NATIXIS // 2021 Universal Registration Document

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

3.4

Interests in partnerships and associates

3.4.1 Partnerships (joint operations and joint ventures) Natixis does not have interests in partnerships (joint operations and joint ventures) that have an impact on Natixis’ consolidated financial statements.

Types of partnerships and associates with which Natixis has dealings

Associates The main equity investment held by Natixis at December 31, 2021 was EDF Investment Group (EIG).

Table summarizing investments in associates:

31/12/2021

31/12/2020

Value of the investments in associates

Gains and losses recorded directly in equity

Value of the investments in associates

Gains and losses recorded directly in equity

Net income

(in millions of euros)

Net income

Joint ventures Associates

522 522

19 10

(5)

879 521 158 200 879

(53)

(2) (0) (1) (1)

EDF Investment Group (EIG)

0 0

10

0 1

7 1

(47) (16) (53)

Coface (a)

(5) (5)

Other entities (b)

TOTAL (2) Coface’s net income for 2021 corresponds to the net income recorded on the loss of significant influence (see Note 1.2.1). In 2020, net income included -€57.4 million for the impairment (a) of the stake held by Natixis. The market value of the stake in Coface using the equity method is €158.5 million as of December 31, 2020. The net income of other entities of a negative €16 million as at December 31, 2020 included a depreciation of -€11.5 million on the Adir entity, bringing the value of the equity method to (b) zero. As of December 31, 2021, the contribution of the Insurance business line to this item has been classified as assets held for sale for an amount of €196 million (see Note 7.10). 522 19

Summarized financial information pertaining to material joint ventures and associates 3.4.2 The summarized financial data pertaining to material associates and/or joint ventures under significant influence are presented below.

31/12/2021

21/12/2021

EDF Investment Group (EIG)

EDF Investment Group (EIG)

(in millions of euros)

Coface

Associate

Valuation method

Associate

Associate

Dividends received Main aggregates TOTAL ASSETS

8

11

6,984

7,553 5,554

6,969

TOTAL DEBT

49

41

Income statement Pre-tax profit

193 (49) 144 (10)

128 (45)

202 (50) 152 (11)

Income tax Net income

83

Gains or losses recorded directly in equity

145

The data for EIG established on December 31, 2021 comply with IFRS as adopted by the European Union on that date and with the accounting principles and valuation methods applied to Natixis’ consolidated financial statements as presented in Note 5.

See below the financial information reconciliation table with the carrying amount calculated using the equity method.

31/12/2021

21/12/2021

EDF Investment Group (EIG)

EDF Investment Group (EIG)

(in millions of euros)

Coface

Equity of the associate Percentage of ownership

6,935 7.54%

1,701

6,927 7.54%

12.70%

Natixis’ share in the equity of the associate

522

216

521

Goodwill Impairment

(57) 158

Value of the investment in the associate

522

521

Nature and scope of restrictions 3.4.3 Natixis did not encounter significant restrictions on interests held in associates and joint ventures.

3.4.4

Risks associated with interests in joint

ventures and associates held by entities

There are no unrecognized shares in the losses of joint ventures or associates over the period following the application of the equity method.

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2021