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Crédit Agricole S.A.Update of the 2011 registration document - A033.6 Operating expenses(in millions of euros) 30/06/2012 31/12/2011 30/06/2011Employee expenses (3,786) (7,824) (3,831)Taxes other than on income or payroll-related (198) (504) (192)External services and other general operating expenses (2,134) (4,550) (2,235)OPERATING EXPENSES (6,118) (12,878) (6,258)At 30 June 2012, €40 million was released from provisions related to the Group adjustment plan, recognisedunder employee expenses.At 30 June 2012, a €54 million restructuring provision was recognised at Cariparma following the voluntarydeparture plan.Analysis of employee expenses(in millions of euros) 30/06/2012 31/12/2011 30/06/2011Salaries (1) (2,677) (5,543) (2,718)Contributions to defined-contribution plans (230) (471) (228)Contributions to defined-benefit plans (14) (84) (12)Other social security expenses (593) (1,154) (576)Profit-sharing and incentive plans (112) (263) (143)Payroll-related tax (160) (309) (154)TOTAL EMPLOYEE EXPENSES (3,786) (7,824) (3,831)(1) Salaries include the following expenses related to shared-based payments:• in respect of share-based compensation, Crédit Agricole S.A. Group recognised an expense of €3.8million at 30 June 2012 (including €3.2 million related to the free share allocation plan) compared to€4.6 million at 31 December 2011(including €1.2 million related to the free share allocation plan);• in respect of deferred variable compensation paid to market professionals, Crédit Agricole S.A. Grouphas recognised an expense of €40 million at 30 June 2012 compared to an expense of €69 million at 31December 2011 and an expense of €46 million at 30 June 2011.The measurement of employee benefits does not take into account French decree 2012-847 relatingto pension eligibility at 60 years, adopted on 2 July 2012 and published in France's official journal on 3July 2012. The entity does not expect this application to have a significant effect on its net income orshareholders' equity.Obligations concerning public pension schemes in Greece (Emporiki Bank)Greece's Supreme Court made a decision on this matter on 5 July 2012. The Supreme Courtoverturned the decision of the Athens Appeal Court and rejected the claim by the bank employees'union, finding that act 3371/2005 is constitutional and that matters of mandatory social insurance aregoverned by statute and not by private agreements.It decided that the matter should be re-heard before the Athens Appeal Court, differently composedand this time bound by the various legal findings made by the Supreme Court.Page 148 sur 237