NATIXIS // 2021 Universal Registration Document

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

financial assets at fair value through profit or loss because of their V characteristics: these are debt instruments that do not meet the SPPI criteria (see Note 5.1.2) , for example mutual fund units, which are considered debt instruments without SPPI characteristics under IFRS 9. NB: Non-SPPI debt instruments held for trading are presented with assets held for trading. Non-consolidated investments in associates for which the irrevocable option of measurement at fair value through non-recyclable other comprehensive income has not been adopted are also classified in this category (see Note 7.1.1) . Financial assets at fair value through profit and loss are measured on initial recognition at market value, with transaction costs recognized in the income statement. The market value is reviewed at each subsequent reporting date in line with the principles outlined in Note 5.6 “Fair value of financial instruments”. Changes in value, including coupons, are recorded under “Gains or losses on financial instruments at fair value through profit and loss” in the consolidated income statement, with the exception of interest accrued and due on non-SPPI financial assets, which is recorded under “Interest income”. Recognition date for securities 5.1.6 transactions Securities bought or sold are respectively recognized or derecognized on the settlement date, regardless of their accounting category. Reverse transactions are also recognized on the settlement date. For repurchase and reverse repurchase transactions, a financing commitment respectively received or given is recognized between the transaction date and the settlement date when these transactions are recognized in “Liabilities” and “Loans and receivables” respectively. When repurchase and reverse repurchase transactions are recognized in “Assets and liabilities at fair value through profit or loss”, the repurchase commitment is recognized as a forward interest rate derivative. 5.2 Transactions where Natixis is the lessee The lease contracts taken out by Natixis are recognized on the balance sheet under “right-of-use” on the asset side and under “financial liabilities” on the liabilities side in respect of rents and other payments made over the duration of the lease, unless the lease term is 12 months or less or the underlying asset has a low value, as provided for under IFRS 16. Natixis used the indicative threshold of US$ 5,000 provided by the IASB (in the Basis of Conclusions) to define low-value assets and elected to exclude certain contracts where such exceptions have a non-material impact on its financial statements. The use of rights is amortized on a straight-line basis and financial liabilities are amortized on an actuarial basis over the term of the lease. In accordance with IFRS 16, the lease term corresponds to the non-cancellable lease period plus any periods covered by termination options that the lessee is reasonably certain not to exercise. In general, the term is 9 years for “3/6/9” real estate leases under French law. For contracts subject to tacit extension, the lease term is determined, firstly, on the basis of the establishment’s judgment in view of its real estate strategy, and secondly, in the absence of ad hoc information, by limiting the duration on the basis of the Leases Lease term

timeframe set by Natixis’ Medium-Term Plan (MTP), namely three years. Outside France, and particularly in English-speaking countries (e.g. Natixis’ US subsidiaries), the term of real estate leases may range from 10 to 15 years. It is stipulated that a lease is no longer enforceable when the lessee and the lessor each has the right to terminate the lease without permission from the other party with no more than an insignificant penalty. Natixis assesses whether it is reasonably certain to exercise an option by considering all relevant facts and circumstances that create an economic incentive for it to exercise, or not to exercise, the option, such as: contractual terms and conditions for the optional periods V compared with market rates (amount of payments for the lease including payments resulting from termination penalties and residual value guarantees); significant leasehold improvements undertaken; V costs relating to the termination of the lease (negotiation costs, V relocation costs, costs of identifying another underlying asset suitable for the lessee’s needs, costs associated with returning the underlying asset in a contractually specified condition, etc.); the importance of the underlying asset for Natixis’ operations V considering whether it is a specialized asset, or its location; its past practice of renewing leases of similar assets, but also its V strategy regarding the future use of the assets. Measurement of lease liabilities At the lease commencement date, payments taken into account to determine lease liabilities include payments for the right to use the underlying asset during the lease term that are not paid at the commencement date, i.e.: fixed payments (including in-substance fixed payments), less any V lease incentives receivable. In-substance fixed lease payments are payments that may, in form, contain variability but that, in substance, are unavoidable; variable lease payments that depend on an index or a rate, initially V measured using the index or rate as at the commencement date; and where applicable, any amounts expected to be payable by Natixis V to the lessor under residual value guarantees, purchase options or payments of penalties for terminating the lease. Payments taken into account to determine lease liabilities exclude value added tax and housing tax, which fall under the scope of interpretation of IFRIC 21 “Levies”, as well as property tax and insurance premiums charged (where applicable) by the lessor, which constitute variable lease payments (where the amounts reimbursed are not contractually predetermined). In accordance with IFRS 16, lease payments are discounted at the interest rate implicit in the lease, i.e. the lessee’s incremental borrowing rate, which is the rate of interest that a lessee would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment. Natixis applies the marginal rate to its lease payments. This marginal rate depends on the contract term and currency. It also takes into account Natixis’ credit spread and the entities being refinanced by Natixis. Lease liabilities are booked under “Accrual accounts and other liabilities” in the consolidated balance sheet. The interest expense relating to the financial liability is recognized under “Interest and similar expenses”.

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2021