Societe Generale : Pillar 3 report – 30.09.2025

A French corporation with share capital of 958,618,482.50 euros Registered office: 29 boulevard Haussmann - 75009 PARIS

552 120 222 R.C.S. PARIS

RISK REPORT PILLAR 3 30.09.2025 CONTENTS

1. KEY FIGURES 3

2. CAPITAL MANAGEMENT AND ADEQUACY 6

   1. Regulatory capital 6

   2. Ris k-weighted ass ets and capital requirements 7

   3. Leverage ratio 10

   4. Financial conglomerate ratio 10

3. CREDIT RISK 11

   1. Additional quantitative information on credit ris k 11

4. COUNTERPARTY CREDIT RISK 12

   1. Quantitative information 12

5. MARKET RISK 13

   1. Change in trading VaR 13

   2. Additional quantitative information on market risk 14

6. LIQUIDITY RISK 15

   1. Liquidity reserve 15

   2. Regulatory ratios 15

7. APPENDICES 18

   1. Index of the tables in the Ris k Report 18

1. ‌KEY FIGURES

   The amounts forming the prudential solvency and leverage ratios which are featured hereinafter take into account the transitional arrangements relating to the introduction of the IFRS 9 standard, over the whole historical period considered.

   The information disclosed in this quarterly report takes into account the developments introduced by the European authorities with Implementing Regulation (EU) No 2024/1623(CRR3) amending Regulation (EU) No 2021/637 (CCR2) as regards the prudential disclosure requirements to which the Société Générale group is subject. Pillar 3 disclosure is evolving in line with the EBA technical standards (EBA/ITS/2024/06).

   TABLE 1: KEY METRICS (KM1)

   (In EURm)		30.09.2025	30.06.2025	31.03.2025	31.12.2024	30.09.2024®
   AVAILABLE OWN FUNDS (AMOUNTS)
   1	Common Equity Tier 1 (CET1) capital	51,984	52,536	51,890	51,764	50,875
   2	Tier 1 capital	61,892	61,421	62,428	62,573	60,131
   3	Total capital	71,931	71,565	74,092	73,744	70,572
   RISK-WEIGHTED ASSETS (RWA)
   4	Total risk-weighted assets	388,462	388,029	393,072	389,503	392,339
   4a	Total risk exposure pre-floor	388,462	388,029	393,072
   CAPITAL RATIOS (AS A PERCENTAGE OF RWA)
   5	Common Equity Tier 1 ratio (%)	13.38%	13.54%	13.20%	13.29%	12.97%
   5b	Common Equity Tier 1 ratio considering unfloored TREA (%)	13.38%	13.54%	13.20%
   6	Tier 1 ratio (%)	15.93%	15.83%	15.88%	16.06%	15.33%
   6b	Tier 1 ratio considering unfloored TREA (%)	15.93%	15.83%	15.88%
   7	Total capital ratio (%)	18.52%	18.44%	18.85%	18.93%	17.99%
   7b	Total capital ratio considering unfloored TREA (%)	18.52%	18.85%	18.85%
   ADDITIONAL OWN FUNDS REQUIREMENTS TO ADDRESS RISKS OTHER THAN THE RISK OF EXCESSIVE LEVERAGE (AS A PERCENTAGE OF RISK-WEIGHTED EXPOSURE AMOUNT)(1)
   EU 7d	Additional own funds requirements to address risks other than the risk of excessive leverage (%)	2.38%	2.38%	2.38%	2.42%	2.42%
   EU 7e	of which to be made up of CET1 capital (%)	1.40%	1.40%	1.40%	1.44%	1.44%
   EU 7f	of which to be made up of Tier 1 capital (%)	1.82%	1.82%	1.82%	1.86%	1.86%
   EU 7g	Total SREP own funds requirements (%)(1)	10.38%	10.38%	10.38%	10.42%	10.42%
   COMBINED BUFFER REQUIREMENT (AS A PERCENTAGE OF RWA)
   8	Capital conservation buffer (%)	2.50%	2.50%	2.50%	2.50%	2.50%
   EU 8a	Conservation buffer due to macro-prudential or systemic risk identified at the level of a Member State (%)	-	-	-	-	-
   9	Institution-specific countercyclical capital buffer (%)	0.83%	0.82%	0.83%	0.82%	0.80%
   EU 9a	Systemic risk buffer (%)	0.04%	-	-	-	-
   10	Global Systemically Important Institution buffer (%)	1.00%	1.00%	1.00%	1.00%	1.00%
   EU 10a	Other Systemically Important Institution buffer	1.00%	1.00%	1.00%	1.00%	1.00%
   11	Combined buffer requirement (%)	4.37%	4.33%	4.33%	4.32%	4.30%
   EU 11a	Overall capital requirements (%)	14.75%	14.70%	14.71%	14.74%	14.72%
   12	CET1 available after meeting the total SREP own funds requirements (%)	7.48%	7.64%	7.30%	7.35%	7.03%

