Obbligazione Agrícola Credit (London Branch) 1.875% ( XS1538284230 ) in EUR

Agrícola Credit (London Branch)

100 EUR ⇌

Regno Unito

XS1538284230 ( in EUR )

1.875% per anno ( pagato 1 volta l'anno)

20/12/2026

Prospetto opuscolo dell'obbligazione Credit Agricole (London Branch) XS1538284230 en EUR 1.875%, scadenza 20/12/2026

100 000 EUR

1 500 000 000 EUR

20/12/2026 ( In 313 giorni )

Credit Agricole (London Branch) è la filiale londinese del gruppo bancario francese Crédit Agricole, operante nel mercato finanziario internazionale.

The Obbligazione issued by Agrícola Credit (London Branch) ( United Kingdom ) , in EUR, with the ISIN code XS1538284230, pays a coupon of 1.875% per year.
The coupons are paid 1 time per year and the Obbligazione maturity is 20/12/2026

Issue of 1,500,000,000 1.875 per cent. Senior Non-Preferred Notes due December 2026
under the Euro 75,000,000,000 Euro Medium Term Note Programme

Series No: 505
Tranche No: 1
Issue Price: 99.504 per cent.

The 1,500,000,000 1.875 per cent. senior non-preferred notes maturing on December 2026 (the "Notes" or the
"Senior Non-Preferred Notes") will be issued by Crédit Agricole S.A., acting through its London branch (the
"Issuer") on 20 December 2016 (the "Issue Date") under its Euro 75,000,000,000 Euro Medium Term Note
Programme (the "EMTN Programme").

The Notes and, where applicable, the Coupons relating to them, will constitute direct, unconditional, unsecured
and senior non-preferred obligations of the Issuer in accordance with article L.613-30-3 I 4° of the French Code
monétaire et financier, as further described in Condition 4 (Status of the Notes). The Notes will rank junior to
certain Senior Preferred Obligations (as defined in Condition 2 (Interpretation)) of the Issuer, as described herein.

The Notes will bear interest at a rate of 1.875 per cent. per annum from (and including) the Issue Date, payable
annually in arrear on or about 20 December of each year, beginning on 20 December 2017, to (but excluding)
20 December 2026 (the "Maturity Date"), as further described in Condition 5 (Interest).

Unless previously redeemed or purchased and cancel ed, the Notes will be redeemed at par on the Maturity Date.
The Issuer may, at its option (subject to approval by the Relevant Regulator and/or the Relevant Resolution
Authority, if required), redeem all, but not some only, of the Notes at their outstanding principal amount plus
accrued interest (if any) thereon upon the occurrence of a Tax Event or a MREL/TLAC Disqualification Event
(each as defined in Condition 2 (Interpretation)). In the event that a MREL/TLAC Disqualification Event, Tax Event
or Alignment Event (as defined in Condition 2 (Interpretation)) occurs and is continuing, the Issuer may (subject to
approval by the Relevant Regulator and/or the Relevant Resolution Authority, if required) also substitute al (but
not some only) of the Notes or modify the terms of all (but not some only) of the Notes, without any requirement
for the consent or approval of the Noteholders, so that they become or remain Qualifying Notes (as defined in
Condition 2 (Interpretation)).

The Notes will be governed by English law, save for Condition 4 (Status of the Notes) which shal be governed by
French law.

The Notes will be issued in denominations of 100,000 each. The Notes will be issued in bearer form and wil
initially be represented by Global Notes, without interest coupons, which will be deposited on or around the Issue
Date with a common safekeeper for Euroclear Bank S.A./N.V. ("Euroclear") and Clearstream Banking S.A.,
Luxembourg ("Clearstream, Luxembourg"). Definitive Bearer Notes will only be issued in limited circumstances.

