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CREDIT UPDATE FOURTH QUARTER AND FULL YEAR 2025
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Disclaimer This document has been prepared by Crédit Agricole S.A. on the basis of proprietary information and is available on its website (https://www.credit-agricole.com/en/finance/debt-and-ratings). It may not be reproduced by any person, or be forwarded or distributed to any person unless so authorised by Crédit Agricole S.A.. Failure to comply with this directive may result in a violation of applicable laws. None of Crédit Agricole S.A. or its affiliates, advisers, dealers or representatives takes any responsibility for the use of these materials by any person. This document does not constitute regulated financial information on Crédit Agricole S.A. and Crédit Agricole Group. Regulatory financial information comprises the periodic financial results presentations, the financial reports, the registration document and the updates thereto, which are available on Crédit Agricole S.A.’s website (https://www.credit-agricole.com/en/finance/financial- publications). Some of, but not all, the data presented in this document is derived from the aforementioned regulatory financial information. Save for the data that has been directly extracted from publications which have been reviewed by the Statutory auditors of Crédit Agricole S.A., the information contained in this document has not been independently verified. No representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. None of Crédit Agricole S.A. or its affiliates, advisers, dealers or representatives, or any other person, shall have any liability whatsoever (in negligence or otherwise) for any loss arising from any use of this document or its contents or otherwise arising in connection with this document. This document is for preliminary informational purposes only and is not an offer to sell or the solicitation of an offer to purchase or subscribe for any securities and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. This document is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. This document may contain forward-looking information and prospective statements about Crédit Agricole S.A., that are not historical facts. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Such statements do not represent profit forecasts within the meaning of European Delegated Regulation (EU) 2019/980 of 14 March 2019, as amended from time to time. Forward- looking statements may be identified by the words “believe,” “expect,” “anticipate,” “target” or similar expressions. Although Crédit Agricole S.A.’s management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Crédit Agricole S.A., that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to, those discussed or identified in the annual reports and other filings with the French Autorité des marchés financiers made or to be made by Crédit Agricole S.A. Crédit Agricole S.A. undertakes no obligation to publicly update its forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-Looking and Prospective Statements
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3 CREDIT UPDATE Q4-25 & FULL YEAR 2025 Crédit Agricole Group Q4-25 Highlights ESG Ambitions Credit story Summary and key figures Capital, Liquidity & Funding Asset Quality Appendices
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4 CREDIT UPDATE Q4-25 & FULL YEAR 2025 Summary and key figures
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5 CREDIT UPDATE Q4-25 & FULL YEAR 2025 Crédit Agricole Group 2.2% FY25 NPL ratio Stable Q4/Q3 Crédit Agricole Group €8.8bn FY-25 net income +1.3% 2025/2024 Crédit Agricole Group €39.6bn FY-25 revenues +3.9% 2025/2024 Crédit Agricole S.A. 13.5% ROTE (2) 2025 Crédit Agricole Group 17.4% Phased-in CET1 +7.6pp vs SREP requirement DYNAMIC ACTIVITY AND STRONG RESULTS IN 2025 • Strong annual results, supported by dynamic activity across all business lines and despite the additional corporate tax charge (1) • Solid asset quality • 2026 funding plan set at €18bn, 32% already completed as of end-January 2026 • CET1 ratio above 17%, Group’s solvency position highest among European GSIBs • High profitability (1) Additional corporate tax charge: -€147m for Crédit Agricole S.A. and -€280m for Crédit Agricole Group (2) Calculated on the basis of tangible equity restated of all unrealised gains and/or losses
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6 CREDIT UPDATE Q4-25 & FULL YEAR 2025 KEY FIGURES Revenues Gross operating income Net Income Group Share (1) CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. Revenues Gross operating income Net Income Group share (1) Cost/income ratio CET 1 Phased-in CoR / outstandings 4 rolling quarters Liquidity reserves 59.6% -0.1pp 12M/12M 28bps +1bp Q4/Q3 17.4% -0.2pp Dec./Sept. €485bn -0.6% Dec/Sept. Cost/income ratio CET 1 Phased-in CoR / outstandings 4 rolling quarters ROTE (2) 55.7% +0.9pp 12M/12M 35bps Stable Q4/Q3 11.8% +0.1pp Dec./Sept. 13.5% Stable 12M/12M €9,971m +1.6% Q4/Q4 €4,054m +2.5% Q4/Q4 €1,634m -23.9% Q4/Q4 €6,966m -1.8% Q4/Q4 €2,867m -9.7% Q4/Q4 €1,025m -39.3% Q4/Q4 €39,558m +3.9% 2025/2024 €15,990m +4.3% 2025/2024 €8,754m +1.3% 2025/2024 €28,079m +3.3% 2025/2024 €12,451m +1.3% 2025/2024 €7,074m Stable 2025/2024 2025 2025 4th QUARTER 20254th QUARTER 2025 (1) Impact of the additional corporate tax charge of -€280 million for Crédit Agricole Group and -€147 million for Crédit Agricole S.A. in 2025 (2) ROTE calculated on the basis of tangible equity restated of all unrealised gains and/or losses
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7 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP THE GROUP CONTINUED TO GROW IN 2025 Acquisitions Switzerland Joint acquisition plan by LCL and CA Assurances France Proposed acquisition of the BNPP portfolio in Monaco Leasing solutions for German SMEs Acquisition in France Majority stake acquisition by CA Transition & Energies Sources: Refinitiv/Bloomberg Premium income Insurance €52bn +20% 12M/12M Retail banking loan production France, Italy and Poland €140bn +15% 12M/12M Customer capture France, Italy and Poland 2,100,000 new customers in 2025 Corporate and investment banking #1 EUR Green, Social & Sustainable bonds #4 All Bonds in EUR Worldwide #2 Syndicated loans – EMEA Net inflows Amundi €88bn x1.6 vs 2024 Purchase of the minority interests Launch of partnership in the United States Partnership and shareholdings in private assets Long-term partnership in Belgium Partnerships and shareholdings Strengthened participation in Italy 50% shareholding in GAC Leasing in ChinaTotal ROI ~21% ROI 2025 ~12%
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8 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE S.A. (1) Return On Investment (ROI) calculated on the following transactions (~€8.4bn): Pioneer, Santander Securities Services, Creval, Lyxor, Sabadell AM, minority buyout of CA Friuladria, Sabadell, buyout of Natixis’ stake in Caceis, Profamily, KAS Bank, minority buyout de CA Friuladria, Banca Leonardo, KBI, Olinn, ByMyCar, Linxo, JV Abanca, Truckcare, Brilhac, minority buyout of CA Egypt, minority buyout of GNB Seguros, RBC AL (2) ROI calculated on the following transactions (~€3.2bn): RBC IS, ALD/LeasePlan in 6 countries, Degroof Petercam, Banco BPM Assicurazioni, Vera Assicurazioni et Protezione, Worklife, R3, Watèa, Hiflow, Selfee Consolidation of business lines and strengthening of expertise in France and Europe Shift for Mobility on the European scale Support for societal transitions In six European countries European activities of RBC Investor Services 30% of synergies achieved 66% of synergies achieved 2023–2024: value creation already underway on recent acquisitions < 3 years (examples) Already generating an ROI of ~10% for 2025(2) Criterion: ROI > 10% at 3Y €3.7bn invested 2021 2021 2020 2019 2019 2017 • ROI 2025 ~ 13%(1) • ROI at 3Y ~ 11%(1) €8.7bn invested2015–2022: success of past acquisitions > 3 years (examples) EXTERNAL GROWTH OPERATIONS THAT CREATE VALUE
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9 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE S.A. • Macroeconomic uncertainties in France • Impact of taxation • Net Interest Income ceiling (CA Italia, CACEIS, IWM) 2025: A YEAR ALIGNED WITH THE STRATEGIC TRAJECTORY OF THE ACT 2028 PLAN • Continuation and acceleration of strong business momentum, amplified by the launch of strategic initiatives under the ACT 2028 plan • Integration of recent acquisitions and synergies (ISB, Degroof Petercam, Thaler, Victory Capital, BNPP Monaco, Alpha Associates, Merca Leasing etc.) • Upturn in margins for French retail businesses • Mobility: recovery in Leasys’ profitability, upturn in business in China, development of insurance and services • CIB benefiting from its better positioning with customers • Banco BPM: recurring contribution to income (~+€100m per quarter) Revenues (€bn) 2024 pro forma 26.6 Cost/income ratio 2024 pro forma 27.2 2025 pro forma > 30 2028 target 2025 pro forma 2028 target CAGR +3.5% Net income Group share (€bn) 2024 pro forma 6.9 ROTE 7.3 2025 pro forma > 8.5 2028 target 2024 pro forma 2025 pro forma 2028 target 56.1% 57.4% <55% >14% 13.2% 13.9% 2026 OUTLOOK
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10 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. 2026 : OFF TO A ROLLING START Digital saving platform: on-balance-sheet saving, followed by an off-balance-sheet saving offer in 2027 Everyday banking services with essential banking products Mid Caps : LCL/CACIB initiative to serve them International developmentDevelopment in France +8m gross customers capture 2028 AMBITION No. 1 bank for young customers Crédit Agricole Group +1 million gross professional /SME customers capture 2m Customers in Germany >€40bn Savings outstandings in Europe via the platform +200 Mid-Caps strategic customers for the Group in Europe (excl. France) 2028 AMBITION 2x faster Acceleration of time-to-market <55% C/I ratio at end 2028 2028 AMBITION Tokenised Finance : first tokenised fund AI assistant for employees Data Market Place deployed Simplification : Finance function first measures (reportings, securitisation expertise center) Digitisation of journeys 100% digital Home agreement in principle Young people Launch of a disruptive solution 100% digital access banking offer For Pros: L by LCL Pro For individuals SME and Mid Cap: creation of Indosuez Corporate Advisory for shareholder executive officers Illustrations Europe : illustrations in Germany Illustrations Innovation and performance Illustration in Asia CACEIS : branch opening in Singapour
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11 CREDIT UPDATE Q4-25 & FULL YEAR 2025 Credit Story
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12 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP CREDIT STORY CRÉDIT AGRICOLE GROUP KEY FIGURES 54 #1 Insurer in France #1 European asset manager #1 retail bank in the European Union based on number of customers 9th largest global bank by balance sheet size Rankings and key figures 12.3 million mutual shareholders #1 cooperative mutual bank in the world 8,200# 1#1 provider of financing to the French economy 46 countries Including 6,660 in France (Regional Banks and LCL)
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13 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP A LISTED MUTUALIST UNIVERSAL BANK CREDIT STORY As of end of December 2025 CRÉDIT AGRICOLE GROUP ASSET GATHERING AND INSURANCE RETAIL BANKING ITALY POLAND, UKRAINE, EGYPT SPECIALISED FINANCIAL SERVICES LARGE CUSTOMERS SPECIALISED ACTIVITIES AND SUBSIDIARIES 39 Regional Banks Jointly holding the majority of Crédit Agricole S.A.’s share capital through SAS Rue La Boétie 63.5% REGIONAL BANK Holding 36.5% PUBLIC Listed Company Central Body and member of CA network HoldCo of Group subs
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14 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP CREDIT STORY A BALANCED AND DIVERSIFIED MODEL, RESILIENT TO CHANGES IN THE ECONOMIC ENVIRONMENT (1) Stated revenues of Crédit Agricole Group from FY 2017 to FY 2025 (2) Incl. fee and commission income on payment instruments (3) Excl. Corporate Centre Steady increase of revenues(1) since 2017 (in €m) Balanced and growing revenues in all business lines(3) Solid footprint in Europe, growing stronger outside of France 73% 8% 11% 3% 2% 1% 62% 14% 15% 5% 3% 1% France Italy Rest of Europe Americas Asia Africa & Middle East FY 2017 FY 2024 59% 16% 16% 8% 52% 19% 21% 9% Retail Banking (2) Asset Gathering Large Customers Specialised Financial Services FY 2017 FY 2024 Implementation of IFRS 17 on 01/01/2023 (€-3bn impact on FY 2023 revenues) 32,108 39,558 FY 2017FY 2018FY 2019FY 2020FY 2021FY 2022FY 2023FY 2024FY 2025 +2.6% CAGR
