UNIVERSAL REGISTRATION DOCUMENT 2023

6 EARNINGS AND FINANCIAL POSITION Management report of the Board of Directors

6.1.6.2 Combined Financial Statements The internal control procedures used to establish the reliability of the consolidated financial data for the shareholders of Groupama Assurances Mutuelles are based on five basic principles: checking the adequacy of skills (internal check), integrated control, parallel control tests, hierarchical control, and Group benchmarking. Security of internal audit procedures They are applied for the departments preparing the consolidated and combined accounts in the same way as described in the section on the corporate accounts (see above). Integrated controls The Group’s system for developing condensed financial data has been implemented across of entities. It is based on a single consolidated data production base. All the entities supply this database with data through secure links. It contains a large number of controls designed to guarantee the quality of financial data: the first level of verification entails checking the standardisation of the data (all Group data is formatted following a single standard); ❯ the second level involves a series of automatic checks built into the entities’ individual data collection phase. These checks mainly relate to the overall accuracy and consistency of the items entered. Depending on the types of control, the data input may either be blocked automatically (which can only be cancelled if the exact data is input), or else the control returns an error, which must be corrected. An audit trail of these controls is maintained centrally. The software allows a fairly high level of automatic control through the development of interfaces with the upstream systems; ❯ (a) (b) As Group parent company, Groupama Assurances Mutuelles handles the accounting for a number of subsidiaries through its Shared Service Centre (operating SCIs, GIE Groupama Support & Services, holding companies, and other subsidiaries) as well as investment accounting for the French subsidiaries. The Group Financial Control Department prepares the financial component of the financial statements (securities and real property, plant and equipment) for the profit centres, using an auxiliary accounting system. For those entities in particular, it works with the Group Tax Department to calculate the financial taxable income/expense (securities and real property) and drafts the statutory financial statements to be sent to the ACPR. The tools and procedures used to keep investment auxiliary accounts (back ‑ office securities and accounting tool) and the accounting systems of the entities without the means to have their own Accounting Departments comply with the same internal control criteria as those described previously for the Groupama Assurances Mutuelles parent company statements (see above). With regard to the investment accounting system, it should be noted that standardised controls, which are subject to written procedures, can be used to guarantee the reliability of the information regarding investments.

integrated control and control tests: this refers to all operations guaranteeing the reliability and existence of an audit trail when data are charged to the accounting, tax and regulatory information system, notably: ❯ the functions and applications used to perform reliability tests and tests to check on the accuracy and consistency of accounting transactions, ■ other non ‑ computerised actions and tests, mainly focusing on consistency checks carried out by random sampling on large ‑ volume transactions, with very low unit amounts ( e.g. balancing of policyholder balances, tax statements); and ■ hierarchical control: aimed at distributing information and allowing the cross ‑ checking required for the reliability of the parent company financial statements. This is done through several routine management and inventory procedures: ❯ within current management: ■ separation of the functions of commitment and expenditure: in principle, expenditure of a technical, general, or financial nature is ordered by persons outside the Group Financial Control Department who are authorised up to a certain ceiling based on the type of expenditure; these expenditures are initiated by the Group Financial Control Department only after a signature different from that of the authorising officer is obtained, — monitoring of banking delegations: delegation of signature authority for banking transactions, granted to some employees, is subject to administrative monitoring and regular updating; these functions have been the responsibility, since 1 July 2014, of the Group Legal Department in close collaboration with the Group Financial Control Department; — within inventory management and preparation of the financial statements: ■ regular review meetings between the Group Financial Control Department and the other departments designed to provide an overview of all the flows for the year and anticipate their integration into the financial statements, — measurement of the consistency between the parent company statements and the estimated statements in collaboration with the various teams of the Group Financial Control Department, — building up a set of supporting documentation for the year’s financial statements under the supervision of the reviewer’s direct line Manager, then the department head, — review of parent company and Group tax income/ expense with the Group Tax Department, — internal meetings within the Group Finance Department to deal with different operational and functional views and thus to ensure the validity of the Groupama Assurances Mutuelles auxiliary and parent company financial statements, — approval of the financial statements by the Executive Management. —

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Document d’Enregistrement Universel 2023 GROUPAMA ASSURANCES MUTUELLES