APPLICABLE FINAL TERMS. Dated 27 November 2015 SG ISSUER ISSUE OF CASH SETTLED OPEN ENDED SHARE LINKED WARRANTS

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1 APPLICABLE FINAL TERMS Dated 27 November 2015 SG ISSUER ISSUE OF CASH SETTLED OPEN ENDED SHARE LINKED WARRANTS Unconditionally and irrevocably guaranteed by Société Générale under the Warrants Issuance Programme PART A CONTRACTUAL TERMS Terms used herein shall be deemed to be defined as such for the purposes of the Terms and Conditions set forth under the heading "Terms and Conditions of the Warrants" in the base prospectus dated 1 July 2015 as amded by the supplemts thereto dated 21 September 2015 and 27 October 2015 (which constitutes a Base Prospectus for the purposes of article 5.4 of the Prospectus Directive 200/71/EC) (the Prospectus Directive) as amded (which includes the amdmts made by Directive 2010/7/EU (the 2010 PD Amding Directive) to the extt that such amdmts have be implemted in a Member State). This documt constitutes the Final Terms of each Issue of Warrants described herein for the purposes of Article 5.4 of the Prospectus Directive and Article 8.4 of the loi luxembourgeoise relative aux prospectus pour valeurs mobilières dated 10 July 2005, as amded, which implemts the Prospectus Directive and must be read in conjunction with the Base Prospectus and any supplemt thereto and any other supplemt published prior to the Issue Date (as defined below) (Supplemt(s)); provided, however, that to the extt such Supplemt (i) is published after these Final Terms have be signed or issued and (ii) provides for any change to the Terms and Conditions as set out under the heading "Terms and Conditions of the Warrants", such change(s) shall have no effect with respect to the terms and conditions of the Warrants to which these Final Terms relate. Full information on the Issuer, the Guarantor and the offer of the Warrants is only available on the basis of the combination of these Final Terms, the Base Prospectus and any Supplemt(s). A summary of the Warrants (which comprises the summary in the Base Prospectus as amded to reflect the provisions of these Final Terms) is annexed to these Final Terms. Copies of the Base Prospectus, any Supplemt(s) and these Final Terms are available for inspection from the head office of the Issuer, the Guarantor, the specified offices of the Paying Agts and on the website of the Issuers (

2 1. Date on which the Warrants become fungible: Not applicable 2. (i) Settlemt Currcy: SEK (ii) Currcy conversion in accordance with Condition 1 of the Geral Terms and Conditions: Applicable. Number of Warrants: Means in respect of each Issue of Warrants: Number of Issue Warrants A 500,000 B 500,000 C 500,000 D 500,000 E 500,000 F 500,000 G 500,000 H 500,000 I 500,000 J 500,000 K 500,000 L 500,000 M 500,000 N 500,000 O 500,000 P 500,000 Q 500,000 R 500,000 S 500,000 T 500,000 U 500,000 V 500,000 W 500,000 X 500,000 Y 500,000 Z 500, Issue Price: Means in respect of each Issue of Warrants: Issue Issue Price A SEK 8.2 B SEK 118 C SEK 15

3 D SEK 152 E SEK 15.6 F SEK 18.6 G SEK 20.6 H SEK 21.9 I SEK 25.9 J SEK 29.9 K SEK 27. L SEK 7.55 M SEK 8.55 N SEK 12.2 O SEK P SEK 19.5 Q SEK 22.5 R SEK.09 S SEK.59 T SEK 4.09 U SEK 2.6 V SEK 8.6 W SEK 4.48 X SEK 5.18 Y SEK 5.88 Z SEK Issue Date: 27/11/ Notional Amount per Warrant: Not applicable 7. Expiration Date (Fixed Scheduled Exercise Style Warrants): The Warrants are Op-ded Warrants. Condition 5.1 of the Geral Terms and Conditions applies. 8. (i) Settlemt Date: The Warrants are Op-ded Warrants (ii) Scheduled Settlemt Date: Not applicable 9. Type of Warrants: Unsecured Fixed Scheduled Exercise The Warrants are Put Warrants. The Warrants are Share Linked Warrants. The Warrants are Turbo Warrants. The provisions of the following Additional Terms and Conditions

4 apply: Additional Terms and Conditions relating to One-Delta, Fixed Leverage and Turbo Warrants Additional Terms and Conditions for Share Linked Warrants Such Additional Terms and Conditions contain, amongst others, the provisions for determining any amount where calculation is impossible or impracticable 10. Referce of the Product:..1 "Turbo", as described in the Additional Terms and Conditions relating to One-Delta, Fixed Leverage and Turbo Warrants PROVISIONS RELATING TO SETTLEMENT 11. Type of Settlemt: The Warrants are Cash Settled Warrants 12. Cash Settlemt Amount: As set out in Condition 5.1 of the Geral Terms and Conditions 1. Conversion Rate: Means the rate of conversion betwe the Settlemt Currcy and the currcy in which the Cash Settlemt Amount is dominated. If the currcy in which ExercisePriceInitial is expressed is the same as the Settlemt Currcy, th the applicable Conversion Rate will be equal to 1. If the currcy in which ExercisePriceInitial is expressed is not the same as the Settlemt Currcy, the applicable Conversion Rate will be the rate of exchange published by the WM Company on the Final Valuation Date as of the closing fixing time of the WM Company (or, in case of an Evt-linked Early Expiration, the rate published by Reuters at the time of an Early Expiration Evt) for conversion of any amount from the currcy in which the ExercisePriceInitial is expressed for the relevant Warrant, into the Settlemt Currcy. The Conversion Rates published by the WM Company are published on the Bloomberg s WMCO, (or, in case of an Evt-linked Early Expiration, the Conversion Rates are published by Reuters on the ReutersFXScrePage in respect of each Issue of Warrants). Where ReutersFXScrePage means in respect of Issue of Warrants: Not applicable

