Societe Generale : Premium Review - 02/12/2022

SOCIETE GENERALE

Premium Review 02.12.2022

DISCLAIMER	looking statements are based on a series of assumptions, both general and specific, in particular the application of accounting principles and
		This presentation contains forward-looking statements relating to the targets and strategies of the Societe Generale Group. These forward-
		methods in accordance with IFRS (International Financial Reporting Standards) as adopted in the European Union, as well as the application of
		existing prudential regulations. These forward-looking statements have also been developed from scenarios based on a number of economic
		assumptions in the contextof a given competitive and regulatory environment. The Group may be unable to:
		anticipate all the risks, uncertainties or other factorslikely to affect its business and to appraise their potential consequences;
		evaluatethe extentto which the occurrenceof a risk or a combinationof risks couldcauseactualresultsto differ materiallyfromthose provided
		in this document and the related presentation.
		Therefore, although Societe Generale believes that these statements are based on reasonable assumptions, these forward-looking statements
		are subject to numerous risks and uncertainties, in particular in the Covid-19 crisis context, including matters not yet known to it or its
		management or not currently considered material, and there can be no assurance that anticipated events will occur or that the objectives set
		out will actually be achieved.
		Important factors that could cause actual results to differ materially from the results anticipated in the forward-looking statements include,
		among others, overall trends in general economic activity and in Societe Generale's markets in particular, regulatory and prudential changes,
		and the success of Societe Generale's strategic,operating and financial initiatives.
		More detailed information on the potential risks that could affect Societe Generale's financial results can be found in the section
		"Risk Factors" in our Universal Registration Document filed with the French Autorité des Marchés Financiers (which is available on
		https://investors.societegenerale.com/en). Investors are advised to take into account factors of uncertainty and risk likely to impact the
		operations of the Group when considering the information contained in such forward-looking statements. Other than as required by applicable
		law, Societe Generale undertakes no does not undertake any obligation to update or revise any forward-lookinginformation or statements.
		Unless otherwise specified, the sources for the business rankings and market positions are internal. This presentation includes information
		pertaining to our markets and our competitive positions therein. Such information is based on market data and our actual revenues in those
		markets for the relevant periods. We obtained this market information from various third-party sources (publications, surveys and forecasts)
		and our own internal estimates. We have not independently verified these third party sources and cannot guarantee their accuracy or
		completeness and our internal surveys and estimateshave not been verified by independent experts or other independent sources.

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NINTH QUARTER OF SOLID PERFORMANCE

STRONG BUSINESS PERFORMANCE SOLID BALANCE SHEET

Revenue growth in all businesses

• 10.4% vs 9M 21

Positive jaws

+5.4% in underlying costs in 9M 22

Improved cost/income ratio

59.6%(1) in 9M 22

Solid gross operating income

EUR 7.9bn(3) +20.0% vs 9M 21

Strong CET1

13.1%(2) at end Q3 22 ~380 bps over MDA

Contained cost of risk

29 bps in 9M 22

o/w limited S3 at 14 bps (incl. Russia)

Prudent provisioning

EUR 3.8bn

S1/S2 asset provisions at end of Q3 22

2022 funding programme achieved

STRONG RESULTS

NET RESULT

EUR 4.5bn(3) in 9M 22 EUR 0.9bn reported

ROTE

10.4%(3) in 9M 22

1. In 9M 22, underlying data adjusted for exceptional items and excluding SRF (2) Including IFRS 9 phasing, i.e. 12.9% fully loaded. Based on CRR2/CRD5 rules, including the Danish compromise for Insurance(see Methodology) (3) Underlying data adjusted for exceptional items

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MOVING FORWARD ON OUR STRATEGIC ROADMAP

FINANCIAL TARGETS

French

Networks

BERNSTEIN

CREATION OF A LANDMARK RETAIL BANK

Legal merger confirmed on January 1st 2023

IT migrations in H1 23

DEFINITIVE LEADER IN ONLINE BANKING

4.5M clients reached in November

A sizeable player in the French market

CREATION OF A LEADING GLOBAL PLAYER IN MOBILITY

Main regulatory approvals obtained

Launch of ALD rights issue

Closing of the acquisition expected in Q1 23

CREATIONOF A GLOBAL LEADER IN CASH EQUITIES

Closing expected before the end of 2023

Top 3	10%
Client satisfaction	RONE in 2025

~EUR 200m	>25%
Net Result in 2025	RONE(1) in 2025

+70 to +80 bps	~-40 bps
2024 ROTE uplift(2)	Impact on CET1 ratio at closing

+15 to +20 bps	~-10 bps
ROTE uplift(3)	Impact on CET1 ratio(4) at closing

1. Under IRBA (2) Computed based on 2024 net income group share post AT1 cost consensus estimate (Factset end 2021), including fully phased run rate synergies and excluding restructuring costs, divided by average tangible shareholders' equity (3) Impact of expected target incremental net income in 2028, based on Societe Generale's 51% stake in the joint venture and including all synergies, on profitability (ROTE) estimated by the analysts' consensus in 2026 (Visible Alpha at 24/10/2022), calculated on the average tangible equity of the consensus adjusted for the capital impact of the contemplated transaction at the closing date (4) Impact at the closing date of the transaction on the Group's CET1 ratio

estimated by the analyst consensus for the fourth quarter of 2023 (Visible Alpha calculated on 10/24/2022).	PREMIUM REVIEW | 2 DECEMBER 2022	| 4

EXECUTING OUR SUSTAINABILITY AMBITION

Accelerating portfolio	Accompanying our clients through
decarbonisation	partnerships and innovation

UPSTREAM OIL ANDGAS

Exposurereductiontarget strengthened to -20%

(from -10%) by 2025 vs 2019

New target of -30% scope 3 absolute emissions by 2030 vs 2019

More ambitious than the NZE scenario(1)

POWER

Improved intensity target of 125 gCO2e/kWh

by 2030

More ambitious than the NZE scenario(1)

Equityinvestment in impact rating agency Impak Finance, with a commercial partnership to scale-up E&S assessment of corporate clients

Equityinvestmentin

greentechEcoTree, supporting biodiversity solutions

100% acquisition by KB of

Enviros, an ESG consultancy company, to support KB's expansion in energy and environmental advisory

Partnership with Carbo,

supporting our French corporate and retail clients to measure their carbon footprint

	EXTENDING	Founding signatory of the		Investment Bank of the Year for Asia, recognised for innovation in supporting
	LEADERSHIP	Sustainable Steel Principles		clients in their sustainability transitions
		Investment Bank of the Year for Sustainability-Linked Loans
(1) IEA (International Energy Agency) Net Zero Emissions scenario
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