NATIXIS - 2018 Registration document and annual financial report

1 PRESENTATION OF NATIXIS Natixis’ businesses

Natixis has a dedicated Shariah Board, which gives it a leading position in Islamic finance. In 2018, it issued an aircraft asset-backed Sukuk that allows Islamic investors to access dollar-denominated high-yield investments involving real assets. This deal is a first for Abu Dhabi Global Market (ADGM). Natixis’ other high-profile, high added-value transactions included arranging the biggest commercial loan ($950 million) in Asia-Pacific in 2018, for a portfolio of 41 aircraft for Vermillion Aviation Holdings Limited. The deal was named “Asia-Pacific Portfolio Financing Deal of the Year” by Airline Economics, which also awarded the title of “Asia-Pacific Overall Deal of the Year” to the $4 billion financing deal in favor of Macquarie. Real Estate & Hospitality Natixis has been a leading player in the Real Estate & Hospitality sector for 30 years. It has offices in Europe, the United States and Hong Kong, and covers all asset classes: residential, office, retail, logistics and hospitality (hotels, clinics, retirement homes, etc.). Natixis relies on its own M&A advisory team in Europe, in addition to the bank's network of affiliated consulting firms. Natixis stands out for the strength of its underwriting and distribution capabilities and is the only French bank with a Pfandbriefbank (Natixis Pfandbriefbank AG), which allows it to issue German-law mortgage bonds. In the United States, it is one of the main players in the CMBS market, ranked ninth as at December 31, 2018 (source: Commercial Mortgage Alert) . In 2018, Natixis continued its commitment to green and SRI finance. The €480 million loan it arranged to finance the development of the Duo towers in Paris was awarded Europe’s first green commercial real estate loan certification, the “Climate Bond Certified” label, from the Climate Bonds Initiative (“CBI”). The Curve project in Seine-Saint-Denis in the Paris region also received green certification for real estate lending in Europe, according to the LMA’s “Green Loan Principles”. In 2018, Natixis was ranked No. 1 MLA and bookrunner in France and Europe (source: Dealogic) , reflecting the vitality of its business and its positioning as a major arranger in the sector. 2018 saw the completion of a number of landmark transactions in France (€650 million in fully distributed financing for Foncière Vesta in the residential segment), Germany (financing of €335 million for the acquisition of an administrative complex in Frankfurt by Aroundtown and SOFA), Italy (total financing of €228 million for the healthcare sector) and Spain (acquisition of four shopping centers by Castellana Properties Socimi in the south of the country). Natixis Pfandbriefbank AG continued its development in 2018 and, in particular, issued €265 million in additional “Pfandbrief” bonds, bringing total issuance since the institution was established to €1.5 billion. In the United States, activity was extremely buoyant nationwide and across all asset types, with high-profile transactions such as €1.9 billion in financing for the renovation of 20 Times Square, the first newly constructed Times Square property for 30 years, or the $310 million financing of a tower of 685 luxury units in Los Angeles.

Distribution & Portfolio Management Distribution & Portfolio Management (DPM) develops optimal financing solutions for business and attractive investment opportunities for investors. The experienced team of 215 professionals is spread over our three international platforms: the America, EMEA and Asia-Pacific. It proactively manages the financing put in place by Natixis, in terms of credit quality and profitability. In 2018, Natixis continued to consolidate its O2D model, which is a central part of its strategy. The bank stands out for the strength of its distribution capabilities, enhanced by coordination between its three major international platforms. The Global Portfolio Management business lines, responsible for the active management of the loan portfolio, extended its scope to include syndication and was renamed Distribution & Portfolio Management (DPM). The syndication/distribution of corporate, acquisition and high yield financing for the four key sectors is now housed in a single department that reports to DPM and Global Markets. This restructuring supports the development of the sector-based approach in investment banking and strengthens the bank’s underwriting and distribution capabilities. Natixis also launched the digital platform “Singular”, the main purpose of which is to improve collaboration and visibility across the O2D chain and ultimately provide a better service for clients. These measures have helped accelerate balance-sheet rotation and have led to a sharp increase in business levels despite increased regulatory constraints and steeper competition. Risk Magazine named Natixis “Credit Portfolio Manager of the Year” for its innovative, integrated approach of its portfolio management, which is central to its strategy. Trade & Treasury Solutions In June 2018, Global Transaction Banking restructured its organization to become Trade & Treasury Solutions (TTS). This change is intended to offer clients more tailored, value-added solutions to capitalize on Natixis’ expertise. TTS is structured as two flagship businesses: Treasury Solutions and Trade Finance. In Treasury Management Solutions, TTS helps corporate clients manage, optimize and enhance their cash flow by providing them with a multi-bank, paperless centralized account statement service as well as automated multi-bank cash solutions. TTS delivers products that put their cash surpluses to work through interest-bearing accounts, including deposit accounts, securities accounts and market deposits. TTS also supports financial institutions at every stage of transaction processing (centralization of payments to and from Europe, optimization and simplification of international payment circuits). It complements these solutions with security arrangements to protect against the risk of fraud. In Trade Finance, TTS helps its clients' international development with its solutions for financing and securing their import and export operations (out of Dubai, Hong Kong, Moscow, New York, Paris, São Paulo, Shanghai and Singapore), and with its supply chain finance solutions for optimizing their cash flow and financing to their suppliers. The business is present in France and across the platforms in Asia-Pacific, the Americas and EMEA, and has strong banking risk coverage capabilities and a full range of market guarantees.

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Natixis Registration Document 2018