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LA MONDIALE HALF YEAR 2021 EARNINGS October 7, 2021

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Page 1: Présentation PowerPoint ALM 16/9e

C1 - Public Natixis

LA MONDIALE

HALF YEAR 2021

EARNINGS

October 7, 2021

Page 2: Présentation PowerPoint ALM 16/9e

C1 - Public Natixis

HY 2021 2

Successful transformation of the pension products

and portfolio

✓ Strong performance and good UL mix of the PER contracts:

nearly €70m of premiums with a UL rate of 57% (+10pts

compared to old contracts). A robust trend of premiums after a

successful launch of new pension contracts in a very competitive

market

✓ Transformation of Madelin portfolio into PER : > 90% positive

client return, leading to 25pts positive impact on the solvency ratio

Half Year 21: delivering on our strategy

Acquisition of a 67% stake in Aegide-Domitys

on June 30th, 2021

Aegide-Domitys: a leading position in the Senior Services

Residences in France

✓ Senior services residences developer and operator for

20+ years

✓ >20% market share (#1) in France with more than 130

residences and 12,000 residents

✓ Value-added creation through control of the entire value

chain, along with strong growth potential

Transaction rationale

✓ Population support at all ages and stages of life

✓ Synergies in real estate development, marketing & sales,

and finance

✓ Business, profit and risk diversification through a non-

insurance structure purchase

Managed and robust solvency position: 222%

✓ A comfortable level of equity capital, supported by a net income

in the Group’s target in addition to a reinforcement of stability

reserves and no dividend constraint

✓ A tight control on capital requirement reinforced through

General Account strict monitoring (controlled net inflow in line with

Group’s target), extremely good unit-linked premium mix (50%)

and liabilities management

Page 3: Présentation PowerPoint ALM 16/9e

C1 - Public Natixis

HY 2021

✓ Confirming profitable growth of the portfolio and steering

towards unit linked (+29% of GWP compared to HY 2020)

3

Group overview

€8.4bn* IFRS equity capital as of HY 2021

€5.3bn Gross Written Premiums at HY 2021

€110m Net Result at HY 2021

SGAM Solvency ratio at 222% as of HY 2021

(La Mondiale Solvency ratio at 268%)

S&P rating ‘A’ Stable outlook

✓ Management of organic own funds generation

✓ Managed performance in a robust solvency position

✓ Resilient model as emphasized by the S&P upgrade

✓ In the high end of our target solvency range thanks to the

pension transformation and interest rates increase

(*) HY estimated

Page 4: Présentation PowerPoint ALM 16/9e

C1 - Public Natixis

Table of contents

1. Group financial results

2. Additional information

Page 5: Présentation PowerPoint ALM 16/9e

C1 - Public Natixis

HY 2021

4,321

1,720

4,047

2,533

1,775

831

1,817

848

144

67

229

67

6,240

2,618

6,093

3,447

FY 2019 HY 2020 FY 2020 HY 2021

Savings Pensions Others

Protection2%

Retail Savings

5%

Individual Pension

15%

Group Pension

23%

Private Wealth

Management55%

5

Technical reserves - €92.5bn

+4% vs FY20

35% UL

Gross Written Premiums* (€m)

+29% vs HY20

La Mondiale – Key business figures

60%

40%

G/A

UL

55%

45%50%

50%

(*) Excluding internal reinsurance

Focus La Mondiale

Strong growth of GWP compared to

HY20:

✓ +47% savings

✓ +2% pensions

35% of La Mondiale’s liabilities made

of UL (+2pts vs FY20), still above the

market

38% pensions / 60% savings: natural

hedge between liabilities

52%

48%

Page 6: Présentation PowerPoint ALM 16/9e

C1 - Public Natixis

HY 2021

-0.1

0.1

0.3

0.5

0.7

0.9

1.1

1.3

1.5

jan feb mar apr may jun jul aug sep oct nov dec

2018 2019 2020 2021

€1.3bn reached target

-0.8

-0.6

-0.4

-0.2

0.0

0.2

0.4

0.6

jan feb mar apr may jun jul aug sep oct nov dec

2018 2019 2020 2021

-€300m

on track

6

La Mondiale – Net inflows

Focus La Mondiale

Net General Account inflows

(€bn)*

(*) : French Gaap

Net Unit Linked inflows

(€bn)*

Measures have been taken to

monitor the volume in GA while

keeping good UL net inflows: levels

of UL net inflows are higher than

ever, while GA’s levels keep

decreasing.

