NATIXIS // 2021 Universal Registration Document

6 INDIVIDUAL FINANCIAL STATEMENTS AT DECEMBER 31, 2021 Individual financial statements and notes

investments in subsidiaries and affiliates: shares and other V variable-income securities in related corporate entities over which Natixis exercises exclusive control, i.e. corporate entities likely to be fully consolidated in Natixis’ consolidation scope. They are recognized at their acquisition date at the purchase price excluding acquisition costs. These securities are valued individually at their lowest value in use at the reporting date or their acquisition cost. Unrealized losses are subject to a provision for impairment. The measurement approaches used to determine value in use are the following, as appropriate: the net asset method (restated or not); V the peer comparison method; V the discounted future cash flows (DCF) method; V the stock market price; or V a combination of these methods. V The DCF method is based on the establishment of business plans prepared by the management of the subsidiaries in question and approvedby Natixis Senior Management.The discount rate on future cash flows is the result of: an average rate of return on an investment deemed to be risk-free; V an average credit spread on the market in which the subsidiary is V listed; an average beta as reflected in a sample of equivalent companies. V Treasury shares: Natixis may hold treasury shares to regulate its V share price under a liquidity agreement. These shares are recognizedas securities held for trading and follow the same rules as other securities in this category. Moreover, treasury shares acquired through arbitraging on stock market indices are recognized as securities held for trading. Following the delisting, Natixis no longer carries out this type of transaction. Treasury shares held for distribution to employees are classified as held for sale and follow the corresponding rules. Income, value adjustments and proceeds on disposal of securities portfolios are recognized as follows: income from variable-incomesecurities is recognizedas and when V received or when the payment has been subject to a resolution at a General Shareholders’ Meeting; income from fixed-income securities is recognized based on the V accrual method; value adjustments and proceeds from the disposal of securities V are recognized under different headings depending on which portfolio they belong to: under “Net Banking Income” for securities held for trading and V securities held for sale, under cost of risk for fixed-income securities in the portfolio of V securities held for sale or for investment when adjustments

for investments in associates, subsidiaries and affiliates and V other long-term securities. Reclassifications from the “securities held for trading” to the “securities held for sale” and “securities held for investment” categories and from “securities held for sale” to “securities held for investment” are permitted in exceptional market circumstances requiring a change in strategy or when the securities in question have ceased to be tradable on an active market since their acquisition. The regulation allows banks to sell all or part of the securities reclassified as “held for investment” if the following two conditions are met: the transfer was motivated by exceptional circumstances; V the market for these securities has become active again. V Natixis has carried out no such transfers in its separate financial statements. and intangible assets Fixed assets are recognized at acquisition cost plus directly attributable transaction costs and borrowing costs accrued during any phase of construction or installation before they come into service. Internally-generated software is carried on the asset side of the balance sheet at its direct development cost, including outsourcing expenses and personnel costs directly attributable to its production and preparation where they meet the criteria for capitalization. After acquisition, fixed assets are carried at cost less any cumulative write-down, amortization and impairment losses. As soon as they are in a condition to be used by Natixis in the manner in which they are intended, fixed assets are depreciated or amortized over their estimated useful lives on a straight-line or declining balance basis when this better reflects the economic amortization/depreciation. The residual value of the asset is deducted from its depreciableor amortizableamount when it can be measured reliably. In line with applicable accounting principles, a specific depreciation schedule is defined for each significant component of an item of property, plant and equipment which has a different useful life or is expected to consume future economic benefits differently from the item as a whole. For buildings comprising business and investment property, the following components and depreciation periods are applied: land: non-depreciable V non-destructible facades: non-depreciable V facades, roofs and waterproofing: 20 to 40 years V foundations and framework: 30 to 60 years V external rendering: 10 to 20 years V Property, plant and equipment 2.3

in value relate to counterparty risk exposure, under net gains/(losses) on fixed assets: V

equipment and installations: 10 to 20 years V internal fixtures and fittings: 8 to 15 years V

for adjustments in the value of securities held for investment V (excluding impairment for risk exposure to a counterparty) when there is a high probability of disposal of such securities held for investment due to unforeseen circumstances and for all proceeds from the disposal of said securities,

Other items of property, plant and equipment are depreciated over their estimated useful lives, generally between five to ten years. Purchased software is amortized on a straight-line basis over its estimated useful life, which in most cases is less than five years. Internally-generated software is amortized over its estimated useful life, which cannot exceed 15 years.

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2021