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EXANE

IN BRIEF

May 2017

. Photo: David Marmier. Design, creation: www.lagenceplanete.fr With a net profit of €36.3 million, Exane delivered a satisfactory financial performance, whilst maintaining a high level of investment. Cash Equities (Exane BNP Paribas) remained very dynamic: an increase in volumes traded and leading sector research (ranked No.

2 in Europe

(1) ) helped add 10% to our market share. Derivatives (Exane Derivatives) fared well in terms of the flow business (Options, Convertibles, Delta One), whereas the structured products/proprietary indices activity registered a marked decline in 2016.
Asset Management (Exane AM and Ellipsis AM) had an excellent year, with net inflows exceeding €1 billion, bringing assets under management up to €9.3 billion (2) . EAM registered very impressive returns again in equity funds, particularly on its long only equity

Select fund.

All in all, the Group franchise enjoyed strong growth in 2016, confirming its increasingly solid status as a leader in European equities.

Nicolas Chanut

CEO (1)

2016 Extel Pan-European Survey.

(2)

As at 31 December 2016.

NET BANKING

INCOME

401.6m

EMPLOYEES

935

NET PROFIT

36.3m
(1) Exane Group"s key managers and experts.

50% of the capital

60% of the voting rights

50% of the capital

40% of the voting rights

AN INNOVATIVE AND EFFECTIVE

PARTNERSHIP WITH BNP PARIBAS

The partnership agreement established between Exane and BNP Paribas in 2004, and signicantly strengthened in 2010 and 2011, was renewed in its entirety in April 2015 for a ve-year period, reecting the high level of mutual condence and trust. It is built around three core elements: An operational partnership in European cash equities where BNP Paribas conferred exclusivity to Exane under the Exane BNP Paribas brand. A balance sheet partnership which is particularly well suited to our Derivatives business, providing financing and support for our rating. A capital partnership uniting the strength of BNP Paribas with the independence of Exane. 100%

EXANE PARTNERS

(1)

VERNER INVESTISSEMENTS

BNP PARIBAS

EXANE

EQUITIES

RESEARCH

INVESTMENT

CASH EQUITIES

European

Equities

DERIVATIVES

Derivatives

Equities

Convertibles

Credit

Proprietary Indices

Investment solutions

ASSET

MANAGEMENT

L/S Equity

Long Only Equity

Convertibles

Credit and volatility

management

A STRONG

CULTURE

For more than 25 years, Exane's growth has been grounded on 3 funda- mentals: the world of Equities, Investment expertise (trading and asset management) and top-class Research in equities and derivatives. These three pillars of our business model are underpinned by 3 core values that have shaped the Group's culture since its creation. Specialising in European equities, Exane is active in 3 businesses: 3

BUSINESS LINES

FUNDAMENTALS

Equities

Investment

Research

VALUES

Excellence

Independence

Commitment

CASH EQUITIES

ANALYSTS, SALES,

SALES-TRADERS

AND TRADERS

250

PAN-EUROPEAN

EQUITY SECTORS

RESEARCH

(1) No.2

IN PAN-EUROPEAN

VOLUMES TRADED

€270bn

Exane BNP Paribas is one of the most dynamic equity brokers in Europe with 4.5 % market share after many years of consistent growth. This momentum has been thanks to a policy of substantial investment maintained across the economic cycle.

A UNIQUE RESEARCH PRODUCT

Independent, fundamental long-ter m research on 600 Pan-European stocks, ranked 2 nd best sector research in Europe (1) A dedicated sales force in close proximity to clients. A Corporate Access team integrated within sales and research.

A TOP-RANKED EXECUTION PLATFORM

A full range of services: high touch sales trading, trading, facilitation, program trading, ETF, electronic trading.

Execution tailored to serve clients.

Traded volumes tripled over the past four years.

A STRONG PRESENCE AMONG CORPORATES

Exane BNP Paribas is the exclusive distributor for European ECM transactions originated by BNP Paribas. A Corporate Broking team active on share buy-backs, management of listed stakes and liquidity contracts.

PROPRIETARY ELECTRONIC PLATFORM

........................... No high frequency .......................... Third-party TCA .......................... Very experienced teams .................................... Access to exclusive liquidity (No.1 in France) .............................. Strategies adaptable on request ....................... Cutting-edge technology (colo, FPGA, SuperSor) ................................ Segregated teams and systems (1)

2016 Extel Pan-European Survey.

(1) 2016 Extel Pan-European Survey. (2) On average, over the past three years, as at end-2016. (3) Eurex, 2016 (on block trades, in market share of notional traded).