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15 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. SHOCK-ABSORPTION CAPACITY SUPPORTED BY A HIGH LEVEL OF RESERVES Prudent cost of risk assumptions Crédit Agricole S.A.Crédit Agricole Group ~40 ~40 MTP 2025 Assumptions 27 34 ~25 ~25 2024 MTP 2028 Assumptions 1. European G-SIBs (Global Systemically Important Bank) S1 + S2 loan loss reserves / cost of risk assumptions (in years) 3.0 2.7 2.3 1.9 1.7 1.7 1.6 1.5 1.4 1.3 1.2 1.0 1.0 0.9 0.9 0.8 0.6 CAG* Peer 1 Peer 2* Peer 3 Peer 4 Peer 5 CASA Peer 6* Peer 7 Peer 8* Peer 9* Peer 10*Peer 11*Peer 12*Peer 13* Peer 14 Peer 15* 3.0 1.6 Crédit Agricole Group Crédit Agricole S.A. FY 2024 data Cost of risk on outstandings (in bp) CREDIT STORY
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16 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP CREDIT STORY EFFICIENT AND FLEXIBLE GROUP STRUCTURE, OPTIMIZED CASA TARGET Crédit Agricole Group 11.8% MTP Target ~11% Crédit Agricole S.A. 17.4% MTP target ≥ 17% Crédit Agricole Group Phased-in CET1 Phased-in CET1Crédit Agricole S.A. • Mutualist Regional banks • Close to 75% retained earnings • Structurally very low cost of capital Capital protection • Group support: fluid capital circulation, solidarity mechanism between the CA network • Strength recognised by rating agencies Optimised financial structure As of 31 December 2025
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17 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP Credit Ratings (1) as of January 2026 Moody’s S&P Fitch Senior Preferred Senior non-Preferred Additional Tier 1 Tier 2 A1 A3 Baa3 Baa1 A+ A- BBB- BBB+ AA- A+ BBB A- Outlook Stable Stable Stable LT issuer rating A1 A+ A+ RATINGS BY DEBT CATEGORY CREDIT STORY FRANCE Aa3 A+ A+ Negative Stable Stable ST debt Issuer / ST senior preferred debt P-1 A-1 F1/F1+ (1) The ratings reflect the analysis of Crédit Agricole Group
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18 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP CREDIT STORY A WELL-DIVERSIFIED BUSINESS MODEL AND SOUND FINANCIAL MANAGEMENT(2) • “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, and asset management.” • “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 “to not be sensitive to a potential future adoption of full depositor preference in Europe” • “A very diverse business model leveraging its leading franchises, • a low risk appetite, sound asset quality, • Stable profitability and strong capitalisation and funding.” • A further downgrade of France’s sovereign rating to ‘A’ from ‘A+’ would result in a downgrade of CA’s ratings, because the group’s Long-Term IDRs and Viability Rating (VR) are capped by the sovereign rating (1) Issuer credit rating / Long Term Senior Preferred rating (2) The ratings reflect the analysis of Crédit Agricole Group A+/AA- stable (1) A+ stable (1) A1 stable (1) As of 21/10/2025 As of 18/11/2025 As of 04/12/2025
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19 CREDIT UPDATE Q4-25 & FULL YEAR 2025 ESG Ambitions
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20 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP CONTINUED SUPPORT OF TRANSITION ESG AMBITIONS A transition plan based on three complementary and well-structured priorities: 1. Exposures related to low-carbon energy made up of renewable energy produced by the customers of all Crédit Agricole Group entities, including nuclear energy-related exposures for Crédit Agricole CIB. 2. Outstanding financing of Crédit Agricole Group, directly or through the EIB, according to the Group’s internal sustainable assets framework. 3. Reference year: 2020 – Scope of Power sector: Crédit Agricole CIB and Unifergie (Crédit Agricole Transitions & Énergies). Accelerating the development of renewable and low-carbon energy by focusing our financings on renewable and low-carbon energy projects 1 As a universal bank, supporting energy transition for all: the equipment of all corporates and households 2 Driving our exit path from the financing of carbon-based energy 3 Financing the environmental transition (2) €116.5bn At 30/09/2025 o/w Real estate €84.9bn Transport €7.2bn Oil & gas -81% Financed emissions At 31/12/2025 2030 target -75% (3) Power -44% Intensity of financed emissions At 31/12/2025 2030 target -58% (3) Automotive -24% Intensity of financed emissions At 31/12/2025 2030 target -50% (3) Installed renewable energy capacity (CAA) 16.2 GW At 30/09/2025 2025 target 14GW Low-carbon energy(1) financing €28.6bn At 30/09/2025 X 2.6 Sept. 25/Dec. 20
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21 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE S.A. NON-FINANCIAL RATINGS ESG AMBITIONS 1. ESG risk score on a reverse scale (100-0): the lower the score, the better the ESG risk 2. C+ is the best ESG rating assigned by ISS ESG in its Commercial Banks & Capital Markets sector. D+ A 1 CCC AAA AA "Leader" Severe risk (100) Negligible risk (0) 17.7 Low risk D- C+ … 2 C+ "Prime" A "Leadership" Climate: Crédit Agricole S.A. rated A by CDP, 2 notches above sector average
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22 CREDIT UPDATE Q4-25 & FULL YEAR 2025 Crédit Agricole Group Q4-25 Highlights
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23 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP (1) Car, home, health, legal, all mobile phones or personal accident insurance (2) Net acquisition: +264K CRÉDIT AGRICOLE GROUP Q4-25 HIGHLIGHTS SUSTAINED ACTIVITY IN ALL BUSINESS LINES • Retail Banking in France: corporate loan production remains buoyant (+14% Q4/Q4 and +16% 2025/2024); continued upturn in home loan production (+9% Q4/Q4 and +21% 2025/2024, production rate of 3%) • International: sustained lending activity • Insurance: record annual premium income (€52.4bn) and net inflows (+€15.9bn); high Q4 premium income (€13.1bn) driven by all activities and continued high net inflows in life insurance • Asset Management: high net inflows for the year (+€88bn) and Q4 (+€21bn); record assets under management • CAPFM: production remains high (+3.1% Q4/Q4 to €12bn), balanced between personal finance and mobility • CIB: record Q4 and year, driven by growth across all business lines France (RB + LCL): 832 (+1.7%) Italy: 63 (+1%) Total: 895 (+1.6%) Loans outstanding retail banking (€bn) Asset management: 2,380 (+6.2%) Life insurance: 373 (+7.4%) Wealth Management: 298 (+6.8%) Total: 3,051 (+6.4%) Assets under management (€bn) Total: 122.5 (+2.6%) Consumer finance outstandings (€bn) #1 Syndicated loans in France #2 Syndicated loans in EMEA #1 EUR Green, Social & Sustainable bonds #4 All bonds in EUR worldwide Sources: Refinitiv/Bloomberg in EUR Change Dec. 25/Dec. 24 Property and casualty insurance equipment rate(1) 44.7% (+0.8pp) Regional Banks 28.5% (+0.6pp) LCL 20.3% (+0.3pp) CA Italia France (RB + LCL): 781 (+1.3%) Italy: 66 (+0.7%) Total: 847 (+1.2%) On-balance sheet deposits in retail banking (€bn) +517,000 (Q4-25) 2,100,000 (2025) (2) New customers
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24 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP 9,817 9,971 (7) (543) +590 +70 +44 Q4-24 Retail Banking Asset gathering Large Customers SFS Corporate centre Q4-25 +1.6% +€155m Retail Banking (Regional Banks, LCL & IRB-International retail banking), Asset gathering (insurance, asset management and wealth management), SFS: Specialised financial services HIGH REVENUES CRÉDIT AGRICOLE GROUP Q4-25 HIGHLIGHTS Q4/Q4 change in revenues (€m) Retail Banking: Regional Banks and LCL enjoyed an upturn in NII fuelled by the decrease in the cost of resources and gradual repricing of loan stock (NII +18.7% for RB and LCL +11.2% Q4/Q4). Fee and commission income driven by insurance continued to be dynamic. CA Italia fuelled by good fee and commission income offset the decrease in NII Q4/Q4 (but stable over the quarter). Asset Gathering: insurance revenues +3,1% on a like-for- like basis(1), particularly thanks to lower claims (climate and death & disability). Asset management revenues: +9.2% Q4/Q4 excluding deconsolidation of Amundi US; Indosuez Wealth Management: boosted by higher fee and commission income, but interest margin declined in a context of falling interest rates. Large Customers: CIB record revenues; CACEIS increase in fee and commission income (growth in assets under management over the period) and stable NIM. SFS: CAPFM positive price and volume effects Q4/Q4 on personal finance activity, offsetting the decline in revenues from mobility and insurance activities; CAL&F: driven by leasing activity and the integration of Merca Leasing Increase excluding unfavourable base effect (-€30m) Integration of Merca Leasing (+€21.5m) Personal finance: positive price and volume effects Mobility impacted by the competitive environment CIB: record Q4 CACEIS: buoyant activity Impact of Banco BPM shares valuation -€320m and increase in the dividend received +€78m IFRS17 internal margins effect Strong momentum over all business lines Scope effects: Amundi US deconsolidation -€93m Integration of Insurance entities in partnership with Banco BPM +€58m Upturn in NII in France Increase in fee and commission income in France and Italy (1) First consolidation of Abanca SG (Q3-25) and PiùVera Assicurazioni & PiùVera Protezione (Q4-25)
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25 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP (212) +182 +49 +11 +24 5,863 5,917 Q4-24 Retail Banking Asset gathering Large Customers SFS Corporate centre Q4-25 +0.9% +€54m EXPENSES: COST/INCOME RATIO UNDER CONTROL AT 59.6% (12M) CRÉDIT AGRICOLE GROUP Q4-25 HIGHLIGHTS Q4/Q4 change in expenses (€m) Retail Banking (Regional Banks, LCL & IRB-International retail banking), Asset gathering (insurance, asset management and wealth management), SFS: Specialised financial services Scope effects: -€19m (1) Restructuring expenses Amundi +€8m Acquisition and integration expenses +€19m (2) (1) Of which deconsolidation of Amundi US for -€65m, integration of Insurance entities in partnership with Banco BPM for +€43m, Banque Thaler for +€5m, and resumption of depositary activities by CACEIS (-€2m) (2) Of which +€13m on Amundi (ICG) and +€6m Wealth Management (DP) CA Italia: restructuring charges +€65m Merca Leasing scope effect +€8m IFRS17 internal margins effect
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26 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. 489 677 845 803 876 363 47 -24 21 3416 11 18 44 99867 735 840 869 1,009 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 S3 CoR S1&S2 CoR Others Total CoR + 16.3% RB 30% RB 38% LCL 9% LCL 13%IRB 11% IRB 13% SFS 35% SFS 31% LC 11% LC 9%CC 1% CC -5% Q4-24 Q4-25 LOAN LOSS RESERVES HIGH AND AMONG THE BEST COVERAGE RATIOS IN EUROPE CRÉDIT AGRICOLE GROUP Q4-25 HIGHLIGHTS Crédit Agricole Group cost of risk (€m) Cost of risk/outstandings(1) (bp) Cost of risk/outstandings NPL ratio Loan loss reserves Coverage ratio 28bps(1) 33bps(2) CRÉDIT AGRICOLE GROUP 2.2% Stable vs Q3-25 82.2% -0.9pp vs Q3 €22.2bn (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. RB: Regional Banks; IRB: International retail banking; SFS: Specialised financial services; LC: Large customers; CC: Corporate centre Cost of risk/outstandings NPL ratio Loan loss reserves Coverage ratio 35bps(1) 45bps(2) CRÉDIT AGRICOLE S.A. 2.4% +0.1pp vs Q3-25 71.5% -1.2pp vs Q3 €9.6bn Q4-25 Cost of risk by business line Q4-24 €867m €1,009m Crédit Agricole Group Crédit Agricole S.A. 27 27 27 27 28 34 34 34 35 35 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 o/w Banca Progetto (€30m) and UK car loans (€41m) S1/S2 model revision
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27 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. CAPFM CA Italia CAL&F LCL Regional Banks Financing activities 22 20 20 21 24 40 39 36 38 44 7 8 6 7 6 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 20 21 21 21 22 127 130 135 142 141 24 25 21 22 24 COST OF RISK BY BUSINESS LINE 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. Cost of risk/outstandings(1) (bp) CRÉDIT AGRICOLE GROUP Q4-25 HIGHLIGHTS CAPFM: stable, including €41m in additions to provisions for legal risk (UK car loans, total net provision: €82m at end-Dec. 25) CA Italia: stable at 39 bp excluding Banca Progetto provision (€30m); asset quality and coverage ratios stable and at a good level CAL&F: up this quarter, due to a few factoring cases in Spain and the impact of the integration of Merca Leasing Retail Banking in France: under control despite an increase in corporate defaults, particularly in the retail/distribution sector Financing activities: still low, consisting mainly of S1/S2 provisions this quarter (rating effect) Additions to provisions of €50m (model revision) with €30m in additions to legal provisions (including UK car loans)