Great stability of the key business

indicators, maintained at a strong

level in line with the Group's strategy:

✓ Steer and limit gross inflows on

the general account

✓ Keep a competitive position on

the market

✓ Maximize the unit linked

inflows

(*) : French Gaap

Page 7: Présentation PowerPoint ALM 16/9e

C1 - Public Natixis

HY 2021

SCR€6.4 bn

Eligibleown funds€14.3 bn

218% 221%

180%

222%

0

1

1

2

2

3

0

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

FY 2018 FY 2019 FY 2020 HY 2021

0.2 0.20.2 0.2

0.69%

0.09%-0.33%

0.10%0.2 0.20.2 0.2

7

SGAM solvency

SGAM – A robust solvency position in a low rates environment

Successful actions carried out during the first semester to return to a

comfortable solvency

The solvency ratio increased by 42pts between FY 2020 and HY 2021 mainly

due to :

✓ Around +25pts estimated impact through the transformation of Madelin

contracts into individual PER contracts

✓ Financial market environment impact (especially rise of interest rates by

40bps and CAC40) for +27pts

✓ Around -10pts from others technical impacts (inflation, transitional

measures amortization, etc.)

The Group settles into a comfortable solvency position that can be

managed with confidence. Especially since the result directly feeds equity

with no shareholders to remunerate.

Thus, the amount of the transitional measure on technical provision is €2.4bn

and represents 57pts of SGAM ratio. The measure has been agreed by the

supervisor until 2032

The issuer La Mondiale (solo) S2 ratio is at 268% (see details p.27)

Tec10

S2 ratio

Page 8: Présentation PowerPoint ALM 16/9e

C1 - Public Natixis

HY 2021

Equity capital (€6.3bn) and net income

8

La Mondiale – Performance in line with our strategy

La Mondiale: €6.3bn of IFRS own funds (-0.7% compared to FY 2020)

✓ Stability reserves exceptional funding

✓ €28m mutual certificates issuance leading to a total of almost €300m of

core Tier 1

✓ Lightened organic capital generation driven by the robust solvency

position

Net income: €18m of controlled growth in the Group target

✓ Realization of exceptional equity gains (€343m) used to fund profit

sharing reserve (-€356m)

Focus La Mondiale

Organic capital generation management (€m)

-€42m

+ €18m

Net income – HY 2020 / HY 2021

343

3.3 3.1 3.5 3.9 4.55.9 6.3 6.3

260 251

288 308

293

296

262

139

0

50

100

150

200

250

300

350

0

2

4

6

8

10

12

14

16

18

20

2014 2015 2016 2017 2018 2019 2020 HY 2021

€m

€b

n

Equity Net income

Page 9: Présentation PowerPoint ALM 16/9e

C1 - Public Natixis

HY 2021

Fixed Income€66.3bn

82%

Equity€5.8bn

7%

Property (**)€3.9bn

5%

Repo collateral (*)€4.4bn

5%Other€0.8bn

1%

Total AuM €113.7bn – 29% UL / 71% GA

✓ AuM growth: +4.7% compared to FY 2020

✓ Risk monitoring increased in the current environment

✓ Asset allocation stable over time, with a slight increase in the share

of UL (+2pts vs FY 2020)

9

Stable asset allocation in line with liabilities profile and sound investments

(*) Sale and repurchase agreement

(**) IFRS figures – total value: €5.7bn

General Account assets allocation – €81.3bn

Investment grade: 97%

Sovereign debts: 39%

Focus La Mondiale

Page 10: Présentation PowerPoint ALM 16/9e

C1 - Public Natixis

HY 2021

AAA11% AA+

3%

AA25%

AA-10%

A+6%

A12%

A-10%

BBB+13%

BBB5%

BBB-2%

NR3%

Steering towards Corporates – No change in the credit policy

✓ Lengthening of the average maturity at purchase

✓ Slight increase of investments in financials

Total fixed income exposure is at €66.3bn

✓ No floating rate bond

✓ Duration / sensitivity of portfolio (7.8) in line with liabilities sensitivity,

much lower than their duration (13.9) due to crediting rate policy

10

Stable asset allocation in line with liabilities profile and sound investments

A

28%

BBB

21%

AA

38%

AAA

11%

Credit Exposure split

by Credit Rating

2021 bond investment inflowsYield

Sovereign (*)0.64%

Financials0.76%

Corporates0.81%

0.50%

0.55%

0.60%

0.65%

0.70%

0.75%

0.80%

0.85%

0.90%

0.95%

9 10 11 12 13 14 15 16 17 18 19 20 21 22

(*) including Supra / Agencies

Average maturity (years)

