GROUPAMA / 2019 Universal Registration Document

7 FINANCIAL STATEMENTS

Statutory auditors’ report on the consolidated financial statements

7.2

STATUTORY AUDITORS’ REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS

This is a free translationinto English ofthe statutoryauditors’report on theconsolidatedfinancial statements issued in French and isprovided solely for the convenienceof English speaking readers. This report should be read in conjunctionwith, and construed inaccordancewith, French law and professional auditing standards applicable in France.

(Year ended 31 December 2019)

PricewaterhouseCoopersAudit 63, rue de Villiers 92208Neuilly-sur-SeineCedex

MAZARS Tour Exaltis 61, rue HenriRegnault 92400Courbevoie

Dear Members,

OPINION

In compliancewith the assignmententrustedto us by your general meeting,we performedan audit of the consolidatedfinancialstatements of CAISSENATIONALEDE RÉASSURANCEMUTUELLEAGRICOLEGROUPAMAfor the fiscal year ended 31 December 2019,as attached to this report. These financial statements were approved by the Board of Directors on 12 March 2020on the basis of the information available as of that date in an evolving context of the COVID-19 health crisis. In our opinion,the consolidatedfinancialstatementsgive a true and fair view of the resultsof operationsfor the past fiscal year as well as the financial position and assets of the Group at the end of the fiscal year, in accordancewith InternationalFinancial Reporting Standards as adopted bythe European Union. The aboveopinion is consistent with thecontentof ourreport to the Audit andRisk Management Committee.

BASIS OF THE OPINION

Audit reference standard We conductedour audit in accordancewith the professionalstandards applicable in France. We believe that the audit evidence we have obtainedis sufficient andappropriate to providea basisfor ouraudit opinion. Our responsibilitiesaccordingto these standardsare described in the section “Responsibilitiesof the statutoryauditors relating to the audit of the consolidated financial statements” of this report. Independence We conductedour audit in accordancewith the rules of independenceapplicableto us, over the period from 1 January 2019to the issue date of our report. In particular,we did not provide any servicesprohibitedby Article 5,paragraph 1,of Regulation(EU) No. 537/2014or by the professional code of ethics for statutoryauditors. Observation Without qualifyingour opinion above, we draw your attentionto Note 2.2“General presentationof consolidatedfinancial statements”to the consolidated financial statements, which sets outthe impacts of the first-time application of IFRS 16 “Leases”.

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Universal Registration Document 2019 - GROUPAMA ASSURANCES MUTUELLES