NATIXIS // 2021 Universal Registration Document

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

31/12/2021

31/12/2020

Income Expense

Total

(in millions of euros)

Income Expense Total (b) (c)

Interbank transactions Customer transactions Securities transactions Payment services (c)

10

(3)

7

8

(27)

(18) 588 (98) 412

675

(60)

615 (81)

568

20

65 29

(146)

76

(174)

(29)

0

477 121

(65)

Financial Services

248

(546)

(298) 4,056

(504)

(383) 3,414

Trust deals (a)

4,056

0

3,414

0

Financing, guarantee, securities and derivative commitments

288 147

(156)

131 134

313 107

(141)

172

Other (b) TOTAL

(13)

(1,137) (2,028)

(1,030)

5,518 3,056 Of which performance fees in the amount of €587 million (of which €532 million for Europe) at December 31, 2021, versus €314 million (of which €286 million (a) for Europe) as at December 31, 2020. The Insurance activities no longer contributed as of December 31, 2021 due to their classification on the line “Net income from discontinued operations”. The (b) share of net fees relating to these activities, the corresponding income of which is presented in “Net income from Insurance activities”, represented a negative €1,125 million as at December 31, 2020. The activities of the Payments division no longer contributed at December 31, 2021 due to their reclassification to the line “Net income from discontinued (c) operations”. The share of net commissions of these activities represented €411 million as at December 31, 2020. (953) 4,566 5,084

Gains and losses on financial assets and liabilities at fair value through 6.3 profit or loss

This item includes gains and losses on financial assets and liabilities at fair value through profit and loss, whether held for trading or designated under the fair value option or at fair value. This line item also includes interest on these instruments, except for those presented as interest income.

“Hedging derivatives” include changes in the fair value of derivatives classified as fair value hedges, excluding interest, plus the symmetrical revaluation of the items hedged. They also include the “ineffective” portion of cash flow hedges.

5

(in millions of euros)

31/12/2020

31/12/2021

Net gains/(losses) on financial assets and liabilities excluding hedging derivatives

1,537 2,650 (7,630)

1,021 1,601 3,722

Net gains/(losses) on financial assets and liabilities held for trading (b)

o/w derivatives not eligible for hedge accounting

Net gains/(losses) on financial assets to be valued at fair value through profit or loss Net gains/(losses) on financial assets and liabilities under the fair value option

7

66

(1,229)

(660)

Other

109

15

Hedging derivatives and revaluation of hedged items Ineffective portion of cash flow hedges (CFH)

(7)

(19) (11)

(18)

Ineffective portion of fair value hedges (FVH)

12

(9)

Changes in fair value hedges Changes in hedged items

179

(133)

(167) 1,531

124

TOTAL (a) 1,002 Insofar as the expenses and income presented in the income statement are classified by type and not by function, the net income of activities on financial (a) instruments at fair value through profit and loss should be considered as a whole. The results presented above do not include the refinancing cost of these

financial instruments, which is recorded in interest income or expenses. “Net gains/(losses) on financial assets and liabilities held for trading” include: (b)

reductions applied to the fair value of the CDS concluded with the monoline companies: an increase in the reduced inventory was recorded during fiscal year V 2021 of €13 million compared to an increase in the reduced inventory of €4.7 million (expense) as at December 31, 2020 (excluding the impact of foreign exchange and the effect of the BPCE guarantee), bringing the total reduced stock to €16.8 million at December 31, 2021 compared with €29.8 million as at December 31, 2020; as at December 31, 2021, a valuation adjustment recorded on the passive valuation of derivatives for own credit risk (DVA) of a negative €4.1 million (expense) V compared to an income of €11.8 million at December 31, 2020; in addition, the value adjustment concerning the valuation of the counterparty risk (CVA) of financial assets was €25.7 million (income) at December 31, 2021 V compared to a charge of €39.8 million at December 31, 2020; the Funding Valuation Adjustment (FVA) used on uncollateralized derivatives or imperfectly collateralized derivatives is also recognized on this line in the V amount of €16.1 million (expense) at December 31, 2021 versus a negative €3.3 million as at December 31, 2020.

315

www.natixis.com

NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2021