Credit Agricole S A : Amendment A04 to the Universal Registration Document 2020 - Financial review at 30 September 2021

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A04 AMENDMENT TO THE UNIVERSAL REGISTRATION DOCUMENT

30 September 2021

A04 Amendment to the Universal Registration Document 2020

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Disclaimer

The financial information on Crédit Agricole S.A. and Crédit Agricole Group for third quarter and first nine months of 2021 comprises the press release, the presentation and the attached appendices which are available on the website: https://www.credit-agricole.com/en/finance/finance/financial-publications.

This dpcument may include prospective information on the Group, supplied as information on trends. This data does not represent forecasts within the meaning of EU Delegated Act 2019/980 of 14 March 2019 (chapter 1, article 1, d).

This information was developed from scenarios based on a number of economic assumptions for a given competitive and regulatory environment. Therefore, these assumptions are by nature subject to random factors that could cause actual results to differ from projections. Likewise, the financial statements are based on estimates, particularly in calculating market value and asset impairment.

Readers must take all these risk factors and uncertainties into consideration before making their own judgement.

Applicable standards and comparability

The figures presented for the nine-month period ending 30 September 2021 have been prepared in accordance with IFRS as adopted in the European Union and applicable at that date, and with prudential regulations currently in force. This financial information does not constitute a set of financial statements for an interim period as defined by IAS 34 "Interim Financial Reporting" and has not been audited.

Note: The scopes of consolidation of the Crédit Agricole S.A. and Crédit Agricole Groups have not changed materially since the Crédit Agricole S.A. 2020 Universal Registration Document and its A.01 update (including all regulatory information about the Crédit Agricole Group) were filed with the AMF (the French Financial Markets Authority).

The sum of values contained in the tables and analyses may differ slightly from the total reported due to rounding.

On 30 June 2020, once all necessary regulatory approvals were secured, Amundi acquired the entire share capital of Sabadell Asset Management.

At 30 June 2021, following the buyback by Crédit Agricole Consumer Finance of 49% of the share capital of the CACF Bankia S.A. joint venture, CACF Bankia S.A. is fully consolidated in Crédit Agricole S.A.'s consolidated financial statements.

As at 30 June 2021 following the takeover bid launched by Crédit Agricole Italia for Credito Valtellinese, 100% of Credito Valtellinese is held by Crédit Agricole Italia and is fully consolidated in the consolidated financial statements of Crédit Agricole S.A.

The English version of this present Amendment A04 to the Universal Registration Document was filed on 17 November 2021 with the AMF, as competent authority under Regulation (EU) 2017/1129, without prior approval pursuant to Article 9 of the said regulation.

The Universal Registration Document may be used for the purposes of an offer to the public of securities or admission of securities to trading on a regulated market if completed by a securities note and, if applicable, a summary and any amendments to the Universal Registration Document. The whole is approved by the AMF in accordance with Regulation (EU) 2017/1129.

This is a translation into English of the Amendment A04 to the Universal Registration Document of the Company issued in French and it is available on the website of the Issuer.

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Disclaimer ........................................................................................................................................	2
Applicable standards and comparability ...........................................................................................	2
Press Release : Crédit Agricole Q3-21 and 9M-21 RESULTS ........................................................	4
Crédit Agricole Group ......................................................................................................................	6
Crédit Agricole S.A. ........................................................................................................................	12
Financial strength...........................................................................................................................	33
Liquidity and Funding ....................................................................................................................	37
Slides from presentation of results ...............................................................................................	52
Slides - Appendices........................................................................................................................	85
Financial strength.........................................................................................................................	114
Liquidity and Funding ..................................................................................................................	120
Corporate governance..................................................................................................................	126
Evolution of governance bodies ...................................................................................................	126
Composition of the Executive Committee as of 1 September 2021 ..............................................	126
Composition of the Management Committee as of 1 October 2021..................................................	127
Specialised Committees of the Board..........................................................................................	130
Evolution des risques juridiques ...................................................................................................	132
PILLAR 3 DISCLOSURES .............................................................................................................	139
Other recent information..............................................................................................................	146
Press releases .............................................................................................................................	146
Person responsible for the Amendment to the Universal Registration Document ..................	147
Statutory auditors.........................................................................................................................	148
Alternative Performance Indicators.............................................................................................	149
General information......................................................................................................................	151
Financial agenda..........................................................................................................................	151
Cross-reference tables .................................................................................................................	152
Incorporation by reference ...........................................................................................................	152
Cross reference table ...................................................................................................................	153

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Press Release : Crédit Agricole Q3-21 and 9M-21 RESULTS

Record high 9-month-2021 results, continuing the trend.

