Slide 1: Results for the First quarter 2026
Results for the First quarter 2026 Presentation to Investors & Analysts 29 April 2026
Slide 2: Disclaimer
Disclaimer This document does not constitute or form any part of an offer or invitation to sell, exchange, purchase or subscribe for, or a solicitation of an offer to purchase, exchange or subscribe for, any securities in any state or jurisdiction in which such an offer, solicitation or sale would b
Slide 3: Highlights
Highlights Nicolas Calcoen Deputy Chief Executive Officer 3 Amundi – Q1 2026 Results, 29 April 2026
Slide 4: Business and earnings growth driven by strategic priorities
Business and earnings growth driven by strategic priorities Dynamic activity Profit growth Invest for the future 2028 +€32bn – Very high level of activity – Net income2: €349m – Sustained activity and commercial in MLT assets1 : +€31bn +15% success in Clients and Solutions Q1 net inflows – Q1 earnin
Slide 5: Clients: strong growth across our strategic priorities
Clients: strong growth across our strategic priorities Retirement: mandates won and solutions Continued momentum launched, generating recurring flows with digital players Digital Retirement players 5 +€ bn net inflows 2 +€ bn Q1 2026 net inflows Q1 2026 5 Amundi – Q1 2026 Results, 29 April 2026
Slide 6: Solutions: strong net inflows and innovations
Solutions: strong net inflows and innovations ETFs Private assets Private Market share gains1 ETFs New multi-management mandate with CCR assets ETF-as-a-service: 2 new clients New active ETF: IG euro credit +€ 16bn Investments by CA Assurances +€3bn net inflows : regulatory approvals to increase the
Slide 7: Q1 2026 Activity
Q1 2026 Activity Aurélia Lecourtier Chief Financial Officer 7 Amundi – Q1 2026 Results, 29 April 2026
Slide 8: AuM: €2.4tn, up +7% year-on-year
AuM1: €2.4tn, up +7% year-on-year Q1 2026 Evolution of assets under management (AuM) 1 year-on-year (€bn) Net inflows +€88.5bn AuM1 +7% year-on-year, +1% in Q1 Market & Forex effect +€72.3bn +6.7% In Q1: Scope effect -€9.7bn +0.8% +32 - Strong net inflows +€32bn (>5% annualised) -14 - Negative marke
Slide 9: Net inflows +€32bn, mainly in MLT assets
Net inflows +€32bn, mainly in MLT1 assets Q1 2026 Net inflows2 (€bn) MLT1 inflows: +€31bn, 7% annualised MLT assets (*) Treasury products (*) Associates +€32.0bn Very high level of net inflows in +€31.1bn ETFs & index solutions +2.9 +€20.9bn Dynamic Active management in fixed +€20.4bn +3.1 income an
Slide 10: Solid performance of our funds
Solid performance of our funds Open-ended funds1: ~3/42 of AuM in the first two quartiles over 1, 3 and 5 years Outperformance vs. benchmark4 Morningstar Ranking of Funds by Assets Under Management 5 years 3 years 1 year 77% 74% 73% 76% 7% 9% 8% 1 year 15% 31% 17% 19% 44% 41% 71% 11% 28% 1st quartil
Slide 11: Net inflows by clients – high in all segments
Net inflows by clients – high in all segments Q1 2026 Net Inflows1,2 (€bn) Retail2 : highest quarter since 2022 Retail Institutionals CA & SG insurers Associates (*) - Record inflows in Third-Party +€32.0bn Distribution: +€22bn (23% annualised) +€31.1bn - UniCredit: outflows of -€9bn, +2.9 +3.1 +€20
Slide 12: Q1 2026 Results
Q1 2026 Results Aurélia Lecourtier Chief Financial Officer 12 Amundi – Q1 2026 Results, 29 April 2026
Slide 13: Revenues – strong YoY growth in business-related revenues
Revenues – strong YoY* growth in business-related revenues Q1 2026 Adjusted net revenue1 (€m) Net AM revenues: +14% Q1/Q1* +9.7% - Management fees: +6% Q1/Q1*, 902 thanks to dynamic net inflows 899 18 3 - Very high performance fees 823 815 35 31 790 6 87 37 82 Technology +21% Q1/Q1 26 12 33 29 23 26
Slide 14: Controlled costs and continued investment
Controlled costs and continued investment Q1 2026 Adjusted operating expenses1 (€m) Costs1 controlled in a high level of activity +9.5% Continued investments 455 450 436 Cost/income ratio1 at 50% 416 417 52.7% 53.5% 50.6% 50.1% 50.4% Q1 2025* Q2 2025 Q3 2025 Q4 2025 Q1 2026 Operating expenses - Adju
Slide 15: Earnings per share €1.69, up +15% YoY
Earnings per share1 €1.69, up +15% YoY Q1 2026 Adjusted net income1 (€m) Gross operating income1: +10% Q1/Q1* +15.2% Contribution from associates1 up + 33% 376 349 - Asian JVs up +4% Q1/Q1, growth hit by the 334 340 35 decline in the rupee (+19% Q1/Q1 at constant 303 26 33 36 37 rupee) 22 38 34 29 2
Slide 16: ICG: earnings consolidation to begin in Q2 2026
: earnings consolidation1 to begin in Q2 2026 18 Nov 2025 Q2 2026 31 March 2026 Partnership First Appointment announcement, consolidation1 of of a director acquisition of ICG earnings + consolidation1 a 4.64% stake 18 February 2026: Increase in stake via ICG’s issuance2 of non- final regulatory appr