Focus La Mondiale

Page 11: Présentation PowerPoint ALM 16/9e

C1 - Public Natixis

HY 2021

3.5

4.0

4.5

5.0

5.5

6.0

6.5

After sales and equity hedging

Without sale and equity hedging

Equity sales Hedging roll

from June 2020 to

December 2020

Hedging roll

from June 2020

to 2021

Hedging roll

from June 2021

to 2022

Equity purchase of

€260m

▪ The equities portfolio value was at €5.3bn in September 2019, with unrealized gains significantly higher than expected (€0.9bn at the end of

September vs €0.2bn at the end of 2018)

▪ The hedging strategy allowed a 22pts gain on solvency ratio at the worst moment of the financial crisis

▪ 20% of the portfolio have been sold, and the remaining 80% have been hedged with an original strike of Stoxx50 3150 – Update in order to gradually

lengthen the hedging maturity to end of 2021

Equity portfolio value

The equity hedge allows to keep active management of underlying

equities portfolio

11

Focus La Mondiale

€6.2bnIncl. €0.6bn of realized gains

and €1.3bn of unrealized

gains

€6.1bn€5.3bnIncl. €0.9bn

of unrealized

gains

October 1, 2021

Page 12: Présentation PowerPoint ALM 16/9e

C1 - Public Natixis

HY 2021

1,513

1,809

497

1,096

1,406

468

RT1 Tier 2 Tier 3

Headroom

Issued

12

Significant financial flexibility left

Next / Regulatory call date breakdown (nominal, €m) Issuance capacity as per Solvency 2 regulation (€m)

(*) euro equivalent issuance rate, after hedging

191

499

340

256

500

768

197

5006.75%

5.05%

3.38%

2.56%

2.58%

4.375% 2.125%

500

0.75%

2024 2025 2026 jan-27 dec-27 2028 2029 2031

*

*

*

Total RT1: €1,465m

Total T2: €1,786m

Total T3: €500m

Page 13: Présentation PowerPoint ALM 16/9e

C1 - Public Natixis

Table of contents

1. Group financial results

2. Additional information

Page 14: Présentation PowerPoint ALM 16/9e

C1 - Public Natixis

HY 2021 14

Group structure

SGAM AG2R LA MONDIALE

SGAPS AG2R LA MONDIALE

Eligible Own Funds = €14.3bn

SCR = €6.4bn

S2 ratio = 222%

Premiums = €5.3bnLA MONDIALE

Protection & Health

Eligible Own Funds = €1.5bn

SCR = €0.8bn

S2 ratio = 182%S2 standards

Premiums = €1.6bn

Total balance sheet = €13.4bn(*)

Pensions & Savings

Eligible Own Funds = €12bn

SCR = €4.5bn

S2 ratio = 268% S2 standards

Premiums = €3.4bn

Total balance sheet = €119.1bn

▪ A mutual life insurance company is a company with no shareholders, i.e. results go directly into equity

▪ All securities issued since 2016 have a dual trigger on both the SGAM and La Mondiale solvency ratios (see details p.7 / p.27)

SGAM’s prudential scope

Full financial

solidarity in

proportion of

capital surplus

(*): as of EoY2020

Page 15: Présentation PowerPoint ALM 16/9e

C1 - Public Natixis

HY 2021 15

Executive summary (SGAM AG2R LA MONDIALE, as of 06/30/2021)

(1) : HY estimated

(2): Unit Linked are low capital need products

(3): General Account products are more capital intensive that Unit Linked ones

Robust balance sheet

and monitored solvency

€8.4bn1 IFRS Equity capital

(stable / FY 2020)

222% S2 ratio +42pts / FY 2020)

€6.3bn IFRS Equity capital

(-0.7% / FY 2020)

268% S2 ratio (+73pts / FY 2020)

Rated A / stable outlook

Upgrade on March 25, 2021 by S&P,

in an unusual environment

Diversified and steered

business model

€5.4bn Premiums (+29.4% / HY 2020)

48% Life & Savings

16% Pensions

20% Health

16% Protection

€99.2bn1 Liabilities

€110m Net income

€3.7bn Premiums, 50%/50% UL2/GA3

mix above the French market:

FY 2020: 34%/66%

€92.5bn Liabilities, 35%/65% UL2/GA3 mix

above the French market

FY 2020: 24%/76%

€139m Net income

Sound asset allocation & risk

management (La Mondiale HY 2021)

4.7% High level of profit sharing

of reserves reserve with €2.6bn

Around 21% of investments rated BBB+ or

below (lower than the market)

Complete and competitive

player on the French market

2nd in Supplementary Pension

6th in Health Insurance

6th in Protection

12th in Savings

Top3 in Private Wealth ManagementCapital items

€3.8bn Total amount of subordinated debt

€298.6m Total amount of mutual

certificates (unrestricted Tier 1)

SGAM

La Mondiale

SGAM

La Mondiale

Page 16: Présentation PowerPoint ALM 16/9e

C1 - Public Natixis

HY 2021 16

S&P points out :

✓ the financial strength of SGAM

✓ its leading positions in France

✓ stabilization of fundamentals

✓ control of net General Account inflows

✓ the continued decrease of guaranteed rates

✓ the transformation of Madelin contracts expected by end of 2021

Rating upgraded on March 25, 2021

'A’ Outlooks Stable

Business risk profile: Strong

Financial Risk Profile: Very Strong

Liquidity: Exceptional

Financial Strength Rating: A

A strong recognition by S&P of the robustness of AG2RLM model

Upgrade to ‘A’ Stable outlook

Page 17: Présentation PowerPoint ALM 16/9e

C1 - Public Natixis

HY 2021 17

Overview of La Mondiale Balance sheet (consolidated, IFRS)

FY 2019 HY 2020 FY 2020 HY 2021

%Change

HY 2020/

HY 2021€m

TOTAL ASSETS 107,418 108,053 114,151 119,059 10.2%

Intangible assets 49 48 46 390 710.9%

ow. Goodwill 39 38 38 376 879.3%

Insurance investments 75,313 76,746 79,223 81,269 5.9%

Unit Linked investments 27,383 26,520 29,342 32,452 22.4%

Others assets 3,757 3,487 3,691 4,012 15.1%

Cash and cash equivalent 917 1,252 1,849 936 -25.2%

FY 2019 HY 2020 FY 2020 HY 2021

%Change

HY 2020/

HY 2021€m

TOTAL LIABILITIES 107,418 108,053 114,151 119,059 10.2%

Equity Group Share 5,495 5,524 5,923 5,878 6.4%

Minority Interests 367 363 372 376 3.4%

Total Equity 5,862 5,888 6,295 6,253 6.2%

Financing debt 2,144 2,648 3,056 3,093 16.8%

Insurance and financial liabilities 91,711 90,080 95,624 97,888 8.7%

Other liabilities 7,700 9,437 9,176 11,825 25.3%

Page 18: Présentation PowerPoint ALM 16/9e

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HY 2021 18

Overview of La Mondiale P&L account (consolidated, IFRS)

FY 2019 HY 2020 FY 2020 HY 2021

%Change

HY 2020/

HY 2021€m

Revenue 6,241 2,617 7,414 3,745 43.1%

Financial Products 2,594 1,211 2,480 1,702 40.5%

Others 3,921 -1,455 939 1,981 -236.1%

Current operating income 12,756 2,374 10,833 7,428 212.9%

Current operating expenses -12,357 -2,209 -10,465 -7,245 228.0%

Operating Income 400 166 369 184 11.2%

CONSOLIDATED NET RESULT 296 121 262 139 15.1%

o.w Group share 292 120 259 134 11.8%

o.w Minority Interest 4 1 4 5

Page 19: Présentation PowerPoint ALM 16/9e

C1 - Public Natixis

HY 2021

0 bn

5 bn

10 bn

15 bn

20 bn

25 bn

30 bn

35 bn

40 bn

45 bn

50 bn

55 bn

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Property

Equity

Fixed Income

19

General Account assets allocation – €81.3bn

Stable asset allocation in line with liabilities profile

(*) Sale and repurchase agreement

(**) IFRS figures – total value: €5.7bn

Historical asset allocation General Account

(Net book value)

