1st Quarter Results for 2014

Q1 14: GOOD OPERATING PERFORMANCES IN A STILL SLUGGISH ENVIRONMENT

-  Group revenues: EUR 5.8bn, up +3.3% vs. Q1 13
-  Book net banking income: EUR 5.7bn, +18.8%* vs. Q1 13
-  Stable operating expenses*: +0.2%* vs. Q1 13
-  Sharp decline in the cost of risk (65bp)(1): -27.1%* vs. Q1 13
-  Improvement in operating income** to EUR 1,287m in Q1 14 (vs. EUR 745m in Q1 13)
-  Finalisation of the acquisition of Newedge Group
-  Goodwill write-down on Russian activities: EUR -525m impact on Group net income,
-  Group net income reduced from EUR 941m to EUR 416m (EUR 798m in Q1 13)
-  Book Group net income: EUR 315m
-  Increase in the CET1 ratio to 10.1%

EPS: EUR 0.30