NATIXIS - 2018 Registration document and annual financial report

FINANCIAL DATA Consolidated financial statements and notes

The data for EIG established at December 31, 2018 and December 31, 2017 comply with IFRS as adopted by the European Union on that date and with the accounting principles and valuation methods applied to Natixis’ consolidated financial statements as presented in Note 6. See below the financial information reconciliation table with the carrying amount calculated using the equity method.

EDF Investment group (EIG) 31/12/2018

31/12/2017

(in millions of euros)

Equity of the associate Percentage of ownership

8,548 6.11%

8,526 6.11%

Natixis’ share in the equity of the associate

521

521

Goodwill

- -

- -

Other

Value of the investment in the associate

521

521

4.4.3

4.4.4

Nature and scope of restrictions

Risks associated with interests in joint

ventures and associates held by entities There are no unrecognized shares in the losses of joint ventures or associates over the period following the application of the equity method.

Natixis did not encounter significant restrictions on interests held in associates and joint ventures.

5

STRUCTURED ENTITIES

NOTE 5

A structured entity is an entity that has been designed so that voting or similar rights are not the dominant factor in deciding who controls the entity, such as when any voting rights relate to administrative tasks only and the relevant activities are managed by means of contractual agreements. Structured entities generally have one or more of the following characteristics: restricted and narrowly-defined activities and objectives; a limited or non-existent equity that is insufficient to allow it to a finance its activities without subordinated financial support; financing in the form of multiple contractually linked a instruments that create concentrations of credit or other risks (tranches); few or no employees. a

variable returns associated with the performance of another entity. Interests in other entities may be evidenced by, among other things, ownership of equity instruments or debt securities, as well as by other links, such as financing, cash loans, credit enhancement and the issuing of guarantees or structured derivatives. Consequently, the following are not included in the consolidation scope (IFRS 10) or in the scope applicable to the disclosure of additional information (IFRS 12): structured entities linked to Natixis solely through an ongoing a transaction. This corresponds to an unstructured financial instrument which does not generally have a material impact on the variability of the structured entity’s returns and which may be concluded by Natixis with structured entities or with traditionally-governed entities alike. Ongoing transactions are most commonly: vanilla fixed-income/currency derivatives, derivatives with j other underlying assets, the lending/borrowing of securities and repos, guarantees and plain vanilla financing granted to family SCIs j or certain holding companies; external structured entities for which Natixis acts simply as an a investor. This mainly includes: investments in external mutual funds not managed by j Natixis, with the exception of those in which Natixis owns virtually all the units, interests held in external securitization vehicles for which j Natixis acts simply as a minority investor (exposure to these funds is included in the information disclosed regarding exposures as recommended by the Financial Stability Forum (FSF)),

Scope of the structured entities 5.1 with which Natixis has dealings General principles 5.1.1

In accordance with IFRS 12, Natixis discloses information for all the structured entities in which it holds interests and for which it acts in one or more of the following roles: originator/structurer/arranger; a placement agent; a manager of relevant activities; a or any other role in which it has a decisive impact on the a structuring or management of the transaction. Interest in an entity is understood to mean a contractual or non-contractual relationship that exposes the entity to the risk of

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Natixis Registration Document 2018