A responsible reward policy at the service of the Raison d’Être of the group - Page 43 | Crédit Agricole S.A

COMPENSATION FOR 2019 AWARDED TO EXECUTIVE CORPORATE OFFICERS

The Chairman of the Board of Directors receives only fixed compensation.

Executive corporate officers’ annual compensation includes an immediate portion and a deferred portion awarded in the form of instruments that vest subject to the fulfilment of performance conditions and the executive’s continued employment within the Group.

ANNUAL COMPENSATION AWARDED TO EXECUTIVE CORPORATE OFFICERS OF CRÉDIT AGRICOLE S.A. FOR 2019 WAS AS FOLLOWS:

DOMINIQUE LEFEBVRE CHAIRMAN OF THE BOARD OF DIRECTORS

Fixed Compensation: €520,000

PHILIPPE BRASSAC CHIEF EXECUTIVE OFFICER

Fixed Compensation: €1,100,000
Non-deferred variable compensation: €502,920
Deferred variable compensation: €754,380
Compensation: €1,257,300

XAVIER MUSCA DEPUTY CHIEF EXECUTIVE OFFICER

Fixed Compensation: €700,000
Non-deferred variable compensation: €252,680
Deferred variable compensation: €379,020
Compensation: €631,700

Mr Brassac and Mr Musca decided on 8 April 2020 to give up 50% of the amount of their variable compensation to contribute to the solidarity fund for the elderly created by Crédit Agricole in the context of the Covid-19 outbreak.

REWARD OF CRÉDIT AGRICOLE S.A. CORPORATE OFFICERS

The reward policy for Executive Corporate Officers is designed primarily to recognise long-term performance and the effective implementation of the Group’s strategic plan. In line with the company’s social focus, this policy goes beyond short-term business results to take sustainable performance aspects into account.

Each year, the Board of Directors reviews and approves the compensation of corporate officers, acting on the Compensation Committee’s recommendations. Compensation policy for the coming year and the amounts paid for the year ended are presented to shareholders for approval at the Annual General Meeting.

In order to take into account the 2022 MTP, the new regulatory framework and investor expectations, the Board of Directors proposes to its shareholders a revision of this policy in 2020. Six major developments are proposed: