Societe Generale : Principles for Responsible Banking Report and Self-Assessment 2024

PRINCIPLES FOR RESPONSIBLE BANKING

REPORTING 2024

Principle 1:

Alignment

We will align our business strategy to be consistent with and contribute to individuals' needs and society's goals, as expressed in the Sustainable Development Goals, the Paris Climate Agreement and relevant national and regional frameworks.

Business model

Describe (high-level) your bank's business model, including the main customer segments served, types of products and services provided, the main sectors and types of activities across the main geographies in which your bank operates or provides products and services. Please also quantify the information by disclosing e.g. the distribution of your bank's portfolio (%) in terms of geographies, segments (i.e. by balance sheet and/or off-balance sheet) or by disclosing the number of customers and clients served.

Societe Generale is one of the leading European financial services groups. Based on a diversified and integrated banking model, Societe Generale combines financial strength and proven expertise in innovation with a strategy of sustainable growth, aiming to be a trusted partner for clients, committed to the positive transformations of the world. The Group employs over 126,000 people in 65 countries and supports 25 million individual customers), businesses and institutional investors around the world.

The Group's 3 core businesses offer a wide range of advisory services and tailored financial solutions to secure transactions, protect and manage assets and savings, help clients finance their projects, protect them in their day-today lives and professional activities, and provide innovative services and solutions.

For 2023, retail activities (France and International) represent 47% of our PNB, Global Markets and Investor Services 24%, Financing and Advisory 13%, and Mobility and leasing services about 16%.

Societe Generale has successfully passed key milestones in a number of strategic projects:

• a new SG-branded retail bank in France, formed by the merger of the Societe Generale and Crédit du Nord networks. The new bank sets out to provide a comprehensive range of ESG solutions (savings, financing and advisory);
• accelerated development of the Group's online bank BoursoBank through the consolidation of its leadership position in the French market with a client base of over 5.9 million; and the
• launch of Ayvens, the new global mobility brand created from ALD's acquisition of LeasePlan. It is positioned to become a global agent in the mobility ecosystem.

URD 2024

• Societe Generale presentation,(Chapter 1, Profile of Societe Generale, page 10)
• A clear strategy for a sustainable future,(Chapter 1.3, A clear strategy for a sustainable future, page 13)
• The Group's main activities Générale, (Chapter 2.1, page 30)
• Activity and results of the core businesses,page 34 Chapter 2
• Outstanding amounts and impairmentsby geographical region, chapter 6, page 510)
• Geographical breakdown of net banking income (in eurm)Chapter 6, page 571)
• Geographical breakdown of balance sheet items (in eurm)Chapter 6, page 571)

Integrated report 2022-2023:

Societe Generale key datas

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3

Strategy alignment

Doesyourcorporatestrategyidentifyandreflectsustainabilityasstrategicpriority/iesforyourbank?

• Yes ☐ No

Please describe how your bank has aligned and/or is planning to align its strategy to be consistent with the Sustainable Development Goals (SDGs), the Paris Climate Agreement, and relevant national and regional frameworks.

Does your bank also reference any of the following frameworks or sustainability regulatory reporting requirements in its strategic priorities or policies to implement these?

• UN Guiding Principles on Business and Human Rights
• International Labour Organization fundamental conventions
• UN Global Compact
• UN Declaration on the Rights of Indigenous Peoples
• Any applicable regulatory reporting requirements on environmental risk assessments, e.g. on climate risk - please specify which ones: EU taxonomy regulation, EBA Pilar 3
• Any applicable regulatory reporting requirements on social risk assessments, e.g. on modern slavery - please specify which ones: EU taxonomy regulation, EBA Pilar 3, Modern Slavery Act, the Duty of Care Act.

• None of the above

Contributing to the Sustainable development goals:

In 2023, under the leadership of the new management team, Societe Generale placed its ESG goals firmly at the centre of its strategy. In its 2026 strategic plan, it announced a series of major initiatives to accelerate its contribution to the environmental transition and, more broadly, to the UN's Sustainable Development Goals. It stated the Group's ambition to be a rock-solid and sustainable top-tier bank, lead in ESG, and foster a culture of performance and accountability. ESG is an imperative and is included in the criteria used to manage the Group's activities.

The core goals of the Group's CSR policy break down into four strategic priorities. Two of these concern the Group's activities: supporting clients with their environmental transition and making a positive contribution to local communities. And two make up the very foundation of a responsible bank: being a responsible employer and nurturing a culture of responsibility and accountability across all our businesses. Contribution to the SDGs is as follows: #1 No poverty; #2 Zero Hunger; #3 Good health and well-being; #4 Quality education; #5 Gender Equality; #6 Clean Water and Sanitation; #7 Affordable and clean energy; #8 Decent work and economic growth; #9 Industry, innovation and infrastructure; #10 Reduced Inequalities; #11 Sustainable cities and communities; #12 Responsible consumption and production; #13 Climate action; #14 Life Below Water; #15 Life on Land; #16 Peace, justice and strong institutions; #17 Partnerships for the Goals.

URD 2024

• Chapter 2, Extra-financialreport, pages 46
• A clear strategy for a sustainable future,(Chapter 1.3, A clear strategy for a sustainable future, page 13)
• Chapter 5, A commited bank, page 334
• Chapter 5, Aligning activities with pathways consistent with a maximum temperature rise of 1.5 °C, page 336
• Rolling out a Code of Conduct underpinned by shared values(and human rights), page 330
• Duty of care Plan, page 404

UN Global Compact

UN Global Compact

Code of conduct

Societe Generale code of conduct

Corporate website

Environmental Social

Principles

Climate alignment report :

Strategypage 12

Societe Generale Capital Markets Day : presentation 18/09/2023

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Operating with responsibility:

The Group undertakes to operate with the utmost integrity and transparency and to comply with the applicable laws and regulations in all the countries where it operates. The Group conducts its operations in accordance with the values and principles set out in the following major international conventions:

• the Universal Declaration of Human Rights and its additional commitments;
• the fundamental conventions of the International Labour Organization (ILO);
• the Unesco World Heritage Convention;
• the OECD (Organisation for Economic Co-operation and Development) Guidelines for Multinational Enterprises;
• the United Nations Guiding Principles on Business and Human Rights.

The Bank will comply with standards developed or under development at the EU level such as CSRD or the EBA and ECB frameworks.

Societe Generale is a key player in the ESG transformation of the industry, leading in working groups to create common industry methodologies, for example through the Sustainable STEEL Principles, the Poseidon Principles, the Aluminum Climate-Aligned Finance Working Group and the Aviation Climate-Aligned Finance (CAF) Working Group. Most recently, the Group became a founding member of the Pegasus Guidelines, in partnership with RMI (Rocky Mountain Institute) and four other banks. This first-of-its-kind framework enables banks to measure and disclose their aviation lending portfolios' emissions in a consistent and comprehensive manner.

The group is part of numerous other initiatives, including the Positive Impact Manifesto and the Principles for Positive Impact Finance (UNEP FI), the Green Investment Principles, the TNFD Forum, the Act4Nature alliance and UNEP-FI's Net- Zero Banking Alliance as a founding member in 2021.

The group follows the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and presents in the URD's cross-reference table, and publishes an annual report on the Equator Principles.

Press release : Pegasus Guidelines

Human rights

Modern slavery UK act

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Principle 2:

Impact and Target Setting

We will continuously increase our positive impacts while reducing the negative impacts on, and managing the risks to, people and environment resulting from our activities, products and services. To this end, we will set and publish targets where we can have the most significant impacts.

2.1 Impact Analysis (Key Step 1)

Show that your bank has performed an impact analysis of its portfolio/s to identify its most significant impact areas and determine priority areas for target-setting. The impact analysis shall be updated regularly1 and fulfil the following requirements/elements (a-d)2:

1. Scope:What is the scope of your bank's impact analysis? Please describe which parts of the bank's core business areas, products/services across the main geographies that the bank operates in (as described under 1.1) have been considered in the impact analysis. Please also describe which areas have not yet been included, and why.

