NATIXIS - Meeting notice combined general shareholder's meeting

MANAGEMENT REPORT AT DECEMBER 31, 2018

Operating expenses were up €66Ʉmillion, including -€4Ʉmillion in payroll costs, +€33Ʉmillion in external services net of reinvoicing and +€37Ʉmillion in regulatory taxes and costs (including +€42Ʉmillion for the contribution to the Single Resolution Fund). Changes in external services were mainly concentrated in external services provided by Group companies (+€15Ʉmillion, net of rebilled expenses), consulting fees (-€8Ʉmillion) and external assistance fees (+€28Ʉmillion). The net provision for credit losses was down €20Ʉ million (of which -€25Ʉmillion for the branches) to -€228Ʉmillion. Together, these items brought operating income to +€1,532Ʉmillion, up €426Ʉmillion. At DecemberɄ31, 2018, net gains/(losses) on fixed assets amounted to +€33Ʉmillion. The balance for fiscal year 2018 is mainly attributable to the €151Ʉmillion capital gain earned on the NUSHI share swap, a €71Ʉmillion provision over the fiscal year for Contango Trading S.A. shares and a €69Ʉmillion provision for Natixis Factor. The balance for fiscal year 2017 was attributable to the capital gain earned on the disposal of CACEIS securities for €84Ʉmillion before tax and to the downward adjustment of the provision recorded on Coface equity investments (reversal of provision of €111.9Ʉmillion). Net income after tax was +€1,834Ʉmillion versus +€1,678Ʉmillion in 2017. At DecemberɄ31, 2018, the balance sheet totaled €406,868Ʉmillion versus €410,598Ʉmillion at DecemberɄ31, 2017. PROPOSED ALLOCATION OF¢EARNINGS Natixis’ financial statements at DecemberɄ 31, 2018, showed positive net income of €1,834,308,793.77 and, taking into account retained earnings of €1,625,059,649.69, showed distributable earnings of €3,459,368,443.46. The third resolutionɄ that will be put before the General Shareholders’ Meeting on MayɄ28, 2019, proposes to: › pay an ordinary dividend of €945,086,577.60; › pay a special dividend of €1,512,138,524.16; › allocate the remaining distributable earnings to retained earnings, i.e. €1,002,143,341.70.

POST CLOSING EVENTS Refer to NoteɄ 15, “Post-Closing Events”, in ChapterɄ 5.1, Consolidated Financial Statements and notes. Natixis’ 2018 financial statements were approved by the Board of Directors on FebruaryɄ 12, 2019. Since that date, there have been no material changes in the financial or trading position of Natixis. INFORMATION CONCERNING NATIXIS S.A. NATIXIS¢S.A.’S PARENT COMPANY INCOME STATEMENT At DecemberɄ 31, 2018, Natixis’ gross operating incomeɄ stood at +€1,760Ʉmillion, a +€406Ʉmillion increase compared with DecemberɄ31, 2017, due to a €472Ʉmillion increase in net revenues, less a €66Ʉmillion increase in operating expenses. Net interest income decreased by -€148Ʉ million: -€160Ʉ million for business in Mainland France and +€12Ʉ million for foreign branches. Net fee and commission income decreased by -€170Ʉmillion, resulting from a -€247Ʉmillion decrease in Mainland France and an increase of +€77Ʉ million in business recorded by foreign branches. This change in fee and commission income can be broken down into -€238Ʉmillion in net fee and commission income on off-balance sheet transactions, +€86Ʉmillion on transactions with customers and -€18Ʉmillion in financial service or payment instrument transactions. Dividends paid by Natixis subsidiaries increased by €756Ʉ million. €663Ʉ million of this increase can be attributed to the higher dividend paid by Asset Management subsidiary Natixis Investment Managers, €42Ʉ million to the higher dividend paid by subsidiary Compagnie Européenne de Garanties et Cautions and a €33Ʉ million increase on behalf of Natixis Private Equity. Gains on trading book transactions decreased by €113Ʉ million, i.e. -€100Ʉ million for Mainland France and -€13Ʉ million for transactions carried out by foreign branches.

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NATIXIS 2019 MEETING NOTICE