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148 2019 Universal registration document and annual financial report - BNP PARIBAS

3 2019 review of oPerations

3

Alternative Performance Measures (APM) Article 223-1 of the AMF s General regulation

NET EARNINGS PER SHARE

In millions 31 December

2019 31 December

2018 31 December

2017 31 December

20 16 31 December

2015 Average number of shares outstanding excluding Treasury shares 1,248 1,248 1,246 1,244 1,243

Net income attributable to equity holders 8,173 7,526 7,759 7,702 6,694 Remuneration net of tax of Undated Super Subordinated Notes (414) (367) (286) (357) (282) Exchange rate effect on reimbursed Undated Super Subordinated Notes (14) 0 64 125 (27) Net income attributable to equity holders, after remuneration and exchange rate effect on Undated Super Subordinated Notes 7,745 7,159 7,537 7,470 6,385

NET EARNINGS PER SHARE (EPS) (IN EUROS) 6.21 5.73 6.05 6.00 5.14

RETURN ON EQUITY

In millions of euros 31 December 2019 31 December 2018

Shareholders Equity Group Share 8,173 7,526

Remuneration net of tax of Undated Super Subordinated Notes (428) (367)

Net income restated used for the calculation of ROE/ROTE 7,745 7,159

Average permanent shareholders equity, not revaluated(1) 90,770 87,257

Return on Equity 8.5% 8.2%

Average tangible permanent shareholders equity, not revaluated(2) 78,801 74,901

Return on Tangible Equity 9.8% 9.6%

(1) Average Permanent shareholders equity: average of beginning of the year and end of the period (Permanent Shareholders equity = Shareholders equity attributable to shareholders - changes in assets and liabilities recognised directly in equity - Undated Super Subordinated Notes - remuneration net of tax payable to holders of Undated Super Subordinated Notes - proposed dividend distribution).

(2) Average Tangible permanent shareholders equity: average of beginning of the year and end of the period (Tangible permanent shareholders equity = permanent shareholders equity - intangible assets - goodwill).

MAIN EXCEPTIONNAL ITEMS

2019 2018

Operating expenses

Restructuring costs(1) (Corporate Centre) (311) (129)

Transformation costs - 2020 Plan (Corporate Centre) (744) (1,106)

Additional adaptation measures - departure plans(2) (Corporate Centre) (162)

Total exceptional operating expenses (1,217) (1,235)

Other non operating items Capital gain on the sale of 16.8% of SBI Life and deconsolidation of the residual stake(3) (Corporate Center) 1,450

Capital gain on the sale of a building (Corporate Centre) 101

Goodwill impairments (Corporate Centre) (818)

Capital gain on the sale of 30.3% of First Hawaiian Bank (Corporate Centre) 286

Capital gain on the sale of a building (Corporate Centre) 101

Total exceptional other non operating items 732 387

TOTAL EXCEPTIONAL ITEMS (PRE-TAX) (485) (848)

TOTAL EXCEPTIONAL ITEMS (AFTER TAX)(4) (242) (510)

(1) Related in particular to the integration of Raiffeisen Bank Polska and the discontinuation or restructuring of certain businesses (in particular BNP Paribas Switzerland).

(2) Related in particular to BNL bc, Asset Management and BancWest. (3) 5.2% residual stake in SBI Life. (4) Group share.

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