Groupama // 2021 Universal Registration Document

4 CORPORATE SOCIAL RESPONSIBILITY (CSR) Declaration of Extra-financial Performance

Specifically, if an issuer has a NACE sector explicitly referenced in this tool, we considered 100% of our exposure to be eligible. This is for example the case for the whole property sector (acquisition or possession of property being associated with NACE code L68): we assume that all of our property and forestry assets are eligible for the taxonomy. However, if an issuer is engaged in an activity not explicitly listed, we have considered it to be entirely ineligible. For example, let us take the example of an issuer associated with a NACE code 35.1

which corresponds to “Production, transport and distribution of electricity”. Within this category, the taxonomy retains NACE D35.11 to D35.13 as eligible but not D35.14. As the issuer under consideration has several activities corresponding to different subcategories within D35.1, it cannot be assigned a more precise 4-digit NACE code, so we consider it to be completely ineligible. For the specific case of infrastructure funds, we have considered all EU exposures associated with an eligible NACE code as eligible (following the same rule as presented above).

Regulatory Ratio

Voluntary Ratio

(in %)

(in millions of euros)

(in %) (in millions of euros)

Share of exposures on taxonomy-eligible activities

0%

0

35.2% 15,738.0

Share of exposures on activities not eligible for the taxonomy

0%

0

43.6% 19,497.4

Share of exposures on “unallocated” activities

78.9%

35,235

0%

0

Share of derivatives

-1.1%

-508.4

-1.1%

-508.4

Share of exposures to companies not subject to the NFRD (/DEFP)

22.3%

9,956.9

22.3%

9,956.9

TOTAL ASSETS EXCLUDING PUBLIC EXPOSURES

100% 44,683.8

100% 44,683.8

Share of exposures to central governments, local governments (sovereigns), central banks or supranational issuers

43.2%

34,046.0

43.2% 34,046.0

TOTAL ASSETS

100% 78,729.8

100% 78,729.8

For the Group as a whole, as of 31 December 2021, the investment ratio representing the share of investments in total investments intended for financing or associated with economic activities eligible for the taxonomy is 0% for its regulatory version. The voluntary ratio, according to the methodology described above, for assets eligible for the Taxonomy is 35.2%. Non-life insurance indicator 4.2.4.2 Eligibility for the taxonomy (a) For 2022, also as an insurer, the Groupama group must publish the following ratio on the data at 31 December 2021: Non-life insurance ratio = Share of gross non-life premiums eligible for the taxonomy / Total non-life premiums. The “climate delegate act” determines which activities are eligible for climate change mitigation and adaptation objectives. Non-life insurance is among the activities eligible under the adaptation objective. The act sets out the criteria that non-life insurers must meet in order to be aligned with the Taxonomy. Compliance with these “technical” criteria (and thus the alignment of insurance products) will apply from the year 2024 (fiscal year 2023). According to the “Climate Delegated Act”, the lines of business defined in Annex I of the Solvency II Directive ( i.e. the following 8 lines of business) are eligible for the taxonomy, as long as they are

related to the coverage of a climate risk event. As clarified by the Commission’s Q&A published in December 2021, a line of business must contain products with terms related to the treatment of climate risk events to be considered eligible.

The following 8 activity lines are potentially eligible: medical expenses insurance; ❯ income protection insurance; ❯ workers’ compensation insurance; ❯ motor vehicle liability insurance; ❯ other motor vehicle insurance; ❯ marine, aviation and transport insurance; ❯ fire and other property insurance; ❯ assistance insurance. ❯

Following an initial analysis (see France Assureurs’ note of 18 January 2022), it appears that only the following three lines of business include explicit coverage of a climate risk event: other motor vehicle insurance; ❯

marine, aviation and transport insurance; ❯ fire and other property damage insurance. ❯

On these lines, which explicitly include a climatic guarantee, the entire insurance premium of the products concerned is retained in the numerator of the regulatory ratio.

93 Universal Registration Document 2021 - GROUPAMA ASSURANCES MUTUELLES