5 14. Substitute Conversion Rate: If any Conversion Rate is not displayed on the Bloomberg s WMCO or, in case of an Evt-linked Early Expiration, on the ReutersFXScrePage in respect of each Issue of Warrants, (or, if applicable and in either case, any successor service or used by the Calculation Agt for the purpose of ascertaining such rate) for a period of more than 7 Valuation Dates and such rate is, in the opinion of the Calculation Agt, reasonably expected to be discontinued (such rate th being the "Discontinued Conversion Rate") th the Calculation Agt shall determine the Conversion Rate (a) by selecting a successor rate for such Discontinued Conversion Rate which offers similar economic characteristics to the Discontinued Conversion Rate or, if the Calculation Agt determines that no such successor rate exists, (b) on the basis of such other information it deems, acting in good faith, to be appropriate. 15. Physical Delivery Warrant Provisions: Not applicable 16. Parity: Means in respect of each Issue of Warrants: Final Settlemt Price: Unless previously exercised or cancelled in accordance with the Terms and Conditions, the Final Settlemt Price for each Warrant will be determined in accordance with the following provisions: Condition..1.2 of the Additional Terms and Conditions relating to One-Delta, Fixed Leverage and Turbo Warrants shall apply as follows: Final Settlemt Price = UnderlyingPrice_FSP(T) / FX(T) 18. Averaging Date(s): Not applicable 19. Optional Early Expiration at the option of the Issuer: Applicable as per Condition 5.6 of the Geral Terms and Conditions (i) Optional Early Settlemt Amount: Determined in accordance with Option of Condition 5.6 of the Geral Terms and Conditions. (ii) Optional Early Settlemt Price: Determined in accordance with Option of Condition 5.6 of the Geral Terms and Conditions. (iii) Optional Early Expiration in Part: Not applicable (iv) Optional Early Settlemt Valuation Date: Means the third Valuation Date following the date of the notice by which the Issuer has notified the Warrantholders that the

6 relevant Issue of Warrants will be subject to Early Expiration at the option of the Issuer in accordance with Condition 5.6 of the Geral Terms and Conditions. (v) Notice Period: Means the period starting on the date of the notice by which the Issuer has notified Warrantholders that the relevant Issue of Warrants will be subject to Early Expiration at the option of the Issuer in accordance with Condition 5.6 of the Geral Terms and Conditions and ding on the Optional Early Expiration Date. (vi) Optional Early Expiration Date: (vii) Optional Early Settlemt Date: 20. Optional Early Expiration at the option of the Warrantholder: Means a date specified by the Issuer in the notice giv to the Warrantholders, which shall be not earlier than the fourth Valuation Date following the date of the notice by which the Issuer has notified the Warrantholders that the relevant Issue of Warrants will be subject to Early Expiration at the option of the Issuer in accordance with Condition 5.6 of the Geral Terms and Conditions. Not later than the twelfth Business Day following the Optional Early Expiration Date. Not applicable 21. Evt-linked Early Expiration: Applicable in accordance with Condition 5.10 of the Geral Terms and Conditions (i) Early Expiration Evt: Condition..1.1 of the Additional Terms and Conditions relating to One-Delta, Fixed Leverage and Turbo Warrants shall apply as follows: An Early Expiration Evt is deemed to have occurred if on any Valuation Date(i), and on any Calculation Time (v), Price(i,v) is higher than or equal to StopLossLevelCurrt(i) (ev if such Valuation Date(i) is subject to a Market Disruption Evt). (ii) Evt-linked Early Settlemt Amount: (iii) Evt-linked Early Settlemt Price: Means an amount equal to the excess of the Exercise Price over the Evt-linked Early Settlemt Price, th divided by the Parity. Condition..1.1 of the Additional Terms and Conditions relating to One-Delta, Fixed Leverage and Turbo Warrants shall apply as follows: Unless previously exercised or cancelled in accordance with the Terms and Conditions, the Evt-linked Early Settlemt Price for each Warrant shall be the Early Settlemt Price for each Warrant which will be determined in accordance with the

7 following provisions: Early Settlemt Price(i) = UnderlyingPrice_ESP(i) / FX(i) (iv) (v) Evt-linked Early Expiration Period: Evt-linked Early Expiration Date: Not applicable The day on which an Early Expiration Evt occurs (vi) Evt-linked Early Settlemt Date: 22. Trigger early settlemt at the option of the Issuer: 2. Early Trigger Level Settlemt Amount(s) payable: Not later than the twelfth Business Day following the occurrce of an Early Expiration Evt. Applicable as per Condition 5.8 of the Geral Terms and Conditions As per Condition 5.8 of the Geral Terms and Conditions 24. Structured Amount Warrants: Not applicable PROVISIONS RELATING TO EXERCISE 25. Exercise: Automatic Exercise (i) Exercise Price: ExercisePriceInitial (as specified in paragraph 29 (ii) below in respect of each Issue of Warrants) (subject to the provisions of Condition..0.2 of the Additional Terms and Conditions relating to One-Delta, Fixed Leverage and Turbo Warrants) Exercise Price Adjustmt without Foreign Guarantee Applicable The Exercise Price (i) in respect of any Valuation Date(i) is determined in accordance with the following: On Valuation Date(0): Exercise Price (0) = ExercisePriceInitial For each subsequt Valuation Date(i), Exercise Price(i) shall be determined in accordance with the following formula: Exercise Price (i) = Exercise Price(i-1) x (1 + %FinancingRate(i- 1) - %RepoRate(i))^(ACT(i-1;i)/DayCountBasis) - %DistRate(i) x Dist(i) Where %FinancingRate, DayCountBasis, %DistRate, %RepoRate(i) and ExercisePriceInitial are defined in paragraph 29 (ii) below.

