NATIXIS - 2018 Registration document and annual financial report

PRESENTATION OF NATIXIS History and links with BPCE

FINANCIAL SOLIDARITY 1.2.2 MECHANISM

jointly by the Banque Populaire and Caisse d’Epargne networks, and which is increased through an annual contribution (subject to the amounts which would be used in the event of a call for funds); (iii) if BPCE’s capital and this mutual guarantee fund should prove insufficient, BPCE would call on (in equal proportions) both the Banque Populaire and Caisse d’Epargne networks’ own guarantee funds of €900 million in total and; finally (iv) if calls on BPCE’s capital and these three guarantee funds should prove insufficient, additional sums would be requested from all Banques Populaires and Caisses d’Epargne. It should be noted that the guarantee funds referred to above consist of a Groupe BPCE internal guarantee mechanism activated at the initiative of the BPCE Executive Board or the French banking regulator, which may request that it be used if deemed necessary.

1

Pursuant to Article L.511-31 of the French Monetary and Financial Code (Code monétaire et financier), BPCE shall, as the central institution, take any measures necessary to guarantee the liquidity and solvency of Groupe BPCE. Natixis, in its capacity as an institution affiliated with BPCE, is covered by the Groupe BPCE financial solidarity mechanism. Thus, in the event Natixis encounters financial difficulty, (i) BPCE would firstly provide support using its own capital in accordance with its duty as a shareholder; (ii) should this prove insufficient, it would use the mutual guarantee fund created by BPCE, which at December 31, 2018 totaled €362.6 million in assets provided

BPCE ORGANIZATION CHART 1.2.3

At December 31, 2018, BPCE held 70.70% of the share capital of Natixis (70.78% of voting rights) (see Section 1.2.2 Financial solidarity mechanism) . The structure of Groupe BPCE at December 31, 2018 was as follows:

GROUPE BPCE

9 MILLION COOPERATIVE SHAREHOLDERS

100%

100 % (1)

BANQUES POPULAIRES

CAISSES D’EPARGNE

50% 50%

BPCE CENTRAL INSTITUTION

71%

NATIXIS

29%

Free float

Indirectly through Local Savings Companies (1)

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Natixis Registration Document 2018