The analysis in this report covers the banking activities of Societe Generale.	URD 2024
		 Chapter 4, Risk factors,page 191;
To address impacts on the environment, human rights and fundamental	 Chapter 4, Credit risk, page 236;
 Chapter 4, Sector breakdown of group
freedoms, the Group's impact assessment exercise is undertaken in the Duty	corporate exposure on total group
of Care plan, disclosed annually in the URD as required under French	exposure (basel portofolio), page 252;
legislation, and comprising three interlinked assessments of the impact on the	 Chapter 4, Analytical approach to
extra-financialrisk factors, page 303;
Group's activities, employees and suppliers. Societe Generale has carried out
 Chapter 5, Aligning activities with
a specific mapping of E&S impacts as part of its Duty of Care plan leading to	pathways consistent with a maximum
the identification of specific sectors in its portfolio that may present E&S	temperature rise of 1.5 °C, page 336
impacts.	 Chapter 5, Eligible and aligned
activities under the European
		Taxonomy: Green Asset Ratio (GAR),
E&S mapping is based on the Group's exposures to corporates (EAD : 393bn	page 343
EUR in 2023) on a worldwide basis. This exposure encompasses exposure to	 Chapter 5, Assessing nature related
risks, page 342	-
large corporate customers and also a part of SME exposure in the Group's	 Chapter 5, Supporting large
French and international retail banking entities.	corporates in their environmental and
		social transition, page 348;
In 2023, the Group identified, assessed and ranked inherent E&S impacts	 Chapter 5, Measuring the objectives
and expectations of stakeholders,
related to its credit portfolio for each sector (and region, for some subjects),	page 360
based on external sources covering the climate, biodiversity (through three	 Chapter 5, Independant their party's
report - social and business
main components: ecosystems, pollution and water) and human rights.
information, page 403
		 Duty of care Plan - Climate and
On climate change , Societe Generale has focused on defining and	Biodiversity, page 407
implementing a strategy on the most carbon intensive sectors in its financing	Corporate website
portfolios, setting targets that are aligned with trajectories in line with the	Climate alignment report :
objective of the Paris Agreement.	Manage the potential climate of
		activities,page 33
		Risk management,page 41
		Equator Principles report 2023

1. That means that where the initial impact analysis has been carried out in a previous period, the information should be updated accordingly, the scope expanded as well as the quality of the impact analysis improved over time.
2. Further guidance can be found in the Interactive Guidance on impact analysis and target setting.

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1. Portfolio composition:Has your bank considered the composition of its portfolio (in %) in the analysis? Please provide proportional composition of your portfolio globally and per
2. 1. 
      geographical scope
   2. by sectors & industries3 for business, corporate and investment banking portfolios (i.e. sector exposure or industry breakdown in %), and/or
   3. by products & services and by types of customers for consumer and retail banking portfolios.

If your bank has taken another approach to determine the bank's scale of exposure, please elaborate, to show how you have considered where the bank's core business/major activities lie in terms of industries or sectors.

The credit portfolio presents a diversified profile.

At 31 December 2023, the Group's exposure at default (EAD, excluding counterparty risk) was EUR 1,026 billion, with the following breakdown by type of counterparty: 32% on sovereigns, 30% on corporates, 21% on retail customers and 4% on credit institutions and similar.

In terms of geographical concentration, the five main countries to which the Group was exposed at 31 December 2023 were France (45% of the Group's total EAD, mainly related to Sovereigns and Retail customers), the US (14% of EAD, mainly related to corporates and sovereigns), the UK (4% of EAD, mainly related to corporates), Germany (4% of total Group EAD, mainly related to credit institutions and corporates) and the Czech Republic (5% of the Group's total EAD, mainly related to retail clients and corporates).

