ANNUAL REPORT 2020

Caisse Desjardins deVaudreuil-Soulanges

Head office100, boul. Don-QuichotteL'Île-Perrot (Québec) J7V 6L7450 455-7907

CAISSE DESJARDINS DE VAUDREUIL-SOULANGES

Note to readers

This annual report provides an overview of Caisse Desjardins de Vaudreuil-Soulanges'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.

Pauline Thauvette Leroux, ChairCharles Huneault, Secretary

About Caisse Desjardins de Vaudreuil-Soulanges:

56,947 members

$279,265 given back through our CommunityDevelopment Fund

A dynamic team of managers and employees under thegeneral management of Gilles Brassard

Dedicated directors

Pauline Thauvette Leroux Chair

Hélène Therrien First Vice-Chair

François Paquin Second Vice-Chair

Charles Huneault Secretary

Nathalie Brière Director

Josée Charette Director

André Gendron Director

Steven Grenier Director

Elaine Lefebvre Director

Benoit Levesque Director

Patrick Madore Director

Mihaela Minciunescu Director

Isabelle Poirier Director

Chantal Quesnel Director

Marie-Jacinthe 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 DE VAUDREUIL-SOULANGES

Caisse Financials

Assets of $2,189,914K, up 7,6%

Liabilities of $1,979,997K, an increase of 7,2%

Equity of $209,917K, up 11,4%

Capital stock: $1,434K

Distributable surplus earnings: $15,077K

Accumulated other comprehensiveincome: $3,203K

Reserves: $190,203K

Stabilization reserve: $2,481K

Reserve for future memberdividends: $12,644K

Community Development Fund: $1,305K

Operating surplus earnings of $18,308K, up 10,5%

Interest income totalling $56,217K, a decreaseof 7,0%

Interest expenses of $16,634K, down 32,5%

Other income totalling $13,535K, down 2,7%

Non-interest expenses of $31,797K, a decreaseof 2,2%

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 $1,621K.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) (693) 0,0

Desjardins CapitalManagement (INV) 171,209 21,8

Desjardins FinancialHolding (FIN5A) 64,696,232 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 DE VAUDREUIL-SOULANGES

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 0,5% 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 1,180,358 671 223,333 986 4,103 278 1,407,794 1,935 1,405,859 1,308,277Consumer and otherpersonal loans 38,041 77 4,503 167 16 9 42,560 253 42,307 43,201

Business and government 334,086 354 93,898 911 4,791 741 432,775 2,006 430,769 433,113

Total 1,552,485 1,102 321,734 2,064 8,910 1,028 1,883,129 4,194 1,878,935 1,784,591

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 $1,718,926K, up $269,430K, or 18,6%, year over year. Deposits by individuals provide the main source of fundingfor the caisse's expansion. These deposits represent 72.9% 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 654,208 59,189 539,936 1,253,333 1,077,924

Business and government 440,856 4,981 19,756 465,593 371,572

Total 1,095,064 64,170 559,692 1,718,926 1,449,496

*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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