NATIXIS -2020 Universal Registration Document

5 FINANCIAL DATA

Consolidated financial statements and notes

7.12

Goodwill

At December 31, 2020

31/12/2020

01/01/2020

Acqui- sitions during the period (c)

Translation adjust- ments

Transfers to equity method

Impair- ment

Reclassi- fications

Other changes

Closing balance

Opening balance

Transfers

(in millions of euros)

Asset & Wealth Management (a)

3,235

52

(120)

3,168

Corporate & Investment banking

144

(9)

135

Insurance Payments

93

93

137 282

137

(282) (282)

0

Outside the division (b)

TOTAL 3,533 Certain goodwill recorded for the United States gives rise to a tax amortization over 15 years due to the difference between the carrying amount of the goodwill (a) and its tax value. This difference in treatment generated a deferred tax liability of €320.9 million as at December 31, 2020. -€282 million corresponding to the disposal of goodwill recognized following the loss of control of Coface (see Note 1.2 Significant events). (b) €52 million corresponding to the goodwill recognized on the acquisition of a 55% stake in La Banque Postale AM following the merger of Natixis IM’s interest (c) rate and insurance management activities with the former. 3,891 52 0 (129) 0 0 0

Furthermore, goodwill on entities consolidated using the equitmy ethod amounted to €1.2 million at December 31, 2020.

At December 31, 2019

01/01/2019

31/12/2019

Acqui- sitions during the

Translation adjust- ments

Transfers to equity method

Opening balance

Impair- ment

Reclass- ifications

Other changes

Closing balance

(in millions of euros)

period Transfers

Asset & Wealth Management (a)

3,136

42

(2)

30

31

(1)

3,235

Corporate & Investment Banking (b)

129

11

4

144

Insurance

93

93

Payments (c)

0

10

126

137

Specialized Financial Services (d) Financial Investments

157 281

(157)

(0)

1

282

Other activities

(0)

(0)

TOTAL 3,891 Of which +€42.1 million in goodwill recorded on the acquisition of Massena Partners. In addition, a goodwill adjustment of -€1 million for MV Crédit was made (a) within the one-year allocation period. Of which +€11.4 million in goodwill recorded on the acquisition of Azure Capital Holdings Pty Ltd. (b) Of which +€10.2 million in goodwill recorded on the acquisition of Titres Cadeaux. (c) The disposal of the SFS division’s retail banking entities also altered the presentation of the Natixis CGUs. Within the former SFS CGU, the Payments entities (d) now belong to the “Payments” CGU. The Group reallocated €126 million in goodwill to the Payments CGU, predominantly comprising goodwill recognized on the recent fintech acquisitions in the aforementioned business lines. Natixis Interépargne was reassigned to Asset & Wealth Management (€31 million in “historical” goodwill reallocated). 3,796 64 (2) 0 34 0 0 (1)

340

NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2020