   LEVERAGE RATIO
   13	Leverage ratio total exposure measure(2)	1,447,550	1,405,566	1,425,723	1,442,125	1,435,055
   14	Leverage ratio (%)	4.28%	4.37%	4.38%	4.34%	4.19%
   ADDITIONAL OWN FUNDS REQUIREMENTS TO ADDRESS RISKS OF EXCESSIVE LEVERAGE (AS A PERCENTAGE OF TOTAL EXPOSURE MEASURE)
   EU 14a	Additional own funds requirements to address the risk of excessive leverage (%)	0.10%	0.10%	0.10%	0.10%	0.10%
   EU 14b	of which to be made up of CET1 capital (%)	-	-	-	-	-
   EU 14c	Total SREP leverage ratio requirements (%)(2)	3.10%	3.10%	3.10%	3.10%	3.10%
   LEVERAGE RATIO BUFFER AND OVERALL LEVERAGE RATIO REQUIREMENT (AS A PERCENTAGE OF TOTAL EXPOSURE MEASURE)
   EU 14d	Leverage ratio buffer requirement (%)	0.50%	0.50%	0.50%	0.50%	0.50%
   EU 14e	Overall leverage ratio requirements (%)(3)	3.60%	3.60%	3.60%	3.60%	3.60%
   LIQUIDITY COVERAGE RATIO
   15	Total high-quality liquid assets (HQLA) (Weighted value - average)	272,087	277,293	282,881	286,262	288,265
   EU 16a	Cash outflows - Total weighted value	390,334	388,513	386,502	386,281	378,758
   EU 16b	Cash inflows - Total weighted value	208,402	206,016	200,282	202,702	195,483
   16	Total net cash outflows (adjusted value)	181,933	182,497	186,220	183,579	183,275
   17	Liquidity coverage ratio (%)	149.85%	152.19%	152.18%	156.39%	118.95%
   NET STABLE FUNDING RATIO
   18	Total available stable funding	637,520	630,222	637,354	660,801	660,284
   19	Total required stable funding	545,594	540,329	552,218	566,450	569,779
   20	NSFR ratio (%)	116.85%	116.64%	115.42%	116.66%	115.88%
   ® re submission

   1. The own funds requirement applicable to Societe Generale group in relation to Pillar 2 reaches 2.38% (of which 1.40% in CET1) as of 01/01/2025 resulting in a total SREP own funds requirement of 10.38%.

   2. Over the whole historical period considered, the measurement of the leverage exposure has been taking into account the option to exempt temporarily some central bank exposures in accordance with the European regulation.

   3. The leverage ratio requirement applicable to Societe Generale group is 3.6% of which 3.1% of the Pillar 1 regulatory requirement and 0.5% related to OLRR cushions.

   TABLE 2: TLAC - KEY METRICS (KM2)

   (in EURm)		MREL	TLAC
   		30.09.2025	30.09.2025	30.06.2025	31.03.2025	31.12.2024	30.09.2024(R)
   OWN FUNDS AND ELIGIBLE LIABILITIES, RATIOS AND COMPONENTS (1)
   1	Own funds and eligible liabilities	129,028	116,671	116,026	115,787	115,758	108,418
   EU-1a	of which own funds and subordinated liabilities	116,671
   2	Total RWA of the Group	388,462	388,462	388,029	393,072	389,503	392,339
   3	Own funds and eligible liabilities as a percentage of RWA	33.21%	30.03%	29.90%	29.46%	29.72%	27.63%
   EU-3a	of which own funds and subordinated liabilities	30.03%
   4	Total exposure measure of the Group	1,447,550	1,447,550	1,405,566	1,425,723	1,442,125	1,435,055
   5	Own funds and eligible liabilities as percentage of the total exposure meas ure	8.91%	8.06%	8.25%	8.12%	8.03%	7.55%
   EU-5a	of which own funds and subordinated liabilities	8.06%
   6a	Does the subordination exemption in Article 72b(4) of the CRR apply? (5% exemption)		no	no	no	no	no
   6b	Aggregate amount of permitted non-subordinated eligible liabilities instruments if the subordination discretion as per Article 72b(3) CRR is applied (max 3.5% exemption)		N/A	N/A	N/A	N/A	N/A
   6c	If a capped subordination exemption applies under Article 72b (3) CRR, the amount of funding issued that ranks pari passu with excluded liabilities and that is recognised under row 1, divided by funding issued that ranks pari passu with excluded Liabilities and that would be recognised under row 1 if no cap was applied (%)		N/A	N/A	N/A	N/A	N/A
   MINIMUM REQUIREMENT FOR OWN FUNDS AND ELIGIBLE LIABILITIES (MREL)
   EU-7	MREL requirement expressed as percentage of the total risk exposure amount	22.73%
   EU-8	Of which to be met with own funds or subordinated liabilities	27.48%
   EU-9	MREL requirement expressed as percentage of the total exposure measure	6.13%
   EU-10	Of which to be met with own funds or subordinated liabilities	6.13%

   1. With IFRS 9 phasing effect taken into account over the whole historical period considered in 2024

   2. ® re submission

   As of 30 September 2025, the Group presents a TLAC ratio of 30,0% of risk-weighted assets (RWA) for a regulatory requirement of 22.4%, and 8.1% of the leverage exposure for a regulatory requirement of 6.75%.

   As of Q2-2024, Societe Generale Group has chosen to waive the possibility offered by Article 72b (3) of the CRR to use senior preferred debt for compliance with its TLAC requirement.

