NATIXIS // 2021 Universal Registration Document

COMMENTS OF THE FISCAL YEAR Highlights of 2021

In 2021, Natixis Investment Managers continued to strengthen its multi-affiliate model by announcing the purchase of La Banque Postale’s shares in AEW Europe (40%) and in Ostrum AM (45%). Natixis Investment Managers also continued its withdrawal from H2O AM, with the management company gradually resuming the distribution of funds, in the interest of unitholders and in agreement with the regulatory authorities. 2021 was marked by favorable market conditions, solid management performances across all asset classes, and very dynamic inflows of €21.5 billion, of which €13 billion collected by Natixis Investment Managers’ distribution platforms, across all geographical areas. This positive context has enabled Natixis Investment Managers to strengthen its positions: the growth of its assets under management (+8% at constant exchange rates), its margins and its revenues testify to the solidity and relevanceof its active multi-affiliate management model. In the United States, Natixis Investment Managers continues to benefit from solid sales momentum (€17 billion in inflows) and is developing its distribution network, particularly with retail customers, through strengthenedstrategic distribution partnerships. In July 2021, the direct indexing activities, portfolio construction, multi-asset class portfolios and the portfolio management analysis and advisory activities were merged into Natixis Investment Managers Solutions to serve clients with a more legible offering. In Europe, Latin America and Asia-Pacific, inflows were positive (€4.5 billion in inflows), particularly in responsible equity management strategies and infrastructure.Major institutional clients have renewed their trust in Natixis Investment Managers’ management companies, and distribution through the Banques Populaires and Caisses d’Epargne networks has generated solid gross inflows from European affiliates. Natixis Investment Managers and its affiliates are continuing their commitment to finance the transition to a more sustainable economy, with the objective of reaching 50% of assets under management that are sustainable or impactful by 2024, with responsible investment already representing nearly 35% of outstandings. At the end of 2021, 99%of NatixisInvestmentManagers’outstandings were managed by asset management companies that have signed the PRI (Principles for Responsible Investment). Lastly, Natixis InvestmentManagers is continuing its investments to support its sustainable development objectives; In particular, it has invested, alongside other investors, in Iceberg Data Lab, a fintech specialized in data, which developsmodels to measure the impact of investments on the environment and biodiversity. Natixis InvestmentManagers also intends to consolidate its position as a leading player in the Asset Management sector by becoming one of the most client-centric asset managers in the world by 2024. As such, the company has recruited a Customer Experience Manager, whose aimwill be to support the company in achieving this objective, in particular through the optimizationof customer journeys and the implementation of a Net Promoter Score.

Commitment,to the energy transitionand SRI finance.This principle V aims to confirmour status as a benchmarkfinancialpartner for our clients for their energy transitionstrategies, resulting in a target of multiplying Natixis CIB’s green revenuesby a factor of 1.7 by 2024. It also aimsto positionESGat theheartof ourAssetManagementand Insurance activities, with a target of sustainable assets under management or positive impact assets at Natixis IM of more than €600 billionand 50% in 2024. Lastly,Natixisis committedto aligning its balancesheet and its investmentson a “net zero” trajectoryin line with the ParisAgreement(alignmentof the generallife insurancefund on a +1.5°C trajectory by 2030, and alignment of the Natixis CIB balance sheet on a +1.5°C trajectory by 2050); Transformation, and investment to create sustainable value. V This principle aims to ensure the sustainable growth of Natixis’ business lines within the framework of the current risk appetite, through continuous investments in the solidity of infrastructures and the supervision system (e.g. approximately €400 million in cumulative investments in Natixis CIB’s technology over the 2021-2024period). It also aims to invest in innovation, in particular data and APIs, to develop the skills of employees and to change and simplify workingmethods to cultivate our agility and collective commitment. Thanks to these three principles, each of Natixis’ business lines has a clear goal for 2024: Asset & Wealth Management : confirm Natixis Investment V Managers as a global leader in asset management;provide a high added-value offer to our direct High Net Worth Individuals (HNWI) customers and customers of the Banque Populaire and Caisse d’Epargne networks; Corporate & Investment Banking : make Natixis Corporate & V InvestmentBankingthebenchmarkbankfor our clientsin termsof our selective and diversified expertise; Insurance : accelerate the rollout of responsible insurance V solutions for clients of the Banque Populaire and Caisse d’Epargne networks by capitalizing on the investments made; Payments : innovate and be a source of growth for Groupe BPCE V and of differentiation for the Banque Populaire and Caisse d’Epargne networks. Natixis began to implement this plan in 2021. It consolidated its positions and continued the commercial development of its main business lines, focused on both BPCE’s networks and its own customers. Within the Asset & WealthManagementdivision , Natixis Investment Managers , ranked among the leaders in asset management worldwide (€1,245.5 billion in assets under management at end-December 2021), supports investors in building portfolios by offering them a range of diversified and responsible solutions. With its multi-affiliatemodel, which draws on the expertise of more than 20 asset management companies around the world, Natixis Investment Managers offers a wide range of solutions to enable its clients to achieve their investment objectives, whatever the market conditions. The company is developing its offer around four key areas of expertise: fundamental active management, management under liability constraints, real assets and quantitativemanagement.

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2021