BNP Paribas Plan SICAVdocuments.fww.info/fwwdok_4hwFaIOICN.pdf · BNP Paribas Plan Information Page...

BNP Paribas Plan

SICAV

ANNUAL REPORT at 31102019

RCS Luxembourg B 77 227

The asset manager for a changing worldThe asset manager for a changing world

BNP Paribas Plan

Table of contents

Page

Organisation 2

Information 3

Managers report 5

Independent auditors report 10

Financial statements at 31102019 14

Key figures relating to the last 3 years 17

Securities portfolio at 31102019

Easy Future 2021 19

Easy Future 2023 20

Easy Future 2026 21

Easy Future 2028 22

Easy Future 2033 23

Easy Future 2038 24

Easy Future 2043 25

International Derivatives 26

Pension Return 27

Notes to the financial statements 28

Unaudited appendix 38

No subscription can be received on the basis of the financial statements alone Subscriptions are only valid if made on the basis of the

current prospectus accompanied by the latest annual report and the most recent semi-annual report if published thereafter

BNP Paribas Plan

Organisation

Page 2

Registered office

10 Rue Edward Steichen L-2540 Luxembourg Grand Duchy of Luxembourg

Board of Directors

Chairwoman

Ms Giorgia DrsquoANNA Head of Group Networks Italy and International BNP PARIBAS ASSET MANAGEMENT

France Paris

Members

Ms Carole BORTOLI-MOULON Head of Funds and Mandates Operation BNP PARIBAS ASSET MANAGEMENT

France Paris (since 12 August 2019)

Mr Roger MINERS Global Marketing Officer BNP PARIBAS ASSET MANAGEMENT UK London

Mr Pierre PICARD Deputy Head of Group Networks BNP PARIBAS ASSET MANAGEMENT France Paris

(until 21 February 2019)

Mr Bruno PIFFETEAU Head of Global Client Services BNP PARIBAS ASSET MANAGEMENT France Paris

Company Secretary

Ms Claire COLLET-LAMBERT Head of Legal BNP PARIBAS ASSET MANAGEMENT Luxembourg

Luxembourg

Management Company

BNP PARIBAS ASSET MANAGEMENT Luxembourg 10 Rue Edward Steichen L-2540 Luxembourg Grand Duchy

of Luxembourg

BNP PARIBAS ASSET MANAGEMENT Luxembourg is a Management Company as defined by Chapter 15 of the

Luxembourg Law of 17 December 2010 concerning Undertakings for Collective Investment as amended

In this capacity the Management Company exercises the functions of administration portfolio management and

marketing

The functions for calculating net asset values of transfer agent and registrar are delegated to

BNP Paribas Securities Services Luxembourg Branch 60 Avenue JF Kennedy L-1855 Luxembourg Grand Duchy of

Luxembourg

Effective Investment Managers

bull BNP PARIBAS ASSET MANAGEMENT Belgium 55 Rue du Progregraves B-1210 Brussels Belgium

bull BNP PARIBAS ASSET MANAGEMENT France 1 Boulevard Haussmann F-75009 Paris France

bull BNP PARIBAS ASSET MANAGEMENT UK Ltd 5 Aldermanbury Square London EC2V 7BP United

Kingdom

Those entities are Investment managers from the BNP Paribas Group

Depositary


Luxembourg

Independent Auditor

Ernst amp Young SA 35 E Avenue John F Kennedy L-1855 Luxembourg Grand Duchy of Luxembourg

Guarantor

BNP PARIBAS 16 Boulevard des Italiens F-75009 Paris France

BNP Paribas Plan

Information

Page 3

Principal features

BNP Paribas Plan (the ldquoCompanyrdquo or ldquoSICAVrdquo) is an open-ended investment company (Socieacuteteacute drsquoInvestissement agrave

Capital Variable - abbreviated to ldquoSICAVrdquo) incorporated under Luxembourg law on 7 August 2000 for an indefinite

period under the name ldquoABN AMRO Target Click Fundsrdquo in accordance with the provisions of Part II of the

Luxembourg Law of 30 March 1988 governing undertakings for collective investment It was renamed ldquoABN AMRO

Structured Investments Fundsrdquo on 27 January 2006 ldquoFortis Planrdquo on 3 October 2008 and ldquoBNP Paribas Planrdquo on

1 June 2010

The Company is currently governed by the provisions of part I of the Law of 17 December 2010 as amended governing

undertakings for collective investment as well as by European Directive 200965 (UCITS IV) as amended by the

Directive 201491 (UCITS V)

There is no cross-liability between sub-funds Each sub-fund is exclusively responsible for those liabilities attributable

to it the claim of any third party against a sub-fund can only be made against the assets of that sub-fund

The Articles of Association of the SICAV have been filed with the registrar of the District Court of Luxembourg where

any interested party may consult them and obtain a copy They were last modified on 18 February 2016 and were

published in the Meacutemorial Recueil des Socieacuteteacutes et Associations on 9 March 2016

The SICAV is registered in the Luxembourg Trade and Companies Register under the number B 77 227

The Articles of Association the Prospectus the KIID and periodic reports may be consulted at the Companyrsquos

registered office and at the establishments responsible for the Companyrsquos financial service Copies of the Articles of

Association and the annual and interim reports are available upon request

Except for the newspaper publications required by Law the official media to obtain any notice to shareholders from the

Company will be on the website wwwbnpparibas-amcom

Documents and information are also available on the website wwwbnpparibas-amcom

As to net asset values the Company publishes the legally required information in the Grand Duchy of Luxembourg and

in all other countries where the shares are publicly offered

This information is also available on the website wwwbnpparibas-amcom

Purpose of the SICAV

The SICAVrsquos purpose is to manage its capital for the benefits of its shareholders Sub-funds within the SICAV invest in

a variety of transferable securities money market instruments units or shares of UCIs credit institution deposits and

derivative instruments denominated in various currencies and issued in different countries using the principle of risk

spreading and have the general investment goal of seeking the best possible result

a) Guaranteed sub-funds

Each guaranteed sub-fund has a specified life span and invests in progressively lower risk investments as its maturity

date approaches Therefore the asset allocation of the guaranteed sub-funds is expected to change over time

The Board of Directors reserves the right not to increase the guaranteed value if a sub-fundrsquos assets consist solely of

fixed income securities such as money market instruments or time deposits or UCITSUCI invested in money market

instruments This could occur when a sub-fund comes closer to its maturity date

The guaranteed sub-funds Easy Future 2021 to 2043 provide a guarantee in their respective reference currency which is

issued by BNP PARIBAS (the ldquoGuarantorrdquo) and will be effective on the maturity date of each guaranteed sub-fund

Considering the evolution of their NAVs and Guaranteed values and that their assets are only made of rates

instruments the Board of Directors decided as authorised by the Prospectus not to increase the current Guaranteed

Values after the NAV dated 28 August 2019 for the sub-fund Easy Future 2033 and after the NAV dated

12 September 2019 for the sub-funds Easy Future 2023 and Easy Future 2038 until further resolution

BNP Paribas Plan

Information

Page 4

Guarantee

The guarantor will guarantee the guaranteed value to investors at the respective maturity date of each guaranteed

sub-fund The Guarantee will apply to all Shares outstanding on the maturity date In case of a call of the Guarantee the

Guarantor will pay the Company on behalf of the relevant shareholders of any guaranteed sub-fund the total amount

callable within 15 business days upon receipt of a drawing certificate (the ldquoDrawing Certificaterdquo) to be issued by the

Company no later than 5 business days after the maturity date provided that such total amount callable may be reduced

by any additional amount (as defined in the Companys prospectus) as the case may be

The Guarantee shall be payable to any guaranteed sub-fund as from the maturity date only Shareholders who redeem

their Shares on a date other than the maturity date will be paid the NAV per Share on the date of such redemption

The Guarantor reserves the right to terminate the Guarantee

(i) in the event where the Board of Directors of the Company is no longer composed of a majority of

representatives of the BNP Paribas Group for reasons other than voluntary resignation

(ii) if the Management Company is replaced by a company chosen from outside the BNP Paribas Group without

the consent of the Guarantor (provided that the Guarantor will not unreasonably withhold its consent

regarding the replacement)

(iii) if the Management Company andor the Investment Manager is no longer directly or indirectly controlled by

the Guarantor

b) Derivative sub-fund

The ldquoInternational Derivativesrdquo (the ldquoDerivatives Fundrdquo) aims to provide its investors with capital growth through

investment in a quantitatively and dynamically managed portfolio of derivatives based on international equities and

equity indices To this end the Derivatives Fund will invest in options and futures both listed and over-the-counter

(OTC) as the Investment Manager deems appropriate The Derivatives Fund may also invest in other derivatives such

as swaps and forward foreign exchange contracts

c) Pension sub-fund

The ldquoPension Returnrdquo invests in UCITS andor UCI which invest in equities debt securities other transferable

securities money market instruments financial derivative instruments on this type of asset financial derivative

instruments based on commodities indices and real estate indices in order to achieve maximum profitability for the risk

incurred

When the investment in UCITS andor UCI is not considered attractive the sub-fund may be invested directly in

underlying targeted assets except those relating to the exposure on commodities and real estate

Emphasis is placed on international diversification of investments with a long term target risk profile comparable to

global equities For effective portfolio management the manager may vary the actual asset class weightings based on

market conditions and his forecasts The sub-fund will mainly apply ldquolong-onlyrdquo strategies so that no leverage will be

created

BNP Paribas Plan

Managers report

Page 5

Economic context

Growth picked up at the beginning of 2019 after a dip in activity at the end of 2018 as illustrated by the 06 increase

in GDP in OECD countries for Q1 2019 It then slowed down in Q2 (to +04) leading to a disappointing Q3 (+03)

Risks to global growth mounted over the months Uncertainty linked to the trade dispute between the United States and

China and protectionist policy in the US more generally weighed on business surveys and raised fears of a recession In

the manufacturing sector the global PMI (purchasing managersrsquo index) which stood at 519 in November 2018 fell

below 50 in May It slid to 493 in July its lowest point since mid-2009 In October it climbed back up to 498 The

disappointing results of this survey go some way towards explaining the downward revisions of the growth outlook

for 2019 and 2020 for most major economies both developed and emerging Against this backdrop the main central

banks which had adopted an accommodative tone at the start of 2019 took further monetary easing measures while

advocating for fiscal policy support The end of the period under review saw a marginal improvement in the perception

of the economic climate The WTI price responded to concerns about global growth by sliding to USD 42 at the end

of 2018 (compared with 653 at the end of October) It rose again in early 2019 thanks to better compliance with the

production reduction agreement by OPEC and its partners It then fluctuated in line with changes in oil production

levels and geopolitical news Following the mid-September drone attacks on Saudi facilities the WTI - which had

fluctuated since June at between USD 50 and USD 60 a barrel - rose drastically to over USD 62 The

faster-than-expected recovery in production paved the way for a slight downturn which saw the barrel end the year at

USD 5420 (-17 in 12 months)

United States

GDP growth slowed at the end of 2018 recording a 11 rise in Q4 and average growth of 29 in 2018 In 2019 it

surged in Q1 (+31) and levelled out in Q2 and Q3 (+20 then +21) driven by buoyant consumer spending After

a 3 rise in 2018 personal consumption expenditure gained 22 on average during the first three quarters of 2019

Consumer confidence was not harmed by the uncertainty linked to trade policy and is still close to the cycle peaks

reached at the end of 2018 This phenomenon is largely due to conditions in the labour market The unemployment rate

(38 in October 2018) fell in September to its lowest level in 50 years (35) Many indicators used to assess the

health of the labour market are now close to their best levels in 25 years In an environment where companies are

confirming that they are hiring and having difficulty finding qualified staff a reversal of this positive employment trend

seems unlikely The rise in wages is real but still modest whereas average hourly wages grew by 3 year-on-year

in 2018 they are now increasing by around 35 (wage data for private sector non-managerial staff) Productive

investment remains the biggest weakness in the US economy which is in ldquogood healthrdquo according to the Fedrsquos

assessment After non-residential investment contracted by 1 in Q2 and 27 in Q3 the leading indicators

(companiesrsquo investment intentions) do not appear to be particularly encouraging The key ISM manufacturing index

(purchasing managersrsquo index) fell below 50 in August reflecting a contraction in manufacturing activity The service

sector is still expanding but sent mixed signals at year-end

Europe

After a slowdown in the second half of 2018 which turned out to be less significant than initially estimated GDP

growth picked up to +04 in Q1 2019 exceeding the forecasts of limited growth based on business surveys but Q2

growth of +02 was disappointing In Q3 this index also came out at 02 which this time seemed like a pleasant

surprise given that business surveys had continued to deteriorate Year-on-year GDP growth fell from 16 in Q3 2018

to 12 a year later The composite PMI which reflects purchasing managersrsquo perception of activity (manufacturing

and service sector) slid from 531 in October 2018 to 501 in September and only slightly picked up in October (506)

Such levels are usually associated with a quasi-stagnation of the economy Real data (production and consumption) held

up better and should continue to do so as employment has steadily increased and the growth in lending is good news

for domestic demand The surveys seem to overestimate the downside risks to demand The uncertainty linked to

possible trade tensions with the United States in the automotive sector is a risk however Similarly the situation of the

German economy which is dependent on its industrial sector and export demand appears somewhat concerning

Surveys show that manufacturing activity is at its lowest level since 2012 and industrial production and orders are

moving in the wrong direction After a slight contraction in its GDP in Q2 Germany nevertheless managed to avoid a

technical recession in Q3 (+01) and the indicators published at year-end look a little more encouraging Underlying

inflation (excluding food and energy) in the eurozone remains around 1 year-on-year well below the 2 target

BNP Paribas Plan

Managers report

Page 6

Japan

Q4 GDP growth was 15 on an annualised basis in Q4 bringing growth for 2018 to 08 after highly erratic quarterly

changes (due to extreme weather phenomena during the summer of 2018) At the start of 2019 manufacturing activity

and exports suffered due to the global slowdown but GDP rose by 20 in Q1 and by 18 in Q2 The initial estimate

of GDP growth in Q3 (+02) fell short of the expected level The year-on-year GDP figure (+13) returned to its

highest level since mid-2018 though According to the BoJrsquos quarterly business survey published at the start of

October 2019 major manufacturing companiesrsquo confidence has fallen to a six-year low The VAT hike on 1 October

complicates the analysis of consumer behaviour Retail sales gained pace in September but collapsed in October

despite the measures taken to limit the negative effects usually seen after a VAT increase Inflation is not showing any

sign of rising Quite the contrary the year-on-year growth in prices excluding food products stood at 04 in

October 2019 versus 1 a year earlier In response to this situation the Bank of Japan clearly suggested that there

could be further rate cuts There appears to be difficulty establishing a consensus within the committee however with

some members highlighting the risks to the financial system posed by negative rates

United Kingdom

In response to the decision of the United Kingdom (UK) to trigger Article 50 of the Treaty of the European Union (EU)

leading to its withdrawal from the European Union at the currently planned date of 31 January 2020 at the latest

BNPP AM has set up a comprehensive contingency plan in order to continue to serve its clients without interruption in

all cases including the event of an exit without the ratification of a withdrawal agreement In particular the investment

policy has been reviewed and any reference to the EU or the EEA (European Economic Area) has been assessed in

order to adapt accordingly all related documentation and if necessary in a limited number of occurrences to adapt the

product composition For the funds distributed in France and eligible to PEA (Plan drsquoEpargne en Actions or share

savings plan) a French tax investment scheme an impact analysis has been made appropriate measures have been set

up and will be communicated to holders concerned when the exit date is confirmed For the funds currently distributed

in the UK a notification was submitted to the FCA - Financial Conduct Authority the UK regulator to benefit from the

TPR Temporary Permission Regime to continue to market temporarily in the UK

Emerging markets

The data available have shown an erratic trend in global trade in 2019 rather than a collapse For emerging economies

the rise of protectionism is of course still a threat and the uncertainty surrounding this issue explains why business

surveys are barely improving In the manufacturing sector the aggregated emerging economy index closed at 51 in

October 2019 versus 505 a year earlier Several central banks have lowered their key rates since the start of the

summer (including Brazil Mexico Chile Peru South Korea and India) and have indicated that they may continue this

cycle Countries where there are structural weaknesses (such as an excessive deficit or inadequate currency reserves)

andor chaotic political conditions have seen their currencies sharply depreciate In China GDP growth stood at 64

year-on-year in Q1 and 62 in Q2 the lowest rate since 1992 The other economic indicators published at year-end

nonetheless showed signs of improvement as the recent monetary easing measures boosted private sector lending In

India GDP grew by 45 in Q3 year-on-year marking a six-year low despite the stimulus from public spending

BNP Paribas Plan

Managers report

Page 7

Monetary policy

The European Central Bank (ECB) monetary policy was adjusted in September 2019 which appeared to be the logical

outcome of the change in tone characteristic of the start of the year In the autumn of 2018 the ECB discussed the

upcoming normalisation of its asset purchases (QE) and steered expectations of an initial rate hike a year later

Mario Draghi became more cautious from the end of 2018 and after the Governing Councilrsquos meeting on

7 March 2019 monetary policy took a more accommodative turn than expected A third round of long-term bank

refinancing (Targeted Longer-Term Refinancing Operations or TLTRO-III) was announced At the end of March

Mario Draghi made it clear that the ECB could postpone its first interest rate hike if necessary Observers then began to

anticipate a further reduction in key rates On 6 June the Governing Council further eased its forward guidance

regarding monetary policy Mario Draghirsquos speech at Sintra on 18 June convinced observers that the ECB would take

new measures if inflation did not move towards its target The July meeting was marked by the reintroduction of a

downward bias and a very gloomy economic forecast particularly for the German manufacturing sector Given these

conditions the ECB chose to announce a wide range of easing measures on 12 September including a 10 bp reduction

in the deposit rate to -050 and a modulation of this rate applied to excess reserves to avoid unduly penalising banks

The other two key rates have remained unchanged since March 2016 0 for the main refinancing operations and

025 for the marginal lending facility The conditions of TLTRO-III have been relaxed The announcement in

September of the resumption of QE from 1 November created dissension within the ECB casting a shadow over the

end of Draghirsquos presidency When she took up her post on 1 November Christine Lagarde found a divided Governing

Council

The US Federal Reserve (Fed) raised its rates in December 2018 for the fourth time that year The US economyrsquos

momentum prompted the FOMCrsquos members to consider additional rate rises in 2019 From January Jerome Powell let

it be known that a pause in the cycle of rate hikes was very likely In March the conclusions of the FOMC forecasts

and various official statements confirmed this approach The other aspect of monetary policy normalisation also took a

less restrictive turn in 2019 with the Fed announcing that balance sheet size reduction operations (ongoing

since October 2017) would be stopped in September earlier than expected The real turnaround in monetary policy

came in June After the FOMC meeting of 18 and 19 June the committee indicated it would ldquoact as appropriate to

sustain the expansionrdquo in the face of increasing uncertainty (trade tensions and global growth) In July September

and October the Fed made good on its words while continuing to state that the US economy was ldquoin good healthrdquo

Following these three 25 bp rate cuts the target federal funds rate was reduced to the 150 - 175 range From July

Jerome Powell explained the lowering of rates as a ldquomid-cycle adjustmentrdquo however In September and October the

official comments confirmed this approach reducing expectations of a long cycle of monetary easing In terms of both

hikes and cuts the message is clear unless there are major changes monetary policy should stay on hold Since

September the Fed has been stepping in to limit tensions on the interbank market and has said that purchases of T-bills

will continue until at least Q2 2020 but should not be viewed as a resumption of quantitative easing

Currency markets

Until January 2019 the EURUSD exchange rate (11318 at the end of October) fluctuated erratically Political

uncertainty in Italy pushed it back to around 112 on 12 November From mid-November it trended between 113 and

116 in response to monetary policy decisions and comments on both sides of the Atlantic Despite the Fedrsquos change in

tone in early 2019 and expectations of a cut in US key rates at the end of April it moved back towards 111 and levels

not seen for two years It then fluctuated within a narrow range in May and recovered in June before adopting a

downward trend that reduced it to 109 at the end of September This trajectory also reflects doubts about the health of

Europersquos economy particularly in Germany and the implementation of further monetary easing measures by the ECB

In October the exchange rate rose again however at the start of the month before closing at 11150 The euro

benefited from the progress in discussions between the UK and the European Union Investors believed that the

likelihood of a no-deal Brexit had decreased reducing the risks to activity in the eurozone Over 12 months the

EURUSD exchange rate fell slightly (-15) which quite accurately reflects operatorsrsquo bafflement

BNP Paribas Plan

Managers report

Page 8

Over the last 12 months the USDJPY exchange rate fluctuated wildly within a broad range (104-114) Initially it

fluctuated at the top of the range despite the less accommodative shift in the BoJrsquos monetary policy at the start of the

period It was not until the last fortnight of 2018 that the yen appreciated as investors began to more clearly anticipate a

continued reduction of asset purchases and to factor in the prospect of a key rate hike to manage the difficulties created

for financial institutions by negative interest rates On 3 January 2019 at the start of trading in small volumes in Asia

the USDJPY exchange rate experienced a flash crash It dropped to 105 as a consequence of the steep downturn in the

stock markets before quickly rising again to 108 Until March it continued on an upwards trend to around the 112

level as the BoJ openly recognised its inability to meet its inflation target thereby opening the door to a long period of

highly accommodative monetary policy However after some erratic movements in April the yen did start to appreciate

clearly on the back of its status as a safe haven currency as equities fell Thus at the end of May the USDJPY exchange

rate fell back below 109 the threshold at which the BoJ had indicated its readiness to take action on the currency

market at the end of 2018 In August the safe-haven yen rose further trading at around 1044 upon a sharp drop in

equities From September monetary easing expectations fuelled by the BoJrsquos comments weighed on the yen The

USDJPY exchange rate closed at 10807 up 45 over 12 months

Bond markets

At the start of the period the US 10-year T-note yield which had reached its highest level since May 2011 on

5 October 2018 at nearly 325 stayed above 3 for a few weeks fluctuating as inflation and wage data and the Fedrsquos

comments were published Several factors increased expectations of a more aggressive key rate hike It began to fall

from mid-November a trend accentuated by the difficulties on the equity markets doubts about global growth and

some disappointing US economic indicators This brought the 10-year yield to 260 a level that held in January and

February before it quickly fell again in March marking the start of a strong trend The 10-year T-note yield temporarily

fell below 150 in August (the lowest level in three years) and then rose only slightly to 169 at the end of October

This 145 bp drop over 12 months reflected the Fedrsquos particularly accommodative turnaround in the Fedrsquos monetary

policy stance in the face of exogenous risks to US growth and continued low inflation The adjustment of expectations

was swift and these expectations were partly fulfilled by the three key rate cuts in July September and October In

August equity market difficulties and growth fears exacerbated by renewed trade tensions increased the reversal of the

yield curve The spread between the 10-year and three-month maturities was about -050 at the end of August and the

gap between the 10-year and two-year maturities turned negative which had not occurred since the last recession It

soon returned to positive territory The 30-year rate reached a new all-time low in August at less than 2 before moving

back up to 225 at year-end

The German 10-year Bund yield which was 039 at the end of October 2018 began to trend downward from the start

of the period under review It closed at -041 at the end of October 2019 down 80 bp over 12 months This

widespread appetite for government bonds results from expectations of an easing of monetary policy following

statements from the Fed and the ECB In the autumn of 2018 serious tensions in Italian rates resulting from the conflict

between the government elected in March and the European Commission promoted further strength in the German

market Its move back into negative territory on 22 March was triggered by a further fall in the eurozone business

surveys (PMI) but the downward trend reflects the ECBrsquos caution disappointments regarding growth and monetary

policy expectations Rates eased further in the flight to safety in May with the 10-year Bund yield dropping below

previous lows hit in July 2016 The yield continued to fall thereafter dropping below the ECBrsquos deposit rate (which was

then -040) at the beginning of July Expectations of both a cut to the ECBrsquos key interest rates and a resumption of the

securities purchase programme were at the root of this trend The easing was observed in all European markets as

investors embarked on a quest for higher yields In August the entire German yield curve turned negative with the

10-year rate at its lowest at -071 From this time rates rose moving away from these lows due to the revival of risk

appetite the improvement in the perception of global economic conditions and the fall in expectations of additional

monetary easing measures from the ECB after the announcements in September

BNP Paribas Plan

Managers report

Page 9

Equity markets

The erratic fluctuations in equity prices over the last 12 months resulted in a rise of 103 in the MSCI AC World index

and 9 in the MSCI Emerging index denominated in USD Our period under review began when global equities had

experienced a steep fall in October (-76) because of temporary but severe upwards pressures on US long rates given

the rise in wages and in expectations of a faster tightening of monetary policy in the US Until the end of the year

equity investorsrsquo nervousness was stoked by fears about global growth From early 2019 the change in central bankersrsquo

tone and the hope of new quantitative easing measures reassured markets and drove a spectacular equity rally in January

(+78) From this point two issues were dominant and explain the alternating bullish and bearish phases the state of

trading relations between the US and a number of its partners (first and foremost China) and monetary policy

announcements After the rebound in January the equity rally continued at a more measured pace before being called

into question at the beginning of May by fears of a resurgence in protectionism stoked by Donald Trumprsquos threats to

raise tariffs further on Chinese products and tax Mexican imports The speed of the -62 fall in global equities in May

is clearly one of the reasons for the reaction of central banks Observers took these very accommodating statements that

highlighted weak inflation as a firm commitment to introduce additional measures which again led to a strong equity

rally News regarding the trade talks also reassured investors President Trump lifted the threat - at least temporarily - of

imposing tariffs on Mexican products after progress was made on illegal immigration Elsewhere statements from

China and the US quickly fuelled hopes of a meeting during the G20 summit at the end of June in Osaka which resulted

in a truce in the trade war As the months went by and the soap opera of the trade negotiations dragged on investorsrsquo

bewilderment grew Confusion may become distress as illustrated by the 62 decline in global equities between

26 July and 15 August September saw this confusion gain ground again despite the lack of improvement in

fundamentals and potentially destabilising political and geopolitical events In October after a difficult start to the

month the improvement in perceptions of the global economy ensured that the rise continued The year-on-year

changes in the main developed markets (index prices in local currencies excluding reinvested dividends) are as follows

+12 for the SampP 500 +46 for the Nikkei 225 and +127 for the EUROSTOXX 50

The Board of Directors

Luxembourg 28 November 2019

Note The information stated in this report is historical and not necessarily indicative of future performance

