Bnp Paribas S.a. Class A · EURONEXT:BNP
Bnp Paribas S.a. Class A — Bnp Paribas Ord — Q1 2024 Earnings Presentation
28 slides from Bnp Paribas S.a. Class A's earnings presentation, Apr 25, 2024
Slide 1: First Quarter 2024 Results
% FIRST QUARTER 2024 RESULTS 25 AP! ‘ A« an BNP PARIBAS The bank for a changing world
Slide 2: Disclaimer
— DISCLAIMER The figures included in this presentation are unaudited. As a reminder, on 29 February 2024 BNP Paribas reported restated quarterly series for 2023 to reflect, in particular, the end of the build-up of the Single Resolution Fund (SRF), effective 1 January 2024, and the assumption of a s
Slide 3: 1Q 2024: BNP Paribas achieves very high Net Income of €3.1bn
— ]5' QUARTER 2024 | BNP Paribas achieves very high Net Income of €3.1bn Chg. vs. 1923+ 1924 (€m) distributable + Stable revenues driven by very solid business performances within each operating division, offsetting a high 1923 base effect at Global Markets. _ — Revenues 12,483 -0.4% Excluding this
Slide 4: 2024 Guidance: BNP Paribas confirms its 2024 trajectory
—?0?4 GUIDANCE | On the strength of its 1Q24 results, BNP Paribas confirms its 2024 trajectory I 2 3 d 2024 Revenues 2024 Jaws effect! 2024 Cost of risk 2024 Net Income? Growth > +2% Positive < 40 bps > vs. 2023 distributable Revenues? oo. P (€46.9bn) 2023 distributable Net Income (€11.2bn) — 2024 h
Slide 5: 1Q24 Group results
1Q24 Group results SECTION 1 a BNP PARIBAS The bank for a changing world First quarter 2024 results | 5
Slide 6: P&L Statement: Very solid operating performances
— P&L STATEMENT | Very solid operating performances 1923 Chg. vs. 1923 (€m 1Q24 1Q23 J _ (distributable)' e distributable Net Banking Income (NBI) 12,483 12,534 12,032 -0.4% Operating expenses -7,937 -8,058 -9,191 -15% o/w IFRIC21 taxes -688 -779 -1601 -11.7% Gross Operating Income 4,546 4,476 2,841
Slide 7: Exceptional items: Active portfolio management and hyperinflation impacts in Turkiye
— FYCEPTIONAL ITEMS | Active portfolio management and impacts of the hyperinflation situation in Turkiye 1923 ( (€m) nye (distributable)" Restructuring costs and adaptation costs (Corporate Centre) -29 -30 IT reinforcement costs (Corporate Centre) -74 -95 Total exceptional operating expenses -103 -1
Slide 8: Revenues: 1Q24 illustrates the strength of the diversified model
— PFVENUES | 1Q24 illustrates the business performances and strength of the diversified model —Group? €12, Fee > a a 1923 1924 Mice cpBs? fips ccs — Corporate & Institutional Banking 4,873 4,677 1923-1924 €m — Commercial, Personal Banking & Services* Commercial & Specialised Personal Businesses Bank
Slide 9: Operating efficiency: Operating expenses under control
— (PERATING EFFICIENCY | Operating expenses under control in an inflationary environment — Group? €8, km €7,937m aa _ ia 1923 1924 Jaws effect +1.1 pt Cost income 63.6% ici cPBS2 ps cc — Corporate & Institutional Banking B, 2,882 PWyZnn 1023 1924 — Commercial, Personal Banking & Services? Commercial
Slide 10: Operating efficiency: €400m additional measures to pay off in 2024
OPERATING EFFICIENCY | the €400m additional measures will begin paying off in 2924 — Cost savings (€bn) © Mutualisation (nearshoring / offshoring) ¢ Automation / Robotisation / Digitalisation ¢ Acceleration of the roll-out of cloud platforms and artificial intelligence use cases © Optimisation and f
Slide 11: Cost of risk: The level of risk remains low (1/2)
— COST OF RISK | The level of risk remains low throughout the cycle (1/2) — Cost of risk / GOI, 2018-2025e — Cost of risk? / 1924 loans outstanding: 29 bps * Cost of risk still low and below 40 bps + Cost of risk’: €640m (€592m in 1923) 38.6% * Release of provisions on performing loans (stages 1 & 2
Slide 12: Cost of risk: The level of risk remains low (2/2)
— COST OF RISK | The level of risk remains low throughout the cycle (2/2) Cost of risk! / Customer loans outstanding at the beginning of the period (in bps) — CPBF 26 25 a 2 B 20 20 2021 20222023 © 1923292339234923 1924 — BNL 62 58 53 49 41 51 72 39 2021 2022 2023 1923 2Q23 39234923 1924 — _ Global
Slide 13: Insurance, Mobility, Payments
• • • ⎯ • Insurance • • • • Mobility • • Payments • • Others • •
Slide 14: Financial structure: A solid financial structure
