Credit Agricole Sa · EURONEXT:ACA
Credit Agricole Sa — Q4 2025 Earnings Presentation
98 slides from Credit Agricole Sa's earnings presentation, Feb 4, 2026
Slide 1: Results for the 4th Quarter and Full Year 2025
RESULTS FOR THE 4TH QUARTER AND AND FULL YEAR 2025 WORKING EVERY DAY IN THE INTEREST OF OUR CUSTOMERS AND SOCIETY
Slide 2: Disclaimer Note
Disclaimer NOTE The The financial information on Crédit Agricole S.A. and Crédit Agricole Group for the fourth quarter and full year 2025 comprises the presentation slides and the attached appendices which are available on the website: https://https://www.credit-agricole.com/en/finance/financial-pub
Slide 3: Key messages and figures
Key messages and figures 3 FOURTH QUARTER AND FULL YEAR 2025 RESULTS
Slide 4: Dynamic activity and strong results in 2025 > €7bn
DYNAMIC ACTIVITY AND STRONG RESULTS IN 2025 > €7BN • Strong annual results, supported by dynamic activity across all business lines and despite the additional corporate tax charge (1) • High profitability • Proposed 2025 dividend increase to €1.13 per share (+3% vs. 2024) • CET1 ratio above the 11%
Slide 5: The Group continued to grow in 2025
THE GROUP CONTINUED TO GROW IN 2025 Customer capture Retail banking Premium income Net inflows Corporate and France, Italy and Poland loan production Insurance Amundi investment banking France, Italy and Poland #1 EUR Green, Social & 2,100,000 €140bn €52bn €88bn Sustainable bonds #4 All Bonds in EUR
Slide 6: 2025: A year aligned with the strategic trajectory of the ACT 2028 plan
2025: A YEAR ALIGNED WITH THE STRATEGIC TRAJECTORY OF THE ACT 2028 PLAN Revenues (€bn) Net income Group share (€bn) Cost/income ratio ROTE CAGR +3.5% 57.4% >14% > 30 27.2 56.1% 13.9% 26.6 > 8.5 7.3 13.2% 6.9 <55% 2024 pro 2025 pro 2028 target 2024 pro 2025 pro 2028 target 2024 pro 2025 pro 2028 targ
Slide 7: 2026: Rolling start
2026 : ROLLING START Development in France International development Innovation and performance Illustrations Europe : illustrations in Germany Illustrations Digitisation of journeys Digital saving platform: on-balance-sheet saving, Tokenised Finance : first tokenised fund 100% digital Home loan agr
Slide 8: Crédit Agricole S.A. Q4-25 Summary
Crédit Agricole S.A. Q4-25 Summary 8 FOURTH QUARTER AND FULL YEAR 2025 RESULTS
Slide 9: Key figures
KEY FIGURES CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. 2025 4TH QUARTER 2025 2025 4TH QUARTER 2025 €39 558m €9 971m 28 079 m€ €6 966m Revenues Revenues +3,3% 2025/2024 -1.8% Q4/Q4 +3.9% 2025/2024 +1.6% Q4/Q4 GOI €15 990m €4 054m GOI 12 451 m€ €2 867m +4.3% 2025/2024 +2.5% Q4/Q4 +1,3% 2025/2024 -9.7%
Slide 10: Sustained activity in all business lines
CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. ACTIVITY SUSTAINED ACTIVITY IN ALL BUSINESS LINES Change Dec. 25/Dec. 24 517,000 (Q4-25) New customers 2,100,000 (2025) (2) • Retail banking in France: corporate loans remained buoyant (+14% Loans France (RB + LCL): 832 (+1.7%) Q4/Q4); continued upturn in h
Slide 11: High-level revenues
CRÉDIT AGRICOLE S.A. REVENUES HIGH-LEVEL REVENUES Q4/Q4 change in revenues, by business line (€m) Annual revenues (€bn) -1.8% -€126m +91 +44 +60 7,092 -7 +5.3% 6,966 TCAM 28.1 27.2 Increase across Strong momentum CIB: record Q4 Increase excluding all geographical -315 25.2 over all business unfavour
Slide 12: Cost/income ratio under control at 55.7%
CRÉDIT AGRICOLE S.A. EXPENSES COST/INCOME RATIO UNDER CONTROL AT 55.7% (12M) Q4/Q4 change in expenses, by business line (€m) Breakdown by nature of costs (€m) +4.7% +€182m 4,100 +85 +14 3,917 +49 +11 +24 Change in recurring +2.5% expenses +€96m -1 +88 Scope effects: Merca Leasing CA Italia: -€19m (1
Slide 13: Loan loss reserves high and among the best coverage ratios in Europe
CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. RISKS LOAN LOSS RESERVES HIGH AND AMONG THE BEST COVERAGE RATIOS IN EUROPE Crédit Agricole S.A. cost of risk (€m) Cost of risk by business line Cost of risk/outstandings(1) (bp) 629 + 5.9% 594 CC 1% LC 15% LC 16% 629 IRB 594 o/w Banca Progetto (€30m) 20% Cr
Slide 14: Cost of risk by business line
CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. RISKS COST OF RISK BY BUSINESS LINE Cost of risk/outstandings(1) (bp) Additions to provisions of €50m (model revision) with €30m in additions to legal provisions (including UK car loans) 135 142 141 ➔ CAPFM: stable, including €41m in additions to provisions
Slide 15: Quarterly results impacted by the first consolidation of Banco BPM
CRÉDIT AGRICOLE S.A. RESULTS QUARTERLY RESULTS IMPACTED BY THE FIRST CONSOLIDATION OF BANCO BPM Q4/Q4 change in Net income Group share by business line (€m) 2025/2024 change in net income Group share by P&L line (€m) Gross operating +1.3% +126 income +€165m -0.2% stable +97 1,689 -€12m (151) (32) +8
Slide 16: High solvency ratio (target at 11%)
CRÉDIT AGRICOLE S.A. STRONG FINANCIAL POSITION – CRÉDIT AGRICOLE S.A. HIGH SOLVENCY RATIO (TARGET AT 11%) Change in phased-in CET1 ratio (bp) Change in RWA by business line (€bn) +1.4% +€5 Bn +22 bp +8 bp +6.2 +1.9 419 -6 bp 414 -12 bp 11.8% -1.1 12 12 -0.8 -0.6 11.7% SRT: +7bp Banco BPM: 55 56 Pa
Slide 17: Very high capital
CRÉDIT AGRICOLE GROUP STRONG FINANCIAL POSITION – CRÉDIT AGRICOLE GROUP VERY HIGH CAPITAL Change in phased-in CET1 ratio (bp) Change in RWA by business line (€bn) 0.7% +26 bp +€5 Bn +7 bp -9bp 17.6% 658 +7.5 663 -37bp 17.4% SRT: +7 bps 13 -1.0 -0.4 -0.6 -1.2 12 Banco BPM: 83 Models revision 84 M
Slide 18: Strong liquidity position
CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. STRONG FINANCIAL POSITION – CRÉDIT AGRICOLE GROUP STRONG LIQUIDITY POSITION Liquidity reserves (€bn) Customer deposits (€bn) 488 485 by nature by type of customers Eligible collateral already pledged to Central Banks 136 128 and unencumbered (1) 2% 17% 11%
Slide 19: Continued support of the energy transition
CONTINUED SUPPORT OF THE ENERGY TRANSITION A transition plan based on three complementary and well-structured priorities: 1 Accelerating the development of renewable and low-carbon energy 2 As a universal bank, supporting energy transition for all: the 3 Driving our exit path from the financing of b
Slide 20: Income statement
CRÉDIT AGRICOLE S.A. INCOME STATEMENT M€ Q4-25 Q4/Q4 2025 2025/2024 Revenues 6,966 -1.8% 28,079 +3.3% Operating expenses (4,100) +4.7% (15,628) +4.9% Gross operating income 2,867 -9.7% 12,451 +1.3% Cost of risk (629) +5.9% (1,973) +6.6% Equity-accounted entities (633) n.a. (527) n.a. Net income on o
Slide 21: Crédit Agricole S.A. Business lines
Crédit Agricole S.A. Business lines 21 FOURTH QUARTER AND FULL YEAR 2025 RESULTS
Slide 22: AG – Insurance
CRÉDIT AGRICOLE S.A. AG – INSURANCE Savings/Retirement Property and personal insurance Net inflows (€bn) Premium income (€bn) Q4/Q4 +23.4%(1) ∆ Contribution to earnings Q4-25 ∆ Q4/Q4 2025 +3.8 +3.9 3.2 2025/2024 (in €m) 2.8 2.6 +1.9 1.5 (1) Revenues 795 +11.2% 2,987 +5.0% +2.4 +2.3 +23% 1.2 1.4 Gros
Slide 23: AG – Asset management (Amundi)
CRÉDIT AGRICOLE S.A. AG – ASSET MANAGEMENT (AMUNDI) ∆ Contribution to earnings Q4-25 ∆ Q4/Q4 2025 Assets under management (in €bn) 2025/2024 (in €m) +6.2% Revenues 881 (2.1%) 3,342 (1.9%) +2.7% Operating expenses (480) (5.0%) (1,936) +2.4% +41.5 2,380 +0.9 2,240 2,317 +6.8 +13.2 Gross operating inco
Slide 24: AG – Wealth management (Indosuez Wealth Management)
