NATIXIS - 2018 Registration document and annual financial report

OVERVIEW OF THE FISCAL YEAR Significant events of 2018

in the UK (financial services), Vermilion Partners in China, and Clipperton in France (technology sectors). These new investments are helping Natixis speed up its business internationalization efforts, while furthering its expansion in Europe and Asia-Pacific. Corporate & Investment Banking also continued to grow its sector M&A teams specialized in the infrastructure, energy, natural resources and real estate sectors. Private Equity Magazine named Natixis Partners “Advisor of the year—M&A Large Cap” in 2018. Natixis and its affiliate Natixis Partners ranked fifth by number of deals at December 31, 2018 (source: Mergermarket) . In 2018 the Insurance division completed the first step of its New Dimension strategic plan by launching key initiatives aimed at making the transformation of Natixis Assurances more visible. In Personal Insurance , the new multi-site, multi-brand client relationship model developed under the Move#2018 transformation program was rolled out in June. Client relationship structure, tools and processes are now identical across the Banque Populaire banks and Caisses d'Epargne. A platform for managing estates was also created. As part of the Cultural Transformation program, all Paris-based staff were moved to the same premises, while other locations were converted into innovative workspaces and agile methodologies for strategic projects were rolled out. Since the Bourquin amendment came into force on January 1, 2018, policyholders have been allowed to cancel their loan insurance each year. This prompted Natixis Assurances to adapt its offering by putting in place a retention scheme. The impact of this new regulation on the portfolio remained limited in 2018. In non-life insurance , three major strategic projects were launched: the Purple#Care plan to transform and digitalize claims management was successfully deployed in June and September for two-wheel and four-wheel vehicles; the #Pop’Timiz project to pool non-life insurance middle and back office operations for the Banque Populaire banks and Caisses d’Epargne was implemented in November when the APS platform was rolled out in three Banques Populaires; lastly, the #INNOVE2020 program was launched with the goal of making BPCE Assurances the sole non-life insurance platform for both Banque Populaire and Caisse d’Epargne retail customers by 2020. In asset allocation, Natixis Assurances made a proactive and tangible commitment to combat climate change and announced that it will be aligning its investment policy with the 2°C climate scenario set in the Paris Agreement. This means that, every year, Natixis Assurances will devote 10% of its investments to green assets, with a target of 10% of total investments in green assets by 2030. It invested more than €350 million in green bonds in 2018. With this policy, it intends to encourage and prioritize companies that contribute to the energy and ecological transition. On November 14, 2018, the International Accounting Standards Board voted in favor of postponing the effective date of IFRS 17 from 2021 to 2022. The standard will be submitted for public review in 2019. Natixis Assurances’ preparation for the application of this standard is ongoing.

In the four strategic sectors , the teams are structured into sector-based groups of experts known as industry bankers. Natixis increased its support for its customers by providing a continuum of solutions ranging from financing and investment banking to advisory services. It also stepped up its originate-to-distribute (O2D) model and was named “Credit Portfolio Manager of the Year” by Risk Magazine for the innovative, integrated approach at the heart of its active portfolio management strategy. Natixis stood out for its ability to coordinate distribution among its three international platforms and for its ability to match institutional investors, particularly from Asia, with the deals it arranges. In the infrastructure sector, Natixis particularly stood out in the Americas, where it was named “Bank of the Year” by leading magazine PFI , which also gave Natixis several “Deal of the Year” awards for transactions arranged all over the world. Natixis also continued its commitment to green and SRI finance, as well its efforts to digitalize commodity trading, namely by joining forces with 14 other banks and industry players to create fintech komgo SA. In the Real Estate & Hospitality sector, Natixis was ranked No. 1 MLA and Bookrunner in France and Europe in 2018 (source: Dealogic) , reflecting the vitality of its business and its positioning as a major arranger in the sector. In June 2018 Global Transaction Banking was renamed Trade & Treasury Solutions (TTS), and since then has specialized in cash management solutions and trade finance. Natixis continued to digitalize its business, particularly with its new international transaction tracking service My Tracked Transfer and we.trade. Natixis also received the 2018 “Greenwich Share Leader” award for “Large Corporate Trade Finance” category in France (source: Greenwich Associates) . In Investment Banking , Strategic and Acquisition Finance maintained a high level of activity in 2018 by arranging a wide variety of innovative, landmark transactions. Natixis was ranked No. 1 bookrunner for sponsored loans and No. 5 for leveraged loans in the EMEA region (source: Thomson Reuters) at December 31, 2018. With its international network of origination teams, Natixis consolidated its expertise and global leadership in the euro-denominated covered bonds segment by being voted “Best Euro Lead Managers for Covered Bonds” (source: GlobalCapital magazine) . As an active player in the energy transition, Natixis also operates in the green bond segment. It has also managed many dual-tranche issues. In addition, its partnership with ODDO-BHF in 2017 strengthened the position of its Equity Capital Markets teams on the primary equity market. Having led the two biggest IPOs of the year, Natixis tied for No. 1 IPO Bookrunner on the IPO market by volume and number of deals (source: Bloomberg) . In share buybacks, Natixis strengthened its franchise with its customers in all segments. Natixis (1) was also ranked No. 2 bookrunner in the equity-linked market in France by number of deals and by volume at December 31, 2018 (excluding ABB) (source: Bloomberg) . In Mergers & Acquisitions , Natixis made strategic investments in three independent M&A consulting firms that are leaders in their respective market segments: Fenchurch Advisory Partners

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Natixis Registration Document 2018