Groupama // 2021 Universal Registration Document

7 FINANCIAL STATEMENTS

Statutory auditors’ report on the combined financial statements

7.2

STATUTORY AUDITORS’ REPORT ON THE COMBINED

FINANCIAL STATEMENTS

This is a free translation into English of the statutory auditors’ report on the combined financial statements issued in French and is provided solely for the convenience of English speaking readers. This report should be read in conjunction with, and construed in accordance with French law and professional auditing standards applicable in France.

(Fiscal year ended 31 December 2021)

PricewaterhouseCoopers Audit 63, rue de Villiers 92208 Neuilly-sur-Seine Cedex

MAZARS Tour Exaltis 61, rue Henri Regnault 92400 Courbevoie

Dear Members,

OPINION

In compliance with the assignment entrusted to us by your General Meeting, we conducted an audit of the combined financial statements of Caisse Nationale de Réassurance Mutuelle Agricole Groupama for the fiscal year ended 31 December 2021, as attached to this report. In our opinion, the combined financial statements give a true and fair view of the results of operations for the past fiscal year as well as the financial position and assets of the Group at the end of the fiscal year, in accordance with International Financial Reporting Standards as adopted by the European Union. The above opinion is consistent with the content of our report to the Audit and Risk Management Committee.

BASIS OF THE OPINION

Audit reference standard We conducted our audit in accordance with the professional standards applicable in France. We believe that the information we collected and on which we founded our opinion was sufficient and appropriate. Our responsibilities according to these standards are described in the section “Responsibilities of the statutory auditors relating to the audit of the combined annual financial statements” of this report. Independence We conducted our audit in accordance with the rules of independence stipulated in the French Commercial Code and in the professional code of ethics for statutory auditors over the period from 1 January 2021 to the issue date of our report. In particular, we did not provide any services prohibited by Article 5, paragraph 1, of Regulation (EU) No. 537/2014.

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Universal Registration Document 2021 - GROUPAMA ASSURANCES MUTUELLES