S U S T A I R N E A P B O I R L T I T Y

Chairman’s message ...... 4

Sustainability and CSR at BMCE Bank of Africa, the keys to a better world ...... 6

BMCE Bank of Africa’s Corporate Social Responsibility Charter ...... 7 A commitment to Sustainable Development Goals, an outstanding opportunity to enhance overall performance ...... 12 Initiatives, partnerships and strong synergies, to emphasise the value of sustainability and CSR within the Group ...... 13 BMCE Bank of Africa’s governance model underpinned by solid governance bodies ...... 14 Materiality of sustainablity and CSR challenges ...... 21

BMCE Bank Foundation, a key player in promoting access to education in Morocco...... 22

Dialogue with stakeholders, a practice embedded in BMCE Bank of Africa’s vision ...... 30

CSR for social impact, to better meet community expectations ...... 36

Leveraging strong social cohesion within human capital to boost performance ...... 38

Workplace environment and HR processes enabling the Group to leverage collective effort ...... 43

Leveraging ‘know-how’ capital to expand sustainable opportunities ...... 46

Audit and control mechanisms contributing to overall performance ...... 47 ESG risk management system commensurate with global standards ...... 48 Mechanisms for preventing corruption and combating fraud ...... 50 A proactive approach to complying with current standards, legislation and regulations ...... 51

Leveraging ‘commitment’ capital to adapt to environmental challenges ...... 52

Close attention paid to reducing environmental impacts on BMCE Bank of Africa’s operations ...... 53

BMCE Bank of Africa committed to developing positive impact, green and sustainable finance ...... 54

Leveraging ‘relationship’ capital to foster inclusive growth ...... 60

Customer strategy capitalising on trust, a convergence of interests and excellence ...... 61

Relationship with stakeholders based on commitment and dialogue ...... 68 CHAIRMAN’S MESSAGE

BMCE Bank of Africa Group plays a pivotal role in the domestic, regional and international banking landscape. Adopting a multi-dimensional approach to business, it promotes Impact Finance as a driver of Corporate Social Responsibility. This has led to a number of pioneering initiatives in Morocco and Africa.

BMCE Bank of Africa’s contribution to achieving Othman BENJELLOUN the Sustainable Development Goals set by the Chairman & Chief Executive Officer international community is ongoing. It is the first Bank in Morocco to endorse the UNEP FI Responsible Banking Principles and its Positive Impact Finance initiative. Almost two decades ago, in 2000, it became the first African signatory to the UNEP FI Statement of Commitment by Financial Institutions on Sustainable Development.

PAGE 4/5 In 2018, our Bank became a member of the The adoption of the Group’s Social Responsibility Mainstreaming Climate Action Initiative’s Charter by every Group subsidiary provides Coordination Group alongside the European further testimony to its proactive and integrated Bank for Reconstruction and Development, the commitment to sustainable and responsible French Development Agency, the West African development. Development Bank and other renowned financial institutions. This initiative aims to systematically By focusing on financial product innovation and integrate climate change considerations across the maintaining momentum in its commitment to strategies of financial institutions. sustainability and social responsibility, thanks to the involvement of every staff member, BMCE S BMCE Bank Foundation also underlined its ongoing Bank of Africa Group is working resolutely U commitment to education and the environment towards transforming economies and markets in S T when a growing number of its schools were awarded Morocco and in Africa that are looking for positive A I R the Eco Label by the Mohammed VI Foundation environmental and social impacts, and towards N E for Environmental Protection. The Foundation transitioning to a low-carbon economy. A P B O also allocated additional resources to training and I R promoting access to digital technology. L T I T Y Sustainability and Corporate Social Responsibility at BMCE Bank of Africa, the keys to a better world

PAGE 6/7 BMCE BANK OF AFRICA’S SOCIAL RESPONSIBILITY CHARTER

BMCE Bank of Africa’s Social Responsibility Charter

InIn March 2018, the Board of Directors officiallofficiallyy approved the Social Responsibility Charter, which was then signed by the Chairman, MrMr Othman Benjelloun. This endorsement by the GroupGroup’s’s highest decision-makingdecision-making body ensures that each subsidiary makes an effective contribution to the Charter’s six commitments.

Business ethicseth andnd responsibler customer relations

Sustainableable financef Communityunity involvementin Ǎ Anti-corruption, anti-fraud and andnd social anti-competitive practices andd stakeholderst entrepreneurship dialogued Ǎ Anti-money laundering and countering terrorism financing Ǎ Information security and personal data ǍEnvironmental and social risks Ǎ Education protection management ǍSupport microfinance and financial ǍResponsible customer relations ǍFinancing resource efficiency education ǍPreventing over-indebtedness (water, energy, waste) ǍFinancial inclusion Ǎ Responsible Purchasing ǍLow-carbon economy and cleaner production ǍRespect for human rights ǍSupporting the growth of SME ǍDialogue with stakeholders and VSE (very small enterprises) ǍSocial Entrepreneurship ǍFinancial inclusion ǍPositive impact investing

Business ethics and responsible customer relatit ons Community Sustainablee iinterest financee aand and dialodialogue socialso with stakeholdeoldereerersrs entenentrepreneurship

S BeingB U Environmenment a reresponsponsible employerer S T Corporate A governance I R and risk management N E A P B O I R L T I Envirovironment Beingng a responsibler T employerem Y

ǍReducing the environmental footprint Corporarporate governance Ǎ Diversity and equal opportunity in day-to-day operations (energy, andan risk management for women and men water, waste, greenhouse gas Ǎ Career management and training emissions) Ǎ Supporting career change ǍPromoting sustainable construction ǍEnsuring that the information provided and internal mobility ǍFostering sustainable culture to the Board and Specialised Ǎ Occupational health, and behaviour Committees is reliable safety and wellbeing Ǎ Risk management and integration Ǎ Collective bargaining and social of ESG factors dialogue Ǎ Directors’ independence Ǎ Certified, comprehensive and true and fair financial information Ǎ Respect for shareholders' rights BMCE BANK OF AFRICA’S SOCIAL RESPONSIBILITY CHARTER

BMCE Bank of Africa's Sustainability and CSR ethos, rigorously enforcing the most exacting of norms and standards

RoR adadmmaps aree draawwn up and validated by each of The principle currently adopted for each entity and the depap rrtmeentn s iinvolved to ensure that this ethos is subsidiary of the Bank and of the Group is to extend firmlm y eme beb dddeded withih n each business line. the benefits derived from our undertakings to the largest number of parties in question, making the strongest positive impact.

PAGE 8/9 Steering Sustainability and CSR effectively at BMCE Bank of Africa for more than 20 years

• Becomes a member and leading partner of the local Morocco Network of the United Nation Global Compact • Signs the Principles for Positive Impact Finance of the 2017 United Nations Environmental Programme Finance Initiative (UNEP FI)

• Supports the Principles for Mainstreaming Climate 2016 Action within Financial Institutions • Signs the United Nations Global Compact, underlining its commitment to the ten principles

• Adopts a Responsible Purchasing Charter

• Support the launch of the UNEP FI Positive Impact Manifesto

• Endorses EBRD’s « Statement by Financial 2015 Institutions on Energy Efficiency Finance » coordinated with UNEP FI

2010 • Adopts the Equator Principles

S • Establishes an Environmental and Social U Management System (ESMS) in partnership with S International Finance Corporation (World Bank 2008 T Group) A I R N E A P B O I R L T I T Y • Becomes the first Moroccan bank to sign the 2000 UNEP FI Statement of Commitment by Financial Institutions on Sustainable Development BMCE BANK OF AFRICA’S SOCIAL RESPONSIBILITY CHARTER

2018 A pivotal year for Sustainability and CSR at BMCE Bank of Africa

BMCE Bank of Africa is a leading partner of the UN Global Compact’s Morocco Network, which was established in March 2018 in partnership with the Confédération générale des entreprises du Maroc. The network comprises a dozen or so companies that are committed to incorporating environmental and social impacts in their strategy

Group Sustainability and CSR Charter adopted by the 15 Bank of Africa subsidiaries and 4 of the Group’s Moroccan subsidiaries, Maghrebail, BMCE Capital, Salafin and BTI Bank A supporting institution of the ‘Principles for Mainstreaming Climate Action within Financial Institutions’, alongside the EBRD, the AFD, YES Bank, HSBC, the IDB and the WADB

Named ‘Top CSR Performer 2018’ by Vigeo Eiris, a leading international extra financial rating agency, for the 5th consecutive year in 7 areas of corporate social responsibility

BMCE Bank of Africa’s CSR Charter adopted

Named ‘Socially Responsible Bank of the Year’ for the 2nd time by African Banker Awards 2018

PAGE 10/11 BMCE Bank of Africa 2018 Top CSR performer

In light of the above achievements, BMCE Bank of Africa was included in the new Casablanca ESG 10 Index.

The Casablanca Stock Exchange, in conjunction with the independent international research and services agency, Vigeo Eiris, has set up the Casablanca ESG 10 Index, an environmental, social and governance (ESG) benchmark.

This distinction provides recognition of BMCE Bank of Africa’s commitment to the Sustainable Development Goals and its ambition to foster a reputation as a banking and financial institution making a positive impact on its stakeholders.

In 2018, BMCE Bank of Africa performed particularly well on the following 16 criteria:

CONTINUING TO IMPROVE 1 OCCUPATIONAL HEALTH AND SAFETY 9 CONTROLLING TRANSPORT-RELATED CONDITIONS ENVIRONMENTAL IMPACTS

FAIR TREATMENT OF GREEN PRODUCTS AND SERVICES 2 SHAREHOLDERS 10 OFFERING

CONTRIBUTING TO REGIONAL RESPONSIBILITY IN AWARDING 3 SOCIO-ECONOMIC DEVELOPMENT 11 CONTRACTS AND RESPECT FOR CUSTOMERS’ RIGHTS

DEFINING THE GROUP’S PREVENTING DISCRIMINATION AND 4 ENVIRONMENTAL STRATEGY 12 PROMOTING GENDER EQUALITY AND INCLUSION OF VULNERABLE GROUPS

EFFECTIVE INTERNAL AUDIT AND PROMOTING AND CONTINUING TO 5 CONTROL SYSTEMS 13 IMPROVE THE SOCIAL DIALOGUE FRAMEWORK AND ITS CONTENT

BALANCE OF POWER, RESPECT FOR TAKING INTO ACCOUNT THE SOCIAL 6 COMPETENCIES AND EFFICIENCY AT 14 IMPACT OF PRODUCTS AND SERVICES BOARD LEVEL AT A REGIONAL LEVEL

S INFORMING CUSTOMERS PREVENTING CORRUPTION AND U 7 15 MONEY LAUNDERING S T A CONTROLLING ENERGY RESPECTING FUNDAMENTAL HUMAN I R 8 CONSUMPTION AND REDUCING 16 RIGHTS AND PREVENTING HUMAN N E POLLUTION EMISSIONS RIGHTS VIOLATIONS A P B O I R L T I T Y A COMMITMENT TO THE SUSTAINABLE DEVELOPMENT GOALS

A commitment to the Sustainable Development Goals, an outstanding opportunity to enhance overall performance

the collective involvement of about Consistent with the UN 17 Sustainable 15,000 Group employees across Development Goals, BMCE Bank of more than 30 countries, committed to Africa’s approach to Sustainability upholding a set of shared values that and CSR is underpinned by give meaning to the Group’s every action.

Business ethicseth and respoesponsible customer relations Commununityity interestin Sustainableable financef andnd didialogue with andnd social stakeholdersst entrepreneurship

Businesss ethics and responsible customer relations CommunityC Sustainablee internterest and financece aand dialogueue withw social stakeholdersrs entenentrepreneurship

Envivironmnmmeent BeiBeingB a responsibre nsible employer Corporate governance and risk managa ement

Being a responsible Envnvironmenti employerem

Corporrporate governance andan risk management

PAGE 12/13 EMPHASISING THE VALUE OF SUSTAINABILITY AND CSR WITHIN THE GROUP

Initiatives, partnerships and strong synergies to emphasise the value of sustainability and CSR within the Group

With operations in more than 30 countries Implementing and continuing to improve in Africa, Europe and Asia, BMCE Bank Sustainability & CSR practices of Africa’s growth trajectory, its size and scope, now mean that its ethical, Self-appraisalSelf-affappraisal of manmanagerialagerial ppracticesractices by comcomparisonparpap ison wwithitht ththeeeC CCSRSR ChaCharterrter environmental and social practices are scrutinised even more closely.

It is for this reason that BMCE Bank of Africa Group’s Corporate Social Responsibility Charter was formally 150 15 adopted in March 2018. MANAGERS SUBSIDIARIES

In accordance with General Management guidelines, CollaborativeCoColC lababorative wworkshoporkkshos p ttoo graduallygradually impimplementlement an implementation plan for the CSR Charter was SusSustainabilityu tainability & CCSRSR policypolicy drawn up to help the Group fulfil its undertakings. SusSustainabilityusstaita nababiliili tyy eveeeventsv ntss to imimplementmplemenent tthehe CSRC ChCharterarttere

SUSTAINABILITY & CSR 10 COORDINATORS’ 5 FRENCH-SPEAKING CLUB ENGLISH-SPEAKING SUBSIDIARIES SUBSIDIARIES

Three implementation cornerstones

Sustainability and CSR Sustainability and CSR Sustainability and CSR self-appraisal action plan reporting S U S T A I R N E A self-appraisal conducted by each A Sustainability & CSR action plan The Sustainability & CSR A P subsidiary on a participatory basis was drawn up by each subsidiary reporting process is standardised B O in respect of the Sustainability based on the results of the self- at subsidiary level to ensure that I R & CSR reference framework has appraisal, corporate strategy, the information is shared consistently L T seen BMCE Bank of Africa make cornerstone projects in progress and efficiently. Reports comprise I T progress on the Charter’s six and best industry practice. a series of key indicators for each Y undertakings. This self-appraisal CSR Charter undertaking which enabled the Group to provide enables the Group to measure employees with detailed content of the progress made and build on each of the Charter’s undertakings, the results obtained thanks to deepen understanding of the the effectiveness of the various related issues and make an initial actions implemented. assessment of measures taken by subsidiaries regarding Sustainability & CSR, as well as progress made in respect of each goal. BMCE Bank of Africa’s governance model underpinned by solid ggovernance bodies

PAGE 14/15 GOVERNANCE

BMCE Bank of Africa, a multinational BOARD OF DIRECTORS’ RESPONSIBILITIES enterprise with operations on four The primary responsibility of the Board of Directors is continents and keen to attain the to maintain a balance between shareholders’ interests standards set by international best and growth prospects, long-term value creation and practice, is committed to an ongoing depositor protection. process of enhancing its corporate governance system. The Board of Directors has the following responsibilities: (i) Strategic planning, (ii) Determining CORPORATE GOVERNANCE CHARTER and managing risk, (iii) Internal control, (iv) Corporate governance, and (v) Sustainability. In drawing up a Corporate Governance Charter INTERNAL RULES in accordance with Bank Al Maghrib Directive 1/W/2014BMCE, the Bank’s Board of Directors, an BMCE Bank of Africa’s Board of Directors, which is integral component of the corporate governance committed to ensuring that its managerial practices system, procured the means needed to fully assume are consistent with international corporate governance its role as a responsible agent within the Bank. standards for publicly-listed companies, decided to draw up its own Internal Rules. Adopting and This Charter is primarily aimed at defining each implementing these Internal Rules will help enhance stakeholder’s powers, their bounderies and how they the Bank’s international stature and leadership interact. The Corporate Governance Charter therefore vis-a-vis its shareholders, customers and partners, enables BMCE Bank of Africa Group to organise national and international. the functioning and the decision-making processes of its most important bodies more effectively - the Annual General Meeting of Shareholders, the Board of Directors and General Management. These Internal Rules are BOARD OF DIRECTORS applicable to: COMBINING THE FUNCTION OF CHAIRMAN WITH THAT OF CHIEF EXECUTIVE OFFICER THE COMPOSITION AND 1 RESPONSIBILITIES OF THE BOARD OF DIRECTORS Combining the function of Chairman with that of Chief Executive Officer is a major asset for the Group due to Mr Othman Benjelloun’s personal involvement 2 ITS MODUS OPERANDI S in the Group’s operations. The inherent attributes of U S these functions are therefore maximised, thereby T enhancing the Group’s performance. THE SPECIAL MANDATES AND A 3 SPECIALISED COMMITTEES WHICH I R REPORT DIRECTLY TO THE BOARD N E A P THE ETHICAL RULES APPLICABLE TO B O Strategic Determining and managing 4 DIRECTORS (ETHICS CHARTER FOR I R planning risk DIRECTORS) L T I T Board of Directors’ Y responsibilities

