NATIXIS_REGISTRATION_DOCUMENT_2017

1 PRESENTATION OF NATIXIS Natixis’ businesses

On the commoditiesand energymarkets , the GlobalMarkets Commodities (GMC) teams have, over the past three years, developeda selective range of flow products and base metals, precious metals and energy solutions for corporate and sovereign clients that specialize in these markets. Accordingly, Natixis has adopted a model that is resolutely focused on its clients in Asia, the Americas and Europe, and founded on the development of tailored and innovative solutions that meet clients’ risk management and financing needs. This approach leverages the expertise of the teams on the derivatives markets, combined with that of the financing and economic researchteams. Under the plans to establish sector-based teams, the GMC businesswill, in 2018, becomea joint venturebetweenthe new Energy & Natural Resources businessline and Global Markets. The objective is to enhance commercial efficiency in the marketingof commoditiesproductsand increasesynergieswith clients. Treasury and collateral management In compliance with the French law on the separation and regulation of banking activities, the Treasury and Collateral Management team, which used to report to Global Markets, was placedunder the oversightof the FinanceDepartmentfrom April 1, 2017. A functional reporting line is maintainedwith the Global Head of Global Markets and the functional link with the Chief FinancialOfficercontinues. Equity markets On the cash equity market , Natixis is positioned as a Europe-wide broker specializing in the French market, combininga full range of expertiseincludingresearch,sales and value-added execution products. In 2017, Natixis was voted No. 3 broker in France (up from fifth place in 2016) and No. 1 by French investors in the Extel 2017 survey of 20,000 European investors. In December 2017,Natixisand ODDOBHF announcedplans for a long-term partnership on the equity markets, which would result in the transfer of Natixis’ equity brokerage activities in France to ODDO BHF in order to create a leading player in continentalEurope. On the equity derivatives market , Natixis offers integrated servicesthat addressthe goals and constraintsof clientsand are based on seven pillars: equity investment solutions, equity finance, algorithmicindexes, legal arrangementsand regulatory solutions, fund solutions, hybrid products and Alternative Risk Transfer activities. The bank caters to insurers, pension funds, asset managers,hedgefunds,privatebanks,familyoffices,bank and insurance distribution networks and wealth management advisors. In 2017, the equity derivativesbusiness grew substantiallyand boostedproductivityandmarketshare.Thesepositiveresultsare the result of an expanded range of solutions, intensified customerrelationsand the growingindustrializationof our digital solutions, including training platforms such as Massive Online Open Courses (MOOC) for our distributor clients, the E-MAPS pricing platformand the E-TRANSACportfoliomanagementtool for the secondary market. This performance also reflects the trading team’s capacity to implementoptimal risk managementunder which, in 2017, the

equity derivativestradingbusinesswas restructuredto allow for the management of index and equity positions within two separate books. This new structure is fully in line with Global Markets’ strategy to develop innovative, tailor-made solutions for clients, while securingthe trading books’ current exposures. By optimizing the recycling of solution book risks, the new structure encourages the development of Alternative Risk Transfer solutions that give targeted clients (institutionalclients and hedge funds) privileged access to alternative asset class performancedrivers. Natixis received a number of prestigious awards in 2017, underlining the dynamism and expertise of the equity derivatives teams. It was named “Most Innovative Investment Bank for Equity Derivatives” by The Banker magazine for the second year in a row (InvestmentBanking Awards 2017) . This internationalrecognitionillustratesthe bank’s ability to generate innovative solutions tailored to the market environment, evolving regulationsand the needs of clients, such as solutions incorporatingsystematic strategies for equity portfolio hedging and investment solutions based on new market indices in Europe (Euronext, Stoxx, FTSE Russell, Standard & Poor’s and Sol active) and in Asia and the Americas. In Asia, after two years’ collaborationwith Natixis, the Korea Exchange launched its first index designed for structured products. In the United States, the New York teams participated in the creation of the new Nasdaq-100 Target 25 Excess Return index. The collaboration with the Asian and US teams has given Natixis access to exclusive operating license for these two indices, demonstrating the bank’s expertise in innovative investment solutions. Global Securities Financing: a joint venture between Fixed Income and Equity Derivatives Created in late May 2017, Global Securities Financing is a new entity formed mainly from the merger of the Equity Finance (Equity Derivatives) and Securities Financing group (Fixed Income) teams. It aims to promote dialog with our clients in order to provide them with multi-underlyingand multi-product solutions. With teams in Paris, London, Frankfurt, New York, Hong Kong and Tokyo, Global Securities Financing’s primary areas of expertise are collateralized funding and collateral management (repos, securities lending/borrowing, etc.), repo market-making and credit and sovereign securities lending/borrowing,and index (equity) market-makingas well as a solutions department.The pooling of expertise facilitates the developmentof hybrid solutions as well as innovativeproducts such as the Zephyr Max Violet Note, the alternativeinvestment solutionvoted Deal of the Year, APACby AsiaRisk (source:SRP Asia PacificAwards2017) . The new team also helps the bank adapt to changes in the market and regulatory constraints (relating to balance sheet, LCR, RWA, etc.), and provides an overview of the bank’s assets, mainly equities and fixed income (collateral) in order to managethemmore efficientlyand comprehensively. A recognized leader on the share lending/borrowingmarket, Natixis was named “2017 Best Equity Borrower Globally” (Group 2) and “Best Equity Borrower (Group 2): Relationship Management” for the fourth consecutive year by specialist magazine Global Investor/ISF (source: Equity Lending Survey 2017 — Global Investor/ISF — The survey distinguishes between Group 1 and Group 2 based on the volume of transactionsprocessed) .

18

Natixis Registration Document 2017