NATIXIS - 2018 Registration document and annual financial report

4 OVERVIEW OF THE FISCAL YEAR Management report at December 31, 2018

Specialized Financial Services 4.2.2.4

2018

2017 pro forma

Change +6.5% +3.7% +1.0% +2.6% +9.8% (0.1)% +19.2% +2.3% +3.9% +0.6% +15.9% +6.9% +5.6% (68.1)% +20.2%

(in millions of euros)

Net revenues

1,472

1,382

Specialized Financing

894 160 205 237 265

862 158 200 216 265

Factoring

Sureties & Financial Guarantees

Leasing

Consumer Finance

Film Industry Financing

27

23

Financial Services

188

184

Employee savings plans

95 93

91 93

Securities services

Payments

389

336

Expenses

(1,004)

(939)

Gross operating income Provision for credit losses

468 (23) 445

443 (73) 371

Pre-tax profit

Cost/income ratio

68.2% 2,133 14.0%

67.9% 1,929 13.0%

Shareholders' equity (average)

ROE

BREAKDOWN OF 2018 SFS NET REVENUES ■ BY BUSINESS LINE

Specialized Financing posted solid momentum overall. Factoring generated €60.8 billion in factoring revenues in France, up 11%, with Natixis Factor boasting market share of 18.8% at September 30, 2018. Leasing developed its business with the Banque Populaire and Caisse d’Epargne networks. New business, half of which was in equipment leasing, jumped 12% year-on-year. Consumer Finance achieved record sales with more than €12 billion in financing, up 7% over the year, 11% of which was for revolving loans and 6% for personal loans. After two outstanding years, Sureties and Guarantees maintained strong business volumes on the loan guarantee market for retail customers despite a decrease in refinancing volumes. The Financial Services business remained strong. At €27.5 billion, AuM for employee savings plans continued to increase with annual growth of 6%. Securities Services continued to expand its range of services for the networks.

6.3% Securities

10.8% Factoring

26.5% Payments

13.9% Sureties & Financial Guarantees

16.1% Leasing

6.4% Employees Savings Schemes

1.8% Film Industry Financing

18.1% Consumer Finance

Net revenues totaled €1,472 million in 2018, up 6%. Specialized Financing revenues picked up by 4%. Leasing posted 10% net revenue growth. Net revenues for Sureties & Financial Guarantees and Factoring gained 3% and 1% respectively year-on-year. Lastly, net revenues for Film Industry Financing increased sharply over the period after the inclusion of a special dividend.

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Natixis Registration Document 2018