Independent auditors report

Page 10

To the Shareholders of

BNP Paribas Plan

Opinion

We have audited the financial statements of BNP Paribas Plan (the ldquoFundrdquo) and of each of its sub-funds which

comprise the statement of net assets and the securities portfolio as at 31 October 2019 and the statement of operations

and changes in net assets for the year then ended and the notes to the financial statements including a summary of

significant accounting policies

In our opinion the accompanying financial statements give a true and fair view of the financial position of the Fund and

of each of its sub-funds as at 31 October 2019 and of the results of their operations and changes in their net assets for

the year then ended in accordance with Luxembourg legal and regulatory requirements relating to the preparation and

presentation of the financial statements

Basis for Opinion

We conducted our audit in accordance with the Law of 23 July 2016 on the audit profession (the ldquoLaw of

23 July 2016rdquo) and with International Standards on Auditing (ldquoISAsrdquo) as adopted for Luxembourg by the ldquoCommission

de Surveillance du Secteur Financierrdquo (ldquoCSSFrdquo) Our responsibilities under the Law of 23 July 2016 and ISAs are

further described in the laquo responsibilities of the ldquoreacuteviseur drsquoentreprises agreacuteeacuterdquo for the audit of the financial statements raquo

section of our report We are also independent of the Fund in accordance with the International Ethics Standards Board

for Accountantsrsquo Code of Ethics for Professional Accountants (ldquoIESBA Coderdquo) as adopted for Luxembourg by the

CSSF together with the ethical requirements that are relevant to our audit of the financial statements and have fulfilled

our other ethical responsibilities under those ethical requirements We believe that the audit evidence we have obtained

is sufficient and appropriate to provide a basis for our opinion

Other information

The Board of Directors of the Fund is responsible for the other information The other information comprises the

information included in the annual report but does not include the financial statements and our report of the ldquoreacuteviseur

drsquoentreprises agreacuteeacuterdquo thereon

Our opinion on the financial statements does not cover the other information and we do not express any form of

assurance conclusion thereon

In connection with our audit of the financial statements our responsibility is to read the other information and in doing

so consider whether the other information is materially inconsistent with the financial statements or our knowledge

obtained in the audit or otherwise appears to be materially misstated If based on the work we have performed we

conclude that there is a material misstatement of this other information we are required to report this fact We have

nothing to report in this regard


Page 11

Responsibilities of the Board of Directors of the Fund for the financial statements

The Board of Directors of the Fund is responsible for the preparation and fair presentation of these financial statements

in accordance with Luxembourg legal and regulatory requirements relating to the preparation and presentation of the

financial statements and for such internal control as the Board of Directors of the Fund determines is necessary to

enable the preparation of financial statements that are free from material misstatement whether due to fraud or error

In preparing the financial statements the Board of Directors of the Fund is responsible for assessing the Fundrsquos and

each of its sub-fundsrsquo ability to continue as a going concern disclosing as applicable matters related to going concern

and using the going concern basis of accounting unless the Board of Directors of the Fund either intends to liquidate the

Fund or any of its sub-funds or to cease operations or has no realistic alternative but to do so

Responsibilities of the ldquoreacuteviseur drsquoentreprises agreacuteeacuterdquo for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from

material misstatement whether due to fraud or error and to issue a report of the ldquoreacuteviseur drsquoentreprises agreacuteeacuterdquo that

includes our opinion Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in

accordance with the Law of 23 July 2016 and with ISAs as adopted for Luxembourg by the CSSF 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 taken

on the basis of these financial statements

As part of an audit in accordance with the Law of 23 July 2016 and with ISAs as adopted for Luxembourg by the CSSF

we exercise professional judgment and maintain professional skepticism throughout the audit We also

bull Identify and assess the risks of material misstatement of the financial statements whether due to fraud or error

design and perform audit procedures responsive to those risks and obtain audit evidence that is sufficient and

appropriate to provide a basis for our 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

bull 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 Fundrsquos

internal control

bull Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related

disclosures made by the Board of Directors of the Fund

bull Conclude on the appropriateness of Board of Directors of the Fundrsquos 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 Fundrsquos or any of its sub-fundsrsquo ability to continue as a going concern If we

conclude that a material uncertainty exists we are required to draw attention in our report of the ldquoreacuteviseur

drsquoentreprises agreacuteeacuterdquo to the related disclosures in the financial statements or if such disclosures are inadequate to

modify our opinion Our conclusions are based on the audit evidence obtained up to the date of our report of the

ldquoreacuteviseur drsquoentreprises agreacuteeacuterdquo However future events or conditions may cause the Fund or any of its sub-funds

(except for the sub-funds where a decision or an intention to close exists) to cease to continue as a going concern

bull In respect of sub-funds where a decision or an intention to close exists we conclude on the appropriateness of the

Board of Directors of the Funds use of the non-going concern basis of accounting We also evaluate the adequacy of

the disclosures describing the non-going basis of accounting and reasons for its use Our conclusions are based on

the audit evidence obtained up to the date of our report of the ldquoreacuteviseur drsquoentreprises agreacuteeacuterdquo

bull Evaluate the overall presentation structure and content of the financial statements including the disclosures and

whether the financial statements represent the underlying transactions and events in a manner that achieves fair

presentation


We communicate with those charged with governance regarding among other matters the planned scope and timing ofthe audit and significant audit findings including any significant deficiencies in internal control that we identify duringour audit

Ernst amp YoungSociete anonyme

Cabinet de revision agree

~CKS

Luxembourg 11 February 2020

Page 12

Page 13

BNP Paribas Plan

Financial statements at 31102019

The accompanying notes form an integral part of these financial statements

Page 14

Easy Future 2018 Easy Future 2021 Easy Future 2023 Easy Future 2026

Expressed in EUR EUR EUR EUR

Notes Statement of net assets

Assets 0 8 596 453 126 344 596 23 089 484

Securities portfolio at cost price 0 7 678 057 113 745 468 18 612 745 Unrealised gain(loss) on securities portfolio 0 437 199 8 036 413 2 698 813

Securities portfolio at market value 0 8 115 256 121 781 881 21 311 558 Options at market value 29 0 0 0 0 Net Unrealised gain on financial instruments 278 0 0 2 722 746 0 Cash at banks and time deposits 2 0 380 000 1 551 424 1 625 950 Other assets 0 101 197 288 545 151 976

Liabilities 0 519 462 2 059 769 1 180 478

Bank overdrafts 0 95 468 0 0 Net Unrealised loss on financial instruments 278 0 418 711 0 701 676 Other liabilities 0 5 283 2 059 769 478 802

Net asset value 0 8 076 991 124 284 827 21 909 006

Statement of operations and changes in net

assets

Income on investments and assets 0 1 020 206 093 1 635

Management fees 3 0 31 820 1 351 260 398 849 Bank interest 0 2 240 66 685 7 971 Other fees 4 0 27 908 728 494 127 637 Taxes 5 0 7 356 143 965 25 160 Transaction fees 11 0 0 74 215

Total expenses 0 69 324 2 290 478 559 832

Net result from investments 0 (68 304) (2 084 385) (558 197)

Net realised result on

Investments securities 0 (107 358) 2 889 289 2 010 285 Financial instruments 2 0 11 059 9 558 677 (267 032)

Net realised result 0 (164 603) 10 363 581 1 185 056

Movement on net unrealised

gain(loss) on

Investments securities 0 1 085 958 8 051 495 1 441 942 Financial instruments 0 (879 300) (14 073 901) (698 335)

Change in net assets due to operations 0 42 055 4 341 175 1 928 663

Net subscriptions(redemptions) (1 204 844) (1 196 570) (124 766 729) (19 082 272)

Increase(Decrease) in net assets during

the yearperiod (1 204 844) (1 154 515) (120 425 554) (17 153 609)

Net assets at the beginning of the

financial yearperiod 1 204 844 9 231 506 244 710 381 39 062 615

Net assets at the end of the financial

yearperiod 0 8 076 991 124 284 827 21 909 006

BNP Paribas Plan


Page 15

Easy Future 2028 Easy Future 2033 Easy Future 2038 Easy Future 2043 International

Derivatives Pension Return

EUR EUR EUR EUR EUR EUR

1 602 310 1 289 800 1 476 477 799 073 60 757 714 1 899 232

1 342 372 844 761 852 563 371 903 49 936 244 1 370 302 765 (1 133) (1 122) 823 (16 316) 527 561

1 343 137 843 628 851 441 372 726 49 919 928 1 897 863

0 0 0 0 2 449 0

28 152 424 562 566 259 360 880 2 139 338 0

229 784 19 475 54 787 59 140 8 694 054 1 369

1 237 2 135 3 990 6 327 1 945 0

2 462 2 830 2 926 2 906 979 454 323

0 0 0 0 921 671 0

0 0 0 0 0 0

2 462 2 830 2 926 2 906 57 783 323

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

331 1 504 2 486 3 457 57 926 0

21 542 43 863 47 987 40 833 548 004 2 307

836 2 766 3 179 3 974 13 940 6

6 895 7 966 8 618 8 237 27 400 1 242

1 246 3 851 4 222 4 004 8 783 32

5 287 0 0 0 44 218 13

35 806 58 446 64 006 57 048 642 345 3 600

(35 475) (56 942) (61 520) (53 591) (584 419) (3 600)

12 197 (2 183) (2 586) (5 469) (12 453) 8 725

1 269 925 1 453 074 1 782 846 2 403 618 4 202 484 (20)

1 246 647 1 393 949 1 718 740 2 344 558 3 605 612 5 105

(5 481) (7 600) (7 409) (3 195) (15 481) 225 257

(1 150 141) (996 002) (1 255 497) (1 545 456) 5 252 340 0

91 025 390 347 455 834 795 907 8 842 471 230 362

(3 618 687) (4 001 375) (4 218 052) (4 915 948) 9 598 196 (47 113)

(3 527 662) (3 611 028) (3 762 218) (4 120 041) 18 440 667 183 249

5 127 510 4 897 998 5 235 769 4 916 208 41 337 593 1 715 660

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

BNP Paribas Plan



Page 16

Consolidated

Expressed in EUR


Assets 225 855 139

Securities portfolio at cost price 194 754 415 Unrealised gain(loss) on securities portfolio 11 683 003

Securities portfolio at market value 206 437 418 Options at market value 29 2 449 Net Unrealised gain on financial instruments 278 6 241 937 Cash at banks and time deposits 2 12 615 983 Other assets 557 352

Liabilities 4 750 610

Bank overdrafts 1 017 139 Net Unrealised loss on financial instruments 278 1 120 387 Other liabilities 2 613 084

Net asset value 221 104 529

Statement of operations and changes in net assets

Income on investments and assets 274 452

Management fees 3 2 486 465 Bank interest 101 597 Other fees 4 944 397 Taxes 5 198 619 Transaction fees 11 49 807

Total expenses 3 780 885

Net result from investments (3 506 433)


Investments securities 4 790 447 Financial instruments 2 20 414 631

Net realised result 21 698 645

Movement on net unrealised gain(loss) on

Investments securities 10 765 486 Financial instruments (15 346 292)

Change in net assets due to operations 17 117 839

Net subscriptions(redemptions) (153 453 394)

Increase(Decrease) in net assets during the yearperiod (136 335 555)

Net assets at the beginning of the financial yearperiod 357 440 084

Net assets at the end of the financial yearperiod 221 104 529

BNP Paribas Plan

Key figures relating to the last 3 years


Page 17

Easy Future 2018 EUR EUR EUR Number of shares

31102017 31102018 31102019 31102019

Net assets 1 495 098 1 204 844 0

Net asset value per share

Share ldquoClassic - Capitalisationrdquo 10454 10291 0 0


31102017 31102018 31102019 31102019

Net assets 10 364 899 9 231 506 8 076 991

Net asset value per share Share ldquoClassic - Capitalisationrdquo 11400 11261 11296 44 588840

Share ldquoPrivilege - Capitalisationrdquo 11248 11149 11223 27 090480


31102017 31102018 31102019 31102019

Net assets 430 486 852 244 710 381 124 284 827

Net asset value per share Share ldquoClassic - Capitalisationrdquo 12006 11629 11857 1 034 631740



31102017 31102018 31102019 31102019

Net assets 60 177 916 39 062 615 21 909 006


Share ldquoClassic - Capitalisationrdquo 13061 12415 13109 167 115390 Share ldquoPrivilege - Capitalisationrdquo 12538 11992 12739 20000


31102017 31102018 31102019 31102019

Net assets 5 364 799 5 127 510 1 599 848




31102017 31102018 31102019 31102019

Net assets 5 070 980 4 897 998 1 286 970


Share ldquoClassic - Capitalisationrdquo 14598 13964 14934 8 599190

Share ldquoPrivilege - Capitalisationrdquo 13272 12797 13794 20000


31102017 31102018 31102019 31102019

Net assets 5 385 036 5 235 769 1 473 551



BNP Paribas Plan



Page 18


31102017 31102018 31102019 31102019

Net assets 5 202 773 4 916 208 796 167




International Derivatives EUR EUR EUR Number of shares

31102017 31102018 31102019 31102019

Net assets 78 097 844 41 337 593 59 778 260


Share ldquoI - Capitalisationrdquo 2130 2025 2446 2 213 667610

Pension Return EUR EUR EUR Number of shares

31102017 31102018 31102019 31102019

Net assets 1 947 051 1 715 660 1 898 909

Net asset value per share Share ldquoI - Capitalisationrdquo 15376 15330 17463 10 873870

BNP Paribas Plan Easy Future 2021

Securities portfolio at 31102019 Expressed in EUR


Page 19

Quantity Denomination Quotation currency Market value of net

assets

Transferable securities admitted to an official stock exchange listing andor traded

on another regulated market 8 064 737 9984

Shares 7 659 705 9483

Germany 4 605 763 5701

1 336 ADIDAS AG EUR 369 872 458

1 683 ALLIANZ SE - REG EUR 368 577 456

5 420 BASF SE EUR 369 807 458

5 520 BAYERISCHE MOTOREN WERKE AG EUR 379 279 470

4 297 DEUTSCHE BOERSE AG EUR 597 067 738

14 856 DEUTSCHE LUFTHANSA - REG EUR 230 937 286

11 644 DEUTSCHE POST AG - REG EUR 369 697 458

23 381 DEUTSCHE TELEKOM AG - REG EUR 368 672 456

56 182 EON SE EUR 507 716 629

5 835 FRESENIUS SE amp CO KGAA EUR 274 974 340

1 547 MUENCHENER RUECKVERSICHERUNG AG - REG EUR 385 203 477

3 232 SAP SE EUR 383 962 475

The Netherlands 1 905 555 2360

40 900 ING GROEP NV EUR 414 235 513

17 637 KONINKLIJKE AHOLD DELHAIZE NV EUR 393 746 487

111 726 KONINKLIJKE KPN NV EUR 310 598 385

10 296 KONINKLIJKE PHILIPS NV EUR 404 324 501

5 796 WOLTERS KLUWER EUR 382 652 474

Belgium 447 723 554

6 196 UCB SA EUR 447 723 554

France 380 380 471

2 962 AIRBUS SE EUR 380 380 471

Spain 320 284 397

124 867 CAIXABANK EUR 320 284 397

Bonds 405 032 501

France 405 032 501

400 000 FRTR FUNG STRIP 0000 09-25102021 EUR 405 032 501

SharesUnits in investment funds 50 519 063

Luxembourg 50 519 063

15000 BNP PARIBAS FUNDS ABSOLUTE RETURN MULTI-STRATEGY - I CAP EUR 14 258 018

010 PARWORLD MULTI-ASSET BOOSTER - I CAP EUR 36 261 045

Total securities portfolio 8 115 256 10047




Page 20


assets



Shares 112 497 521 9052

France 110 131 361 8861

39 710 AIR LIQUIDE SA EUR 4 729 461 381

353 061 AXA SA EUR 8 362 250 673

107 919 BNP PARIBAS EUR 5 051 688 406

47 287 BOUYGUES SA EUR 1 796 906 145

123 318 COMPAGNIE DE SAINT GOBAIN EUR 4 497 407 362

340 475 CREDIT AGRICOLE SA EUR 3 978 450 320

52 398 DANONE EUR 3 896 315 313

321 954 ENGIE EUR 4 827 700 388

17 495 ESSILORLUXOTTICA EUR 2 393 316 193

8 601 KERING EUR 4 388 230 353

10 410 LOREAL EUR 2 725 338 219

16 127 LVMH EUR 6 168 578 496

352 343 ORANGE EUR 5 087 833 409

8 656 PERNOD RICARD SA EUR 1 432 568 115

73 522 RENAULT SA EUR 3 364 367 271

47 551 SAFRAN SA EUR 6 745 109 543

79 245 SANOFI AVENTIS EUR 6 547 222 527

48 459 SCHNEIDER ELECTRIC SE EUR 4 034 696 325

350 550 SOCIETE GENERALE SA EUR 8 921 499 717

187 230 TOTAL SA EUR 8 825 086 710

60 941 VEOLIA ENVIRONNEMENT EUR 1 436 379 116

59 890 VINCI SA EUR 6 024 934 485

196 155 VIVENDI EUR 4 896 029 394

Germany 1 939 413 157


5 938 BASF SE EUR 405 150 033


3 050 SAP SE EUR 362 340 029

The Netherlands 426 747 034


Bonds 6 281 372 505

France 6 281 372 505

5 650 000 BNP PARIBAS 2875 13-26092023 EUR 6 281 372 505

SharesUnits in investment funds 3 002 988 242

France 3 002 988 242

2 85000 THEAM I KLE GESTION EURIBOR - 2 A EUR 3 002 988 242





Page 21


assets



Shares 21 114 236 9637

France 19 767 682 9022


6 115 AIRBUS SE EUR 785 288 358

43 075 AXA SA EUR 1 020 231 466


20 995 DANONE EUR 1 561 188 713

68 136 ENGIE EUR 1 021 699 466

6 732 ESSILORLUXOTTICA EUR 920 938 420

4 167 LOREAL EUR 1 090 921 498

2 706 LVMH EUR 1 035 045 472

78 616 ORANGE EUR 1 135 215 518

4 479 SAFRAN SA EUR 635 346 290


10 000 SCHNEIDER ELECTRIC SE EUR 832 600 380


43 000 TOTAL SA EUR 2 026 805 924

38 848 VEOLIA ENVIRONNEMENT EUR 915 647 418

15 328 VINCI SA EUR 1 541 997 704

41 069 VIVENDI EUR 1 025 082 468

Germany 1 346 554 615

4 600 ALLIANZ SE - REG EUR 1 007 400 460










Page 22


assets



Shares 1 292 618 8079

France 1 292 618 8079

1 637 ACCOR SA EUR 63 057 394

2 692 AXA SA EUR 63 760 399

1 811 BOUYGUES SA EUR 68 818 430

447 CAPGEMINI SE EUR 45 125 282

3 296 CARREFOUR SA EUR 50 280 314

5 472 CREDIT AGRICOLE SA EUR 63 940 400

6 800 ENGIE EUR 101 966 637

531 ESSILORLUXOTTICA EUR 72 641 454

114 KERING EUR 58 163 364

902 LEGRAND SA EUR 63 122 395

508 MICHELIN (CGDE) EUR 55 423 346

4 968 ORANGE EUR 71 738 448

354 PERNOD RICARD SA EUR 58 587 366

3 192 PEUGEOT SA EUR 72 458 453

1 289 PUBLICIS GROUPE EUR 49 691 311

1 086 RENAULT SA EUR 49 695 311

1 463 SCOR SE EUR 55 272 345

5 127 SOCIETE GENERALE SA EUR 130 483 815

540 SODEXO SA EUR 53 244 333

958 TOTAL SA EUR 45 155 282









Page 23


assets


France 697 093 5416

7592 BNP PARIBAS CASH INVEST - CLASSIC EUR 172 553 1341

795 BNP PARIBAS INVEST 3 MOIS - CLASSIC CAP EUR 184 798 1436

833 BNP PARIBAS MOIS ISR - I - CAP EUR 191 417 1486

14077 THEAM I KLE GESTION EURIBOR - 2 A EUR 148 325 1153


1 27703 BNP PARIBAS INSTICASH EUR 1D SHORT TERM VNAV - C CAP EUR 146 535 1139

Total securities portfolio 843 628 6555




Page 24


assets


France 678 173 4602











Page 25


assets


France 326 827 4106






40000 BNP PARIBAS INSTICASH EUR 1D SHORT TERM VNAV - C CAP EUR 45 899 576


BNP Paribas Plan International Derivatives



Page 26


assets

Money Market Instruments 44 024 672 7365

Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986

58887 BNP PARIBAS INVEST 3 MOIS - X EUR 5 895 256 986


BNP Paribas Plan Pension Return



Page 27


assets


Luxembourg 1 550 015 8163

140 BNP PARIBAS EASY JPM EMBI GLOBAL DIVERSIFIED COMPOSITE TRACK -

I CAP USD 189 693 999

1 66027 BNP PARIBAS EASY MSCI EMERGING MARKETS EX CW TRACK - PRIV CAP USD 180 404 950

31570 BNP PARIBAS EASY MSCI EMU EX CW TRACK - PRIV CAP EUR 60 926 321

1 47881 BNP PARIBAS EASY MSCI EUROPE EX CW TRACK - PRIV CAP EUR 260 254 1371

40134 BNP PARIBAS EASY MSCI EUROPE SMALL CAPS EX CW TRACK - PRIV CAP EUR 91 843 484

16300 BNP PARIBAS EASY MSCI JAPAN EX CW TRACK - PRIV CAP EUR 198 160 1044

17509 BNP PARIBAS EASY MSCI NORTH AMERICA EX CW TRACK - PRIV CAP EUR 368 470 1939

10484 BNP PARIBAS EASY MSCI PACIFIC EX JAPAN EX CW TRACK - PRIV - CAP EUR 200 265 1055

Ireland 347 848 1831

4 70700 X-TRACKERS MSCI USA UCITS ETF 1C EUR 347 848 1831


Page 28

Notes to the financial statements

BNP Paribas Plan

Notes to the financial statements at 31102019

Page 29

Note 1 - General Information

a) Matured sub-fund

Sub-fund Date Event

Easy Future 2018 31 October 2018

6 November 2018

Maturity of the sub-fund

Reimbursement of the shareholders

b) Sub-funds open

All the other sub-funds whose securities portfolios are detailed in this document are available for subscription as at

31 October 2019

Note 2 - Principal accounting methods

a) Presentation of the financial statements

The financial statements of the Company are presented in accordance with the legislation in force in Luxembourg for

Undertakings for Collective Investment

The financial statements of the sub-funds Easy Future 2021 2028 2033 2038 and 2043 have been prepared on a non-

going concern basis

The Company keeps its accounts in accordance with the currency of each sub-fund The consolidation currency of the

Company is the euro (EUR)

The consolidated financial statements are calculated by totalling the net assets of each sub-fund converted if necessary

into EUR at the exchange rate prevailing on the closing date

The statement of operations and changes in net assets covers the financial year from 1 November 2018

to 31 October 2019

This annual report is prepared on the basis of the last net asset value as at 31 October 2019

b) Valuation of the securities portfolio

The valuation of all securities listed on a stock exchange or on any other regulated market functioning regularly is

recognized and accessible to the public is based on the last known closing price on the valuation day and if the securities

concerned are traded on several markets on the basis of the last known closing price on the major market on which they

are traded If the last known closing price is not a true reflection the valuation shall be based on the probable sale price

estimated by the Board of Directors in a prudent and bona fide manner

Unlisted securities or securities not traded on a stock exchange or another regulated market which functions in a regular

manner is recognised and accessible to the public shall be valued on the basis of the probable sale price estimated in a

prudent and bona fide manner by a qualified professional appointed for this purpose by the Board of Directors

If permitted by market practice money market instruments are valued at their nominal value plus accrued interest or

according to the linear amortisation method Any decision to value the assets in the portfolio using the linear amortisation

method must be approved by the Board of Directors which will record the reasons for such a decision The Board of

Directors will put in place appropriate checks and controls concerning the valuation of the instruments

The value of unitsshares in undertakings for collective investment are determined on the basis of the last net asset value

available on the valuation day If this price is not a true reflection the valuation shall be based on the probable sale price


c) Net realised result on investment securities

The net realised result on investment securities is calculated on the basis of the average cost of the securities sold

BNP Paribas Plan


Page 30

d) Conversion of foreign currencies

The financial statements have been drawn up in the accounting currency of each sub-fund Assets and liabilities expressed

in currencies other than the accounting currency of each sub-fund are converted into that currency at the exchange rates

prevailing on the closing date Income and expenses expressed in currencies other than the accounting currency of the

sub-fund are converted into that currency at the exchange rates prevailing on the transaction date

The purchase price of securities purchased in a currency other than that of the sub-fund is converted into the currency of

the sub-fund on the basis of the exchange rates prevailing on the date of purchase of the securities

Realised exchange gains and losses are recognised in the statement of operations and changes in net assets in the caption

ldquoNet realised result on financial instrumentsrdquo

e) Valuation of futures contracts

Unexpired futures contracts are valued at the last price known on the valuation date or closing date and the resulting

unrealised gains or losses are accounted for

Margin accounts to guarantee the liabilities on futures contracts are included in the ldquoCash at banks and time depositsrdquo

account in the statement of net assets

f) Valuation of options

The liquidation value of options traded on stock markets is based on the closing prices published by the stock markets on which

the SICAV placed the contracts in question The liquidation value of options not traded on stock markets is determined in

accordance with the rules defined by the Board of Directors in accordance with uniform criteria for each category of contract

g) Income on investments

Dividends are recognized as income on the date they are declared and to the extent that the information in question can

be obtained by the Company Interests are accrued on a daily basis net of withholding tax

h) Valuation of credit default swaps

The value of a credit default swap shall be determined by comparing the value of the protection swap leg and the value

of the premium swap leg The value of the premium leg is obtained by discounting the future premium flows using the

relevant risk-adjusted discount The value of the protection leg is the present value of the expected loss inherent to the

contract Default probabilities used to compute the expected loss are derived from the structure of par market swap rates

Par market swap rates will be obtained from a cross-section of market counterparties

The valuation of the credit default swaps disclosed in the financial statements includes the accrued interests (ldquodirty pricerdquo)

i) Valuation of interest rate swaps

Interest rate swaps are valued on the basis of the difference between the value of all future interest payable by the