CRÉDIT AGRICOLE S.A. AG – WEALTH MANAGEMENT (INDOSUEZ WEALTH MANAGEMENT) Assets under management (in €bn) ∆ Contribution to earnings Q4-25 ∆ Q4/Q4 2025 +8.5% 2025/2024 (in €m) +3.2% Revenues 429 (0.1%) 1,671 +19.6% + 3.2 233 + 3.9 Operating expenses (358) +3.0% (1,385) +22.2% 226 215 Gross operating
Slide 25: Large customers – Corporate and investment banking
CRÉDIT AGRICOLE S.A. LARGE CUSTOMERS – CORPORATE AND INVESTMENT BANKING Revenues (€m) +2.3% Var +3.3% Var Q4/Q4 12m/12m Contribution to earnings Q4-25 ∆ Q4/Q4 2025 ∆ 2025/2024 6,783 (in €m) 6,568 1,573 1,609 574 588 +2.5% Investment Revenues 1,609 +2.3% 6,783 +3.3% 123 144 +16.8% banking Mkts 2,763
Slide 26: Large customers – Asset servicing (CACEIS)
CRÉDIT AGRICOLE S.A. LARGE CUSTOMERS – ASSET SERVICING (CACEIS) Assets under custody – AUC (€bn) Assets under administration – AUA (€bn) Contribution to earnings Q4-25 ∆ Q4/Q4 2025 ∆ 2025/2024 (in €m) +11.4% Revenues 543 +1.5% 2,100 +0.8% +3.4% Operating expenses (383) (3.3%) (1,471) (2.6%) Gross op
Slide 27: SFS – Personal finance and mobility
CRÉDIT AGRICOLE S.A. SFS – PERSONAL FINANCE AND MOBILITY Contribution to earnings Q4-25 ∆ Q4/Q4 2025 ∆ 2025/2024 Gross managed loans (€bn) Consolidated loans outstanding (€bn) (in €m) Revenues 705 (2.3%) 2,780 +0.6% +2.6% Operating expenses (339) (2.2%) (1,392) +0.7% 119.3 122.0 122.5 ∆ Dec./Dec. Ot
Slide 28: SFS – Leasing & factoring
CRÉDIT AGRICOLE S.A. SFS – LEASING & FACTORING Contribution to earnings Q4-25 ∆ Q4/Q4 2025 ∆ 2025/2024 Leasing outstandings (in €bn) (in €m) Revenues 202 +4.9% 760 +0.6% +7.1% ∆Dec./Dec Operating expenses (131) +31.3% (437) +9.9% 20.9 21.7 Gross operating income 72 (23.3%) 323 (9.8%) 20.3 0.5 Merca
Slide 29: RB – LCL
CRÉDIT AGRICOLE S.A. RB – LCL Contribution to earnings Q4-25 ∆ Q4/Q4 2025 ∆ 2025/2024 Loans outstanding (€bn) Customer assets (€bn) (in €m) +1.9% +1.7% Revenues 1,023 +6.5% 3,945 +1.9% ∆ Dec./Dec. ∆ Dec./Dec. 170.7 172.9 173.8 255.0 257.2 259.3 Operating expenses (664) +2.6% (2,524) +3.1% 24.6 25.0
Slide 30: RB – CA Italia
CRÉDIT AGRICOLE S.A. RB – CA ITALIA Loans outstanding (€bn) Customer assets (€bn) Contribution to earnings Q4-25 ∆ Q4/Q4 2025 ∆ 2025/2024 (in €m) +1.0% +3.1% Revenues 751 +2.4% 3,054 (0.1%) ∆ Dec. / Dec. ∆ Dec. / Dec. 62.1 62.1 62.8 123.7 120.0 121.3 Operating expenses (511) +15.7% (1,675) +0.9% 3.2
Slide 31: Development in Italy, the second largest domestic market
CRÉDIT AGRICOLE S.A. CRÉDIT AGRICOLE GROUP IN ITALY DEVELOPMENT IN ITALY, THE SECOND LARGEST DOMESTIC MARKET CA Group in Italy (1) Branches market share in Italy (4) Distribution of the Group’s net income Group share (10) in Italy 0% 6.0m €346bn Customers (2) Total customer assets (3) 0-2% Large cus
Slide 32: RB – Other IRB
CRÉDIT AGRICOLE S.A. RB – OTHER IRB Loans outstanding Poland. Egypt. Customer assets Poland. Egypt. Ukraine (€bn) Ukraine (€bn) Contribution to earnings Q4-25 ∆ Q4/Q4 2025 ∆ 2025/2024 (in €m) (1) (1) +7.4% +7.6% Revenues 247 +4.6% 973 (3.0%) +5.0% +6.8% Operating expenses (125) (0.7%) (501) +2.7% 12
Slide 33: Corporate centre
CRÉDIT AGRICOLE S.A. CORPORATE CENTRE Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Contribution to earnings Q4-25 ∆ Q4/Q4 2025 ∆ 2025/2024 (in €m) 18 48 Revenues (220) (315) (315) +254 44 39 41 (26) (54) (60) (81) Operating expenses (41) (14) (181) (66) (48) -22 -102 Gross operating income (261) (328) (496) +189 C
Slide 34: Corporate centre – Banco BPM consolidation impact
CRÉDIT AGRICOLE S.A. CORPORATE CENTRE Impact of consolidating the stake held in Banco BPM (price at 10/12/2025) P&L accounted for P&L accounted for P&L accounted for New operational scope in 2023 in 2024 in 2025 from 2026 Revenues +€211m Revenues +€607m Revenues +€834m Revaluation of Revaluation of
Slide 35: Crédit Agricole Group Regional Banks
