Dexia Bank Belgium becomes ....

March 1st 2012

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Contents

I. Intro

II. Looking back on 2011

III. A new name

IV. Questions

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� New Board composed & already met twice. Well established mix of competences to underpin decision making.

� Creation of strategic, remuneration, risk & audit committee within the Board.

Board of Directors

Unwinding DSA

EC file � Dedicated team working on preparation for European Commission file.

� Due date for submitting file: mid-April.

� Process considered as being on track.

Main areas focused on so far

� Important reduction in exposure towards Dexia Group.

� New organisation at DBB defined and approved by social partners.

� First transfers DSA competences realised.

� 21 work streams focussing on unwind.

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Our people supporting society

� Continued investment in branch network as evidenced by the opening of the 400th OBC in Jette.

� PPS DG Infra+, Dexia Bank België & BNP Paribas Fortis to close the R4 around Gent.

Some recent highlights

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Also underpinned by some recent figuresRCB

PWB

Jan31st 2011 Nov 30th Jan 31st 2012

4,000,735

Evolution Total Customers

4,009,6503,998,825

� In January 2012, DBB welcomed on average 1 new customer/day/branch .

� Hence, franchise remains stable as expressed in number of clients.

� The small reduction in January is a yearly recurring phenomenon as customer then typically reassess their bank relationships. Also, January is traditionally a month of fierce competition for savings accounts (smaller foreign price breakers).

� Some customers still display attrition behavior, but this is compensated by additional investments of existing customers as evidenced by an increasing outstanding Assets under Management.

� Proximity-model pays off:

� Production Local Investment Notes > 1 bn€.

� Dematerialisation surge in December resulted in an important inflow of paper ao. ~25 % non Dexia linked.

Returning confidence

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Also underpinned by some recent figures

Nov 30th 2011 Jan 31st 2012

60,360,5

Funding RCB (outstanding € bn)

� Increase in on balance sheet funding despite the ~0.8 bn € outflow towards Belgian Government Bonds.

� A return to pre-crisis level of ~ 63 Bn €will require some time.

4Q2010 4Q2011

1,7

Production Mortgages + Business (volume € bn)

� Stable production over the last quarter.

� Less production in business segment as fragile economic environment tempers investment appetite of the companies.

� Over 2011, mortgage production was 16 % higher in amounts compared to 2010 & 27 % higher in number of files.

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DBB stays anchored in local economy

RCB

PWB

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Also underpinned by some recent figuresDBB stays anchored in local economy & is recognised as such.

Nov 30th 2011 Jan 31st 2012

15,8

17,813%

Funding PWB (outstanding € bn)

� Very noticeable increase of funding placed at DBB both in corporate as in public segment.

� Total funding is back on pre 2008 crisis levels.

4Q2010 4Q2011

1,2- 9 %

Loan Production Public & Social Profit(volume € bn)

� Production over 4Q decreased explained by more aggressive competition but still highest quarter in 2011. Total 2011 production was 17% higher compared to 2010.

� Overall outstanding credits increased YoYfor all product categories.

� Positive results in Leasing, Factoring & Autolease.

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RCB

PWB

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Contents

I. Intro

II. Looking back on 2011

III. A new name

IV. Questions

9

2011 Financials Consolidated statement of income

� Full year 2011 loss of € -1.367 bn

� highly anticipated after 9M2011 loss

� expenses are well managed especially taken into account some separation linked costs on HR commitments, new brand...

� despite better to stable income from commercial business lines RCB, PWB and DIB (despite funding attrition mainly in RCB over the whole year)

� 2011 loss mainly stemming from

� large losses on Greek sovereign debt (for € -1.305 m after taxes)

� specific large impairment on exposure on Holding Communal

� some deleveraging losses linked to Dexia program mainly executed in Q1 and Q2 2011

m€ 2010 9M2011 2011

Income 2,386 -156 66

Expenses -1,596 -1,170 -1,610

Gross Operating Income 790 -1,326 -1,544

Cost of Risk & Impairments -28 -93 -602

Pre Tax Income 762 -1,419 -2,146

Others -84 310 779

Net Income Gr Share 678 -1,109 -1,367

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Net result after tax

Write-down on Greece

(after tax)

Loss recorded on

DAM

(after tax)

Other provisions/los

ses, inclprovisions for specific loan files(after tax)

Net result excl. one-off

items

Without one-off items, the net result for 2011 woul d amount to € 493 m.

-1,367

1,305

147

246

162

+493

Loss due to reduction

investment portfolio

(after tax)

2011 Financials Focus on one-off items

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13.3%

30/09/2011

14.6%

31/12/2010

30/09/201131/12/2010

Tier 1 ratio (Basel II)

CAD ratio (Basel II)

2011 Financials - consolidatedSolvency ratios

15.1%15.7%

12.7%

31/12/2011

31/12/2011

12.4%

30/09/2011

13.6%

31/12/2010

Core Tier 1 - ratio

11.8%

31/12/2011

15.1%

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30.6 31.8 32.8 33.4

2008 2009 2010 2011

17.716.5

18.4 18.3

2008 2009 2010 2011

Mortgage loans (volume € bn)

SME and Corporate Loans (volume € bn)

Public and social financing (volume € bn)

Outstanding Saving Accounts (volume € bn)

3%

9%17%

20.5 21.3 22.424.0

2008 2009 2010 2011

Activity - Bank

29.2 31.6

28.1

22.8

2008 2009 2010 2011

28%

Strong activity focused on supporting local economy continues

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Update main aspects Balance Sheet - consolidatedExposure towards the Dexia Group

€ 22.6 bn

Netting with collateral and under Dexia Group Maste r Netting Agreement

€ 40 bnfunding to Dexia Group

net outstandingsDexia Group

€ 10 bn ~ € 0 bn

€ 56 bn € 44 bn ~ € 28 bn

30.09.2011 31.12.2011 Est.1Q2012

� The purchase contract between Dexia Group and the Belgian State provided for a framework for rapid exposure reduction.

