Groupama // 2021 Universal Registration Document

7 FINANCIAL STATEMENTS Annual financial statements and notes

receivables from government bodies and social security ■ agencies, loans or advances to various other entities, ■ other income due. ■ In the event of a probable loss, an impairment is recognised for the estimated amount that cannot be recovered.

no. 2058-A-Bis-SD). On this basis, each member entity calculates an amount of corporate tax at the rate applicable to the head company of the tax consolidation group, i.e. , calculated at the normal rate and increased by additional contributions (rate of 28.41%), whatever the actual amount of tax owed by the Group. This amount of corporate tax is paid to Groupama Assurances Mutuelles via tax consolidation current accounts. The tax savings realised by the Group relating to losses are reported at the Groupama Assurances Mutuelles parent company level. They are treated as an immediate gain for the year and not as a simple cash saving. The savings achieved by the consolidated group, not related to losses, are also retained by the parent company, with the exception of the tax savings achieved on the neutralisation of intra-group dividends between Groupama Assurances Mutuelles and the regional mutuals. These two items are recorded in the financial statements pursuant to the provisions of notice 2005-G dated 12 October 2005 of the Emergency Committee of the Conseil National de la Comptabilité. for direct insurance operations (these concern non-life insurance ❯ operations in co-insurance and co-reinsurance groupings and the operations of the regional mutual of Antilles Guyane not having administrative authorisation to carry out insurance operations): policyholders’ credit accounts, ■ commissions on premiums earned but not written, ■ advances or loans from co-insurers; ■ for inward reinsurance operations: ❯ advances or loans with the ceding offices, ■ accrued expenses related to inward transactions from these ■ ceding entities; for disposal transactions: ❯ advances or loans with outward reinsurers, ■ accrued expenses related to inward transactions from these ■ outward reinsurers; for the other payables: ❯ advances or loans of a financial and operational nature with ■ various other entities, bank overdrafts, ■ taxes and social security owed. ■ Accruals – Liabilities 3.3.10 Accrual accounts on the liabilities side correspond mainly to the amortisation of differences on bond redemption prices. Debts 3.3.9 Payables mainly consist of:

Tangible operating assets 3.3.5 The tangible operating assets item consists primarily of: improvements to the premises; ❯ transportation equipment; ❯ office equipment; ❯ furniture; ❯

computer equipment; ❯ other tangible assets. ❯

The assets are depreciation on a straight-line or degressive basis based on their estimated useful life which varies from 2 to 10 years depending on the type of asset. Accruals – Assets 3.3.6 The accruals accounts on the asset side are mainly composed of: accrued interest and income; ❯

differences in the redemption prices of bonds; ❯ acquisition costs carried over to future fiscal years; ❯ accruals related to FFIs. ❯

Reserves (other than underwriting) 3.3.7 Reserves (other than underwriting) are set up in accordance with the provisions of ANC regulation 2014-03 on the French national accounting system and concern risks and charges that are clearly specified when they are applicable but whose due date or amount cannot be fixed precisely. This item also includes regulated provisions consisting mainly of accelerated amortisation on acquisition costs of equity securities. Reserves for retirement commitments and similar obligations are measured and recognised in accordance with ANC recommendation 2013-02, the applied method being the method based on revised IAS 19 published in June 2011 with the immediate recognition of actuarial gains and losses in the income statement. Corporate income tax 3.3.8 Groupama Assurances Mutuelles is the parent company of a tax consolidation group comprising 67 tax-consolidated entities. As such and in accordance with the provisions of Article 223 B of the French general tax code, Groupama Assurances Mutuelles is solely liable for the tax due by the consolidated group. In addition, each member of the tax consolidation group (including Groupama Assurances Mutuelles as a member of the Group) determines its taxable income as if it were not part of the consolidated group, i.e. , it determines its taxable income after deducting its own pre-consolidation losses (equivalent to statement

Change in accounting method 3.4 No change in accounting method was noted during this fiscal year.

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Universal Registration Document 2021 - GROUPAMA ASSURANCES MUTUELLES