NATIXIS_REGISTRATION_DOCUMENT_2017

FINANCIAL DATA Consolidated financial statements and notes

3.2.4 Newly consolidated entities

SCI Champs-Elysées, SCI La Boétie and SCI Saccef were a deconsolidated in the fourth quarter of 2017 after the percentageinterestfell beloweligiblelevels.

Specialized Financial Services

The holding company Natixis Paiement Holding was a consolidated in the first quarter of 2017. This company holds the entitiesin Natixis’Paymentsbusiness. Acquisition of 51% of S-Money and 85% of its subsidiary a Lakooz, which specialize in new payment methods, on February 9, 2017. The remaining 49% of S-Money was acquiredon October 30,2017, taking the ownershipinterestto 100%. The remaining 15% minority stake in Lakooz was acquiredon November 10,2017, taking the ownershipinterest in the companyto 100%. Acquisition of 79% of PayPlug, which also specializes in new a paymentmethods,on April 3,2017. Acquisitionof 54%of DalenysSA on October 31,2017. a Acquisition of 95% of Bati Lease, a real estate leasing a company, on October 2, 2017. An additional 2% stake was purchased from minority shareholdersin the fourth quarter of 2017, taking the ownershipinterestin the companyto 97%. Acquisition of 100% of Inter-Coop, a real estate leasing a company,on October 2,2017. Restructuring Natixis Consumer Finance IT was absorbed by Natixis a Financement through a total transfer of assets and liabilities (TUP) on April 30,2017. Natixis Consumer Finance was absorbed into Natixis S.A. by a total transferof assetsand liabilitieson April 30,2017. Deconsolidated entities Liquidation of the securitization vehicle Nordri on June 19, a 2017.

Coface 3.2.5 Changes in percentage of ownership

In the first quarter of 2017, Coface’s ownership interest in a Coface Central Europe Holding increased from 75% to 100% following the reimbursement of capital to minority shareholders. This transaction modified the ownership interestsin CofacePolandCMS and CofaceRomaniaCMS. 3.2.6 Deconsolidated entities Disposalof IJCOFCorporate onApril 7,2017. a Disposalof Ellisphere onApril 13,2017. a Restructuring Natixis HCP was absorbed into Natixis S.A. by total transfer of a assetsand liabilitieson June 27,2017. Corporate Center

5

Interests in subsidiaries 3.3

Material non-controlling interests 3.3.1 At December 31,2017, the main materialsubsidiaryin which the group had a non-controlling interest was Coface. At December 31, 2017, the main subsidiaries in which the group had a non-controlling interest were Coface and BPCE Assurances.

At December 31, 2017

12.31.2017

Non-controlling interests

Concise financial information about entities

(in millions of euros)

Income attributable to the owners of non-controlling interests over the period

Percentage control of non-controlling interests (if different)

Amount of non-controlling interests in the subsidiary

Dividends paid to the owners of non-controlling

Percentage interest in non-controlling interests

Total debt (liabilities - equity)

Place of establishment

Net income

Total income

Name of entity

interests Total assets

Coface

France

58.62%

58.62%

33

1,082

12

7,360

5,554

83

76

H2O

Great Britain

49.99%

49.99%

83

89

28

256

78

167

165

Other entities

76

20

39

TOTAL

192

1,192

79

At December 31, 2016

12.31.2016

Non-controlling interests

Concise financial information about entities

(in millions of euros)

Income attributable to the owners of non-controlling interests over the period

Percentage control of non-controlling interests (if different)

Amount of non-controlling interests in the subsidiary

Dividends paid to the owners of non-controlling

Percentage interest in non-controlling interests

Total debt (liabilities - equity)

Place of establishment

Net income

Total income

Name of entity

interests Total assets

Coface

France

58.67%

58.67%

8

1,082

44

7,061

5,301

42

58

BPCE Assurances

France

40.00%

40.00%

23

165

8

1,833

1,420

59

66

H2O*

Great Britain

49.99%

49.99%

29

35

55

107

37

58

52

Other entities*

30

13

4

TOTAL

90

1,296

111

H2O data have been added since the disclosure made in 2016. *

219

Natixis Registration Document 2017