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30 June 2016 2,194,705 3,245,517 348,468 186,698 5,975,388 2,626 5,978,014

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30 June 2016 2,194,705 3,245,517 348,468 186,698 5,975,388 2,626 5,978,014 Crédit Mutuel Arkéa Société Anonyme Coopérative de crédit à capital variable 1, rue Louis Lichou 29480 Le Relecq-Kerhuon Statutory Auditors’ review report on the half-year financial information For the period from January 1 to June 30, 2016 MAZARS DELOITTE & ASSOCIES 61, rue Henri Regnault 185 avenue Charles de Gaulle 92400 Courbevoie 92524 Neuilly-sur-Seine Cedex Crédit Mutuel Arkéa Société Anonyme Coopérative de crédit à capital variable 1, rue Louis Lichou 29480 Le Relecq-Kerhuon Statutory Auditors’ review report on the half-year financial information For the period from January 1 to June 30, 2016 This is a free translation into English of the statutory auditors’ report on the interim financial statements issued in the French language and is provided solely for the convenience of English speaking readers. The report must be read in conjunction and construed in accordance with French law and French auditing professional standards. Ladies and Gentlemen, In compliance with the assignment entrusted to us by your annual General Shareholder’s Meeting, and in accordance with the requirements of article L.451-1-2 III of the French monetary and financial code (Code monétaire et financier), we hereby report to you on : • the review of the condensed half-year consolidated financial statements of Crédit Mutuel Arkéa for the period from January 1st to June 30th, 2016 ; • verification of the information contained in the interim management report. These condensed half-year consolidated financial statements were prepared under the responsibility of the Board of Directors. Our role is to express our conclusion on these financial statements, based on our limited review. CREDIT MUTUEL ARKEA Consolidated financial statements at June 30, 2016 2 - I- Conclusion on the financial statements We conducted our review in accordance with professional standards applicable in France. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with professional standards applicable in France and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Based on our review, nothing has come to our attention that causes us to believe that the condensed half-year consolidated financial statements are not prepared, in all material respects, in accordance with IAS 34 - standard of the IFRSs as adopted by the European Union applicable to interim financial information. II- Specific verification We have also verified the information presented in the interim management report commenting the condensed half-year consolidated financial statements subject to our review. We have no matters to report as to its fair presentation and its consistency with the condensed half-year consolidated financial statements. Courbevoie and Neuilly-sur-Seine, August 29, 2016 The Statutory Auditors French original signed by Mazars Deloitte & Associés Charles de BOISRIOU Jean-Vincent COUSTEL CREDIT MUTUEL ARKEA Consolidated financial statements at June 30, 2016 3 - Consolidated financial statements at June 30, 2016 Balance sheet (In thousands of euros) 06/30/16 12/31/15 Assets Notes IFRS IFRS Cash, due from central banks 1 1,826,974 2,112,531 Financial assets at fair value through profit or loss 2 16,658,749 14,689,440 Derivatives used for hedging purposes 3 927,856 814,113 Available-for-sale financial assets 4 39,823,353 36,268,355 Loans and receivables due from banks 1 8,546,525 7,039,982 Loans and receivables due from customers 5 46,004,977 44,368,199 Remeasurement adjustment on interest-rate risk hedged portfolios 449,292 326,603 Held-to-maturity financial assets 141,527 151,544 Current tax assets 116,821 216,872 Deferred tax assets 66,573 93,885 Accruals, prepayments and sundry assets 2,604,410 2,221,532 Non-curent assets held for sale 0 0 Deferred profit-sharing 0 0 Equity method investments 219,531 207,534 Investment property 560,596 581,135 Property, plant and equipment 240,207 235,251 Intangible assets 422,570 336,192 Goodwill 6 542,438 448,633 TOTAL ASSETS 119,152,399 110,111,801 06/30/16 12/31/15 Liabilities Notes IFRS IFRS Due to central banks 7 0 0 Financial liabilities at fair value through profit or loss 8 773,959 570,479 Derivatives used for hedging purposes 3 649,095 504,095 Due to banks 7 6,821,565 6,455,557 Customer accounts 9 46,407,976 41,450,622 Debt securities 10 13,634,533 13,779,820 Remeasurement adjustment on interest-rate risk hedged portfolios 58,997 19,229 Current tax liabilities 144,122 163,170 Deferred tax liabilities 196,084 133,466 Accruals, deferred income and sundry liabilities 