Page 1

SOCIETE GENERALE RESULTS AT SEPTEMBER 30TH 2021 Press release Paris , November 4th 2021 , Q3 21 : EXCELLENT QUARTER , UNDERLYING GROUP NET INCOME OF EUR 1.4 BILLION ) ( EUR 1.6 BILLION ON A REPORTED BASIS ) Revenues up + 14.9 % vs. Q3 20 ( + 15.0 % * ) driven by growth in all the businesses , in particular a very strong momentum in Financial Services and Financing & Advisory , a very good performance by Global Markets , and continued growth in Retail Banking Underlying gross operating income : EUR 2.4 billion ) , up 32.8 % ( ¹ ) vs. Q3 20 , with a positive jaws effect Still low cost of risk : 15 basis points in Q3 21 , with no significant provision write - back Profitability ( ROTE ) : 10.9 % ( ¹ ) on an underlying basis and 12.7 % on a reported basis in Q3 21 9M 21 : UNDERLYING GROUP NET INCOME OF EUR 4.0 BILLION ( X5 VS. 9M 20 ) Underlying gross operating income : EUR 6.6 billion , + 61 % vs. 9M 20 , driven by revenue growth combined with continued good cost discipline Cost of risk : 16 basis points Profitability ( ROTE ) : 10.4 % ( ¹ ) on an underlying basis and 10.0 % on a reported basis in 9M 21 SOLID CAPITAL POSITION Solid CET 1 ratio : 13.4 % ( ² ) at end - September 2021 , after provision for distribution and including the impact of the share buyback programme , or around 440 basis points above the regulatory requirement Organic capital generation : 61 basis points in the first 9 months of 2021 Attractive shareholder return Launch of the share buyback programme , for an amount of around EUR 470 million , scheduled for November 4th , with the programme expected to be finalised by end - 2021 Provision for distribution per share of EUR 2.03 in 9M 21 ( financing both dividend and share buyback ) consistent with a payout ratio of 50 % of underlying Group net income ( ³ ) SUCCESSFUL EXECUTION OF OUR STRATEGIC PROJECTS Detailed presentation of the new French Retail Banking operation ( a full merger project progressing as scheduled ) Very satisfactory implementation of the strategy in Global Banking & Investor Solutions Development of our differentiating assets ( Boursorama , ALD , KB ) Frédéric Oudéa , the Group's Chief Executive Officer , commented : " The Societe Generale group enjoyed an excellent quarter , with strong commercial and financial performances in all the businesses and improvement of the cost - income ratio . The group also continued to benefit from the quality of its loan portfolio , with a low cost of risk combined with a continued very prudent provisioning policy . Thanks to the unfailing commitment of the teams , the different strategic projects announced , in particular the creation of a new French Retail Bank resulting from the merger of the Societe Generale and Crédit du Nord networks , are all progressing in line with the objectives set . The group is already starting to prepare its new strategic plan 2022-2025 , drawing on its strong , innovative and fast - growing businesses and its recognised leadership in terms of corporate social responsibility . " ( ¹ ) Underlying data ( see methodology note No. 5 for the transition from accounting data to underlying data ) ( 2 ) Phased - in ratio ; fully - loaded ratio of 13.2 % ( 3 ) After deducting interest on deeply subordinated notes and undated subordinated notes The footnote * in this document corresponds to data adjusted for changes in Group Structure and at constant exchange rates