FINANCIAL REPORT 2016

Quoted prices in active markets for identical instruments: LEVEL 1

Valuation based on observable data: LEVEL 2

Valuation based on unobservable data: LEVEL 3

Total 31.12.2015

(in thousands of euros)

FINANCIAL ASSETS HELD-FOR-TRADING

339042

0

339042

0

Securities held-for-trading

0

• Treasury bills and similar securities Derivative instruments AVAILABLE-FOR-SALE FINANCIAL ASSETS

339042

339042

20562362 20555275

7087

0

Treasury bills and similar securities

6582148

6582148

Bonds and other fixed income securities

13972839

13972839

Equities and other variable- income securities

7375

288

7087

HEDGING DERIVATIVE INSTRUMENTS

18180

18180

0

TOTAL FINANCIAL ASSETS MEASURED AT FAIR VALUE

20919584 20555275

364309

0

Financial liabilities measured at fair value

Quoted prices in active markets for identical instruments: LEVEL 1

Valuation based on observable data: LEVEL 2

Valuation based on unobservable data: LEVEL 3

Total 31.12.2016

(in thousands of euros)

FINANCIAL LIABILITIES HELD-FOR-TRADING

404354

0

404354

0

Derivative instruments

404354

404354

HEDGING DERIVATIVE INSTRUMENTS

228019

228019

TOTAL FINANCIAL LIABILITIES MEASURED AT FAIR VALUE

632373

0

632373

0

Quoted prices in active markets for identical instruments: LEVEL 1

Valuation based on observable data: LEVEL 2

Valuation based on unobservable data: LEVEL 3

Total 31.12.2015

(in thousands of euros)

FINANCIAL LIABILITIES HELD-FOR-TRADING

332553

0

332553

0

Derivative instruments

332553

332553

HEDGING DERIVATIVE INSTRUMENTS

99567

99567

0

TOTAL FINANCIAL LIABILITIES MEASURED AT FAIR VALUE

432120

0

432120

0