2018 REGISTRATION DOCUMENT AND ANNUAL FINANCIAL REPORT

2018 Registration document and annual fi nancial report - BNP PARIBAS 15

1PRESENTATION OF THE BNP PARIBAS GROUP

Presentation of operating divisions and business lines

■ a major mandate from the Carmignac management firm involving EUR 44 billion in assets and providing for a full partnership in asset servicing (global custody, UCITS depositary and transfer agent).

Securities Services offers solutions to all participants across the investment cycle:

■ investment banks, broker-dealers, banks and market infrastructures (sell-side operators) are offered solutions in execution services, derivatives clearing, local and global clearing, settlement and custody for all asset classes worldwide. Outsourcing solutions for middle and back-offi ce activities are also provided;

■ institutional investors asset managers, hedge funds, private equity funds, real estate and sovereign wealth funds, insurance companies, pension funds, fund distributors and promoters (buy-side operators) enjoy a wide range of services: global custody, custodian and fiduciary services, transfer agent and fund distribution support, fund administration and middle-offi ce outsourcing, investment, risk assessment and performance reporting;

■ issuers (originators, arrangers and corporates) have access to a wide range of fi duciary management services: securitisation and structured fi nance services, debt agency services, issuer advisory, stock-option plans and employee shareholding management, shareholder services and management of Shareholders Meetings;

■ market and fi nancing services are offered to all operators: securities lending and borrowing, foreign exchange, credit and collateral management, tripartite collateral management, trading service and fi nancing.

2018 awards

■ Custodian of the Year (Custody Risk Global Awards 2018);

■ Best Global Custodian in Asia Pacifi c (Asia Asset Management Best of the Best Awards 2018);

■ Best Depositary Solution (HFM European Hedge Fund Services Awards 2018);

■ European Hedge Fund Administrator of the Year (Funds Europe Awards 2018);

■ Best Administrator: Client Service (AltCredit European Awards 2018) .

2018 rankings

■ Category outperformer in 13 markets (Global Custodian Agent Banks in Major Markets Survey 2018);

■ No. 2 Hedge Fund Administration out of 15 participants (Global Custodian Survey 2018);

■ Outperformer in 8 categories (Global Custodian Hedge Fund Administration Prime Brokerage Survey 2018) .

CORPORATE CENTRE

PRINCIPAL INVESTMENTS Principal Investments manages the Group s portfolio of unlisted and listed industrial and commercial investments with a view to supporting clients and extracting value over the medium and long term. The Private Equity Investment Management unit specialises in providing support for transmission and development projects for unlisted companies by taking minority equity stakes or through private debt fi nancings. It also provides indirect fi nancing support for the economy through private equity funds. The Listed Investment Management unit acquires and manages minority interests in predominantly French listed companies.

PERSONAL FINANCE S MORTGAGE BUSINESS In the context of the Group s 2014-2016 business development plan, Personal Finance s Mortgage Business, of which a signifi cant portion is managed in run-off, was allocated to the Corporate Centre as at 1 January 2014.

KEY FACTORS AFFECTING THE BUSINESS

BNP Paribas activity is exposed to some key factors described in Chapter 5.1 under the heading Risk Factors . In summary, these risk factors are related to the macroeconomic environment, the market environment, regulation, the implementation of the Bank s strategy, the management of the Bank s business and the Bank s operations.