NATIXIS -2020 Universal Registration Document

OVERVIEW OF THE FISCAL YEAR Significant events for 2020

The first lockdown led to the closure of bank branches, which weighed on activity levels, particularly in savings. While revenue was affected in the first half, it then returned to a level close to that of 2019 over the rest of the year. In June, a new simplified, digital and competitivepersonal protection offering, “Secur’ Famille 2”, was launched in the Caisse d’Epargne network. In September, the new PERi offering was launched in the Caisse d’Epargne (CE) and Banque Populaire (BP) networks. For Non-Life Insurance, from a technical and financial standpoint, the crisis resulted in a decrease in sales and terminations following the confinement measures, a financial impact because of the contraction of the financial markets, and an improvement in the current-year claims expense during lockdowns, especially in the auto insurance, multi-risk home insurance and personal accident insurance segments. The ambition to become a fully-fledged bancassurance specialist and create a distinct Non-Life Insurance business model for individual and business customers within Natixis Assurances was realized after it was agreed, in May 2019, to renew the partnership with Covéa from January 1, 2020. The #INNOVE2020 program was rolled out throughout the year in the Banque Populaire and Caisse d’Epargne banks, with strong momentum in the production for the new Car and Multi-Risk Home Insurance offering in the Banque Populaire banks and the new Multi-Risk Home Caisse d’Epargne banks. Now all BanquePopulaireand Caisse d’Epargnebanks benefit from the strengths of the program: newly-designedexperiences, new offerings and new information system. BPCE Assurances has thus become the sole Non-Life Insurance platform for BPCE IARD retail customers, the platform dedicated to professionals for both the Caisse d’Epargne and Banque Populaire networks. In 2020, Natixis’ Payments activity played a key role in supporting its customers during the pandemic. Since the beginning of the health crisis, Natixis Payments has been committed to guaranteeing the same standard of service to the Banque Populaire and Caisse d’Epargne networks and to their direct customers in all areas (issuance, acquisition, payment processing, fraud prevention). The Payments division also supported the change in consumer purchasing and payment behaviors, in particular contactless and mobile payment: its experts worked actively to implement the new €50 ceiling for V contactless payments as from May 11 and the increased ceiling for restaurant vouchers in June; an unprecedented context of retail digitization, Natixis Payments V also supported retailers of all sizes in developing their online sales, thanks to the omnichannel platforms of its fintech Dalenys, whose ranges are designed for both small and large retailers, and its fintech PayPlug, which is intended for SMEs, either directly or in synergy with the Banque Populaire and Caisse d’Epargne banking networks; with regard to processing activities, ten new banking institutions, V including Bank Audi and Volkswagen Financial Services, chose to entrust Natixis Payments with the processing and clearing of their electronic payments. In a particularly complex context, this was a migration project on an unprecedented scale. This capacity for customer-centric care and response boosted the resilience of the payments business and led to increased net revenues compared to 2019.

This unprecedented context did not slow the launch of major projects: the Processing Business Unit (BU) launched a number of projects V with a view to its transformationto become a leading player in the Payments industry in terms of innovation and competitiveness: the roll-out of the Group PaymentsProgram(PPG) in the Banque V Populaire network (and in the first half of 2020 for the Caisse d’Epargne banks), the progress of the Oney project (payment processing, V acquisition, digital banking) which makes Natixis the payment partner of Oney, the deployment of product management and the agile V development of projects, the launch of its operational efficiency plan (Next Stage); V innovation remainedmore than ever a major priority to prepare for V the upcomingmonths: new Android POS terminals range launched in September 2020, omnichannel e-commerce offerings for SMEs and larger businesses, new applicationfor the Apetizmeal voucher in July 2020 (rated best application in the industry); several successful commercial achievements can also be noted, V such as the renewal by NIT of its restaurant vouchers contract with the French Ministry of the Economy and Finance, the acquisition of new direct customers and cross-selling via banking networks. For this last topic, the Network Development Department enabled Natixis Payments to move from producer to expert partner for networks and fintechs to develop their business. As a result, PayPlug achievedsales volumesof €61 millionwith the networks in 2020 compared to €9 million in 2019. Lastly, the Payments division also implemented its new organization in October 2020 in order to accelerate its business development and synergies between its business lines. This new organization is based on three Business Units (BU): the Processing BU with a customer-centric and product-oriented V organization to improve agility and performance; the Digital Payment BU (Dalenys, PayPlug, S-money) with strong V offering and organization integration to increase the impact on the market in the face of competition; the Benefits BU (NIT, Titres Cado, Comitéo and Lakooz) with V enhanced synergies between entities. Natixis Payments entered for the time the FW500 ranking (French Tech ranking for companies contributing to the digital transformationof France) at the 11th place, positioning itself as the leading company in the field of Payments and Financial Services in general. This alliance of performance and innovation made the division particularly attractive over the last twelve months: nearly 200 new employees (all entities combined) have thus joined to supplement its range of skills to support technological developments in itosfferings. This development of the business lines went hand-in-hand with: a 5% increase in liquidity needs year-on-year; V the consumption of Basel 3 RWA up 6% year-on-year to reach V €105.0 billion.

4

231

www.natixis.com

NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2020