** SOCIETE GENERALE SGD TIER 2 – IPG: 4.50% AREA **

Issuer: SOCIETE GENERALE (BBG Ticker : SOCGEN)
Status of Notes: Dated Subordinated, Tier 2, pari passu with existing Tier 2s (see EMTN Programme dated 14 March 2016 and supplemented thereafter condition 3b Status of the Notes)
Issuer Ratings: A2 st/ A st/ A st/ A (high) st (Moody’s / S&P / Fitch / DBRS)
Expected Issue Ratings: Baa3 / BBB / A- (Moody’s / S&P / Fitch)
Currency / Size: SGD Benchmark
Settlement Date: [•] May 2016
Call Date: [•] May 2021
Maturity Date: [•] May 2026
IPG: 4.50% area
Coupon: From [•] May 2016 (including) to [•] May 2021 (excluding): Fixed rate of [•]%, If not called, from [•] May 2021 (including) to [•] May 2026 (excluding): a one time reset for the remaining five years at the five-year SGD SOR rate on [•] May 2021 plus [•] bps (with [•] bps being the initial re-offer spread over five-year SGD SOR at pricing)
Interest Format: [•]%, Semi-Annual, Act/365 Fixed
Re-offer Spread: 5Y SGD SOR + [•]bp
Interest Payment Dates: [•] May and [•] November in each year, commencing from [•] November 2016
Reset date: [•] May 2021
Tax/ Regulatory call: At par plus accrued interest
Variation/Substit: Subject to certain conditions (see condition 6. Redemption and Purchase of the Programme), the Issuer may at any time substitute all (but not some only) of the Notes or vary the terms of all (but not some only) of the Notes, without any requirement for the consent or approval of the Holders, so that they become or remain Qualifying Tier 2 Notes which have terms not materially less favourable to the Noteholders, subject to the prior approval of the Regulator
Denoms: SGD 250,000 + SGD 250,000
Listing/Docs: Euronext Paris
Clearing: Euroclear / Clearstream
Form of the Notes: Bearer Form (CGN)
Business Days: TARGET, Singapore, London
Business Days (Interest Determination): TARGET, Singapore, London
Selling Restrictions: As per the EMTN Programme dated 14 March 2016 and supplemented thereafter
Governing Law: The Notes will be governed by, and construed in accordance with, English law, except for condition 3b Status of the Notes which shall be governed by, and construed in accordance with, French law.
Global Coordinator: SGCIB
Joint-Bookrunners: DBS Bank Ltd. / OCBC Bank / SGCIB (B&D)

** COMPS
ABNANV4.75 26 (Baa3/BBB-/A-):102.85, 4.10%
BNP4.3 25 (Baa2/BBB+/A): 102.00, 3.82%
BPCEGP4.45 25 (Baa3/BBB/A-)101.00, 4.21%