8 Exercise Price Adjustmt with Foreign Guarantee Not applicable (ii) Minimum Exercise Number: Not applicable (iii) Maximum Exercise Number: Not applicable (iv) Units Not applicable 26. Credit Linked Warrants Provisions Not applicable 27. Bond Linked Warrants Provisions Not applicable PROVISIONS APPLICABLE TO THE UNDERLYING(S) IF ANY 28. (i) Underlying(s): In respect of each Issue of Warrants, see information relating to the relevant Underlying for each Issue of Warrants in the "Table of Information for each Underlying" below: Table of Information for each Underlying: Issue Company Share ISIN Code Bloomberg Website A Atlas Copco AB (publ) SE ATCOA SS Stockholm Stock mxnordic.com B Autoliv Inc SE ALIV SS C Autoliv Inc SE ALIV SS D Autoliv Inc SE ALIV SS E Bolid AB (publ) SE BOL SS F Bolid AB (publ) SE BOL SS G Bolid AB (publ) SE BOL SS H Electrolux AB (publ) SE ELUXB SS I Electrolux AB (publ) SE ELUXB SS J Electrolux AB (publ) SE ELUXB SS K Modern Times Group AB (publ) SE MTGB SS L Nokia OYJ FI NOKISEK SS Stockholm Stock Stockholm Stock Stockholm Stock Stockholm Stock Stockholm Stock Stockholm Stock Stockholm Stock Stockholm Stock Stockholm Stock Stockholm Stock Stockholm Stock mxnordic.com mxnordic.com mxnordic.com mxnordic.com mxnordic.com mxnordic.com mxnordic.com mxnordic.com mxnordic.com mxnordic.com mxnordic.com

9 M Nokia OYJ FI NOKISEK SS N Nordea Bank AB (publ) SE NDA SS O Skandinaviska Enskilda Bank AB (publ) SE SEBA SS P Skanska AB (publ) SE SKAB SS Q Skanska AB (publ) SE SKAB SS R SSAB AB (publ) SE SSABA SS S SSAB AB (publ) SE SSABA SS T SSAB AB (publ) SE SSABA SS U Swedish Match AB (publ) SE SWMA SS V Swedish Match AB (publ) SE SWMA SS W TeliaSonera AB (publ) SE TLSN SS X TeliaSonera AB (publ) SE TLSN SS Y TeliaSonera AB (publ) SE TLSN SS Z Volvo AB (publ) SE VOLVB SS Stockholm Stock Stockholm Stock Stockholm Stock Stockholm Stock Stockholm Stock Stockholm Stock Stockholm Stock Stockholm Stock Stockholm Stock Stockholm Stock Stockholm Stock Stockholm Stock Stockholm Stock Stockholm Stock mxnordic.com mxnordic.com mxnordic.com mxnordic.com mxnordic.com mxnordic.com mxnordic.com mxnordic.com mxnordic.com mxnordic.com mxnordic.com mxnordic.com mxnordic.com mxnordic.com (ii) Information relating to the past and future performances of the Underlying(s) and volatility: (iii) Provisions relating, amongst others, to the Market Disruption Evt(s) and/or Disruption Evt(s) and/or Extraordinary Evt(s) and/or Monetisation until the Expiration Date and/or any additional disruption evt as described in the relevant Additional Terms and Conditions: (iv) Other information relating to the Underlying(s): Information relating to the performance of each Underlying is available on the relevant website specified above and details regarding the volatility of each Underlying can be obtained on the relevant Bloomberg specified above and upon request, at the London office of Société Générale and at the office of the Agt. The provisions of the following Additional Terms and Conditions apply: Additional Terms and Conditions for Share Linked Warrants Information or summaries of information included herein with respect to the Underlying(s), has be extracted from geral databases released publicly or by any other available information. Each of the Issuer and the Guarantor confirms that such information has be accurately reproduced and that, so

10 far as it is aware and is able to ascertain from information published, no facts have be omitted which would rder the reproduced information inaccurate or misleading. DEFINITIONS 29. (i) Definitions relating to date(s): Applicable Valuation Date(s) Valuation Date(i) means each Scheduled Trading Day from (and including) the Initial Valuation Date to (and including) the Final Valuation Date. Valuation Date(0) means the Initial Valuation Date, and for each subsequt day (i), Valuation Date(i) is the Scheduled Trading Day immediately following Valuation Date(i-1). Initial Valuation Date means 24/11/2015 Final Valuation Date or Valuation Date(T) means the Optional Early Settlemt Valuation Date (if any). (ii) Definitions relating to the Product: Applicable, subject to the provisions of the Additional Terms and Conditions relating to One-Delta, Fixed Leverage and Turbo Warrants. Specific Definitions relating to the determination of the Product Formula Dist(i) means, for any Valuation Date(i), the Gross Ordinary Distributions, in respect of the Underlying, which may be detached with an ex date betwe Valuation Date(i-1) excluded and Valuation Date(i) included. FX(i) means, for any Valuation Date(i), the spot exchange rate as of the FXSourceFixingTime to convert the BaseCurrcy into the TurboCurrcy in respect of such Valuation Date(i), as published by the FXSource, or any successor thereto. If no such rate is available on such Valuation Date(i), FX(i) shall be the first available spot exchange rate as of the FXSourceFixingTime to convert the BaseCurrcy into the TurboCurrcy following such day, as published by the FXSource, or any successor thereto. Price(i,v) If, in respect of any Issue of Warrants, the BaseCurrcy and the TurboCurrcy are the same, FX(i) shall be equal to 1. means, in respect of each Valuation Date(i) and Calculation Time(v), the Intraday Price of the Underlying as defined in the Additional Terms and Conditions for Share Linked Warrants as of such Valuation Date(i) and Calculation Time(v).