At 31 December 2023, the Corporate portfolio amounted to EUR

393 billion (on- and off balance sheet exposures measured in EAD). The Group's exposure to its ten largest corporate counterparties accounted for 4% of this portfolio.

At 31 December 2023, the main sectors to which the Group is exposed in its corporate portfolio included financial activities (accounting for 6.8% of Group's total EAD exposure), real estate (3%), social services (2.8%), manufacturing (2.3%), the agriculture sector and agrifood industries (2.2%) and telecommunications, media and technology (2.0%).

URD 2024

• The Group's core businesses, (Chapter 1.4, page 20 & 26
• Chapter 4, Credit risk, page 196;
• Chapter 4, Sector breakdown of group corporate exposure on total group exposure (basel portofolio), page 252;
• Geographical breakdown of net banking income (in eurm)Chapter 6, page 571)
• Geographical breakdown of balance sheet items (in eurm)Chapter 6, page 571)

Risk report 2024

• Chapter 14, credit and counterparty risks, pages 23

Corporate website

• Financials Results FY 2023 - 4 Supplement, Presentation

3 'Key sectors' relative to different impact areas, i.e. those sectors whose positive and negative impacts are particularly strong, are particularly relevant here

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French Retail Banking activities (SG Network and BoursoBank),Private

Banking and Insurance = main figures :

International Retail Banking activities = main figures :

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1. Context:What are the main challenges and priorities related to sustainable development in the main countries/regions in which your bank and/or your clients operate?4 Please describe how these have been considered, including what stakeholders you have engaged to help inform this element of the impact analysis.
   This step aims to put your bank's portfolio impacts into the context of society's needs.

In evaluating the E&S impacts' materiality of the Group's portfolio, Societe Generale paid particular attention to specific local challenges. This evaluation was supported by the dialogue with external stakeholders (NGOs, international or regional initiatives, regulators, clients and investors) and the consideration of material E&S controversies.

The Group is attuned to and engages in dialogue with NGOs that alert it to E&S issues. Societe Generale centralizes in its Sustainable Development Department the communication and contact with NGOs and other stakeholders informing it about the E&S impact of its financing services or other services. In the course of 2023, Societe Generale consulted with or participated in working groups with some ten NGOs (including Reclaim Finance, Les Amis de la Terre and Banktrack), either in writing, through bilateral meetings or through broader, more global consultations organised by the associations themselves or by the French Banking Federation (Fédération bancaire française - FBF), Entreprises pour les Droits de l'Homme (businesses for human rights), Entreprises pour l'Environnement (businesses for the environment), Institute for sustainable finance and UNEP-FI, amongst others.

In 2023,the Group continued to develop partnerships and new initiatives, of which the creation of a Scientific Advisory Council to provide independent expert advice and long term vision to the Group on matters related to climate, nature, social issues and sustainable development; and the signature of a Collaboration Framework Agreement with the International Finance Corporation (IFC) to accelerate on sustainable finance in developing countries and in support of the UN Sustainable Development Goals.

As a bank operating in different countries and across multiple sectors Societe Generale has identified certain sectors as sensitive from an E&S standpoint and in which the group plays an active role. Such sectors are covered by dedicated E&S policies and list the sector specific E&S risks that the group consider key priorities and which the Group address through our requirements and criteria. It enables the Group to identify key region-specific challenges to be addressed like oil extraction in Ecuadorian Amazon or in the Arctic, deforestation (with a specific focus on soy and beef sectors in South America and Palm oil) or forced labor issues (with a focus on most sensitive regions). On a more global perspective, climate-related impacts remained at the top of the Group's preoccupations, as well as the consideration of the Group's impacts on nature.

Managing E&S risks is an integral part of the processes governing how the Group conducts business. Societe Generale identifies negative impacts as part of the risk identification process for the Duty of Care Plan and the identification of reputational risk arising from ESG risk factors. It has a preventive policy in place to prevent risks occurring or to mitigate them.

