Groupama // Universal Registration Document 2022

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FINANCIAL STATEMENTS Annual financial statements and notes

3.2 3.2.1 (a)

Investments Entry costs and valuation at year ‑ end

3.1.8 Inward reinsurance transactions Inward reinsurance transactions are recognised according to the terms of the Groupama Assurances Mutuelles reinsurance agreement with its regional mutuals, reinsurance treaties entered into mainly with the Group’s other entities and under the professional pools. Outward reinsurance and retrocessions Outward reinsurance, mainly to reinsurers outside the Group, on accepted risks or direct insurance is accounted for under the terms of the various treaties. They may be supplemented by estimates if the current accounts with those reinsurers are incomplete at the end of the fiscal year. The securities taken as collateral by the reinsurers (outward reinsurers or retrocessionaires) are recorded in the statement of commitments received and given. Pursuant to the reinsurance agreement, Groupama Assurances Mutuelles makes retrocessions with regional mutuals on various risks accepted or direct insurance; those transactions are recorded pursuant to the reinsurance agreement signed between Groupama Assurances Mutuelles and the regional mutuals. 3.1.9

Land and buildings, shares in real ‑ estate investment companies (SCIs) Buildings and shares in unlisted SCIs are recorded at their purchase or cost price. In accordance with Article 213 ‑ 8 of the ANC regulation 2014 ‑ 03 on the French national accounting system, acquisition expenses (transfer taxes, professional fees and registration costs, etc.) are incorporated into the acquisition cost of the shell component of the asset to which they refer. Pursuant to Article 214 ‑ 9 of ANC regulation 2014 ‑ 03 on the French national accounting system, real properties are recorded by component. The four components considered by Groupama Assurances Mutuelles are the following:

bare structure or shell; ❯ wind- and water ‑ tight facilities; ❯

technical facilities; ❯ fixtures, finishings. ❯

The lifespan and rate of amortisation of each component depend on the period of foreseeable use of the component and the nature of the real ‑ estate property. Because the residual value of the bare structure component cannot be measured in a sufficiently reliable fashion, it is therefore not determined, and that component is amortised based on the acquisition cost.

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Universal Registration Document 2022 - GROUPAMA ASSURANCES MUTUELLES