11 Price(i) means, in respect of each Valuation Date(i), the Referce Price of the Underlying as of such Valuation Date(i), subject to the adjustmts and provisions of the Additional Terms and Conditions for Share Linked Warrants. Calculation Time StopLossLevelCurrt(i) means with respect to the Underlying, any time betwe the TimeReferceOping and the TimeReferceClosing. means, in respect of Valuation Date(i), a level which is determined in accordance with the following formulae: StopLossLevelCurrt(0) = StopLossLevelInitial For each Valuation Date(i) subsequt to the Initial Valuation Date: if Valuation Date(i) is an Actualisation Date: StopLossLevelCurrt(i) = Exercise Price(i) x (1 + %Perctage(i)) if Valuation Date(i) is not an Actualisation Date: StopLossLevelCurrt(i) = StopLossLevelCurrt(i-1) UnderlyingPrice_ESP(i) UnderlyingPrice_ESP(i) means, in respect of Valuation Date(i), the value of the Underlying determined by the Calculation Agt on the basis of the price obtained in unwinding the hedging transactions tered into in connection with the Warrants during the StopLossEvtPeriod immediately following the occurrce of an Early Expiration Evt. UnderlyingPrice_ESP will be at the maximum the highest quotation of the Underlying ascertained by the Calculation Agt during such StopLossEvtPeriod. UnderlyingPrice_FSP(i) Actualisation Date means, in respect of Valuation Date(i), Price(i). means: 1) the 15th caldar day of each caldar month or if such date is not a Valuation Date, the immediately succeeding Valuation Date; and 2) each day as of which a Pottial Adjustmt Evt occurs or which is an ex date in respect of a Gross Ordinary Distribution for the Underlying. Applicable Rates %DistRate(i) Means %DistRate_Constant where %DistRate_Constant means in respect of each Issue of Warrants: 100 % The level of %DistRate(i) is forced to %DistRate_Constant in accordance with Condition 2.5(i) of the Additional Terms and Conditions relating to

12 One-Delta, Fixed Leveraged and Turbo Warrants %FinancingRate(i) means, for each Valuation Date(i): (i) the level of the %FinancingRate_Name for such Valuation Date(i) (as displayed on %FinancingRate_ScrePage, or any successor service or used by the Calculation Agt for the purposes of ascertaining such rate); or (ii) the last available level displayed on %FinancingRate_ScrePage (or any successor service or used by the Calculation Agt for the purposes of ascertaining such rate), if a level of the %FinancingRate_Name dated as of such Valuation Date(i) is not available on such, in both cases as determined by the Calculation Agt. PROVIDED THAT if in the case of (ii) above %FinancingRate_Name is not displayed under %FinancingRate_ScrePage (or, if applicable, any successor service or used by the Calculation Agt for the purpose of ascertaining such rate) for a period of more than 7 Scheduled Trading Days and such rate is, in the opinion of the Calculation Agt, reasonably expected to be discontinued (such rate th being the "Discontinued Rate") th the Calculation Agt shall determine the relevant bchmark rate used in calculating %FinancingRate(i) (a) by selecting a successor rate for such Discontinued Rate which offers similar economic characteristics to the Discontinued Rate or, if the Calculation Agt determines that no such successor rate exists, (b) in good faith and in a commercially reasonable manner on the basis of the cost that Société Générale would charge or be charged to borrow cash in the BaseCurrcy on a RateBasis and, in both cases (a) and (b), publish the relevant bchmark rate used in calculating %FinancingRate(i) on the website with (i) or (ii) (as the case may be) increased by the applicable FinancingSpread. Where %FinancingRate_Name means in respect of each Issue of Warrants: STIBORTN rate Where %FinancingRate_ScrePage means in respect of each Issue of Warrants: STIBORTN= Reuters Where RateBasis means in respect of each Issue of Warrants: overnight basis The level of %FinancingRate(i) is substituted with the above market rate subject to application of a spread in accordance with Condition 2.5(i) of the Additional Terms and Conditions relating to One-Delta, Fixed Leveraged and Turbo Warrants.

13 FinancingSpread Means in respect of each Issue of Warrants: -2.50% %Perctage(i) means, for each Valuation Date(i), a perctage applied to the Exercise Price to determine the StopLossLevelCurrt as determined by the Calculation Agt. %Perctage(i) is initially equal to %Perctage_Initial and will be subject to a minimum level of minus t per ct. (-10%) and a maximum level of zero per ct. (0%). Where %Perctage_Initial means in respect of each Issue of Warrants: The level of %Perctage is subject to a floor, a cap and an initial level in accordance with Condition 2.5(ii) of the Additional Terms and Conditions relating to One-Delta, Fixed Leveraged and Turbo Warrants. %RepoRate(i) means %RepoRateInitial as of Valuation Date(0). For each subsequt Valuation Date(i), the value of %RepoRate(i) may be amded by the Calculation Agt in order to reflect the cost or gain that would be incurred by the Issuer (or any of its affiliates) if it were to borrow or ld hedging instrumts in respect of the Warrant. Variable Data BaseCurrcy Means in respect of each Issue of Warrants: SEK StopLossLevelInitial Means in respect of each Issue of Warrants: Issue StopLossLevelInitial A SEK B SEK C SEK D SEK E SEK 16.4 F SEK G SEK H SEK I SEK J SEK K SEK L SEK 68.4 M SEK 69.5 N SEK O SEK 96.9 P SEK Q SEK R SEK 1.92 S SEK 2.4

14 T SEK 2.87 U SEK V SEK W SEK 45.0 X SEK 45.7 Y SEK 46.6 Z SEK 9.1 DayCountBasis means 60 ExercisePriceInitial Means in respect of each Issue of Warrants: Issue ExercisePriceInitial A SEK 271 B SEK 121 C SEK 120 D SEK 1247 E SEK 172 F SEK 175 G SEK 177 H SEK 278 I SEK 282 J SEK 286 K SEK 271 L SEK 72 M SEK 7 N SEK 108 O SEK 102 P SEK 185 Q SEK 188 R SEK.6 S SEK 4.1 T SEK 4.6 U SEK 25 V SEK 1 W SEK 47.4 X SEK 48.1 Y SEK 48.8 Z SEK 98

