NATIXIS // 2021 Universal Registration Document

4 COMMENTS OF THE FISCAL YEAR

Management report as of December 31, 2021

Appendix to 4.2.2 – Consolidated Results 1 – Management results reclassified as consolidated results in 2021

Non-recurring items

Discon

2021

tinued Insu rance and Pay ments acti vity

Mana gement vision excluding excep

2021 Re ported

Corpo

Coface

H2O

2021 Restated

tional items

Insu rance

Pay ments

rate Center Coface

reclassi fication

reclassi fication

(in millions of euros)

AWM CIB

8,945

(18)

69

8,996

121 (1,458) 7,658

Net banking income

Banking operating expenses Gross operating income

(6,560)

(41)

(9)

(5) (5)

(9) (9)

(76)

(6,701)

(55)

898 (5,859)

2,385 (41)

(28)

(8)

2,295 (190) 2,105

66 (561) 1,800

Cost of risk

(190)

0

8 (181)

2,195 (41)

(28)

(5)

(9)

(8)

66 (552)

1,618

Net operating income

Associates

18 29

0 0 0

18 29

7 0

(7)

19

Gains or losses on other assets Change in the value of goodwill

0

(84)

(55)

0

0

2,243 (41)

(28)

(5)

(9) (5)

(8)

2,152 (617)

7 (19)

(559) 1,582 180 (452)

Pre-tax profit Income taxes

(634)

11

7

1

2

(14)

Net income on discontinued operations Non-controlling interests Contribution of Coface Contribution of H2O Net income (Group share)

379 379

(84)

3

0 0 0

(81)

(25)

(106)

7

7

(7)

0 0

(58)

(58)

58

1,524 (85)

(21)

(4)

(14)

(6)

7 1,403

0

1,403

Cost/income ratio

73.30%

74.50%

76.50%

2 – Management results reclassified as consolidated results in 2020

2020

Non-recurring items

Mana gement vision excluding excep

2020 Re ported

Corpo

Coface

H2O

2020 Restated

tional items

Insu rance

Pay ments

rate Center Coface

reclassi fication

reclassi fication

(in millions of euros)

AWM CIB

Net banking income

7,275

0 (14)

(86) (37)

7,175

130 7,306 (56) (5,828) 74 1,478

Banking operating expenses Gross operating income

(5,674)

(43)

(11) (11)

(7) (7)

(5,771)

1,601 (43)

(14)

(123)

1,404 (851)

(851)

0

0 (851)

Cost of risk

Net operating income

750 (43)

(11)

(14) (23)

(7)

(123)

553

74

626 (53)

Associates

17

0 0 0

(6)

(47)

Gains or losses on other assets Change in the value of goodwill

6 0

0

6 (146)

(48)

(187)

0

0

Pre-tax profit Income taxes

773 (43)

(11)

(37)

(7)

(123)

553 (192)

26 386

(246)

12

3

4

2

37

(188)

(16) (30)

(204)

Non-controlling interests Contribution of Coface

(52)

0

0

(52)

(81)

11

0 (203)

(192)

192

0 0

Contribution of H2O

32 (51)

0

(19)

19

Net income (Group share) (Reported)

517 (81)

(8)

(33)

(5)

(86)

(203)

101

0 101

Cost/income ratio

78.0%

80.4%

79.8%

254

NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2021