Crédit Agricole Group Regional Banks 35 FOURTH QUARTER AND FULL YEAR 2025 RESULTS
Slide 36: Regional Banks
CRÉDIT AGRICOLE GROUP REGIONAL BANKS Regional Banks' Q4-25 ∆ Q4/Q4 12m-25 ∆ 12m/12m consolidated results (in €m) stated stated stated stated Loans outstanding (€bn) Customer assets (€bn) Revenues 3,730 +14.9% 16,001 +6.2% +3.6% +1.6% ∆ Dec /Dec Operating expenses (2,566) +3.5% (10,158) +2.9% ∆ Dec /
Slide 37: Appendices: Economic scenario
Appendices Economic scenario 37 FOURTH QUARTER AND FULL YEAR 2025 RESULTS
Slide 38: Resilience in the face of mounting challenges
APPENDICES RESILIENCE IN THE FACE OF MOUNTING CHALLENGES France, Italy, Eurozone – GDP Growth France, Italy, Eurozone – Average annual inflation % France Italy Euro zone % France Italy Euro zone 8.7 8.4 8.8 6.8 6.3 5.9 5.7 6.0 5.5 5.0 3.7 2.8 2.6 2.3 2.4 1.6 2.1 1.9 2.1 1.1 1.1 1.4 1.2 1.2 1.2 0.8 1
Slide 39: Moderate upward pressure on interest rates
APPENDICES MODERATE UPWARD PRESSURE ON INTEREST RATES Interest rates. in euros (%) Equities (quarterly averages) EuroStoxx 50: spot +4.7% Q4/Q3; average +5.5% Q4/Q3 (+18.3% Q4/Q4) 4 % Interest rates (month-end) 3 10-year OAT: -24 bp over the quarter and -25 bp vs Dec.-24 2 Spread at end-December 25:
Slide 40: Appendices: Earnings/Profitability
Appendices Earnings/Profitability 40 FOURTH QUARTER AND FULL YEAR 2025 RESULTS
Slide 41: External growth operations that create value
CRÉDIT AGRICOLE S.A. EXTERNAL GROWTH OPERATIONS THAT CREATE VALUE 2015–2022: success of past acquisitions > 3 years (examples) €8.7bn invested • ROI 2025 ~ 13%(1) • ROI at 3Y ~ 11%(1) 2021 2021 2020 2019 2019 2017 2023–2024: value creation already underway on recent acquisitions < 3 years (examples)
Slide 42: Q4-25 stated results
CRÉDIT AGRICOLE S.A. APPENDICES Q4-25 STATED RESULTS (AMOUNTS IN €M AND Q4/Q4 CHANGE) Q4-25 Asset Wealth Asset IRB Corp. €m AG Ins. LC CIB SFS CAPFM CAL&F FRB IRB CA Italia Total Mgt. Mgt. servicing others center Revenues 2,105 795 881 429 2,152 1,609 543 908 705 202 1,023 998 247 751 (220) 6,966 Op
Slide 43: 12M-25 stated results
CRÉDIT AGRICOLE S.A. APPENDICES 12M-25 STATED RESULTS (AMOUNTS IN €M AND 12M/12M CHANGE) 12M-25 Asset Wealth Asset IRB Corp. €m AG Ins. LC CIB SFS CAPFM CAL&F FRB IRB CA Italia Total Mgt. Mgt. servicing others center Revenues 8,000 2,987 3,342 1,671 8,883 6,783 2,100 3,540 2,780 760 3,945 4,027 973
Slide 44: 2024 and 2025 P&L – Proforma Banco BPM
CRÉDIT AGRICOLE S.A. APPENDICES 2024 AND 2025 P&L - PROFORMA BANCO BPM P&L P&L P&L P&L Delta P&L P&L Proforma Delta Delta Proforma Comptes Proforma 2024 Q1-25 Q2-25 Q3-25 Q4-25 Q1-25 Q2-25 Q3-25 Q4-25 Q1-25 Q2-25 Q3-25 Q4-25 2025 Revenues 27,181 26,574 (607) 7,256 7,006 6,850 6,966 6,935 6,836 6,598
Slide 45: Income statement – Q4-25 vs Q4-24
CRÉDIT AGRICOLE S.A. APPENDICES INCOME STATEMENT – Q4-25 VS Q4-24 THEN 2025 VS 2024 Q4-25 Q4-24 ∆ Q4/Q4 2025 2024 ∆ 2025/2024 €m Revenues 6,966 7,092 (1.8%) 28,079 27,181 +3.3% Operating expenses (4,100) (3,917) +4.7% (15,628) (14,895) +4.9% Gross operating income 2,867 3,175 (9.7%) 12,451 12,286 +1
Slide 46: A stable, diversified and profitable business model
CRÉDIT AGRICOLE S.A. APPENDICES A STABLE, DIVERSIFIED AND PROFITABLE BUSINESS MODEL Revenues 12M-2025 by business line (excluding Net income Group share 12M-2025 by business Corporate Centre) (%) line (excluding Corporate Centre) (%) Large customers Asset Asset gathering Asset Asset servicing Insura
Slide 47: RWA and allocated capital by business line
CRÉDIT AGRICOLE S.A. APPENDICES Asset gathering RWA AND ALLOCATED CAPITAL BY BUSINESS LINE Corporate Insurance; 6% €52.4bn centre; 10% 13% Asset Asset Mngt; 5% Large servici Wealth ng; Mngt customers 3% 2% Risk-weighted assets (1) Capital (2) €137.1bn 33% LCL; 14% Sept. Dec. Dec. Sept. Dec. RWA €bn
