BPCE, the 2Nd LARGEST BANKING

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Chairman of the Management Board of BPCE '3"/±0*41²30-

FRANÇOIS PÉROL, WHO HAS BEEN LEADING GROUPE BPCE SINCE ITS CREATION IN +6-Y 2009, GIVES HIS VIEW OF 2011. THE GROUP, WHICH HAS NOW REFOCUSED ON ITS CORE BUSINESS LINES AT THE SERVICE OF ITS CUSTOMERS AND THE FRENCH ECONOMY, ENDED 2011 WITH ROBUST RECURRING RESULTS AND ENHANCED CAPITAL ADEQUACY

)Pw do you rBUe 20 and 4QFDJBMJ[ed Financial 4FSvices division are continuing 'or Groupe BPCE, 1 Xas a Zear of consolidation Gor both to HSPX. 4ynergies CFUXeen Group entities are being its commercial and m nancial results. Despite the unpre- EFWeloped at a rate that FYceeds FYQFDUations and, since EJDUBCMFFDPOPNJDBOEmOBODJBMFOWJSPONFOU PVS(SPVp +uly 09, the #anque 1opulaire banks, Caisses d’Epargne EFNPOTUSBUFE the SFMFWance of the strategic PCKFDUJWes and Natixis IBWe generated additional income Xorth more it has been pursuing since 09. 5he results are there to than é0 million Cy Xorking more, and more FGm ciently, QSPWe it. 5IFy consolidate #1$&s position as the second UPHFUIFS. At the same time, cost TBvings BDIJFWed from the largest banking group in 'rance with a more robust m nan- QPPMJOHPGJOGPSNBUJPOTZTUFNT QSPDFTTFTBOEPSHBOJ[B cial TUSVDUure, FGm cient SFUail banking OFUXorks, the contin- UJPOBMTUSVDUVSFTDBNFUPBUPUBMPGéNJMMJPO ued SFDPWFSy of Natixis and aggregate net banking income BUUSJCVUable to FRVJUy holders of the parent) of €2.6 billion, 8IFSe does Groupe BPCE stand in tFSms of capital the second largest result of its kind in the entire 'SFODh BEFRVBDZ banking industrZ 8FXJMMBDIJFWFUIF+VOFUBSHFUTFUGPSCBOLTCZUIe If net income is EPwn compared with 0, it is because &VSPQFBOBVUIPSJUJFT8JUIBDBQJUBMBEFRVBDZSBUJPPG% it bears the OFHBUJWe impact of non-operating items Gor a BU UIF FOE PG %FDFNCFS XF POMZ OFFE UP HFOFSBUe UPUal of €723 million, including €595 million Gor the JNQBJS DBQJUBM GPS B UPUBM PG é NJMMJPO CZ +VOF PVU PG UIe ment of Greek TPWereign debt. "djusted to account Gor éCJMMJPOJOJUJBMMZSFRVJSFEUPBDIJFWFUIJTUBSHFU"OEXFXJMl these items, net income TUands at €3.4 billion, EPwn only BMTPCFDPNQMZJOHXJUI#BTFM***DBQJUBMSFRVJSFNFOUTJO. 6.7% compared with 0, an BDIJFWement that SFnects 8FBSFBMTPBIFBEPGTDIFEVMFJOUIFJNQMFNFOUBUJPOPGPVr the strong commercial and operational QFSGormance of our EFCUSFEVDUJPOQSPHSBN"OEMBTUMZ XFIBWFBMTPBDIJFWFd core business lines. Our net banking income is up .4% BOd TVCTUBOUJBM JNQSPWFNFOUT JO PVS GVOEJOH TJUVBUJPO XIJDh PVSPQFSBUJOHJODPNFFOKPZFEHSPXUI5IFBDUJWJUJFs JTCBTFENPSFPOPVSDVTUPNFSTBOEJTMFTTEFQFOEFOUPn PG UIF $PNNFSDJBM #BOLJOH BOE *OTVSBODF EJWJTJPO IBWe TIPSUUFSNmOBODJOH8FIBWFTVDDFTTGVMMZCFHVOUPNBLe BMM TUSFOHUIFOFE UIFJS DVTUPNFS CBTFT5IF $PSQPSBUe UIFBEBQUBUJPOTSFRVJSFEPGVTCZUIFSFHVMBUPSZBVUIPSJUJFT BOE *OWestment #anking arm has demonstrated the rele- Wance of its business model, and the *OWestment Solutions What are the fBDUors underlying this perfPSNBODF 5IFGBDUPSTESJWJOHUIJTQFSGPSNBODFBSFDIJFnZEFSJWFEGSPm OUR RESULTS REFLECT THE ROBUST UIF CBTJD PCKFDUJWFT BEPQUFE JO XJUI PVS i5PHFUIFS” TUSBUFHJDQMBO8FEFDJEFEUPEFWPUFBMMPVSSFTPVSDFTUPPVr PERFORMANCE OF OUR CORE DVTUPNFST XIJDINFBOUEJTDPOUJOVJOHPVSTQFDVMBUJWFQSPQSJ BUSINESS LINES. WE WILL BE ABLE FUBSZUSBEJOHBDUJWJUJFT5IJTXBTBTJHOJmDBOUTIJGUJOGPDVTBOd UIF(SPVQJTJONVDICFUUFSTIBQFCFDBVTFPGJU%PJOHPVSKPb TO COMPLY WITH THE BASEL III BTBCBOLFSBOEJOTVSFSGPSUIFCFOFmUPGPVSDVTUPNFSTBOd i $"1*5AL REQUIREMENTS IN 2013.w UIF'SFODIFDPOPNZBTBXIPMFJTUIFFTTFOUJBMNJTTJPOPGa *3 I

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What are your gPBMT In 2 and 3, Xe are going to continue our ESJWe to adapt our organization and pursue the goals Xe set PVS TFMWes in our i5PHFUIFSwstrategic plan, namely: to build a major DPPQFSBUJWe banking group entirely and FYclu- TJWely EFWoted to its customers and to its core business activities as a CBOLer and JOTVSFS, a major banking group that is TUable, TVTUainable, QSPviding its support Gor the EFWelopment of the 'SFODh FDPOPNy and its regions and, also, capable of EFWeloping its activities in the Xorld CFZond its original borders.

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Founded in 2009, Groupe BPCE serves a total of 36 million customers, 8.1 million of whom have also chosen to become cooperative shareholders of their individual banks. The Group has 117,000 employees and accounts for 20% of the drive to ﬁ nance the French economy.

(3061$&16346&4"-L services arm, a publicly listed company 5)&%*''&3&/5"$5*7*5*&40F on the Paris stock exchange. "#"/,*/("/%*/463"/$E 41&$*"-*455)306() The central institution – BPCE – deﬁ nes the strategy and assumes responsibility The cooperative retail banking for the control and coordination of networks comprised of the Group. All the credit institutions the 19 Banque Populaire banks afﬁ liated to BPCE are covered by a and 17 Caisses d’Epargne; guarantee and solidarity mechanism.

A number of subsidiaries including Groupe BPCE is driven by the Crédit Foncier, Banque Palatine, ambition to bring together the banking BPCE International and Outre-mer, institutions preferred by the French and and Natixis, the Group’s specialized their companies thanks to the quality corporate and investment banking, of the advice, support and service asset management and ﬁ nancial provided to their customers.

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Groupe BPCE

8.1 million cooperative shareholders

80% 80%(1)

19 Banque 17 Caisses Populaire banks d’Epargne 50% 50% 20% 20% (CICs(2)) Commercial Banking BPCE (CICs(2)) and Insurance subsidiaries Central institution Equity interests

• Crédit Foncier de France (100%) 72.4% • Nexity (41.8%)(5) • Banque Palatine (100%)(3) • BPCE International and Outre-mer (100%) Natixis • Coface (100%) • BPCE Assurances (46.4%)(4)

27.6%

Free ﬂoat

Commercial Banking and Insurance (1) Indirectly through local savings companies. (4) With the equity interest held by the Caisses d'Epargne (2) CICs: Cooperative Investment Certiﬁcates in BPCE Assurances, the Group owns a 60% stake in the CIB, Investment Solutions (economic interests, no voting rights). company. and Specialized Financial Services (3) With the equity interest held by Crédit Foncier de France (5) 7JBCE Holding Promotion. in Banque Palatine, the Group owns a 100% stake in the company.

20% of the drJWe to ﬁnance the FSFODh economy is funded by banks belonging to Groupe BPCE

.PSe than one out of every two FSFODh people IBWe chosen a Groupe BPCE bank

High level expertise aWailable to the grFBUest number at the loXest possible cost

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&"3/*/(4 (IN MILLIONS OF EUROS) 2011 2011 / Net banking income +1.4% Gross operating income Income before tax -18.7% Net income attributable to equity holders of the parent -26.6% Net income attributable to equity holders -6.7% of the parent excluding non-operational items

(1) Pro forma to account for the disposal of Eurosic and Foncia in June and July 20

BUSINESS PERFORMANCE (IN BILLIONS OF EUROS) é CJMMJPO 12/31/2009 12/31/2010 12/31/2011 million custPNFST

BANQUE POPULAIRE AND CAISSE D’EPARGNE RETAIL NETWORKS(IN BILLIONS OF EUROS)

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12/31/2009 12/31/2010 12/31/2011 12/31/2009 12/31/2010 12/31/2011 12/31/2009 12/31/2010 12/31/2011

FINANCIAL STRUCTURE (IN BILLIONS OF EUROS) Core 5JFS-1 capital Core 5JFS-1 ratio 12/31/2011 12/31/2011 9.1 12/31/2010 12/31/2010 12/31/2009 12/31/2009 5JFS-1 capital 5JFS-1 ratio 12/31/2011 12/31/2011 12/31/2010 12/31/2010 12/31/2009 12/31/2009 1 &Ruity attributable to equity holders of the parent Capital adeqVBDy ratio million 12/31/2011 12/31/2011 11.6 12/31/2010 12/31/2010 DPPQFSBUJWe 12/31/2009 12/31/2009

(1) 200 capital and capital ratios pro-forma of the full reimbursement of the FSFODh State – Core 5JFS-1 capital: €31.9 billion, 5JFS-1 capital: €38.8 billion, TIBSFIPMEFST Core 5JFS-1 ratio: 8.0%, 5JFS-1 ratio: 9.7%, and capital adequacy ratio: 1 *7 I

/*$0-"S DUHAMEL $0/53*#65*0/1&3$03E Chief Financial Ofm cer #64*/&44-*/& Member of the BPCE Management BPBSE i'03*545)*3%'*/"/$*"L Net banking JODPNF :&"3 063(3061)"40/$E "("*/%&.0/453"5&D *54453&/(5)y“

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Standard & Poor’s A A-1 Stable Long-term rating Moody’s Aa3 P-1 under review Fitch Ratings A+ F1+ Negative

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The central institution of Groupe BPCE is a French joint stock company TPDJÏUÏBOPOZNF governed by a Management Board and a Supervisory Board. The role of the Supervisory Board is to maintain constant oversight over the managerial activities of the Management Board. This oversight includes monitoring the appropriateness of actions taken and their regulatory compliance. The cooperative shareholders are represented on the Supervisory Board by the Chairmen of the Banque Populaire bank Boards of Directors and by the Chairmen of the Caisses d’Epargne Steering and Supervisory Boards.

5IF4VQFSWJTPSZ#PBSEJTDPNQSJTFd 5ISFFTQFDJBMJ[FEDPNNJUUFFs PGNFNCFST BTTJTUUIF4VQFSWJTPSZ#PBSEJOJUs EFMJCFSBUJPOTBOEEFDJTJPOT Q 14 representatives of the Caisses d’Epargne and the Banque Populaire banks ; Q the Audit and Risks Committee, chaired by Marwan Lahoud, Q 4 independent members. an independent member; Q the Appointments and Remuneration Committee, chaired by Laurence Danon, an independent member; Q the Cooperative Committee, chaired by Philippe Dupont.

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:Wes 5PVCMBOD 4UÒWe Gentili Chairman Vice-Chairman

3FQSFTFOUBUJWFTPf 3FQSFTFOUBUJWFs *OEFQFOEFOUNFNCFST UIF#BORVF1PQVMBJSFCBOLT PGUIF $BJTTFTE&QBSHOF Maryse "VMBHOPO (ÏSBSd Bellemon $BUIFSine Amin-GarEF Chief ExFDVUJWe Ofm cer and ChairXoman Chairman of the $IBJSXPNBOPGUIF4UFFSJOHBOE4VQFSWJTPSZ#PBSd of the "Gm ne Group #anque Populaire 7al de FSBODF PGUIF$BJTTFE&QBSHOF-PJSF%SÙNF"SEÒDIF -BVSence DBOPO resident of the Ex e Board 5IJFSry Cahn #FSOBSd Comolet 1 FDVUJW of Edmond de RPUITDhild Corporate Finance Chairman of the Chairman of the Management Board of the #anque Populaire d’"MTBDF Caisse d’Epargne Ile-de-FSBODF .BSXan Lahoud Director of Strategy and Marketing and member +ean CrJUPO 'Sancis Henry of the ExFDVUJWe Committee of EADS Chief ExFDVUJWe Ofm cer of the $IBJSNBOPGUIF4UFFSJOHBOE4VQFSWJTPSZ#PBSEPf #anque Populaire Rives de PBSJT UIF$BJTTFE&QBSHOF-PSSBJOF$IBNQBHOF"SEFOOF .BSie-Christine LombarE Chief ExFDVUJWe Ofm cer 1JFSSe DesvFSHOFT 1JFSSe MacLJFXJD[ and ChairXoman of TNT Express Chairman of the Chairman of the Steering and SuperWJTPSy Board $"SDEN Banque PPQVMBJSF of the Caisse d’Epargne Côte d’"[VS 5IFGPMMPXJOHBUUFOE#PBSd Philippe Dupont Didier PBUBVMU NFFUJOHT 'ormer Chairman Chairman of the Management Board of the of Groupe Banque PPQVMBJSF Caisse d’Epargne Bretagne PBZs de LPJSF +ean-Luc DébarSF #FSOBSd JFBOOJO 1JFSSe 7BMFOUJO 1JFSSe-Éric RandrJBOBSJTPB Chief ExFDVUJWe Ofm cer of the Chairman of the Steering and SuperWJTPSy Board 3FQSFTFOUBUJWes #anque Populaire Bourgogne FSBODhe-Comté of the Caisse d’Epargne Languedoc-RPVTTJMMPO of the BPCE 8orks Council

(1) Member of the Cooperative CommitUFF (2) Member of the Appointments and Remuneration CommitUFF (3) Member of the "udit and Risks CommitUFF *9 I

58026&45*0/4'03y

YVES TOUBLANC, CHAIRMAN OF THE SUPERVISORY BOARD OF BPCE SINCE JANUARY 1TU, 2012, AND PHILIPPE DUPONT, OUTGOING CHAIRMAN AND MEMBER OF THE SUPERVISORY BOARD, TAKE STOCK OF THE PAST YEAR AND LOOK TO THE FUTURE.

8)"T MAIN LESSONS CAN :OU DRAW FOR GROUPE BPCE FROM THE P"4T FINANCIAL :&"3

:WFT5PVCMBODXBTBZFBSPGDSJTJTBOd VODFSUBJOUZ5IF TPWFSFJHO EFCU DSJTJT XIJDh DSFBUFE B QSFWBJMJOH NPPE PG EJTUSVTU USJH HFSFEBMJRVJEJUZDSJTJTUIBUDBNFUPBDMJNBx JO UIF BVUVNO5IF &VSPQFBO SFHVMBUPSZ BV UIPSJUJFT CSPVHIU GPSXBSE UIF UJNFUBCMF GPr JNQMFNFOUJOH UIF #BTFM *** SFGPSNT UJHIUFO JOH VQ UIF SFHVMBUPSZ SFRVJSFNFOUT PO CPUh YVES 506#-"/$ PHILIPPE DUPONT MJRVJEJUZ BOE DBQJUBM BEFRVBDZ "HBJOTU UIJs YVES 506#-"/$ PHILIPPE DUPONT CBDLHSPVOE BMM UIF EJGGFSFOU DPNQPOFOUT Pf 8)"51"35*$6-"3'&"563&48*--#E our DBQBDJUy to adapt and to respond. In an (SPVQF #1$& XPSLFE UP DPNQMZ XJUI UIFTe 5)&,&:453&/(5)40'(3061$E economic climate that NBy become more OFXSFRVJSFNFOUTXIJMFTJNVMUBOFPVTMZDPO */5)&'6563& serene, Xe will be in a position to demon- UJOVJOHUPQMBZBGVMMSPMFJOBOEPOCFIBMGPf strate with FWen greater Gorce the SFMFWance UIFFDPOPNJDDPNNVOJUZ*UBMTPQVSTVFEUIe :WFT5PVCMBOD5IF(SPVQJTDPNQSJTFEPGUXo of our business model. TJNQMJmDBUJPOPGJUTTUSVDUVSFTCZTFMMJOHJOUFS DPPQFSBUJWF CBOLJOH OFUXPSLT UIF #BORVe FTUTJOQFSJQIFSBMBDUJWJUJFTUIBUOPMPOHFSGPSm 1PQVMBJSF CBOLT BOE UIF $BJTTFT E&QBSHOF, Philippe %VQPOU5he most EJGm cult part of QBSUPGJUTDPSFCVTJOFTTFT*OUIFTFDPNQMJ BOEBOVNCFSPGTQFDJBMJ[FETVCTJEJBSJFT5IFZ the VOJm cation is OPw behind us. 5he merger DBUFE DPOEJUJPOT (SPVQF #1$& XBT BCMF Uo BSF UIF (SPVQT TIBSFIPMEFST BOE BGUFS a is WJSUually complete. 5he FGGorts made to cre- QPTUSFTVMUTUIBUUFTUJGZUPJUTSFDPWFSZ TIPSUPCTFSWBUJPOQFSJPE UIFZIBWFOPXKPJOFd ate our OFw Group IBWe borne GSuit. 8e need GPSDFTJOBSFBMDPNNVOJUZPGJOUFSFTUT5IBOLs to continue along this path, while remaining Philippe %VQPOU I Xould add that BPCE UPPVSDPPQFSBUJWFTUBUVT XFDBODPOTPMJEBUe Gaithful to our original model, XIJDh is to has UPEBy become a QPXerful and solid m PVSDBQJUBMUPBIJHIEFHSFFCZIPMEJOHBTJHOJm QSFTFSWF UIF CBTJD SFTQPOTJCJMJUZ PG PVr nancial JOTUJUution, 'SBODFs second largest DBOUQSPQPSUJPOPGPVSFBSOJOHTJOSFTFSWFBOd SFHJPOBM $BJTTFT E&QBSHOF BOE #BORVe banking FOUJUZ, a GVOEBNFOUal QMBZer helping BMMPXJOH UIF DPPQFSBUJWF TIBSFIPMEFST XIo 1PQVMBJSF CBOLT5IFZ IBWF GPSHFE DMPTe to m nance the 'SFODh FDPOPNy on behalf of TVCTDSJCFUPPVSDPPQFSBUJWFTIBSFJTTVFT Uo SFMBUJPOships with their customers and coop- its customers with undisputed synergies DPOUJOVF UP TVQQPSU PVS EFWFMPQNFOU *O SF FSBUJWe shareholders, and that is their strength. CFUXeen its OFUXorks and a presence in all UVSO UIFDPNQBOZOFFETUPEPFWFSZUIJOHJn But UIFy also need to do FWen more to UBLe NBSLet sectors. Despite the Uurbulence Xe JUTQPXFSUPPGGFSJUTDVTUPNFSTUIFCFTUBOd full BEWBOUage of the TBvings and TZOFS IBWe encountered, OPUably in the DPOUFxt of NPTU SFTQPOTJWF RVBMJUZ PG TFSWJDF QPTTJCMF, gies that the grouping together of the UXo the Greek crisis, Xe are OPw more QPXerful BOEUPQVSTVFJOJUJBUJWFTJOGBWPSPGUIFSFHJPOs OFUXorks can PGGFS. I EJEOt think that things and solid together than Xe FWer Xere indi- BOE UIF 'SFODI FDPOPNZ BT B XIPMF *U DBn Xould go so RVJDLMZ. 8e IBWe BDIJFWed more WJEVBMMZ. At the same time, Xe are also wit- UBLFBMPOHUFSNQFSTQFDUJWFPOUIJTQSPDFTs than half the synergies planned Gor the nessing the gradual emergence of a TQFDJm c CFDBVTF XIJMFFOTVSJOHHPPEQSPmUMFWFMT JUJs end of 2. 5his QSPWes that Xe can m nd a BPCE DVMUure. 5his UBLes time and a DFSUain JOBQPTJUJPOUPQVSTVFJOJUJBUJWFTUIBUUBLFBD balance CFUXeen TVCTJEJBSJUy and centrali- degree of self-denial, along with a DPOTUant DPVOUPGUIFQVCMJDJOUFSFTU0VSBDUJWJUJFTBSe zation. In short, Groupe BPCE is a robust willingness on the part of the Management DMFBSMZ EFmOFE CBOLJOH BOE JOTVSBODF BOd m nancial JOTUJUution. Our road map Gor 3 is and 4VQFSWJTPSy #oards to GBDJMJUate an amal- OPUIJOH FMTF 4P XF DBO DPODFOUSBUF BMM PVr designed to ensure a DPNGPSUable degree of gamation of the UXo DVMUures. 8e IBWe made GPSDFTBOEFGGPSUTJOUIBUEJSFDUJPO. DBQJUal adequacy and Xe IBWe the resources considerable progress, and this will become In Dhallenging conditions QVODUuated Cy a to comply with DBQJUal requirements TDhed- clearer oWer time. succession of crises, Xe IBWe demonstrated uled for mid-202 and 20 * 10 I SENIOR MANAGEMENT

$03103"5&(07&3/"/$&

'3"/±OIS PÉROL /*$0-"S DUHAMEL OLIVIER KLEIN

ANNE MERCIER-GALLA: -"URENT MIGNON PHILIPPE QUEUILLE '3"/±OIS RIAHI

Q BPCE is the central institution common to the Banque Populaire banks and the Caisses d’Epargne. The principal retail banking subsidiaries and their production entities are affiliated to it. BPCE owns a direct interest of more than 70% in the capital of Natixis. Q BPCE defines the strategy pursued by the Group and its networks; it coordinates the sales policies and takes all measures enabling it to oversee the Group with respect to its liquidity, capital adequacy, risk management and internal control procedures. It also represents the Group and its networks as an employer. 5)&(&/&3"-."/"(&.&/5$0..*55&& 5)&&9&$65*7&$0..*55&& The General Management Committee is comprised of seven members, including The Executive Committee includes the five members of the BPCE Management Board appointed by the Supervisory the members of the General Board. The General Management Committee is chaired by the Chairman of the Management Committee in addition to: Management Board. (ÏSaud Brac de la PFSSJÒSF 'Sançois PÏSPM %JSFDUPS, Internal "udit Department Chairman of BPCE Management BPBSE $ISistiane ButUF Nicolas Duhamel %JSFDUPS, Corporate Legal Department Member of the Management Board – Chief ExFDVUJWe Ofm cer , Finance and General SecretBSZ Olivier Klein #Suno DeletrÏ .FNCFSPGUIF.BOBHFNFOU#PBSEo$IJFG&YFDVUJWF0GmDFS $PNNFSDJBM#BOLJOHBOE*OTVSBODF $IJFG&YFDVUJWF0GmDFSPG$SÏEJU'PODJFSEF'SBODF Anne MerDJFS-GallaZ Isabelle Maury Member of the Management Board – Chief ExFDVUJWe Ofm cer , Human RFTPVSDFT %JSFDUPS, Corporate Risk Management Department -BVSent Mignon -BVSence MaZ Chief ExFDVUJWe Ofm cer of Natixis %JSFDUPS, Corporate Compliance and Security Department Philippe Queuille Member of the Management Board – Chief ExFDVUJWe Ofm cer , Operations :Wes MessarPWJUDI %JSFDUPS, Corporate Communications Department 'Sançois Riahi %FQVUy Chief ExFDVUJWe Ofm cer , Strategy

(1) 5he FSFODh title of directeur général (here translated as “Chief ExFDVUJWe Ofm cer”) should not be construed in the legal sense used in article L. 225-66 of the FSFODh Commercial Code. 453"TEGIES * 11 I

063453"5&(*C 30"%."1'03 130(3&443&1035

GROUPE BPCE’S STRATEGIC PLAN SHOWS THE W"Y FORWARDS FOR A GROUP THAT IS CLOSER TO ITS CUSTOMERS, MORE ENTERPRISING, AND MORE EFFICIENT. 2011 REPRESENTS AN IMPORTANT STAGE IN THE CONSTRUCTION OF THE GROUP AND THE ACHIEVEMENT OF ITS PLANS FOR 2013. ALL THE DIFFERENT PROJECTS ARE ON COURSE AND PRODUCING THE EXPECTED COST AND INCOME SYNERGIES.

PHFUIFS w(SPVQF#1$&TTUSBUFHJDQMBn order to enhance satisfaction and maintain i MBVODIFEJO VOJUFTBMMJUTCVTJOFTT MPZBMUZ 5 FTJOUIFQVSTVJUPGBDPNNPOPCKFDUJWF: Other TQFDJBMJ[ed brands complete the UP TFSWF UIFJS DVTUPNFST BOE UP EP TP FWFn scope of the Group: Crédit 'PODJFS, a major CFUUFSUPHFUIFS UIBOLTUPUIFXFBMUIPGUIFJr real FTUate m nance JOTUJUution, #anque 1ala- FYQFSUJTF BOE UBMFOU BOE UIF RVBMJUZ BOE FGm tine, a m nancial JOTUJUution specializing in '063(6*%*/(13*/$*1-&S DBDZPGUIF(SPVQTDPNCJOFESFTPVSDFT5Ie business customers and high-net-worth indi- TZOFSHJFTHFOFSBUFECFUXFFO/BUJYJTBOEUIe viduals, and Zet other TFDUPS-based or re- $PNNJUUJOH SFUBJMOFUXPSLT UIFQPPMJOHPGSFTPVSDFT BOBM gional institutions. ZTFTBOEHPPEQSBDUJDFT UIFTIBSJOHPGEFWFM 5IF (SPVQT PGGTIPSF BDUJWJUJFT GPSN QBSU Pf to an approach based on sustainable PQNFOU JOWFTUNFOU BOE JOOPWBUJPO UPHFUIFr #1$& *OUFSOBUJPOBM FU 0VUSFNFS UIF IPMEJOg performance and long-term vision. DPNCJOFUPDSFBUFNPSFWBMVFGPSDVTUPNFST, DPNQBOZ SFTQPOTJCMF GPS TVQFSWJTJOH (SPVQe JODSFBTFUIFJSTBUJTGBDUJPOBOEUIFSFCZHFOFS #1$&TJOWFTUNFOUTJOUIFJOUFSOBUJPOBMNBSLFt %FWFMPQJOH BUFOFXHSPXUIBOEQSPmUT BOE'SFODIPWFSTFBTUFSSJUPSJFT. a culture of service by placing advice and /BUJYJT IBT SFGPDVTFE JUT TUSBUFHZ UP DPODFO relationships at the very heart of the Group’s THE GROUP’S CORE BUSINESS USBUFPOJUTDVTUPNFSTCZEFWFMPQJOHDSPTTTFMM activities. LINES FOCUSED ON THEIR JOHXJUIJUTDMJFOUTBOEHFOFSBUJOHDPNNFSDJBl $645OMERS TZOFSHJFTXJUIUIF(SPVQTSFUBJMOFUXPSLT 1SPNPUJOH Groupe BPCE has continued its SFGocusing initiative and the entrepreneurial spirit. process Cy concentrating its EFWelopment 5OGETHER, CLOSER 1SJPSJUJ[JOH on its core business lines and customer acti- 5O OUR CUS50.&34 vities, XIJDh contribute directly to BUtracting "MMUIF(SPVQTFOUJUJFTBSFQSJPSJUJ[JOHRVBM proximity and taking advantage of diversity to TBvings and m nancing the FDPOPNy: Com- JUZPGTFSWJDFBOEDVTUPNFSSFMBUJPOTXJUIa express the full potential of a cooperative Group. mercial #anking and Insurance; Corporate WJFXUPUBLJOHUIFNUPUIFIJHIFTUQPTTJCMe and *OWestment #anking; *OWestment Solu- MFWFM5IFZBSFBMMBDUJWFMZQVSTVJOHBTUSBU tions, and Specialized Financial Services. FHZUPBUUSBDUBOESFUBJODVTUPNFSTCZEF O 5IF #BORVF 1PQVMBJSF CBOLT IBWF NBEe WFMPQJOH OFX DVTUPNFS SFMBUJPO DIBOOFMT, TVQQPSUJOH BUUSBDUJOH BOE SFUBJOJOH DVTUPN JOPSEFSUPCVJMEUIFCBOLPGUIFGVUVSF FSTPWFSUIFMPOHUFSNUIFJSQSJPSJUZJOHBJOJOg QSPmUBCMFNBSLFUTIBSF 5OGETHER, MORE ENTERPRISING O The Caisses d’Epargne have made it their 5IF(SPVQDBOSFMZPOBCFESPDLPGTUSPOg priority to revitalize their business and inten- GVOEBNFOUBMTUPTFSWFNPSFFGGFDUJWFMZUIe sify their relations with their customers in OFFET PG WFSZ TNBMM TNBMM BOE NFEJVN * 12 I STRA5&(*&4