Slide 17: Conclusion
Conclusion Nicolas Calcoen Deputy Chief Executive Officer 17 Amundi – Q1 2026 Results, 29 April 2026
Slide 18: Conclusion
Conclusion ▪ Strong business momentum across all client segments, asset classes and geographies Very high ⁃ Driven in particular by all the strategic priorities of “Invest for the future 2028” levels of activity ▪ Net income1 and EPS1 up sharply, close to all-time highs +15% EPS & results ▪ 29%2 of
Slide 19: Appendices
Appendices 19 Amundi – Q1 2026 Results, 29 April 2026
Slide 20: Diversified AuM by clients, asset classes & geographies
Diversified AuM by clients, asset classes & geographies Comprehensive range Large client base by asset classes Global footprint ETFs & Index Solutions 23% Rest of the Associates Equities world Associates €2,398bn 17% 9% 6% Treasury 17% Multi- Retail Asia AuM1as of products assets 34% 19% France 7% 1
Slide 21: First quarter 2026 adjusted income statement
First quarter 2026 adjusted income statement1 % ch. % ch. (€m) Q1 2026 Q1 2025* Q1/Q1* Q4 2025 Q1/Q4 Net revenue - Adjusted 902 823 +9,7% 899 +0,4% Net management fees 782 737 +6,1% 763 +2,4% Performance fees 87 23 NM 82 +5,2% Technology 31 26 +20,7% 35 -12,7% Net financial income & other net income
Slide 22: Explanations of pro forma data
Explanations of pro forma data - Amundi US contrib. Q1 2025 % YoY ch. (€m) Q1 2026 Q1 2025 Q1 2025 pro forma % YoY ch. pro forma Q4 2025 % QoQ ch. Net management fees 782 824 88 737 -5.2% +6.1% 763 +2.4% Performance fees 87 23 0 23 NM NM 82 +5.2% Net asset management revenues 869 847 88 760 +2.5% +1
Slide 23: Rising markets over one year despite March downturn
Rising markets over one year despite March downturn Q1 2026 Equity and bond markets, Q2 2024 to Q1 2026 150 Over one year, equity and fixed income Base 100 = Average 2021 145 markets rose (quarterly averages): 140 Equities1: +17% Q1/Q1 and +3% Q1/Q4 135 50% MSCI ACWI / 50% Eurostoxx Bloomberg Euro A
Slide 24: European open-ended fund market +€239bn despite outflows in March
European open-ended fund market +€239bn despite outflows in March Q1 2026 Net inflows on the European market (open-ended funds), from 2022 to Q1 2026 (€bn) Recovery in passive net inflows (+€117bn) Treasury products MLT Assets / Passive management driven by ETFs (+€99bn) MLT Assets / Active manageme
Slide 25: Assets under management & flows – Client segments & geographic areas
Assets under management & flows1,2 – Client segments & geographic areas AuM AuM % ch. Inflows Inflows (€bn) 31.03.2026 31.03.2025 /31.03.2025 Q1 2026 Q1 2025 Retail 812 795 +2.2% +13.2 +4.8 Institutionals (*) 709 660 +7.4% +8.7 +19.8 CA & SG insurers 465 430 +8.0% +7.0 +3.6 Associates 413 362 +14.0%
Slide 26: Assets under management & flows – Types of management & asset classes
Assets under management & flows1 – Types of management & asset classes AuM AuM % ch. Inflows Inflows (€bn) 31.03.2026 31.03.2025 /31.03.2025 Q1 2026 Q1 2025 Active management 1,159 1,149 +0.9% +6.8 +6.3 Equities 205 204 +0.3% -2.3 -3.9 Multi-assets 277 260 +6.6% +1.8 -1.0 Bonds 678 685 -1.1% +7.3 +1
Slide 27: Methodology & Alternative Performance Measures (APMs) (1/2)
Methodology & Alternative Performance Measures (APMs) (1/2) Amundi has chosen to present adjusted accounting data for certain income items (net revenues, The aggregate amounts of these items for the different periods under review are as follows: general operating expenses, share of net income from a
Slide 28: Methodology & Alternative Performance Measures (APMs) (2/2)
Methodology & Alternative Performance Measures (APMs) (2/2) % ch. % ch. % ch. % ch. (€m) Q1 2026 Q1 2025* Q1/Q1* Q4 2025 Q1/Q4 (€m) Q1 2026 Q1 2025* Q1/Q1* Q4 2025 Q1/Q4 Gross operating income (e)=(a)+(c) 357 384 -6.9% 411 -13.1% Net management fees 782 737 +6.1% 763 +2.4% Gross operating income - A
Slide 29: Shareholding
Shareholding 31 March 2026 31 December 2025 31 March 2025 Number % of share Number % of share Number % of share (units) of shares capital of shares capital of shares capital Crédit Agricole Group 141,057,399 68.35% 141,057,399 68.35% 141,057,399 68.67% Employees 4,749,716 2.30% 4,990,841 2.42% 4,128
Slide 30: Contacts & Calendar
Contacts & Calendar Investors & Analysts Calendar Cyril Meilland, CFA Head of Investor Relations cyril.meilland@amundi.com Phone: +33 1 76 32 62 67 Shareholders’ Meeting: Tuesday 2 June 2026 Mobile: +33 6 35 49 42 69 2025 dividend: ex-dividend date 9 June 2026, payment date from 11 June 2026 Thomas