NATIXIS_REGISTRATION_DOCUMENT_2017

5 FINANCIAL DATA

Parent company financial statements and notes

NET GAINS/(LOSSES) ON FIXED ASSETS

NOTE 31

2017

2016

(in millions of euros)

Long-term investments Investments in associates and other long-term investments

311 148

(182)

Gains Losses

17 (7)

(107)

Impairment charges

(21) 197

(238)

Reversals of impairment charges Provisions for risks and other expenses

27 (3) 22

(4) 98

Reversals of provisions for risks and other expenses

Securities held for investment

3 3 3

0 0

Gains

Property, plant and equipment and intangible assets

89

TOTAL

317

(93)

INCOME TAXES

NOTE 32

2017 (75)

2016

(in millions of euros)

Tax at standard rate Tax at reduced rate

(106)

(1)

Tax credits

3

4

Impact of tax consolidation

191 136

137 330

Other items (a)

Carry Back TOTAL

255 364 For 2016, including income relating to Natixis’ claim on the taxation in previous fiscal years of dividends and capital gains on the disposal of CCIs (a) as well as the impact of tax audits.

Natixis’ German subsidiary is currently subject to an audit covering the 2009 to 2014 fiscal years. A reassessmentnotice regarding the refund of withholding tax in respect of dividends and covering the 2009 fiscal year was received in December 2016. Natixis Germany intends to contest the proposedadjustment.

Tax calculation With some exceptions, the tax consolidation agreement at Natixis group is based on the principle of neutrality, whereby each subsidiary determines its tax and contributes to the group tax as if it were not consolidated. Any tax savings or expense generated by consolidation is recognizedby Natixisas the parentcompany. Any losses transferred to the parent company give rise to a provision for restitution of corporate tax, deemed to offset the additional group tax incurred if subsidiaries return to profit, and their tax contribution is decreased by the amount of prior year losses. Tax audits Natixis was subject to an audit covering the 2008 to 2013 fiscal years. Followingthis audit, Natixis S.A. receiveda reassessment notice dated December 19,2016. Natixis S.A. intends to contest the majority of the proposed adjustments and has recorded a provisionfor the estimatedrisk.

Settlement of ongoing litigation 2017

On October 6, 2017, the Constitutional Council declared Article L.235 ter ZCA of the French General Tax Code in its version resulting in Law No. 2015-1786 of the December 29, 2015 AmendedFinanceAct for 2015 to be unconstitutional.This Article introduced an addition 3% contribution on distributed earnings.Until 2016, the expenserelatedto this contributionwas recorded under the tax line for the period during which the payout decision was made. This amounted to €20.9 million for the 2016 fiscal year. In 2017, reimbursementsreceived for the 2012 to 2016 fiscal yearswere recognizedunder tax for a total of €105.6 millionplus intereston arrears.

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Natixis Registration Document 2017