Full unwinding of the switch

		CRÉDIT AGRICOLE GROUP				CRÉDIT AGRICOLE S.A.
		Stated	Underlying			Stated	Underlying
9M net		€6,746m	€6,201m			€4,416m	€3,962m
income		+62.2% 9M/9M	+31.9% 9M/9M			+71.9% 9M/9M	+37.9% 9M/9M
Q3 net		€2,222m	€2,235m			€1,402m	€1,414m
income		+25.7% Q3/Q3	+15.6% Q3/Q3			+43.5% Q3/Q3	+26.7% Q3/Q3
Revenues		€8,969m	€8,972m			€5,531m	€5,535m
	+5.9% Q3/Q3	+6.1% Q3/Q3			+7.4% Q3/Q3	+7.6% Q3/Q3
Costs excl.		-€5,452m	-€5,438m			-€3,259m	-€3,245m
SRF		+7.0% Q3/Q3	+6.8% Q3/Q3			+9.0% Q3/Q3	+8.6% Q3/Q3
GOI		€3,516m	€3,535m			€2,272m	€2,290m
	+4.3% Q3/Q3	+5.0% Q3/Q3			+5.2% Q3/Q3	+6.2% Q3/Q3
Cost of risk		-€403m	-€403m			- €266m	-€266m
	-32.3% Q3/Q3	-32.3% Q3/Q3			-56.1% Q3/Q3	-54.0% Q3/Q3
C/I ratio	60.8%	60.6%		58.9%	58.6%
(excl. SRF)		+0.6 pp Q3/Q3	+0.4 pp Q3/Q3			+0.9 pp Q3/Q3	+0.5 pp Q3/Q3

CRÉDIT AGRICOLE S.A. RESULTS DRIVEN BY THE SURGE IN REVENUES Stated net income +43.5% Q3/Q3 to €1,402m; +71.9% 9M/9M to €4,416m Underlying net income: +26.7% Q3/Q3 to €1,414m; +37.9% 9M/9M to €3,962m

Strong business momentum, 1,311,000 new customers over 9M-21 in Retail banking Revenues +4.4% Q3/Q3, +7.3% 9M/9M excluding scope effect1, +9.1% Q3/Q3-2019 Expenses +3.8% Q3/Q3, +3.4% 9M/9M excluding scope effect1, +7.3% Q3/Q3-2019

Gross operating income +5.3% Q3/Q3, +13.0% 9M/9M excl. scope effect1, +11.9% Q3/Q3-19 Cost/income ratio 57.2% for 9M-21, MPT target reached

Cost of risk 24 bp (annualised quarter basis), coverage ratio up

PROFITABILITY AND FINANCIAL POSITION AMONG THE SECTOR'S BEST IN EUROPE

		CRÉDIT AGRICOLE GROUP				CRÉDIT AGRICOLE S.A.
Phased-in
17.4%	+10 bp Sept/June	12.7%	+10 bp Sept/June
CET1
		+8.5 pp above SREP requirements			+4.8 pp above SREP requirements
							 9M-21 ROTE 13.1%2

1. For the calculation on a like for like basis, excluded entities for 2021 : Creval, CA Serbia, JV Amundi Bank of China, Fund Channel, Anatec, Sabadell, CACF NL, So You, Kas Bank ; excluded entities for 2020 : CA serbia, Via Vita, IWM Miami and Brazil, CACF NL ; excluded entities for 2019 : CA serbia, CA Romania, Via Vita, IWM Miami and Brazil, CACF NL
2. Underlying ROTE calculated on the basis of annualised underlying net income Group share and annualised IFRIC costs

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SHAREHOLDER FRIENDLY REMUNERATION, OVER TIME

21/09/21: completion of the first share buyback for €559m

05/10/21: launch of the second share buyback for €500m

16/11/21: full unwinding of the Switch (CET1 impact -60 bp,3 net income full-year impact €+104m)

• The 50% cash dividend distribution policy target will have been respected over the span of the MTP

STRENGTH OF THE UNIVERSAL CUSTOMER-FOCUSED BANKING MODEL

Constantly renewed organic growth potential, enhanced by acquisitions and partnerships, and by the launch of new businesses

Launch of CA Mobility, CA CF/CAL&F long-term vehicle leasing offering in France

Acquisition of Olinn by CAL&F to extend the offering to business equipment management services Launch of a leasing business in Germany

Since 2019: acquisition of Credito Valtellinese, KAS Bank, GNB Seguros, Sabadell AM; creation of Amundi Technology, and of the Amundi - Bank of China joint venture; partnership agreements signed with Banco Sabadell, Abanca; expansion of Azqore.

CLIMATE COMMITMENTS

CRÉDIT AGRICOLE GROUP

• Commitment of all of the Group's business lines to the Net Zero initiatives

(Net Zero Banking Alliance, Net Zero Asset Owners'

Alliance)

• No. 1 provider of renewable energy financing in France
• No. 1 responsible investor in Europe

CRÉDIT AGRICOLE S.A.

CACIB: +60% exposure to non-carbon energy by 2025

Amundi: +€20bn of investments in funds with a positive impact target by 2025

CAA: X2 investments in renewable energy installations by 2025

CACIB: -20% oil production financing by 2025

Dominique Lefebvre,

Chairman of SAS Rue La Boétie and Chairman of the Crédit Agricole S.A. Board of Directors

"The Group, building upon its Raison d'être and its financial strength, wants to create the conditions for a new model of prosperity, that will result in progress for all. We will present our societal commitments for climate, for agriculture and the agri-food industry, and for social cohesion, on 1 December 2021."

Philippe Brassac,

Chief Executive Officer of Crédit Agricole S.A.

"We are reporting excellent results, at all-time highs, in keeping with previous quarters. Business is strong, driven in particular by the effectiveness of public measures. The Group's Universal Customer-focused Banking model allows for steady revenue growth and gives us one of the sector's highest profitability rates in Europe."

3 Estimated based on CET1 level and risk weighted assets at end September 2021; the impact will be recognised in Q4-21

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