CREDIT AGRICOLE SA

2020 SHARE CAPITAL INCREASE RESERVED FOR EMPLOYEES OF THE CRÉDIT AGRICOLE GROUP - Seite 2

Information relating to the Company is available on its website at (www.credit-agricole.com), and in particular, in the universal registration document available on this website.

3.                   CONTEXT OF THE OFFER – SECURITIES OFFERED

The subscription of shares is proposed in the context of the French law company savings plans (plans d’épargne d’entreprise) established by the French companies which participate in the Offer and the international group company savings plan established under French law within the companies of the Scope of the Offer internationally.

The Offer is made on the basis to the Company’s shareholders’ authorisation given by the 36th resolution of the extraordinary general meeting of shareholders of May 13, 2020 and decision of the Company’s Board of Directors of August5, 2020 on the principle of an issuance of shares at a discount for the benefit of the beneficiaries defined below and the main features of the Offer. The Board of Directors delegated to the Chief Executive Officer and Deputy Chief Executive Officer of the Company the powers necessary for the implementation of the Offer.

The shares that the employees of the Crédit Agricole group may subscribe under the Offer (the “Shares) are ordinary shares with a nominal value of EUR 3 and of the same class as the existing ordinary shares. The new Shares will carry current dividend rights. They are subject to a lock-up period described in paragraph 6 below.

4.                   ADMISSION TO TRADING ON A REGULATED MARKET

The admission of the new Shares to trading on the market of Euronext Paris will be requested upon their issuance, scheduled on December 22, 2020.

Upon admission to the market of Euronext Paris, the new Shares will be entirely fungible with the shares of the Company already listed on such market and traded at the same trading line under ISIN code number FR000045072.

5.                   MAXIMUM NUMBER OF ISSUABLE SHARES

Pursuant to the decision of the Board of Directors of the Company, 32 million shares can be issued in the context of the Offer, equal to the total nominal value of 96 million euros.

6.                   SUBSCRIPTION TERMS

Beneficiaries of the offer: