2018 REGISTRATION DOCUMENT AND ANNUAL FINANCIAL REPORT

2018 Registration document and annual fi nancial report - BNP PARIBAS 87

2CORPORATE GOVERNANCE AND INTERNAL CONTROL

Corporate governance report

➤ VALUATION(1) OF THE LONG-TERM VARIABLE REMUNERATION PLANS (LTIP) AT THE AWARD DATE AND AT 31 DECEMBER 2018

Award date of the plan 29/04/2014 04/02/2015 04/02/2016 06/02/2017(2) 05/02/2018 (2) 05/02/2019 (2)

Maturity date of the plan 29/04/2019 04/02/2020 04/02/2021 06/02/2022 05/02/2023 05/02/2024

Valuation(1)

At the award date of the plan

At 31/12/2018

At the award date of the plan

At 31/12/2018

At the award date of the plan

At 31/12/2018

At the award date of the plan

At 31/12/2018

At the award date of the plan

At 31/12/2018

At the date of grant of the

plan

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

Jean-Laurent BONNAFÉ 449,668 - 331,200 20,160 339,885 108,030 775,767 326,458 479,065 226,881 282,644

Philippe BORDENAVE 230,526 - 168,360 10,248 217,875 69,250 496,650 209,000 306,700 145,250 180,950

TOTAL 680,194 - 499,560 30,408 557,760 177,280 1,272,417 535,458 785,765 372,131 463,594

(1) Valuation according to the method adopted for the consolidated fi nancial statements. (2) The Board of directors modifi ed the performance conditions starting with the LTIP 2017 to more specifi cally take into account the potential

outperformance of the BNP Paribas share compared to its European peers and its intrinsic performance (see detail in section 3 Long-Term Variable Remuneration Plan).

➤ 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 05/02/2018 05/02/2019

Opening BNP Paribas share price 65.39 40.04

Opening level of the EURO STOXX Banks index 137.88 89.07

Zero-coupon rate Euribor Euribor

Volatility of the BNP Paribas share price 20.67% 21.35%

Volatility of the EURO STOXX Banks index 20.76% 21.20%

Correlation between the BNP Paribas share and the EURO STOXX Banks index 86.59% 89.07%

Financial model used Monte-Carlo Monte-Carlo

Fair value of the plan at award date(*) 30.67% 18.10%

(*) As a percentage of the amount awarded.