2. ‌CAPITAL MANAGEMENT AND ADEQUACY

   1. ‌REGULATORY CAPITAL

      TABLE 3: REGULATORY CAPITAL AND SOLVENCY RATIOS (1)

      (In EURm)	30.09.2025	31.12.2024
      Shareholders' equity (IFRS), Group share	69,826	70,255
      Deeply subordinated notes	(9,372)	(10,526)
      Perpetual subordinated notes		-
      Group consolidated shareholders' equity net of deeply subordinated and perpetual subordinated notes	60,454	59,729
      Non-controlling interests	9,643	9,332
      Intangible assets	(2,200)	(2,413)
      Goodwill	(4,861)	(4,897)
      Dividends proposed (to the General Meeting) and interest expenses on deeply subordinated and perpetual subordinated notes	(1,528)	(1,853)
      Deductions and regulatory adjustments	(9,524)	(8,135)
      COMMON EQUITY TIER 1 CAPITAL	51,984	51,764
      Deeply subordinated notes and preferred shares	9,577	10,526
      Other additional Tier 1 capital	468	422
      Additional Tier 1 deductions	(137)	(139)
      TOTAL TIER 1 CAPITAL	61,892	62,573
      Tier 2 instruments	10,188	11,461
      Other Tier 2 capital	296	225
      Tier 2 deductions	(445)	(514)
      Total regulatory capital	71,931	73,744
      TOTAL RISK-WEIGHTED ASSETS	388,462	389,503
      Credit and counterparty credit risk-weighted assets	314,608	327,224
      Market risk-weighted assets	10,914	12,195
      Operational risk-weighted assets	62,940	50,085
      Solvency ratios
      Common Equity Tier 1 ratio	13.38%	13.29%
      Tier 1 ratio	15.93%	16.06%
      Total capital ratio	18.52%	18.93%
      (1) Phased-in ratios based on the CRR3/CRD6 rules applicable, including Danish compromise for Insurance

   2. ‌RISK-WEIGHTED ASSETS AND CAPITAL REQUIREMENTS

      TABLE 4: OVERVIEW OF RISK-WEIGHTED ASSETS (OV1)

      		Risk-weighted assets (RWA)		Total own funds requirements
      (In EURm)		30.09.2025	31.12.2024	30.09.2025
      1	Credit ris k (excluding counterparty credit risk)	282,082	297,927	22,567
      2	o.w. standardised approach	118,435	97,959	9,475
      3	o.w. foundation IRB (FIRB) approach	49,177	4,254	3,934
      4	o.w. s lotting approach	831	707	66
      EU 4a	o.w. equities under the s imple ris k-weighted approach		2,178
      EU 4b	o.w. other equities under IRB approach		16,260
      5	o.w. Advanced IRB (A-IRB) approach	102,208	176,570	8,177
      6	Counterparty credit ris k - CCR	19,515	21,883	1,561
      7	o.w. standardised approach(1)	6,327	6,375	506
      8	o.w. internal model method (IMM)	10,247	10,546	820
      EU 8a	o.w. exposures to CCP	1,966	1,470	157
      EU 8b	o.w. credit valuation adjustment - CVA		2,723
      9	o.w. other CCR	976	768	78
      10	Credit valuation adjustments ris k - CVA ris k	5,757		461
      EU 10a	o.w. standardised approach (SA)	-		-
      EU 10b	o.w. basic approach (F-BA and R-BA)	5,757		461
      EU 10c	o.w. s implified approach	-		-
      15	Settlement ris k	2	8	0
      16	Securitisation exposures in the non-trading book (after the cap)	7,253	7,406	580
      17	o.w. internal ratings-bas ed approach (SEC-IRBA)	2,024	2,130	162
      18	o.w. external ratings-based approach (SEC-ERBA) (incL IAA)	3,877	4,063	310
      19	o.w. standardized approach (SEC-SA)	1,352	1,213	108
      EU 19a	o.w. exposures weighted at 1,250% (or deducted from own funds)	-	-	-
      20	Position, foreign exchange and commodities ris ks (Market ris k)	10,909	12,195	873
      21	o.w. the Alternative standardised approach (A-SA)
      EU 21a	o.w. the Simplified standardised approach (S-SA)	2,369	2,825	190
      	o.w. the Internal Models Approach (IMA)	7,960	9,370	637
      EU 22	o.w. the Alternative Internal Models Approach (A-IMA)
      EU 22a	Large expos ures	-	-	-
      23	Reclas sifications between trading and non-trading books	-		-
      24	Operational ris k	62,940	50,085	5,035
      EU 24a	o.w. basic indicator approach		-
      EU 24b	o.w. standardised approach		4,730
      EU 24c	o.w. advanced measurement approach		45,355
      EU 24a	Exposures to crypto-as sets	4		0
      25	Amounts (included in the "credit risk" section above) below the thresholds for deduction (subject to 250% risk weight)	6,146	6,794	492
      26	Output floor applied (%)	50%		-
      27	Floor adjustment (before application of transitional cap)	-		-
      28	Floor adjustment (after application of transitional cap)	-		-
      29	TOTAL	388,462	389,503	31,077

      TABLE 5: COMPARISON OF MODELLED AND STANDARDISED RISK WEIGHTED EXPOSURE AMOUNTS AT RISK LEVEL (CMS1)

      (In EURbn)		a	b	c	d	Eu d
      		RWA for modelled approaches that banks have supervisory approval to use	RWA for portfolios where standardised approaches are useds	Total RWA	RWA calculated using full standardised approach (1)	RWA , that is the base of the output floor
      1	Credit risk (excluding counterparty credit risk)	163,647	118,435	282,082	371,069	342,061
      2	Counterparty credit risk	13,465	6,050	19,515	71,321	55,291
      3	CVA		5,757	5,757	5,757	5,757
      4	Securitisation exposures in the banking book	5,901	1,352	7,253	11,643	8,243
      5	Market risk	8,540	2,369	10,909	28,095	28,095
      6	Operational risk		62,940	62,940	62,940	62,940
      7	Others risk weighted exposure amounts		6	6	2	2
      8	Total	191,553	196,909	388,462	550,827	502,389
      (1) Data shown in column "d" is calculated with rules and regulation applicable in 2033, including the transitional provisions of Article 495 of the CRR Regulation, and based on a static balance sheet assumption, without taking into account dynamic balance-sheet management or any mitigation actions. Regarding, market ris k positions applying the standards of the Fundamental Review of the Trading Book ("FRTB") as calculated in column "d" does not correspond to the Group's estimates of the impact on the CET1 ratio, which is confirmed at c. -40bps.

