GROUPAMA / 2019 Universal Registration Document

1 OVERVIEW OF THE GROUP Human resources

Similarly, HR Day in mid-May brought 250 HR Managers from all the companies together for a peek ahead at 2030. This was a unique occasion, between Artificial, Emotional and Collective Intelligence,to discoverkey trends, imaginewhat might lie ahead in terms of work, and start to think about possible transformations. Speeches, round table, TEDx conferences, Design Fiction workshop. The HR teams were mobilised around the “preferable” future that wewant tobuild for Groupama and its employees. This forward-lookingwork is guided by a priority highly consistent with the HR policy rolled out in 2019: working well together and ensuring a work/life balance. Groupama offers its employees environments and working methods promoting agility, better knowledge of each other, cross-functionality, and collaboration. Groupama Campus occupies a special place in the search for innovation for team performance. It aims to bring together more than 3,500 employeesfrom 10 Group companiesat the same site in Nanterre in early2021. In 2019, the Group’s companies also helped to ensure a good work/life balance through the continueddeployment of teleworking. The effectiveness of teleworking and new managerial practices resulting from remote work, digitisation, project modes, and agile methods rely on trust between the Managerand the employee. In addition, the initiative continued to grow to benefit employees, representing two thirds of the regional mutuals (6 out of 9), eight subsidiaries, and the entire UES in 2019. For Groupama Assurances Mutuelles, the progress has been significant: while 400 employees took advantage of teleworking as of the end of 2017, there were 763 as of 31 December 2019, or 66% of the workforce, confirming the success of this initiative in keeping with the results of the 2018 Group Opinion Survey, which overwhelmingly supported teleworking with respect to working conditions. The companies also adapted to the social movement context of December 2019 byrelaxing the ruleson teleworking. With respectto the collectivewages policy, profit-sharingmeasures are in place in all Group companies in France. In this regard, more than €19,723,064 (9,305 beneficiaries) and €4,266,321 (1,455 beneficiaries) respectively was paid out in profit-sharing schemes during 2019. The wage policy implemented in 2019 thus made it possible to maintain a good level of wage competitiveness relative to the market, taking into account the wage measures paid (representing a total of 1.51% of payroll at the end of July) and the budget allowance for employee savings (profit-sharing, matching for the company savings scheme (PEE) andpensionscheme(PERCO)). As part of the emergency economic and social measures and in addition to the measures presented above, most of the Group’s entities granted a “Macron bonus”. This measure represented a cost of approximately 0.46% of the Group’s payroll. In addition,in keepingwith a responsibleemployerapproachand in responseto the outlookfor pensionplans, Groupamaincreasedthe employer contributionto the “1.24%” supplementarypension plan by 0.10 points,bringing it to 1.34% starting in January 2019.This

option was also adopted for the Gan entities, increasing the contribution to the branchplan from 1% to1.10%. Lastly, the PACTE Act (action plan for corporate growth and transformation)gave the Group the opportunityto market the three retirement products in the last quarter of 2019: individual PER (PERIN),mandatoryPER (PERO), andcollective PER (PERCOL). With regard to the savings/pensions of Group employees, a unilateral measure was taken in December 2019 to amend the PERCO-I regulation, permit its conversion into a PERCOL-I, and providefor the followingmeasures in particular: the possibility of making voluntary tax-deductible payments by ● default; funding of the PERCOL-I through transfers from other PER ● schemesor other pensioncontracts(PERP,Madelin); allocationof profit-sharingto the PERCOL-I bydefault; ● changes in the terms forwithdrawingfrom the PERCOL-I. ● The applicationof these new measures enabled this conversionof the PERCO-I intoa PERCOL-Ito enter into forceat the beginningof 2020. In France, the consolidatedcompaniesare principally regulated by the Collective Insurance Companies Agreement (covering 87% of employees), with the other companies regulated by agreements covering their own business lines (banking, support, etc.). Contractual provisions are supplemented by inter-company or companyagreements,especiallywith regardto the organisationand duration of work as well as pension and protection insurance schemes. At the Group level, industrial dialogue is managed in France within the Group Committee and the Industrial Dialogue Commission (a negotiatingbody). The Group agreementon industrialdialoguewas revised in March 2019 to take into account the Macron orders of September 2017 and the gradual establishment of Social and Economic Committees in theGroup’s companies. The establishmentof the Social and EconomicCommittee(SEC) in the Group’scompanies was completed in December 2019. To support this process, which affected some 30 companies, the Group also set up an agreement starting in 2018 regarding the career paths of employees who serve as staff and/or trade union representatives. Withregardto professionalgenderequality,2019wasmarkedby the establishmentof the equal pay index (resultingfrom the law for the freedom tochoose one’s professional future of 5 September 2018). Companies with more than 1,000 employees, including many Groupamagroup entities, have publishedthis index. They obtained around 80 points out of 100, with up to 90 points out of 100 for some of them, and thus confirmed a positive initial assessment. This result demonstrates the Groupama group’s proactive action for many years in ensuring equal pay for women and men, particularly in the context of collective agreements and the “Mentoringfor women” initiative, which has created a real dynamic for potential employees in connection with the work on talent management andthe inclusion ofwomen in senior management.

14 Universal Registration Document 2019 - GROUPAMA ASSURANCES MUTUELLES