BPCE_REGISTRATION_DOCUMENT_2017

7 LEGAL INFORMATION

Statutory Auditors’ special report on related-party agreements and commitments

Statutory Auditors’ special report 7.6 on related-party agreements and commitments

Shareholder’sMeetingcalled toapprovethe financial statements for the fiscal year endedDecember31, 2017

BPCE Registered office: 50,avenue Pierre-Mendès-France 75013 Paris Share capital: € 155,742,320

To the shareholders, In our capacityas Statutory Auditors of your company, we hereby present our report on related-party agreements and commitments. We are required to inform you, on the basis of the informationprovided to us, of the key features, terms and conditions and purpose of the contractualagreementsand commitmentsindicatedto us or that we may have identifiedin the performanceof our assignment.It is not our role to comment as to whether they are beneficial or to ascertainwhether any other agreementsor commitmentsexist. It is your responsibility,in accordancewith Article R. 225-58 of the French CommercialCode, to assess the benefits resulting from these agreements and commitments prior to their approval. In addition,we are requiredto informyou in accordancewith Article R. 225-58of the French CommercialCode concerningthe executionduring Compagnienationaledes commissairesaux comptes (France’s National Associationof Statutory Auditors) relating to this assignment.Our work consisted in verifying that the information provided tous is consistent with the underlying documents from which it was extracted. For the purposes of this report: “BPCE” designatesthe central institutionresulting from the combinationof the networksof Caisse d’Epargneand Banque Populaire,a French ● limited liability company( sociétéanonyme ) with aManagement Board and a Supervisory Board since July 31, 2009; “CE Participations”designatesthe former Caisse Nationaledes Caisses d’Epargne(CNCE), a French limited liability company( sociétéanonyme ) ● with a ManagementBoard and a Supervisory Board, renamed CE Participationson July 31, 2009 in the modified form of a French limited liability company ( société anonyme ) with a Board of Directors, as the holding company for all of the Caisse d’Epargne network’s equity interests not transferred to BPCE in2009, and which wasmerged with BPCEthroughabsorptionon August5, 2010; “BP Participations”designatesthe former BanqueFédéraledes BanquesPopulaires(BFBP),a French limitedliabilitycompany( sociétéanonyme ) ● with a Board of Directors,renamedBP Participationson July 31, 2009 as the holdingcompanyfor all of the BanquePopulairenetwork’sequity interests not transferred to BPCE in2009 and whichwas merged with BPCE through absorptionon August5, 2010. the year of the agreements and commitments already approved bythe AnnualGeneralShareholders’Meeting. We performedthe procedureswe considerednecessaryto comply with the professionalcode of the

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Registration document 2017