15 FXSource means the WM Company (Bloomberg : WMCO) FXSourceFixingTime means the closing fixing time of the WM Company %RepoRateInitial Means in respect of each Issue of Warrants: 0% StopLossEvtPeriod means TimeRange, provided that if the Early Expiration Evt occurs after the TimeLimit (regardless of any period during which a Market Disruption Evt is continuing), th such period shall continue for such number of sequtial next following Scheduled Trading Days as shall be necessary for the total number of such hours to reach the RequiredObservationPeriod. Where an Early Expiration Evt occurs at a time which is outside the regular trading session of the or the Related, the Early Expiration Evt shall be deemed to have occurred at the op of business on the immediately following Scheduled Trading Day and the Calculation Agt shall determine the StopLossEvtPeriod in accordance with the foregoing paragraph. Where TimeRange means in respect of each Issue of Warrants: the period of consecutive hours following the occurrce of an Early Expiration Evt Where TimeLimit means in respect of each Issue of Warrants: hours prior to the regular weekday closing time of the or the Related Where RequiredObservationPeriod means in respect of each Issue of Warrants: TimeReferceClosing TimeReferceOping TurboCurrcy Means the scheduled closing time of the Stockholm Stock Means the scheduled oping time of the Stockholm Stock Means in respect of each Issue of Warrants: SEK Options applicable to Referce Price Referce Price Option Closing Price is applicable. PROVISIONS RELATING TO SECURED WARRANTS 0. Secured Warrant Provisions: Not applicable PROVISIONS RELATING TO PORTFOLIO LINKED WARRANTS 1. Portfolio Linked Warrant Provisions: Not applicable GENERAL PROVISIONS APPLICABLE TO THE WARRANTS 2. Provisions applicable to paymt date(s):

16 - Paymt Business Day: Following Paymt Business Day - Financial Ctre(s): Stockholm. Evts of Default: Applicable 4. Minimum Trading Number: One (1) Warrant 5. Form of the Warrants: 6. Tax Gross Up (Condition 6.2 of the Geral Terms and Conditions): Dematerialised Uncertificated Swedish Warrants in book try form issued, cleared and settled through Euroclear Swed in accordance with the Swedish Financial Instrumts Accounts Act (SFS 1998:1479), as amded. Applicable 7. Date of corporate authorisation obtained for the issuance of Warrants: Not applicable Signed on behalf of the Issuer: By: Duly authorised

17 PART B OTHER INFORMATION 1. LISTING AND ADMISSION TO TRADING (i) Listing: Application has be made for each Issue of Warrants to be listed on the Nordic Derivatives (NDX), a part of the regulated market Nordic Growth Market NGM AB. (ii) Admission to trading: Application has be made for each Issue of Warrants to be admitted to trading on the Nordic Derivatives (NDX), a part of the regulated market Nordic Growth Market NGM, with effect from the Issue Date. There can be no assurance that the listing and trading of the Warrants will be approved with effect on the Issue Date or at all. 2. RATINGS The Warrants to be issued have not be rated.. INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE/OFFER Save for any fees payable to the Dealer, so far as the Issuer is aware, no person involved in the issue of the Warrants has an interest material to the offer. 4. USE OF PROCEEDS, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES (i) Use of proceeds: Not applicable (ii) Estimated net proceeds: (iii) Estimated total expses: Not applicable Not applicable 5. PERFORMANCE OF FORMULA, EXPLANATION OF EFFECT ON VALUE OF INVESTMENT AND ASSOCIATED RISKS This Product may be subject to Evt-linked Early Expiration: o If an Early Expiration Evt is deemed to have occurred, the Product Formula used to determine the Early Settlemt Price relies on the th UnderlyingPrice. Unless the Product has be previously exercised or cancelled, the Product Formula used to determine the Final Settlemt Price in respect of this Product is determined on the basis of the UnderlyingPrice. Paymts in respect of the Warrants will be calculated by referce to the Underlying. If a Warrant's stop loss level (defined as "StopLossLevelCurrt(i)" in paragraph 29(ii) of Part A of these Final Terms) is reached at any point during the product lifespan, the product will expire, pottially with no remaining

18 value. Warrantholders should note that the value of StopLossLevelCurrt(i) is linked to the currt level of the Exercise Price, which is itself subject to variations during the lifespan of the Warrants. The tire amount invested by any person who acquires a Warrant (plus any pottial gains made during the lifetime of the product) is therefore at risk. The value of the Warrants will also be positively or negatively affected by the value of a financing rate (the %FinancingRate) which will vary over time. The Warrants may be subject to adjustmt if certain evts affecting the Underlying occur, all as more fully described in the Additional Terms and Conditions for Share Linked Warrants. The Warrants embed a leverage mechanism which aims to provide an amplified short exposure to the Underlying. Amounts payable (if any) in respect of the Warrants can therefore change by a proportionally greater amount than any change to the value of the Underlying, which may in turn result in investors losing all or a substantial part of their investmt. The value of the Warrants can therefore be volatile. The Warrants may also be subject to a number of costs which would negatively impact the value of the Warrants. If the Settlemt Currcy is differt from the TurboCurrcy, the value of the Warrants will also be impacted by movemts in the foreign exchange rate betwe the Settlemt Currcy and the TurboCurrcy. Further information can be obtained from the website of Société Générale at 6. OPERATIONAL INFORMATION (i) Security idtification code(s): - ISIN code: Means in respect of each Issue of Warrants: Issue A B C D E F G H I J K L M N O P Q ISIN code LU LU LU LU LU LU LU LU LU LU LU LU LU LU LU LU LU

19 R S T U V W X Y Z LU LU LU LU LU LU LU LU LU Local code: Means in respect of each Issue of Warrants: Issue A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Local Code MINISHRT ATC D9 SG MINISHRT ALI C9 SG MINISHRT ALI D1 SG MINISHRT ALI D2 SG MINISHRT BOL D2 SG MINISHRT BOL D SG MINISHRT BOL D4 SG MINISHRT ELU F7 SG MINISHRT ELU F8 SG MINISHRT ELU F9 SG MINISHRT MTG F6 SG MINISHRT NOK G6 SG MINISHRT NOK G8 SG MINISHRT NDA E6 SG MINISHRT SEB F1 SG MINISHRT SKA E4 SG MINISHRT SKA E5 SG MINISHRT SSA F6 SG MINISHRT SSA F7 SG MINISHRT SSA F8 SG MINISHRT SWM D7 SG MINISHRT SWM D8 SG MINISHRT TLS D2 SG MINISHRT TLS D SG MINISHRT TLS D4 SG MINISHRT VOL E9 SG (ii) Clearing System(s): Euroclear Swed AB Box 191, Stockholm, Swed (iii) Delivery: Delivery against paymt