TJ[FECVTJOFTTFTBUUIFDSJUJDBMTUBHFTJOUIFMJGFPGDPN PS OBUJPOBM DPPQFSBUJPO UIF PQUJNJ[BUJPO PG JOGSBTUSVD QBOJFTBOECVTJOFTTDSFBUPST*UJTTUFQQJOHVQJUTJOWPMWF UVSFTBOEJOGPSNBUJPOTZTUFNTUBSHFUéCJMMJPOJn NFOUJOFDPGSJFOEMZHSPXUI XIFSFJUBJNTUPCFDPNFUIe DPTUTZOFSHJFT CFODINBSLCBOLJOHJOTUJUVUJPOJOUIJTTFHNFOU*UJTBMTo Human rFTPVSces efmDJFODZ EFWFMPQJOHMPBOTZOEJDBUJPOTCFUXFFOUIF(SPVQTCBOLs 5he success of the (SPVQs project depends upon the BDUJWe JOPSEFSUPNPCJMJ[FMBSHFSmOBODFQBDLBHFTGPSDPNQBOJFs commitment of its personnel. Groupe BPCE is introducing BOEDPNNVOJUJFT a VOJmed management TUSVDUure Gor senior FYFDVUJWes and OFw human resources policies with the aim of becoming 5OGETHER, MORE EFFECTIVE one of FSBODFs model emploZFST 5PQSPWJEFUIFJSDVTUPNFSTXJUIUIFTFSWJDFTBOEmOBODe PSJOWFTUNFOUTPMVUJPOTUIFZOFFE UIF(SPVQTSFUBJMOFU SOLID RESUL54 XPSLTESBXPOUIFFYQFSUJTFPG/BUJYJT Groupe BPCE is in NBSDhing order and ahead of TDIFEVMF 5IJT BQQSPBDI NBJOUBJOT UIF DMPTF SFMBUJPOTIJQ UIBt JO UIF JNQMFNFOUBUJPO PG JUT TUSBUFHJD QMBn DVTUPNFST BQQSFDJBUF BOE CSJOHT UIFN UIF CFOFmUT Pf i5PHFUIFSw QPPMFE SFTPVSDFT NPSF JOOPWBUJPO HSFBUFS FYQFSUJTe BOE DPNQFUJUJWFOFTT UIBOLT UP PQUJNJ[FE PSHBOJ[BUJPn Revitalization of Commercial Banking and InsurBODF BOEQSPDFTTFTBOEUIFVOJmDBUJPOPGJOGSBTUSVDUVSFTBOd The focus on attracting new customers and intensifying JOGPSNBUJPO TZTUFNT5IJT TIBSJOH PG SFTPVSDFT DPOUSJC relations is SFn ected in a 2.5% rise in the active customer VUFTUPUIFRVBMJUZPGUIF(SPVQTPGGFSJOHTJODPOTVNFr base of the Banque Populaire banks and a 3.2% rise for DSFEJU JOTVSBODF BTTFUNBOBHFNFOU GBDUPSJOH QSPQFSUy the Caisses d’Epargne. The commercial dynamism of the MFBTJOHBOENBOZPUIFSTFSWJDFT retail networks has resulted in a 9% increase in revenues *U BMTP NBLFT JU QPTTJCMF UP TVQQPSU BOE mOBODF NBny in non-life insurance, 13% in health and 18% in provident MBSHFTDBMFSFHJPOBMQSPKFDUTGPSFYBNQMF UIF(SPVQIBs insurance. Life insurance attracted net JOn ows of more than CFFO JOWPMWFE JO UIF mOBODJOH PG QVCMJD JOGSBTUSVDUVSFs €1.5 billion in a difﬁ cult business environment. UIF 'SFODI .JOJTUSZ PG %FGFOTFT i#BMBSEw QSPKFDU Jn 5IF(SPVQDPOUJOVFEUPEFNPOTUSBUFJUTDPNNJUNFOUUo 1BSJT UIF3IFJNTUSBNXBZ FUD BOEJOUIFDSFBUJPOPGBn mOBODJOHthe French economy in 2011, with annual growth JOWFTUNFOUBOEEFWFMPQNFOUGVOETQFDJmDBMMZBJNFEBt of 6.5% in loan outstandings. QVCMJDQSJWBUFQBSUOFSTIJQT The two Banque Populaire and Caisse d’Epargne retail networks recorded an increase of more than 8% in on-bal- FOUR CROSS-FUNCTIONAL PROGRAMS ance sheet savings deposits (excluding centralized savings products). $VTUomer rFMBUJPOT Net income attributable to equity holders of the parent of 5IF(SPVQQMBOTUPEJTUJOHVJTIJUTFMGGSPNJUTDPNQFUJUPSs the Commercial Banking and Insurance activities stands at CZFOIBODJOHUIFDPNQFUFODFPGJUTDPNNFSDJBMUFBNT, €2.8 billion. Group ROE is equal to 12%. XJUI BO BQQSPBDI GPDVTFE PO DVTUPNFS OFFET BOE UIe RVBMJUZPGBEWJDF BOEUISPVHIDMPTFDVTUPNFSSFMBUJPOs Successful trBOTGPSmation of Natixis SFHBSEMFTTPGUIFDPNNVOJDBUJPODIBOOFM /BUJYJT IBT BDIJFWFE HPPE SFTVMUT BO BDIJFWFNFOU UIBt JMMVTUSBUFTUIFQSPGPVOEUSBOTGPSNBUJPOPGJUTCVTJOFTTNPEFl Natixis at the service of retail custPNFST UISPVHI UIF JNQMFNFOUBUJPO PG JUT TUSBUFHJD QMBO /FX %FBM. 5IFEFWFMPQNFOUPGDPNNFSDJBMSFMBUJPOTCFUXFFO/BUJYJs 5IF$PSQPSBUFBOE*OWFTUNFOU#BOLJOHEJWJTJPOIFMEVQXFMM, BOEUIFSFUBJMOFUXPSLTJTIFMQJOHUPJNQSPWFUIFTFSWJDFs BOE JODSFBTFE JUT NBSLFU TIBSF CZ SFGPDVTJOH PO JUT QSJPSJUy PGGFSFEUP(SPVQDVTUPNFSTUBSHFUéNJMMJPOPf DVTUPNFST 5IF *OWFTUNFOU 4PMVUJPOT EJWJTJPO NBOBHFE Uo BEEJUJPOBMOFUCBOLJOHJODPNF NBJOUBJO QPTJUJWF JOnPXT JO BTTFU NBOBHFNFOU JOTVSBODF, 0QFSational efGFDUJWFOFTT QSJWBUF CBOLJOH BOE JOWFTUNFOU DBQJUBM 'JOBMMZ UIF 4QFDJBM 'PVSBQQSPBDIFTIBWFCFFOJEFOUJmFEUPESBXPOUIFBE J[FE'JOBODJBM4FSWJDFTVOJUJOUFOTJmFEUIFEFWFMPQNFOUPGJUs WBOUBHFTSFMBUFEUPUIFTIFFSTDBMFPGUIF(SPVQDFOUSBM BDUJWJUJFT OPUBCMZXJUIUIF(SPVQTSFUBJMOFUXPSLT J[FEQSPDVSFNFOU UIFTIBSJOHPGCFTUQSBDUJDFT SFHJPOBl Net income attributable to equity holders of the parent posted *13 I

by Natixis stood at €1.6 billion, a modest fall QUESTION OF SYNERGIES of approximately 10%. Net banking income was up by 3%, at €6.7 billion. Its net pre-tax income remained stable at €2.2 billion. FRANÇOIS RIAHI 'VSther reduction in the risk prPmMF y Chief Ex e Of cer, Strategy 3JTLXFJHIUFE BTTFUT JO UIF SJOHGFODFd %FQVU FDVUJW m QPSUGPMJP ("1$ IBWF CFFO SFEVDFE Cy TJODF+VOF *O JOBEJGmDVMt “WE ARE ADVANCING FOWJSPONFOU UIF (SPVQ TPME é CJMMJPn PG SJOHGFODFE BTTFUT 5IF ("1$ IBE Oo QUICKLY TOWARDS ACHIEVING TJHOJmDBOUJNQBDUPOJODPNFJO 5IFNPEFSBUFSJTLQSPmMFPGUIFDPSFCVTJOFTs OUR 2013 TARGETS” MJOFT SFnFDUT UIF QSFEPNJOBODF PG 'SFODI SFUBJMCBOLJOHJOUIF(SPVQTBDUJWJUJFT he Group’s drive to refocus on its core business lines and customer-oriented 1SPHSess with the Basel III road map activities, the deWelopment of reWenue synergies betXeen the businesses 3FHVMBUPSZ DIBOHFT BSF SFnFDUFE JO UIe 5 and the implementation of cost synergies across the Group are proving their TUSBUFHJD NBOBHFNFOU PG UIF (SPVQ. FGGFDUJWeness. 5his is evidenced by the results acIJFWed in a difm cult climate as of #1$& TVDDFTTGVMMZ QVSTVFE JUT MJRVJEJUy the second half of 20. 5IF#BORVF1PQVMBJSFCBOLTBOEUIF$BJTTFTE&QBSHOFIBWe TUSBUFHZ BJNFE BU TFDVSJOH BOE PQUJNJ[ SFWJUBMJ[FEUIFJSCVTJOFTTFTBOETVDDFTTGVMMZJOOPWBUFEJONVMUJDIBOOFMCBOLJOHBDUJWJUJFT. JOHBDDFTTUPMJRVJEJUZJOBMMJUTCVTJOFTTFs $SÏEJU'PODJFSJTSFGPDVTJOHPOJUTBDUJWJUJFTJO'SBODF XJUIBOFNQIBTJTPOTFSWJOHJUs TFFQBHFTBOE "U%FDFNCFS, PXODVTUPNFSTBOEUIPTFPGUIF(SPVQTSFUBJMCBOLJOHOFUXPSLT UIF (SPVQT MJRVJEJUZ SFRVJSFNFOt #BORVF1BMBUJOFIBTDPOUJOVFEUPFOKPZHSPXUIBNPOHNFEJVNBOEJOUFSNFEJBUFTJ[Fd XBT SFEVDFE CZ é CJMMJPO DPNQBSFd DPNQBOJFTBOEUIFJSNBOBHFST/BUJYJTJTTVDDFTTGVMMZUSBOTGPSNJOHJUTCVTJOFTT XJUI +VOF BOE JUT $PSF 5JFS1 NPEFMJOEFQUIXJUIUIFJNQMFNFOUBUJPOPGJUT/FX%FBMTUSBUFHJDQMBO. SBUJPXBTSFJOGPSDFE5IFTBMFPG'PODJa "UUIFFOEPGJUTTFDPOEZFBS PVSi5PHFUIFSwQSPKFDUIBTHFOFSBUFENPSFUIBOIBMGa BOE &VSPTJD JO DPOUSJCVUFE UP UIJs CJMMJPOFVSPTJOBEEJUJPOBMOFUCBOLJOHJODPNFCFUXFFO/BUJYJTBOEUIF#BORVF1PQVMBJSe JNQSPWFNFOU5IF(SPVQJTDPOmEFOUPf BOE$BJTTFE&QBSHOFOFUXPSLT5IFNBJODPOUSJCVUPSTBSFDPOTVNFSDSFEJU JOTVSBODe JUTBCJMJUZUPNFFUUIFOFX#BTFM***DBQJUBl BOEQBZNFOUT"UUIFTBNFUJNF UIFEFWFMPQNFOUPGUIFDPTUTZOFSHZQSPHSBNTIBd SFRVJSFNFOUT XJUI B $PNNPO &RVJUy TBWFENPSFUIBOéNJMMJPOCZUIFFOEPGUISPVHIUIFBNBMHBNBUJPOPGUIe 5JFSSBUJPJOFYDFTTPGJO DFOUSBMEFQBSUNFOUT UIFQPPMJOHPGJOGSBTUSVDUVSFT JOGPSNBUJPOBOEQBZNFOUTZTUFNT, TFDVSJUJFTBOEDIFDLBDUJWJUJFT UISPVHIDFOUSBMJ[FEQSPDVSFNFOUBOEUIFPQUJNJ[BUJPn (1) At December 31, 20. Source: Banque de France – Financing of the FSFODh economZ PGSFBMFTUBUFIPMEJOHT#PUIUIFSFWFOVFBOEDPTUTZOFSHJFTBDIJFWFETPGBSBSFBIFBd (2) 8ithout transitional measures (after restating to account Gor defFSred tax assets). PGUBSHFU

REVENUE SYNERGIES COST SYNERGIES é1 million €684 million at the end of 20 at the end of 20 *OGPSNBUJPO4ZTUFNT $POTVNFSMPBOT 1S ocesses (including *OTVSBODF QSPDVSFNFOU 1BZNFOUT Organization (including central institution and QSPQFSty optimization) 0UIFS * 14 I UNDERST"/%*/(

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5he Caisses d’Epargne are the banks that haWe changed the most oWer the past ten years. 5PEBZ, they are modern, innoWBUJWe banks, XIJDh QSPvide a DPNQSFIFOTJWe range of TFSvices to individuals, QSPGessionals and regional decision-makers. 4JNQMJDJUZ, USust, USBOsparency: with its new brand terSJUPSZ, the Caisse d’Epargne is rewriting the history of its relationship with its customers. It is taking an original slant on the defi nition of the kFy terms of the banking world, in order to underline the extent to which it is in tune with contemporary needs. 8ith its new strapline – La banque. NouWelle défi nition (“BBOLJOH. New defi nition”) –, image coincides with realitZ

/"5*9*4 “A ONE-STOP SHOP $0.1-&5&4*54i8�-65*0/w First brought online in September 201, the FOR OUR MAJOR CLIENTS” OFw website XXXOBUJYJTDPN attracts almost 0 visitors a month. 8ith its clear and -"URENT MIGNON VTFS-friendly strVDUure, it provides quick access Chief ExFDVUJWe Ofm cer of Natixis to Natixis’ difGerent activities, both in France and abroad. "s a result, its target audience BUJYJTIBTQSPGPVOEMZSFWJTFEJUTPSHBOJ[BUJPOBOEIBTBEPQUFEa – customers, prospects, shareholders, job IPSJ[POUBMMZJOUFHSBUFENBOBHFNFOUTUSVDUVSFoLOPXOBT$PWFSBHF applicants, journalists – can easily ﬁ nd the / oEFTJHOFEUPFOIBODFJUTSFTQPOTFUPDVTUPNFSFYQFDUBUJPOT. JOGormation they need. One new addition to the "TUIFQSJNBSZJOUFSMPDVUPSTUPMBSHFDPNQBOJFTBOEmOBODJBMJOTUJUVUJPOT, site is the section containing iFxpert opinion” UIFTFOJPSCBOLFSTDMPTFMZBOBMZ[FUIFJSDMJFOUTEFWFMPQNFOU mOBODJOg, videos – 1aroles d’eYQFSUT –, in which Natixis’ SJTLNBOBHFNFOU BOEJOWFTUNFOUOFFET5IFZQSPWJEFUBSHFUFETPMVUJPOs EJGGerent experts describe their jobs or their CBTFEPO/BUJYJTHMPCBMSBOHFPGTPMVUJPOTJO$PSQPSBUFBOE*OWFTUNFOt points of view on topical issues. #BOLJOH BTTFUNBOBHFNFOUBOE4QFDJBMJ[FE'JOBODJBM4FSWJDFT * 20 I INNOV"TION SECTION

*//07"5*/G '03"-- "/%'0R &7&3:0/&

5045":*/5)&36//*/(50.03308 8&/&&D 50#&0/&45&1")&"%0'5)&$0.1&5*5*0/50%":: 5)*4*45)&$)"--&/(&0'*//07"5*0/*/(3061$&. "--*54$0.1"/*&4"3&803,*/(50-&"%'30M 5)&'30/5"/%%&.0/453"5&%5)&453&/(5H 0'5)&*3.0.&/56.

nnovation: the stakes are critical in a highly competitive banking industry, facing pro- found regulatory, commercial and social changes, challenged by the development of consumerism, under pressure in businesses * as fundamental as loans and payments from the JOn ux of new players from the online and retail sectors.

DRIVING GRO85) #anks need to JOOPWate to increase their com- QFUJUJWeness, reduce operating costs, JNQSPWe FGm ciency and NBJOUain HSPwth. On NBUure NBSLets TVDh as SFUail banking in 'rance, inno- Wation is the primary driver of groXUI *21 I

*OOPWation is the XBy to meet the needs of bet- NEW 5&$)/0-OGIES ter JOGormed and more demanding customers; 5O SERVE CUS50.&34 to GVMm ll OFw requirements, OFw aspirations, NBOy of XIJDh are still to emerge and to be JNBHJOFEBOEUPTUBOEPVUGSPNUIFDPNQFUJUJPO. .:#"/,"5.:'*/(&35*14: 5IF QIFOPNFOBM TVDDFTT PG UBCMFU DPNQVUFSs 5)&:&"30'5)&.0#*-&"11 HJWFTGPPEGPSUIPVHIU Managing your accounts, cash QIPUos and comments, nPX saWJOHT insurance… and calculate their borSPwing 130.0TING INITIATIVE JOTUBOUMZ anZXIFSF at any DBQBDJUZ Mobile business AND ENTERPRISE UJNF it’s now possible with applications are also on the Groupe #1$&s i5PHFUIFSw strategic plan Gor the host of mobile applica- SJTFWith NZ$BTINBOBHFNFOU 0-203 clearly JEFOUJmes this Dhallenge. 1ro- tions supplied by the GrPVQs GSom Natixis, accountant moting JOJUJBUJWe and enterprise is one of its companies for the iPhone, DVTUomers can trBDk cash Gour Gocal principles and its EFDFOUSBMJ[ed group J1BE BlacL#FSSZ¥ smartphones nPw and carry out certain model encourages innoWBUJPO and "OESoid tablets.A million USansactions when they wBOU 8IFUIFSUIFBJNJTUPSFNPEFMDVTUPNFSSF DVTUomers use the Caisse XIFSFWer they arFAnother MBUJPOT UP QSPQPTF OFX TJNQMFS BOE NPSe E&QBSgne app, vPUed BQQMJDBUJPO /BUJYJT". nFYJCMFTFSWJDFTPSBQQSPBDIFT UPBEPQUOew the best in the wPSld out BWailable free from the Apple of more than 200 mobile 4UPSF is aimed at direct UFDIOPMPHJFT PS EFWFMPQ OFX BQQMJDBUJPOT Jn applications ofGFSed by the DVTUomers of Natixis Asset PSEFSUPBDIJFWFTVTUBJOBCMFDPNQFUJUJWFBE XPSMEs 50 biggest banks .BOBHFNFOU institutional WBOUBHF UIJTTFDUJPOIJHIMJHIUTUIFJNNFOTe With Natixis IntFSÏQBSHOFs JOWFTUPST larHe companies… SBOHFPGJOOPWBUJPOBOEUIFWJUBMJUZPGUIFJO .PO&QBSHOF4BMBSJBMF It prPvides them with OPWBUJWFTQJSJUQSFTFOUJOUIF(SPVQTUFBNT. DVTUomers can cIFDk their continuous access to all 5IF TVDDFTT PG UIF JOIPVTF *OOPWBUJPO5SP FNQMPZee savings accounts. their funds, expert rFQPSts QIJFT PSHBOJ[FEGPSUIFmSTUUJNFJO Js With Crédit FPODJFSs and marLet analyses, notably FWJEFODFFOPVHI 1SPKFUJNNP they can searDh in video and podcast fPSNBUT the prPQFSty ads and saWe SBOLJOHCZUIFJOEFQFOEFOt .Z1SJWBUF#BOLJOHBHFODZ SHARED INNO7"5*0/ them to their iPhones, add Another GFBUure of JOOPWation in a group MJLe BPCE, with multi-brand OFUXorks TFSWed Cy QPXerful specialist core business lines, is that JOOPWation is BMXBZs shared, a Gactor essential to efGFDUJWe implementBUJPO $0/5"$5-&441":.&/5, 5he strategy is similar to that of car NBOVGac- 0/-*/&*/70*$&4&55-&.&/5 Uurers, XIJDh pool their skills along with their design, EFWelopment and JOWestment costs to /FXQBZNFOUTPMVUJPOTBSFFNFSHJOH BOE(SPVQF#1$&Js produce engines and Dhassis Gor models that BMSFBEZUFTUJOHUIFN1JPOFFSTJODPOUBDUMFTTQBZNFOUTZTUFNT, are EJGGerentiated simply Cy their brands and #BORVF1PQVMBJSFBOEUIF$BJTTFE&QBSHOFIBWFPGGFSFEUIFJr EFTJHO DVTUPNFSTPOUIF'SFODI3JWJFSBNPSFUIBO OFXDBSEs 5he Group does the same for its netXPSLT FRVJQQFEXJUIUIJTUFDIOPMPHZ BOETVQQMJFENPSFUIBO 0 'rom initial idea to bank CSBODh, the article on SFUBJMFSTXJUIDPOUBDUMFTTUFSNJOBMT#1$&IBTBMTPMBVODIFd page 24 EFWoted to the design of a OFw prod- BOFXUSJBMPGNPCJMFQBZNFOUTPMVUJPOTPOTNBSUQIPOFs uct describes how the process wPSLT JO/JDFBOE4USBTCPVSH$VTUPNFSTTJNQMZJOTFSUB.JDSP4D *OCBODBTTVSBODF XFTIPVMEBMTPBEEUIFTIBSFd DBSEQSPWJEFECZUIFJSCBOL EPXOMPBEUIFBQQMJDBUJPO BOEUIe GPVOEBUJPOT OFX TPGUXBSF OFX QSPDFTTFT, TNBSUQIPOFCFDPNFTBNFBOTPGQBZNFOU"OPUIFSBEWBODF, KPJOU NBOBHFNFOU QMBUGPSNT OFX NFUIPET Pf 4&1"NBJM NBZFWFOUVBMMZSFQMBDFDIFDLTBOEJOUFSCBOLQBZNFOt BOBMZTJTPSNBSLFUJOUSPEVDUJPO FUD. PSEFST8JUIUIJTTFDVSFFNBJMTZTUFN DVTUPNFSTDBOSFDFJWe 5IFTFMFTTWJTJCMFJOOPWBUJPOTDPOUSJCVUFEJSFDUMy BOEQBZUIFJSJOWPJDFTEJSFDUMZWJBUIFJSPOMJOFCBOLJOHJOUFSGBDFPr UPUIFDPNQFUJUJWFOFTTBOERVBMJUZPGDVTUPNFr CZVTJOHUIFJSTNBSUQIPOF*OUSPEVDFECZ#1$&UISFFZFBSTBHP, TFSWJDF5IFZUPPBSFTIBSFE 4&1"NBJMXJMMCFUIFTVCKFDUPGBOJOWPJDFTFUUMFNFOUQJMPUQSPKFDt SVOXJUIUIFPUIFSNBKPS'SFODICBOLTJO * 22 I INNOV"TION SECTION

.:#"/,&38)&3&*8"/5"/%)08*8"/5

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*//07"TING FOR INDIVIDU"-4 40-65*0/-*#3& 3&53"*5&1-"//*/(, 1-"5*/6.7*4""'*345*/'3"/$E 4&$63*5: '-&9*#*-*5: #BORVF1PQVMBJSFT7JTB1MBUJOVNDBSENFFUTUIFOFFEs PGIJHIXPSUIDVTUPNFSTXJUIFYUFOTJWFCBOLJOHTFSWJDFT )PXEPZPVQSFQBSe FOIBODFEJOTVSBODFBOETVQQPSU BOEQSPWJEFTBDDFTTUPUIe GPSSFUJSFNFOUXJUIPVt $BSSÏ1MBUJOVN BQBDLBHFPGTQFDJBMPGGFSTGPSUSBWFM FBUJOHPVU NPSUHBHJOHUIFQSFTFOU? MJGFTUZMFBOEMFJTVSFBDUJWJUJFT*OBEEJUJPO JUDBOCFVTFEUPNBLe 5IF$BJTTFE&QBSHOFs DPOUBDUMFTTQVSDIBTFTPGVOEFSFVSPT*OUSPEVDFEJO'SBODe OFX4PMVUJPO-JCSF3FUSBJUF CZUIF#BORVF1PQVMBJSF3JWFTEF1BSJTBOE#BORVF1PQVMBJSe QBDLBHFBOTXFSTUIJs $ÙUFE"[VS JUXJMMCFBWBJMBCMFBDSPTTUIFXIPMFOFUXPSLJO RVFTUJPOXJUIBTBGF nFYJCMF OPGFe TBWJOHTTDIFNF XIJDIFOUJUMFTTBWFSs UPBOBOOVBMDBQJUBMQBZNFOUGSPNUIe NPNFOUUIFZSFUJSF )&-1*/(:06/(1&01-&.",&5)&*38"Y "OBEEJUJPOUPFYJTUJOHQSPEVDUT UIJs TDIFNFGPSUIFBHFHSPVQJTCBTFd O SVQQPSUJOHZPVOHQFPQMFBUFWFSZLFy DPNQBOZ, Banque Populaire helps n TUBHFoUIBUJT#BORVF1PQVMBJSFTOFw TUudent members or afm liates to PONPOUIMZTBWJOHTPWFSTJYUPTJYUFF BQQSPBDI*UTUBSUTXJUI-BCJCMJPUIÒRVe become ﬁ nancially independent. ZFBST XJUIHVBSBOUFFEDBQJUBMBOEDBQJUBl EFMBSÏVTTJUF 5IFMJCSBSZPGTVDDFTT , 5heir studies, driving license, ﬁ rst SFUVSO*OTUBMMNFOUTDBOCFNPEJmFE, GSFFTDIPPMTVQQPSUGPSDVTUPNFST’ home, deposits, courses abroad, TVTQFOEFEPSJODSFBTFE5IFTBWFSDBn DIJMESFO GSPNQSJNBSZUPIJHITDIPPM. #anque Populaire is standing by EFDJEFUPTUPQJOTUBMMNFOUTFBDIZFBSXJUh XXXCJCMJPUIFRVFEFMBSFVTTJUF and provides the same support OPJNQBDUPOQSFWJPVTTBWJOHT5IFNPOFy CBORVFQPQVMBJSFGS to apprentices, with advice and funding if they decide to DBOCFXJUIESBXOBUSFEVDFEJOUFSFTU BOd O "s an eYDMVTJWe partner of LMDE, set up their own business. FWFOBDDFTTFEUXPZFBSTFBSMZJOUIFFWFOt the leading student mutual insurance XXXMBCBORVFEFTFUVEJBOUTDPN PGFBSMZSFUJSFNFOU.

