NATIXIS - 2018 Registration document and annual financial report

FINANCIAL DATA Consolidated financial statements and notes

Currency conversion of the statements 3.9 of foreign subsidiaries and branches Natixis’ consolidated financial statements are prepared in euros. The balance sheets of foreign subsidiaries and branches whose functional currency is not the euro are translated into euros at the closing exchange rate, except for share capital, reserves and capital allocations, which are translated at the historical exchange rate. The income statements of foreign subsidiaries and branches whose functional currency is not the euro are translated at the average exchange rate for the year. Any resulting translation gains or losses arising regarding both balance sheet and income statement items are recognized in equity under “Translation adjustments” for the portion

attributable to the Group and “Minority interests” for the portion attributable to third parties. In the event of the total or partial disposal of an entity or the capital repayment of an entity, translation gains or losses are reclassified as income in proportion to the cumulative amount of the exchange differences recognized in recyclable other comprehensive income under “Translation adjustments”. Natixis elected to use the option available under IFRS 1 on first-time adoption, namely to transfer the cumulative balance of the translation adjustments existing at January 1, 2004 to consolidated reserves. If a foreign entity is subsequently sold, the gain or loss on the disposal will include only those translation gains or losses arising after January 1, 2004.

CONSOLIDATION SCOPE

NOTE 4

5

Key events 4.1 Natixis completed the acquisition of Fenchurch Advisory Partners (“Fenchurch”), a specialist corporate finance advisory firm exclusively focused on the Financial Services sector. Natixis owns 51% of the capital of Fenchurch, exercises control over it within the meaning of IFRS 10, and fully consolidates this entity. This transaction generated goodwill of €36.6 million as at December 31, 2018, as determined using the partial goodwill method. Now that the transaction has been completed, Natixis holds put options on minority interests in the amount of €27.9 million. Natixis also completed the acquisition of the Vermilion Partners group, a specialist in cross-border transactions involving China and in advising on both inbound and outbound M&A transactions. Natixis holds a 51% stake in Vermilion partners. Natixis exercises control over this group within the meaning of IFRS 10 and fully consolidates it. This transaction generated goodwill of €10.8 million as at December 31, 2018, as determined using the partial goodwill method. Now that the transaction has been completed, Natixis holds put options on minority interests valued at €14.6 million. Furthermore, Natixis completed the acquisition of Alter CE (Comiteo), a company specializing in online services for works councils. Natixis holds a 70% stake in Alter CE, exercises control over it within the meaning of IFRS 10, and fully consolidates this entity. This transaction generated goodwill of €20.1 million as at December 31, 2018, as determined using the partial goodwill method. Natixis also holds put options on minority interests in the amount of €8.7 million. Lastly, Natixis completed the acquisition of MV Crédit, a European credit specialist focused on private debt. MV Credit became a new affiliate of Natixis Investment Managers, providing investors with access to a wide range of expertise in Private Equity, private debt, real estate and infrastructure. Natixis owns 100% of the capital of MV Crédit, exercises control over it within the meaning of IFRS 10, and fully consolidates this entity. This transaction generated goodwill of €122.7 million as at December 31, 2018.

Changes in consolidation scope since 4.2 January 1, 2018 The main changes in scope since January 1, 2018 are as follows:

4.2.1

Corporate & Investment Banking

Newly consolidated entities Consolidation in the second quarter of 2018 of Natixis a Alternative Holding Limited following the acquisition by the latter of Fenchurch Partners LLP, an advisory firm specializing in mergers and acquisitions, itself fully consolidated; Consolidation in the second quarter of 2018 of Investima 77 a following the acquisition by the latter of Vermilion Partners, an advisory firm specializing in mergers and acquisitions. Full consolidation of the following five entities: Vermilion Partners (Holdings) Limited, Vermilion Partners Limited, Vermilion Partners (UK) Limited, Vermilion Partners LLP and Vermilion (Beijing) Advisory Company Limited; Creation on April 3, 2018 and consolidation of the securitization a Deconsolidation of Nexgen Capital Ltd as of January 1, 2018 as a the percentage interest fell below eligible levels (see Note 3.1) ; Liquidation of Natixis Luxembourg Investissements in the a second quarter of 2018. Changes in percentage of ownership In the second quarter of 2018, the interest in Natixis Partners a increased from 84% to 87% following the buying back of shares from executive officers. vehicle Eole Collateral. Deconsolidated entities Newly consolidated entities Consolidation in the first quarter of 2018 of the Mirova Global a Sustainable Equity Fund following the exceeding of the consolidation thresholds (see 3.1 consolidation scope) ; Acquisition by Natixis Investment Managers in the third quarter a of 2018 of the MV Credit group, an asset manager specializing in European private debt. Full consolidation of the following four entities: MV Credit France, MV Credit Limited, MV Credit LLP and MV Credit SARL; Consolidation in the third quarter of 2018 of the Ostrum Multi a Asset Global Income Fund following the exceeding of the consolidation thresholds (see Note 3.1) . Asset & Wealth Management 4.2.2

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Natixis Registration Document 2018