This drawdown prospectus (the "Drawdown Prospectus") constitutes a prospectus for the purposes of Article 5.3
of Directive 2003/71/EC of the European Parliament and of the Council dated 4 November 2003, as amended,
which includes the amendments made by Directive 2010/73/EU of the European Parliament and of the Council
dated 24 November 2010 (the "Prospectus Directive").

Application has been made to list and admit to trading the Notes, as of their Issue Date on the regulated market of
Euronext in Paris ("Euronext Paris"). Euronext Paris is a regulated market within the meaning of the Directive
2004/39/EC of the European Parliament and of the Council dated 21 April 2004, as amended.

The Notes are expected to be rated BBB+ by Standard & Poor's Credit Market Services France SAS ("S&P"),
A by Fitch France S.A.S. ("Fitch") and Baa2 by Moody's Investors Service Ltd ("Moody's"). Each of S&P, Fitch
and Moody's is established in the European Union ("EU") and is registered under Regulation (EC) No. 1060/2009
(as amended) (the "CRA Regulation") and is included in the list of credit rating agencies registered in accordance
with the CRA Regulation as of the date of this Drawdown Prospectus. This list is available on the ESMA website
at www.esma.europa.eu/page/List-registered-and-certified-CRAs (list last updated on 1st December 2015). A
rating is not a recommendation to buy, sell or hold securities and may be subject to revision, suspension or
withdrawal at any time by the assigning rating agency.

Investing in the Notes involves certain risks. See the section "Risk Factors" in this Drawdown Prospectus
for a description of certain risk factors which should be considered by potential investors in connection
with any investment in the Notes.

Copies of this Drawdown Prospectus are available on the websites of the AMF (www.amf-france.org) and of the
Issuer (www.credit-agricole.com) and may be obtained, without charge on request, at the principal office of the
Issuer during normal business hours. Copies of all documents incorporated by reference in this Drawdown
Prospectus are available (i) on the website of the AMF (www.amf-france.org) and/or (ii) on the website of the
Issuer (www.credit-agricole.com) and may be obtained, without charge on request, at the principal office of the
Issuer during normal business hours.

In accordance with Articles L.412-1 and L.621-8 of the French Code monétaire et financier and its General
Regulations (règlement général), in particular Articles 211-1 to 216-1, the AMF has granted to this Drawdown
Prospectus the visa no. 16-587 on 14 December 2016. This Drawdown Prospectus has been prepared by the
Issuer and its signatories assume responsibility for it. In accordance with Article L.621-8-1-I of the French Code
monétaire et financier, the visa has been granted following an examination by the AMF of "whether the document
is complete and comprehensible, and whether the information in it is coherent". It does not imply that the AMF
has verified the accounting and financial data set out in it and the appropriateness of the issue of the Notes.

Global coordinator, Sole Structuring Advisor and Sole Bookrunner

Crédit Agricole CIB

Joint Lead Managers

Commerzbank
Goldman Sachs International
HSBC
J.P. Morgan
Natixis

The date of this Drawdown Prospectus is 14 December 2016.
1

This Drawdown Prospectus has been prepared for the purpose of giving information with respect to the
Issuer and the Crédit Agricole Group as well as the Notes which is necessary to enable investors to make an
informed assessment of the assets and liabilities, financial position, profit and losses and prospects of the
Issuer.

This Drawdown Prospectus should be read and construed together with all documents incorporated by
reference herein (see the section entitled "Incorporation by Reference" below), and that form part of this
Drawdown Prospectus. Capitalised terms used but not otherwise defined in this Drawdown Prospectus shall
have the meaning given to them in the Base Prospectus as supplemented incorporated therein.