406/%1-"$&4 &413*5.64*26&$-04&50)0.&

$BUFSJOHUPBMMNVTJDBMUBTUFT UIF$BJTTFE&QBSHOFs UIFXFC J1IPOFBOEJ1BE UIJTJOOPWBUJPOXPn &TQSJU.VTJRVFXFCTJUFBOECMPHQSPWJEFFYDMVTJWe UIF0SBOHFo-F+PVSOBMEV/FU.PCJMF*OUFSOFt BOEJOOPWBUJWFTFSWJDFT5BLF4PVOE1MBDFTUIJs 5SPQIZGPSUIFCFTUNPCJMFDPNNVOJUZ BQQMJDBUJPOVTFT(14UPEJTQMBZBOJOUFSBDUJWFNBp 5IFSFBSFNPSFUIBO BSUJTUTBOENVTJDJBOs PGGPSUIDPNJOHMPDBMQFSGPSNBODFTBOEDPODFSUT PO4PVOE1MBDFT UPCPPLTFBUTBOEMJTUFOUPUIFTPOHT"WBJMBCMFPn XXXFTQSJUNVTJRVFGS

"/%"-40QTUep-up savings at Banque Palatine with the stepped tFSm depositQXXXKFGBJTEFTUSBWBVYDPN the new $Sédit Foncier wFCTJUe where people can take out a home imprPWement loan online Q *23 I

*//07"TING FOR C0.1ANIES AND C0..6/*5*&4 %*3&$5&5#0/5)&4)035&453065E 13&1"*D '30.130%6$&350$0/46.&3 $"3%45)E *."(*/"5*0N -BVODhed in March 201, the Direct et BPO8eb portal is the ﬁ rst 5",&4$)"3(& national sales netXork for agricultural and wine products direct from Garms and vineZards: an initiative by Banque Populaire, which provides $POmHVSBCMFQSFQBJd banking services to one farmer in ﬁ ve. 8ith Direct et BPO they can DBSETXPSLMJLFPSEJOBSy easily set up and manage their online stores. For 50 euros a month, this DBSET1FPQMFXIo JOOPWBUJWe service combines website creation, hosting, maintenance, SFDFJWFUIFNEPOPt telephone support and an online payment module. 8ith 186 stores OFFEUPPQFOBCBOk open at the end of 201 and almost 26,00 hits, Direct et BPO has BDDPVOU/BUJYJTOPw already attracted thousands of consumers looking for home delivFSy QSPWJEFTmWFUZQFTUo of well-priced, high-quality seasonal products. XXXEJSFDUFUCPODPN DPWFSEJGGFSFOUOFFET UIF$PSQPSBUFDBSd UPTJNQMJGZCVTJOFTs FYQFOTFT UIF*ODFOUJWF DBSEUPSFXBSd $"1*5"-."3,&545)&'*345*/5&3/"5*0/"-41*/0'' QFSGPSNBODF UIe 3ÏNVOÏSBUJPODBSd "$"$JOOPWBUJPOGPSUIJs and Natixis Interépargne to deal with issues UPQBZUIFXBHFs QSPKFDU/BUJYJT XPSLJOHUISPVHh related to emploZee saving scIFNFT PGTFBTPOBMXPSLFSTPr -B[BSE/BUJYJT XBTBEWJTFSBOd 5IJTPQFSBUJPOSFQSFTFOUTUIFmSTUJOUFSOBUJPOBl QFPQMFXJUIPVUCBOk DPPSEJOBUPSGPSUIF%JBTQJOPGf TQJOPGG DPOTJEFSJOHUIBU$BSSFGPVSJTMJTUFEJO1BSJs BDDPVOUT UIe GSPN$BSSFGPVS JFUIFTFQBSBUJPn BOE%JBJO.BESJE*OUFSNTPGNBSLFUDBQJUBMJ[BUJPO, 1SFTUBUJPOTTPDJBMFT PGBCVTJOFTTGSPNJUTQBSFOUDPNQBOZ. %JBXBTUIFTFDPOEMBSHFTUOFXMZMJTUFEDPNQBOy DBSEUPQBZCFOFmUs A large number of business lines were inWPMWed: JOUIF&VSP[POFJO5IJTVOQSFDFEFOUFd BOESFJNCVSTFNFOUs the Corporate and InWestment Banking team PQFSBUJPOSFnFDUTUIF(SPVQTDBQBDJUZUPBTTJTt UPTPDJBMTFDVSJUy responsible for relations with CarSFGPVS, UIFCJHHFTUJTTVFSTJODPNQMFYBOEJOOPWBUJWe SFDJQJFOUT BOEUIe the equities and syndicated loans activities NBSLFUUSBOTBDUJPOT $BEFBVDBSEBTBQSFTFOU

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"/%"-40Q#1$&-0CTFSWBUPJSFunderstanding social trends so that we can serve our customers betUFS Q'BDUPSFN and 'BDUVSFBBGGPSdable fBDUPSing for very small companiesQ&TQBDF4IFSQB&YQFSUT$PNQUBCMFT XPSking tPHether to help ﬁnance small companiesQ * 24 I INNOV"TION SECTION

)08%0&4"/&W 130%6$5$0.&*/50#&*/(

'"$&-*" AT THE BANQUE POPULAIRE, *;*$"35& AT THE CAISSE D’EP"3(/& THIS NEW GENERATION OF BANKCARDS CAN BE USED FOR DIRECT DEBIT OR CREDIT P"YMENTS. FROM THE INITIAL CONCEPT TO FINAL ROLLOUT, A DOZEN GROUP COMPANIES CONTRIBUTED TO THE SUCCESS OF THIS NEW SERVICE LAUNCHED ONE YEAR AGO AND ALREADY BOASTING MORE THAN 1.3 MILLION CUSTOMERS.

n the Fxtended Gamily of Groupe BPCE be made in 'rance. 5his BWoids the use of QByment cards, the rising TUar is called store-based credit ofGFST Identifying the need “debit-credit”. It PGGers all the CFOFmts 8JUIUIFEFCJUDSFEJUDBSE JUJTBMTPQPTTJCMe * $VTUPNFSTXBOUNPSFGSFFEPNBOEHSFBUFr of a traditional bankcard together with the UPDIPPTFUIFSBUFBOEMFWFMPGSFQBZNFOt nFYJCJMJUZ5IJTJTBMTPUSVFGPSUIFJSUFNQPSBSy budget management BEWBOUages of its re- JOTUBMMNFOUT $VTUPNFST DBO QBZ PGG BMM Pr DBTInPXSFRVJSFNFOUT#SBODIBEWJTFST #1$& Wolving credit fBDJMJUZ. QBSU PG UIF CBMBODF PO UIFJS DBSET XJUIPVt BOEUIFDPOTVNFSDSFEJUTQFDJBMJTU/BUJYJs "ccount managers are Xell placed to JODVSSJOHBOZQFOBMUJFT. 'JOBODFNFOUIBWFBMMPCTFSWFEUIJTBTQJSBUJPO LOPw their DVTUPNFST’ SFQByment capaci- 5he whole TZstem is easily managed Cy XIJDIIBTBMTPCFFODPOmSNFECZWBSJPVs e ties and, UPHFUIFS, UIFy set the MFWel of the phone or Internet, with Uargeted, precise DPOTVNFSTVSWFZTOPTBUJTGBDUPSZSFTQPOT UPUIJTOFFEXBTBWBJMBCMF credit GBDJMJUy to NBUDh their needs and m and transparent tracLJOH nancial capacities: a responsible BQQSPBDh designed to aWoid eYDFTTJWe debt. EXTENDED GU"3"/5&&4 5he #anque 1opulaire banks and Caisses Sold at the same price as the DPSrespond- d’Epargne QSPvide this OFw generation of ing 7JTB card, the debit-credit card PGGers $Seating the concept bankcards in partnership with Visa. the same QVSDhase guarantees and, depending on the card Uype, automatically The simplest solution would be to be able &9CEPTIONAL FLEXIBILITY Fxtends the NBOVGBDUVSFSs XBSSBOUy from Uo pay cash or on credit with ones bankcarE 'or FBDh transaction, the customer de- one to UXo Zears on electronic and elec- and rFQBy at difGFSent rBUes depending on cides whether to use the direct debit or trical, etc., EFvices, whether QByment is POFs particular cirDVNTUBODFT Is it feasible? credit GBDJMJUZ. 5he EFGault TFUting is direct in cash (direct debit) or credit. 5his TBWes NBOBHeable? how? at what cost? at what price? Will sales t minals be able to read a new chip? debit QByment, but an option on the QBZ on the cost of in-store Fxtended XBSSBOUy FS Visa and Natixis Paiements came on board with ment terminal BMMPws credit QByments to TDIFNFT their experUJTF The fFBUVSes of the new debit-credit carE its TFSWJDFT its operBUJPO its managFNFOU its QSJDJOH its economic model: every fBDUor was FYQMPSed and an initial budgetary analysis Xas prPEVDFEThe resulting product model was UFTUed and conﬁSmed by customer grPVQT

Conducting the IT and UFDhnical devFMPQNFOUT

'BDFMJBand *[JDBSUF 5FDIOJDBMMZ it was far from simple.&YUSemely detailed 'BDFMJB has an additional 7JTB1MBUJOVN TQFDJmcations wFSe drBwn up. In parUJDVMBS the GrPVQs IT teams version at the Banque Populaire. had to ﬁnd a wBy to manage the ﬂexibility of cash or credit *[JDBSUF exists in #MFVF7JTB and 7JTB1SFNJFS QByments and the elasticity of vBSiable rFQBZNFOUTThe project card versions at the Caisse d’Epargne. CVEHet and timetable wFSe rFmOFE *25 I

5esting compliance Consumer credit is rFHVMBUed to prFWent FYDFTTJWe debt. BPCE’s compliance and legal Ueams analyzed the product befPSe giving the go-ahead for distrJCVUJPOThe debit-credit DBSd is a responsible solution."dviser training and communication are designed in this QFSTQFDUJWF

1SFQBSJOHUIFNBSLFUMBVODI 5XPUFBNTXFSFHJWFOUIFUBTLPGESBXJOHVQUIe MBVODIQMBOTPOFGPS#BORVF1PQVMBJSF UIFPUIFSGPr UIF$BJTTFE&QBSHOF5IFJSKPCXBTUPDPNFVQXJUh OBNFTGPSUIFDBSET TQFDJGZUIFHVBSBOUFFTXJUIUIe UXPOFUXPSLTSFTQFDUJWFJOTVSFST /BUJYJT"TTVSBODFs BOE#1$&"TTVSBODFT EFDJEFUIFSFQBZNFOt QSPDFEVSFTXJUI/BUJYJT'JOBODFNFOU FTUBCMJTh DPNNVOJDBUJPOQMBOT FUD

5esting the prPEVDU *OFBDIOFUXPSL CBOLTWPMVOUFFSFEUo QJMPUUIFTDIFNF&NQMPZFFTUFTUFEFWFSy BTQFDUPGUIFOFXDBSEDSFEJUBQQSPWBM VTe POUIF"5.OFUXPSL RVBMJUZPGJOGPSNBUJPO GBDJMJUZUPDIBOHFSFQBZNFOUUFSNT DMBSJUy PGUIFNPOUIMZBDDPVOUTUBUFNFOUT FUD

0SHanizing the rPMMPVU

5SBJOJOH TBMFTQJUDI BQQMJDBUJPOT QPTUFST QPJOU PGTBMFBEWFSUJTJOHFWFSZUIJOHXBTHPUSFBEZ 5IFUFBNTBU/BUJYJT'JOBODFNFOUBMTPIBEUPCe USBJOFEUPQSPWJEFBGUFSTBMFTTFSWJDFTUPVTFST

"TTFTTJOHUIFQSPKFDU

NPOUITIBWFHPOFCZ#VEHFU UJNFUBCMF BEWJTFSDPNNJUNFOU DVTUPNFSSFTQPOTF EJTUSJCVUJPO VTF MFWFMPGUBLFVQUIFGFFECBDk XJMMCFVTFEUPDPOEVDUBGVMMBTTFTTNFOUPf UIFPQFSBUJPO UPJNQSPWFUIFTFSWJDFBOEUo HBSOFSJEFBTGPSJNQSPWFNFOUPSGPSOFXQSPKFDUT * 26 I INNOV"TION SECTION

0631&01-E *//07"5& 500

THE 1TU IN-HOUSE “INNOV"TION TROPHIES”WERE A8ARDED FOR 8 PROJECTS AND THEIR 23 AUTHORS. A TOTAL OF 5 PANEL PRIZES, 2 SPECIAL F"VORITES AND 1 EMPLOYEES’ PRIZE WERE PRESENTED. THESE ACCOLADES UNDERSCORE THE CREATIVITY OF THE GROUP’S EMPLOYEES WHO IMAGINE NEW SOLUTIONS FOR THE BENEFIT OF CUSTOMERS, THE COMPANY AND THE ENVIRONMENT

$*5&7*", A BANK CARD #SFUBHOF1BZTEF-PJSFSFDFJWFBVUPNBUJc AND ELECTRONIC 5*$,&5 DPOmSNBUJPOTFOUCZFNBJMPS4.45IFNFTTBHe %FTJHOFECZUIF$BJTTFE&QBSHOF-PSSBJOe TQFDJmFTUIFTVCKFDUPGUIFNFFUJOH UIFOBNe $IBNQBHOF"SEFOOFXJUIUIFIFMQPGTUBGf PGUIFQFSTPOUIFDVTUPNFSXJMMCFNFFUJOg, GSPN#1$&BOE/BUJYJT UIJTSFDIBSHFBCMFCBOk BOEUIFEJGGFSFOUEPDVNFOUTSFRVJSFE DBSEFOBCMFTDVTUPNFSTUPXJUIESBXDBTI TFUUMe QVSDIBTFTVTJOHDPOUBDUMFTTPSJOTFSUBCMFTNBSUDBSd 7*"#1" INTERACTIVE SFBEFST BOESJEFUIFQVCMJDUSBOTQPSUTZTUFm 8&-$OME FOR NEW RECRUITS UISPVHIPVUUIFFOUJSF3IFJNTVSCBOBSFB: 5IFVQEBUFEFEJUJPOPGUIFXFMDPNFCPPLMFt UIFmSTUJOJUJBUJWFPGJUTLJOEJO'SBODF QVCMJTIFECZ#BORVF1PQVMBJSFEFT"MQFTJODMVEFs BOJOOPWBUJPOBOJOUFSBDUJWFXFMDPNFWJTJU. $ARBON "UDITS FOR EACH BRANCH 5IJTTDFOBSJPCBTFEQSPHSBNMBTUJOHKVTUVOEFr 5IBOLTUPUIFNJOJCSBODIDBSCPOBVEJU UIFCSBODIFs POFIPVSPGGFSTOFXSFDSVJUTBMJHIUIFBSUFd PGUIF#BORVF1PQVMBJSF-PJSFFU-ZPOOBJTNPOJUPr QSFTFOUBUJPOPGTUSBUFHJDJOGPSNBUJPOBCPVUUIe IPXNVDIFMFDUSJDJUZ QBQFS BOE*5DPOTVNBCMFs DPNQBOZPGQSBDUJDBMVTFJOUIFJSFWFSZEBZXPSL UIFZVTF BOEUIFQFSDFOUBHFPGDVTUPNFSs SFDFJWJOHEJHJUBMNPOUIMZCBOLTUBUFNFOUT5IFUPPl 53"$,*/(."*-4 JTFBTZUPVTF SFMBUFEJOGPSNBUJPOJTEJTQMBZFEPn AN EFFICIENT 53"CEABILITY SOLUTION FBDIXPSLTUBUJPO BOEBHPPEQSBDUJDFTHVJEFJs /BUJYJTNBJMTFSWJDFIBTEFWFMPQFEBTFDVSF SFBM BWBJMBCMFUPIFMQUIFTUBGGUPNBLFGVSUIFSQSPHSFTT. UJNFUSBDLJOHTPMVUJPOGPSTFOTJUJWFDPSSFTQPOEFODe TVDIBTEPDVNFOUBSZDSFEJUT DPOUSBDUTPSQBZNFOt $ONFIRMING AN APPOINTMENT DBSET*UJTCBTFEPOEFEJDBUFETPGUXBSF CBSDPEe #Y E-MAIL OR SMS UFDIOPMPHZBOEBTZTUFNXIFSFCZBEESFTTFT’ *OOPWBUJPO FGmDJFODZ DVTUPNJ[BUJPOBOERVBMJUZ: TJNQMZTJHOUIFJSOBNFTPOB1%"EFWJDF. TJODF BMMBQQPJOUNFOUTXJUIJOEJWJEVBl FNQMPZFFTCFOFmUGSPNUIF5SBDLJOHNBJMT DVTUPNFSTCBOLJOHXJUIUIF$BJTTFE&QBSHOe TPMVUJPO XIJDINBOBHFT MFUUFSTFWFSZNPOUI

Q37 companies inWPMWFEQ8 entries prFTFOUed by 286 emploZFFTQ26 initiatives shorUMJTUFEQ

Q WPUFTDBTUGPSUIFi&NQMPZFFT1SJ[FwQQSJ[FTBXBSEFEUPQSJ[FXJOOFSTSFQSFTFOUJOH(SPVQF#1$&DPNQBOJFTQ Special FBWPSJUF of the selection panel EmploZees’ PrJ[F i4*(/-"/(6"(&w#3"/$)o$"*44&%&1"3(/&-"/(6&%0$30644*--0N 'PMMPXJOHBOJOJUJBUJWFUBLFOCZ0MJWJFS#BSPO BDVTUPNFSBDDPVOUNBOBHFS BiTJHOMBOHVBHFiCSBODIIBTPQFOFEJO.POUQFMMJFS 5IBOLTUPTJNVMUBOFPVTUSBOTMBUJPOJOUPUIF'SFODITJHOMBOHVBHF UIJTCSBODIPGGFSTSFDFQUJPOTFSWJDFTBOEBEWJDFUBJMPSFEUPQFPQMe XIPBSFEFBGPSTVGGFSJOHGSPNIFBSJOHEJTPSEFST NPSFUIBOPGXIPNIBWFOPXDIPTFOUPCBOLXJUIUIF$BJTTFE&QBSHOF

Special FBWPSJUF i8&-$0.&*/'3&/$)4*(/-"/(6"(&wo#"/26&1016-"*3&$&/53&"5-"/5*26& 5IFDPNNJUNFOUNBEFCZ)ÏMÒOF3JHBM /PÑM-PQF[ 'SBOÎPJT.BHOBVEBOE$PSJOOF7JDUPSJBMFEUPUIFPQFOJOHPGUXPEFEJDBUFd SFDFQUJPOBSFBTJOUIFCSBODIFTJO-JNPHFTBOE'FZUJBU5IFCBOLXPSLTDMPTFMZXJUIUIF.BJTPOEFTTPVSETEFMB)BVUF7JFOOF BTTPDJBUJPOGPSEFBGQFPQMF BOEFYJTUJOHBOEQSPTQFDUJWFDVTUPNFSTXJUIIFBSJOHEJTPSEFSTXIPTPEFTJSFDBOCFBDDPNQBOJFd JOEJGGFSFOUCSBODIFTXJUIPOFPGUIFCBOLTFNQMPZFFTFYQFSJFODFEJOVTJOHUIF'SFODITJHOMBOHVBHF * 28 I PROFESSIONAL LIFE

0''&3*/("553"$5*7E $"3&&313041&$54

"TTRACTING, RETAINING AND DEVELOPING T"-&/5 SUPPORTING THE GROUP’S EMPLOYEES AT EVERY STAGE OF THEIR PROFESSIONAL LIVES: A PROGRESS REPORT FOR 2011.

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On November 2, 2011, Groupe BPCE signed its m rst group agreement on the forward management of jobs and skills Gestion prévisionnelle des emplois et des DPNQÏUFODFT, or GPEC). It embodies the desire of the social partners to anticipate job changes in a constantly evolving economic environment. From a group perspective, this agreement establishes human resources as a fully-ﬂ edged strategic component in the dialogue with staff representatives. From the individual perspective, its aim is to give employees the means to plan and implement their professional development with the support of the HR department and their line managers.

ANNE MERCIER-GALLA: Chief ExFDVUJWe Ofm cer, Human RFTPVSDFT member of the BPCE Management BPBSE “OFFERING CAREER PROSPECTS TO EACH OF OUR 117,000 EMPLOYEES ”

ur Group and its companies need JOOPWation, which guarantee our performance to be able to inspire their emploZees and competitiveness. 0 with a sense of commitment, trust 'SPNUIJTQPJOUPGWJFX UIF(1&$BHSFFNFOt and a pride in belonging. 5he kFZs to success NBSLTBOFTTFOUJBMTUFQUBJMPSFEUPUIe will be our capacity to ofGer career prospects EFDFOUSBMJ[FEOBUVSFPGPVSHSPVQ JUSFnFDUs to each of our 1 0 emploZees, to be able JUTTPDJBMSFBMJUZ JUTEFTJSFUPEFWFMPQUIFDBSFFr to rely on strong managerial teams, and QSPTQFDUTPGFNQMPZFFT BOEUIFHFOVJOFOFTs to maintain our capacity for adaptation and PGUIFTPDJBMEJBMPHVFBUUIJTMFWFM

5,880 new 0 é0 million FNQMPZFFT ///QFSmanent contrBDUT USainees and intFSOT JOWFTUed in trBJOJOH *29 I

3&$36*5*/( 53"*/*/( "/&8&.1-0:&R &91-03*/(/&W *."(& "1130"$)&4

5he Group’s difGerent companies recruited 1 was an opporUunity for the almost 6,00 people on permanent contracts 5S aining teams to explore new in 201, more than 70% of them working in USaining methods: the serious game sales. 5o meet these recruitment needs, and the virUual classrPPN Groupe BPCE launched its ﬁ rst emploZer image The aim was to campaign in September in pursuit of tXo PGGer emploZFFT PCKFDUJWes: to attract and retain talent. TVQQPSUed by Consistent with the identity of the group’s their managers major brands – #anque 1opulaire, Caisse d’Epargne, and the HR Natixis, Crédit Foncier and Banque Palatine %FQBSUNFOU – the strapline chosen, #anquiers engagés EJGGFSent solutions for constructing iDPNNJUted bankers”), highlights both the their own training process and HSPVQs business model and its commitments iMFBSning difGFSFOUMZw to its cooperative shareholders, customers, local communities and emploZees with respect to professional mobilitZ, divFSTJUZ, training, .07*/( management, and career deWFMPQNFOU #6*-%*/(#3*%(&4

"TQBSUPGUIF(1&$BHSFFNFOU, UIFHSPVQTDPNQBOJFTVOEFSUBLe UPQSPNPUFJOUFSDPNQBOZNPCJMJUZBOd "13"$5*$"-$0..*5.&/550%*7&34*5: UPGBDJMJUBUFJUTJNQMFNFOUBUJPOVOEFr UIFCFTUQPTTJCMFDPOEJUJPOT CZNFBOs O 4FUUJOHTQFDJmDUBSHFUTGPSSFDSVJUNFOU QSPNPUJPOBOEUSBJOJOH HJWFOGPSNBl PGBTJNQMJmFESFDSVJUNFOUQSPDFTT, FYQSFTTJPOJOUIF(1&$BHSFFNFOU UPHFUIFSXJUIB#BORVF1PQVMBJSFCSBODh TVQQPSUNFBTVSFT NPCJMJUZCSJEHFT… BHSFFNFOUPOHFOEFSFRVBMJUZJOUIFXPSLQMBDF *OQBSUJDVMBS UIJTJOWPMWFTBQSPDFTs O &TUBCMJTINFOUPGUIFHSPVQXJEF-FT&MMFTEF#1$&OFUXPSL BQMBZPn EFTJHOFEUPNBLFDBSFFSQBUIXBZs XPSETNFBOJOHTJNVMUBOFPVTMZi#1$&XJOHTGFNBMFFNQMPZFFTw UPGBDJMJUBUe DMFBSFSBOENPSFBDDFTTJCMF GFNBMFQSPNPUJPOUPNBOBHFNFOUSPMFTBOEQPTJUJPOTPGSFTQPOTJCJMJUZ O $POUSJCVUJPOUPUIF'JOBODJ&MMFTOFUXPSL XIJDIFYJTUTUPVOJUFUIFOFUXPSLs PGGFNBMFNBOBHFSTJOUIFCBOLJOH mOBODFBOEJOTVSBODFTFDUPST. %&7&-01*/( O 1BSUJDJQBUJPOJOUIF%ÏQMPZPOTOPT&MMFT i4QSFBEPVSXJOHT1SPNPUFPVr GFNBMFFNQMPZFFTw QSPKFDU MBVODIFECZUIF.JOJTUSZPG:PVUIBOE"DUJWe /&8$"3&&31"5)4 4PMJEBSJUZ UPDPNCBUTUFSFPUZQFTBCPVUTPDBMMFEiNBMFwKPCT "KPJOUTZTUFNGPSEFUFDUJOH TFMFDUJOHBOETVQQPSUJOHMFBEFSs 3&(6-"3.&&5*/(48*5H BOENBOBHFSTXBTJOUSPEVDFd JO*UJTGPVOEFE JOQBSUJDVMBS '3"/±0*41²30- POUIFMBVODIPGGPVr EFEJDBUFEQBUIXBZT– .FNCFSTPGTUBGGXFSFBCMFUPUBMLUPUIe (MPCBM-FBEFST $IBJSNBOPGUIF#1$&.BOBHFNFOU#PBSd "EWBODFE.BOBHFNFOU EVSJOHUXPDIBUTFTTJPOTIFMEJO+VOFBOd 1SPHSBN )BVUs /PWFNCFS'SBOÎPJT1ÏSPMBMTPUPPLQBSt 1PUFOUJFMT w)JHI JOUIFi%JSFDU2VFTUJPOTwFYFSDJTFBUBMVODh 1PUFOUJBMw &TTFDoBOEBTQFDJmc BUUFOEFECZBEP[FOFNQMPZFFT SBOHFPGËMBDBSUFUSBJOJOHQSPHSBNT

TO FIND OUT MORE IN-HOUSE INNOV"TION P. 26 AND 27 WORKPLACE DIVERSITY AND QUALITY OF LIFE P. 45 * 30 I EXPERTISE

0#+&$5*7&;&301"1&3 %*(*5"-#"/,*/(*4.",*/( 3"1*%130(3&44

(3&"TER SPEED, EFFICIENCY, TRACEABILITY AND TIME TO TALK, FEWER DELAYS, MISTAKES AND RESOURCES WASTED: THE DIGITAL ENTERPRISE IS A WIN-WIN SOLUTION FOR THE GROUP AND FOR ITS CUSTOMERS.

PNPSSPXs banking will be EJHJUal: more FGm cient, more economical, more TVTUain- 5 able and more accessible. A Group plan has been MBVODhed to meet the needs of customers who Xant a bank UIFy can access BOywhere and BOy time, with online products and TFSvices, but not just that… the EJHJUal enterprise PGGers a completely EJGGerent XBy of XPSLJOH. More than 0 projects are DVSrently VOEFSXBy; TFWeral entities, TVDh as the Caisse d’Epargne Ile-de-France or Crédit 'PODJFS, IBWe UBLen the PQQPSUVOJUy of a Dhange of head PGm ce or site groupings to speed up the process. 5he LFy concepts are electronic documents, process optimization, automation of MPw added-value Uasks, general adoption of e-mail and Xeb 2.0 DPNNVOJDBUJPOT

.6-TIPLE "%7"/5"GES (JWJOHDVTUPNFSTCFUUFSTFSWJDF TQFFEJOHVQBE NJOJTUSBUJWFUBTLTBOESFMFBTJOHUJNFGPSDVTUPNFr DPOUBDU BDDFMFSBUJOHJOGPSNBUJPOJOUFSDIBOHFBOd EFDJTJPONBLJOH SFEVDJOH UIF SJTLT PG DPQZJOg BOEmMJOHFSSPST JNQSPWJOHUSBDFBCJMJUZ FOIBODJOg DPNQMJBODF FUD UIFCFOFmUTJOUFSNTPGRVBMJUZ, FGmDJFODZBOETFDVSJUZBSFTVCTUBOUJBM. 5IFSFEVDUJPOJODPTUTBOEFOWJSPONFOUBMJNQBDt BSFVQUIFSFXJUIUIFN1BQFS QSJOUJOH QIPUPDPQ JFT QPTUBMDPTUT TUPSBHFTQBDFBOEUIFUIPVTBOEs PG IPVST XBTUFE VOTVDDFTTGVMMZ TFBSDIJOH GPS a CBEMZmMFEEPDVNFOUBOEBTLJOHGPSJUBHBJOJOPS EFSUPDPNQMFUFBQSPDFTTyJUTBMMBCPVUTBWJOg SFTPVSDFT UJNFBOEFOFSHZ. .*--*0/1"(&4"/% 53&&4":&"3 these impressive statistics are the savings anticipated from the digitization of on-balance sheet savings and day-to-day banking in the Banque Populaire and Caisse d’Epargne networks. *31 I

PHILIPPE QUEUILLE Chief ExFDVUJWe Ofm cer, OQFSBUJPOT .FNCFSPGUIF#1$&.BOBHFNFOU#PBSE “DIGITAL BANKING IS PART OF OUR DRIVE FOR ENHANCED PERFORMANCE AND EFFICIENCY”

e haWe set ourselves an ambitious document storage or payments haWe 5ABLETS INSTEAD Uarget for 203: €1 billion of cost enabled us to acIJFWe tXo thirds OF LEAFLETS… 8 synergies while improving our of these synergies. In all these areas, At the conference of the Union RVBMJUy of service. In just tXo years, resource pooling, cooperation and sociale pour l’habitat (USH), the merger of the central institutions, the sharing of good practices haWe the annual social housing eWent, the rationalization of our buildings, the QSPvided a poXerful impetus. Caisse d’Epargnes stand provided consolidation of procurement, the pooling %JHJUal banking is part of this drive J1ads on which people could of infrastrVDUures and information systems Gor performance and efm ciency in the EPwnload information leaflets and of activities such as cIFDk processing, pursuit of customer satisfBDUJPO from the group’s difGerent companies or receive them Cy e-mail. "55)&#"/26&1016-"*3&-0*3&&5-:0//"*4, &7&/*/$0.*/(1045*4%*(*5*;&% … WHERE C0/53"CTS $AN BE SIGNED After supplier invoices, customer statements, now handle virtually no paper and can &-&$530/*$"--Y transfer notices and checks from large users access the documents they need with 5IJTMJUUMFUBCMFUJTWFSZFBTy in 2010, incoming post was digitized in 2011. a few mouse clicks. At the same time, UPVTFGPSTJHOJOHOFXDPOUSBDUs The Postal Department – renamed Digital work in the Digital Logistics Department GPSQBTTCPPLBDDPVOUT. Logistics – digitizes and indexes documents has got a lot more interesting. The people 5IFEJHJUBMDPOUSBDUTBSFPOMy and forwards the digital correspondence there are no longer just postal staff but QSJOUFEJGUIFDVTUPNFSSFRVFTUTJU. electronically to the relevant staff. Where the fi rst people to read the mail. 4FWFOPGUIFHSPVQTCVTJOFTTFs necessary, the hardcopy version of the They are responsible for indexing, fi ling IBWFDPNFGPSXBSEUPQJMPUUIe correspondence is archived. and sending it to the right department, (SPVQQSPKFDUGPSCSBODICBTFd As a result of this system, departments a much more motivating job. FMFDUSPOJDTJHOBUVSFT

THE CAISSE D’EPARGNE ILE-DE-FRANCE IS IMPLEMENTING A DIGITAL ENTERPRISE PROJECT

'or the Caisse d’Epargne Ile-de-FSance QSemises in PBSis that bring O BVUomation to crFBUe a single $&*%' the digital entFSQSise is UPHether all the support functions input channel and prPvide a response to the problems of paper QSeviously spread oWer 16 sitFT a 360° view of customer needs; in business. But it is not just a Based around its digital systFNT O JOEVTUSial printing to fBDJMJUBUe UFDhnical question, it is a new wBy it has rethought its operating the processing of outgoing mail. of wPSLJOH which is much more than QSocesses and its 1,00 staff now 0 estate files haWe already been IT alone. It is a global, multifBDFUed XPSk fBTUer and more efmDJFOUMZ TDBOOFE and every yFBS more than QSPDFTT which is helping to Uo the benefit of customer satisfBDUJPO 0 loan files are processed NPEFSOJ[e and trBOTGPSm 5IFSe are three kFy elements in and 14 million pages scanned. the business. So the tarHet is zFSo the CEIDF digital business: The CEIDF’s tarHet is to digitize paper for the new Caisse d’Epargne O document digitization to and electronically stPSe around Ile-de-FSance head ofmDF single FMJNJOBUe paper handling; 20 million pages a yFBS * 32 I EXPERTISE

*/'03."5*0/5&$)/0-0(: #&)*/% T)E S$&/&4

5)&%3*7&50100-*5*/'3"4536$563&4500,"."+0345&1'038"3%8)&/#1$& 5)&#"/26&1016-"*3E #"/,4 5)&$"*44&4%&1"3(/&"/%/"5*9*4$3&"5&%"-#*"/5*50/%&$&.#&3 "/&/5*5:3&410/4*#-&'0R ."/"(*/(5)&(30614%"5"$&/5&34"/%5)&&953&.&-:)*()41&&%%"5"/&5803,4-*/,*/(5)&.50(&5)&3

Ultimately, the data-processing facilities of BPCE and Natixis and those of the IT-CE and i-BP subsidiaries will be grouped together into two data centers: Albiréo, in the Midi-Pyrénées region, in south-west France, and Antarès, in the Ile-de-France region, around Paris. This rationalization will subsequently generate major economic and operational synergies. Albiréo, a facility located in the Tarn EÏQBSUFNFOU (81), boasts four 750m2 computer rooms located on two separate sites 1 km apart linked together by an optical ﬁ ber network; there are plans to double the size of this facility in the future. The Antarès facility is located in the Seine-et-Marne EÏQBSUFNFOU (77), near Paris, and includes eight 750m2 computer rooms on two distinct sites 30 km apart – known as Sirius and Vega –, also connected by an optical ﬁ ber network.

