Let I and J be two sets, (Mα)α∈I and (Nβ)β∈J two families of A-modules; the homomorphism
ExtAα∈I⨁Mα,β∈J∏Nβ⟶β∈J,α∈I∏ExtA(Mα,Nβ)
induced by the canonical homomorphisms Mα→⨁α∈IMα and ∏β∈JNβ→Nβ is bijective.
It suffices to prove that for every A-module M (resp. N), the homomorphisms
Ext(M,β∏Nβ)→β∏Ext(M,Nβ)
(resp. Ext(⨁Mα,N)→∏αExt(Mα,N)) are bijective. This follows from what has already been shown, from Proposition 1 of X, p. 28, and the canonical isomorphisms HomgrA(L(M),∏Nβ)→∏HomgrA(L(M),Nβ) and HomgrA(⨁Mα,I(N))→∏HomgrA(Mα,I(N)).
Bourbaki puts the proof directly after the statement, so what is above is the statement and its proof together.