Crédit Agricole Assurances announces the launch of a tender offer for two series of subordinated fixed rate resettable notes and its intention to issue Tier 2 subordinated notes

Press release Paris, 8 January 2026

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Crédit Agricole Assurances announces today the launch of a tender offer for two series of subordinated fixed rate resettable notes issued in 2016 (ISIN FR0013203734) and 2018 (ISIN FR0013312154), and its intention to issue, subject to market conditions, Tier 2 fixed rate euro subordinated notes due December 2036 (the "New Notes").

These transactions will enable Crédit Agricole Assurances to spread the maturity profile of its debt and are in line with its active capital management policy.

The invitation to qualifying holders (the "Qualifying Holders") to tender their notes for purchase by Crédit Agricole Assurances for cash (the "Tender Offer") relates to the two series of subordinated resettable notes issued in 2016 and 2018 by Crédit Agricole Assurances, with an outstanding principal amount of €1,000 million each (ISIN FR0013203734 and ISIN FR0013312154) and bearing resettable interest at fixed rates of 4.75% and 2.625% per annum, first resettable on 27 September and 29 January 2028, respectively (the "Existing Notes").

The Tender Offer commences on 8 January 2026 and will end on 15 January 2026 at 4:00 pm Central European Time (the "Expiration Time"). The terms and conditions as well as the applicable offer restrictions are set out in the document entitled "Tender Offer Memorandum" dated 8 January 2026 (the "Tender Offer Memorandum"). The final results of the Tender Offer (including the aggregate nominal amount of the Existing Notes validly tendered and effectively accepted for purchase and the allocation between each series of the Existing Notes) will be announced on 16 January 2026 (subject to any extension, withdrawal, termination, re-opening or amendment in the timing thereof in accordance with the terms of the Tender Offer Memorandum).

Uptevia is acting as Tender and Information Agent in connection with the Tender Offer. Qualifying Holders who are eligible to participate in the Tender Offer may contact Uptevia if they have any questions regarding the procedures for tendering their Existing Notes and may request the Tender Offer Memorandum from Uptevia by email to [email protected], [email protected] or [email protected].

The New Notes, the terms of which are expected to be determined prior to the expiry of the Tender Offer subject to market conditions, will be structured so that the New Notes are eligible for Tier 2 capital under Solvency II. It is envisaged that the New Notes will be rated by S&P Global Ratings, with an "expected" rating of BBB+, and that admission to trading on the regulated market of Euronext Paris will be sought, subject to the approval by the Autorité des marchés financiers of a prospectus which will set out the terms and conditions of the New Notes.

Crédit Agricole Assurances is rated A/stable outlook by S&P Global Ratings.