BNP Paribas Fortis : Annual Report 2022 BNP Paribas Fortis sa

BNP PARIBAS FORTIS SA/NV

ANNUAL REPORT 2022

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INTRODUCTION

BNP Paribas Fortis is a limited liability company (naamloze vennootschap (NV)/société anonyme (SA)), incorporated and existing under Belgian law, having its registered office address at Warandeberg 3, 1000 Brussels and registered under number BE VAT 0403.199.702 (hereinafter referred to as the 'bank' or as 'BNP Paribas Fortis').

The BNP Paribas Fortis annual report 2022 contains both the audited consolidated and non-consolidated financial statements, preceded by the report of the Board of Directors, the statement of the Board of Directors and a section on corporate governance including the composition of the Board of Directors. The audited BNP Paribas Fortis consolidated financial statements 2022, with comparative figures for 2021, prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union, are followed by the audited non-consolidated financial statements 2022 of BNP Paribas Fortis, prepared on the basis of the rules laid down in the Belgian royal decree of 23 September 1992 on the annual accounts of credit institutions.

The BNP Paribas Fortis annual report 2022 is available in English, French and Dutch. The English version is the original one while the other versions are unofficial translations. Every effort has been made to ensure that the language versions correspond to one another. If one difference should exist, the English version would take precedence.

It is considered that the information included in the note 7.j 'Scope of consolidation', together with the information included in the report of the Board of Directors and in the corporate governance statement, complies with the requested information in article 168, §3 of the Belgian act of 25 April 2014 on the legal status and supervision of credit institutions.

All amounts in the tables of the consolidated financial statements are denominated in millions of euros, unless stated otherwise. All amounts in the tables of the non-consolidated financial statements are denominated in thousands of euros, unless stated otherwise. Because figures have been rounded off, small discrepancies with previously reported figures may appear. Certain reclassifications have been made with regard to the prior year's financial statements in order to make them comparable for the year under review.

All information contained in the BNP Paribas Fortis annual report 2022 relates to the BNP Paribas Fortis consolidated and non-consolidated financial statements and does not cover the contribution of BNP Paribas Fortis to the BNP Paribas Group consolidated results, which can be found on the BNP Paribas website:www.bnpparibas.com.

BNP Paribas Fortis refers in the consolidated financial statements to the BNP Paribas Fortis SA/NV consolidated situation unless stated otherwise. BNP Paribas Fortis refers in the non-consolidated financial statements to the BNP Paribas Fortis SA/NV non-consolidated situation, unless stated otherwise.

This annual report 2022 is a reproduction of the official version of the 2022 Annual Report of BNP Paribas Fortis annual that was prepared in ESEF (European Single Electronic Format) format and is available on the website:www.bnpparibasfortis.com.

CONTENTS

Introduction 3

BNP PARIBAS FORTIS CONSOLIDATED ANNUAL REPORT 2022 9

Report of the Board of Directors 10

• ƒ A word from the Chairman and the CEO 10

• ƒ Economic context 14

• ƒ Core Businesses 15

• ƒ Corporate Social Responsibility (CSR) 22

• ƒ Changes in the scope of consolidation 26

• ƒ BNP Paribas Fortis credit ratings at 10/02/2023 26

• ƒ Forward-looking Statements 26

• ƒ Comments on the evolution of the results 27

• ƒ Comments on the evolution of the balance sheet 29

• ƒ Liquidity and solvency 31

• ƒ Principal risks and uncertainties 31

Statement of the Board of Directors 32

Corporate Governance Statement 33

BNP PARIBAS FORTIS CONSOLIDATED FINANCIAL STATEMENTS 2022 45

ƒ Profit and loss account for the year ended 31 December 2022 46

• ƒ Statement of net income and change in assets and liabilities recognised directly in equity 47

• ƒ Balance sheet at 31 December 2022 48

• ƒ Cash flow statement for the year ended 31 December 2022 49

• ƒ Statement of changes in shareholders' equity between 1 January 2021 and 31 December 2022 50

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 2022 51

1

Summary of significant accounting policies applied by BNP Paribas Fortis 52

• 1.a Accounting standards

  52

• 1.b Segment reporting

  53

• 1.c Consolidation

  53

• 1.d Translation of foreign currency transactions

  58

• 1.e Net interest income, commissions and income from other activities

  58

• 1.f Financial assets and liabilities

  59

• 1.g Property, plant, equipment and intangible assets

  71

• 1.h Leases

  73

• 1.i Assets held for sale and discontinued operations

74

• 1.j Employee benefits

  74

• 1.k Share-based payments

  75

• 1.l Provisions recorded under liabilities

  76

• 1.m Current and deferred tax

  76

• 1.n Cash flow statement

  77

• 1.o Use of estimates in the preparation of the financial statements

77

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