Sustainability and Social Internal control Corporate governance Responsability GOVERNANCE

INFORMATION FOR DIRECTORS DIRECTORS’ FEES PAID TO BOARD MEMBERS

Newly-appointed Directors receive all information 31/12/18 31/12/17 Net Net needed for them to perform their duties. Gross Tax Gross Tax amount amount amount* withheld amount withheld paid paid DIRECTORS’ INDEPENDENCE Morocco- domiciled 3 485 885 2 600 2 842 692 2 150 BMCE Bank of Africa Group’s Board of Directors individuals and comprises twelve Directors, four of whom are legal entities independent. The term of office of Directors is six Foreign- domiciled 3 823 573 3 250 3 353 503 2 850 years. individuals and BMCE Bank’s independent directors are: legal entities - Mr François HENROT, a French citizen TOTAL 7 308 1 458 5 850 6 195 1 195 5 000 - Mr Brian C. McK. HENDERSON, a US citizen (MAD thousands) - Mr Philippe DE FONTAINE VIVE, a French citizen (*) Previous year’s Directors’ fees - Mr Christian de BOISSIEU, a French citizen. The following table shows the remuneration of the members of the General Management team in 2018:

Frequency Percentage REMUNERATION OF THE MAIN CORPORATE of Board meetings of independent directors EXECUTIVES

4 meetings 33% 31/12/2018 31/12/2017 in 2018 Short-term benefits 21 061 20 278 Attendance rate Post-retirement benefits 1 568 634 Other long-term benefits 6 179 4 846 90% (MAD thousands) It is worth noting that short-term employee REMUNERATION benefits relate to the fixed remuneration, inclusive of employer contributions, received by corporate As far as Directors’ remuneration is concerned, the executives in 2018. total amount allocated for Directors’ fees is made up of two parts, a fixed part and a variable part, depending Post-retirement benefits relate to outstanding leave on their status as Chairman or Member and their level to be reimbursed in the event that an employee of participation in the Board of Directors’ Specialised leaves the company, while termination benefits Committees. encompass end-of-career bonuses and long-service awards to be paid to those in question on leaving the company.

CORPORATE EXECUTIVES’ BORROWINGS

31/12/2018 31/12/2017 A. Short-term outstanding 37 492 18 087 loans B. Outstanding property 12 965 9 331 loans TOTAL OUTSTANDING 50 457 27 418 LOAN (MAD thousands)

PAGE 16/17 GOVERNANCE

BANK’S SPECIALISED COMMITTEES GROUP AUDIT AND INTERNAL CONTROL COMMITTEE

In accordance with Bank Al-Maghrib’s requirements, the The Group Audit and Internal Control Committee assists Board of Directors is supported by specialised committees the Board of Directors with regard to internal control while responsible for conducting in-depth analysis of priority issues ensuring that (i) the internal control system and resources are and advising it on matters relating to its responsibilities. adequate to be able to monitor and control risk within the Bank and at subsidiary level and produce information required by CORPORATE GOVERNANCE, APPOINTMENTS & the regulatory authority as part of the process of monitoring REMUNERATION COMMITTEE the consolidated entity; (ii) the financial information intended for the Board of Directors is reliable and accurate, such that The Corporate Governance Committee is a body reporting the legitimate interests of shareholders, depositors and other directly to the Board of Directors. It advises and makes stakeholders are safeguarded; and (iii) review the parent and recommendations to the Board on how to establish and consolidated financial statements prior to submitting them to maintain a good corporate governance policy. the Board of Directors.

GROUP RISK COMMITTEE

The Group Risk Committee assists the Board of Directors in matters such as strategy and risk management. In particular, it ensures that overall risk policy is adapted to the risk profile of both the Bank and the Group, the degree of risk aversion, its systemic importance, its size and its capital base.

COMPOSITION OF COMMITTEES IN 2018

Frequency Number of members including Attendance Independence (Number of Independent Directors rate ratio meetings held) Corporate Governance, 3 members including Appointments & Remuneration Annually 1 100% 66% 2 Independent Directors Committee 7 members including Group Risks Committee Quarterly 6 95% 57% 4 Independent Directors S Audit & Internal Control 5 members including Quarterly 5 100% 60% U Committee 3 Independent Directors S T A I R N E A P B O I R L T I T Y GOVERNANCE

RESPECT FOR SHAREHOLDERS’ RIGHTS

A right to be informed A right to be able to access the on a permanent and temporary annual financial statements for the basis previous 3 financial periods

A right to propose resolutions for A right to receive dividends the agenda if the shareholder has a stake of 5% or more

A right to vote based A right to vote on the ‘one share, one vote’ by proxy via an online form principle

COMPREHENSIVE FINANCIAL INFORMATION PROVIDING A TRUE AND FAIR VIEW

BMCE Bank of Africa has been listed on the BMCE Bank of Africa has developed a variety of Casablanca Stock Exchange since 1975, on the London communication channels and information media to Stock Exchange since 1996 when it issued Global be able to respond to the needs and expectations of Depositary Receipts (GDRs) and on the Luxembourg different stakeholders within the financial community, Stock Exchange since 2013 following its Eurobond including shareholders, investors, analysts, journalists, issue. The Bank’s financial communications strategy regulatory authorities and credit rating agencies. It aims to convey information that is accurate, precise adopts a proactive approach, designed to enhance and true for every type of audience, in accordance the Bank’s corporate image and increase share price with current regulations. visibility.

PAGE 18/19 GOVERNANCE

INTERNAL CONTROL SYSTEM - Compliance-related advisory, which aims to provide operational entities with the support needed for In 2018, BMCE Bank continued to implement them to perform their duties both domestically and initiatives aimed at bolstering its internal control overseas and mitigate non-compliance risk; system. - Steering Group Compliance, which is responsible The Group’s Internal Control system comprises a for enforcing Group standards at subsidiary level and permanent control system and an ad hoc one which, providing subsidiaries with assistance and support. although distinct and independent of each other, are complementary and well-coordinated. BMCE BANK OF AFRICA’S SUSTAINABILITY AND CSR NETWORK AD HOC CONTROL The Sustainability and CSR Charter is governed by a The Group General Control Department, which dedicated and well-resourced organisational system reports to the Chairman & Chief Executive Officer, underpinned by a functional approach in relations is responsible for carrying out Level 3 ad hoc between managers and a network of coordinators. inspections. HOW THE SUSTAINABILITY AND CSR Its responsibilities also include acting as coordinator NETWORK WORKS WITHIN BMCE BANK vis-à-vis the Board of Directors and the Group Audit OF AFRICA and Internal Control Committee.

PERMANENT CONTROL SUSTAINABILITY AND CSR COORDINATORS GROUP

The Permanent Control function is implemented ENVIRONMENTAL, SUSTAINABILITY & CSR within BMCE Bank of Africa Group as part of an SOCIAL AND SUSTAINABILITY COORDINATORS COMMUNITIES COMMITTEE overall approach and in the context of the general trend towards transformation, so as to raise the level of vigilance in each of the Group’s business units. DIRECTOR SUSTAINABILITY & CSR COORDINATORS OF EACH ENTITY FOR EACH ENTITY GROUP COMPLIANCE

The Compliance function is responsible for drawing up and implementing the system for managing non- compliance risk at Group level. It covers a number of S areas including: U S - Financial security, which encompasses issues such T as anti-money laundering (AML) and countering the A I R financing of terrorism (CFT), Know Your Customer N E (KYC) and compliance with financial embargoes; A P B O I R - Ethics and professional conduct, which encompasses L T matters relating to rules of proper conduct, managing I conflicts of interest, insider trading incidents, whistle- T blowing, the prevention of fraud and corruption and Y personal data protection; GOVERNANCE

A network of Sustainability and CSR Coordinators at each subsidiary

Sustainability and CSR Department main responsibilities

Ensure consistent Support subsidiaries implementation of implement the Charter the CSR Charter at subsidiary level

Consolidate Oversee the setting Sustainability & CSR up of sustainable and results at Group level impact finance facilities

6 CSR PWG (PERFORMANCE WORKING GROUPS) at BMCE SA level Working Groups Main responsibilities

Ensure thatt half-yearly h lf Draw uppp actionti plans appraisals are carried and monitor their implementationp based on out in relation to the the results of internal and CSR charter framework external appraisalspp ((Vigeo g Eiris) and benchmarks

Draw up, inputi and Prepare Extra-financialtfi share the Sustainability reporting & CSR indicator spreadsheet for each commitment

PAGE 20/21 MATERIALITY OF CSR CHALLENGES

Materiality of Sustainability and CSR challenges K A D B L M N C E O The Group’s Sustainability and CSR G F Charter was established on the basis of H a concerted exercise in materiality with Q internal departments and extra-financial I performance experts (independent P J third parties), in response to response to stakeholders expectations. VULNERABILITY (MATERIALITY FOR STAKEHOLDERS) FOR (MATERIALITY VULNERABILITY

MATERIALITY FOR BMCE, POTENTIAL IMPACT ON PERFORMANCE, 2016

Analysis of Sustainability & CSR challenges VITAL A Safeguarding the Group’s long-term future thanks to a risk management strategy that incorporates environmental, social and governance aspects Potential impact Stakeholder on operations vulnerability B Compliance with rules and regulations to these aspects VERY IMPORTANT

C Training and employment prospects/Career management Equality in the workplace - principles and policies of non- Grouping of Sustainability & CSR challenges D discrimination and increasing women’s access to managerial positions

E Social dialogue Group Goals outlined in the 6 commitments 32 Social Responsibility F Customer satisfaction and claims management Charter Respecting and protecting customers’ interests/personal G data, cyber security

H Ethics, integrity, preventing fraud and corruption

I Preventing over-indebtedness S Corporate governance - Audit and internal control U J mechanisms S T Sustainable finance - Positive Impact finance - SRI (socially A K responsible investing) I R N E L Initiatives promoting occupational wellbeing A P B O Responsible business conduct – Suppliers’ CSR/Respecting M I R suppliers’ interests L T I Occupational health, safety and wellbeing N T Reducing direct negative impacts - Environmental Y O management

Respecting and promoting fundamental human rights in P society - health, education, access to basic social services

Helping eliminate child labour from the supply chain and Q in society - Social engagement: Medersat.com educational programme BMCEMCE Bank Foundation, a key player in promoting accesss to educaeducationtion in Morocco

BMCE Bank Foundation for Education and the Environment has forged a reputation as a ‘progressive laboratory’ for Morocco’s education system by focusing on education in rural communities through its unique Medersat.com school program.

Medersat.com schools benefit local communities as learning landscape as well as an environmental enabling economic and cultural development for the entire community, while taking into account cultural and ecological features specific to local communities.

PAGE 22/23 BMCE BANK FOUNDATION

Review of BMCE Bank Foundation’s action

230 hours/year of in-company training for teachers in a variety of disciplines (languages/ sciences/pre-school) 22 000 pupils schooled, Agreements entered into 50% of whom are with 7 regional education girls, and high school authorities to deliver diplomas awarded to pre-school education 1 465 students since in fully-equipped state 2012 schools

BMCE Bank Foundation’s operations in sub-Saharan Africa bolstered, bringing the total number of schools to 6, in Senegal (2), Congo-Brazzaville, Mali, 500 teachers, 48% BMCE BANK Rwanda, Djibouti and 1 of whom are female, FOUNDATION socio-educational centre in receiving support and Senegal encouragement

S U S T A I R N E More Medersat.com schools A P awarded the Eco-School label B O I R 62 schools providing from the Mohammed VI L T a pre-school and Foundation for Environmental I primary education Protection, bringing the total T Y to approximately number of Medersat.com 10 400 pupils from schools designated as Eco- socially disadvantaged Schools to 25 backgrounds BMCE BANK FOUNDATION

‘ECO-SCHOOLS’ ENVIRONMENTAL PROGRAMME

As part of the ‘Eco-schools’ programme, a partnership agreement was signed in May 2017 for a 3-year period between the Mohammed VI Foundation for Environmental Protection and BMCE Bank Foundation.

Under the terms of this partnership agreement and during the 2017-2018 academic year, 9 additional schools were awarded the ‘Eco-School’ label from the Mohammed VI Foundation for Environmental Protection, bringing the total number of Medersat.com schools designated as Eco-Schools to 25.

The fact that these 9 new schools were awarded the ecolabel was due to the support provided by those in charge of the Mohammed VI Foundation to Medersat.com network school directors, as well as the support received from the Medersat.com programme’s management.

PAGE 24/25 BMCE BANK FOUNDATION

ACADEMIC RESULTS AND ANNUAL APPRAISAL

During the year, a training session was organisedganised for the directors of Medersat.com network schoolsschools to raise awareness about the importance of the ‘Eco-Schools’ programme and the educationalational implications and benefits to future generationsns from encouraging eco-friendly behaviour.

Practical training workshops organised for 600 or so network directors about new educational technologyhnology proved to be another highlight. The directorsors will have to pass on what they learnt during these trainingtraining sessions to all network school teachers. Theyey were 93.73% also provided with materials to help them dedeepenepen PASS RATE FOR GIRLS their understanding.

As an adjunct to the meeting to review the academicademic S results for the 2017-18 academic year, a mmeetingeeting U S was held in Rabat in July 2018 with the directors T and supervisors of Medersat.com schools to discuss A pupils’ results and make preparations for the new Average pass rates for the I R academic year beginning in September 2018. Medersat.com network N E A P B O I R L T I T 95.81% Y AVERAGE PASS RATE BMCE BANK FOUNDATION

PARTNERSHIP DEVELOPED Morocco (IFM). A sample of 20 schools were taken, involving nearly a thousand Medersat.com network NEW PARTNERSHIP AGREEMENT SIGNED pupils. The results revealed some shortcomings in BETWEEN BMCE BANK FOUNDATION AND how French was being taught. In order to remedy this, THE MINISTRY OF NATIONAL EDUCATION the IFM proposed a number of training initiatives for teachers to be included in the 2018-2019 action plan. In May 2018, an agreement was concluded in Rabat between Dr Leïla Mezian Benjelloun, BMCE Bank In addition, the ‘Media Scol 2018 Competition’ was Foundation’s Chairperson, and Mr Saaid Amzazi, launched, involving 10 Medersat.com network schools. Minister of National Education, Vocational Training, This contest aims to improve pupils’ French language Higher Education and Scientific Research. skills in a fun way by creating a blog or a website containing work assignments or activities carried out This latest agreement incorporates some of the main by pupils under their teachers’ supervision. This first aspects of the 2015-2030 vision and initiates a new edition was won by the Bouskoura Medersat.com cooperation programme between the two parties, School. One of the school’s teachers will be chosen particularly in the field of pre-school education. Other to participate in a week-long training programme in measures focus on aspects relating to implementation Nice, France, and will be invited to present the project so as to create an environment that is conducive to at a symposium. managing the partnership efficiently.

