Shareholding structure

The Belgian and French States hold most of Dexia Holding's (formerly Dexia) capital, following a EUR 5.5 billion capital increase in December 2012

The Belgian and French States together hold 99.59% of Dexia Holding's capital: 52.78% for the Belgian State through the Federal Holding and Investment Company and 46.81% for the French State. Individual and institutional investors represent 0.41% of Dexia's capital

The share capital of Dexia Holding amounts to five hundred million euros (EUR 500,000,000). It is represented by 420,134,302 ordinary shares without indication of their nominal value, each of them representing 1 / 420,134,302nd of the share capital.

The 420,134,302 ordinary shares are exclusively in registered form. Their holders may not request the conversion of these shares into dematerialized shares.

Registered shares are represented by an entry in the register of registered Dexia Holding shares, managed by Euroclear Belgium:

Euroclear Belgium
Boulevard du Roi Albert II, 1
1210 Brussels (Belgium)

All shareholders have identical economic rights. Owing to the Company's financial situation and its prospects, however, it is extremely unlikely that a dividend distribution can be envisaged.

The Belgian and French States own ordinary shares of the company and profit shares (Contingent Liquidation Rights or CLR).

These CLR do not represent the capital of Dexia, but grant the States the right to benefit from a preferential distribution on the liquidation of Dexia, after settlement of the debts and charges, in an amount of EUR 440 million per annum to count from 1 January 2018 up to the date of liquidation. This right to a preferential distribution in the event of liquidation may only be exercised once, on the occasion of Dexia's liquidation.