NATIXIS // 2021 Universal Registration Document

4 COMMENTS OF THE FISCAL YEAR

Definitions and Alternative Performance Indicators

Definitions and Alternative 4.7 Performance Indicators

The presentation of the Natixis income statement has been amended from 2020 to reflect the deconsolidation of Coface following the disposal of 29.5% of its capital. The remaining contribution of Coface has been presented separately at the bottom of the income statement. The other components under Financial Investments (Natixis Algérie, capital investments put into run-off) are now incorporated under the Corporate Center. In addition, in view of the work in progress for the orderly and gradual unwinding of the partnership with H2O, the contribution of H2O AM is now isolated at the end of the income statement. A pro forma adjustment was carried out on the 2020 data for comparability. As a reminder, to comply with the requirementsof the French law on the separation of banking activities, the Short-Term Treasury and Collateral Management activities, which used to be part of Global Markets, were transferred to the Finance division on April 1, 2017. However, to ensure comparability, in this management report CIB refers to CIB and the Short-Term Treasury and Collateral Management activities. In addition, the contributionof the Insuranceand Paymentsbusiness lines is presented above in the various income statement aggregates, while it is presented in the income statement of discontinued operations in the consolidated financial statements at December 31, 2021 in Chapter [5] of this Universal Registration Document. In addition, the standards used to assess the performance of the divisions are those defined for the new 2021-2024 strategic plan: regulatory capital allocated to the business lines on the basis V of 10.5% of Basel 3 average RWA; 1.5% rate of return on capital. V As a reminder, the earnings of the Natixis business lines are presented in accordance with the Basel 3 regulatory framework. Capital allocation specific to the Insurance business lines is based on the Basel 3 accounting treatment for investments in insurance companies, as transposed into the CRD4 and CRR (“Danish compromise”). The conventions applied to determine the earnings generated by the various business lines are as follows: the Business divisions record the return on regulatory capital V allocated to them. By convention, the rate of return on normative capital is 1.5%; the return on the issued share capital of the entities comprisingthe V divisions is eliminated;

the cost of Tier Two debt subordinationis charged to the divisions V in proportion to their regulatory capital; the divisions are invoiced for an amount representing the bulk of V Natixis’ overhead. The uninvoiced portion accounts for less than 3% (excluding Single Resolution Fund) of Natixis’ total overhead. The Single Resolution Fund (SRF) contribution is covered by the Corporate Center and is not charged back to the divisions. Deeply subordinated notes (DSNs) are classified as equity instruments; interest expense on those instruments is not recognized in the income statement. ROE and ROTE for Natixis and the business lines are calculated as follows: the profit measure used to determine Natixis’ ROE is net income V (Group share) minus the post-tax interest expense on DSNs. Equity capital is average shareholders’ equity Group share as defined by IFRS, after payout of dividends, excluding average hybrid debt, and excluding unrealized or deferred gains and losses recognized in equity (OCI); the calculation of business line ROE is based on: V as the numerator, the business line’s pre-tax profit, as per the V aforementioned rules, to which a normative tax is applied. The normative tax rate is determined for each of the divisions by factoring in the tax liability conditions of Natixis’ companies in the jurisdictions where they operate. It is determined once a year and does not factor in potential changes over the year linked to deferred taxes, as the denominator,normativecapital, calculatedon the basis of V 10.5% of RWA assigned to the division, plus goodwill and intangible assets related to the business line; Natixis ROTE is calculated by taking as the numerator net income V Group share excluding DSN interest expenses on preferred shares after tax. Equity capital is the average equity attributable to equity (Group share) as defined by IFRS, after payout of dividends, excluding average hybrid debt, average intangible assets and average goodwill, and excluding unrealized or deferred gains and losses recognized in equity.

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2021