PARTNERSHIP WITH THE CULTURAL SERVICES DEPARTMENT OF THE FRENCH EMBASSY TO MOROCCO

As part of a partnership agreement between the cultural services department of the French Embassy to Morocco and BMCE Bank Foundation, an assessment of pupils’ French language skills was conducted in May 2018 by the French Institute of

PAGE 26/27 BMCE BANK FOUNDATION

EXPLORING SUITABLE LOCATIONS TO SET UP DOCUMENTARY RESOURCES OF PRE-SCHOOL UNITS WITHIN STATE SCHOOLS MEDERSAT.COM NETWORK SCHOOL LIBRARIES BOLSTERED In May 2018, a cooperation agreement was signed between the Ministry of National Education and In 2018, additional documentary resources were BMCE Bank Foundation aimed at setting up 120 acquired for Medersat.com network school libraries. integrated pre-school units within state schools as well as assuming responsibility for managing and fitting To encourage students from the Medersat.com out classrooms and sanitary facilities. network to read more, the Foundation, in partnership with Le Bouquin Volant, a French charitable On the occasion of the National Pre-school organisation, donated 4,350 new books, including Education Day organised under the High Patronage encyclopaedias and dictionaries, to Medersat.com of His Majesty King Mohammed VI by the Minister network schools. of National Education in partnership with BMCE Bank Foundation and UNICEF, Mr Saaid Amzazi and Dr Leïla Mezian Benjelloun signed a framework implementing agreement governing the partnership and the specific conventions adopted under the first phase of the ‘Integrated Pre-School Units’ S programme with the directors of the 7 Regional U S Academies for Education and Training. T A I R N E A P B O I R L T I T Y BMCE BANK FOUNDATION

EXPANSION AND RENOVATION The school will be located in a village built by the IOG Housing Foundation MEDERSAT.COM NETWORK EXPANDED IN SUB-SAHARAN AFRICA, DJIBOUTI As well as funding the school’s construction costs and fitting it out, the Foundation will share with its To bolster its presence in sub-Saharan Africa, BMCE partner-school the experience gained as part of Bank Foundation plans to set up a Medersat.com the Medersat.com programme in setting up and school in Djibouti. As a result, Dr Leïla Mezian managing community schools in rural areas. Benjelloun, BMCE Bank Foundation’s Chair and Mrs Kadra Haïd, Director of the Ismail Omar Guelleh (IOG) Housing Foundation and First Lady of Djibouti, opened discussions about setting up a Medersat.com school in Djibouti in 2019.

PAGE 28/29 BMCE BANK FOUNDATION

ONGOING PROGRAMME TO ENHANCE AND RENOVATE MEDERSAT.COM NETWORK SCHOOLS

Geographic location of Medersat.com schools benefiting from the programme

BAGHDOUR SCHOOL (TANGIER PROVINCE)

OULED AYYAD SCHOOL (SIDI KACEM PROVINCE) IMMOUZZER MARMOUCHAS SCHOOL (BOULEMANE PROVINCE) S U S T AIT IKTEL MEDERSAT.COM A SCHOOL (EL HAOUZ PROVINCE) I R OUED IFRANE SCHOOL N E AND TIMAHDITE SCHOOL A P (IFRANE PROVINCE) B O I R L T I T Y

CréationNEW d’une SCHOO écoleL PLANNEDà Djibouti IN DJIBOUTI Dialogue with stakeholders, a practice embedded in BMCE Bank of Africa’s vision

PAGE 30/31 DIALOGUE WITH STAKEHOLDERS

MOHAMMED VI FOUNDATION FOR ENVIRONMENTAL PROTECTION – CLEAN BEACHES PROGRAMME A new agreement (2018-2021) was signed between the Mohammed VI Foundation for Environmental Protection, BMCE Bank of Africa and El Harhoura Municipality, to which Skhirate Municipality, Temara, and the General Directorate of Local Authorities have been added. The aim is to develop a programme of initiatives over a number of years based on Blue Pavilion Label criteria, which has become a benchmark. As a result of a meeting held before the start of the BMCE Bank of Africa’s contribution to the season, a list of beaches was drawn up as well as goals of the Clean Beaches 2019 programme: recommended activities. This new agreement concerns Temara Beach, Sable d’Or and Sid El Abed. 1 million youth mobilised

10 000 youth engaged in environmental initiatives S U S T A I R 700 N E A P ton reduction in B O I R plastic waste L T I T Y DIALOGUE WITH STAKEHOLDERS

The AEA Programmes’ 15 guiding principles:

FUNDAMENTAL BELIEF THAT 1 ENTREPRENEURSHIP IS THE SOLUTION TO THE PROBLEM OF UNEMPLOYMENT

FOCUSE ON TWO MAJOR ASPECTS - INNOVATION 2 AND SPORT

INVESTING IN TECHNOLOGY - AEA REQUIRES THE BUSINESS PROJECT TO HAVE A 3 TECHNOLOGICAL COMPONENT WITH AN EMPHASIS ON GENERATING ADDED-VALUE

4 PANAFRICAN & DIASPORA REMITS

MENTORING & PARTNERSHIP, ONE OF THE THE AFRICAN ENTREPRENEURSHIP 5 PROGRAMME’S KEY SUCCESS FACTORS AWARD

CONTRIBUTION FROM VOLUNTEER The AEA programme, entirely consistent with the 6 MENTORS Group’s forward-looking vision and its longstanding eco-responsible approach, underlines the role played by entrepreneurship as well as the Group’s desire to 7 BUILDING AN ECO-SYSTEM AROUND foster its development in Africa. ENTREPRENEURS

With the Bank allocating an annual budget of USD PROCESS TRANSPARENCY (4 PHASES) 1 million, the African Entrepreneurship Award 8 symbolises the importance that BMCE Bank of Africa places on the continent’s economic development. Its goal is to promote projects that make a social, 9 DIGITAL PLATFORM environmental or sustainable impact.

CONTINUOUS LEARNING PROCESS - 10 EXPERIENCE

DIAMOND LOGO - VALUE-ADDED AND 11 POTENTIAL

TEAM-BASED AND USER-FRIENDLY 12 APPROACH (BOOT CAMP)

INTERNATIONAL STANDARDS 13 (ASSESSMENT CRITERIA DRAWN FROM REFERENCE SOURCES)

INVOLVEMENT AND CONTRIBUTION BY BMCE 14 BANK OF AFRICA GROUP’S STAFF TO THE PROGRAMME (ON-SITE VISITS ETC.)

YOUTH AND BUSINESSES ABLE TO ACQUIRE 15 INNOVATIVE KNOW-HOW ABOUT BANKING SERVICES IN AFRICA

PAGE 32/33 of Award-winners supported mOBODJBMMZ BEWJTFEBOENFOUPSFE

More than

jobs created 142 Since COUNTRIES

54AFRICAN new customers COUNTRIES Annual turnover

ENTREPRENEURS

NEW CUSTOMERS PARTNER- AWARD-WINNING JOBS CREATED MENTORS BUSINESSES

USD million of prize-money awarded S U increase S in annual T A turnover I R N E A P B O I R L T I T Y DIALOGUE WITH STAKEHOLDERS

5 671 students involved

105 universities, schools and colleges

More than 390 deal-flow project ideas

More than 240 projects implemented

More than ENACTUS 45 partners Enactus, which has been supported by BMCE Bank of Africa since it was founded, strives to promote More than social entrepreneurship and sustainable development. events Enactus is an international organisation which 30 develops partnerships between higher education and the business world. Enactus Morocco now has 119 More than affiliated institutions. 500 professionals involved BMCE Bank of Africa participates in the annual Enactus Morocco competition as a member of the jury and helps identify those entrepreneurial projects More than with the greatest potential. These projects then qualify 150 000 for Enactus’ international competition. volunteer hours

More than 250 000 beneficiaries since 2003

More than 40 businesses set up since 2015

More than 65 business projects supported since 2015

PAGE 34/35 DIALOGUE WITH STAKEHOLDERS

THE MOROCCAN FOUNDATION FOR EDUCATION AND EMPLOYMENT (EFE)

The Moroccan Foundation for Education and Employment (EFE), which aims to promote the employability of young job seekers by providing them with the requisite skills and opportunities, celebrated its 10th anniversary in 2018 with more than 46 130 youth impacted.

12 650 youth supported 2018 51% of whom were women 88% of those enrolled found a job

EFE-Morocco also pursued its social inclusion strategy by supporting people with disabilities, in conjunction with AMH Group, as well as offering socio-professional support to refugees, in partnership with the Office of the United Nations High Commissioner for Refugees.

On the occasion of its anniversary, EFE-Morocco put on a theatrical show in conjunction with the troupe 19H Théâtre, entitled Khedmouni, which dealt with the theme of youth employability in an artistic, humorous and tongue-in-cheek manner. S U S T A I R N E A P B O I R L T I T Y A Societal commitment focust on social impact, to better meet community expectations

PAGE 36/37 CSR FOR SOCIAL IMPACT

VIVEZ L E CINEMA AVEC BMCE BANK OF AFRICA

PARTENAIRE PRIVILÉGIÉ 12ÈME EDITION DU FESTIVAL INTERNATIONAL DU FILM DE FEMME S DE SALÉ

DU LUNDI24 AU SAMEDI 29EPTEMBRE S À SALÉ

GROUP COMMUNITY-BASED INITIATIVES PHILANTHROPIC INITIATIVES AND SPONSORSHIP BOA Senegal BMCE Bank of Africa Group is committed to promoting inclusive development. Training for One of the Group’s priorities is to maintain a delicate balance between cultural, business, social, 338 midwives environmental and sporting pursuits. As a result, its commitment is underpinned by a cross-curricular in 5 cities in Senegal approach. as part of a campaign to combat cervical cancer

BOA Burkina Faso Social events: S Planting of U S T million Ouagadougou A Cultural events: I R shrubs N E 6 Manga A P on secure sites equipped B O with a wellbore I R Business events: L T I T Y

13 March 2018 Sports events: « Supporting Women Entrepreneurs in Morocco » Philanthropic and social initiatives:

Ǎ””•›”‰‹“‹”š•ŒšŽ‹’‡›”‰Ž•ŒšŽ‹ǻ”Š–˜•“•š•”•ŒšŽ‹ SME Club dedicated to women Ǎ‡˜ŠŒ•˜šŽ‹Œ˜™š‰’‡™™•ŒšŽ‹•“‹”Ƶ™’›ˆ Ǎ””•Œ‡–‡˜š”‹˜™Ž–‡˜‹‹“‹”ššŽ š•Œ‹Š‹˜‡š‹ women entrepreneurs around a dedicated financing solution Leveraging strong social cohesion within human capital to boost performance

PAGE 38/39 HUMAN CAPITAL

‘Top Employer 2019’ Certification awarded by Top Employers Institute, a global certification organisation, in recognition of excellence in HR practices

OCCUPATIONAL HEALTH, SAFETY AND 1ST GROUP SOCIAL BAROMETER WELLBEING, GUARANTOR OF SOCIAL CARRIED OUT COHESION WITHIN HUMAN CAPITAL WORKPLACE ENVIRONMENT MEETING EMPLOYEES’ EXPECTATIONS 1st BMCE Bank of Africa SA saw its certification renewed Group Social Barometer for the second consecutive year by Top Employers Institute, a global certification company recognising excellence in the working conditions that employers 64% create for their employees. participation rate

This distinction provides just recognition of the ongoing investment made by BMCE Bank of Africa in human capital. 64,5% satisfaction rate among Group employees In 2018, the Group embarked on a first initiative which S U involved carrying out a preliminary pre-screening of S its various business entities on the African continent T against the Top Employers Institute’s reference criteria, A I R so as to be fully prepared for the certification process INTERNAL SATISFACTION SURVEYS N E at continental level by 2020. A P Employee perception is also measured in respect of B O ad hoc initiatives so as to best meet their expectations I R L T about events that have been specifically organised I for them. T Y HUMAN CAPITAL

Vacation center satisfaction survey INITIATIVES AIMED AT PROMOTING A POSITIVE SOCIAL CLIMATE

Fifty or so agreements, particularly with property developers, have been signed benefit employees.

As usual, BMCE Bank of Africa Club organised a 86% series of cultural and sporting activities for employees’ children such as the School of Music, collective sports satisfied overall with the stay activities and several open-air fitness marathons (120 participants). The Bank continued to extend credit satisfied overall with the to employees to cover their needs, disbursing MAD % stay vs. 88% in 2017 86 287 million in property loans and MAD 162 million of summer vacationers appreciated in consumer credit. The pilgrimage support campaign the quality of service received 84% enabled 27 employees to benefit from MAD 0.8 positive view overall million to cover the related costs. 90% about the apartments Similarly, to the Solidarity Fund provided financial of summer vacationers satisfied support BMCE Bank of Africa staff amounting to 72% with the atmosphere around the centres MAD 9 million, with just under MAD 2 million in scholarships and grants for higher education and more than MAD 3 million in death benefits. Satisfaction survey for summer camps and outdoor centers

100%

satisfied overall with the stay

satisfied with the professionalism 97% of activity leaders

of respondents appreciate 97% the quality of the programme

satisfied with the quality 96% of activities

of respondents dissatisfied 27% with the quality of the food

PAGE 40/41 OCCUPATIONAL HEALTH AND SAFETY

PROFICIENT MANAGEMENT OF OCCUPATIONAL HEALTH AND SAFETY st RISKS 1 Moroccan This certification gives credibility to the Bank’s commitment to social responsibility on the issue Bank to be of working conditions. The aim is to create a safe certified workplace environment by preventing risks relating in relation to the health and safety of every person at their place to occupational health, of work. safety and wellbeing

In 2018, several programmes were conducted by the Bank to protect employees’ physical and mental health.

S U S T A I R N E A P B O I R L T I T Y OCCUPATIONAL HEALTH AND SAFETY

A specialiscialised platform for Commumunications framework managingm potential for preventing p and managing emergenciesemer and training to be physical and verbal aggression able to respond to such situations

Environmenronment, Programme for preventingpre healthth andan safety (EHS) musculoskloskeletal disorders programme

To ensure safety and protect Resulting from screen work: the environment when work workshops and specialised is sub-contracted. medical check-ups.

Preventingting psychosocialp risks (PSR)

Action-based programmes providing support, recognition, empowerment, as well as personal and professional life balance for bank branch network employees.

PAGE 42/43 HR PROCESSES

WORKPLACE ENVIRONMENT AND HR PROCESSES ENABLING THE GROUP TO LEVERAGE COLLECTIVE EFFORT

AUTONOMOUS AND FULFILLED HUMAN CAPITAL

An ‘HR process improvement’ project was initiated in conjunction with Group Human Capital. This consisted in carrying out an efficiency assessment as well as a study to measure the extent to which HR benefits have an impact on BMCE Bank of Africa’s employees, in terms of recruitment, mobility and career management. The first ‘HR Process Review’ project was conducted during third quarter 2018 using a Failure Mode, Effects and Criticality Analysis (FMECA) solution.

INTERNAL MOBILITY AS THE MAIN RECRUITING TOOL

1,291 internal transfers were recorded in 2018, involving 24% of the Bank’s workforce, which resulted in either a change in business line or post, including sideways moves and promotions.

