NATIXIS_REGISTRATION_DOCUMENT_2017

FINANCIAL DATA Consolidated financial statements and notes

At December 31, 2017

12.31.2017 Securitization Asset Management

Total

(in millions of euros)

Revenues drawn from the entities

- - - -

184

184

Revenues net of interest

2

2

Revenues net of fees and commissions

178

178

Net gains or losses on instruments at fair value through profit or loss Book value of the assets transferred from the entity over the year  (a) 2,365 The book value of assets transferred to these vehicles corresponds to assets sold by Natixis during 2017, where the information on the sold (a) amounts by all investors is not available. 5 5 2,365 -

At December 31, 2016

12.31.2016 Securitization Asset Management

Total

(in millions of euros)

Revenues drawn from the entities

- - - -

230

230

5

Revenues net of interest

3

3

Revenues net of fees and commissions

214

214

Net gains or losses on instruments at fair value through profit or loss Book value of the assets transferred from the entity over the year  (a) 1,797 The book value of assets transferred to these vehicles corresponds to assets sold by Natixis during 2016, where the information on the sold (a) amounts by all investors is not available. 14 14 1,797 -

Financial support to structured entities 4.4 Natixisdid not grant any financialsupportto consolidatedor non-consolidatedstructuredentities.

ACCOUNTING PRINCIPLES AND VALUATION METHODS

NOTE 5

Financial assets and liabilities 5.1 (excluding derivatives)

for which there is evidence of a recent actual pattern of short-termprofit taking. Securities valued under this option fall into one of the following three categories: hybrid instruments that contain one or more significant and a separableembeddedderivativefeatures; instrumentsbelongingto a group of financialassets valued and a managedon a fair value basis; instruments that present an inconsistency in accounting a treatmentwith a relatedfinancialliability. As stated in Note 2.2.3, Natixis has elected to use the option provided by IAS 28 and IAS 31, i.e. not to account for interests held by Private Equity subsidiaries using the equity method if they are designated as “Financial assets measured at fair value through profit or loss”. In accordancewith the fair value option amendment, Private Equity investments less than 20%-owned are also recognized as “Financial assets measured at fair value through profit or loss”, since managing and measuring these investments at fair value is a well-established practice within PrivateEquitycompanies.

At initial recognition,financial assets and liabilities are measured at fair value, correspondingto their acquisitionprice at that date. Their subsequentaccountingtreatmentdependson their balance sheet classification.In accordancewith IAS 39, financial assets are classifiedin one of the four categoriesof financial assets set out below: Financial assets measured at fair value through profit and loss These are instrumentsheld for tradingpurposesor designatedat fair value through profit or loss on initial recognition in accordance with the fair value option amendment to IAS 39 (published by the IASB in June 2005 and adopted by the EuropeanUnionon November 15, 2005). Securitiesheld for tradingpurposesare those acquiredby Natixis principallyto be sold in the near term and those formingpart of a portfolio of financial instrumentsthat are managed together and

227

Natixis Registration Document 2017