NATIXIS -2020 Universal Registration Document

PRESENTATION OF NATIXIS Natixis’ businesses

Financial investments 1.2.5 Coface A global expert in trade risk prevention and guarantees for corporate clients 75 years of experience and a dense geographic network have made Coface a benchmark in credit insurance, risk management and the global economy. The experts at Coface, which aims to become the most agile credit insurance partner in its industry, operate in the heart of the global economy. They help their 50,000 customersbuild successful, dynamic and growth-oriented companies by protecting them from the risk of financial default by their clients. Coface’s services and solutions protect companies and help them make the necessary credit-related decisions to strengthen their ability to sell their products on both domestic and export markets. Coface launches its new strategic plan for 2023, “Build to Lead” At its “investor day” held on February 25 2020 in Paris, Coface presented its new strategic plan for 2023, “Build To Lead”. This plan aims to extend and deepen the transformation initiated by “tFoitWin”. Change in shareholding On February 25 2020, Natixis announced the sale of 29.5% of Coface’s share capital to Arch Capital Group Ltd and declared its intention to no longer sit on Coface’s Board of Directors as from the final completion of the transaction. Natixis also clarified that its agreement with Arch provides that, on that date, the Board will be composed of ten members, four of whom are to be appointed by Arch and six of whom are to be independent Directors (including the five current independent Directors). Coface cooperates with many countries to guarantee the availability of credit insurance In 2020, many governments quickly recognized the crucial role of credit insurance in maintaining inter-company credit, the primary source of financing for many companies. In order to guarantee the availability of credit insurance at a time when risk is not necessarily insurable, many states have set up guaranteemechanisms, the form and scope of which vary. Coface had thus finalized 13 agreementsin countries that account for 64% of exposures at December 312,020. Rating agencies recognize Coface’s good performance Rating agencies quickly analyzed the potential consequencesof the crisis for the various economic sectors. In the insurance sector, and particularly in credit insurance, the first reaction was the anticipation of a reduction in the credit rating. As of December 31,2020, Coface’s ratings are as follows: Moody’s: A2/negative outlook; Fitch: AA-/negative outlook & AM Best: ‘A’ (Excellent)/”stableo”utlook.

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Acquisition of GIEK Kredittforsikring AS (Norway) On July 1, Coface announced the completion of the acquisition of GIEK Kredittforsikring AS,a company established in 2001 that brings together the short-term export credit insurance activities previously underwritten by the Norwegian export credit agency GIEK. This activity is now operated under the Coface GK brand. Appointments to the Board of Directors The Board of Directors of Coface S.A. met on September 9 and appointed Nicolas Namias, Chief Executive Officer of Natixis, as Chairmanof the Board of Directors.He succeedsFrançoisRiahi, who is leaving the Board of Directors of Coface S.A. following his departure from Natixis. On February 10, 2021, Natixis and Arch Capital Group Ltd. announced the completion of the sale by Natixis of a 29.5% stake in Coface to Arch Financial Holdings Europe IV Limited. Natixis is no longer represented on the Board of Directors of Coface, as Arch occupies four of the Natixis seats. Natixis will hold its residual stake of 12.7% in Coface as a financial investment. Results for 2020 The consolidated revenue of €1,450.9 million was down 0.6% (on comparablescope and exchange rates) on 2019. The net combined ratio amounted to 79.8%, i.e., up 2.1 points on 2019 (77.7%). This is made up of a loss ratio up by 2.7 points to 47.7%, and a cost ratio down by 0.6 points to 32.1%comparedto 2019. The Group ended the year with a net profit attributable to owners of the parent down by 43%, to €82.9 million (compared to €146.7 million in 2019) and a return on equity of 4.8%. The estimated solvency ratio at December 31, 2020 was 204.7% (1) (and 191% excludingthe effect of government plans), above the upper bound of the target zone of 155% to 175%. Cofacewill propose to shareholdersa dividenddistribution (2) of €0.55 per share, bringing the total distribution rate to 100%. Outlook The start of 2021 was marked by renewed uncertainties in terms of health. As the global vaccination campaign began, new, often more contagious, variants of the virus emerged. They demand stricter measures to curb the spread, further delaying economic recovery. At this stage they still appear to be sensitive to the vaccine. Areas that are little affected by the pandemic (Asiain particular) continue to grow. There are, therefore, major disparities between countries and between economic sectors, as the current crisis has accelerated a number of major trends: increased digitization of the economy, the proliferation of zombie companies and an economic environment similar to the situation in Japan. In this uncertain context, Coface’s strategy, based on excellence in credit insurance, the development of adjacent activities and agility, is thus particularly pertinent. In addition, Coface is continuing its cooperationwith States that have set up dedicated credit insurance plans in order to maintainsupplier credit as much as possible.Where appropriate,Coface has signed extensions to plans launched in 2020.

This estimated solvency ratio is a preliminary calculation based on Coface’s interpretation of the Solvency II regulations and using the Partial Internal Model. The result of the (1) final calculation could be different from this preliminary calculation. The estimated Solvency Ratio is not audited. The proposed distribution is subject to approval by the General Shareholders’ Meeting of May 12, 2021. (2)

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2020