Fixed Income€66.3bn

82%

Equity€5.8bn

7%

Property (**)€3.9bn

5%

Repo collateral (*)€4.4bn

5%Other€0.8bn

1%

Focus La Mondiale

Page 20: Présentation PowerPoint ALM 16/9e

C1 - Public Natixis

HY 2021

Financials 54%

Corporates 25%

Sovereign (*) 21%

Net Investment Flow

Investments breakdown

Average investment rate on new bonds portfolio: 0.81%

HY 2021 fixed income cash flows and allocation

20

(*) including Supra / Agencies

Sovereign26%

Guaranteed government bonds

3%

Supra / Agencies10%

Covered bonds 6%

Senior Financials

16%

Sub Financials

5%

Corporates32%

Other2%

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

< 1 year > 1 year to3 years

> 3 to 5years

> 5 to 7years

> 7 to 10years

> 10 to 30years

> 30 years

Credit exposure by issuer type

Amount (€m)

Portfolio by maturity band

Focus La Mondiale

Page 21: Présentation PowerPoint ALM 16/9e

C1 - Public Natixis

HY 2021

France68%

Peripheral13%

Belgium9%

Austria2%

Others8%

Spain€1,127 m

59%

Ireland€341 m

18%

Italy€411 m

21%

Portugal€31 m

2%

Fixed income allocation – Sovereign exposure

Sovereign bond exposure

Peripheral countries exposure

Total Sovereign exposure is at €15.0bn

▪ Sovereign exposure accounts for 26% of total fixed income exposure

Total Sovereign on Peripheral countries exposure is at €1.9bn

▪ Peripheral countries exposure forms 13% of this sovereign bucket and

hence represents only 3% of overall total investments

▪ High level of unrealized gains (€272m) allowing credit shock

absorption

21

Focus La Mondiale

Page 22: Présentation PowerPoint ALM 16/9e

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HY 2021

0.0% 5.0% 10.0% 15.0% 20.0% 25.0%

Technology

Local Government.

TMT

Commodities

Services

Oil and Gas

Health

Industry

Financial Instit.

Consumer Goods

La Mondiale Equity DJ Stoxx 50

France 63%Switzerland 8%

U.K. 6%

Germany 6%

Others 17%

60

80

100

120

140

160

180

200

220

240

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 HY21

La Mondiale Equity DJ Stoxx 50 (incl. Dividends)

Equities exposure: €5.8bn (including €1.5bn through mutual funds)

▪ HY 2021 performance at 15.5%, after 3.9% in 2020 and 23.3% in 2019

▪ A well diversified equity portfolio by geography and sector

▪ Focus on large liquid equity stocks traded on the main exchange

markets

▪ All FX exposures are fully hedged

Equities performance

Breakdown by sectorBreakdown by countries (excluding mutual funds)

Equity allocation

22

Focus La Mondiale

Page 23: Présentation PowerPoint ALM 16/9e

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HY 2021

87.0%

2.0%

2.0%3.0%

6.0%

Paris and Paris region'soffices

Other offices in France

Paris and Paris region'shomes

Commercial space

Diversificaiton in France& Abroad

-4.0%

-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

La Mondiale Property

IPD (french market)

Geographic breakdown (market value) Total performance

Total Property exposure is at €3.9bn (fair value: €5.7bn).

La Mondiale property assets represent 708,000 sq.m. and are mainly offices located in the center or Western Paris, i.e. only Prime Real Estate.

Solid rental market, especially on all recently delivered surfaces, prompting a very good vacancy rate of c.16.9%.

Average revenue: €463/m2

IPD = Investment Property Databank

Property allocation

23

Focus La Mondiale

Page 24: Présentation PowerPoint ALM 16/9e

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HY 2021

-30pts

+28pts

-4pts

Interest rate -50 bps

Interest rate +50 bps

Equity market -20%

UnrestrictedTier 1

€10,437m73%

RT1€1,513m

11%

Tier 2€1,809m

13%

Tier 3€497m

3%

24

SGAM: Solvency position

SGAM SCR breakdown – €6.4bn

16% of diversification

benefit1

(1) Diversification benefit = (sum of net SCR excluding Operational

risk SCR - net BSCR) / sum of net SCR excluding Operational risk

SCR

SGAM Eligible Own Funds – €14.3bn

✓ Eligible Own Funds mostly made of the hardest form of capital

✓ Stability of the risk profile

Market73%

Counterparty2%

Life12%

Health8%

Operational5%

Key Sensitivities

Page 25: Présentation PowerPoint ALM 16/9e

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HY 2021

14.3

6.4

Total eligible own funds tomeet the SCR

SCR

12.5

2.7

Total eligible own funds tomeet the MCR

MCR

14.3

4.8

Total eligible own funds tomeet the SCR

75% SCR

25

Large buffers to principal write-down triggers – SGAM (€bn)

9.2

7.8

9.4

Free surplus to 100% of SCR Free surplus to 75% of SCR Free surplus to 100% of MCR