.03&5)"/ ,.0'015*$"-'*#&3)"7&#&&/*/45"--&D 50$3&"5&"13*7"5&/&5803,

"/)&2"1130"$) Antarès is also playing a pioneering role to promote energy efﬁ ciency and environmental quality. It served as a pilot project and benchmark for the development of an HEQ label appropriate to data centers. Sirius and Vega are fully integrated into their respective environments thanks to their landscaped sites and have been designed to minimize their environmental footprint. The heat generated by the data-processing equipment is recovered and used to heat the premises themselves and adjacent buildings including an inter-municipal water sports center. *33 I

*5'"$*-*5*&4'035)&53"%*/('-0034 Owing to its outstanding requirements – 24,000 hours of computing time every day – the IT facilities of the trading departments work in synergy with the wider data-processing infrastructures.

&/(*/&&3*/( The engineering teams "%.*/*453"5*0/ constantly ensure the effective The IT Administration personnel management and necessary continuously monitor the smooth updating of equipment and functioning of the banking applications, networks to ensure the different remote banking services, electronic systems operate at maximum banking and interbank transactions. efﬁ ciency and reliability.

)0634"%": %":4"8&&, The IT services are available to customers in real time, 24 hours a day, 7 days a week.

4&$63*5: The security of the information systems is a constant imperative: 5)&%"5"130$&44*/('"$*-*5*&40'(3061$&*/"/654)&-- control of access to information, protection against intrusion and ."*/'3".&$0.165&34 130%6$*/(6150 .*14 , malicious acts, service continuity plans and data recovery plans to guarantee 4&37&34 803,45"5*0/4 %"5"4503&%'03"505"-0'1P service availability.

(1) Million instructions per second. (2) Po: petaoctet = 1 million billion characters. * 34 I EXPERTISE

$"1*5"-"/%-*26*%*5: 0/ C0634E F0R B"4&L I**

LIKE ALL OTHER BANKS, GROUPE BPCE WILL NEED TO MOBILIZE SUBSTANTIAL RESOURCES TO SATISFY THE DEMANDS OF BASEL III. IN 2011, BPCE AND NATIXIS PUT THEIR FINANCIAL STRUCTURE AND ORGANIZATION INTO MARCHING ORDER TO ANTICIP"TE THE REGULATORY OBLIGATIONS AND OPTIMIZE THEIR REFINANCING NEEDS. THE OBJECTIVE: TO BE READY FOR BASEL III BY 2013.

MEETING B"SEL III strating its determination to maintain all the 5IJTVOJmDBUJPOPGUIFUFBNTJTHPJOHIBOE REQUIREMENTS WITHOUT existing business relations between Foncia JOIBOE XJUI B TUFQQJOH VQ PG mOBODJBl )"VING RECOURSE TO and the different group entities. DPNNVOJDBUJPOT SFMBUFE UP UIF (SPVQs THE MARKET DSFEJUBOEBTUSFOHUIFOJOHPGUIFEFEJDBUFd "DIJFving the 2 Uarget ahead of TDhedule, 3&%6CING OVERALL LIQUIDITY TBMFTGPSDF. BPCE redeemed in .BSDh 1 é.2 billion 3&26*3&.&/54 of QSFGerence shares and €1 billion of deeply 5he Group plans to cut its medium- and long- $3&"TING A NEW C0VERED subordinated notes held Cy the TUate-owned term wholesale SFm nancing program from BOND ISSUER JOWestment DPNQBOy Société de prise de é.3 billion in 1 to €21 billion in 2. (SPVQF#1$&IBTBMTPTFUVQBOFXDPWFSFd participation de l’État. More CSPBEMZ, its goal is to slash its UPUal CPOEJTTVFS #1$&4') TQFDJBMJ[JOHJOIPVT At the same time, the Group DPOm rmed that MJRVJEJUy requirement from €25 billion to JOHmOBODFCPOET-BVODIFEPO.BZ , it Xas DPOm dent in its BCJMJUy to satisfy the éCJMMJPO JODMVEJOHéCJMMJPOGPS/BUJYJT JUT JOBVHVSBM mWFZFBS JTTVF XBT WFSZ XFMl #asel III DBQJUal requirements without IBving SFDFJWFE CZ UIF NBSLFU BUUSBDUJOH NPSe recourse to the NBSLets. At the end of De- SETTING UP A JOINT UIBOéCJMMJPOJOMFTTUIBOPOFIPVS. cember 1, JUs Core 5JFS-1 $5 DBQJUal REFINANCING POOL 5IFHSPVQTTFDPOEJTTVFS $PNQBHOJFEe ratio stood at 9.1%. "HBJOTUBCBDLHSPVOEPGNBSLFUJOTUBCJMJUZ, 'JOBODFNFOU'PODJFS JTPOFPGUIFXPSMEs Selling assets, reducing MJRVJEJUy require- B HSPXJOH TIPSUBHF PG MJRVJEJUZ JO &VSPQe MFBEJOH JTTVFST PG DPWFSFE CPOET PCMJHB ments, acquiring OFw resources: BPCE is BOE JODSFBTFE JOUFSCBOLDPNQFUJUJPO UIe UJPOTGPODJÒSFT *O JUMBVODIFEUISFe Xorking resolutely to acIJFWe this goal. USFBTVSZ BOE DFOUSBM CBOL DPMMBUFSBM NBO CPOEJTTVFTUIBUXFSFXFMMSFDFJWFECZJO BHFNFOUUFBNTPG#1$&BOE/BUJYJTXFSe WFTUPST GPS B UPUBM BNPVOU PG é CJMMJPn SELLING EQUITY INTERES54 DPNCJOFEJO+VOF BOEOPXXPSLVO XJUINBUVSJUJFTSVOOJOHGSPNUISFFUPUFn *O UIF (SPVQ SFMFBTFE é CJMMJPO Pf EFSBTJOHMFNBOBHFNFOUTUSVDUVSFSFTQPO ZFBST $PSF5JFSDBQJUBM JNQSPWJOHJUT$5SBUJPCy TJCMFGPSNBOBHJOHCPUI#1$&BOE/BUJYJs (1) When calculating equitZ, the Core 5JFS-1 (CT1) ratio only counts DBQJUal contributed by shareholders and proﬁts; hybrid equity CBTJTQPJOUT XJUIUIFTBMFPGUXPFRVJUy TJHOBUVSFT. is eYcluded. JOUFSFTUT 5IF BJN PG TFUUJOH VQ UIJT KPJOU SFmOBODJOg O In June, it sold its equity stake in Eurosic QPPMJTUPQSPWJEFTFDVSFBOEBDDFTTJCMFMJRVJ (32.1% held by Nexity Participations and EJUZGPSUIF(SPVQBTBXIPMFBOEJUTEJGGFSFOt 20.1% by Banque Palatine). CVTJOFTTMJOFT. O In July, BPCE m nalized the sale of its 98% holding in Foncia to a consortium formed by Bridgepoint and Eurazeo. The Group subsequently took a stake of approximately 18% in the Foncia acquisition vehicle, demon- *35 I

5)&30-&0'"#"/,: 505",&-&/%*/G "/%$0/7&34*0/3*4,4

5he principal activity of a retail bank is to collect its DVTUPNFST’ deposits and conWert them into loans. 5he conWersion of resources that can be withdrawn within a fFw daZs into loans maturing in 3, 5, 10 or FWen 30 years, requires banks to manage liquidity risk. -JRVJEJUy risk arises from constant changes in the amount and matVSJUy of incoming and outgoing funds. At certain times, banks haWe surplus liquidity to lend, while at others UIFy haWe liquidity requirements and haWe to borSPX. Here again, there are legal liquidity ratios to be maintBJOFE In addition, the risk of default by a customer or counterparty means that banks are required to maintain a minimum leWel of capital for each commitment, weighted to match the leWel of risk. 5hese leWels are specified by capital adequacy ratios. 5he Basel III standards unify and reinforce the capital adequacy and liquidity ratios applicable to banks and set a timetable for implementBUJPO 5o fulfi ll the new capital adequacy requirements, banks IBWe to keep in reserWe a larger share of their profits and to be more precise when targeting their risks. 5o meet the new liquidity requirements, banks are obliged to increase their aWailable reserWes. 5hese new reserWes should allow the bank to cope with massive withdraXals Cy its customers in the eWent of a major crisis, without IBving to borSPw on the capital markFUT

LIQUIDITY RESERVES: €110 BILLION FOR GROUPE BPCE

Liquidity reserves include liquidity and collateral are accepted and the characteristics eligible for fi nancing from the European Central of the eligible loans. Bank or a banking counterparty. At the end of December 2011, Groupe BPCE’s In particular, the provision of collateral is liquidity reserves stood at €110 billion, essential in order to obtain refi nancing from including €83 billion of available collateral the European Central Bank. This collateral may eligible with the central banks and €27 billion consist of loans to companies with good credit of cash invested with the central banks. ratings, negotiable instruments or securitized Part of these reserves will be recognized as mortgages and loans to companies. Each a liquidity reserve within the framework national central bank specifi es which instruments of future changes in regulatory liquidity ratios. * 36 I OUR PLANET AND SOCIETY '"33&"$)*/( $0..*5.&/5S *37 I

$0..*55&%50(3&&/"/%3&410/4*#-E (3085) 40$*"-130(3&44"/%40$*"L 40-*%"3*5:5)*4*45)&.&"/*/(0F 4645"*/"#-&%&7&-01.&/5'03(3061E #1$&5)&(30614"*.*450&.#0%Y 5)&4&7"-6&4*/5)&8":*5803,4#05)"S "#64*/&44"/%"4"#"/,*/(*/45*565*0/

PUJWated Cy the Walues of humanism, social TPMJEBSJUZ, cooperation and SFTQPOTJCJMJUy – . all Walues that originally inspired and VOEFS pinned their creation – the #anque 1opulaire banks and Caisses d’Epargne IBWe QMBZed a driving role both in the economic and m nancial emancipation of the 'SFODh and in the EFWelopment of the DPVOUSZs EJGGerent regions. Groupe BPCE continues to embrace this historical re- TQPOTJCJMJUy UPXards the FDPOPNy and TPDJFUy Cy engag- JOH, together with its companies, in a process of sus- Uainable QFSGormance in GBWor of economic and social EFWFMPQNFOU "s 'SBODFs no.1 QSPvider of TPMJEBSJUZ-based TBWJOHT(1) and microcredit TPMVUJPOT , a pioneer in FOvironment- related m nance, a leading QMBZer in terms of the number of SFOFXable energy projects m nanced and at the Gorefront of socially responsible JOWFTUNFOU , the Group DPOm rms its commitment to the FOvironment, to social integration and social TPMJEBSJUZ. "DDPSEJOHMZ, it set itself three goals in its 200-203 strategic plan:

O to involve all its entities in a campaign to reduce their carbon footprint; O to become the benchmark lender in individual and professional microcredit; O to identify and encourage new business streams via green and responsible growth. (1) Source: Finansol. (2) Source: scope of "die reﬁ nancing, bank loans guaranteed Cy France "DUJWe and the Social Cohesion FVOE (3) Source: Natixis "sset Management.

PROGRESS THROUGH SHARING

5IFCBOLTCFMPOHJOHUP(SPVQF#1$&BSe TJHOBUPSJFTPGUIF6OJUFE/BUJPOT(MPCBl $PNQBDU5ISPVHIJUTNFNCFSTIJQPG034& BOE$43&VSPQF (SPVQF#1$&JTBCMFUo TIBSFJEFBTBOEFYQFSJFODFJOUIFTQIFSe PGDPSQPSBUFTPDJBMSFTQPOTJCJMJUZXJUIPUIFr DPNNJUUFEDPNQBOJFT (1) 0CTFSWatoire de la Responsabilité sociétale des FOUSFQSJTFT (or i0CTFSWBUPSy of Corporate Social 3FTQPOTJCJMJUZw (2) Corporate Social RFTQPOTJCJMJUy Europe. * 38 I OUR PLANET AND SOCIETY

$43*/063$03E #64*/&44&S

INDIVIDUAL, CORPORATE AND LOCAL COMMUNITY PROJECTS ENCOMPASS SOCIAL, ENVIRONMENTAL AND SOCIETAL ISSUES THAT ALSO REQUIRE FINANCIAL SOLUTIONS. THE COMPANIES BELONGING TO GROUPE BPCE ARE COMMITTED TO BRINGING THEIR CUSTOMERS THE SOLUTIONS THEY EXPECT AND TO F"$*-*5"TING THE DEVELOPMENT OF A MORE 4645AINABLE ECONOMY

FINANCING AND PROMO5*/( WFIJDMFT XJUI MPX $0 FNJTTJPOT5IF $BJTTFs GREEN GRO85) E&QBSHOF DIBOOFM TPNF PG UIF SFTPVSDFT Pf $PNCBUJOH HMPCBM XBSNJOH BOE QSPUFDUJOH UIe UIF 4VTUBJOBCMF %FWFMPQNFOU QBTTCPPL TBWJOHs FOWJSPONFOU BSF UXP QSJPSJUJFT UIBU BSF GPTUFS BDDPVOUJOUPmOBODJOHFOFSHZTBWJOHCVJMEJOHXPSk JOHJOOPWBUJPO HSPXUIBOEFNQMPZNFOU(SPVQe BOEUIFQVSDIBTFPGDMFBOWFIJDMFTXJUIUIF&DVSFVJl Natixis Lease ﬁ nances 25% #1$&JTQMBZJOHJUTQBSUXJUImOBODJOHBOEJOWFTU $SÏEJU%ÏWFMPQQFNFOU%VSBCMFMPBO of medium-sized REn(1) NFOUTPMVUJPOTEFTJHOFEGPSJOEJWJEVBMT DPNQB Crédit 'oncier OPUably PGGers a 1rêt )BCJUat projects in France. OJFT MPDBMDPNNVOJUJFT TBWFSTBOEJOWFTUPST. Neuf loan Gor OFw EXellings, XIJDh comes with reduced FMFDUSJDJUy prices Gor energy FGm ciency &$0-0"/4'03*/%*7*%6"L and CFUter rates Gor buildings that include solar $6450.&3S QPXer or loX-energy building solutions. 5IF SFUBJM CBOLT XIJDI mOBODF UIF BDRVJTJUJPO Pf WFIJDMFT BOE SFBM FTUBUF CZ JOEJWJEVBMT BOE UIFJr SUBSIDIZED GREEN L0"/4 /P IPNF JNQSPWFNFOU QSPKFDUT QMBZ BO JNQPSUBOt Companies, local communities and WPMVOUBSy Natixis, the world’s 9UI largest m nance arranger for REn projects. SPMFJOSBJTJOHBXBSFOFTTBCPVU BOEQSPWJEJOHTVQ sector organizations IBWe access to numerous QPSU PO TVTUBJOBCMF EFWFMPQNFOU 5IF #BORVe solutions from the #anque 1opulaire banks and (Source: InfrastrVDUure Journal, +une 30, 20 1PQVMBJSFCBOLTXFSFQJPOFFSTXJUIUIFJS0 Caisses d’Epargne to m nance their FOviron- (1) RFOFXable energy MBVODI PG 13&7BJS UIF mSTU EFEJDBUFE MPBO GPr NFOUal JOWestments through dedicated funds, FDPGSJFOEMZ JOWFTUNFOU GPMMPXFE JO Cy reduced-rate m nance from the European *OWest- $0%&7BJS UIFmSTUFDPMPHJDBMQBTTCPPLTBWJOHs ment #ank (EIB), or UVSOLFy access to the FOFS BDDPVOU XIJMF UIF "6507BJS TPMVUJPO mOBODFs HZ-saving certiﬁ cates system.

THREE MAJOR RENEWABLE ENERGY PROJECTS

'SBODFs biggest -BSHe-scale biomass 80 ofGTIPSe wind turbines QIPUPWoltaic poXer DPHFOFSBUJPO in GerNBOy TUBUJPO Natixis Lease has put Natixis put tPHether the &VSPmEFNF is UPHether the ﬁnancing mnance for this prPKFDU QBSUOFSing GDF Suez of a 16 MWp poXer MPDBUed 96 km ofGTIPSF in the 24.5 MWp station in the Somme. With annual production of QPXer station at Curbans, It will prPvide 55 tonnes 0 GWh (equivalent to in PrPWence-Alpes-Côte of steam per hour to two the consumption of a city E"[VS Commissioned in OFJHICPSing fBDUPSJFT of 20 0 inhabitants), this facility supplies (MPCBM5FDI will prFWent the electricity needs of the emission of 730,00

0 people. Uonnes of CO per yFBS (1) MWp: megaXBUt-peak. *39 I

Green grPwth symposium More than 400 economic decision-makers took part in the ﬁrst symposium devoted to green and responsible growth, organized by Groupe BPCE on March 22, 2011 around the topic of renewable energies and their ﬁOBODJOH

/"TIXIS, SPECIALIZING &/&3(:&''*$*&/$:"/%4$)00-4: IN SUS5AINABLE GRO85) "/*//07"5*7&111 In support or in association with other Group entities, Natixis proposes m nancing solutions to SFOPWBUFETFDPOEBSZTDIPPMTXFSFEFMJWFSFEUo promote TVTUainable HSPwth, whether in SFOFX UIF"MTBDFSFHJPOVOEFSUIFmSTUQBSUOFSTIJQDPOUSBDt able FOFSHZ, public transport, Xaste manage- JODMVEJOHBOFOFSHZFGmDJFODZUBSHFU5IFPCKFDUJWFs ment or socially responsible inWestment. XFSFFOFSHZTBWJOHTBOESFEVDUJPOJO$0 Natixis -ease, via its TVCTJEJBSy Natixis &OFS FNJTTJPOTPWFSUIFUXFOUZZFBSTPGUIFDPOUSBDU géco, is BDUJWe in 'rance in the lease m nancing SFQSFTFOUJOHBOPWFSBMMUPUBMPG UPOOFT of SFOFXable energy projects ranging in Walue '*%&111BOEUIF$BJTTFE&QBSHOFE"MTBDFBSe from €5 to €50 million. 28 operations with a JOWPMWFEJOUIFQSPKFDU combined output of 20 MW Xere m nanced in 1 with the support of the #anque 1opulaire banks and the Caisses d’Epargne. %&$*4*0/4611035500-4 'or projects of more than €50 million, the 1roject Financing business of Natixis PQFS 5IF#JMBO$BSCPOF$PMMFDUJWJUÏToUIFMPDBMHPWFSONFOt BOEFOWJSPONFOUBMBVEJUUPPMT-VDJF GSPN$SÏEJt ates around the Xorld in numerous sectors: DBSCPOBVEJUoXBTEFTJHOFEXJUIUIF"%&.E $PPQÏSBUJG BOE$PSEÏ GSPNUIF$BJTTFE&QBSHOF) QIPUPWPMUaic, TPMBS-thermal, wind and biomass. FOWJSPONFOUBOEFOFSHZNBOBHFNFOUBHFODZUPIFMp BSFQSPWJEFEGSFFPGDIBSHFUP4.&T5ISPVHIUIe 1 projects, with a UPUal DBQBDJUy of 1,260 .8, MPDBMBVUIPSJUJFTNBLFHSFFOIPVTFHBTFNJTTJPOTBn &OWPMBOE &OWJSPOOFNFOUQSPDFTTFT 4.&s Xere ﬁ nanced in 20 JOUFHSBMQBSUPGUIFJSJOWFTUNFOUEFDJTJPOT%FWFMPQFd BOENJDSPCVTJOFTTFTDBOUBLFUIFJSmSTUTUFQTJn 'PS JUT QBSU /BUJYJT &OWJSPOOFNFOU *OGSB XJUIUIFTPDJFUBMSBUJOHBHFODZ7JHFP UIFTPDJBl FOWJSPONFOUBMNBOBHFNFOU TUSVDUVSFT NBOBHFT NPSF UIBO é CJMMJPn IFME JO TJY JOWFTUNFOU GVOET EFEJDBUFE Uo QVCMJDQSJWBUF QBSUOFSTIJQT PS SFOFXBCMF FO FSHZ '*%&111 $VCF *OGSBTUSVDUVSF 'JEFNF, &Ruator PSJODJQMFT &VSPmEFNF &VSPQFBO$BSCPO'VOEBOE&VSP Natixis is a signatory to the Equator PrJODJQMFT which commit it to assessing QFBO,ZPUP'VOE the social and enWJSonmental impact of the projects it ﬁOBODFT * 40 I OUR PLANET AND SOCIETY

3&410/4*#-& 40-*%"3*5:#"4&%, $BJTTFTE&QBSHOF5PHFUIFS UIFZBUUSBDUFENPSe 4645"*/"#-&*/7&45.&/540-65*0/4 UIBOPGTPMJEBSJUZCBTFETBWJOHTJO'SBODF. é (SPVQF #1$&T CBOLT PGGFS B XJEF BSSBZ PG JO /BUJYJT"TTFU.BOBHFNFOUJTUIFMFBEJOHNBOBHFr #*--*0/ WFTUNFOUT UISPVHI XIJDI TBWFST BOE JOWFTUPSs PG TPMJEBSJUZCBTFE FNQMPZFF TIBSFIPMEJOH GVOEs in socially responsible DBO IBWF B QPTJUJWF BOE QSBDUJDBM JNQBDU PO UIe JO'SBODF DPNQSJTJOH43*BOETPMJEBSJUZ and solidarity-based FOWJSPONFOU TPDJFUZBOECVTJOFTTHPWFSOBODF Pr CBTFEJOWFTUNFOU. JOWFTUNFOU DPOUSJCVUFEJSFDUMZUPHSFBUFSTPDJBMTPMJEBSJUZ 4PMJEBSJUy-CBTFEJOWFTUNFOUJO'SBODFJTDIJFny NBOBHFEXJUI"EJF BOBTTPDJBUJPOTQFDJBM 0/&0''3"/$&4-&"%*/(1-":&34*N J[JOH JO FDPOPNJD JOJUJBUJWF PG XIJDI (SPVQe 40$*"--:3&410/4*#-&*/7&45.&/5 #1$&JTUIFQSJODJQBMQBSUOFS"EJFJTUIFMFBE "T B QJPOFFS JO TPDJBMMZ SFTQPOTJCMF JOWFTUNFOt JOH PSHBOJ[BUJPO JO 'SBODF QSPWJEJOH mOBODe 43* /BUJYJT "TTFU .BOBHFNFOU DPNNBOET a BOE TVQQPSU GPS UIF VOFNQMPZFE BOE QFPQMe MFBEJOHQPTJUJPOJO'SBODFXJUIéCJMMJPOPGBTTFUs SFDFJWJOH NJOJNVN XFMGBSF CFOFmUT XBOUJOg 9 VOEFSNBOBHFNFOUBUUIFFOEPG*UIBTEF UPTFUVQUIFJSPXOCVTJOFTTFT micro-loans granted in 2011 WFMPQFEBGVMMSBOHFPG43*GVOETFODPNQBTTJOHUIe 4IBSFE SFWFOVF GVOET BSF FTTFOUJBMMZ EFWFM for more than €125 million. NBJOBQQSPBDIFTJOUFHSBUFE UIFNBUJD FUIJDBMBOd PQFE CZ $SÏEJU $PPQÏSBUJG"MM PS QBSU PG UIe TPMJEBSJUZCBTFEJOWFTUNFOU. SFWFOVFT GSPN JOWFTUNFOUT JT QBJE UP B IV 5IF /BUJYJT *NQBDU SBOHF JT UIVT NBEF VQ PG 0 NBOJUBSJBO PS DIBSJUZ PSHBOJ[BUJPO $SÏEJt GVOET FYDMVEJOH EFEJDBUFE GVOET BOE FNQMPZFe $PPQÏSBUJGQSPWJEFTBSBOHFPGTIBSFESFWFOVe TBWJOHTTDIFNFT DPWFSJOHBMMBTTFUDMBTTFTFRVJ QSPEVDUTNVUVBMGVOET JODMVEJOHUIF'BJNFt UJFT EJWFSTJmFE mYFEJODPNFBOENPOFZNBSLFU %ÏWFMPQQFNFOU GVOE &VSPQFT mSTU TIBSFd .PSFCSPBEMZ /BUJYJT"TTFU.BOBHFNFOUJTHSBEV SFWFOVF GVOE QBTTCPPL TBWJOHT BDDPVOUT, BMMZ JOUSPEVDJOH FOWJSPONFOUBM TPDJBM BOE HPWFSO FUDBMMPGXIJDICPBTUUIF'JOBOTPMMBCFM branches are located in so-called BODF &4( DSJUFSJBJOUPBMMJUTJOWFTUNFOUEFDJTJPOT. “sensitive” urban areas (170 Caisse 1BMBUJOF"TTFU.BOBHFNFOU DPOWJODFEUIBUBOPO /P.*$30$3&%*541&$*"-*4T d’Epargne branches and 67 Banque mOBODJBMBQQSPBDIDBODPOUSJCVUFVTFGVMMZUPUSBEJ Groupe BPCE is 'SBODFs leading QSPvider of Populaire branches). UJPOBMmOBODJBMBOBMZTJT NBOBHFTOJOF43*GVOET personal and QSPGessional microcredit solutions (including support NFBTVSFT with aggregate /P*/40-*%"3*5:#"4&%4"7*/(4 ) loans of €125 million in 20. (SPVQF#1$&JTUIFMFBEJOHDPMMFDUPSPGTPMJEBSJ 5he #anque 1opulaire banks, Crédit Coopératif UZCBTFE TBWJOHT UISPVHI $SÏEJU $PPQÏSBUJG UIe and the Caisses d’Epargne m nance more than #BORVF 1PQVMBJSF CBOLT BOE /BUJYJT *U JT OP1 40% of the micro-loans guaranteed Cy 'rance JOTPMJEBSJUZCBTFEJOWFTUNFOUBOETIBSFETBWJOHT, "DUJWe, the leading QMBZer in the social and soli- OP JO TPMJEBSJUZ GVOET XJUI UIF *OTFSUJPO &N EBSJUZ-based sector specializing in OFw job crea- QMPJTSBOHFEJTUSJCVUFECZUIF$BJTTFTE&QBSHOF. tion. 1SPGessional micro-loans enable people (SPVQF #1$& JT BMTP UIF MFBEJOH DPMMFDUPS Pf without access to traditional sources of fund- TPDJBMMZ SFTQPOTJCMF JOWFTUNFOU GPS FNQMPZFe ing to set up their Pwn businesses. 5he (SPVQs TBWJOHT TDIFNFT UISPVHI UIF DPNCJOFE XPSk banking OFUXorks Xork with associations that PG /BUJYJT *OUFSÏQBSHOF #BORVF 1PQVMBJSF BOd select and support new business creators.

PREVENTING EXCESSIVE DEBT 'JOBODFT1ÏEBHPHJF BOBTTPDJBUJPODSFBUFECZUIF'SFODITBWJOHTCBOLTJO PSHBOJ[FTBXBSFOFTTCVJMEJOHBOEUSBJOJOHJOJUJBUJWFTEFWPUFEUPNPOFZNBOBHFNFOt EFTJHOFEGPSBMMUZQFTPGQVCMJD*UFOEFBWPSTUPGPTUFSBOVOEFSTUBOEJOHPGCBOLJOg TZTUFNTBOEUPIFMQQFPQMFUPNBOBHFUIFJSNPOFZJOPSEFSUPBWPJEFYDFTTJWFEFCU 5IFBTTPDJBUJPOBMTPPQFSBUFTJOQBSUOFSTIJQXJUIUIFEJGGFSFOUOFUXPSLTPGTPDJBl XPSLFST*O 'JOBODFT 1ÏEBHPHJFTUBHFE USBJOJOHDPVSTFTBOEXPSLFd XJUI QFPQMF JODMVEJOH ZPVOHQFPQMF *41 I

(Soupe BPCE is a member of "vise, an association that QSomotes social JOOPWation and social FOUSFQSFOFVSship by advising and supporting OFw business creatorT

5IF $BJTTFT E&QBSHOF BOE $SÏEJU $PPQÏSBUJf BSF SFTQFDUJWFMZ UIF mSTU BOE TFDPOE MBSHFTt 1 /P1 QSPWJEFST PG QFSTPOBM NJDSPMPBOT HVBSBOUFFd /P CZUIF4PDJBM$PIFTJPO'VOE8JUIUIF1BSDPVSs manager of solidarity-based collector of solidarity-based TBWJOHT employee savings schemes. $POmBODFQSPHSBN UIF$BJTTFTE&QBSHOFQSP (Source: 201 edition of Finansol (Source: Finansol surWFZ, June 20 WJEF CPSSPXFST XJUI GVMM QFSTPOBM TVQQPSU JO QSPGessional barometer surWFy DMVEJOHBTTFTTNFOU UBSHFUFECBOLJOHTFSWJDFs of solidaritZ-based ﬁ nance). BOENPOFZNBOBHFNFOUUSBJOJOHEFMJWFSFECy UIF 'JOBODFT 1ÏEBHPHJF "TTPDJBUJPO #PS SPXFSTBMTPSFDFJWFTVQQPSUGSPNUIF1BSDPVSs $POmBODF QMBUGPSNT QBSUOFS OFUXPSLT TVDh BT UIF MPDBM TPDJBM BDUJPO DFOUFST $DBT UIe EFQBSUNFOUBMGBNJMZGFEFSBUJPOT 6EBG BTXFMl BTUIF4FDPVSTDBUIPMJRVFBOE3FTUPTEVDVr /BUJYJTBOE&DPm*OWFTUJTTFNFOUT UIFBTTFUNBOBHFNFOt DIBSJUJFT BOENPSFUIBOMPDBMBOEOBUJPOBl DPNQBOZPGUIF$SÏEJU$PPQÏSBUJGHSPVQ BSe CPEJFT TJHOBUPSJFTUPUIF1SJODJQMFTGPS3FTQPOTJCMF*OWFTUNFOt (1) Source: Finansol. (2) "ssociation pour le droit à l’initiative économique 13* 5IFZBSFCPUIBDUJWFMZJOWPMWFEJOUIFQSJODJQBl "ssociation for the right to economic initiativF (3) 5he Finansol label identiﬁes solidaritZ-based inWestment products. NBSLFUQMBDFJOJUJBUJWFTJOUIJTTQIFSF (4) Fonds de Cohésion Sociale and France "DUJWe.