None of Crédit Agricole Corporate and Investment Bank (the "Lead Manager") or Commerzbank
Aktiengesel schaft, Goldman Sachs International, HSBC Bank plc, J.P. Morgan Securities plc and Natixis
(the "Joint Lead Managers" and, together with the Lead Manager, the "Managers") has independently
verified the information contained in this Drawdown Prospectus. Accordingly, the Managers do not make any
representation, express or implied, or accept any responsibility, with respect to the accuracy or
completeness of any of the information contained or incorporated by reference in this Drawdown Prospectus.
Neither this Drawdown Prospectus nor any other information supplied in connection with the offering of the
Notes is intended to provide the basis of any credit or other evaluation and should not be considered as a
recommendation by, or on behalf of, the Issuer or the Managers that any recipient of this Drawdown
Prospectus or any other financial statements should purchase the Notes.

No person is authorised to give any information or to make any representation related to the issue, offering
or sale of the Notes not contained in this Drawdown Prospectus. Any information or representation not so
contained herein must not be relied upon as having been authorised by, or on behalf of, the Issuer or the
Managers. The delivery of this Drawdown Prospectus or any offering or sale of Notes at any time does not
imply (i) that there has been no change with respect to the Issuer or the Crédit Agricole Group, since the
date hereof and (i ) that the information contained or incorporated by reference in it is correct as at any time
subsequent to its date. None of the Managers undertakes to review the financial or general condition of the
Issuer during the life of the arrangements contemplated by this Drawdown Prospectus nor to advise any
investor or prospective investor in the Notes of any information coming to its attention.

The Drawdown Prospectus and any other information relating to the Issuer or the Notes should not be
considered as an offer, an invitation, a recommendation by any of the Issuer or the Managers to subscribe or
purchase the Notes. Each prospective investor of Notes should determine for itself the relevance of the
information contained in this Drawdown Prospectus and its purchase of Notes should be based upon such
investigation as it deems necessary. Investors should review, inter alia, the documents incorporated by
reference into this Drawdown Prospectus (see section entitled "Incorporation by Reference" below) when
deciding whether or not to subscribe for or to purchase the Notes. Investors should in particular conduct their
own analysis and evaluation of risks relating to the Issuer, the Crédit Agricole Group, their business, their
financial condition and the issued Notes and consult their own financial or legal advisers about risks
associated with an investment in the Notes and the suitability of investing in the Notes in light of their
particular circumstances. Potential investors should read carefully the section entitled "Risk Factors" set out
in this Drawdown Prospectus before making a decision to invest in the Notes.

The distribution of this Drawdown Prospectus and the offering or the sale of the Notes in certain jurisdictions
may be restricted by law or regulation. Neither the Issuer, nor the Managers represent that this Drawdown
Prospectus may be lawfully distributed, or that any Notes may be lawful y offered or sold, in compliance with
any applicable registration or other requirements in any such jurisdiction, or pursuant to an exemption
available thereunder, or assume any responsibility for facilitating any such distribution, offering or sale. In
particular, no action has been taken by the Issuer or the Managers which is intended to permit a public
offering of any Notes or distribution of this Drawdown Prospectus in any jurisdiction where action for that
purpose is required. Accordingly, no Note may be offered or sold, directly or indirectly, and neither this
Drawdown Prospectus nor any offering material may be distributed or published in any jurisdiction, except
under circumstances that will result in compliance with any applicable laws and regulations. Persons into
whose possession this Drawdown Prospectus comes are required by the Issuer and the Managers to inform
themselves about and to observe any such restrictions. For a further description of certain restrictions on
offers and sales of Notes and distribution of this Drawdown Prospectus and of any other offering material
relating to the Notes, see the section entitled "Subscription and Sale" in this Drawdown Prospectus and the
section entitled "Subscription and Sale" in the Base Prospectus as supplemented incorporated therein.

2

The Notes have not been and wil not be registered under the U.S. Securities Act of 1933 as amended
(the "Securities Act"), or with any securities regulatory authority of any state or other jurisdiction in the
United States. The Notes may not be offered, sold, delivered or otherwise transferred within the United
States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities
Act ("Regulation S")), except pursuant to an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and any applicable state or local securities laws. The Notes
are being offered and sold only in "offshore transactions" (as defined in Regulation S) outside of the United
States in accordance with Regulation S under the Securities Act.

