NATIXIS - 2018 Registration document and annual financial report

1 PRESENTATION OF NATIXIS Natixis’ businesses

Mergers & Acquisitions 1.3.2.4 Natixis’ mergers and acquisitions (M&A) teams help large and medium-sized commercial and industrial enterprises, institutional investors and investment funds prepare and execute disposals and mergers, fundraising, restructuring and capital protection. In 2018, Natixis made strategic investments in three independent M&A consulting firms that are leaders in their respective market segments: Fenchurch Advisory Partners in the UK (Financial Services), Vermilion Partners in China, and Clipperton in France (technology sectors). These new investments are helping Natixis to speed up its business internationalization efforts, while furthering its expansion in Europe and Asia-Pacific. Natixis and its six affiliates (Natixis Partners, Natixis Partners Spain, PJ SOLOMON, Vermilion Partners, Fenchurch Advisory Partners and Clipperton) are currently present across 12 locations: Berlin, Hong Kong, Houston, London, Madrid, Milan, Munich, New York, Paris, Beijing, Shanghai and Shenzhen. In France, Natixis is a major player in mergers and acquisitions. Private Equity Magazine named Natixis Partners “Advisor of the year—M&A Large Cap” in 2018. Natixis and its affiliate Natixis Partners ranked fifth by number of deals as at December 31, 2018 (source: Mergermarket) . Internationally, Natixis strengthened its franchise across all three platforms: EMEA, the Americas and Asia-Pacific. By encouraging cooperation among the teams of its various offices, the bank is expanding support for French clients’ international operations and assisting international investors wishing to establish themselves on the markets covered by Natixis. In 2018, Natixis and Natixis Partners also advised the Chinese consortium comprising Fosun International Limited (“Fosun”) and Beijing Sanyuan Foods Co., Ltd. (“Sanyuan”) on the acquisition of a 100% stake in Group St Hubert. In the US, PJ SOLOMON assisted the Yves Rocher group in its acquisition of Arbonne International. Natixis also acted as Sole Underwriter and MLA/Bookrunner of the acquisition debt. It also carried out the currency hedging and part of the interest rate hedging. As part of its strategy to concentrate its energies on strategic sectors (see Section 1.3.2.2) , Natixis and its affiliates have deployed dedicated M&A teams to deliver optimum solutions to clients in these sectors. Natixis’ M&A expertise in telecoms infrastructure was honored at the TMT M&A award ceremony in London in November 2018. The “TMT Infrastructure Deal of the Year 2018—EMEA” award was given to the Ufinet Telecom asset sale for a total of €2 billion, in which Natixis Partners was M&A advisor. The deal involved the acquisition by Antin Infrastructure Partners of Ufinet Telecom’s Spanish activities and the acquisition by Sixth Cinven Fund of Ufinet Telecom’s assets in Latin America. Natixis Partners Spain acted as financial advisor for Cinven and Natixis co-arranged the acquisition financing for both deals.

Equity Capital Markets On the Equity Capital Markets (ECM), Natixis provides clients with tailored advisory services for all transactions that affect their capital structure: IPOs, capital increases and convertible or exchangeable bond issues. Natixis is also developing advisory services for public tenders or exchange offers. It also maintains a Corporate Broking business that offers clients intermediation services for acquisitions and disposals on the equity market, share buybacks and liquidity contracts. In 2018, in a period of market volatility, Natixis/ODDO-BHF was ranked No. 1 (first equal) on the IPO market in France by number of deals and by volume as at December 31, 2018 (source: Bloomberg) . Natixis also acted as global coordinator and joint bookrunner in the IPOs of 2CRSI, which specializes in the design and manufacture of computer servers, and Neoen, one of the biggest producers of exclusively renewable energy in the world. The Neoen deal was the biggest IPO on Euronext Paris in 2018 and among the 10 largest transactions in Europe. In Corporate Broking, Natixis consolidated its franchise thanks to very buoyant activity (up 14% compared with 2017) that included some of the biggest share buybacks in the market (Total, Sanofi, Safran, etc.). The partnership entered into with ODDO-BHF in 2018 has allowed Natixis to strengthen its position on the equity capital markets and, in particular, to increase its capacity to deliver liquidity contracts to its clients (Natixis/ODDO-BHF is the leader in this activity on the Euronext Paris markets, with 99 liquidity contracts managed as at December 31, 2018— source: AMAFI ). Natixis/ODDO-BHF was also ranked No. 2 bookrunner in the French equity market by number of deals and by volume as at December 31, 2018 (excluding ABB) (source: Bloomberg) . Equity-linked finance The Strategic Equity Transaction team, which specializes in equity-linked finance, designs solutions to help clients manage their equity positions. These transactions use financing tools, derivatives and other financial instruments, which serve Natixis’ large European and international corporate clients and aim to cover their equity-related needs in equity interests, company-controlled stock and dilution/accretion. Financial structure and rating advisory services This advisory business activity focuses on the analysis of financial structures and credit rating issues for Natixis’ corporate and financial institution clients. It aims to define the most appropriate equity and debt-based financing solutions for its clients. The internationalization and increasing disintermediation of the Capital Markets have increased clients’ reliance on ratings, giving this business line increasing strategic importance. The rating advisory expertise is applied to analyze and optimize the impact of major events on clients’ ratings, and even extends to assisting clients with obtaining their first rating.

Miscellaneous: Other run-off 1.3.2.5 activities

In 2008, Natixis established the GAPC division structure (Gestion Active des Portefeuilles Cantonnés—Workout Portfolio Management) in order to (i) isolate the assets that were most impacted by the crisis and that were no longer deemed to fit the new strategic direction of Natixis, and (ii) progressively offload these assets by means of active management, ensuring the proper balance between speeding up the return of capital and the resale price of the assets.

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Natixis Registration Document 2018