ACTIVITY REPORT 2021 THE COOPERATIVE MODEL PROXIMITY IS PART OF BRED’S IDENTITY True to its original calling and to the cooperative values that led to its creation, BRED is a bank at the heart of the economic and social life of the regions in which it operates. Its activities are built on the strength of its cooperative model, which gives it a long-term view of the banking relationship and ensures that human relations have priority. This model is central to its commitment to its customers, members, partners and employees, to contribute in a lasting manner to the development of the territories. Its cooperative model is more relevant than ever to deal with economic, human, cultural, regulatory and security issues. A bank that belongs to its cooperative customers BRED’s capital is held in the form of shares by its cooperative customers, represented at the highest level by the directors, who are themselves members, committed men and women from all professional sectors. Each year, the members are required to approve the important decisions made by BRED at general meetings. In addition, the members meet regularly throughout the year in BRED’s branches, to discuss its business and projects. This link was maintained during the health crisis by holding meetings via video conference. Its governance therefore guarantees a long-term view and balanced management, far from the pressure of the financial markets. It ensures that customers’ interests are perfectly balanced with those of BRED. The support of its cooperative customers for its cooperative model grows stronger each year as is shown by the success of the capital increase in 2021 . 35 Open to the world