Crédit Agricole S.A. Announces Final Results of its Tender Offers for USD Senior Preferred Notes and Indicative Results of its Tender Offers for EURGBP Senior Preferred Notes

THIS ANNOUNCEMENT IS FOR INFORMATION ONLY AND IS NOT AN OFFER TO PURCHASE OR A SOLICITATION OF OFFERS TO SELL ANY SECURITIES.

Montrouge 4 June 2020

Crédit Agricole S.A. Announces Final Results of its Tender Offers for USD Senior Preferred Notes and Indicative Results of its Tender Offers for EUR/GBP Senior Preferred Notes

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Crédit Agricole S.A., acting through its London Branch (the “Company”), today announced the final results for its tender offers (the “US Offers”) to purchase any and all of the four (4) series of notes denominated in USD (the “USD Notes”) listed in Table 1 below.  The Company also announced the indicative non-binding results for its tender offers (the “EUR/GBP Offers” and, together with the US Offers, the “Offers”) to purchase the eleven (11) series of Notes denominated in euros or pounds sterling (the “EUR/GBP Notes”) listed in Table 2 below, subject to an aggregate cap on the principal amount to be purchased of EUR3,500,000,000 (or equivalent) (the “Maximum Tender Amount”).

The US Offers

The US Offers were made on the terms and subject to the conditions set forth in the Offer to Purchase dated 28 May 2020 (the “Offer to Purchase”) and the related Notice of Guaranteed Delivery attached to the Offer to Purchase.

The US Offers expired at 5:00 p.m., New York City time/11:00 p.m., Central European Summer time, on 3 June 2020 (the “US Offer Expiration Date).

Pursuant to the US Offers, and subject to the USD Notes tendered pursuant to the Guaranteed Delivery Procedures, the Company will purchase USD Notes in an aggregate principal amount of USD1,604,389,000, for aggregate consideration of USD1,675,566,133.67 plus accrued interest. Table 1 below sets forth information with respect to the aggregate principal amount of each Series of USD Notes that were validly tendered (including pursuant to the Guaranteed Delivery Procedures) and not validly withdrawn at or prior to the US Offer Expiration Date.

Table 1: USD Notes

Title of Notes	CUSIP / ISIN No.	Original Issued Amount/ Principal Amount Outstanding	Principal Amount Tendered and Accepted(1)	Outstanding Principal Amount after Settlement	Offer Price(2)
USD 2.375% Senior Unsecured Fixed Rate Notes due 2021	CUSIP: 22532LAR5 (144A)/ 22532MAR3 (Reg S) ISIN: US22532LAR50 (144A)/ US22532MAR34 (Reg S)	USD1,000,000,000	USD561,157,000	USD438,843,000	USD1,020.66
USD 3.875% Senior Unsecured Fixed Rate Notes due 2024	CUSIP: