NATIXIS // 2021 Universal Registration Document

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

The amount recognized as a provision in the balance sheet represents the present value of the obligation under defined-benefit plans at the closing date: minus any past service cost not yet recognized in income; V plus or minus any unrecognized actuarial gains or losses in V accordance with the corridor principle arising from: experience adjustments linked to demographic variables, V changes in actuarial assumptions, V change in discount rate, V differences between expected returns on plan assets and V reimbursement rights and their actual returns; minus the market value of plan assets at the closing date. V The annual payroll costs recognized in respect of defined-benefit plans consist of: rights vesting for beneficiaries over the period; V the financial cost corresponding to unwinding the discount on the V commitment; the expected return on plan assets; V the amortization of actuarial gains and losses and past service V costs; the effects of plan curtailments and settlements. V “Other long-term benefits” , including long-service awards and deferred compensation paid in cash and in cash indexed to a valuation formula that does not represent fair value (see Note 2.9), as part of the Loyalty and Performance Plans. Other long-term benefits are measured using an actuarial method identical to that used for defined-benefit post-employment benefits, with the exception of actuarial gains and losses for which the corridor method does not apply and the cost of past services that are recognized directly as expenses. The estimated amount of the expense related to cash-settled variable compensation, subject to the employee’s continued service in accordance with the Employee Retention and Performance Recognition plans, is recognized over the vesting period. 2.9 Natixis allocates plans to certain categories of its employees. These plans are settled in two ways: in shares or in cash indexed to the share price or to a valuation formula. All of these plans are contingent on satisfying service and/or performance requirements. Cash-settled employee deferred variable compensation plan indexed to the value of the Natixis share Cash-settled plans indexed to the share price give rise to the recognition of a payroll expense that is measured taking account of changes to the fair value of the share price on the balance sheet date and the likelihood of satisfying performance and/or service requirements. Where a service requirement exists, the calculated expense is recognized on a straight-line basis over the vesting period. When no service requirement exists, the expense is recognized immediately as a debt. The latter is then remeasured at each reporting date taking into account performancecriteria and any changes in the value of underlying shares. Loyalty and performance plans

Employee benefits 2.8 Employee benefits are recognized in “Payroll costs”. They fall into four categories:

“short-term benefits” including salaries, social security contributions, annual leave, employee profit-sharing, incentive plans, top-up contributions and variable compensation payable in the 12 months after they are attributed, are expensed in the period in which the corresponding services were rendered; “termination benefits” are granted to employees upon the termination of their employment and prior to retirement. A provision is accrued for these benefits; “post-employment benefits” such as pensions, other supplementary retirement benefits applicable to the banking industry, end-of-career awards and other contractual benefits payable to retirees. Natixis distinguishes between two types of post-employment benefits: defined-contribution plans , which mainly consist of the social V security basic pension scheme and the supplementary schemes AGIRC and ARRCO, under which an entity has no obligation to pay a specified benefit amount. Contributions paid under defined-contribution plans are expensed in the corresponding period, defined-benefit plans under which Natixis has a legal or V constructive obligation to pay a specified benefit amount are valued and funded. A provision is set aside for defined-benefit plans based on an actuarial assessment of the benefit obligation using the projected unit credit method. This method draws on demographic and financial assumptions. The value of plan assets is deducted from the actuarial debt. This valuation is carried out on a regular basis by independent actuaries. Actuarial assumptionsare reviewed annually. Differences resulting from changes in actuarial assumptions and experience adjustments (impact of differences between actuarial assumptions and actual experience) give rise to actuarial gains and losses. In accordance with RecommendationNo. 2013-02 of the ANC on rules for measuring and recognizing retirement and similar commitments, dated November 7, 2013 (which allowed the partial adoption of revised IAS 19 as adopted by the European Union in June 2012), Natixis chose to maintain the corridor method approach in the individual financial statements. Under this method, Natixis does not recognize the portion of net cumulative actuarial gains and losses that is lower than the greater of (i) 10% of the present value of the defined-benefitobligationand (ii) 10% of the fair value of any plan assets at the end of the previous reportingperiod. The portion of actuarial gains and losses outside the 10% corridor is therefore recognized over the average remaining working lives of the employees participating in the relevant plan. In the event of changes to an existing plan or the implementation of a new plan, past service cost is recognized in income over the period until the benefits become vested. Insurance contracts taken up with a party related to Natixis and intended to finance all or part of Natixis’ defined-benefit plan commitments are recorded in the asset side of the balance sheet as “Other assets”.

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2021