MICROFINANCE: LEARNING AND SHARING

O 5IF'SFODI.JDSPmOBODF"TTPDJBUJPO O 5IF/BUJYJT*NQBDU/PSE4VE DSFBUFEXJUIUIFTVQQPSUPG(SPVQe %ÏWFMPQQFNFOUGVOEJODMVEFTVp #1$& GPTUFSTDPPQFSBUJPOCFUXFFn UPPGTIBSFTJTTVFECy SFTFBSDIFST QSBDUJUJPOFSTBOEWBSJPVs NJDSPmOBODFJOTUJUVUJPOT .'*) PSHBOJ[BUJPOT JOEFWFMPQJOHDPVOUSJFT O 5IF'ÏEÏSBUJPO/BUJPOBMFEFs O $SÏEJU$PPQÏSBUJGIBTBQPMJDy #BORVFT1PQVMBJSFTGVOETUIFOFX$IBJr PGCVZJOHTIBSFTJO.'* #BCZMPBO JONJDSPmOBODFBUUIF"VEFODJBTDIPPl 4FGFB 4JEJ BOEHSPXUIDBQJUBl PGCVTJOFTTBENJOJTUSBUJPOXJUIBWJFw DPNQBOJFTXPSLJOHXJUITPDJBl UPGPTUFSJOHSFTFBSDIJOUIJTTQIFSF FOUFSQSJTFmSNT * 42 I OUR PLANET AND SOCIETY

$43*/06301&3"5*0/4

GROUPE BPCE ACTIVELY MANAGES ITS DIRECT IMPACT ON THE ENVIRONMENT MONITORS THE QUALITY OF STAFF WORKING CONDITIONS, AND PROMOTES DIVERSITY

3&%6CING OUR ENVIRONMENTAL FTUBUFBTTFUT5IF$BJTTFE&QBSHOFEF#PVSHPHOe '00513*/5 'SBODIF$PNUÏJTUIFmSTU'SFODITBWJOHTCBOLUo $BSSZJOH PVU SFOPWBUJPO PS OFX DPOTUSVDUJPO BD IBWFPCUBJOFE*40DFSUJmDBUJPOGPSJUTFOUJSe DPSEJOHUPUIFDSJUFSJBMBJEEPXOJO)&2 PS##$ SBOHFPGPQFSBUJPOT JODMVEJOHCPUIJUTIFBEPGmDe TUBOEBSET SBJTJOHBXBSFOFTTPGiHSFFOwQSBDUJDFT, BOECSBODIFT. % JOUSBOFU TJUFT EFEJDBUFE UP TVTUBJOBCMF EFWFMPQ Recycled paper and ofﬁ ce supplies NFOU(SPVQF#1$&FOUJUJFTBSFXPSLJOHUPSFEVDe 3&%6$*/((3&&/)064E made from recycled materials UIFJSFNJTTJPOTBOEDPOTVNFMFTTBOENPSFFGm ("4&.*44*0/4 accounted for 40% of items DJFOUMZ5IFBJNJTUPTIBSFBOEBQQMZCFTUQSBDUJDFs All the (SPVQs companies IBWe UBLen posi- ordered and 50% of the value BDSPTTUIF(SPVQ UJWe steps to reduce their carbon Gootprint with of orders sent to BPCE. *OPSEFSUPTQFFEUIJOHTBMPOH #BORVF1PQVMBJSe a Gocus on Gour QSJPSJUy action areas: energy 1SPDVSFNFOUs approved supplier in the last quarter IBT TJHOFE B QBSUOFSTIJQ XJUI UIF /JDPMBT )VMPt consumption, USBWel, QVSDhases of goods and of 2011. 'PVOEBUJPO GPS /BUVSF BOE )VNBOJUZ XIJMF UIe TFSvices, ﬁ xed assets. $BJTTFE&QBSHOFIBTUFBNFEVQXJUI"EFNFBOd Already in 05, the Caisses d’Epargne began 7JHFP. conducting so-called Bilans $BSCPOF¥ (carbon 4FWFSBM (SPVQ TVCTJEJBSJFT IBWF TFU VQ BO FOWJ audits) using the method EFWeloped Cy "deme. SPONFOUBM NBOBHFNFOU TZTUFN &.4 CBTFd 7JSUually all the TBvings banks IBWe conducted PO *40 TUBOEBSE /BUJYJT IBT FOKPZFE *4O their carbon audits and introduced plans to videoconferences at Natixis DFSUJmDBUJPO TJODF GPS UIF PQFSBUJPn reduce emissions in a process that includes in 2011. BOE NBJOUFOBODF PG PG JUT NBOBHFE SFBl suppliers in this approach.

ECONOMICAL BRANCHES

O *OSFTQPOTFUPBDBMMGPS-PX$POTVNQUJPO#VJMEJOH O #BORVF1PQVMBJSFEV4VEIBTmUUFEUIF1FSQJHOBn QSPKFDUTCZUIF#PVSHPHOF3FHJPOBM$PVODJM UIF$BJTTe 1PMZHPOFCSBODIXJUIQIPUPWPMUBJDQBOFMT E&QBSHOFEF#PVSHPHOF'SBODIF$PNUÏTVCNJUUFEBQSPKFDt 5IFZQSPEVDFFOPVHIFMFDUSJDJUZUPQPXFS5 GPSBCBOLCSBODIJO$SÐDIFTTVS4BÙOF5IJTJOJUJBUJWFXBs UXFOUZXBUUMPXFOFSHZMJHIUCVMCTGPSIPVSTFWFSy

DIPTFOGPSJUTJOOPWBUJWFDIBSBDUFSUJNCFSGSBNF HSFFOSPPG XPSLJOHEBZPGUIFZFBS BOETBWFUPOOFTPG$0 VTFPGXPPEXPPMGPSJOTVMBUJPO SFEVDFEXJOEPXBSFBT 'PSUIFJSQBSU UIF/BSCPOOF3ÏQVCMJRVFBOE4BJOU"TTJTDMe UIFSNBMBJSMPDL CSBODIFTJO1FSQJHOBn EVBMnPXWFOUJMBUJPn IBWFSFWFSTJCMFIFBt XJUIFOFSHZSFDPWFSZ QVNQTUPIFBUPSDPPl -&%MJHIUJOH BOd UIFJSN¤PGPGmDF BVUPNBUJDQPXFSTIVU TQBDF DVUUJOH

PGG0QFOFEJO.Brch $0FNJTTJPOTCZ UIJTOFXCSBOch UPDPNQBSFE DPOTVNFTIBMGUIFFOFSgy XJUIFWFOUIFNPTU PGBUSBEJUJPOBMCSBODI FGmDJFOUCPJMFST *43 I

In 0, the #anque 1opulaire banks designed a sectoral carbon audit Uailored to the activities of the SFUail banking TFDUPS. 1recise and easy to implement, it can be updated FWFSy ZFBS. Dis- cussions are VOEFSXBy on Fxtending it to the Caisses d’Epargne and BPCE International et Outre-mer, the (SPVQs international and PWFS seas operations. A carbon audit TQFDJm cally designed for ofm ce buildings is in preparation. Natixis DBSried out its m rst Bilan $BSCPOF¥ in 06, and repeated it in 1 Gor all its 'SFODh operations. A carbon reduction action plan will be introduced in 20 Numerous JOJUJBUJWes IBWe been UBLen to TBWe energy: heat FGm ciency assessments, insula- tion and more FGm cient equipment Dhoices, MPX energy MJHIUJOH, occupancy detectors, GBDJMJUJFT management, more UISJGUy EBUa centers (see page 32). 4FWeral entities IBWe MBVODhed corporate USBWel plans and set up car sharing TDhemes. 5he wide- spread use of WJEFPDPOGerencing also reduces USBWel-related emissions. #*-"/$"3#0/&¥ 5)3&&1*-05#"/26&1016-"*3&#"/,S 3&%6$*/($0/46.15*0/ *OJUJBUJWFTIBWFCFFOUBLFOJONBOZPGUIF(SPVQs 5ISFF#BORVF1PQVMBJSFCBOLTo"UMBOUJRVF -PJSFFU-ZPOOBJT BOE3JWFTEF1BSJT TVCTJEJBSJFTBOE OPUBCMZ BU#1$&'PSFYBNQMF, oBSFQJMPUJOHUIFTPGUXBSFEFWFMPQFECZ#1$&T*5%FQBSUNFOUBOEJ#1UPUSBDL

XBUFSDPOTVNQUJPOJTCFJOHSFEVDFECZUIFVTe UIFBOOVBMSFTVMUTPGUIFBDUJPOQMBOTJNQMFNFOUFEUPSFEVDF$0FNJTTJPOT PG CBTJO EFUFDUPST BOE EVBMDJTUFSO UPJMFUT UIe FMJNJOBUJPOPGBJSDPOEJUJPOFSTXJUIOPOSFDZDMFd XBUFS QSFWFOUJWF NBJOUFOBODF UP BWPJE o Pr 53"7&-1-"/4 RVJDLMZEFUFDUoQJQFXPSLMFBLT SBJOXBUFSSFDPW 5IF$BJTTFE&QBSHOF/PSNBOEJFIBTUFBNFEVQXJUI7JBDJUÏT UIFHSFBUFS$BFO FSZTZTUFNTBOENVMDIJOHGPSHSFFOBSFBT QVCMJDUSBOTQPSUGFEFSBUJPO JOUIFSFHJPOTmSTUMPDBMNPCJMJUZQMBO*UIBTQSPWJEFE 4JHOJm cant FGGorts IBWe also been made to re- JUTTUBGGXJUIBDDFTTUPBDBSTIBSJOHXFCTJUF BnFFUPGFMFDUSJDCJDZDMFT BOESFEVD duce consumption of paper and ink cartridges: UJPOTPOUIFQVCMJDUSBOTQPSUOFUXPSL adjustment of photocopier TFUtings and account TUatements printed on UXo sides, electronic EPDVNFOUation, reassessment of the CSBODIFT’ /"5*9*4"i(3&&/$0/4536$5*0/$)"35&3w real needs in terms of posters and leaﬂets. 4FMFDUJWe sorting bins IBWe been JOTUalled in of- %FWFMPQFEXJUI#VSFBV7FSJUBT UIJTDIBSUFSJOUSPEVDFTSVMFTPGFOWJSPONFOUBMHPPE m ces together with collection points Gor spent QSBDUJDFGPSDPOTUSVDUJPO NPEFSOJ[BUJPOBOEDPOWFSTJPOXPSL*UQSPWFEJUTXPSUIJO CBUteries and cartridges Gor SFDZcling Cy ap- UIFSFGVSCJTINFOUXPSLDBSSJFEPVUPOUIF/BUJYJTTJUFTJO#PSEFBVY 5PVMPVTFBOE QSPWed operators. $IBSFOUPOMF1POU 4FWeral contracts IBWe been signed with m rms FNQMPying disabled XPSLers and associations promoting social integration Gor the process- 3&.05&$0.165&34)65%08/ ing and SFDZcling of computer and PGm ce equip- 5IF80-QSPDFEVSFJTBXBZPGTXJUDIJOHDPNQVUFSTPGGBOEPOSFNPUFMZ*UIBT ment, and mobile phones. CFFOTFUVQ BOEJTPQFSBUJOH PONPTUPGUIFNBOZDPNQVUFSUFSNJOBMTJOUIF (1) High enWJSPONFOUal qualitZ (2) #ÉUJNFOUCBTTFDPOTPNNBUJPO BMPXFOFSHZDPOTVNQUJPOTUBOEBSE SFUBJMCSBODIFT * 44 I OUR PLANET AND SOCIETY

&/7*30/.&/5"--Y AND SOCIALLY DPSrespondent Xork in Uandem to implement RESPONSIBLE PROCUREMENT the project MPDBMMZ, Cy rolling out the national (SPVQF #1$&T QVSDIBTFT DPPSEJOBUFE CZ UIe agreements in combination with local JOJUJBUJWes #1$& "DIBUT FDPOPNJD JOUFSFTU HSPVQJOH SFQSF JOWolving the protected sector TFOUUPUBMQSPDVSFNFOUPGBMNPTUéCJMMJPOBZFBS. 5o support the people JOWPMWed, the Group pro- $PPSEJOBUJOHXJUIUIFSFMFWBOU$PSF#VTJOFTTEF vides a range of tools: the PHARE 1ractical QBSUNFOUT BOE 1SPDVSFNFOU DPSSFTQPOEFOUT Jn Guide, a compilation of JOGormation and tools The growth in the level of purchases UIF HSPVQT EJGGFSFOU DPNQBOJFT JUT UFBNT ESBw on QVSDhasing from the protected TFDUPS, the from the protected sector in 2011. VQ TQFDJmDBUJPOT GPS UIF EJGGFSFOU DBUFHPSJFT Pf PHARE /FXTMFUUFS XIJDh reports progress and QSPEVDUT BOE TFSWJDFT JEFOUJGZ TVQQMJFST BOE TFt GFFECBDk, a dedicated training program, etc. In VQGSBNFXPSLBHSFFNFOUTBDSPTTUIF(SPVQ"Ta October 1, the Group also ran its second TJHOBUPSZUPUIFDIBSUFSPGHPPEQSBDUJDFTCFUXFFn DPOGerence on the UPQJD5IJTFWFOUCSPVHIUUP DMJFOUTBOE4.&T UIF(SPVQNPOJUPSTUIFSFHJPOBl HFUIFS NPSF UIBO QFPQMF JOWPMWFE JO UIe SFTQPOTJCJMJUZPGJUTFOUJUJFTEVBMMFWFMQSPDVSFNFOt 1)"3& QSPKFDU5IFZ IBE UIF PQQPSUVOJUZ Uo NBOBHFNFOU BMMPXT UIF SFHJPOBM CBOLT UP XPSk EJTDVTTJEFBTJOUPQJDCBTFEMFDUVSFTBOEQSBD XJUI MPDBM TVQQMJFST5IF QVSDIBTFST DPOTJEFS UIe UJDBMXPSLTIPQT BOEUPTIBSFFYBNQMFTPGDPM 5"3(&54 JNQBDU PG QSPEVDUT BOE TFSWJDFT PO UIF FOWJSPO MBCPSBUJPOCFUXFFO(SPVQDPNQBOJFTBOEUIe NFOUBTXFMMBTUIFTPDJBMBOEFOWJSPONFOUBMQFS QSPUFDUFETFDUPSDPNQBOJFTBOEPSHBOJ[B GPSNBODFTPGTVQQMJFST. UJPOT FNQMPZJOH EJTBCMFE QFPQMF XFSF JOWJUFd UPUBLFQBSUJOBOJOIPVTFFYIJCJUJPOUPQVCMJ "/".#*5*064130$63&.&/510-*$Y DJ[FUIFJSBDUJWJUJFT"TBSFTVMU JO SFTQPO JOEJSFDUKPCTGPSEJTBCMFEXPSLFST, '035)&1305&$5&%4&$503 TJCMF QSPDVSFNFOU CZ (SPVQF #1$& GSPN UIe DPNQBSFEXJUIJO *O+VMZ UIF(SPVQMBVODIFEJUT%JTBCJMJUJFs QSPUFDUFETFDUPSHSFXCZNPSFUIBO UPa BOE3FTQPOTJCMF1VSDIBTJOH1PMJDZoBMTPLOPXn UPUBMPGNPSFUIBOéNJMMJPO BT 1)"3& iMJHIUIPVTFwPSiCFBDPOw BO BDSP OZNEFSJWFEGSPNUIF'SFODI1PMJUJRVF)BOEJDBp /"5*9*413"$5*$&4i#6:*/(3*()5” FU"DIBUT3FTQPOTBCMFT5IFQPMJDZTNBJOPCKFD 5IF 1SPDVSFNFOU %FQBSUNFOU PG /BUJYJT XIJDh é.*--*0N UJWFJTGPSUIF(SPVQUPEPPGJUTQSPDVSFNFOt JTBNFNCFSPGUIF1)"3&QSPKFDU IBTBMTPJN CVTJOFTTXJUIUIFQSPUFDUFETFDUPSCZ5Ie QMFNFOUFE B iCVZJOH SJHIUw BQQSPBDI XJUI TJx of annual Group purchases from the QSPKFDUJTKPJOUMZDPPSEJOBUFECZ#1$&"DIBUTBOd QSJPSJUJFT SJHIU RVBOUJUZ SJHIU RVBMJUZ SJHIU QSJDF, protected sector (excluding Natixis). (SPVQF#1$&T)VNBO3FTPVSDFT%FQBSUNFOU. JOOPWBUJPO TVTUBJOBCJMJUZBOETPDJBMSFTQPOTJCJMJUZ. BPCE "DIBUT’ remit is to identify and SFBDh *OUIFMJHIUPGUIJTBQQSPBDI /BUJYJTSFTQPOTJCMe agreements with companies in the protected QSPDVSFNFOU DSJUFSJB IBWF CFFO VQEBUFE FYJTU TFDUPS DPNQBOJFT FNQMPZJOH EJTBCMFE XPSLFSs JOHMBCFMTIBWFCFFOSFBTTFTTFEBOETVTUBJOBCMe LOPwn in 'rance as entreprises BEBQUÏFT or EFWFMPQNFOURVFTUJPOOBJSFTBSFTFOUUPTVQQMJFSs EA) and so-called ÏUablissements et TFSvices UPBDDPNQBOZJOWJUBUJPOTUPUFOEFS*OQBSBMMFM UIe EBJEFQBSMFUSBWBJM &4"5 PSHBOJ[BUJPOTFNQMPZJOg TQFDJBMJTU mSN &DPWBEJT JT HJWFO UIF UBTL PG BT disabled persons in adapted strVDUures). TFTTJOHUIF$43QSBDUJDFTPGUIF(SPVQTQSJODJQBl *OFBDITVCTJEJBSZ B%JTBCJMJUZBOEB1SPDVSFment TVQQMJFST

(0-%"8"3D '033&410/4*#-E As a signatory to the cIBSter 130$63&.&/5 of good practices (SPVQF#1$&XBTSFDPHOJ[FE CFUXFFODVTUPNFSTBOETVQQMJFST QSPNPUFECZUIe GPSJUT%JTBCJMJUZBOE3FTQPOTJCMF JOUFSDPNQBOZSFMBUJPOTNFEJBUPS UIF(SPVQVOEFSUBLFs 1SPDVSFNFOU1PMJDZBUUIF UPGVMmMMUIFDPNNJUNFOUTGPSSFTQPOTJCMFQSPDVSFNFOU, 5SPQIJFTPSHBOJTFECZUIF CBTFEPOBSFMBUJPOTIJQPGNVUVBMUSVTU NBHB[JOF%ÏDJTJPO"DIBUT *45 I

"CTING ON DIVERSITY 410/403*/(*//&3$*5:5"-&/5 "s a TJHOBUPSy to the business EJWFSTJUy DIBSUFS, "s a partner of the Nos quartiers ont des Ualents the (SPVQVOEFSUBLFTUPFNQMPZBOESFUBJOQFP association iOur neighborhoods IBWe Ualents”) QMFwith disabilities, to NBJOUain FRVBMJUy of op- since 0, BPCE encourages its managers and QPSUVOJUy and divFSTJUZ FYFDVUJWes to sponsor Zoung graduates from Xorking-class areas in ﬁ nding jobs. 1"35/&3*/5)&UI8&&K In the same spirit, #anque 1alatine HJWes TDhol- '03&.1-0:.&/50'1&01-E arships to TUudents from the Sciences 1o TDhool 8*5)%*4"#*-*5*&4 of political science educated through QSJPSJUy 5he JOJUJBUJWe on behalf of FNQMPyment Gor peo- education agreements. 4FWeral bank FYFDVUJWes ple with disabilities is based on UXo banking sit on the admission panels and participate in sector BHSFFNFOUT TJHOFECZUIF#BORVF1PQV the tutoring syTUFN MBJSFCBOLTBOEUIF$BJTTFTE&QBSHOF XIJDIUBS HFUFNQMPZNFOUSBUFTGPSQFPQMFXJUIEJTBCJMJUJFs PG SFTQFDUJWFMZ BOE JO BOE PO a HSPVQ BHSFFNFOU BU /BUJYJT " %JTBCJMJUZ DPSSF TQPOEFOUJTQSFTFOUJOFBDIPGUIFTJHOBUPSZDPN QBOJFTBOENBOBHFSTBSFLFQUBXBSFPGUIFJTTVF. 4FWeral companies are Xorking to GBDJMJUate ac- AND QUALITY OF LIFE IN THE WORKPLACE? cess to FNQMPyment Gor TUudents with disabilities and the retraining of people disabled GPMMPX ing an accident. 5IJTJTBQSJPSJUZJOBHSPVQVOEFS UIFTLJMMTUPQSPWJEFUIFJSUFBNT DPOTUSVDUJPO XIFSFDIBOHFTIBWF XJUIPQUJNVNTVQQPSU #3&",*/(5)&(-"44$&*-*/( BOJNQBDUPOUIFRVBMJUZPGMJGF 3JTLQSFWFOUJPOJTOFDFTTBSZ 8omen represent 54.4% of the (SPVQs FNQMPZ JOUIFXPSLQMBDF"MMUIF(SPVQT CVUEFWFMPQJOHXFMMCFJOHJOUIF ees, but only 36.8% of managers and 4.5% of DPNQBOJFTXJUINPSFUIBO XPSLQMBDFJTBQSJPSJUZ senior FYFDVUJWes. "ccelerating Gemale BDDFTT TUBGGIBWFVOEFSUBLFOB 5IJTJTBXBZPGVOJUJOHTUBGG to positions of SFTQPOTJCJMJUy is one of the QSJPSJUJFT QTZDIPTPDJBMSJTLBTTFTTNFOU BSPVOEQPTJUJWFHPBMTUIBUBGGFDU of the (SPVQs %JWFSTJUy QPMJDZ, with BNCJUJPVT IBWFDPNQMFUFEJUUXPUIJSET UIFNEJSFDUMZ TJODFGFFMJOHHPPE Uargets Gor 3: 20% of Xomen in the top circle BSFJNQMFNFOUJOHBDUJPOQMBOT JO BCPVUUIFJSXPSLFODPVSBHFT of senior FYFDVUJWes and 40% Gemale NBOBHFST QBSUJDVMBSUSBJOJOHUPHJWFNBOBHFST QFPQMFUPHJWFPGUIFJSCFTU * 46 I OUR PLANET AND SOCIETY

$0.#*/*/(40-*%"3*5: "/%3&410/4*#*-*5:

SOCIAL SOLIDARITY IS THE BEDROCK AND FOUNDING PRINCIPLE OF THE COOPERATIVE BANKS. IT IS AT THE CORE OF ALL THE BUSINESS ACTIVITIES PURSUED BY GROUPE BPCE AND IS EXPRESSED, AT A LOCAL AND REGIONAL LEVEL, IN NUMEROUS INITIATIVES SUPPORTED BY THE GROUP’S NETWORKS, FEDERATIONS AND FOUNDA5*0/4

SOCIAL EXCLUSION, OLD "GE, O 4VQQPSUJOH GBNJMZ DBSFST BOE WVMOFSBCMF %&1&/%&/$:, AND DISABILITY JOEJWJEVBMTJTUIFQVSQPTFPGUIFJOGPSNBUJPO BEWJDF BOE DIBU TJUF NBJOUBJOFE CZ /BUJYJT "TTVSBODFT. O *O UIF $BJTTFT E&QBSHOF TVQQPSUFE XXXBJEBVUPOPNJFGS TPDJBMTPMJEBSJUZBDUJPOQSPKFDUTSFQSFTFOU JOHBUPUBMPGéNJMMJPO*OUFHSBUJPOUISPVHIXPSL, O )FMQJOHZPVOHQFPQMFXJUIQIZTJDBMEJTBCJMJ CBTJD FEVDBUJPOBM TLJMMT JOEFQFOEFODF JO EJTBCJMJUZ FUD, UJFTto BDIJFWe their MJGe plans is one of the priorities BSFUIFNBJOBSFBTPGGVOEJOH of the #anque 1opulaire 'oundation. It QSPvides TDhol- arships Gor TVDh Zoung people to PCUain Wocational training or to TUudy Gor a degree, to set up a business, to pursue high MFWel sports training or to EFWelop BOBSUJTUJDBDUJWJUZ*O UIFGPVOEBUJPOCBDLFEOFw projects and NBJOUained support Gor 36 winners from QSFvious yFBST

O 'PS UIF MBTU OJOF ZFBST UIF 0SQIFVT GFTUJWBM PG UIFBUSF dance and music has enabled disabled artists Xorking in QSPGessional groups to QFSGorm their O 5PTVQQPSUQFPQMFNBEFWVMOFSBCMFCFDBVTF Xork. 5he Crédit Coopé- PG PME BHF JOmSNJUZ BOE EJTBCJMJUZ UIF $BJTTFT ratif 'oundation has d’Epargne 'oundation Gor Social 4PMJEBSJUy Suns a been the main sponsor OFUXork of 09 residential homes and units across of this GFTUJWal since its the countrZ. DSFBUJPO "s the largest TUate-approWed Goundation in terms of its number of FNQMPZees, it Suns 'SBODFs leading OFUXork of QSJWate not-fPS-proﬁt homes Gor dependent elderly O &WFSZEBZ -B.JFEF1BJOBTTJTUTQFPQMF people. 5his OFUXork supports 0 elderly and disa- XJUI TFSJPVT TPDJBM EJGmDVMUJFT QSPWJEFT a bled people in its 09 homes and units; 0 patients QMBDFUPTMFFQGPSNPSFUIBOQFPQMFFWFSZOJHIU, a Zear are treated in its Gour health centers; 0 el- BOE PGGFST JOGPSNBUJPO BOE DPVOTFMJOH TFSWJDFs derly people SFDFJWe homecare TFSvices through its m ve GPS SFJOUFHSBUJPO "T B QBSUOFS PG UIF BTTPDJBUJPO, iUFMFBTTJTUBODF” support platfPSNT Natixis "sset Management HJWes m nancial support 8ith its 0 TUBGG, helping and supporting vulnerable BOE NFNCFST PG TUBGG WPMVOUFFS UIFJS TLJMMT BOd people is the core activity pursued by the foundation. DPNNJUNFOU. *47 I

O 5IF 3ÐWFT EF (PTTF EFT $IFWBMJFST EV $JFM TBvings banks, QPTUal banks and micro m nance JOTUJUu- i%SFBNTPG,JETi i,OJHIUTPG)FBWFOi BJSUPVS tions in Africa. It has successfully DBSried out more than CBTFEBSPVOENFFUJOHTCFUXFFODIJMESFOCPUIPSEJOBSy 0 missions oWer the past four yFBST BOE FYUSBPSEJOBSZ EJTBCMFE PS EJTBEWBOUBHFE DIJMESFO , *O UIF 0WFSTFBT 7PMVOUBSZ 4FSWJDF 1SJ[FT Pf HJWFTZPVOHTUFSTBDIBODFUPFYQFSJFODFBNBJEFOnJHIU. the 'édération Nationale des Caisses d’Epargne Xere &JHIU$BJTTFTE&QBSHOFTVQQPSUFEUIFMPDBMPSHBOJ[FSs BXarded to four volunteers for their work in this area. PGUIJTFWFOUJOUIFEJGGFSFOUDJUZWFOVFTJO O 4JODF Natixis has been JOWPMWed in the $*5*;&/4)*1 m ght against malaria, a disease that still kills almost a million people a ZFBS. It supports QSFWention programs O 4VQQPSUJOHDJWJDNJOEFEFOUSFQSFOFVSTwho in areas where the disease is endemic as Xell as QSPvide their TFSvices free of Dharge to JNQSPWe the so- GVOEJOHSFTFBSDIBUUIF*OTUJUVU1BTUFVS"GUFS$BNFSPPn cial, DVMUural or OBUural FOvironment, is one of the three and Burkina 'aso, Natixis funds a program Sun Cy the priorities of the #anque 1opulaire 'oundation. 4FWen NGO Plan France in 5PHP WPMVOUBSy organizations SFDFJWed support in . 5IFy Xork in areas TVDh as social and QSPGessional integration, corporate QIJMBOUISPQZ, SFGPSFTUation or the BXard of study scholarships to deserving stVEFOUT

O 5IF$".164"XBSETBU/BUJYJTHPUPTPMJEBS JUZCBTFEJOJUJBUJWFTCZTUVEFOUTfrom elite 'SFODh TDhools of engineering and VOJWersities, XIJDh SFnect the Walues CBDLed Cy Natixis: social TPMJEBSJUZ, team spirit, equality of opportVOJUZ, and altrVJTN

*/5&3/"TIONAL SOLID"3*5:

O &DVSFVJM $PPQÏSBUJPO *OUFSOBUJPOBMF &$* ESBws on the Fxperience of the Caisse E&QBSHOFs DVS rent and Gormer TUBGf to support the EFWelopment of * 48 I OUR PLANET AND SOCIETY

$6-563&"/%)&3*5"(&: 4)"3*/(&.05*0/

ONE FRENCH PERSON IN TWO IS A CUSTOMER OF A GROUPE BPCE COMP"/: THE SUPPORT THAT THESE COMPANIES GIVE TO CULTURE AND HERITAGE IS AS DIVERSE AS THE PROFILE OF THEIR CUSTOMERS, THEIR STAFF AND SOCIETY AS A WHOLE. IT IS A SOURCE OF OPENNESS, ENRICHMENT AND CREA5*7*5:

FINE "354

$&/53&10.1*%06*/.&5; .64²&%034": *OQBSUOFSTIJQXJUIUIF$FOUSF1PNQJEPV.FU[, 5he musée E0STBZ, in 1aris, has reopened the Impressionists (BMMFSy BGter a complete UIF$BJTTFE&QBSHOF-PSSBJOF$IBNQBHOF"SEFOOe NBLFPWer Cy the BSDhitect +ean-Michel 8JMNPUte. 5he sole sponsor of this USBOTGorma- JTTVQQPSUJOHUIFi"EPMFTDFOUTwXPSLTIPQTEFTJHOFd tion, Natixis had already supported the museum in 0 Gor the Fxhibition Claude GPSQFPQMFOPUVTFEUPWJTJUJOHNVTFVNT Monet 840-1 Since 04, Natixis has been pursuing JOJUJBUJWes to protect our great artistic legacy and make it as widely accessible as possible.