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28 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP 8,640 8,754 (839) (261) (706) (130) +1,497 +552 2024 Revenues Operating expenses Cost of risk Equity accounted Tax Other 2025 (151) (728) +133 +104 +127 2,149 1,634 Q4-24 Retail Banking Asset gathering Large Customers SFS Corporate centre Q4-25 by P&L line QUARTERLY RESULTS IMPACTED BY THE FIRST CONSOLIDATION OF BANCO BPM Q4/Q4 change in net income Group share (€m) by division CRÉDIT AGRICOLE GROUP Q4-25 HIGHLIGHTS Retail Banking (Regional Banks, LCL & IRB-International retail banking), Asset gathering (insurance, asset management and wealth management), SFS: Specialised financial services Change in net income Group share by P&L line (€m) -23.9% -€515m Impact of first consolidation of Banco BPM -€607m Gross operating income +4.3% +€658m Leasys: revision of remarketing values for used vehicles GAC Sofinco: decline in business in China in previous quarters Impact of first consolidation of Banco BPM -€607m Capital gain on deconsolidation of Amundi US +€304m +1.3% €114m
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29 CREDIT UPDATE Q4-25 & FULL YEAR 2025 Capital, Liquidity & Funding
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30 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. CAPITAL AND LIQUIDITY: A MONITORED AND PRUDENT MANAGEMENT FRAMEWORK CAPITAL, LIQUIDITY & FUNDING 1. Excluding senior preferred debt 2. Tier 2 capital + amortised portion of Tier 2 instruments with remaining maturity > 1 year + SNP with remaining maturity > 1 year ~11% ~1.8% Crédit Agricole SA AT1 CET1 TLAC1 ~27% ≥ 17% CA Group T2 + SNP AT1 CET1 2 Capital protection • Structurally low cost of capital in line with the mutualist structure • Close to 75% of retained earnings Optimised financial structure • Group support: demonstrated fluid capital circulation, solidarity mechanism between the CA network members • Strength recognised by rating agencies Prudent liquidity management • Stable, granular and diversified customer deposits complemented by a well- diversified medium and long-term market funding • High level of liquidity reserves ~11% ≥ 17% throughout the trajectory Liquidity Capital LCR NSFR 110-130% 110-120% Crédit Agricole Group Crédit Agricole S.A.Crédit Agricole Group
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31 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP -9bp -37bp +26bp +7bp 17.6% 17.4% Sept. 25 Retained result Business lines organic growth Active management of the BS Methodo effect / M&A / Other Dec. 25 STRONG CAPITAL POSITION CAPITAL, LIQUIDITY & FUNDING RB: Retail Banking (Regional Banks, LCL & International retail banking); AG: Asset gathering (insurance, asset management and wealth management); SFS: Specialised financial services; LC: Large customers; CC: Corporate centre Change in phased-in CET1 ratio (bp) Change in RWA by business line (€bn) PHASED-IN CET1 17.4% -0.2pp vs Q3-25 +7.6pp vs SREP requirement 562 568 84 83 13 12-1.0 -0.4 -0.6 -1.2 +7.5658 663 Sept. 25 Retail Banking AG SFS LC CC Dec. 25 Credit risk Operational risk Market risk 0.7% +€5bn Models revision CA Italia/LCL/RB: -29bp BBPM 1st consolidation: -2bp SRT: +7bp Banco BPM: -€1.1bn (threshold not exceeded) Model effect: CA Italia +€5.6bn
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32 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE S.A. Models revision CA Italia/LCL: -19bp BBPM 1st consolidation: +9bp SBB: -9bp -6bp -12bp +22bp +8bp 11.7% 11.8% Sept. 25 Retained result Business lines organic growth Active management of the BS Methodo effect / M&A / Other Dec. 25 GOOD LEVEL OF SOLVENCY CAPITAL, LIQUIDITY & FUNDING Change in phased-in CET1 ratio (bp) RB: Retail Banking (LCL & International retail banking); AG: Asset gathering (insurance, asset management and wealth management); SFS: Specialised financial services; LC: Large customers; CC: Corporate centre Change in RWA by business line (€bn) PHASED-IN CET1 11.8% +0.1pp vs Q3-25 +3.0pp vs SREP requirement (1) Including results for the quarter, net of AT1 coupons and the interim dividend based on a payout ratio of 50% (2) Annual net income Group share adjusted for AT1 coupons (€556m), net impacts of the capital gain on Amundi US (€304m) and of the first consolidation of BBPM (-€607m) 346 352 56 55 12 12-1.1 -0.8 -0.6 +6.2 +1.9414 419 Sept. 25 RB AG SFS LC CC Dec. 25 Credit risk Operational risk Market risk +1.4% +€5bn Model effect: CA Italia +€5.6bn Banco BPM: neutral impact related to exceeding of threshold Payout: €0.20 2025 payout ratio: 50% (2) SRT: +7bp (1)
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33 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. BUFFERS ABOVE DISTRIBUTION RESTRICTIONS THRESHOLD CAPITAL, LIQUIDITY & FUNDING 31/12/25 Phased-in solvency ratios Distance to 31/12/25 SREP requirements Crédit Agricole Group Crédit Agricole S.A.(2) 756bp 17.4% CET1 693bp 18.7% Tier 1 696bp 21.1% Total Capital 301bp 11.8% CET1 309bp 13.6% Tier 1 433bp 17.3% Total Capital €46bn €13bnDistance to MDA restrictions(1) (1) According to CRD5, institutions must meet the combined buffer requirement (consisting of the capital conservation buffer, countercyclical buffer and systemic buffer). Failure to do so means the bank must calculate the Maximum Distributable Amount (MDA). The lowest of the distances between the actual ratios and the corresponding regulatory requirements is the distance to the Maximum Distributable Amount (MDA) trigger threshold. From 1/1/2023, G- SIIs shall also maintain, in addition to the leverage Pillar 1 minimum requirement, a leverage ratio buffer requirement equal to 50% of the G-SII buffer rate. The leverage ratio buffer requirement shall be met with Tier 1 capital only. When a G-SII does not meet the leverage ratio buffer requirement, it shall calculate the Leverage Maximum Distributable Amount (L-MDA). Only Crédit Agricole Group is a G-SII. Crédit Agricole S.A. is not subject to these requirements. The distance to L-MDA trigger threshold equals the distance to CAG overall leverage ratio requirement. The lowest between the MDA and L-MDA thresholds determines the distance to distribution restriction. (2) Distributable items at end December 2025 for CASA (individual accounts) amount to €45.5bn (including reserves of €32.4bn and share issue premium of €13.1bn). (3) Credit Agricole Group has been notified by the ACPR of an increase of the additional capital requirement (“GSIB buffer”) from 1% to 1.5% of total risk weighted assets as of 1st January 2026. 5.6% Leverage ratio €46bn 208bp €50bn €46bn €13bn €18bn (3) Distance to 01/01/26 SREP requirements706bp 643bp 647bp 183bp Requirements at 01/01/26 (3) (3)
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34 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. CAPITAL, LIQUIDITY & FUNDING CAPITAL PLANNING TARGETING HIGH SOLVENCY LEVERAGE RATIOS (1) Countercyclical buffer at 78bp at end-December 2025 for CA Group and 67bp for CASA. Systemic risk buffer at 10bp at end-December for CA Group and 15bp for CASA. (2) Credit Agricole Group has been notified by the ACPR of an increase of the additional capital requirement (“GSIB buffer”) from 1% to 1.5% of total risk weighted assets as of 1st January 2026. (3) According to CRD5, from 1/1/2023, G-SIIs shall maintain, in addition to the leverage Pillar 1 minimum requirement, a leverage ratio buffer requirement equal to 50% of the G-SII buffer rate. The leverage ratio buffer requirement shall be met with Tier 1 capital only. Only Crédit Agricole Group is a G-SII. Crédit Agricole S.A. is not subject to these requirements. (4) Leverage exposure of €2,214 bn for CA Group and €1,463 bn for CASA at 31/12/25. • Solvency ratios well above SREP requirements(1)(2) : CET1 buffer of 7.6pp for CA Group and 3.0pp for CASA at 31/12/25 • Leverage ratio above SREP requirements(2)(3) : buffer of 2.1pp for CA Group (representing c. €46 bn(4)) and 0.9pp for CASA (representing c. €13 bn(4)) at 31/12/25
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35 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP TLAC AND MREL WELL ABOVE MINIMUM REQUIREMENTS, THE DISTANCE TO THE TLAC REQUIREMENT IS THE TIGHTEST BUFFER CAPITAL, LIQUIDITY & FUNDING (1) Credit Agricole Group shall meet at all times the following TLAC requirements: 18% of risk-weighted assets, with a combined buffer requirement (CBR) stacking on top of that level according to CRD5 (including a 2.5% capital conservation buffer, a 1% G-SIB buffer, a countercyclical capital buffer and a systemic risk buffer); and 6.75% of leverage risk exposure (LRE). (2) As part of its annual resolvability assessment, CAG has chosen to continue waiving the possibility offered by Article 72b(3) of the Capital Requirements Regulation to use senior preferred debt for compliance with its TLAC requirement in 2025 (3) Credit Agricole Group has been notified by the ACPR of an increase of the additional capital requirement (“GSIB buffer”) from 1% to 1.5% of total risk weighted assets as of 1st January 2026. (4) Total and subordinated MREL requirements are decisions notified by Resolution Authorities and will be revised periodically. At 31/12/25, the total MREL requirements are set at 21.79% RWA (plus the CBR) and 6.25% LRE; the subordinated MREL requirements are set at 17.19% RWA (plus the CBR) and 6.25% LRE. 4.8 pp* (representing c. €32bn) 1.4 pp (representing c. €31bn) 5.6pp (representing c. €37bn) 1.9 pp (representing c. €42bn) * Distance to M-MDA 3.4 pp (representing c. €74bn) 5.9 pp (representing c. €39bn) • TLAC (1)(2)(3) is the ratio among risk-based resolution requirements that stands closest to its regulatory minimum levels applicable at 31/12/25. TLAC ratio stands nevertheless well above requirement, respectively by 4.8pp RWA and 1.4pp leverage exposure at end-December 2025. • Subordinated MREL above requirements(3)(4) : 27.2% RWA and 8.1% LRE. • Total MREL above requirements(3)(4) as well. Distance above TLAC requirements Distance above Subordinated MREL requirements Distance above Total MREL requirements
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36 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. STRONG LIQUIDITY POSITION CAPITAL, LIQUIDITY & FUNDING Stable, diversified and granular customer deposits • Stabilisation of the breakdown in deposits • 37m retail banking customers, of which 28m individual customers in France • ~60%(6) of guaranteed deposits in retail banking in France Liquidity reserves (€bn) Customer deposits (€bn) (1) Receivables eligible for central bank refinancing providing access to LCR compliant resources (2) Available securities, at market value after haircut (3) Of which €1bn eligible in Central Bank (4) Excluding cash (€4bn) & mandatory reserves (€11bn) (5) i.e. a surplus of €83bn for CASA and €85bn for CAG (6) Customers (individuals, professionals, corporates) LCL and Regional Banks CASA LCR (avg. 12M) NSFR 141%(5) 114% CAG 136%(5) 120% 31/12/2025 by nature by type of customers 159 153 154 158 39 46 136 128 488 485 30/09/2025 31/12/2025 Central bank deposits (4) HQLA (High Quality Liquid Assets) securities portfolio (2) Other non-HQLA securities (2) (3) Eligible collateral already pledged to Central Banks and unencumbered (1) 52% 31% 17% Sight deposits Time deposits (incl. PEL) Regulated passbooks (Livret A, LEP, LDD) €1,180bn 64% 23% 11% 2% Individuals/SMEs - including 100% of regulated passbooks Corporates Financial institutions Sovereign, Public sector €1,180bn +2% vs. Sept 25 30/09/2025
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37 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP Banking cash balance sheet at 31/12/23 (€bn) STRONG LIQUIDITY BALANCE SHEET CAPITAL, LIQUIDITY & FUNDING Liquidity balance sheet at 31/12/25 (€bn) At €194bn in December 25, the Stable Resources Position surpluses remain stable over the quarter This KPI reflects the surplus of MLT resources required to ensure a secured NSFR path above regulatory requirements. Liquidity reserves (without Cash and mandatory reserves) cover more than twice the net ST Debt (i.e. ST Debt net of Treasury assets).1,195 1,206 150 159 205 213 1 1 159 153 91 93 1,144 1,124 324 322 173 171 1,710 1,732 1,732 1,710 30/09/2025 31/12/2025 31/12/2025 30/09/2025 Treasury assets Central bank deposits (without cash and mandatory reserves) Securities portfolio Customer-related trading assets ASSETS LIABILITIES ST debt Net working capital Surplus: €194bn (1) Including Senior Preferred bonds issued by Group entities through its retail network (2) Including CDC Centralisation €113bn in Q4 25 and €111bn in Q3 25 and excluding some deposits from asset servicing in coherence with the internal management
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38 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP MLT market funds outstanding at 31/12/23 (€bn) BREAKDOWN OF LONG-TERM DEBT OUTSTANDING CAPITAL, LIQUIDITY & FUNDING Long term debt outstanding at 31/12/25 (€bn) (2) At end-December 2025, increase of +€2bn in long term debt vs. end-September 25, mainly on Senior issuances.
