NATIXIS - Universal registration document and financial report 2019

5 FINANCIAL DATA

Consolidated financial statements and notes

Capital management Note 13

13.1

Share capital

Capital (in euros)

Ordinary shares

Par value

Number of shares

At January 1

3,150,288,592

1.60 1.60

5,040,461,747

Capital increase AT DECEMBER 31

2,789,890

4,463,824

3,153,078,482

5,044,925,571

There were 2,083,199 treasury shares at December 31, 2019, and 3,716,978 shares at December 31, 2018. The capital increase (in the first half of 2019) corresponds to the allocation of bonus shares to certain Natixis employees under the 2016 and 2017 share-based payment Retention and Performance Plans. 13.2 Natixis’ main capital management objectives are to ensure that the Group meets the capital requirements imposed by its external environment and maintains an adequate rating to support its activity and maximize shareholder value. Natixis adapts the management of its capital structure in line with changes in economic conditions and in the risk profile of its operations. Its objectives, policies and procedures remained unchanged in 2019. Capital management and preference shares In accordance with IAS 32, issued financial instruments are classified as debt or equity depending on whether or not they incorporate a contractual obligation to deliver cash to the holder. Since December 31, 2009, issues of perpetual deeply subordinated notes and preference shares have been recognized as equity instruments issued in accordance with a clause concerning dividend payments which has become discretionary, and have been booked to “Consolidated reserves” in the consolidated balance sheet. The conversion of these debt instruments into equity instruments had generated a gain of €418 million recognized in income on June 30, 2009. Equity instruments issued 13.3 Perpetual deeply subordinated notes 13.3.1

Issues after June 30, 2009 were always classified as equity given the discretionary nature of their interest. Deeply subordinated notes amounted to €1,978 million at December 31, 2019 (no change compared to December 31, 2018). Note that the gross amount of exchange rate fluctuations in deeply subordinated notes in foreign currencies recorded in income at December 31, 2019 amounted to +€19 million, or €14.3 million after tax, compared with €47.8 million at December 31, 2018, or €33.9 million after tax. The main features of the perpetual deeply subordinated notes are outlined in Chapter 14 of the Pillar III report. 13.3.2 Natixis entered into a liquidity contract with an independent service provider, and in accordance with the Compliance Charter established with the French Financial Markets Association (Association des Marchés Financiers) on September 23, 2008, approved by the Autorité des Marchés Financiers on October 1, 2008. Under this contract, this service provider is mandated to intervene in Natixis’ treasury shares with a view to increasing transaction liquidity and the trading of Natixis shares so as to avoid price gaps unjustified by market trends. This authorization is based on the twenty-fourth resolution of the General Shareholders’ Meeting of May 28, 2019. It authorizes Natixis to acquire, at a maximum price of €10 per share, a number of shares not exceeding 10% of the shares making up the capital of Natixis. Pursuant to this contract, Natixis has 1,981,426 shares, representing €7.9 million as of December 31, 2019, compared to 3,566,311 shares, representing €14.7 million, at December 31, 2018. Management of the liquidity contract

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2019