NATIXIS_REGISTRATION_DOCUMENT_2017

PRESENTATION OF NATIXIS Natixis’ businesses

Global finance 1.5.2.2 Global Finance encompasses advisory, origination, arrangement and syndication activities of structured financing in four sectors (aviation, exports and infrastructure, real estate, energy and commodities), as well as active portfolio management for all the vanilla and structured financing that forms the basis of the O2D (Originate to Distribute) value chain. Following on from 2016, the reinforcement of the O2D model in 2017 has helped accelerate balance-sheet rotation and improve capacity to serve clients, as reflected by the sharp increase in business levels despite increased regulatory constraints and steeper competition. Natixis topped the league tables in a number of categories in 2017, including No. 1 bookrunner for syndicated real estate finance in the EMEA region ( source: Dealogic, EMEA Real Estate Loans report at December 31, 2017), No. 6 MLA for infrastructure finance in Europe and No. 10 globally ( source: IJ Global at December 31, 2017). In October 2017, Natixis launched a Global Finance restructuring project as part of the New Dimension strategic plan, and in order to capitalize on its international, multiple business line expertise across four sectors. The project leads to the creation of two dedicated business lines: Energy & Natural Resources and Real Assets (see above) . At the same time, and in order to further consolidate the O2D model, the Global Portfolio Management business line is expected to incorporate syndication transactions and step up its role in the active management of the loan book. Aviation, export and infrastructure finance Natixis’ offering in aviation, export and infrastructure finance combines its advisory expertise in financial, arrangement, structuring, agent and distribution services. The team is developing optimized financing solutions in both banking and institutional markets. Drawing on its leading position in infrastructure and aerospace debt vehicles, Natixis consolidated its platform devoted to institutional clients to allow them to invest in this asset class through partnerships. There are currently seven partners on the platform, with an investment capacity of €5.4 billion. Infrastructure financing saw sustained business activity in the three international platforms and across all asset types — particularly in renewable energy, where Natixis is continuing its mobilization efforts in support of energy transition. Natixis is ranked No. 1 in the Middle East (source: IJ Global) after financing of the largest PV power park in the world, Sweihan in Abu Dhabi, and the Mohammed Bin Rashid Al Maktoum solar park in Dubai. In the environmental sector, it is also financing the expansion of the Shuaibah seawater desalination plant in Saudi Arabia. Natixis remains highly active in renewable energy in Europe: for example, it has issued the first project bond in the wind power sector in Italy for Glennmont Partners, and in Asia (wind and solar financing). It also arranged financing in the form of a €400 million high-yield bond for Senvion, one of Europe’s leading wind turbine manufacturers. In Canada, it refinanced the Illumination, Glenarm and Goldlight solar power plants on behalf of DIF Infrastructure.

CVA/DVA desk Global Markets has a centralized XVA management desk (CVA/DVA/FVA). Its core responsibilities are to measure and manage XVA exposures and hedge the main risks generated by these exposures. Research Research complements Natixis’ sales strategy. Every day, the Research function publishes analyses to guide clients in their investment decisions and contributes to creating financial solutions tailored to clients’ needs. Global Markets research has developed recognized expertise in the following areas: equity research, SRI (socially responsible investment), credit and macroeconomic research, investment strategies, and commodities, fixed income and forex research. In 2017, the team pursued its research across all asset classes to provide clients with an increasingly wide market perspective. The research function received a number of awards recognizing the expertise of its teams and their commitment to clients: “Best 2017 commodities and energy researcher” (source: a Energy Risk Awards 2017) ; “Best Credit Research in the Covered Bonds, Distribution and a Consumer Goods, Supranationals & Agencies and Utilities categories” and No. 5 in Fixed Income Research 2017 (source: Euromoney Fixed Income Research Survey 2017) ; No. 1 for equity research in France, including 11 awards in a seven different sectors: Food & Beverages, Automotive, Retail & Consumer Products, Construction, Energy & Chemicals, Healthcare, Utilities (source: Thomson Reuters Analyst Awards 2017) ; No. 2 in SRI/ESG research in Europe in 2017 (source: Extel a 2017) and No. 3 in credit research in the ESG/green bonds category in 2017 (source: Euromoney Fixed Income Research Survey 2017) . During 2017, the research teams came together to address the implications of MiFID II, which came into force on January 3, 2018. Aimed at increasing the transparency of the financial markets and stepping up investor protection, this directive requires EU companies providing portfolio management or other investment services to separate trading commissions from the cost of accessing research. As of early 2018, clients will be charged for access to research so that it cannot be considered an inducement. Over the course of 2017, the teams structured and priced the research offer, and met with eligible clients to make them aware of Natixis’ research offering. To facilitate customer compliance, the level of security for access to publications and to the Global Markets research website has been increased for all Natixis clients, while enhancing the user experience of the website. In December 2017, Natixis and ODDO BHF announced plans for a long-term partnership in order to create a continental European leading player in the equity markets. This partnership will result in the transfer of Natixis’ equity research activities in France to ODDO BHF. Quantitative research contributes to the adaptation of our offering on the capital markets. It supports the bank’s financial innovation process and ensures that it remains competitive in today’s fast-changing markets. Its teams help develop pricing and risk management models and quantitative asset allocation strategies.

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Natixis Registration Document 2017