      .

      TABLE 6 : COMPARISON OF MODELLED AND STANDARDISES RISK WEIGHTER EXPOSURE AMOUNTS FOR CREDIT RISK ASSET CLASS LEVEL (CMS2)

      (In EUR bn)		RWA for modelled approaches that institutions have supervisory approval to use	RWA if re-computed using the standardised approach	Total RWA	RWA calculated using full standardised approach	RWA, that is the base of the output floor
      1	Central governments and central banks	7,683	7,175	8,466	7,927	7,927
      EU 1a	Regional governments or local authorities	379	340	483	443	443
      EU 1b	Public sector entities	314	1,042	363	1,091	1,091
      EU 1c	Categorised as Multilateral Development Banks in SA	316	216	330	231	231
      EU 1d	Categorised as international organisations in SA	-	-	-	-	-
      2	Institutions	3,109	2,973	3,987	3,884	3,884
      3	Equity	-	-	14,725	14,725	14,725
      5	Corporates	95,866	130,210	123,505	174,399	158,292
      5.1	o.w. F-IRB is applied	42,247	58,621	42,247	58,621	58,621
      5.2	o.w. A-IRB is applied	53,619	71,589	53,619	71,501	71,501
      EU 5a	o.w. Corporates - General	79,067	97,118	105,365	137,139	123,860
      EU 5b	o.w. Corporates - Specialised lending	16,799	33,092	18,140	37,260	34,432
      EU 5c	o.w. Corporates - Purchased receivables	582	1,052	582	1,741	1,741
      6	Retail	13,805	25,930	32,974	45,634	45,634
      6.1	o.w. Retail - Qualifying revolving	1,076	2,204	3,363	4,436	4,436
      6.1a	o.w. Retail - Purchased receivables	6	7	6	7	7
      6.1b	o.w. Retail - other	12,723	23,720	29,606	41,191	41,191
      6.2	Retail - Secured by residential real estate	14,840	25,659	28,517	27,692	27,692
      EU 7a	Categorised as secured by mortgages on immovable properties and ADC exposures in SA	31,529	47,689	38,118	67,014	54,114
      EU7b	Collective investment undertakings (CIU)	-	-	222	222	222
      EU7c	Categorised as exposures in default in SA	9,628	5,463	12,026	7,690	7,690
      EU7d	Categorised as subordinated debt exposures in SA	308	298	308	298	298
      EU7e	Categorised as covered bonds in SA	-	98	-	98	98
      EU7f	Categorised as claims on institutions and corporates with a short-term credit assessment in SA	-	1,544	113	1,657	1,657
      8	Autres	710	-	46,461	45,757	45,757
      9	Total	163,647	222,978	282,082	371,069	342,061

      TABLE 7: DISTRIBUTION OF RWA BY CORE BUSINESS AND RISK TYPE

      (In EURbn)	Credit and counterparty credit	Market	Operational	Total 30.09.2025	Total 31.12.2024
      French Retail,Private Banking and Insurance	109.4		18.6	128.0	120.3
      International Retail, Mobility and Leasing Services	103.9	0.1	19.2	123.2	120.9
      Global Banking and Investor Solutions	88.8	9.5	24.9	123.2	127.3
      Corporate Centre	12.5	1.3	0.3	14.1	21.1
      Group	314.6	10.9	62.9	388.5	389.5

      As at 30 September 2025, RWA (EUR 388.5 billion) were distributed as follows:

      • credit and counterparty credit risks accounted for 81% of RWA (of which 33% for International Retail, Mobility and Leasing Services);

      • market risk accounted for 3% of RWA (of which 87% for Global Banking and Investor Solutions);

      • operational risk accounted for 16% of RWA (of which 40% for Global Banking and Investor Solutions).

   3. ‌LEVERAGE RATIO

      TABLE 8: LEVERAGE RATIO SUMMARY AND TRANSITION FROM PRUDENTIAL BALANCE SHEET TO LEVERAGE EXPOSURE (1)

      (In EURm)	30.09.2025	31.12.2024
      Tier 1 capital(2)	61,892	62,573
      Total as s ets in prudential balance sheet(3)	1,423,369	1,407,367
      Adjustments for derivative financial instruments	(13,709)	1,540
      Adjustments for securities financing transactions (4)	18,211	13,982
      Off-balance sheet exposure (loan and guarantee commitments)	119,209	127,198
      Technical and prudential adjustments	(99,530)	(107,962)
      Leverage ratio expos ure	1,447,550	1,442,125
      Leverage ratio	4.28%	4.34%

      1. Phased-in ratios based on the CRR3/CRD6 rules applicable, including Danish compromise for Insurance.

      2. The capital overview is available in table 3.

      3. The prudential balance sheet corres ponds to the IFRS balance sheet less entities accounted for through the equity method (mainly insurance subsidiaries ).

      4. Securities financing trans actions: repurchase transactions, securities lending or borrowing transactions and other s imila r trans actions.