20% OF MANAGERIAL STAFF

Training provided S U to staff in 2018 S T A I R N E A P B O I R L T I T 14% Y OF OPERATIONAL STAFF 63% OF SUPPORT STAFF HR PROCESSES

SKILLS DEVELOPMENT HUMAN RESOURCES, HEAVILY INVOLVED IN DAY-TO-DAY OPERATIONS AS BUSINESS A total of 12 301 training days were delivered in 2018, PARTNER involving 36% of the Bank’s staff. The bulk of training initiatives, nearly 56%, focused on helping staff adjust In 2018, a large number of projects were initiated to their new position within banking businesses (18%) by the Human Resources Department in response or in a managerial capacity (12%). Also, more than to the strategic challenges that it was facing. HR 200 employees took e-learning courses. The annual convergence initiatives focused on developing satisfaction rate averaged 90%. the Group aspect in HR practices by actively participating in the various HR convergence projects Launched in 2016, the Certified Internal Auditor (CIA) (Social Barometer, Group Social Policy, etc.). programme is being implemented in conjunction with the Institute of Internal Auditors for 17 auditors across In addition to these cornerstone projects, the the Group. A corresponding exam is planned for 2019. HR Development and Internal Communications Development Department continued to fulfil its 2018 also saw the launch of the second phase of the existing responsibilities throughout the year, which Bongwana scheme, which was initiated in 2016 in consisted of (i) recruiting 45 employees, including conjunction with LCB Academy for 69 employees. 3 outside Morocco (ii) promoting internal mobility This programme aims to develop a managerial culture with 9 internal transfers and (iii) developing the skills at Group level. of BMCE Capital employees by organising as many as 20 training initiatives for a total of 81 employees. A new programme was initiated in 2018 for 17 of the Group’s Senior Permanent Controllers (BOA, LCB, Moroccan subsidiaries and BMCE Bank of Africa). Another programme being implemented is the Banking Compliance Management programme for 20 employees from sub-Saharan subsidiaries and BMCE Bank of Africa SA (1 module per month over 4 months).

A French-speaking Human Resources Management certification programme, run in conjunction with ESSEC for about twenty of the Group’s HR managers, was also finalised.

PAGE 44/45 HR PROCESSES

CASE STUDY: BOA IVORY COAST

1500 1400 110 1300 1200 100 110 1100 90 100 1000 80 90 900 70 80 800 60 70 700 60 600 50 50 500 56% 44% 40 40 400 30 300 30 20 20 The number of training actions 200 10 10 The number of cumulative participants in training 100 13 20 105 0 0 Women Man 0 2013 2014 2015 2016 2017 2018 2016 2017 2018

Trend in training-related indicators Breakdown of managerial positions Trend in indicators relating to between 2013 and 2018 by gender employees’ internal mobility between 2016 and 2018

GENDER Mainstreaming Gender and Inclusion EQUALITY AND within business practices INCLUSION POLICY FORMALLY ADOPTED IN 2018 PERCENTAGE OF WOMEN IN MANAGERIAL POSITIONS S U PERCENTAGE S 28,4% T OF FEMALE STAFF A IN 2018 I R N E A P 39,4% B O I R L T IN 2018 I T Y Leveraging our ‘know-how’ capital to expand sustainable opportunities

PAGE 46/47 EXPANDING SUSTAINABLE OPPORTUNITIES

POLITIQUE GENERALE Risk control and management ANTI-CORRUPTION system contributing to overall performance

RISK MANAGEMENT BOLSTERED THROUGH SPECIALISED AUDIT AND CONTROL MECHANISMS

CONVERGENCE PROGRAMME AND GROUP GENERAL CONTROL COMMUNITY IMPLEMENTED

In 2018, implementation of the Group General Control Convergence Programme was completed across the Group’s 26 subsidiaries.

Another highlight of the year was the Ad Hoc Control Community’s 3rd annual seminar on the theme of ‘A Vision and Common Values for Fostering Excellence’. During the seminar, plenary sessions and workshops were led by international experts and in-company speakers, dealing with issues such as the information required when reporting back to the Audit Committee and the Board of Directors, measuring the effectiveness and efficiency of internal audits, managing fraud and the importance of leadership in ENVIRONMENTAL AND SOCIAL ASPECTS establishing internal audit values. INCORPORATED IN RISK MANAGEMENT

GROUP GENERAL AUDIT ISO 9001 Sustainability and CSR issues lie at the very heart CERTIFIED of the operational risk management system, which is focused on identifying, evaluating, managing and The renewal audit carried out in June 2018, marking steering operational risks. the transition to the 2015 version of ISO 9001 certification of internal audit processes, was an This system therefore enables the Group to manage unmitigated success. Certification was renewed with and mitigate every type of risk relating to its CSR a score of zero deviation, zero areas of weakness undertakings. S and positive feedback on a dozen or so attributes. U These results fully underline the efforts made by Steering Sustainability & CSR and monitoring S the Bank to maintain its position as a multi-business implementation of remedial action plans when T leader in Group General Audit and its commitment A confronted by critical risks, is carried out by quarterly I R to operating in accordance with international best operational risk monitoring committees held at N E practice and standards. Group level. A P B O I R As far as credit risk is concerned, criteria for appraising L T environmental and social risks have been included in I T the overall counterparty appraisal form as part of the Y credit approval/renewal process. EXPANDING SUSTAINABLE OPPOR- TUNITIES

SUSTAINABILITY RISKS AUDIT ESG risk management system commensurate with global standards Sustainability aspects are now an integral part of Group General Control’s remit. ESG RISKS

General Control, through the Group Internal Audit BMCE Bank of Africa has had a strong ESG strategy Department, as a trusted advisor and business support and an Environmental and Social Management System agent contributing proactively to the value-creation (ESMS) for more than 10 years, in conjunction with the process, conducted a due diligence in 2017 in support of IFC. The ESMS was initially implemented by BMCE initiatives carried out by different business units for the Bank of Africa before being subsequently deployed purpose of implementing these aspects. within a number of Group subsidiaries.

In 2018, the action plans that resulted from the 2017 Since 2018, through its involvement with multilateral audits were implemented in preparation for the next lenders and, within the framework of its Sustainability scheduled audit in 2019. and CSR Charter, BMCE Bank of Africa has endeavoured to bolster its ESG risk analysis framework, inspired by Sustainability and CSR issues now fall within the scope UNEP FI’s Positive Impact Finance working group. It has of the Bank’s Internal Audit Division and are regularly made progress in implementing an impact-management audited. approach.

CHALLENGES SURROUNDING THE NEW ESG RISK APPRAISAL SYSTEM

Ensure that all submitted Optimise and simplify solutions loans are appraised for analysing and rating environmental and social risks (E&S)

Incorporate the Positive Develop employees’ skills Impact (PI) approach in addition and expertise in analysing to the risk-based approach loans’ E&S and Positive Impact

PAGE 48/49 EXPANDING SUSTAINABLE OPPORTUNITIES

EQUATOR PRINCIPLES UNDER THE BREAKDOWN OF PROJECTS FUNDED BY SPOTLIGHT BMCE BANK OF AFRICA BY CATEGORY

These Principles are regarded as a risk management framework for determining, assessing and managing environmental and social (E&S) risks in funded projects. A : Projects with significant adverse environmental and social risks and/or impacts that are diverse, The Bank applies the following 10 principles when irreversible or unprecedented funding projects of USD 10 million or more: B : Projects with limited adverse environmental and social risks and/or impacts that are few in number, generally site-specific, largely reversible and readily Review addressed through mitigation measures. and Categorisation Environmental and Social Assessment C : Service company projects with minimal or no adverse environmental and social risks and/or impacts. Reporting and Transparency Applicable Environmental 1 2 and Social Standards 10 3 Environmental Independent & Social Management 1 Monitoring System and Equator and Reporting 9 4 Principles Action Plan 4 8 5 Covenants Stakeholder 6 7 6 Engagement Corporate Finance

Independent Grievance Review Mechanism 2

S U 15 S T 30 A I R N E A P B O I R SMEs L T I T Y 3

21 34

TOTAL EXPANDING SUSTAINABLE OPPORTUNITIES

Sophisticated mechanisms for A PROACTIVE APPROACH TO COMPLYING preventing corruption, combating fraud WITH CURRENT STANDARDS, LEGISLATION and AML/CFT AND REGULATIONS STRIVING FOR EXCELLENCE IN ANTI-MONEY LAUNDERING AND CUSTOMER RELATIONS AND FAIR COUNTERING THE FINANCING OF BUSINESS DEALINGS TERRORISM (AML/CFT) In 2018, the Bank initiated a project to ensure With the regulatory environment constantly evolving, compliance with FATCA (US legislation aimed at Group Compliance is faced with the ongoing task of detecting and deterring tax evasion by US taxpayers) having to improve its AML/CFT system by upgrading in the wake of the Government Council adopting, AML/CFT-related procedures and revamping in February 2018, Decree-Law No. 2-18-117 relating its control/customer profiling strategy to enhance to adoption of transitional provisions regarding the customer transaction monitoring. In addition, a automatic exchange of information for tax purposes. number of awareness-raising and training initiatives were regularly organised for Bank employees. • A committed approach by the Group: as part of its commitment to its ‘Convergence’ programme, Preventing fraud and corruption: fraud prevention is Group Compliance continued its ongoing work first and foremost the responsibility of operational on all aspects of Compliance (AML/CFT, FATCA, and functional entities and their supervisors. The preventing corruption, ethics and professional fraud prevention system established by the Group is conduct, preventing conflicts of interest etc.). A based on developing an attitude of vigilance as to consistent and gradual approach was taken by all the risk of fraud, identifying different types of fraud, BMCE Bank Of Africa Group entities. frequently appraising fraud risk, incorporating fraud risk within operating systems, implementing employee • Ethics and professional conduct: ethical management policies aimed at bolstering fraud considerations are an integral part of the Group’s prevention and informing staff about any penalties day-to-day business operations and activities. Its incurred. commitment to upholding ethical standards goes beyond simply complying with regulations. It ensures that a genuinely ethical culture exists in every business, entity and ecosystem with which the Group interacts. The Group’s success ultimately depends on the behaviour of each employee.

PAGE 50/51 Group Compliance also embarked on an initiative to study the impact from introduction of the European Union’s General Data Protection Regulation (GDPR) on the Bank’s processes.

The programme was fully implemented by 23 subsidiaries, which also received assistance and support on a number of issues, including the Group- wide FATCA project, that enable eligible entities to comply with the requirements of this legislation.

BMCE Bank of Africa is also implementing an Anti-Corruption Management System (ACMS) that comprises a certain number of policies, procedures and processes aimed at effectively preventing and combating corruption. The general policy put in Close monitoring is carried out to ensure that rules place specifies the context and goals relating to of proper conduct are adhered to by internal and implementing the anti-corruption management external resources – service providers, temporary staff system, sets out its scope of application and defines and interns. Training and awareness initiatives relating what exactly is meant by corruption. It also describes to ethics and professional conduct are regularly how to report cases of corruption, the role played organised for staff by Group Compliance. by Compliance in managing the anti-corruption management system, the training, awareness-raising The Group’s success depends on the behaviour of and communication initiatives to be adopted as well each employee. Group Compliance is responsible for as the principle of prohibiting acceptance of any establishing the ethical principles adopted by BMCE type of gift in compliance with the Gifts and Benefits Bank of Africa Group that underpin its Code of Ethics Policy. The ACMS is also underpinned by a number and Rules of Proper Conduct and Gifts. of measures such as a whistle-blowing procedure, a corruption risk-mapping process, anti-corruption • Preventing, detecting and managing conflicts of clauses inserted into contracts, a Responsible interest: this system embraces the fundamental Purchasing charter and a training plan. principle of putting customers’ interests first.

And it comprises a number of dedicated policies for S preventing (policies, internal procedures), detecting U (whistle-blowing, declaring conflicts of interest) and S managing conflicts of interest (internal committees, T A management rules). I R N E • Personal data protection: in 2018, Group A P B O Compliance continued to improve the existing system I R to ensure compliance with regulatory requirements L T regarding personal data protection including criteria I T for processing personal data and respecting the rights Y of the persons in question when processing and transferring their data and supervising the exchange of data with various partners. Leveraging ‘commitment’ capital to adapt to environmental challenges

PAGE 52/53 ADAPTING TO ENVIRONMENTAL CHALLENGES

In-house initiatives capitalising CO2 emissions per employee have fallen by 5.84% on BMCE Bank of Africa’s strong between 2015, the base year, and 2018. environmental conscience GHG emissions were calculated in accordance with ISO 14064-1 and 14069 standards and with the help of the GHG assessment solution adopted LEVERAGING ‘COMMITMENT’ CAPITAL in 2013 by the Mohammed VI Foundation for TO ADAPT TO ENVIRONMENTAL Environmental Protection, which is modelled on the CHALLENGES carbon assessment method developed by the French Environment and Energy Management Agency BMCE Bank of Africa is the only Bank in Morocco (ADEME). and the MENA region to be awarded ISO 14001-certification for its entire operations. BMCE Carbon footprint (t CO2 e / employee) Bank of Africa’s ISO 14001 certification was renewed in 2018, on the basis of the more recent 2015 version, 5,60 by Bureau Veritas Certification. 5,50 5,48% Energy savings of 14% 5,40 or about MAD 1 million in 2018 as part of the ISO 14001 - ISO 50001 5,30 -5,84% certification process 5,20 5,16% 5,10 5,06%

5,00 BMCE BANK OF AFRICA CARRIES OUT A -8% +2% 3RD ENERGY AUDIT OF ITS BUILDINGS 4,90 4,80 As part of the process of maintaining its ISO 2015 2016 2018 50001-certified energy management system and consistent with its environmental undertakings, BMCE Bank of Africa conducted an energy audit in

2018 to measure current energy consumption and Reduction of more than 250,000 tCO2 update data as a result of its energy review. in 2018 due to the waste recycling programme and the use of videoconferencing

BMCE BANK OF AFRICA CARRIES OUT A S U CARBON ASSESSMENT FOR THE 3RD TIME Total surface area 2 S More than 32,000 m T of buildings ISO 50001-certified Since 2015, BMCE Bank Of Africa has voluntarily A conducted an inventory of its greenhouse gas I R (GHG) emissions in order to measure and monitor N E A P its environmental impacts as part of a structured B O approach. I R L T I In 2018, BMCE Bank Of Africa carried out its carbon 2018 T assessment for 2018 with reference to the main %DQNHUV·$&%X\HUV &OXE Y categories of Scope 1, 2 and 3 direct and indirect emissions. The latter primarily relate to different types of energy consumption, investments and leased assets, purchases, transportation and distribution, Ǎ‡”‘•ŒŒ˜‰‡‡™”œš‹ŠƧ‡’•”™Š‹•˜•‰‰‡”‡”Š ”š‹˜”‡š•”‡’–‡˜š”‹˜™Ƨš••”šŽ™‰•’’‹‰šœ‹ˆ›’‘ˆ›Ÿ‹˜™Ƶ‰’›ˆƧ business travel product life cycle. Ž‰Ž‡“™š•“‡‘‹‡™š˜•”’Ÿ–•™šœ‹“–‡‰š•”•˜•‰‰•ƧšŽ‹ Œ˜‰‡”‰•”š”‹”š‡”ŠšŽ‹–’‡”‹šƪ

In terms of results, the carbon assessment for 2018 Ǎ’•š–˜•‹‰š’‡›”‰Ž‹ŠŒ•˜Œ˜‰‡‡“‹Š‡š™‹‰›˜”‡‰‰‹™™š• was more comprehensive and underlined the Bank’s šŽ‹“‡˜‘‹šŒ•˜”‹žšƬ‹”‹˜‡š•”Ƨ™›–‹˜Ƭ‹ŒŒ‰‹”šƧ‰•™šƬ‹ŒŒ‹‰šœ‹ ‡˜Ƭ‰•”Šš•”‹˜™šŽ‡šŽ‡œ‹‡’•“–‡‰š•”šŽ‹• •”‹’‡Ÿ‹˜‡”Š efforts to protect the environment as part of the ‰’“‡š‹ƪ Environmental and Energy Programme initiated by the Bank through ISO 14001 and ISO 50001 certification. BMCE Bank of Africa committed to developing sustainable and Positive Impact Finance

