Results for second quarter and first half 2017

Q2-17: another quarter of strong growth in net income

Crédit Agricole Group*

Stated net income Group share Q2: €2,106m  +8% Q2/Q2  H1: €3,706m +34% H1/H1

Stated revenues Q2: €7,928m  -4% Q2/Q2  H1: €16,177m +5% H1/H1

Fully-loaded CET1 ratio 15.0% 550bp above the P2R¹

• Acceleration in growth: retail banks, specialised businesses and Large customers
• Q2 underlying² NIGS³: €2,003m, +23% Q2/Q2 (H12: €3,656m, +27% H1/H1)
• Q2 underlying revenues²: €7,940m, (H1²: €16,272m, +4% H1/H1)
• Fall in cost of credit risk to 21bp⁴ net provision reversals at Regional Banks in Q2

* Crédit Agricole S.A. and 100% of Regional Banks

Crédit Agricole S.A.

Stated net income Group share Q2: €1,350m  +17% Q2/Q2  H1: €2,195m +59% H1/H1

Stated revenues Q2: €4,708m  -1% Q2/Q2  H1: €9,408m +10% H1/H1

Fully-loaded CET1 ratio 12.4

% +55bp in Q2

• Q2 underlying2 NIGS³ €1,174m, +43% Q2/Q2 (H1²: €2,067m, +70% H1/H1), earnings per share²: €0.38
• Positive contribution to growth from all business lines
• Q2 underlying² revenues +6.5% Q2/Q2 (H1²: +10.2%), prudent revenue externalisation policy in insurance
• Operating expenses² excluding SRF⁵ quasi stable (Q2/Q2 +1.1% ; H1/H1 +0.9%), 3.3pp improvement in cost/income ratio excluding SRF² Q2/Q2 to 60.5% (H1: 61.6%, 5.7pp improvement)
• Firm grip on risk in all business lines: cost of credit risk 35bp⁴, down -6bp Q2/Q2
• 95% of 2017 MLT market funding programme of Crédit Agricole SA completed at end-July,
• Note: target CET1 ratio of 11% in the Medium-term plan

¹ Pro forma P2R for 2019 as notified in 2016 by the ECB
² Underlying, excluding specific items
³ Net income Group share
⁴ Average over last four rolling quarters, annualised
⁵ Contribution to Single Resolution Fund (SRF)