� End of December, an additional agreement provided for an effecive accelerated full reductionof the unsecured exposure towards target date of end June 2012.

� Recent additional agreement will lead to ~0 net unsecured outstanding by the end of 1Q2012.

� Next to that, a further run-down of the collateralized/secured lines is foreseen.

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� Total investment portfolio consists of 3 parts: the former "legacy" portfolio, the ALM portfolio of t he Bank & the portfolio of the insurance company:

● In the Dexia Group context, the Legacy portfolio was identified as the portfolio that had to be reduced more quickly owing to the liquidity problem.

● This distinction is less important in the new context. A harmonised risk view is set in place

� Each bank has a bond portfolio, chiefly to comply with the liquidity ratios and to be able to respond to any sudden major decrease in funding.

� On the basis of the credit ratings (after guarantee if applicable), 95.8% of the notional amount is investment grade

� Average maturity: 11 years

� Substantial reduction in 2011 was mainly attributable to the disposal of Legacy assets (€ 5.8 bn)

Update main aspects Balance Sheet - consolidatedInvestment portfolio, including Legacy, actively reduced since 2008 - nominal -

3731

26 23 20 19 18

12

11

98

8 7 7

1516

1615

15 16 16

Dec 2008 Dec 2009 Dec 2010 Mrt 2011 Jun 2011 Sept 2011 Dec 2011

“Legacy”

ALM Insurance

6458

5146

43 42ALM Bank 41

€ bn

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Update main aspects Balance Sheet - consolidatedOutstanding exposure on sovereign PIGSI after write-down of Greece

� Total PIGSI exposure decreased to € 6.5 bn, a significant reduction of ~31 % due to deleveraging, specific provisions (Greece) and fair value evolution.

� Exposure to Italy decreased with € 0.7 bn in Q4 of which € 0.5 bnthrough accelerated deleveraging.

Note: As from 3Q2011, DBB presents the credit risk measure MCRE (Maximum Credit Risk Exposure). In case of bonds classified in Available for Sale category, MCRE corresponds to the fair value, after deduction of specific provisions. This concept enables a more factual & precise assessment of risk for the PIGSI assets

m€ 2010 2011 % diff

Portugal 336 253 -25%

Ireland 326 352 8%

Greece 1,810 670 -63%

Spain 1,225 853 -30%

Total PIGS 3,697 2,128 -42%

Italy 5,659 4,355 -23%

Total PIGSI 9,356 6,483 -31%

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Contents

I. Intro

II. Looking back on 2011

III. A new name

IV. Questions

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Why did we go in search of a new name?

� We have the free right of use but not the right of ownership of the brand name “DEXIA”

� The brand name “DEXIA” has been seriously damaged and no longerinspires confidence, either internally or externally.

� The confusion between the DEXIA Group and Dexia Bank Belgium remains a problem for our commercial franchises.

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Creativity and legal feasibility go hand in hand

4,073proposals

1st checkIdentical brand

Identical company name

130 Long list

2nd checkSimilar brand

and precedence(Benelux + EU 27)

15 Short list

Remarkable

Top Mgt feedback

5Short list

Anonymousmarket survey

(#1200)

Stakeholderreactions

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Tight schedule and parallel route for logo and house style

Q4 2011 Q1

Jan Feb

Route towards new name

30/11

Decisionto start

15/12

Long list

13/01

Shortlist

March

Route towards new logo + development of house style

Designbriefing

22/0214/01

April

Q2

May JuneOct Nov Dec

01/02

ProposalMB

28/02

DecisionBoD

ProposalMB

28/02

DecisionBoD

01/03

D-Day

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What were our criteria for a name and logo?

� A clear break with the past and the Dexia Group (name – logo –colour scheme)

� No more abbreviations but rather associations

� Usable throughout the whole country

� One that is easily recognisable and distinctive within the sector, but above all …

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What were our criteria for a name and logo?

… one that underpins our identity as a locally-based relationship bank providing added value to Belgian society

Explicit, clear, transparent

Locally-based relationship bank

Added valuefor

Society

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The new name, the new logo and the visual identity

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Belfius

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Belfius

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Belfius

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Belfius

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Belfius

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Belfius

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Belfius

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Belfius

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Campaign “Name change” 02/03/2012 - 16/04/2012

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A phased, cost-conscious implementation

� Dexia logo disappears on HQ buildings

� Homepage on website(s) www.nieuwenaam.be

� Launching of internal and external communication

� Launch campaign in newspapers and on radio and television (billboarding)

� Test branches and High Traffic Points rebranded

� All stationery and documents from the chains adapted

� New debit and credit cards with new layout

� Stickers in branches

� Starter kit for branches (pens / notepads / covers / etc.)

� Change of e-mail addresses

From 01/03/2012 From 16/04/2012 From 10/06/2012

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Contents

I. Intro

II. Looking back on 2011

III. A new name

IV. Questions

36

Questions?