GROUPAMA / 2019 Universal Registration Document

7 FINANCIAL STATEMENTS Annual financial statements and notes

Commitments received and given Note 16

Commitments received The €2.1 million in commitments received mainly corresponds to: a joint and several guarantee for €1.7 million received with ● respect to the commitment made for the Groupama Health Foundation; various other commitmentsreceived for €0.4 million concerning ● affiliated companies or equity-linked companies. Commitments given The €582.8 million of commitments given by Groupama Assurances Mutuellescorrespond mainly to: commitmentson unlistedfunds of €11.2 million; ● a total of €80.9 millionof guarantees on liabilities granted along ● with thesale of Groupama Seguros; 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 €334.7 million; ● securitiespledged to Allianzfor €29.1 million; ● guarantees granted as part of the contribution of Groupama ● Banque securities to Compagnie Financière d’Orange Bank for €75 million; guaranteesgranted in connectionwith the sale of 94% of Carole ● Nash sharesheld by GUKBookingServicesto AtlantaInvestment Holding A& 2 for €22.9 million; guarantees granted in connection with the sale of Mastercover ● held by GUK BookingServicesto Nevada InvestmentTopco and Nevada InvestmentHoldings 7 for€3.5 million; guarantees given to secure the commitments of Société de ● gestion de l’Echappée to the Union Cycliste Internationale(UCI) WorldTeam for €1.5 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; a first-demand guarantee given to SNC West Park 92 for the ● payment of rent, equipment fees, charges, and refundable and other taxes duringthe lease for €1.8 million. various other commitments given for €1.9 million, including ● €1.5 million concerning affiliated companies or equity-linked companies. The commitmentsreceived for reinsurance totalling €388.8 million includesecuritiesreceivedas collateralfrom outwardreinsurersand retrocessionairesand securities provided by entities reserved for joint andseveral guarantees.

Securities received as collateral from outward reinsurers and retrocessionaires The amount correspondsto securities received under pledge from outward reinsurers for€297.1 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 GroupamaAssurancesMutuelles is the substitute reinsurer, with respect to the representationof its technical reserves of€91.7 million held in custody. Long-term financial instruments outstanding The outstanding long-term financial instruments of Groupama Assurances Mutuelles amounted to €467.3 million, corresponding to the establishmentof swaps to hedge the entire Zen structured bond issue for €467.3 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 letter of intent written by GroupamaAssurancesMutuellesto ● the Comité des Établissements de Crédit et des Entreprises d’Investissement (CECEI) as part of the creation of Groupama Épargne Salariale; the assumptionby AssurancesMutuellesof the guaranteegiven ● by GroupamaReassuranceto SoremaNA (now GeneralSecurity National Insurance Company) regarding the payment of all obligations stemming from two retrocession contracts underwritten by Rampart (Le Mans Re and MMA portfolios); the unconditionalguaranteesgranted by GroupamaAssurances ● Mutuelles to Gan Assurances, which require it to supply if applicablethe financialmeansnecessaryto satisfythe paymentof claims relating to insurance policies signed by said companies; these guaranteeswere designed to improve the debt ratings of thesecompaniesand terminatedduringfiscal year2012,but rights and obligations under these guarantees remain. Groupama AssurancesMutuellesis also responsiblefor commitmentsof this type given previouslyby the CCAMA to group entities (some of which have been divested)that have since been cancelledbut for which certain rightsand obligations still exist; the usual specific and technical guarantees (run off) upon the ● disposal of The Gan Company of Canada Ltd. to CGU group Canada Ltd.; certain specific guarantees granted during the sale of Gan ● Eurocourtage’sbrokerage portfolioto Allianz; fundamental and specific guarantees granted during the ● contributionof securitiesfrom GroupamaBanque to Compagnie Financière d’Orange Bank; the specific and fundamental guarantees related to the sale of ● 50% of the shares of Présence Verte SA and its subsidiary PVTAP.

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Universal Registration Document 2019 - GROUPAMA ASSURANCES MUTUELLES