URD 2024

• A clear strategy for a sustainable future,(Chapter 1.3, A clear strategy for a sustainable future, page 13)
• Chapter 4, Analytical Approach to Extra-FinancialFactors, pages 303 and following
• Chapter 4, Biodiversity-relatedand nature risks, pages 319 and following
• Chapter 5, Measuring the objectives and expectations of stakeholders, page 360

Corporate website

Climate alignment report :

Stakeholders engagement and cooperation,page 19

Societe Generale Capital Markets Day - Press release

Risk report 2024

• Chapter 14, ESG risks - quantitative datas, pages 289 and following

4 Global priorities might alternatively be considered for banks with highly diversified and international portfolios.

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In addition to this broad framework, Societe Generale applies a comprehensive approach to incorporating CSR considerations (incl. positive and negative impacts identification) when considering the provision of products and services:

• Front officers auto-evaluate at origination their transactions thanks to a dedicated questionnaire "PI-SAT" allowing them to assess their social, environmental and economic impacts (understood as the effect or change (negative or positive) produced by a project, activity or financed entity). The positive impact must be proven/demonstrable/traceable, delivered efficiently and consistent with the size of the investment (acceptable cost to impact ratio).
• Project financings are evaluated in terms of local impacts on the environment and on human rights in the frame of the Equator Principles and in line with the IFC standards. The impact on protected area is systematically checked thanks to the tool IBAT.
• The reputation risk potentially associated to clients or transactions is qualified in the frame of the E&S evaluation, based on material controversies.
• The Transition Opportunities Potential ("TOP") tool developed to assess clients' climate transition strategies.

In the pillar 3, the Group disclose quantitative datas regarding ESG risks, including climate change transition risks and climate change physical risk.

Regarding biodiversity, the Group has already begun looking into its risks in relation with biodiversity and nature, and in addition to the climate vulnerability indicators, the Group has developed a dedicated nature related indicator (biodiversity and ecosystems, water resources and pollution).

Based on these first 3 elements of an impact analysis, what positive and negative impact areas has your bank identified? Which (at least two) significant impact areas did you prioritize to pursue your target setting strategy (see 2.2)5? Please disclose.

Supporting the environmental transition is one of the 4 main priorities of the Group's CSR strategy, of which climate change mitigation and biodiversity preservation are key priorities. They are supported by the Group's willingness to monitor its positive impact and support its clients. In addition, the Group recognizes the potential negative or positive social impacts that are often closely interlinked with climate and biodiversity. It will pursue its efforts in this space, notably through the evaluation of its clients and transactions.

Whilst the following sections will focus on reporting against these two environmental themes, respecting and promoting Human Rights of the Group's own workforce, in its supply chain and its activities are also part of the fundamental values of the Group CSR policy. The prevention and mitigation of Human Rights violations are covered extensively under the Group's reporting for the French Duty of Care Law. The Group expresses its respect and promotion of Human Rights and is guided in particular by the "United Nations Guiding Principles for Business and Human Rights" ("UNGPs").

In the Group's business activities, the Group have implemented a Transversal Statement on human rights across a framework and have incorporated several priority and exclusion criteria in sector policies, for example in the Defence Policy where there is an automatic exclusion in case of breach and the

URD 2024

• Chapter 1, A clear strategy for a sustainable future,page 13
• Chapter 2, Extra-financialreport, pages 46
• Chapter 4, Analytical Approach to Extra-FinancialFactors, pages 303 and following
• Chapter 4, Material Assessment, pages 311
• Chapter 5, Aligning our activities with pathways consistent with a maximum temperature rise of 1.5 °C, pages 336
• Chapter 5, Supporting positive change, pages 347 and following
• Chapter 5, Duty of care Plan, page 404
• Chapter 5, Duty of care Plan- human rights, page 407

Corporate website :

• Transerval statement on Human Rights

5 To prioritize the areas of most significant impact, a qualitative overlay to the quantitative analysis as described in a), b) and c) will be important, e.g. through stakeholder engagement and further geographic contextualisation.

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