COFACE SA

Governance evolution – Bernardo Sanchez Incera appointed Chairman of the Board of Directors

Paris, 10^th February 2021 – 17.35

COFACE SA: Governance evolution – Bernardo Sanchez Incera appointed Chairman of the Board of Directors

Following the change in the shareholder base and the arrival of Arch Capital Group Ltd. (Arch) - (NASDAQ: ACGL) - in Coface's capital, COFACE SA's Board of Directors is evolving. Bernardo Sanchez Incera has been appointed Chairman of the Board of Directors.

The transaction between Natixis and Arch for the sale of a stake in Coface's capital, which was announced on 25 February 2020, has received all the necessary approvals for its closing. As a result, Arch now holds 44.8m shares of Coface, representing 29.5% of the company's capital.

In accordance with the statements made when the agreement was announced, all the directors representing Natixis have resigned. The Board then co-opted four directors presented by Arch as well as Bernardo Sanchez Incera, who was then appointed Chairman of the Board.

As of today, Coface's Board of Directors has therefore 10 members, 4 women and 6 men, the majority (6) of whom are independent directors.

Coface’s general management wants to thank Natixis and BPCE board members for their personal involvement and their contribution to Coface’s governance over the past years.

The Board of Directors reaffirmed its confidence in the management team and the relevance of the Build to Lead strategic plan.

Bernardo Sanchez Incera, Chairman of Coface, declared:

“First of all, I would like to thank Coface's Board of Directors for the trust they have placed in me. In this very unusual period, I have a total confidence in the ability of all the Coface teams, under the leadership of Xavier Durand, to continue implementing the Build to Lead strategic plan. I am also pleased to welcome the representatives of Arch Capital Group. “

Marc Grandisson, Chief Executive Officer of Arch Capital Group Ltd., for its part declared:
“Our investment in Coface shows our confidence in the group's strategy and its team. 2020 has demonstrated the strategic importance of credit insurance for inter-company trade. We are delighted to accompany Coface in its future development.”

Chairman of the Board of Directors
	Bernardo Sanchez Incera – age: 60   A Spanish national, Bernardo Sanchez-Incera joined Societe Generale in 2009 before occupying the position of Deputy Chief Executive Officer of Societe Generale from January 2010 to May 2018. Previously he was Chief Executive Officer of the Monoprix group from 2004 to 2009, Chief Executive Officer of Vivarte from 2003 to 2004, Chairman of LVMH Mode et Maroquinerie Europe between 2001 and 2003 and International Director of the Inditex group from 1999 to 2001. Mr Sanchez-Incera also exercised the functions of Chief Executive Officer of Zara France from 1996 to 1999, after having been Chief Executive Officer of Banca Jover Spain from 1994 to 1996 and both Director and Board member of Crédit Lyonnais in Belgium from 1992 to 1994. He started his career as business operator and Deputy Director of the La Défense business centre at Crédit Lyonnais in Paris from 1984 to 1992. Holder of an MBA from INSEAD, Bernardo Sanchez-Incera is a graduate of the Institut d’études politiques de Paris (Sceinces Po) and has a master’s degree and a DESS in Economics.
Independent directors
	Éric HEMAR – age: 57