92 2019 Universal registration document and annual financial report - BNP PARIBAS

2 CorPorate GovernanCe and internal Control

2

Corporate governance report

➤ VALUATION(1) OF THE PLURIANNUAL VARIABLE REMUNERATION PLANS (LTIP) AT THE AWARD DATE AND AT 31 DECEMBER 2019

Award date of the plan 04/02/2015 04/02/2016 06/02/2017 05/02/2018 04/02/2019 04/02/2020

Maturity date of the plan 04/02/2020 04/02/2021 06/02/2022 05/02/2023 05/02/2024 04/02/2025

Valuation(1)

At the award date of the plan

At 31/12/2019

At the award date of the plan

At 31/12/2019

At the award date of the plan

At 31/12/2019

At the award date of the plan

At 31/12/2019

At the award date of the plan

At 31/12/2019

At the award date of the plan

Jean LEMIERRE - - - - - - - - - - -

Jean-Laurent BONNAFÉ 331,200 0 339,885 291,525 775,767 896,744 479,065 551,542 282,644 685,874 617,927

Philippe BORDENAVE 168,360 0 217,875 186,875 496,650 574,100 306,700 353,100 180,950 439,100 395,600

TOTAL 499,560 0 557,760 478,400 1,272,417 1,470,844 785,765 904,642 463,594 1,124,974 1,013,527

(1) Valuation according to the method adopted for the consolidated financial statements.

➤ ASSUMPTIONS USED TO VALUE THE LTIP IN ACCORDANCE WITH THE METHOD ADOPTED FOR THE CONSOLIDATED FINANCIAL STATEMENTS

Valuation at award date

Award date of the plan 05/02/2019 04/02/2020

Opening BNP Paribas share price 40.04 48.72

Opening level of the EURO STOXX Banks index 89.07 92.11

Zero-coupon rate Euribor Euribor

Volatility of the BNP Paribas share price 21.35% 19.48%

Volatility of the EURO STOXX Banks index 21.20% 18.36%

Correlation between the BNP Paribas share and the EURO STOXX Banks index 89.07% 89.77%

Financial model used Monte-Carlo Monte-Carlo

Fair value of the plan at award date(*) 18.10% 39.56%

(*) As a percentage of the amount awarded.