20 (iv) Calculation Agt: Société Générale 29, boulevard Haussmann, Paris, France (v) Agt(s): Nordea Bank AB Smålandsgatan 17, A21 SE Stockholm Swed 7. DISTRIBUTION (i) Method of distribution: Non-syndicated - Names and addresses and any underwriting commitmt of the Dealers: Société Générale 29, boulevard Haussmann, Paris, France The Dealer will initially subscribe on the Issue Date for 100 per ct. of the Warrants to be issued. (ii) Total commission and concession: There is no commission and/or concession paid by the Issuer to the Dealer. (iii) Non-exempt Offer: Applicable A Non-exempt offer of the Warrants may be made by the Dealer in the Public Offer Jurisdiction. The const only extds to the use of this Base Prospectus to make Non-exempt Offers of the Warrants in Swed (Public Offer Jurisdiction) during the offer period (Offer Period) as specified in the paragraph "Public Offers in European Economic Area" below. (iv) Individual Const / Name(s) and addresse(s) of any Initial Authorised Offeror: Applicable. Société Générale 29, boulevard Haussmann, Paris, France (v) Geral Const: Not applicable (vi) Other conditions to const: Not applicable 8. PUBLIC OFFERS IN EUROPEAN ECONOMIC AREA - Public Offer Jurisdiction(s): Swed - Offer Period: From 27/11/2015 to 29/02/ Offer Price: The Warrants will be offered at a price which will be determined by the Dealer on the date of sale, such price being calculated by referce to the price at which the Dealer is prepared to sell the

21 Warrants after taking into account such factors as it deems appropriate in connection with the relevant offer which may include (without limitation) market conditions, the terms of the Warrants, the level of subscriptions and macroeconomic conditions (including but not limited to political and economic situations and outlooks, growth rates, inflation, interest rates, credit spread and interest rate spreads). The Dealer will publish the price at which the warrants are offered on - Conditions to which the offer is subject: - Description of the application process: - Details of the minimum and/or maximum amount of application - Details of the method and time limits for paying up and delivering the Warrants: - Manner and date in which results of the offer are to be made public: - Whether Issue(s) has/have be reserved for certain countries: - Process for notification to applicants of the amount allotted and the indication whether dealing may begin before notification is made: - Amount of any expses and taxes Not applicable The distribution activity will be carried out in accordance with the Initial Authorised Offeror's usual procedures. Prospective investors will not be required to ter into any contractual arrangemts directly with the Issuer in relation to the subscription of the Warrants. Not applicable The Warrants will be issued on the Issue Date against paymt to the Issuer of the net subscription moneys. The Warrants will be delivered on any day during the offer by paymt of the purchase price by the Warrantholders to the Dealer. In connection with the public offer of the Warrants, each investor will be notified by the Dealer or the relevant financial intermediary of its allocation of Warrants. Not applicable In connection with the public offer of the Warrants, each investor will be notified by the Initial Authorised Offeror or the relevant financial intermediary of its allocation of Warrants at any time during or after the d of the Offer Period. None of the Issuer or the Guarantor is responsible for such notification. No dealings in Warrants may take place prior to the Issue Date. Not applicable

22 specifically charged to the subscriber or purchaser: - Name(s) and address(es), to the extt known to the Issuer, of the placers in the various countries where the offer takes place: None 9. ADDITIONAL INFORMATION - Minimum investmt in the Warrants: One (1) Warrant - Minimum trading: One (1) Warrant

23 ISSUE SPECIFIC SUMMARY Summaries are made up of disclosure requiremts known as Elemts, the communication of which is required by Annex XXII of the Commission Regulation (EC) No 809/2004 as amded. These elemts are numbered in Sections A E (A.1 E.7). This summary contains all the Elemts required to be included in a summary for this type of securities and Issuer. Because some Elemts are not required to be addressed, there may be gaps in the numbering sequce of the Elemts. Ev though an Elemt may be required to be inserted in the summary because of the type of securities and Issuer, it is possible that no relevant information can be giv regarding the Elemt. In this case a short description of the Elemt is included in the summary with the mtion of "Not applicable". A.1 Warning Section A Introduction and warnings This summary must be read as an introduction to the base prospectus. Any decision to invest in the warrants should be based on a consideration of the base prospectus as a whole by the investor. Where a claim relating to the information contained in the base prospectus and the applicable Final Terms is brought before a court, the plaintiff investor might, under the national legislation of the Member States, have to bear the costs of translating the base prospectus before the legal proceedings are initiated. Civil liability attaches only to those persons who have tabled this summary, including any translation thereof, but only if the summary is misleading, inaccurate or inconsistt wh read together with the other parts of the base prospectus or it does not provide, wh read together with the other parts of this base prospectus, key information in order to aid investors wh considering whether to invest in the warrants. A.2 Const to the use of the Base Prospectus The Issuer consts to the use of this base prospectus relating to a warrants issuance programme (the Programme) pursuant to which each of Société Générale, SG Issuer, SGA Société Générale Acceptance N.V. and Société Générale Effekt GmbH may from time to time issue warrants (the Base Prospectus) in connection with a resale or placemt of warrants issued under the Programme (the Warrants) in circumstances where a prospectus is required to be published under the article 5.4 of Directive 200/71/EC as amded (the Prospectus Directive) (a Non-exempt Offer) subject to the following conditions: - the const is only valid during the offer period from 27/11/2015 to 29/02/2016 (the Offer Period); - the const giv by the Issuer for the use of the Base Prospectus to make the Non-exempt Offer is an individual const (an Individual Const) in respect of Société Générale, 29, boulevard Haussmann, Paris, France (the Initial Authorised Offeror) and if the Issuer appoints any additional financial intermediaries after 27/11/2015, date of the final terms (the Final Terms) and publishes details of them on its website, each financial intermediary whose details are so published (each an Additional Authorised Offeror); and - the const only extds to the use of this Base Prospectus to make Nonexempt Offers of the Warrants in Swed.

