NATIXIS -2020 Universal Registration Document

OVERVIEW OF THE FISCAL YEAR Subsequent events

Business Line

Divestment description

2018 Wealth Management Disposal of Sélection 1818, a major Wealth Management Advisor, as part of Natixis Wealth Management’s strategic repositioning. Signing of a partnership with the buyer, Nortia, for the distribution of funds on an open-architecture basis. Asset management Disposal of the Axeltis fund distribution platform to MFEX, together with the signing of a long-term partnership to distribute funds on an open-architecture basis.

Subsequent events 4.4

Given the announcement date of these measures, and the concomitant opening of negotiations on the accompanying measures, it is not possible at this date to provide an estimate of their financial effects. For details of these post-closing events, please refer to chapter [5.1] Note 1.3 "Post -closing events".

On February 9, 2021, the Board of Directors approved the 2020 financial statements. Since then, several announcementshave been made: Filing by BPCE SA of a simplified takeover bid for Natixishares. V Completion of the agreement to sell 29.5% of Coface’s share V capital between Natixis and Arch Capital Group Ltd. These two transactions have no impact on Natixis' consolidated financial statements at December 31, 2020. Launch of a transformation and operational efficiency program. V

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Information about Natixis S.A. 4.5

Natixis S.A.’s parent company income statement 4.5.1

2020

2019

2020/2019 (in %)

2020/2019 (in %)

2020/2019 (in %)

Mainland France

Mainland France

Branches

Natixis S.A.

(in millions of euros)

Branches

Natixis S.A.

Net revenues

2,125

(14)

1,020

(30)

3,145

(20)

2,478

1,452

3,930

Operating expenses

(1,775)

(7)

(634)

(13)

(2,409)

(9)

(1,906)

(732)

(2,638)

Gross operating income

350

(39)

386

(46)

736

(43)

572

720

1,292

Cost of risk

(292)

(6)

(402)

244

(694)

62

(312)

(117)

(429)

Net Operating income

58

(78)

(16)

(103)

42

(95)

260

603

863

Gains/(losses) on fixed assets

(100)

(108)

(10)

(1,100)

(110)

(109)

1,258

1

1,259

Income before tax

(42)

(103)

(26)

(104)

(68)

(103)

1,518

604 (98)

2,122

Income tax

227

4

(16)

(84)

211

76

218

120

Funding/reversal of funding for general banking risks and regulated provisions

0

N/A

0

N/A

0

N/A

0

0

0

Income/(loss) for the year

185

(89)

(42)

(108)

143

(94)

1,736

506

2,242

At December 31, 2020, Natixis’ gross operating income stood at +€736 million,a -€556 million decreasecomparedwith December 31, 2019, due to a €785 million decrease in revenues, and despite a +€229 million decrease in operating expenses. Net interest income rose by +€225 million: +€354 million for business in Mainland France and -€129 million for foreign branches, this net increase was attributable to the Revolving Credit Facilities (RCF) drawdowns and the sustained production of vanilla financing during the year. Net fee and commission income increased by +€49 million, resulting from a +€107 million increase in Mainland France and a decrease of -€58 million in business recorded by foreign branches. This change in fee and commissionincome can be broken down into +€165 million in net fee and commission income on off-balance sheet transactions, -€56 million on transactions with customers, -€53 million in securities transactions, and -€15 million in financial service or payment instrument transactions. Dividends paid by Natixis subsidiaries decreased by -€174 million, including in particular a -€164 milliondecrease in dividends from the

Natixis Investment Managers, asset management subsidiary, a -€51 milliondecrease in dividends paid by Coface and an increase of €79 million from Natixis Assurances. Gains on trading portfolio transactionsdecreased by €567 million, of which -€603 million attributable to operations in Mainland France and +€37 million to transactions carried out by foreignbranches. Gains on investment portfolio transactions decreased by €298 million, of which -€224 million attributable to operations in Mainland France and -€74 million to the branches. Operating expenses fell €229 million, including -€114 million in payroll costs (-€116 million in variable compensation), -€109 million in external services net of rebilling, attributable to cost-cutting programs and -€7 million in costs and taxes. The net provision for credit losses was up €265 million (of which +€285 million for activity in International branches) to -€694 million. Excluding portfolio-based provisions, the cost of risk was -€667 million in 2020 compared to -€324 million in 2019, marking a

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2020