GROUPAMA / 2019 Universal Registration Document

7 FINANCIAL STATEMENTS

Statutory auditors’ report on the annual financial statements

7.4

STATUTORY AUDITORS’ REPORT ON THE ANNUAL

FINANCIAL STATEMENTS

This is a free tanslationinto Englishof the statutoryauditors'report on the annualfinancialstatementsissued in Frenchand is providedsolely for the convenienceof English speaking readers. This report should be read in conjunctionwith, and construed in accordancewith 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 assignmententrusted to us by your general meeting, we performed an audit of the annual financial statementsof CAISSENATIONALEDE RÉASSURANCEMUTUELLEAGRICOLEGROUPAMAfor the fiscal year ended 31 December 2019,as attachedto this report. These financial statementswere approvedby the Board of Directorson 12 March 2020on the basis of the informationavailable as of that datein an evolving context of the COVID-19 health crisis. We certify that, in accordancewith French accounting rules and principles, the annual financial statements are truthful and in order and presenta fair picture of the operatingprofits and losses for the past fiscal year as well as the company’sfinancialsituationand assets at the end of saidfiscal year. 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 annualfinancial 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.

JUSTIFICATION OF THE ASSESSMENTS - KEY POINTS OF THE AUDIT

Pursuantto the provisionsof Articles L.823-9and R.823-7of the Frenchcommercialcode relatingto the justificationof our assessments,we bringto yourattentionthe key pointsof the auditrelatingto the risksof materialmisstatementhat, in our professional judgement,werethemost significant for the audit of the annual financialstatementsfor the fiscal year, as well as ourresponses to theserisks. Theseassessmentscontributedto the auditof the annualfinancialstatements,takenas a whole,approvedunderthe conditionsrecalledabove, and to the formationof our opinionexpressedabove.We do not expressan opinionon items in these annual financialstatementsviewed in isolation.

296

Universal Registration Document 2019 - GROUPAMA ASSURANCES MUTUELLES