   4. ‌FINANCIAL CONGLOMERATE RATIO

      As at 30 June 2025, the financial conglomerate ratio was 128.8%, consisting of a numerator "Own funds of the Financial Conglomerate" of EUR 77.8 billion, and a denominator "Regulatory requirement of the Financial Conglomerate" of EUR

      60.4 billion.

      As at 31 December 2024, the financial conglomerate ratio was 132.8%, consisting of a numerator "Own funds of the Financial Conglomerate" of EUR 79.5 billion, and a denominator "Regulatory requirement of the Financial Conglomerate" of EUR 59.9 billion.

      .

3. ‌CREDIT RISK

   1. ‌ADDITIONAL QUANTITATIVE INFORMATION ON CREDIT RISK

      TABLE 9: RWA FLOW STATEMENT OF CREDIT RISK EXPOSURES UNDER THE IRB APPROACH (CR8)

      (In EURm)	Risk-weighted assets (RWA)
      RWA as at the end of the previous reporting period (36.06.2025)	171,238
      Asset size (+/-)	(1,194)
      Asset quality (+/-)	19
      Model updates (+/-)	1,241
      Methodology and policy (+/-)	730
      Acquisitions and disposals (+/-)
      Foreign exchange movements (+/-)	(17)
      Other (+/-)
      RWA as at the end of the reporting period (30.09.2025)	172,016

4. ‌COUNTERPARTY CREDIT RISK

   1. ‌QUANTITATIVE INFORMATION

      TABLE 10: RWA FLOW STATEMENT OF COUNTERPARTY CREDIT RISK EXPOSURES UNDER THE IMM (CCR7)

      (In EURm)	Risk-weighted assets (RWA)
      RWA as at end of previous reporting period (30.06.2025)	10,448
      Asset size	80
      Credit quality of counterparties	(146)
      Model updates (IMM only)
      Methodology and policy (IMM only)
      Acquisitions and disposals
      Foreign exchange movements	(23)
      Other
      RWA as at end of reporting period (30.09.2025)	(10,358)

5. ‌MARKET RISK

   1. ‌CHANGE IN TRADING VAR

      Quarterly average of the 99% Value at Risk (VaR), a composite indicator used for the day-to-day monitoring of the market risk incurred by the bank, on the scope of its trading activities, in EUR million:

      
      
      
      
      
      
      

   2. ‌ADDITIONAL QUANTITATIVE INFORMATION ON MARKET RISK

      TABLE 11: RWA FLOW STATEMENT OF MARKET RISK EXPOSURES UNDER THE INTERNAL MODEL APPROACH (MR2-B)

      (In EURm)	VaR	SVaR	IRC	CRM	Other	Total RWA	Total own funds requirements
      RWA at end of previous reporting period (30.06.2025)	1,960	5,279	990	186	-	8,415	673
      Regulatory adjustment	(1,186)	(4,067)	-	(19)	-	(5,272)	(422)
      RWA at the previous quarter-end (end of the day)	774	1,212	990	166	-	3,143	251
      Movement in risk levels	(33)	427	120	42	-	555	44
      Model updates/changes	-	-	-	-	-	-	-
      Methodology and policy	-	-	-	-	-	-	-
      Acquisitions and disposals	-	-	-	-	-	-	-
      Foreign exchange movements	1	2	-	-	-	2	0
      Other	-	-	-	-	-	-	-
      RWA at the end of the disclosure period (end of the day)	742	1,640	1,109	208	-	3,700	296
      Regulatory adjustment	1,474	3,367	0	0	-	4,840	387
      RWA at end of reporting period (30.09.2025)	2,215	5,007	1,109	208	-	8,540	683

      Effects are defined as follows:

      • Regulatory adjustment: difference between RWA used for the purpose of regulatory RWA calculation on the one hand and RWA of the last day or of the last week of the period on the other hand;

      • Movement in risk levels: changes due to position changes;

      • Model updates/changes: significant updates to the model to reflect recent experience (e.g. recalibration), as well as significant changes in model scope;

      • Methodology and policy: methodology changes to the calculations driven by regulatory policy changes;

      • Acquisitions and disposals: modifications due to acquisition or disposal of business/product lines or entities;

      • Foreign exchange movements: changes arising from foreign currency fluctuations.

6. ‌LIQUIDITY RISK

   1. ‌LIQUIDITY RESERVE

      TABLE 12: LIQUIDITY RESERVE

      (In EURbn)	30.09.2025	31.12.2024
      Central bank deposits (excluding mandatory reserves)	154	190
      HQLA securities available and transferable on the market (after haircut)	127	82
      Other available central bank-eligible assets (after haircut)	46	43
      TOTAL	328	315

   2. ‌REGULATORY RATIOS

      Regulatory requirements for liquidity risk are managed through two ratios:

      • the Liquidity Coverage Ratio (LCR), which aims to ensure that banks hold sufficient liquid assets or cash to survive to a significant stress scenario combining a market crisis and a specific crisis and lasting for one month The minimum regulatory requirement is 100% at any time;

      • the Net Stable Funding Ratio (NSFR), a long-term ratio of the balance sheet transformation, which compares the financing needs generated by the activities of institutions with their stable resources; The minimum level required is 100%.

        In order to meet these requirements, the Group ensures that its regulatory ratios are managed well beyond the minimum regulatory requirements set by Directive 2019/878 of the European Parliament and of the Council of 20 May 2019 (CRD5) and Regulation (EU) 2019 /876 of the European Parliament and of the Council of 20 May 2019 (CRR2)1.

