Societe Generale : Q2 and H1 2021 Financial Results Presentation.pdf

SOCIETE GENERALE GROUP RESULTS

2nd quarter and 1st half 2021 | 03.08.2021

DISCLAIMER

The financial information on Société Générale for its 2nd quarter and first half 2021 comprises this presentation and a dedicated press release which are available on the website: https://investors.societegenerale.com/fr.

This presentation contains forward-looking statements relating to the targets and strategies of the Societe Generale Group. These forward-looking statements are based on a series of assumptions, both general and specific, in particular the application of accounting principles and methods in accordance with IFRS (International Financial Reporting Standards) as adopted in the European Union, as well as the application of existing prudential regulations. These forward-looking statements have also been developed from scenarios based on a number of economic assumptions in the context of a given competitive and regulatory environment. The Group may be unable to:

• anticipate all the risks, uncertainties or other factors likely to affect its business and to appraise their potential consequences;
• evaluate the extent to which the occurrence of a risk or a combination of risks could cause actual results to differ materially from those provided in this document and the related presentation.
  Therefore, although Societe Generale believes that these statements are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, in particular in the Covid-19 crisis context, including matters not yet known to it or its management or not currently considered material, and there can be no assurance that anticipated events will occur or that the objectives set out will actually be achieved.
  Important factors that could cause actual results to differ materially from the results anticipated in the forward-looking statements include, among others, overall trends in general economic activity and in Societe Generale's markets in particular, regulatory and prudential changes, and the success of Societe Generale's strategic, operating and financial initiatives. More detailed information on the potential risks that could affect Societe Generale's financial results can be found in the section "Risk Factors" in our Universal Registration Document filed with the French Autorité des Marchés Financiers (which is available on https://investors.societegenerale.com/en). Investors are advised to take into account factors of uncertainty and risk likely to impact the operations of the Group when considering the information contained in such forward-looking statements. Other than as required by applicable law, Societe Generale undertakes no does not undertake any obligation to update or revise any forward-looking information or statements.
  Unless otherwise specified, the sources for the business rankings and market positions are internal. This presentation includes information pertaining to our markets and our competitive positions therein. Such information is based on market data and our actual revenues in those markets for the relevant periods. We obtained this market information from various third- party sources (publications, surveys and forecasts) and our own internal estimates. We have not independently verified these thirdparty sources and cannot guarantee their accuracy or completeness and our internal surveys and estimates have not been verified by independent experts or other independent sources
  The financial information presented for the quarter ending 30 June 2021 was reviewed by the Board of Directors on 2 August 2021. It has been prepared in accordance with IFRS as adopted in the European Union and applicable at this date. The limited review procedures on the condensed interim financial statements at 30 June 2021 carried by the Statutory Auditors are currently underway."

SECOND QUARTER AND FIRST HALF 2021 RESULTS 3 AUGUST 2021 2

1 INTRODUCTION

Q2 21 : EXCELLENT PERFORMANCE ACROSS ALL BUSINESSES

DOUBLE-DIGIT EARNINGS GROWTH

Revenues	+18.2% (+20.5%*)
	vs. Q2 20

Strong quarter in Global Markets and solid momentum in Financing & Advisory

High growth in Financial Services Rebound in retail activities

Gross	+55%(1) (EUR 2bn(1))
Operating	vs. Q2 20
Income
Low cost	11BP
of risk

IMPROVING 2021 OUTLOOK

Expected revenue growth across all businesses

Positive jaws and cost discipline

Downward revision of cost of riskguidance (between 20bp

and 25bp)

ATTRACTIVE SHAREHOLDER RETURN

Strong capital position at

13.4%(2) well above target thanks to sustained organic capital generation

Confirmed share buy-back programme in Q4 21, equivalent to

2020 dividend (~ EUR 470m)(3)

Provision of dividend(4)	EUR 1.2
per share	in H1 21

		GROUP NET INCOME AT EUR 1.35bn(1) (EUR 2.65bn(1) IN H1 21)
		ROTE AT 10.4%(1) (10.2%(1) IN H1 21)
(1)	Underlying data: adjusted for exceptional items and IFRIC 21 linearisation (see Supplement) (2) Including IFRS9 phasing, 13.2% fully-loaded
(3)	Subject to regulatory approval (4) Based on a payout of 50% of the underlying group net income after deduction of interests on deeply subordinated notes and undated subordinated notes

* When adjusted for changes in Group structure and at constant exchange rates

SECOND QUARTER AND FIRST HALF 2021 RESULTS 3 AUGUST 2021 4

DEVELOPING INNOVATIVE ESG SOLUTIONS FOR OUR CLIENTS

EMBEDDING ESG ACROSS ACTIVITIES		DIVERSIFYING ACROSS GEOGRAPHIES

Launch of E&S loan offer in French Retail to accompany corporate clients in the financing of their E&S projects

Société Générale's first cross-currency swap including a bilateral sustainability commitment, with Enel

First sustainability-linked loan in India to support renewable energy and digital inclusion

Launch of "Solactive Just Transition" Index(1), offering retail clients exposure to social themes in Czech Republic and Romania

Advising ENGIE North America on the financing of its long-term sustainable energy agreement with a university in the US(2)

Republic of Benin's inaugural SDG Bond, and the first SDG bond issue out of Africa

CONTINUED	ESG Research	Best ESG solution at	Green Trade	Best ESG Strategy
	the SRP Asia Pacific
AWARD	of the year	Finance innovation	Trophée
Awards 2021
RECOGNITION			leaders de la finance

1. Launched in partnership with Vigéo -Eiris and Solactive
2. Georgetown University

SECOND QUARTER AND FIRST HALF 2021 RESULTS 3 AUGUST 2021 5