Amundi : 20 - 2025 Corporate Governance report

About this update from Amundi Sa

CORPORATE GOVERNANCE ▌ A RESPONSIBLE AND COMMITTED BOARD OF DIRECTORS 36 ▌ AN EXPERIENCED SENIOR MANAGEMENT TEAM 37 ▌ AN EXECUTIVE COMMITTEE DEDICATED TO REALISING OUR STRATEGY 38 ▌ PREAMBLE 40 ▌ 2.1 THE BOARD OF DIRECTORS AND ITS COMMITTEES 41 Overview of the Board of Directors, 41 role and operation Activities of the Board of Directors in 2025 51 Overview of the specialised committees 53 and their activities in 2025 ▌ 2.2 INDIVIDUAL PRESENTATION OF THE DIRECTORS 64 ▌ 2.3 EXECUTIVE COMPANY OFFICERS AND GROUP MANAGEMENT BODIES 76 The Chairman of the Board and his duties 76 Executive directors and their powers 76 Individual information on the Executive Corporate 77 Officers The Group's Management Bodies 80 ▌ 2.4 COMPENSATION 82 General principles applicable to the compensation of all Amundi employees and senior executives Compensation for "identified staff" (AIFM / UCITS V, IFD and CRD V) Compensation of Amundi Company Officers in 2025 Compensation policy for Amundi Company Officers for the 2026 financial year 84 88 95 120 2 CORPORATE GOVERNANCE A responsible and committed Board of Directors ‌A responsible and committed Board of Directors The Board of Directors determines the strategic guidelines for Amundi's business and oversees their implementation by the Senior Management. OLIVIER GAVALDA Chairman of the Board of Directors since 2025 Chief Executive Officer of Crédit Agricole S.A. 41.7 % INDEPENDENT DIRECTORS (1) 50 % 50 % 57.5 years WOMEN (1) MEN (1) AVERAGE AGE (1) Not including the employee-elected director. In the absence of regulatory constraints, non-voting directors are not included in the calculations. PIERRE CAMBEFORT VIRGINIE CAYATTE LAURENCE DANON-ARNAUD PATRICE GENTIÉ Director since 2025 Independent Independent Director since 2021 Chief Executive Officer Director since 2015 Director since 2015 Chairman of Caisse Régionale of Caisse Régionale Nord Midi-Pyrénées du Crédit Agricole d'Aquitaine GÉRALD GRÉGOIRE MICHÈLE GUIBERT CLOTILDE L'ANGEVIN NICOLAS MAURÉ Director since 2024 Director since 2020 Director since 2025 Director since 2025 Deputy Chief Executive Chief Executive Officer Deputy Chief Executive Officer Chairman of the Caisse Officer of Crédit Agricole of Caisse Régionale du of Crédit Agricole S.A., in Régionale du Crédit Agricole S.A., in charge of the Customer, Development and Innovation division Crédit Agricole des Côtes d'Armor charge of Finance and Steering Toulouse 31 JEAN-CHRISTOPHE HÉLÈNE MOLINARI NATHALIE WRIGHT JOSEPH OUEDRAOGO MIESZALA Independent Director Independent Director Director elected by Independent Director since 2025 since 2015 since 2022 the employees since 2022 Head of Investment Risk business team, Amundi Asset Management. AT 31/12/2025 2 CORPORATE GOVERNANCE An experienced Senior Management team ‌An experienced Senior Management team The General Executive Committee is involved in all major business, organisational and human resources management decisions. It ensures coordination between Amundi's main business lines, sets priorities and makes the main governance decisions for the Group. NICOLAS CALCOEN Deputy Chief Executive Officer, Head of Strategy, Finance and Control VALÉRIE BAUDSON Chief Executive Officer 13 MEMBERS 38.5 % WOMEN JEAN-JACQUES BARBÉRIS Head of Institutional and Corporate Clients and ESG CÉLINE BOYER-CHAMMARD Head of Sustainable Transformation and Organisation DOMINIQUE CARREL-BILLIARD Head of Real and Alternative Assets, Supervision of North America GUILLAUME LESAGE Chief Operating Officer OLIVIER MARIÉE Head of International Partner Networks and Joint Ventures VINCENT MORTIER Chief Investment Officer ISABELLE SENÉTERRE Head of Human Resources CINZIA TAGLIABUE Head of Italy BENOÎT TASSOU Head of French Partner Networks ÉRIC VANDAMME Chief Risk Officer FANNIE WURTZ Head of the Distribution & Wealth Division and ETF & Passive business lines -Supervision of Asia AT 31/12/2025 2 CORPORATE GOVERNANCE An Executive Committee dedicated to realising our strategy ‌An Executive Committee dedicated to realising our strategy GIORGIO GRETTER Head of Strategy BARRY GLAVIN CIO Equities KATSUMI FUJIKAWA Head of Japan CHRISTINE GENTIL Head of Transversal and Organisational Projects NATACHA ANDERMAHR Head of Communication DAVID HARTE Head of Ireland and Deputy Chief Operating Officer ERIC BRAMOULLÉ Head of UK ALICE DE BAZIN Chief Executive Officer of CPRAM THIERRY ANCONA Head of Sales -Distribution, Wealth and ETF JULIEN FONTAINE Head of Partnerships and Joint Ventures supervision JEANNE DUVOUX Head of Business Support & Operations GAËTAN DELCULÉE Deputy Head of Sales of Distribution, Wealth and ETF MONICA DEFEND Head of the Amundi Investment Institute GILLES CUTAYA Head of Marketing and Products CLAIRE CORNIL Chief Executive Officer of Société Générale Gestion FRANCESCA CICERI Head of Institutional Clients Sales + Members of the General Executive Committee The Executive Committee ensures the strategy is coherently and e$ciently deployed in all countries where the Amundi group is present. 2 CORPORATE GOVERNANCE An Executive Committee dedicated to realising our strategy The Committee, which includes the heads of the main countries, monitors business development and ensures the right balance is struck between the Amundi Group's global orientations and their implementation at local level. ELODIE LAUGEL Chief Responsible Investment Officer AURÉLIA LECOURTIER Chief Financial Officer ALEXANDRE LEFEBVRE Deputy Head of Real Assets and Alternatives CATHERINE LEROY Head of Employee Savings and Retirement BENJAMIN LUCAS Head of Amundi Technology MARTA MARIN Head of Amundi Iberia ADRIENNE MEUNIER Head of People Development and Senior Executives Career Support MARC NOËL Head of Compliance PHILIPPE D'ORGEVAL Deputy Chief Investment Officer AMAURY D'ORSAY Head of Fixed Income and Money Market JOHN O'TOOLE CIO Multi-Asset Solutions CHRISTIAN PELLIS Head of Germany DOROTHÉE PIREL Head of Internal Audit FRANCESCO SANDRINI CIO Multi-Asset Strategies BENOIT SOREL Head of ETF and Indexing GABRIELE TAVAZZANI Head of Joint Ventures Business Development 47 39.1 % MEMBERS OF EXECUTIVE COMMITTEE MEMBERS ARE WOMEN (1) (1) The rate of 39.1% corresponds to the gender diversity rate of the Executive Committee as of December 31, 2025. The above presentation includes an appointment that took place after this date. EDDY WONG Chief Executive Officer of Asia XIAOFENG ZHONG Vice-Chairman of Asia AT 31/12/2025 2 CORPORATE GOVERNANCE Preamble ‌Preamble The 2025 financial year Dear shareholders, In accordance with the provisions of Articles L. 225-37 and L. 22-10-10 of the French Commercial Code and in addition to the management report, we present our annual Corporate Governance report, essentially drawn up as follows: preparation by the Secretariat of the Board of Directors of the elements relating to the presentation of the governance and the work of the Board of Directors and its committees conducted in 2025; preparation by the Appointments Committee of the items relating to the analysis of the workings of the Board, its composition, diversity policy, and the individual contributions of the directors, in line with AMF and AFEP-MEDEF recommendations and financial and banking regulations; analysis of compliance with the recommendations from the AFEP-MEDEF Code and the proper application of the procedure on current agreements and related-party agreements; the Compensation Committee and the Board of Directors prepared items on compensation policy and the breakdown of items of compensation of Executive Corporate Officers and Board members. This report was approved by the Board of Directors during its meeting of 10 March 2026. The purpose of it is to present the highlights of the Company's corporate governance, which is structured around the Company's Board of Directors assisted by its specialised committees (2.1). Individual information on the members of the Board of Directors will also be presented, including a list of all their offices and positions held in any company during the financial year (2.2), as well as information on the executive corporate officers, assisted in their roles by the internal management bodies (2.3). In accordance with Articles L. 22-10-8 and L. 22-10-9 of the French Commercial Code, this report on corporate governance also sets out in a clear and understandable way the compensation policy for Corporate Officers and the compensation items relating to the 2025 financial year (2.4). The main features of the internal control and risk management procedures put in place by the Company relating to the preparation and processing of accounting and financial information are presented in Chapter 5 of this 2025 Universal Registration Document. Finally, Chapter 8 of the Universal Registration Document presents the information stipulated by Articles L. 225-37-4, L. 22-10-10 5° and L. 22-10-11 of the French Commercial Code, which primarily consist of: a summary table of delegations in the process of validation granted by the General Shareholders' Meeting with regard to capital increases, showing the use made of these delegations during the financial year; and the procedures for the participation of shareholders in the General Shareholders' Meeting. ‌The Board of Directors and its Committees‌ Overview of the Board of Directors, role and operation Overview Overview of developments in 2025 In 2025, there were a number of changes in the composition of the Board of Directors and its specialised Committees. Olivier Gavalda, the new Chief Executive Officer of Crédit Agricole S.A., was appointed Chairman of the Board, replacing Philippe Brassac, following the General Shareholders' Meeting of 27 May 2025. The Board also initiated a transition with a view to the forthcoming replacement of the four independent directors who were all appointed in 2015, at the time of the Company's IPO. A first step was taken at the 2025 General Meeting, with the appointment of Jean-Christophe Mieszala to succeed Robert Leblanc , whose term of office was coming to an end. At the same time, the term of office of Virginie Cayatte was renewed , it being specified that she undertook in advance to resign before the new expiry of her term of office and no later than in November 2027, on which date she would lose her status as independent. This decision to replace one independent director out of two as their terms of office expire will enable the appointment of new independent directors to take place over time, thus ensuring a smooth transition at the Board level. Christine Grillet resigned as Director, and the Board of Directors, meeting at the end of the Shareholders' General Meeting, co-opted Nicolas Mauré , until then a non-voting director, to replace her. This co-option ended his role as a non-voting director, which he had held since 2023. In July 2025, Christian Rouchon , a long-standing Director of Amundi, resigned owing to his retirement. Bénédicte Chrétien also resigned as a Director due to her appointment to the Executive Management of CFM Indosuez Wealth Management. To replace them, in October 2025 the Board of Directors decided to co-opt Pierre Cambefort, Chief Executive Officer of Caisse Régionale Nord Midi-Pyrénées and Clotilde L'Angevin, Deputy Chief Executive Officer of Crédit Agricole S.A., in charge of Finance and Steering. As a result of these many changes, the composition of the five specialised Committees has also changed. The table below summarises these changes. Table of changes in the composition of the Board of Directors and the Committees during the financial year Name Office in the Company Renewal Departure New Philippe Brassac Chairman of the Board and member of the Strategy and CSR Committee 27/05/2025 Robert Leblanc Director, Chair of the Compensation Committee, member of the Appointments Committee and the Audit Committee 27/05/2025 Olivier Gavalda Chairman of the Board and member of the Strategy and CSR Committee 27/05/2025 Jean-Christophe Mieszala Director, member of the Appointments Committee, the Compensation Committee and the Strategy and CSR Committee 27/05/2025 Member of the Risk Management Committee 28/07/2025 Christine Grillet Director 27/05/2025 Nicolas Mauré Non-voting member 27/05/2025 Director 27/05/2025 Member of the Appointments Committee 28/07/2025 Laurence Danon-Arnaud Member of the Compensation Committee 27/05/2025 Chair of the Compensation Committee 27/05/2025 