4,419,563 3,296,487 Liabilities associated with non-current assets held for sale 0 0 Insurance companies' technical reserves 11 38,793,040 37,214,272 Provisions 12 379,102 366,385 Subordinated debt 896,349 381,953 Total equity 5,978,014 5,776,266 Shareholders' equity, group share 5,975,388 5,773,723 Share capital and reserves 2,200,143 2,202,620 Consolidated reserves 3,240,079 2,980,801 Gains and losses recognised directly in equity 348,468 293,987 Net income 186,698 296,315 Minority interests 2,626 2,543 TOTAL LIABILITIES 119,152,399 110,111,801 CREDIT MUTUEL ARKEA Consolidated financial statements at June 30, 2016 4 - Consolidated financial statements at June 30, 2016 Income statement (In thousands of euros) 06/30/16 06/30/15 Notes IFRS IFRS Interest and similar income 14 941,347 1,019,004 Interest and similar expense 14 (651,321) (690,132) Fee and commission income 15 288,836 303,564 Fee and commission expense 15 (101,467) (88,042) Net gain (loss) on financial instruments at fair value through profit or loss 16 13,840 2,686 Net gain (loss) on available-for-sale financial instruments 17 77,311 20,918 Income from other activities 18 3,332,469 3,363,050 Expense from other activities 18 (2,964,590) (3,016,039) Net banking income 936,425 915,009 General operating expenses 19 (606,421) (587,671) Depreciation, amortisation and impairment of property, plant and equipment and intangible assets (50,887) (46,615) Gross operating income 279,117 280,723 Cost of risk 20 (26,041) (46,894) Operating income 253,076 233,829 Share of earnings of companies carried under equity method 4,959 1,382 Net income on other assets 21 (3,183) 5,796 Goodwill variations 0 0 Pre-tax income 254,852 241,007 Income tax 22 (68,144) (90,568) After-tax income from discontinued or held-for-sale operations 0 0 NET INCOME 186,708 150,439 O/w Minority interests 10 393 NET INCOME - GROUP SHARE 186,698 150,046 Statement of net income and gains and losses recognised directly in equity (In thousands of euros) 06/30/16 06/30/15 Notes IFRS IFRS Net income 186,708 150,439 Actuarial gains and losses on defined-benefit plans (7,161) (2,910) Gains and losses non recognised directly in equity for companies accounted for by the equity( method 10 (155) Items not to be recycled in profit and loss (7,151) (3,065) Revaluation of available-for-sale financial assets 50,044 17,618 Revaluation of derivative hedging instruments 4,826 5,902 Gains and losses recognised directly in equity for companies accounted for by the equity method( 6,762 5,725 Items to be recycled in profit and loss 61,632 29,245 Total gains and losses recognised directly in equity 54,481 26,180 Net income and gains and losses recognised directly in equity 241,189 176,619 O/w group share 241,179 176,228 O/w minority interests 10 391 CREDIT MUTUEL ARKEA Consolidated financial statements at June 30, 2016 5 - CHANGE IN SHAREHOLDERS’ EQUITY (In thousands of euros) Total gains and losses Total Minority Share Net income, Reserves recognised equity, interest in Total equity Capital group share directly in group share equity equity Position at 1 January 2015 2,211,473 2,758,102 223,558 269,469 5,462,602 5,734 5,468,336 Capital increase (17,296) (17,296) (17,296) Elimination of own shares 0 0 Issuance of preferred shares 0 0 Equity components of hybrid instruments 0 0 Equity components whose payment is share-based 0 0 Allocation of the previous year income 269,469 (269,469) 0 0 Dividend paid in 2015 in respect of 2014 (40,911) (40,911) (1,305) (42,216) Change in equity interests in subsidiaries with no loss of control 184 184 (13) 171 Subtotal of movements related to relations with shareholders 2,194,177 2,986,844 223,558 0 5,404,579 4,416 5,408,995 Changes in gains and losses recognised directly in equity 26,183 26,183 26,183 First half of 2015 net income 150,046 150,046 393 150,439 Subtotal 2,194,177 2,986,844 249,741 150,046 5,580,808 4,809 5,585,617 Impact of acquisitions and disposals on minority interests 1,418 1,418 1,418 Share of changes in shareholders’ equity of equity method associates and joint ventures (1,550) (1,550) (1,550) Change of accounting methods 6,646 6,646 9 6,655 Other changes (87) (87) 2 (85) Position at 30 June 2015 2,194,177 2,993,271 249,741 150,046 5,587,235 4,820 5,592,055 Capital increase 3,005 3,005 3,005 Elimination of own shares 0 0 Issuance of preferred shares 0 0 Equity components of hybrid instruments 0 0 Equity components whose payment is share-based (6,894) (6,894) (2,038) (8,932) Allocation of the previous year income 0 0 Dividend paid in 2015 in respect of 2014 0 0 Change in equity interests in subsidiaries with no loss of control (184) (184) 1 (183) Subtotal of movements related to relations
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