PAGE 54/55 POSITIVE IMPACT FINANCE

 20“’’•” E n Ȭ”‡”‰”Œ‡‰’šŸ R e  “’’•” e r 55 y n g m e y ˜‹‹š‹‰Ž”‰‡’‡™™™š‡”‰‹Œ˜•“‰•”™›’š” o w n e a f Ȭ˜“™Œ˜‰‡’“‡š‹•’›š•”™ǐǑ o b Å c l e e c ‡”Š‡›žŠ‹‡˜™‹’’‹ i e e e n n u e l r c •˜˜•”˜‡š‹Š™‰•›”š‹Š B g y ˆŸȂǹˆ‡™™–•”š™ y  500“’’•”

Cir cular economy

˜‹‹š‹‰Ž”‰‡’‡™™™š‡”‰‹Œ˜•“ •˜˜•”˜‡š‹Š™‰•›”š‹ŠˆŸ •”™‹’ ”‹”‹˜‹ ‹š‹œ‹’•––‹“‹”šǐ Ǒ ˆ‡™™–•”š™

29 June 2018 The KHALLADI Wind Park

S ǍǺǻǹ•Œ”™š‡’’‹Š‰‡–‡‰šŸ U ǍǺƪȀˆ’’•””œ‹™š“‹”šˆŸšŽ‹‡”Š–˜œ‡š‹Œ›”Š™ǐƧ Ƨ Ǒ S T Ǎ ”‡››˜‡’Ȭ”‡”‰”•Œ˜‹”‹‡ˆ’‹‹”‹˜ŸˆŸšŽ‹”•˜•‰‰•ƪ A I R N E A P B O I R L T I T Y POSITIVE IMPACT FINANCE

INCREASED CAPACITY SUSTAINABLE FINANCE OFFERS WITH POSITIVE IMPACT The Corporate Marketing Department, in partnership with the Investment A market leader, BMCE Bank of Africa works closely with its domestic and international partners to finance and Structured Finance Department, the green and blue economy. organised training sessions for the sales force in conjunction with consulting Sustainable and positive impact finance products offer firms African Climate Solutions (ACS) attractive rates of interest in addition to free technical assistance to enable customers to assess the technical, and Conseil Ingénierie et Développement financial and environmental feasibility of the funded (CID). projects as well as advice and recommendations to ensure that the project is a success. The purpose of these training sessions was to develop business managers’ expertise in positive impact finance products and to expand their sales pitch vis- à-vis customers. BMCE Bank of Africa's Green Bond - an approved Positive Impact Bond - MAD 500 million of outstandings The sessions were organised for various regions, Certified as meeting Green Bond Principles including Casa North, Casa South, Atlantic, Southern, ‘Second Party Opinion’ by Vigeo Eiris and the CAC Greater Southern, Central, Northern, and Eastern regions.

Positive Impact Finance aims to take a holistic approach and deliver a positive contribution to one or more of the three pillars of sustainable development (economy, environment and social), once any potential negative impact on one of the pillars has been duly identified and mitigated.

PAGE 56/57 POSITIVE IMPACT FINANCE

BENEFITING FROM THE PERFORMANCE OF MOROCCO’S FIRST SRI FUND INVESTING IN SOCIALLY- RESPONSIBLE STOCKS

FCP Capital ISR, the first SRI fund in Morocco launched by BMCE Capital Gestion, has gained +18.37% since its launch in March 2015 versus a return of +8.70% for the Moroccan equity market as a whole over the same period.

ACTIONS DES ENTREPRISES EN FAVEUR DU CLIMAT

It is worth recalling that the FCP Capital SRI fund invests in shares of companies that are selected on the basis of non-financial analysis as well as an appraisal, carried out by Vigeo Eiris, a leading international extra- financial rating agency.

The fund aims to reconcile financial performance 26-28 November 2018 with (i) consideration for the quality of governance, (ii) environmental footprint and (iii) social footprint, UNEP FI in selecting and managing the underlying investments. Global Roundtable & Climate Finance Day FCP Capital ISR enables investors to grow their capital via an investment vehicle consistent with their own social and ethical beliefs, while contributing to socially- ǍǺǾǹǹ–‡˜š‰–‡”š™Œ˜•““•˜‹šŽ‡”Ǿǹ‰•›”š˜‹™ responsible corporate behaviour and sustainable Ǎ‡˜š‰–‡š•”ˆŸ‡”‘•ŒŒ˜‰‡š•–˜‹™‹”š development. š™ “–‡‰š ”œ‹™š”“•Š‹’‡”ŠšŽ‹“–•˜š‡”‰‹•Œ“–‡‰š S ‡”‡’Ÿ™™”Š‹‰™•”Ƭ“‡‘” U S T A I R N E A P B O I R L T I T Y POSITIVE IMPACT FINANCE

BMCE BANK OF AFRICA A MEMBER OF THE WOMEN IN BUSINESS CLIMATE MAINSTREAMING INITIATIVE’S COORDINATION GROUP PROMOTING WOMEN ENTREPRENEURS

As part of initiatives aimed at bolstering support for women’s entrepreneurship and, consistent with the Group’s corporate strategy, which made gender equality a top priority, BMCE Bank of Africa signed an agreement in september 2018 with the European Bank for Reconstruction and Development (EBRD), The Mainstreaming Climate Action within Financial marking the official launch of the Women In Business Institutions Initiative is a coalition of 44 public and programme in Morocco. private financial institutions around the globe aiming to systematically integrate climate change considerations This programme, which comprises a EUR 20 million across their strategies, programmes and operations. (about MAD 200 million) finacing facility, is offered to women-run SMEs and very small enterprises. Designed Due to its active involvement in the Initiative’s working and conceived in response to women entrepreneurs’ groups, BMCE Bank of Africa was invited, in 2018, expectations in terms of financing, services, advice, to join the Initiative’s Coordination Group alongside support and training, this solution is of growth and the EBRD, AFD, IDB, HSBC, Yes Bank, and the West value creation for a positive impact economy. African Development Bank.

Launched in 2015 and guided by 5 principles for incorporating climate action within financial institutions, this initiative aims to provide public and private financial institutions with an opportunity to learn from each other, disseminate good practice and lessons learned and cooperate in areas of common interest.

PAGE 58/59 POSITIVE IMPACT FINANCE

In fact, figures reveal that only 50% of formal businesses run by women have a bank account and that they therefore are unable to benefit from banks’ offers and products.

This partnership enables BMCE Bank Of Africa to demonstrate its practice of sustainable and positive impact finance.

IMTIAZ PROGRAMME

The IMTIAZ growth programme aims to help businesses scale up their operations as well as foster the emergence of new business models as part of a process of developing industrial ecosystems. The 2018 programme was a success, with 133 small businesses participating, backed by a variety of different banks within the industry, and generating MAD 2.5 billion of PROVIDING FUNDING, SUPERVISION AND business investment volumes overall. SUPPORT

The Women in Business programme enables SME and VSE run by women entrepreneurs to benefit, in addition to funding, from specific support that comprehensively meets 120projects selected 133 competing applications their non-financial needs: by MAROC PME (96 SMEs and 24 small businesses)

• Certified training on a number of issues, including leadership, digital technology and management; 26 23 applications submitted of BMCE Bank of Africa’s applications selected by by BMCE Bank of Africa MAROC PME (17 SMEs and 6 small businesses) • Regular seminars for women; from nearly every out of the 23 applications selected were financed region by short-to-medium loans or leasing arrangements 12while the remainder were self-financed • Networking opportunities with key players within the business world; BMCE Bank of Africa’s application success rate in 2018 was 88% compared to 90% in 2017 and 90% for • Mentoring by recognised business leaders in their the industry. The Casa North, Nord Med, Casa South S respective disciplines; U and Central regions excelled in terms of their number S of applications and success rates. T • The possibility of benefiting from heavily subsidised in A situ consulting and expertise; I R N E A P It is worth noting that the European Union is the donor B O organisation providing support for Morocco’s entire I R L T technical assistance programme. I T PROSPECTS PROMISING Y

The prospects for different categories of women – business women from urban areas as well as from rural regions (cooperatives) – are promising. Leveraging ‘relationship’ capital to foster inclusive growth

PAGE 60/61 RELATIONSHIP CAPITAL TO FOSTER INCLUSIVE GROWTH

Customer strategy capitalising on trust, a convergence of interests and excellence

A WELL-RESOURCED COMMITMENT TO PROTECTING CUSTOMERS’ PERSONAL DATA

PERSONAL DATA PROTECTION The 5 security aspects applied to the Group Information security and protection of personal data Information Systems Security Policy are:

The Head of Group Information Systems Security (RSSIG) is responsible for Information risk management at BMCE Bank of Africa Group level. AvailabilityAvail IntegrityInt Management responsibilities include monitoring, raising awareness, detection and response. Underpinning the management process are sound Authorised persons Information security practices as well as the recommendations may access information may not be modified made by BMCE Bank of Africa’s Group General at any time by unauthorised persons Control, General Management for information systems security (DGSSI), the Central Bank, international standards such as ISO 27001 and international payment brands VISA, MasterCard and SWIFT. Confonfidentialityid ComplianceCom In February 2017, BMCE Bank of Africa adopted a new Group Information Systems Security Policy based on the ISO 27001:2013 standard, which The information Complying with legislation reflects the senior management’s preference for and is protected from and regulations in force unauthorised access commitment to implementing human, operational and functional means to protect, as effectively as S possible, BMCE Bank of Africa Group’s information U assets and information systems. S T TraceabilityTra A I R N E Any person who has A P issued, received, B O accessed or modified I R data, can neither deny L T having issued or I received it nor dispute T its content Y RELATIONSHIP CAPITAL TO FOSTER INCLUSIVE GROWTH

The ISO 27001:2013 standard provides a code of The CSP is compulsory for all banks. The latter good practice for information security management. are obliged to comply with the CSP programme’s It has 14 domains. mandatory security controls each year.

Furthermore, Eurafric-Information (EAI), which continues to be ISO 27001:2013-certified, is the Supplier relationships Compliance delegated manager of BMCE Bank of Africa’s System acquisition, IS aspects of business information systems. EAI participates increasingly in development and maintenance continuity management establishing the foundations of IT security within the Group. It is also worth noting that our Data Centre Communications security IS incident management is Tier III+ certified, which reduces downtime and ensures high availability of data, applications and Operations security services to the Bank’s customers.

ISO 27001:2013 framework

Access control Security Policies

Cryptography Organisation of information security Physical and Human Resource security environmental security Asset management

In December 2018, BMCE Bank of Africa successfully met the compliance requirements of SWIFT’s Customer Security Programme (CSP), which is designed to minimise the risk of cyber-fraud. CSP SWIFT is a security programme that is inspired by best practice in protecting critical IT environments. It consists of 16 mandatory security controls and 11 optional controls. Introduced in March 2017 by SWIFT, the CSP requires that each organisation defines, documents and implements a set of objectives, principles and controls.

PAGE 62/63 RELATIONSHIP CAPITAL TO FOSTER INCLUSIVE GROWTH

As far as the operational side is concerned, BMCE Bank In addition, an IS security roadmap (2017-2020) has of Africa is constantly investing to improve management been drawn up which deals with a number of aspects: of customer security and customer data in the face of a growing threat from cyber-attacks, both quantitatively and qualitatively. The Group Information Systems (IS) Governance department, which is attached to NEW REGULATORY REQUIREMENTS the Group Technology, Processes and Organisation (TPOG) Division, and which reports to General Management-Group Operations, in conjunction with Eurafric-Information’s staff, participates in and steers the RECOMMENDATIONS RESULTING FROM THE IS SECURITY AUDITS CARRIED OUT following initiatives:

TIGHTENING UP SYSTEMS AND END-USER 1 THE BI-ANNUAL IS GLOBAL AUDIT SECURITY

ANNUAL PENETRATION TESTS IN ENSURING THAT ALL CUSTOMER, BANKING 2 COMPLIANCE WITH THE CENTRALE BANK AND PERSONAL DATA ARE SECURE DIRECTIVE NO. 3/W/2016

PENETRATION TESTS PRIOR TO WEB ENSURING THAT THE CHANGES AND 3 APPLICATIONS BEING PUBLISHED DEVELOPMENTS TO IS ARE SECURE

ONGOING IN-COMPANY PROGRAMMES TO 4 RAISE AWARENESS ABOUT DIFFERENT TYPES TRAINING AND AWARENESS OF CYBER-ATTACK

MONITORING AND MANAGING OUTSOURCED Activity-monitoring indicators and systems have been 5 SERVICES introduced and monitored on a monthly basis by the Bank’s and EAI’s security committees. COMPLYING WITH THE PAYMENT CARD INDUSTRY DATA SECURITY STANDARD (PCIDSS) (AN INTERNATIONAL 6 INFORMATION SECURITY STANDARD FOR ORGANISATIONS HANDLING CREDIT CARDS S COMPLYING WITH THE SWIFT CUSTOMER SECURITY U 7 PROGRAMME (CSP) RELATING TO SWIFT PAYMENTS S AND TRANSFERS T A I R CRISIS MANAGEMENT AND DRAWING UP IT N E 8 SERVICE CONTINUITY PLANS A P B O I R L T I T Y RELATIONSHIP CAPITAL TO FOSTER INCLUSIVE GROWTH

QUALITY MANAGEMENT APPROACH

Our Quality Management approach is based on maintaining our quality management system which is modelled on the ISO 9001:2015 standard includes evaluating all internal and external stakeholders, including customers and business partners.

ISO 9001 certifications obtained and maintained in 2018 include: • Human Resource Management • Purchasing management • Mortgage loan management • Instant loan management • Management of transfers and documentary credits • Securities management • Bank card management • Bank-Insurance management

CUSTOMER SATISFACTION CENTRAL TO Customermer RelRelations Center CMCEE satisatisfactionf survey THE GROUP’S GROWTH STRATEGY satisfaction survey

PARTICIPATORY BANK BTI BANK WINS Overall satisfaction 85% Overall satisfaction 81% ‘BEST CUSTOMER SERVICE OF THE Knowledge of products Support in terms and services 84% of communication 75% YEAR’ AWARD by call centre staff concepts Sufficient quantity Level of satisfaction of information 81% about the efficiency 54% of the communication Reliability of the information plan’s targeting BTI Bank won the ‘Best Customer Service 2019’ award provided 84% in the ‘Participatory Bank’ category at the second Effective response 100% ‘Best Customer Service of the Year Award’ ceremony to requests for help in Morocco.

Leveraging the international experience of its founders, Al Baraka Banking Group and BMCE Bank of Africa, Purchasinrchasing services PLG HelpH Desk satisfactions survey satisfaction survey BTI Bank has established itself by adopting a quality management approach as a strategic growth driver. Overall satisfaction 100% Overall satisfaction 67%

Employees’ level of empathy 92% Availability of field reps BTI Bank’s extensive product offering is well-adapted Validating to customers’ expectations. Available to retail banking the technical aspects 83% customers is an extensive range of accounts and bank Price negotiation 90% cards, mortgages, car loans and equipment loans Response time to urgent requests 85% as well as deposit management. Professionals and companies benefit from tailor-made services and personalised support from the participatory bank.