Company to its counterparty on the valuation date at the zero coupon swap rate corresponding to the maturity of these

payments and the value of all future interest payable by the counterparty to the Company on the valuation date at the zero

coupon swap rate corresponding to the maturity of these payments

The valuation of the interest rate swaps disclosed in the financial statements includes the accrued interests (ldquodirty pricerdquo)

j) Valuation of total return swaps

A total return swap (TRS) is a bilateral agreement in which each party agrees to exchange payments based on the

performance of an underlying instrument represented by a security commodity basket or index thereof for a fixed or

variable rate One party pays out the total return of a specific reference asset and in return receives a regular stream of

payments The total performance will include gains and losses on the underlying as well as any interest or dividends

during the contract period according to the type of underlying The cash flows to be exchanged are calculated by reference

to an agreed upon notional amount or quantity

Total return swaps are marked to market at each NAV calculation date

BNP Paribas Plan


Page 31

Note 3 - Management fees (maximum)

The management fee is calculated and deducted monthly from the average net assets of a sub-fund share category or

share class is paid to the Management Company and serves to cover remuneration of the asset managers and also

distributors in connection with the marketing of the Companys shares

A sub-fund may not invest in a UCITS or other UCI (underlying) with a management fee exceeding 300 per annum

No management fees is applied to the ldquoXrdquo class

Sub-fund Classic Privilege I

Easy Future 2021 to 2023 075 040 NA

Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA

International Derivatives 200 NA 100

Pension Return NA 075 060

(1) Decreased to 075 when the remaining time to the Maturity Date is less than 5 years


(3) Decreased to 125 when the remaining time to the Maturity Date is less than 10 years and 075 when the remaining time to the Maturity Date

is less than 5 years



An indirect fee (ongoing charges incurred in underlying UCITS andor UCIs the Company is invested in) of maximum

100 can be supported by the sub-funds

Note 4 - Other fees

The other fees are calculated and deducted monthly from the average net assets of a sub-fund share category or share

class and serve to cover general custody assets expenses (remuneration of the Depositary) and daily administration

expenses (NAV calculation remuneration of the Guarantor (for ldquoEasy Futurerdquo sub-funds) record and book keeping

notices to the shareholders providing and printing the documents legally required for the shareholders domiciliation

auditors cost and fees) except for brokerage fees commissions for transactions not related to the deposit director fees

interest and bank fees extraordinary expenses reporting cost in relation with regulation requirements including the

European Market Infrastructure Regulation (EMIR) and the ldquotaxe drsquoabonnementrdquo in force in Luxembourg as well as any

other specific foreign tax and other regulators levy

Note 5 - Taxes

The SICAV is subject in the Grand Duchy of Luxembourg to an annual subscription tax ldquotaxe drsquoabonnementrdquo

representing 005 of the value of the net assets This rate is reduced to 001 for the following

a) sub-funds with the exclusive objective of collective investments in money market instruments and deposits with credit

institutions

b) sub-funds with the exclusive objective of collective investments with credit institutions

c) sub-funds categories or classes reserved for Institutional Investors Managers and UCIs

The following are exempt from this ldquotaxe drsquoabonnementrdquo

a) the value of assets represented by units or shares in other UCIs provided that these units or shares have already been

subject to the ldquotaxe drsquoabonnementrdquo

b) sub-funds share categories andor classes

(i) whose securities are reserved to Institutional Investors Managers or UCIs and

(ii) whose sole object is the collective investment in money market instruments and the placing of deposits with

credit institutions and

(iii) whose weighted residual portfolio maturity does not exceed 90 days and

(iv) that have obtained the highest possible rating from a recognised rating agency

BNP Paribas Plan


Page 32

c) sub-funds share categories andor classes reserved to

(i) institutions for occupational retirement pension or similar investment vehicles set up at the initiative of one or

more employers for the benefit of their employees and

(ii) companies having one or more employers investing funds to provide pension benefits to their employees

d) sub-funds whose main objective is investment in microfinance institutions

e) sub-funds shares categories andor classes

(i) whose securities are listed or traded on at least one stock exchange or another regulated market operating

regularly that is recognized and open to the public and

(ii) whose exclusive object is to replicate the performance of one or several indices

When due the ldquotaxe drsquoabonnementrdquo is payable quarterly based on the relevant net assets and calculated at the end of the

quarter for which it is applicable

In addition the Company may be subject to foreign UCIrsquos tax andor other regulatorsrsquo levy in the country where the

sub-fund is registered for distribution

Note 6 - Exchange rates

As at 31 October 2019 all sub-funds and share classes were denominated in EUR

Note 7 - Futures contracts

As at 31 October 2019 the following positions were outstanding

International Derivatives

Currency Quantity Purchase

Sale Description Maturity

Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)

AUD 112 P SampPASX 200 INDEX

(AS51) 19122019 11 479 421 (20 748)

CHF 90 P SMI SWISS MARKET

INDEX - FUTURE 20122019 8 346 369 209 293

EUR 21 P DAX INDEX - FUTURE 20122019 6 769 088 268 275

EUR 205 P EURO STOXX 50 -

FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)

HKD 77 P HANG SENG INDEX 28112019 11 880 971 86 738

JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405

USD 51 P SampP 500 FUTURE 19122019 34 694 080 251 423

EUR 103 P CAC40 EURO FUTURE 15112019 5 898 810 102 485

Total 2 139 338

As at 31 October 2019 the cash margin balance in relation to futures andor options amounted to 3 415 795 EUR

Broker for futures contracts

BNP Paribas Securities Services Paris

Note 8 - Swaps contracts

As at 31 October 2019 the Company was engaged in the following swaps contracts

Credit Default Swaps (CDS)

The Company has entered into credit default swap agreements whereby it exchanges fixed income for income linked to

changes in credit events whether with respect to an index or a bond (see details in the table below) and vice versa These

amounts are calculated and recognised at each calculation of the Net Asset Value the amount of the unrealised capital

gain is stated under ldquoNet Unrealised gain on financial instrumentsrdquo in the Statement of net assets and the amount of net

capital loss is given under ldquoNet Unrealised loss on financial instrumentsrdquo in the Statement of net assets

BNP Paribas Plan


Page 33

Easy Future 2023

Nominal Currency Maturity Sub-fund paid Sub-fund received

10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100

Net unrealised gain (in EUR) 291 945

Interest Rate Swaps (IRS)

The Company has entered into interest rate swap agreements whereby it exchanges fixed income (sum of the notional

amount and the fixed rate) for variable income (sum of the notional amount and the floating rate) and vice versa These

amounts are calculated and recognised at each calculation of the Net Asset Value the amount of the net unrealised

gain(loss) is included under the ldquoNet unrealised gain on financial instrumentsrdquo or ldquoNet unrealised loss on financial

instrumentsrdquo captions in the Statement of net assets

Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590

Net unrealised gain (in EUR) 3 385 100

Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380


Total return swaps (TRS)

The Company entered into swaps contracts whereby it exchanges the performance of funding funds (as described below)

against the total performance of a basket of funds (the ldquounderlying basketrdquo) (as described below) or the performance of

a basket shares against a fixed or floating rate The total performance includes the gain or loss generated by the underlying

basket These amounts are calculated and recognised when the net asset value is calculated

For the sub-funds Easy Future 2028 to 2043 the swaps contracts embedded a dynamic asset allocation strategy (Constant

Proportion Portfolio Insurance or ldquoCPPIrdquo) which actively allocates between 2 assets classes (riskless assets and risky

assets) aiming to protect capital at maturity

The amount of the net unrealised gain(loss) is included under the ldquoNet unrealised gain on financial instrumentsrdquo or ldquoNet

unrealised loss on financial instrumentsrdquo captions in the Statement of net assets

Easy Future 2021

Nominal of net assets

engaged Counterparty Currency Maturity Sub-fund paid Sub-fund received

6 800 000 8419 BNP PARIBAS

PARIS FRANCE EUR 29102021

PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34

The basket of shares consists of the following

ADIDAS AG DEUTSCHE LUFTHANSA

- REG KONINKLIJKE KPN NV

AIRBUS SE DEUTSCHE POST AG - REG KONINKLIJKE PHILIPS NV

ALLIANZ SE - REG DEUTSCHE TELEKOM AG

- REG

MUENCHENER

RUECKVERSICHERUNG AG

- REG

BASF SE EON SE SAP SE

BAYERISCHE MOTOREN

WERKE AG FRESENIUS SE amp CO KGAA UCB SA

CAIXABANK ING GROEP NV WOLTERS KLUWER

DEUTSCHE BOERSE AG KONINKLIJKE AHOLD

DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)


AIR LIQUIDE SA ENGIE SANOFI AVENTIS

ALLIANZ SE - REG ESSILORLUXOTTICA SAP SE

AXA SA KERING SCHNEIDER ELECTRIC SE

BASF SE KONINKLIJKE PHILIPS NV SOCIETE GENERALE SA

BNP PARIBAS LOREAL TOTAL SA

BOUYGUES SA LVMH VEOLIA ENVIRONNEMENT

COMPAGNIE DE SAINT

GOBAIN ORANGE VINCI SA

CREDIT AGRICOLE SA PERNOD RICARD SA VIVENDI

DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35


AIR LIQUIDE SA ENGIE SCHNEIDER ELECTRIC SE

AIRBUS SE ESSILORLUXOTTICA SOCIETE GENERALE SA

ALLIANZ SE - REG LOREAL TOTAL SA

AXA SA LVMH VEOLIA ENVIRONNEMENT

CREDIT AGRICOLE SA ORANGE VINCI SA

DANONE SAFRAN SA VIVENDI

DEUTSCHE TELEKOM AG

- REG SANOFI AVENTIS

Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)


ACCOR SA ESSILORLUXOTTICA PUBLICIS GROUPE

AXA SA KERING RENAULT SA

BOUYGUES SA LEGRAND SA SCOR SE

CAPGEMINI SE MICHELIN (CGDE) SOCIETE GENERALE SA

CARREFOUR SA ORANGE SODEXO SA

CREDIT AGRICOLE SA PERNOD RICARD SA TOTAL SA

ENGIE PEUGEOT SA

Easy Future 2033



872 300 6778 BNP PARIBAS


Performance of the

funding funds Performance of the basket fund

Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36

The funding funds consist of the following BNP Paribas Group funds

BNP PARIBAS CASH INVEST BNP PARIBAS INVEST 3 MOIS THEAM I KLE GESTION

EURIBOR 2

BNP PARIBAS INSTICASH EUR

1D SHORT TERM VNAV BNP PARIBAS MOIS ISR

The basket fund consists of the following BNP Paribas Group funds

BNP PARIBAS CASH INVEST BNP PARIBAS MOIS ISR THEAM I KLE GESTION

EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS

Absolute Return Multi Strategy

BNP PARIBAS INVEST 3 MOIS PARWORLD Multi-Asset

Booster

Counterparties to swaps contracts

BNP Paribas Paris

JP Morgan London

JP Morgan Securities Limited

Note 9 - Options positions

For options contracts with the same Description Currency Maturity Date Strike and Counterparty the positions are

consolidated In this context the optionsrsquo quantities can be 0

As at 31 October 2019 the following positions on options were outstanding



Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)

JPY 64 P PUT NIKKEI 225 (OSE)

08112019 16250 08112019 16 250000 8 623 023 531

EUR 100 P PUT DAX INDEX -

OPTION 15112019 9550 15112019 9 550000 4 775 000 50

EUR 100 P PUT CAC 40 INDEX

15112019 4400 15112019 4 400000 4 400 000 80

EUR 203 P PUT EURO STOXX 50 -

OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175

CHF 83 P PUT SMI OPTIONS

15112019 8300 15112019 8 300000 6 257 892 151

GBP 101 P PUT FTSE 100 INDEX

15112019 5400 15112019 5 400000 6 326 045 0

USD 135 P PUT SampP 500 INDEX -

SPX 15112019 2250 15112019 2 250000 27 226 281 847

HKD 72 P PUT HANG SENG INDEX

28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37

Note 10 - Changes in the composition of the securities portfolio

The list of changes in the composition of the securities portfolio is available free of charge at the Management Companyrsquos

registered office and from local agents

Note 11 - Transaction fees

Transaction fees incurred by the Company relating to purchase or sale of transferable securities money market

instruments derivatives or other eligible assets are mainly composed of standard fees sundry fees on transaction stamp

fees brokerage fees custody fees VAT fees stock exchange fees and RTO (Reception and Transmission of Orders) fees

In line with bond market practice a bid-offer spread is applied when buying or selling these securities Consequently in

any given transaction there will be a difference between the purchase and sale prices quoted by the broker which

represents the brokerrsquos remuneration

Note 12 - Global overview of collateral

As at 31 October 2019 the Company pledged the following collateral in favour of the swap contracts counterparties

Sub-fund Currency OTC

collateral Type of collateral

Easy Future 2021 EUR 380 000 Cash


As at 31 October 2019 the counterparties to the swap contracts immobilised the following collateral in favour of the

Company



Easy Future 2023 EUR 2 420 000 Cash

Easy Future 2033 EUR 435 326 FR0000571150 - FRANCE OAT 6000 25102025

NL0000102234 - NETHERLANDS GOVERNMENT 4000 15012037



Easy Future 2043 EUR 371 695 NL0011896857 - NETHERLANDS GOVERNMENT 0000 15012022

Note 13 - List of Investment managers

bull BNP PARIBAS ASSET MANAGEMENT Belgium abbreviated to BNPP AM BE

bull BNP PARIBAS ASSET MANAGEMENT France abbreviated to BNPP AM France

bull BNP PARIBAS ASSET MANAGEMENT UK Ltd abbreviated to BNPP AM UK

Sub-fund Investment managers

Easy Future 2021 to 2043 BNPP AM France

Pension Return BNPP AM BE

International Derivatives BNPP AM France

Subdelegating to BNPP AM UK for the FX Management and Cash management

Note 14 ndash Subsequent events

bull The sub-funds Easy Future 2021 2023 2026 2028 2033 2038 and 2043 are closed as from 15 November 2019

(valuation day) to new investors subscription and conversion-in (soft closure)

bull Liquidation of the sub-funds Easy Future 2021 2028 2033 2038 2043 on 7 February 2020 Shareholders will be

reimbursed on 13 February 2020

BNP Paribas Plan

Unaudited appendix

Page 38

Global market risk exposure

The Management Company of the SICAV after a risk profile assessment decided between the commitment approach

and the VaR (99 1 Month) to determine the global market risk exposure

The VaR limit use (minimum maximum and average) is calculated by dividing the Daily VaR by the daily VaR limit

(20 for absolute return VaR sub-funds and 2 times benchmark VaR for relative VaR sub-funds)

Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year

Easy Future 2021 Absolute

VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176

The commitment approach is used for the sub-fund Pension Return

When calculating global exposure using the commitment approach duration netting rules have been taken into account

to reduce the global exposure as defined in the Committee of European Securities Regulators (ldquoCESRrdquo)rsquos guidelines

Statistics

Representation of the net asset value per share in base currency

Sub-funds Currency 31102017 31102018 31102019 Guaranteed Value at Maturity

Easy Future 2021 - Classic EUR 11400 11261 11296 10868

Easy Future 2021 - Privilege EUR 11248 11149 11223 10868

Easy Future 2023 - Classic EUR 12006 11629 11857 11427(1)

Easy Future 2023 - Privilege EUR 11771 11492 11783 11427(1)








BNP Paribas Plan

Unaudited appendix

Page 39





(1) The Board of Directors decided as authorised by the Prospectus not to increase the current Guaranteed Value after

the NAV dated 12 September 2019 until further resolution


the NAV dated 28 August 2019 until further resolution

Remuneration policy

Below are the quantitative information on remuneration as required by Article 22 of the AIFM directive

(Directive 2011 61 EC of 8 June 2011) and by Article 69 (3) of the UCITS V directive (Directive 201491EU

of 23 July 2014) in a format compliant with the recommendations of the AFG (French Asset Management

Association)1

Aggregate quantitative information for members of staff of BNP PARIBAS ASSET MANAGEMENT

Luxembourg (ldquoBNPP AM Luxembourgrdquo) (art 22-2-e of AIFM directive and art 69-3 (a) of the UCITS V

directive)

Business Area Number of Staff Total Remuneration (K EUR)

(fixed + variable)

Of which total variable

remuneration (K EUR)

All staff of BNPP AM Luxembourg 84 8 242 1 080

Aggregate quantitative information for members of staff whose actions have a material impact on the risk profile

of the firm and who are indeed ldquoIdentified Staffrdquo2 (art 22-2-f of AIFM directive and art 69-3 (b) of the UCITS V

directive)


Identified Staff of BNPP AM Luxembourg 5 946

Of which AIF UCITS and European mandates Portfolio managers 0 0

Other information about BNPP AM Luxembourg

ndash Number of AIF and UCITS Funds under management

Number of sub-funds (31122018) AuM (billion Eur) (31122018)3

UCITS 210 762

AIFs 22 27

1 NB 1 The remuneration amounts above are not directly reconcilable with the accounting data of the year as they reflect the amounts allocated at the closing in May 2018 of

the annual compensation review process (CRP) based on the scope of employees as at 31 October 2017 Thus for example these amounts include all variable remuneration

awarded during this CRP whether this variable remuneration is deferred or not and whether the employees ultimately remained in the company or not

NB 2 As a reminder level 3 of UCITS V regulation (eg minimum deferred etchellip) was published in March 2016 and applies for the first time in performance year 2017 ie

to variable remuneration that was awarded in March 2018 2 The identified staff is determined based on end of year review 3 The amounts indicated take into account the master-feeder funds

BNP Paribas Plan

Unaudited appendix

Page 40

ndash Under the supervision of the BNP PARIBAS ASSET MANAGEMENT Holdingrsquos remuneration committee and its

board of directors an independent and central audit of the Global BNP PARIBAS ASSET MANAGEMENT

remuneration policy and its implementation over the 20172018 financial year was conducted between May and

July 2018 The results of this audit which covered Fentities included in the integrated perimeter with an AIFM

andor UCITS licence was rated ldquoGenerally satisfactoryrdquo

Indeed no significant issues were found However in line with the BNP PARIBAS ASSET MANAGEMENTS

continuous improvement approach a recommendation was issued which aims to better align the deferred

compensation terms of an executive of BNP PARIBAS ASSET MANAGEMENT who is also subject to the

remuneration framework steaming from by the French transposition of EU Directive CRD IV

ndash In 2018 the remuneration policy was adapted under the supervision of French AMF regulatory authority and in

accordance with the requirements of the UCITS Directive to improve the alignment of interest of identified staff

through the award of new deferred instruments In particular the performance of the most representative funds of

BNP PARIBAS ASSET MANAGEMENT has an increased weight in these new instruments

ndash More information on the determination of the variable remuneration and in deferred instruments is set out in the

qualitative disclosure on the remuneration policy which is available on the website of the company

Regulation on transparency of Securities Financing Transactions and Reuse of

collateral (SFTR)

This collateral applies to all OTC activity of the Company There is no way to distinguish it upon type of instrument it

is related to

Easy Future 2021

Counterparty name Type Sub-fund

Currency

Market Value

(absolute value) Maturity

Safekeeping of collateral

received


granted Reinvestment

BNP PARIBAS Cash EUR 380 000 Less than

one day NA Pooled NA

Total

(absolute value) EUR 380 000

Easy Future 2023


Currency

Market Value



received



JP MORGAN AG Cash EUR 2 120 000 Less than

one day

BNP PARIBAS

SECURITIES SERVICES NA No

JP MORGAN

SECURITIES PLC Cash EUR 300 000

Less than

one day

BNP PARIBAS


Total

(absolute value) EUR 2 420 000

Easy Future 2026


Currency

Market Value



received



JP MORGAN AG Cash EUR 750 000 Less than


Total


Easy Future 2028

No collateral received or granted at year-end

BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033

Counterparty name Type Rating Sub-fund

Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2

(Moodys) EUR 137 594

Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS SECURITIES

SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other

collateral than cash

Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above

one year NETHERLANDS GOVERNMENT

BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281

Data on cost and return

There are no fee sharing arrangements on Total Return Swaps and 100 of the costsreturns generated are recognised in

the Companys statement of operations and changes in net assets

ADDITIONAL INFORMATION FOR INVESTORS IN THE FEDERAL REPUBLIC OF GERMANY

For the following sub-funds of BNP Paribas Plan no notification for distribution in the Federal Republic of Germany was submitted and shares in these sub-funds may NOT be offered to investors within the scope of the German investment law As a consequence the following sub-funds are NOT available to investors in Germany

BNP PARIBAS PLAN - PENSION RETURN BNP PARIBAS PLAN ndash EASY FUTURE 2021 BNP PARIBAS PLAN ndash EASY FUTURE 2028 BNP PARIBAS PLAN ndash EASY FUTURE 2033 BNP PARIBAS PLAN ndash EASY FUTURE 2038 BNP PARIBAS PLAN ndash EASY FUTURE 2043

BNP ASSET MANAGEMENT Belgium Zweigniederlassung Deutschland Europa-Allee 12 60327 Frankfurt am Main has undertaken the function of Information Agent in the Federal Republic of Germany (hereinafter the ldquoGerman Information Agentrdquo)

Applications for the redemptions and conversion of shares may be sent to BNP Paribas Securities Services Luxembourg Branch 60 Avenue J-F Kennedy L-1855 Luxembourg (hereinafter ldquothe Paying Agentrdquo)

All payments to investors including redemption proceeds and potential distributions may upon request be paid through the Paying Agent

The prospectus the key investor information documents the articles of association of the company and the annual and semi-annual reports may be obtained free of charge in hardcopy form at the office of the German Information Agent during normal opening hours

Issue redemption and conversion prices of shares and any other information to the shareholders are also available free of charge from the Paying Agent

No units of EU UCITS will be issued as printed individual certificates The issue redemption and conversion prices of shares are published on wwwbnpparibas-amde and any other information to the shareholders will be published in Germany in the Federal Gazette (ldquowwwbundesanzeigerderdquo) and on the website ldquowwwwmdatenderdquo except for the publications concerning the payment of dividends the exchange ratio and the convening notices to General Meeting which are available via the website In addition communications to investors in the Federal Republic of Germany will be by means of a durable medium (section 167 of the Investment Code) in the following cases

bull suspension of the redemption of the units bull termination of the management of the fund or its liquidation bull any amendments to the company rules which are inconstant with the previous investment principles which affect material investor

rights or which relate to remuneration and reimbursement of expenses that may be paid or made out of the asset pool bull merger of the fund with one or more other funds and bull the change of the fund into a feeder fund or the modification of a master fund

The asset managerfor a changing

world

The asset manager for a changing worldThe asset manager for a changing world

BNP Paribas Plan

Table of contents

Page

Page 1

Organisation 2

Information 3

Managers report 5





Easy Future 2021 19

Easy Future 2023 20

Easy Future 2026 21

Easy Future 2028 22

Easy Future 2033 23

Easy Future 2038 24

Easy Future 2043 25


Pension Return 27





BNP Paribas Plan

Organisation

Registered office


Board of Directors

Chairwoman


France Paris

Members







Company Secretary


Luxembourg

Management Company


of Luxembourg




marketing



Luxembourg





Kingdom


Depositary


Luxembourg

Independent Auditor


Guarantor


BNP Paribas Plan

Information

Page 3

Principal features






1 June 2010




































BNP Paribas Plan

Information

Page 4

Guarantee
















the Guarantor







c) Pension sub-fund




incurred






created

BNP Paribas Plan

Managers report

Page 5

Economic context


















United States
















Europe
















BNP Paribas Plan

Managers report

Page 6

Japan













United Kingdom












Emerging markets











BNP Paribas Plan

Managers report

Page 7

Monetary policy


















Council
















Currency markets












BNP Paribas Plan

Managers report

Page 8















Bond markets































BNP Paribas Plan

Managers report

Page 9

Equity markets




























Page 10


BNP Paribas Plan

Opinion









Basis for Opinion










Other information












Page 11



























internal control

















presentation





~CKS


Page 12

Page 13

BNP Paribas Plan



Page 14




Assets 0 8 596 453 126 344 596 23 089 484



Liabilities 0 519 462 2 059 769 1 180 478


Net asset value 0 8 076 991 124 284 827 21 909 006


assets



Total expenses 0 69 324 2 290 478 559 832






gain(loss) on





the yearperiod (1 204 844) (1 154 515) (120 425 554) (17 153 609)




yearperiod 0 8 076 991 124 284 827 21 909 006

BNP Paribas Plan


Page 15




1 602 310 1 289 800 1 476 477 799 073 60 757 714 1 899 232

1 342 372 844 761 852 563 371 903 49 936 244 1 370 302 765 (1 133) (1 122) 823 (16 316) 527 561

1 343 137 843 628 851 441 372 726 49 919 928 1 897 863

0 0 0 0 2 449 0

28 152 424 562 566 259 360 880 2 139 338 0

229 784 19 475 54 787 59 140 8 694 054 1 369

1 237 2 135 3 990 6 327 1 945 0

2 462 2 830 2 926 2 906 979 454 323

0 0 0 0 921 671 0

0 0 0 0 0 0

2 462 2 830 2 926 2 906 57 783 323

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

331 1 504 2 486 3 457 57 926 0

21 542 43 863 47 987 40 833 548 004 2 307

836 2 766 3 179 3 974 13 940 6

6 895 7 966 8 618 8 237 27 400 1 242

1 246 3 851 4 222 4 004 8 783 32

5 287 0 0 0 44 218 13

35 806 58 446 64 006 57 048 642 345 3 600

(35 475) (56 942) (61 520) (53 591) (584 419) (3 600)

12 197 (2 183) (2 586) (5 469) (12 453) 8 725

1 269 925 1 453 074 1 782 846 2 403 618 4 202 484 (20)

1 246 647 1 393 949 1 718 740 2 344 558 3 605 612 5 105

(5 481) (7 600) (7 409) (3 195) (15 481) 225 257

(1 150 141) (996 002) (1 255 497) (1 545 456) 5 252 340 0

91 025 390 347 455 834 795 907 8 842 471 230 362

(3 618 687) (4 001 375) (4 218 052) (4 915 948) 9 598 196 (47 113)

