NATIXIS // 2021 Universal Registration Document

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

Operating expenses and depreciation, amortization, and impairments 6.7 Operating expenses mainly comprise payroll costs, including wages and salaries net of rebilled expenses, social security expenses and employee benefits such as pensions (defined benefit plans), and expenses relating to share-based payments recognized in accordance with IFRS 2. A breakdown of these expenses is provided in Note 11. This item also includes all administrative expenses and external services.

(in millions of euros) Personnel costs

Notes

31/12/2020

31/12/2021

10.2

(2,864)

(2,485)

Wages and salaries o/w share-based payments (a)

(17)

(19)

Pension benefits and other long-term employee benefits

(217) (613) (138)

(230) (565) (115) (106)

Social security expenses

Incentive and profit-sharing plans

Payroll-based taxes

(88) (29)

Other

(4)

Total Personnel costs (c) (d) Other operating expenses

(3,949)

(3,505)

(214)

(300)

Taxes and duties (b) External services

(1,321)

(1,579)

Other

(25)

(31)

Total Other operating expenses (c) (d)

(1,560) (5,509)

(1,910)

TOTAL (5,415) The amount recognized for 2021 in respect of the retention and performance plans includes an expense of €16 million (versus an expense of €13 million (a) as at December 31, 2020) for the portion of compensation paid in cash and indexed to the Natixis share price or the valuation formula, and an additional expense of €1 million (versus an expense of €6 million as at December 31, 2020) for the portion of compensation settled in Natixis shares. Of which a negative contribution of €136.7 million to the Single Resolution Fund (SRF) at December 31, 2021, versus a negative contribution of €165.3 million (b) as at December 31, 2020. which the Social Security and Solidarity Contribution (C3S) for -€13.9 million at December 31, 2021, versus -€41.1 million as at December 31, 2020. Of The Insurance activities no longer contributed as of December 31, 2021 due to their classification on the line “Net income from discontinued operations”. (c) The portion of personnel costs represented -€185.7 million and the portion of other operating expenses represented -€234.1 million at December 31, 2020. The activities of the Payments division no longer contributed to this aggregate as of December 31, 2021 due to their reclassification to the line “Net income (d) from discontinued operations”. The portion of personnel costs represented -€113.9 million and the portion of other operating expenses represented -€238.9 million at December 31, 2020.

5

Additionally, depreciation, amortization and impairment on property, plant and equipment and intangible assets include -€7.5 million in accelerated depreciation for building arrangements that are to be released.

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2021