Groupama // 2021 Universal Registration Document

7 FINANCIAL STATEMENTS

Statutory auditors’ report on the annual financial statements

7.4

STATUTORY AUDITORS’ REPORT ON THE ANNUAL

FINANCIAL STATEMENTS

(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 performed an audit of the annual financial statements of Caisse Nationale de Réassurance Mutuelle Agricole Groupama for the fiscal year ended 31 December 2021, as attached to this report. We certify that, in accordance with French accounting rules and principles, the annual financial statements are truthful and in order and present a fair picture of the operating profits and losses for the past fiscal year as well as the Company’s financial situation and assets at the end of said fiscal year. 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 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.

JUSTIFICATION OF OUR ASSESSMENTS–KEY POINTS OF THE AUDIT

The global crisis caused by the Covid-19 pandemic has created special conditions for the preparation and audit of the accounts for this fiscal year. This crisis and the exceptional measures taken in connection with this health emergency have multiple consequences for companies, particularly on their activity and financing, as well as increased uncertainty about their prospects. Some of these measures, such as travel restrictions and teleworking, have also had an impact on the internal organisation of companies and the way audits are conducted. It is in this complex and evolving context that, pursuant to the provisions of Articles L. 823-9 and R. 823-7 of the French Commercial Code relating to the justification of our assessments, we bring to your attention the key points of the audit relating to the risks of material misstatement that, in our professional judgement, were the most significant for the audit of the annual financial statements for the fiscal year, as well as our responses to these risks.

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Universal Registration Document 2021 - GROUPAMA ASSURANCES MUTUELLES