GROUPAMA / 2020 UNIVERSAL REGISTRATION DOCUMENT

7 FINANCIAL STATEMENTS Annual financial statements and notes

The following table shows the depreciation times and shares tbyype of property:

House and office after 1945

Offices or residential high-rises

House and office before 1945

Retail

Period Percentage

Period Percentage

Period Percentage

Period Percentage

Components

120 years

65% 80 years

65% 50 years

50% 70 years

40%

Building shell

Frame, beams, columns, floors, walls Wind- and water-tight facilities

35 years

10% 30 years

10% 30 years

10% 30 years

20%

Roof-terrace Facades Covering

External woodwork Technical facilities

25 years

15% 25 years

15% 20 years

25% 25 years

25%

Lifts Heating/Air conditioning Networks (electrical, plumbing, etc.) Fixtures, finishings

15 years

10% 15 years

10% 15 years

15% 15 years

15%

Int. improvements

The redemption value recorded at the close is the most recent quoted price at the inventory date. For unlisted securities, it is the market value resulting from the price that would be obtainedunder normal market conditions and depending on their utility to the Company. Equities and other variable-income securities (c) (including equity securities) Shares and other variable-income securities under Article R. 343-10 of the French Insurance Code are recorded at their purchase price excluding accrued interest. In accordance with the provisions of ANC regulation 2014-03 relating to the general accounting Code (Art 221-1/213-8), Groupama Assurances Mutuelles chose the accounting option allowing it to incorporate acquisition costs into the cost price of equity interests and to recognise, in its accounting, accelerated amortisation over five years. The realisable value retained at statement closing corresponds: for listed securities, as a general rule, the last price listed on the ❯ day of the inventory; for unlisted securities, to the market value correspondingto the ❯ price that would be obtained under normal market conditions based on their usefulness for the Company; for shares of variable-capital investment companies and shares ❯ of mutual funds, the last purchaseprice publishedon the day of the inventory. Loans (d) Loans granted to companiesbelonging to the Group and to other entities are valued according to their contracts.

The realisable value of SCI or real estate shares is equal to the Groupama AssurancesMutuelles share in the revalued net assets of that company. The valuation is determined based on the following: the shareholders’equity of the property or real estate company ❯ as of 31 December; the capital gain or loss on fixed assets. Fixed assets are valued ❯ on the basis of five-yearappraisalsreviewedannuallyand carried out by independent appraisers. At each closing, the valuation portion of the share (or units) is compared with the NBV of that share (or unit). A reserve for impairment is recorded where appropriate. Fixed-income securities (b) Bonds and other fixed-income securities under Articles R. 343-9 and R. 343-10of the French InsuranceCode are recorded at their purchase price, net of accrued interest at the time of purchase.The difference between the purchaseprice and the redemptionvalue is reported on the income statementover the remainingterm until the repayment date, using actuarial methods in most cases. An amortisationof the premium or discount is recorded up to the time of transfer in the year the fixed income marketable securities are sold. Accrued interest is recognised in the balance sheet under asset accruals. Inflation-linked change in the redemption value of bonds that are indexed on the general price levels is posted to income.

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Universal Registration Document 2020 - GROUPAMA ASSURANCES MUTUELLES