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39 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE S.A. 97% 36% 31% 22% 4% 56% 9% 26%30% 11% 21% 3% 8%8% 3% 1% 8%16% €5.7bn €2.8bn €11.2bn €3.4bn Senior secured Senior preferred Senior non-preferred Tier 2 CAD HKD CHF SGD JPY AUD GBP USD EUR (1) Gross amount before buy-backs and amortisations (2) AT1 issuances are excluded from the funding plan (3) Weighted average tenor and reoffer spread versus 3 months Euribor CAPITAL, LIQUIDITY & FUNDING 6.3 years 53 bp(3) 2025 MLT market funding 5.6 years 82 bp 5.1 years 173 bp 6.3 years 120 bp €14.6bn€8.5bn 2026 FUNDING TARGET LOWER THAN 2025 AND WEIGHTED TOWARD SNP & TIER 2 Annual MLT market funding €18bn of MLT market funding issuances of which: • €6bn in Senior secured & Senior preferred • €12bn in Senior non-preferred & Tier 2 2026 Funding Plan €23.1bn(1)(2) of MLT market funding issued by Crédit Agricole S.A. in 2025 in diversified funding with various formats and currencies. €5.7bn, 32% €18bn Completion to target as of 31/01/2026(1)(2) 1.0 0.75 0.8 6.0 7.5 5.8 4.9 0.8 8.1 12.2 7.2 2.8 0.7 5.6 4.8 7.3 11.2 3.3 0.3 1.7 3.1 3.4 1.0 €21.1bn €26.2bn €24.1bn €23.1bn €5.7bn 2022 2023 2024 2025 2026 YTD Tier 2 Senior non-preferred Senior preferred Senior secured (Covered Bonds) Senior secured (RMBS) €18bn
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40 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP CAPITAL, LIQUIDITY & FUNDING €30.9BN(1) ISSUED IN MLT PRIMARY MARKET BY CRÉDIT AGRICOLE GROUP ENTITIES IN 2025 (1) Gross amount before buy-backs and amortisations (2) Italian Auto Loans ABS originated by CA Auto Bank (3) Italian Consumer Loans ABS originated by Agos (61% owned by CAPFM) Secured funding Unsecured funding Covered bond Securitisations Senior preferred Senior non-preferred & Tier 2 AT1 / RT1 Crédit Agricole S.A. funding plan Crédit Agricole S.A. €2.8bn in EUR, USD, JPY, AUD and CHF €14.6bn in EUR, USD, GBP, JPY, AUD, SGD, HKD, CHF, CAD €2.6bn 2 tranches in EUR and USD CA HL SFH €3.7bn 4 tranches in EUR and CHF CA PS SCF €1.25bn 2 tranches in EUR FCT CA Habitat (RMBS) €800m 1 tranche in EUR CA Assurances €750m 1 tranche in EUR CA Auto Bank €0.9bn via A-BEST 24(2) €1bn 2 tranches in EUR ABS vehicles €1.4bn via Sunrise 2025-1&2(3) CA Italia €1bn 1 tranche in EUR CA next bank CHF200m 2 tranches in CHF 2026 target €1bn 2026 target €1.5bn
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41 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE S.A. MLT MARKET FUNDING – FOCUS ON AT1 ISSUANCES CAPITAL, LIQUIDITY & FUNDING €13bn (301bp) CET1 buffer to MDA trigger at Crédit Agricole S.A. level as at 31/12/2025 €69bn CET1 buffer to Crédit Agricole Group 7% write-down trigger as at 31/12/2025 0 500 1,000 1,500 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 EUR GBP USD Next reset date schedule(3) 6m par call Issue date Nominal Coupon Next call date Next reset date Reset spread Called in 2025 Called on Apr-14 £103m 7.500% Jun-25(1) (regulatory call) Jan-16 $458m(2) 8.125% Dec-25 Outstanding as at 31/12/2025 ▼ Jun-21 £87m(2) 7.500% Jun-26 Jun-26 SONIA MS 5Y + 481bp Oct-20 €750m 4.000% Dec-27 Jun-28 €MS 5Y + 437bp Jan-23 €1,250m 7.250% Sep-28 Mar-29 €MS 5Y + 444bp Jan-22 $1,250m 4.750% Mar-29 Sep-29 $CMT 5Y + 324bp Jan-24 €1,250m 6.500% Sep-29 Mar-30 €MS 5Y + 421bp Oct-24 $1,250m 6.700% Sep-34 Sep-34 SOFR MS 5Y + 360bp Feb-25 €1,500m 5.875% Mar-35 Mar-35 €MS 5Y + 364bp Sep-25 $1,250m 7.125% Sep-35 Sep-35 SOFR MS 5Y + 358bp (1) Ineligible, grandfathered until Jun-25 (2) Reduced outstanding following the tender offer conducted early September alongside the new AT1 $ issuance (3) Amount outstanding as of 31/12/2025 (in €m eq.) Distance to MDA ~11% target
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42 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP SUSTAINABILITY AT THE HEART OF CREDIT AGRICOLE GROUP’S FUNDING POLICY CAPITAL, LIQUIDITY & FUNDING €30bn of ESG bonds outstanding across Crédit Agricole Group as of 31 December 2025, incl. €11.6bn of new issuances in 2025 More details on the Frameworks and last reports available here: Debt and rating | Crédit Agricole (credit-agricole.com) * Including Green Notes issued in Taiwan and Blue Bonds ** Final allocations may change and will be published through the Green Bond Report 2025. *** This allocation will be published through the Social Bond Report 2025 in February 2026. This 2025 report is the last to fall under the 2020 Social Bond Framework. Crédit Agricole S.A. Green Bonds proceeds expected allocation for 2025** 49% Green Buildings 36% Renewable Energies 8% Clean Transportation 7% Energy Efficiency €18.8bn of Green Bonds (incl. €7.3bn of new issuances in 2025) Allocation across 4 sectors €6.5bn Green Bonds Crédit Agricole S.A. €5.5bn Green Notes* and Green Deposits Crédit Agricole CIB €4.75bn Green Covered Bonds CA HL SFH €1bn Green Covered Bonds CA Italia CHF0.6bn Green Covered Bonds CA next bank Crédit Agricole S.A. Social Bonds proceeds expected allocation for 2025*** 47% Territorial economic development (SMEs located in vulnerable areas) 12% Socioeconomic advancement and empowerment (Associations promoting sport, culture and solidarity, Social housing and Home ownership) 41% Access to healthcare services (Public hospitals, public medicalized facilities for elderly people, SMEs in the healthcare sector) €0.5bn Green Bonds CA Autobank €10.9bn of Social Bonds (incl. €4.3bn of new issuances in 2025) Allocation across 3 sectors €7.2bn Social Bonds Crédit Agricole S.A. €0.2bn Social Notes and Social Deposits Crédit Agricole CIB €3.5bn Social Covered Bonds CA HL SFH
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43 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP • An amount equal to the proceeds of each CA Social Financing will be used to finance / re-finance, in whole or in part, loans or investment financing Eligible Assets • The eligible Project Categories are • Territorial economic development • Socioeconomic advancement and empowerment • Access to affordable housing • Access to healthcare • Access to education • Access to essential services and affordable basic infrastructures • Inclusion of new Use of Proceeds categories, sub-category and assets and new set of criteria. For example: financing of SMEs in in FRR (“France Ruralités Revitalisation”) and in QPV (“Quartier Prioritaire de la Ville”) or financing of utilities and public transports in France and Italy • In line with Crédit Agricole ambitious social and societal strategy, dedicated reinforced ESG risks analysis and mitigation processes are continuously improved (Due Diligence process, Committees, Sector Policies, etc.) • An updated exclusion list of activities is disclosed in the Framework • All Eligible Assets financed under this new framework comply with CA’s standard credit process • The Green and Social Bond Committee (“GSBC”) pursues to manage the process for Project Evaluation and Selection through active dialogue • In line with the Paris Aligned Benchmark exclusions • A portfolio approach • CA’s Finance and Treasury divisions are in charge of monitoring the allocation of the proceeds to the Eligible Assets • Eligible Social Portfolio equaling or exceeding the amount of the Social Bonds issued • No buffer anymore • Disclosure of the percentage of portfolio refinancing vs. new assets upstream of issuances • Changes in the Eligible criteria vs. the Social Bond Framework in its 2020 version and potential future changes to the Framework’s selection criteria will not affect the treatment of Eligible Assets retroactively • If a project becomes ineligible, Crédit Agricole commits to exclude it from the Social Portfolio • Publication of an allocation and impact report on an annual basis until maturity • Intends to communicate the distribution of the date of origination of the Eligible Social Assets • Crédit Agricole S.A. will request a limited assurance report on the allocation part of its Social Financing reporting by an external auditor • The annual allocation and Impact report will be made available on Crédit Agricole’s website Use of Proceeds Evaluation & Selection Management of Proceeds Reporting New/updated elements for this Framework in blue CRÉDIT AGRICOLE GROUP SOCIAL FINANCING FRAMEWORK UPDATED IN NOVEMBER 2025, ALIGNED WITH BEST MARKET PRACTICES AND THE 2025 ICMA SOCIAL BOND PRINCIPLES CAPITAL, LIQUIDITY & FUNDING The updated Social Financing Framework is available here
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44 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP 5-YEAR CDS SPREADS – TIER 2 (bp)5-YEAR CDS SPREADS – SENIOR NON-PREFERRED (bp) * Issuer ratings or senior preferred debt ratings Source: Bloomberg Moody’s S&P Global Ratings Fitch Ratings Breakdown of G-SIB LT ratings* at 19/01/2026 (by number of banks) Breakdown of G-SIB LT issuer ratings at 19/01/2026 (by number of banks) Breakdown of G-SIB LT issuer ratings at 19/01/2026 (by number of banks) 5-YEAR CDS SPREADS – SENIOR PREFERRED (bp) 5-YEAR CDS SPREADS – SENIOR PREFERRED (bp) CRÉDIT AGRICOLE S.A.’S RATINGS AND 5-YEAR CDS SPREADS REFLECTS STRONG CREDIT FUNDAMENTALS CAPITAL, LIQUIDITY & FUNDING Moody’s S&P Global Ratings Fitch Ratings 0 7 2 19 1 0 0 0 Aa1 Aa2 Aa3 A1 A2 A3 Baa1 Baa2 0 0 4 15 8 2 0 0 AA+ AA AA- A+ A A- BBB+ BBB 0 3 6 7 11 2 0 0 0 AA+ AA AA- A+ A A- BBB+ BBB BBB-
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45 CREDIT UPDATE Q4-25 & FULL YEAR 2025 Asset Quality
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46 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP Home loans 44% Corporate 33% Consumer Finance 8% Small businesses 5% Agriculture 4% Leasing 3% Private Banking 2% Other Corporate loans(2) €410bn Home loans €545bn Consumer loans €103bn Small businesses €63bn (1) Gross customer loans outstanding, financial institutions excluded • Including €55bn from distribution networks in France and €8bnfrom international distribution networks • Including €507bn from distribution networks in France and €38bnfrom international distribution networks • Mainly in France, fixed rate loans, amortizable, guaranteed by a guarantor or mortgage security • Including €181bn from Crédit Agricole CIB, €194bn from distribution networks in France, €24bn from international distribution networks, €11bn from CACEIS • Including €69bn from CAPFM (including Agos and CA Auto Bank) and €34bn from distribution networks (consolidated entities only) • Loans supporting business only, home loans excluded Agriculture €48bn (2) Of which €30bn in Regional Banks financing public entities A DIVERSIFIED LOAN PORTFOLIO, FAIRLY SECURED AND MAINLY EXPOSED TO FRANCE ASSET QUALITY Gross customer loans outstanding(1) of Crédit Agricole Group (as of 31 December 2025) Crédit Agricole Group €1,232bn(1)
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47 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP Principal amounts, excluding finance lease with customers, excluding intragroup transactions within Crédit Agricole and accrued interest. Since Q1-19, loans outstanding included in credit risk indicators are only loans to customers, before impairment. Figures from previous years for impaired loans ratios and coverage ratios have been restated according to the same methodology. Coverage ratios are calculated on the basis of outstandings, not netted for available collateral and guarantees. Impaired loans ratio CREDIT RISK SCORECARD ASSET QUALITY €m Dec. 24 March 25 June 25 Sept. 25 Dec. 25 Gross customer loans outstanding 1,210,126 1,208,120 1,212,138 1,218,838 1,231,954 of which: impaired loans 25,147 25,165 25,947 26,330 27,045 Loans loss reserves (incl. collective reserves) 21,284 21,365 21,620 21,868 22,230 of which: loans loss reserves for Stage 1 & 2 outstandings 8,973 9,090 9,103 9,080 9,145 of which: loans loss reserves for Stage 3 outstandings 12,312 12,275 12,517 12,788 13,084 Impaired loans ratio 2.1% 2.1% 2.1% 2.2% 2.2% Coverage ratio (excl. collective reserves) 49.1% 48.8% 48.2% 48.6% 48.4% Coverage ratio (incl. collective reserves) 84.9% 84.9% 83.3% 83.1% 82.2% €m Dec. 24 March 25 June 25 Sept. 25 Dec. 25 Gross customer loans outstanding 557,686 555,013 555,811 559,849 568,845 of which: impaired loans 12,935 12,602 13,012 13,014 13,441 Loans loss reserves (incl. collective reserves) 9,585 9,440 9,388 9,465 9,610 of which: loans loss reserves for Stage 1 & 2 outstandings 3,435 3,451 3,316 3,292 3,301 of which: loans loss reserves for Stage 3 outstandings 6,151 5,989 6,073 6,172 6,310 Impaired loans ratio 2.3% 2.3% 2.3% 2.3% 2.4% Coverage ratio (excl. collective reserves) 47.6% 47.5% 46.7% 47.4% 46.9% Coverage ratio (incl. collective reserves) 74.1% 74.9% 72.2% 72.7% 71.5% €m Dec. 24 March 25 June 25 Sept. 25 Dec. 25 Gross customer loans outstanding 652,353 653,020 656,226 658,896 662,958 of which: impaired loans 12,119 12,560 12,932 13,313 13,597 Loans loss reserves (incl. collective reserves) 11,696 11,923 12,228 12,400 12,611 of which: loans loss reserves for Stage 1 & 2 outstandings 5,537 5,639 5,787 5,787 5,843 of which: loans loss reserves for Stage 3 outstandings 6,159 6,283 6,442 6,613 6,768 Impaired loans ratio 1.9% 1.9% 2.0% 2.0% 2.1% Coverage ratio (excl. collective reserves) 50.8% 50.0% 49.8% 49.7% 49.8% Coverage ratio (incl. collective reserves) 96.5% 94.9% 94.6% 93.1% 92.8% Regional Banks - Evolution of credit risk outstandings Crédit Agricole S.A. - Evolution of credit risk outstandings Crédit Agricole Group - Evolution of credit risk outstandings
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48 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE S.A. RISK INDICATORS ASSET QUALITY VaR – Market risk exposures * Gains on risk factor diversification • 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 2025: €9m for Crédit Agricole S.A.
