Compensation of Dexia SA directors

Dexia’s 2006 ordinary shareholders’ meeting decided to pay an annual maximum global remuneration amount of EUR 1,300,000 to the directors for their services, effective as from 1 January 2005.
The shareholders’ meeting also authorised the Board of Directors to determine the practical procedures of this remuneration, which comprises a fixed amount and attendance fees and its allocation.
Since 1 January 2015, the remuneration of non-executive directors (excluding the Chairman of the Board of Directors) consists of a fixed remuneration of EUR 3,000 per quarter (consolidated at the level of the Board of Dexia Crédit Local as mentioned in the table below) and attendance fees of (EUR 2,000 for meetings of the Dexia Boards, EUR 1,000 for meetings of the Audit Committee and the Risk Committee, and EUR 750 for meetings of the Boards of Dexia. The Chairman of the Audit Committee and the Risk Committee is remunerated for his position (attendance fees are EUR 1,500 per meeting).
Lastly, attendance fees are reduced by 50% for any meeting of the Board of Directors organised at the same time as a meeting of another Board. Furthermore, an annual global ceiling is defined in the sense that a maximum number of meetings will be remunerated.
Non-executive directors receive no performance-related remuneration, such as bonuses or long-term incentives, or any benefits in kind or benefits associated with pension plans.