NATIXIS - 2018 Registration document and annual financial report

PRESENTATION OF NATIXIS Natixis’ businesses

Non-life insurance Non-life insurance revenues continued to show growth: premium income from property and casualty insurance totaled €1,482 million, up 7%. Growth was driven by auto (+9%) and multi-risk home insurance (+7%). The contract portfolio grew by more than 5% in 2018, totaling 5.8 million policies. This result reflects strong sales performances in both networks.

adapting subscription processes to incorporate new digital a tools and customer behaviors. A significant share of non-life subscriptions is already carried out and formalized remotely using an electronic signature. Steps have been taken to preempt rapid development in these approaches; continuing to scale down administrative management activities a in favor of in-branch transactions using applications installed on work stations and customer-initiated transactions through the self-care options gradually being rolled out for the majority of products and management operations; continuing to adapt information systems with the aim of a improving operational efficiency and service quality. For example, the changeover from BPCE Vie’s “Life Insurance Savings” management information system, finalized in 2012, was followed in 2016 by changes to BPCE Assurances’ management information system for property and casualty insurance. The process of transforming and digitizing BPCE Assurance's claims management IT system (Purple#Care project), which launched in 2017, was successfully rolled out in Two-Wheeler (2 Roues) and Four-Wheeler (4 Roues) insurance in June and December 2018. Finally, plans to modernize Natixis Life’s IT system, with a view to speeding up growth in the business line, increasing profitability and operating performance through process digitization and automation, and improving risk control, were put into action in 2018; outsourcing low-value-added operations to address variations a in business activity or to process specific operations for which adequate in-house skills or expertise is not immediately available; implementing a single operating model for non-life insurance a across all Groupe BPCE networks. The #Popt’Timiz project to pool Banques Populaires's and Caisse d’Epargne's Middle Office and Back Office activities took concrete form in November 2018, with the roll-out of the APS platform across three Banques Populaires banks. The #INNOVE2020 program, in which BPCE Assurance is to become the sole non-life insurance platform for Banques Populaires and Caisse d’Epargne retail customers by 2020, was launched in 2018. Natixis Assurances’ strategy for these two business lines is therefore to develop a sustainable level of business activity, by maintaining the right balance between price competitiveness and the preservation of fundamental technical parameters. Personal insurance Total revenue from direct sales climbed 1.3% relative to 2017, to €10.5 billion, driven by the Caisse d’Epargne network, strong momentum in personal protection insurance, and healthy trends in payment protection insurance. Assets under management were up 9.8% to €60.1 billion. Revenue from the personal protection insurance and payment protection insurance businesses totaled €886 million in 2018, up 8% compared to the previous year.

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SPECIALIZED FINANCIAL SERVICES 1.3.4

Specialized Financial Services at Natixis comprises two major business categories: Specialized Financing and Financial Services, with similar industry and distribution strategies. These businesses are dedicated to the development of the BPCE networks (the Banque Populaire and Caisse d’Epargne banks, among others), thus building strong synergies. Specialized Financing offers retail, professional and corporate customers a range of services to optimize their cash management or support their investment projects: Factoring, Sureties & Financial Guarantees, Leasing, Consumer Finance, and film and audiovisual financing. Financial Services comprise employee savings (profit-sharing and incentive plans), pension schemes (individual and collective pension plans, etc.), collective personal protection insurance, securities account administration and financial market transactions (retail and Private Banking custody) and service vouchers. In line with Groupe BPCE’s “Together” and “Growing Differently” projects, the 2018-2020 plan maintained its goal of further increasing synergies with the Banque Populaire and Caisse d’Epargne networks. It is supplemented by the strong ambition to pursue an innovation and digitalization strategy to make the businesses 100% digital by 2020. As a reminder, in a press release on September 12, 2018, Natixis announced plans to sell its retail banking business to BPCE S.A. (Factoring, Sureties and Guarantees, Leasing, Consumer finance, securities). The Natixis Factor subsidiary creates and manages solutions designed to enable companies of all sizes to optimize and manage their accounts receivable: factoring and financing, credit insurance, information and receivables management. In 2018, Natixis Factor posted annual factored turnover of nearly €59 billion, up 11%, and had a market share of close to 19% (source: ASF, September 30, 2018) . With nearly 2,400 new contracts signed this year, Natixis Factor affirmed its leading position and consolidated its historical development strategy: to support companies, from professionals to major corporate clients. Its client satisfaction rate was 89% at the end of 2018. ProZen, a simple, à la carte, commitment-free way for professionals to access factoring, was launched in 2018 to meet changing customer expectations in an increasingly digital world. Specialized financing 1.3.4.1 Factoring

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Natixis Registration Document 2018