(3 527 662) (3 611 028) (3 762 218) (4 120 041) 18 440 667 183 249

5 127 510 4 897 998 5 235 769 4 916 208 41 337 593 1 715 660

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

BNP Paribas Plan



Page 16

Consolidated

Expressed in EUR


Assets 225 855 139





















BNP Paribas Plan



Page 17


31102017 31102018 31102019 31102019

Net assets 1 495 098 1 204 844 0




31102017 31102018 31102019 31102019

Net assets 10 364 899 9 231 506 8 076 991




31102017 31102018 31102019 31102019

Net assets 430 486 852 244 710 381 124 284 827




31102017 31102018 31102019 31102019

Net assets 60 177 916 39 062 615 21 909 006




31102017 31102018 31102019 31102019

Net assets 5 364 799 5 127 510 1 599 848




31102017 31102018 31102019 31102019

Net assets 5 070 980 4 897 998 1 286 970





31102017 31102018 31102019 31102019

Net assets 5 385 036 5 235 769 1 473 551



BNP Paribas Plan



Page 18


31102017 31102018 31102019 31102019

Net assets 5 202 773 4 916 208 796 167





31102017 31102018 31102019 31102019

Net assets 78 097 844 41 337 593 59 778 260




31102017 31102018 31102019 31102019

Net assets 1 947 051 1 715 660 1 898 909





Page 19


assets



Shares 7 659 705 9483

Germany 4 605 763 5701

1 336 ADIDAS AG EUR 369 872 458


5 420 BASF SE EUR 369 807 458






56 182 EON SE EUR 507 716 629



3 232 SAP SE EUR 383 962 475


40 900 ING GROEP NV EUR 414 235 513





Belgium 447 723 554

6 196 UCB SA EUR 447 723 554

France 380 380 471

2 962 AIRBUS SE EUR 380 380 471

Spain 320 284 397

124 867 CAIXABANK EUR 320 284 397

Bonds 405 032 501

France 405 032 501










Page 20


assets



Shares 112 497 521 9052

France 110 131 361 8861


353 061 AXA SA EUR 8 362 250 673

107 919 BNP PARIBAS EUR 5 051 688 406

47 287 BOUYGUES SA EUR 1 796 906 145



52 398 DANONE EUR 3 896 315 313

321 954 ENGIE EUR 4 827 700 388


8 601 KERING EUR 4 388 230 353

10 410 LOREAL EUR 2 725 338 219

16 127 LVMH EUR 6 168 578 496

352 343 ORANGE EUR 5 087 833 409


73 522 RENAULT SA EUR 3 364 367 271

47 551 SAFRAN SA EUR 6 745 109 543




187 230 TOTAL SA EUR 8 825 086 710


59 890 VINCI SA EUR 6 024 934 485

196 155 VIVENDI EUR 4 896 029 394

Germany 1 939 413 157


5 938 BASF SE EUR 405 150 033


3 050 SAP SE EUR 362 340 029



Bonds 6 281 372 505

France 6 281 372 505

5 650 000 BNP PARIBAS 2875 13-26092023 EUR 6 281 372 505


France 3 002 988 242






Page 21


assets



Shares 21 114 236 9637

France 19 767 682 9022


6 115 AIRBUS SE EUR 785 288 358

43 075 AXA SA EUR 1 020 231 466


20 995 DANONE EUR 1 561 188 713

68 136 ENGIE EUR 1 021 699 466


4 167 LOREAL EUR 1 090 921 498

2 706 LVMH EUR 1 035 045 472

78 616 ORANGE EUR 1 135 215 518

4 479 SAFRAN SA EUR 635 346 290




43 000 TOTAL SA EUR 2 026 805 924


15 328 VINCI SA EUR 1 541 997 704

41 069 VIVENDI EUR 1 025 082 468

Germany 1 346 554 615











Page 22


assets



Shares 1 292 618 8079

France 1 292 618 8079

1 637 ACCOR SA EUR 63 057 394

2 692 AXA SA EUR 63 760 399





6 800 ENGIE EUR 101 966 637


114 KERING EUR 58 163 364



4 968 ORANGE EUR 71 738 448


3 192 PEUGEOT SA EUR 72 458 453


1 086 RENAULT SA EUR 49 695 311

1 463 SCOR SE EUR 55 272 345


540 SODEXO SA EUR 53 244 333

958 TOTAL SA EUR 45 155 282









Page 23


assets


France 697 093 5416











Page 24


assets


France 678 173 4602











Page 25


assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan

Table of contents

Page

Page 1

Organisation 2

Information 3

Managers report 5





Easy Future 2021 19

Easy Future 2023 20

Easy Future 2026 21

Easy Future 2028 22

Easy Future 2033 23

Easy Future 2038 24

Easy Future 2043 25


Pension Return 27





BNP Paribas Plan

Organisation

Page 2

Registered office


Board of Directors

Chairwoman


France Paris

Members







Company Secretary


Luxembourg

Management Company


of Luxembourg




marketing



Luxembourg





Kingdom


Depositary


Luxembourg

Independent Auditor


Guarantor


BNP Paribas Plan

Information

Principal features






1 June 2010




































BNP Paribas Plan

Information

Page 4

Guarantee
















the Guarantor







c) Pension sub-fund




incurred






created

BNP Paribas Plan

Managers report

Page 5

Economic context


















United States
















Europe
















BNP Paribas Plan

Managers report

Page 6

Japan













United Kingdom












Emerging markets











BNP Paribas Plan

Managers report

Page 7

Monetary policy


















Council
















Currency markets












BNP Paribas Plan

Managers report

Page 8















Bond markets































BNP Paribas Plan

Managers report

Page 9

Equity markets




























Page 10


BNP Paribas Plan

Opinion









Basis for Opinion










Other information












Page 11



























internal control

















presentation





~CKS


Page 12

Page 13

BNP Paribas Plan



Page 14




Assets 0 8 596 453 126 344 596 23 089 484



Liabilities 0 519 462 2 059 769 1 180 478


Net asset value 0 8 076 991 124 284 827 21 909 006


assets



Total expenses 0 69 324 2 290 478 559 832






gain(loss) on





the yearperiod (1 204 844) (1 154 515) (120 425 554) (17 153 609)




yearperiod 0 8 076 991 124 284 827 21 909 006

BNP Paribas Plan


Page 15




1 602 310 1 289 800 1 476 477 799 073 60 757 714 1 899 232

1 342 372 844 761 852 563 371 903 49 936 244 1 370 302 765 (1 133) (1 122) 823 (16 316) 527 561

1 343 137 843 628 851 441 372 726 49 919 928 1 897 863

0 0 0 0 2 449 0

28 152 424 562 566 259 360 880 2 139 338 0

229 784 19 475 54 787 59 140 8 694 054 1 369

1 237 2 135 3 990 6 327 1 945 0

2 462 2 830 2 926 2 906 979 454 323

0 0 0 0 921 671 0

0 0 0 0 0 0

2 462 2 830 2 926 2 906 57 783 323

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

331 1 504 2 486 3 457 57 926 0

21 542 43 863 47 987 40 833 548 004 2 307

836 2 766 3 179 3 974 13 940 6

6 895 7 966 8 618 8 237 27 400 1 242

1 246 3 851 4 222 4 004 8 783 32

5 287 0 0 0 44 218 13

35 806 58 446 64 006 57 048 642 345 3 600

(35 475) (56 942) (61 520) (53 591) (584 419) (3 600)

12 197 (2 183) (2 586) (5 469) (12 453) 8 725

1 269 925 1 453 074 1 782 846 2 403 618 4 202 484 (20)

1 246 647 1 393 949 1 718 740 2 344 558 3 605 612 5 105

(5 481) (7 600) (7 409) (3 195) (15 481) 225 257

(1 150 141) (996 002) (1 255 497) (1 545 456) 5 252 340 0

91 025 390 347 455 834 795 907 8 842 471 230 362

(3 618 687) (4 001 375) (4 218 052) (4 915 948) 9 598 196 (47 113)

(3 527 662) (3 611 028) (3 762 218) (4 120 041) 18 440 667 183 249

5 127 510 4 897 998 5 235 769 4 916 208 41 337 593 1 715 660

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

BNP Paribas Plan



Page 16

Consolidated

Expressed in EUR


Assets 225 855 139





















BNP Paribas Plan



Page 17


31102017 31102018 31102019 31102019

Net assets 1 495 098 1 204 844 0




31102017 31102018 31102019 31102019

Net assets 10 364 899 9 231 506 8 076 991




31102017 31102018 31102019 31102019

Net assets 430 486 852 244 710 381 124 284 827




31102017 31102018 31102019 31102019

Net assets 60 177 916 39 062 615 21 909 006




31102017 31102018 31102019 31102019

Net assets 5 364 799 5 127 510 1 599 848




31102017 31102018 31102019 31102019

Net assets 5 070 980 4 897 998 1 286 970





31102017 31102018 31102019 31102019

Net assets 5 385 036 5 235 769 1 473 551



BNP Paribas Plan



Page 18


31102017 31102018 31102019 31102019

Net assets 5 202 773 4 916 208 796 167





31102017 31102018 31102019 31102019

Net assets 78 097 844 41 337 593 59 778 260




31102017 31102018 31102019 31102019

Net assets 1 947 051 1 715 660 1 898 909





Page 19


assets



Shares 7 659 705 9483

Germany 4 605 763 5701

1 336 ADIDAS AG EUR 369 872 458


5 420 BASF SE EUR 369 807 458






56 182 EON SE EUR 507 716 629



3 232 SAP SE EUR 383 962 475


40 900 ING GROEP NV EUR 414 235 513





Belgium 447 723 554

6 196 UCB SA EUR 447 723 554

France 380 380 471

2 962 AIRBUS SE EUR 380 380 471

Spain 320 284 397

124 867 CAIXABANK EUR 320 284 397

Bonds 405 032 501

France 405 032 501










Page 20


assets



Shares 112 497 521 9052

France 110 131 361 8861


353 061 AXA SA EUR 8 362 250 673

107 919 BNP PARIBAS EUR 5 051 688 406

47 287 BOUYGUES SA EUR 1 796 906 145



52 398 DANONE EUR 3 896 315 313

321 954 ENGIE EUR 4 827 700 388


8 601 KERING EUR 4 388 230 353

10 410 LOREAL EUR 2 725 338 219

16 127 LVMH EUR 6 168 578 496

352 343 ORANGE EUR 5 087 833 409


73 522 RENAULT SA EUR 3 364 367 271

47 551 SAFRAN SA EUR 6 745 109 543




187 230 TOTAL SA EUR 8 825 086 710


59 890 VINCI SA EUR 6 024 934 485

196 155 VIVENDI EUR 4 896 029 394

Germany 1 939 413 157


5 938 BASF SE EUR 405 150 033


3 050 SAP SE EUR 362 340 029



Bonds 6 281 372 505

France 6 281 372 505

5 650 000 BNP PARIBAS 2875 13-26092023 EUR 6 281 372 505


France 3 002 988 242






Page 21


assets



Shares 21 114 236 9637

France 19 767 682 9022


6 115 AIRBUS SE EUR 785 288 358

43 075 AXA SA EUR 1 020 231 466


20 995 DANONE EUR 1 561 188 713

68 136 ENGIE EUR 1 021 699 466


4 167 LOREAL EUR 1 090 921 498

2 706 LVMH EUR 1 035 045 472

78 616 ORANGE EUR 1 135 215 518

4 479 SAFRAN SA EUR 635 346 290




43 000 TOTAL SA EUR 2 026 805 924


15 328 VINCI SA EUR 1 541 997 704

41 069 VIVENDI EUR 1 025 082 468

Germany 1 346 554 615











Page 22


assets



Shares 1 292 618 8079

France 1 292 618 8079

1 637 ACCOR SA EUR 63 057 394

2 692 AXA SA EUR 63 760 399





6 800 ENGIE EUR 101 966 637


114 KERING EUR 58 163 364



4 968 ORANGE EUR 71 738 448


3 192 PEUGEOT SA EUR 72 458 453


1 086 RENAULT SA EUR 49 695 311

1 463 SCOR SE EUR 55 272 345


540 SODEXO SA EUR 53 244 333

958 TOTAL SA EUR 45 155 282









Page 23


assets


France 697 093 5416











Page 24


assets


France 678 173 4602











Page 25


assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan

Organisation

Page 2

Registered office


Board of Directors

Chairwoman


France Paris

Members







Company Secretary


Luxembourg

Management Company


of Luxembourg




marketing



Luxembourg





Kingdom


Depositary


Luxembourg

Independent Auditor


Guarantor


BNP Paribas Plan

Information

Page 3

Principal features






1 June 2010




































BNP Paribas Plan

Information

Guarantee
















the Guarantor







c) Pension sub-fund




incurred






created

BNP Paribas Plan

Managers report

Page 5

Economic context


















United States
















Europe
















BNP Paribas Plan

Managers report

Page 6

Japan













United Kingdom












Emerging markets











BNP Paribas Plan

Managers report

Page 7

Monetary policy


















Council
















Currency markets












BNP Paribas Plan

Managers report

Page 8















Bond markets































BNP Paribas Plan

Managers report

Page 9

Equity markets




























Page 10


BNP Paribas Plan

Opinion









Basis for Opinion










Other information












Page 11



























internal control

















presentation





~CKS


Page 12

Page 13

BNP Paribas Plan



Page 14




Assets 0 8 596 453 126 344 596 23 089 484



Liabilities 0 519 462 2 059 769 1 180 478


Net asset value 0 8 076 991 124 284 827 21 909 006


assets



Total expenses 0 69 324 2 290 478 559 832






gain(loss) on





the yearperiod (1 204 844) (1 154 515) (120 425 554) (17 153 609)




yearperiod 0 8 076 991 124 284 827 21 909 006

BNP Paribas Plan


Page 15




1 602 310 1 289 800 1 476 477 799 073 60 757 714 1 899 232

1 342 372 844 761 852 563 371 903 49 936 244 1 370 302 765 (1 133) (1 122) 823 (16 316) 527 561

1 343 137 843 628 851 441 372 726 49 919 928 1 897 863

0 0 0 0 2 449 0

28 152 424 562 566 259 360 880 2 139 338 0

229 784 19 475 54 787 59 140 8 694 054 1 369

1 237 2 135 3 990 6 327 1 945 0

2 462 2 830 2 926 2 906 979 454 323

0 0 0 0 921 671 0

0 0 0 0 0 0

2 462 2 830 2 926 2 906 57 783 323

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

331 1 504 2 486 3 457 57 926 0

21 542 43 863 47 987 40 833 548 004 2 307

836 2 766 3 179 3 974 13 940 6

6 895 7 966 8 618 8 237 27 400 1 242

1 246 3 851 4 222 4 004 8 783 32

5 287 0 0 0 44 218 13

35 806 58 446 64 006 57 048 642 345 3 600

(35 475) (56 942) (61 520) (53 591) (584 419) (3 600)

12 197 (2 183) (2 586) (5 469) (12 453) 8 725

1 269 925 1 453 074 1 782 846 2 403 618 4 202 484 (20)

1 246 647 1 393 949 1 718 740 2 344 558 3 605 612 5 105

(5 481) (7 600) (7 409) (3 195) (15 481) 225 257

(1 150 141) (996 002) (1 255 497) (1 545 456) 5 252 340 0

91 025 390 347 455 834 795 907 8 842 471 230 362

(3 618 687) (4 001 375) (4 218 052) (4 915 948) 9 598 196 (47 113)

(3 527 662) (3 611 028) (3 762 218) (4 120 041) 18 440 667 183 249

5 127 510 4 897 998 5 235 769 4 916 208 41 337 593 1 715 660

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

BNP Paribas Plan



Page 16

Consolidated

Expressed in EUR


Assets 225 855 139





















BNP Paribas Plan



Page 17


31102017 31102018 31102019 31102019

Net assets 1 495 098 1 204 844 0




31102017 31102018 31102019 31102019

Net assets 10 364 899 9 231 506 8 076 991




31102017 31102018 31102019 31102019

Net assets 430 486 852 244 710 381 124 284 827




31102017 31102018 31102019 31102019

Net assets 60 177 916 39 062 615 21 909 006




31102017 31102018 31102019 31102019

Net assets 5 364 799 5 127 510 1 599 848




31102017 31102018 31102019 31102019

Net assets 5 070 980 4 897 998 1 286 970





31102017 31102018 31102019 31102019

Net assets 5 385 036 5 235 769 1 473 551



BNP Paribas Plan



Page 18


31102017 31102018 31102019 31102019

Net assets 5 202 773 4 916 208 796 167





31102017 31102018 31102019 31102019

Net assets 78 097 844 41 337 593 59 778 260




31102017 31102018 31102019 31102019

Net assets 1 947 051 1 715 660 1 898 909





Page 19


assets



Shares 7 659 705 9483

Germany 4 605 763 5701

1 336 ADIDAS AG EUR 369 872 458


5 420 BASF SE EUR 369 807 458






56 182 EON SE EUR 507 716 629



3 232 SAP SE EUR 383 962 475


40 900 ING GROEP NV EUR 414 235 513





Belgium 447 723 554

6 196 UCB SA EUR 447 723 554

France 380 380 471

2 962 AIRBUS SE EUR 380 380 471

Spain 320 284 397

124 867 CAIXABANK EUR 320 284 397

Bonds 405 032 501

France 405 032 501










Page 20


assets



Shares 112 497 521 9052

France 110 131 361 8861


353 061 AXA SA EUR 8 362 250 673

107 919 BNP PARIBAS EUR 5 051 688 406

47 287 BOUYGUES SA EUR 1 796 906 145



52 398 DANONE EUR 3 896 315 313

321 954 ENGIE EUR 4 827 700 388


8 601 KERING EUR 4 388 230 353

10 410 LOREAL EUR 2 725 338 219

16 127 LVMH EUR 6 168 578 496

352 343 ORANGE EUR 5 087 833 409


73 522 RENAULT SA EUR 3 364 367 271

47 551 SAFRAN SA EUR 6 745 109 543




187 230 TOTAL SA EUR 8 825 086 710


59 890 VINCI SA EUR 6 024 934 485

196 155 VIVENDI EUR 4 896 029 394

Germany 1 939 413 157


5 938 BASF SE EUR 405 150 033


3 050 SAP SE EUR 362 340 029



Bonds 6 281 372 505

France 6 281 372 505

5 650 000 BNP PARIBAS 2875 13-26092023 EUR 6 281 372 505


France 3 002 988 242






Page 21


assets



Shares 21 114 236 9637

France 19 767 682 9022


6 115 AIRBUS SE EUR 785 288 358

43 075 AXA SA EUR 1 020 231 466


20 995 DANONE EUR 1 561 188 713

68 136 ENGIE EUR 1 021 699 466


4 167 LOREAL EUR 1 090 921 498

2 706 LVMH EUR 1 035 045 472

78 616 ORANGE EUR 1 135 215 518

4 479 SAFRAN SA EUR 635 346 290




43 000 TOTAL SA EUR 2 026 805 924


15 328 VINCI SA EUR 1 541 997 704

41 069 VIVENDI EUR 1 025 082 468

Germany 1 346 554 615











Page 22


assets



Shares 1 292 618 8079

France 1 292 618 8079

1 637 ACCOR SA EUR 63 057 394

2 692 AXA SA EUR 63 760 399





6 800 ENGIE EUR 101 966 637


114 KERING EUR 58 163 364



4 968 ORANGE EUR 71 738 448


3 192 PEUGEOT SA EUR 72 458 453


1 086 RENAULT SA EUR 49 695 311

1 463 SCOR SE EUR 55 272 345


540 SODEXO SA EUR 53 244 333

958 TOTAL SA EUR 45 155 282









Page 23


assets


France 697 093 5416











Page 24


assets


France 678 173 4602











Page 25


assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan

Information

Page 3

Principal features






1 June 2010




































BNP Paribas Plan

Information

Page 4

Guarantee
















the Guarantor







c) Pension sub-fund




incurred






created

BNP Paribas Plan

Managers report

Economic context


















United States
















Europe
















BNP Paribas Plan

Managers report

Page 6

Japan













United Kingdom












Emerging markets











BNP Paribas Plan

Managers report

Page 7

Monetary policy


















Council
















Currency markets












BNP Paribas Plan

Managers report

Page 8















Bond markets































BNP Paribas Plan

Managers report

Page 9

Equity markets




























Page 10


BNP Paribas Plan

Opinion









Basis for Opinion










Other information












Page 11



























internal control

















presentation





~CKS


Page 12

Page 13

BNP Paribas Plan



Page 14




Assets 0 8 596 453 126 344 596 23 089 484



Liabilities 0 519 462 2 059 769 1 180 478


Net asset value 0 8 076 991 124 284 827 21 909 006


assets



Total expenses 0 69 324 2 290 478 559 832






gain(loss) on





the yearperiod (1 204 844) (1 154 515) (120 425 554) (17 153 609)




yearperiod 0 8 076 991 124 284 827 21 909 006

BNP Paribas Plan


Page 15




1 602 310 1 289 800 1 476 477 799 073 60 757 714 1 899 232

1 342 372 844 761 852 563 371 903 49 936 244 1 370 302 765 (1 133) (1 122) 823 (16 316) 527 561

1 343 137 843 628 851 441 372 726 49 919 928 1 897 863

0 0 0 0 2 449 0

28 152 424 562 566 259 360 880 2 139 338 0

229 784 19 475 54 787 59 140 8 694 054 1 369

1 237 2 135 3 990 6 327 1 945 0

2 462 2 830 2 926 2 906 979 454 323

0 0 0 0 921 671 0

0 0 0 0 0 0

2 462 2 830 2 926 2 906 57 783 323

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

331 1 504 2 486 3 457 57 926 0

21 542 43 863 47 987 40 833 548 004 2 307

836 2 766 3 179 3 974 13 940 6

6 895 7 966 8 618 8 237 27 400 1 242

1 246 3 851 4 222 4 004 8 783 32

5 287 0 0 0 44 218 13

35 806 58 446 64 006 57 048 642 345 3 600

(35 475) (56 942) (61 520) (53 591) (584 419) (3 600)

12 197 (2 183) (2 586) (5 469) (12 453) 8 725

1 269 925 1 453 074 1 782 846 2 403 618 4 202 484 (20)

1 246 647 1 393 949 1 718 740 2 344 558 3 605 612 5 105

(5 481) (7 600) (7 409) (3 195) (15 481) 225 257

(1 150 141) (996 002) (1 255 497) (1 545 456) 5 252 340 0

91 025 390 347 455 834 795 907 8 842 471 230 362

(3 618 687) (4 001 375) (4 218 052) (4 915 948) 9 598 196 (47 113)

(3 527 662) (3 611 028) (3 762 218) (4 120 041) 18 440 667 183 249

5 127 510 4 897 998 5 235 769 4 916 208 41 337 593 1 715 660

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

BNP Paribas Plan



Page 16

Consolidated

Expressed in EUR


Assets 225 855 139





















BNP Paribas Plan



Page 17


31102017 31102018 31102019 31102019

Net assets 1 495 098 1 204 844 0




31102017 31102018 31102019 31102019

Net assets 10 364 899 9 231 506 8 076 991




31102017 31102018 31102019 31102019

Net assets 430 486 852 244 710 381 124 284 827




31102017 31102018 31102019 31102019

Net assets 60 177 916 39 062 615 21 909 006




31102017 31102018 31102019 31102019

Net assets 5 364 799 5 127 510 1 599 848




31102017 31102018 31102019 31102019

Net assets 5 070 980 4 897 998 1 286 970





31102017 31102018 31102019 31102019

Net assets 5 385 036 5 235 769 1 473 551



BNP Paribas Plan



Page 18


31102017 31102018 31102019 31102019

Net assets 5 202 773 4 916 208 796 167





31102017 31102018 31102019 31102019

Net assets 78 097 844 41 337 593 59 778 260




31102017 31102018 31102019 31102019

Net assets 1 947 051 1 715 660 1 898 909





Page 19


assets



Shares 7 659 705 9483

Germany 4 605 763 5701

1 336 ADIDAS AG EUR 369 872 458


5 420 BASF SE EUR 369 807 458






56 182 EON SE EUR 507 716 629



3 232 SAP SE EUR 383 962 475


40 900 ING GROEP NV EUR 414 235 513





Belgium 447 723 554

6 196 UCB SA EUR 447 723 554

France 380 380 471

2 962 AIRBUS SE EUR 380 380 471

Spain 320 284 397

124 867 CAIXABANK EUR 320 284 397

Bonds 405 032 501

France 405 032 501










Page 20


assets



Shares 112 497 521 9052

France 110 131 361 8861


353 061 AXA SA EUR 8 362 250 673

107 919 BNP PARIBAS EUR 5 051 688 406

47 287 BOUYGUES SA EUR 1 796 906 145



52 398 DANONE EUR 3 896 315 313

321 954 ENGIE EUR 4 827 700 388


8 601 KERING EUR 4 388 230 353

10 410 LOREAL EUR 2 725 338 219

16 127 LVMH EUR 6 168 578 496

352 343 ORANGE EUR 5 087 833 409


73 522 RENAULT SA EUR 3 364 367 271

47 551 SAFRAN SA EUR 6 745 109 543




187 230 TOTAL SA EUR 8 825 086 710


59 890 VINCI SA EUR 6 024 934 485

196 155 VIVENDI EUR 4 896 029 394

Germany 1 939 413 157


5 938 BASF SE EUR 405 150 033


3 050 SAP SE EUR 362 340 029



Bonds 6 281 372 505

France 6 281 372 505

5 650 000 BNP PARIBAS 2875 13-26092023 EUR 6 281 372 505


France 3 002 988 242






Page 21


assets



Shares 21 114 236 9637

France 19 767 682 9022


6 115 AIRBUS SE EUR 785 288 358

43 075 AXA SA EUR 1 020 231 466


20 995 DANONE EUR 1 561 188 713

68 136 ENGIE EUR 1 021 699 466


4 167 LOREAL EUR 1 090 921 498

2 706 LVMH EUR 1 035 045 472

78 616 ORANGE EUR 1 135 215 518

4 479 SAFRAN SA EUR 635 346 290




43 000 TOTAL SA EUR 2 026 805 924


15 328 VINCI SA EUR 1 541 997 704

41 069 VIVENDI EUR 1 025 082 468

Germany 1 346 554 615











Page 22


assets



Shares 1 292 618 8079

France 1 292 618 8079

1 637 ACCOR SA EUR 63 057 394

2 692 AXA SA EUR 63 760 399





6 800 ENGIE EUR 101 966 637


114 KERING EUR 58 163 364



4 968 ORANGE EUR 71 738 448


3 192 PEUGEOT SA EUR 72 458 453


1 086 RENAULT SA EUR 49 695 311

1 463 SCOR SE EUR 55 272 345


540 SODEXO SA EUR 53 244 333

958 TOTAL SA EUR 45 155 282









Page 23


assets


France 697 093 5416











Page 24


assets


France 678 173 4602











Page 25


assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan

Information

Page 4

Guarantee
















the Guarantor







c) Pension sub-fund




incurred






created

BNP Paribas Plan

Managers report

Page 5

Economic context


















United States
















Europe
















BNP Paribas Plan

Managers report

Japan













United Kingdom












Emerging markets











BNP Paribas Plan

Managers report

Page 7

Monetary policy


















Council
















Currency markets












BNP Paribas Plan

Managers report

Page 8















Bond markets































BNP Paribas Plan

Managers report

Page 9

Equity markets




























Page 10


BNP Paribas Plan

Opinion









Basis for Opinion










Other information












Page 11



























internal control

















presentation





~CKS


Page 12

Page 13

BNP Paribas Plan



Page 14




Assets 0 8 596 453 126 344 596 23 089 484



Liabilities 0 519 462 2 059 769 1 180 478


Net asset value 0 8 076 991 124 284 827 21 909 006


assets



Total expenses 0 69 324 2 290 478 559 832






gain(loss) on





the yearperiod (1 204 844) (1 154 515) (120 425 554) (17 153 609)




yearperiod 0 8 076 991 124 284 827 21 909 006

BNP Paribas Plan


Page 15




1 602 310 1 289 800 1 476 477 799 073 60 757 714 1 899 232

1 342 372 844 761 852 563 371 903 49 936 244 1 370 302 765 (1 133) (1 122) 823 (16 316) 527 561

