NATIXIS_REGISTRATION_DOCUMENT_2017

6 ENVIRONMENTAL AND SOCIAL RESPONSIBILITY Internal mobilization and management of our direct impacts

Promoting a positive employee 6.4.3.2 experience To promote a positive employee experience, Natixis regularly supports and measuresemployeeengagement,monitorsquality of life in the workplace, and develops a diversity-inclusive approach.

risk-takersmay be deferred (from 40% to 60% for the highest amounts); Natixis also encourages its employees in France to contribute a to collective performance via incentives, profit-sharing and employee savings mechanisms (employee savings plan and collective pension plan). In 2017, Natixis subsidiaries encouraged their employees to take part in the ESR performance of their entities via their incentive agreements. The indicators used in these agreementsrange from reducing paper consumption to recycling to management of e-mail usage. Furthermore, in 2013, 2014, 2015 and 2016 Natixis gave its employees the opportunity to purchase Natixis shares under preferentialconditionsvia employeeshare ownershipoperations. A new employeeshare ownershipplan is currentlyunder review for fiscal year 2018. The compensation policy also incorporates the fundamental objectives of equality in the workplace and non-discrimination pursuedby Natixis.To this end, in its latest agreementon gender equality in the workplace,Natixis S.A. renewedits commitments to equal pay between men and women, and launched new measuresto improveefforts to decreasethe wage gap between men and women. In the US, compensationlevels and promotionlists are reviewed to ensure equal treatment. In Milan, Natixis monitors compensation with a view to promoting gender equality. In Madrid, a study was conducted on salary differences between men and women, which concluded that no gaps existed for equivalent positions. Lastly, in accordancewith UK law, Natixis Londonwill publisha report on genderpay gaps in 2018. Natixis also places great importance on the compensation of senior and junior employees. Informationon the compensationpolicy, especiallyfor employee categorieswhoseprofessionalactivitieshave a significantimpact on the risk profile of Natixis, is set out in the annual report on compensationpolicies and practices published each year before the GeneralShareholders'Meeting.

Employee engagement Compensation policy

Natixis’ compensationpolicy is structured in such a way as to promoteemployeeengagementover the long term and increase the Company's employer appeal, while discouraging excessive risk-taking. Each year, Natixis conducts a study comparing its compensation to the external market in a bid to maintain competitivecompensation. The compensation policy strictly complies with regulations in Natixis’ countries and sectors of operation, including CRD IV, SRAB (Separationand Regulationof Banking Activities),Volcker, AIFMD,UCITSV, MiFIDII and Solvency. It also meets transparency requirements vis-à-vis its external stakeholders,such as the ACPR, the ECB and the AMF, but also internal stakeholders. A compensation “logbook” gives Natixis employees in France an individualized view of their salary, additional forms of compensation,social security coverage, and employeesavingsplan for the previousyear. The compensationpolicy is centered on three componentsand reflectsboth individualand collectiveperformance: fixed compensationreflects, at the individual level, the skills, a responsibilitiesand expertise expected for a position, as well as the role and importanceof duties in the organization; variable compensation is granted where applicable, based on a the achievementof individual and collective targets. Pursuant to the various regulations in force, and to encourage performance over the long term, a significant portion of variable compensation granted to employees identified as

Scope:NatixisFrance(managedscope)

France

2017

2016

2015

Average gross annual compensation of staff under permanent contracts (excl. profit-sharing and employer contributions to the Company savings plan) (in thousands of euros)

80.8 51.2

79.9 45.9

80.3 32.4

Mandatory employee profit-sharing (in millions of euros) * Voluntary employee profit-sharing (in millions of euros) *

127.4

118.4

125.3

Total employer contribution paid in respect of the Company savings plan and the collective pension plan (PERCO) (in millions of euros)

40.5

38.8

35.6

*

Consolidated data at January 19, 2018

Within the scope of Natixis France (managedscope),the amount of profit-sharingper employee paid in 2017 in respect of 2016 averaged €2,367, the amount of incentives (voluntary profit-sharing) averaged €5,184, and the amounts of the contribution paid per beneficiary averaged €2,337 for the employee savings plan and €644 for the collective pension plan (PERCO).

Employee opinion survey All Natixis employees are asked to complete an internal survey every two years. Each survey gives rise to action plans implemented across the Company. Over 10,000 employees participatedin the last surveyconductedin late 2016. This survey was designedto measureemployeeengagementand the impact of HR policies, and to identify areas for improvement in the Companyas a wholeand specificto each entity.

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Natixis Registration Document 2017