NATIXIS -2020 Universal Registration Document

FINANCIAL DATA Statutory Auditors’ report on the consolidated financial statements

Presentation and valuation of subsidiaries held for sale Risk identified and main judgments

Our audit approach We have reviewed the documentation relating to these transactions made available by Natixis and assessed their accounting treatment as of December 31, 2020. Our work consisted in: verifying that the proposed divestments did indeed meet the IFRS V 5 criteria, enabling them to be classified as activities heldfor sale; examining the identification and presentation of all the V components of the assets and liabilitiesheld for sale under “Assets held for sale” and “Liabilities associated with assets held for sale”, with regard to IFRS 5 provisions; assessing the methods used to measure the fair value of assets V and liabilities held for sale; verifying the estimate made by Natixis of the gains and losses on V disposals less the estimated costs of the sale, as well as their recognition under gains and losses on other assets; lastly, assessing the appropriateness of the information provided V on these transactions and their accounting treatment in the notes to the consolidated financial statements.

At December 31, 2020, the Natixis Group recognized two disposal transactions in accordance with IFRS 5 “Non-current assets held for sale and discontinued operations”: on February 25, 2020, with the signature of a sale agreement to V Arch Capital concerning 29.5% of the share capital and voting rights of Coface; on November 5, 2020, with the announcement of negotiations V regarding the sale of H2O, followed by the signing of the final memorandum of understanding on January 29, 2021. The Natixis Group recorded the impacts of these disposals in its financial statements at December 31, 2020. Pursuant to the provisions of IFRS 5, the assets and liabilities of these subsidiaries have been grouped together on a separate line of the balance sheet as assets and liabilities held for sale and have been valued in accordance with the applicable provisions, i.e. lower of their net carrying amount and fair value less costs to sell. The estimated gains and losses on other assets have beenrecorded. Given the importance of these disposals for the Natixis Group, we considered that their accounting treatment, as well as the information provided in this respect in the notes to the consolidated financial statements, was a key audit matter for fiscal yea2r020. In the case of Coface, the amount of non-currentassets held for sale amounted to €446.3 million and the loss on disposal recognizedwas -€145.6 million, presented in gains and losses on other assets. With regard to H2O, the amount of non-current assets and liabilities held for sale amounted to €281.5 million and €54.7 million respectively, and the estimated loss on disposal was -€47.6 million euros, presented in gains and losses on other assets. Please refer to Notes 1.2.1, 1.2.2, 2.6, 5.8 and 6.9 to the consolidated financial statements for more details.

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2020