Christian Rouchon Director, Chair of the Risk Committee and of the Audit Committee 28/07/2025 Virginie Cayatte Director 27/05/2025 Member of the Audit Committee 28/07/2025 Chair of the Audit Committee 28/07/2025 Name Office in the Company Renewal Departure New Michèle Guibert Member of the Risk Management Committee 28/07/2025 Chair of the Risk Management Committee and member of the Audit Committee 28/07/2025 Bénédicte Chrétien Director, member of the Appointments Committee and the Compensation Committee 27/05/2025 28/07/2025 Pierre Cambefort Director 27/10/2025 Clotilde L'Angevin Director, Member of the Compensation Committee 27/10/2025 Thus, at 31 December 2025, and as described in the summary tables below, the Board comprised 13 directors, 6 women and 7 men, including 5 independent directors and 1 director elected by the employees. Summary table as at 31 December 2025 Age Gender Nationality Number of offices in listed companies Number of shares held Term of office Start of 1 st term End of current term Years of presence on the Board Olivier Gavalda 62 M French 2 200 2025 2028 AGM 7 months (1) Pierre Cambefort 61 M French 2 200 2025 2026 AGM 2 months (2) Patrice Gentié 62 M French 1 200 2021 2027 AGM 4 Gérald Grégoire 51 M French 1 200 2024 2027 AGM 1 year Michèle Guibert 58 F French 1 200 2020 2027 AGM 5 Clotilde L'Angevin 47 F French 1 200 2025 2028 AGM 2 months (3) Nicolas Mauré 49 M French 1 200 2025 2026 AGM 7 months (4) CHAIRMAN OF THE BOARD OF DIRECTORS DIRECTORS INDEPENDENT DIRECTORS Virginie Cayatte 55 F French 1 250 2015 2028 AGM (5) 10 Laurence Danon-Arnaud 69 F French 3 480 2015 2026 AGM 10 Jean-Christophe Mieszala 60 M French 1 200 2025 2028 AGM 7 months (6) Hélène Molinari 62 F French 2 200 2015 2026 AGM 10 Nathalie Wright 61 F French 2 200 2022 2027 AGM 3 DIRECTOR ELECTED BY THE EMPLOYEES Joseph Ouedraogo 50 M French 1 642,9371 Amundi Actionnariat employee savings fund (7) 2022 Election before 2028 AGM 3 Olivier Gavalda was appointed Director, then Chairman of the Board of Directors on 27 May 2025. Pierre Cambefort was co-opted at the meeting of the Board of Directors on 27 October 2025. Clotilde L'Angevin was co-opted at the Board of Directors' meeting of 27 October 2025. Nicolas Mauré was co-opted at the Board of Directors' meeting on 27 May 2025. Previously, he was a non-voting director (from 2023). Virginie Cayatte has undertaken to resign as a Director before the expiry of her term of office and no later than November 2027, on which date she would no longer be considered as independent within the meaning of the AFEP-MEDEF Code. Jean-Christophe Mieszala was appointed a Director on 27 May 2025. The Director elected by the employees is not required to hold shares of the Company. Participation and attendance at the meetings of the specialised Board Committees (including a written consultation of the Appointments Committee) Board of Directors Audit Committee Risk Management Strategy and CSR Committee Committee Compensation Committee Appointments Committee Attendance rate at Board meetings NON-EXECUTIVE CORPORATE OFFICER Philippe Brassac (1) ✔ Chairman of the Board of Directors 100% 100% Olivier Gavalda (2 ) ✔ Chairman of the Board of Directors 100% 100% DIRECTORS Pierre Cambefort (3) 100% Bénédicte Chrétien (4) ✔ 100% ✔ 67% 100% Patrice Gentié 100% Gérald Grégoire 86% Christine Grillet (5) 100% Michèle Guibert (6) ✔ 100% ✔ Chair 100% ✔ 50% (14) 71% Clotilde L'Angevin (7) ✔ 100% 100% Robert Leblanc (8) ✔ 100% ✔ Chair 100% ✔ 100% 100% Nicolas Mauré (9) 100% Christian Rouchon (10) ✔ Chair 100% ✔ Chair 100% 100% INDEPENDENT DIRECTORS Virginie Cayatte (11) ✔ Chair 100% ✔ 75% (15) ✔ 100% 86% Laurence Danon-Arnaud (12) ✔ Chair 100% ✔ Chair 100% 86% Jean-Christophe Mieszala (13) ✔ 100% ✔ 100% ✔ 100% ✔ 100% 100% Hélène Molinari ✔ Chair 100% 100% Nathalie Wright ✔ 100% ✔ 100% 100% DIRECTOR ELECTED BY THE EMPLOYEES Joseph Ouedraogo 100% Philippe Brassac's term of office expired at the end of the Shareholders' General Meeting of 27 May 2025. Olivier Gavalda was appointed as Director, then Chairman of the Board of Directors and member of the Strategy and CSR Committee, on 27 May 2025. Pierre Cambefort was co-opted at the meeting of the Board of Directors on 27 October 2025. Bénédicte Chrétien resigned at the end of the Board of Directors meeting of 28 July 2025. Christine Grillet resigned following the Shareholders' General Meeting of 27 May 2025. Michèle Guibert became a member of the Audit Committee and Chair of the Risk Committee on 28 July 2025. Clotilde L'Angevin was co-opted at the Board of Directors' meeting of 27 October 2025. She was also appointed as a member of the Compensation Committee. Robert Leblanc's term of office expired at the end of the Shareholders' General Meeting of 27 May 2025. Nicolas Mauré was co-opted at the Board of Directors' meeting on 27 May 2025. Previously, he was a non-voting director (from 2023). He was also appointed a member of the Appointments Committee on 28 July 2025. No meeting of the Appointments Committee took place between this date and 31 December 2025. Christian Rouchon resigned at the end of the Board of Directors meeting of 28 July 2025. Virginie Cayatte became Chair of the Audit Committee on 28 July 2025. Laurence Danon-Arnaud became Chair of the Compensation Committee on 27 May 2025. Jean-Christophe Mieszala was appointed as a Director, then a member of the Strategy and CSR Committee, the Compensation Committee and the Appointments Committee, on 27 May 2025. He was subsequently appointed as a member of the Risk Committee on 28 July 2025. Michèle Guibert was absent from the Risk Committee meetings of 30 January and 24 April 2025. Since becoming Chair of the Committee, she has been present at all meetings. Virginie Cayatte was absent from the Audit Committee meeting of 28 April 2025. Since becoming Chair of the Committee, she has been present at all meetings. Changes after the 2025 financial year The Board of Directors decided, on the recommendation of its Appointments Committee, to submit to the General Shareholders' Meeting of June 2026: the ratification of the appointment by co-option of Pierre Cambefort, Clotilde L'Angevin and Nicolas Mauré ; the renewal for three years of the terms of office of Pierre Cambefort, Laurence Danon-Arnaud (1) and Nicolas Mauré ; and the appointment of Dominique Potiron to succeed Hélène Molinari. With nearly 30 years of professional experience, Dominique Potiron is very familiar with the financial sector in general, and particularly its human challenges. Specialized in Human Ressources, the recruitment of corporate officers, and the support of boards of directors of financial institutions, Dominique Potiron could bring her expertise in the areas of governance and compensation. The Board of Directors also decided, subject to the approval of this appointment by the Shareholders' General Meeting, to appoint Dominique Potiron as Chairman of the Appointments Committee and as a member of the Compensation Committee. The Directors appointed by the General Shareholders' Meeting The Board of Directors ensures the collective balance and diversity of the members comprising it, in view of the challenges Amundi faces. It also ensures that everyone adheres to the company's fundamental values. These principles govern its diversity policy based in particular on multiple skills, cultures and a principle of diversity. Plurality of skills Each director self-assesses the skills that are specific to themselves and which appear in section 2.2 "Individual presentation of the directors". In addition, in accordance with banking regulations, each director is subject to a thorough review of their profile by the European Central Bank (ECB) upon appointment. The good repute, availability and skills are therefore carefully analysed beforehand by the Appointments Committee, so that the individual skills of the selected candidate correspond to the collective need of the Board. To identify the expertise that the Board needs to function properly, the Appointments Committee first brought in the knowledge and experience recommended by the European banking authorities, and has added an ongoing requirement for skills in the fields of asset management and social and environmental issues. It has therefore defined a target matrix in line with its needs. The Appointments Committee strives to preserve this overall balance as it analyses and recommends candidates to the Board. To this end, it ensures that each of the themes in the skills matrix retains a satisfactory level of representation. It ensures that the skills of directors are strengthened while in post by ensuring that appropriate training sessions are organised by the Company. In 2025, the Appointments Committee ensured that the new appointments that took place during the year were made in line with the skills needed by the Board. As a result, at 31 December 2025, all skills were maintained or strengthened within the Board , in particular strategic planning, sales/marketing, risk management/compliance/ internal audit, and ESG. With regard more specifically to environmental, social and governance issues, it should be noted that since 2023 and in line with the commitments made through its "Say On Climate" initiative, a majority of the members of the Board of Directors have strengthened their skills in this area. As a result, 92.31% of directors considered ESG to be one of their areas of expertise at the end of 2025. For each of the E, S and G themes that this expertise covers: environmental expertise was consolidated in 2025. The directors continued to develop their expertise in climate issues during the year, in line with the commitments made as part of the " Say on Climate " initiative. For example, in 2025, they took part in a training session on the issues and challenges related to biodiversity and natural capital. They also received an update on European regulatory developments, including those related to sustainable finance. Drawing on its expertise, the Board was able to conduct discussions on responsible investment, contributing to the 2028 strategic plan "Invest for the future", during its seminar on strategy; expertise in social matters remains widely represented, in particular through the Board members who also have an executive role, and the director elected by the employees; governance remains the most represented area of expertise, particularly due to its significance in terms of culture in the banking sector. The addition, in 2024, of Nathalie Wright to the Audit Committee, who has taken on new duties arising from the CSRD, further strengthened the Committee's sustainability expertise. In general, as presented in the skills matrix below, each expertise is usefully represented on the Board, which makes it possible to consider the Board's collective competence as balanced and adapted to the current and future needs of the Company. (1) Laurence Danon-Arnaud has undertaken to resign as a Director before the expiry of her term of office and no later than November 2027, on which date she would no longer be considered as independent within the meaning of the AFEP-MEDEF Code. Skills matrix for members of the Board of Directors Skills matrix (*) for members of the Board of Directors Legal Risk Asset requirements Governance Accounting Social and management, management Information and and and financial environment compliance, and financial Strategic Sales / technology regulatory compensation information al issues internal audit markets planning Marketing and security framework Olivier Gavalda Pierre Cambefort Virginie Cayatte Laurence Danon-Arnaud Patrice Gentié Gérald Grégoire Michèle Guibert Clotilde L'Angevin Nicolas Mauré Jean-Christophe Mieszala Hélène Molinari Joseph Ouedraogo 92.31% 92.31% 92.31% 92.31% 69.23% 92.31% 76.92% 69.23% 69.23% Nathalie Wright * See the above developments for more details on each of the themes covered by social and environmental issues. Plurality of cultures The Board of Directors' diversity policy seeks, through the profile of each of its members (presented in the "Individual presentation of the directors" in section 2.2), to ensure a diversity of cultures, in line with the needs of the Company. Although all members are French nationals, some have a real international culture and/or professional experience, especially in Asia and Europe, as well as in North America, which is perfectly aligned with Amundi's development strategy. For example, Virginie