NATIXIS -2020 Universal Registration Document

FINANCIAL DATA Consolidated financial statements and notes

The main reclassifications carried out at December 31, 2020 (see Note 7.5.1.) , concern: Bermudanaccreters (in Australiandollars), with a residual maturity V of between 10 and 20 years, which have been transferred to fair value Level 2 due to the non-materiality of the accreting factor parameter (see table above) ; Mono-underlyingstructured products indexed on equity which are V transferred to level 3 following the review of the observability horizon of the valuation inputs (volatility, repo, dividends) of the underlying assets. As a reminder, the main reclassifications in the 2019 fiscal year consisted of Bermuda accreter swaptions (in EUR and AUD), certain complex multi- or mono-underlying derivatives indexed to indices, and associated liabilities measured under the fair value option. These instruments were reclassified from Level 2 to Level 3 of the fair value hierarchy subsequent to the observabilityreviewconducted during the period, which found a lack of observed prices for the corresponding inputs and products, serving as a basis for their reclassification to Level 3 of the fair value hierarchy.

d)

Natixis’ policy on transfers between

fair value levels Transfersbetween fair value levels are reviewed and validated by the ValuationCommittee, predominantlyincluding representativesof the Finance, Risk and Business Lines functions. The Committee considers various indicators of market activity and liquidity as described in the General Principles. A review is undertaken for any instrument that ceases to meet these criteria or once again complies with the criteria.

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2020