NATIXIS_REGISTRATION_DOCUMENT_2017

5 FINANCIAL DATA

Consolidated financial statements and notes

Changes in consolidation scope since 3.2 January 1, 2017 The main changesin scopesince January 1, 2017are as follows:

On March 20, 2017, disposal by Natixis InvestmentManagers a of its holdings in IDFC Asset ManagementCompany Limited and IDFC AMC Trustee Company Limited. These holdings were previously held directly by NGAM Asia. As NGAM Asia was a holding company whose sole purpose was to carry Natixis Investment Managers Group’s shares in IDFC, the decisionwasmade to close this structureon March 27,2017. Following the restructuring of AEW Europe’s businesses in a France in the third quarter of 2017, NAMI AEW Europe and AEW EuropeSGPwere absorbedby AEWCILOGER. Changes in percentage of ownership In the first quarter of 2017, the ownership interest in DNCA a Finance, DNCA Courtage and DNCA Luxembourg fell from 75% to 72% following the increase in Société de Cadres’ percentageof ownershipin DNCAFinancefrom3% to 6%. The ownership interest in Euro Private Equity SA and Euro a Private Equity France increased from 80% to 94% following the acquisitionof an additional 14% of the share capital (10% in the second quarter of 2017 and 4% in the fourth quarter) in accordancewith the initial protocol agreement signed on the entity’sacquisition. The ownership interest in Ossiam rose from 64% to 83% a Following the restructuring of AEW Europe’s businesses in a France in the third quarter of 2017, Ciloger was renamedAEW CILOGER and AEWEuropewas renamedAEWSA. In the fourth quarter of 2017, NGAM (Natixis Global Asset a Management)changed its registered company name and the entity is now called Natixis Investment Managers. Consequently,all the entitiesbearingthe acronymNGAMhave changedname. In the fourth quarter of 2017, Banque Privée 1818 changed its a registered company name and is now called Natixis Wealth Management. 3.2.3 Newly consolidated entities Consolidationof the Selectiz fund in the third quarter of 2017 a after the percentageinterestrose aboveeligiblelevels. Consolidationof SCI Duo Paris in the third quarterof 2017. a Consolidationof the Selection Protection 85 and Selectiz Plus a FCP 4Dec funds after the percentage interest rose above eligiblelevels. Deconsolidated entities Deconsolidationof ABP AlternatifOffensifin the first quarterof a 2017 as the percentageinterestfell beloweligiblelevels. Changes in percentage of ownership The ownershipinterest in BPCE Assurancesrose from 60% to a 100% following the buyback of shares held by minority interests(MACIF and MAIF) in the fourth quarter of 2017. This acquisitionof additionalsharesalso had the effect of increasing the ownershipinterest in BPCE APS, which rose from 30% to 50%. Insurance followingthe buyoutof managers’shares. Changes in registered company names

3.2.1 Deconsolidated entities

Corporate & Investment Banking

Deconsolidation of Natixis Corporate Solutions Ltd as of a January 1, 2017 as the percentage interest fell below eligible levels. Liquidation of Nexgen Financial Holding Ltd. in the fourth a quarterof 2017. Changes in percentage of ownership The ownership interest in Natixis Partners decreased from a 92% to 84% following the award of free shares to executive officersin the fourthquarterof 2017. 3.2.2 Newly consolidated entities Acquisition of 52% of Investors Mutual Limited, an equities a fundmanager,on October 4,2017. Acquisition via Mirova of 51% of Althelia Ecosphère, which a specializes in natural capital investment, on October 9, 2017. After the transaction, Althelia Ecosphère was renamed Mirova-Altheliaand openeda branch in France. Consolidationof AEWEuropeGlobal Lux in the third quarter of a 2017. This previously non-consolidated interest was consolidated as part of implementing group AEW Europe’s seed money financing mechanism. Indeed, after La Banque Postale acquired a stake, this entity should bring in new seed money investments with funding from Natixis Investment Managersand LBP. Consolidation of the Purple Finance CLO 1 securitization a vehiclein the fourthquarterof 2017. Consolidationof the ASG Managed Futures and DNCA Archer a Mid-Cap Europe funds in the fourth quarter of 2017 after the percentageinterestrose aboveeligiblelevels. Opening of an Australian office of AEW Asia Limited, a a subsidiaryof AEWCapitalManagementin Hong Kong, in 2017. This entitywas consolidatedin the fourthquarterof 2017. The NAM activities dedicated to volatility management a products and structured products were carried to NAM Austerlitz 1, previously presented as investments in non-consolidated affiliates in Natixis IM’s consolidatedfinancial statements.As part of this transaction,NAM Austerlitz 1 was renamedSeeyondand is now a consolidatedentity. Deconsolidated entities Deconsolidation of the Ossiam Emerging Market Minimum a fund in the first quarter of 2017 as the percentageinterest fell beloweligiblelevels. Disposal during the first quarter of 2017 of two Private Equity a entities: Natixis Private Equity Caspian IA, LP and Natixis PrivateEquityCaspianIB, LP. Asset & Wealth Management

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Natixis Registration Document 2017