NATIXIS // 2021 Universal Registration Document

CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER 31, 2021 Statutory Auditors’ report on the consolidated financial statements

Presentation and valuation of subsidiaries held for sale Risk identified and main judgments

Our audit approach We have reviewed the documentation relating to these transactions made available by Natixis and assessed their accounting treatment as of December 31, 2021. Our work consisted in: verifying that the proposed divestments did indeed meet the IFRS V 5 criteria, enabling them to be classified as activities held for sale; examining the identification and presentation of all of the V components of the assets and liabilities held for sale in “Non-current assets held for sale”, “Non-current liabilities held for sale” and “Income from discontinued operations”, with regard to the provisions of IFRS 5; assessing the methods used to measure the fair value of assets V and liabilities held for sale; verifying the estimate made by Natixis of the gains and losses on V disposals less the estimated costs of sale, as well as their recognition under gains and losses on other assets; lastly, assessing the appropriateness of the information provided V on these transactions and their accounting treatment in the notes to the consolidated financial statements.

As of December 31, 2021, the Natixis Group recognized four disposal transactions in accordance with IFRS 5 “Non-current assets held for sale and discontinued operations”: On November 5, 2020, the announcement of negotiations V concerning the sale of H2O, followed by the continuation of negotiations leading to the signature of a final agreement on January 6, 2022; On February 9, 2021, the announcement of the industrial project V to support the development of Natixis' business lines and the simplification of its functional lines resulted in the direct reporting to BPCE of the Insurance and Payments business lines, as well as of Natixis Immo Exploitation (NIE), which was also followed by the signing of a memorandum of understanding on September 22, 2021.The Natixis Group recorded the impacts of these disposals in its financial statements as of December 31, 2021. Pursuant to the provisions of IFRS 5, and in addition to the assets and liabilities of H2O already recorded on a separate line of the balance sheet as of December 31, 2020, the assets and liabilities of these subsidiaries have been added to the assets and liabilities intended to be recorded as assets and liabilities held for sale, at the lower of their net carrying amount and their fair value net of disposal costs. As discontinued operations, the results of the Insurance and Payment business lines have also been identified on a separate line of the income statement. The estimated gains and losses on other assets have been recorded when applicable. Given the importance of these disposals for the Natixis Group, we considered that their accounting treatment, as well as the information provided in this respect in the notes to the consolidated financial statements, was a key audit matter for fiscal year 2021. With regard to the Insurance entities, the amount of non-current assets and liabilities held for sale amounted to €123,793 million and €122,928 million, respectively, and the net income of the Insurance activities was €350 million. For the Payments entities, the amount of non-current assets and liabilities held for sale amounted to €1,084 million and €813 million, respectively, and the net income of the Payments activities to €29 million. For Natixis Immo Exploitation, the amount of non-current assets and liabilities held for sale amounted to €601 million and €549 million, respectively. Lastly, in the case of H2O, the amount of non-current assets and liabilities held for sale amounted to respectively €401 million and €76 million and the estimated gain on disposal was -€84 million, presented in gains and losses on other assets. For more details, please refer to Notes 1.2.2, 2.6, 5.8, 6.9, 6.11 and 7.10 to the consolidated financial statements.

5

409

www.natixis.com

NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2021