ANNUAL REPORT 2019

Caisse Desjardins de Bordeaux–Cartierville–Saint-Laurent

Head office3500, boul. de la Côte-VertuMontréal (Québec) H4R 1P8514 334-6006

CAISSE DESJARDINS DE BORDEAUX–CARTIERVILLE–SAINT-LAURENT

Note to readers

This annual report provides an overview of Caisse Desjardins de Bordeaux–Cartierville–Saint-Laurent's key financialdata as at December 31, 2019.

This document complies with the reporting requirements of the Act respecting financial services cooperatives and theAutorité des marchés financiers and was approved by the caisse board of directors.

Christian Bélanger, ChairMonique Charland, Secretary

About Caisse Desjardins deBordeaux–Cartierville–Saint-Laurent:

43,456 members

$32,479 given back through our CommunityDevelopment Fund

A dynamic team of managers and employees under thegeneral management of Yves Gibeau

Dedicated directors

Christian Bélanger Chair

Ghislain Roby Vice-Chair

Monique Charland Secretary

Catherine Beaucage Director

Chaya Borelowski Director

Karine Cherbaka Director

Pierre Constantin Charles Director

Minh Dat Nguyen Director

Jean-Pierre Girard Director

Micheline Langlois Director

Martine Melançon Director

Jacques Primeau Director

Arielle Rakoto Director

Frédérick St-Onge Director

Luc Tremblay Director

Desjardins Group highlights

Surplus earnings before member dividends up$272 million compared to 2018, for a total of$2,598 million, including:

$1,881 million from Personal and BusinessServices

$729 million from Wealth Management andLife and Health Insurance

$187 million from Property and CasualtyInsurance

$203.5 billion in outstanding loans andacceptances

$67.6 billion in assets under management

21.6% Tier 1A capital ratio

9.9% return on equity, compared to 9.3% in2018

Adjusted return on equity of 8.9%, the sameratio as in 2018

Assets having exceeded $300 billion to total$313 billion

$17,909 million in operating income

$445 million given back to members and thecommunity

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CAISSE DESJARDINS DE BORDEAUX–CARTIERVILLE–SAINT-LAURENT

Caisse Financials

Assets of $1,510,713K, up 7.4%

Liabilities of $1,364,261K, an increase of 7.4%

Equity of $146,452K, up 7.7%

Capital stock: $2,843K

Distributable surplus earnings: $9,518K

Accumulated other comprehensiveincome: $1,956K

Reserves: $132,135K

Stabilization reserve: $4,091K

Reserve for future member dividends: $6,579K

Community Development Fund: $479K

Operating surplus earnings of $12,331K, up 28.3%

Interest income totalling $43,229K, an increaseof 13.8%

Interest expenses of $17,430K, up 16.2%

Other income totalling $7,993K, up 4.4%

Non-interest expenses of $20,921K, an increaseof 2.7%

All loans to restricted parties* were granted inAll loans to restricted parties* were granted in

accordance with the caisse's applicable rules ofaccordance with the caisse's applicable rules of

professional conduct. Loans granted to restricted partiesprofessional conduct. Loans granted to restricted parties

totalled totalled $716K.K.

**Restricted partiesRestricted parties include: include:

a)a) Caisse directors and the caisse general manager,Caisse directors and the caisse general manager,

including their relatives including their relatives

b)b) Federation directors, including their relativesFederation directors, including their relatives

Investment Funds

The money that caisses invest in these funds allows the

Fédération des caisses Desjardins du Québec (the

Federation) to invest in Desjardins Group subsidiaries and

regional projects. The table below indicates the caisse's

interest in each investment fund and the fund's return at

the end of the fiscal year.

Provincial funds Value of shares held as at

December 31, 2019($)

Averagereturn

(%)

Société de Services descaisses Desjardins (SER) (578) 0.0

Desjardins CapitalManagement (INV) 109,299 30.6

Desjardins FinancialHolding (FIN5A) 46,010,829 12.1

The Federation's obligation toholders of permanent shares

Further to a recommendation issued by the Autorité des

marchés financiers, the Federation guarantees that it will

indemnify Quebec caisse members holding permanent

shares in the event of losses resulting from

misinformation in the audited Combined Financial

Statements of the Desjardins caisses in Quebec and

Desjardins Group's annual Management's Discussion and

Analysis. These documents are available at

www.sedar.com. The Federation's obligation in this matter

is subject to certain conditions. Holders of permanent

shares can request more information at their caisse.

The Combined Financial Statements of the Desjardins

caisses in Quebec are also available to the public at

www.desjardins.com.

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CAISSE DESJARDINS DE BORDEAUX–CARTIERVILLE–SAINT-LAURENT

Summary of the loan portfolio

As at December 31, 2019, the quality of the caisse's loan portfolio remained high. Gross impaired loans represent just 0.4% of total gross loans. The table below shows the grosscarrying amount of loans and their allowance balance by stage:

Stage 1Non-credit impared

Stage 2Non-credit impared

Stage 3Credit-impared

Total 2019 Total 2018

As at December 31(in thousands of Canadian dollars)

Gross carryingamount

Allowance forcredit losses

Gross carryingamount

Allowance forcredit losses

Gross carryingamount

Allowance forcredit losses

Gross carryingamount

Allowance forcredit losses

Net carryingamount

Net carryingamount

Residential mortgages 1,059,112 233 53,694 254 3,488 192 1,116,294 679 1,115,615 1,065,982Consumer and otherpersonal loans 47,823 74 8,831 115 286 160 56,940 349 56,591 55,197

Business and government 124,510 77 7,894 40 1,136 377 133,540 494 133,046 111,716

Total 1,231,445 384 70,419 409 4,910 729 1,306,774 1,522 1,305,252 1,232,895

For more information, see Note 2, "Basis of presentation and significant accounting policies" to the Combined Financial Statements of the Desjardins caisses in Quebec for the yearended December 31, 2019, available at www.desjardins.com. Certain comparative figures have been reclassified to conform with the presentation to the current year's annualreport.

Summary of the deposit portfolio

As at December 31, 2019, the caisse's member deposits totalled $1,061,121K, up $42,594K, or 4.2%, year over year. Deposits by individuals provide the main source of fundingfor the caisse's expansion. These deposits represent 76.4% of total deposits as at December 31, 2019. The following table shows the breakdown of deposits by type of depositorwith amounts by type of savings*.

As at December 31(in thousands of Canadian dollars)

Payable on demand

Payable uponnotice

Payable on afixed date

Total 2019 Total 2018

Individuals 407,542 28,767 374,204 810,513 784,637

Business and government 197,007 1,567 50,461 249,035 232,802

Deposit-taking institutions - - 1,573 1,088

Total 606,122 30,334 424,665 1,061,121 1,018,527

*For more information on presentation and significant accounting policies, see Note 2 to the Combined Financial Statements of the Desjardinscaisses in Quebec, available at www.desjardins.com.

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