NATIXIS -2020 Universal Registration Document

5 FINANCIAL DATA

Consolidated financial statements and notes

Gains or losses on other assets 6.9 This item comprisescapital gains and losses on the disposal of property, plant and equipmentand intangibleassets used in operations, as well as capital gains and losses on the disposal of investments icnonsolidated companies.

31/12/2020

31/12/2019

Investments in consolidated companies

Property, plant and equipment and intangible assets

Investments in consolidated companies

Property, plant and equipment and intangible assets

Total (a)

(in millions of euros)

Total (b)

Net capital gains/(losses) on disposals

(187) (187)

0 0

(187) (187)

627 627

60 60

687 687

TOTAL

Including -€145.6 million concerning the gain or loss on the disposal of Coface and -€47.6 million on H2O recorded in fiscal year 2020 (a) (see Note 1.2 Significant events). Including €697.1 million for the sale of the SFS business lines and -€14.7 million for the disposal of Natixis Brasil. (b)

Reconciliation of the tax expense in the financial statements

6.10

and the theoretical tax expense

(in millions of euros)

31/12/2019

31/12/2020

101

1,897

+ Net income Group share

+ Net income (non-controlling interests)

81

380 669

+ Income tax charge

204

+ Income from discontinued operations + Impairment of goodwill

(5)

- Share in income of associates

53

(21)

= Consolidated net income/(loss) before tax, goodwill amortization and share in income of associates

439 282 721

2,919 (110) 2,809

+/- Permanent differences (a)

= Consolidated taxable income/(loss)

x Theoretical tax rate (b) = Theoretical tax charge

32.02%

34.43%

(231)

(967)

+ Income taxed at reduced rates

(2) 16 18 (3) (2)

0

+ Losses for the period not recognized for deferred tax purposes

(7) 16

+ Impact of tax consolidation

+ Differences in foreign subsidiary tax rates + Tax on prior periods and other tax items

209

80

= Tax charge for the period

(204) (247)

(669) (522)

of which: taxes payable

deferred tax (147) The permanent differences include the impact of the loss of control of the Coface division (+€145.6 million), the effect of the recognition of projected losses (a) related to the sale of H2O by Natixis Investment Managers (+€49 million) as well as the impact of non-tax-deductible regulatory contributions in the amount of +€114.7 million at December 31, 2020 compared to +€130 million at December 31, 2019. In 2019, the permanent differences include the portion of the non-taxable long-term capital gain related to the sale of SFS entities to BPCE (-€454 million) and the non-deductible capital loss on the disposal of Natixis Brasil (+€14.7 million). In 2020, the standard corporate tax rate fell to 32.02%. (b) 43

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2020