Groupama // Universal Registration Document 2022

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EARNINGS AND FINANCIAL POSITION Management report of the Board of Directors

(e) The Group’s accounting standards The accounting standards for the consolidated financial statements are the 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. approval meetings with the statutory auditors of the consolidated financial statements; ❯ meetings with the General Management Committee to review the consolidated financial statements; ❯ meetings of the Audit and Risk Management Committee 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 at every closing to all Group entities. The instructions emphasise the specific items applicable to each approval process. These instructions are sent to the statutory auditors for information. Training in both methodology and operations is given regularly to everyone 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 electronic 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; ❯ verifying 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 control Hierarchical control seeks to ensure that the principal items affecting the truthfulness and accuracy of the financial data, as well as the asset position and the profit/loss (parent company and consolidated) disclosed to the shareholders, are captured in the data presented. This control involves the use of several procedures: checking for consistency with the estimates and with any item 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); ❯ 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 parent company to the consolidated level. This set of parameters is tested regularly (particularly by republishing old scenarios). at the central level, additional controls are carried out. These mainly involve the necessary consistency of data among the various Group entities (such as for internal reciprocal transactions) and central transactions (conversion of foreign subsidiaries, consolidation entries, etc.). ❯ The control tests are documented in a review manual. at a second level, a series of automatic checks is built into the entities’ individual data ‑ gathering 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; ❯

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Universal Registration Document 2022 - GROUPAMA ASSURANCES MUTUELLES