Cayatte is Chief Financial Officer of a top-tier listed Chinese player, BlueStar Adisseo Company Ltd. Jean-Christophe Mieszala, Nathalie Wright and Pierre Cambefort have either worked for US companies, or developed skills specific to this region, in line with their personal background, thereby strengthening the Board's international culture. Gérald Grégoire has international experience, particularly in Italy , where he was Deputy Chief Executive Officer of Crédit Agricole FriulAdria, in charge of support functions. The four directors that come from the Crédit Agricole regional banks add a local and regional culture. For more details, with regard to the profiles of each of the members of the Amundi Board, see section 2.2. Diversity policy The Board has set itself the objective of achieving, or maintaining, a gender balance , at least in accordance with the minimum proportions stipulated in the French Commercial Code (1) . Since May 2025, the Board of Directors has been composed of 50% women and 50% men , excluding the director elected by the employees (2) . Women remain slightly more numerous on the Board's specialised Committees (62.5% at both end-2024 and end-2025). At the time of the changes that took place in 2025, the Board of Directors, on the recommendation of its Appointments Committee, endeavoured to appoint a long-standing member of each Committee as Chair. All the Committees are currently chaired by a woman (3) . The desire for balanced representation of women and men is also reflected in the Company's internal organisation (see section 2.3.4 - The Group's Management Bodies). The gender equality policy, and specifically the objectives of this policy, the methods of implementation and the results achieved during the past financial year, are discussed each year by the Board of Directors when reviewing the Report on Professional Equality, after an in-depth analysis conducted by the Compensation Committee. In accordance with Article L. 225-18-1 of the French Commercial Code, the proportion of directors of each gender cannot be less than 40%. In accordance with Article L. 225-27 of the French Commercial Code, the director elected by the employees is not taken into account in the calculation of the gender representation percentage required under Article L. 225-18-1 of the French Commercial Code. If this director were taken into account in this calculation, the percentage of women on the Board would be 46.15%. For the composition of the specialised Committees see section 2.1.3. Holding of shares In accordance with Article 10 of the Articles of Association and the AFEP-MEDEF Code (corporate governance code of reference for publicly traded companies), each director must hold at least 200 shares throughout their term of office. Independent directors The process of evaluating the independence of directors is overseen by the Appointments Committee. Each year, the Appointments Committee, taking into account the annual individual declarations of each member, carries out an analysis of the criteria set out in the AFEP-MEDEF Code, which are summarised below. With regard to possible business relations with companies in which the board members, considered independent, hold other offices or functions, the Committee analyses the possible financial flows identified by the Amundi Group's billing monitoring tool. The Committee again focused on sums above €20,000, as in previous years. In light of the results for the 2025 financial year, only one financial flow was greater than this amount. As this was an incoming financial flow, it was compared to the 2024 revenue of Amundi as well as the one of the other company. This represents a negligible ratio (0.00097% for Amundi and 0,00043% for the other company). As in the previous year, with regard to both the quantitative criterion mentioned above and the qualitative criteria related to the nature of the contractual relationship in question (management of employee savings, current contract concluded under normal market conditions), the Committee considered that there was no commitment constituting a situation of dependency or generating conflicts of interest . Thus, at its meeting of 10 March 2026, the Board of Directors was able to draw on the work of its Appointments Committee to consider Virginie Cayatte, Laurence Danon-Arnaud, Jean-Christophe Mieszala, Hélène Molinari and Nathalie Wright as meeting all the criteria required to be qualified as independent members under the AFEP-MEDEF Code (1) . This results in a percentage of 41.67% of independent directors (2) . The Board of Directors refers to the following eight criteria stipulated by Article 10 of the AFEP-MEDEF Code, which are shown below: Summary of Article 10.5 of the AFEP-MEDEF Code: Criteria No. 1. Employee or company officer in the last five years: Not to be or have been in the last five years: an employee or executive company officer of the Company; an employee, executive company officer or director of a company consolidated by the Company; employee, executive company officer or director of the parent company of the Company or of a company consolidated by this parent company. Criterion No. 2. Directorships in other companies: not be an executive company officer of a company in which the Company directly or indirectly holds a position as director or in which an employee appointed as such or an executive company officer of the Company (current or having been for less than five years) holds a position as director. Criterion No. 3. Significant business relationships: not be a client, supplier, investment banker, financing banker, significant adviser (3) to the Company or its Group, or for which the Company or its Group represents a significant share of the activity. The evaluation of the significant or non-significant relationship with the Company or its Group must be debated by the Board, and the quantitative and qualitative criteria that led to the evaluation (continuity, economic dependence, exclusivity etc.) must be explicitly stated in the report on corporate governance. Criterion No. 4. Family tie: not having a close family relationship with a company officer. Criterion No. 5. Statutory Auditor: not having been an auditor of the company during the previous 5 years. Criterion No. 6. Term lasting more than 12 years: not be a director of the Company for more than 12 years. The loss of the status of independent director occurs on the 12-year anniversary date. Criterion No. 7. Status of non-executive company officer: a non-executive company officer cannot be considered independent if they receive variable compensation in cash or securities or any compensation related to the performance of the Company or the Group. Criterion No. 8. Status of the significant shareholder: Directors representing significant shareholders of the Company or its parent company may be considered independent as long as these shareholders do not participate in the control of the Company. However, above a 10% threshold of capital or voting rights, the Board, on the basis of a report from the Appointments Committee, shall systematically query whether the person can be considered as independent, taking into account the composition of the Company's capital and the existence of any potential conflict of interest. The Appointments Committee meeting of 27 February 2026 carried out the same analysis with regard to Dominique Potiron's candidacy as a potential director, which enabled the Board of Directors to classify her as independent. In accordance with recommendation 10.3 of the AFEP-MEDEF Code, the director elected by the employees is not taken into account for calculating the percentage. It should be noted that if this director were taken into account in this calculation, the percentage of independent directors on the Board would be 38.46%. Or be directly or indirectly related. The table below summarises the individual analysis of each director in relation to these eight criteria: Criterion Criterion Criterion Criterion Criterion Criterion Criterion Criterion No. 1 No. 2 No. 3 No. 4 No. 5 No. 6 No. 7 No. 8 Employee or Corporate Officer in Cross- Significant Term lasting No variable Not representing a shareholder Directors / Independence the last director- business Statutory more than compensation holding more criteria (1) Olivier Gavalda five years ships relationships Family ties Auditor 12 years for Chairman than 10% Pierre Cambefort N/A Virginie Cayatte N/A Laurence Danon-Arnaud N/A Patrice Gentié N/A Gérald Grégoire N/A Michèle Guibert N/A Clotilde L'Angevin N/A Nicolas Mauré Jean-Christophe Mieszala Hélène Molinari Joseph Ouedraogo Nathalie Wright (1) In this table, represents a respected independence criterion. N/A N/A N/A N/A N/A Director elected by the employees It should be remembered that under Article L. 225-27-1, section I, paragraph 3 of the French Commercial Code, the Company is not required to include a director representing employees on its Board of Directors, as the parent company, Crédit Agricole S.A., is itself subject to this obligation. Amundi is therefore exempt from the AFEP-MEDEF Code requirements on this point. Nevertheless, the Board of Directors wished to use the optional regime set out in Article L. 225-27 of the French Commercial Code, under which a director may be elected by the Company's employees, if permitted by the Company's Articles of Association. Since the General Shareholders' Meeting of 2016 that approved the amendment to the Articles of Association to this end, the Board includes a director elected by the employees. The aforementioned article also states that the director elected by the employees should not be taken into account when applying the rules relating to the requirement for gender balance under Article L. 225-18-1 of the same Code. It is recalled that Joseph Ouedraogo, Market Risk Project Manager, was elected on 25 March 2022 as the director elected by the employees of Amundi . He was reappointed for a period of three years, during elections that took place in March 2025. Following what had been done for his predecessors, the Board of Directors gave Joseph Ouedraogo the time and resources necessary to study for the company director's certificate from IFA-Sciences Po, which he obtained during the 2023 financial year. Non-voting member In 2025, the Board decided to terminate the function of non-voting director. Nicolas Mauré , Chairman of Caisse Régionale de Crédit Agricole Toulouse 31, who held this position until 27 May 2025, was co-opted as a director. There have therefore been no non-voting directors since that date. Declarations relating to the corporate officers All the statements below have been drawn up on the basis of the individual statements by each director. Absence of family ties To the Company's knowledge, as of the filing date of this Universal Registration Document, there are no family ties among the members of the Board of Directors listed above and the members of the Company's Senior Management. Absence of convictions To the Company's knowledge, in the last five years, (i) none of the aforementioned persons has been convicted of fraud, (ii) none of the aforementioned persons has been associated with bankruptcy, receivership or liquidation, (iii) no official public incrimination and/or sanction has been pronounced against any of the aforementioned persons by statutory or regulatory authorities (including designated professional bodies) and (iv) none of the aforementioned persons has been prevented by a court from acting as a member of an administrative, management or supervisory body of an issuer, or from intervening in the management or conduct of an issuer's affairs. Conflicts of interest As mentioned previously, a number of directors were appointed in their own name based on the proposal of Crédit Agricole S.A.,the majority shareholder: Olivier Gavalda, Pierre Cambefort, Patrice Gentié, Gérald Grégoire, Michèle Guibert, Clotilde L'Angevin and Nicolas Mauré. As at the registration date of this Universal Registration Document, the members of the Board of Directors or the members of the Company's Senior Management have not agreed to any restrictions regarding the sale of their stake in the Company's share capital, with the exception of (i) the rules relating to the prevention of insider trading and (ii) the recommendations of the AFEP-MEDEF Code imposing an obligation on directors to hold shares (with the exception of the director elected by