This Drawdown Prospectus has not been approved for the purposes of Section 21 of the Financial Services
and Markets Act 2000 ("FSMA") by a person authorised under FSMA and is only being distributed to and is
only directed at (i) persons who are outside of the United-Kingdom or (i ) investment professionals fal ing
within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the
"Order") or (i i) high net worth entities, and other persons to whom it may be lawful y be communicated,
falling with Article 49(2)(a) to (e) of the Order (all such persons together being referred to as "relevant
persons"). The Notes are only available to, and any invitation, offer or agreement to subscribe, purchase or
otherwise acquire such Notes wil be engaged in only with, relevant persons. Any person who is not a
relevant person should not act or rely on this document or any of its content.

In this Drawdown Prospectus, references to "euro", "EUR" and "" refer to the lawful currency of the
European Union introduced at the start of the third stage of European economic and monetary union
pursuant to the Treaty on the Functioning of the European Union, as amended.
3

TABLE OF CONTENTS

PERSON RESPONSIBLE FOR THE INFORMATION CONTAINED IN THE DRAWDOWN
PROSPECTUS ............................................................................................................................... 5
INCORPORATION BY REFERENCE ............................................................................................. 6
CROSS-REFERENCE TABLE ........................................................................................................ 9
RISK FACTORS ........................................................................................................................... 15
GOVERNMENT SUPERVISION AND REGULATION OF CREDIT INSTITUTIONS IN FRANCE . 23
TERMS AND CONDITIONS OF THE NOTES .............................................................................. 32
FORM OF THE NOTES ................................................................................................................ 46
CLEARING AND SETTLEMENT IN RESPECT OF ENGLISH LAW NOTES ................................ 50
TRANSFER RESTRICTIONS FOR THE NOTES ......................................................................... 51
RECENT DEVELOPMENTS ......................................................................................................... 52
SUBSCRIPTION AND SALE ........................................................................................................ 57
SENIOR, SUBORDINATED AND SENIOR NON-PREFERRED DEBT SECURITIES IN ISSUE ... 58
GENERAL INFORMATION ........................................................................................................... 59

4

PERSON RESPONSIBLE FOR THE INFORMATION CONTAINED IN THE DRAWDOWN PROSPECTUS

Olivier Bélorgey, Directeur de la Gestion Financière of Crédit Agricole S.A.

Declaration by the person responsible for the Drawdown Prospectus

To the best of my knowledge (having taken all reasonable care to ensure that such is the case), I hereby
certify that the information contained in this Drawdown Prospectus is in accordance with the facts and
contains no omission likely to affect its import.

Crédit Agricole S.A.

12 place des Etats-Unis
92127 Montrouge Cedex
France

Duly represented by:

Olivier Bélorgey,
Directeur de la Gestion Financière,
on 14 December 2016

5

INCORPORATION BY REFERENCE

This Drawdown Prospectus should be read and construed in conjunction with the following documents,
which have been previously published and have been filed with the AMF and shall be incorporated in, and
form part of, this Drawdown Prospectus (the "Documents Incorporated by Reference"):

1
the base prospectus dated 23 March 2016 relating to the Euro 75,000,000,000 Euro Medium Term
Note Programme which has received from the AMF visa no. 16-094 on 23 March 2016 (the "Base
Prospectus"). To the extent that the Base Prospectus itself incorporates documents by reference,
such documents shal not be deemed incorporated by reference herein;

2
the first supplement to the Base Prospectus dated 6 April 2016 which has received from the AMF
visa no. 16-121 on 6 April 2016 (the "First Supplement"). To the extent that the First Supplement
itself incorporates documents by reference, such documents shal not be deemed incorporated by
reference herein;

