3.1.2 Maximum exposure to credit risk An entity’s maximum exposure to credit risk represents the book value, net of any impairment loss recognised and without taking account of any collateral held or other credit enhancements (e.g. netting agreements that do not meet offset conditions under IAS 32). The tables below show the maximum exposure as well as the amount of collateral held and other credit enhancements allowing this exposure to be reduced. Assets impaired as of the balance sheet date are impaired assets (Stage 3). FINANCIAL ASSETS NOT SUBJECT TO IMPAIRMENT REQUIREMENTS (RECOGNISED AT FAIR VALUE THROUGH PROFIT OR LOSS) Reduction in credit risk Assets held as collateral Other credit enhancement techniques AS OF 31 DECEMBER 2025 ` (in thousands of euros) Maximum credit risk exposure Financial instruments received as collateral Mortgages Pledges Surety bonds and other financial guarantees Credit derivatives Financial assets at fair value through profit or loss (excluding variable income securities and assets representing unit-linked policies) 10,353 Financial assets held for trading 8,700 Debt instruments that do not meet SPPI criteria 1,534 Financial assets designated at fair value through profit or loss Hedging derivatives 43,775 Total 54,128 Reduction in credit risk Assets held as collateral Other credit enhancement techniques AS OF 31 DECEMBER 2024 ` (in thousands of euros) Maximum credit risk exposure Financial instruments received as collateral Mortgages Pledges Surety bonds and other financial guarantees Credit derivatives Financial assets at fair value through profit or loss (excluding variable income securities and assets representing unit-linked policies) 7,071 Financial assets held for trading 5,484 Debt instruments that do not meet SPPI criteria 1,475 Financial assets designated at fair value through profit or loss - Hedging derivatives 49,646 Total 56,717 CFM Indosuez Wealth Management 104
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