Loansns and collateral ServiceServic Desk CSM satisfaction survey SatisfactionS survey

Overall satisfaction 56% Overall satisfaction 63% Processing RAP applications 90% Quality of response 68% Processing RAT applications 89% Quality of on-site response 66% Level of satisfaction about the drawing up 80% Agents’ service quality 73% of contracts and deeds Applications to change loan terms 80%

Processing mortgage release applications 73%

PAGE 64/65 HELPING THE NETWORK IMPROVE (1) Improve customer experience across every possible SERVICE QUALITY AND DELIVERY AND channel while developing new revenue streams PROMOTING A QUALITY CULTURE (2) Ensure that BMCE Bank of Africa becomes market leader in digital banking and innovation The purpose of mystery customer surveys is to evaluate (3) Front-to-back-office process digitalisation for the quality of the service delivered to the Bank’s greater operational efficiency customers at branch level, identify possible areas for improvement and ensure that under-performing Since the Programme’s launch, BMCE Bank of Africa branches are brought up to standard. has vigorously pursued its transition, with many achievements to its credit. These include new features In 2018, 400 branches were involved in mystery on BMCE Direct Web and Mobile, new services on the customer surveys. In the latest 2018 survey, the DabaPay mobile payment solution, implementation aggregate Quality of Welcome score was 7.7/10 for all of a digital think-tank, the incorporation of a research branches audited, by +0.7%. tool with artificial intelligence, the launch of the Intrapreneurship and Internal Innovation initiative and the use of predictive models with Big Data technology, all of this for the benefit of our customers and our employees.

Personal & Professional 1 Banking project

13 Bank-Insurance project 2 Corporate Banking project

Business process 12 Blockchain project 3 digitalisation project

11 Fintech project Digital 4 Mobile payments project Programme Change management Digital Think-Tank project 5 10 project

9 EAI Empowerment project 6 Big Data project S U S Artificial Intelligence Digital communications T 8 7 project project A I R N E A P B O SERVICES DIGITALISATION, FOR CLOSER I R TIES WITH CUSTOMERS AND A MORE A high proportion of the Bank’s staff are heavily L T involved in the Digital Programme – more than 350 I SUSTAINABLE EXPANSION IN AFRICA T employees and more than 80% of the Bank’s divisions Y DIGITALISATION PROGRAMME – AN are closely involved in digital transformation projects AMBITIOUS, ROBUST AND MOBILISING and more than 300 meetings have been held regarding TRANSFORMATION these various projects since launch.

As a result of a paradigm shift brought about by the explosion of digital usage and widespread access to the internet, particularly when it comes to demand for banking industry products, in 2017, the Bank embarked on a major digital transformation program that has three core strategic goals: RELATIONSHIP CAPITAL TO FOSTER INCLUSIVE GROWTH

CASE STUDY: MAGHREBAIL, THE BMCE BANK OF AFRICA ACCLAIMED LEASEBOX SOLUTION FOR MANAGING FOR ITS DIGITAL TRANSFORMATION AND STEERING LEASING PROGRAMME

The Leasebox Solution offers customers, suppliers and As part of its Digital Transformation Programme, account managers a real sense of traceability as far as BMCE Bank of Africa was acclaimed in February 2019 customer loans are concerned with a variety of simple for the “governance of its transformation programme and ergonomic features. and its endeavour to foster a delivery-driven culture” within the ‘Transformation’ category, as well as for Constructive feedback from the Bank’s branch its DabaPay mobile payment solution within the network has resulted in enhancements to the Leasebox ‘Solutions/Customer Experience’ category. platform over its years of implementation. Phase II of this technological feat, which is now ready, will provide These awards were made as a result of a detailed a genuine partner interface that will enable account qualitative and quantitative study conducted by experts managers to process customer requests thanks to a from the consulting firm, Trusted Advisors, of different scoring tool developed by Maghrebail. banks in Morocco, Algeria and Tunisia. The study also involved interviewing every stakeholder affected by the Bank’s digital transformation.

PAGE 66/67 SUPPORT GIVEN TO PREVENT CUSTOMERS FROM BECOMING OVER-INDEBTED

SPECIFIC SUPPORT FOR FINANCIALLY- The main purpose of these checks is to prevent VULNERABLE CUSTOMERS customers from becoming over-indebted. This procedure is designed to protect both a customer’s Incorporating a set of controls and checks within its and the Bank’s interests. various retail customer credit approval processes makes it easier for the Bank to determine whether or not to The Bank’s amicable debt recovery process aims to extend credit to a retail customer applicant. support financially-vulnerable customers through a number of different approaches:

Ǎ˜•œŠ”‰›™š•“‹˜™šŽ‡‰‰›˜‡š‹”Œ•˜“‡š•”‡ˆ•›š˜‹™š˜›‰š›˜”–’‡”™‡”Š‡˜˜‡”‹“‹”š™ƨ Right to information Ǎ•”š”›•›™’Ÿ“–˜•œ”šŽ‹‰•”Šš•”™‡”Š‰•”š‹”š•ŒšŽ‹Š‡’•›‹‡”Š”‹•š‡š•”™ƪ

Respecting Ǎ‹™–‹‰š”‰›™š•“‹˜™Ƶ–˜œ‡‰Ÿ‡”Š–˜•š‹‰š”šŽ‹˜–‹˜™•”‡’Š‡š‡ƨ Ǎ˜‡”›–š˜‡”™–‡˜‹”š–˜•‰‹Š›˜‹™š•‹”™›˜‹šŽ‡š‰›™š•“‹˜™Ƶ‰•“–’‡”š™Ƨ customers interests ˜Žš™‡”Š•ˆ’‡š•”™‡˜‹Š‹‡’ššŽƪ

ŸƩ Preventing over-indebtedness Ǎ Š‹”šŒŸ”‡™‹‡˜’Ÿ‡™–•™™ˆ’‹‰›™š•“‹˜™Ž•‡˜‹”‡–˜‹‰‡˜•›™™š›‡š•” ™•‡™š••ŒŒ‹˜šŽ‹“‰›™š•“™‹Š™•’›š•”™ƨ Ǎ˜•–•™”ˆ‹™–•‘‹‡”Š’•”Ƭš‹˜“‡“‰‡ˆ’‹™•’›š•”™ƪ Providing specific training Ǎ‹ˆš˜‹‰•œ‹˜Ÿ“‡”‡‹˜™™–‹‰‡’™””Ž‡”Š’”™‹”™šœ‹‡”Šœ›’”‹˜‡ˆ’‹‰‡™‹™Ƨ for debt recovery managers ‘”•”‡™ƴ‡“‰‡ˆ’‹˜‹‰•œ‹˜Ÿ‡Šœ™•˜™ƵƧ˜‹‰‹œ‹™–‹‰Œ‰š˜‡””Ƨ‡™‡Šœ‹˜š™‹Š ”šŽ‹ ˜•›–ƺ™š˜‡””‰‡š‡’•›‹ƪ

Debt recovery managers specialising in handling sensitive and vulnerable cases, known Ǎ‡”š‡””‡””œ‹”š•˜Ÿ•Œ‹œ‹˜Ÿ‰›™š•“‹˜“‹‹š”‡”›“ˆ‹˜•Œœ›’”‹˜‡ˆ’šŸ‰˜š‹˜‡ƨ as ‘amicable recovery advisors’, ǍŸ™š‹“‡š‰‡’’Ÿ‡Š•–š”‡–˜•‡‰šœ‹‡––˜•‡‰Žš•šŽ‹™‹‰›™š•“‹˜™ˆŸŽ‡œ”š•š‹‡“™ receive specific training, ǐ‰‹”š˜‡’‡”Š˜‹•”‡’Ǒƨ Ǎž–’•˜”Ƨ”‰•”›”‰š•”šŽšŽ‹‰›™š•“‹˜™”—›‹™š•”Ƨœ‡˜•›™™•’›š•”™š•‹”‡ˆ’‹ as advertised in the Group's šŽ‹“š•˜‡Š›‡’’Ÿ‰’‹‡˜šŽ‹˜’•‡”‡˜˜‹‡˜™ƨ training catalogue Ǎ‹™›“”Ƨ‡ššŽ‹‹”Š•ŒšŽ‹˜‹Ž‡ˆ’š‡š•”–‹˜•ŠƧšŽ‹‰›™š•“‹˜˜‹’‡š•”™Ž–‡šˆ˜‡”‰Ž’‹œ‹’ƪ

S Preventing corruption Ǎ‡™”‹“–’•Ÿ‹‹‡‡˜‹”‹™™•ŒšŽ‹“‹‡™›˜‹™š‡‘‹”ˆŸšŽ‹‡”‘”šŽ™˜‹™–‹‰šƨ U Ǎ•š‡‰‰‹–š”ˆ˜ˆ‹™•˜Œš™Œ˜•“‰•›”š‹˜–‡˜š‹™ƪ S T Bolstering transparency Ǎ˜‡”›–•ˆ‹‰šœ‹™Ÿ™š‹“™Œ•˜‡––˜‡™”Š‹ˆš˜‹‰•œ‹˜Ÿ“‡”‡‹˜™‡‡”™š A “‹‡™›˜‡ˆ’‹–‹˜Œ•˜“‡”‰‹‰˜š‹˜‡ I R N E Appraising the effectiveness A P of policies aimed at preventing B O Ǎ”™›˜”‰›™š•“‹˜™‡š™Œ‡‰š•”ˆŸ‡Š•–š”‡‰›™š•“™‹Š‡––˜•‡‰Žš•šŽ‹˜ŠŒŒ‰›’š‹™ƪ customers from getting I R into financial difficulty L T I T Y RELATIONSHIP CAPITAL TO FOSTER INCLUSIVE GROWTH

Relationship with stakeholders BMCE BANK OF AFRICA’S RESPONSIBILITY based on empathy and dialogue EXTENTED TO ITS SUPPLIERS FAVOURING LOCAL SMES AND SMALL BUSINESSES IN PURCHASING DECISIONS AND COMPLYING WITH SOCIAL AND ENVIRONMENTAL STANDARDS

INCORPORATING INTERNAL BMCE Bank of Africa Group has adopted a STAKEHOLDERS’ EXPECTATIONS AND Responsible Purchasing policy to be better CONTRIBUTIONS VIA A CONSTRUCTIVE equipped to deal with the new challenges facing the AND ONGOING DIALOGUE Bank and its development. The Group Purchasing FREEDOM OF ASSOCIATION AND TRADE Department therefore plays an important role in the UNION RIGHTS Group’s Sustainability & CSR strategy. By purchasing responsibly, the Bank complies with its undertakings in BMCE Bank of Africa is a signatory to the Collective terms of promoting economic and social development Labour Agreement for Moroccan Bank Employees, as well as reducing its environmental impact. This approach is being gradually incorporated within all which governs relations between the Moroccan purchasing processes and purchase categories so as to Banking Association (GPBM) and the Labour Union foster better awareness of the concept of responsible (USIB-UMT). This agreement guarantees the right and sustainable development. to organise. The fact that Mr Othman Benjelloun, Chairman and Chief Executive Officer, has given his The Responsible Purchasing policy also entails personal undertaking to respect the right to organise incorporating SME and VSE within the purchasing is a key factor in regulating labour relations within the process, preventing suppliers from becoming Bank. Physical resources are made available to trade financially dependent and ensuring that they carry union representatives, which makes it easier for them out CSR audits. to carry out their duties. As a result, BMCE Bank of Africa endeavours to PROMOTING SOCIAL DIALOGUE AND COLLECTIVE BARGAINING incorporate, as much as possible, domestic suppliers into its purchasing activities with a view to promoting Social dialogue is carried out at the very highest the development of the domestic economy, while levels of the organisation by the Bank’s senior ensuring that suppliers do not become economically or management alongside HR Services. Social dialogue technologically dependent by systematically adopting is underpinned by a number of joint committees which suitable alternative solutions. Group Purchasing is deal with a variety of issues such as training, appraisals, similarly careful to ensure that suppliers do not become remuneration, managing staff loans, occupational financially dependent on the Bank by promoting the health and employee benefits. development of its business and performance without in any way jeopardising its partners’ economic viability. As such, as part of the process adopted governing labour relations, a number of meetings were organised To improve the competitiveness of the domestic to deal with a variety of issues such as handling economy, local SMEs and VSEs are warmly complaints, preventing occupational health and safety encouraged to put themselves forward when the Group risks and the challenges and effects of digital banking. announces a request for tender or consultation and to consider themselves as integral part of a sustainable The information needed to negotiate effectively is and balanced partnership. By diversifying its pool of provided in real time, without any discrimination or suppliers to include SMEs and VSEs, the Group is retaliation against employees who participate or intend able to reduce financial dependence and manage its to participate in such organisations and who bargain purchases optimally. collectively. In order to bolster its quality management approach to which it is committed as part of the ISO 9001 certification process, the Group Purchasing Department draws on appraisal and control systems enabling it, on an ongoing basis, to:

PAGE 68/69 • Assess the ability of suppliers to meet BMCE Bank PURCHASING MANAGEMENT ACTIVITY of Africa’s expectations; ISO 9001:2015-CERTIFIED • Select suppliers based on the purchasing procedures governing the activity in question; The Purchasing Management department established a • Conduct an annual supplier appraisal to check that well-structured and internal customer-oriented Quality the services are compliant overall and adhere to the Management System, rewarded upon certification Charter’s requirements in terms of quality, safety, based on ISO 9001 2015 version. The certification environment, energy, waste reduction and society. audit carried out in 2018 resulted in a zero-deviation score. To broaden the Group’s Sustainability and CSR footprint, Group Purchasing asks the Bank’s suppliers ANNUAL SERVICE PROVIDER EVENTS to be equally committed to behaving responsibly. TO RAISE AWARENESS ABOUT THE A Sustainability and CSR appraisal, in addition to RESPONSIBLE PURCHASING CHARTER technical and financial criteria, is used to qualify and select suppliers. Appraisal matrices are representative Service provider events were organised in 2018 for of the Bank’s determination to enforce environmental each of the Bank’s service providers to inform them and societal aspects in its direct ecosystem. This policy about BMCE Bank of Africa’s Responsible Purchasing encourages suppliers to adopt solutions for maintaining Charter and raise awareness of its Health, Safety and environmental quality, consuming responsibly and Environment requirements. In addition, internal audits minimising the negative impacts on the environment and visits were carried out at various sites to ensure and on society. compliance with the Charter’s provisions.

By incorporating Sustainability and CSR aspects within the purchasing process, suppliers are made aware of the social and environmental issues relating to their business and the need to adopt a socially responsible approach if they are to improve their competitiveness. To ensure that these rules are complied with, audits are conducted to check suppliers’ CSR policy and, if needed, help them improve in pre-identified areas for improvement on an ongoing basis.