Slide 48: Profitable business lines
CRÉDIT AGRICOLE S.A. ANNEXES PROFITABLE BUSINESS LINES RoNE (1) 2025 by Business line and targets 2028 (%) 2025 2024 - proforma CRR3 2028 MTP target ~ 25% >16.0% >16% 27.1% >13% 27.4% 25.1% 24.4% >10.0% 19.6% 18.6% 16.4% 16.0% 13.9% 13.2% 12.3% 9.6% 6.8% 3.2% AG LC SFS LCL CA Italia IRB Other RoTE C
Slide 49: Distribution of share capital and number of shares
CRÉDIT AGRICOLE S.A. APPENDICES DISTRIBUTION OF SHARE CAPITAL AND NUMBER OF SHARES 31/12/2025 31/12/2024 Breakdown of share capital Number of shares % Number of shares % SAS Rue La Boétie 1,921,090,370 63.5% 1,898,995,952 62.4% Treasury shares (1) 394,529 0.0% 16,247,289 0.5% Employees (company inve
Slide 50: Data per share
CRÉDIT AGRICOLE S.A. APPENDICES DATA PER SHARE (€m) Q4-2025 Q4-2024 2025 2024 Net income Group share 1,025 1,689 7,074 7,087 - Interests on AT1, including issuance costs, before tax (148) (112) (556) (463) - Foreign exchange impact on reimbursed AT1 24 - 80 (266) NIGS attributable to ordinary shares
Slide 51: Appendices: Risk indicators
Appendices Risk indicators 51 FOURTH QUARTER AND FULL YEAR 2025 RESULTS
Slide 52: Exposure to French sovereign risk – Crédit Agricole S.A.
CRÉDIT AGRICOLE S.A. APPENDICES EXPOSURE TO FRENCH SOVEREIGN RISK – CREDIT AGRICOLE S.A Banking activity(4) (en billion euros) Financial assets at fair Financial assets at value through other Financial assets at Total 30/09/2025 fair value through comprehensive amortised cost Bank activity(3) profit
Slide 53: Exposure to French sovereign risk – Crédit Agricole Group
CRÉDIT AGRICOLE GROUP APPENDICES EXPOSURE TO FRENCH SOVEREIGN RISK – CREDIT AGRICOLE GROUP Banking activity(4) (in billion euros) Financial assets at fair Financial assets at fair value through other Financial assets at Total 30/09/2025 value through profit or comprehensive income amortised cost Ban
Slide 54: Cost of risk
CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. APPENDICES COST OF RISK 25 24 CACIB – Financing activities CAPFM 135 142 141 LCL 170 22 20 20 21 132 300 30 365 127 130 5 20 7 8 6 7 6 250 10 315 286 283 20 252 120 95 200 88 -10 265 225 228 37 100 15 43 21 92 92 1 7 1 20 150 215 78 7 12 -30 162 76 70 100 2
Slide 55: Risk indicators
CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. APPENDICES RISK INDICATORS Change in loans outstanding Crédit Agricole Group - Evolution of credit risk outstandings €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: im
Slide 56: Well-balanced corporate portfolio
CRÉDIT AGRICOLE S.A. APPENDICES WELL-BALANCED CORPORATE PORTFOLIO Crédit Agricole S.A. : €380bn of EAD(1) Corporate at 31/12/2025 NON BANKING FINANCIAL ACTIVITIES (54 Bn) 14.3% ELECRICITY (36 Bn) 9.5% REAL ESTATE (31 Bn) 8.3% AGRICULTURE AND FOOD PROCESSING (23 Bn) 6.0% → 71.7% of Corporate exposure
Slide 57: VaR – market risk exposures
CRÉDIT AGRICOLE S.A. APPENDICES RISK INDICATORS VaR – market risk exposures • 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. * Gains
Slide 58: Appendices: Financial structure and balance sheet
Appendices Financial structure and balance sheet 58 FOURTH QUARTER AND FULL YEAR 2025 RESULTS
Slide 59: Financial structure and balance sheet – Solvency
CRÉDIT AGRICOLE S.A. APPENDICES FINANCIAL STRUCTURE AND BALANCE SHEET Solvency (€bn) Phased-in 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 (-) Expec
Slide 60: Financial structure and balance sheet – Change in equity
CRÉDIT AGRICOLE S.A. APPENDICES FINANCIAL STRUCTURE AND BALANCE SHEET Change in Equity (m€) Non-controlling €m Group share Total Subordinated debt interests At 31 December 2024 74,710 8,601 83,311 29,273 Impacts of new standards ‐ ‐ ‐ Capital increase (289) - (289) Dividends paid out in 2025 (3,328)
