3.2 SOVEREIGN RISK EXPOSURE N/A 3.3 MARKET RISK DERIVATIVE INSTRUMENTS: ANALYSIS BY REMAINING TERM TO MATURITY The breakdown of market values of derivative instruments is shown by remaining contractual maturity. HEDGING DERIVATIVES – FAIR VALUE OF ASSETS 31/12/2025 Transactions on organised and over-the-counter markets Total market value (in thousands of euro) ≤1 year > 1 year to ≤ 5 years > 5 years Interest rate instruments 13,383 16,930 12,697 43,010 Currency instruments Other instruments Subtotal 13,383 16,930 12,697 43,010 Forward foreign exchange transactions 765 765 Total fair value of hedging derivatives - assets 14,148 16,930 12,697 43,775 31/12/2024 Transactions on organised and over-the-counter markets Total market value (in thousands of euro) ≤1 year > 1 year to ≤ 5 years > 5 years Interest rate instruments 14,455 12,886 21,110 48,451 Currency instruments Other instruments Subtotal 14,455 12,886 21,110 48,451 Forward foreign exchange transactions 1,195 1,195 Total fair value of hedging derivatives - assets 15,650 12,886 21,110 49,646 HEDGING DERIVATIVES – FAIR VALUE OF LIABILITIES 31/12/2025 Transactions on organised and over-the-counter markets Total market value (in thousands of euro) ≤1 year > 1 year to ≤ 5 years > 5 years Interest rate instruments 33,938 2,309 196 36,443 Currency instruments Other instruments Subtotal 33,938 2,309 196 36,443 Forward foreign exchange transactions 7,063 7,063 Total fair value of hedging derivatives - liabilities 41,001 2,309 196 43,506 31/12/2024 Transactions on organised over-the-counter markets Total market value (in thousands of euro) ≤1 year > 1 year to ≤ 5 years > 5 years Interest rate instruments 41,108 4,786 699 46,593 Currency instruments Other instruments Subtotal 41,108 4,786 699 46,593 Forward foreign exchange transactions 4,772 4,772 Total fair value of hedging derivatives - liabilities 45,880 4,786 699 51,365 Annual Report 2025 115
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