LIVE PERFORMANCE AND CINEMA "7*(/0/'&45*7"- $"//&S 5IFNBJOTQPOTPSPGUIF"WJHOPO'FTUJWBMJTUIF$SÏEJU$PPQÏSBUJf '&45*7"- 'PVOEBUJPO"TCBOLFSUPBMNPTU DVMUVSBMBTTPDJBUJPOs #BORVF1BMBUJOe BOEPSHBOJ[BUJPOTXPSLJOHJOUIFQFSGPSNJOHBSUT UIFQMBTUJDBSUT, TVQQPSUTUIF%JSFDUPST’ NVTFVNT QVCMJTIJOHBOEUIFDJOFNB $SÏEJU$PPQÏSBUJGBOd 'PSUOJHIUEVSJOg UIF$SÏEJU$PPQÏSBUJG'PVOEBUJPOXFSFBXBSEFEUIFEJTUJODUJPn UIF$BOOFT'JMm PGi(SBOE4QPOTPSPG$VMUVSFwJO 'FTUJWBM.

-*5&3"563& 5)&(3&"5&45."45&31*&$&40''3&/$H 5)&1"-"5*/&13*;&'03)*4503*$"-/07&-4 -*5&3"563&0/*1"% Sponsored by Banque Palatine and Musée CarnaWalet for the J1IPOFBOEUIFXFCUIJTJTXIBU#BORVF1PQVMBJSFJTPGGFSJOHGSFFPf UI consecutive yFBS, the 201 Palatine PSJ[e for Historical DIBSHFJOTVQQPSUJOHUIFJ#JCMJPUIÒRVFJOQBSUOFSTIJQXJUIUIF'JHBSo /PWels was aXarded to Françoise Chandernagor for MJUUÏSBJSFBOEUIF²EJUJPOT(BSOJFSQVCMJTIJOHIPVTFXXXJCJCMJPUIFRVFGS -FT&OGants d’"MFYBOESJF published by Éditions Albin Michel. *49 I

.64*$ &7&3:,*/%0'.64*$'03&7&3:,*/D 0'1&340/"$30445)&$06/53: $BJTTFE&QBSHOFTOFXNVTJDTQPOTPSTIJQQSPHSBNCSJOHTMJGe UPFWFSZLJOEPGNVTJDJOFWFSZSFHJPOPG'SBODFXJUIKPJOUDPODFSt QSPEVDUJPOT QBSUOFSTIJQTXJUITPNFIBMMT BOEUIFOVSUVSJOg PGZPVOHUBMFOU5IF&TQSJU.VTJRVFQMBUGPSNQSPWJEFTBTQBDe GPSQFPQMFUPMFBSO EJTDVTT LFFQVQXJUIUIFNVTJDOFXT, CVZUJDLFUTPOMJOFBOE GPS$BJTTFE&QBSHOFCBOLDBSEIPMEFST, UPFOKPZOVNFSPVTQSJWJMFHFT5IFNPCJMFBQQ4PVOE1MBDFT, OPNJOBUFEUIFCFTUNPCJMFDPNNVOJUZJOUIF*OUFSOFt .PCJMF5SPQIZ mOETBSUJTUTXIPBSFQFSGPSNJOHMPDBMMZ. XXXFTQSJUNVTJRVFGS /"5*9*4461103545)&1"3*S 03$)&453"*/"4*A 4611035*/("/%130.05*/G 5IFCBOLTVQQPSUFEUXPTZNQIPOJDDPODFSUTJO5PLZPBOE 50.0330847*35604* #FJKJOHJO%VSJOHUIFUPVS UIF0SDIFTUSBXBTOPNJOBUFE CFTUPSDIFTUSBCZUIF+BQBOFTFNBHB[JOF0OHBLV/P5PNP 'PSUXFOUZZFBST UIF#BORVF1PQVMBJSF'PVOEBUJPOIBTCFFn IFMQJOHZPVOHWJSUVPTPNVTJDJBOTBOEDMBTTJDBMNVTJDDPNQPTFSs UPMBVODIUIFJSDBSFFSTNPSFUIBOZPVOHUBMFOUTIBWFBMSFBEy /"5*9*4(-0#"-"44&5."/"(&.&/T CFOFmUFEGSPNJUTTVQQPSU-FT.VTJDBMFTEF#BHBUFMMF NVTJRVe 0154'0348*/( QPVSUPVT BGFTUJWBMTUBHFEJO1BSJTJO.BZ BOEQBSUOFSTIJQTXJUIXFMM In 201, the entity was the i1resenting Sponsor” of the Newport LOPXOGFTUJWBMTJOTFWFSBMSFHJPOTIFMQUIFNCVJMEUIFJSSFQVUBUJPOT +azz FFTUJWal, the Berklee College of Music’s Summer in the City concerts and the BFBOUPwn Jazz FFTUJWBM #"/26&1"-"5*/&*/1"35/&34)*P 8*5)53²5&"69-:3*26&4 .64*$*/13*40/ 5IFSPMFPGUIJTOPUGPSQSPmUBTTPDJBUJPOJT mSTUMZ UPHJWFBNBUFVr 'PVSDPODFSUTXFSFHJWFOJOQSJTPOJOXJUh NVTJDJBOTBDIBODFUPQFSGPSNBOE TFDPOEMZ UPVTFUIFDPODFSt NVTJDJBOTBXBSEFEQSJ[FTGSPNUIF#BORVe UBLJOHTUPTVQQPSUDIBSJUBCMFPSHBOJ[BUJPOT "TTPDJBUJPO-BVSFUUF'VHBJO, 1PQVMBJSF'PVOEBUJPOBTQBSUPGBUISFFZFBr &VSPQFBO*OTUJUVUFGPS$PPQFSBUJPOBOE%FWFMPQNFOU "TTPDJBUJPn QBSUOFSTIJQXJUIUIF4FDPVSTDBUIPMJRVFDIBSJty EFTDFOUSFTÏEVDBUJGT$IBSMFT1ÏHVZ "TTPDJBUJPO1BTTFSBJMF PSHBOJ[BUJPOBOEUIFQSJTPOBENJOJTUSBUJPO

MARITIME HERIT"(& 410/4030'5)&²3*$5"#"3-Y 5)&#&-&.'06/%"5*0N "440$*"5*0/ 5ISPVHIUIF#FMFN'PVOEBUJPO UIF$BJTTFE&QBSHOFIBTCFFn Banque Populaire is helping to restore, maintain TQPOTPSJOHUIF#FMFNTBJMJOHWFTTFMGPSNPSFUIBOUIJSUZZFBST5IJs and sail the ﬁve 1FO%VJDL vessels, the legendary UISFFNBTUFETIJQ UIFMBTUXPSLJOHFYBNQMFPG'SBODFTUIDFOUVSy racing yachts belonging to the most famous MPOHIBVMNFSDIBOUnFFU IBTCFFOFOUJSFMZSFTUPSFE*UIBTCFFOPQFn French sailor in history. It supports the Éric Tabarly UPUIFQVCMJDTJODFBOEBUUSBDUTNPSFUIBO WJTJUPSTBZFBr Association in its educational role, by helping JOIBSCPSBOENPSFUIBO BUTFB'PSUIJTVOGBJMJOHDPNNJUNFOU JOUIF$BJTTe as many people as possible to discover the craft E&QBSHOFXBTBXBSEFEUIFi4QPOTPSPG$VMUVSF.FEBMw BmSTUGPSBCBOLJOHJOTUJUVUJPO and their history at major events.

$OMIC BOOKS -&"%*/(410/4030'$0.*$#00,4'03:&"34 5IF$BJTTFE&QBSHOFTVQQPSUTZPVOHDSFBUJWFUBMFOUBUUIF"OHPVMÐNF*OUFSOBUJPOBM$PNJD#PPk 'FTUJWBMXJUIUIFTDIPPMTDPNJDCPPLDPNQFUJUJPO BOEUISPVHIOVNFSPVTFWFOUTBMMPWFS'SBODF. #FUXFFOFWFOUT &TQSJU#%HJWFTGBOTBXBZUPDPNNVOJDBUFBOEFOKPZUIFCFTUJOZPVOHEJHJUBl EFTJHOUISPVHIUIFGSFFJ1IPOFBOEJ1BEBQQ&TQSJU#% BMMUIFPOMJOFXPSLTDBOCFEPXOMPBEFd GSPNUIFTJUFXXXFTQSJUCEGS * 50 I OUR PLANET AND SOCIETY

&9$*5&.&/T "/% FULFILLMENT 5)306()41035

FROM NOVICES TO COMPETITORS, FROM F".*-Y FUN TO THE TOUGHEST OF CHALLENGES, ALL GROUPE BPCE’S $0.1ANIES ARE INVOLVED IN FOSTERING THE LOVE OF SPORT, WHETHER IN EVERYDAY PRACTICE OR AT MAJOR EVENTS.

(3061$& 0''*$*"-1"35/&3 505)&'3&/$)0-:.1*$5&". (SPVQF#1$&JTUIFFYDMVTJWFQBSUOFr PGUIF'SFODI/BUJPOBM0MZNQJDBOE4QPSUs $PNNJUUFF $/04' BOEPGUIF'SFODh 0MZNQJD5FBNGSPNUP. 5IF(SPVQBOEJUTNBJOCSBOET #BORVe 1PQVMBJSF $BJTTFE&QBSHOFBOE/BUJYJT, XJMMTVQQPSUUIF'SFODI0MZNQJD5FBm GPSUIFTVNNFS0MZNQJD(BNFTJO-POEPO. #BORVF1PQVMBJSF UIFMFBEJOHQBSUOFSBOEIJTUPSJDTQPOTPr PGTBJMJOH JTOPUBCMZTVQQPSUJOHUIF'SFODI0MZNQJD4BJMJOg 5FBN XPSMEDIBNQJPOTJO8FZNPVUIJO5IFUBSHFU: TJYNFEBMTBUUIF0MZNQJD(BNFT 8JUI&TQSJU+0 $BJTTFE&QBSHOFIBTMBVODIFEBNBKPr QSPHSBNUPTVQQPSU'SFODIBUIMFUFTESBXOGSPNUIe 36(#:"/%/"5*9*4 SFHJPOTPGUIF$BJTTFTE&QBSHOFGPSBTJYNPOUIQFSJPE. Since 20, Natixis has sponsored Racing Metro 92, ﬁ ve times FSFODh 5IFUBSHFUUPIFMQUIFNXJOBUJDLFUUP-POEPO Dhampions and semiﬁ nalists in the Orange 5OP 14 in 20

$"*44&%&1"3(/E 463'*/(0/&413*5 (-*44& "QBSUOFSPGUIF'SFODI4LJJOH 'FEFSBUJPOTJODF JUJs JOWPMWFEJOBMMBHFDBUFHPSJFs BOEBMMEJTDJQMJOFT JOQBSUJDVMBr EVSJOHUIF'SFODI$IBNQJPOTIJQT $SFBUFEJO 5FBN$BJTTe E&QBSHOFJTNBEFVQPGmWe BUIMFUFT"MFYJT1JOUVSBVMUBOd "OÏNPOF.BSNPUUBO EPXOIJMl TLJJOH "MFYJT#VG USJBUIMPO , $PMJOF.BUUFM TLJKVNQJOH) BOE/FMMZ.PFOOF-PDDPz TOPXCPBSE . XXXFTQSJUHMJTTFDPN *51 I

5)&."9*#"/26& 1016-"*3&7(3"#S 5)&+6-&47&3/&5301): 5his winter, the wPSMEs biggest racing trimaran made the non-stop, DSFXed round-the-world trip, without BTTJTUance, in 45 daZs, 13 hours and 42 minutes. 5he 14 sailors in the #anque Populaire team thus won the holy grail of ocean sailing: the +ules 7erne 5SPQIZ. 5his record, which joins the eight others already held by the Maxi BBORVF1opulaire 7 gives the “Sailing Bank” a place in historZ.

&413*536//*/( 5IF$BJTTFE&QBSHOFTVQQPSUTNPSFUIBn FWFOUTBSPVOE'SBODF JODMVEJOHUIF1BSJs .BSBUIPOBOEUIF.ÏEPD.BSBUIPO. XXXFTQSJUSVOOJOHDPN

5)&#"/26&1016-"*3&#"/,4 ."+031"35/&3S 0'5)&'3&/$)4"*-*/('&%&3"5*0/ 5he Banque Populaire banks haWe been working alongside sailing clubs and schools in their region since 200. "s a local presence supporting more than 1,500 strVDUures, UIFy contribute to the deWelopment of the whole sailing sector, from initiation to international competition. XXXWPJMFCBORVFQPQVMBJSFGS

-&4#-&6&4 #"/26&%&/067&--E 803-%)"/%#"-L $"-²%0/*& 0''*$*"-1"35/&R 4*-7&3.&%"-*454 0'5)&UI1"$*'*$(".&4 An acIJFWement closely fPMMPXed by Held from "ugust 27 to September 10, $"SDEN Banque Populaire, ofm cial 1 in New Caledonia, the Games partner of the FSFODh wPNFOs handball brought together 22 Oceanian islands, team. 5he i'emmes de Déﬁ s” won with 27 sports disciplines represented. the silver medal after a ﬁ ne run at the Brazilian world championships. * 52 I SPECIAL CINEMA

THE CINEMA50(3"1)IC SUCCESSES 0'/"5*9*4$0'*$*/² "/%#"/26&1"-"5*/& *O UIFOVNCFSPGDJOFNBHPFSTJO'SBODFSFBDIFEUIFJSIJHI FTUMFWFMJOZFBSTXJUINJMMJPOUJDLFUTTPME BOE'SFODh mMNT FOKPZFE BO FYDFQUJPOBM SVO PG TVDDFTTFT 4FWFSBM PG UIFm FOKPZFE CFIJOEUIFTDFOFT TVQQPSU GSPN /BUJYJT $PmDJOÏ BOd #BORVF1BMBUJOF/BUJYJT$PmDJOÏ UIFMFBEJOHmOBODJFSPGUIF&VSP QFBOmMNJOEVTUSZXJUIBQPSUGPMJPPGNPSFUIBONJMMJPOFVSPs JOOFXMPBOTJO QSPWJEFTGVOEJOHFWFSZZFBSUPNPSFUIBOPOe IVOESFE'SFODIBOE&VSPQFBOmMNTBOEUPBMBSHFOVNCFSPG5V QSPEVDUJPOT *U BMTP NBOBHFT TFWFSBM PG (SPVQF #1$&T4PmDB FOUJUJFTWJBJUTTVCTJEJBSZ .$*#BORVF1BMBUJOFPQFSBUFTPOBEJGGFS FOU ZFUDPNQMFNFOUBSZ MFWFM8JUIUIFBDRVJTJUJPOPGDBUBMPHVFT, UIFPSHBOJ[BUJPOPGCSJEHFmOBODJOH DBTInPXNBOBHFNFOU IFEH JOHJOTUSVNFOUT BDRVJTJUJPOT UIFCBOLCPBTUTBTQFDJBMJ[FEUFBNUo TVQQPSU UIF FWFSZEBZ BDUJWJUJFT EFWFMPQNFOU BOE JOWFTUNFOUT Pf DPNQBOJFTXPSLJOHJOUIFmMNBOEBVEJPWJTVBMJOEVTUSJFT BMPOHXJUh UIFJSTFOJPSNBOBHFST*UBMTPNBOBHFTTFWFSBM4PmDB FOUJUJFT

(1) Source: Centre national du cinéma et de l’image animée. (2) Sociétés pour le ﬁ nancement de l’industrie cinématographique et audioWJTVFMMF entities specializing in providing funding for companies the ﬁ lm and audiovisual industries.

FILMS PROVIDED FUNDING IN 2011 INCLUDE…

FRANCE 2011 BOX OFFICE 6/506$)"#-&4 5)&"35*45 .*%/*()5*/1"3*4 #Z&SJD5PMFEBOPBOE0MJWJFS/BLBDIF #Z.JDIFM)B[BOBWJDJVT #Z8PPEZ"MMFO NJMMJPOUJDLFUTTPME NJMMJPOUJDLFUTTPME 0TDBST $ÏTBS NJMMJPOUJDLFUTTPME BXBSETJODMVEJOH#FTU"DUPS BXBSET #BGUBT (PZB (PMEFO OPNJOBUJPOTGPSUIF0TDBST BOEOPNJOBUJPOTGPSUIF (MPCFT 4QJSJU"XBSET Q'VOEFECZ/BUJYJT$PmDJOÏ $ÏTBS"XBSET Q'VOEFECZ#BORVF1BMBUJOF Q'VOEFECZ/BUJYJT$PmDJOÏ 10-*44& 8"3*4%&$-"3&% #Z.BÕXFOO 5)&,*/(441&&$) #Z7BMÏSJF%PO[FMMJ NJMMJPOUJDLFUTTPME #Z5PN)PPQFS UJDLFUTTPME QSJ[FTBOEOPNJOBUJPOT NJMMJPOUJDLFUTTPME QSJ[FTBOEOPNJOBUJPOT BUUIF$ÏTBS"XBSET 0TDBSTJOBOEOPNJOBUJPO GPSUIF$ÏTBS"XBSET Q'VOEFECZ/BUJYJT$PmDJOÏ GPSUIF$ÏTBS"XBSET Q'VOEFECZ#BORVF1BMBUJOF Q'VOEFECZ/BUJYJT$PmDJOÏ BOE/BUJYJT$PmDJOÏ )0--:800 #Z'SÏEÏSJD#FSUIFBOE1BTDBM4FSJFJT 9*** 5)&%"-50/4 NJMMJPOUJDLFUTTPME 574FSJFTo$BOBM "OJNBUFE57TFSJFT'SBODF Q'VOEFECZ/BUJYJT$PmDJOÏ Q'VOEFECZ/BUJYJT$PmDJOÏ Q'VOEFECZ/BUJYJT$PmDJOÏ 1"/03"." 0'5)& (30614 "$5*7*5*&4 */ $0..&3$*"-#"/,*/("/%*/463"/$& 5he Banque Populaire banks 5he Caisses d’Epargne Crédit Foncier #anque Palatine BPCE International et Outre-mer Insurance /"5*9*45)&$03103"5&"/%*/7&45.&/5#"/,*/( "44&5."/"(&.&/5"/%'*/"/$*"-4&37*$&4"3. Corporate and InWestment BBOLJOH *OWestment Solutions 4QFDJBMJ[ed Financial Services &26*5:*/5&3&454 /FYJUy – Maisons France Confort – CofBDF * 54 I COMMERCIAL BANKING AND INSURANCE

THE BANQUE POPULAIRE B"/,4

5)&#"/26&1016-"*3&#"/,4"3&$001&3"5*7&#"/,4$3&"5&%#:"/%'03&/53&13&/&634 803,*/($-04&-Y 8*5)-0$"-#64*/&44&4"/%#64*/&4408/&345)&:'03.5)&'0635)-"3(&45#"/,*/(/&5803,*/'3"/$E 8*5)3&(*0/"-#"/26&1016-"*3&#"/,4 $"4%&/#"/26&1016-"*3& 8)*$)4&37&4&.1-0:&&40'5)E '3&/$).*/*453*&40'&%6$"5*0/ $6-563&"/%3&4&"3$)"/%$3²%*5$001²3"5*' "."+031-":&3*/5)&40$*"L "/%40-*%"3*5:#"4&%&$0/0.:

.*--*0/$001&3"5*7&4)"3&)0-%&34 O The Banque Populaire du Sud-Ouest and the 5IF #BORVF 1PQVMBJSF CBOLT BSF PXOFE Cy Banque Populaire Centre Atlantique merged to UIFJS DPPQFSBUJWF TIBSFIPMEFST XIP BSF BMTP UIFJr create the Banque Populaire Aquitaine Centre At- DVTUPNFST/BUJYJTPXOTUIFSFNBJOJOHJOUIe lantique. This new major regional bank covers GPSN PG DPPQFSBUJWF JOWFTUNFOU DFSUJmDBUFT $*$T . 11 French EÏQBSUFNFOUT 5IF 'ÏEÏSBUJPO /BUJPOBMF EFT #BORVFT 1PQVMBJSFs $"SDEN '/#1 JTUIFJOTUJUVUJPOQSPWJEJOHEFMJCFSBUJPO DPN INDIVIDUAL CUSTOMERS #BORue Populaire: the cooperative NVOJDBUJPOBOESFQSFTFOUBUJPOGPSUIF#BORVF1PQVo 5IF #BORVF 1PQVMBJSF CBOLT IBWF NBEF TVDDFTT bank of the MBJSF CBOLT *UT BDUJWJUJFT GPDVT PO EFWFMPQJOH UIe GVMFGGPSUTUPJODSFBTFUIFOVNCFSPGQSPEVDUTBOd DPNNPO JOUFSFTUT PG UIF #BORVF 1PQVMBJSF CBOLs TFSWJDFTTVCTDSJCFECZUIFJSBDUJWFDVTUPNFSTBOEUo 'SFODh teaching BOEUIFJSDPPQFSBUJWFTIBSFIPMEFST BDRVJSFOFXJOEJWJEVBMDVTUPNFST QSPGFTTJPO

CASDEN Banque Populaire 1 HIGHLIGHTS 1"YMENT C"3%4 boasts more than 1.2 million O Banque Populaire won m rst prize in the Podium #BORVF1PQVMBJSFXBTUIFmSTU'SFODICBOLUPMBVODh cooperative shareholders working for the French de la relation client client-service award for UIF 7JTB 1MBUJOVN DBSE BJNFE BU DVTUPNFST XIo ministries of Education, Culture the banking sector. XBOUUPFOKPZBIPTUPGFYDMVTJWFCFOFmUTIJHIMJNJUs and Research. It works through O Services accessible on mobile terminals were GPSQBZNFOUTBOEDBTIXJUIESBXBMT DPODJFSHFTFS 111 departmental delegations enhanced and now each Banque Populaire bank WJDFT BOE NPSF -JLF PUIFS 7JTB DBSET UIF 'BDFMJB run by members of the teaching has a remote branch. These e-BanquePopulaire WFSTJPO JT BWBJMBCMF PGGFSJOH UIF DIPJDF CFUXFFO a profession and through the online branches offer the same services as a tra- Banque Populaire branches with EFCJUPSDSFEJUQBZNFOUGPSFBDIUSBOTBDUJPO dedicated customer account ditional branch, with a dedicated adviser who can 5he NRJ #anque 1PQQByment card, MBVODhed one managers. The "TTPDJBUJPOT be reached by telephone, e-mail, videoconference Zear ago, has Xon PWer nearly 0 Zoung card- QPVSMFDSÏEJUFUMÏQBSHOFEFT or online chat. 17 e-BanquePopulaire branches holders. 5he card HJWes them PQQPSUunities to win GPODUJPOOBJSFT (Acef) have also were operational at year-end 2011. concert UJDLets and to FOKPy discounts with partner chosen the Banque Populaire O Banque Populaire launched its new communica- DPNQBOJFT banks to provide civil servants with savings and loan solutions tions campaign, capitalizing on its traditional values under preferential terms. as a local bank supporting entrepreneurship and the -0ANS AND CREDIT spirit of initiative. The new image is conveyed by 'PS QFSTPOBM MPBOT UIF #BORVF 1PQVMBJSF CBOLs a new strapline: La banque qui donne envie d’agir OPX ESBX PO UIF FYQFSUJTF BOE UPPMT NBEF BWBJM “The bank that encourages action” and a modern- BCMF CZ /BUJYJT 'JOBODFNFOU B (SPVQ TVCTJEJBSZ. ized logo. $POTFRVFOUMZ CBOL BEWJTFST DBO NPTU BEFRVBUFMy *55 I

ILE-DE- NJMMJPOFRANCE DPPQFSBUJWe /03% TIBSFIPMEFST

3*7&4 #3&% %& 1"3*4 -033"*/& CBOLCSBODIFT 06&45 #3&% $)".1"(/& "-4"$&

"5-"/5*26& 7"- DE F3"/$& #063(0(/& '3"/$)&$0.5² éCJMMJPO #BORVF1PQVMBJSFCBOLT JODVTUPNFSTBWJOHT "26*5"*/& -0*3& $&/TRE ET -:0//"*4 "5-"/5*26& ."44*' C&/53"- "-1&4

0$$*5"/& 1307&/±"-& ET CORSE CÔTE CJMMJPO %h";63 é NJMMJPO 46% JODVTUPNFSMPBn DVTUPNFST PVUTUBOEJOHT

(1) BRED Banque Populaire also operates in the fPMMPwing FSFODh oWerseas territories and départements 'SFODh Polynesia, New Caledonia, Guadeloupe, Martinique, FSFODh Guiana, La Réunion et MaZPUUF

SFTQPOEUPDVTUPNFSTQMBOTCBTFEPOUIFJSCVEHFUT 1BSFOUTQSVEFOUTGPSZPVOHGBNJMJFTXJUIDIJMESFO BOd 5IFFYDMVTJWFQBSUOFSTIJQXJUI-.%& UIFNBJONVUV 3FOUSÏFTFSFJOFGPSBDUJWFTFOJPSTBOESFUJSFFT QSPNQU $SÏEJU$PPQÏSBUJG: BMJOTVSBODFHSPVQGPSTUVEFOUT XBTSFOFXFE#BORVe FEJOQBSUJDVMBSUPBOUJDJQBUFmOBODJBMEFQFOEFODF UIFCBOLEFEJDBUFd 1PQVMBJSF QSPNPUFT UIF mOBODJBM JOEFQFOEFODF Pf A OFw car insurance product Xas MBVODhed: "TTVS-BP UPUIFSFTQPOTJCMe -.%& TVCTDSJCFST UISPVHI MPBOT OPU SFRVJSJOH DP "VUPPGGers fully nFxible, complete DPWerage TUarting BOETPDJBMMy TJHOFSTUPmOBODFUIFJSTUVEJFTPSUPSFOUBOBQBSUNFOU with the basic Gormula and NBy be QVSDhased POMJOF DPNNJUUFd In residential loans, #anque 1opulaire Xas the m rst An ambitious HSPwth plan Xas implemented in order FDPOPNZ to PGGer the PTZ+ solution, an interest-free loan open to NBLe CBODBTTVSBODFa EBZ-to-day business line of With Crédit Coopératif, to all m rst-time IPNFCVZers and adjusted to the the Banque Populaire banks. associations and bodies ener gy efm ciency of the home. pursuing general public-interest initiatives, mutual insurance 5IBOLT UP BOPUIFS TUSPOH MPBOQSPEVDUJPO ZFBS, 4"7*/(4 companies, foundations, MPBO PVUTUBOEJOHT UP JOEJWJEVBMT HSFX CZ . Emphasis Xas placed on on-balance sheet TBvings, cooperatives, social enterprises, "U ZFBSFOE MPBO PVUTUBOEJOHT BNPVOUFE Uo in the DPOUFxt of the MJRVJEJUy crisis. "DDPSEJOHMZ, TBW and socially committed é CJMMJPO ings deposits HSFw Cy 6.6%. 'JWe USBODhes of BPCE individuals all work in favor bonds, sold in the Gorm of securities accounts or MJGe of the development of an #"/$"4463"/$& insurance, brought in €691 million, three times more economy with a strong social value-added component. 5IFZFBSXBTDIBSBDUFSJ[FECZBHMPCBMBQQSPBDIUo than in 20 CBODBTTVSBODFOFFETXJUIUIFMBVODIPGUXPPGGFST: (1) "ccording to the BFBSJOH1oint and TNS Sofres surWFZ * 56 I COMMERCIAL BANKING AND INSURANCE

THE BANQUE POPULAIRE B"/,4

Regarding life insurance, outstandings were main- 1SPGessional customers with dual relationships tained despite a EJGm cult context, with a slight QSPGessional and family accounts) grew by 1 decline of 0.7% recorded in 2011. "s the leading distributors of business TUart-up loans In mutual funds, three guaranteed-capital funds with 28.4% of the NBSLFU and partners with the collected €635 million in JOn ows, including €285 mil- top OFUXorks assisting entrepreneurs, the #anque