Slide 61: Financial structure and balance sheet – Balance sheet
CRÉDIT AGRICOLE S.A. APPENDICES FINANCIAL STRUCTURE AND BALANCE SHEET Balance sheet (€bn) Assets 31/12/2025 31/12/2024 * * Liabilities 31/12/2025 31/12/2024 ** * Cash and Central banks 164.8 162.3 Central banks 0.2 1.4 Financial assets at fair value through profit or loss 643.6 600.9 Financial liabi
Slide 62: Appendices: Activity indicators
Appendices Activity indicators 62 FOURTH QUARTER AND FULL YEAR 2025 RESULTS
Slide 63: Activity indicators – AG division
CRÉDIT AGRICOLE S.A. APPENDICES ACTIVITY INDICATORS – AG DIVISION Asset under management (€bn) ∆ €bn Dec. 23 Mar. 24 Jun. 24 Sept. 24 Dec. 24 Mar. 25 Jun. 25 Sept. 25 Dec. 25 Dec./Dec. Asset management – Amundi 2,037 2,116 2,156 2,192 2,240 2,247 2,267 2,317 2,380 +6.2% Savings/retirement 330 335 33
Slide 64: Activity indicators – AG division – Insurances
CRÉDIT AGRICOLE S.A. APPENDICES ACTIVITY INDICATORS – AG DIVISION – INSURANCES Life insurance outstanding (€bn) ∆ €bn Dec. 23 Mar. 24 Jun. 24 Sept. 24 Dec. 24 Mar. 25 Jun. 25 Sept. 25 Dec. 25 Dec./Dec. Unit-linked 95.4 98.7 99.8 102.8 104.1 105.7 108.4 112.2 116.1 +11.5% In Euros 234.9 236.2 238.2 2
Slide 65: Activity indicators – AG division – Insurance revenues
CRÉDIT AGRICOLE S.A. ACTIVITY INDICATORS – AG DIVISION – INSURANCE REVENUES Relative sensitivity Business Model Components Evolution and volatility factors estimated by model Average weight • Allocation of the CSM of the VFA model essentially depends on: Savings. o the evolution of outstandings (amo
Slide 66: Activity indicators – AG division – Insurance revenues
CRÉDIT AGRICOLE S.A. APPENDICES ACTIVITY INDICATORS – AG DIVISION – INSURANCE REVENUES Revenues by activity - 2024 proforma series (€m) Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q4/Q4 Savings, Retirement, Funeral (VFA) 473 568 411 513 505 587 495 460 (10.2%) Death & disability (excl. funeral),
Slide 67: Activity indicators – AG division – Amundi
CRÉDIT AGRICOLE S.A. APPENDICES ACTIVITY INDICATORS – AG DIVISION – AMUNDI Breakdown of assets under management by asset class (€bn) 16.6% 17.8% JVs & Victory/Distri US 8.4% 7.5% Treasury 18.7% ETF and index solutions 21.7% Private, alternative and structured 5.1% assets 4.4% 9.2% Equities 8.6% Mult
Slide 68: Activity indicators – SFS division
CRÉDIT AGRICOLE S.A. APPENDICES ACTIVITY INDICATORS – SFS DIVISION Consumer finance Encours de collecte and leasing/factored / Encours de crédits (Mds€) revenues (€m) CAPFM OUTSTANDINGS Personal Finance & Mobility - Gross managed loans (€bn) Sept. 23 Dec. 23 Mar. 24 Jun. 24 Sept. 24 Dec. 24 Mar. 25
Slide 69: Activity indicators – FRB division
CRÉDIT AGRICOLE S.A. APPENDICES ACTIVITY INDICATORS – FRB DIVISION 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 1
Slide 70: Activity indicators – FRB division revenues
CRÉDIT AGRICOLE S.A. APPENDICES ACTIVITY INDICATORS – FRB DIVISION Revenues (€bn) Revenues (€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
Slide 71: ALM policy
CRÉDIT AGRICOLE GROUP APPENDICES ALM POLICY Principles of ALM for the banking portfo LCL: Change in interest margin and impact of macro-hedging • Global interest rate risk quantified using static and dynamic measurements drawing on the calculation of interest rate gaps or impasses, year by year, mea
Slide 72: Change in LCL's balance sheet structure
CRÉDIT AGRICOLE S.A. APPENDICES Change in LCL’s balance sheet structure – between end-2021 and December 2025 Change in average customer rates (resources and loans) Loans outstanding Deposits outstanding € 174 bn € 165 bn Gradual repricing of the loan book. constrained by the usury rate & reduced pro
