NATIXIS -2020 Universal Registration Document

5 FINANCIAL DATA

Parent company financial statements and notes

Note 3

Post-closing events

3.1

Transformation

3.2

Filing of a simplified takeover

and efficiency program Natixis announced on November 5, 2020, at the time of the presentation of its quarterly results, the launch of a program of transformation and operational efficiency that will generate approximately€350 million in sustainable cost savings at the end of 2024 (circa €270 million in exceptional costs over the period), including in particular the transformation of the Corporate and Investment Banking activity. To meet the challenges it faces, Natixis will also continue to develop its operatingmodel with a view to competitivenessby drawing on its solid and diversified expertise. This approach of anticipation, adaptation and development has led Natixis, since 2016, to organize its support functions around two areas of activity in Europe: Paris and Porto. In line with this organizational plan, a development project for the Porto center was presented to the social partners at the end of January 2021. This would consist of: continue the development in Porto of the support functionsalready V established there, in particular Technology & Transformation – with Data & Technology, COO-CIB and Global Business Management & Transformation, Human Resources and Risks; locating other support functions in Porto: Finance, Workplace and V Communication, as well as certain Corporate and Investment Banking activities within Coverage and Distribution Portfolio Management. This project, which would result in the repositioning of activities equivalent to 209 jobs, also confirms Porto’s position as a center of excellence and expertise. The strategic review of the equity derivatives activity also confirmed its importance for Natixis and repositioned it on strategic clients while reducing the level of risk. The implementation of this announcement would lead to the elimination of 36 jobs. To implement the various components of these projects under the best possible conditions following the consultationof the Social and Economic Committee (CSE), an ambitious internal and external mobility plan is planned within the areas concerned. In parallel with the consultation on this project, negotiations will be held with the trade unions to define in detail the measures to support internal and external mobility. Given the date of announcement of these measures, and the concomitant opening of negotiations on the accompanying measures, it is not possible to provide an estimate of their financial effects on that date.

bid for Natixis shares On February 9, 2021, BPCE S.A. announced its intention to acquire the shares in the capital of Natixis S.A. that it did not hold, i.e. around 29.3% as at December 31, 2020, and to file a simplified takeover bid with the French Financial Markets Authority (Autorité des Marchés Financiers – AMF). This proposed takeover bid, at a price of €4.00 per share (dividend attached), will be submitted to the AMF for review and will, if applicable, be followed by a squeeze-out if the conditions of implementation work are satisfied. This proposed offer would be part of an ambitious industrial project for the development of Natixis’ business lines and the simplification of its functional channels, which Groupe BPCE intends to study as part of the preparation of its strategic plan. This transaction had no impact on the parent company financial statements of Natixis at December 31, 2020.

3.3

Natixis and Arch Capital

Group Ltd. announce the completion of the contract to sell 29.5% of the share capital of Coface

Following the approval of the relevant competition and regulatory authorities, Natixis and Arch Capital Group Ltd. announced on February 10, 2021 the sale by Natixis of a 29.5% stake in the share capital of Coface to Arch Financial Holdings Europe IV Limited, an affiliate of Arch Capital Group Ltd., at a price of €9.95 per share (dividend attached). Natixis is no longer representedon the Board of Directors of Coface, as Arch occupies four of the seats of Natixis. Natixis will hold its residual stake of 12.7% in Coface as a financial investment. This transaction had no impact on the parent company financial statements of Natixis at December 31, 2020.

426

NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2020