employees), which has been included in Article 10 of the Articles of Association stipulating the obligation to hold 200 shares. In addition, no service agreement has been signed that binds any members of the administrative or management bodies to the issuer or any of its subsidiaries, and providing benefits at its conclusion, with the exception of the suspension agreements for two executive company officers' employment contracts, described in section 2.1.1.4. In 2025, Hélène Molinari refrained from attending certain Board deliberations to avoid any risk of potential conflicts of interest, due to her personal situation. Besides this specific case, to the Company's knowledge, and subject to the relationships described in note 9.2 "Related Parties" of the consolidated financial statements (Chapter 6 of this Universal Registration Document), as of the filing date of this Universal Registration Document, there were no potential conflicts of interest between the duties owed to the Company by the members of the Board of Directors or the Company's Senior Management and their private interests. The conflict of interest management rules are mainly contained in the Company's Directors' Charter, as follows: Appendix 1 to the Internal Rules - Article 9 Conflicts of interest and inside information The director reads and complies with Amundi's Market Ethics Charter. Furthermore, the director informs the Board of any conflicts of interest including potential ones, in which they could be directly or indirectly implicated. They refrain from participating in the discussions and taking decisions on the subjects concerned. The director refrains from using for their personal benefit or for the benefit of whomsoever the inside information to which they have access. The director shall refrain from carrying out any transaction on the Amundi security during the 30 calendar days preceding the publication of the annual and half-yearly results, and during the 15 calendar days preceding the publication of the quarterly financial information, as well as on the day of said publications. The director must, in application of the Market in Financial Instruments Directive (MiFID II), declare any personal transaction on a financial instrument if they consider that they potentially are in a situation of conflicts of interest or if they hold confidential information likely to be considered as inside information and acquired in relation to their duties as director. Role and functioning of the Board of Directors The role of the Board is that of a Board of Directors of a French public limited company (société anonyme): in accordance with Article L. 225-35 of the French Commercial Code, it " determines the company's business strategy and oversees its implementation, in accordance with its corporate interest, by considering the social and environmental issues relating to its business. [...] Subject to the powers expressly granted to shareholders' meetings and within the limit of the corporate purpose, it considers any matter concerning the smooth running of the company and takes decisions on the business concerning it ". The tasks and operation of the Board of Directors are set out in the Board's internal rules and in the Articles of Association, more specifically Articles 12 to 14 of the Articles of Association, as well as Articles 2 to 4 of the internal rules, which are set out in full in Chapter 8 of this Universal Registration Document. Internal Rules: the Internal Rules of the Board of Directors are also available on the Company's website: Governance of the Amundi Group | The Amundi Group . They consist of five main sections related to the powers of the Chairman of the Board of Directors, the powers of the Board and of the Chief Executive Officer and of any deputy chief executive officers, the functioning of the Board, and to its specialised committees. Two Charters (Directors' Charter and Stock Market Ethics Charter) are appended to the Internal Rules. All directors are required to accept these regulations individually when taking office. Following the amendment of the Articles of Association approved by the 2025 Shareholders' General Meeting held on 27 May 2025, the Board of Directors updated its internal rules to take into account the changes introduced by Law no. 2024-537 of 13 June 2024, known as the "Attractiveness" law, relating to the operation of the Board. For more details, see section 2.1.3 "Overview of the specialised committees and their activities in 2024". Duration and expiry of directorships: in accordance with recommendation 15.2 of the AFEP-MEDEF Code, the mandates of directors with a terms of three years are properly spread out over time. Each year, the mandate of four directors expires, allowing for the renewal of the entire Board over time. In addition, and in order to ensure a smooth transition, both in the appointment of new independent directors, and in the composition of its various Committees, the Board decided to propose, to the Shareholders' General Meeting of 27 May 2025, the re-appointment of Virginie Cayatte, one of the two independent directors whose term of office was due to expire. This Shareholders' General Meeting thus approved the appointment of a new independent director, Jean-Christophe Mieszala, to replace Robert Leblanc, who had been appointed independent director at the time of the Company's IPO in November 2015. In the same vein, the Board decided to propose, to the June 2026 Shareholders' General Meeting, the re-appointment of independent director Laurence Danon-Arnaud, one of the two whose term of office is set to expire. In addition, the appointment of Dominique Potiron as independent director will be proposed, to replace Hélène Molinari. Training / Seminar: Traditionally, directors are offered the opportunity to participate in two training sessions during the year, organised to improve both their knowledge and skills, and to allow them to deepen their understanding of the Company's business and strategic issues. In this context, and in accordance with the commitments made in connection with the " Say on Climate " initiative, the members of the Board benefit each year from training in climate issues. For example, in 2025, they participated in a training session on the issues and challenges related to biodiversity and natural capital. They also reviewed European regulatory developments, particularly those relating to sustainable finance. For the rest, the topics change each year, according to the regulatory news, the evolution of the Company's business, or the needs expressed by the members of the Board. During the last financial year, the Directors have notably strengthened their knowledge of the economic and financial outlook from a macroeconomic perspective, of employee and retirement savings, as well as of ETFs (Exchange Traded Funds), active ETFs and crypto ETNs. They also benefited from a review of the financial security framework regarding international sanctions. Lastly, they deepened their knowledge of cybersecurity/DORA regulations, as well as artificial intelligence themes. The Board of Directors' strategy seminar was largely dedicated to discussions on the definition of the 2028 strategic plan "Invest for the future". It also provided an opportunity to analyse the market trends and positioning of Amundi, and for a deeper dive into private assets and the partnership with UniCredit. Nicolas Mauré and Jean-Christophe Mieszala also attended the annual training session organised at Crédit Agricole Group level for all new directors. Meetings without the presence of the Chief Executive Officers: as every year, the Board discussed the performance of the Chief Executive Officers when implementing their compensation policy, without their presence. Philippe Brassac, Virginie Cayatte, Bénédicte Chrétien, Laurence Danon-Arnaud, Patrice Gentié, Gérald Grégoire, Christine Grillet, Robert Leblanc, Nicolas Mauré, Hélène Molinari, Joseph Ouedraogo, Christian Rouchon and Nathalie Wright were present on this occasion. Moreover, during the two training sessions organised in 2025, the directors were able to meet without the presence of the Executive Company Officers. Virginie Cayatte, Laurence Danon-Arnaud, Patrice Gentié, Michèle Guibert, Nicolas Mauré, Jean-Christophe Mieszala, Hélène Molinari, Joseph Ouedraogo and Nathalie Wright were present at these meetings. As is the case each year, the members of the Audit Committee held discussions with the Statutory Auditors, without the presence of any Amundi representatives, at the end of their meeting on the 2024 financial statements. All members of the Committee were present on this occasion. Evaluations: at the end of 2025, the Board carried out two formal self-assessments at the initiative of the Appointments Committee, in accordance with the recommendations of the AFEP-MEDEF Code. One concerns the functioning of the Board and its specialised committees (collective self-assessment) and the second concerns an individual self-assessment of skills, supplemented, as every year, by an individual statement from each director. All assessments take the form of online questionnaires. The responses to the assessment which focuses on the collective functioning of the Board and its specialised committees remain strictly anonymous to preserve freedom of expression. This assessment measures the effectiveness of the Board's operation, its composition and its organisation. In 2025, each director thus gave their assessment on the preparation and the progress of the work of the Board and its specialised committees through, in particular, an assessment of the frequency and the quality of the meetings and their supports. They also commented on the quality of the training sessions and also on the quality and completeness of the documents, as well as the time awarded to the discussions. The summary, prepared by the Appointments Committee and presented to the Board, showed a very high overall satisfaction rate of 99% that has remained stable since 2023, despite the numerous changes within the Board (1) . For the 2025 financial year, the members of the Board gave a high approval rating for the treatment and balance of strategic, business-related and regulatory issues on the agenda of meetings (100% very satisfactory in 2025). The Chairman's conduct of meetings, clarity of decisions and speaking time came in second place alongside themes related to the availability and quality of Board Secretariat teams, as well as the atmosphere and the environment (91% very satisfactory in 2025). The Board noted the increase in approval rating in 2025 for the quality of the technical resources enabling remote participation in Board meetings, in accordance with the improvements requested in 2024 (72.73% very satisfactory in 2025 vs 42.86% in 2024). The approval rating for the overall functioning of the Board remains high (81.82% very satisfactory and 18.18% satisfactory). In this context, the Board has set itself some areas for improvement for 2026, including extending the duration of its strategy seminar and continuing interaction with the teams. (1) Overall satisfaction rate of 99.71% in 2025, 99.52% in 2024 and 99.01% in 2023. The self-assessment and the individual declaration , which are completed by each member of the Board, relate to their skills and possible training needs, but also their availability, independence, identification of potential conflicts of interest, good repute and compliance with ethical rules. Individual feedback enables the Appointments Committee to supplement its analysis of the collegial competence of the Board and the actual contribution of each of its members ( see "Individual presentation of directors" in section 2.2 below and the paragraph on "Skills" in section 2.1.1.1.4 above). The feedback from each member also makes it possible to refine the training programmes according to the needs identified. Succession plan: the procedure relating to the plan for succession of the company officers, Executive Company Officers and holders of key positions had been updated during the 2021 financial year, in particular to take into account a regulatory change. Since then, any proposed dismissal of the Heads of Risk Management, Compliance and Internal Audit functions, representatives of key positions, is now subject to the prior approval of the Board. It should be noted that this succession planning procedure provides for actions by the Appointments