2018 Registration document and annual fi nancial report - BNP PARIBAS148

3 2018 REVIEW OF OPERATIONS

3

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

NET EARNINGS PER SHARE

In millions 31 Dec. 18 31 Dec. 17 31 Dec. 16 31 Dec. 15 31 Dec. 14 Average number of Shares outstanding excluding Treasury Shares 1,248 1,246 1,244 1,243 1,242 Net income attributable to equity holders 7,526 7,759 7,702 6,694 6,071(*)

Remuneration net of tax of Undated Super Subordinated Notes (367) (286) (357) (282) (240) Exchange rate effect on reimbursed Undated Super Subordinated Notes 0 64 125 (27) 0 Net income attributable to equity holders, after remuneration and exchange rate effect on Undated Super subordinated Notes 7,159 7,537 7,470 6,385 5,831 NET EARNINGS PER SHARE (EPS) IN EUROS 5.73 6.05 6.00 5.14 4.70** (*) Excluding the costs related to the comprehensive settlement with the US authorities. (**) Excluding the costs related to the comprehensive settlement with the US authorities. Excluding this effect, net earnings per share came to EUR -0.07

and return on equity stood at -0.1%.

RETURN ON EQUITY

In millions of euros 31 Dec. 18 31 Dec. 17

Shareholders Equity Group Share 7,526 7,759

Remuneration net of tax of Undated Super Subordinated Notes (367) (286)

Exchange rate effect on reimbursed Undated Super Subordinated Notes 0 64

Net income restated used for the calculation of ROE/ROTE 7,159 7,537

Exceptional items (after tax)(a) (510) (390) Net income Group share excluding exceptional items restated used for the calculation of ROE/ROTE excluding items 7,669 7,927

Average permanent shareholders equity, not revaluated(b) 87,257 84,695

Return on Equity 8.2% 8.9%

Return on Equity excluding exceptional items 8.8% 9.4%

Average tangible permanent shareholders equity, not revaluated(c) 74,901 71,864

Return on Tangible Equity 9.6% 10.5%

Return on Tangible Equity excluding exceptional items 10.2% 11.0% (a) See chapter 3 section 3.1 BNP Paribas Consolidated results. (b) 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).

(c) 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

In millions of euros 2018 2017 Own credit adjustment and DVA (Corporate Centre) (175 ) Capital gain on the sale of 1.8% stake in Shinhan (Corporate Centre ) 148 Capital gain on the sale of 4.78% stake in Euronext (Corporate Centre) 85 Total exceptional revenues 58 Restructuring costs of acquisitions* (Corporate Centre) (129) (101) Transformation costs of Businesses ( Corporate Centre ) (1, 106) (856) Total exceptional operating expenses (1, 235) (957) Capital gain on the sale of a building (Corporate Centre) 101 Capital gain on the sale of First Hawaiian Bank shares (BancWest & Corporate Centre) ** 286 Capital gain on the sale of 4% stake in SBI Life (Insurance) 326 Full impairment of TEB s goodwill (Corporate Centre) (172) Total other non-operating items 387 154 TOTAL EXCEPTIONAL ITEMS (BEFORE TAX) (848) (745) TOTAL EXCEPTIONAL ITEMS (AFTER TAX)*** (510) (390 ) * Restructuring costs, in particular of LaSer, DAB Bank, GE LLD, ABN Amro Luxembourg and Raffeisen Bank Polska. ** BancWest (capital gain : EUR 151 million); Corporate Centre (exchange difference : EUR 135 million). *** Group share .