S SUPPLIER AUDITS IN 2018 U S T RISK A SITE CONTROL I R ASSESSMENT AUDITS N E A P B O I R L T 22 VISITS IN 2018 I T Y INDNDEXE GRI REPORTING OPTION: CORE STAT NDAN RDSS 200188 UNIVERSAL STANDARDS DisDiscloosursuu eOre gannisatiot nal profile Status Page or reference number GRI 102: GENERAL DISCLOSURES 2016 102022-1 Namme of the organization Complete BMCE Bank of Africa 10202--2 Actcttiivitiees,s brands, products, and services Complete Annual Report page 12 102022--3 Lococatia onn of headquarters Complete 140 avenue Hassan 2, Casablanca, Morocco 102020 --4 LocLo ationn of operations Complete Annual Report pages 14 and 31 102020 --5 OwnO ersshiph and legal form Complete Annual Report page 203 10202--6 Marketts served Complete Annual Report pages 32 to 39 10202--7 Scale ofof the organization Complete Annual Report page 31 10202-8- Informmatia on on employees and other workers Complete Annex Table No.1 102022-9 Supplyy cchain Complete Annex Table No.2 Significancca t changes to the organization and its 1022-10-11 Complete No significant change in 2018 supplypyy cchain 1022-11-11 Precauutiotti nary Principle or approach Complete Sustainable Development Report pages 19, 49, 50, 56 and 57 1022--12-1 Extxternrnaal iniinn tiatives Complete Sustainable Development Report pages 7 to 10 Sustainable Development Report pages 9 and 32 to 39. BMCE 1022--131 Memberbbe shish p of associations Complete Bank of Africa is also a member of the Professional Association of Moroccan Banks Strategy 102-14-144 StaSSt temementen frromo senior decision-maker Complete Sustainable Development Report pages 4 and 5 102-15-1 Key imimpactts, risks, and opportunities Complete Sustainable Development Report page 23 Ethics and integrity 10210 -16 Valuesuees, principc les, standards, and norms of behaviour Complete Sustainable Development Report pages 49, 52-53 and 69 Governance 102002-1-18 Govovernere ancann e structure Complete Sustainable Development Report pages 17 to 21 10202-3535 Remuneunu ration policies Complete Sustainable Development Report page 20 Stakeholder engagement 10202-40-440 LisLi t of stakeholder groups Complete Annex Table No.3 10202-4-41 ColCo lleclee tive bargaining agreements Complete 100% 1022-424 IdeI entint fying and selecting stakeholders Complete Annex Table No.3 1022-4-43 Appprroach to stakeholder engagement Complete Annex Table No.3 102-44-4 Keyy topicp s and concerns raised Complete Annex Table No.3 Reporting practice EntEn ititiese incnccluded in the consolidated financial 102100 -4545 Complete Annual Report page 10 statatementts 102-4646 Defininni g repoep rt content and topic Boundaries Complete Annex Table No.4 102002-4747 Lisist of material topics Complete Annex Table No.3 & 4 1022-488 Resestatatemeeem nts of information Complete No significant restatement in 2018 102022-49 Chahangen s in reporting No significant change in 2018 110210 -50 Repeporting period Complete 2018 102022-51-51 DaDatD e of most recent report Complete March 2019 1020 -522 RepRRe orting cycle Complete Annual cycle 102022-53-5 CConCo tact point for questions regarding the report Complete Mrs Soraya Sebti, Head of Sustainable Development ClaCl ims of reporting in accordance with the GRI This report has been prepared in accordance with the GRI 102100 -544 Complete StaStS ndards Standards: Core opption 102-5555 GRIG content index Sustainable Development Report pages 70 to 73 102-566 ExtE ernal assurance Complete This report has not been externally assured GRI 103: REPORTING PRACTICE 2016 ExpE lanation of the material topic and its 1033-1 Complete Annex Table No.5 BouB ndary Information 103033-22 TheT management approach and its components unavailable Information 103003-3-3 EEvaluation of the management approach unavailable

PAGE 68/6970/ 7 1 INDN EEX GRI REPORTING OPTION: CORE STAT NDAN RDSS 200188 Éléments d’information spécifiquesp q UNIVERSAL STANDARDS DisDiscloosusuru eOre gang nisasational prp ofile Status Pagge or reference number GRI 201: ECONOMIC PERFORMANCE 2016 103033-1 Exppllalanatiat on of the material topicpy and its Boundary Completep Annex Table No.5 103033--2 Thehee maanagn gement approachpp and its componentsp Completep Annual Reportppg page 14 103033--3 Evavalualuu tiotion of the managgppement approach Completep Annual Reportppg page 14 20101--1 Direect ece onomic value ggenerated and distributed Completep Financial Reportp DefiDe nedd benefit plan obligations and other 201010 --3 Complete Annex Table No.9 reretr iremenme t plans Information 20101--4 Financciaial assistance received from government unavailable GRI 202: MARKET PRESENCE 2016 10303-1- Expppylannatia on of the material topic and its Boundary Completep Annex Table No.5 10303-2 The mamanaggement apppproach and its compponents Completep Annual Reporp t pageg s 33 to 37 1033-3- Evaluaatiot n of the managgppement approach Completep Annual Reportppg pages 33 to 37 Ratioss oof standard entry level wage by gender None of BMCE Bank of Africa's employees are remunerated at the 2022-1- Complete comparpapared to local minimum wageg minimum wage level GRI 204: PROCUREMENT PRACTICES 2016 1033--1 Expxpplanationo of the material topicpy and its Boundary Completep Annex Table No.5 1033--2 TheTh mannagnagement approachpp and its componentsp Completep Sustainable Developmentpppg Report pages 7, 71 and 72 103--33 EvaEv luatioon of the management approach Completep Sustainable Developmentp Repop rt pagpges 7, 71 and 72 2044-1 Proporportioon of sppgending on local supp liers Completep 100% local is defined as 'from the country'y GRI 205: ANTI-CORRUPTION 2016 103-1 Expplanlaanatia ono of the material topicp and its Boundaryy Completep Annex Table No.5 Information 103-2-2 TheT manageement approach and its components Sustainable Development Report pages 7, 11, 49, 52, 53 unavailable Information 1031 -33 Evaluatioti n of the management approach Sustainable Development Report pages 7, 11, 49, 52, 53 unavailable Commmunicaic tion and training about anti-corruption 20505-22 Complete Sustainable Development Report pages 52, 53 and 69 polp iciic ess andnd prp ocedures ConCo firmeed incidents of corruption and actions Sustainable Development Report page 47 and Annual Report pages 2020505-3 Complete taka enen 66, 67 and 69 GRI 206: ANTI-COMPETITIVE BEHAVIOUR 2016 10303-1 Expplana ation of the material topicp and its Boundaryy Completep Annex Table No.5 10303-2-2 The managementgpp approach and its components p Partial Sustainable Developmentpppg Report page 7 10303-3 Evalualu tion of the management approach Partial Sustainable Developmentp Reportp pagep g 7 Legegala actions for anti-competitive behaviour, anti- No legal action for anti-competitive behaviour, anti-trust and 2066-11 Complete ttrust,st and monoppypoly practices monopolypyp practices against g BMCE Bank of Africa GRI 302: ENERGY 2016 1033--1 Expxplanation of the material topicp and its Boundaryy Completep Annex Table No.5 103-22 Thehe mamanaggement approachpp and its componentsp Complp ete Sustainable Developmentp Reportp pagesp g 7, 55, 72 103-33 Evavaaluationon of the managegppment approach Completep Sustainable Developmentpppg Report pages 7, 55, 72 302-11 EneEn rgyrggyg coonnsumptionp within the organizationg Complp ete Annex Table No.6 30302-4-4 Reduuctionon of energgyy consump ption Completep Sustainable Developmentpppg Report page 55 GRI 305: EMISSIONS 2016 10310 -11 ExpExplanaationn of the material topicpy and its Boundary Completep Annex Table No.5 103003-22 Thehe mam nagementgpp approach and its components p Completep Sustainable Developmentpppg Report pages 7, 55 103033-3 Evavaluauatiot n of the management approach Completep Sustainable Developmentp Reportp pagespg 7, 55 305055-1- Dirireecect ((Scoppe 1) GHG emissions Completep Sustainable Developmentpppg Report page 53 and Annex Table No.7 30530 -22 Enenergy indirect (Scope 2) GHG emissions Complep te Sustainable Developpment Reportp pgpage 53 and Annex Table No.7 33055-33 OthOtther indirect (Scopep 3) GHG emissions Completep Sustainable Developmentpppg Report page 55 and Annex Table No.7 30505-4 GHGGGH emissions intensity Completep Sustainable Developmentpppg Report page 55 and Annex Table No.7 305300 -5 RedRRe uction of GHG emissions Completep Sustainable Developmentpppg Report page 55 and Annex Table No.7 GRI 306: EFFLUENTS AND WASTE 2016 1030033-1 Explanppyatiat oon of the material topic and its Boundary Completep Annex Table No.5 Information 10303-2 The mam nagnnaa ement approach and its components unavailable Information 1033--3 Evavaalual tioioon of the management approach unavailable 30606-2- Wastte byby type and disp osal method Annex Table No.8 GRI 401: EMPLOYMENT 2016 10303-1- EExpppylannatiaat on of the material topic and its Boundary Completep Annex Table No.5 103030 -2- The maannaggement apppproach and its compponents Complp ete Sustainable Developmep nt Repport pap geg 46 10303-3- Evaluatiotion of the managgppement approach Completep Sustainable Developmentpppg Report page 46 40101-1 New emmplopyyee hires and emplpyoyee turnover Compplete Annex Table No.1 Benefitfits provided to full-time employees that are 4011--22 Complete Annex Table No.9 not prprooviov ded to temppyporary or part-time emp pyloyees GRI 403: OCCUPATIONAL HEALTH AND SAFETY 2018 Occccupational health and safety management 4033-1- Complete Sustainable Development Report page 43 syssyy temem Hazardrd iddeentification, risk assessment, and incident 403--22 Partial Sustainable Development Report page 43 invin estigagag tioon As part of a formal approach to assessing psychosocial risks, a WorW kerk participation, consultation, and 403-44 Partial survey was conducted in a pilot test region with a participation rate communicaic tion on occupational health and safety of 78.58% 40340 -5 Worrkeker trainai inggp on occupational health and safetyy Completep In the pilotpg test region, 126 managers g received training g Prevenvve tiotion and mitigation of occupational health 40303-7 andnd safetety impacts directly linked by business Partial Sustainable Development Report page 42 relatioonshipps WorWo kerkee s covered by an occupational health and 40303-88 Complete Annex Table No.11 safetyeety managgyement system GRI 404: TRAINING AND EDUCATION 2016 1033--1 Expplanl ation of the material topicpy and its Boundary Completep 103-2 Thehe managementg approachpp and its componentsp Completep Sustainable Developmentp Reportp pagep g 46 103-33 Evavaalluaatiotti n of the managegppment approach Complep te Sustainable Developpppgment Report page 46 Sustainable Development Report pages 43 and 44 and Annex Table 4044 -11 Averagage hoours of training per year per employee Complete No.11 Prograg msm forfo upgrading employee skills and 404-22 Complete Sustainable Development Report pages 43 and 44 traansins tiotiion assistance programs 92%2% of employees underwent an annual 404044-3- Complete Sustainable Development Report pages 43 and 44 perperfforfo mance review GRI 405: DIVERSITY AND EQUAL OPPORTUNITY 10303-1 ExExpE planation of the material topicpy and its Boundary Completep Annex Table No.5 Information 1033-2-2 TTheTh management approach and its components unavailable Information 10310 -3 EEvaEv luation of the management approach unavailable 405-1 DDiversityyg of governance bodies and employeespy Completep Annual Reportppg pages 70 to 96 and Annex Table No.12 GRI 406: NON-DISCRIMINATION 2016 103-11 ExpE planation of the material topicpy and its Boundary Completep Annex Table No.5 Information 1033-22 TheT management approach and its components unavailable Information 103-3- EEvaluation of the management approach unavailable IncInncidedents of discrimination and corrective actions 406-1 Complete No incident of discrimination was registered in 2018 takakenn

PAGE 72/ 7 3 GRI 407: FREEDOM OF ASSOCIATION AND COLLECTIVE BARGAINING 10303-1 Expppylanannatiat on of the material topic and its Boundary Completep Annex Table No.5 103033-2 Thee mmaannaggement approachpp and its componentsp Partial Sustainable Developmentpppg Report pages 7 and 70 103033--3 Evavalualuu tiotion of the management approach Partial Sustainable Developmentp Reportp ppagesg 7 and 70 OpeOp rattionio s and suppliers in which the right to No supplier was identified in 2018 in which workers’ rights to 40707-1 ffreedoom of association and collective bargaining Complete exercise freedom of association or collective bargaining might have may bee at risk been violated or at significant risk GRI 408: CHILD LABOUR 2016 1033-1- Expppylannaation of the material topic and its Boundary Completep Annex Table No.5 Information 1033--2 Thehe managna ement approach and its components unavailable Information 103-3-3 EvaE lualu tioti n of the management approach unavailable No operation was identified considered to have a significant risk for incidents of child labour. The risk to which our company as a Opeperatioioni s and suppliers at significant risk for 408-1 Complete whole is exposed is not significant given the nature of our business. inccideid ntsnt of child labour Furthermore, We do not source raw materials, goods or services directlyyppgj from suppliers in high-risk jurisdictions. GRI 417: MARKETING AND LABELLING 2016 10303-1- Expxppllanation of the material topicp and its Boundaryy Completep Annex Table No.5 Information 1033-2 Thehe management approach and its components unavailable Information 10310 -33 Evaluauation of the management approach unavailable No incident of non-compliance with regulations concerning Incnccidedentsn of non-compliance concerning product 41717-2- Complete products and services resulting in a fine for BMCE Bank of Africa andnd service information and labelling in 2018 No incident of non-compliance with regulations concerning IncIIn idents of non-compliance concerning marketing 417177-3 Complete marketing communications resulting in a fine for BMCE Bank of comco munications Africa in 2018 GRI 418: CUSTOMER PRIVACY 2016 103-1 ExpE planation of the material topicp and its Boundaryy Compplete Annex Table No.5 1033-2 TheT managementgpp approach and its components p Partial Sustainable Developmentpppg Report page 69 103033-33 EEvaluation of the managgppement approach Partial Sustainable Developmentpppg Report page 69 No incident of non-compliance with regulations concerning SSubstantiated complaints concerning breaches of 418--11 Complete customer information and customer confidentiality resulting in a cusustomto er privacy and losses of customer data fine for BMCE Bank of Africa in 2018 Table No.1: Total number of employees by contract type, gender and geographical region a.. Total number of employees by contract type (permanent, temporary, ANAPEC) and gender

BMCE Bank BMCE Bank of Africa Groupp 2018 2018 Permanent Temporary ANAPEC con- Total Staff contracts contracts tracts Men 3071 13 145 3229 Men 8866 Womenn 1990 15 94 2099 Women 6378 Total 5061 28 239 5328 Total 15244 b. Total number of employees by contract type (permanent, temporary, 2018 ANAPEC)ANANAPECC) andand geographicalgeoge gragr phical reregiongion Full-time Part-time (interns) 2018 Men 3229 150 Temporary contracts Permanent contracts Women 2099 210 CasCa a Norto h 35 657 Total 5328 360 CasCa a Souto h 48 669 Cene tral 18 362 d. Specify whether a significant percentage of the organisation’s Cenntral Atlantint c 47 510 operations is carried out by workers who are not employees. If so, Centrat al Soutu herern 61 469 provide a description of the type and amount of work carried out by Greater South 28 324 workers who are not employees. Northh Mediterranean n 15 325 e. Detail any significant change in the figures reported in disclosures Easasa ttern 9 234 102-8-a, 102-8-b et 102-8-c (such as seasonal changes in the tourism or HeaaddO Office 1511 6 agricultural sectors). Total Networwo k 261 3550 f. Provide an explanation of the methods used to compile the figures, Total BMCEEB Banka 1772 3556 including all assumptions made. Templates have been drawn up and sent to each of the Group’s c. Total number of employees by employment type (full-time, part-time) subsidiaries for information purposes. and gender The above data has been processed and centralised by Group Human Capital ProPr vide a deescripttionio of the organinisation’ons supply chain, including its main components and the way in which they are linked to the organisation’s opepep rations,s, braannds,,p prododucts and serervices. The supplpp y chain is organisedg as follows: - Grouppg Purcuur hasing unit receives pqpurchase requests from business lines - Selects sus pplpppp iers to participate p p in the consultative or biddingg pprocess - Starta ts the bidddingg processp and consultation - Seleleects thees suppuppplier based on the best offer or lowest bid dependingp g on the type yp of ppurchase Table No.2o. --A Adjuj dicatessa andn draws upp contracts - Dissemiem nates terms negotiated with those business lines which will make contact with the chosen Provider or Supplier in order to enfene orcce the contract and start the ppgprocess of providing the services or suppli ppes Thehe prp opop rtirt on ofo local companiespp involved in all our projects/servicesj is 95% AAn addititionao l clause was included in existing purchasing procedures in 2014 to take into consideration suppliers' attitudes to environmental issues as parppt of the selection/apprapisal process Modes of information and Stakeholder’s main Actions undertaken to Main stakehooldeders Frequency dialoggue expectatip ons meet those expectationsp BMCE Bank of Africa's CSR BMCE Bank of Africa's Transparent non-financial approach – BMCE Bank of Ongoing website communications Africa's Sustainable Develop- ment ppolicyy Sustainable Development Compliance with laws and Progress report indicators Alll stakehololldders repport regulationsg adoptedp such as GRI Ongoing improvement in the Ethical and responsible way in which BMCE Bank of Annual Annual report behaviour Africa communicates about its CSR approachpp BMCE Bank of Africa's Remuneration based on fair- Social policy intranet website ness and competitivenp ess In-company communications Development opportunities Ethics and Compliance Code Employoyeeses initiatives (career,( , training)g) Career managementg ppolicyy Annual Individual interviews Values and corpporate culture Risk mappppin g a pppproach Table No.N 3 Ethics Psychological support provid- Dialogue with trade unions Health and safetyy ed byypy company doctors Business meetings with Lowering interest rates Quality Charter customers Ongoing (CRC, Customer surveysy Welcome and service qqualityy Dealing with complaints business meetings), Customomerser CRC ‘CRC quality undertakings’ rapidlp y recurring (customer Website Waiting periods for approv- policy satisfaction surveys) Social media ingg loans Delivering growth, profitabili- General Meetings Financial publications tyy and sustainabilityy Information on governance Publication of the annual Board of Directors meetings and financial and non-finan- report and the Sustainable Recurring (Board of Shahah reholdldderse cial risk managementg Developmentpp report Directors meetings, Information about the Bank’s AGM, EGM) Press releases and sharehold- results and goals and about Presenting CSR policy on the er letters the resources adopted to Bank’s website achievingg them them