Committee that depend on whether or not the company officer to be recruited is independent. No update to this procedure was deemed necessary in 2025. On the recommendation of the Appointments Committee, in 2025 the Board of Directors reviewed and confirmed the robustness of the succession plan for Executive Directors . With regard to the succession of independent directors , four of whom were appointed in 2015 (1) , the Board of Directors initiated last year, on the recommendation of the Appointments Committee, a first step in the succession plan aimed at proposing the renewal of only one of the two independent directors whose term of office was expiring. In the same vein and to ensure a smooth transition, the Board decided to propose, to the June 2026 Shareholders' General Meeting, the renewal of independent director Laurence Danon-Arnaud, one of the two independent directors whose term of office is set to expire. The appointment of Dominique Potiron as independent director will be proposed as the successor to Hélène Molinari. Reference and Compliance with a Corporate Governance Code The Company refers to the Corporate Governance Code for Listed Companies, published by AFEP and MEDEF (the "AFEP-MEDEF Code" as updated in December 2022). The Code can be viewed at https://www.afep.com/en/ or https://www.medef.com/en/ . The Company complies with all the recommendations in this Code. At the end of the 2025 financial year, after an in-depth analysis, it was observed that the recommendations of the Code were complied with . However, it seems useful to make the following clarification: ARTICLE 23 TERMINATION OF EMPLOYMENT CONTRACTS FOR COMPANY OFFICERS "It is recommended, when an employee becomes an executive company officer, to terminate the employment contract that binds them to the Company or to a Group company, either by contractual termination or by resignation". Article 23 of the AFEP-MEDEF Code, as interpreted by the High Committee on Corporate Governance in its application guide, recommends outright termination of the employment contract when an employee becomes an Executive Corporate Officer. It should be noted that in 2022, the General Shareholders' Meeting approved the agreement previously approved by the Board of Directors, providing for the suspension of Valérie Baudson's employment contract. In accordance with the doctrine of the Autorité des marchés financiers (French Financial Markets Authority, AMF) and the Haut Comité du Gouvernement d'Entreprise (High Committee for Corporate Governance), the Board considered that Valérie Baudson's 25-year long service and her personal situation were sufficient grounds to maintain her employment contract, while arranging for its suspension. Although Article 23 of the AFEP-MEDEF Code does not apply to the Deputy Chief Executive Officer of a company with a Board of Directors, it seems useful to specify that the Board adopted the same approach for Nicolas Calcoen. In 2023, the General Shareholders' Meeting also approved the agreement to suspend the latter's employment contract. In order to provide an appropriate framework for these two situations from a contractual perspective, it is specified that the aforementioned suspension agreements stipulate, for both Valérie Baudson and Nicolas Calcoen, that the suspension period will not be taken into account when calculating their length of service. Furthermore, the non-compete commitments set out in the suspension agreements last for a period of 12 months following the effective date of their termination. The financial consideration for these commitments is set at 50% of the fixed compensation to which Valérie Baudson or Nicolas Calcoen would be entitled upon reactivating their employment contract. These employment contract suspensions still mean that Valérie Baudson and Nicolas Calcoen will not be entitled, during their terms, to any related items of compensation, whether arising from their employment contracts, the applicable contractual stipulations or the legal and regulatory provisions in force. These officers will therefore only receive compensation in respect of their corporate office, in line with the terms and conditions described in section 2.4 of this Universal Registration Document. Lastly, it should also be noted that, in the event that their duties are terminated, under no circumstances may the total amount of any severance pay and any indemnities that may be paid as a result of terminating their employment contract exceed an amount corresponding to two years' fixed and variable annual compensation. (1) Article 10.5 of the Afep-Medef code requires, in order to be independent, not to have been a director of the company for more than 12 years. ‌Activities of the Board of Directors in 2025 In 2025, the activity of the Board of Directors was supported with 7 Board meetings . The involvement of the directors was significant, with an overall attendance rate at 26 meetings and 1 written consultation of the Committees and Boards during the year of 96.03% . The attendance records of each of the directors are given in the summary table set about above. The Board of Directors primarily focused on the following topics in 2025: Definition of the 2028 Medium-Term Plan Partnership with ICG IPO of SBI FM Governance and compensation meetings + 1 consultation Compensation policy Diversity policy Review of the internal rules Monitoring of business activity and quarterly results Monitoring of product performance Definition of the share buyback programme 96.03 % Attendance Climate strategy Sustainability, ESG and Internal Control CSRD changes Quarterly monitoring of internal control activity and ethics charter Changes in the composition of the Board and Committees Activity and results 26 Strategy Strategic guidelines In 2025, the Board's work was largely devoted to monitoring the successful development of Amundi's strategic priorities, making decisions aimed at both financing its future investments and accelerating the redeployment of its resources towards the growth pillars, and most importantly, defining and preparing for the launch of the 2028 Strategic Plan "Invest for the future" . To this end, it has defined a cost optimisation objective, starting from 2025, to enable Amundi to continue to invest, redeploy its resources and optimise its cost base to evolve its platform, respond to changing customer needs and develop new services. This work was carried out in parallel with a number of tasks aimed at defining six clear strategic priorities by 2028 : Accelerate client diversification by focusing on high-potential segments: retirement and digital; Expand geographical coverage to capture growth in Asia, Europe and high-potential regions; Drive innovation in solutions by active and passive investing and investing in private assets; Accelerate Amundi Technology's roadmap to become the preferred technology partner in Northern Europe and Asia; Optimise the operating model to improve efficiency and redirect resources towards growth areas; Invest to create value . Governance and compensation A number of changes were made within the Board and its specialised Committees in 2025, as detailed in section 2.1.1.1.1 "Overview of developments in 2025". The Board has translated this strategic roadmap into financial targets for a clear earnings trajectory, industry-leading efficiency, attractive shareholder returns and strict capital discipline. The Board also focused on value-creating transactions , some of which carry on beyond 2025. In the first half of 2025, the partnership with Victory Capital came to fruition . Through this transaction, Amundi will distribute Victory Capital's active management solutions to its non-US client base and provide investment solutions managed outside the USA for Victory Capital's US client base. The second half of the year saw the Board launch a new longterm strategic and equity partnership with ICG , a private asset management specialist listed in London, where it is based. In addition, the Board reviewed the partnership with UniCredit, whose distribution agreement expires in July 2027, during the period of the new plan. Finally, the Board pursued other growth or value creation transactions, including the proposed listing of its Indian JV SBI FM. In order to ensure the best possible transition and preserve its level of collegial skills, the Board has, on the recommendations of its Appointments Committee, made some new appointments that have brought about many changes in its governance . First of all, the changes made enabled the Board to maintain a gender balance , terminate the function of non-voting director and integrate new generations . They were also an opportunity for the Board to initiate a transition in the future replacement of the four independent directors who were all appointed in 2015, at the time of the Company's IPO. A first step was taken at the 2025 General Meeting, with the appointment of Jean-Christophe Mieszala to succeed Robert Leblanc, whose term of office was coming to an end. At the same time, the Board decided to propose the re-appointment of Virginie Cayatte's, taking into account the fact that she had undertaken in advance to resign before her new term of office expires and at the latest in November 2027, when she would lose her independent status. This choice to replace one in two independent directors, as their terms of office expire, has been carefully considered. Based on preparatory work by the Board Secretariat and supported by the Appointments Committee, it will allow the appointment of new independent directors to be better spread over time in future years and thus ensuring a smooth transition at Board level. In 2025, there was also an opportunity to thoroughly review the composition of the Committees and improve their governance . Always guided first and foremost by the criterion of expertise, the Board decided, on the occasion of the retirement of Christian Rouchon, a long-standing director of the Company (1) , to appoint Virginie Cayatte as Chair of the Audit Committee, Activity and results Each quarter, the Board of Directors examined the overall evolution of the performance of the products managed by all the management companies of the Amundi Group as well as net inflows in the various client segments and relations with its partners, especially those outside France. It also closely monitored the contributions to the results of the joint ventures . In terms of net income, and in addition to the adoption of the annual and consolidated financial statements , the Board of Directors also examined the half-yearly financial statements and the quarterly results for the year 2025. On each of these occasions it on which she is one of its independent members . On similar lines, Laurence Danon was appointed Chair of the Compensation Committee and Michèle Guibert was named as Chair of the Risk Committee. In addition to these significant governance changes in 2025, the Board of Directors' other work on governance and compensation focused on: approving the principles of the compensation policy for financial year 2025, as well as ensuring it complies with the applicable regulations in the area of asset management and banking with regard to the categories of identified staff; the validation of new performance share plans and their attributions as part of the compensation campaign; the compensation of company officers as well as the allocation of compensation among the members of the Board; implementing a capital increase reserved for employees ; analysing the Report on gender pay equality and the progress made in 2025 in the area of gender equality, as well as recording the progress made in relation to setting objectives in the Gender equality policy (2) ; changes to the Board's internal rules to incorporate the new features introduced by Law no. 2024-537 of 13 June 2024, known as the "Attractiveness" law; the preparation of the Shareholders' General Meeting ; and a review of the Ethics Charter . liaised with the Statutory Auditors, who presented their findings. The Board also approved all of the financial communications , which were prepared after taking into account the amendments proposed by the Audit Committee. At the end of 2025, the Board of Directors took a decision on the presentation of the 2026 budget and the Company's 2027-2028 financial trajectory. It also decided to launch a share buyback programme, confirming the commitment made to return the