FINANCIALSTATEMENTS AT 31/12/2025

FINANCIAL STATEMENTS OF
BNP PARIBAS HOME LOAN SFH
Dated 31 DECEMBER 2025

INCOME STATEMENT FOR THE YEAR ENDED 31/12/2025

BALANCE SHEET AS AT 31/12/2025

OFF-BALANCE SHEET

CORPORATE ACCOUNTS

Income statement at 31 December 2025 2
Balance sheet at 31 December 2025 3

1 SUMMARY OF Accounting principles APPLIED BY BNP PARIBAS HOME LOAN SFH 5
2 Notes to the income statements at 31 December 2025 7
2.a Interest margin 7
2.b Commissions 7
2.c General operating expenses 8
2.d Income tax 8
3 Notes to the balance sheet at 31 December 2025 9
3.a Receivables due from credit institutions 9
3.b Other assets and liabilities 9
3.c Accruals 10
3.d Debts represented by a security 10
3.e Subordinated debts 10
5 Additional information 11
5.a Capital operations 11
5.b Reconciliation of shareholders’ equity 11
5.c Maturity of assets and liabilities 11
5.d Statutory Auditor’s fees 11
5.e Post-closing events 12
BNP Paribas Home Loan SFH 5-year financial summary 13
Statutory auditor's fee 14
CONTENTS

1. SUMMARY OF ACCOUNTING PRINCIPLES APPLIED BY BNP PARIBAS HOME LOAN SFH

The financial statements of BNP Paribas Home Loan SFH have been prepared in accordance with the general accounting principles applicable in France to banking institutions, as set out in the following regulations:

• ANC n°2014-07 of 26 November 2014 and its amending regulations since that date,
• ANC n°2014-03 of 5 June 2014 on the General Chart of Accounts and its amending regulations since that date, including ANC regulations n°2022-06 of 4 November 2022 and n°2023-03 of 7 July 2023 applicable to financial years beginning on or after 1 January 2025 (no impact on the financial year).

The income statement at 31 December 2025 and the related notes to the financial statements present comparative information at 31 December 2024.

The basic method chosen for assessing the elements listed in the financial statements is the historical cost method.

The following are main methods used:

RECEIVABLES DUE FROM CREDIT INSTITUTIONS AND CUSTOMERS

Receivables from credit institutions include all loans and advances, including subordinated loans and advances, held in connection with banking operations with credit institutions, with the exception of loans and advances evidenced by a security. They also include securities received under repurchase agreements, regardless of the type of operation, and receivables relating to securities delivered under repurchase agreements. They are broken down into sight and term loans.

Receivables from credit institutions and customers are recorded in the balance sheet at their nominal value plus accrued interest not yet due.

DEBTS REPRESENTED BY A SECURITY

Debts represented by a security are recorded at amortized cost.

The accrued interest not yet due on these securities is recorded in a related debt account and offset against the income statement.

Bond issue and redemption premiums are amortised on an actuarial basis over the life of the bonds, with costs relating to their issue spread over the same period on a straight-line basis.

RECORDING INCOME AND EXPENSES

Interest and similar commissions are recorded for their accrued amount, recorded pro rata temporis.

Commissions not treated as interest and corresponding to the provision of services are recorded on the date on which the service is provided or on a pro rata basis over the duration of the service provided when the service is continuous.

Foreign currency income and expenses are recorded at their equivalent value on the operation date.

INFORMATION ON RELATED PARTY TRANSACTIONS

Given the company’s business and its ownership structure (99.99%-owned subsidiary of BNP Paribas SA), the requirements of ANC n°2014-07 on the presentation of related party disclosures are not applicable.

TAX CONSOLIDATION

Since 01/01/2005, BNP Paribas Home Loan SFH has been integrated into the France tax group headed by BNP Paribas.

As regards corporation tax, in accordance with the terms of the tax consolidation agreement, tax is determined by the subsidiary, as in the absence of tax consolidation.

The amount thus calculated, after deduction of any tax credits, is due to the parent company, BNP PARIBAS SA.

CONSOLIDATION

The BNP Paribas Home Loan SFH accounts are integrated into the BNP Paribas consolidated accounts using to the full consolidation method.

GENERAL INFORMATION

In connection with the issuance of housing finance bonds, BNP Paribas has provided BNP Paribas Home Loan SFH with collateral in the amount of 41,575,002,339 euros at 31 December 2025.

A total of €37,571,590,909 has been used for existing issues.

The Company’s registered office is in France and, in accordance with the provisions of article L.513-29 of the French Monetary and Financial Code, it has no branches or subsidiaries abroad, including in non-cooperative countries.

2. NOTES TO THE INCOME STATEMENT AT 31/12/2025

2.a INTEREST MARGIN

Under “Interest and similar income” and “Interest and similar expenses”, BNP Paribas Home Loan SFH presents the remuneration determined for financial instruments measured at amortised cost.

