UNIVERSAL REGISTRATION DOCUMENT 2023

7 FINANCIAL STATEMENTS Annual financial statements and notes

3.3.6 Accruals – Assets The accruals accounts on the asset side are mainly composed of: accrued interest and income; ❯ differences in the redemption prices of bonds; ❯ acquisition costs carried over to future fiscal years; ❯ reinsurance accrual accounts. ❯ 3.3.7 Reserves (other than underwriting) Reserves (other than underwriting) are set up in accordance with the provisions of ANC regulation 2014 ‑ 03 on French generally accepted accounting principles and concern risks and charges that are clearly specified in terms of their purpose but whose due date or amount cannot be fixed precisely. This item also includes regulated provisions consisting mainly of accelerated amortisation on acquisition costs of equity securities. Reserves for retirement commitments and similar obligations are measured and recognised in accordance with ANC recommendation 2013 ‑ 02, amended on 5 November 2021, the applied method being the method based on revised IAS 19 adopted by the European Commission in June 2012 with the immediate recognition of actuarial gains and losses in the income statement. Corporate income tax Groupama Assurances Mutuelles is the parent company of a tax consolidation group comprising 68 tax ‑ consolidated entities. As such and in accordance with the provisions of Article 223 B of the French general tax code, Groupama Assurances Mutuelles is solely liable for the tax due by the consolidated group. In addition, each member of the tax consolidation group (including Groupama Assurances Mutuelles as a member of the Group) determines its taxable income as if it were not part of the consolidated group, i.e. , it determines its taxable income after deducting its own pre ‑ consolidation losses (equivalent to statement no. 2058 ‑ A ‑ Bis ‑ SD). On this basis, each member entity calculates an amount of corporate tax at the rate applicable to the head company of the tax consolidation group, i.e. , calculated at the normal rate and increased by additional contributions (rate of 25.82%), whatever the actual amount of tax owed by the Group. This amount of corporate tax is paid to Groupama Assurances Mutuelles via tax consolidation current accounts. The tax savings realised by the Group relating to losses are reported at the Groupama Assurances Mutuelles parent company level. They are treated as an immediate gain for the year and not as a simple cash saving. The savings achieved by the consolidated group, not related to losses, are also retained by the parent company, with the exception of the tax savings achieved on the neutralisation of intra ‑ group dividends between Groupama Assurances Mutuelles and the regional mutuals. 3.3.8 The assets are depreciation on a straight ‑ line or degressive basis based on their estimated useful life which varies from 2 to 10 years depending on the type of asset.

3.3.3 Foreign currency transactions In accordance with Article 243 ‑ 1 of ANC regulation 2015 ‑ 11, operational foreign currency position accounts, converted at the inventory price and the equivalent in euros, are offset against foreign exchange income. For structural transactions, the foreign exchange difference is posted to the balance sheet in unrealised foreign exchange adjustment accounts. Receivables Receivables are recorded at their face redemption value (historical cost). They include, in particular: for direct insurance operations (these concern non ‑ life insurance operations in co ‑ insurance and co ‑ reinsurance groupings and the operations of the regional mutual of Antilles Guyane not licensed to carry out insurance operations): ❯ premiums yet to be written for policyholders, ■ premiums yet to be cancelled for policyholders, ■ premiums yet to be collected from policyholders, ■ loans or advances from co ‑ insurers; ■ for inward reinsurance operations: ❯ the Groupama Assurances Mutuelles share in the premiums yet to be written, and in the premiums to be cancelled by the ceding entities (notably the regional mutuals), net of reinsurance, ■ loans or advances with the ceding entities, ■ receivables due relating to transactions accepted from the ceding entities; ■ for disposal transactions: ❯ loans or advances to outward reinsurers, ■ income owed relating to transactions ceded to outward reinsurers; ■ for the other receivables: ❯ tax consolidation loans or advances to daughter companies, ■ receivables from government bodies and social security agencies, ■ loans or advances to various other entities, ■ other accrued income. ■ 3.3.4 In the event of a probable loss, an impairment is recognised for the estimated amount that cannot be recovered.

3.3.5 Tangible operating assets The tangible operating assets item consists primarily of:

improvements to the premises; ❯ transport equipment; ❯ office equipment; ❯ furniture; ❯ IT equipment; ❯ other tangible assets. ❯

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Document d’Enregistrement Universel 2023 GROUPAMA ASSURANCES MUTUELLES