Crédit Agricole S.A.’s 2022 Medium-Term Plan

On Thursday 6^th June, Crédit Agricole S.A. published its 2022 Medium-Term Plan in line with Amundi’s strategic ambitions announced in February 2018.

The main objective for Amundi mentioned in this Medium-Term Plan remains unchanged : to be among the global leaders in the asset management industry, thanks to:

• the quality of the expertise and services it offers to its clients;
• its strong growth and profitability trends;
• its position as a committed financial player, in line with the three-year action plan on Responsible Investment , announced in October 2018.

Furthermore, Amundi’s financial targets for the period of the new Plan are as follows:

• An average annual adjusted net income growth target¹ of +5%² between 2018 and 2022;
• A cost/income ratio of 53%¹ or less.

These financial objectives³ allow Amundi to confirm its 2020 profitability targets ⁴

• accounting net income ≥ €1bn,
• adjusted net income ≥ €1.05bn.

In addition, the dividend payout ratio will continue to be at 65%⁵.

<sup>1. Excluding amortisation of distribution contracts and, in 2018, excluding integration costs
2. Compared to 2018 adjusted net income, Group share, of €946m. This adjusted net income, Group share, excludes amortisation of distribution contracts and, in 2018, integration costs.
3. All of these objectives assume a neutral market effect over the period of 2018-2022
4. Press release of 9 February 2018.
5. Dividend payout ratio calculated using net income group share after amortization of distribution contracts</sup>