24 The information relating to the conditions of the Non-exempt Offer shall be provided to the investors by any Initial Authorised Offeror at the time the offer is made. B.1 Legal and commercial name of the Issuer B.2 Domicile, legal form, legislation and country of incorporation B.4b Known trds affecting the Issuer and the industries in which it operates B.5 Description of the Issuer s group and the Issuer s position within the group B.9 Figure of profit forecast or estimate of the Issuer B.10 Nature of any qualifications in the audit report on the historical financial information B.12 Selected historical key financial information regarding the Issuer Section B Issuer and Guarantor SG Issuer (or the Issuer) Domicile:, boulevard Prince Hri, L-1724 Luxembourg, Luxembourg. Legal form: Public limited liability company (société anonyme). Legislation under which the Issuer operates: Luxembourg law. Country of incorporation: Luxembourg. The Issuer expects to continue its activity in accordance with its corporate objects over the course of The Group offers a wide range of advisory services and tailored financial solutions to individual customers, large corporate and institutional investors. The Group relies on three complemtary core businesses: Frch Retail Banking; International Retail Banking, Financial Services and Insurance; and Corporate and Investmt Banking, Private Banking, Asset and Wealth Managemt and Securities Services. The Issuer is a subsidiary of the Group and has no subsidiaries. Not applicable. The Issuer does not make any figure of profit forecast or estimate. Not applicable. The audit report does not include any qualification. (in K ) Quarter (non audited) 1 Decembe r 2014 (audited) Quarter (non audited) 1 December 201 (audited) Operating

25 revues Profit from operations Profit from continuing operations Total Assets No material adverse change in the prospects of the Issuer since the date of its last published audited financial statemts Significant changes in the Issuer's financial or trading position subsequt to the period covered by the historical financial information B.1 Rect evts particular to the Issuer which are to a material extt relevant to the evaluation of the Issuer s solvcy There has be no material adverse change in the prospects of the Issuer since 1 December Not applicable. There has be no significant change in the Issuer s financial or trading position since 0 June Not applicable. There have be no rect evts particular to the Issuer which are to a material extt relevant to the evaluation of the Issuer s solvcy.

26 B.14 Statemt as to whether the Issuer is depdt upon other tities within the group B.15 Description of the Issuer s principal activities B.16 To the extt known to the Issuer, whether the Issuer is directly or indirectly owned or controlled and by whom, and description of the nature of such control B.18 Nature and scope of the guarantee See Elemt B.5 above for the description of the Issuer s position within the Group. SG Issuer is depdt upon Société Générale Bank & Trust within the Group. The principal activity of SG Issuer is the issuance of warrants as well as debt securities designed to be placed to institutional customers or retail customers through the distributors associated with Société Générale. The financing obtained through the issuance of debt securities is th lt to Société Générale and to other members of the Group. SG Issuer is a 100 per ct. owned subsidiary of Société Générale Bank & Trust S.A. which is itself a 100 per ct, owned subsidiary of Société Générale and is a fully consolidated company. The Warrants are unconditionally and irrevocably guaranteed by Société Générale (the Guarantor) pursuant to the guarantee dated 1 July 2015 (the Guarantee). The Guarantee constitutes a direct, unconditional, unsecured and geral obligation of the Guarantor and ranks and will rank pari passu with all other existing and future direct, unconditional, unsecured and geral obligations of the Guarantor, including those in respect of deposits. B.19 Information about the Guarantor as if it were the issuer of the same type of security that is subject of the guarantee B.19 / B.1 Legal and commercial name of the Guarantor B.19 / B.2 Domicile, legal form, legislation and The information about Société Générale as if it were the issuer of the same type of Warrants that is subject of the Guarantee is set out in accordance with Elemts B.19 / B.1, B.19 / B.2, B.19 / B.4b, B.19 / B.5, B.19 / B.9, B.19 / B.10, B.19 / B.12, B.19 / B.1, B.19 / B.14, B.19 / B.15 and B.19 / B.16 below, respectively: Société Générale (or the Guarantor) Domicile: 29, boulevard Haussmann, Paris, France. Legal form: Public limited liability company (société anonyme). Legislation under which the Guarantor operates: Frch law. Country of incorporation: France.

27 country of incorporation B.19 / B.4b Known trds affecting the Guarantor and the industries in which it operates 2014 was another challging year for the economy, with global activity posting only moderate growth that varied by region. This trd is expected to carry over into 2015, which is shaping up to deliver a weaker-than-expected global economic recovery amid myriad uncertainties both on the geopolitical front and on the commodity and forex markets. The euro zone is struggling to return to more dynamic growth, thus slowing the reduction of public deficits. Interest rates should remain at record lows, but the deflationary risk should be kept under control by the intervtion of the ECB which has announced the implemtation of a more accommodative monetary policy and the use of its balance sheet to support growth. The depreciation of the euro and falling oil prices should help boost exports and stimulate domestic demand. The US economy should stay on a positive track and the Fed is expected to begin tighting its monetary policy mid-year. Emerging countries have tered a phase of more moderate growth, in particular China. Russia's economy is struggling with the consequces of the Ukrainian crisis coupled with the drop in commodity prices. From a regulatory standpoint, 2014 saw the implemtation of the Banking Union. The European Ctral Bank took the helm of the Single Supervisory Mechanism, overseeing some 10 euro zone banks, with the aim of strgthing the banking system, restoring the confidce of economic operators, harmonising banking supervision rules and reducing the link betwe banks and their national authorities. In terms of regulatory ratios, the Société Générale Group (the Group) can already meet the new requiremts. B.19 / B.5 Description of the Guarantor's group and the Guarantor's position within the group The Group offers a wide range of advisory services and tailored financial solutions to individual customers, large corporate and institutional investors. The Group relies on three complemtary core businesses: Frch Retail Banking; International Retail Banking, Financial Services and Insurance; and Corporate and Investmt Banking, Private Banking, Asset and Wealth Managemt and Securities Services. The Guarantor is the part company of the Group. B.19 / B.9 Figure of profit forecast or estimate of the Guarantor B.19 / B.10 Nature of any qualifications in the audit report on the historical financial Not applicable. The Guarantor does not make any figure of profit forecast or estimate. Not applicable. The audit report does not include any qualification.

