Groupama // Universal Registration Document 2022

7

FINANCIAL STATEMENTS Combined financial statements and notes

Held ‑ for ‑ sale business activities

Note 3

3.1 Held ‑ for ‑ sale business activities The Group has entered into an agreement to sell all its activities in Turkey ( i.e. its subsidiaries Groupama Sigorta, Groupama Hayat, and Groupama Investment Bosphorus). Therefore, in accordance with IFRS 5, Groupama Sigorta, Groupama Hayat, and Groupama Investment Bosphorus are considered as held ‑ for ‑ sale businesses. The application of the principles of IFRS 5 has the following effects on the financial statement at 31 December 2022:

on the income statement: the results of the Turkish subsidiaries are presented for an amount net of tax on the “Net income from discontinued or held ‑ for ‑ sale activities” on the income statement; ❯ on the balance sheet, assets and liabilities (excluding shareholders’ equity and securities liaison accounts) are reclassified to the “Held ‑ for ‑ sale assets and discontinued businesses” and “Liabilities from discontinued or held ‑ for ‑ sale activities” lines of the balance sheet ❯

31.12.2022

31.12.2021

(in millions of euros)

Intangible assets

2

2

Insurance business investments

126

139

Investments in related companies Share of outward reinsurers and retrocessionnaires in liabilities relating to insurance and financial contracts

25

20

Other assets

97

59

Cash and cash equivalents

31

16

ASSETS HELD FOR SALE AND DISCONTINUED BUSINESS ACTIVITIES

281

236

Shareholders’ equity (Group share)

(8)

21

Minority interests Total shareholders’ equity from business activities

(8)

21

Reserves for contingencies and charges

3

1

Financing debts Underwriting liabilities relating to insurance policies Underwriting liabilities relating to financial contracts Deferred profit ‑ sharing liabilities Other liabilities

269

202

17

13

SHAREHOLDERS’ EQUITY AND LIABILITIES FROM HELD ‑ FOR ‑ SALE OR DISCONTINUED BUSINESSES

281

236

31.12.2022

31.12.2021

(in millions of euros)

Earned premiums

151

141

Investment income net of management expenses

31

40

Other current operating income and expenses

(216)

(196)

Current operating income

(34)

(14)

Other operating income and expenses

(1)

(1)

Operating income

(34)

(15)

Financing expenses Share in income of related companies Corporate income tax OVERALL NET INCOME

(34)

(17)

of which, minority interests OF WHICH, NET INCOME (GROUP SHARE)

(34)

(17)

206

Universal Registration Document 2022 - GROUPAMA ASSURANCES MUTUELLES