NATIXIS_REGISTRATION_DOCUMENT_2017

5 FINANCIAL DATA

Consolidated financial statements and notes

HEADCOUNT, PAYROLL COSTS, COMPENSATION

NOTE 11

AND EMPLOYEE BENEFITS

Headcount 11.1

12.31.2017

12.31.2016

Number

Headcount (a)

20,898

20,759

Full-time equivalent current employees of Natixis at the reporting date. (a)

An itemizedheadcountis shown in Note 6.3.1“Changein headcount”in Chapter6 “Corporatesocial responsibility”.

Compensation and employee benefits 11.2 Compensation and employee benefits include wages and salaries net of rebilled expenses paid within twelve monthsof the end of the reporting period in which the services were rendered, deferred cash-settled or equity-settled variable compensation, employee incentives and profit-sharing for the period, the cost of pensions, other employeebenefit obligations such as long-service awards and benefits related to capital increasesreservedfor employees. Payroll costs totaled€3,946 millionat December 31,2017 versus €3,726 millionat December 31,2016.

are expensed in the period in which the employees render the servicesgiving rise to such benefits.

Deferred compensation 11.2.2 Share-based employee retention and performance recognition plans Every year since 2010, Natixis has granted share-basedpayment plans to certain categoriesof staff. The accountingtreatment of these plans is describedin Note 5.17. Regarding the plan approved by the Board of Directors on February 13,2018, as these allocationshad not yet formallybeen carried out at the reporting date, these expenses have been estimated using best available estimates of inputs at the reportingdate. Coface has had share-basedcompensationplans in place since 2014. As the impact of these plans is not material for Natixis at the consolidatedlevel, the characteristicsof these plans are not outlined in the paragraphs that follow.

Short-term employee benefits 11.2.1

This item includeswages and salariespaid within twelvemonths of the end of the reporting period in which the related services were rendered, employee incentives and profit-sharing,meeting the definition of short-term benefits under IAS 19R “Employee Benefits”. In accordancewith this standard, short-termbenefits

Long-term cash-settled payment plans indexed to the Natixis share price

Number of units acquired by beneficiaries

Fair value of the indexed cash unit at the valuation date (in euros)

Year of plan

Grant date

Initial number of units granted*

Acquisition dates

October 2015 October 2016 October 2017 October 2016 October 2017 October 2018 March 2018 March 2019 March 2019 March 2020 March 2020 March 2021

1,682,810 1,610,145 1,468,937 1,576,403 1,449,399 -

2013 Plan

02.19.2014

5,095,419

2014 Plan

02.18.2015

4,493,016

6.37

2015 Plan

02.10.2016

6,084,435

6.11

2016 Plan

04.10.2017

2,835,311

5.47

2017 Plan

02.23.2018

2 660 487

5.34

The expected number of units at the vesting date is funded by equity swaps. *

Paymentsunder these plans are subjectto presenceand performancecriteria. As a reminder,at December 31,2016, followingchangesto the terms and conditionsof the 2015 employeeretentionand performance plan indexedto the value of the Natixis share, this plan was reclassifiedas an employeeretentionand performanceplan paid in Natixis free shares (see below) . The resultingimpactof this changerecognizedin profit or loss for fiscal year 2016 totaled€5.3 million.

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Natixis Registration Document 2017