2.b COMMISSIONS

2.c GENERAL OPERATING EXPENSES & MISCELLANEOUS OPERATING INCOME

(1) European Regulation n°806/2014 on the Single Resolution Fund.

(1) Reclassification of the contribution to the SRF to miscellaneous banking

2.d INCOME TAX

3. NOTES TO THE BALANCE SHEET AS AT 31/12/2024

3.a RECEIVABLES AND DEBTS DUE TO CREDIT INSTITUTIONS

3.b OTHER ASSETS AND LIABILITIES

At 31/12/2025, BNP Paribas Home Loan SFH had no supplier debt.

3.c ACCRUALS

Accruals on the asset side include redemption premiums still to be amortised on zero-coupon bonds, which are zero in December 2025.

3.d DEBTS REPRESENTED BY A SECURITY

3.e SUBORDINATED DEBTS

4. ADDITIONAL INFORMATION

4.a POST-CLOSING EVENTS

There are no post-closing events.

4.b CHANGES IN SHARE CAPITAL IN EUROS

Number of shares

4.c CHANGE IN SHAREHOLDERS' EQUITY

4.d NOTIONAL OF FINANCIAL INSTRUMENTS

The net valuation of swaps at 31/12/2025 is zero.

4.e MATURITY OF ASSETS AND LIABILITIES

Remaining term

4.f STATUTORY AUDITOR’S FEES

The total amount of the Statutory Auditor’s fees, relating to its statutory audit assignment, for the 2024 financial year is €64,000 excluding tax, in accordance with the approved and signed engagement letter.

TABLE OF EARNINGS FOR THE LAST FIVE FINANCIAL

BNP PARIBAS HOME LOAN SFH

1, boulevard Haussmann
75009 Paris
___________________________________
Statutory Auditors’ report

Statutory Auditors’ report on the financial statements

Year ended December 31, 2025 – Page 2
on the financial statements
Year ended December 31, 2025

ERNST & YOUNG et Autres
Tour First – TSA 14444
92037 Paris-La-Défense cedex
S.A.S. à capital variable
438 476 913 R.C.S. Nanterre
Société de Commissariat aux Comptes inscrite à la Compagnie Régionale de Versailles et du Centre

DELOITTE ET ASSOCIES
6, place de la Pyramide
92908 Paris-La Défense cedex
S.A.S. au capital de € 2 201 424
572 028 041 R.C.S. Nanterre
Société de Commissariat aux Comptes inscrite à la Compagnie Régionale de Versailles et du Centre

This is a translation into English of the statutory auditors’ report on the financial statements of the Company issued in French and it is provided solely for the convenience of English-speaking users. This statutory auditors’ report includes information required by European regulations and French law, such as information about the appointment of the statutory auditors or verification of the management report and other documents provided to the shareholders. This report should be read in conjunction with, and construed in accordance with, French law and professional auditing standards applicable in France.

BNP PARIBAS HOME LOAN SFH
1, boulevard Haussmann
75009 Paris
_______________________________
Statutory Auditors’ report on the financial statements
Year ended December 31, 2025
_______________________________

To the Annual General Meeting of BNP PARIBAS HOME LOAN SFH,

Opinion

In compliance with the engagement entrusted to us by your Annual General Meeting, we have audited the accompanying financial statements of BNP PARIBAS HOME LOAN SFH for the year ended December 31, 2025.

In our opinion, the financial statements give a true and fair view of the assets and liabilities and of the financial position of the Company at December 31, 2025 and of the results of its operations for the year then ended in accordance with French accounting principles.

The audit opinion expressed above is consistent with our report to the Board of Directors acting as Audit Committee.

Basis for opinion

Audit framework
We conducted our audit in accordance with professional standards applicable in France. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Our responsibilities under these standards are further described in the “Statutory Auditors’ Responsibilities for to the audit of the financial statements” section of our report.

Independence
We conducted our audit engagement in compliance with the independence requirements provided for in the French Commercial Code (Code de commerce) and the French Code of Ethics for Statutory Auditors (Code de déontologie de la profession de commissaire aux comptes) for the period from January 1, 2025 to the date of our report, and, in particular, we did not provide any non-audit services prohibited by Article 5 (paragraph 1) of Regulation (EU) No. 537/2014.

Emphasis of Matter
We draw your attention to the matter described in Note 1 “Summary of significant accounting principles applied by BNP Paribas Home Loan SFH” to the financial statements, which sets out the changes in accounting policy resulting from the application of new ANC regulations. Our opinion is not modified in respect of this matter.

Justification of assessments – Key audit matters
In accordance with the requirements of Articles L.823-9 and R.823-7 of the French Commercial Code relating to the justification of our assessments, we inform you of the key audit matters relating to the risks of material misstatement that, in our professional judgement, were the most significant in our audit of the financial statements, as well as how we addressed those risks.

We have established that there were no key audit matters to address in our report.