        Societe Generale's LCR ratio has always been above 100%: 147 % at the end of September 2025 compared to 148% at the end of June 2025.

        Since it came into force, the NSFR ratio has always been above 100% and stands at 117% at the end of September 2025 compared to 117% at the end of June 2025.

        In addition, in order to complete its system, the Group has adapted monitoring indicators, in particular the monitoring of liquidity gap under various stress scenarios and under normal conditions, by significant currency and all currencies combined, which may be subject to additional constraints in terms of objective and minimum level. USD liquidity indicators are also specifically monitored.

        ‌1 Several amendments to European regulatory standards were adopted in May 2019: The text on the CRL, published in October 2014, has s ince been

        supplemented by a Delegated Act corrigendum which entered into force on 30 April 2020. The minimum level of the required ratio is 100% s ince January 1, 2018. The NSFR requirement included in CRR2 (EU) 2019/876 of 20 May 2019 has applied s ince June 2021. The required ratio is 100%.

        TABLE 13: LIQUIDITY COVERAGE RATIO - LCR (LIQ1)

        The liquidity coverage ratio is calculated as the simple average of month-end observations over the twelve months preceding the end of each quarter.

        Prudential Group (In EURm)	Total unweighted value (in average)				Total weighted value (in average)
        Quarter ending on	30.09.2025	30.06.2025	31.03.2025	31.12.2024	30.09.2025	30.06.2025	31.03.2025	31.12.2024
        High-quality liquid as sets
        Total high-quality liquid ass ets (HQLA)					272,087	277,293	282,881	286,262
        Cash - Outflows
        Retail deposits and deposits from small business customers, of which:	230,680	232,602	234,692	236,545	16,764	17,075	17,580	17,875
        Stable deposits	139,480	141,116	141,015	140,056	6,974	7,056	7,051	7,003
        Less stable deposits	78,684	79,034	82,213	85,440	9,761	9,996	10,515	10,868
        Unsecured wholesale funding	295,643	294,927	294,724	292,906	152,661	150,778	149,454	147,979
        Operational deposits (all counterparties) and deposits in networks of cooperative banks	68,331	68,605	68,557	67,445	16,551	16,554	16,537	16,306
        Non-operational deposits (all counterparties)	211,622	212,537	214,687	214,479	120,419	120,440	121,436	120,691
        Unsecured debt	15,691	13,785	11,481	10,983	15,691	13,785	11,481	10,983
        Secured wholesale funding					43,987	43,450	44,686	42,387
        Additional requirements	211,155	211,971	215,049	215,661	63,992	66,138	69,274	70,916
        Outflows related to derivative exposures and other collateral requirements	26,501	27,233	27,612	27,468	22,136	23,122	23,744	23,993
        Outflows related to loss of funding on debt products	8,927	10,600	13,100	14,696	8,901	10,574	13,074	14,696
        Credit and liquidity facilities	175,727	174,138	174,338	173,497	32,955	32,442	32,456	32,228
        Other contractual funding obligations	106,059	104,266	98,732	100,393	106,047	104,257	98,726	100,391
        Other contingent funding obligations	137,383	122,652	121,174	118,921	6,883	6,813	6,780	6,731
        TOTAL CASH OUTFLOWS					390,334	388,511	386,501	386,280
        CASH - INFLOWS
        Secured lending (eg reverse repos)	362,731	355,552	353,268	337,090	34,970	35,143	35,513	34,082
        Inflows from fully performing exposures	37,717	39,186	40,264	41,746	29,504	30,340	31,172	31,975
        Other cash inflows	147,500	144,220	137,560	140,695	143,927	140,533	133,597	136,646
        (Difference between total weighted inflows and total weighted outflows arising from transactions in third countries where there are transfer restrictions or which are denominated in non-convertible currencies)					-	-	-	-
        (Excess inflows from a related specialised credit institution)					-	-	-	-
        TOTAL CASH INFLOWS	547,949	538,957	531,092	519,531	208,402	206,016	200,282	202,702
        Fully exempt Inflows	306	256	190	107	61	51	38	21
        Inflows subject to 90% cap	-	-	-	-	-	-	-	-
        Inflows subject to 75% cap	414,284	408,006	398,176	400,852	208,340	205,965	200,244	202,681
        TOTAL ADJUSTED VALUE
        LIQUIDITY BUFFER					272,087	277,293	282,881	286,262
        TOTAL NET CASH OUTFLOWS					181,933	182,495	186,219	183,577
        LIQUIDITY COVERAGE RATIO (%)					149.85%	152.20%	152.19%	156.40%

        As of 30 September 2025, the average of Societe Generale's LCR stood at 150% (arithmetic average of the 12 LCR monthly values from October 2024 to September 2025, in accordance with the prudential disclosure requirement emanating from Regulation (EU) No 2019/876).

        Reported LCR was 147% as of 30 September 2025, or EUR 90 billion of liquidity surplus over the regulatory requirement of 100%. This compares to 148%, or EUR 87 billion of liquidity surplus, as of 30 June 2025.

        The LCR numerator was EUR 282 billion as of 30 September 2025, increasing by EUR 14.5 billion compared with 30 June 2025. The net cash outflows increased by EUR 11 billion over the same period.

        As of 30 September 2025, the numerator of the LCR includes EUR 154 billion of withdrawable central bank reserves (55%) and EUR 109 billion of Level 1 high-quality securities (39%), as well as 19 billion (7%) of Level 2 or assimilated. The LCR numerator, which amounted to EUR 138 billion as of 30 June 2025, contained withdrawable central bank reserves (52%) and EUR 112 billion of Level 1 high-quality securities (42%), as well as 17 billion (6.5%) of Level 2 or assimilated.

