Groupama // 2021 Universal Registration Document

7 FINANCIAL STATEMENTS

Statutory auditors’ report on the combined financial statements

RESPONSIBILITIES OF THE STATUTORY AUDITORS RELATING TO THE AUDIT OF THE COMBINED FINANCIAL STATEMENTS

Audit objective and approach It is our responsibility to prepare a report on the combined financial statements. Our goal is to obtain reasonable assurance that the combined financial statements taken as a whole do not contain any material misstatements. Reasonable assurance is a high level of assurance but is not a guarantee that an audit performed in accordance with the professional auditing standards will always detect any material misstatement. Misstatements may arise as a result of fraud or error and must be regarded as being material if it can reasonably be expected that they, individually or in the aggregate, will affect the financial decisions made by users of the financial statements on the basis of the financial statements. As specified by Article L. 823-10-1 of the French Commercial Code, our role of certifying the financial statements is not to guarantee the viability or the quality of the management of your company. As part of an audit performed in accordance with the professional auditing standards applicable in France, the statutory auditor uses professional judgement throughout this audit. In addition: the statutory auditor identifies and assesses the risks that the combined financial statements contain material misstatements, whether due ❯ to fraud or error, and defines and implements audit procedures for such risks and collects evidence considered sufficient and appropriate to serve as the basis of its opinion. The risk of non-detection of a material misstatement due to fraud is greater than that of a material misstatement resulting from an error given that fraud can involve collusion, falsification, voluntary omissions, false statements and the avoidance of internal controls; the statutory auditor obtains an understanding of the internal controls of relevance to the audit in order to design audit procedures that are ❯ appropriate in the circumstances, but not to express an opinion on the effectiveness of the internal controls; the statutory auditor assesses the appropriateness of the accounting methods used and the reasonableness of the accounting estimates ❯ made by management, as well as the information concerning them provided in the combined financial statements; the statutory auditor assesses whether the accounting convention of going concern applied by the management is appropriate, according ❯ to the collective information, whether there is any material uncertainty related to events or circumstances likely to call into question the Company’s ability to continue its operation. This assessment is based on the evidence collected up to the date of its report. However, subsequent circumstances or events could jeopardise the continuity of operations. If the statutory auditor concludes that there is significant uncertainty, it draws the attention of readers of its report to the information provided in the combined financial statements about this uncertainty or, if this information is not provided or is not relevant, it formulates a qualified certification or a refusal to certify; the statutory auditor assesses the overall presentation of the combined financial statements and whether they reflect the underlying ❯ transactions and events so as to give a true and fair view; concerning the financial information of the persons or entities included in the scope of consolidation, it collects information that it deems ❯ sufficient and appropriate to express an opinion on the combined financial statements. It is responsible for the management, supervision, and execution of the audit of the combined financial statements as well as the opinion expressed on these financial statements. Audit and Risk Management Committee We submit to the Audit and Risk Management Committee a report outlining the scope of the audit work and the work programme implemented, as well as the conclusions of our work. Where appropriate, we also inform it of significant weaknesses of internal control that we identified with respect to the procedures relating to the preparation and processing of accounting and financial information. Among the items disclosed in the report to the Audit and Risk Management Committee are the risks of material misstatement that we considered to be the most significant for the audit of the combined financial statements for the year and that therefore constitute the key points of the audit, which it is our responsibility to describe in this report. We also provide the Audit and Risk Management Committee with the declaration provided for in Article 6 of Regulation (EU) no. 537-2014 confirming our independence, within the meaning of the rules applicable in France as laid down in particular by Articles L. 822-10 to L.822-14 of the French Commercial Code and in the code of ethics of the profession of statutory auditor. Where appropriate, we discuss with the Audit and Risk Management Committee any risks to our independence and the safeguarding measures applied.

Neuilly-sur-Seine and Courbevoie, 18 March 2022

The statutory auditors

PricewaterhouseCoopers Audit Christine Billy

Mazars Maxime Simoen Jean-Claude Pauly

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Universal Registration Document 2021 - GROUPAMA ASSURANCES MUTUELLES