Results 2nd quarter 2014

Good performance by the businesses, Group net income up 7.8%

- Net banking income: EUR 5.9bn in Q2 14 (EUR 6.1bn in Q2 13)
Businesses’ net banking income up +0.6%* vs. Q2 13
- Operating expenses down -1.3%* vs. Q2 13
- Sharp decline in the commercial cost of risk(1): 57 bp (67 bp in Q2 13)
- Group net income: EUR 1,030m (EUR 955m in Q2 13), higher in all the businesses
- ROE(2) of 8.8% in Q2 14, +0.4 points vs. Q2 13
- Basel 3 CET1 ratio: 10.2%

H1 14: Group net income of EUR 1,345m (EUR 1,319m in H1 13, +9.3%*)
- Net banking income: EUR 11,569m, up +5.2%* vs. H1 13
Lower operating expenses*: -0.9%* vs. H1 13
- Sharp decline in the commercial cost of risk(1): 61 bp (71 bp in H1 13)

EPS(2,3): EUR 1.64

* When adjusted for changes in Group structure and at constant exchange rates.
** Excluding non-economic items (revaluation of own financial liabilities and Debit Value Adjustment for EUR -23m in Q2 14 and EUR -176m in H1 14
in net banking income, or an impact on Group net income of respectively EUR -14m and EUR -115m. See methodology notes.
Items relating to financial data for 2013 have been restated due to the implementation of IFRS 10 and 11 which apply retrospectively as from January 1st,
2014.
(1) Excluding litigation issues, in basis points for assets at the beginning of the period. Excluding legacy assets in 2013.
(2) ROE and EPS calculated based on income after deducting interest, net of tax effect, to be paid to holders of deeply subordinated notes and undated
subordinated notes for H1 14 (respectively EUR -185 million and EUR -3 million), and correction of the effect of capital gains/losses on partial
buybacks recorded during the quarter (i.e. EUR +6 million in H1 14). See methodology notes No. 2 and 3.
(3) Excluding the revaluation of own financial liabilities, and DVA (Debit Value Adjustment on financial instruments as a result of the implementation of
IFRS 13, after deducting interest payable to holders of deeply subordinated notes and undated subordinated notes (see methodology note No. 3).
Earnings per share, including the revaluation of own financial liabilities and DVA amounts to EUR 1.49, after deducting interest payable to holders of
deeply subordinated notes and undated subordinated notes. See methodology note No. 3.