GROUPAMA / 2020 UNIVERSAL REGISTRATION DOCUMENT

2 THE GROUP’S BUSINESSES Financial businesses

2.4

FINANCIAL BUSINESSES

2.4.1

2.4.2

GROUPAMA IMMOBILIER

GROUPAMA ASSET MANAGEMENT

The core activities of Groupama Immobilier are based on appreciation of properties under management, the administrative and financial management of leases and an advisory role for companies of the Group and for third parties. In particular, Groupama Immobilier manages property assets held by Groupama Assurances Mutuelles and its French subsidiaries, representing a total value of €3.5 billion as of 31 December 2020. These assets include commercial and operating property (77%), residential property (19%), mainly in Paris and its immediate suburbs, and forests (4%). Groupama Immobilierhas ISO 9001certification(2015 version) and ISO 14001 (2015 version) for investment, management, and valuation of property assets: acquisitions, major projects, marketing, property and technical management, and sales. In 2020, the portfoliomanagementcompanyGroupamaGan REIM, a subsidiaryof GroupamaImmobilier(60%) and GroupamaGan Vie (40%), continued its developmentthrough an investmentcampaign for the various managed AIFs (OPPCI, OPCI, and SCPI).

Groupama Asset Management, a subsidiary dedicated to Asset Management, is ranked 10 th among French Asset Management companies (AFG ranking – December 2019). Groupama Asset Management posted consolidated revenue of €183 million as of 31 December 2020. Assets under management amounted to €108.6 billion, including 23% on behalf of external customers. The robustness of subscription flows and the good performance delivered by management reinforce the direction given to the development strategy in recent years, between diversification of customer targets and geographical diversification through the internationalisation of the management offering. The management quality and the performance of its funds were recognised again in 2020. The EuropeanFunds Trophy recognised GroupamaAsset Managementas the top managementcompanyin France and Europe in the category of 41 to 70 rated funds. In particular, equity and convertible bond management received 19 awards this year, reflecting an expertise in the Small and Mid-Cap and France and Euro/Europe Equities segments as well as international equities. In 2020, in line with the Group’s policy and values, Groupama Asset Managementcontinued the deploymentof the integrationof ESG (environmental, social, and governance) criteria into all of its financial analyses and investment vehicles. New funds were launched to provide a solution for customers who want to make long-terminvestmentsand contribute to the economic recovery (G Fund World R Evolution and G Fund New Deal for Europe). In addition, 5 funds were awarded the ISR label at the end of 2020. This label process will be undertakenmore broadly on the offering of funds.

28 Universal Registration Document 2020 - GROUPAMA ASSURANCES MUTUELLES