NATIXIS -2020 Universal Registration Document

RISK FACTORS, RISK MANAGEMENT AND PILLAR III Risk factors

Natixis is also exposed to the risk of cybercrime. Cybercrime covers a range of malicious and/or fraudulent acts, perpetrated digitally in an effort to manipulate data (personal, banking, insurance, technical or strategic data), processes and users, with the aim of causing material losses to companies, their employees, partners, clients and counterparties. A company’s data assets are exposed to complex and evolving threats likely to have material financial and reputational impacts on all companies, and in particular those in the banking sector. Given the increasingsophisticationof the criminal enterprises behind cyberattacks, regulatory and supervisory authorities have begun to highlight the importance of Information and Communication Technology (ICT) risk management. Preventing cybercrime risk is a priority for Natixis, which makes every effort to implement the guidelines established by these authorities through cooperation between its Information Systems (IS) and IT Systems Security (ITSS) Departments. This has resulted in a map of risks relating to IT SystemsSecurity, as well as a far-reachingcampaign to raise all employees’ awareness on IS security matters. In 2020, no cybercrime-related incident had a material adverse impact oNn atixis’ financial position or reputation. However, as cyberattacks are constantly evolving to become increasingly advanced, the measures described above may not be sufficient in the future to fully protect Natixis, its employees, partners and clients. The occurrence of such attacks could potentially disrupt Natixis’ client services, result in the alteration or disclosure of confidential data or lead to business interruptionsand, more broadly, have a material adverse effect on its business, financial position and reputation. For example, Natixis was marginally affected by the security breaches that critically affected certain products of the publisher Citrix in January 2020, by the unavailability of several services of the financial software company Finastra in France due to a ransomwareattack in March 2020and to the cyber-attack against the language services company Ubiqus in December 2020. Operational difficulties could also arise as a result of unforeseen or catastrophic events, such as terrorist attacks, natural disasters or a major health crisis. In 2020, Natixis demonstratedits resilience in the face of the COVID-19 pandemic and was able to cope with the successive phases of the crisis. Although minor incidents were noted, requiring the commitment of limited additional resources and resources to deal with this exceptional situation, all the players in charge of operational continuity management have collectively contributed, thanks to their expertise and responsiveness, to keep all business lines and support functions operational. Natixis’ resilience in the technological and logistical fields has made it possible to support the remote working system by maintaining the minimum number of teams on site that are essential to protecting employees, maintaining information systems and ensuring site security. Natixis cannot guarantee that interruptions, failures in its communication and information systems or third-party systems or that a breach of its information systems will not occur or, should they occur, that they will be immediately resolved with no impact on the bank. The occurrence of one or more of the events described above may result in lost business and other additional costs and losses for Natixis, or result in reputational damage.

Any damage to Natixis’ reputation could affect its competitive position and have a negative impact on its financial position Natixis’ reputation is pivotal to its ability to conduct its business. Thanks to Natixis’ current reputation, it is able to maintain relationships with its clients, employees, suppliers, partners and investors that are built on trust. The occurrence, whether once or repeatedly, of one or more of the risks identified in this section, a lack of transparency or communication errors could harm Natixis’ reputation. There is greater reputation risk today due to the growing use of social media across the economic sphere. Beyond the inherent negative impact, any damage to Natixis’ reputation could also result in lost business, and a drop in Natixis’ share price, both of which would weigh on its financial position. An example of this was H2O AM, Natixis’ Asset Management subsidiary, which was exposed to illiquidity risks affecting certain funds, leading to a sharp decline in Natixis’ share price. Strategic and business risks The ongoing COVID-19 pandemic could adversely affect Natixis’ business activity, operations and financial performance In December 2019,an epidemicof viral pneumoniaemerged in China which lead the World Health Organization (WHO) to officially announce on January 9, 2020 the discovery of a new coronavirus – the virus responsible for this new disease called COVID-19 (CoronaVIrus Disease). The virus subsequently spread to numerous countries around the world and was qualified as a pandemic by the WHO in March 2020. The consequences of pandemic and of the various measures taken by governments and central banks in numerous countries (closing borders, restriction of movement, lockdowns, etc.) were, and should continue to be, potentially detrimental to the global economy and financial markets, while there are still uncertainties as to how long the pandemic will last, the deploymentof vaccines and what effect the economicand monetary policies undertaken will have. The COVID-19 pandemic has been hugely disruptive for clients, suppliers and staff (production difficulties, disrupted supply chains, slowdown in investments, shocks to supply and demand, etc.), because of how it has brought economic activity to a near-standstill. The final impact on the global economyand financialmarketswill largely depend on the intensity of the pandemicand the effects of the decisionsmade by authorities to stimulate the economy and limit the spread of the virus. For example, the new lockdown measures recently announced by the various governmentauthoritiesare liable to affect not only social life but also working and manufacturing conditions, as well as the economic environment in general. The COVID-19 pandemic may have a materially unfavorable impact on Natixis’ business, its financial environment, operating results, outlook, capital and financial ratings (including possible changes to its outlook or ratings).

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2020

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