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49 CREDIT UPDATE Q4-25 & FULL YEAR 2025 Appendices
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50 CREDIT UPDATE Q4-25 & FULL YEAR 2025 Business Lines Indicators Economic Overview Group Structure Financial Statements French Housing Market
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51 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP INCOME STATEMENT – Q4-25 VS Q4-24 AND FULL YEAR 2025 VS 2024 APPENDICES €m Q4-25 Q4-24 ∆ Q4/Q4 Revenues 9,971 9,817 +1.6% Operating expenses (5,917) (5,863) +0.9% Gross operating income 4,054 3,954 +2.5% Cost of risk (1,009) (867) +16.3% Equity-accounted entities (603) 80 n.m. Net income on other assets (19) (20) (7.2%) Change in value of goodwill 0 4 (97.8%) Income before tax 2,424 3,150 (23.0%) Tax (616) (784) (21.4%) Net income from discont'd or held-for-sale ope. (0) - n.m. Net income 1,807 2,366 (23.6%) Non controlling interests (173) (217) (20.4%) Net income Group Share 1,634 2,149 (23.9%) Cost/Income ratio (%) 59.3% 59.7% -0.4 pp 2025 2024 ∆ 2025/2024 39,558 38,060 +3.9% (23,568) (22,729) +3.7% 15,990 15,332 +4.3% (3,452) (3,191) +8.2% (423) 283 n.m. 437 (39) n.m. 0 4 (97.8%) 12,552 12,388 +1.3% (3,018) (2,888) +4.5% 0 - n.m. 9,535 9,500 +0.4% (781) (860) (9.2%) 8,754 8,640 +1.3% 59.6% 59.7% -0.1 pp
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52 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. CRÉDIT AGRICOLE GROUP AND CRÉDIT AGRICOLE S.A. CONSOLIDATED BALANCE SHEETS IN €BN AT 31/12/2025 APPENDICES bn€ Assets Crédit Agricole Group Crédit Agricole S.A. Liabilities Crédit Agricole Group Crédit Agricole S.A. Cash and Central banks 168.3 164.8 Central banks 0.2 0.2 Financial assets at fair value through profit or loss 654.4 643.6 Financial liabilities at fair value through profit or loss 419.8 423.9 Hedging derivative instruments 25.1 16.4 Hedging derivative instruments 26.6 23.7 Financial assets at fair value through other comprehensive income 245.1 234.0 - - Loans and receivables due from credit institutions 153.6 570.1 Due to banks 98.0 186.0 Loans and receivables due from customers 1,209.7 559.2 Customer accounts 1,199.4 894.5 Debt securities 127.4 91.3 Debt securities in issue 293.8 285.1 Revaluation adjustment on interest rate hedged portfolios -10.4 -3.4 Revaluation adjustment on interest rate hedged portfolios -9.1 -8.4 Current and deferred tax assets 7.6 5.4 Current and deferred tax liabilities 3.2 3.9 Accruals, prepayments and sundry assets 45.2 44.5 Accruals and sundry liabilities 71.4 61.0 Non-current assets held for sale and discontinued operations 0.0 0.0 Liabilities associated with non-current assets held for sale - - Insurance contrats issued- Assets 0.0 0.0 Insurance contrats issued - Liabilities 392.1 388.4 Reinsurance contracts held - Assets 1.2 1.2 Reinsurance contracts held - Liabilities 0.1 0.1 Investments in equity affiliates 6.5 7.1 - - Investment property 11.8 9.8 Provisions 5.7 3.9 Property, plant and equipment 15.4 10.3 Subordinated debt 26.1 26.2 Intangible assets 3.8 3.4 Shareholder's equity 148.1 77.7 Goodwill 17.1 16.4 Non-controlling interests 6.5 8.2 Total assets 2,681.9 2,374.3 Total liabilities 2,681.9 2,374.3
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53 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE GROUP APPENDICES Crédit Agricole Group: solvency (in €bn) 31/12/25 31/12/24 Share capital and reserves 33.1 32.0 Consolidated reserves 109.1 103.0 Other comprehensive income (2.8) (1.8) Net income (loss) for the year 8.8 8.6 EQUITY - GROUP SHARE 148.1 141.9 (-) Expected dividend (1.7) (1.6) (-) AT1 instruments accounted as equity (8.1) (7.2) Eligible minority interests 3.8 4.2 (-) Prudential filters (1.7) (2.2) o/w: Prudent valuation (2.5) (2.7) (-) Deduction of goodwills and intangible assets (19.6) (19.1) Deferred tax assets that rely on future profitability excluding those arising from temporary differences (0.1) (0.0) Shortfall in adjustments for credit risk relative to expected losses under the internal ratings-based approach 0.0 (0.4) Amount exceeding thresholds 0.0 0.0 Insufficient coverage for non-performing exposures (Pillar 2) (1.5) (1.4) Other CET1 components (3.6) (1.9) COMMON EQUITY TIER 1 (CET1) 115.6 112.2 Additionnal Tier 1 (AT1) instruments 7.9 7.4 Other AT1 components 0.1 (0.1) TOTAL TIER 1 123.6 119.5 Tier 2 instruments 15.2 16.0 Other Tier 2 components 1.3 1.4 TOTAL CAPITAL 140.1 136.9 RWAs 662.7 653.4 CET1 ratio 17.4% 17.2% Tier 1 ratio 18.7% 18.3% Total capital ratio 21.1% 20.9% Phased-in
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54 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE S.A. APPENDICES CRÉDIT AGRICOLE S.A. Crédit Agricole S.A.: solvency (in €bn) 31/12/25 31/12/24 Share capital and reserves 31.8 30.9 Consolidated reserves 41.7 38.7 Other comprehensive income (3.0) (2.0) Net income (loss) for the year 7.1 7.1 EQUITY - GROUP SHARE 77.7 74.7 (-) Expected dividend (3.4) (3.3) (-) AT1 instruments accounted as equity (8.1) (7.2) Eligible minority interests 4.8 5.2 (-) Prudential filters (0.3) (0.9) o/w: Prudent valuation (1.0) (1.4) (-) Deduction of goodwills and intangible assets (18.9) (18.5) Deferred tax assets that rely on future profitability excluding those arising from temporary differences (0.0) (0.0) Shortfall in adjustments for credit risk relative to expected losses under the internal ratings-based approach 0.0 (0.3) Amount exceeding thresholds (0.7) 0.0 Insufficient coverage for non-performing exposures (Pillar 2) (0.0) (0.0) Other CET1 components (1.6) (1.2) COMMON EQUITY TIER 1 (CET1) 49.3 48.5 Additionnal Tier 1 (AT1) instruments 7.9 7.4 Other AT1 components (0.0) (0.2) TOTAL TIER 1 57.2 55.8 Tier 2 instruments 15.2 16.0 Other Tier 2 components 0.1 0.5 TOTAL CAPITAL 72.5 72.2 RWAs 419.2 415.2 CET1 ratio 11.8% 11.7% Tier 1 ratio 13.6% 13.4% Total capital ratio 17.3% 17.4% Phased-in
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55 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE S.A. * Taking into account a one-quarter delay compared with Banco BPM’s publication, as Banco BPM publishes after Crédit Agricole S.A. CORPORATE CENTRE Impact of consolidating the stake held in Banco BPM (price at 10/12/2025) P&L accounted for in 2025 Revenues +€834m Taxes -€19m Revaluation of securities at fair value €515m €318mDividends +€229m Net income Group share Equity-accounted entities: One-off impacts in Q4-25 -€607m Badwill effect +€995m Revaluation of net situation +€370m Reversal of fair value through P&L and OCI JV -€1,971m Equity-accounted entities Q4-25 +€21m P&L accounted for in 2023 Revenues +€211m Taxes -€8m Revaluation of securities at fair value €177m €34mDividends Equity-accounted entities: €0m P&L accounted for in 2024 Revenues +€607m Taxes -€16m Revaluation of securities at fair value €462m €144mDividends Equity-accounted entities: €0m +€203m Net income Group share +€590m Net income Group share New operational scope from 2026 Equity-accounted ~+€400m* Net income Group share per year Consolidation 20.1%
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56 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE MUTUAL GROUP: CUSTOMER-FOCUSED UNIVERSAL BANKING MODEL APPENDICES 28m(3) retail customers in France - 54m(3) customers worldwide The Local Credit Co-operatives form the foundation of the Group and hold nearly all of the share capital of Crédit Agricole’s Regional Banks, which in turn are the majority shareholders of Crédit Agricole S.A. through SAS La Boétie Local Credit Co-operatives: Private law co-operative companies owned by their members, owning 100% of the voting rights and the majority of the share capital of the Regional Banks; no branches Regional Banks(2): Private law co-operative companies and individually licensed banks, forming France’s leading retail banking network; majority owned by Local Credit Co-operatives, Sacam Mutualisation (~25% through CCI/CCA) and, for 13 of them, by retail and institutional investors through non-voting listed shares with rights on net assets SACAM Mutualisation: An entity wholly owned by the Regional Banks for the purpose of pooling part of their earnings. SAS La Boétie: The HoldCo managing, on behalf of the Regional Banks, their 63.5% equity interest in Crédit Agricole S.A. Crédit Agricole S.A.: A listed company of Group subsidiaries company and the Central Body of the Crédit Agricole Network, of which it is a member according to the French Monetary and Financial Code; at the same time, the holding and functionally, the lead institution of the Crédit Agricole Group 4 business divisions (1) As of 31 December 2025 (2) The Regional Bank of Corsica, which is 99.9% controlled by Crédit Agricole S.A., is also a shareholder of SACAM Mutualisation and SAS La Boétie (3) As of 31 December 2024 2,376(1) Local Credit Co-operatives 12.3 m(1) mutual shareholders 38 Regional Banks (excl. RB of Corsica)(2) Public (of which 6.6% employees and treasury shares 0.01%) Sacam Mutualisation Crédit Agricole S.A. Listed Company Central Body and member of CA network HoldCo of Group subs 100% ~25% (through CCI/CCA) 63.5%(1) via holding company (SAS La Boétie) 36.5%(1) Asset gathering Retail banking Specialised financial services Large customers ITALY POLAND, UKRAINE, EGYPT
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57 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP Crédit Agricole S.A. Regional Banks CACIB Joint & Several Guarantee Fin. & Monetary Code Fin. & Monetary Code Reciprocal binding commitments between the Regional Banks and Crédit Agricole S.A. Through a joint and several guarantee issued in 1988, the Regional Banks guarantee all of the obligations of Crédit Agricole S.A. to third parties and they also cross-guarantee each other, should Crédit Agricole S.A. become insolvent and after the liquidation and dissolution of Crédit Agricole S.A. The potential liability of the Regional Banks under this guarantee is equal to the aggregate of their share capital, reserves and retained earnings, i.e. €93.4bn* as of December 2025. Crédit Agricole S.A. obligations under the Financial & Monetary Code * Aggregate figures from French GAAP, audited individual accounts of the 39 Regional Banks [1] Articles L. 613-48 and L. 613-48-3 of the CMF. [2] Articles L. 613-55 et L. 613-55-1 of the CMF Crédit Agricole S.A., as the Central Body and as a member of the Crédit Agricole Network Acts as Central Bank to the Crédit Agricole Regional Banks in terms of refinancing, supervision and reporting to the Supervisory Authority Reviews and monitors the credit and the financial risks of its affiliated members - essentially the Regional Banks and CACIB. Is required (cf. Article L511-31) to take all necessary measures to ensure that each and all of the Crédit Agricole Network members - essentially the Regional Banks and CACIB - (defined in Article R512-18) maintain satisfactory liquidity and solvency; this requirement, being enshrined in law, it is considered to be even stronger than a guarantee. The alignment of the issuer ratings of the Regional Banks and CACIB with those of Crédit Agricole S.A. reflects the support mechanisms within the Group In the transposition of Directive 2019/879 of 20 May 2019 “BRRD2” by Order 2020-1636 of 21 December 2020, the French Law expressly provides the specificities of resolution of a cooperative group composed of a Central Body and affiliated entities For cooperative banking groups, the ”extended single point of entry” (“extended SPE”) resolution strategy is favoured by the resolution authorities, whereby resolution tools would be applied simultaneously at the level of Crédit Agricole S.A. and the affiliated entities. In this respect, and in the event of a resolution of the Crédit Agricole Group, the scope comprising Crédit Agricole S.A. (in its capacity as the Central Body) and the affiliated entities would be considered as a whole as the extended single point of entry. Given the foregoing and the solidarity mechanisms that exist within the Network, a member of the Crédit Agricole Network cannot be put individually in resolution. With respect to the Central Body and all affiliated entities, the resolution authorities may decide to implement, in a coordinated manner, write-down or conversion measures and, where applicable, a bail-in. In such an event, write-down or conversion measures and, where applicable, bail-in would apply to all entities within the Crédit Agricole network, regardless of the entity and regardless of the source of the losses. In the event that the resolution authorities decide to put the Crédit Agricole Group in resolution, they will first write down the CET1 instruments (shares, mutual shares, CCI and CCA), additional Tier 1 and Tier 2 instruments, in order to absorb losses, and then possibly convert the additional Tier 1 and Tier 2 instruments into equity securities[1]. Then, if the resolution authorities decide to use the bail-in tool, the latter would be applied to debt instruments[2], resulting in the partial or total write-down of these instruments or their conversion into equity in order to absorb losses. The creditor hierarchy in resolution is defined by the provisions of Article L 613-55-5 of the CMF, effective as at the date of implementation of the resolution. Equity holders and creditors of the same rank or with identical rights in liquidation will then be treated equally, regardless of the group entity of which they are creditors. Investors must then be aware that there is therefore a significant risk that holders of shares, mutual shares, CCIs and CCAs and holders of debt instruments of a member of the Network will lose all or part of their investment if a resolution procedure is implemented on the Group, regardless of the entity of which they are a creditor. This resolution framework does not affect the legal internal financial solidarity mechanism enshrined in Article L. 511-31 of the French Monetary and Financial Code, which applies to the Crédit Agricole Network, as defined in Article R. 512-18 of the same Code. Crédit Agricole S.A. considers that, in practice, this mechanism should be implemented prior to any resolution procedure. INTERNAL SUPPORT MECHANISMS APPENDICES Regional Banks’ joint and several guarantee Resolution framework for the Crédit Agricole Network