3
the second supplement to the Base Prospectus dated 20 May 2016 which has received from the
AMF visa no. 16-190 on 20 May 2016 (the "Second Supplement"). To the extent that the Second
Supplement itself incorporates documents by reference, such documents shal not be deemed
incorporated by reference herein;

4
the third supplement to the Base Prospectus dated 19 August 2016 which has received from the
AMF visa no. 16-398 on 19 August 2016 (the "Third Supplement"). To the extent that the Third
Supplement itself incorporates documents by reference, such documents shal not be deemed
incorporated by reference herein;

5
the fourth supplement to the Base Prospectus dated 16 November 2016 which has received from the
AMF visa no. 16-533 on 16 November 2016 (the "Fourth Supplement", and together with the Base
Prospectus, the First Supplement, the Second Supplement and the Third Supplement, the "Base
Prospectus as supplemented"). To the extent that the Fourth Supplement itself incorporates
documents by reference, such documents shall not be deemed incorporated by reference herein;

6
the French and English versions of the audited consolidated financial statements of the Crédit
Agricole S.A. Group for fiscal year 2014 and related notes and audit report (the "Consolidated
Financial Statements 2014 for the Crédit Agricole S.A. Group"), which are extracted from the
Issuer's 2014 Registration Document filed with the AMF on 20 March 2015 under no. D.15-0180 (the
"2014 RD")1;

7
the French and English versions of the audited non-consolidated financial statements of Crédit
Agricole S.A. for fiscal year 2014 and related notes and audit report (the "Non-consolidated
Financial Statements 2014 for Crédit Agricole S.A."), which are extracted from the 2014 RD2;

8
the French and English versions of the audited consolidated financial statements of the Crédit
Agricole Group for fiscal year 2014 and related notes and audit report (the "Consolidated Financial
Statements 2014 for the Crédit Agricole Group"), which are extracted from the update A.01 to the
2014 RD filed with the AMF on 30 March 2015 under no. D.15-0180-A.01 (the "Update A.01 to the
2014 RD")3;

1 Consolidated Financial Statements 2014 for the Crédit Agricole S.A. Group can be found on pages 291 to 434 of the Issuer's 2014
Registration Document and the related audit report can be found on page 435 to 436 of the Issuer's 2014 Registration Document,
which may be obtained from the website of the Issuer (http://www.credit-agricole.com/en/Investor-and-shareholder). The page
numbering of the French and English versions of the Issuer's 2014 Registration Document are identical.
2 Non-consolidated Financial Statements 2014 for Crédit Agricole S.A. can be found on pages 437 to 484 of the Issuer's 2014
Registration Document and the related audit report can be found on page 485 of the Issuer's 2014 Registration Document, which
may be obtained from the website of the Issuer (http://www.credit-agricole.com/en/Investor-and-shareholder). The page numbering
of the French and English versions of the Issuer's 2014 Registration Document are identical.
3 Consolidated Financial Statements 2014 for the Crédit Agricole Group can be found on pages 145 to 281 of the update A.01 to the
Issuer's 2014 Registration Document and the related audit report can be found on pages 282 to 283 of the update A.01 to the
Issuer's 2014 Registration Document, which may be obtained from the website of the Issuer (http://www.credit-
agricole.com/en/Investor-and-shareholder). The page numbering of the French and English versions of the Issuer's 2014
Registration Document are identical.