remaining surplus capital from the 2025 strategic cycle to shareholders. Sustainability, risks and internal control On the basis of the work carried out by the Audit Committee, which supervised the process for preparing sustainability information, as well as that implemented to determine the information to be published, the Board of Directors validated the principles proposed for the preparation of its sustainability report , which it definitively approved in March 2026. The Board continued to monitor the progress of the indicators related to its Climate Strategy on a quarterly basis and initiated discussions aimed at defining the future areas for its development when its plan expires. In addition, each quarter, the Board of Directors reviews the developments and detailed news of the internal control activity integrating the elements specific to the Compliance, Risk, Security and Audit business lines. New monitoring indicators have been put in place for both audit and security, thereby enhancing monitoring activity. The Board also approved, as it does each year, the terms of the annual internal control report drawn up in accordance with banking regulations and sent to the ACPR. It ruled on the Brief risk statement and on the ICAAP and ILAAP statements (3) , pursuant to the requirements of banking regulations. It also approved the risk framework, as well as changes to the risk appetite matrix and risk limits. Christian Rouchon had been a Director of Amundi since December 2009. For more details, see section 2.3.4.2. ICAAP: Internal Capital Adequacy Assessment Process - ILAAP: Internal Liquidity Adequacy Assessment Process. Related-party agreements and the procedure for evaluating current agreements During the 2025 financial year, no related-party agreements , within the meaning of Article L. 225-38 of the French Commercial Code, were entered into. Furthermore, in accordance with the procedure adopted in 2020 on assessing agreements relating to current transactions and concluded under normal conditions, the Board of Directors verified that the Audit Committee had carried out the work necessary to implement it properly. It should be remembered that the procedure approved by the Board of Directors is based on the following key principles: ‌the Audit Committee is responsible for ensuring compliance with this procedure; the due diligence to be carried out to perform the evaluation of the agreements is based on criteria determined by the Audit Committee and referring to those established by the National Commission of Statutory Auditors; individuals who may have a direct or indirect interest in an agreement are excluded from the evaluation process; the Company's Statutory Auditors or the Audit Committee are consulted over legal disputes; finally, the Board of Directors shall oversee any work carried out by the Audit Committee in this regard. Overview of the specialised committees and their activities in 2025 In accordance with the Company's Articles of Association and the applicable banking regulations, the Board of Directors has set up five specialised committees to carry out a thorough examination of certain specific issues falling within the mission of the Board of Directors. For example, the Board of Directors relies in particular on the in-depth work carried out by its specialised Committees to take social and environmental issues into account. Each Committee incorporates this dimension into its specific tasks. The Strategy and CSR Committee issues recommendations on the company's strategy in the area of responsible investment and CSR. The Appointments Committee ensures that the Board has a good level of collegial expertise in ESG matters. The Compensation Committee ensures that non-financial elements are taken into account in the compensation policy. The Risk Management Committee monitors and controls risk indicators relating to social and environmental commitments. Lastly, the Audit Committee, which has been monitoring the analysis of nonfinancial indicators reported to the market since 2022, was entrusted, in 2024, with most of the new tasks specific to the CSRD. It should be noted that these Committees have no decision-making powers . Their task is to study any issue relating to the Company that is submitted to them by the Board or by the Chairman, to carry out preliminary work and prepare for the decisions by the Board in the form of reports, proposals, opinions, information or recommendations. The Committee members are appointed by the Board of Directors, which may remove them at any time. A member of a Committee may resign his or her functions at any time. All members of the committees and anyone attending the Committee meetings are bound by professional confidentiality. The Chair of each Committee convenes the meetings within their remit and validates the meeting agenda or main purpose, taking into consideration the requests of members, and in accordance with the committee's powers. The Board of Directors may also make a specific request to each committee within the scope of its powers, and may ask the Committee Chairman to call an exceptional meeting on that topic. The Committees may meet by any means, including remotely. It may also give its opinion by written consultation. The members of each Committee must receive information sufficiently far in advance of the meeting to enable them to make an informed decision. In order to validly deliberate or give an opinion, at least half of the Committees' members must be present. Opinions and recommendations made to the Board of Directors are adopted by a majority of members present or represented. The Chairman of each Committee will lead the discussions and report the Committee's recommendations, opinions or proposals to the Board of Directors. Minutes must be prepared and distributed to Committee members following each meeting. The minutes shall state the opinion of all members. Once approved, the minutes shall also be made available to all directors. The Committee may obtain the opinion of any person, including a third party, who may shed light on a subject being discussed. The Board pays particular attention to the composition of its Committees so that it complies with the recommendations of the AFEP-MEDEF Code and the banking regulations, but also that it allows a good match between the specific expertise of its members and the skills necessary for each Committee. This composition is evaluated annually by the Board and gave rise to changes in 2025. The Board also ensures good coordination between the various Committees through some of the members serving on different Committees . For example, Michèle Guibert is a member of the Audit Committee, as well as being Chair of the Risk Committee. Nathalie Wright is a member of both the Audit Committee and the Risk Committee. Virginie Cayatte shares her experience with the Audit Committee, which she now chairs, with the Strategic and CSR Committee, of which she is also a member. Laurence Danon-Arnaud chairs both the Strategy and CSR Committee and the Compensation Committee. Lastly, Jean-Christophe Mieszala is a member of all the specialised Board Committees, except for the Audit Committee. To continue these efforts to create synergies, the Board decided to convene, for the second time, a Joint Committee bringing together the members of the Audit Committee and those of the Risk Management Committee, in December 2025. Strategy and CSR Committee Composition and changes Some changes were made to the composition of the Strategy and CSR Committee in 2025. Olivier Gavalda joined the Committee, taking over from Philippe Brassac. The Board also decided to include the new independent director Jean-Christophe Mieszala as the fourth member. Chaired by an independent director, duly qualified for the role, the Committee also includes the Chairman of the Board in order to ensure overall alignment of the Company's strategic vision with its majority shareholder. 4 MEMBERS 4 MEETINGS 100 % OVERALL ATTENDANCE RATE Name Individual attendance rate Status Position Overview of the main areas of expertise LAURENCE DANON-ARNAUD Chair 100% Independent Director Company manager Governance and compensation Accounting and financial information Social and environmental issues Risk management, compliance, internal audit Strategic planning Sales / Marketing PHILIPPE BRASSAC (1) (former member) 100% (over 2 meetings) VIRGINIE Chairman of the Board of Directors (4) Chief Executive Officer of Crédit Agricole S.A. (4) , majority shareholder Governance and compensation Accounting and financial information Social and environmental issues Risk management, compliance, internal audit Asset management and financial markets Governance and compensation Accounting Strategic planning Sales / Marketing Information technology and security Legal requirements and regulatory framework Asset management and financial markets Strategic planning CAYATTE 100% OLIVIER GAVALDA (2) Independent Director Chief Financial Officer Chairman of the Board Chief Executive Officer of Crédit Agricole S.A., and financial information Social and environmental issues Risk management, compliance, internal audit Governance and compensation Accounting and financial information Social and Information technology and security Legal requirements and regulatory framework Strategic planning Sales / Marketing Information technology 100% (over 2 meetings) JEAN-CHRISTOPHE of Directors majority shareholder environmental issues Risk management, compliance, internal audit Asset management and financial markets Governance and compensation Accounting and financial information and security Legal requirements and regulatory framework Strategic planning Sales / Marketing MIESZALA (3) 100% (over 2 meetings) Independent Director Company Director Social and environmental issues Risk management, compliance, internal audit Asset management and financial markets Information technology and security Legal requirements and regulatory framework Philippe Brassac's term of office expired at the end of the Shareholders' General Meeting of 27 May 2025. Olivier Gavalda was appointed a member of the Strategy and CSR Committee on 27 May 2025. Jean-Christophe Mieszala was appointed a member of the Strategy and CSR Committee on 27 May 2025. The status and position indicated for Philippe Brassac correspond to those he had when he was a member of the Amundi Board of Directors. At the request of the Committee, the Chief Executive Officer and the Deputy Chief Executive Officer also Head of the Strategy, Finance and Control division, systematically participate in the meetings of the Strategic and CSR Committee. Other occasional speakers may also be called upon to present on specific topics, at the express request of the Committee. 2025 missions and activities The missions entrusted to the Strategic and CSR Committee by the Board of Directors are detailed in Article 5.3 of the Internal Rules featured in Chapter 8 of this Universal Registration Document. Its activity in 2025 included four meetings on the work described below. Work generated by its recurring missions: analysis of the progress report contained in Chapter 3 of the Universal Registration Document on social and environmental responsibility policies and the Climate Strategy; analysis of the draft resolution "Say on Climate". Specific in-depth analyses: monitoring of the implementation of the partnership with US asset manager Victory Capital , which was finalised in the first half of 2025; definition of the strategic priorities to be recommended to the Board in view of the 2028 Strategic Plan Invest for the future ; monitoring of changes in the banking environment in Italy and its potential impact on the partnership with UniCredit; analysis of the proposed long-term strategic and equity partnership with ICG ; analysis of the proposed listing of the Indian JV SBI FM ; other studies of growth operations projects under consideration, in progress or for exploratory purposes. Risk Management Committee Composition and changes There were some changes to the composition of the Risk Management Committee in 2025. Michèle Guibert, who had been a member of the Board since 2020, was appointed Chair in place of Christian Rouchon, with the Board considering that a Chief Executive Officer of a credit institution would be best placed to fulfil the role. The Board also decided to include Jean-Christophe Mieszala, a new independent director with particular expertise in the area of risk management, thereby strengthening the Committee's independence at the same time. It is recalled that the existence and composition of this Committee are subject to banking regulations. 