Page 26: Présentation PowerPoint ALM 16/9e

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HY 2021

3.0

4.0

5.0

6.0

7.0

2016 2017 2018 2019 2020

Positive rating

Negative rating

10%

20%

30%

40%

50%

2016 2017 2018 2019 2020

Positive rating

Negative rating

Economic leverage

Interest coverage and Leverage, as of FY 2020

Interest coverage SGAM Leverage SGAM

Liability management of the 7.07 2013 PerpNC6 in April 2019

Issuance of the 4.375 PerpNC10 (RT1) in October 2019

Issuance of the 2.125 11Y Bullet (T2) in June 2020

Issuance of the 0.75 5.5Y Bullet (T3) in October 2020

NB : IFRS leverage doesn’t take into account €146m of Super Subordinated Debts and €500m of RT1

26

IFRS leverage

Page 27: Présentation PowerPoint ALM 16/9e

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HY 2021

0.69%

0.09%-0.33%

0.10%0.2 0.20.2

SCR€4.5 bn

Eligibleown

funds€12.0 bn

268%

289%

195%

268%

0

1

1

2

2

3

3

0

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

FY 2018 FY 2019 FY 2020 HY 2021

0.2 0.20.2 0.2Unrestricted

Tier 1€8.2bn69%

RT1€1.5bn13%

Tier 2€1.8bn15%

Tier 3€0.4bn

3%Market77%

Counterparty2%

Life12%

Health4%

Operational5%

LA MONDIALE: Solvency figures and SCR breakdown

The amount of the transitional measure on technical provision is €2.1bn and represents 79pts of La Mondiale ratio. The measure has been agreed by the

supervisor until 2032

(1) Diversification benefit = (sum of net SCR excluding Operational risk SCR - net BSCR) / sum of net SCR excluding Operational risk SCR

SCR breakdown – €4.5bn

13% of diversification

benefit1

27

Eligible own funds – €12.0bnSolvency ratio

Tec10

S2 ratio

Page 28: Présentation PowerPoint ALM 16/9e

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HY 2021

12.0

4.5

Total eligible own funds tomeet the SCR

SCR

12.0

3.3

Total eligible own funds tomeet the SCR

75% SCR

10.1

2.2

Total eligible own funds tomeet the MCR

MCR

28

Large buffers to principal write-down triggers – La Mondiale (€bn)

8.6

7.5

8.0

Free surplus to 100% of SCR Free surplus to 100% of MCRFree surplus to 75% of SCR

As of HY 2021, available distributable items1 amounted to €1.3bn

1Distributable Items: (i) the retained earnings and the distributable reserves of the Issuer, calculated on an unconsolidated basis, as at the last calendar day of the then most recently ended financial year of the Issuer; plus (ii) the profit for

the period (if any) of the Issuer, calculated on an unconsolidated basis, for the period from the Issuer's then latest financial year end to (but excluding) such Interest Payment Date; less (iii) the loss for the period (if any) of the Issuer,

calculated on an unconsolidated basis, for the period from the Issuer's then latest financial year end to (but excluding) such Interest Payment Date, each as defined under national law, or in the articles of association of the Issuer.)

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André RenaudinChief Executive Officer

David SimonDeputy Chief Executive Officer

(Finances, Investments, Risks)

Luca De DominicisChief Financial & Risk Officer

[email protected]

+33 1 76 60 81 09

Jean-Louis CharlesChief Investment Officer

[email protected]

+33 1 76 60 99 91

Marie DeboosèreInvestor Relations

[email protected]

+33 1 76 60 87 36

Investor Relations - Contact: [email protected]

AG2R LA MONDIALE

14 - 16 Boulevard Malesherbes, 75008 Paris - France

http://www.ag2rlamondiale.fr

Contact details

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Disclaimer

Certain statements contained herein may be forward-looking statements including, but not limited to, statements that are predictions of or

indicate future events, trends, plans or objectives.

Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and

uncertainties and can be affected by other factors that could cause actual results and La Mondiale’s plan and objectives to differ materially

from those expressed or implied in the forward looking statements.

La Mondiale undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information,

future events or circumstances or otherwise.

Unless otherwise specified, financial statements are calculated in accordance with IFRS as adopted by the European Union. The IFRS figures

are subject to the review by the statutory auditors, whose work is still in progress.

In the presentation, SGAM AG2R LA MONDIALE is called “SGAM” and is a French prudential insurance group.

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