BPCE - 2020 Universal Registration Document

ACTIVITIES AND FINANCIAL INFORMATIONS 2020

SIGNIFICANT EVENTS OF 2020

In order to secure a sustainable growth trajectory and establish a solid foundation for preparing its next strategic plan for 2024, Natixis adopted three major strategic orientations in early November 2020: put its Asset Management business on track for vibrant • growth and development: to this end, Natixis Investment Managers announced the operational implementation of the merger between Ostrum AM and La Banque Postale AM, and initiated discussions with a view to a gradual and orderly unwinding of its partnership with H2O AM; reduce the volatility of revenues from the Corporate & • Investment Banking business: Natixis has decided to reposition its equity derivatives business by discontinuing its most complex product lines and refocusing on its strategic clients and those of the Groupe BPCE networks; strengthen its earning power and promote dynamic cost • management, notably to support future investments. With these goals in mind, Natixis announced the launch of a program to cut costs by around €350 million by 2024. In February 2021, Natixis also finalized the sale of 29.5% of Coface’s share capital to Arch Capital Group, a leading specialty insurer in the United States. This followed the lifting of all conditions precedent (specifically, obtaining the approval of regulators in the countries in which Coface operates). In Asset & Wealth Management, the merger of Ostrum Asset Managementand La Banque Postale Asset Management’sfixed income and insurance activities was completed, creating a European leader in asset management for large institutional clients, with more than €415 billion in assets under management. As a result of this transaction, Natixis Investment Managers now ranks second among European asset managers with more than €1.1 trillion in assets under management.DNCA Finance and Thematics Asset Management’s equity management were strengthened through the repositioning of equity expertise from Ostrum AM. Investment management firm Loomis, Sayles & Company also announced that it has recruited a European credit team based in the Netherlands and launched three euro credit investment strategies: Loomis Sayles Euro Investment Grade Credit, Loomis Sayles Euro Sustainable Investment Grade Credit and Loomis Sayles Euro High Yield. Finally, Natixis Investment Managers continued to develop its ESG (Environmental, Social and Governance) policy within its multi-affiliatemodel as well as its initiatives to support diversity and inclusion, one of its strategic priorities. In wealth management, Natixis Wealth Management optimized its cross-functional operating structure across all of its business lines and entities in France and Luxembourg. Its subsidiary, VEGA Investment Managers, strengthened its ESG commitments by launching its first impact fund, “VEGA Transformation Responsable.” Natixis Interépargne, the benchmark in employee savings and retirement plans, and Arial CNP Assurances combined their expertise to offer companies a comprehensive range of employee savings and retirement plans incorporating the new company retirement savings plans (PER) created by the Pacte law. Natixis Interépargne was also the first employee savings firm in France to offer savers a company savings account aggregator.

The Corporate & Investment Banking business has remained very close to its clients during the Covid-19 crisis. Its teams’ dedication meant it was able to respond quickly to its clients’ needs. It stepped up its advisory role and made all its sector expertise and its economic research teams available to its clients to help them understandthe situation and plan for the future. To meet its clients’ liquidity requirements,Natixis offered a range of financing solutions, some of which were made available under governmentsupport packages, for example the State-guaranteed loan in France, for a total of €2.7 billion in 2020. Natixis Assurances pledged its support to help craft workers, retailers, self-employedprofessionalsand very small enterprises face the coronaviruscrisis. It is committed to helping customers in the hotel and catering sector deal with their operating losses. Natixis Assurances also continued to implement its business plan with the goal of becoming the sole insurance platform serving the Banque Populaire and Caisse d’Epargnenetworks. In personal protection insurance, it launched new policies for individual customers of the Caisses d’Epargne ( Secur’Famille 2) and new individual insurance policies for professional customers of the Banques Populaires and the Caisses d’Epargne. Meanwhile, Natixis Life pushed ahead with its transformation project: digital subscription pathways with electronic signatures are being rolled out across the company, along with a workflow tool facilitating the processing and monitoringof files. In non-life insurance, the emblematic#innove2020 projectwas extended to all establishments and is off to a very promising start, notably bringing strong sales momentum. Finally, Natixis Assurances was awarded new labels of excellence for “Quintessa,”“Assur BP Santé,” “Garantie Santé Côté Je,” “Assur BP Auto,” and “AssuranceAuto,” as well as the “ Sécur’Famille 2,” “Assurance Famille,” and “ Autonomis” policies. The Payments business played an important role during the pandemic. From the start of the crisis, Natixis Payments undertook to guarantee the Banque Populaire and Caisse d’Epargne networks and their customers the highest possible service quality in all areas (issuance, acquisition, payment processing, and fraud prevention). The Payments division also helped support the change in consumer purchasing and payment behavior. Its experts were mobilized to implement the new ceiling for contactless payment, which was raised to €50 as of May 11, and the increase in the ceiling for meal vouchers in June. Natixis Payments has also supported merchants of all sizes in developing their online sales, thanks to its fintech Dalenys’ omnichannel platforms for large merchants and its fintech PayPlug, designed for SMEs, either directly or in synergy with the Banque Populaire and Caisse d’Epargne networks. Groupe BPCEcontinued efforts to firmly embed its commitment to society and the environment into its businesses and decision-makingprocesses. For example, it launched “Ambition Durable,” a green bond aimed at individual customers of the Banques Populaires and the Caisses d’Epargne. The funds raised are being used to finance the constructionand renovation of buildings with a small environmental footprint. In the area of retirement planning, Banque Populaire and Caisse d’Epargne distributed a new Individual Retirement Savings Plan range created by Natixis Assurances, enabling customers to build up retirement savings with a positive social and environmental impact. Comprehensive, accessible to all, and competitively priced, it meets the needs of customers wanting to prepare for retirement in a more responsible manner.

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UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE