Attijariwafa bank As of 30 June 2019 Financial Communication 2019 AWB in a nutshell 2 1 ° Largest financial institution in Morocco by assets and market capitalization (USD 10.2 bn¹), # 1 in North Africa and #6 in Africa by total assets ° #1 retail and corporate bank in Morocco with undisputable leading factories across products A Pan African Banking Group ° One of the most attractive and diversified pan-African footprint – presence in 15 countries in the Maghreb, West and Central Africa – with top 5 positions in its key markets ° Unique sizeable platform with ambition to create a truly integrated banking player across the region 2 ° Morocco, which represents c. ~75.2% of AWB’s balance sheet, is one of the most attractive markets in Africa given its strong growth prospects – real GDP annual growth of 2.7% 3 in 2019 E and 3.4% 3 in 2020 F– and a sophisticated, prudent and resilient banking system A Dynamic Platform Dominating ° Leading franchise in Morocco, illustrated notably by its commercial dynamism with 6.1% CAGR of customer loans 4 growth over the last years the Market in Morocco with (2008-H1 2019). The loans market share amounted to 27.1% as of June 2019. Further Potential to Exploit ° Leading immigrant banking provider for Moroccans Living Abroad (“MLA”) based on an expertise built since the 70’s ° Further upside potential in Morocco driven by increased penetration, growing needs in volumes of Moroccan clients and additional sophistication of banking products 3 ° Economies in French speaking African countries where AWB has presence are expected to grow significantly over the coming five years in real terms A Unique Pan-African, Large and Diversified Platform with ° Target countries banking penetration set to increase and “catch-up” on current Moroccan market levels Significant Growth Potential ° AWB has set up a clear development strategy in Africa since 2005 through greenfields or acquisitions ° Roll-over of the Moroccan successful business model in African countries which have cultural proximity and similar development trends is expected to deliver high medium term growth 4 ° Highly experienced management team with a proven track-record in delivering growth, profitability and integrating acquisitions Highly Experienced Management ° Well established planning culture based on detailed 5-year strategic plans and disciplined management Team and Best in Class Corporate Governance Standards ° High corporate governance standards, with best in class practices in terms of transparency and independence of risk committee 5 ° Healthy balance sheet focused on customer deposits and high quality diversified loan portfolio A Liquid and Solid Balance Sheet ° Solid capital ratios with a resilient combined solvency ratio (T1+T2) of 12.6 % and a 10.0% Core Tier 1 ratio (Basel III - as of 06/30/2019) 6 ° Strong growth over the last years (2008-H1 2019) with a 7.6% CAGR of the net banking income Superior Operating and Financial ° Highly profitable bank with a 17.9% RoATE in H1 2019 (USD 306.6 m net income group share) thanks notably to operational efficiency Performance excellence (AWB cost-income ratio of 46.8% in H1 2019) and adequately leveraged balance sheet Note: USD/MAD : 9.5718 as of 30 June 2019 (1) As of 30 June 2019 (2) As of 31-Dec-2017 2 (3) ) High Commission for Planning of Morocco Forecast – July 2019 (4) Excluding loans provided by the bank to Specialized Financial Companies Financial Information & Investor Relations A Large and Diversified Banking Player in Africa 1 Key Highlights Key Financials ° Created in 2004 through the merger of two long established 2018 12-18 Moroccan banks, Banque Commerciale du Maroc (founded in Key P&L items (MADm) 2012 2018 H1 2019 USDm CAGR (%) 1911) and Wafabank (founded in 1904), AWB is the largest bank in Net Banking Income17,049 22,371 11,777 2,337 4.6% 3 North Africa and #6 in Africa by total assets 1 Expenses(7,684) (10,713) (5,506)(1,119) 5.7% Cost of risk (1,222) (1,724) (914) (180) 5.9% ° AWB is a universal bank in Morocco operating in a wide range of Profit before tax 8,173 9,999 5,375 1,045 3.4% activities, including retail banking, insurance, consumer finance Net income group share 4,501 5,706 2,935 596 4.0% and corporate & investment banking Key Ratios ° AWB is a major pan-African player: the Group has accelerated its Cost-income Ratio 45.1%47.9% 46.8% growth in Africa over the last years, notably through the Cost of risk on average loans 49 bps53 bps 56 bps RoATE 21.9%18.0% 17.9% acquisitions of Banque du Sud (now Attijari bank Tunisie) in 2005 4 CoreTier1 Ratio 9.1% 10.2% 10.0% 4 and the Crédit Agricole retail banking network in Africa in 2009 Total Capital ratio 11.9% 13.0% 12.6% ° Leading bank for the 3.5m strong Moroccan diaspora in Europe with its 64-branch