NATIXIS - Universal registration document and financial report 2019

1 PRESENTATION OF NATIXIS Natixis’ businesses

Natixis also led several prestigious transactions on the emerging, sovereign, supranational and agency markets, including bond issues by the Kingdom of Morocco (€1 billion), the Sultanate of Oman ($3 billion), the Arab Republic of Egypt ($2 billion), the European Investment Bank (€3 billion), the European Financial Stability Facility (€1 billion), the Belgian State (€6 billion) and the Government of Quebec (€1 billion), which was a first-time mandate for Natixis. Lastly, Natixis headed up the World Bank’s inaugural EUR issue (€1.25 billion). Equity capital markets On the equity capital markets (ECM), Natixis provides clients with tailored advisory services for all transactions that affect their capital structure: IPOs, capital increases and convertible or exchangeable bond issues. It develops advisory services for public tenders or exchange offers, and maintains a corporate broking business that offers clients intermediation services for acquisitions and disposals on the equity market, share buybacks and liquidity contracts. In 2019, business was brisk on the equity capital markets in France, and Natixis furthered its development in the EMEA region in particular by leading multiple large-scale transactions. On the IPO market, despite relatively low volumes and a very small number of deals, Natixis was Française des Jeux’s global coordinator for France’s largest IPO of the decade (€1.9 billion) and first privatization in 15 years. It also took part in its first IPO in Saudi Arabia as joint bookrunner for Arabian Centres. Natixis drew on its expertise to participate in France’s largest capital increase of the year (€711 million) as global coordinator for Tikehau Capital. It also conducted several landmark deals in Europe, acting as global coordinator for Salini Impregilo in Italy, and organizing private placements in Belgium for real estate specialists Warehouses de Pauw (WDP) and Xior Student Housing. On the convertible bond market, Natixis consolidated its franchise by significantly expanding its business, notably via a series of convertible bond issues for Air France KLM, Atos, Orpea and Veolia. It also served as global coordinator for the maiden issues of two fast-growing global groups: Neoen and Worldline. Natixis recorded a very strong performance in corporate broking, improving on 2018. Natixis acted as presenting bank in the takeover bids by investment fund CVC on April Group and US fund Searchlight on Latecoere Group. Natixis ODDO-BHF entered into a liquidity agreement with Iliad. Natixis is ranked No. 3 bookrunner by number of deals and No. 4 by amount in EUR on the equity capital markets (vs. No. 3 and No. 8 in 2018, No. 4 and No. 9 on 2017) in France (source: Bloomberg) . Equity-linked finance The Strategic Equity Transaction team, which specializes in equity-linked finance, designs solutions to help clients manage their equity positions (equity stakes, treasury shares, investments). The team uses financing tools, derivatives or any other financial instrument in the interest of Natixis’ French and international clients.

It develops a tailored structuring approach and offers clients a comprehensive range of solutions, including the acquisition of securities on the market, the financing of equity investments or economic exposures, the optimization of equity investment management and the establishment of share buyback programs. The Strategic Equity Transaction team, renowned for its innovative and bespoke solutions, served as co-lead manager and co-bookrunner in the acquisition of Daimler AG shares by BAIC Group via a €2.2 billion syndicated loan. This advisory business activity consists of analysing financial structures and credit rating issues for Natixis’ corporate and financial institution clients. Its goal is to define the most appropriate equity and debt-based financing solutions for its clients. Given the internationalization and increasing disintermediation of capital markets, clients rely more on ratings, giving this business line increasing strategic importance. It applies its rating advisory expertise to analyze and optimize the impact of major events on clients’ ratings, and can even help clients obtain their first rating. 1.2.2.4 Natixis’ mergers and acquisitions (M&A) teams help large and medium-sized commercial and industrial enterprises, institutional investors and investment funds prepare and execute disposals and mergers, fund-raising, restructuring and capital protection. In 2019, Natixis further strengthened its advisory activities by making a strategic investment in Azure Capital. With this Australian boutique, specializing in infrastructure, energy and natural resources, Natixis expanded its international network of seven boutiques already including Natixis Partners (France), Natixis Partners España (Spain), PJ SOLOMON (United States), Fenchurch Advisory (United Kingdom), Vermilion Partners (China) and Clipperton (France), Multiple large-scale international deals were conducted throughout the year. In France, Natixis advised Swiss Life on its acquisition of a portfolio of 28 prime assets from Terreis for €1.7 billion. In the United States, PJ SOLOMON advised Banijay Group on its acquisition of Endemol Shine Group, formerly co-owned by Disney/Fox and Apollo Global Management. In the United Kingdom, Fenchurch Advisory advised Swiss Re on the sale of its UK division, Reassure, to Phoenix Group for £3.25 billion. In Asia-Pacific, Vermilion Partners advised C. Banner International Holdings Limited on the sale of Hamleys Global Holdings. Also in the Asia-Pacific region, Natixis advised the shareholders of APM Monaco on the sale of 30% of their shares in a consortium led by TPG. In France, Natixis Partners ranks No. 5 by number of deals (source: L’Agefi & Mergermarket) , and more specifically No. 3 by number of deals with midcaps (source: L’Agefi) . Financial structure and rating advisory services Mergers and acquisitions

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2019