1 343 137 843 628 851 441 372 726 49 919 928 1 897 863

0 0 0 0 2 449 0

28 152 424 562 566 259 360 880 2 139 338 0

229 784 19 475 54 787 59 140 8 694 054 1 369

1 237 2 135 3 990 6 327 1 945 0

2 462 2 830 2 926 2 906 979 454 323

0 0 0 0 921 671 0

0 0 0 0 0 0

2 462 2 830 2 926 2 906 57 783 323

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

331 1 504 2 486 3 457 57 926 0

21 542 43 863 47 987 40 833 548 004 2 307

836 2 766 3 179 3 974 13 940 6

6 895 7 966 8 618 8 237 27 400 1 242

1 246 3 851 4 222 4 004 8 783 32

5 287 0 0 0 44 218 13

35 806 58 446 64 006 57 048 642 345 3 600

(35 475) (56 942) (61 520) (53 591) (584 419) (3 600)

12 197 (2 183) (2 586) (5 469) (12 453) 8 725

1 269 925 1 453 074 1 782 846 2 403 618 4 202 484 (20)

1 246 647 1 393 949 1 718 740 2 344 558 3 605 612 5 105

(5 481) (7 600) (7 409) (3 195) (15 481) 225 257

(1 150 141) (996 002) (1 255 497) (1 545 456) 5 252 340 0

91 025 390 347 455 834 795 907 8 842 471 230 362

(3 618 687) (4 001 375) (4 218 052) (4 915 948) 9 598 196 (47 113)

(3 527 662) (3 611 028) (3 762 218) (4 120 041) 18 440 667 183 249

5 127 510 4 897 998 5 235 769 4 916 208 41 337 593 1 715 660

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

BNP Paribas Plan



Page 16

Consolidated

Expressed in EUR


Assets 225 855 139





















BNP Paribas Plan



Page 17


31102017 31102018 31102019 31102019

Net assets 1 495 098 1 204 844 0




31102017 31102018 31102019 31102019

Net assets 10 364 899 9 231 506 8 076 991




31102017 31102018 31102019 31102019

Net assets 430 486 852 244 710 381 124 284 827




31102017 31102018 31102019 31102019

Net assets 60 177 916 39 062 615 21 909 006




31102017 31102018 31102019 31102019

Net assets 5 364 799 5 127 510 1 599 848




31102017 31102018 31102019 31102019

Net assets 5 070 980 4 897 998 1 286 970





31102017 31102018 31102019 31102019

Net assets 5 385 036 5 235 769 1 473 551



BNP Paribas Plan



Page 18


31102017 31102018 31102019 31102019

Net assets 5 202 773 4 916 208 796 167





31102017 31102018 31102019 31102019

Net assets 78 097 844 41 337 593 59 778 260




31102017 31102018 31102019 31102019

Net assets 1 947 051 1 715 660 1 898 909





Page 19


assets



Shares 7 659 705 9483

Germany 4 605 763 5701

1 336 ADIDAS AG EUR 369 872 458


5 420 BASF SE EUR 369 807 458






56 182 EON SE EUR 507 716 629



3 232 SAP SE EUR 383 962 475


40 900 ING GROEP NV EUR 414 235 513





Belgium 447 723 554

6 196 UCB SA EUR 447 723 554

France 380 380 471

2 962 AIRBUS SE EUR 380 380 471

Spain 320 284 397

124 867 CAIXABANK EUR 320 284 397

Bonds 405 032 501

France 405 032 501










Page 20


assets



Shares 112 497 521 9052

France 110 131 361 8861


353 061 AXA SA EUR 8 362 250 673

107 919 BNP PARIBAS EUR 5 051 688 406

47 287 BOUYGUES SA EUR 1 796 906 145



52 398 DANONE EUR 3 896 315 313

321 954 ENGIE EUR 4 827 700 388


8 601 KERING EUR 4 388 230 353

10 410 LOREAL EUR 2 725 338 219

16 127 LVMH EUR 6 168 578 496

352 343 ORANGE EUR 5 087 833 409


73 522 RENAULT SA EUR 3 364 367 271

47 551 SAFRAN SA EUR 6 745 109 543




187 230 TOTAL SA EUR 8 825 086 710


59 890 VINCI SA EUR 6 024 934 485

196 155 VIVENDI EUR 4 896 029 394

Germany 1 939 413 157


5 938 BASF SE EUR 405 150 033


3 050 SAP SE EUR 362 340 029



Bonds 6 281 372 505

France 6 281 372 505

5 650 000 BNP PARIBAS 2875 13-26092023 EUR 6 281 372 505


France 3 002 988 242






Page 21


assets



Shares 21 114 236 9637

France 19 767 682 9022


6 115 AIRBUS SE EUR 785 288 358

43 075 AXA SA EUR 1 020 231 466


20 995 DANONE EUR 1 561 188 713

68 136 ENGIE EUR 1 021 699 466


4 167 LOREAL EUR 1 090 921 498

2 706 LVMH EUR 1 035 045 472

78 616 ORANGE EUR 1 135 215 518

4 479 SAFRAN SA EUR 635 346 290




43 000 TOTAL SA EUR 2 026 805 924


15 328 VINCI SA EUR 1 541 997 704

41 069 VIVENDI EUR 1 025 082 468

Germany 1 346 554 615











Page 22


assets



Shares 1 292 618 8079

France 1 292 618 8079

1 637 ACCOR SA EUR 63 057 394

2 692 AXA SA EUR 63 760 399





6 800 ENGIE EUR 101 966 637


114 KERING EUR 58 163 364



4 968 ORANGE EUR 71 738 448


3 192 PEUGEOT SA EUR 72 458 453


1 086 RENAULT SA EUR 49 695 311

1 463 SCOR SE EUR 55 272 345


540 SODEXO SA EUR 53 244 333

958 TOTAL SA EUR 45 155 282









Page 23


assets


France 697 093 5416











Page 24


assets


France 678 173 4602











Page 25


assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan

Managers report

Page 5

Economic context


















United States
















Europe
















BNP Paribas Plan

Managers report

Page 6

Japan













United Kingdom












Emerging markets











BNP Paribas Plan

Managers report

Monetary policy


















Council
















Currency markets












BNP Paribas Plan

Managers report

Page 8















Bond markets































BNP Paribas Plan

Managers report

Page 9

Equity markets




























Page 10


BNP Paribas Plan

Opinion









Basis for Opinion










Other information












Page 11



























internal control

















presentation





~CKS


Page 12

Page 13

BNP Paribas Plan



Page 14




Assets 0 8 596 453 126 344 596 23 089 484



Liabilities 0 519 462 2 059 769 1 180 478


Net asset value 0 8 076 991 124 284 827 21 909 006


assets



Total expenses 0 69 324 2 290 478 559 832






gain(loss) on





the yearperiod (1 204 844) (1 154 515) (120 425 554) (17 153 609)




yearperiod 0 8 076 991 124 284 827 21 909 006

BNP Paribas Plan


Page 15




1 602 310 1 289 800 1 476 477 799 073 60 757 714 1 899 232

1 342 372 844 761 852 563 371 903 49 936 244 1 370 302 765 (1 133) (1 122) 823 (16 316) 527 561

1 343 137 843 628 851 441 372 726 49 919 928 1 897 863

0 0 0 0 2 449 0

28 152 424 562 566 259 360 880 2 139 338 0

229 784 19 475 54 787 59 140 8 694 054 1 369

1 237 2 135 3 990 6 327 1 945 0

2 462 2 830 2 926 2 906 979 454 323

0 0 0 0 921 671 0

0 0 0 0 0 0

2 462 2 830 2 926 2 906 57 783 323

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

331 1 504 2 486 3 457 57 926 0

21 542 43 863 47 987 40 833 548 004 2 307

836 2 766 3 179 3 974 13 940 6

6 895 7 966 8 618 8 237 27 400 1 242

1 246 3 851 4 222 4 004 8 783 32

5 287 0 0 0 44 218 13

35 806 58 446 64 006 57 048 642 345 3 600

(35 475) (56 942) (61 520) (53 591) (584 419) (3 600)

12 197 (2 183) (2 586) (5 469) (12 453) 8 725

1 269 925 1 453 074 1 782 846 2 403 618 4 202 484 (20)

1 246 647 1 393 949 1 718 740 2 344 558 3 605 612 5 105

(5 481) (7 600) (7 409) (3 195) (15 481) 225 257

(1 150 141) (996 002) (1 255 497) (1 545 456) 5 252 340 0

91 025 390 347 455 834 795 907 8 842 471 230 362

(3 618 687) (4 001 375) (4 218 052) (4 915 948) 9 598 196 (47 113)

(3 527 662) (3 611 028) (3 762 218) (4 120 041) 18 440 667 183 249

5 127 510 4 897 998 5 235 769 4 916 208 41 337 593 1 715 660

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

BNP Paribas Plan



Page 16

Consolidated

Expressed in EUR


Assets 225 855 139





















BNP Paribas Plan



Page 17


31102017 31102018 31102019 31102019

Net assets 1 495 098 1 204 844 0




31102017 31102018 31102019 31102019

Net assets 10 364 899 9 231 506 8 076 991




31102017 31102018 31102019 31102019

Net assets 430 486 852 244 710 381 124 284 827




31102017 31102018 31102019 31102019

Net assets 60 177 916 39 062 615 21 909 006




31102017 31102018 31102019 31102019

Net assets 5 364 799 5 127 510 1 599 848




31102017 31102018 31102019 31102019

Net assets 5 070 980 4 897 998 1 286 970





31102017 31102018 31102019 31102019

Net assets 5 385 036 5 235 769 1 473 551



BNP Paribas Plan



Page 18


31102017 31102018 31102019 31102019

Net assets 5 202 773 4 916 208 796 167





31102017 31102018 31102019 31102019

Net assets 78 097 844 41 337 593 59 778 260




31102017 31102018 31102019 31102019

Net assets 1 947 051 1 715 660 1 898 909





Page 19


assets



Shares 7 659 705 9483

Germany 4 605 763 5701

1 336 ADIDAS AG EUR 369 872 458


5 420 BASF SE EUR 369 807 458






56 182 EON SE EUR 507 716 629



3 232 SAP SE EUR 383 962 475


40 900 ING GROEP NV EUR 414 235 513





Belgium 447 723 554

6 196 UCB SA EUR 447 723 554

France 380 380 471

2 962 AIRBUS SE EUR 380 380 471

Spain 320 284 397

124 867 CAIXABANK EUR 320 284 397

Bonds 405 032 501

France 405 032 501










Page 20


assets



Shares 112 497 521 9052

France 110 131 361 8861


353 061 AXA SA EUR 8 362 250 673

107 919 BNP PARIBAS EUR 5 051 688 406

47 287 BOUYGUES SA EUR 1 796 906 145



52 398 DANONE EUR 3 896 315 313

321 954 ENGIE EUR 4 827 700 388


8 601 KERING EUR 4 388 230 353

10 410 LOREAL EUR 2 725 338 219

16 127 LVMH EUR 6 168 578 496

352 343 ORANGE EUR 5 087 833 409


73 522 RENAULT SA EUR 3 364 367 271

47 551 SAFRAN SA EUR 6 745 109 543




187 230 TOTAL SA EUR 8 825 086 710


59 890 VINCI SA EUR 6 024 934 485

196 155 VIVENDI EUR 4 896 029 394

Germany 1 939 413 157


5 938 BASF SE EUR 405 150 033


3 050 SAP SE EUR 362 340 029



Bonds 6 281 372 505

France 6 281 372 505

5 650 000 BNP PARIBAS 2875 13-26092023 EUR 6 281 372 505


France 3 002 988 242






Page 21


assets



Shares 21 114 236 9637

France 19 767 682 9022


6 115 AIRBUS SE EUR 785 288 358

43 075 AXA SA EUR 1 020 231 466


20 995 DANONE EUR 1 561 188 713

68 136 ENGIE EUR 1 021 699 466


4 167 LOREAL EUR 1 090 921 498

2 706 LVMH EUR 1 035 045 472

78 616 ORANGE EUR 1 135 215 518

4 479 SAFRAN SA EUR 635 346 290




43 000 TOTAL SA EUR 2 026 805 924


15 328 VINCI SA EUR 1 541 997 704

41 069 VIVENDI EUR 1 025 082 468

Germany 1 346 554 615











Page 22


assets



Shares 1 292 618 8079

France 1 292 618 8079

1 637 ACCOR SA EUR 63 057 394

2 692 AXA SA EUR 63 760 399





6 800 ENGIE EUR 101 966 637


114 KERING EUR 58 163 364



4 968 ORANGE EUR 71 738 448


3 192 PEUGEOT SA EUR 72 458 453


1 086 RENAULT SA EUR 49 695 311

1 463 SCOR SE EUR 55 272 345


540 SODEXO SA EUR 53 244 333

958 TOTAL SA EUR 45 155 282









Page 23


assets


France 697 093 5416











Page 24


assets


France 678 173 4602











Page 25


assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan

Managers report

Page 6

Japan













United Kingdom












Emerging markets











BNP Paribas Plan

Managers report

Page 7

Monetary policy


















Council
















Currency markets












BNP Paribas Plan

Managers report















Bond markets































BNP Paribas Plan

Managers report

Page 9

Equity markets




























Page 10


BNP Paribas Plan

Opinion









Basis for Opinion










Other information












Page 11



























internal control

















presentation





~CKS


Page 12

Page 13

BNP Paribas Plan



Page 14




Assets 0 8 596 453 126 344 596 23 089 484



Liabilities 0 519 462 2 059 769 1 180 478


Net asset value 0 8 076 991 124 284 827 21 909 006


assets



Total expenses 0 69 324 2 290 478 559 832






gain(loss) on





the yearperiod (1 204 844) (1 154 515) (120 425 554) (17 153 609)




yearperiod 0 8 076 991 124 284 827 21 909 006

BNP Paribas Plan


Page 15




1 602 310 1 289 800 1 476 477 799 073 60 757 714 1 899 232

1 342 372 844 761 852 563 371 903 49 936 244 1 370 302 765 (1 133) (1 122) 823 (16 316) 527 561

1 343 137 843 628 851 441 372 726 49 919 928 1 897 863

0 0 0 0 2 449 0

28 152 424 562 566 259 360 880 2 139 338 0

229 784 19 475 54 787 59 140 8 694 054 1 369

1 237 2 135 3 990 6 327 1 945 0

2 462 2 830 2 926 2 906 979 454 323

0 0 0 0 921 671 0

0 0 0 0 0 0

2 462 2 830 2 926 2 906 57 783 323

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

331 1 504 2 486 3 457 57 926 0

21 542 43 863 47 987 40 833 548 004 2 307

836 2 766 3 179 3 974 13 940 6

6 895 7 966 8 618 8 237 27 400 1 242

1 246 3 851 4 222 4 004 8 783 32

5 287 0 0 0 44 218 13

35 806 58 446 64 006 57 048 642 345 3 600

(35 475) (56 942) (61 520) (53 591) (584 419) (3 600)

12 197 (2 183) (2 586) (5 469) (12 453) 8 725

1 269 925 1 453 074 1 782 846 2 403 618 4 202 484 (20)

1 246 647 1 393 949 1 718 740 2 344 558 3 605 612 5 105

(5 481) (7 600) (7 409) (3 195) (15 481) 225 257

(1 150 141) (996 002) (1 255 497) (1 545 456) 5 252 340 0

91 025 390 347 455 834 795 907 8 842 471 230 362

(3 618 687) (4 001 375) (4 218 052) (4 915 948) 9 598 196 (47 113)

(3 527 662) (3 611 028) (3 762 218) (4 120 041) 18 440 667 183 249

5 127 510 4 897 998 5 235 769 4 916 208 41 337 593 1 715 660

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

BNP Paribas Plan



Page 16

Consolidated

Expressed in EUR


Assets 225 855 139





















BNP Paribas Plan



Page 17


31102017 31102018 31102019 31102019

Net assets 1 495 098 1 204 844 0




31102017 31102018 31102019 31102019

Net assets 10 364 899 9 231 506 8 076 991




31102017 31102018 31102019 31102019

Net assets 430 486 852 244 710 381 124 284 827




31102017 31102018 31102019 31102019

Net assets 60 177 916 39 062 615 21 909 006




31102017 31102018 31102019 31102019

Net assets 5 364 799 5 127 510 1 599 848




31102017 31102018 31102019 31102019

Net assets 5 070 980 4 897 998 1 286 970





31102017 31102018 31102019 31102019

Net assets 5 385 036 5 235 769 1 473 551



BNP Paribas Plan



Page 18


31102017 31102018 31102019 31102019

Net assets 5 202 773 4 916 208 796 167





31102017 31102018 31102019 31102019

Net assets 78 097 844 41 337 593 59 778 260




31102017 31102018 31102019 31102019

Net assets 1 947 051 1 715 660 1 898 909





Page 19


assets



Shares 7 659 705 9483

Germany 4 605 763 5701

1 336 ADIDAS AG EUR 369 872 458


5 420 BASF SE EUR 369 807 458






56 182 EON SE EUR 507 716 629



3 232 SAP SE EUR 383 962 475


40 900 ING GROEP NV EUR 414 235 513





Belgium 447 723 554

6 196 UCB SA EUR 447 723 554

France 380 380 471

2 962 AIRBUS SE EUR 380 380 471

Spain 320 284 397

124 867 CAIXABANK EUR 320 284 397

Bonds 405 032 501

France 405 032 501










Page 20


assets



Shares 112 497 521 9052

France 110 131 361 8861


353 061 AXA SA EUR 8 362 250 673

107 919 BNP PARIBAS EUR 5 051 688 406

47 287 BOUYGUES SA EUR 1 796 906 145



52 398 DANONE EUR 3 896 315 313

321 954 ENGIE EUR 4 827 700 388


8 601 KERING EUR 4 388 230 353

10 410 LOREAL EUR 2 725 338 219

16 127 LVMH EUR 6 168 578 496

352 343 ORANGE EUR 5 087 833 409


73 522 RENAULT SA EUR 3 364 367 271

47 551 SAFRAN SA EUR 6 745 109 543




187 230 TOTAL SA EUR 8 825 086 710


59 890 VINCI SA EUR 6 024 934 485

196 155 VIVENDI EUR 4 896 029 394

Germany 1 939 413 157


5 938 BASF SE EUR 405 150 033


3 050 SAP SE EUR 362 340 029



Bonds 6 281 372 505

France 6 281 372 505

5 650 000 BNP PARIBAS 2875 13-26092023 EUR 6 281 372 505


France 3 002 988 242






Page 21


assets



Shares 21 114 236 9637

France 19 767 682 9022


6 115 AIRBUS SE EUR 785 288 358

43 075 AXA SA EUR 1 020 231 466


20 995 DANONE EUR 1 561 188 713

68 136 ENGIE EUR 1 021 699 466


4 167 LOREAL EUR 1 090 921 498

2 706 LVMH EUR 1 035 045 472

78 616 ORANGE EUR 1 135 215 518

4 479 SAFRAN SA EUR 635 346 290




43 000 TOTAL SA EUR 2 026 805 924


15 328 VINCI SA EUR 1 541 997 704

41 069 VIVENDI EUR 1 025 082 468

Germany 1 346 554 615











Page 22


assets



Shares 1 292 618 8079

France 1 292 618 8079

1 637 ACCOR SA EUR 63 057 394

2 692 AXA SA EUR 63 760 399





6 800 ENGIE EUR 101 966 637


114 KERING EUR 58 163 364



4 968 ORANGE EUR 71 738 448


3 192 PEUGEOT SA EUR 72 458 453


1 086 RENAULT SA EUR 49 695 311

1 463 SCOR SE EUR 55 272 345


540 SODEXO SA EUR 53 244 333

958 TOTAL SA EUR 45 155 282









Page 23


assets


France 697 093 5416











Page 24


assets


France 678 173 4602











Page 25


assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan

Managers report

Page 7

Monetary policy


















Council
















Currency markets












BNP Paribas Plan

Managers report

Page 8















Bond markets































BNP Paribas Plan

Managers report

Equity markets




























Page 10


BNP Paribas Plan

Opinion









Basis for Opinion










Other information












Page 11



























internal control

















presentation





~CKS


Page 12

Page 13

BNP Paribas Plan



Page 14




Assets 0 8 596 453 126 344 596 23 089 484



Liabilities 0 519 462 2 059 769 1 180 478


Net asset value 0 8 076 991 124 284 827 21 909 006


assets



Total expenses 0 69 324 2 290 478 559 832






gain(loss) on





the yearperiod (1 204 844) (1 154 515) (120 425 554) (17 153 609)




yearperiod 0 8 076 991 124 284 827 21 909 006

BNP Paribas Plan


Page 15




1 602 310 1 289 800 1 476 477 799 073 60 757 714 1 899 232

1 342 372 844 761 852 563 371 903 49 936 244 1 370 302 765 (1 133) (1 122) 823 (16 316) 527 561

1 343 137 843 628 851 441 372 726 49 919 928 1 897 863

0 0 0 0 2 449 0

28 152 424 562 566 259 360 880 2 139 338 0

229 784 19 475 54 787 59 140 8 694 054 1 369

1 237 2 135 3 990 6 327 1 945 0

2 462 2 830 2 926 2 906 979 454 323

0 0 0 0 921 671 0

0 0 0 0 0 0

2 462 2 830 2 926 2 906 57 783 323

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

331 1 504 2 486 3 457 57 926 0

21 542 43 863 47 987 40 833 548 004 2 307

836 2 766 3 179 3 974 13 940 6

6 895 7 966 8 618 8 237 27 400 1 242

1 246 3 851 4 222 4 004 8 783 32

5 287 0 0 0 44 218 13

35 806 58 446 64 006 57 048 642 345 3 600

(35 475) (56 942) (61 520) (53 591) (584 419) (3 600)

12 197 (2 183) (2 586) (5 469) (12 453) 8 725

1 269 925 1 453 074 1 782 846 2 403 618 4 202 484 (20)

1 246 647 1 393 949 1 718 740 2 344 558 3 605 612 5 105

(5 481) (7 600) (7 409) (3 195) (15 481) 225 257

(1 150 141) (996 002) (1 255 497) (1 545 456) 5 252 340 0

91 025 390 347 455 834 795 907 8 842 471 230 362

(3 618 687) (4 001 375) (4 218 052) (4 915 948) 9 598 196 (47 113)

(3 527 662) (3 611 028) (3 762 218) (4 120 041) 18 440 667 183 249

5 127 510 4 897 998 5 235 769 4 916 208 41 337 593 1 715 660

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

BNP Paribas Plan



Page 16

Consolidated

Expressed in EUR


Assets 225 855 139





















BNP Paribas Plan



Page 17


31102017 31102018 31102019 31102019

Net assets 1 495 098 1 204 844 0




31102017 31102018 31102019 31102019

Net assets 10 364 899 9 231 506 8 076 991




31102017 31102018 31102019 31102019

Net assets 430 486 852 244 710 381 124 284 827




31102017 31102018 31102019 31102019

Net assets 60 177 916 39 062 615 21 909 006




31102017 31102018 31102019 31102019

Net assets 5 364 799 5 127 510 1 599 848




31102017 31102018 31102019 31102019

Net assets 5 070 980 4 897 998 1 286 970





31102017 31102018 31102019 31102019

Net assets 5 385 036 5 235 769 1 473 551



BNP Paribas Plan



Page 18


31102017 31102018 31102019 31102019

Net assets 5 202 773 4 916 208 796 167





31102017 31102018 31102019 31102019

Net assets 78 097 844 41 337 593 59 778 260




31102017 31102018 31102019 31102019

Net assets 1 947 051 1 715 660 1 898 909





Page 19


assets



Shares 7 659 705 9483

Germany 4 605 763 5701

1 336 ADIDAS AG EUR 369 872 458


5 420 BASF SE EUR 369 807 458






56 182 EON SE EUR 507 716 629



3 232 SAP SE EUR 383 962 475


40 900 ING GROEP NV EUR 414 235 513





Belgium 447 723 554

6 196 UCB SA EUR 447 723 554

France 380 380 471

2 962 AIRBUS SE EUR 380 380 471

Spain 320 284 397

124 867 CAIXABANK EUR 320 284 397

Bonds 405 032 501

France 405 032 501










Page 20


assets



Shares 112 497 521 9052

France 110 131 361 8861


353 061 AXA SA EUR 8 362 250 673

107 919 BNP PARIBAS EUR 5 051 688 406

47 287 BOUYGUES SA EUR 1 796 906 145



52 398 DANONE EUR 3 896 315 313

321 954 ENGIE EUR 4 827 700 388


8 601 KERING EUR 4 388 230 353

10 410 LOREAL EUR 2 725 338 219

16 127 LVMH EUR 6 168 578 496

352 343 ORANGE EUR 5 087 833 409


73 522 RENAULT SA EUR 3 364 367 271

47 551 SAFRAN SA EUR 6 745 109 543




187 230 TOTAL SA EUR 8 825 086 710


59 890 VINCI SA EUR 6 024 934 485

196 155 VIVENDI EUR 4 896 029 394

Germany 1 939 413 157


5 938 BASF SE EUR 405 150 033


3 050 SAP SE EUR 362 340 029



Bonds 6 281 372 505

France 6 281 372 505

5 650 000 BNP PARIBAS 2875 13-26092023 EUR 6 281 372 505


France 3 002 988 242






Page 21


assets



Shares 21 114 236 9637

France 19 767 682 9022


6 115 AIRBUS SE EUR 785 288 358

43 075 AXA SA EUR 1 020 231 466


20 995 DANONE EUR 1 561 188 713

68 136 ENGIE EUR 1 021 699 466


4 167 LOREAL EUR 1 090 921 498

2 706 LVMH EUR 1 035 045 472

78 616 ORANGE EUR 1 135 215 518

4 479 SAFRAN SA EUR 635 346 290




43 000 TOTAL SA EUR 2 026 805 924


15 328 VINCI SA EUR 1 541 997 704

41 069 VIVENDI EUR 1 025 082 468

Germany 1 346 554 615











Page 22


assets



Shares 1 292 618 8079

France 1 292 618 8079

1 637 ACCOR SA EUR 63 057 394

2 692 AXA SA EUR 63 760 399





6 800 ENGIE EUR 101 966 637


114 KERING EUR 58 163 364



4 968 ORANGE EUR 71 738 448


3 192 PEUGEOT SA EUR 72 458 453


1 086 RENAULT SA EUR 49 695 311

1 463 SCOR SE EUR 55 272 345


540 SODEXO SA EUR 53 244 333

958 TOTAL SA EUR 45 155 282









Page 23


assets


France 697 093 5416











Page 24


assets


France 678 173 4602











Page 25


assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan

Managers report

Page 8















Bond markets































BNP Paribas Plan

Managers report

Page 9

Equity markets





























BNP Paribas Plan

Opinion









Basis for Opinion










Other information












Page 11



























internal control

















presentation





~CKS


Page 12

Page 13

BNP Paribas Plan



Page 14




Assets 0 8 596 453 126 344 596 23 089 484



Liabilities 0 519 462 2 059 769 1 180 478


Net asset value 0 8 076 991 124 284 827 21 909 006


assets



Total expenses 0 69 324 2 290 478 559 832






gain(loss) on





the yearperiod (1 204 844) (1 154 515) (120 425 554) (17 153 609)




yearperiod 0 8 076 991 124 284 827 21 909 006

BNP Paribas Plan


Page 15




1 602 310 1 289 800 1 476 477 799 073 60 757 714 1 899 232

1 342 372 844 761 852 563 371 903 49 936 244 1 370 302 765 (1 133) (1 122) 823 (16 316) 527 561