3 MEMBERS 6 ** MEETINGS 91.67 % OVERALL ATTENDANCE RATE Name Individual attendance rate Status Position Overview of the main areas of expertise MICHÈLE GUIBERT (1) Chair 100% (over 2 meetings) 50% (over 4 meetings) (2) Director representing Crédit Agricole group CEO of a regional bank Governance and compensation Accounting and financial information Social and environmental issues Risk management, compliance, internal audit Asset management and financial markets Strategic planning Sales / Marketing Information technology and security Legal requirements and regulatory framework Governance and compensation Accounting Strategic planning CHRISTIAN and financial information Sales / Marketing ROUCHON (3) (Former Chair) 100% (over 4 meetings) JEAN-CHRISTOPHE Director representing Crédit Agricole group (5) CEO of a regional bank (5) Social and environmental issues Risk management, compliance, internal audit Asset management and financial markets Governance and compensation Accounting and financial information Information technology and security Legal requirements and regulatory framework Strategic planning Sales / Marketing MIESZALA (4) 100% (over 2 meetings) Independent Director Company Director Social and environmental issues Risk management, compliance, internal audit Asset management and financial markets Information technology and security Legal requirements and regulatory framework Sales / Marketing Information technology and security Legal requirements and regulatory framework Strategic planning Governance and compensation Accounting and financial information Social and environmental issues Risk management, compliance, internal audit Independent Director Company Director NATHALIE WRIGHT 100% Michèle Guibert became Chair of the Risk Management Committee on 28 July 2025. Michèle Guibert was absent from the Risk Committee meetings of 30 January and 24 April 2025. Since becoming Chair of the Committee, she has been present at all meetings. Christian Rouchon resigned at the end of the Board of Directors meeting of 28 July 2025. Jean-Christophe Mieszala was appointed a member of the Risk Management Committee on 28 July 2025. The status and position indicated for Christian Rouchon correspond to those he had when he was a member of the Board of Directors of Amundi. ** Out of the 6 meetings, a Joint Risk Management and Audit Committee met on 11 December 2025. At the request of the Committee, the Deputy Chief Executive Officer, also Director of the Strategy, Finance and Control division, the Directors of Risk, Compliance, IT Security and Internal Audit as well as the Statutory Auditors participate in all Risk Management Committee meetings. Other individuals may also be called upon to make one-off presentations on specific topics at the express request of the Committee. 2025 missions and activities The missions entrusted to the Risk Management Committee by the Board of Directors are detailed in Article 5.4 of the Internal Rules set out in Chapter 8 of this Universal Registration Document. It plays an essential role and six meetings were required in 2025 to enable its members to work on the various themes described below. Work generated by its recurring missions: analysis of internal control activities, based on the presentation of each internal control function; study and recommendation on the evolution of the internal control system; analysis and recommendation of the ICAAP and ILAAP (1) and brief risk statement; study of the annual internal control report for the ACPR [the French Authority responsible for supervising banking and insurance undertakings] and the reports on the Fight Against Money Laundering and Terrorism Financing; recurring monitoring of the inspection work performed by the Audit team, as well as the implementation of recommendations; review of the 2026 Audit Plan; quarterly monitoring of the risk indicators with regard to the risk appetite level in the Risk Policy approved by the Board; recommendations as part of the annual risk strategy decided by the Board; information system security policy and analysis of new monitoring indicators as part of the risk strategy; verification of the compatibility of the compensation policy with the situation of the Group with regard to the risks to which it is exposed, the capital, the liquidity as well as the probability and the timing of Amundi's expected economic and prudential benefits; monitoring of the missions of the various regulators and their recommendations; monitoring of compliance with the ESG commitments made by the Company in managing its funds and mandates. Specific in-depth analyses: study of the evolution of the SRI label; review of feedback following the 2024 AGM and the action plan put in place ahead of the 2025 AGM; monitoring of the application of the CRR III regulation; review of changes to the 2025 risk appetite framework; monitoring of the performance of real estate funds; update on outsourcing; update on IT upgrades and associated risks. Joint Committee : In continuation of what was done for the first time in 2023, the Risk Management Committee meeting in December was organised jointly with the Audit Committee. The Joint Committee decided on the budget and the management of the associated risks for 2026 within the framework of the proposed budget assumptions, including in a stressed scenario. It also studied Amundi's capital position in detail. (1) ICAAP: Internal Capital Adequacy Assessment Process - ILAAP: Internal Liquidity Adequacy Assessment Process. Audit Committee Composition and changes In 2025, there were some changes to the composition of the Audit Committee. This Committee still has three members. Nathalie Wright joined the Committee at the end of 2024 to further strengthen its sustainability expertise, and Robert Leblanc was not replaced. With the departure of Christian Rouchon, long-standing member Virginie Cayatte was appointed Chair, and Michèle Guibert joined the Committee. Two-thirds of Audit Committee members are now independent, including the Chair, and the members have expertise in all the areas it covers. 3 MEMBERS 6 ** MEETINGS 96.67 % OVERALL ATTENDANCE RATE Name Individual attendance rate Status Position Overview of the main areas of expertise VIRGINIE CAYATTE (1) Chair Independent Director Chief Financial Officer Governance and compensation Accounting and financial information Social and Asset management and financial markets Strategic planning Information technology 100% (over 2 meetings) 75% (over 4 meetings) (2) environmental issues Risk management, compliance, internal audit and security Legal requirements and regulatory framework CHRISTIAN ROUCHON (3) (Former Chair) 100% (over 4 meetings) Director representing CEO of a regional bank (6) Crédit Agricole group (6) Governance and compensation Accounting and financial information Social and environmental issues Risk management, compliance, internal audit Asset management and financial markets Governance Strategic planning Sales / Marketing Information technology and security Legal requirements and regulatory framework MICHÈLE and compensation Strategic planning Accounting and financial information Sales / Marketing GUIBERT (4) 100% (over 2 meetings) ROBERT LEBLANC (5) Director representing Crédit Agricole group CEO of a regional bank Social and environmental issues Risk management, compliance, internal audit Asset management and financial markets Governance and compensation Accounting and financial information Social Information technology and security Legal requirements and regulatory framework Strategic planning Sales / Marketing Information technology (Former member) 100% (over 3 meetings) Independent Director (6) Company manager (6) and environmental issues Risk management, compliance, internal audit Asset management and financial markets and security Legal requirements and regulatory framework Sales / Marketing Information technology and security Legal requirements and regulatory framework Strategic planning Governance and compensation Accounting and financial information Social and environmental issues Risk management, compliance, internal audit Independent Director Company Director NATHALIE WRIGHT 100% Virginie Cayatte became Chair of the Audit Committee on 28 July 2025. Virginie Cayatte was absent from the Audit Committee meeting of 28 April 2025. Since becoming Chair of the Committee, she has been present at all meetings. Christian Rouchon resigned at the end of the Board of Directors meeting of 28 July 2025. Michèle Guibert became a member of the Audit Committee on 28 July 2025. Robert Leblanc's term of office expired at the end of the Shareholders' General Meeting of 27 May 2025. The status and position indicated for Christian Rouchon and Robert Leblanc correspond to those they had, respectively, when they were members of the Amundi Board of Directors. ** Out of the 6 meetings, a Joint Risk Management and Audit Committee met on 11 December 2025. At the request of the Committee, the Deputy Chief Executive Officer, also Director of the Strategy, Finance and Control Division, the Chief Financial Officer, the Chief Risk Officer, the Head of Internal Audit and the Statutory Auditors systematically attend the Audit Committee meetings. Other individuals may also be called upon to make one-off presentations on specific topics at the express request of the Committee. 2025 missions and activities The missions entrusted to the Audit Committee by the Board of Directors are detailed in Article 5.2 of the Internal Rules in Chapter 8 of this Universal Registration Document. These evolved in 2024 to reflect the role that the Audit Committee now plays in the sustainability reporting process. Work generated by its recurring missions: analysis of the business and the 2024 Company and consolidated financial statements, as well as the quarterly and half-year statements for 2025; systematic review of draft press releases regarding the publication of results; analysis of related-party and current agreements in view of the criteria set by the Committee; review of the 2024 draft sustainability report; attendance of annual presentation of the Statutory Auditors, in the absence of any representative of the Company, and analysis of their quarterly audit approaches and work, as well as their independence; oversight of the completion of work beyond the audit performed by the Statutory Auditors; analysis of the audit plan of the Statutory Auditors for the 2025 financial year. Specific in-depth analyses: activity carried out with third-party distributors, particularly online platforms; financial impacts of the strategic partnership with Victory Capital; financial trajectory of the 2028 Medium-Term Plan. Joint Committee : As in 2023 and onwards, the Audit Committee meeting in December was held jointly with the Risk Management Committee. This Joint Committee decided on the budget and management of the associated risks for 2026 within the framework of the proposed budget assumptions, including in a stress scenario. It also studied Amundi's capital position in detail. Compensation Committee Composition and changes There were some changes to the composition of the Compensation Committee in 2025. Following the departure of Robert Leblanc, long-standing member Laurence Danon-Arnaud was appointed Chair and Jean-Christophe Mieszala joined the Committee. Clotilde L'Angevin also joined the Committee in place of Bénédicte Chrétien as representative of the majority shareholder. Two-thirds of its members are independent, as is the Chair . Its three members have areas of expertise that are of specific use for the work of the Committee. As a reminder, under Article L. 225-27-1, section I, paragraph 3 of the French Commercial Code, the Company is not required to include a director representing employees on its Board of Directors, as the parent company, Crédit Agricole S.A., is itself subject to this obligation. Thus, Amundi is not bound by the recommendation of the AFEP-MEDEF Code relating to the presence of an employee director within its Compensation Committee. 