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58 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP Directive 2019/879 of 20 May 2019 (“BRRD2”) was transposed into French law and is applicable since 28 December 2020 The law expressly provides resolution specificities for French cooperative banking groups • Assessment of conditions of a resolution procedure at the level of the Network The resolution authorities will treat the Central Body and its affiliated entities (“Network”) as a whole when assessing the conditions to enter in resolution • Resolution and “Coordinated bail-in” In case of a bail-in, write-down or conversion measures will apply simultaneously to all entities within the Network Equity holders and creditors of the same rank* or with identical rights in liquidation will then be treated equally, regardless of the Network entity of which they are investors and regardless of the source of the losses • Liquidation and respect of the “no-creditor-worse-off” principle A Central Body or one of its affiliated entities could be declared in compulsory liquidation only when the Central Body and all its affiliated entities are also in cessation of payments A sole liquidator will be designated for the entire cooperative group and will ensure that the holders of equity and creditors of the same rank* or with identical rights in liquidation will be treated equally, regardless of the Network entity of which they are investors and regardless of the source of the losses MREL at consolidated level, when applicable under BRRD2, will be fulfilled with eligible liabilities of Crédit Agricole SA and the affiliated entities The single point of entry resolution strategy preferred by the resolution authorities for Crédit Agricole Group can be considered as an “extended SPE” *According to the creditor hierarchy in resolution as defined by the provisions of Article L 613-55-5 of the CMF, effective as at the date of implementation of the resolution. TRANSPOSITION OF BRRD2 IN FRENCH LAW: A SPECIFIC TREATMENT FOR COOPERATIVE BANKS APPENDICES
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59 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP Non-deduction of insurance holdings according to Article 49(1) of the CRR In the case of banks within a financial conglomerate under Directive 2002/87/EC, the CRR provides for a specific prudential treatment of insurance holdings. As a general rule, Article 36(1) of the CRR envisages that significant holdings in insurance undertakings should be deducted from banks’ own funds. As an exception to this rule, Article 49(1) of the CRR grants the option to competent authorities, if requested by banks, to allow them not to deduct such holdings and to risk-weight them instead (100% to 370%), provided that a number of CRR conditions are met. These departures from Basel III were included early in the elaboration of the CRR as a package known in specialised circles as the “Danish compromise”, since it was negotiated during the Danish Presidency of the Council of the EU. ECB Regulation on the exercise of options and discretions available in Union law Crédit Agricole Group received the permission of the competent authorities (ACPR) on 18 October 2013 to use this option for entities within the Crédit Agricole Assurances scope. Since 2014 the ECB has the power to exercise the options and discretions available in Union law and it published on 24 March 2016 a Regulation and a Guide on how to harmonise options and discretions in banking supervision. The ECB Regulation and Guide do not reconsider previous decisions taken by the competent authority pursuant to Article 49(1) and related explanatory documents confirm that the ECB did not intend to do so at that time: “With regard to the non-deduction of holdings within the context of Article 49(1) of the CRR, significant credit institutions can expect the following treatment: (i) In cases where permission for non-deduction has already been granted by the national competent authority prior to 4 November 2014, the credit institutions may continue to not deduct the relevant holdings on the basis of that permission provided that appropriate disclosure requirements are met.” (Extract from the ECB Guide) “The Supervisory Board has decided to keep the status quo, i.e. decisions according to Article 49 of the CRR taken before 4 November 2014 will continue to apply for the time being. Incoming applications for new decisions will be assessed according to the CRR criteria.” (Extract from the Explanatory memorandum) On 25 July 2025, the ECB published an updated guide clarifying the harmonised approach to policy choices under EU law regarding general principles: With regard to the non-deduction of insurance holdings under Article 49(1) of CRR3 from 2025, the revised guide extends the risk-weight treatment, previously limited to CET 1 equivalent instruments only, to all insurance own funds equivalent instruments (i.e. incl. AT1 and Tier 2 instruments). However, no change to the treatment of insurance CET 1 equivalent instruments were introduced in the updated guide. Any change to the “Danish compromise” rule would suppose a new revision of the CRR. The “Danish compromise” Status quo for the “Danish compromise” in the ECB Regulation “DANISH COMPROMISE”: NON-DEDUCTION OF INSURANCE HOLDINGS APPENDICES
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60 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP Net Income Group Share by business line (excluding Corporate Centre) (%) Revenues by business line (excluding Corporate Centre) (%) A STABLE, DIVERSIFIED AND PROFITABLE BUSINESS MODEL APPENDICES RB: Retail banking incl. Regional Banks, LCL and International retail banking (IRB); AG: Asset gathering, including Insurance; SFS: Specialised financial services; LC: Large customers Insurance 21% Asset management 11% Wealth management 2% Regional Banks 16%LCL 7% CA Italia 7% Other IRB 3% Consum. Finance 2% Leasing & Fact. 2% CIB 24% Asset servicing 5% Retail banking 33% Asset gathering 34% Spec. fin. serv. 4% NIGS excl. CC 2025: €9.5bn Large customers 29% Insurance 7% Asset management 8% Wealth management 4% Regional Banks 33%LCL 9% CA Italia 7% Other IRB 2% Consum. Finance 7% Leasing & Fact. 2% CIB 16% Asset servicing 5% Revenues excl. CC 2025: €42.4bn Retail banking 52% Asset gathering 19% Spec. fin. serv. 8% Large customers 21%
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61 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP RESULTS BY DIVISION – Q4-25 APPENDICES RB: Regional Banks; AG: Asset Gathering, including Insurance; IRB: International Retail Banking, SFS: Specialised financial services; LC: Large customers; CC: Corporate Centre €m RB LCL IRB AG SFS LC CC Total Revenues 3,774 1,023 1,023 2,107 908 2,152 (1,015) 9,971 Operating expenses (2,598) (664) (658) (979) (470) (1,309) 761 (5,917) Gross operating income 1,176 359 365 1,128 437 844 (254) 4,054 Cost of risk (379) (132) (121) (12) (313) (96) 44 (1,009) Equity-accounted entities 11 - - 64 (99) 7 (586) (603) Net income on other assets (3) (0) 0 (0) (4) (1) (10) (19) Income before tax 804 227 244 1,179 21 754 (806) 2,424 Tax (232) (70) (42) (258) (21) (105) 112 (616) Net income from discont'd or held-for-sale ope. - - (0) - - - - (0) Net income 572 157 203 921 0 649 (694) 1,807 Non controlling interests (1) (0) (25) (121) (28) 1 1 (173) Net income Group Share 571 157 177 800 (27) 650 (693) 1,634 Q4-25 €m RB LCL IRB AG SFS LC CC Total Revenues 3,276 960 993 2,037 915 2,108 (472) 9,817 Operating expenses (2,503) (647) (588) (930) (447) (1,298) 549 (5,863) 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 Q4-24
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62 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP RESULTS BY DIVISION – FULL YEAR 2025 APPENDICES RB: Regional Banks; AG: Asset Gathering, including Insurance; IRB: International Retail Banking, SFS: Specialised financial services; LC: Large customers; CC: Corporate Centre €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 (9,956) (2,448) (2,225) (3,365) (1,780) (5,039) 2,084 (22,729) 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 2024 €m RB LCL IRB AG SFS LC CC Total Revenues 13,912 3,945 4,122 7,968 3,540 8,882 (2,810) 39,558 Operating expenses (10,252) (2,524) (2,258) (3,747) (1,830) (5,171) 2,213 (23,568) Gross operating income 3,660 1,421 1,864 4,220 1,710 3,711 (597) 15,990 Cost of risk (1,471) (410) (327) (38) (1,076) (127) (3) (3,452) Equity-accounted entities 17 - - 201 (85) 29 (586) (423) Net income on other assets (1) 4 0 448 (3) (1) (10) 437 Income before tax 2,205 1,015 1,538 4,831 547 3,612 (1,196) 12,552 Tax (659) (321) (435) (1,044) (123) (827) 391 (3,018) Net income from discontinued or held-for-sale operations - - 0 - - - - 0 Net income 1,546 694 1,103 3,787 424 2,785 (805) 9,535 Non controlling interests (2) (0) (147) (552) (92) 1 11 (781) Net income Group Share 1,545 693 956 3,235 333 2,786 (795) 8,754 2025
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63 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP ACTIVITY INDICATORS – REGIONAL BANKS APPENDICES Customer assets and loans outstanding (€bn) Customer assets (€bn)* Dec. 23 Mar. 24 Jun. 24 Sept. 24 Dec. 24 Mar. 25 Jun. 25 Sept. 25 Dec. 25 ∆ Dec./Dec. Securities 47.5 49.4 46.8 48.4 47.8 49.3 49.3 50.2 49.8 +4.1% Mutual funds and REITs 28.5 29.5 29.6 31.0 30.3 32.3 32.8 33.9 34.3 +13.4% Life insurance 216.2 218.7 219.8 222.2 226.9 231.0 235.0 238.2 244.1 +7.6% Off-balance sheet assets 292.2 297.6 296.2 301.6 305.0 312.6 317.2 322.3 328.1 +7.6% Demand deposits 204.1 197.5 201.2 200.1 199.0 196.8 200.8 203.7 204.9 +3.0% Home purchase savings schemes 101.6 96.7 93.5 91.3 90.7 87.7 85.7 84.3 84.1 (7.3%) Passbook accounts 203.8 206.0 207.6 209.6 215.8 218.0 219.5 220.6 224.3 +3.9% Time deposits 86.3 95.3 99.3 100.3 100.4 100.6 100.2 100.7 102.7 +2.3% On-balance sheet assets 595.8 595.5 601.5 601.3 605.9 603.2 606.1 609.3 615.9 +1.7% TOTAL 888.0 893.1 897.8 903.0 910.9 915.7 923.3 931.6 944.1 +3.6% Passbooks, o/w (€bn)* Dec. 23 Mar. 24 Jun. 24 Sept. 24 Dec. 24 Mar. 25 Jun. 25 Sept. 25 Dec. 25 ∆ Dec./Dec. Livret A 82.3 84.3 85.8 86.9 90.2 91.3 92.0 91.9 93.7 +3.8% LEP 22.9 24.4 24.5 24.9 26.4 26.7 25.6 25.9 26.8 +1.6% LDD 41.9 42.6 43.1 43.4 44.6 45.1 45.5 45.4 46.0 +3.0% Mutual shareholders passbook account 13.9 14.7 15.3 15.9 16.6 17.6 18.5 19.2 19.6 +18.0% * including customer financial instruments. Livret A, LDD and LEP outstandings before centralisation with the CDC. Loans outstanding (€bn) Dec. 23 Mar. 24 Jun. 24 Sept. 24 Dec. 24 Mar. 25 Jun. 25 Sept. 25 Dec. 25 ∆ Dec./Dec. Home loans 392.7 390.7 390.4 391.0 392.0 392.3 393.6 395.6 397.7 +1.4% Consumer credit 23.6 23.5 23.6 23.9 24.3 24.2 24.6 24.9 25.4 +4.3% SMEs 121.0 121.7 122.4 124.1 125.8 126.6 127.1 127.6 129.1 +2.7% Small businesses 30.5 30.1 29.9 29.8 29.6 29.5 29.4 29.3 29.4 (0.6%) Farming loans 46.0 46.3 46.8 47.2 46.6 47.1 47.8 48.0 47.5 +1.9% Local authorities 32.4 31.4 30.8 29.7 29.5 29.0 29.1 29.0 29.3 (0.6%) TOTAL 646.2 643.6 644.0 645.8 647.8 648.8 651.7 654.4 658.5 +1.6%