1 343 137 843 628 851 441 372 726 49 919 928 1 897 863

0 0 0 0 2 449 0

28 152 424 562 566 259 360 880 2 139 338 0

229 784 19 475 54 787 59 140 8 694 054 1 369

1 237 2 135 3 990 6 327 1 945 0

2 462 2 830 2 926 2 906 979 454 323

0 0 0 0 921 671 0

0 0 0 0 0 0

2 462 2 830 2 926 2 906 57 783 323

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

331 1 504 2 486 3 457 57 926 0

21 542 43 863 47 987 40 833 548 004 2 307

836 2 766 3 179 3 974 13 940 6

6 895 7 966 8 618 8 237 27 400 1 242

1 246 3 851 4 222 4 004 8 783 32

5 287 0 0 0 44 218 13

35 806 58 446 64 006 57 048 642 345 3 600

(35 475) (56 942) (61 520) (53 591) (584 419) (3 600)

12 197 (2 183) (2 586) (5 469) (12 453) 8 725

1 269 925 1 453 074 1 782 846 2 403 618 4 202 484 (20)

1 246 647 1 393 949 1 718 740 2 344 558 3 605 612 5 105

(5 481) (7 600) (7 409) (3 195) (15 481) 225 257

(1 150 141) (996 002) (1 255 497) (1 545 456) 5 252 340 0

91 025 390 347 455 834 795 907 8 842 471 230 362

(3 618 687) (4 001 375) (4 218 052) (4 915 948) 9 598 196 (47 113)

(3 527 662) (3 611 028) (3 762 218) (4 120 041) 18 440 667 183 249

5 127 510 4 897 998 5 235 769 4 916 208 41 337 593 1 715 660

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

BNP Paribas Plan



Page 16

Consolidated

Expressed in EUR


Assets 225 855 139





















BNP Paribas Plan



Page 17


31102017 31102018 31102019 31102019

Net assets 1 495 098 1 204 844 0




31102017 31102018 31102019 31102019

Net assets 10 364 899 9 231 506 8 076 991




31102017 31102018 31102019 31102019

Net assets 430 486 852 244 710 381 124 284 827




31102017 31102018 31102019 31102019

Net assets 60 177 916 39 062 615 21 909 006




31102017 31102018 31102019 31102019

Net assets 5 364 799 5 127 510 1 599 848




31102017 31102018 31102019 31102019

Net assets 5 070 980 4 897 998 1 286 970





31102017 31102018 31102019 31102019

Net assets 5 385 036 5 235 769 1 473 551



BNP Paribas Plan



Page 18


31102017 31102018 31102019 31102019

Net assets 5 202 773 4 916 208 796 167





31102017 31102018 31102019 31102019

Net assets 78 097 844 41 337 593 59 778 260




31102017 31102018 31102019 31102019

Net assets 1 947 051 1 715 660 1 898 909





Page 19


assets



Shares 7 659 705 9483

Germany 4 605 763 5701

1 336 ADIDAS AG EUR 369 872 458


5 420 BASF SE EUR 369 807 458






56 182 EON SE EUR 507 716 629



3 232 SAP SE EUR 383 962 475


40 900 ING GROEP NV EUR 414 235 513





Belgium 447 723 554

6 196 UCB SA EUR 447 723 554

France 380 380 471

2 962 AIRBUS SE EUR 380 380 471

Spain 320 284 397

124 867 CAIXABANK EUR 320 284 397

Bonds 405 032 501

France 405 032 501










Page 20


assets



Shares 112 497 521 9052

France 110 131 361 8861


353 061 AXA SA EUR 8 362 250 673

107 919 BNP PARIBAS EUR 5 051 688 406

47 287 BOUYGUES SA EUR 1 796 906 145



52 398 DANONE EUR 3 896 315 313

321 954 ENGIE EUR 4 827 700 388


8 601 KERING EUR 4 388 230 353

10 410 LOREAL EUR 2 725 338 219

16 127 LVMH EUR 6 168 578 496

352 343 ORANGE EUR 5 087 833 409


73 522 RENAULT SA EUR 3 364 367 271

47 551 SAFRAN SA EUR 6 745 109 543




187 230 TOTAL SA EUR 8 825 086 710


59 890 VINCI SA EUR 6 024 934 485

196 155 VIVENDI EUR 4 896 029 394

Germany 1 939 413 157


5 938 BASF SE EUR 405 150 033


3 050 SAP SE EUR 362 340 029



Bonds 6 281 372 505

France 6 281 372 505

5 650 000 BNP PARIBAS 2875 13-26092023 EUR 6 281 372 505


France 3 002 988 242






Page 21


assets



Shares 21 114 236 9637

France 19 767 682 9022


6 115 AIRBUS SE EUR 785 288 358

43 075 AXA SA EUR 1 020 231 466


20 995 DANONE EUR 1 561 188 713

68 136 ENGIE EUR 1 021 699 466


4 167 LOREAL EUR 1 090 921 498

2 706 LVMH EUR 1 035 045 472

78 616 ORANGE EUR 1 135 215 518

4 479 SAFRAN SA EUR 635 346 290




43 000 TOTAL SA EUR 2 026 805 924


15 328 VINCI SA EUR 1 541 997 704

41 069 VIVENDI EUR 1 025 082 468

Germany 1 346 554 615











Page 22


assets



Shares 1 292 618 8079

France 1 292 618 8079

1 637 ACCOR SA EUR 63 057 394

2 692 AXA SA EUR 63 760 399





6 800 ENGIE EUR 101 966 637


114 KERING EUR 58 163 364



4 968 ORANGE EUR 71 738 448


3 192 PEUGEOT SA EUR 72 458 453


1 086 RENAULT SA EUR 49 695 311

1 463 SCOR SE EUR 55 272 345


540 SODEXO SA EUR 53 244 333

958 TOTAL SA EUR 45 155 282









Page 23


assets


France 697 093 5416











Page 24


assets


France 678 173 4602











Page 25


assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan

Managers report

Page 9

Equity markets




























Page 10


BNP Paribas Plan

Opinion









Basis for Opinion










Other information






































internal control

















presentation





~CKS


Page 12

Page 13

BNP Paribas Plan



Page 14




Assets 0 8 596 453 126 344 596 23 089 484



Liabilities 0 519 462 2 059 769 1 180 478


Net asset value 0 8 076 991 124 284 827 21 909 006


assets



Total expenses 0 69 324 2 290 478 559 832






gain(loss) on





the yearperiod (1 204 844) (1 154 515) (120 425 554) (17 153 609)




yearperiod 0 8 076 991 124 284 827 21 909 006

BNP Paribas Plan


Page 15




1 602 310 1 289 800 1 476 477 799 073 60 757 714 1 899 232

1 342 372 844 761 852 563 371 903 49 936 244 1 370 302 765 (1 133) (1 122) 823 (16 316) 527 561

1 343 137 843 628 851 441 372 726 49 919 928 1 897 863

0 0 0 0 2 449 0

28 152 424 562 566 259 360 880 2 139 338 0

229 784 19 475 54 787 59 140 8 694 054 1 369

1 237 2 135 3 990 6 327 1 945 0

2 462 2 830 2 926 2 906 979 454 323

0 0 0 0 921 671 0

0 0 0 0 0 0

2 462 2 830 2 926 2 906 57 783 323

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

331 1 504 2 486 3 457 57 926 0

21 542 43 863 47 987 40 833 548 004 2 307

836 2 766 3 179 3 974 13 940 6

6 895 7 966 8 618 8 237 27 400 1 242

1 246 3 851 4 222 4 004 8 783 32

5 287 0 0 0 44 218 13

35 806 58 446 64 006 57 048 642 345 3 600

(35 475) (56 942) (61 520) (53 591) (584 419) (3 600)

12 197 (2 183) (2 586) (5 469) (12 453) 8 725

1 269 925 1 453 074 1 782 846 2 403 618 4 202 484 (20)

1 246 647 1 393 949 1 718 740 2 344 558 3 605 612 5 105

(5 481) (7 600) (7 409) (3 195) (15 481) 225 257

(1 150 141) (996 002) (1 255 497) (1 545 456) 5 252 340 0

91 025 390 347 455 834 795 907 8 842 471 230 362

(3 618 687) (4 001 375) (4 218 052) (4 915 948) 9 598 196 (47 113)

(3 527 662) (3 611 028) (3 762 218) (4 120 041) 18 440 667 183 249

5 127 510 4 897 998 5 235 769 4 916 208 41 337 593 1 715 660

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

BNP Paribas Plan



Page 16

Consolidated

Expressed in EUR


Assets 225 855 139





















BNP Paribas Plan



Page 17


31102017 31102018 31102019 31102019

Net assets 1 495 098 1 204 844 0




31102017 31102018 31102019 31102019

Net assets 10 364 899 9 231 506 8 076 991




31102017 31102018 31102019 31102019

Net assets 430 486 852 244 710 381 124 284 827




31102017 31102018 31102019 31102019

Net assets 60 177 916 39 062 615 21 909 006




31102017 31102018 31102019 31102019

Net assets 5 364 799 5 127 510 1 599 848




31102017 31102018 31102019 31102019

Net assets 5 070 980 4 897 998 1 286 970





31102017 31102018 31102019 31102019

Net assets 5 385 036 5 235 769 1 473 551



BNP Paribas Plan



Page 18


31102017 31102018 31102019 31102019

Net assets 5 202 773 4 916 208 796 167





31102017 31102018 31102019 31102019

Net assets 78 097 844 41 337 593 59 778 260




31102017 31102018 31102019 31102019

Net assets 1 947 051 1 715 660 1 898 909





Page 19


assets



Shares 7 659 705 9483

Germany 4 605 763 5701

1 336 ADIDAS AG EUR 369 872 458


5 420 BASF SE EUR 369 807 458






56 182 EON SE EUR 507 716 629



3 232 SAP SE EUR 383 962 475


40 900 ING GROEP NV EUR 414 235 513





Belgium 447 723 554

6 196 UCB SA EUR 447 723 554

France 380 380 471

2 962 AIRBUS SE EUR 380 380 471

Spain 320 284 397

124 867 CAIXABANK EUR 320 284 397

Bonds 405 032 501

France 405 032 501










Page 20


assets



Shares 112 497 521 9052

France 110 131 361 8861


353 061 AXA SA EUR 8 362 250 673

107 919 BNP PARIBAS EUR 5 051 688 406

47 287 BOUYGUES SA EUR 1 796 906 145



52 398 DANONE EUR 3 896 315 313

321 954 ENGIE EUR 4 827 700 388


8 601 KERING EUR 4 388 230 353

10 410 LOREAL EUR 2 725 338 219

16 127 LVMH EUR 6 168 578 496

352 343 ORANGE EUR 5 087 833 409


73 522 RENAULT SA EUR 3 364 367 271

47 551 SAFRAN SA EUR 6 745 109 543




187 230 TOTAL SA EUR 8 825 086 710


59 890 VINCI SA EUR 6 024 934 485

196 155 VIVENDI EUR 4 896 029 394

Germany 1 939 413 157


5 938 BASF SE EUR 405 150 033


3 050 SAP SE EUR 362 340 029



Bonds 6 281 372 505

France 6 281 372 505

5 650 000 BNP PARIBAS 2875 13-26092023 EUR 6 281 372 505


France 3 002 988 242






Page 21


assets



Shares 21 114 236 9637

France 19 767 682 9022


6 115 AIRBUS SE EUR 785 288 358

43 075 AXA SA EUR 1 020 231 466


20 995 DANONE EUR 1 561 188 713

68 136 ENGIE EUR 1 021 699 466


4 167 LOREAL EUR 1 090 921 498

2 706 LVMH EUR 1 035 045 472

78 616 ORANGE EUR 1 135 215 518

4 479 SAFRAN SA EUR 635 346 290




43 000 TOTAL SA EUR 2 026 805 924


15 328 VINCI SA EUR 1 541 997 704

41 069 VIVENDI EUR 1 025 082 468

Germany 1 346 554 615











Page 22


assets



Shares 1 292 618 8079

France 1 292 618 8079

1 637 ACCOR SA EUR 63 057 394

2 692 AXA SA EUR 63 760 399





6 800 ENGIE EUR 101 966 637


114 KERING EUR 58 163 364



4 968 ORANGE EUR 71 738 448


3 192 PEUGEOT SA EUR 72 458 453


1 086 RENAULT SA EUR 49 695 311

1 463 SCOR SE EUR 55 272 345


540 SODEXO SA EUR 53 244 333

958 TOTAL SA EUR 45 155 282









Page 23


assets


France 697 093 5416











Page 24


assets


France 678 173 4602











Page 25


assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world


Page 10


BNP Paribas Plan

Opinion









Basis for Opinion










Other information












Page 11



























internal control

















presentation





~CKS


Page 13

BNP Paribas Plan



Page 14




Assets 0 8 596 453 126 344 596 23 089 484



Liabilities 0 519 462 2 059 769 1 180 478


Net asset value 0 8 076 991 124 284 827 21 909 006


assets



Total expenses 0 69 324 2 290 478 559 832






gain(loss) on





the yearperiod (1 204 844) (1 154 515) (120 425 554) (17 153 609)




yearperiod 0 8 076 991 124 284 827 21 909 006

BNP Paribas Plan


Page 15




1 602 310 1 289 800 1 476 477 799 073 60 757 714 1 899 232

1 342 372 844 761 852 563 371 903 49 936 244 1 370 302 765 (1 133) (1 122) 823 (16 316) 527 561

1 343 137 843 628 851 441 372 726 49 919 928 1 897 863

0 0 0 0 2 449 0

28 152 424 562 566 259 360 880 2 139 338 0

229 784 19 475 54 787 59 140 8 694 054 1 369

1 237 2 135 3 990 6 327 1 945 0

2 462 2 830 2 926 2 906 979 454 323

0 0 0 0 921 671 0

0 0 0 0 0 0

2 462 2 830 2 926 2 906 57 783 323

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

331 1 504 2 486 3 457 57 926 0

21 542 43 863 47 987 40 833 548 004 2 307

836 2 766 3 179 3 974 13 940 6

6 895 7 966 8 618 8 237 27 400 1 242

1 246 3 851 4 222 4 004 8 783 32

5 287 0 0 0 44 218 13

35 806 58 446 64 006 57 048 642 345 3 600

(35 475) (56 942) (61 520) (53 591) (584 419) (3 600)

12 197 (2 183) (2 586) (5 469) (12 453) 8 725

1 269 925 1 453 074 1 782 846 2 403 618 4 202 484 (20)

1 246 647 1 393 949 1 718 740 2 344 558 3 605 612 5 105

(5 481) (7 600) (7 409) (3 195) (15 481) 225 257

(1 150 141) (996 002) (1 255 497) (1 545 456) 5 252 340 0

91 025 390 347 455 834 795 907 8 842 471 230 362

(3 618 687) (4 001 375) (4 218 052) (4 915 948) 9 598 196 (47 113)

(3 527 662) (3 611 028) (3 762 218) (4 120 041) 18 440 667 183 249

5 127 510 4 897 998 5 235 769 4 916 208 41 337 593 1 715 660

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

BNP Paribas Plan



Page 16

Consolidated

Expressed in EUR


Assets 225 855 139





















BNP Paribas Plan



Page 17


31102017 31102018 31102019 31102019

Net assets 1 495 098 1 204 844 0




31102017 31102018 31102019 31102019

Net assets 10 364 899 9 231 506 8 076 991




31102017 31102018 31102019 31102019

Net assets 430 486 852 244 710 381 124 284 827




31102017 31102018 31102019 31102019

Net assets 60 177 916 39 062 615 21 909 006




31102017 31102018 31102019 31102019

Net assets 5 364 799 5 127 510 1 599 848




31102017 31102018 31102019 31102019

Net assets 5 070 980 4 897 998 1 286 970





31102017 31102018 31102019 31102019

Net assets 5 385 036 5 235 769 1 473 551



BNP Paribas Plan



Page 18


31102017 31102018 31102019 31102019

Net assets 5 202 773 4 916 208 796 167





31102017 31102018 31102019 31102019

Net assets 78 097 844 41 337 593 59 778 260




31102017 31102018 31102019 31102019

Net assets 1 947 051 1 715 660 1 898 909





Page 19


assets



Shares 7 659 705 9483

Germany 4 605 763 5701

1 336 ADIDAS AG EUR 369 872 458


5 420 BASF SE EUR 369 807 458






56 182 EON SE EUR 507 716 629



3 232 SAP SE EUR 383 962 475


40 900 ING GROEP NV EUR 414 235 513





Belgium 447 723 554

6 196 UCB SA EUR 447 723 554

France 380 380 471

2 962 AIRBUS SE EUR 380 380 471

Spain 320 284 397

124 867 CAIXABANK EUR 320 284 397

Bonds 405 032 501

France 405 032 501










Page 20


assets



Shares 112 497 521 9052

France 110 131 361 8861


353 061 AXA SA EUR 8 362 250 673

107 919 BNP PARIBAS EUR 5 051 688 406

47 287 BOUYGUES SA EUR 1 796 906 145



52 398 DANONE EUR 3 896 315 313

321 954 ENGIE EUR 4 827 700 388


8 601 KERING EUR 4 388 230 353

10 410 LOREAL EUR 2 725 338 219

16 127 LVMH EUR 6 168 578 496

352 343 ORANGE EUR 5 087 833 409


73 522 RENAULT SA EUR 3 364 367 271

47 551 SAFRAN SA EUR 6 745 109 543




187 230 TOTAL SA EUR 8 825 086 710


59 890 VINCI SA EUR 6 024 934 485

196 155 VIVENDI EUR 4 896 029 394

Germany 1 939 413 157


5 938 BASF SE EUR 405 150 033


3 050 SAP SE EUR 362 340 029



Bonds 6 281 372 505

France 6 281 372 505

5 650 000 BNP PARIBAS 2875 13-26092023 EUR 6 281 372 505


France 3 002 988 242






Page 21


assets



Shares 21 114 236 9637

France 19 767 682 9022


6 115 AIRBUS SE EUR 785 288 358

43 075 AXA SA EUR 1 020 231 466


20 995 DANONE EUR 1 561 188 713

68 136 ENGIE EUR 1 021 699 466


4 167 LOREAL EUR 1 090 921 498

2 706 LVMH EUR 1 035 045 472

78 616 ORANGE EUR 1 135 215 518

4 479 SAFRAN SA EUR 635 346 290




43 000 TOTAL SA EUR 2 026 805 924


15 328 VINCI SA EUR 1 541 997 704

41 069 VIVENDI EUR 1 025 082 468

Germany 1 346 554 615











Page 22


assets



Shares 1 292 618 8079

France 1 292 618 8079

1 637 ACCOR SA EUR 63 057 394

2 692 AXA SA EUR 63 760 399





6 800 ENGIE EUR 101 966 637


114 KERING EUR 58 163 364



4 968 ORANGE EUR 71 738 448


3 192 PEUGEOT SA EUR 72 458 453


1 086 RENAULT SA EUR 49 695 311

1 463 SCOR SE EUR 55 272 345


540 SODEXO SA EUR 53 244 333

958 TOTAL SA EUR 45 155 282









Page 23


assets


France 697 093 5416











Page 24


assets


France 678 173 4602











Page 25


assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world


Page 11



























internal control

















presentation





~CKS


Page 12

BNP Paribas Plan



Page 14




Assets 0 8 596 453 126 344 596 23 089 484



Liabilities 0 519 462 2 059 769 1 180 478


Net asset value 0 8 076 991 124 284 827 21 909 006


assets



Total expenses 0 69 324 2 290 478 559 832






gain(loss) on





the yearperiod (1 204 844) (1 154 515) (120 425 554) (17 153 609)




yearperiod 0 8 076 991 124 284 827 21 909 006

BNP Paribas Plan


Page 15




1 602 310 1 289 800 1 476 477 799 073 60 757 714 1 899 232

1 342 372 844 761 852 563 371 903 49 936 244 1 370 302 765 (1 133) (1 122) 823 (16 316) 527 561

1 343 137 843 628 851 441 372 726 49 919 928 1 897 863

0 0 0 0 2 449 0

28 152 424 562 566 259 360 880 2 139 338 0

229 784 19 475 54 787 59 140 8 694 054 1 369

1 237 2 135 3 990 6 327 1 945 0

2 462 2 830 2 926 2 906 979 454 323

0 0 0 0 921 671 0

0 0 0 0 0 0

2 462 2 830 2 926 2 906 57 783 323

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

331 1 504 2 486 3 457 57 926 0

21 542 43 863 47 987 40 833 548 004 2 307

836 2 766 3 179 3 974 13 940 6

6 895 7 966 8 618 8 237 27 400 1 242

1 246 3 851 4 222 4 004 8 783 32

5 287 0 0 0 44 218 13

35 806 58 446 64 006 57 048 642 345 3 600

(35 475) (56 942) (61 520) (53 591) (584 419) (3 600)

12 197 (2 183) (2 586) (5 469) (12 453) 8 725

1 269 925 1 453 074 1 782 846 2 403 618 4 202 484 (20)

1 246 647 1 393 949 1 718 740 2 344 558 3 605 612 5 105

(5 481) (7 600) (7 409) (3 195) (15 481) 225 257

(1 150 141) (996 002) (1 255 497) (1 545 456) 5 252 340 0

91 025 390 347 455 834 795 907 8 842 471 230 362

(3 618 687) (4 001 375) (4 218 052) (4 915 948) 9 598 196 (47 113)

(3 527 662) (3 611 028) (3 762 218) (4 120 041) 18 440 667 183 249

5 127 510 4 897 998 5 235 769 4 916 208 41 337 593 1 715 660

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

BNP Paribas Plan



Page 16

Consolidated

Expressed in EUR


Assets 225 855 139





















BNP Paribas Plan



Page 17


31102017 31102018 31102019 31102019

Net assets 1 495 098 1 204 844 0




31102017 31102018 31102019 31102019

Net assets 10 364 899 9 231 506 8 076 991




31102017 31102018 31102019 31102019

Net assets 430 486 852 244 710 381 124 284 827




31102017 31102018 31102019 31102019

Net assets 60 177 916 39 062 615 21 909 006




31102017 31102018 31102019 31102019

Net assets 5 364 799 5 127 510 1 599 848




31102017 31102018 31102019 31102019

Net assets 5 070 980 4 897 998 1 286 970





31102017 31102018 31102019 31102019

Net assets 5 385 036 5 235 769 1 473 551



BNP Paribas Plan



Page 18


31102017 31102018 31102019 31102019

Net assets 5 202 773 4 916 208 796 167





31102017 31102018 31102019 31102019

Net assets 78 097 844 41 337 593 59 778 260




31102017 31102018 31102019 31102019

Net assets 1 947 051 1 715 660 1 898 909





Page 19


assets



Shares 7 659 705 9483

Germany 4 605 763 5701

1 336 ADIDAS AG EUR 369 872 458


5 420 BASF SE EUR 369 807 458






56 182 EON SE EUR 507 716 629



3 232 SAP SE EUR 383 962 475


40 900 ING GROEP NV EUR 414 235 513





Belgium 447 723 554

6 196 UCB SA EUR 447 723 554

France 380 380 471

2 962 AIRBUS SE EUR 380 380 471

Spain 320 284 397

124 867 CAIXABANK EUR 320 284 397

Bonds 405 032 501

France 405 032 501










Page 20


assets



Shares 112 497 521 9052

France 110 131 361 8861


353 061 AXA SA EUR 8 362 250 673

107 919 BNP PARIBAS EUR 5 051 688 406

47 287 BOUYGUES SA EUR 1 796 906 145



52 398 DANONE EUR 3 896 315 313

321 954 ENGIE EUR 4 827 700 388


8 601 KERING EUR 4 388 230 353

10 410 LOREAL EUR 2 725 338 219

16 127 LVMH EUR 6 168 578 496

352 343 ORANGE EUR 5 087 833 409


73 522 RENAULT SA EUR 3 364 367 271

47 551 SAFRAN SA EUR 6 745 109 543




187 230 TOTAL SA EUR 8 825 086 710


59 890 VINCI SA EUR 6 024 934 485

196 155 VIVENDI EUR 4 896 029 394

Germany 1 939 413 157


5 938 BASF SE EUR 405 150 033


3 050 SAP SE EUR 362 340 029



Bonds 6 281 372 505

France 6 281 372 505

5 650 000 BNP PARIBAS 2875 13-26092023 EUR 6 281 372 505


France 3 002 988 242






Page 21


assets



Shares 21 114 236 9637

France 19 767 682 9022


6 115 AIRBUS SE EUR 785 288 358

43 075 AXA SA EUR 1 020 231 466


20 995 DANONE EUR 1 561 188 713

68 136 ENGIE EUR 1 021 699 466


4 167 LOREAL EUR 1 090 921 498

2 706 LVMH EUR 1 035 045 472

78 616 ORANGE EUR 1 135 215 518

4 479 SAFRAN SA EUR 635 346 290




43 000 TOTAL SA EUR 2 026 805 924


15 328 VINCI SA EUR 1 541 997 704

41 069 VIVENDI EUR 1 025 082 468

Germany 1 346 554 615











Page 22


assets



Shares 1 292 618 8079

France 1 292 618 8079

1 637 ACCOR SA EUR 63 057 394

2 692 AXA SA EUR 63 760 399





6 800 ENGIE EUR 101 966 637


114 KERING EUR 58 163 364



4 968 ORANGE EUR 71 738 448


3 192 PEUGEOT SA EUR 72 458 453


1 086 RENAULT SA EUR 49 695 311

1 463 SCOR SE EUR 55 272 345


540 SODEXO SA EUR 53 244 333

958 TOTAL SA EUR 45 155 282









Page 23


assets


France 697 093 5416











Page 24


assets


France 678 173 4602











Page 25


assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world





~CKS


Page 12

Page 13

BNP Paribas Plan






Assets 0 8 596 453 126 344 596 23 089 484



Liabilities 0 519 462 2 059 769 1 180 478


Net asset value 0 8 076 991 124 284 827 21 909 006


assets



Total expenses 0 69 324 2 290 478 559 832






gain(loss) on





the yearperiod (1 204 844) (1 154 515) (120 425 554) (17 153 609)




yearperiod 0 8 076 991 124 284 827 21 909 006

BNP Paribas Plan


Page 15




1 602 310 1 289 800 1 476 477 799 073 60 757 714 1 899 232

1 342 372 844 761 852 563 371 903 49 936 244 1 370 302 765 (1 133) (1 122) 823 (16 316) 527 561