        As of 30 September 2025, the euro represents 41% of Societe Generale 's total high quality liquid assets. The US dollar also accounts for more than 5% of the Group's liquid assets, with a weight of 35%, as well as the Japanese yen with a weight of 10%.

        The liquidity profile of the Group in US dollars is framed by a set of thresholds and metrics, including indicators of liquidity excess under stress, in US dollar.

        Societe Generale ensures it does not overly rely on any given individual counterparty or segment by setting and monitoring concentration risk metrics on secured and unsecured markets. For instance, unsecured short-term funding is subject to thresholds by counterparty type (Corporates, Central banks, Public sector, Asset managers, etc). Secured funding is framed to ensure that the drying up of liquidity in any segment of the repo market (counterparty segments, underlying collateral segments, currencies) would not materially impair the refinancing of inventories in capital markets. In addition to this, the Group's long-term funding is structurally diversified. The plain vanilla funding programme is split into various currencies, instruments and geographies and seeks to continuously expand the investor base. Structured issuances are highly granular (multiple distributing networks) and provide a diversification in terms of nature of investors.

        Societe Generale impacts its LCR computation to factor in collateral needs for covered bonds issuance vehicles and other vehicles used in capital markets activities, in case of a 3-notch downgrade of Societe Generale's credit rating. Societe Generale also impacts its LCR computation to factor in a potential adverse market shock based on a 24-month historical look-back approach.

        Intraday funding requirements give rise to dedicated reserves which are taken into account when computing liquidity stress tests based on internal models, which ground the control of the Societe Generale Group survival horizon under stress.

7. ‌APPENDICES

   1. ‌INDEX OF THE TABLES IN THE RISK REPORT

	Table		Page in Pillar 3 report 31.12.2024	Page in Pillar 3 report 31.03.2025
	number				EBA
Chapter	Pillar 3	Title			regulatory
	report				references
	31.12.2024
1	1	Provisioning of doubtful loans	9
1	2	Market risk - VaR and SVaR	11
1	3	Interest rate risk of non-trading book activities	13		IRBB1
1	4	Key metrics	15	3	KM1
1	5	TLAC - Key metrics	16	5	KM2
5	6	Difference between accounting scope and prudential reporting scope	49
5	7	Reconciliation of regulatory own funds to balance sheet in the audited financial statements	50		CC2
5	8	Entities outside the prudential scope	52
5	9	Total amount of debt instruments eligible for Tier 1 equity	54
5	10	Changes in debt instruments eligible for solvency capital requirements	54
5	11	Breakdown of prudential capital requirement for Societe Generale	55
5	12	Regulatory capital and solvency ratios	56	6
5	13	CET1 regulatory deductions and adjustments	57
5	14	Overview of risk-weighted assets	58	7	OV1
5		Comparison of modelled and standardised risk weighted exposure amounts at risk level		8	CMS1
5		Comparison of modelled and standardised risk weighted exposure amounts for credit risk at asset class level		9	CMS2
5	15	Risk-weighted assets (RWA) by core business and risk type	59	10
5	16	Main subsidiaries' contributions to the Group's RWA	59
5	17	Leverage ratio summary and transition from prudential balance sheet to leverage exposure	60	10
5	18	Financial conglomerates information on own funds and capital adequacy ratio	61	10	INS2
5	19	Comparison of own funds and capital and leverage ratios with and without the application of transitional arrangements for IFRS 9	62
5	20	Non-deducted equities in insurance undertakings	62		INS1
5	21	Composition of regulatory own funds	63		CC1
5	22	TLAC - Composition	67		TLAC1
5	23	TLAC - Creditor ranking of the resolution entity	68		TLAC3
5	24	Summary reconciliation of accounting assets and leverage ratio exposures	70		LR1-LRSUM
5	25	Leverage ratio - Common disclosure	71		LR2-LRCOM
5	26	Leverage ratio - Split-up of on-balance sheet exposures (excluding derivatives, SFTs and exempted exposures)	73		LR3-LRSPL
5	27	Geographical distribution of credit exposures relevant for the calculation of the countercyclical buffer	74		CCyB1
5	28	Amount of institution-specific countercyclical capital buffer	75		CCyB2
5	29	Differences between statutory and prudential	76		LI1

