GROUPAMA / 2018 Registration document

7 FINANCIAL STATEMENTS

ANNUAL FINANCIAL STATEMENTS AND NOTES

NOTE 16

COMMITMENTS RECEIVED AND GIVEN

Commitments received The €752.1 million ofcommitments receivedcorrespondmainly to: a contractual commitment given on 8 December 2004 in ❯ connection with the opening of a credit line of €750 million, maturing in February 2019; various other commitmentsreceived for €2.1 million concerning ❯ related companiesor equity-linked companies. Commitments given The €704.1 million of commitments given by Groupama AssurancesMutuellescorrespondmainly to: commitments onunlisted funds of €14.3 million; ❯ a total of €80.9 millionof guarantees on liabilities granted along ❯ with the sale ofGroupamaSeguros; a loan agreement with GUK Brokerage Services for ❯ €38.6 million; an amendmentto the cash advance agreementfor €31.5 million ❯ between Groupama Assurances Mutuelles and Groupama Investissements for €7.7 million; securitiespledged to Group companies for €341.9 million; ❯ securitiespledged to Allianzfor €26.3 million; ❯ various other commitments given for €2.4 million, including ❯ €2.2 million concerning related companies or equity-linked companies; guarantees granted as part of the contribution of Groupama ❯ Banque securities to Compagnie Financière d’Orange Bank for €75 million; guarantees granted as part of the sale of 95% of the securities ❯ of SCI Domaine deNalys to FinancièreGuigal for €2.5 million; guaranteesgranted in connectionwith the sale of 94% of Carole ❯ Nash shares held by GUK Booking Services to Atlanta InvestmentHoldingA & 2 for €94.7 million; guarantees granted in connection with the sale of Mastercover ❯ held by GUK Booking Services to Nevada Investment Topco and Nevada InvestmentHoldings 7 for€3.4 million; guaranteesgranted as part of the sale of GroupamaSeguros de ❯ Vida t Benefitsand Increases Unipessoal Lda for €10.5 million; guarantees granted as part of the sale of 50% of the shares of ❯ Présence Verte SA and its subsidiary PVTAP to Association Nationale Présence Verte for€1.7 million; commitments given on a promise to sell property for ❯ €2.4 million; a first-demand guarantee given to SNC West Park 92 for the ❯ payment of rent, equipment fees, charges, and refundable and other taxesduring the lease for €1.8 million. The commitments received for reinsurance totalling €394.5 million include securities received as collateral from outward reinsurers and retrocessionairesand securities provided by entities reserved for joint and several guarantees.

Securities received as collateral from outward reinsurers and retrocessionaires The amount correspondsto securities received under pledge from outward reinsurersfor €293.5 million. Sureties given by reinsured entities with joint and several guarantee The amount corresponds to securities received from the Antilles Guyane regional mutual, of which Groupama Assurances Mutuelles is the substitute reinsurer, with respect to the representation of its technical reserves of €101 million held in custody. Long-term financial instruments outstanding The outstanding long-term financial instruments of Groupama Assurances Mutuelles amounted to €482.6 million, corresponding to the establishment of swaps to hedge the entire Zen structured bond issuefor €482.6 million. Other unquantified and unlimited commitments received and given Before or during the year, Groupama Assurances Mutuelles also granted or obtained unquantified or unlimited commitments involving notably: the guaranteegiven to Société d’Assurancesde Consolidationdes Retraites de l’Assurance(SACRA) for contractualobligationsmade by Groupama Asset Management to SACRA starting in June 2014; the letter of intent written by GroupamaAssurancesMutuellesto ❯ the Comité des Etablissements de Crédit et des Entreprises d’Investissement (CECEI) as part of the creation of Groupama ÉpargneSalariale; the assumptionby AssurancesMutuelles of the guaranteegiven ❯ by Groupama Reassurance to Sorema NA (now General Security National InsuranceCompany)regarding the payment of all obligations stemming from two retrocession contracts underwritten byRampart (Le MansRe andMMA portfolios); the unconditionalguaranteesgranted by GroupamaAssurances ❯ Mutuelles to Gan Assurances, which require it to supply if applicable the financial means necessary to satisfy the payment of claims relating to insurance policies signed by said companies; these guarantees were designed to improve the debt ratings of these companies and terminated during fiscal year 2012, but rights and obligations under these guarantees remain. Groupama Assurances Mutuelles is also responsiblefor commitmentsof this type given previouslyby the CCAMA to group entities (some of which have been divested) that have since been cancelled but for which certain rights and obligations still exist;

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REGISTRATION DOCUMENT 2018 - GROUPAMA ASSURANCES MUTUELLES