1 343 137 843 628 851 441 372 726 49 919 928 1 897 863

0 0 0 0 2 449 0

28 152 424 562 566 259 360 880 2 139 338 0

229 784 19 475 54 787 59 140 8 694 054 1 369

1 237 2 135 3 990 6 327 1 945 0

2 462 2 830 2 926 2 906 979 454 323

0 0 0 0 921 671 0

0 0 0 0 0 0

2 462 2 830 2 926 2 906 57 783 323

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

331 1 504 2 486 3 457 57 926 0

21 542 43 863 47 987 40 833 548 004 2 307

836 2 766 3 179 3 974 13 940 6

6 895 7 966 8 618 8 237 27 400 1 242

1 246 3 851 4 222 4 004 8 783 32

5 287 0 0 0 44 218 13

35 806 58 446 64 006 57 048 642 345 3 600

(35 475) (56 942) (61 520) (53 591) (584 419) (3 600)

12 197 (2 183) (2 586) (5 469) (12 453) 8 725

1 269 925 1 453 074 1 782 846 2 403 618 4 202 484 (20)

1 246 647 1 393 949 1 718 740 2 344 558 3 605 612 5 105

(5 481) (7 600) (7 409) (3 195) (15 481) 225 257

(1 150 141) (996 002) (1 255 497) (1 545 456) 5 252 340 0

91 025 390 347 455 834 795 907 8 842 471 230 362

(3 618 687) (4 001 375) (4 218 052) (4 915 948) 9 598 196 (47 113)

(3 527 662) (3 611 028) (3 762 218) (4 120 041) 18 440 667 183 249

5 127 510 4 897 998 5 235 769 4 916 208 41 337 593 1 715 660

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

BNP Paribas Plan



Page 16

Consolidated

Expressed in EUR


Assets 225 855 139





















BNP Paribas Plan



Page 17


31102017 31102018 31102019 31102019

Net assets 1 495 098 1 204 844 0




31102017 31102018 31102019 31102019

Net assets 10 364 899 9 231 506 8 076 991




31102017 31102018 31102019 31102019

Net assets 430 486 852 244 710 381 124 284 827




31102017 31102018 31102019 31102019

Net assets 60 177 916 39 062 615 21 909 006




31102017 31102018 31102019 31102019

Net assets 5 364 799 5 127 510 1 599 848




31102017 31102018 31102019 31102019

Net assets 5 070 980 4 897 998 1 286 970





31102017 31102018 31102019 31102019

Net assets 5 385 036 5 235 769 1 473 551



BNP Paribas Plan



Page 18


31102017 31102018 31102019 31102019

Net assets 5 202 773 4 916 208 796 167





31102017 31102018 31102019 31102019

Net assets 78 097 844 41 337 593 59 778 260




31102017 31102018 31102019 31102019

Net assets 1 947 051 1 715 660 1 898 909





Page 19


assets



Shares 7 659 705 9483

Germany 4 605 763 5701

1 336 ADIDAS AG EUR 369 872 458


5 420 BASF SE EUR 369 807 458






56 182 EON SE EUR 507 716 629



3 232 SAP SE EUR 383 962 475


40 900 ING GROEP NV EUR 414 235 513





Belgium 447 723 554

6 196 UCB SA EUR 447 723 554

France 380 380 471

2 962 AIRBUS SE EUR 380 380 471

Spain 320 284 397

124 867 CAIXABANK EUR 320 284 397

Bonds 405 032 501

France 405 032 501










Page 20


assets



Shares 112 497 521 9052

France 110 131 361 8861


353 061 AXA SA EUR 8 362 250 673

107 919 BNP PARIBAS EUR 5 051 688 406

47 287 BOUYGUES SA EUR 1 796 906 145



52 398 DANONE EUR 3 896 315 313

321 954 ENGIE EUR 4 827 700 388


8 601 KERING EUR 4 388 230 353

10 410 LOREAL EUR 2 725 338 219

16 127 LVMH EUR 6 168 578 496

352 343 ORANGE EUR 5 087 833 409


73 522 RENAULT SA EUR 3 364 367 271

47 551 SAFRAN SA EUR 6 745 109 543




187 230 TOTAL SA EUR 8 825 086 710


59 890 VINCI SA EUR 6 024 934 485

196 155 VIVENDI EUR 4 896 029 394

Germany 1 939 413 157


5 938 BASF SE EUR 405 150 033


3 050 SAP SE EUR 362 340 029



Bonds 6 281 372 505

France 6 281 372 505

5 650 000 BNP PARIBAS 2875 13-26092023 EUR 6 281 372 505


France 3 002 988 242






Page 21


assets



Shares 21 114 236 9637

France 19 767 682 9022


6 115 AIRBUS SE EUR 785 288 358

43 075 AXA SA EUR 1 020 231 466


20 995 DANONE EUR 1 561 188 713

68 136 ENGIE EUR 1 021 699 466


4 167 LOREAL EUR 1 090 921 498

2 706 LVMH EUR 1 035 045 472

78 616 ORANGE EUR 1 135 215 518

4 479 SAFRAN SA EUR 635 346 290




43 000 TOTAL SA EUR 2 026 805 924


15 328 VINCI SA EUR 1 541 997 704

41 069 VIVENDI EUR 1 025 082 468

Germany 1 346 554 615











Page 22


assets



Shares 1 292 618 8079

France 1 292 618 8079

1 637 ACCOR SA EUR 63 057 394

2 692 AXA SA EUR 63 760 399





6 800 ENGIE EUR 101 966 637


114 KERING EUR 58 163 364



4 968 ORANGE EUR 71 738 448


3 192 PEUGEOT SA EUR 72 458 453


1 086 RENAULT SA EUR 49 695 311

1 463 SCOR SE EUR 55 272 345


540 SODEXO SA EUR 53 244 333

958 TOTAL SA EUR 45 155 282









Page 23


assets


France 697 093 5416











Page 24


assets


France 678 173 4602











Page 25


assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan



Page 14




Assets 0 8 596 453 126 344 596 23 089 484



Liabilities 0 519 462 2 059 769 1 180 478


Net asset value 0 8 076 991 124 284 827 21 909 006


assets



Total expenses 0 69 324 2 290 478 559 832






gain(loss) on





the yearperiod (1 204 844) (1 154 515) (120 425 554) (17 153 609)




yearperiod 0 8 076 991 124 284 827 21 909 006

BNP Paribas Plan





1 602 310 1 289 800 1 476 477 799 073 60 757 714 1 899 232

1 342 372 844 761 852 563 371 903 49 936 244 1 370 302 765 (1 133) (1 122) 823 (16 316) 527 561

1 343 137 843 628 851 441 372 726 49 919 928 1 897 863

0 0 0 0 2 449 0

28 152 424 562 566 259 360 880 2 139 338 0

229 784 19 475 54 787 59 140 8 694 054 1 369

1 237 2 135 3 990 6 327 1 945 0

2 462 2 830 2 926 2 906 979 454 323

0 0 0 0 921 671 0

0 0 0 0 0 0

2 462 2 830 2 926 2 906 57 783 323

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

331 1 504 2 486 3 457 57 926 0

21 542 43 863 47 987 40 833 548 004 2 307

836 2 766 3 179 3 974 13 940 6

6 895 7 966 8 618 8 237 27 400 1 242

1 246 3 851 4 222 4 004 8 783 32

5 287 0 0 0 44 218 13

35 806 58 446 64 006 57 048 642 345 3 600

(35 475) (56 942) (61 520) (53 591) (584 419) (3 600)

12 197 (2 183) (2 586) (5 469) (12 453) 8 725

1 269 925 1 453 074 1 782 846 2 403 618 4 202 484 (20)

1 246 647 1 393 949 1 718 740 2 344 558 3 605 612 5 105

(5 481) (7 600) (7 409) (3 195) (15 481) 225 257

(1 150 141) (996 002) (1 255 497) (1 545 456) 5 252 340 0

91 025 390 347 455 834 795 907 8 842 471 230 362

(3 618 687) (4 001 375) (4 218 052) (4 915 948) 9 598 196 (47 113)

(3 527 662) (3 611 028) (3 762 218) (4 120 041) 18 440 667 183 249

5 127 510 4 897 998 5 235 769 4 916 208 41 337 593 1 715 660

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

BNP Paribas Plan



Page 16

Consolidated

Expressed in EUR


Assets 225 855 139





















BNP Paribas Plan



Page 17


31102017 31102018 31102019 31102019

Net assets 1 495 098 1 204 844 0




31102017 31102018 31102019 31102019

Net assets 10 364 899 9 231 506 8 076 991




31102017 31102018 31102019 31102019

Net assets 430 486 852 244 710 381 124 284 827




31102017 31102018 31102019 31102019

Net assets 60 177 916 39 062 615 21 909 006




31102017 31102018 31102019 31102019

Net assets 5 364 799 5 127 510 1 599 848




31102017 31102018 31102019 31102019

Net assets 5 070 980 4 897 998 1 286 970





31102017 31102018 31102019 31102019

Net assets 5 385 036 5 235 769 1 473 551



BNP Paribas Plan



Page 18


31102017 31102018 31102019 31102019

Net assets 5 202 773 4 916 208 796 167





31102017 31102018 31102019 31102019

Net assets 78 097 844 41 337 593 59 778 260




31102017 31102018 31102019 31102019

Net assets 1 947 051 1 715 660 1 898 909





Page 19


assets



Shares 7 659 705 9483

Germany 4 605 763 5701

1 336 ADIDAS AG EUR 369 872 458


5 420 BASF SE EUR 369 807 458






56 182 EON SE EUR 507 716 629



3 232 SAP SE EUR 383 962 475


40 900 ING GROEP NV EUR 414 235 513





Belgium 447 723 554

6 196 UCB SA EUR 447 723 554

France 380 380 471

2 962 AIRBUS SE EUR 380 380 471

Spain 320 284 397

124 867 CAIXABANK EUR 320 284 397

Bonds 405 032 501

France 405 032 501










Page 20


assets



Shares 112 497 521 9052

France 110 131 361 8861


353 061 AXA SA EUR 8 362 250 673

107 919 BNP PARIBAS EUR 5 051 688 406

47 287 BOUYGUES SA EUR 1 796 906 145



52 398 DANONE EUR 3 896 315 313

321 954 ENGIE EUR 4 827 700 388


8 601 KERING EUR 4 388 230 353

10 410 LOREAL EUR 2 725 338 219

16 127 LVMH EUR 6 168 578 496

352 343 ORANGE EUR 5 087 833 409


73 522 RENAULT SA EUR 3 364 367 271

47 551 SAFRAN SA EUR 6 745 109 543




187 230 TOTAL SA EUR 8 825 086 710


59 890 VINCI SA EUR 6 024 934 485

196 155 VIVENDI EUR 4 896 029 394

Germany 1 939 413 157


5 938 BASF SE EUR 405 150 033


3 050 SAP SE EUR 362 340 029



Bonds 6 281 372 505

France 6 281 372 505

5 650 000 BNP PARIBAS 2875 13-26092023 EUR 6 281 372 505


France 3 002 988 242






Page 21


assets



Shares 21 114 236 9637

France 19 767 682 9022


6 115 AIRBUS SE EUR 785 288 358

43 075 AXA SA EUR 1 020 231 466


20 995 DANONE EUR 1 561 188 713

68 136 ENGIE EUR 1 021 699 466


4 167 LOREAL EUR 1 090 921 498

2 706 LVMH EUR 1 035 045 472

78 616 ORANGE EUR 1 135 215 518

4 479 SAFRAN SA EUR 635 346 290




43 000 TOTAL SA EUR 2 026 805 924


15 328 VINCI SA EUR 1 541 997 704

41 069 VIVENDI EUR 1 025 082 468

Germany 1 346 554 615











Page 22


assets



Shares 1 292 618 8079

France 1 292 618 8079

1 637 ACCOR SA EUR 63 057 394

2 692 AXA SA EUR 63 760 399





6 800 ENGIE EUR 101 966 637


114 KERING EUR 58 163 364



4 968 ORANGE EUR 71 738 448


3 192 PEUGEOT SA EUR 72 458 453


1 086 RENAULT SA EUR 49 695 311

1 463 SCOR SE EUR 55 272 345


540 SODEXO SA EUR 53 244 333

958 TOTAL SA EUR 45 155 282









Page 23


assets


France 697 093 5416











Page 24


assets


France 678 173 4602











Page 25


assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan



Page 14




Assets 0 8 596 453 126 344 596 23 089 484



Liabilities 0 519 462 2 059 769 1 180 478


Net asset value 0 8 076 991 124 284 827 21 909 006


assets



Total expenses 0 69 324 2 290 478 559 832






gain(loss) on





the yearperiod (1 204 844) (1 154 515) (120 425 554) (17 153 609)




yearperiod 0 8 076 991 124 284 827 21 909 006

BNP Paribas Plan


Page 15




1 602 310 1 289 800 1 476 477 799 073 60 757 714 1 899 232

1 342 372 844 761 852 563 371 903 49 936 244 1 370 302 765 (1 133) (1 122) 823 (16 316) 527 561

1 343 137 843 628 851 441 372 726 49 919 928 1 897 863

0 0 0 0 2 449 0

28 152 424 562 566 259 360 880 2 139 338 0

229 784 19 475 54 787 59 140 8 694 054 1 369

1 237 2 135 3 990 6 327 1 945 0

2 462 2 830 2 926 2 906 979 454 323

0 0 0 0 921 671 0

0 0 0 0 0 0

2 462 2 830 2 926 2 906 57 783 323

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

331 1 504 2 486 3 457 57 926 0

21 542 43 863 47 987 40 833 548 004 2 307

836 2 766 3 179 3 974 13 940 6

6 895 7 966 8 618 8 237 27 400 1 242

1 246 3 851 4 222 4 004 8 783 32

5 287 0 0 0 44 218 13

35 806 58 446 64 006 57 048 642 345 3 600

(35 475) (56 942) (61 520) (53 591) (584 419) (3 600)

12 197 (2 183) (2 586) (5 469) (12 453) 8 725

1 269 925 1 453 074 1 782 846 2 403 618 4 202 484 (20)

1 246 647 1 393 949 1 718 740 2 344 558 3 605 612 5 105

(5 481) (7 600) (7 409) (3 195) (15 481) 225 257

(1 150 141) (996 002) (1 255 497) (1 545 456) 5 252 340 0

91 025 390 347 455 834 795 907 8 842 471 230 362

(3 618 687) (4 001 375) (4 218 052) (4 915 948) 9 598 196 (47 113)

(3 527 662) (3 611 028) (3 762 218) (4 120 041) 18 440 667 183 249

5 127 510 4 897 998 5 235 769 4 916 208 41 337 593 1 715 660

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

BNP Paribas Plan



Consolidated

Expressed in EUR


Assets 225 855 139





















BNP Paribas Plan



Page 17


31102017 31102018 31102019 31102019

Net assets 1 495 098 1 204 844 0




31102017 31102018 31102019 31102019

Net assets 10 364 899 9 231 506 8 076 991




31102017 31102018 31102019 31102019

Net assets 430 486 852 244 710 381 124 284 827




31102017 31102018 31102019 31102019

Net assets 60 177 916 39 062 615 21 909 006




31102017 31102018 31102019 31102019

Net assets 5 364 799 5 127 510 1 599 848




31102017 31102018 31102019 31102019

Net assets 5 070 980 4 897 998 1 286 970





31102017 31102018 31102019 31102019

Net assets 5 385 036 5 235 769 1 473 551



BNP Paribas Plan



Page 18


31102017 31102018 31102019 31102019

Net assets 5 202 773 4 916 208 796 167





31102017 31102018 31102019 31102019

Net assets 78 097 844 41 337 593 59 778 260




31102017 31102018 31102019 31102019

Net assets 1 947 051 1 715 660 1 898 909





Page 19


assets



Shares 7 659 705 9483

Germany 4 605 763 5701

1 336 ADIDAS AG EUR 369 872 458


5 420 BASF SE EUR 369 807 458






56 182 EON SE EUR 507 716 629



3 232 SAP SE EUR 383 962 475


40 900 ING GROEP NV EUR 414 235 513





Belgium 447 723 554

6 196 UCB SA EUR 447 723 554

France 380 380 471

2 962 AIRBUS SE EUR 380 380 471

Spain 320 284 397

124 867 CAIXABANK EUR 320 284 397

Bonds 405 032 501

France 405 032 501










Page 20


assets



Shares 112 497 521 9052

France 110 131 361 8861


353 061 AXA SA EUR 8 362 250 673

107 919 BNP PARIBAS EUR 5 051 688 406

47 287 BOUYGUES SA EUR 1 796 906 145



52 398 DANONE EUR 3 896 315 313

321 954 ENGIE EUR 4 827 700 388


8 601 KERING EUR 4 388 230 353

10 410 LOREAL EUR 2 725 338 219

16 127 LVMH EUR 6 168 578 496

352 343 ORANGE EUR 5 087 833 409


73 522 RENAULT SA EUR 3 364 367 271

47 551 SAFRAN SA EUR 6 745 109 543




187 230 TOTAL SA EUR 8 825 086 710


59 890 VINCI SA EUR 6 024 934 485

196 155 VIVENDI EUR 4 896 029 394

Germany 1 939 413 157


5 938 BASF SE EUR 405 150 033


3 050 SAP SE EUR 362 340 029



Bonds 6 281 372 505

France 6 281 372 505

5 650 000 BNP PARIBAS 2875 13-26092023 EUR 6 281 372 505


France 3 002 988 242






Page 21


assets



Shares 21 114 236 9637

France 19 767 682 9022


6 115 AIRBUS SE EUR 785 288 358

43 075 AXA SA EUR 1 020 231 466


20 995 DANONE EUR 1 561 188 713

68 136 ENGIE EUR 1 021 699 466


4 167 LOREAL EUR 1 090 921 498

2 706 LVMH EUR 1 035 045 472

78 616 ORANGE EUR 1 135 215 518

4 479 SAFRAN SA EUR 635 346 290




43 000 TOTAL SA EUR 2 026 805 924


15 328 VINCI SA EUR 1 541 997 704

41 069 VIVENDI EUR 1 025 082 468

Germany 1 346 554 615











Page 22


assets



Shares 1 292 618 8079

France 1 292 618 8079

1 637 ACCOR SA EUR 63 057 394

2 692 AXA SA EUR 63 760 399





6 800 ENGIE EUR 101 966 637


114 KERING EUR 58 163 364



4 968 ORANGE EUR 71 738 448


3 192 PEUGEOT SA EUR 72 458 453


1 086 RENAULT SA EUR 49 695 311

1 463 SCOR SE EUR 55 272 345


540 SODEXO SA EUR 53 244 333

958 TOTAL SA EUR 45 155 282









Page 23


assets


France 697 093 5416











Page 24


assets


France 678 173 4602











Page 25


assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan


Page 15




1 602 310 1 289 800 1 476 477 799 073 60 757 714 1 899 232

1 342 372 844 761 852 563 371 903 49 936 244 1 370 302 765 (1 133) (1 122) 823 (16 316) 527 561

1 343 137 843 628 851 441 372 726 49 919 928 1 897 863

0 0 0 0 2 449 0

28 152 424 562 566 259 360 880 2 139 338 0

229 784 19 475 54 787 59 140 8 694 054 1 369

1 237 2 135 3 990 6 327 1 945 0

2 462 2 830 2 926 2 906 979 454 323

0 0 0 0 921 671 0

0 0 0 0 0 0

2 462 2 830 2 926 2 906 57 783 323

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

331 1 504 2 486 3 457 57 926 0

21 542 43 863 47 987 40 833 548 004 2 307

836 2 766 3 179 3 974 13 940 6

6 895 7 966 8 618 8 237 27 400 1 242

1 246 3 851 4 222 4 004 8 783 32

5 287 0 0 0 44 218 13

35 806 58 446 64 006 57 048 642 345 3 600

(35 475) (56 942) (61 520) (53 591) (584 419) (3 600)

12 197 (2 183) (2 586) (5 469) (12 453) 8 725

1 269 925 1 453 074 1 782 846 2 403 618 4 202 484 (20)

1 246 647 1 393 949 1 718 740 2 344 558 3 605 612 5 105

(5 481) (7 600) (7 409) (3 195) (15 481) 225 257

(1 150 141) (996 002) (1 255 497) (1 545 456) 5 252 340 0

91 025 390 347 455 834 795 907 8 842 471 230 362

(3 618 687) (4 001 375) (4 218 052) (4 915 948) 9 598 196 (47 113)