PAGE 74/ 7 5 Staff representation bodies (unions, Works Council, staff Equity and social justice representatives, Health and Traded unionss Trade union agreements Ongoing Safety Committee) Information on HR policies Dialogue sessions and corporate organisation Suppliers - Responsible Discussions with buyers Fair remuneration Buying Charter Ongoing and ad Supplierser annd Respecting supplier payment hoc (satisfaction sub-cocoonntractcttors Satisfaction/ Expressing periods Ethics and Compliance Code report) needs reports Sustaining commercial relations Institutional support initia- Incorporating BMCE Bank Meetings Chaharitrri able tives of Africa’s commitment to Ad hoc assssoociationsnss Offer expertise (mentoring, disadvantaged communities in Replies to appeals skills) the Bank’s CSR policy Meetings with Heads of Buying Meetings with business line Sub-contracta or Supplier Responsible Buying coordinators To be defined Ad hoc staff Charter Meetings to raise awareness about sustainable develop- ment issues Meetings Process of determining Converting temporary Staff on temeemporary eligibility criteria for converting Ongoing and ad Intranet site contracts into permanent contratr cts temporary contracts into hoc contracts Contract/ Clauses permanent contracts Sharing and enabling access Partnerships with academia Meetings to the Bank’s expertise (universities, schools, etc.) Financial support for Providing internships Acacadememmia research Ongoing Participating in forums Programme de mentoring Débouchés professionnels Soutien financier des asso- d'étudiants ciations Participating in forums Career opportunities Ongoing (website HR pack Working conditions Futuree employees Recruitment policy internet) and ‘Careers’ section on the Remuneration recurring (forums) Bank’s website Targeted communications Press conferences strategy Press releases Steering communications by Clear and relevant the Group Communications Medediaa Replies to requests (for Ongoing interviews, information) information and Financial Communica- tions departments under Various communications the supervision of General publications Management Institutional presentations Non-financial risk control CSR policy about the Bank Continuously improving the Environmental policy and manner by which the Bank Website environmental management handles its environmental, system ISO 14001 certified social and societal risks Compliance with Equator Transparent communications Principles Commitment to sustainable Recurring (annual SEMS adopted Sponsorss finance and quarterly) and CSR reporting ad hoc SEMS reporting Meetings EP reporting Commitment to financing energy efficiency and renew- SME reporting able energy projects Signing a MorSEFF credit line – financing for energy efficiency and renewable energy projects Tabblee No.N 4 The content of this relationship was drawn up on the basis of discussions with stakeholders who highlighted the issues that were of gpgreeatest impmportrtancana e to BMCE Bank and their vulnerability to these issues

11 1 2 18 4 12 14 3 5

15 7 6

8

17 ty i l i 16 9 10 ty stakeholders) for ulnerab i V al i mater (

Materiality for BMCE Bank - potential impact on performance

The Group's longevge ityty thhanknks to a riskk mananageaga ment strategy which incorporates environmental, social and governance aspects 1 Comommpliancan e withthh ruless ana d regulationns 2 Trainining andnd emplop ymentt prospepeectsctt /CaCaareer management 3 Equq aliaal ty in thehee workplacce - princiiples andan policies of non-discrimination and to increase women's participation in managerial positions 4 Empm loylo er-empployoyyee diaalogue 5 Cusstomer satisfsfactc ion, compom laints maannagement 6 Respececting andd prop tectininng custtomemers' intertte ests/personal data, cyber security 7 Ethics, integrity, ppreveventiono of fraf ud and ccorruption 8 Preventint g over-indebd tedede ness 9 Corporate gog vernann cee - Audit and internall control mechanisms 10 Sustainable financencc - Pososititive ImpIm actac Fiinance solutions - SRI 11 Iniitiativivese proromoting occcupcu ationallw wellbeing 12 Resppono sible busiineess cono duct - CSR at suppliers/Respecting suppliers' interests 13 Occupapaational heealta h, safs etyty annddw wellel beingg 14 Reducucing dird ect nen gatattiveve impacts --E Envinv ronnmenm tal management 15 ResR pecting and prop motmo ingng fuf ndadamenm ttal human rights in society - health, education, access to basic social services 16 Helelpini g to elimli inanatee child lababbouro from the supply chain and in society - Social engagement: Medersat.com educational programme 17

PAGE 76/ 7 7 Tablee No.5 Issuee Reason why it is Scope material TheT Groupp'ss lonlo gevity thanks to a risk management strategy which These issues have been BMCE Bank of Africa iincorpporarates ene vironmental, social and governance aspects identified as ‘material’ Commplianca e with rules and regulations (Tables No.3 and No.4) BMCE Bank of Africa/regulators Traaining andd employment prospects/Career management i.e. as being important BMCE Bank of Africa's employees EquEEq ality in theth workplace - principles and policies of non- for BMCE Bank of BMCE Bank of Africa's employees discriminatiioon and to increase women's participation in managerial Africa’s performance positions and liable to have a Employer-eempem loyee dialogue significant impact on our BMCE Bank of Africa's employees stakeholders Customomer satisfaction, complaints management Customers Respecting and protecting customers' interests/personal data, Customers cybybberr securityt Ethhics, intetegrity,ty prevention of fraud and corruption BMCE Bank of Africa/regulators Preventing overve -indebtedness BMCE Bank of Africa/customers Corporateat goovernance - Audit and internal control mechanisms BMCE Bank of Africa Sustainable finance - Positive Impact Finance solutions - SRI BMCE Bank of Africa/customers IniIn tiativees promoting wellbeing BMCE Bank of Africa's employees Respponssible business conduct - CSR at suppliers/Respecting Suppliers suppliiere s' interests OccOc upational healta h, safety and wellbeing BMCE Bank of Africa's employees RedRe ucing direct negative impacts - Environmental management Suppliers/Society ReRespectini g and promoting fundamental human rights in society - Society heahe lthth, education, access to services HelHe ping to eliminate child labour from the supply chain and Society in socso iety - Social engagement: Medersat.com educational progragrg mme

Tabable No°N 6 TotTo al fuel conson umption within the organisation from non-renewable sources, in joules or multiples, and 60,929 litres of petrol inccludingin fuuele types used. and diesel Total fuel consumption within the organisation from renewable sources, in joules or multiples, and not reported incnclududing fuel types used. In joules, watt-ho-h- urs or multiples, the Electricity consumption 24,610,710 kWh tototal: Heating consumption not reported Cooling consumption not reported Steam consumption not reported Tabble No.No 7 GHG emissions assessment - Analysis by scope ForFor its carbonn assasa essment, BMCE Bank of Africa used a Morocco-specific GHG emissions assessment tool, developed by the Mohammed VI Fououndationnf foro thethh Protection of the Environment, in partnership with the Environment & Energy Management Agency (ADEME). This metthod is ISOO1 140640 9-compliant.

GHG emissions assessment - Analysis by scope

SCOPE 3 22%

SCOOPE 1 8%%

SCOPE 2 70%%

PAGE 78/ 7 9 Tablee No.N 8 Typypy e ofwf wastaste Waste treatment method Quantity/kgy g ToToner cartriridgeddgg s NNon-reeusaus blelee laser cartridgesg Recyclingy g 1 202,60, Reuusablel lasassere cartridgeg s Recycly ingg 2 658,00, Ink jej t carttridridgesg Non-reusaablebbl jej t ink cartridgeg s - Reusable jetjet ink cartridgesg 0,,30 Packaggingg Cardboarard bob xxesxe /Pa/ llets Recycly ingg 588,0, 0 Oththerss Electrt oniccw wasaste Recycly ingg 33,00 Photocopioopp err fusf ers Recycly ingg 13,60 Photococopopip er toner containers Recyclingy g 2,00 Papper Recyclingy g 53 350,00 MaiMaM nteteennannce-c related waste Recyclingy g 1 643,00, CPUs 162 CPUs (assumed( unit weight:g 8 kg)g) 1 456,00 FlaFl tts screcrc ens 181 units (assumed( unit weight:g 3 kg)g) 543,00 PriPr nteters 224 units (assumed( unit weight:g 6 kg)g) 1 344,00, Misisccelce laneous 12 units (()not considered)

4010 -2:2 BEB NEFEFFITSS PPROVIDED TO FULL-TIME EMPLOYEES THAT ARE NOT PROVIDED TO TEMPORARY OR PART-TIME EMPLLOYEESS, BY SIGNIFICANT LOCATIONS OF OPERATION a. BenB efits whihich h are standard for full-time employees of the organization but are not provided to temporary or part-time empeme ployyeess, by signg ificant locations of operation. These include, as a minimum: BMCE Bank BENEFIITST PROPRP VIDED TO FULL-TIME EMPLOYEES THAT ARE NOT PROVIDED TO TEMPORARY OR PART-T-TTIME EME PLOYEES, BY SIGNIFICANT LOCATIONS OF OPERATION WELLFARFFA E BENEFITS 1. CMIMIM M healea th and maternity insurance scheme 2. Solidaid ritty fund 3.. EEmergencynnccy assistance 4.4 Other typyyppees of insurance • On-deatth and ppyermanent disability insurance • Occupatp tionioo al injury insurance • Housingg lloan insurance • Sports injinnjjuries insurance SICKNESSSS AND MATERNITY BENEFITS 1. CNSS daila y sickness allowance 2. RMAA Watanta ya daily sickness allowance 3. CNSNSS dailai y maternity allowance RETIREREMENT BENEFITS 1.1 CoC mpumpp lsol orryy retirement scheme 2. CaiC sse Innterproproofessionnelle Marocaine de Retraite retirement scheme 3. Supuppplep menme tarta y retirement scheme Table NNo.9 BONO USESSES AND OOTHER EMPLOYEE BENEFITS 1. Bonuseuses • Marrrrriaggeeb bonus • New-w-boborn babyaby bonus • Acchouru a bob nuss • Educdu atiat onn bonus ••P Pililglggrimimmageag bonus • Aïd AlA Adhaa bonus • OuO isssas m Achoghg lee bonus • Retiet remre ent allowance 2.2 Inttererest-free loans and subsidised loans • Socicciiala loans for events • Loanaans for family needs • Carr lloaoans • Hoousingngg lloansnsn 3.3 Other socialaal benefits • Holilidayday centrees • Summer campsps • Stafaff cantann een • BMCE BaB nk Club LEAAVE 1.1 AnnAnnnual holidayy entitlement 2.2 HHolidayyps and special events 3.. MatM ernity leave Mixedd occupapational health and safety committees are organised by Group Human Capital comprising: CChairmman:aan Chief Executive Officer Head or Deputy Head of Group Human Capital GroGGr up Humumman Capital Head of CSM representnttatiata ves: Head of Employer-Employee Relations Trade union representatives Table NNo.10 Stataafff repepresesentataatives: Staff representatives Occupational physicians Membebers: Representatives of the Security department Social worker b.b Indndicate the percentage of total staff represented on these mixed committees: 100% of staff are represented on mixed commmittees

Tabable No.11 In 2018,, eacea h employee received 21 hours of training on average OfO thoh see employees receiving training, 37% were women and 63% men

Tabablee No.12 40505-1:: PEERCER ENTAAGEG OF MANAGERS IN THE TOTAL WORKFORCE Thehe oorganisatiotion shall report the following information: a.a. PeP rcentagee of individuals within the organisation’s governance bodies in each of the following diversity categories: i.. GGender; iii.. Age grouup: undu er 30 years old, 30-50 years old, over 50 years old; iiiii . Other inndicicaators of diversity where relevant (such as minority or vulnerable groups). ((cf. Goveveernaanncenc and Management)g) b. Perccente agegee of employees per employee category in each of the following diversity categories: i.. Gendend r; ii.. Agge groupp: under 30 years old, 30-50 years old, over 50 years old; iii. Othher indicdi ators of diversityy where relevant ((such as minorityy or vulnerable grog upsp ).) BMCE Bank Gende er 2018 % MMen 3229 61% Women 2099 39% Total 5328 100%

Managerss 2018 % Wommen 326 28% Menn 823 72% Totala 1149 100%

Byy agege grg ououpu 2018 % Lesesss thanhan 30 yey arsarr 1080 20% 30-550 yeae rss 3625 68% Mororeet thanann 50 years 623 12% Total 5328 100%

BMCE Bank 2018 Categogoryy Men Women % Men % Women Managegerial 1950 1386 37% 26% Graraded 956 566 18% 11% EmpEm loyoyyeees 112 69 2% 1% UncUnU lasasssifis ed 211 78 4% 1% TotTo al 3229 2099 100% 5328

By age ggroupp 2018 % Lesssst thanha 300 yeearsar 1080 20% 330-500 yeay arsr 3625 68% Morreet thanan 550 years 623 12% Tototalal 5328 100%

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BMCE BANK

PO Box 20039 Casa Principale Tel: 05 22 20 04 92/96 Fax: 05 22 20 05 12 Share capital: MAD 1,794,633,900 Swift: BMCEMAMC Telex: 21931 - 24004 Commercial register: Casablanca 27129 CCP: Rabat 1030 CNSS: 10.2808.5 Tax ID number: 01085112 Trading licence: 35502790

Group Corporate Governance and Development – Sustainable Development & CSR

Tel: 05 22 49 80 18 / 05 22 46 28 06 Fax: 05 22 26 49 65 E-mail: [email protected]

BMCE Bank’s website www.bmcebank.ma www.notremondeestcapital.com

International trade website www.bmcetrade.com

BMCE Capital’s website www.bmcecapital.com

ARTISTIC DIRECTOR: AMINA BENNANI – PRINTING: DIRECT PRINT

S U S T A I R N E A P B O I R L T I T Y