UNIVERSAL REGISTRATION DOCUMENT 2023

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

(e) The Group standard The accounting standard used for the consolidated financial statements is IFRS. They are distributed at Group level, and instructions for using them are given in a consolidation manual containing reminders of each line item in the balance sheet and the income statement: IFRS reference text and a summary of the standard; ❯ the area of application and possible options selected by the Group wherever the IFRS leave the possibility of applying options; ❯ methods of application. ❯ All of these tasks are aimed at enhancing the quality of the financial data, particularly the consolidated financial statements as well as the management report to the Board of Directors. meetings with the General Management Committee to review the consolidated financial statements; ❯ Audit and Risk Committee meetings to review the consolidated financial statements. ❯ The consolidation manual is available online. It can be accessed by all the entities in the Group (French and English versions). It is updated regularly based on any changes in the IFRS. This consolidation manual also includes instructions (French and English versions) issued to all Group entities at every year ‑ end. The instructions emphasise the specific items applicable to each approval process. These instructions are sent to the statutory auditors for information. Theoretical and practical training is provided regularly to all those involved in the Group so that the requirements introduced by the IFRS are properly understood and incorporated into the financial statements. Transactions among subsidiaries and Groupama Assurances Mutuelles (internal loans, subsidiary restructurings, capital increases, dividend payouts, etc.) are subject to decisions validated by the Groupama Assurances Mutuelles Executive Management and to technical and operational controls by the Group Financial Control Department. Controls on these operations are carried out by auditing the consolidated financial statements, i.e. , by reconciling intra ‑ group transactions, monitoring any changes in shareholders’ equity, and reviewing the transactions recorded for consistency with legal documentation. Supervision of Intra ‑ group Accounting Transactions 6.1.6.3

(c) Control tests A set of verification and control tests has been put into place to ensure that transactions are executed reliably whether they are electronic or not. In addition to the computerised processes, these tests have two main objectives: checking the origin of the data (from the standpoint of accuracy and application of the standards); this check is based mainly on consistency checks with the estimates, with the parent company analytical notes (or the management report) of each entity and on a management questionnaire designed to ensure that the Group’s most sensitive accounting standards and methods are properly applied; ❯ to verify the central processing: accuracy checks are carried out to guarantee that central consolidation transactions are correctly processed (sharing of shareholders’ equity, dilutions/accretions, etc.). ❯ (d) Hierarchical checks Hierarchical checks ensure that the principal items affecting the truthfulness and accuracy of financial data, as well as the asset position and the profit/loss (individual company and consolidated) disclosed to the shareholders, are captured in the data presented. This check involves the use of several procedures: checking for consistency with forecasts and with any information used to cross ‑ check the data appearing in the financial statements; ❯ meetings to approve the financial statements with the employees producing the financial data (with a review of any problem subjects encountered during the approval process); ❯ approval meetings with the statutory auditors of the consolidated financial statements; ❯ The system has an audit trail that can run any cross ‑ checks that might be desired, to identify and monitor any data item and trace the source of any elementary data, from the individual company to the consolidated level. This configuration is tested regularly (particularly by republishing old scenarios). additional controls are carried out centrally. These mainly involve the necessary consistency of data between different entities in the Group ( e.g. for internal reciprocal transactions) and central transactions (conversion of foreign subsidiaries, consolidation entries, etc.). ❯ The control tests are documented in a review manual.

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Universal Registration Document 2023 GROUPAMA ASSURANCES MUTUELLES