		consolidated balance sheets and allocation to regulatory risk categories
5	30	Main sources of differences between regulatory exposure amounts and carrying amounts in financial statements	80	LI2
5	31	Prudent valuation adjustments (PVA)	82	PV1
6	32	Credit rating agencies used in standardised approach	88
6	33	Scope of the IRB and SA approaches	89	CR6-A
6	34	Scopes of application of the IRB and standardised approaches for the Group	89
6	35	Societe Generale's historical internal rating scale and indicative corresponding rating scales of external agencies	90
6	36	Societe Generale's rating scales specific to SME portfolio and indicative corresponding rating scale of external agencies	91
6	37	Main features of models and methods - Wholesale clients	92
6	38	Main features of models and methods - Retail clients	94
6	39	Internal approach - backtesting of PD per exposure class (fixed PD scale) - AIRB	95	CR9
6	40	Internal approach - backtesting of PD per exposure class (fixed PD scale) - FIRB	99	CR9
6	41	Internal approach - backtesting of PD per exposure class (only for PD estimates according to point (F) of article 180(1) CRR) - AIRB	101	CR9.1
6	42	Internal approach - backtesting of PD per exposure class (only for PD estimates according to point (F) of article 180(1) CRR) - FIRB	104	CR9.1
6	43	Credit risk mitigation techniques - overview	108
6	44	Exposure classes	109
6	45	Change in risk-weighted assets (RWA) by approach (credit and counterparty credit risks)	111
6	46	Performing and non-performing exposures and related provisions	113	CR1
6	47	Changes in the stock of non-performing loans and advances	115	CR2
6	48	Credit quality of forborne exposures	115	CQ1
6	49	Credit quality of performing and non-performing exposures by past due days	117	CQ3
6	50	Credit quality of non-performing exposures by geography	119	CQ4
6	51	Credit quality of loans and advances to nonfinancial corporations by industry	123	CQ5
6	52	Collateral obtained by taking possession and execution processes	125	CQ7
6	53	Maturity of exposures	126	CR1-A
6	54	Credit risk mitigation techniques - Overview	126	CR3
6	55	Credit risk exposure, EAD and RWA by exposure class and approach	127
6	56	Standardised approach - Credit risk exposure and credit risk mitigation (CRM) effects	128	CR4
6	57	Standardised approach - Credit risk exposures by regulatory exposure class and risk weights	130	CR5
6	58	Internal approach - Credit risk exposures by exposure class and PD range - AIRB	132	CR6
6	59	Internal approach - Credit risk exposures by exposure class and PD range - FIRB	140	CR6
6	60	IRB approach - Effect on RWA of credit derivatives used as CRM techniques	144	CR7
6	61	Internal approach - Disclosure of the extent of the use of CRM techniques - AIRB	145	CR7-A

6	62	Internal approach - Disclosure of the extent of the use of CRM techniques - FIRB	149		CR7-A
6	63	RWA flow statement of credit risk exposures under the IRB approach	150	11	CR8
6	64	Specialised lending exposures - internal approach	151	CR10.1-10.4
6	65	Equity exposures under the simple risk-weighted approach	152		CR10.5
7	66	Counterparty credit risk exposure, EAD and RWA by exposure class and approach	161
7	67	Analysis of counterparty credit risk exposure by approach	162		CCR1
7	68	Exposures to central counterparties	163		CCR8
7	69	Composition of collateral for counterparty credit risk exposures	164		CCR5
7	70	Transactions subject to own funds requirements for CVA risk	164		CCR2
7	71	Internal approach - Counterparty credit risk exposures by exposure class and PD scale	165		CCR4
7	72	Standardised approach - Counterparty credit risk exposures by regulatory exposure class and risk weights	167		CCR3
7	73	Credit derivatives exposures	168		CCR6
7	74	RWA flow statement of counterparty credit risk exposures under the IMM	169	12	CCR7
8	75	Quality of securitisation positions retained or acquired	177
8	76	Securitisation exposures in the non-trading book	179		SEC1
8	77	Securitisation exposures in the trading book	180		SEC2
8	78	Exposures securitised by the institution -Exposures in default and specific credit risk adjustments	181		SEC5
8	79	Credit rating agencies used in securitisations by type of underlying assets	183
8	80	Securitisation exposures in the non-trading book and associated regulatory capital requirements -institution acting as originator or as sponsor	184		SEC3
8	81	Securitisation exposures in the non-trading book and associated regulatory capital requirements -institution acting as investor	186		SEC4
9	82	Regulatory ten-day 99% VaR and one-day 99% VaR	196	13
9	83	Regulatory ten-day 99% SVaR and one-day 99% SVaR	197
9	84	IRC (99.9%) and CRM (99.9%)	199
9	85	Market risk RWA and capital requirements by risk factor	203
9	86	Market risk capital requirements and RWA by type of risk	203
9	87	Market risk under the standardised approach	205		MR1
9	88	Market risk under the internal model approach	206		MR2-A
9	89	Internal model approach values for trading portfolios	206		MR3
9	90	RWA flow statement of market risk exposures under the internal model approach	211	14	MR2-B
10	91	Operational risk own fund requirements and risk-weighted assets	214		OR1
11	92	Interest rate risk of non-trading book activities	220		IRRBB1
11	93	Sensitivity of the Group's Common Equity Tier 1 ratio to a 10% change in the currency (in basis points)	221
12	94	Encumbered and unencumbered assets	228		AE1
12	95	Collateral received	229		AE2
12	96	Sources of encumbrance	230		AE2
12	97	Liquidity reserve	231	15

12	98	Liquidity Coverage Ratio	232	16	LIQ1
12	99	Net Stable Funding Ratio	234		LIQ2
12	100	Balance sheet schedule	236
14	101	Banking book - Indicators of potential climate Change transition risk: Credit quality of exposures by sector, emissions and residual maturity	274		Model 1
14	102	Banking book - Indicators of potential climate change transition risk: Loans collateralised by immovable property - Energy efficiency of the collateral	282		Model 2
14	103	Banking book - Indicators of potential climate change transition risk: Alignment metrics	284		Model 3
14	104	Banking book - Indicators of potential climate change transition risk: Exposures to top 20 carbon-intensive firms	285		Model 4
14	105	Banking book - Indicators of potential climate change physical risk: Exposures subject to physical risk	286		Model 5
14	106	Summary of key performance indicators (KPIS) on the taxonomy - aligned exposures	302		Model 6
14	107	Mitigating actions : assets for the calculation of GAR	304		Model 7
14	108	GAR (%)	308		Model 8
14	109	Other climate change mitigating actions that are not covered in Regulation (EU) 2020/852	312		Model 10