Specific verifications
In accordance with professional standards applicable in France, we have also performed the specific verifications required by French laws and regulations.

Information given in the management report and in the other documents provided to the shareholders with respect to the financial position and the financial statements
We have no matters to report as to the fair presentation and the consistency with the financial statements of the information given in the Board of Directors’ management report and in the other documents provided to the shareholders with respect to the financial position and the financial statements, except for the matter described below.

Concerning the fair presentation and the consistency with the financial statements of the information relating to payment deadlines referred to in Article D. 441-6 of the French Commercial Code, we have the following matter to report:

As indicated in the management report, this information does not include banking and related transactions, as the Company considers that such transactions do not fall within the scope of the information to be provided.

Report on corporate governance
We attest that the Board of Directors’ Report on corporate Governance sets out the information required by Articles L. 225-37-4 and L. 22-10-10 of the French Commercial Code.

Report on other legal and regulatory requirements

Format of preparation of the financial statements included in the annual financial report
We have also verified, in accordance with the professional standard applicable in France relating to the procedures performed by statutory auditor regarding the annual and consolidated financial statements prepared in the European single electronic format, that the preparation of the financial statements included in the annual financial report mentioned in Article L. 451-1-2, I of the French Monetary and Financial Code (Code monétaire et financier), prepared under the chief executive officer’s responsibility, complies with the single electronic format defined in Commission Delegated Regulation (EU) No. 2019/815 of 17 December 2018.

On the basis of our work, we conclude that the preparation of the financial statements included in the annual financial report complies, in all material respects, with the European single electronic format.

Appointment of the Statutory Auditors
We were appointed Statutory Auditors of BNP PARIBAS HOME LOAN SFH by the Annual General Meeting held on June 4, 2012 for Deloitte & Associés, and on April 26, 2024 for ERNST & YOUNG et Autres.

As at 31 December 2025, Deloitte & Associés and ERNST & YOUNG et Autres were in the fourteenth year and the second year of total uninterrupted engagement, respectively.

Responsibilities of management and those charged with governance for the financial statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with French accounting principles, and for implementing the internal control procedures it deems necessary for the preparation of financial statements that are free of material misstatement, whether due to fraud or error.

In preparing the financial statements, management is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern, and using the going concern basis of accounting, unless it expects to liquidate the Company or to cease operations.

The Board of Directors acting as Audit Committee is responsible for monitoring the financial reporting process and the effectiveness of internal control and risk management systems and where applicable, its internal audit, regarding the accounting and financial reporting procedures.

The financial statements were approved by the Board of Directors.

Statutory Auditors’ responsibilities relating to the audit of the financial statements

Objective and audit approach
Our role is to issue a report on the financial statements. Our objective is to obtain reasonable assurance about whether the financial statements as a whole are free of material misstatement. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with professional standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users made on the basis of these financial statements.

As specified in Article L. 821-55 of the French Commercial Code, our statutory audit does not include assurance on the viability of the Company or the quality of management of the affairs of the Company.

As part of an audit conducted in accordance with professional standards applicable in France, the Statutory Auditors exercise professional judgement throughout the audit. They also:

• identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures in response to those risks and obtain audit evidence considered to be sufficient and appropriate to provide a basis for their opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control;
• obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control;
• evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management and the related disclosures in the financial statements;
• assess the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. This assessment is based on the audit evidence obtained up to the date of their audit report. However, future events or conditions may cause the Company to cease to continue as a going concern. If the Statutory Auditors conclude that a material uncertainty exists, they are required to draw attention in the audit report to the related disclosures in the financial statements or, if such disclosures are not provided or are inadequate, to issue a qualified opinion or a disclaimer of opinion;
• evaluate the overall presentation of the financial statements and assess whether these statements represent the underlying transactions and events in a manner that achieves fair presentation.

Report to the Board of Directors acting as audit committee
We submit a report to the Board of Directors acting as audit committee which includes, in particular, a description of the scope of the audit and the audit program implemented, as well as the results of our audit. We also report any significant deficiencies in internal control, if any, that we have identified regarding the accounting and financial reporting procedures.

Our report to the Board of Directors acting as audit committee includes the risks of material misstatement that, in our professional judgement, were of most significance in the audit of the financial statements of the current period and which constitute the key audit matters that we are required to describe in this report.

We also provide the Board of Directors acting as audit committee, , with the declaration required by Article 6 of Regulation (EU) No. 537/2014, confirming our independence within the meaning of the rules applicable in France, as defined in particular in Articles L.821-27 à L.821-34 of the French Commercial Code and in the French Code of Ethics for Statutory Auditors. Where appropriate, we discuss with the Board of Directors acting as audit committee the risks that may reasonably be thought to bear on our independence, and the related safeguards.

Paris-La Défense, March 30, 2026
The Statutory Auditors
French original signed by
ERNST & YOUNG et Autres Deloitte & Associés
Hassan BAAJ Jean-Vincent COUSTEL