NATIXIS // 2021 Universal Registration Document

COMMENTS OF THE FISCAL YEAR Information about Natixis S.A.

The net cost of risk was down by -€727 million (of which -€367 million concerning foreign branches) to stand at €33 million. Excluding collective provisions (a reversal of €103 million in 2021 compared to a provision of -€27 million in 2020), the cost of risk was -€70 million in 2021 compared with -€667 million in 2020, a strong improvement in line with changes in the macro-economic and financial environment. The fiscal year 2020 was particularly marked by the consequencesof the COVID-19 health crisis (in particular the aviation sector) and by the provisions made for the sector of independent American oil and gas producers, whose exit has been announced by Natixis. Together, these items brought operating income to €753 million, up by €711 million. As at December 31, 2021, the gains or losses on fixed assets amounted to -€114 million,an increase of €4 million. They include an amount of -€178 million in provisions for securities to be transferred to BPCE as part of the contribution of the Insurance and Payments divisions which is expected to occur during the first quarter of 2022. The balance for fiscal year 2020 included a provision for Coface shares of -€41.4 millionand a provision for Natixis Payment Holding shares of -€84.8 million. Proposed allocation of earnings 4.5.2 Natixis’ parent company financial statements, as at December 31, 2021, showed positive net income of €555,173,956.79 and, taking into account retained earnings of €3,203,564,635.12, showed distributable earnings of €3,758,738,591.91.

Net income after tax was €555 million versus €143 million i2n020. As of December 31,2021, the balance sheet totaled €403,268 million versus €345,669 million as of December 31, 2020. This increase includes the setting up in Paris of term loans and borrowings with BPCE in the amount of €54.2 billion (“Open” transactions) concluded in order to meet long-term liquidity ratio constraints (NSFR: Net Stable Funding Ratio). Indeed, as of June 30, 2021, although Groupe BPCE complies with this ratio at the consolidated level, each Group entity must now also comply with the ratio. As Natixis is naturally very loss making due to its very short balance sheet (more than 70% of Natixis’ balance sheet is due in less than one year), these open transactions were concluded with separate option exercise notice periods between lending transactions and borrowing transactions in order to allow Natixis to meet a minimum ratio of 100%. In this case, Natixis lends at ST (< 1 year) and borrows at LT (> 1 year) from BPCE S.A. It should be noted that the Group has requested an NSFR exemption for BPCE subsidiaries, pending a response from the regulator.

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The third resolution that will be put before the General Shareholders’ Meeting on May 24, 2022, proposes to: pay an ordinary dividend of €789,489,582.77; V allocate the remaining distributable earnings to retained earnings, V i.e. €2,969,249,009.14.

Sumptuary and non-deductible expenses 4.5.3

In accordance with the provisions of Articles 223 quater and 223 quinquies of the French General Tax Code, please note that the financial statements for the past fiscal year do not include sumptuareyxpenses that are not deductible from taxable income.

Payment terms 4.5.4

In accordancewith Article D.ArticleD.441-6 of the French CommercialCode, supplier invoices that have been receivedbut remain unpaid at the reporting date (for a total amount including tax of €23.3 million) are as follows:

Invoices received and not paid at the end of fiscal year 2021

Late payment tranches

Total (1 day and over)

0 days (indicative)

1 to 30 days

31 to 60 days

61 to 90 days

91 days and over

Total amount of invoices concerned incl. tax (in millions of euros)

20.3

2.2

0.1

0.1

0.6

3.0

Percentage of total amount of purchases including tax for the fiscal year

1.41%

0.15%

0.01%

0.01%

0.04%

0.20%

Number of invoices concerned

800

144

This information does not include banking transactions andrelated operations. For debt and receivables associated with Natixis S.A. clients, please refer to Note 38 of Section 5.3 on assets and liabilities by maturity, which provides information on their residual maturity.

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2021