NATIXIS - Universal registration document and financial report 2019

FINANCIAL DATA Consolidated financial statements and notes

Goodwill 8.12 At December 31, 2019

31/12/2019

01/01/2019

Acqui- sitions during the period Disposals

Trans- lation adjust- ments

Transfers to equity method

Write- downs

Reclassi- fications

Other changes

Closing balance

Opening balance

(in millions of euros)

Asset & Wealth Management (a)

3,136

42

(2)

30

31

(1)

3,235

Corporate & Investment Banking (b)

129

11

4

144

Insurance

93

93

Payments (c)

0

10

126

137

Specialized Financial Services (d) Financial Investments

157 281

(157)

(0)

1

282

Other activities

(0)

(0)

TOTAL 3,891 Of which +€42.1 million in goodwill recorded on the acquisition of Massena Partners. In addition, a goodwill adjustment of -€1.0 million for MV Crédit was made (a) within the one-year allocation period. Of which +€11.4 million in goodwill recorded on the acquisition of Azure Capital Holdings Pty Ltd. (b) Of which +€10.2 million in goodwill recorded on the acquisition of Titres Cadeaux. (c) The disposal of the SFS division’s retail banking entities also altered the presentation of the Natixis CGUs. Within the former SFS CGU, the Payments entities (d) now belong to the “Payments” CGU. The Group reallocated €126 million in goodwill to the Payments CGU, predominantly comprising goodwill recognized on the recent fintech acquisitions in the aforementioned business lines. Natixis Interépargne was reassigned to Asset & Wealth Management (€31 million in “historical” goodwill reallocated). 3,796 64 (2) 0 34 0 0 (1)

5

Furthermore, goodwill on entities consolidated using the equity method amounted to €3.4 million at December 31, 2019. Certain goodwill recorded for the United States gives rise to a tax amortization over 15 years due to the difference between the

carrying amount of the goodwill and its tax value. This difference in treatment generated a deferred tax liability of €346.6 million as at December 31, 2019.

At December 31, 2018

01/01/2018

31/12/2018

Acqui- sitions during the period

Trans- lation adjust- ments

IFRS 5 alloca-

Transfers to equity method

Opening balance

Write- downs

Reclassi- fications

Other changes

Closing balance

(in millions of euros)

tions Disposals

Asset & Wealth Management (a)

2,986

123

0

(27)

0

63

0

0

(10)

3,136

Corporate & Investment Banking (b)

77 93

47

0 0

0 0

0 0

4 0

0 0

0 0

0 0

129

Insurance

0

93

Specialized Financial Services (c) Financial Investments

161 281

20

(27)

0 0 0

0 0 0 0

0

0 0 0 0

0 0 0 0

2 0 0

157 281

0 0

0 0

(0)

Other activities

0

0

(0)

TOTAL 3,796 Of which +€122.7 million of goodwill recorded on the acquisition of MV Crédit and -€27 million for the disposals carried out: -€19 million for Axeltis (a) and -€8 million for Selection 1818. In addition, a goodwill adjustment for Investors Mutual Limited (-€9.6 million) and Mirova Althélia (-€0.2 million) was made within the one-year allocation period. Of which +€10.8 million in goodwill recorded on the acquisition of Vermilion and +€36.6 million on the acquisition of Fenchurch. (b) Of which +€20 million in goodwill recorded on the acquisition of Alter CE (Comitéo). A reclassification in the “Financial assets held for sale” aggregate was also (c) recognized in accordance with IFRS 5 in the amount of -€27.5 million: -€9.5 million for Natixis Financement, -€12.2 million for CEGC, -€5.2 million for Midt Factoring and -€0.6 million for Natixis Factor. 3,601 190 (27) (27) 67 (8)

323

www.natixis.com

NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2019