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64 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE S.A. ACTIVITY INDICATORS – LCL APPENDICES Customer assets and loans outstanding (€bn) LCL - Customer savings (€bn) Customer savings (€bn)* Dec. 23 Mar.24 Jun. 24 Sept. 24 Dec. 24 Mar.25 Jun. 25 Sept. 25 Dec. 25 ∆ Dec./Dec. Securities 13.8 15.7 14.4 14.6 14.8 14.7 14.7 15.3 14.9 +0.4% Mutual funds and REITs 9.2 9.8 9.6 10.4 10.2 9.6 9.7 10.4 10.9 +6.2% Life insurance 62.6 62.4 62.3 63.8 64.7 64.7 65.7 67.3 68.5 +5.9% Off-balance sheet savings 85.6 87.9 86.4 88.8 89.7 89.0 90.1 93.0 94.2 +5.1% Demand deposits 62.0 58.5 59.3 59.5 60.1 58.3 59.9 60.1 60.2 +0.2% Home purchase savings plans 9.4 9.3 9.2 9.0 8.9 8.8 8.7 8.5 8.3 (5.9%) Bonds 10.0 10.2 11.7 11.4 11.2 11.6 11.9 12.0 12.2 +8.8% Passbooks* 51.0 52.9 53.0 53.2 53.4 56.7 56.3 55.6 55.7 +4.3% Time deposits 29.7 32.1 32.3 31.3 31.7 32.0 29.3 28.0 28.6 (9.9%) On-balance sheet savings 162.0 162.9 165.4 164.5 165.3 167.5 166.0 164.2 165.0 (0.2%) TOTAL 247.6 250.8 251.8 253.3 255.0 256.5 256.0 257.2 259.3 +1.7% Passbooks* o/w (€bn) Dec. 23 Mar.24 Jun. 24 Sept. 24 Dec. 24 Mar.25 Jun. 25 Sept. 25 Dec. 25 ∆ Dec./Dec. Livret A 15.8 16.8 17.1 17.4 17.5 18.2 18.4 18.4 18.3 +4.5% LEP 2.0 2.3 2.4 2.4 2.5 2.6 2.5 2.5 2.5 +2.4% LDD 9.6 10.0 10.1 10.2 10.1 10.5 10.5 10.5 10.3 +2.6% TOTAL 27.5 29.1 29.6 30.0 30.0 31.3 31.4 31.5 31.1 +3.7% * 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. 23 Mar.24 Jun. 24 Sept. 24 Dec. 24 Mar.25 Jun. 25 Sept. 25 Dec. 25 ∆ Dec./Dec. Corporate 31.7 31.3 31.5 31.6 31.9 31.9 32.6 33.3 33.5 +4.7% Professionals 24.4 24.4 24.4 24.4 24.6 24.7 24.8 25.0 25.2 +2.6% Consumer credit 8.7 8.6 8.6 8.7 8.9 8.5 8.6 8.6 8.7 (1.9%) Home loans 103.9 103.8 103.7 104.1 105.3 105.6 105.6 106.1 106.5 +1.1% TOTAL 168.8 168.1 168.2 168.8 170.7 170.7 171.5 172.9 173.8 +1.9%
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65 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP ACTIVITY INDICATORS APPENDICES Regional Banks - Fees and commissions breakdown (€m) Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 ∆ Q4/Q4 Services and other banking transactions 209 240 230 231 238 243 237 232 232 (2.3%) Securities 71 80 76 77 77 87 77 79 86 +12.0% Insurance 824 1,086 885 890 850 1,043 912 916 1,018 +19.8% Account management and payment instruments 543 543 550 562 553 561 560 553 575 +4.0% Net fees & commissions from other customer activities (1) 152 103 119 125 111 113 108 110 121 +9.1% TOTAL(1) 1,799 2,052 1,859 1,886 1,829 2,046 1,894 1,890 2,033 +11.1% (1) Revenues generated by the subsidiaries of the Regional Banks, namely fees and commisions from leasing and operating leasing transactions LCL - Revenues breakdown (€m) Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 ∆ Q4/Q4 Net interest income *,** 507 469 514 506 469 461 497 497 522 +11.2% Home purchase savings plans (PEL/CEL) 6 0 1 0 0 0 -1 1 1 N.S. Net interest income excl. HPSP 501 469 513 506 469 461 498 496 521 +11.0% Fee and commission Income** 452 485 465 473 491 502 479 485 501 +2.0% - Securities 33 33 30 28 31 24 22 29 21 (31.3%) - Insurance 183 204 193 190 188 217 204 206 212 +12.4% - Account management and payment instruments** 237 248 242 255 271 262 254 250 268 (1.3%) TOTAL 959 954 979 979 960 963 976 982 1,023 +6.5% TOTAL excl. HPSP 953 954 978 979 960 963 978 981 1,022 +6.4% * incl. other revenues ** Accounting restatement between NII and commissions made since Q1-25 IRB Italy - Revenues breakdown (€m) Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 ∆ Q4/Q4 Net interest income 450 450 453 447 449 424 433 430 431 (3.8%) Fee and commission Income 292 303 328 322 292 326 328 326 331 +13.4% - Fees and commissions on managed assets 100 145 139 129 118 162 151 143 137 +16.0% - Banking fees and commissions 193 158 189 194 173 164 177 184 194 +11.6% Other revenues (28) 21 4 (6) (7) 27 6 3 (11) +56.5% TOTAL 714 775 784 764 733 777 767 759 751 +2.4%
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66 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP CHANGE IN FRENCH RETAIL BANKING NEW LOANS PRODUCTION APPENDICES LCL new loans production (excluding SGL) since 2018 (€bn) Regional Banks new loans production (excluding SGL) since 2018 (€bn) 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 0.6 0.6 0.7 0.6 2.8 3.9 4.9 4.5 4.2 4.3 5.6 4.9 3.9 3.7 3.9 3.9 3.3 4.5 5.9 5.2 4.6 6.1 5.8 4.7 3.6 3.3 2.8 2.3 1.6 1.9 3.3 3.7 2.4 2.4 3.4 3.0 0.9 1.0 0.9 1.1 1.0 1.1 1.1 1.2 1.1 1.1 1.0 1.2 1.1 1.3 1.1 1.2 1.5 1.5 1.6 1.3 1.6 1.2 1.1 1.1 1.1 1.0 1.0 1.4 1.1 1.1 1.3 1.3 2.2 2.5 2.4 2.8 2.1 2.4 2.1 1.9 1.8 1.6 1.2 1.9 1.3 2.6 2.2 2.5 2.6 3.6 3.0 2.4 1.4 1.8 2.1 2.2 1.7 2.4 2.5 2.8 2.6 2.7 3.0 2.9 6.6 8.2 9.0 9.2 8.0 8.7 9.6 8.9 7.6 6.9 7.0 7.8 6.5 9.2 10.1 9.7 9.5 11.9 11.2 9.2 7.2 7.0 6.8 6.3 5.1 6.0 7.5 8.5 6.7 6.8 8.3 7.8 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 T3 2025 Q4 2025 Consumer credit Homeloans Professionals Corporate Average prod. Average prod. Average prod. Average prod. Average prod. Average prod. 8.2 8.8 7.3 8.9 10.5 6.8 Average prod. 6.8 7.4 Average prod. 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 1.9 2.1 2.2 2.3 12.6 13.9 15.7 14.7 13.0 14.7 17.5 16.9 14.2 13.9 15.8 18.9 14.9 18.0 18.6 16.1 15.2 16.9 17.9 16.3 13.0 12.9 11.5 9.6 7.2 8.5 10.2 10.4 9.9 10.9 12.5 12.2 8.5 8.8 8.0 10.2 8.6 9.7 9.1 11.6 5.6 10.8 8.6 11.1 9.3 10.7 9.3 11.9 10.7 12.5 10.4 13.2 11.5 11.0 9.5 10.9 8.9 9.5 9.1 11.7 9.7 10.8 10.0 13.7 23.1 25.0 25.9 27.3 23.7 26.7 28.8 31.3 21.7 26.1 26.8 32.3 26.3 31.1 30.0 30.4 28.0 31.8 30.5 31.6 26.6 25.9 22.9 22.5 18.0 20.0 21.3 24.2 21.5 23.7 24.7 28.2 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Consumer credit Home loans Corporates-Professionals-Agriculture-public entities 25.3 Average prod. 27.6 Average prod. 26.7 Average prod. 29.5 Average prod. 30.5 Average prod. 24.5 Average prod. Average prod. 20.9 Average prod. 24,5
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67 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP EXPOSURE TO FRENCH SOVEREIGN RISK – CREDIT AGRICOLE GROUP APPENDICES (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: €0.3bn; Hedging on assimilated of banking portfolio: €0.3bn (4) Bonds only → 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. Banking activity (4) (in billion euros) Insurance activity (4) (in billion euros) As of 30/09/2025 Financial assets at fair value through profit or loss Financial assets at fair value through other comprehensive income (OCI) Financial assets at amortised cost Total Bank activity (3) French government bond (OAT) 4.1 2.4 22.3 28.8 Assimilated to French sovereign risk (1) - 4.5 15.5 20.0 Total French sovereign risk of banking portfolio 4.1 6.9 37.8 48.8 As of 30/09/2025 Other models (2) VFA model (2) (Variable Fee Approach) Total insurance activityFinancial assets at fair value through profit or loss Financial assets at fair value through other comprehensive income (OCI) Financial assets at amortised cost Total assets on other models French government bond (OAT) - 1.5 0.4 1.9 34.6 36.5 Assimilated to French sovereign risk (1) - 2.6 0.5 3.1 10.2 13.3 Total French sovereign risk of insurance activities - 4.1 0.9 5.0 44.8 49.8
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68 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. 184 265 321 311 366 87 46 67 40 34 -8 8 10 25 -21 263 319 397 376 379 20 21 21 21 22 -30 -20 -10 - 10 20 30 -50 50 150 250 350 450 550 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 S3 CoR S1&S2 CoR Others CoR/oustandings four rolling quarters COST OF RISK APPENDICES Regional Banks LCL CA Italia CAPFM CoR: +44.0% Q4/Q4; CoR / outstandings: 22bp NPL ratio: 2.1%; Coverage ratio: 92.8% CoR: +48.8% Q4/Q4; CoR / outstandings: 44bp NPL ratio: 2.8%; Coverage ratio: 79.8% (*) Cost of risk/outstandings (in annualised quarterly bp) at 20bp for Financing activities, 163bp for CAPFM, 30bp for LCL, 72bp for CA Italia, 35bp for CAL&F and 23bp for the RBs. Coverage ratios are calculated based on loans and receivables due from customers in default CoR: +69.8% Q4/Q4; CoR / outstandings: 24bp NPL ratio: 2.2%; Coverage ratio: 58.4% CoR / outstandings: 6bp NPL ratio: 1.6%; Coverage ratio: 85.4% CréditAgricoleCIB – Financing activities CAL&F CoR: +55.7% Q4/Q4; CoR / outstandings: 24bp NPL ratio: 2.9%; Coverage ratio: 46.6% CoR: -1.3% Q4/Q4; CoR / outstandings: 141bp NPL ratio: 4.9%; Coverage ratio: 72.1% -79 -5 95 57 -14 166 -10 -84 -18 86 1 -3 2 -12 4 88 -19 12 27 76 7 8 6 7 6 -110 -90 -70 -50 -30 -10 10 30 -100 -50 0 50 100 150 200 250 300 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Others S1&S2 CoR S3 CoR CoR/oustandings four rolling quarters 223 227 228 236 225 43 -9 -1 -5 20 20 7 1 21 37 286 225 228 252 283 127 130 135 142 141 - 50 100 -35 15 65 115 165 215 265 315 365 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Others S1&S2 CoR S3 CoR CoR/oustandings four rolling quarters 36 95 104 86 162 42 0 -10 7 -35 -1 -3 -2 5 78 92 95 92 13222 20 20 21 24 - 5 10 15 20 25 -30 20 70 120 170 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 S3 CoR S1&S2 CoR Others CoR/oustandings four rolling quarters 70 52 41 50 66 3 2 2 3 123 2 2 4 35 76 56 45 57 113 40 39 36 38 44 - 5 10 15 20 25 30 35 40 45 -15 5 25 45 65 85 105 125 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 S3 CoR S1&S2 CoR Others CoR/oustandings four rolling quarters 27 22 26 23 44 -5 6 -21 4 -13-3 -4 1 -1 0 24 25 21 22 24 20 24 7 26 31 -10000.0% -7000.0% -4000.0% -1000.0% 2000.0% -20 30 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Others S1&S2 CoR S3 CoR CoR/oustandings four rolling quarters
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69 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE S.A. 6.0m Customers (2) ~16,100 Employees 1,205 Points of sale Rank Number 2 in consumer finance(7) Number 3 asset manager(8) Number 4 bankinsurer in life(9) CA Group in Italy (1) €346bn Total customer assets (3) €103bn Loans outstanding €5.1bn Revenues 5.1% Market share(5) retail banking Branches market share in Italy (4) Distribution of the Group’s net income Group share (10) in Italy Number 1 commercial bank in NPS(6) 0-2% 2-5% 5-10% > 10% 0% €1,097m Net income Group share 2025 14% Crédit Agricole S.A. Net Income Group Share(11) CRÉDIT AGRICOLE GROUP IN ITALY DEVELOPMENT IN ITALY, THE SECOND LARGEST DOMESTIC MARKET 56% 11% 21% 12% Retail banking Specialised financial services Asset gathering Large customers Total net income: €1097m (1) Aggregation of Group entities in Italy (CA Italia, CA Auto Bank, Crédit Agricole CIB, CAIW, AGOS AMUNDI, Vera Assicurazioni, Vera Protezione, CACI, CA Vita, CA Assicurazioni, CACEIS, CA Factoring); (2) including all entities present in Italy; (3) Including Amundi AuM and CACEIS AuC “non-Group”; (4) Source: Banca d’Italia. 30/06/2025; (5) In number of branches at 30/09/2025; (6) Net Promoter Score. Source Doxa October 2025 study; (7) Assofin publication. 30/04/2025 (excl. credit cards); (8) AUM; Source: Assogestioni. 30/09/2025; (9) Production. Source: IAMA, 30/09/2025; (10) Excluding first time consolidation of Banco BPM stake but including +€21m in equity-accounted entities for 2025; (11) Excluding Corporate Centre
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70 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP Commercial lending of €56.6bn for CAG, €31.3bn for Crédit Agricole S.A. of which ~€14.2bn for office real estate, ~€10.2bn for commercial spaces and ~€15.9bn for residential real estate (respectively ~€9.4bn, ~€5.3bn, ~€6.3bn for Crédit Agricole S.A.) of which €25.3bn Regional Banks, €22.1bn Crédit Agricole CIB, €5.3bn LCL and €1.4bn CA Italia Representing 3.1% of commercial lending CAG, 2.7% at the level of Crédit Agricole S.A. Exposures (on- and off-balance sheet)/type of customer (commercial real estate data(1) CAG end-June 2025) 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 68% of exposures to real estate professionals for CAG and 70% of CASA exposures, 3. Internal rating equivalent 4. Default rate calculated with on- and off-balance sheet exposures as the denominator. LTV (loan to value): 70% of CAG exposures with an LTV < 60%, 77% for CASA(2) High quality of CRE portfolio: 69% of exposures are Investment Grade for GCA and 83% for CASA(3) Low default rate in commercial real estate: 2.2% for CAG and 2.0% for CASA(4) and S3 coverage ratio of 56% for CAG and 56% for CASA. Exposures (on- and off-balance sheet)/geographic area (commercial real estate data(1) CAG end-June 2025) CAG AND CASA EXPOSURE TO CORPORATE REAL ESTATE Limited exposure to commercial real estate(1) at end-June 2025 Good quality of commercial real estate assets and risks under control at end-June 2025 APPENDICES Real Estate companies and Real Estate Investment funds 37% Other sectors 6% Real Estate Developpers 22% Specialised Lending and Asset Investors 35% France 72% Italy 6% Rest of European Union 8% United States 5% Rest of the world 9%
