Groupama // Universal Registration Document 2022

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FINANCIAL STATEMENTS Combined financial statements and notes

2 Combination principles, methods, and scope

2.1 Explanatory note Groupama Assurances Mutuelles is an agricultural mutual reinsurance company with national competence, a special ‑ form mutual insurance company, wholly owned by the agricultural mutual insurance and reinsurance regional mutuals and the specialised mutuals (“regional mutuals”). “Groupama Assurances Mutuelles” is its usual name. Its corporate name is “Caisse Nationale de Réassurance Mutuelle Agricole Groupama”. The Company is domiciled in France. Its headquarters are located at 8 ‑ 10, rue d’Astorg, 75008, Paris, France. The primary functions of Groupama Assurances Mutuelles, the central unit of the Groupama network, the regional mutuals’ sole reinsurer and parent company of the Groupama group are as follows: to ensure the cohesion and proper operation of the Groupama network; ❯ to ensure the application of the legislative and regulatory provisions relating to the organisations within the network; ❯ to exercise administrative, technical, and financial control over the structure and management of the organisations within the Groupama network; ❯ to define and implement the operational strategy of Groupama group in collaboration with the regional mutuals and in line with the strategies defined by the Mutual Insurance Advisory Board; ❯ to reinsure the regional mutuals; ❯ to direct all subsidiaries; ❯ to establish the external reinsurance programme for the entire Group; ❯ to take all necessary measures to ensure the solvency and meeting of commitments of each of the organisations within the network and of the entire Group; ❯ prepare the combined financial statements. ❯ The Company’s business activities are governed by the provisions of the French Commercial Code and the French Insurance Code and are subject to the supervision of the French Prudential Control Authority (ACPR). The combined financial statements relate to Groupama group and include all local mutuals, regional mutuals, Assurances Mutuelles, and its subsidiaries. The Groupama group is a major insurance player in France for property and casualty insurance as well as life and health insurance and financial businesses. It also has an international presence.

The various entities of the Group are connected:

2.2 The combined financial statements as at 31 December 2022 were approved by the Board of Directors, which met on 16 March 2023. For the purposes of preparing the combined financial statements, the financial statements of each combined entity are prepared consistently in accordance with the International Financial Reporting Standards and the interpretations applicable as at 31 December 2022, as adopted by the European Union, the main aspects of Groupama’s application being described below. Subsidiaries, joint ventures, and related companies of the combination scope are consolidated within the scope in accordance with the provisions of IFRS 10, IFRS 11, and IAS 28. However, no IFRS standard specifically deals with the methods for aggregating the financial statements of entities forming the Mutual Insurance Division (local mutuals and regional mutuals). The Group has therefore adopted the combination rules defined in Title II of Book III of Regulation No. 2020 ‑ 01 of the French Accounting Standards Authority relating to the specific provisions of the combined financial statements of insurance companies. This choice was made in accordance with the judgement criteria of Article 10 of IAS 8 (on the selection and application of accounting policies in the absence of a standard or an interpretation that is specifically applicable) owing to the characteristics of Groupama’s Mutual Insurance Division as described above. within the Groupama Assurances Mutuelles Division, by capital ties. In exchange for a certain degree of operational autonomy, each of the subsidiaries is subject to the requirements and obligations defined by the Groupama Assurances Mutuelles environment, particularly in terms of control; ❯ in the Mutual Insurance Division: ❯ by an Internal Reinsurance treaty that binds the regional mutuals to Groupama Assurances Mutuelles, ■ by a security and solidarity plan between all the regional mutuals and Groupama Assurances Mutuelles. ■ General presentation of the combined financial statements

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Universal Registration Document 2022 - GROUPAMA ASSURANCES MUTUELLES