NATIXIS -2020 Universal Registration Document

FINANCIAL DATA Parent company financial statements and notes

Note 1

Significant events

covers a percentage of the principal, interest and related costs still owed on the debt until it reachesmaturity, unless it is called in earlier upon the occurrence of a credit event. Interest on the SGLs is in return for the time value and credit risk associatedwith the principal. The early repayment penalty is zero or set in a contractually reasonable manner, and the extension conditions are not set in advance but rather are reviewed at the time of the extension based on market conditions. SGLs are recognized in the “Transactionswith customers” category (see Note 2.1) . The government guarantee is considered an integral part of the terms of the contract and is taken into account in the calculation of any impairment. The guarantee fee paid when the loan is granted by Natixis to the French State is recognized in income over the initial term of theSGL and is presented under “Interest and similar income”. As of December 31, 2020, Natixis had granted 86 SGL applications for an outstanding amount of €2,503 million, and the associated guarantees received from the State amounted to €2,269 million. Commitments not yet drawn amount to €75 million, all of which concern the press and publishing sector. Deferment of loan maturities 1.2.3 (moratoria) and other restructuring In the context of the Covid-19 crisis, Natixis granted various forms of concessions (temporary suspensions of due dates, rescheduling payments, etc.) to some of its clients, in order to help them overcome temporary cash flow difficulties caused by the crisis. A case-by-case analysis was carried out in order to determine whether the financial difficulties encountered by the client were purely fleeting and of the moment, and whether the resulting restructuringwould enable the counterparty to get through the crisis without jeopardizingits ability to honor its contractual agreementsat maturity. For this reason, the individual granting of moratoria or other concessions did not always lead to those loans being classified as “Restructured loans for which a concession has been granted” (see Note 2.1). Furthermore, it is noted that Natixis did not grant any “en masse” (or “general”) moratoria, meaning moratoria offered on a wide scale to a set of clients with no specific conditions. As of December 31,2020, a moratoriumwas placed on 203 projects, representing a total gross amount of €2,242 million. Provisions related to these restructured loans amount to €21,4 million as of December 31, 2020. Fair value of financial assets affected 1.2.4 by the health crisis Given the effects of the Covid-19 health crisis on financial markets, the valuation of some products was affected by market illiquidity during the fiscal year 2020. Against this backdrop, Natixis' activities were exposed to significant remarking of certain value factors, such as the “dividend” component: - the announcement by some companies that they would suspend their dividends led to a near-eliminationof most short-termdividends and was also reflected in the consensus values used for the remarking of this factor;

Coface 1.1 Natixis announced on February 25, 2020 that it had signed a sale contract with Arch Capital Group (an insurer and reinsurer in the United States) for 29.5% of the share capital and voting rights of Coface, at a unit price per share of €10.70. This price was revised on August 28, 2020 to €9.95 per share. The completion of the deal is contingent on approval from regulatory authorities. All of these were obtained in early February 2021 (see Note 3 Post-closing events) . At December 31, 2020, no gains or losses on disposals or impairment losses were recognized in the parent company financial statements of Natixis. The residual share of 12.7%, which is not affected by the sale agreement, was however valued on the basis of Coface’s closing stock market price (€8.21 per share) for €158.5 million, after the recognition of a provision of -€41.4 million (including an addition of -€37.7 million in the 2020 fiscal year - see note 7 Shares in related companies, investments, other securities held. the financial statements The rapid global spread of the Covid-19 pandemic led most of the affected countries to impose lockdown measures on their populations during the year 2020, thereby heavily reducing business, which led to a worsening of the economic situation of numerous business sectors as well as a major disruption to financialmarkets. In this environment,many companiesare experiencingcash problems, and Natixis is helping its customersget throughthis crisis, particularly by participatingin the implementationof certain government-directed economic support measures (see Note 2.1 below) . The provision for credit losses thus increased during the fiscal year 2020. It amounted to €694 million at December 31, 2020 compared to €429 million at December 31, 2019. Economic support measures 1.2.1 Measures to support the economy were taken during the fiscal year 2020 involving credit institutions. State-guaranteed loans 1.2.2 State-guaranteed loans (SGLs) are a support measure enacted through Article 6 of the 2020 French Finance Law No. 2020-289 of March 23, 2020 and by the order of the Minister of the Economyand Finance of March 23, 2020 granting a government guarantee to lending institutionsand financingcompanieseffectiveMarch 16,2020 by the French governmentin order to address the cash flow needs of companiesaffectedby the Covid-19health crisis. The characteristics of the SGLs (purpose, interest) are the same for all banks. The SGL is a one-year cash loan with repayment deferred over that period. Recipient companies will be able to decide at the end of the first year to pay off the SGL over a period of one to five additional years. At the end of the first year, the beneficiary companies may extend the amortization period for an additional year. During this period, only interest and the cost of the State guarantee wiblle paid. For eligible companies, the amount of the SGL is generally capped at 25% of the Company’s revenue. The SGL is 70% to 90% guaranteed by the government, depending on the size of the Company, with the banks assuming the rest of the risk. The government guarantee Impact of the health crisis on 1.2

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2020