(3 527 662) (3 611 028) (3 762 218) (4 120 041) 18 440 667 183 249

5 127 510 4 897 998 5 235 769 4 916 208 41 337 593 1 715 660

1 599 848 1 286 970 1 473 551 796 167 59 778 260 1 898 909

BNP Paribas Plan



Page 16

Consolidated

Expressed in EUR


Assets 225 855 139





















BNP Paribas Plan




31102017 31102018 31102019 31102019

Net assets 1 495 098 1 204 844 0




31102017 31102018 31102019 31102019

Net assets 10 364 899 9 231 506 8 076 991




31102017 31102018 31102019 31102019

Net assets 430 486 852 244 710 381 124 284 827




31102017 31102018 31102019 31102019

Net assets 60 177 916 39 062 615 21 909 006




31102017 31102018 31102019 31102019

Net assets 5 364 799 5 127 510 1 599 848




31102017 31102018 31102019 31102019

Net assets 5 070 980 4 897 998 1 286 970





31102017 31102018 31102019 31102019

Net assets 5 385 036 5 235 769 1 473 551



BNP Paribas Plan



Page 18


31102017 31102018 31102019 31102019

Net assets 5 202 773 4 916 208 796 167





31102017 31102018 31102019 31102019

Net assets 78 097 844 41 337 593 59 778 260




31102017 31102018 31102019 31102019

Net assets 1 947 051 1 715 660 1 898 909





Page 19


assets



Shares 7 659 705 9483

Germany 4 605 763 5701

1 336 ADIDAS AG EUR 369 872 458


5 420 BASF SE EUR 369 807 458






56 182 EON SE EUR 507 716 629



3 232 SAP SE EUR 383 962 475


40 900 ING GROEP NV EUR 414 235 513





Belgium 447 723 554

6 196 UCB SA EUR 447 723 554

France 380 380 471

2 962 AIRBUS SE EUR 380 380 471

Spain 320 284 397

124 867 CAIXABANK EUR 320 284 397

Bonds 405 032 501

France 405 032 501










Page 20


assets



Shares 112 497 521 9052

France 110 131 361 8861


353 061 AXA SA EUR 8 362 250 673

107 919 BNP PARIBAS EUR 5 051 688 406

47 287 BOUYGUES SA EUR 1 796 906 145



52 398 DANONE EUR 3 896 315 313

321 954 ENGIE EUR 4 827 700 388


8 601 KERING EUR 4 388 230 353

10 410 LOREAL EUR 2 725 338 219

16 127 LVMH EUR 6 168 578 496

352 343 ORANGE EUR 5 087 833 409


73 522 RENAULT SA EUR 3 364 367 271

47 551 SAFRAN SA EUR 6 745 109 543




187 230 TOTAL SA EUR 8 825 086 710


59 890 VINCI SA EUR 6 024 934 485

196 155 VIVENDI EUR 4 896 029 394

Germany 1 939 413 157


5 938 BASF SE EUR 405 150 033


3 050 SAP SE EUR 362 340 029



Bonds 6 281 372 505

France 6 281 372 505

5 650 000 BNP PARIBAS 2875 13-26092023 EUR 6 281 372 505


France 3 002 988 242






Page 21


assets



Shares 21 114 236 9637

France 19 767 682 9022


6 115 AIRBUS SE EUR 785 288 358

43 075 AXA SA EUR 1 020 231 466


20 995 DANONE EUR 1 561 188 713

68 136 ENGIE EUR 1 021 699 466


4 167 LOREAL EUR 1 090 921 498

2 706 LVMH EUR 1 035 045 472

78 616 ORANGE EUR 1 135 215 518

4 479 SAFRAN SA EUR 635 346 290




43 000 TOTAL SA EUR 2 026 805 924


15 328 VINCI SA EUR 1 541 997 704

41 069 VIVENDI EUR 1 025 082 468

Germany 1 346 554 615











Page 22


assets



Shares 1 292 618 8079

France 1 292 618 8079

1 637 ACCOR SA EUR 63 057 394

2 692 AXA SA EUR 63 760 399





6 800 ENGIE EUR 101 966 637


114 KERING EUR 58 163 364



4 968 ORANGE EUR 71 738 448


3 192 PEUGEOT SA EUR 72 458 453


1 086 RENAULT SA EUR 49 695 311

1 463 SCOR SE EUR 55 272 345


540 SODEXO SA EUR 53 244 333

958 TOTAL SA EUR 45 155 282









Page 23


assets


France 697 093 5416











Page 24


assets


France 678 173 4602











Page 25


assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan



Page 16

Consolidated

Expressed in EUR


Assets 225 855 139





















BNP Paribas Plan



Page 17


31102017 31102018 31102019 31102019

Net assets 1 495 098 1 204 844 0




31102017 31102018 31102019 31102019

Net assets 10 364 899 9 231 506 8 076 991




31102017 31102018 31102019 31102019

Net assets 430 486 852 244 710 381 124 284 827




31102017 31102018 31102019 31102019

Net assets 60 177 916 39 062 615 21 909 006




31102017 31102018 31102019 31102019

Net assets 5 364 799 5 127 510 1 599 848




31102017 31102018 31102019 31102019

Net assets 5 070 980 4 897 998 1 286 970





31102017 31102018 31102019 31102019

Net assets 5 385 036 5 235 769 1 473 551



BNP Paribas Plan




31102017 31102018 31102019 31102019

Net assets 5 202 773 4 916 208 796 167





31102017 31102018 31102019 31102019

Net assets 78 097 844 41 337 593 59 778 260




31102017 31102018 31102019 31102019

Net assets 1 947 051 1 715 660 1 898 909





Page 19


assets



Shares 7 659 705 9483

Germany 4 605 763 5701

1 336 ADIDAS AG EUR 369 872 458


5 420 BASF SE EUR 369 807 458






56 182 EON SE EUR 507 716 629



3 232 SAP SE EUR 383 962 475


40 900 ING GROEP NV EUR 414 235 513





Belgium 447 723 554

6 196 UCB SA EUR 447 723 554

France 380 380 471

2 962 AIRBUS SE EUR 380 380 471

Spain 320 284 397

124 867 CAIXABANK EUR 320 284 397

Bonds 405 032 501

France 405 032 501










Page 20


assets



Shares 112 497 521 9052

France 110 131 361 8861


353 061 AXA SA EUR 8 362 250 673

107 919 BNP PARIBAS EUR 5 051 688 406

47 287 BOUYGUES SA EUR 1 796 906 145



52 398 DANONE EUR 3 896 315 313

321 954 ENGIE EUR 4 827 700 388


8 601 KERING EUR 4 388 230 353

10 410 LOREAL EUR 2 725 338 219

16 127 LVMH EUR 6 168 578 496

352 343 ORANGE EUR 5 087 833 409


73 522 RENAULT SA EUR 3 364 367 271

47 551 SAFRAN SA EUR 6 745 109 543




187 230 TOTAL SA EUR 8 825 086 710


59 890 VINCI SA EUR 6 024 934 485

196 155 VIVENDI EUR 4 896 029 394

Germany 1 939 413 157


5 938 BASF SE EUR 405 150 033


3 050 SAP SE EUR 362 340 029



Bonds 6 281 372 505

France 6 281 372 505

5 650 000 BNP PARIBAS 2875 13-26092023 EUR 6 281 372 505


France 3 002 988 242






Page 21


assets



Shares 21 114 236 9637

France 19 767 682 9022


6 115 AIRBUS SE EUR 785 288 358

43 075 AXA SA EUR 1 020 231 466


20 995 DANONE EUR 1 561 188 713

68 136 ENGIE EUR 1 021 699 466


4 167 LOREAL EUR 1 090 921 498

2 706 LVMH EUR 1 035 045 472

78 616 ORANGE EUR 1 135 215 518

4 479 SAFRAN SA EUR 635 346 290




43 000 TOTAL SA EUR 2 026 805 924


15 328 VINCI SA EUR 1 541 997 704

41 069 VIVENDI EUR 1 025 082 468

Germany 1 346 554 615











Page 22


assets



Shares 1 292 618 8079

France 1 292 618 8079

1 637 ACCOR SA EUR 63 057 394

2 692 AXA SA EUR 63 760 399





6 800 ENGIE EUR 101 966 637


114 KERING EUR 58 163 364



4 968 ORANGE EUR 71 738 448


3 192 PEUGEOT SA EUR 72 458 453


1 086 RENAULT SA EUR 49 695 311

1 463 SCOR SE EUR 55 272 345


540 SODEXO SA EUR 53 244 333

958 TOTAL SA EUR 45 155 282









Page 23


assets


France 697 093 5416











Page 24


assets


France 678 173 4602











Page 25


assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan



Page 17


31102017 31102018 31102019 31102019

Net assets 1 495 098 1 204 844 0




31102017 31102018 31102019 31102019

Net assets 10 364 899 9 231 506 8 076 991




31102017 31102018 31102019 31102019

Net assets 430 486 852 244 710 381 124 284 827




31102017 31102018 31102019 31102019

Net assets 60 177 916 39 062 615 21 909 006




31102017 31102018 31102019 31102019

Net assets 5 364 799 5 127 510 1 599 848




31102017 31102018 31102019 31102019

Net assets 5 070 980 4 897 998 1 286 970





31102017 31102018 31102019 31102019

Net assets 5 385 036 5 235 769 1 473 551



BNP Paribas Plan



Page 18


31102017 31102018 31102019 31102019

Net assets 5 202 773 4 916 208 796 167





31102017 31102018 31102019 31102019

Net assets 78 097 844 41 337 593 59 778 260




31102017 31102018 31102019 31102019

Net assets 1 947 051 1 715 660 1 898 909






assets



Shares 7 659 705 9483

Germany 4 605 763 5701

1 336 ADIDAS AG EUR 369 872 458


5 420 BASF SE EUR 369 807 458






56 182 EON SE EUR 507 716 629



3 232 SAP SE EUR 383 962 475


40 900 ING GROEP NV EUR 414 235 513





Belgium 447 723 554

6 196 UCB SA EUR 447 723 554

France 380 380 471

2 962 AIRBUS SE EUR 380 380 471

Spain 320 284 397

124 867 CAIXABANK EUR 320 284 397

Bonds 405 032 501

France 405 032 501










Page 20


assets



Shares 112 497 521 9052

France 110 131 361 8861


353 061 AXA SA EUR 8 362 250 673

107 919 BNP PARIBAS EUR 5 051 688 406

47 287 BOUYGUES SA EUR 1 796 906 145



52 398 DANONE EUR 3 896 315 313

321 954 ENGIE EUR 4 827 700 388


8 601 KERING EUR 4 388 230 353

10 410 LOREAL EUR 2 725 338 219

16 127 LVMH EUR 6 168 578 496

352 343 ORANGE EUR 5 087 833 409


73 522 RENAULT SA EUR 3 364 367 271

47 551 SAFRAN SA EUR 6 745 109 543




187 230 TOTAL SA EUR 8 825 086 710


59 890 VINCI SA EUR 6 024 934 485

196 155 VIVENDI EUR 4 896 029 394

Germany 1 939 413 157


5 938 BASF SE EUR 405 150 033


3 050 SAP SE EUR 362 340 029



Bonds 6 281 372 505

France 6 281 372 505

5 650 000 BNP PARIBAS 2875 13-26092023 EUR 6 281 372 505


France 3 002 988 242






Page 21


assets



Shares 21 114 236 9637

France 19 767 682 9022


6 115 AIRBUS SE EUR 785 288 358

43 075 AXA SA EUR 1 020 231 466


20 995 DANONE EUR 1 561 188 713

68 136 ENGIE EUR 1 021 699 466


4 167 LOREAL EUR 1 090 921 498

2 706 LVMH EUR 1 035 045 472

78 616 ORANGE EUR 1 135 215 518

4 479 SAFRAN SA EUR 635 346 290




43 000 TOTAL SA EUR 2 026 805 924


15 328 VINCI SA EUR 1 541 997 704

41 069 VIVENDI EUR 1 025 082 468

Germany 1 346 554 615











Page 22


assets



Shares 1 292 618 8079

France 1 292 618 8079

1 637 ACCOR SA EUR 63 057 394

2 692 AXA SA EUR 63 760 399





6 800 ENGIE EUR 101 966 637


114 KERING EUR 58 163 364



4 968 ORANGE EUR 71 738 448


3 192 PEUGEOT SA EUR 72 458 453


1 086 RENAULT SA EUR 49 695 311

1 463 SCOR SE EUR 55 272 345


540 SODEXO SA EUR 53 244 333

958 TOTAL SA EUR 45 155 282









Page 23


assets


France 697 093 5416











Page 24


assets


France 678 173 4602











Page 25


assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan



Page 18


31102017 31102018 31102019 31102019

Net assets 5 202 773 4 916 208 796 167





31102017 31102018 31102019 31102019

Net assets 78 097 844 41 337 593 59 778 260




31102017 31102018 31102019 31102019

Net assets 1 947 051 1 715 660 1 898 909





Page 19


assets



Shares 7 659 705 9483

Germany 4 605 763 5701

1 336 ADIDAS AG EUR 369 872 458


5 420 BASF SE EUR 369 807 458






56 182 EON SE EUR 507 716 629



3 232 SAP SE EUR 383 962 475


40 900 ING GROEP NV EUR 414 235 513





Belgium 447 723 554

6 196 UCB SA EUR 447 723 554

France 380 380 471

2 962 AIRBUS SE EUR 380 380 471

Spain 320 284 397

124 867 CAIXABANK EUR 320 284 397

Bonds 405 032 501

France 405 032 501











assets



Shares 112 497 521 9052

France 110 131 361 8861


353 061 AXA SA EUR 8 362 250 673

107 919 BNP PARIBAS EUR 5 051 688 406

47 287 BOUYGUES SA EUR 1 796 906 145



52 398 DANONE EUR 3 896 315 313

321 954 ENGIE EUR 4 827 700 388


8 601 KERING EUR 4 388 230 353

10 410 LOREAL EUR 2 725 338 219

16 127 LVMH EUR 6 168 578 496

352 343 ORANGE EUR 5 087 833 409


73 522 RENAULT SA EUR 3 364 367 271

47 551 SAFRAN SA EUR 6 745 109 543




187 230 TOTAL SA EUR 8 825 086 710


59 890 VINCI SA EUR 6 024 934 485

196 155 VIVENDI EUR 4 896 029 394

Germany 1 939 413 157


5 938 BASF SE EUR 405 150 033


3 050 SAP SE EUR 362 340 029



Bonds 6 281 372 505

France 6 281 372 505

5 650 000 BNP PARIBAS 2875 13-26092023 EUR 6 281 372 505


France 3 002 988 242






Page 21


assets



Shares 21 114 236 9637

France 19 767 682 9022


6 115 AIRBUS SE EUR 785 288 358

43 075 AXA SA EUR 1 020 231 466


20 995 DANONE EUR 1 561 188 713

68 136 ENGIE EUR 1 021 699 466


4 167 LOREAL EUR 1 090 921 498

2 706 LVMH EUR 1 035 045 472

78 616 ORANGE EUR 1 135 215 518

4 479 SAFRAN SA EUR 635 346 290




43 000 TOTAL SA EUR 2 026 805 924


15 328 VINCI SA EUR 1 541 997 704

41 069 VIVENDI EUR 1 025 082 468

Germany 1 346 554 615











Page 22


assets



Shares 1 292 618 8079

France 1 292 618 8079

1 637 ACCOR SA EUR 63 057 394

2 692 AXA SA EUR 63 760 399





6 800 ENGIE EUR 101 966 637


114 KERING EUR 58 163 364



4 968 ORANGE EUR 71 738 448


3 192 PEUGEOT SA EUR 72 458 453


1 086 RENAULT SA EUR 49 695 311

1 463 SCOR SE EUR 55 272 345


540 SODEXO SA EUR 53 244 333

958 TOTAL SA EUR 45 155 282









Page 23


assets


France 697 093 5416











Page 24


assets


France 678 173 4602











Page 25


assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world




Page 19


assets



Shares 7 659 705 9483

Germany 4 605 763 5701

1 336 ADIDAS AG EUR 369 872 458


5 420 BASF SE EUR 369 807 458






56 182 EON SE EUR 507 716 629



3 232 SAP SE EUR 383 962 475


40 900 ING GROEP NV EUR 414 235 513





Belgium 447 723 554

6 196 UCB SA EUR 447 723 554

France 380 380 471

2 962 AIRBUS SE EUR 380 380 471

Spain 320 284 397

124 867 CAIXABANK EUR 320 284 397

Bonds 405 032 501

France 405 032 501










Page 20


assets



Shares 112 497 521 9052

France 110 131 361 8861


353 061 AXA SA EUR 8 362 250 673

107 919 BNP PARIBAS EUR 5 051 688 406

47 287 BOUYGUES SA EUR 1 796 906 145



52 398 DANONE EUR 3 896 315 313

321 954 ENGIE EUR 4 827 700 388


8 601 KERING EUR 4 388 230 353

10 410 LOREAL EUR 2 725 338 219

16 127 LVMH EUR 6 168 578 496

352 343 ORANGE EUR 5 087 833 409


73 522 RENAULT SA EUR 3 364 367 271

47 551 SAFRAN SA EUR 6 745 109 543




187 230 TOTAL SA EUR 8 825 086 710


59 890 VINCI SA EUR 6 024 934 485

196 155 VIVENDI EUR 4 896 029 394

Germany 1 939 413 157


5 938 BASF SE EUR 405 150 033


3 050 SAP SE EUR 362 340 029



Bonds 6 281 372 505

France 6 281 372 505

5 650 000 BNP PARIBAS 2875 13-26092023 EUR 6 281 372 505


France 3 002 988 242







assets



Shares 21 114 236 9637

France 19 767 682 9022


6 115 AIRBUS SE EUR 785 288 358

43 075 AXA SA EUR 1 020 231 466


20 995 DANONE EUR 1 561 188 713

68 136 ENGIE EUR 1 021 699 466


4 167 LOREAL EUR 1 090 921 498

2 706 LVMH EUR 1 035 045 472

78 616 ORANGE EUR 1 135 215 518

4 479 SAFRAN SA EUR 635 346 290




43 000 TOTAL SA EUR 2 026 805 924


15 328 VINCI SA EUR 1 541 997 704

41 069 VIVENDI EUR 1 025 082 468

Germany 1 346 554 615











Page 22


assets



Shares 1 292 618 8079

France 1 292 618 8079

1 637 ACCOR SA EUR 63 057 394

2 692 AXA SA EUR 63 760 399





6 800 ENGIE EUR 101 966 637


114 KERING EUR 58 163 364



4 968 ORANGE EUR 71 738 448


3 192 PEUGEOT SA EUR 72 458 453


1 086 RENAULT SA EUR 49 695 311

1 463 SCOR SE EUR 55 272 345


540 SODEXO SA EUR 53 244 333

958 TOTAL SA EUR 45 155 282









Page 23


assets


France 697 093 5416











Page 24


assets


France 678 173 4602











Page 25


assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world




Page 20


assets



Shares 112 497 521 9052

France 110 131 361 8861


353 061 AXA SA EUR 8 362 250 673

107 919 BNP PARIBAS EUR 5 051 688 406

47 287 BOUYGUES SA EUR 1 796 906 145



52 398 DANONE EUR 3 896 315 313

321 954 ENGIE EUR 4 827 700 388


8 601 KERING EUR 4 388 230 353

10 410 LOREAL EUR 2 725 338 219

16 127 LVMH EUR 6 168 578 496

352 343 ORANGE EUR 5 087 833 409


73 522 RENAULT SA EUR 3 364 367 271

47 551 SAFRAN SA EUR 6 745 109 543




187 230 TOTAL SA EUR 8 825 086 710


59 890 VINCI SA EUR 6 024 934 485

196 155 VIVENDI EUR 4 896 029 394

Germany 1 939 413 157


5 938 BASF SE EUR 405 150 033


3 050 SAP SE EUR 362 340 029



Bonds 6 281 372 505

France 6 281 372 505

5 650 000 BNP PARIBAS 2875 13-26092023 EUR 6 281 372 505


France 3 002 988 242






Page 21


assets



Shares 21 114 236 9637

France 19 767 682 9022


6 115 AIRBUS SE EUR 785 288 358

43 075 AXA SA EUR 1 020 231 466


20 995 DANONE EUR 1 561 188 713

68 136 ENGIE EUR 1 021 699 466


4 167 LOREAL EUR 1 090 921 498

2 706 LVMH EUR 1 035 045 472

78 616 ORANGE EUR 1 135 215 518

4 479 SAFRAN SA EUR 635 346 290




43 000 TOTAL SA EUR 2 026 805 924


15 328 VINCI SA EUR 1 541 997 704

41 069 VIVENDI EUR 1 025 082 468

Germany 1 346 554 615












assets



Shares 1 292 618 8079

France 1 292 618 8079

1 637 ACCOR SA EUR 63 057 394

2 692 AXA SA EUR 63 760 399





6 800 ENGIE EUR 101 966 637


114 KERING EUR 58 163 364



4 968 ORANGE EUR 71 738 448


3 192 PEUGEOT SA EUR 72 458 453


1 086 RENAULT SA EUR 49 695 311

1 463 SCOR SE EUR 55 272 345


540 SODEXO SA EUR 53 244 333

958 TOTAL SA EUR 45 155 282









Page 23


assets


France 697 093 5416











Page 24


assets


France 678 173 4602











Page 25


assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world




Page 21


assets



Shares 21 114 236 9637

France 19 767 682 9022


6 115 AIRBUS SE EUR 785 288 358

43 075 AXA SA EUR 1 020 231 466


20 995 DANONE EUR 1 561 188 713

68 136 ENGIE EUR 1 021 699 466


4 167 LOREAL EUR 1 090 921 498

2 706 LVMH EUR 1 035 045 472

78 616 ORANGE EUR 1 135 215 518

4 479 SAFRAN SA EUR 635 346 290




43 000 TOTAL SA EUR 2 026 805 924


15 328 VINCI SA EUR 1 541 997 704

41 069 VIVENDI EUR 1 025 082 468

Germany 1 346 554 615











Page 22


assets



Shares 1 292 618 8079

France 1 292 618 8079

1 637 ACCOR SA EUR 63 057 394

2 692 AXA SA EUR 63 760 399





6 800 ENGIE EUR 101 966 637


114 KERING EUR 58 163 364



4 968 ORANGE EUR 71 738 448


3 192 PEUGEOT SA EUR 72 458 453


1 086 RENAULT SA EUR 49 695 311

1 463 SCOR SE EUR 55 272 345


540 SODEXO SA EUR 53 244 333

958 TOTAL SA EUR 45 155 282










assets


France 697 093 5416











Page 24


assets


France 678 173 4602











Page 25


assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world




Page 22


assets



Shares 1 292 618 8079

France 1 292 618 8079

1 637 ACCOR SA EUR 63 057 394

2 692 AXA SA EUR 63 760 399





6 800 ENGIE EUR 101 966 637


114 KERING EUR 58 163 364



4 968 ORANGE EUR 71 738 448


3 192 PEUGEOT SA EUR 72 458 453


1 086 RENAULT SA EUR 49 695 311

1 463 SCOR SE EUR 55 272 345


540 SODEXO SA EUR 53 244 333

958 TOTAL SA EUR 45 155 282









Page 23


assets


France 697 093 5416












assets


France 678 173 4602











Page 25


assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world




Page 23


assets


France 697 093 5416











Page 24


assets


France 678 173 4602












assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world




Page 24


assets


France 678 173 4602











Page 25


assets


France 326 827 4106












assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world




Page 25


assets


France 326 827 4106











Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986







assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world




Page 26


assets


Italy 44 024 672 7365

6 000 000 ITALY BOTS 0000 18-13122019 EUR 6 002 182 1004

7 000 000 ITALY BOTS 0000 18-14112019 EUR 7 000 490 1171

3 000 000 ITALY BOTS 0000 19-13032020 EUR 3 002 804 502

7 500 000 ITALY BOTS 0000 19-14012020 EUR 7 504 897 1256

6 000 000 ITALY BOTS 0000 19-14022020 EUR 6 004 942 1005

5 500 000 ITALY BOTS 0000 19-28022020 EUR 5 504 775 921

6 000 000 ITALY BOTS 0000 19-29112019 EUR 6 001 208 1004

3 000 000 ITALY BOTS 0000 19-31032020 EUR 3 003 374 502


France 5 895 256 986






Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831




BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world




Page 27


assets




I CAP USD 189 693 999








Ireland 347 848 1831



Page 28


BNP Paribas Plan



a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world


BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan












































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan


Page 29


a) Matured sub-fund

Sub-fund Date Event


6 November 2018



b) Sub-funds open


31 October 2019






going concern basis






to 31 October 2019




















BNP Paribas Plan


Page 30











































BNP Paribas Plan










Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan


Page 30











































BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan






















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan


Page 31









Easy Future 2026 to 2028 125(1) 065(2) NA

Easy Future 2033 to 2043 160(3) 080(4) NA











Note 4 - Other fees









Note 5 - Taxes




institutions












BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan


Page 32





















Nominal

(in EUR)

Net unrealised

gain(loss)

(in EUR)


(AS51) 19122019 11 479 421 (20 748)


INDEX - FUTURE 20122019 8 346 369 209 293



FUTURE 20122019 7 398 450 213 200

GBP 101 P FTSE 100 INDEX 20122019 8 488 616 (76 733)


JPY 66 P NIKKEI 225 (OSE) 12122019 12 558 936 1 105 405



Total 2 139 338












BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan







- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan


Page 33

Easy Future 2023


10 000 000 EUR 20062023 BNP PARIBAS 2875

26092023 100








Easy Future 2023


80 000 000 EUR 27102023 EURIBOR 3 M +046 0590


Easy Future 2026


19 500 000 EUR 27102026 EURIBOR 3 M +025 0882


Easy Future 2028


1 200 000 EUR 27102028 EURIBOR 3 M +048 1380












Easy Future 2021



6 800 000 8419 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

537

Net unrealised loss

(in EUR) (418 711)

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan









DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan


Page 34






- REG

MUENCHENER


- REG


BAYERISCHE MOTOREN




DELHAIZE NV

Easy Future 2023



30 000 000 2414 BNP PARIBAS


PERFORMANCE OF

THE BASKET

SHARES

908

79 000 000 6356

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102023

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +046

Net unrealised loss

(in EUR) (954 299)








COMPAGNIE DE SAINT



DANONE RENAULT SA

DEUTSCHE TELEKOM AG

- REG SAFRAN SA

Easy Future 2026



19 000 000 8672

JP MORGAN

LONDON GREAT-

BRITAIN

EUR 27102026

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +030

Net unrealised loss

(in EUR) (2 475 837)

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan




EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan


Page 35








DEUTSCHE TELEKOM AG


Easy Future 2028



1 200 000 7501

JP MORGAN SEC

LIMITED GREAT-

BRITAIN

EUR 27102028

PERFORMANCE OF

THE BASKET

SHARES

EURIBOR 3 M +048

Net unrealised loss

(in EUR) (108 660)








ENGIE PEUGEOT SA

Easy Future 2033





Performance of the


Net unrealised gain

(in EUR) 424 562

Easy Future 2038





Performance of the


Net unrealised gain

(in EUR) 566 259

Easy Future 2043





Performance of the


Net unrealised gain

(in EUR) 360 880

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan



















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan


Page 36



EURIBOR 2





EURIBOR 2


1D SHORT TERM VNAV

BNP PARIBAS FUNDS



Booster


BNP Paribas Paris

JP Morgan London








Sale Description

Maturity

date Strike

Nominal

(in EUR)

Market value

(in EUR)


08112019 16250 08112019 16 250000 8 623 023 531


OPTION 15112019 9550 15112019 9 550000 4 775 000 50


15112019 4400 15112019 4 400000 4 400 000 80


OPTION 15112019 2700 15112019 2 700000 5 481 000 203

AUD 284 P

PUT SampPASX 200

INDEX (AS5

21112019 5200

21112019 5 200000 9 119 709 175


15112019 8300 15112019 8 300000 6 257 892 151


15112019 5400 15112019 5 400000 6 326 045 0


SPX 15112019 2250 15112019 2 250000 27 226 281 847


28112019 20200 28112019 20 200000 8 316 465 412

Total 2 449


Broker for Options


BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan


Page 37


















Company























BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan

Unaudited appendix

Page 38






Sub-funds

Global

Risk

calculation

Method

VaR

model

Reference

Portfolio VaR limit

Lowest

utilisation

of VaR

limit

Highest

utilisation

of VaR

limit

Average

utilisation

of VaR

limit

Average

level of

leverage

reached

during the

year


VaR

Historic

Var

No

Benchmark 20 162 966 343 95


VaR

Historic

Var

No

Benchmark 20 419 931 504 153


VaR

Historic

Var

No

Benchmark 20 804 1553 1152 178


VaR

Historic

Var

No

Benchmark 20 1295 1931 1599 181


VaR

Historic

Var

No

Benchmark 20 1552 3176 1995 49


VaR

Historic

Var

No

Benchmark 20 2146 3659 2793 45


VaR

Historic

Var

No

Benchmark 20 2663 5457 3424 40

International

Derivatives

Absolute

VaR

Historic

Var

No

Benchmark 20 7061 10229 8121 176




Statistics














BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan

Unaudited appendix

Page 39









Remuneration policy




Association)1



directive)


(fixed + variable)






directive)







UCITS 210 762

AIFs 22 27






BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan

Unaudited appendix

Page 40

















collateral (SFTR)


is related to

Easy Future 2021


Currency

Market Value



received





Total


Easy Future 2023


Currency

Market Value



received




one day

BNP PARIBAS


JP MORGAN


Less than

one day

BNP PARIBAS


Total


Easy Future 2026


Currency

Market Value



received





Total


Easy Future 2028


BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world

BNP Paribas Plan

Unaudited appendix

Page 41

Easy Future 2033


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping of

collateral

received

Safekeeping of

collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

Aa2


Above

one year

FRANCE

(GOVT OF)


SERVICES

NA No

BNP PARIBAS Other

collateral

than cash

Aaa

(Fitch) EUR 338 457

Above

one year

NETHERLANDS

GOVERNMENT


SERVICES

NA No

Total

(absolute value)

EUR 476 051

Easy Future 2038


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS

Other


Aa2


Above

one year

FRANCE

(GOVT OF)

BNP PARIBAS

SECURITIES SERVICES

NA No

BNP PARIBAS

Other

collateral

than cash

AAA (SampP)

EUR 366 097 Above


BNP PARIBAS

SECURITIES

SERVICES

NA No

Total


Easy Future 2043


Currency

Market

Value

(absolute

value)

Maturity Issuers

Safekeeping

of collateral

received

Safekeeping

of collateral

granted

Reinvestment

BNP PARIBAS Other

collateral

than cash

AAA (SampP)

EUR 379 281 Above



SERVICES

NA No

Total

(absolute value)

EUR 379 281
















world













world

BNP Paribas Plan SICAVdocuments.fww.info/fwwdok_4hwFaIOICN.pdf · BNP Paribas Plan Information Page...

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Transcript of BNP Paribas Plan SICAVdocuments.fww.info/fwwdok_4hwFaIOICN.pdf · BNP Paribas Plan Information Page...