Groupama // 2021 Universal Registration Document

7 FINANCIAL STATEMENTS Annual financial statements and notes

Accruals – Assets Note 8

31.12.2021

31.12.2020

(in thousands of euros)

Accrued interest not yet due

29,141

28,565

Deferred acquisition costs

3,931

3,644

Reimbursement price differences receivable

2,989

2,266

Other accruals

71,718

63,128

TOTAL ASSET ACCRUALS

107,779

97,603

Changes in shareholders’ equity Note 9

Composition of initial capital The initial capital consists of 411,824,587 mutual certificates with a par value of €8.785. Statement of movements in reserves and changes in shareholders’ equity ı

Allocationof 2020 result

Remuneration of mutual certificates

Other mvts for the year

Result for the year

31.12.2020

Result

31.12.2021

(in thousands of euros)

Shareholders’ equity Initial capital Share capital Capitalisation reserve Other reserves

3,617,879

3,617,879

Subtotal: Other reserves Balance brought forward

69,957 144,913

(14,002)

200,868

Net income for fiscal year

144,913 (144,913)

89,103

89,103

TOTAL

3,832,749

(14,002)

89,103 3,907,850

Subordinated liabilities Note 10

“Subordinated liabilities”, which stood at €3,232.3 million at 31 December 2021, is detailed as follows: perpetual subordinated debt in euros issued in May 2014 at a ❯ fixed rate of 6.375% until the first call date for a Par value of €1,100 million, with the possibility for Groupama Assurances Mutuelles to apply an early redemption from May 2024; TSR issued in September 2019 at a fixed rate of 2.125%, with a ❯ term of ten years and a nominal value of €500 million; TSR issued in January 2017 for a nominal value of €650 million at ❯ a fixed rate of 6% over a period of ten years. The nominal difference remaining to be amortised at 31 December 2021 is €7.7 million;

TSR issued in September 2018 for a nominal value of ❯ €500 million at a fixed rate of 3.375% for a 10-year term and for which the issue premium is recorded as a deduction from the nominal value issued and amortised on a straight-line basis over the life of the bond; TSR issued in July 2021 for a nominal value of €500 million at a ❯ fixed rate of 0.75% for a 7-year term and for which the issue premium is recorded as a deduction from the nominal value issued and amortised on a straight-line basis over the life of the bond. In addition, this issue was carried out for the first time in a “green” format and will therefore be backed by projects in favour of the ecological and energy transition.

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Universal Registration Document 2021 - GROUPAMA ASSURANCES MUTUELLES