Crédit Agricole (ACA) investor relations material

Executive summary

• Net income Group share for Q2 2026 was €2,778 million (+7.8% year-over-year), with Crédit Agricole S.A. at €2,051 million (+1.4% adjusted), and H1 2026 Group net income at €3,727 million, down from €4,213 million in H1 2025.

• Revenues reached a record €10.9 billion for the Group in Q2 2026 (+12.9% year-over-year), with Crédit Agricole S.A. at €7.4 billion (+7.7%), and H1 2026 revenues stable at €14,357 million.

• Return on tangible equity was 14.3% for H1 2026, with cost-to-income ratios improving to 54.7% for Crédit Agricole S.A. and 56.5% for the Group.

• Strategic expansion continued in Italy, Germany, and France, with digital and AI initiatives accelerating, including a €500 million AI investment and the launch of a dedicated AI entity.

• Interim dividend of €0.57 per share to be paid in October 2026, representing 50% of H1 distributable results.

Financial highlights

• Group revenues for Q2 2026 were €10,880 million (+12.9% year-over-year); Crédit Agricole S.A. revenues were €7,363 million (+7.7%).

• Group net income for Q2 2026 was €2,778 million (+7.8% year-over-year), and gross operating income rose 25.8%.

• Cost/income ratio improved to 56.5% for the Group and 54.7% for Crédit Agricole S.A.

• CET1 ratio at 17.2% for the Group and 11.3% for Crédit Agricole S.A.; liquidity reserves at €475 billion.

• Cost of risk at 30bp for the Group and 38bp for Crédit Agricole S.A.; NPL ratio stable at 2.3% for the Group and 2.4% for Crédit Agricole S.A.

Outlook and guidance

• Net income and cost-to-income ratio expected to continue improving in 2026 versus 2025, with ongoing investments in AI, digital transformation, and operational efficiency.

• The Group maintains a strong solvency position, with CET1 ratios well above regulatory requirements and a TLAC ratio target of around 27% of RWAs by 2028.

• High single-digit net interest income growth guidance maintained for France; stable outlook for Italy due to competitive market.

• Used car market weakness to weigh on specialized financial services through 2026, with recovery expected from 2027.

• Macroeconomic scenarios for credit risk provisioning reflect a central scenario weighted at 60%, with adverse scenarios also considered.