3 MEMBERS 2 MEETINGS 100 % OVERALL ATTENDANCE RATE Name Individual attendance rate Status Position Overview of the main areas of expertise LAURENCE DANON-ARNAUD (1) Chair 100% Independent Director Company manager Governance and compensation Accounting and financial information Social and environmental issues Risk management, compliance, internal audit Strategic planning Sales / Marketing ROBERT LEBLANC (2) (former Chair) 100% (over 1 meeting) BÉNÉDICTE CHRÉTIEN (3) (Former member) 100% (over 1 meeting) Independent Director (6) Director representing Crédit Agricole group (6) Company manager (6) Group Human Resources Director of Crédit Agricole S.A. (6) Governance and compensation Accounting and financial information Social and environmental issues Risk management, compliance, internal audit Asset management and financial markets Governance and compensation Accounting and financial information Social and environmental issues Risk management, Asset management and financial markets Governance and compensation Deputy Chief Executive CLOTILDE compliance, internal audit Strategic planning Sales / Marketing Information technology and security Legal requirements and regulatory framework Asset management and financial markets Strategic planning Sales / Marketing Legal requirements and regulatory framework L'ANGEVIN (5) 100% (over 1 meeting) JEAN-CHRISTOPHE Director representing Crédit Agricole group Officer of the Crédit Agricole S.A. Group in charge of the Finance and Steering division Accounting and financial information Social and environmental issues Risk management, compliance, internal audit Governance and compensation Accounting and financial information Strategic planning Sales / Marketing Legal requirements and regulatory framework Strategic planning Sales / Marketing MIESZALA (4) 100% (over 1 meeting) Independent Director Company Director Social and environmental issues Risk management, compliance, internal audit Asset management and financial markets Information technology and security Legal requirements and regulatory framework Laurence Danon-Arnaud became Chair of the Compensation Committee on 27 May 2025. Robert Leblanc's term of office expired at the end of the Shareholders' General Meeting of 27 May 2025. Bénédicte Chrétien resigned at the end of the Board of Directors meeting of 28 July 2025. Jean-Christophe Mieszala was appointed a member of the Compensation Committee on 27 May 2025. Clotilde L'Angevin was appointed a member of the Compensation Committee on 27 October 2025. The status and position indicated for Robert Leblanc and Bénédicte Chrétien correspond to those they had, respectively, when they were members of the Board of Directors of Amundi. At the request of the Committee, the Chief Executive Officer or the Deputy Chief Executive Officer responsible for the Strategy, Finance and Control division may be required to attend certain parts of meetings from time to time. Amundi's Head of Human Resources also attends these meetings. 2025 missions and activities The missions entrusted to the Compensation Committee by the Board of Directors are detailed in Article 5.5 of the Internal Rules featured in Chapter 8 of this Universal Registration Document. It should be noted that the Committee is specifically responsible for issuing recommendations to the Board on the compensation policy with regard to social and environmental issues. Work generated by its recurring missions: recommendations on the proposed compensation policy for 2025; analysis of the implementation of the 2024 compensation policy, compared to the Company's results; study of the compensation of the members of the General Executive Committee, the Heads of Internal Control and the "identified" persons within the meaning of the applicable financial regulations; review of the conditions for the allocation of performance share plans; study of the indexation of deferred bonuses; recommendation, following analysis, of a capital increase reserved for employees in 2025; analysis and proposal of compensation for executive corporate officers; recommendation of guidelines in Amundi's Gender Balance policy, with regard to the study of the report on gender equality in the workplace. Specific in-depth analyses: review of the positioning of the Chief Executive Officer and Deputy Chief Executive Officer's compensation versus their peers on the basis of a study conducted by McLagan. Appointments Committee Composition and changes Two-thirds of the members of the Appointments Committee are independent, including its Chair. Its composition complies with the AFEP-MEDEF Code and banking regulations. There were some changes to its composition in 2025. Jean-Christophe Mieszala replaced Robert Leblanc and Nicolas Mauré took over from Bénédicte Chrétien. The three members possess expertise specifically useful to the Committee's missions. 3 MEMBERS 3 MEETINGS INCLUDING 1 WRITTEN CONSULTATION 93.75 % OVERALL ATTENDANCE RATE Name Individual attendance rate Status Position Overview of the main areas of expertise HÉLÈNE MOLINARI Chair 100% Independent Director Company manager Governance and compensation Social and environmental issues Asset management and financial markets Strategic planning Sales / Marketing BÉNÉDICTE CHRÉTIEN (1) (Former member) 67% ROBERT LEBLANC (2) Director representing Crédit Agricole g roup (5) Group Human Resources Director of Crédit Agricole S.A. (5) Governance and compensation Accounting and financial information Social and environmental issues Risk management, compliance, internal audit Governance and compensation Accounting and financial information Social Asset management and financial markets Strategic planning Sales / Marketing Legal requirements and regulatory framework Strategic planning Sales / Marketing Information technology (Former member) 100% (over 2 meetings) NICOLAS MAURÉ (3) JEAN-CHRISTOPHE MIESZALA (4) 100% (over 1 meeting) Independent Director (5) Company manager (5) Director representing Chairman of a regional Crédit Agricole group bank Independent Director Company Director and environmental issues Risk management, compliance, internal audit Asset management and financial markets Governance and compensation Accounting and financial information Social and environmental issues Risk management, compliance, internal audit Governance and compensation Accounting and financial information Social and environmental issues Risk management, compliance, internal audit Asset management and financial markets and security Legal requirements and regulatory framework Asset management and financial markets Strategic planning Information technology and security Legal requirements and regulatory framework Strategic planning Sales / Marketing Information technology and security Legal requirements and regulatory framework Bénédicte Chrétien resigned at the end of the Board of Directors meeting of 28 July 2025. Robert Leblanc's term of office expired at the end of the Shareholders' General Meeting of 27 May 2025. Nicolas Mauré was appointed a member of the Appointments Committee on 28 July 2025. No meetings of the Appointments Committee took place between this date and 31 December 2025. Jean-Christophe Mieszala was appointed a member of the Appointments Committee on 27 May 2025. The status and position indicated for Robert Leblanc and Bénédicte Chrétien correspond to those they had, respectively, when they were members of the Amundi Board of Directors. At the request of the Committee, the Deputy Chief Executive Officer, who is also Director of the Strategy, Finance and Control Division, and the Secretary of the Board traditionally attend Appointments Committee meetings. 2025 missions and activities The missions entrusted to the Appointments Committee by the Board of Directors are detailed in Article 5.6 of the Internal Rules featured in Chapter 8 of this Universal Registration Document. As a reminder, the Appointments Committee's role is to make recommendations on policies for selecting and appointing members to the Board and the Committees, as well as those involved in management of the Company or the corporate bodies of its subsidiaries. In this context, they ensure that social and environmental issues and a balanced skill set are taken into account. Work generated by its recurring missions: analysis and assessment of the independence criteria for qualified directors as such; analysis of the composition of the Board and its Committees, and recommendations with regard to the balance, diversity, skills and experiences of its members with a view to their adequacy with the strategy and evolution of the Company's activity; examination of the individual skills and contributions of Board members; analysis of the survey results of the collective and individual self-assessment questionnaires and recommendations for improvement; recommendations relating to the expiry of directorships; examination of compliance with the recommendations of the AFEP-MEDEF Code; review of the succession plan for company officers, in accordance with the applicable procedure; review of policies for the selection and appointment of members of the Group's corporate bodies. Specific work: review of a new profile, proposed by the majority shareholder, which led the Shareholders' General Meeting to appoint Olivier Gavalda to succeed Philippe Brassac as Director and Chairman of the Board; selection of the profile and recommendation to the Board, leading the Shareholders' General Meeting to appoint Jean-Christophe Mieszala to succeed Robert Leblanc, as a new independent director; study of new profiles proposed by the majority shareholder, which led the Board to co-opt Nicolas Mauré, Pierre Cambefort and Clotilde l'Angevin to succeed, respectively, Christine Grillet, Christian Rouchon and Bénédicte Chrétien; recommendations proposing changes to the composition of the specialised Committees in light of changes on the Board, with the aim of strengthening their governance and balance in terms of skills and diversity; analysis and follow-up of the ECB's Fit & Proper recommendations, particularly with regard to the number of offices held by directors. 2 CORPORATE GOVERNANCE Individual presentation of the Directors ‌Individual presentation of the Directors PIERRE CAMBEFORT Biography Pierre Cambefort is a graduate of Stanford and holds an engineering degree from the École Supérieure de Physique et de Chimie Industrielles de Paris. He began his career as a research and development engineer in the chemical sector (1989). He was a volunteer under the National Service for Companies (service national en entreprise) programme in Frankfurt (1990-1991). In 1991, he joined the Caisse Nationale de Crédit Agricole as an Inspector. Then in 1995, he moved to Caisse Régionale de Crédit Agricole de Paris et d'Île-de-France where he held various positions, first as Head of Risk Management and later in the credit development business, pf which he became Head in 2000. From 2002, he headed up the Marketing and Communication Department. In 2004 he joined Crédit Agricole S.A. as Head of Private Individual Markets department. He became Deputy Chief Executive Officer of Caisse Régionale Centre-Est in 2006. Pierre Cambefort was appointed Deputy Chief Executive Officer of Crédit Agricole CIB in 2010, a role he fulfilled until 2013. Since September 2013, he has been Chief Executive Officer of Caisse Régionale Nord Midi-Pyrénées. The Board benefits from his qualities and the expertise he has acquired through his experience in the banking and finance sectors , as well as his knowledge of the United States . Director Date of first appointment: 27/10/2025 Expiry of term: Ordinary General Meeting called to approve the financial statements for the year ended 31/12/2025 Age: 61 Nationality: French Business address: Caisse Régionale du Crédit Agricole Mutuel Nord Midi-Pyrénées 219 avenue François Verdier 81000 Albi Number of shares held: 200 Main areas of expertise Internal governance and compensation Accounting and financial information Social and Risk management, Asset management and financial markets Strategic planning Sales / Marketing Information Legal environmental issues compliance, internal audit technology and requirements and security regulatory framework Other offices and positions held as at 31/12/2025 In other listed companies Director, member of the Risks Committee and of the US Risks Committee of Crédit Agricole S.A. In Crédit Agricole group companies Chief Executive Officer of Caisse Régionale Nord Midi-Pyrénées Chairman and Chief Executive Officer of SAS Inforsud Gestion Director of SAS Rue La Boétie Director of SA...

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