28 information B.19 / B.12 Selected historical key financial information regarding the Guarantor Quarter (non audited) Year ded 2014 (audited, except as mtione d otherwise (*)) Quarter (non audited) (*) Year ded 201 (audited) (1) Results (in EUR M) Net Banking Income 1,222 2,561 11,556 22,4 Operating income,19 4,557 (*) 2,22 2,6 (*) Net income before non controlling interests 2,421 2,978 (*) 1,404 (*) 2,94 Net income 2,219 2,679 (*) 1, 248 2,044 (*) Frch Retail Banking 692 1,204 (*) 69 (*) 1,196 International Retail (*) (9) (*) 98 Banking & Financial Services Global Banking and 1,21 1,909 (*) 1, 01 1,206 Investor Solutions (*) Corporate Ctre (17) (804) (*) (41) (*) (1,41) Net cost of risk (1,7) (2,967) (1,419) (4,050) Cost/income ratio (2) 64.8% 68% (*) 66.2% 67.0% (*) ROE after tax () 9.1% 5.% 5.1% 4.1% Tier 1 Ratio 12.7% 12.6% 12.5% 11.8% Activity (in EUR bn) Total assets and liabilities 1,59.5 1,08.2 1, ,214.2 Customer loans Customer deposits Equity (in billions of euros) Group shareholders' equity Total consolidated equity Cash flow statemts (in billions of euros) Net inflow (outflow) in cash and cash equivalts ,255 (10,18) (1,148 ) (981) (1) Items relating to the results for 201 have be restated due to the implemtation of IFRS 10 & 11. (2) excluding the revaluation of own financial liabilities and DVA, PEL/CEL and 50% IFRIC 21. () Group ROE calculated excluding non-economic items, collective provision for litigation issues, PEL/CEL and adjusted for the effect of IFRIC 21. The adjustmt relating to IFRIC 21 corrects, for each quarter, 25% of the taxes borne in their tirety in H1 in respect of the financial year. ROE in absolute terms in H1 14: 5.1%, in Q2 14: 9.%. (*)Note that the data for the 2014 financial year have be restated, due to the implemtation on January 1 st, 2015 of the IFRIC 21 standard resulting in the publication of adjusted data for the previous financial year.

29 No material adverse change in the prospects of the Guarantor since the date of its last published audited financial statemts Significant changes in the Guarantor's financial or trading position subsequt to the period covered by the historical financial information B.19 / B.1 Rect evts particular to the Guarantor which are to a material extt relevant to the evaluation of the Guarantor's solvcy B.19 / B.14 Statemt as to whether the Guarantor is depdt upon other tities within the group B.19 / B.15 Description of the Guarantor's principal activities B.19 / B.16 To the extt known to the There has be no material adverse change in the prospects of the Guarantor since 1 December Not applicable. There has be no significant change in the Guarantor's financial or trading position since 0 June Not applicable. There have be no rect evts particular to the Guarantor which are to a material extt relevant to the evaluation of the Guarantor's solvcy. See Elemt B.19 / B.5 above for the Guarantor's description of the position within the Group. Société Générale is the ultimate holding company of the Group. However, Société Générale operates its own business; it does not act as a simple holding company vis-à-vis its subsidiaries. See Elemt B.19 / B.5 above. Not applicable. To its knowledge, Société Générale is not owned or controlled, directly or indirectly (under Frch law) by another tity.

30 Guarantor, whether the Guarantor is directly or indirectly owned or controlled and by whom, and description of the nature of such control

31 Section C Securities C.1 Type and the class of the securities being offered and/or admitted to trading, including any security idtification number The Warrants are linked to shares (Share Linked Warrants). Clearing System(s): Euroclear Swed AB Box 191, Stockholm, Swed ISIN code: See the Issue Specific Information Table below in respect of each Issue of Warrants Local code: See the Issue Specific Information Table below in respect of each Issue of Warrants

32 C.2 Currcy of the securities issue C.5 Description of any restrictions on the free transferability of the securities C.8 Rights attached to the securities, including ranking and limitations to those rights and procedures for the exercise of those rights. The Settlemt Currcy is SEK. Not applicable. There is no restriction on the free transferability of the Warrants, subject to selling and transfer restrictions which apply in certain jurisdictions (including, without limitation, the United States). Rights attached to the securities: Unless the Warrants are previously cancelled or otherwise expire early, the Warrants will title each holder of the Warrants (a Warrantholder) to receive a pottial return on the Warrants, the settlemt amount, which may be lower than, equal to or higher than the amount initially invested (see Elemt C.18). Where: - the Issuer fails to pay or to perform its other obligations under the Warrants; - the Guarantor fails to perform its obligations under the Guarantee or in the evt that the guarantee of the Guarantor stops being valid; or - of insolvcy or bankruptcy proceeding(s) affecting the Issuer, the holder of any Warrant may cause the Warrants to be cancelled immediately and for the paymt of an early termination settlemt amount to become due to the Warrantholder. The Warrantholders' const shall have to be obtained to amd the contractual terms of the Warrants (except where the amdmt is (i) to cure or correct any ambiguity or defective or inconsistt provision contained therein, or which is of a formal, minor or technical nature or (ii) not prejudicial to the interests of the Warrantholders or (iii) to correct a manifest error or prov error or (iv) to comply with mandatory provisions of the law) pursuant to the provisions of an agcy agreemt, made available to the Warrantholders upon request to the Issuer. Ranking Warrants will be direct, unconditional, unsecured and unsubordinated obligations of the Issuer and will rank pari passu without any preferce among themselves and (subject to such exceptions as from time to time exist under applicable law) at least pari passu with all other outstanding direct, unconditional, unsecured and unsubordinated obligations of the Issuer, prest and future. Limitations to rights attached to the securities: - in the case of adjustmts affecting the underlying instrumt(s), the Issuer may amd the terms and conditions or in the case of the occurrce of extraordinary evts affecting the underlying instrumt(s), the Issuer may substitute the underlying instrumt(s) by new underlying instrumt(s), monetise all or part of the due amounts until the expiration date of the Warrants, cancel or otherwise early expire the Warrants on the basis of the market value of these Warrants, or deduct from any due amount the increased cost of hedging, and in each case without the const of the Warrantholders;