USING OUR EXPERTISE TO SERVE INVESTORS

Market Making in the main European markets

OPTIONSOn equities

- No. 1 in Europe with 9.1% market share (3) - 250 European equities On indices - 7 general indices and 8 sector indices

FUTURESOn equities, indices and dividends

CONVERTIBLE BONDS - 200 bonds covered

Creation of investment solutions

Analysis of investor contraints,

market parameters and regulation

Investment opportunities identified by our

research teams - Convertible bonds

Research ranked in the European Top 3

for over 10 years - Options - Equities - Credit - Asset allocation L I Q U I D IT Y PR O V I D E R S O L U T I O N S C O N V I C T I O N S

INVESTORS

Exane Derivatives

a comprehensive range of services spanning research to execution.

CONVICTIONS AND SOLUTIONS

High value added investment ideas across all asset classes, especially our historical franchise (Convertibles and Options).

Bespoke solutions for each investor prole.

Sales teams in tune with client needs.

LIQUIDITY PROVIDER

A competitive execution platform.

Market Making on European equity and index options, futures and convertibles by award-winning teams.

Controlled risk management.

DERIVATIVES

CONVERTIBLES

RESEARCH AND

SALES (1) No.3

EQUITY OPTIONS

MARKET MAKING

(3) No.1

INVESTMENT

SOLUTIONS ISSUED

EACH YEAR

(2) 1,200 c o llective fun d s (1)

As at 31 December 2016.

SPECIALISED FUND MANAGEMENT ON ADDED VALUE ASSETS

ASSET MANAGEMENT

EXANE ASSET MANAGEMENT

Since its launch in 2001, Exane asset management, focused on European equities, has offered sectorial specialist fund management that aims to deliver steady, long-term capital growth for its clients (institutional and corporate, distribution networks and multi- management). EAM, which is an European benchmark player in the management of market-neutral long/short equity funds (direct and collective), has also included directional equity funds within its offer.

ELLIPSIS AM

Ellipsis AM is a leading manager of European convertibles and is diversifying into volatility and credit funds. Based on a research- driven investment philosophy, its portfolios reflect its convictions with active and tactical risk allocation.

CREDIT FUNDS

High Yield, Short Term,

Credit Allocation

CONVERTIBLE FUNDS

European Convertibles

EXCLUSIVE FUNDS

Dividends, Overlay,

Long/short Credit

Directional equity fundsMarket-neutral long/short equity funds zephyrselect p le iade ran g e i n t e g r a l e o v e r d r i v e archimedes, ceres, gulliver, mercury, pangea, templiers, vauban d ir e ct fu n d s

FUNDS MANAGED

15

IN ASSETS UNDER

MANAGEMENT

(1) 7.5bn

IN ASSETS UNDER

MANAGEMENT

(1) 1.8bn EXANE

SA I 6, rue Ménars 75002 PARIS

Tel.: + 33 (0)1 44 95 40 00

Fax: + 33 (0)1 44 95 40 01

www.exane.com

AWARD-WINNING

FRANCHISES

(1)

2016 Extel Pan-European Survey.

(2)

UCITS Hedge Awards 2016, The Hedge Fund Journal.

EXANE ASSET MANAGEMENT

No.3 buy-side firm in France

(1) No.1 Exane Ceres best Equity Market Neutral fund over 5 years (2) No.1 Exane Vauban best Equity Market Neutral fund over 1 year (2)

EXANE BNP PARIBAS

No.2 for Pan-European sector research

(1)

21 sector research teams in the Top 5 in Europe

(1)

No.4 equity broker in Europe

(1)

No.1 for Pan-European small & midcaps research

(1)

No.3 for equity & equity-linked sales

(1)

EXANE DERIVATIVES

No.3 derivatives and convertibles broker in Europe (1)

No.3 for convertibles research in Europe

(1)

No.3 for convertibles sales in Europe

(1) PARIS

LONDON

FRANKFURT

GENEVA

LUXEMBOURG

MADRID

MILAN

STOCKHOLM

NEW YORK

SINGAPORE

May 2017

. Photo: David Marmier. Design, creation: www.lagenceplanete.frquotesdbs_dbs10.pdfusesText_16

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