NATIXIS -2020 Universal Registration Document

5 FINANCIAL DATA

Consolidated financial statements and notes

Net cash flow statement The balance of cash and cash equivalents consists of the net balances of cash and amounts due from central banks, as well as on-demand deposits with and loans from credit institutions. Changes in cash generated by operating activities consist of cash flows generated by Group activities, with the exception of those related to held-to-maturity financial assets and investmenptroperty.

Changes in cash related to investment operations result from cash flows related to acquisitions and disposals of investments in consolidated and non-consolidated associates, tangible and intangible fixed assets, and acquisitionsand disposals of investment property, property provided under operating leases and financial assets held to maturity.

(in millions of euros)

31/12/2019

31/12/2020

386

2,945

Pre-tax profit

+/- Net charge to depreciation and amortization of property, plant and equipment and intangible assets

397

454

+/- Writedown of goodwill and other non-current assets

0

(2)

4,737

8,455

+/- Net charge to other provisions (including insurance companies’ technical reserves)

+/- Share in income of associates

(6) (9)

(21)

+/- Net loss/(gain) on investing activities

(885)

+/- (Income)/expenses from financing activities

69

88

+/- Other activity

(782)

3,171

= Total non-cash items included in pre-tax profit and other adjustments

4,406

11,260

+/- Decrease/(increase) in interbank and money market items

11,490

(13,129) (6,927) (1,808)

(177)

+/- Decrease/(increase) in customer items

+/- Decrease/(increase) in financial assets or liabilities

(9,154)

+/- Decrease/(increase) in non-financial assets or liabilities (e)

(419) (491) 1,249 6,040

1,349

- Income taxes paid

(630)

= Net decrease/(increase) in operating assets and liabilities

(21,145)

Net cash provided/(used) by operating activities

(6,940)

88 61

2,652

+/- Decrease/(increase) in financial assets and equity interests (a)

+/- Decrease/(increase) in investment property

(80)

+/- Decrease/(increase) in property, plant and equipment and intangible assets

(384)

(204)

Net cash provided/(used) by investing operations

(235) (167) (147) (313) (235) 4,082 6,041 (235) (313) (235) (1,176) (1,176) 16,087 21,014 (4,927) 20,170

2,368

+/- Cash received from/(paid to) shareholders (b)

(2,752)

+/- Other cash provided/(used) by financing operations (c) Net cash provided/(used) by financing operations Cash flow on assets and liabilities held for sale (d) Net increase/(decrease) in cash and cash equivalents Net cash provided/(used) by operating activities Net cash provided/(used) by investing activities Net cash provided/(used) by financing activities Cash flow on assets and liabilities held for sale Impact of exchange rate fluctuations on cash and cash equivalents Impact of exchange rate fluctuations on cash and cash equivalents

(175)

(2,928)

0

164

(7,336)

(6,940)

2,368

(2,928)

0

164

Cash and cash equivalents at beginning of period

23,423

Cash and balances with central banks

24,280

Interbank balances

(857)

Cash and cash equivalents at end of period

16,087

Cash and balances with central banks

30,637

21,014 (4,927) (7,336)

Interbank balances

(10,467)

CHANGE IN CASH AND CASH EQUIVALENTS

4,082

Cash flows related to financial assets and investments in associates, including in particular: a)

- cash flows related to consolidated equity investments for -€194.2 million; - cash flows related to non-consolidated equity investments for +€90.3 million; - cash flows related to assets held to maturity for +€191.6 million The Natixis Board of Directors decided to follow the recommendations made by the European Central Bank (ECB) on March 27, 2020 to not distribute dividends given the uncertainty over the financial impacts (b) of the COVID-19 crisis. Cash flows from financing activities can be broken down as follows: (c) - interest paid on subordinated notes for -€81 million; - interest paid on deeply subordinated notes recorded in equity for -€66 million. Corresponds to Coface and H20 cash (see Note 1.2). (d) Including cash flows in relation to lease liabilities, amounting to -€225 million at December 31, 2020. (e)

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2020