ANNUAL REPORT 2020

Caisse DesjardinsThérèse-De Blainville

Head office201, boulevard LabelleSainte-Thérèse (Québec) J7E 2X6450 430-6550

CAISSE DESJARDINS THÉRÈSE-DE BLAINVILLE

Note to readers

This annual report provides an overview of Caisse Desjardins Thérèse-De Blainville's key financial data as atDecember 31, 2020.

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.

Louise Filion, ChairPierre Simonet, Secretary

About Caisse Desjardins Thérèse-De Blainville:

52,191 members

$168,521 given back through our CommunityDevelopment Fund

A dynamic team of managers and employees under thegeneral management of Joé Bélanger

Dedicated directors

Louise Filion Chair

Donald Bergeron Vice-Chair

Pierre Simonet Secretary

Ginette Auger Director

Rodrigue Dubois Director

Bernard Duchesne Director

Guillaume Duchesne Director

Benoît Fortier Director

Brigitte Galarneau Director

Yves Guindon Director

Mireille Langlois Director

Michelle Lapointe Director

Audray Rivet Director

Jacques Roberge Director

Desjardins Group highlights

Surplus earnings before member dividendsdown $179 million compared to 2019, for atotal of $2,419 million, including:

$1,314 million from Personal and BusinessServices

$609 million from Wealth Management andLife and Health Insurance

$622 million from Property and CasualtyInsurance

Provision for credit losses up $498 millioncompared to 2019, mainly due to thesignificant deterioration in the economicoutlook and the anticipated effects on creditquality as a result of the COVID-19 pandemic

$211.7 billion in outstanding loans andacceptances (+4.1%)

$77.5 billion in assets under management(+14.7%)

8.4% return on equity, compared to 8.9% in2019

Total assets grew by 15.7% in 2020 to reach$362 billion

Operating income of $18,399 million, up 2.7%compared to 2019

$445 million given back to members and thecommunity

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CAISSE DESJARDINS THÉRÈSE-DE BLAINVILLE

Caisse Financials

Assets of $1,748,401K, up 16,0%

Liabilities of $1,586,277K, an increase of 16,6%

Equity of $162,124K, up 10,8%

Capital stock: $1,384K

Distributable surplus earnings: $10,821K

Accumulated other comprehensiveincome: $2,384K

Reserves: $147,535K

Stabilization reserve: $3,977K

Reserve for future memberdividends: $10,488K

Community Development Fund: $1,123K

Operating surplus earnings of $12,982K, up 5,4%

Interest income totalling $41,185K, a decreaseof 1,7%

Interest expenses of $12,170K, down 19,2%

Other income totalling $11,439K, down 4,1%

Non-interest expenses of $25,513K, a decreaseof 2,8%

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 restrictedprofessional conduct. Loans granted to restricted

parties totalled parties totalled $1,569K.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, 2020($)

Averagereturn

(%)

Société de Services descaisses Desjardins (SER) (520) 0,0

Desjardins CapitalManagement (INV) 126,620 21,8

Desjardins FinancialHolding (FIN5A) 48,106,614 10,4

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 THÉRÈSE-DE BLAINVILLE

Summary of the loan portfolio

As at December 31, 2020, the quality of the caisse's loan portfolio remained high. Gross impaired loans represent just 0,1% 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 2020 Total 2019

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 1,064,188 518 174,834 754 791 34 1,239,813 1,306 1,238,507 1,132,042Consumer and otherpersonal loans 36,370 64 3,168 121 25 21 39,563 206 39,357 40,377

Business and government 104,778 267 57,005 467 690 276 162,473 1,010 161,463 135,929

Total 1,205,336 849 235,007 1,342 1,506 331 1,441,849 2,522 1,439,327 1,308,348

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, 2020, the caisse's member deposits totalled $1,497,324K, up $283,146K, or 23,3%, year over year. Deposits by individuals provide the main source of fundingfor the caisse's expansion. These deposits represent 78.3% of total deposits as at December 31, 2020. 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 2020 Total 2019

Individuals 620,335 53,641 497,908 1,171,884 1,000,904

Business and government 291,055 3,160 31,225 325,440 213,274

Total 911,390 56,801 529,133 1,497,324 1,214,178

*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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