CNP Assurances

Capital/Financing Update • Jan 11, 2023

Press Release

Paris, 11 January 2023

CNP Assurances successfully launches its first subordinated sustainable bond

A player in ecological and social transition, CNP Assurances announces the successful issue of its first sustainable bond, carried out on January 11, 2023, for an amount of €500 million. The fixed annual coupon is 5,25% until july 18, 2033 and then will be floating beyond this date and until its maturity.

The notes were placed next to 88 investors, 66% of whom were asset managers, 25% insurers and pension funds, 5% Central banks and Official institutions and 4% others, based in Germany/Austria/Switzerland (22%), Southern Europe (21%), Benelux (18%), UK/Ireland (17%), France (15%), Nordics (3%) and others countries (4%). The issue was 1,9 times oversubscribed with a total order book of €974 million, attesting to investor confidence in CNP Assurances' financial strength.

The sustainable subordinated bond will mature on July 18, 2053 with early redemption options from january 18, 2033. This issue constitutes Tier 2 regulatory capital in accordance with Solvency 2 regulations.

The ratings assigned to this issue by Standard & Poor's and Fitch Ratings are A- and BBB+ respectively.

The funds raised through this operation will be exclusively used to finance or re-finance, in part or in full, new and/or existing eligible Sustainable assets (Green and/or Social) as set out and defined in CNP Assurance's Sustainability Bond Framework available on the website.

The Sustainable Bond Framework as the Second Party Opinion1 are available on the website www.cnp.fr/en/the-cnp-assurances-group/investors/credit-rating-and-debt-issuances/debts

¹ SPO : Expert assessment of green, social or sustainability bond framework against the ICMA principles

About CNP Assurances

A leading player in the French personal insurance market, CNP Assurances operates in 19 countries in Europe, particularly Italy, and in Latin America – where it is very active in Brazil, its second-largest market. As an insurance, coinsurance and reinsurance provider, CNP Assurances has more than 36 million insured parties in personal risk/protection insurance worldwide and more than 11 million in savings/pension. In accordance with its business model, its solutions are distributed by multiple partners and adapt to their physical or digital distribution method, as well as to the needs of customers in each country in terms of their protection and convenience. As a responsible insurer and investor that is working towards an inclusive and sustainable society and taking action to protect as many people as possible, CNP Assurances included its corporate mission in its articles of association on 16 April 2021.

CNP Assurances is a subsidiary of La Banque Postale. It reported net profit of €1,552 million in 2021.