Slide 73: Activity indicators – RB division
CRÉDIT AGRICOLE GROUP APPENDICES ACTIVITY INDICATORS – RB DIVISION 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 R
Slide 74: Activity indicators – RB division fees and credit risk
CRÉDIT AGRICOLE GROUP APPENDICES ACTIVITY INDICATORS – RB DIVISION Fee and commission income breakdown/Evolution of credit risk outstanding (€m) €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%) Securit
Slide 75: Change in French retail banking new loans production
CRÉDIT AGRICOLE GROUP APPENDICES CHANGE IN FRENCH RETAIL BANKING NEW LOANS PRODUCTION LCL new loans production (excluding SGL) since 2018 (€bn) Average prod. Average prod. Average prod. Average prod. Average prod. Average prod. Average prod. Average prod. 7.3 8.9 10.5 6.8 6.8 7.4 8.2 8.8 11.9 11.2 9
Slide 76: Activity indicators – IRB division
CRÉDIT AGRICOLE S.A. APPENDICES ACTIVITY INDICATORS – BPI DIVISION Outstanding loans Q4-25 by entity 1% Italy 2% 8% Loans outstanding/On-balance sheet deposits/Revenues by entity and by type of customer (%) Poland Egypt CA Italy (€bn) Dec 23 Mar 24 June 24 Sept 24 Dec. 24 Mar 25 June 25 Sept 25 Dec
Slide 77: Activity indicators – IRB division revenues
CRÉDIT AGRICOLE S.A. APPENDICES ACTIVITY INDICATORS – BPI DIVISION Revenues (€m) IRB Italy - Changes in detailed revenues Revenues (€m) Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 ∆ Q4/Q4 0 Net interest income 450 450 453 447 449 424 433 430 431 (3.8%) Fee and commission Income 292 303 328
Slide 78: Appendices: Crédit Agricole Group
Appendices Crédit Agricole Group 78 FOURTH QUARTER AND FULL YEAR 2025 RESULTS
Slide 79: Contribution of the business lines to Q4 earnings
CRÉDIT AGRICOLE GROUP APPENDICES CONTRIBUTION OF THE BUSINESS LINES TO Q4-24 EARNINGS Q4-25 €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
Slide 80: Contribution of the business lines to 2025 earnings
CRÉDIT AGRICOLE GROUP APPENDICES CONTRIBUTION OF THE BUSINESS LINES TO 2025 EARNINGS 2025 €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 1,42
Slide 81: Stated income – Q4-25 vs Q4-24 and full year 2025 vs 2024
CRÉDIT AGRICOLE GROUP APPENDICES STATED INCOME – Q4-25 VS Q4-24 AND FULL YEAR 2025 VS 2024 €m Q4-25 Q4-24 ∆ Q4/Q4 2025 2024 ∆ 2025/2024 Revenues 9 971 9 817 +1.6% 39 558 38 060 +3.9% Operating expenses (5 917) (5 863) +0.9% (23 568) (22 729) +3.7% Gross operating income 4 054 3 954 +2.5% 15 990 15 3
Slide 82: Crédit Agricole Group
CRÉDIT AGRICOLE GROUP APPENDICES CRÉDIT AGRICOLE GROUP Revenues and net income Group share by business line excluding Corporate center (€m) Large Large Asset Asset Asset customers Insurance customers gathering Asset servicing 7% Asset gathering servicing 21% 29% 5% Insurance 34% 5% management 19% 21
Slide 83: Financial structure and balance sheet – Solvency
CRÉDIT AGRICOLE GROUP APPENDICES FINANCIAL STRUCTURE AND BALANCE SHEET Solvency (€bn) Phased-in 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 (-)
Slide 84: Financial structure and balance sheet – Balance sheet
CRÉDIT AGRICOLE GROUP APPENDICES FINANCIAL STRUCTURE AND BALANCE SHEET Balance sheet (€bn) Assets 31/12/2025 31/12/2024 Liabilities 31/12/2025 31/12/2024 * * Cash and Central banks 168.3 * 165.8 Central banks 0.2 * 1.4 Financial assets at fair value through profit or loss 654.4 607.5 Financial liabi
Slide 85: Legal risks
Appendices Legal Risks 85 FOURTH QUARTER AND FULL YEAR 2025 RESULTS
Slide 86: Legal risks
CRÉDIT AGRICOLE S.A. APPENDICES LEGAL RISKS In the normal course of business, Crédit Agricole S.A. is regularly subject to litigation proceedings, as well as requests for information, investigations, controls and other regulatory or judicial procedures from various institutions in France and abroad.
