRÉDIT AGRICOLE PRESS CONTACTS:
Institutional investors + 33 1 43 23 04 31 [email protected] Alexandre Barat + 33 1 57 72 12 19 [email protected]
Individual shareholders + 33 800 000 777 [email protected] Olivier Tassain + 33 1 43 23 25 41 [email protected]
(toll-free call in France only) Mathilde Durand + 33 1 57 72 19 43 [email protected]
Bénédicte Gouvert + 33 1 49 53 43 64 [email protected]

Cécile Mouton + 33 1 57 72 86 79 [email protected]

Jean-Yann Asseraf + 33 1 57 72 23 81 [email protected]
Fethi Azzoug + 33 1 57 72 03 75 [email protected]
Oriane Cante + 33 1 43 23 03 07 [email protected]
Nicolas Ianna + 33 1 43 23 55 51 [email protected]
Leïla Mamou + 33 1 57 72 07 93 [email protected]
Anna Pigoulevski + 33 1 43 23 40 59 [email protected]

This presentation is available at:

www.credit-agricole.com/en/finance/finance/financial-publications
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@Crédit_Agricole Crédit Agricole Group @créditagricole_sa

99 FOURTH QUARTER AND FULL YEAR 2024 RESULTS