Sfil 2025 Interim results: Strong financial performance supported by a thriving activity

Very solid results driven by higher recurring income

• Higher recurring net banking income at €113m (+10% vs 1H24) primarily due a very sustained activity level since 2023 despite the higher refinancing costs
• Excellent quality of asset portfolio reflected by a reversal in cost of risk and a non-performing exposures rate at 0.4%
• Increase in recurring net result (+10% vs 1H24) despite the one-off tax contribution charged to large companies in France (€7m impact in 1H25).
• Robust financial structure:  CET1 ratio at 43.5% (vs 8.56% minimal requirement)

Excellent financing capacity despite high volatility

• €5.9bn issued with an 8.4-year average maturity
• 5 public transactions for €5.25bn from a large and diversified investor base
• Financing conditions comparable to the French sovereign
• 70% of 2025 financing programme achieved in 1H25

Strong export credit activity supporting sovereignty imperatives

• 2 transactions for a total amount of €2.1bn (vs €1.7bn in 1H24)
• 35 operations financed for a total of €20.6bn including €9.8bn to defence activities since 2015

Dynamic lending to French local public sector as social loans increase

• €2bn granted to the French local public sector – 3^rd best interim performance since 2013
• Very strong activity on local authorities with €1.9bn granted – 2^nd best interim performance after 1H24
• Confirmed success of used-of-proceeds loans reaching 45% of financing granted to local authorities
• Loans to public hospitals lowered to €0.16bn
• €2.7bn loans acquisition, stable from 1H24

Continued ESG realisations

• €2.2bn of green loans and €2.0bn of social loans in favour of French local public sector since  the beginning of 2024
• Launch of a study related to measures implemented by French local authorities in relation with climate change adaptation
• Approval of 2025-2026 ESG roadmap in June 2025
• Adhesion to the Poseidon Principles in April 2025 to promote a low-carbon future for the global maritime sector

Very positive outlook

• Finalization of the funding programme in 2H25 pursuing the strategy of long-term bond issuance considering market conditions that remain uncertain and volatile
• Export credit activity: solid business outlook representing over €69bn
• French public local sector: strong activity expected in 2H25 as the end of the French electoral cycle