NATIXIS_SHARHOLDERS_MEETING_2018

NATIXIS’ CODE OF CONDUCT

These guidelines are illustrated using examples that are representative of the activities and duties performed at Natixis. All the Natixis business lines and support functions are in charge of adapting, from an operational standpoint and with the assistance of the Compliance Department, the principles of the Code to the performance of their activities. AConduct Committee, comprisingmembers of Natixis’ SeniorManagement Committee, is in charge of the oversight and regular monitoring of matters

pertaining to the rules of conduct, including updates to the Code and deciding on complex cases. An escalation process is also in place to consult the Committee if required. The Code of Conduct does not, however, have a rule for every situation: it is the responsibility of each individual to exercise his or her personal judgment with regard to their duties. To do so, the following conduct checklist is provided:

CONDUCT CHECKLIST

While the Code of Conduct, as well as relevant internal policies and procedures, provide clear guidelines for behavior, not every situation that arises in day-to-day activities can be directly covered by a rule. Making the right decision will require personal judgment, taking account of Natixis DNA and the spirit of the Code of Conduct principles.

If you are unsure about the consistency of what you intend to do with the Code of Conduct guidelines, ask yourself:

WOULD I BE CONFORTABLE EXPLAINING THE DECISION TO A THIRD PARTY (supervisor, in court) OR READING ABOUT IT IN THE HEADLINES?

DOES IT COMPLY WITHOUR CULTURE PROMOTING THE BEST INTEREST OF THE CLIENT OVER THE LONG TERM?

HAVE I CONSIDERED ALL THE RISKS INVOLVED FOR NATIXIS OR GROUPE BPCE?

DOES IT COMPLY WITH THE LETTER OF OUR POLICIES & PROCEDURES?

yes

yes

yes

yes

IS IT LEGAL?

no ?

no ?

no ?

no ?

no ?

CODE

If the answer to one of these questions is no, or if you are unsure about it, please seek guidance from an appropriate authority: Ask for help from your line manager, or relevant teams (e.g., Compliance, Environmental and Social Responsibility (ESR), Human Resources, Legal).

Escalate to the relevant committee (ultimately to the Natixis Conduct committee)

All staff are required to complete mandatory training on the Code of Conduct and must each commit to complying with the rules. Managers and leaders also ensure that their teams understand and adhere to the Code of Conduct and to the internal policies and procedures ensuring its application.

The Code of Conduct is available on the Natixis website https://www. natixis.com/natixis/jcms/rpaz5_65435/en/code-of-conduct.

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NATIXIS 2018 MEETING NOTICE