2018 REGISTRATION DOCUMENT AND ANNUAL FINANCIAL REPORT

2018 Registration document and annual fi nancial report - BNP PARIBAS 241

4CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

Notes to the fi nancial statements

➤ ACTUAL RATE OF RETURN ON PLAN ASSETS AND REIMBURSEMENT RIGHTS OVER THE PERIOD

➤ BREAKDOWN OF PLAN ASSETS

In %

Year to 31 Dec. 2018 Year to 31 Dec. 2017

Range of value (reﬂ ecting the

existence of several plans in the same

country) Weighted average

rates

Range of value (reﬂ ecting the

existence of several plans in the same

country) Weighted average

rates

Belgium -2. 00%/4. 65% -0.43% 1. 25%/5. 90% 2.94%

UK -3. 80%/5. 70% -3.05% 2. 30%/9. 70% 6.55%

France 3. 55% 3.55% 3.65% 3.65%

Switzerland -2. 00%/2. 80% -0.66% 6. 95%/7. 85% 6.96%

USA -4. 55%/1. 50% -0.50% 8. 40%/14. 20% 11.37%

Germany -6. 50%/1. 80% -3.23% -1. 80%/2. 90% 1.07%

Turkey 13.10% 13.10% 10.55% 10.55%

In %

31 December 2018 31 December 2017

Govern- mental bonds

Non-Govern- mental bonds

Real- estate

Deposit account Others Shares

Govern- mental

bonds

Non-Go- vernmental

bonds Real-

estate Deposit

account Others

Belgium 6% 52% 19% 1% 0% 22% 7% 52% 19% 1% 0% 21%

UK 16% 63% 9% 0% 3% 9% 26% 56% 9% 0% 1% 8%

France(1) 7% 67% 18% 8% 0% 0% 6% 68% 18% 8% 0% 0%

Switzerland 31% 29% 4% 20% 1% 15% 32% 29% 4% 18% 2% 15%

USA 26% 44% 14% 0% 11% 5% 33% 36% 18% 0% 8% 5%

Germany 28% 61% 0% 0% 2% 9% 28% 62% 0% 0% 1% 9%

Turkey 0% 0% 0% 5% 94% 1% 0% 0% 0% 5% 93% 2%

Others 10% 11% 12% 1% 6% 60% 9% 13% 11% 1% 15% 51%

GROUP 13% 49% 13% 4% 6% 15% 16% 46% 14% 4% 6% 14%

(1) In France, the breakdown of plan assets refl ects the breakdown of the general fund of the insurance company through which the Group s obligations are funded.

The Group introduced an asset management governance for assets backing defi ned-benefi t pension plan commitments, the main objectives of which are the management and control of the risks in terms of investment.

It sets out investment principles, in particular, by defi ning an investment strategy for plan assets, based on fi nancial objectives and fi nancial risk management, to specify the way in which plan assets have to be managed, via fi nancial management servicing contracts.

The investment strategy is based on an assets and liabilities management analysis that should be realised at least every three years for plans with assets in excess of EUR 100 million.

Post-employment healthcare benefits

The Group offers some healthcare benefi t plans for retired employees, mainly in the United States and Belgium. These plans are mainly closed to new entrants.

At the end of 2016 , the healthcare benefi t plan of Bank of the West in the United States was closed, rights have been frozen and conditions of eligibility have been modifi ed for some employees.

The present value of post-employment healthcare benefi t obligations stood at EUR 131 million at 31 December 2018, compared with EUR 143 million at 31 December 2017, i.e. a decrease of EUR 12 million in 2018, of which a EUR 1 million increase recognised directly in shareholders equity.