Paris, April 11, 2019

Preparation of the 1Q19 Financial Communication:

The 2018 quarterly series have been restated following the disposal of the retail banking activities (Factoring, Sureties & Financial guarantees, Leasing, Consumer finance and Securities services) to BPCE S.A. finalized on March 31, 2019. The loss of control over these entities being anterior to the transfer date of the securities, Natixis’ published financial statements will not be impacted by the 1Q19 contribution of such subsidiaries as a consequence.

In order to ensure comparability with the published financial statements, the 2018 quarterly series disclosed hereafter have been restated for the contribution of such entities. Over previous periods, such a contribution was supplemented by expenses related to the SFS business line (e.g. Corporate Secretary) that will still impact Natixis’ published financial statements in 1Q19. For the purpose of comparability, such expenses have been restated in the quarterly series disclosed hereafter and will thus be isolated from the net income for the financial communication (a table bridging the gap with the accounting figures will be disclosed).

                  Besides, 1Q19 results will be positively impacted by the disposal of the retail banking activities to BPCE S.A. due to the realization of a capital gain (Gain or loss on other assets - Corporate Center) and tax adjustments (Income tax). These impacts will be booked as exceptional items for financial communication purposes.

Changes in Natixis’ account presentation following the disposal of the retail banking activities to BPCE S.A.

• Employee savings plan is reallocated to Asset & Wealth Management
• Film industry financing is reallocated to Corporate & Investment Banking
• Insurance is not impacted
• Payments becomes a standalone business line
• Financial Investments are isolated and include Coface, Natixis Algeria and the private equity run-off activities. The Corporate Center is refocused on Natixis’ holding and ALM functions and carries the Single Resolution Fund contribution within its expenses

Additional impacts on the quarterly series from the disposal of the retail banking activities to BPCE S.A.

• New support function services provided by Natixis to the activities sold (TSA / SLA), as well as the cancellation of services or analytical items that have been made obsolete following such a disposal are factored in
• The reclassification as Net revenues of the residual IT and logistic services that continue to be provided to the activities sold. Such services now being provided to entities that do not fall under Natixis’ scope of consolidation anymore, they have been reclassified as Net revenues instead of expense deductions
• The implementation of introductory fees between the Natixis CIB Coverage and the entities sold

                                                 In order to ensure comparability between the 2018 and 2019 quarterly series, these impacts have been simulated retroactively as of January 1st, 2018, even though they only impact the published financial statements as of their implementation date in 2019. These items essentially impact the Corporate Center and more marginally the CIB. The others business lines are unimpacted.                                           

Appendix (non-audited):

Update of the 2018 quarterly series following the disposal of the retail banking activities to BPCE S.A                                       

(1) Global finance includes Film industry financing(2) Including M&A(3) Normative capital allocation methodology based on 10.5% of the average RWA - including goodwill and intangibles

For information purposes, the P&L of the retail banking activities sold to BPCE S.A. over 2018 is as follows:

About NatixisNatixis is the international corporate and investment banking, asset management, insurance and financial services arm of Groupe BPCE, the 2nd-largest banking group in France through its two retail banking networks, Banque Populaire and Caisse d’Epargne. With more than 18,000 employees, Natixis has a number of areas of expertise that are organized into four main business lines: Asset & Wealth Management, Corporate & Investment Banking, Insurance and Payments.A global player, Natixis has its own client base of companies, financial institutions and institutional investors as well as the client base of individuals, professionals and small and medium-size businesses of Groupe BPCE’s banking networks. Listed on the Paris stock exchange, it has a solid financial base with a CET1 capital under Basel 3(1) of €12 billion, a Basel 3 CET1 Ratio (1) of 10.8 % and quality long-term ratings (Standard & Poor’s: A+ / Moody’s: A1 / Fitch Ratings: A+). (1) Based on CRR-CRD4 rules as reported on June 26, 2013, including the Danish compromise - without phase-in.Figures as at December 31, 2018

     Contacts

    www.natixis.com

Attachment

• PR quarterly series