network in 8 European countries. Moroccans Net Banking Income Breakdown Living Abroad (“MLA”) account for 21.2% of total deposits in Net banking income (H1 2019): Morocco 5.7% MAD 11.8 bn - US$ 1.2 bn ° Globally, AWB operates a network of 5,024 and had 20,346 10.6% employees as of 30 June, 2019 managing more than 9.9 m customers. The Group generated an NBI of MAD 11.8 bn as of 30 51.9% June, 2019 (c. USD 1.2 bn) ° AWB is listed on the Casablanca stock exchange with a market Banking in Morocco, Europe and Offshore capitalization of c.USD 10.2 bn (as of 06/30/2019 ) and its 31.8% International Retail Banking reference shareholder Al Mada² owns 46.4% of the share capital Specialized Financial Companies Insurance Note: USD/MAD FX as of 30 June 2019: 9,5718 (1) As of year end 2017 (2) Al Mada (ex-SNI) is one of the largest investment holding companies in Morocco (3) Including amortization, depreciation and impairment of tangible and intangible fixed assets (4) Starting from 2014, figures comply with Basel III 3 Financial Information & Investor Relations A Well Diversified Business Model 1 NBI in BMET by Revenue Line 1 Breakdown of Moroccan Companies’ NBI Net banking income (H1 2019): Total Net banking income (H1 2019): Wafa LLD Attijari Factoring MAD 1.9 bn - USD 0.2 bn MAD 11.8 bn - US$ 1.2 bn Wafa 5.2% 2.2% Immobilier 9.2% Wafa Wafabail Assurance 9.2% BMET: Net banking income (H1 2019) 2: Bank Morocco, Morocco 2 35.0% SFC and MAD 6.2 bn – USD 0.6 bn Europe and Wafacash Insurance: Capital Offshore: 11.8% 16.3% of markets 51.9% of income H1 2019 NBI H1 2019 NBI Wafasalaf 18% 27.4% ° Cross-selling of large product breadth Net interest 2 Fees and ° Ability to offer multiple products per customer income 1 commissions 1 61% 3 Breakdown of International NBI by Geography 21% Mauritania Net banking income (H1 2019): 2.2% Mali Togo MAD 3.8 bn - USD 0.4 bn Congo 4.4% 1.3% International: 4.5% Tunisia 31.8% of 19.8% ° Mostly interest income driven, more resilient and less volatile H1 2019 NBI Gabon 9.6% Cameroon 3 9.5% Senegal 19.1% Egypt 14.7% Ivory Coast 14.8% ° Increased contribution of international activities ° Widely spread across countries which reduces dependence on macro economic performance of one geography Note: USD/MAD : 9.5718 as of 30 June 19 (1) Exclude a MAD 0.5m net loss from other revenue lines 4 (2) Include a MAD 0.5m net loss from other revenue lines Financial Information & Investor Relations A Successful International Development Strategy 1 over the Last Decade Market Share in 24.9% 25.9% 25.7% 27.0% 27.1% Morocco 1 21.6% 22.6% 25.0% 25.4% 25.6% 25.6% 25.8% 26.0% 26.4% 26.3% 26.4% African Footprint 0 1 2 2 4 8 10 11 11 13 13 13 13 14 14 14 (excl. Morocco) 2 32000 120 98.5 28000 95.1 97.8 NBI – Group 100 84.1 24000 NBI – International 78.5 AWB market cap. (end of year) 80 20000 67.6 70.0 68.8 63.0 22,371 59.4 62.1 16000 21,645 60 49.7 52.1 44.4 19,673 12000 18,997 19,450 40 17,049 17,877 11,777 15,882 8000 23.9 14,667 18.3 10,967 13,255 8,793 20 bn) (MAD capitalizationMarket 7,415 Net Banking Income (MAD m) Income (MAD NetBanking 4000 33% 34% 5,114 5,637 26% 28% 29% 24% 25% 26% 32% 9% 15% 22% 0 7% 14% 0 2004 2005 2006 2007 2008 2009 20102011 20122013 2014 2015 2016 2017 2018 H1 2019 Oct-16 April-08 July-06 May-11 - Acquisition of the - Acquisition of a 79% stake Start of AWB Acquisition of a 51% majority stake in in CBAO in Senegal by operations in Senegal stake in SCB Cameroon Cogebanque in Rwanda AWB, ONA and SNI (ongoing closing) - Start of presence in Guinea May-17 Bissau following the September-05 - Acquisition of a 100% acquisition of CBAO December-10 - Banking license granted to open a stake in Barclays Egypt November-08 - Acquisition by a consortium formed subsidiary in Senegal - Acquisition of a 51% stake by AWB (67%) and Groupe Banque Sept-15/Dec-15 in BIM (Mali) Populaire (33%) of a 80% stake in BNP - Increasing stake in the November-05 December-08 Paribas Mauritanie share capital of SIB (75%) - Acquisition of a 54% stake in Banque du - Merger of Attijari Bank - Launch of banking activities in Burkina and CBAO (83%) Sud in Tunisia by a consortium of AWB and Sénégal and CBAO Faso - Launch of banking Grupo Santander activities in Benin - Creation of Attijariwafa Bank Europe February-09 - Representative office opening in Libya Sept-13 Jan-07 September, December-09 - Acquisition of a 55% stake in BIA Acquisition of a 67% stake in - Acquisition of Crédit du Congo and l’Union -Togo by Attijariwafa bank Banque Senegalo-Tunisienne December-04 Gabonaise de Banque from Crédit Agricole Nov-13 BCM/Wafabank Merger (BST) followed by a merger - Acquisition of Société Ivoirienne de Banque and - Launch of banking activities in with AWB Senegal Crédit du Sénégal from Crédit Agricole Niger Note: Dates mentioned for M&A