NATIXIS : NATIXIS :FOURTH-QUARTER AND FULL-YEAR 2012 RESULTS

         NATIXIS : NATIXIS :FOURTH-QUARTER AND FULL-YEAR 2012 RESULTS

Paris, February 17, 2013

Project for the sale of CCIs^(1) for an amount of €12.1bn^(2): simplification
of Natixis' structure, deeply rooted in Groupe BPCE, value creation for
shareholders
                                                                                                          
                                                                                                          
2012 underlying net income (group share)^(3) of €1.141bn confirming earnings
capacity and strengthening capital
                                                                                                                                                               
In line with the New Deal strategic plan launched in 2009, which resulted in a
significant reduction of its risk profile, recurring profitability and being
deeply rooted in Groupe BPCE, Natixis announces a project for the sale of CCIs
for an amount of €12.1bn. At the end of this operation, Natixis would make an
exceptional distribution of €2bn, i.e. €0.65 per share. 

Project for the simplification of Natixis' structure

  o Sale of all CCIs to Banques Populaires and Caisses d'Epargne
  o Closing of the P3CI transaction
  o Simplified accounts, 83% of capital allocated to the 3 core
    businesses^(4): Wholesale Banking, Investment Solutions, SFS

Value-creating operation

  o Exceptional distribution^(5) of €2bn, i.e. €0.65 per share in 2013
  o Further strengthening of financial structure: Basel 3 Core Tier 1
    ratio^(6) above 9% as of January 1, 2013 and of 9.2% after Operation^(7)
  o Improved of cost/income ratio^(8) after Operation: 71.2% vs. 76.5%
  o Limited impact on net income (group share) 
  o Increase of Return on Tangible Equity (ROTE) after Operation to 8.5% from
    8.1%^(8)

2012 results: core business revenues up and earning capacity confirmed

  o Core business revenues up +4% in 2012 vs. 2011
  o Program to reduce scarce-resources consumption (capital and liquidity)
    completed a year ahead of schedule
  o Good underlying^(3) results: net income (group share) of €1.141bn down 15%
    vs. 2011 (excluding interest on P3CI)
  o Reported net income (group share) of €901m, after taking into account
    non-operating items of -€240 million, net of tax (mainly revaluation of
    own debt)
  o Proposition^(9) to pay a cash dividend of €0.10 for 2012. A 3.5% yield
    (based on the share price as of February 15, 2013)

Dividend distribution policy favourable  to shareholders: target  distribution 
rate of 50% starting in 2013

^(1) Cooperative  Investment Certificates  - indicative  schedule in  appendix 
^(2) Subject to the experts' final reports ^(3) Excluding non-operating  items 
^(4) Normative capital allocation to core businesses based on 9% of Basel  RWA 
estimated on  December 31  , 2012,  including goodwill  allocated to  business 
lines ^(5) Proposition  presented to the  Extraordinary Shareholders'  Meeting 
^(6) Impact will depend on  final Basel 3 rules -  Fully loaded except on  DTA 
^(^7) Sale of CCIs,  repayment of  P3CI and  related operations, placement  of 
liquidities and exceptional distribution ^(8)  2012 pro forma figures,  except 
non-operating  items  ^(9)  Proposition  presented  to  General  Shareholders' 
Meeting of May 21, 2013

2012 ANNUAL RESULTS

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