UNIVERSAL REGISTRATION DOCUMENT 2023

7 FINANCIAL STATEMENTS Annual financial statements and notes

Note 21 Corporate income tax

Tax charge ı

31.12.2023

31.12.2022

(in thousands of euros)

Corporate income tax payable

(158,188)

(12,201)

Reserves linked to fiscal consolidation gains in year N

104,238

128,550

Other

18,832

437

TOTAL INCOME TAX

(35,118)

116,786

Specific nature and make ‑ up of the “Corporate income tax” line As at 31 December 2023, the “income tax” line includes a net tax expense of -€35.12 million broken down as follows:

Tax loss carry ‑ forwards As at 31 December 2023, the consolidated group no longer had short ‑ term carry ‑ forwards.

tax consolidation income: €172.2 million; ❯ tax consolidation expenses: -€49.1 million; ❯ group corporate tax expense: -€158.2 million. ❯

Groupama Assurances Mutuelles tax audit Groupama Assurances Mutuelles underwent tax audits for the 2007 ‑ 2008 and 2016 ‑ 2017 fiscal years. The main reassessment concerned the level of underwriting reserves for claims payable, which the tax authorities considered excessive. With regard to the 2007 ‑ 2008 fiscal years, following the unfavourable ruling of the Paris Administrative Court of Appeal on 5 April 2023, Groupama Assurances Mutuelles is continuing its challenge before the Conseil d’État. For the 2016 ‑ 2017 fiscal years, a claim will be filed in 2024 to challenge this adjustment, like the dispute before the Conseil d’État. In 2023, a provision for tax was recognised and corresponds mainly to the consequences of these tax audits.

“Income tax” consists of taxable income posted to individual tax income for the year from consolidated subsidiaries totalling €104.3 million. The tax consolidation group generated a taxable profit of €612.4 million subject to corporate tax at the ordinary tax rate. As a result, the corporate tax expense of the tax consolidation group was a total amount of €158.2 million: €153.2 million for corporation tax at the ordinary rate and €5 million for the 3.3% social contribution.

Note 22 Breakdown of employee expenses

31.12.2023

31.12.2022

(in thousands of euros)

Salaries

86,500

78,513

Social Security charges

37,446

35,703

Other

7,844

6,909

TOTAL

131,789

121,124

These figures correspond to the de facto Groupama Assurances Mutuelles grouping after allocation to each of its constituents. In 2023, the average rate of expenses of the Group kept by Groupama Assurances Mutuelles is 76.6%.

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Universal Registration Document 2023 GROUPAMA ASSURANCES MUTUELLES