6

9
the French version of the investor presentation, including the appendices (annexes), published by
the Issuer on 17 February 2016 relating to the Issuer's and the Crédit Agricole Group's financial
results for the 4th quarter of 2015 and the 2015 financial year (the "2015 Results Presentation")4;

10 the French version of the press release published by the Issuer on 9 March 2016 relating to the 2019
Medium Term Plan (the "2019 Medium Term Plan Press Release")5;

11 the French and English versions of Crédit Agricole S.A.'s 2015 Registration Document, which
includes primarily the financial statements at 31 December 2015 of Crédit Agricole S.A. and the
Crédit Agricole S.A. Group and was filed with the AMF on 16 March 2016 under no. D.16-0148 (the
"RD")6;

12 the French and English versions of the Update A.01 to the RD of the Issuer which was filed with the
AMF on 1 April 2016 under no. D.16-0148-A.01 (the "A.01")7;

13 the French and English versions of the Update A.02 to the RD of the Issuer which was filed with the
AMF on 12 May 2016 under no. D.16-0148-A.02 (the "A.02")8;

14 the French and English versions of the Update A.03 to the RD of the Issuer which was filed with the
AMF on 12 August 2016 under no. D.16-0148-A.03 (the "A.03")9;

15 the French version of the limited review interim condensed consolidated financial statements of the
Crédit Agricole Group as of and for the six months ended 30 June 2016 and related notes and
limited review report (the "2016 Half-Year Financial Report for the Crédit Agricole Group")10; and

16 the French and English versions of the Update A.04 to the RD of the Issuer which was filed with the
AMF on 10 November 2016 under no. D.16-0148-A.04 (the "A.04")11;

except that:

(A)
the inside cover page of the RD shal not be deemed incorporated herein;

(B)
the section relating to the filing of the RD with the AMF on page 1 of the RD shall not be
deemed incorporated herein;

(C)
the introduction on page 96 of the RD and the signature on page 128 of the RD of the
report prepared by the Chairman of the Board of Directors of Crédit Agricole S.A. on
internal control procedures relating to the preparation and processing of financial and
accounting information appearing on pages 96 to 128 of the RD shall not be deemed
incorporated herein;

(D)
the report of the statutory auditors on the report prepared by the Chairman of the Board of
Directors of Crédit Agricole S.A. on internal control procedures relating to the preparation

4 Free English translation of the 2015 Results Presentation may be obtained from the website of the Issuer (http://www.credit-
agricole.com/en/Investor-and-shareholder). For ease of reference, the page numbering of the free English translation of the 2015
Results Presentation is identical to the French version.
5 Free English translation of the 2019 Medium Term Plan Press Release may be obtained from the website of the Issuer
(http://www.credit-agricole.com/en/Investor-and-shareholder). For ease of reference, the page numbering of the free English
translation of the 2019 Medium Term Plan Press Release is identical to the French version.
6 RD may be obtained from the website of the Issuer (http://www.credit-agricole.com/en/Investor-and-shareholder). For ease of
reference, the page numbering of the French and English versions of the RD are identical.
7 A.01 may be obtained from the website of the Issuer (http://www.credit-agricole.com/en/Investor-and-shareholder). For ease of
reference, the page numbering of the French and English versions of the A.01 are identical.
8 A.02 may be obtained from the website of the Issuer (http://www.credit-agricole.com/en/Investor-and-shareholder). For ease of
reference, the page numbering of the French and English versions of the A.02 are identical.
9 A.03 may be obtained from the website of the Issuer (http://www.credit-agricole.com/en/Investor-and-shareholder). For ease of
reference, the page numbering of the French and English versions of the A.03 are identical.
10 Free English translation of the 2016 Half-Year Financial Report for the Crédit Agricole Group may be obtained from the website of
the Issuer (http://www.credit-agricole.com/en/Investor-and-shareholder). For ease of reference, the page numbering of the English
translation of the 2016 Half-Year Financial Report for the Crédit Agricole Group is identical to the French version.
11 A.04 may be obtained from the website of the Issuer (http://www.credit-agricole.com/en/Investor-and-shareholder). For ease of
reference, the page numbering of the French and English versions of the A.04 are identical.

