NATIXIS // 2021 Universal Registration Document

RISK FACTORS, RISK MANAGEMENT AND PILLAR III Risk management

Exposure to sovereign risk (This information forms an integral part of the financiasltatements certified by the Statutory Auditors.) Exposure to sovereign debt (Natixis Assurances) is presented in the following table as net book value before application of the sharing mechanism between policyholders and insurers specific to life insurance.

Exposure (in millions of euros) (a)

31/12/2020

31/12/2021

Germany Austria Belgium

650

387

39

80

1,194 1,061

1,308

Spain

837 102

225

United States

France

8,385

8,730

Italy

389 643 101 184

618 660 117 190 102 290

3

Luxembourg

Poland

Portugal Slovakia

93

Other sovereign countries

457

TOTAL

13,422

13,420

Excluding Coface exposure at December 31, 2021 and December 31, 2020. (a)

Climate risk 3.2.11.3 Pursuant to Article 173 of the energy transition act, as of the 2016 fiscal year Natixis is required to report on the risks linked to climate change and on its low-carbon strategy. The identification and management of risks linked to social and climate change are detailed in Chapter [7] of this universal registration document. Environmental and social risks 3.2.11.4 The identification and management of environmental and social risks are detailed in Chapter [7] of this universal registration document.

Strategic risk 3.2.11.2 Strategic risks are defined as: the risk inherent to the strategy chosen; or V resulting from Natixis’ inability to implement its strategy. V Strategy risks are monitored by the Board of Directors, supported by its Strategic Committee, which examines the strategies guiding Natixis’ activities at least once a year. The Board of Directors also approves strategic investment projects and any transactions, particularly acquisitions and disposals, that are likely to significantly affect Natixis’ results, the structure of its balance sheet or its risk profile. Senior Management is in charge of defining and steering Natixis’ strategy, with assistance from the Senior Management Committee. The membership of these various bodies is presented in Chapter [2] of this document. The Internal Rules of the Board of Directors, including the procedure for calling meetings, can be found in Chapter [2] paragraph [2.2.1.2].

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2021