— FINANCIAL STRUCTURE | A solid financial structure CET1 31.03.24 — Change of CET1 ratio between 31 Dec. 23 and 31 March 24 +30 bps Motes sos -15 pbs CETL Organic Distribution BW Reinvestment Model update 31.12.23 eA and others CET1 ratio: 13.1% as at 31.03.24 Leverage ratio! : 4.4% as at 31.03.24 H
Slide 15: CIB, CPBS, IPS ESG
⎯ ⎯ • CIB Corporate Sustainability Assessment (CSA) • CPBS ⎯ • • • IPS •
Slide 16: Operating divisions
OPERATING DIVISIONS SECTION 2 a BNP PARIBAS The bank for a changing world First quarter 2024 results | 16
Slide 17: CIB results 1Q24
CIB (€m) 1Q24 1Q23 Chg. • Revenues 4,677 4,873 -4.0% • Operating expenses -2,741 -2,882 -4.9% Gross operating income 1,936 1,990 -2.7% • Cost of risk & other provisions 95 -1 n.s. Others 3 -3 n.s. Pre-tax income 2,033 1,986 +2.4% ⎯ Cost-income ratio 58.6% 59.1% • • ⎯ • • ⎯ ⎯ • ⎯ •
Slide 18: CIB FICC: A platform well-positioned to capture future market growth
— (IB | FICC: A platform well-positioned to capture future market growth — EMEA (which accounts for 1/3 of the global —_ Market share gains (an upward catalyst accounting for ~60%* of 1Q21- industry pool) was the region most impacted by the 1Q23 revenue growth and downward protection in 2023) and th
Slide 19: CPBS results 1Q24
CPBS1 (€m) 1Q24 1Q23 Chg. • Revenues 6,692 6,666 +0.4% • Operating expenses -4,482 -4,348 +3.1% Gross operating income 2,210 2.318 -4.7% Cost of risk & other provisions -726 -600 +21.0% ⎯ Others 110 102 +7.8% Result attributable to WAM -78 -68 +13.9% • Pre-tax income 1,517 1,753 -13.5% Cost income 6
Slide 20: CPBS: Strengthened leadership in payments and cash management
__ (PBS 018 — __ Strengthened leadership #1 Cash Management in Europe 2024 Greenwich Leaders: European Large Corporate! Fi ovrparanas 51% Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 28% 2009 2011 2013 2015 2017 2019 2021 2023 Issuing & Acquiring Pan-European coverage spanning 25 countries Issuing and acquiri
Slide 21: IPS results 1Q24
Chg. • IPS (€m) 1Q24 1Q23 Chg. excluding RE and PI • Revenues 1,420 1,409 + 0.8% +4.2% • Operating expenses -883 -884 -0.1% +0.3% Gross operating income 537 525 +2.2% +9.7% ⎯ Cost of risk & other provisions -4 -1 n.s. n.s. • Others 40 68 -40.3% -23.5% Pre-tax income 573 592 -3.2% +5.6% • Cost income
Slide 22: IPS: Global assets under management of €1,283bn
— |PS | Global assets under management: €1,283bn, driven by market performance effects and net inflows — Change in assets under management? C3 8% v 4273 42.2 -0.2 Net asset inflows h f \ 47.2 +0.2 1,236 \ \ €bn Market Exchange performance rate effect effect 31.12.23 Insurance WM AM RE Other 31.03.24
Slide 23: A reinforced internal control set-up
— A REINFORCED INTERNAL CONTROL SEFUP — _ Aneven more solid control and compliance set-up and ongoing efforts in inserting a reinforced compliance culture into daily operations Ongoing improvement of the operating model for combating money laundering and terrorism financing: + A standards-based, ris
Slide 24: Conclusion
— CONCLUSION On the strength of its diversified, integrated and at-scale model, BNP Paribas achieved a very good first quarter 2024, driven by a solid operational performance The 2024 trajectory is confirmed ESG rankings and ratings confirm BNP Paribas’ ongoing commitment to the energy transition Th
Slide 25: Notes (1/2)
_— NOTES (1/2) Slide 3 1.Restatement of quarterly series reported on 29 February 2024. Results serving as a basis for calculating the distribution in 2023 and reflecting the Group’s intrinsic performance post impact of the Bank of the West sale and post ramp-up of the Single Resolution Fund (SRF) ex
Slide 26: Notes (2/2)
___ NOTES (2/2) Slide 11 1. GOI: Excluding exceptional items, excluding contribution of Bank of the West and 2023 distributable base to reflect the Group's intrinsic performance post impact of the divestment of Bank of the West and post SRF build-up; application of IFRS 17 and IFRS 5 effective 2022
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Slide 28: Contacts and Upcoming Events
— CONTACTS AND UPCOMING EVENTS — Investor Relations and Financial Information Bénédicte Thibord, Head of Investor Relations and Financial Information Equity Raphaélle Bouvier-Flory Lisa Bugat Didier Leblanc Olivier Parenty Debt & Rating agencies Didier Leblanc Olivier Parenty Retail and ESG Patrice