7

and processing of financial and accounting information on page 129 of the RD shall not
be deemed incorporated herein;

(E)
the section under the heading "Contrôle Interne" on page 211 of the RD shall not be
deemed incorporated herein;

(F)
the section under the heading "Documents Accessibles au Public" on page 524 of the RD
shal not be deemed incorporated herein;

(G)
the statement by Mr Philippe Brassac, Directeur Général of the Issuer, on page 536 of the
RD referring to the "lettre de fin de travaux" of the statutory auditors shal not be deemed
incorporated herein;

(H)
the cross-reference table on pages 538 to 540 of the RD and notes under the table on
page 539 of the RD shall not be deemed incorporated herein;

(I)
the statutory auditors' special report on related party agreements and commitments on
pages 525 to 534 of the RD shall not be deemed incorporated herein;

(J)
the inside cover page of the A.01 shall not be deemed incorporated herein;

(K)
the statement by Mr Philippe Brassac, Directeur Général of the Issuer on page 266 of the
A.01 referring to the "lettre de fin de travaux" of the statutory auditors shall not be deemed
incorporated herein;

(L)
the inside cover page of the A.02 shall not be deemed incorporated herein; and

(M)
the statement by Mr Philippe Brassac, Directeur Général of the Issuer on page 87 of the
A.02 referring to the "lettre de fin de travaux" of the statutory auditors shall not be deemed
incorporated herein;

(N)
the inside cover page of the A.03 shall not be deemed incorporated herein;

(O)
the statement by Mr Philippe Brassac, Directeur Général of the Issuer on page 261 of the
A.03 referring to the "lettre de fin de travaux" of the statutory auditors shall not be deemed
incorporated herein;

(P)
the inside cover page of the A.04 shall not be deemed incorporated herein; and

(Q)
the statement by Mr Philippe Brassac, Directeur Général of the Issuer on page 76 of the
A.04 referring to the "lettre de fin de travaux" of the statutory auditors shall not be deemed
incorporated herein.
Any statement contained in the Documents Incorporated by Reference listed above shal be modified
or superseded for the purpose of this Drawdown Prospectus to the extent that a statement contained
herein modifies or supersedes such earlier statement (whether expressly, by implication or
otherwise); any statement so modified or superseded shall not, except as so modified or
superseded, constitute a part of this Drawdown Prospectus.

The Documents Incorporated by Reference are available for inspection at the specified offices of
each of the Paying Agents, in each case at the address given at the end of this Drawdown
Prospectus, and are available on the website of the AMF (www.amf-france.org) and/or on the
website of the Issuer (www.credit-agricole.com).

8

CROSS-REFERENCE TABLE

The following table cross-references the pages of the Documents Incorporated by Reference with the main
heading required under Annex XI of the Commission Regulation (EC) No. 809/2004 implementing the
Prospectus Directive.

Any information not listed in the cross-reference list below but included in the Documents Incorporated by
Reference is provided for information purposes only.

Page no. in the relevant Documents
ANNEX XI
Incorporated by Reference
1
Persons responsible

1.1
Persons responsible for the information
536 of RD
266 of A.01
87 of A.02
261 of A.03
76 of A.04

1.2
Statements by the persons responsible*
536 of RD*
266 of A.01*
87 of A.02*
261 of A.03*
76 of A.04*

2
Statutory auditors

2.1
Names and addresses of the Issuer's
537 of RD
auditors (together with their membership
267 of A.01
of a professional body)
88 of A.02
262 of A.03
77 of A.04

2.2
Change of situation of the auditors
537 of RD
267 of A.01
88 of A.02
262 of A.03
77 of A.04

3
Risk Factors
107-110; 121-128; 218-304; 343-355; 376-382; 396-
398 ; 487-488 of RD
43-126; 159-170; 192-198; 212-214 of A.01
86 of A.02
87-122; 168-173; 178-181 of A.03
41-56; 61-64 of 2016 Half-Year Financial Report for
the Crédit Agricole Group
76 of A.04

* The statement by Mr. Philippe Brassac regarding the "lettre de fin de travaux" is not incorporated by reference in the Drawdown
Prospectus.

9