AFD - 2018 Registration document

PRESENTATION OF AFD

AFD Group

For five years now AFD has had a solid investor base in France and Europe. This investor base is also supplemented by international players in Asia, America and the Africa, Middle East region. This geographical diversity goes hand-in-hand with the type of investors. It can also be seen from the last graph that the portion of banking investors is declining only very slightly (26% in 2016, then 24%

in 2017 compared to 19% in 2018) despite the banking licence change AFD experienced in 2017. At the time, AFD’s spread had increased by around ten base points at all points of the curve before returning to 4 to 7 bps at the end of 2017. At the end of 2018 we can see that AFD’s spread has normalised and is back in line with that of its closest peers.

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1.5 AFD Group

1.5.1 Consolidation scope As part of its mission to finance development, AFD holds equity stakes in companies or organisations in the geographic areas in which it is active, i.e. foreign countries and the French Overseas Departments and Collectivities. The percentages of ownership and of voting rights shown below represent both direct and indirect investments. ❙ AFD Group – Consolidation scope at 31 December 2018

Equity percentage 31/12/2018

Equity percentage 31/12/2017

Percentage of control 31/12/2018

Percentage of control 31/12/2017

Countries Method (1)

France Mainland France Proparco

France France France

FC FC FC FC EQ EQ EQ

64.95 60.00

64.95 60.00

64.95 58.69

64.95 58.69

Sogefom

Fisea

100.00

100.00

100.00

100.00

French Overseas Departments and Collectivities Soderag

France – Guadeloupe France – NewCaledonia France – Martinique

100.00

100.00

100.00

100.00

SIC

50.00

50.00

50.00

50.00

Simar

Socredo Asia Propasia

France – Polynesia

35.00

35.00

35.00

35.00

Hong-Kong

FC

64.95

64.95

100.00

100.00

(1) FC: Full Consolidation – EQ: Equity method Details of the consolidation scope are given in §6.2.3.1 annexed to the consolidated financial statements. 1.5.2 Information about subsidiaries

Equity: €693,079,200 (excluding issue premium) AFD’s stake: 64.95%

The information below (company data in accordance with French accounting standards) sets out the principal data relating to the subsidiaries which are fully consolidated into the financial statements of AFD. PROPARCO – SOCIÉTÉ DE PROMOTION ET DE PARTICIPATION POUR LA COOPÉRATION ÉCONOMIQUE Purpose: To promote development projects, acquire equity stakes and grant loans in the regions in which AFD is mandated to operate Legal form: Financial public limited company ( société anonyme financière ) Head office: 151 rue Saint-Honoré, 75001 Paris

Other shareholders: French financial institutions (21.69%), private investors (1.67%), international financial institutions (11.03%), ethical foundations and funds (0.65%) Balance sheet total: €5,438.2M

Total net equity: €938.6M Equity stakes: €899.1M

Gross loan portfolio: €4,471.2M Net banking income: €143.5M SOGEFOM – (SOCIÉTÉ DE GESTION DES FONDS DE GARANTIE D’OUTRE-MER) Purpose: To provide a partial guarantee for financing operations undertaken by credit institutions with operations in the French

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REGISTRATION DOCUMENT 2018