NATIXIS - Universal registration document and financial report 2019

FINANCIAL DATA Consolidated financial statements and notes

Market risk, overall interest rate risk, liquidity risk and structural foreign 11.3 exchange risk The disclosures on the management of market risk, overall interest rate risk, liquidity risk and structural foreign exchange risk required under IFRS 7 are presented in Section 3.2.7 of Chapter 3, “Risk factors, risk management and Pillar III”.

Headcount, payroll costs, compensation and employee Note 12 benefits

12.1

Headcount

Short-term employee benefits 12.2.1 This item includes wages and salaries paid within twelve months of the end of the reporting period in which the related services were rendered, employee incentives and profit-sharing, meeting the definition of short-term benefits under IAS 19R “Employee Benefits”. In accordance with this standard, short-term benefits are expensed in the period in which the employees render the services giving rise to such benefits.

Number

31/12/2018

31/12/2019

Headcount (a) 21,652 Full-time equivalent current employees of Natixis at the reporting date (a) (including 1,989 employees of entities restated under IFRS 5 at December 31, 2018). 19,639

Deferred compensation 12.2.2 Share-based employee retention and performance recognition plans

The breakdown of the headcount is presented in Note 6.4.3 of Chapter 6, “Non-financial performance report”.

Every year since 2010, Natixis has granted share-based payment plans to certain categories of staff. The accounting treatment of these plans is described in Note 6.17. Regarding the plan approved by the Board of Directors on February 6, 2019, as these allocations had not yet formally been carried out at the reporting date, these expenses have been estimated using best available estimates of inputs at the reporting date, both in respect of the value of the share and dividend assumptions. Natixis subsidiaries may also implement share-based payment plans based on their own shares. Taken individually, the impact of these plans is not material for Natixis at the consolidated level. As such, their characteristics are not outlined in the paragraphs that follow.

12.2

Compensation and employee

benefits Compensation and employee benefits include wages and salaries net of rebilled expenses paid within twelve months of the end of the reporting period in which the services were rendered, deferred cash-settled or equity-settled variable compensation, employee incentives and profit-sharing for the period, the cost of pensions, other employee benefit obligations such as long-service awards and benefits related to capital increases reserved for employees. Payroll costs totaled €3,980 million at December 31, 2019, versus €4,061 million at December 31, 2018.

5

Long-term cash-settled payment plans indexed to the Natixis share price

Fair value of the indexed cash unit at the valuation date (in euros)

Number of units acquired by beneficiaries

Initial number of units granted*

Year of plan

Grant date

Acquisition dates

October 2016 October 2017 October 2018 March 2018 March 2019 March 2019 March 2020 March 2020 March 2021 March 2021 March 2022 March 2022 March 2023

1,576,403 1,449,399 1,298,335 1,081,907 1,787,527

2014 plan

18/02/2015

4,493,016

6.37

2015 plan

10/02/2016

6,084,435

6.11

868,417

2016 plan

10/04/2017

2,835,311

5.47

2017 plan

23/02/2018

2,660,487

5.34

2018 plan

26/02/2019

3,260,945

2.72

2019 plan

22/01/2020

3,576,462

2.22

The expected number of units at the vesting date is funded by equity swaps. *

Payments under these plans are subject to a continued service requirement and performance criteria.

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2019