NATIXIS // 2021 Universal Registration Document

5 CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER 31, 2021 Consolidated financial statements and notes

In addition, Natixis did not early apply the following texts, adopted by the European Union but not yet effective at December 31, 2021: the amendments to IAS 37 entitled “Onerous contracts – V contract execution costs” adopted by the European Union on July 2, 2021 and applicable from January 1, 2022. These amendments amend IAS 37 to specify that the costs of performing a contract include both incremental costs, such as direct labor and material costs, and the charging of other costs directly related to the contract, such as the allocation of the depreciation expense relating to a tangible fixed asset used, among other things, for the performance of the contract. Application of these amendments should not have an impact on Natixis’ financial statements; the amendments to IFRS 3 entitled “Reference to the Conceptual V Framework”, adopted by the European Union on July 2, 2021 and applicable to business combinations occurring as of January 1, 2022. These amendments remove from IFRS 3 the reference to the definition of financial assets and liabilities provided for in the previous version of the Conceptual Framework, to refer to the definitions of financial assets and liabilities in the new version of the Conceptual Framework published in March 2018. As the update of this reference may have consequences that could generate gains or losses after accounting for the business combination, IFRS 3 has been amended to specify that, for transactions and other events falling within the scope of application of IAS 37 and IFRIC 21, an acquirer must apply these standards to identify the provisions to be recognized. These amendments also specify that an acquirer must not recognize any assets acquired through a business combination; the amendments to IAS 16 entitled “Property, plant and V equipment: proceeds prior to intended use” adopted by the European Union on July 2, 2021 and applicable from January 1, 2022. These amendments clarify that it is prohibited to deduct from the cost of a fixed asset the proceeds of the sale of items that are produced while the asset is brought to the place and in the condition necessary to allow its operation as planned by management. As such, the proceeds from the sale and the production costs of these items are to be recognized in the income statement and their amounts are to be disclosed in the notes to the financial statements with reference to the income statement lines to which they contribute. The application of these amendments should not have an impact on Natixis’ financial statements; the “Annual Improvements to IFRS Cycle 2018-2021” adopted by V the European Union on July 2, 2021 and applicable from January 1, 2022. These amendments are part of the annual improvement process which aims to simplify and clarify international accounting standards. The following standards are amended: IFRS 1 “First-time adoption of International Financial Reporting Standards”, IFRS 9 “Financial Instruments”, IAS 41 “Agriculture”, and IFRS 16 “Leases”. The application of these amendments should not have an impact on Natixis’ financial statements; IFRS 17 “Insurance Contracts” published by the IASB on May 18, V 2017 and its amendments published on June 25, 2020 were adopted by the European Union on November 19, 2021 (EU Regulation No. 2021/2036). Initially applicable as of January 1, 2021 with a comparison to January 1, 2020, this standard will come into force on January 1, 2023 with a comparison for the year 2022 (amendments of June 2020). IFRS 17 will have no impact on Natixis’ financial statements given the announced transfer of the Insurance business line to BPCE (see Note 1.2).

1.1.2

Presentation of the consolidated

financial statements The consolidated financial statements have been prepared in accordance with the assessment and presentation principles set out in Notes 2 and 5 below. Year-end 1.1.3 The consolidated financial statements are based on the individual financial statements at December 31, 2021 of the entities included in Natixis’ consolidation scope. Notes to the financial statements 1.1.4 Unless otherwise indicated, the figures given in the notes are expressed in millions of euros.

1.2

Significant events

1.2.1

Natixis and Arch Capital Group Ltd. announced the completion of the agreement to sell 29.5% of Coface’s share capital

Following the approval of the relevant competition and regulatory authorities, Natixis and Arch Capital Group Ltd. announced on February 10, 2021 the sale by Natixis of a 29.5% stake in the share capital of Coface to Arch Financial Holdings Europe IV Limited, an affiliate of Arch Capital Group Ltd., at a price of €9.95 per share (dividend attached). Natixis is no longer represented on the Board of Directors of Coface. The result recorded on the loss of significant influence amounted to €7.3 million. Following this transaction, the residual investment in Coface, now classified as financial assets at fair value through equity, was 12.7% (for a fair value of €197.3 million at June 30, 2021). During the second half of 2021, Natixis sold 4,226,361 Coface shares to the market, bringing its residual stake to 10.04% at December 31, 2021, representing an amount of €188.9 million calculated on the basis of the share price on that date. On January 6, 2022, Natixis announced the successful sale of its entire residual stake in the Coface entity, at a price of €11.55 per share, carried out as part of an accelerated placement with institutional investors. This disposal will affect Natixis’ financial statements for the first quarter of 2022, with the recognition of a negative €14.8 million in other comprehensive income. Filing of a simplified public tender 1.2.2 offer for Natixis shares On February 9, 2021, BPCE S.A. announced its intention to acquire the shares in the capital of Natixis S.A. that it did not hold, i.e. around 29.3% as at December 31, 2020, and to file a simplified public tender offer with the French Financial Markets Authority. After obtaining the approval of the AMF on the compliance of the transaction and the various regulatory authorizations required, the simplified public tender offer for Natixis shares took place from June 4 to July 9 inclusive. In accordance with the opinion of the French Financial Markets Authority (D&I No. 221C1758 of July 13, 2021), on July 21, 2021, BPCE squeezed out all Natixis shares that had not been tendered to the public offer, under the same financial conditions as the simplified public tender offer, i.e. €4 per share of Natixis. As a result, due to the successful implementation of the squeeze-out, Natixis was delisted on July 21, 2021.

274

NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2021