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71 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. RESILIENCE IN THE FACE OF MOUNTING CHALLENGES APPENDICES Sources: Eurostat. Crédit Agricole S.A./ECO. Forecasts at 31 December 2025 IMF (Jan. 2026): +0.8% in 2025 and +1.0% in 2026 European Commission (Nov. 2025): +0.7% in 2025 and +0.9% in 2026 OECD (Dec. 2025): +0.8% in 2025 and +1.0% in 2026 Banque de France (Dec. 2025): +0.8% in 2025 and +1.0% in 2026 Sources: Eurostat. Crédit Agricole S.A./ECO. Forecasts at 31 December 2025 Provisioning of performing loans: use of alternative scenarios in addition to the central scenario (Oct. 2025) Central scenario: French GDP +0.7% in 2025 and +1.2% in 2026 Unfavourable scenario: French GDP 0.6% in 2025 and -0.3% in 2026 Severely adverse scenario: French GDP 0.6% in 2025 and -1.2% in 2026 France, Italy, Eurozone – GDP Growth France, Italy, Eurozone – Average annual inflation France. Italy. Eurozone – Unemployment rate France – institutional forecasts (GDP France) Sources: Eurostat. Crédit Agricole S.A. Forecasts at 31 December 2025 6.8 2.8 1.6 1.1 0.8 1.2 1.2 8.8 5.0 1.1 0.5 0.5 0.5 0.8 6.3 3.7 0.5 0.8 1.4 1.2 1.3 2021 2022 2023 2024 2025 2026 2027 France Italy Euro zone% 4 5 6 7 8 9 10 11 12 13 14 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 France Italy Euro zone % of labour force forecast 2.1 5.9 5.7 2.3 0.9 1.0 1.3 1.9 8.7 6.0 1.1 1.7 1.0 1.3 2.6 8.4 5.5 2.4 2.1 1.7 1.6 2021 2022 2023 2024 2025 2026 2027 France Italy Euro zone%
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72 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. MODERATE UPWARD PRESSURE ON INTEREST RATES APPENDICES Equities (quarterly averages) EuroStoxx 50: spot +4.7% Q4/Q3; average +5.5% Q4/Q3 (+18.3% Q4/Q4) Interest rates (month-end) 10-year OAT: -24 bp over the quarter and -25 bp vs Dec.-24 Spread at end-December 25: OAT/Bund: 59 bp (-22 bp vs Sept.-25 and -23 bp vs Dec.-24) BTP/Bund: 54 bp (-30 bp vs Sept.-25; -63 bp vs Dec.-24) Foreign exchange (month-end) EUR/USD: 0.1% vs. Sept.-25 and +13.4% vs. Dec.-24 Sources: LSEG Datastream. Crédit Agricole SA/ECO. Data at 31 December 2025 Interest rates. in euros (%) Equity indexes (base 100 = 31/12/2021) France – Household and corporate leaders’ confidence Sources: LSEG Datastream. Crédit Agricole SA/ECO. Data at 31 December 2025 Sources: Insee. Crédit Agricole SA/ECO. Data at 31 December 2025 60 80 100 120 140 CAC40 CAC40 (quarterly avg.) EURO STOXX 50 -1 0 1 2 3 4 EURIBOR 3M OAT 10Y BUND 10Y % 50 60 70 80 90 100 110 120 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Household confidence Business sentiment LT average
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73 CREDIT UPDATE Q4-25 & FULL YEAR 2025 LENDING IS BASED ON BORROWER SOLVENCY APPENDICES – FRENCH HOUSING MARKET Source: ECB Share of new home loans to households with a floating rate or an initial rate fixation period of up to one year (in %) A cautious origination process that implies low risk characteristics of loans In France, home loan granting based on the borrower’s disposable income (not the value and quality of the asset). The ratio of debt service to income (DSTI) must not significantly exceed 35%. Average DSTI has been around 30%. Average LTV at origination was 79,9 % in September 2025. Loans are almost always amortising, with constant repayments. More than 99% of home loans have a fixed rate until maturity. Average home loan term was 22 years in September 2025. French home loan market is largely based on guarantees provided by Crédit Logement and home loan insurance companies. Non-performing loans ratio for home loans is very low, at around 1%. STRUCTURAL FUNDAMENTALS Strong demand-side factors Lower rate of home ownership (61.2% of owner-occupiers in 2024) compared to EU countries (68.4%). Other factors support demand (divorce, moving out process, retirement planning, limited supply of rental accommodation, housing often perceived as a “safe haven” investment). Higher demand towards more comfortable housing (terraces, houses with gardens), due to the health crisis, and the development of work from home. Weak supply Structural housing deficit in France: between 300,000 and 400,000 units to be built per year by 2030 according to different studies. Low level of building permits issued acts as a factor penalising the housing supply in the long run. Housing starts particularly low and insufficient to meet demand: linked to the scarcity of land, delays in obtaining permits. Housing starts and permits (in thousands) Source: French Ministry of Ecology Ratio of non-performing loans / Total home loans (in %) Source: ACPR 250 350 450 550 650 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Permits Housing starts Housing units to be built per year 0 20 40 60 80 100 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Spain France Italy Germany Euro zone Netherlands
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74 CREDIT UPDATE Q4-25 & FULL YEAR 2025 A RESILIENT MARKET APPENDICES – FRENCH HOUSING MARKET The French market did not experience a bubble / excessive risk-taking, as seen in the US, the UK, Ireland or Spain between 1998 and 2007. The 2008-2009 recession put an end to the boom. In France, the correction was limited, as prices were globally stable between 2008 and 2014, to be compared with a cumulative decline in prices of 32.2% in Ireland, 27.5% in Spain, 16.9% in the Netherlands and 14.3% in Italy. In the UK, prices dropped by 13.9% between end-2007 and end-2012. In France, the market rebounded sharply between 2015 and 2021, with housing sales reaching record levels and prices accelerating, albeit moderately. For existing homes, sales have risen sharply since the low in 2013 (658,000), surpassing the former 2006 high (841,000) as early as 2016, and reaching a record level in 2021 (1.251 million). Prices recovered gradually between 2015 and 2019 (+2.9% p.a. on average), then accelerated (+6.8% p.a. between end 2019 and end 2021), slowing to +4.5% p.a. by end 2022. For newly-built homes (developer segment), the sales jumped by 16.3% per year over 2014-2017, from 83,000 to 130,000, just above the 2007 peak. They remained stable until 2019 before starting to reduce. Prices rose by an average of 2.9% a year between the end of 2014 and the end of 2020, before accelerating over the following two years (+5.4% a year). In 2020-2022, the French housing market remained buoyant despite the Covid-19 pandemic. It began to correct in 2023, with rising interest rates, accelerating its necessary normalization. Between 2022 and 2023, rise in home loans interest rates undermined households' ability to buy property, at a time when high inflation has eroded their purchasing power, and high geopolitical uncertainties weighed on their confidence. Home loans interest rates reached 3.6% (excl. insurance) in December 2023 (vs 1.1% two years before). In 2023, sales of existing homes are higher than the 2010s average (932,000 in 2023 vs. around 840,000 in the 2010s). Prices had fallen since end-2022 (-3.9% yoy at the end of 2023). 65,000 new-build homes were sold in 2023, a 36.9% drop compared to 2022. Prices were quite stable (-0.7% yoy at the end of 2023). Source: Oxford Economics France: year-on-year change in house prices (%) Home prices: average year-on-year growth (year-end, %) Source: INSEE -6 -3 0 3 6 9 12 €Z FR DE IT ES PT NL IE BE FI AT SW UK 2014/2008 2022/2014 2024/2022 -10% -5% 0% 5% 10% 15% 01 03 05 07 09 11 13 15 17 19 21 23 25 Existing New-built Total housing
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75 CREDIT UPDATE Q4-25 & FULL YEAR 2025 ECONOMIC ENVIRONMENT FACTORS After a decline in 2024, the residential real estate market rebounded in 2025 The 10-year OAT has fluctuated between 2.7% and 3.6% since December 2023. Banking competition has led to a continuous decrease in mortgage rates in 2024, reaching 3.1% in December, then 2.98% in October 2025. Second-hand home market (around 80% and 90% of sales) ˃ In 2024, 845,000 second-hand homes were sold over one year, a 9.3% loss over one year (compared to 1.2 million in 2021). In October 2025, 929,000 units were sold (an 11.9% rise over one year), a sign of recovery in this market. ˃ Prices had adjusted on a year-on-year basis since 2023 (-3.9% yoy in Q4 2024). This adjustment was reinforced by price reductions agreed to by owners of energy-inefficient properties following the ban on their rental. In the Q3 2025, prices of second-hand homes rose by 0,7% compared to Q3 2024, as the rise of sales has accelerated. Newly-built home market ˃ In addition to the drop in demand, the newly-built market has been recently confronted with supply constraints: rising construction costs and inflation of technical standards and environmental requirements. ˃ In 2024, 61,700 newly-built homes were sold over one year (near its historical lowest level), a 5.7% drop over one year. In Q3 2025, 59,100 new homes were reserved over a one-year period. ˃ As sales remained quite stable in 2024, prices remained relatively stable (+0.4% yoy in 2024). In Q3 2025, prices rose by 1,1% in this segment compared to Q3 2024. What situation for 2026? Favorable macroeconomic factors (low inflation, higher gross disposable income, sustainable low unemployment rate albeit a slight rise) have supported a recovery in existing home sales in 2025. Even though these factors are meant to work in favor of a recovery of demand in 2026, upward pressures on long term interest rates are set to stall the rebound. Low levels of newly-built home sales would persist as the Pinel tax deduction scheme was not renewed for 2026. No new fiscal scheme is yet expected to be implemented. Prices of second-hand dwellings are set to rise slightly in 2026, as buyers purchasing power is expected to remain higher than previous years. The increase of prices should be moderate, because of constraints on long term interest rates in our economic scenario. Source: Banque de France. APPENDICES – FRENCH HOUSING MARKET Source: CGEDD, Notaries Sales of existing and newly-built homes (over one year, in thousands) Home loan rates (in %, monthly average, excluding insurance) Unemployment rate as defined by the ILO(1) (quarterly, in %) Source: INSEE (1) International Labour Organization -2 0 2 4 6 03 05 07 09 11 13 15 17 19 21 23 25 New home loan rate ECB Deposit rate 10-year OAT 7 8 9 10 11 00 02 04 06 08 10 12 14 16 18 20 22 24 0 500 1000 1500 40 60 80 100 120 140 160 00 02 04 06 08 10 12 14 16 18 20 22 24 Newly-built Existing homes (right)
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76 CREDIT UPDATE Q4-25 & FULL YEAR 2025 CONTACT LIST Olivier BÉLORGEY Deputy CEO and CFO, Crédit Agricole CIB and Group Head of Treasury and Funding, Crédit Agricole Group+33 1 57 87 19 24 olivier.belorgey@ca-cib.com Laurent CÔTE Group Treasurer, Crédit Agricole Group +33 1 41 89 46 64 laurent.cote@ca-cib.com Aurélien HARFF Head of Medium and Long Term Funding, Crédit Agricole Group +33 1 41 89 01 30 aurelien.harff@ca-cib.com Jean-Marc PINAUD General Manager of Crédit Agricole Home Loan SFH +33 1 41 89 05 22 Jean-marc.pinaud@ca-cib.com Isabelle ROSEAU Head, Covered Bonds Structuring, General Manager of Crédit Agricole Public Sector SCF +33 1 41 89 05 21 isabelle.roseau@ca-cib.com Cécile MOUTON Head of Investor Relations and Financial Communication +33 1 57 72 86 79 cecile.mouton@credit-agricole-sa.fr Florence QUINTIN DE KERCADIO Debt Investor Relations and Ratings +33 1 43 23 25 32 florence.quintindekercadio@credit-agricole-sa.fr Gwenaëlle LERESTE Debt Investor Relations and Ratings +33 1 57 72 57 84 gwenaelle.lereste@credit-agricole-sa.fr Yury ROMANOV Debt Investor Relations and Ratings +33 1 43 23 86 84 yury.romanov@credit-agricole-sa.fr Sophie CORD’HOMME Non-financial Rating Agencies +33 1 57 72 49 28 sophie.cordhomme@credit-agricole-sa.fr This Credit Update is available on our website at: www.credit-agricole.com/en/finance/debt-and-ratings See all our press releases at: www.credit-agricole.com – www.creditagricole.info @Crédit_Agricole Groupe Crédit Agricole @créditagricole_sa