GROUPAMA / 2020 UNIVERSAL REGISTRATION DOCUMENT

2 THE GROUP’S BUSINESSES Insurance in France

Protection insurance 2.2.4.3 In 2020, Groupama allowed more and more of its customers to take out protection insurance through fluid, simplified processes based on a secure digital health questionnaire and electronic signatures on policy documents. For farmers, Groupama also provided digital access and easier enrolment for “Replacement services” offering, which allows farmers to receive benefits in kind in thevent of a work stoppage. Moreover, in the context of the pandemic, Groupama took action beyond its policies, for example by simplifying the process of declaring work stoppages for vulnerable individuals or, in certain situations, by dropping contractual excesses in the implementation of replacementservices for farmers, or in the event of sick leave for healthcare professionals. Group insurance 2.2.4.4 The Group generated €1.9 billion in group insurance premium income as of the end of 2020. The fiscal year was characterisedby continued commercial development in group health, protection, and retirement insurance. The year was marked by the health crisis, which resulted in: a slight positive impact in terms of loss experience with less ❯ consumption among our policyholdersdue to the lockdownand delayed consumption,especially in hospitalisation,vision, dental, and private-practice consultations; a negative impact on protection insurance benefits with an ❯ increase in work stoppages and a significant increase in the portability of covers for employees who have lost their job; an increase in the number of unpaid sums, with late payments ❯ observed in connection with the economic situation, leading to payment difficulties on the business side; the introductionof a Covid-19 tax equivalent to 2.6% of revenue ❯ in 2020 and 1.3% in 2021 ( i.e. 3.9% over 2 years). In addition, 2020 saw the effective entry into force of the 100% healthcare reform, which aims to provide access to a range of essential care without any remaining expenses for our vision and dental policyholders. Hearing cover with a 0% co-payment will come into force on 1 January 2021. Against this background, a new healthcare solution going beyond “traditional” care with high-added-value services was launched in less than 6 months. 2020 was also the year of implementationof the new pension and employee savings solutions associated with the PACTE law (mandatory PER and collective PER). Despite the health crisis brought on by the coronavirus, which put a major brake on the marketing of these offeringsby our distributionnetworks,the Group ended the year honourably with these offerings meeting the expectations of companies.The individualPER (replacingthe PERP and the Madelin) was a great success. This solution was quickly incorporatedby the Group’sdistributionnetworksand, in particular, by brokers. It was also able to attract knowledgeablesavers just as quickly. In addition, taking advantage of a time-limited regulatory opportunity,a commercial operation allowed our holders of former

corporate policies to transfer their savings to this new individual PER and thus take advantage of the new features offered by this solution. Convinced of the strategic nature of savings/pensions in the coming years, the Group continued its comprehensive pension initiative. In group products, this deployment resulted in an increased remote presenceon the appropriationof these “PACTE” offerings, training support in the form of webinars for the networks, and digital services for the Group’s distribution networks and the general public. The services backed by our protection and health insurance policies, sought by our customers to promote prevention and employee well-being, were a real way to stand out in a very competitive, saturated market. This was heightened by the health and economiccrisis, where the need to be present and supportour customers on these themes was very strong. The year 2020 was an opportunity to launch a DSN-related absenteeism analysis offering and a new caregiver assistanceservice in partnershipwith a start-up. Measures for the ongoing improvementof the customerexperience continue. After the enrolment process was digitised, the Group customer space for employeeswas completely redesignedto offer a better user experiencein terms of both ease of browsingand the addition of new features. The quality of the Group’s support for its customers has been rewarded. The customer relations and Health Benefits Division of the Group InsuranceDivisionhad its ISO 9001certificationrenewed without “non-compliance or weaknesses”. Employee savings 2.2.4.5 Groupama Épargne Salariale is the Group subsidiary dedicated to employee savings. Its solutionsare offered to companiesregardless of their size and business sector and are mainly distributedby the regional mutuals, Gan Assurances, Gan Eurocourtage, and Gan Prévoyance. Groupama Épargne Salariale represents 15,600 customercompanies,131,000savers, and more than €1.5 billionin assets under management. In 2020, despite the health and economic crisis, 1,172 new companies signed up (almost as much as in 2019). SRI assets under management exceeded €1 billion for the first time out of a total of €1.5 billion. These good results were thanks to the mobilisation of the teams to support networksand customerseven remotely. Online enrolment was made easier. Customers were encouraged from the beginning of the year to complete all their transactions online and were regularly informed via webinars and newsletters. The year 2020 was also markedby the mass marketingof the new collective PER, which GroupamaÉpargne Salariale was one of the first players in the market to offer. Since the beginning of 2020, nearly 10,000 companies have signed up for this new plan. For the 11 th year, Groupama Épargne Salariale’s offerings were awarded the “Excellence” labels by Dossiers de l’Épargne. This label is awarded by experts to the best policies on the market.

25 Universal Registration Document 2020 - GROUPAMA ASSURANCES MUTUELLES