GROUPAMA / 2020 UNIVERSAL REGISTRATION DOCUMENT

7 FINANCIAL STATEMENTS Annual financial statements and notes

Commitments received and given Note 16

Securities received as pledges for outward reinsurers and retrocessionnaires The amount corresponds to pledged securities received from outward reinsurers for €321.1 million. Sureties given by reinsured entities with joint and several guarantee The amount corresponds to securities received from the Antilles Guyane regional mutual, of which GroupamaAssurancesMutuelles is the substitute reinsurer, with respect to the representationof its technical reserves of €85.9 million held in custody. Long-term financial instruments outstanding The outstanding long-term financial instruments of Groupama Assurances Mutuelles amounted to €113.7 million, corresponding to the establishmentof swaps to hedge the entire Zen structured bond issue for €113.7 million. Other unquantified and unlimited commitments received and given Before or during the year, Groupama Assurances Mutuelles also granted or obtained unquantified or unlimited commitments involving notably: the letter of intent written by GroupamaAssurancesMutuelles to ❯ the Comité des Établissements de Crédit et des Entreprises d’Investissement (CECEI) as part of the creation of Groupama Épargne Salariale; the assumptionby AssurancesMutuellesof the guaranteegiven ❯ by GroupamaReassuranceto SoremaNA (nowGeneral Security National Insurance Company) regarding the payment of all obligations stemming from two retrocession contracts underwritten by Rampart (Le Mans Re and MMA portfolios); the unconditionalguaranteesgranted by GroupamaAssurances ❯ Mutuelles to Gan Assurances, which require it to supply if applicable the financial means necessary to satisfy the payment of claims relating to insurancepoliciessignedby said companies; these guaranteeswere designed to improve the debt ratings of these companies and terminated during fiscal year 2012, but rights and obligationsunder these guaranteesremain.Groupama Assurances Mutuelles is also responsible for commitments of this type given previously by the CCAMA to the Group’s entities (some of which have been divested) that have since been cancelled but for which certain rights and obligations still exist, the usual specific and technical guarantees (run off) upon the ❯ disposal of The Gan Company of Canada Ltd. to CGU group Canada Ltd.; certainspecificguaranteesgrantedduring the transferof the Gan ❯ Eurocourtage brokerage portfolio to Allianz; the fundamental and specific guarantees granted when ❯ Groupama Banque securities were contributed to Compagnie Financière d'Orange Bank; the specific and fundamental guarantees related to the sale of ❯ 50% of the shares of Presence Verte SA and its subsidiary PVTAP.

Commitments received The €2.1 million of commitments received correspond mainly to: a joint and several guarantee for €1.7 millionreceived as part of ❯ the commitment made for the Groupama Health Foundation; a €0.2 millioncommitmentreceived relating to the acquisitionof ❯ 50% of the shares of the Société de Gestion de l’Échappée; another miscellaneous commitment received of €0.2 million for ❯ related companies. Commitments given The €485.9 million of commitments given by Groupama Assurances Mutuelles correspond mainly to: commitments on unlisted funds of €41.0 million; ❯ an amendment to the cash advance agreement for €31.5 million ❯ between Groupama Assurances Mutuelles and Groupama Investissements for €27.7 million; securities pledged to Group companies for €345.9 million; ❯ securities pledged to Allianz for €29.1 million; ❯ guarantees granted in connectionwith the sale of 94% of Carole ❯ Nash shares held by GUK Booking Services to Atlanta Investment Holding A & 2 for €21.7 million; guarantees granted in connection with the sale of Mastercover ❯ held by GUK BookingServices to Nevada InvestmentTopco and Nevada Investment Holdings 7 for €3.3 million; deposits given to guarantee the commitments of Société de ❯ gestion de l’Échappée to the Union Cycliste Internationale(UCI) World Team and Continentale for €1.6 million; guaranteesgranted as part of the sale of GroupamaSegurosde ❯ Vida t Benefits and Increases Unipessoal Lda for €10.5 million; guarantees granted as part of the sale of 50% of the shares of ❯ Présence Verte SA and its subsidiary PVTAP to Association Nationale Présence Verte for €1.7 million; a first-demand guarantee given to SNC West Park 92 for the ❯ payment of rent, equipment fees, charges, and refundable and other taxes during the lease for €1.9 million; a €1.2 million guarantee given to the Groupama Health ❯ Foundation; various other commitments given for €0.3 million, including ❯ €0.2 million concerning related companies or equity-linked companies. The commitments received for reinsurance totalling €406.9 million include securitiesreceivedas collateral from outwardreinsurersand retrocessionaires and securities provided by entities reserved for joint and several guarantees.

300

Universal Registration Document 2020 - GROUPAMA ASSURANCES MUTUELLES