NATIXIS // 2021 Universal Registration Document

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

A discontinued operation is a clearly identifiable component of an entity that either has been disposed of, or is classified as held for sale, and: represents a separate major line of business or geographic area of V operations; without constituting a separate major line of business or V geographic area of operations, the component is part of a single coordinated plan to dispose of a separate major line of business or geographic area of operations; or is a subsidiary acquired exclusively with a view to resale. V Assets and liabilities relating to discontinued operations are accounted for in the balance sheet in the same way as groups of assets held for sale. Gains or losses from these operations are presented on a separate line of the income statement and include the post-tax gain or loss resulting from operations discontinued before disposal and from the sale or valuation of assets or groups of assets held for sale at fair value less selling costs. through profit or loss These are financial liabilities held for trading (including derivatives) or classified in this category on a voluntary basis at initial recognition using the fair value option available under IFRS 9. Cash guarantee deposits and margin calls with collateral status set up in connection with repurchase agreements and derivative transactions recognized in instruments at fair value through profit or loss are also included in financial liabilities held for trading, as they are closely linked to the activities or instruments that they cover and are an integral part of the business model of the activity to which they relate. Securities valued under this irrevocable option fall into one of the following three categories: instruments that are part of a group of financial assets measured V and managed at fair value: the option applies to liabilities managed and measured at fair value, provided the management follows a fair value risk management policy; instruments showing an accounting mismatch with a related V financial asset/liability: applying the option enables the elimination of accounting mismatches stemming from the application of different valuation rules to instruments managed under a single strategy; hybrid instruments with one or more significant, separable V embedded derivatives: an embedded derivative is the component of a financial or non-financial hybrid instrument that qualifies as a derivative. The option allows the entire instrument to be measured at fair value, and therefore avoids the need to extract, recognize or separately measure the embedded derivative. Financial liabilities in this category are carried at fair value at the reporting date and shown in the balance sheet as “Financial liabilities at fair value through profit or loss”. Changes in fair value are recognized in income for the period under “Net gains or losses on financial instruments at fair value through profit or loss”, except for changes in fair value attributable to own credit risk on financial liabilities at fair value through profit or loss, as such recognition does not create or increase an accounting mismatch. Changes in value attributable to own credit risk are recorded in “Revaluation of own credit risk on financial liabilities at fair value through profit or loss” under “Gains and losses recognized directly in other comprehensive income”. Financial liabilities at fair value 5.9

Write-downs may be reversed if there has been a change in the conditions that initially resulted in the write-down (for example there is no longer any objective evidence of impairment). Gains or losses on disposals Gains or losses on disposals of assets used in the business are recognized in the income statement under “Gains or losses on other assets”, while gains and losses on disposals of investment property are recorded within “Income from other activities” or “Expenses from other activities”. Scrapping or discontinuation of fixed assets under construction The expense incurred from the scrapping of a fixed asset is booked to “Depreciation, amortization and impairment of property, plant and equipment and intangible assets” in the consolidated income statement. The discontinuation of IT projects under development results in their derecognition. A corresponding expense is posted to “Gains or losses on property, plant and equipment and intangible assets” on the consolidated income statement. and discontinued operations A non-current asset (or group of assets) is meant to be disposed of when its carrying amount is recovered by means of a sale. This asset (or group of assets) must be immediately available for the sale, and it must be highly likely that the sale will happen within twelve months. A sale is highly likely if: a plan to sell the asset (or group of assets) involving active V marketing is made by management; a non-binding offer has been submitted by at least one potential V buyer; it is unlikely that significant changes will be made to the plan or V that it will be withdrawn. The relevant assets are classified in the “Non-current assets held for sale” line item and cease to be amortized as soon as they are reclassified. An impairment loss is recognized if their carrying amount is higher than their fair value less selling costs. Associated liabilities are also identified on a separate line of the balance sheet. A group held for sale may be a group of CGUs, a CGU or part of a CGU. The group may include the entity’s assets and liabilities, including current assets, current liabilities and assets that are outside the scope of the measurement provisions under IFRS 5. If a non-current asset within the scope of the measurement provisions under IFRS 5 is part of a group held for sale, the measurement provisions under IFRS 5 apply to the group as a whole, which means that the group is measured at the lower of its carrying amount or its fair value net of selling costs. When the fair value of the group of assets and liabilities is lower than their overall net carrying amount, Natixis limits the amount of impairment to non-current assets (goodwill, intangible assets and property, plant and equipment) measured in accordance with IFRS 5. If the sale has not taken place within twelve months of classification in “Non-current assets held for sale”, the asset or group of assets ceases to be classified in this category, barring special circumstances independent of Natixis’ control. The subsidiaries for which Natixis has committed to a plan to sell assets are listed in Note 2.6 “Subsidiaries held for sale”. Assets held for sale 5.8

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2021