GROUPAMA / 2020 UNIVERSAL REGISTRATION DOCUMENT

7 FINANCIAL STATEMENTS Consolidated financial statements and notes

Financing debt Note 24

Financing debt – by maturity 24.1

31.12.2020

31.12.2019

> 5 years

Total

< 1 year 1 to 5 years

> 5 years

Total

< 1 year 1 to 5 years

(in millions of euros)

Subordinated debt of insurance companies Financing debt represented by securities Financing debt with banking-sector companies TOTAL

1,632

1,632

1,630

1,630

1,632

1,632

1,630

1,630

The redeemable subordinated bonds classified as “financing liabilities” are as follows:

Nominal (in millions of euros)

Maturity (if dated)

Issued by

Issue date

Coupon

Coupon rate Step-up clause

Groupama Assurances Mutuelles

650 23.01.2017 23.01.2027

Fixed

6.00%

no

Groupama Assurances Mutuelles

500 24.09.2018 24.09.2028

Fixed

3.38%

no

Groupama Assurances Mutuelles

500 16.09.2019 16.09.2029

Fixed

2.13%

no

At 31 December 2020, the quotation: of the 2017 issue is 125.0%, compared with 127.2% at ❯ 31 December 2019; of the 2018 issue is 112.5%, compared with 110.5% at ❯ 31 December 2019; of the 2019 issue was 104.2%, compared with 100.5% at ❯ 31 December 2019.

In view of the specific terms and conditionsof each issue pursuant to IAS 32 sections 16and 17, these bonds are consideredfinancial liabilities rather than equity instruments. They are therefore recognised under financing debts. Interest expenses are recognised under financing expenses in the income statement.

Financing debt – by currency and rate 24.2

31.12.2020

Currencies

Rate

Eurozone

Non-eurozone

Fixed rate

Variable rate

(in millions of euros)

Subordinated debt of insurance companies

1,632

1,632

Financing debt represented by securities Financing debt with banking-sector companies TOTAL

1,632

1,632

211 Universal Registration Document 2020 - GROUPAMA ASSURANCES MUTUELLES