O More than1 million lion in ordinary securities accounts and personal 1opulaire banks GBDJMJUate OFw business TUart-ups professional customers, equity plans. and UBLFPWers with loans without personal sureties or with reduced m nancial guarantees in partnership O out of every franchisees 13*7"TE BANKING with small-business NVUual guarantee companies O out of every franchisers #anque 1opulaire QSJWate banking supports its cus- (Socama) and the European InWestment FVOE tomers in CVJMEJOH, managing and USBOTGFSring their In 1, #anque 1opulaire Gormed the only QBSUOFS O out of every craftsmen, Xealth. 5he Fxpertise of QSJWate banking advisers is ship in 'rance with the DPVOUSZs QSPGessional ac- O self-employed QFSGectly suited to help self-emploZed QSPGession- counting association, the Ordre des Fxperts-compt- QSPGFTTJPOBMT als and business Pwners in the DPOUFxt of a dual ables, to GBDJMJUate the m nancing of micro-enterprises QSPGessional-personal banking relationship. in shorter timeframes. O farmers. A 8ealth Management "greement underscores the A OFw electronic funds-transfer diagnostic tool (1) Source: 201 annual surWFy of the franchise industrZ, conducted RVBMJUy of TFSvice QSPvided, and a HSPwth plan Gor helps customers PQUJNJ[e their Dhoices, XIJDh Cy CSA on behalf of the Banque Populaire banks and the FSFODh FSBODhise FFEFSBUJPO this business Xas EFm ned through 5. &YDMVTJWe include electronic commerce with the highly ac- QSJWate banking products and TFSvices OPw include claimed $yberPlus PBJFNFOU tool. $BEFODJB an BSSBy of highly QFSTPOBMJ[ed TFSvices dedicated to customers holding at least é 0. CRAFTSPEOPLE AND SMALL RET"*-&34 1SJWate banking assets under management UPUaled Created in 1 Gor the Dhambers of trade and DSBGt €50 billion at yFBS-end 20 industries, Espace Sherpa PGGers on line simulations $SÏEJU.BSJUJNe to DSBGtspeople with project proposals and helps PROFESSIONAL CUSTOMERS them EFWelop relationships with the bank CSBODh of .VUVFM -ong-standing partners of the Dhambres de métiers their cIPJDF A cooperative bank serving et de l’artisanat iDhambers of trade and DSBGt /Fw brands Xere listed. 0Wer 50 brands CFOFmted all coastal and port-based JOEVTUSJFTw), leading banks of GSBODhise businesses, from OFw relationships with their GVUure GSBODhisees economic players, Crédit .BSJUJNFs corporate purpose BDUJWe with self-emploZed QSPGessionals and Garm- within 48 hours with the help of small-business ad- makes it a preferred bank ers, the #anque 1opulaire banks are the SFGerence visers in the regions. to support the implementation banking institutions for small businesses. of the ﬁ shing and marine culture 4&-'-EMPL0YED PROFESSIONALS QPMJDZ. Crédit Maritime is NEW BUSINESS CREATION, 5",&0VERS 5he Atout -JCÏSBMline is Uailored to meet the needs BGm liated to BPCE, and its six regional banks are supported AND D":-TO-D"Y B"/,*/( of FBDh and FWFSy QSPGession. 5he line is enhanced by the Banque Populaire banks -oan PVUTUandings to QSPGessional customers to- on a regular basis, particularly in the areas of QFS in coastal regions. Ualed €34.5 billion at ZFBS-end 1, a 3% increase. sonal protection and emploZee savings scIFNFT *57 I

'"3.&34 EFTBNÏOBHFVSTMPUJTTFVST i/BUJPOBM"TTPDJBUJPOPf 5IFOFXPOMJOFTBMFTQMBUGPSNGPSBHSJDVMUVSBMQSPEVDUT, 1MBOOFST%FWFMPQFSTw UPGBDJMJUBUFOFXSFMBUJPOTIJQs éNJMMJPn %JSFDUFU#PO XBTBOJOTUBOUTVDDFTTBNPOHQSPEVD XJUISFBMFTUBUFQSPGFTTJPOBMT GPS4.&T FSTXJUIFTIPQTPQFOFEBUZFBSFOE DMPTFUo The €300 million funding WJTJUT BOENPSFUIBO QBHFTWJFXFE 1"YMENT PROCESSING envelope – awarded by the 'odder QVSDhases associated with the drought in XBTDIBSBDUFSJ[FECZUIFNJHSBUJPOPGUIFFMFD European Investment Bank 'rance, in 201, were fBDJMJUated by cash advBODFT USPOJD EBUB JOUFSDIBOHF QSPUPDPM PG DVTUPNFSs in 2010 to the Banque Populaire banks to allow them to provide A product to hedge NBSLet prices of principal agri- NJHSBUFEFBTJMZBOEXJUIPVUBOZBEEJUJPOBMDPTUUIBOLs French SMEs with low interest- DVMUural commodities was launcIFE UPUIFEFEJDBUFE5VSCP4VJUF&OUSFQSJTFTPGUXBSF rate loans to support their *OBEEJUJPOUPUIF&#*$4QSPUPDPM UIF#BORVF1PQV development – was gradually $03103"TE AND INSTITUTIONAL MBJSFCBOLTNBEF48*'5/FUBOE1MBOFU-JOLBWBJMBCMF distributed throughout 2011. $6450.&34 UP UIFJS DVTUPNFST GPS UIFJS QBZNFOUT BOE EBUB FY 5he #anque 1opulaire banks TFSWe 0 compa- DIBOHFT BOE PGGFSFE UIF $MJDL 5SVTU BOE $FSt nies, or 37% of all 'SFODh companies with more than &VSPQF FMFDUSPOJD TJHOBUVSF TPMVUJPOT GPS TFDVSe 0 FNQMPZFFT . 1Byment QSPDFTTJOH, international USBOTBDUJPOT business and companies with PWer é5 million in sales are the Uargeted areas of HSPwth. In addition, */5&3/"5*0/"- *OWFTUJOg #anque 1opulaire also has 0 JOTUJUutional and Foreign-exchange hedging transactions were devel- JOUIFSFHJPOT association customers. oped with the support of Natixis. "DUJn ow Trésorerie *OUFSOBUJPOBMF a new centralized Several banking subsidiaries of the regional Banque Populaire FINANCING AND TRANSFERRING cash-management service, allows customers to see banks help to reinforce the #64*/&44&4 the consolidated and forecasted positions of all of (SPVQs presence in economically .FEJVN BOE MPOHUFSN CVTJOFTT MPBO PVUTUBOE their subsidiaries’ accounts worldwide. robust parts of southern France: JOHT BNPVOUFE UP é CJMMJPO B JODSFBTF Bt The development of an international correspondent Banque de Savoie in the ZFBSFOE network continued with the Confédération Inter- Rhône-Alpes region, Banque 4 #anque 1opulaire banks signed a risk-sharing nationale des Banques 1PQVMBJSFT which now has Marze in Ardèche and Drôme EÏQBSUFNFOUT Banque Chaix, BHSFFNFOUUIBUBMMPXTUIFNUPJODSFBTFUIFJSmOBODJOg members in 22 countries and a newly created dedi- DIJFn y in Bouches-du-Rhône PGGFSJOHT cated website. and Vaucluse EÏQBSUFNFOUT #anque 1opulaire is the only banking OFUXork with (1) Source: Oséo. Banque Dupuy, de Parseval (2) Source : TNS Sofres, June 20 national DPWerage in BEWJTPSy TFSvices Gor business in Languedoc-Roussillon region, USBOTGers. 5he OFUXork implemented TPGUXare that and Crédit Commercial du Sud-Ouest in Aquitaine region. DFOUSBMJ[es JOGormation on sellers and CVZers to GBDJMJUate transactions. " QBSUOFSTIJQ BHSFFNFOU XBT TJHOFE XJUI UIe 'ÏEÏSBUJPOEFTQSPNPUFVSTJNNPCJMJFST i'FEFSBUJPn PGSFBMFTUBUFEFWFMPQFSTi BOEUIF4ZOEJDBUOBUJPOBl * 58 I COMMERCIAL BANKING AND INSURANCE

THE CAISSES %&1"3(/&

SINCE 1818, THE CAISSES D’EPARGNE COOPERATIVE SAVINGS BANKS HAVE COMBINED MUTUAL TRUST SOLIDARITY AND MODERNITY. THE SECOND LARGEST RETAIL BANKING NETWORK IN FRANCE, THE 17 REGIONAL CAISSES D’EPARGNE RANK AMONG THE LEADING BANKS IN THEIR REGIONS. THEY SUPPORT ALL ECONOMIC PLAYERS AND ARE LEADERS IN PROVIDING FINANCING FOR THE PUBLIC SECTOR, SOCIAL HOUSING AND THE SOCIAL ECONOMY

.*--*0/$001&3"5*7&4)"3&)0-%&34 bank for families and seniors, the Caisse d’Epargne The Caisses d’Epargne are 80% owned by co- seeks to provide more advisory services to its cus- operative shareholder customers through local tomers with a dedicated bank adviser, greater ac- savings companies. Natixis owns the remaining cessibility through multi-channel banking, and more 20% in the form of cooperative investment DFSUJm choice with products and services tailored to each Customer cates (CICs). The Fédération Nationale des Caisses customer’s needs and individual situation. d’Epargne is the institution providing deliberation, TBUJTGBDUJPO communication and representation for the Caisses À LA CARTE SERVICES In 2011, the Caisse d’Epargne d’Epargne and their cooperative shareholders. 5IF$BJTTFE&QBSHOFFYQBOEFEUIF#PVRVFU-JCFSUÏ adopted new tools to enhance ËMBDBSUFTFSWJDFQBDLBHFBOEMBVODIFEOFXnFYJCMe customer satisfaction: branch-based remote selling, 1 HIGHLIGHTS QSPEVDUT BOE TFSWJDFT 4PMVUJPO ²UVEJBOUT PGGFST TUV a secure webmail system, O The only major French bank to pay interest on de- EFOUTFTTFOUJBMTFSWJDFTGPSéQFSNPOUI4PMVUJPO-J monthly satisfaction mand deposits for all customers holding a service CSF3FUSBJUFJTBnFYJCMFNPOUIMZTBWJOHTDPOUSBDUGPSSF surveys, and a complaint package, the Caisse d’Epargne systematized an UJSFNFOUQMBOOJOHTUBSUJOHBUéGPSTJYUPTJYUFFO ZFBST; management tool. overall approach to its customers’ needs in 2011. BOE$"%0$BSUFJTBOPGFFQSFQBJEHJGUDBSESBOHJOg O In 2011, the Caisses d’Epargne had business GSPNéUPé BWBJMBCMFJOUIFCSBODIFT dealings with over 600,000 new customers. O 5IF$BJTTFE&QBSHOFOFUXPSLXBTSBOLFEJOmSTt -0ANS AND CREDIT QMBDFXPSMEXJEFGPSJUTNPCJMFCBOLJOHBQQMJDBUJPO . New consumer loans stood at €5.4 billion, a 1% 0WFSPOFNJMMJPODVTUPNFSTVTFUIJTBQQMJDBUJPOGPr increase. New real estate loans exceeded €21.9 bil- J1IPOF J1BE "OESPJEBOE#MBDL#FSSZ¥EFWJDFT lion, bringing total outstandings to €96 billion, an O All the Caisses d’Epargne have established an on- increase of 12%. line branch, .POCBORVJFSFOMJHOFGS, offering all the Caisse d’Epargne was the no. 2 distributor of the services of a traditional branch and an appointed ad- 15; product, with a 16% market share. viser available on-line. O 'SFODIQFPQMFTGBWPSJUFCBOL UIF$BJTTFE&QBSHOe 4"7*/(4 IBT B OFX TUSBQMJOF -B CBORVF /PVWFMMF EÏmOJUJPO In an uncertain economy, customers sought secure i#BOLJOH/FXEFmOJUJPOw BOEBOFXCSBOEUFSSJUPSy savings products that generate income such as BDUJWFMZQSPNPUFEBNPOHFBDIDVTUPNFSTFHNFOU savings accounts and term accounts. On-balance sheet savings JOn ows (demand deposits, savings INDIVIDUAL CUSTOMERS accounts, regulated home savings products, etc.) As the reference bank for young adults and the represented €4.4 billion, €1.8 billion of which was *59 I

NJMMJPO DPPQFSBUJWe NORD FRANCE &6301& TIBSFIPMEFST 1*$"3%*& /03."/%*& CBOLCSBODIFT ·-&%&'3"/$& -033"*/& $)".1"(/&-ARDENNE

#3&5AGNE P"YS DE LOIRE "-4"$&

-0*RE-CE/53& #063(0(/& '3ANCHE-C0.5² éCJMMJPO $BJTTFTE&QBSHOF JODVTUPNFSTBWJOHT

"67&RGNE ET -*.064*/ 3)¼/&"-1&4

"26*5"*/& -0*3& POITOU-C)"3&/5&4 %3¼.E AR%µ$)&

.*%*1:3²/²&4 -"/(6&DOC- 30644*--0/ 1307&/$& "-1ES-C034& éCJMMJPO $¼5E NJMMJPO %h";63 JODVTUPNFSMPBn DVTUPNFST PVUTUBOEJOHT

(1) 5he Caisse d’Epargne Ile-de-France is also ."35*/*26& present in Saint-Pierre-et-Miquelon. (6"%&-061& -A 3²6/*0/ St-P*&33& -et-M*26&-0/ (2) 5he Caisse d’Epargne PSPWence-Alpes-Corse is also present in Martinique, in Guadeloupe and in La RÏVOJPO

collected through BPCE bonds. Livret " passbook PGDSBGUTQFPQMFBOETNBMMCVTJOFTTFTJOUIFCVJMEJOg savings accounts brought in more than €1.4 billion USBEFT BOEQBSUOFSTIJQBHSFFNFOUTPODPNNFSDFBS 'aster in 2011. At the same time, off-balance sheet sav- SBOHFEXJUITFWFSBMCSBOET/FXQSPEVDUTBOETFSWJD EFWelopment in ings outstandings (life insurance, mutual funds) re- FTGPSGBDUPSJOHBOEFNQMPZFFTBWJOHTXFSFMBVODIFd CBODBTTVSBODF mained stable with a total of €110 billion. BMPOH XJUI BO FMFDUSPOJD GVOETUSBOTGFS QSPEVDU GPr IFBMUIDBSF QSPGFTTJPOBMT BOE TPMVUJPOT EFTJHOFd The dynamism of non-life, health and provident insurance – the 13*7"TE B"/,*/( GPS XJOF QSPEVDFST BOE JOEFQFOEFOU CVJMEFST /Fw second largest activity pursued a 5IF $BJTTF E&QBSHOF DPOUJOVFE UP SPMM PVU NFEJVNBOEMPOHUFSNMPBOTHSFXCZUPé CJM by the French savings banks TUSVDUVSFUPQSPWJEFTFSWJDFTEFEJDBUFEUPQSJWBUe MJPO"WFSBHFEBJMZMPBOPVUTUBOEJOHTHSFXCZUo – is underpinned by staff CBOLJOH 5IF OVNCFS PG QSJWBUF CBOLJOH DVTUPN é CJMMJPO/FUJOnPXT JODMVEJOH-JWSFU "QBTTCPPk training, multi-channel FST HSFX CZ UP %FEJDBUFE QSJWBUe TBWJOHTBDDPVOUT BNPVOUFEUPé NJMMJPO distribution solutions and high CBOLJOH TFSWJDF BSFBT GPTUFSJOH B TQFDJBM CBOLJOg (1) 2011 ranking by the independent ﬁ rm MyPrivateBanking. quality service. Innovative (2) JDD-Posternak/-IPSOS image barometer (January 2012). products have been launched, SFMBUJPOTIJQXFSFPQFOFEPSXJMMTPPOCFPQFOFd (3) Source: Société de gestion du fonds de garantie à l’accession sociale (SGFGAS), which provides services to banks that distribute special property such as "TTVS5PJU in housing JOBMMUIFSFHJPOT mortgages established by the French government to promote home insurance and 4ÏDVS.ÏEJB PXOFSTIJQ (4) Confédération de l’artisanat et des petites entreprises du bâtiment. a policy designed for the family’s PROFESSIONAL CUSTOMERS mobile and multimedia devices. *O PWFS QSPGFTTJPOBMDVTUPNFSTTJHOFd B OBUJPOBM BHSFFNFOU XJUI $"1&# BO BTTPDJBUJPn * 60 I COMMERCIAL BANKING AND INSURANCE

THE CAISSES D’EP"3(/&

$03103"TE CUSTOMERS ence bank among regional developers regardless The Caisses d’Epargne continued to record strong of the project. 8 out of 10 DVTUPNFST trust them growth among corporate customers with 12% mar- for their projects and believe that they know their ket QFOFUSBUJPO , a four-point increase in two years. TQFDJm c needs. It signed partnership agreements with France Clus- &Ruity parUOFST ters and the APERE business support network. SOCIAL ECONOMY The Caisse d’Epargne is a partner, through capital "s the leading social-economy m nancial QSPWJEFS The local investment funds, structure, in regional businesses, offering corporate with 22.6% of loans, the Caisse d’Epargne Gorged innovation investment funds, and venture capital funds customers and their managers 360-degree TVQQPSU OFw partnerships with the Centre français des Gon- managed by the Caisse Commercial payment processing grew by 21% to EBUJPOT(“Center Gor 'SFODh Goundations”) and with d’Epargne at a regional exceed €63 billion. New loans totaled €2 billion, a '&)"1 , increased its actions with major corpo- level invest in the seed 3% increase, and loan outstandings were up 19% rate customers, and SFJOGorced its positions in the capital, development capital to €7.6 billion. International activity is growing healthcare sector and buy-in/buy-out segments of their local regions. TUSPOHMZ /Fw loans FYceeded é.5 billion, a 23% decrease, 5he migration to EBICS and 48*'5/FUXas suc- and QByment processing UPUaled €23 billion, a 6% DFTTGVM JODSFBTF The Caisse d’Epargne launched new centralized 5he "TTPDJBUJT passbook TBvings account QSPWed cash-management and risk-hedging services and its appeal among associations with PWer €1 billion expanded its payment voucher offering. DPMMFDUFE The French savings banks increased their techni- cal sales teams and their segment expertise in the 130TECTED PERSONS areas of renewable energy and healthcare. 0Wer one in three people DPWered Cy social protec- Net banking income and earnings were up TJHOJm tion is a customer of the Caisse d’Epargne, XIJDh DBOUMZ QSPvides TQFDJBMJ[ed advisers and an PGGering designed Gor this Uype of clientele. In 1, the 8eb- PROFESSIONAL REAL EST"5& QSPUFYJPOmanagement TFSvice Xas enhanced with Major players among real estate professionals in OFw functions that GBDJMJUate the Uasks of legal repre- France’s regions, the Caisses d’Epargne m nanced TFOUBUJWes. 4Bvings managed Gor this customer residential properties, assisted-living facilities, real base amounted to €5.5 billion at yFBS-end 20 estate services and commercial real estate activities for an amount of €2.3 billion in 2011. New PUBLIC SECTOR loans to developers and real estate agents, under- A major player in lending to local authorities, to their pinned by rental property investments, represented organizations and to public hospitals, the Caisse €1.7 billion. The Caisses d’Epargne m nanced over d’Epargne maintained its loan outstandings at 9,000 residential properties in 2011, i.e. a 9% €48 billion in a very EJGm cult environment. Out of the market share. They are positioned as the refer- €420 million obtained from the Caisse des Dépôts, *61 I

€205 million were distributed in 2011 and €206 mil- )"#*5"5&/3²(*0/ lion in EIB-supported loans were committed. 5he Caisse d’Epargne is one of the main QSJWate *OGormation 5he Group brought in é.4 billion in public-private operators in social housing in 'SBODFs regions with OFDFTTBSy for partnership projects, UIFSFCy SFJOGorcing its MFBEFS 0 social housing units managed Cy its social- making good ship in this sector housing DPNQBOy BGm liates (ESHs) and rent-subsi- EFDJTJPOT Debt-management transactions totaled €3.1 billion. EJ[ed housing DPPQFSBUJWes (HLMs). 5he largest are Active asset management continued to grow steadi- Erilia, Logirem and SIA. The Caisse d’Epargne offers the 36,700 French town councils and ly, as did electronic funds-transfer services, with the 5he )BCJUat en 3égion association helps Group enti- 2,600 districts with a customized Carte Achat 1VCMJD the web-based collection service ties share their Fxpertise and CFOFmt from TFSvices m nancial and socio-economic SP 1MVT and the Chèque de 5BCMF¥, CESU %PNBMJO¥, at the MPXest cost: real FTUate SFTFBSDh, energy diagnosis and a reference CA DO Chèque, BOEChèque *OUFSTFSWJDFT® QBZNFOU audits, DPOTUSuction projects, equipment, energy document to facilitate budget WPVDIFST TBWJOHTDFSUJmDBUFT*O QBSUOFSTIJQTXJUI&JGGBHe discussions. The 'JOBODJBM and Vinci were signed for this purpose. #BSPNFUFS of towns and districts, the &DPEÏm'PSVN and the SOCIAL HOUSING (1) 0CTFSWatoire des entreprises et des banques 20 (2) TNS SOFRES satisfaction surWFZ 'JOBODJBM%BZhelp decision- 5IF $BJTTF E&QBSHOF JT UIF MFBEJOH QSJWBUF CBOk (3) Source: #anque de FSBODF makers in public institutions to (4) 'édération des établissements hospitaliers et d’aide GPS TPDJBM IPVTJOH FOUFSQSJTFT BOE QVCMJD IPVTJOg à la personne privés non lucratifs. 'ederation of non-proﬁt reach the best possible decisions. QSJWate hospitals and personal assistance estBCMJTINFOUT PGmDFT XIJDImOBODFDPOTUSVDUJPOQSPKFDUTMBSHFMy (5) Internal source. through Livret A deposits. The Caisse d’Epargne m nances PWFSPOFUIJSEPGUIJTTFDUPSTQSJWBUFEFCU. *UBMTPTVQQPSUTTFWFSBMMPDBMQVCMJDFOUFSQSJTFTBOd QBSUJDJQBUFTJOUIFHPWFSOBODFPGPWFSPGUIFTe FOUJUJFT In 2011, Crédit Foncier and the Caisses d’Epargne committed €1.4 billion in regulated social-housing loans (PLS, PLI, PSLA) for the year. The second phase of the €125 million “France Logement Social” EIB pool for constructing and rehabilitating social housing was used at year-end. Medium- and long- term m nancing for social housing totaled €2.8 billion, increasing loan outstandings to €13.4 billion. Com- mercial payment processing grew by 10%. Total JOn ows at year-end 2011 amounted to €6.4 billion, €3.1 billion of which were invested in Livret "passbook savings accounts. * 62 I COMMERCIAL BANKING AND INSURANCE

$3²%*T FONCIER

SPECIALIZING IN REAL EST"TE FINANCING, CRÉDIT FONCIER WORKS WITH INDIVIDUALS AS WELL AS PUBLIC AND PRIV"TE OPERATORS IN SYNERGY WITH GROUPE BPCE NETWORKS.

"3&'0$64&%#64*/&44"3&" Crédit Foncier originated about €13 billion in new loans, a decline of 22.3%. The market pushed CBOLCSBODIFT Crédit Foncier to refocus on its core businesses in France over the next few years, while developing synergies with Groupe BPCE’s retail networks in areas where Crédit Foncier provides spe- éCJMMJPO DJm c expertise and knowledge, including loans for JODVTUPNFSMPBOPVUTUBOEJOHT low-income families and long-term m nancing for Compagnie JOEJWJEVBMT TPDJBMIPVTJOH UIFSFHJPOBMQVCMJDTFDUPr de Financement and real estate services. 'PODJFS SFBMFTUBUe 5IJT$SÏEJU'PODJFSTVCTJEJBSZ, LOANS TO INDIVIDUAL CUSTOMERS XIPTFDPWFSFECPOEs The production of loans to individual customers QSPGFTTJPOBMQBSUOFST FOKPZ""""BB"""DSFEJUSBUJOHT, amounted to €7.6 billion, for a total loan outstand- JTPOFPGUIFXPSMETMBSHFTUQSJWBUe ings position of €59.7 billion at the end of 2011. DPWFSFECPOEJTTVFST. /FX QSPEVDUT XFSF MBVODIFE JO JODMVEJOg In 2011, Compagnie de UIF$SÏEJU'PODJFS5SBWBVYMJOF XJUIJOQBSUJDVMBr Financement Foncier raised a total of €8.7 billion through the QSPEVDUT TQFDJmDBMMZ GPS SFOFXBCMF FOFSHZ BOd issue of covered bonds, including BOFX*OUFSOFUQPSUBMGPSDVTUPNFSSFRVFTUTXBs three new benchmark issues that TFUVQ housing stock managed by Osica, a social hous- were well received by investors For its real estate professional partners, Crédit Fon- ing subsidiary of SNI, through a long-term loan for a total of €3.5 billion, with cier developed new tools (simulator, information, of €34.5 million. maturities ranging from three to ten years. The Crédit Foncier etc.), and has established a partnership with the group issued bonds for a total Tour de France of FNAIM within the framework of REAL EST"TE SERVICES of €9.9 billion in 2011. the 100,000 eco-renovated homes QSPKFDU Crédit 'oncier Immobilier helps its customers enhance the value of their real estate assets. PUBLIC AND PRIV"TE OPERA5034 In 2011, it structured into two business lines – With a €5.4 billion loan production to these oper- an advisory and appraisal line and a marketing ators, Crédit Foncier continued in 2011 to be an ac- line – that incorporated B&D Conseils during the tive and innovative partner, including: year, specializing in small- and medium-sized com- O signing a m nance lease, along with four of the mercial properties. Group’s other companies, with STIF, RATP, and the Its professionalism and its compliance with a strict EIB, for €378 million to m nance new tramways in code of ethics have RVBMJm ed all of Crédit Foncier the Île-de-France region; Immobilier’s activities to receive the Regulated by O signing partnerships with towns to help low- RICS label, awarded by one of the largest interna- income families and to support renovation QSPKFDUT tional associations of real estate professionals. O m nancing the renovation of part of the social (1) 5he RPZal Institution of Chartered SurWFZPST *63 I

#"/26E P"-"5*/&

%&%*$"TED TO BUSINESS BANKING AND WEALTH MANAGEMENT, BANQUE P"-"TINE HELPS ITS CUSTOMERS ACHIEVE THEIR PERSONAL AND PROFESSIONAL GOALS.

Dedicated to business banking and wealth manage- to promote the lasting and tailored partnerships it ment, Banque Palatine helps its customers achieve forms with its customers. their personal and professional goals. O Banque Palatine transferred its electronic pay- Banque Palatine has DPOm rmed the quality of its ment and desktop publishing activities to different business model. As a human scale entrepreneur- entities in Groupe BPCE. ial bank, it establishes a true m nancial partnership O *UFOUFSFEJOUPBQBSUOFSTIJQXJUI"DYJPS$PSQPSBUe with its customers and provides truly personalized 'JOBODF BNFSHFSTBOEBDRVJTJUJPOTDPOTVMUJOHmSN, TVQQPSU BOEBDRVJSFEBOFRVJUZJOUFSFTUJOUIFDPNQBOZ

2011 HIGHLIGHTS $03103"TE CUSTOMERS 1, O Its new slogan L’art d’être #BORVJFS(“The art of Banque Palatine continued its steady development a successful year being a banker”) is driven by a real corporate pro- among medium-sized enterprises with revenues Gor the collective ject. It is the subject of an advertising campaign ranging from €15 to €500 million, its target market. QPSUGolio For some of them, it arranged two study visits to management Morocco, bringing its customers and prospects into of Palatine Asset contact with potential Moroccan partners. .BOBHFNFOU CBOLCSBODIFT It launched a comprehensive online corporate bank- Renowned for its conviction- ing service. 85% of its customers have migrated to based management style, the new EBICS and 48*'5/FU protocols. Palatine Asset Management was Banque Palatine TPMJEJm ed its position in corporate awarded 4 and 5 Morningstar m nance by advising and arranging 65 transactions. “stars” for 16 equity funds and three “ﬁ rst prizes” in the “French CVTJOFTTDVTUPNFST It reinforced its leadership among regulated real es- equities” category for its long- tate professions with nearly 40% of national bank- standing 6OJ)PDIF mutual fund. ing JOn ows, and it positioned itself among some NPWJF BVEJPWJTVBM BOEFOUFSUBJONFOUDPNQBOJFT QSJWBUFDVTUPNFST INDIVIDUAL CUSTOMERS New customer acquisitions were also very strong among individuals with more than €50,000 in m nancial assets, with 463 new accounts opened. The éCJMMJPO volume of total savings exceeded €4 billion. JODVTUPNFSMPBOPVUTUBOEJOHT

éCJMMJPO JODVTUPNFSTBWJOHT POCBMBODe TIFFUBOEPGGCBMBODFTIFFU * 64 I COMMERCIAL BANKING AND INSURANCE

#1$&*/5&3/"5*0/"L &50653&.&3

BPCE INTERNATIONAL ET OUTRE-MER (BPCE IOM) HANDLES COMMERCIAL BANKING BUSINESS OUTSIDE OF FRANCE. A WHOLL:-OWNED SUBSIDIARY OF BPCE, IT COMPRISES 13 BANKS, WITH A MAJORITY STAKE IN 11 OF THEM, AND THREE SPECIALIZED SUBSIDIARIES.

