SFIL Annual financial report 2018

Shareholders’ Meeting of may 29, 2019 I 5 137 Annual Financial Report 2018 SFIL Management report Report on corporate governance Consolidated financial statements in accordance with IFRS Annual financial statements in accordance with French GAAP Shareholders’ Meeting of May 29, 2019 General information Terms and conditions: This amendment was authorized by the Board of Directors in December 7, 2017. The financial impact of the agreement and its amendments in respect of fiscal year 2018 is described in A. F. Agreement of liquidity support between LBP and SFIL Persons concerned: Mr. Philippe Wahl, Chairman of the Management Board of LBP and director of SFIL, until December 5, 2013 Nature and purpose: This agreement was signed in August 8, 2013. A financing agreement was set up between CDC and SFIL. Furthermore, in January 31, 2013, LBP and SFIL agreed to enter into a liquidity support agreement from LBP to SFIL. As part of the overall agreements, LBP must contribute to the non-pre- ferred financing which CAFFIL needs to finance the acquisition of the production of LBP. CAFFIL will contribute to 65% of these needs and CDC 35%. The agreement of liquidity support between LBP and SFIL specifies the terms and conditions for setting up this financial support, which are based on the financing terms and conditions in the financing agreement between CDC and SFIL. It is a renewable credit line for a maximum amount of EUR 1.1 billion. Terms and conditions: This agreement was authorized by the Board of Directors in June 6, 2013. For fiscal year 2018, SFIL’s debt under the agree- ment and its amendments amounted to EUR 820 million and it paid interest of EUR 2.7 million. 1. Amendment of July 16, 2015 Persons concerned: Mr. Rémy Weber: Chairman of the Management Board of LBP and director of SFIL until March 24, 2016. Nature and purpose: This amendment was signed in July 16, 2015. It provides, as a result of the launch of the new credit export activity, a mod- ification of the contribution of LBP to the preferred funding of CAFFIL. LBP accepts to fully finance (100%), and not only 65%, the needs related to the activity in the public sector and the hospi- tals and also to assume the financing already paid by the CDC, i.e., 35%. Terms and conditions: This agreement was authorized by the Board of Directors in March 19, 2015. The financial impacts of the agreement and its amendments in respect of fiscal year 2018 are described in F. 2. Amendment of July 10, 2017 Persons concerned: Mr. Serge Bayard, representing LBP and director of SFIL Nature, purpose and reasons justifying that the agreement is in the Company’s interest: The amendment modifies the agreement allowing LBP outstanding drawdowns to be smoothed out. Terms and conditions: This amendment was signed in December 15, 2017 and authorized by the Board of Directors in May 31, 2017. The financial impacts of the agreement and its amendments in respect of fiscal year 2018 are described in F. 3. Amendment of December 15, 2017 Persons concerned: Mr. Serge Bayard, representing LBP and director of SFIL. Mr. Schwan Badirou Gafari, representing the French State, director of SFIL and the State, being a member of the LBP Super- visory Board. Nature, purpose and reasons justifying that the agreement is in the Company’s interest: The amendment to the financing agreement includes an increase in the ceiling (from EUR 1,250 million to EUR 1,500 million) and an easing of the use terms and conditions. The term of the agreement was extended and the spread applicable to new drawdowns was reduced. Terms and conditions: This amendment was authorized by the Board of Directors in December 7, 2017. The financial impact in respect of fiscal year 2018 is described in F.