ACTIVITY REPORT 2021 BEYOND THE RESULTS, THE RELEVANCE OF A MODEL OLIVIER KLEIN CHIEF EXECUTIVE OFFICER How were the BRED Group’s results in 2021? The BRED Group achieved excellent results in 2021 , with an NBI of €1 ,456m and net income of €412m, up respectively by 61% and 129% since 2012. The BRED Group’s cost-to- 2021 was a year in income ratio of 55.1% and the change in its shareholders’which BRED achieved equity emphasise the effectiveness and strength of our bank, and its ability to contribute, alongside its customers, recognition to the development of its territories. These achievements are driven by all of our businesses, and in particular by commercial banking in France, which recorded an increase in revenue in 2021of 5.4% and a continuous cumulative increase of 50% since 2012, therebythe Label of Excellence by the Dossiers de l’Épargne. Not easily outperforming the market. Abroad, the BRED Groupforgetting that its subsidiary in Laos was named the best has also strengthened its positioning with growth in NBIcorporate bank in the country. of 25.7% at constant exchange rates, despite the closure of borders due to the pandemic in some countries where we are present. Finally, our trading desk maintained a veryHowever, beyond the figures and awards in 2021 , what I good level of earnings. retain above all from that year, and what represents our main source of collective pride, is the relevance of the strategy 2021 was also a year in which BRED achieved recognition.introduced ten years ago: banking without distance, which In particular, it was chosen by the European Commission tohas given rise in recent years to “100% advisory banking”. place its bond issues, won second prize in the category “bestThis strategy is an unprecedented source of resilience in an affiliated private bank” at the Sommet du Patrimoine et de laenvironment that is still heavily constrained by the structure Performance, won an award for the best banking individualof interest rates, the technological revolution, and more retirement savings plan on the market, and was awardedrecently by the health crisis. It has guided all our decisions to combine the protection of employees with support for our customers and territories. Applied to each of our businesses, it has enabled us to achieve outstanding performance over the last ten years. 13 Open to the world