O Pramex International was involved as an adviser ORGANIC GROWTH AND ACQUISITIONS in 24 corporate fi nance operations on behalf of me- #1$& *0. PQFSBUFT JO B DPPQFSBUJWF TQJSJU UIBt dium-sized and intermediary businesses. SFTQFDUT MPDBM CSBOET BOE DVMUVSFT *U BJNT Uo EFWFMPQ B MBTUJOH SFMBUJPOTIJQ CFUXFFO JUT CBOLs 5IFCBOLTJOUIF#1$&*OUFSOBUJPOBM BOE UIFJS JOEJWJEVBM QSPGFTTJPOBM BOE DPSQPSBUe FU0VUSFNFSOFUXPSL DVTUPNFST JO UIF DPVOUSJFT BOE SFHJPOT XIFSe FRENCH OVERSEAS UIFZPQFSBUF 08/&34)*1 #3"/$)&4 5&33*503*&4 In 2011, BPCE IOM helped its subsidiaries to build The e tise Banque de La Réunion 88.90% 27 YQFS their activities in support of local economies. It of specialized Banque des added new banks and continued to seek acquisition 99.69% 24 TVCTJEJBSJFT opportunities in growing markets with TJHOJm cant Antilles Françaises #1$&*0.JODMVEFTUISFe savings capacities in Africa and Asia. Banque de 79.66% 2 TQFDJBMJ[FEDPNQBOJFT BPCE IOM acquired 75% of BMOI (Banque Mal- Saint-Pierre-et-Miquelon O Ingépar arranges complex gache de l’Océan Indien) and, with Crédit Coopé- Banque de 96.74% 13 asset fi nancing operations ratif, purchased a 19.4% stake in Banque Nationale Nouvelle Calédonie in French overseas territories: de Développement Agricole du Mali (BNDA). Banque de Tahiti 96.12% 17 transport systems, real estate, BPCE IOM sold its entire capital investment in AFRICA, INDIAN OCEAN hotel and industrial projects, and Crédit Immobilier et Hôtelier (CIH) in Morocco, or Banque des Mascareignes public-private partnerships. 23.8% of its share capital. 100.00% 12 .BVSJDF O Pramex International and its 90 consultants based in 2011 HIGHLIGHTS BMOI (Madagascar) 75.00% 10 15 different countries support the O New services were developed. In La Réunion Banque Tuniso- 60.00% 20 international expansion of more and New Caledonia, a remote banking application Koweitienne BTK (Tunisia) than 600 companies every year. for smartphones was launched. A prepaid card for BICEC (Cameroon) 64.85% 32 O Océorane is a company initially young adults was created in La Réunion. In Saint BCI (Congo-Brazzaville) 99.98% 16 specialized in fi scal optimization Pierre and Miquelon, an online bank card payment (1) operations based on the system for small companies wanting to expand BNDA (Mali) 9.70% provisions of laws such as the their online sales was implemented. BICEC, Cam- &6301& so-called “Girardin” tax-shelter eroon’s top bank, introduced a mobile payment and BCP Luxembourg 80.10% 5 legislation; this entity has been money transfer solution via Orange Money, a m rst Fransabank France 40.01% 1 managed on a run-off basis for in Central Africa. Non-life insurance products were the past two years. expanded for banks in the overseas territories. (1) +9.70% owned by Crédit Coopératif *65 I

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A MAJOR #"/$"4463&63IN FRANCE, GROUPE BPCE DRAWS ON ITS INSURANCE SUBSIDIARIES AND PARTNERSHIPS WITH LEADING INSURANCE COMPANIES. THROUGH THE ".#*5*0/#"/26*&3"4463&63 PLAN THE GROUP IS SEEKING TO ACCELERATE THE DEVELOPMENT OF PROVIDENT AND NON-LIFE INSURANCE IN ITS NETWORKS.

LIFE INSURANCE NON-LIFE AND PROVIDENT Several companies help to design and manage life */463"/$& insurance contracts distributed by the Group net- Non-life and provident insurance cover people and XPSLT QSPQFSUZ O CNP Assurances, France’s leading personal in- The Group’s main structures are CNP Assurances, surer, is a partner of the Caisses d’Epargne, with BPCE Assurances, owned in partnership with Macif TVQQPSUGSPN&DVSFVJM7JF%ÏWFMPQQFNFOU/Vances and MAIF, and Natixis Assurances in partnership in $BQJ a solution designed for private wealth man- non-life insurance with MAAF. agement and protected persons, was launched BPCE Assurances manages a portfolio of more successfully in 2011; than 2.4 million contracts distributed by the Caisse O Natixis Assurances provides life-insurance prod- d’Epargne network, Crédit Foncier, and Banque ucts to the Banque Populaire banks and to inde- BCP. Its production increased by more than 10%, pendent m nancial advisers. #MVF&EFO1BUSJNPJOF, a with 590,000 new policies sold. Two policies were new life insurance policy with an open architecture renewed this year: the ("7 personal accident in- for high-net-worth customers, is distinguished by surance and the MRH Assur’Toit comprehensive its n exibility and its highly extensive selection of home insurance solution. m nancial solutions; /BUJYJT "TTVSBODFT OPOMJGF BOE QSPWJEFOU MJOFs PGUIFDVTUPNFST O Prépar-Vie distributes its products in the BRED GPS JOEJWJEVBM BOE TNBMM CVTJOFTT DVTUPNFST QFS PG#1$&"TTVSBODFT Banque Populaire network. GPSNFE TUSPOHMZ JO UIF #BORVF 1PQVMBJSF CBOLs BSFWFSZTBUJTGJFd In total, net JOn ows from life insurance totaled OFUXPSL*UTSFWFOVFTHSFXNPSFUIBO/BUJYJs XJUIUIFXBy €1.6 billion for the Group, which SFn ects good resil- "TTVSBODFT TPME B OFX NPEVMBS BVUP JOTVSBODe iency in a difﬁ cult context. PGGFS $VTUPNJ[FE GPS JOEJWJEVBM BOE QSPGFTTJPOBl UIFJSDPNQFOTBUJPn DVTUPNFST JUDBOCFBEKVTUFEUPEJGGFSFOUBVUPNP JTIBOEMFE UJWFVTFTBOEQSPmMFT (Source: Cohda, 20

1":.&/5-PROTECTION INSURANCE AND GUARANTEES /BUJYJT"TTVSBODFTDPOUSBDUT Natixis Assurances works alongside CNP Assur- XFSFBXBSEFEUIF-BCFl ances in payment-protection insurance for custom- EFYDFMMFODFCZUIF%PTTJFSs ers of the Caisses d’Epargne and Banque Populaire EFM²QBSHOF BOJOWFTUNFOt banks. Natixis Assurances posted a 45% increase NBHB[JOF in its revenues this year. France’s second-largest issuer of real-estate guarantees, Compagnie Européenne de Garanties et Cautions (CEGC), a Natixis subsidiary, achieved revenues of €254.4 million. * 66 I THE CORPORATE AND INVESTMENT BANKING, ASSET MANAGEMENT AND FINANCIAL SERVICES ARM

/"5*9*4 $03103"5&"/%*/7&45.&/T #"/,*/(

$03103"TE AND INVESTMENT BANKING (CIB) BY NATIXIS OFFERS ITS CORPORATE, INSTITUTIONAL, INSURANCE, AND BANKING CUSTOMERS FINANCING AND CAPITAL-MARKETS SOLUTIONS INCLUDING ADVISORY SERVICES, 03*(*/"TION, STRUCTURING, AND INVESTMENTS. INTERNA5*0/"--:, THE CIB BUSINESSES ARE BASED ON THREE 1-"TFORMS: AMERICAS, ASIA-PACIFIC, AND EUROPE (EXCLUDING FRANCE)/MIDDLE EAST/AFRICA (EMEA).

"TQBSUPGUIF/FX%FBMTUSBUFHJDQMBOMBVODIFEJn JOUFSOBUJPOBMUSBEFmOBODJOH FOFSHZ DPNNPEJUJFT, /BUJYJT$*#JTGPMMPXJOHBDVTUPNFSPSJFOUFd SFBM FTUBUF TUSBUFHJD BDRVJTJUJPOT BOE mOBODJBl TUSBUFHZ"GUFSBCPPNJOHmSTUIBMGPGUIFZFBS UIFTFD FOHJOFFSJOH POEIBMGPGXBTNBSLFECZUIFTPWFSFJHOEFCt DSJTJTJO&VSPQFBOEUIFUJHIUFOJOHmOBODJBMBOEFDP 3&$OGNIZED EXPERTISE OPNJDFOWJSPONFOU"UUIJTEJGmDVMUUJNF /BUJYJT$*# *UTTQFDJBMJ[FEBOETUSVDUVSFEmOBODJOHXPOi%FBl TBXBQPTJUJWFFGGFDUCZSFGPDVTJOHJUTBDUJWJUJFTBOd PGUIF:FBSw BXBSETPOQSPKFDUTFHNFOUT DPNNPE JNQSPWJOH JUT PSHBOJ[BUJPO $*# BDUJWJUJFT BSF PSHBO JUJFT TUSVDUVSFEFYQPSU NBSJUJNF BOEBFSPTQBDF XJUh J[FE JOUP UISFF MJOFT PG CVTJOFTT o TUSVDUVSFE BOd UIF UJUMF i*OOPWBUJWF #BOL w *O /BUJYJs TQFDJBMJ[FE mOBODJOH UIF mYFEJODPNF GPSFJHO FY CFDBNFUIFTFDPOECJHHFTUQSPKFDUmOBODJOHBE DIBOHF BOEDPNNPEJUJFTNBSLFUT BOEUIFFRVJUJFs WJTFSJOUIF&.&"BSFB BOEUIFXPSMETmGUIMBSHFTt NBSLFUT oBMPOHTJEFDSPTTGVODUJPOBMDPWFSBHF mOBODJBMBEWJTFS 5IF BSSBOHFNFOU GPS mOBODJOH UIF BDRVJTJUJPO Pf CUSTOMER RELA5*0/4)*14 1BSNBMBU CZ -BDUBMJT GPS é CJMMJPO XBT OBNFd With its Coverage division, Natixis develops a close i#FTU&.&"-PBOw BOEUIFJTTVFPG CJMMJPn relationship with its major customers, including JOSFWPMWJOHDSFEJUGPS7BMFXBTOBNFEi#FTU-BUJn corporations, m nancial institutions, and the public "NFSJDBO-PBOw /BUJYJTBMTPBUUFOEFEUIFDPO sector. It supports them on a global level, advises TPSUJVN MFE CZ #PVZHVFT #ÉUJNFOU ·MFEF'SBODe them, and offers the most suitable products and BTBmOBODJBMBEWJTFS BSSBOHFS BOEDPWFSBHFCBOk services available from the bank. Customer cover- GPS UIF i#BMBSEw QSPKFDU B QVCMJDQSJWBUF QBSUOFS age is sectoral (expertise in 10 strategic sectors) TIJQ DPOUSBDU GPS UIF GVUVSF IFBERVBSUFST PG UIe and geographical (national, regional, and interna- 'SFODI.JOJTUSZPG%FGFOTFBOEDIJFGTPGEFGFOTe tional). It has 2,500 customers, including 90% of TUBGGJO1BSJT France’s top 350 companies. In a joint venture with the capital markets, Natixis created Global Structured Credit & Solution (GSCS), '*/"/$*/( an insurance and credit solution as well as a secu- /BUJYJTEFTJHOTTUSVDUVSFEmOBODJOHTPMVUJPOTGPSJUs ritization platform. It placed 100% of euro-denom- DPSQPSBUFBOEJOTUJUVUJPOBMDVTUPNFST BTBOBEWJT inated catastrophe bonds and more than 18% of FSBOEBSSBOHFS QBSUJDVMBSMZJOBTTFUmOBODJOHBOd those issued worldwide. *67 I

*OUIFSFOFXBCMFFOFSHZTFDUPS /BUJYJTJTSBOLFd UIFUFOUIMBSHFTUBSSBOHFSXPSMEXJEF XJUI GVMl Best bank for coWered bonds DBQBDJUZ .8PQFSBUJPOTJO5IFTFQSP in 20 KFDUT DBO CF EJTUJOHVJTIFE CZ UIFJS UFDIOPMPHJDBl This prize conﬁ rms Natixis’ worldwide leadership for covered EJWFSTJUZ oCJPNBTT QIPUPWPMUBJDTPMBS TPMBSUIFS bonds (whether denominated in euros or other currencies) NBM POTIPSF XJOE BOE PGGTIPSF XJOE JODMVEJOg and substantiates the expertise it has developed in this BTFUPG XJOEUVSCJOFT oBOEUIFJSHFPHSBQIJDBl market over more than twelve years. Supported by increasing EJWFSTJUZ XJUIQSPKFDUTJO'SBODF 4QBJO *UBMZ (FS bank refunding requirements, the covered bondsmarket is NBOZ UIF6OJUFE4UBUFT $BOBEBBOEUIF6OJUFd pursuing its rapid growth. "SBC&NJSBUFT (Source: opinion poll organized by 5he CoWFS, a &VSP8FFL publication).

$"1*5AL MARKETS capital markets. Its secure platforms guarantee FIXED INCOME, FOREIGN EXCHANGE, best–price execution and operate 24/7 for foreign CREDIT AND C0..0%*5*&4 exchange transactions. *O UIFTF NBSLFUT /BUJYJT JT JOWPMWFE JO CPUI TBMFs BOEUSBEJOH PGGFSJOHJUTDVTUPNFSTJOWFTUNFOUBOd 3&4&"3$) IFEHJOHQSPEVDUTGPS0&$%BOEFNFSHJOHDPVOUSJFT CIB research (economic, credit, equity, quantitative) With its global debt platform, Natixis provides its is part of the process of creating m nancial solutions TU customers with unique access to the credit market. that meet the needs of its customers. As a high This integrated approach makes it possible to iden- added value service, the analyses published each CPPLSVOOFSJO tify the best solution to m t customer needs in terms day by Natixis make it easier for customers to make UIFQSJNBSZFRVJUZ of syndicated loans, primary bonds, securitization, strategic decisions. MJOLFENBSLFU credit solutions, and insurance. (1) Sources: 1roject Finance Magazine, Project Finance International, Global 5rade RFWJFX, 5rade Finance Magazine, IFR, JBOFs 5ransport Finance, JO'SBODFJO The bank strengthened its position as an issuer of Finance "sia, IFR "TJB etc. JOUFSNTPGCPUI bonds from m nancial institutions, businesses, and (2) Source : +BOFs 5ransport Finance – "JSDSBGt Finance InnoWator of the :ear – Transport Finance "Xard 20 WPMVNFBOEOVNCFS French CSBODIFT . It ranks third in the global mar- (3) EMEA advisory mandates closed classifi cation. (4) Source : 1roject Finance International. PGPQFSBUJPOT ket for euro-denominated bond JTTVFT and won 4PVSDF*'3*OUFSOBUJPOBM'JOBODJOH3FWJFXo3FWJFXPGUIF:FBS*'3 (6) Source : Projects larger than €50 million, 5homson Reuters, 1 (Source: Bloomberg – Lazard-Natixis several distinctions, including “best bank” for se- (7) 5op bookrunner in the primary bond market, denominated in euros, with SBOLJOH m nancial institutions* (Source: Dealogic). 5PQCPPLSunner in the primary bond cured bonds in and “greatest improvement” NBSLet, denominated in euros with FSFODh fi nancial institutions in 201 (source: Dealogic). Second highest bookrunner in the primary bond market, in 2011 in the syndicated loan market denominated in euros with FSFODh corporate institutions in 201 (source: Dealogic). (8) Source : *'35homson RFVUFST (9) Source : 5he CoWer – EuroWFFL – CoWered Bond "Xards 20 &26*5*&4 0) Source : &VSP8eek, 1 Syndicated Loans "XBSET The Equities division includes derivative and inter- mediation activities. It provides enhanced, comprehensive services for the entire line of equities products and can handle all corresponding fl ows. Natixis is recognized for the quality of its equity research, which covers 350 securities in 23 TFDUPST *OUIFQSJNBSZFRVJUZNBSLFU /BUJYJTBOE-B[BSE /BUJYJT DPOmSNFE UIFJS UPQ QPTJUJPO BOE UIFJr MFBEFSTIJQJOFRVJUZMJOLFEJTTVFTJO'SBODF Natixis is also working on an online service for * 68 I THE CORPORATE AND INVESTMENT BANKING, ASSET MANAGEMENT AND FINANCIAL SERVICES ARM

/"5*9*4 */7&4TMENT SOLU5*0/4

THE INVESTMENT SOLUTIONS DIVISION INCLUDES ASSET MANAGEMENT, INSURANCE, PRIV"TE BANKING AND PRIV"TE EQUITY. IT RELIES ON DISTRIBUTION NETWORKS THAT HAVE BEEN ADAPTED TO THE SPECIFICS OF ITS MARKETS. WITH ITS GLOBAL EXPERTISE IN ASSET MANAGEMENT, IT CAN MEET THE NEEDS OF ITS INSTITUTIONAL AND PRIV"TE CUSTOMERS.

ASSET MANAGEMENT /BUJYJT (MPCBM "TTFU .BOBHFNFOU JT BNPOg UI UIF UPQ BTTFU NBOBHFST JO UIF XPSME XJUh é CJMMJPO JO BTTFUT VOEFS NBOBHFNFOU Bt MBSHFTUBTTFU UIFFOEPG TPMJEQPTJUJPOTJO&VSPQFBOEUIe NBOBHFSXPSMEXJEF (Source: Cerulli QuantitBUJWe Update: Global Markets 201, 6OJUFE4UBUFT BOEJOUFOTFEFWFMPQNFOUJO"TJB on the basis of assets managed at December 31, 20

A i.6-TIBOUTIQUE” MODEL Natixis Global Asset Management relies on about 20 BGm liated companies practicing all styles of man- Natixis Asset éCJMMJPO agement in the main asset categories. Despite the .BOBHFNFOU unfavorable business environment, its offer and PGBTTFUTVOEFS TU O QMBDFBNPOH'SFODh EJWFSTJm ed geographical coverage have afforded it NBOBHFNFOU BTTFUNBOBHFNFOUDPNQBOJFs a satisfying year, with slightly increasing JOn ows. PVUPGNPSFUIBOSBUFEGVOEs Declining in Europe, activity increased in the United (Source: -e Monde 20 States and Asia, where major mandates were won, O(PME5SPQIZGPSUIFCFTUSBOHe notably in China. PGFVSPEFOPNJOBUFEFRVJUJFs JOUIFi*OTVSFSTwDBUFHPSZPWFr UISFFZFBST EXPERTISE AND DIS53*#65*0/ contracts, and launched some ten products in all (Source: -e RFWFOV 20 /BUJYJT(MPCBM"TTFU.BOBHFNFOUPQFOFEBEJTUSJ asset categories. Top ranked for the quality of its O(PME5SPQIZGPSUIFCFTUSBOHe CVUJPOPGmDFJO.BESJE 4QBJO BOEFOUFSFEJOUPa commercial SFMBUJPOTIJQ , Natixis Asset Manage- PGEJWFSTJmFEGVOETJOUIFi*OTVSFST” EJTUSJCVUJPOQBSUOFSTIJQXJUI+BQBOT%BJXB#BOL. ment offers renowned expertise in m xed-income, DBUFHPSZPWFSUISFFZFBST *U IBT DPOUJOVFE UP FYQBOE JUT NBOBHFNFOU FY European-equity and socially-responsible invest- (Source: -e RFWFOV 20 QFSUJTF XJUIBQBSUOFSTIJQJOWPMWJOHBFRVJUy ment management. Its assets under management JOUFSFTUJOUIF*%'$".NBOBHFNFOUDPNQBOZJn totaled €284 billion at the end of 2011, or 52% of *OEJB *U IBT B NBKPSJUZ JOUFSFTU JO %BSJVT $BQJUBl the total amount managed by Natixis Global Asset 1BSUOFST XIJDI TQFDJBMJ[FT JO BMUFSOBUJWF JOWFTU .BOBHFNFOU NFOU BEWJTJOH BOE JT MPDBUFE JO 1BSJT BOE /Fw :PSL BOEJUDSFBUFE"&86, BSFBMFTUBUFNBO */463"/$& BHFNFOUQMBUGPSNJO-POEPO Natixis Assurances offers a range of solutions In France and Europe, Natixis Asset Management for life insurance, provident insurance, payment- increased its market TIBSF , won multiple key QSPUFDUJPO JOTVSBODF BOE OPOMJGF JOTVSBODF *U is *69 I

BJNFEBUJOEJWJEVBMT JOEFQFOEFOUQSPGFTTJPOBMT and 13*7"TE EQUITY businesses. It is distributed by the retail banking Natixis’ private equity expertise, through its en- networks of Groupe BPCE, mainly by the Banque trepreneurial knowledge and its “one stop shop” Populaire banks, and by independent asset man- model, offers resilient and solid investment alter- agement providers, management companies, and natives to international institutional customers. private banks, for which dedicated subsidiaries The business – which covers the venture capital, Natixis Assurances Partenaires and Natixis Life development capital, and transmission segments in in Luxembourg meet the needs of private wealth addition to the selection of external funds – current- management customers. ly manages more than €2.9 billion. In 2011, the six Net JOn ows have remained positive in life insur- management teams were able to adapt to a highly ance, in spite of the m nancial crisis. Assets under unstable environment by changing their products management were €37.7 billion, an increase of 3%. and services. Non-life insurance continued its strong climb, with (1) Source: Europerformance as of December 31, 2011. (2) Source: “Image et Finances” study – Le Baromètre de la gestion revenues up 8%. Provident and payment-protec- déléguée – 202, December 20 tion insurance posted a very TJHOJm cant increase in revenue (+20%), SFn ecting the ambitious strategy 4élection 1 of the Banque Populaire banks in equipping their OE customers with insurance policies. voted 2 best banking platform by the magazine (FTUJPOEF Several new policies were introduced, including 'PSUVOF (2011 ranking). a modular auto insurance policy and a high-end life insurance policy in the Banque Populaire banks network and, for independent asset management providers and private banks, fund management.

13*7"TE BANKING Dedicated entirely to private investors, private bank- Natixis "TTVSBODFT ing services are provided by Banque Privée 1818 in France and with the teams of Natixis Private O More than1.8 million Banking in Luxembourg. To increase business, it DVTUPNFST capitalizes on three high-potential distribution chan- O new customers nels: Groupe BPCE networks, independent m nancial in 2011. advisers, and direct customers, notably those referred by Natixis. *O QSJWBUF CBOLJOH EFWFMPQFE B GBNJMZ PGmDe TFSWJDFBOETFUVQBMJGFJOTVSBODFQMBUGPSNGPSUIe (SPVQTOFUXPSLT*OBEEJUJPO UIFNFSHFSPG8 1BSUFOBJSFT BOE 4ÏMFDUJPO 3 JO .BSDI SFTVMUFd JO 4ÏMFDUJPO B EFEJDBUFE TVCTJEJBSZ GPS JOEF QFOEFOU mOBODJBM BEWJTFST 8JUI é CJMMJPO JO OFt JOnPXT QSJWBUFCBOLJOHBTTFUTVOEFSNBOBHFNFOt UPUBMFEé CJMMJPOBUUIFFOEPG * 70 I THE CORPORATE AND INVESTMENT BANKING, ASSET MANAGEMENT AND FINANCIAL SERVICES ARM

/"TIXIS: SPECIALIZED FINANCIAL SER7*$&4

41&$*"-*;&%'*/"/$*"-4&37*$&4%&7&-014"3"/(&0'130%6$54"/%4&37*$&4%&4*(/&D "/%."/"(&%8*5)"'0$640/5)&(30614#"/,*/(/&5803,4"/%5)04&0'05)&3'*/"/$*"L */45*565*0/4

SPECIALIZED FINANCING €3 billion in 2011, with an 18% growth in equipment leasing. Natixis Energéco, a major player '"$503*/( in m nancing renewable energy in France, gener- A key player in factoring in France, Natixis Factor ated €204 million in new business, an increase of reached a record level of revenue in 2011 at nearly 3%. Natixis LLD and GCE Car Lease merged to €25 billion, an increase of 18%. A stronger pres- create Natixis Car Lease, which manages a n eet of ence of specialists in the regions, through the 18,000 long-term rental vehicles. Banque Populaire and Caisse d’Epargne networks, provides a more FGm cient response to the needs of $ONSUMER CREDIT their customers. Natixis Factor launched two new 3BOLFE no. 3 JO 'SBODF /BUJYJT 'JOBODFNFOt products, the balance buyback and a pan-European EFTJHOTBOENBOBHFTUIFSFWPMWJOHBOEQFSTPOBl multi-domestic solution, mainly designed for key MPBOT JTTVFE CZ UIF (SPVQT OFUXPSLT "MM QSPE accounts with more than 50% of their revenue fac- VDUTBSFJODPNQMJBODFXJUIUIFMBXPODPOTVNFr %Fm: an tored in 2011. DSFEJU XIJDICFDBNFFGGFDUJWFJO.BZ unparalleled %FWFMPQNFOUDPOUJOVFTPOBTIBSFENBOBHFNFOt multi-brand, SURETIES AND GU"3"/5&&4 QMBUGPSNXJUI#/11BSJCBT1FSTPOBM'JOBODF1BSU multi-service Compagnie Européenne de Garanties et Cautions OFSTIJQTXJUIUIF(SPVQTOFUXPSLTBSFFYQBOEJOg shared-service (CEGC) occupies strong positions in the French real BOEHSPXJOHTUSPOHFS/FXMPBOTUPUBMFEé CJM QMBUGPSN estate market: ranked no. 2 in real estate sureties MJPO BOJODSFBTFPG5IFOVNCFSPGMPBOTVOEFr %Fm and distribution tools among JOEJWJEVBMT , a key guarantor for property NBOBHFNFOUUPUBMFE BUUIFFOEPGUIe dedicated to the administrative managers and realtors, and a co-leader in com- ZFBS and accounting management pletion guarantees among house builders. Nearly of fi nancial instruments enable 40,000 guarantees were issued to businesses, es- CINEMA AND "6%*07*46AL FINANCING middle and back offi ces, sales pecially online market sureties, which have been Ranked no. 1 in 'SBODF , Natixis $Pm ciné m nances advisers and account managers very popular. In 2011, CEGC issued 300,000 guar- the production, distribution, and operation of cin- to handle all types of operations, and allow customers to place antee documents for €23 billion. ematic and audiovisual works. orders online and to consult A total of 456 new projects were set up in 2011, their securities accounts. -&"SE FINANCING for a total of €590 million, 75% of which was for More than 70 banks, fi nancial Natixis Lease provides real estate lease m nancing UIF DJOFNB 5ISFF PG UIF GJOBODFE GJMNT ESFw administrations and asset within all of the Group’s networks and is ranked 25 million viewers in 2011, an outstanding year for management companies have already adopted this solution. no. 1 in the French NBSLFU , providing equipment French fi lms. and property leasing. New business exceeded *71 I

FINANCIAL SERVICES 1":.&/54 France’s third-biggest operator of payment sys- &.1-0YEE BENEFITS PLANNING tems, with market share of 21%, Natixis Paiements Natixis Interépargne and Natixis Intertitres together recorded a 9% increase in payment systems and offer a full range of products in employee CFOFm ts stable business in the processing of checks and planning: savings plans, retirement savings, em- other n ows. The development of innovative pay- ployee share ownership, collective insurance and ment solutions, including the contactless payment service vouchers. card, will continue to be developed in 2011 for cus- Natixis Interépargne consolidated its position as tomers of Groupe BPCE networks. the leading keeper of employee savings accounts in 'SBODF with more than 3 million employee ac- $645ODIAL SERVICES counts, 50,000 businesses, and a market share of Ranked no. 2 in retail custody and private wealth . The leader in employee savings plans also management in France, the EuroTitres depart- consolidated its top position in employee savings, ment handles all of the securities networks for the with of the market, posting a strong in- Group’s networks and many leading banking and crease in the Perco market with a market share of m nancial players. more than in accounts under management *OBOVOGBWPSBCMFFOWJSPONFOU BTTFUTVOEFSNBOBHF and more than in assets under custody. Em- NFOUEFDMJOFE BOEUIFSFXFSF NJMMJPOTFDVSJUJFs ployee savings plans for SMEs and small business- BDDPVOUTVOEFSNBOBHFNFOU es also grew strongly, with more than 11,000 new (1) Source: Natixis studies. (2) Source: Natixis Coﬁ ciné stVEJFT DPOUSBDUT (3) Source: AFG as at June 30, 20 (4) Source: Finansol, June 20 Natixis Intertitres introduced its entire product line (5) Source: Natixis Interépargne as at December 31, 20 to the Caisses d’Epargne network. Its market share (6) Source: Titres Cadeaux as at December 31, 20 topped for $&46 %PNBMJO¥ and reached nearly 12% for the Chèque de 5BCMF¥ whose total number of users were up 15% in one year. Payment vouchers were expanded with CA DO $BSUF launched by Titres Cadeaux, a subsidiary of Natixis and La Banque Postale, becoming the fourth-largest issuer of gift certiﬁ cates in France. * 72 I EQUITY INTERESTS

&26*TY INTERES54

/&9*5: MAISONS FRANCE CONFORT Nexity and its corporate project Nexity %FNBJO, Maisons France Confort is a leading company for launched in 2011, strive to be a part of all real estate homebuyers in France and one of the top play- projects. Under its own brand, the Group provides ers providing ownership opportunities to m rst-time individuals, businesses, and local government with homebuyers. Its revenues totaled €584 million, an the most comprehensive range of consulting and increase of 32%. expertise, products, services, and solutions in order Maison 1FSGPSNBODFT a steel-frame house provid- to meet all needs. Its business areas – transaction, ing excellent value in terms of quality, price and per- management, design, promotion, layout, advis- formance DPOm rmed its potential, and the Concept ing, and all related services – are set up to serve MFC the m rst positive energy home, which and support them. Top ranked in its sector, Nexity comes with an electric car, was launched. is m rmly committed to its customers, the environment, and society. $0'"$& The 2011 results show the Group’s strength, its Coface provides businesses with credit insurance strong sales, and the quality of its management. In solutions and helps them assess and prevent the terms of sales, Nexity continued to improve, with risk of m nancial collapse by their buyers. It also man- a strong increase in market share in residential real ages public guarantees (which cannot be insured in estate and a historically high number of commercial the private market) to support French exports. Its in- real estate orders. Together, the order books for ternational network gives it a presence in 79 coun- these two activities are at their highest levels ever. tries, either directly (66 countries) or through its In services and networks, performance is solid, and CreditAlliance network partners. the Group has taken steps to make them even bet- In 2011, Coface refocused its core business (credit ter. Financially, the results are satisfactory, with a insurance) and reorganized around seven geograph- strong balance sheet and TJHOJm cant unused m nanc- ical platforms for more personal service and high ing capacity. service quality. In line with projections, 2011 revenues totaled In 2011, revenues increased 7.4% to €1.55 bil- €2.6 billion. Current operating income was €212 million, 83% of which was from credit insurance. The lion, excluding expenses related to the Nexity De- claims ratio and the net cost ratio for reinsurance NBJOproject, for an operating margin of 8.1% and improved (57% and 25.2% respectively). Current current income after taxes equaling €122.2 million. net income was €121 million, excluding restructur- ing costs (+21%).

(1) Source: -e Moniteur, December 23, 20 %FTJHOQSPEVDUJPO #1$& $PSQPSBUF$PNNVOJDBUJPOT%FQBSUNFOU

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