Slide 87: Legal risks – OFAC
CRÉDIT AGRICOLE S.A. APPENDICES LEGAL RISKS Office of Foreign Assets Control (OFAC) In October 2015, Crédit Agricole S.A. and its subsidiary Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB) reached agreements with the US and New York authorities that had been conducting investigat
Slide 88: Legal risks – Euribor/Libor and other indexes
CRÉDIT AGRICOLE S.A. APPENDICES LEGAL RISKS Euribor/Libor and other indexes Crédit Agricole Risques S.A. and its subsidiary Crédit Agricole CIB, in their capacity as contributors to a number of interbank rates, have received requests for information from a number of juridiques authorities as part of
Slide 89: Legal risks – O'Sullivan and Tavera
CRÉDIT AGRICOLE S.A. APPENDICES LEGAL RISKS O’Sullivan and Tavera On November 9, 2017, a group of individuals, (or their families or estates), who claimed to have been injured or killed in attacks in Iraq filed a complaint (“O’Sullivan I”) against several banks Risques juridiques including Crédit Ag
Slide 90: Legal risks – CACEIS Germany
CRÉDIT AGRICOLE S.A. APPENDICES LEGAL RISKS CACEIS Germany CACEIS Germany received from the Bavarian tax authorities on 30 April 2019 a claim for the repayment of the dividend tax refunded to a number of its customers in 2010. Risques juridiques This claim amounted to 312 million euros. It was accom
Slide 91: Legal risks – H2O unit-holders claim
CRÉDIT AGRICOLE S.A. APPENDICES LEGAL RISKS H2O unit-holders claim Risques juridiques On 20 and 26 December 2023, members of an association called “Collectif Porteurs H2O” summoned CACEIS Bank before the Paris Economic Activity Court alongside Natixis Investment Managers and KPMG Audit, in the conte
Slide 92: Legal risks – Dividend arbitration
CRÉDIT AGRICOLE S.A. APPENDICES LEGAL RISKS Dividend arbitration – Investigation conducted by the French National Financial Prosecutor’s Office Crédit Agricole CIB, like other banking institutions, was the subject of a preliminary investigation launched in early 2023 by the French National Financial
Slide 93: Binding agreements
CRÉDIT AGRICOLE S.A. APPENDICES LEGAL RISKS Binding agreements Crédit Agricole Risques S.A. does not depend on any industrial, commercial or financial patent, license or contract. juridiques 93 FOURTH QUARTER AND FULL YEAR 2025 RESULTS
Slide 94: Ratings
Appendices RATINGS 94 FOURTH QUARTER AND FULL YEAR 2025 RESULTS
Slide 95: Financial ratings
CRÉDIT AGRICOLE S.A. APPENDICES FINANCIAL RATINGS (1) Notations Crédit Agricole S.A. - Ratings LT / ST Issuer / LT senior Outlook / Issuer / ST senior Last review Ratings Rating action Counterparty preferred debt Review preferred debt date S&P Global LT / ST ratings affirmed; AA-/A-1+ (RCR) A+ Stabl
Slide 96: A well-diversified business model and sound financial management
CRÉDIT AGRICOLE GROUP APPENDICES 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 predi
Slide 97: Non-financial ratings
CRÉDIT AGRICOLE S.A. APPENDICES NON-FINANCIAL RATINGS Climate: Crédit Agricole S.A. rated A by CDP, 2 notches above sector average "Leader" AA CCC AAA Low risk 1 17.7 Severe risk (100) Negligible risk (0) "Prime" 2 C+ D- C+ … "Leadership" A D+ A 1. ESG risk score on a reverse scale (100-0): the lowe
Slide 98: List of contacts
LIST OF CONTACTS CRÉDIT AGRICOLE S.A. INVESTOR RELATIONS CONTACTS: CRÉDIT AGRICOLE PRESS CONTACTS: Institutional investors investor.relations@credit-agricole-sa.fr Alexandre Barat +33 1 57 72 12 19 alexandre.barat@credit-agricole-sa.fr Individual shareholders +33 800 000 777 relation@actionnaires.cr