NATIXIS : Amendment of the 2020 Universal registration document

Joint stock company with capital of €5,052,644,851.20

Registered office: 30 avenue Pierre Mendès France, 75013 Paris

Paris Trade and Companies Register No. 542 044 524

FIRST AMENDMENT TO THE

2020 UNIVERSAL REGISTRATION DOCUMENT

FILED WITH THE AMF ON MAY 12, 2021

2020 Universal Registration Document and Annual Financial Report filed with the AMF on March 9, 2021, under number D. 21-0105.

This first amendment to the universal registration document was filed on May 12, 2021 with the AMF, in its capacity as the competent authority under EU Regulation No. 2017/1129, without prior approval in accordance with Article 9 of said regulation.

The Natixis universal registration document may be used for the purposes of an offer to the public of securities or for the admission of securities to trading on a regulated market if it is supplemented by a securities note and, where applicable, a summary and all amendments made to the universal registration document. These documents as a whole are approved by the AMF in accordance with EU Regulation No. 2017/1129.

Natixis First amendment to the 2020 universal registration document1

CONTENTS

FIRST AMENDMENT TO THE

2020 UNIVERSAL REGISTRATION DOCUMENT

1	- Press release of May 6, 2021 - Presentation of the results as of March 31, 2021	3
2	- Press releases relating to the simplified tender offer for Natixis shares	29
3	- Other press releases as of May 6, 2021	31
4	- Presentation of Natixis	33
5	- Corporate governance	34
6	- Risk factors, Risk management and Pillar III	36
7	- Capital and share ownership	54
8	- General Shareholders' Meetings	56
9	- Person responsible for the Amendment to the universal registration document	57
and its amendments
10 - General information	58
11 - Cross-reference table and incorporation by reference	60

Natixis First amendment to the 2020 universal registration document2

1 Press release of May 6, 2021 - Presentation of the results as of March 31, 2021

Natixis' financial information for the first quarter of 2021 consists of the press release presented below, the results slides and the appendices to the attached slides, available on the Natixis website: https://www.natixis.com/natixis/en/financial-documents-c_5041.html

1Q21 results

Laying the foundations of the upcoming 2024 strategic plan

Reported net income at +€225m in 1Q21 (€(204)m in 1Q20) and underlying net income1 at +€239m (€(81)m

in 1Q20)

Underlying RoTE1 at 10.4% in 1Q21

Basel 3 FL CET1 ratio2 at 11.6% +330bps above regulatory requirements

BUSINESS ACTIVITY

BUSINESSES' UNDERLYING NET REVENUES1 AT €2.1BN IN 1Q21, UP +21% YOY

AWM: Business growth and continued AuM increase

Underlying net revenues1 excl. H2O AM up +11% YoY (flat YoY including H2O AM) mainly driven by higher management fees and financial revenues

Natixis Investment Managers' AuM up +3% QoQ. AuM at €1,153bn3 as at end-March 2021

Positive asset management net inflows on long-term products of ~€6bn3 in 1Q21 mainly driven by North American affiliates with net inflows notably turning positive at Harris. More than €20bn3 positive net inflows on long-term products over the past 12 months

CIB: Continued development and cost of risk improvement

Underlying net revenues1 up +38% YoY (+9% excluding dividend mark-downs and XvA impacts in 1Q20). Net revenue growth mainly driven by Global markets and Global finance

Underlying cost income ratio1 improving to 58.6% in 1Q21 (78.0% in 1Q20) thanks to a positive jaw effect

Cost of risk benefiting from a favorable environment in 1Q21 although still at elevated levels at 52bps of outstandings

Underlying RoE1 at 12.3% in 1Q21

Insurance: Solid commercial activity and financials

Underlying net revenues1 up +5% YoY in 1Q21 with a positive jaw effect Underlying RoE1 at ~30% in 1Q21

Life Insurance4: AuM growth of +4% QoQ to reach €75.7bn (of which 27% of unit-linked products)

Payments: Net revenue growth and investments

Underlying net revenues1 up +4% YoY in 1Q21 despite COVID-19 lockdown measures in France

Underlying RoE1 at 10.6% in 1Q21 while maintaining investment in order to ensure a sustainable development

FINANCIAL STRENGTH

Underlying net income1 at +€239m in 1Q21 (+€225m reported) vs. €(81)m in 1Q20 (€(204)m

reported). Underlying RoTE1 at 10.4% in 1Q21

Basel 3 FL CET1 ratio2 at 11.6% as at March 31, 2021 (flat vs. 4Q20), +330bps above regulatory requirements

Natixis First amendment to the 2020 universal registration document3

"Natixis' results for the first quarter of 2021 continue the positive momentum underway since the second half of 2020. Our business lines are on a sustainable growth path, underpinned by the transformation measures undertaken over recent months.

