NATIXIS // 2021 Universal Registration Document

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

Changes to the terms and conditions of a cash-settled employee deferred variable compensation plan indexed to the value of the Natixis share which would lead to the latter being reclassified as an employee deferred variable compensation plan settled in shares would trigger, when the plan stipulates the allocation of existing shares, the derecognition of the debt recorded for the initial plan indexed to the value of the Natixis share and the recognition of a liability as a provision for the new employee deferred variable compensation plan settled in shares. The difference between the recognition of the new plan and the derecognitionof the preexisting debt is taken directly to profit and loss. When the plan provides for the allocation of new shares, only the derecognition of the debt recorded for the initial plan indexed to the value of the Natixis share is taken to profit and loss. Employee deferred variable compensation plan settled in shares Plans settled in shares are recognized in accordance with French Accounting Committee (CRC) Regulation No. 2008-15, which provides for the recognition of a liability where there is the likelihood or the certainty that the obligation to grant shares generates an outflow in settlement without an offsetting provision: if the granting involves the issue of new shares, Natixis incurs no V outflow and, as a result, no expense is recognized; if the granting involves the repurchaseof shares or the granting of V existing shares, an outflowwill be recognizedwhen the shares are issued to employees,without an offsettingprovision. A provision is then set aside taking account of the entry cost of the shares or the share price on the balance sheet date if the shares have not yet been purchased, and the probable number of shares granted to employees. The expense is recognized in stages over the vesting period. Loyalty and performance plans settled in cash indexed to a valuation formula Following the delisting of the Natixis share on July 21, 2021, the loyalty and performance plans payable in indexed cash (for their components not yet vested) were modified: their payment is now indexed according to a formula based on the price of the simplified tender offer for Natixis shares (€4) and the change in Groupe BPCE’s net income (Group share). These plans are equivalent to “Other long-term benefits”. The principles are similar to those provided for cash-settled plans indexed to share value. The corresponding expense all of these plans, recognized in the financial statements for the fiscal year 2021, was €18.9 million, compared with €9.3 million at December 31, 2020. 2.10 A provision for risks is a liability of uncertain timing or amount. A liability is a present obligation arising from past events, the settlement of which is expected to result in an outflow of resources embodying economic benefits that can be reliably measured. The amount recognized as a provision should be the best estimate of the expenditure required to settle the present obligation at the reporting date. This amount is discounted when the effect of discounting is material. Provisions are reviewed at each reporting date and adjusted if necessary.Provisionsrecognizedon the balance sheet, other than provisions to cover employee benefits and sector and country risks, mainly concern provisions for restructuring, provisions for disputes, fines and penalties and provisions for other risks. Provisions for risks

2.11

Transactions denominated

in foreign currencies Off-balancesheet receivables,debts and commitmentsdenominated in foreign currencies are converted to euros at the going exchange rate at the balance sheet date through the revaluation of foreign exchange positions. The difference between amounts resulting from the valuation of euro-denominated foreign exchange positions and amounts reported in equivalent euro-denominatedforeign exchange positions is recorded in the income statement. However, exchange differences relating to institutional operations are recognized under accrual accounts. subsidiaries The financial statements of foreign subsidiaries, prepared in accordance with local rules, are restated in accordance with generally accepted accounting principles in France, translated into euros when the functional currency is not the euro and included in Natixis’ financial statements after the elimination of intra-group transactions. Items from the balance sheet and income statement are translated at the end of the reporting period. The difference arising from the translation of foreign subsidiaries’ capital allocations are recorded in the accrual accounts. resolution mechanisms The procedure for setting up the deposit and resolution guarantee fund was changed by a French Ministerial Order dated October 27, 2015. Contributions under the deposit guarantee and resolution fund may be paid in the form of shareholder or association certificates and cash guarantee deposits that are recognized as assets on the balance sheet and contributions (non-refundable contributions in the event of voluntary withdrawal of approval) recognized in profit or loss. Directive No. 2014/59/EU (BRRD – Bank Recovery and Resolution Directive) which establishes the framework for the recovery and resolution of banks and investment firms and Regulation (EU) No. 806/2014 (SRM Regulation) established the introduction of a resolution fund as of 2015. In 2016, this fund became a Single Resolution Fund (SRF) between the member States participating in the Single Supervisory Mechanism (SSM). The SRF is a resolution financing mechanism available to the resolution authority (Single Resolution Board). The latter may use this fund when implementing resolution procedures. In accordance with Delegated Regulation No. 2015/63 and Implementing Regulation No. 2015/81 supplementing the BRRD Directive on ex-ante contributions to financing mechanisms for resolution, the Single Resolution Board set the level of contributions to the Single ResolutionFund for 2021. The contributionspaid to the fund may be made in the form of cash guaranteedepositswhich are recorded as assets on the balance sheet (up to a maximum of 15% of the contributions called up) and contributions recognized in the income statement. Integration of foreign 2.12 Contributions to banking 2.13

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2021