First Quarter 2015 Activity Indicators

• Total revenue increased by 10% on a reported basis, benefiting from a positive Forex impact

On a comparable basis (at constant Forex):

• Total revenue increased by 2% to Euro 31.5 billion, with growth across all business lines
• Life & Savings revenue up 2% to Euro 17.5 billion; APE up 4% to Euro 1.9 billion and NBV up 1% to Euro 0.6 billion; Net flows at Euro 3.9 billion
• Property & Casualty revenue up 2% to Euro 11.4 billion, driven by growth in both commercial and personal lines
• Asset Management revenue up 7% to Euro 1.0 billion, with net inflows of Euro 19.1 billion

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