These results represent a solid base for the kick-off of the 2021-2024 strategic plan and for the ongoing growth of Natixis' four businesses under the simplification and development project presented by Groupe BPCE in February.

I would like to pay tribute to the exceptional commitment of our teams who have remained fully mobilized throughout this unprecedented crisis to support our clients and contribute to a sustainable economic recovery."

Nicolas Namias, Natixis Chief Executive Officer

2020 figures restated for the evolution of the standards applied as well as the evolution of the Asset and wealth management organization as of January 1st, 2021 (see note on methodology) 1 Excluding exceptional items. Excluding exceptional items and excluding IFRIC 21 in 4Q for cost/income, RoE and RoTE

2 See note on methodology 3 Excluding H2O AM (~€18bn AuM as at March 31, 2021) 4 Excluding reinsurance agreement with CNP

Natixis First amendment to the 2020 universal registration document4

1Q21 RESULTS

On May 06th, 2021, the Board of Directors examined Natixis' first quarter 2021 results

					1Q21	1Q21			1Q20		1Q21 vs.
		1Q21		1Q20	vs.
			o/w			o/w		1Q20
€m		restate		restate	1Q20
		underlyi			underlyi		underlyi
		d		d	restate
			ng			ng		ng
					d
Net revenues		2,073		1,655	25%		2,049			1,638		25%
o/w businesses		2,037		1,693	20%		2,052			1,700		21%
Expenses		(1,659)		(1,560)	6%		(1,614)			(1,557)		4%
Gross operating income		414		95	x4.4	435			81		x5.4
Provision for credit losses		(92)		(193)			(92)			(193)

	1Q21		1Q20	1Q21 vs.
		1Q20
	underlyi		underlyi
		underlyi
	ng		ng
		ng
	incl. H2O		incl. H2O
		incl. H2O
	2,068		1,733	19%
	2,071		1,795	15%
	(1,628)		(1,579)	3%
	440		153	x2.9
	(92)		(193)

Net operating income		323		(98)	NR	344			(113)		NR				349		(40)	NR
Associates and other items		6		(8)			6			6						4		6
Pre-tax profit		328		(107)	NR	349			(107)		NR				353		(34)	NR
Income tax		(95)		1			(100)			5						(102)		(9)
Minority interests		(10)		(10)			(11)			(10)						(12)		(39)
Net income - group share excl. Coface &		224		(116)	NR		239			(111)		NR
H2O AM
Coface net contribution		7		(118)			0			1						0		1
H2O AM net contribution		(6)		29			0			29						0		0
Net income - group share incl. Coface &		225		(204)	NR		239			(81)		NR				239		(81)	NR
H2O AM

Underlying net revenues are up +25% YoY (+19% including H2O AM) off a low base due to several items, all directly or indirectly linked to the COVID-19 context having impacted 1Q20 (seed money portfolio mark-downs, dividend mark-downs on equity products, XvA - see page 12). All businesses are featuring YoY revenue growth with CIB up +38% YoY, AWM up +11% YoY, Insurance up +5% YoY and Payments up +4% YoY.

Underlying expenses are up +4% YoY reflecting top line growth and related impacts on variable costs. The underlying cost/income ratio1 stands at 72.3% in 1Q21 (85.2% in 1Q20).

The underlying cost of risk has improved both QoQ and YoY although remaining above its through-the-cycle level (see below for exposures to "sensitive" sectors). Expressed in basis points of loans outstanding (excluding credit institutions), the businesses' underlying cost of risk worked out to 52bps in 1Q21.

Net income (group share), adjusted for IFRIC 21 and excluding exceptional items reached €353m in 1Q21. Accounting for exceptional items (€(14)m net of tax in 1Q21) and IFRIC 21 impact (€114m in 1Q21) the reported net income (group share) in 1Q21 at €225m.

The Natixis' underlying RoTE1 reached 10.4% in 1Q21 excl. IFRIC 21 (vs. 0.8% in 1Q20).

Natixis' exposure to the Oil & Gas sector stood at ~€10.2bn of net EAD2 (Exposure at Default) as at 31/03/2021 (~60% Investment Grade) of which ~€0.7bn across US independent producers and service companies which have a more limited absorption capacity of lower oil price. As at 31/13/2021, the exposure to Aviation stood at ~€3.8bn of net EAD2, was well diversified across more than 30 countries (none of which exceeding 25% of the exposure), secured for >90% and majority Investment Grade. The exposure to Tourism & Leisure stood at ~€2.1bn of net EAD as at 31/03/2021, mainly in the EMEA region and geared towards industry leaders.

1See note on methodology. Excluding exceptional items and excluding IFRIC 21 2Energy & Natural Resources + Real Assets perimeters

Natixis First amendment to the 2020 universal registration document5