Groupama // Universal Registration Document 2022

7

FINANCIAL STATEMENTS Annual financial statements and notes

The following table shows the depreciation times and shares by type of property:

House and office before 1945

House and office after 1945

Offices or residential high ‑ rises

Components

Retail

Period Percentage

Period Percentage

Period Percentage

Period Percentage

Building shell

120 years

65% 80 years

65% 50 years

50% 70 years

40%

Frame, beams, columns, floors, walls Wind- and water ‑ tight facilities

35 years

10% 30 years

10% 30 years

10% 30 years

20%

Roof ‑ terrace Facades Covering

External woodwork Technical facilities

25 years

15% 25 years

15% 20 years

25% 25 years

25%

Lifts Heating/Air conditioning Networks (electrical, plumbing, etc.) Fixtures, finishings

15 years

10% 15 years

10% 15 years

15% 15 years

15%

Int. improvements

(b) At each closing, the valuation portion of the share (or units) is compared with the NBV of that share (or unit). A reserve for impairment is recorded where appropriate. Fixed ‑ income securities Bonds and other fixed ‑ income securities under Articles R. 343 ‑ 9 and R. 343 ‑ 10 of the French Insurance Code are recorded at their purchase price, net of accrued interest at the time of purchase. The difference between the purchase price and the redemption value is reported on the income statement over the remaining term until the repayment date, using actuarial methods in most cases. An amortisation of the premium or discount is recorded up to the time of transfer in the year the fixed income marketable securities are sold. Accrued interest is recognised in the balance sheet under asset accruals. Inflation ‑ linked change in the redemption value of bonds that are indexed on the general price levels is posted to income. the capital gain or loss on fixed assets. Fixed assets are valued on the basis of five ‑ year appraisals reviewed annually and carried out by independent appraisers. ❯ The realisable value of units in unlisted property companies is equal to the Groupama Assurances Mutuelles share in the revalued net assets of that company. The valuation is determined based on the following: the shareholders’ equity of the property or real estate company as of 31 December; ❯

(c) The redemption value recorded at the close is the most recent quoted price at the inventory date. For unlisted securities, it is the market value resulting from the price that would be obtained under normal market conditions and depending on their utility to the Company. Equities and other variable ‑ income securities (including equity securities) Shares and other variable ‑ income securities under Article R. 343 ‑ 10 of the French Insurance Code are recorded at their purchase price excluding accrued interest. In accordance with the provisions of ANC regulation 2014 ‑ 03 relating to the general accounting code (Art 221 ‑ 1/213 ‑ 8), Groupama Assurances Mutuelles chose the accounting option allowing it to incorporate acquisition costs into the cost price of equity interests and to recognise, in its accounting, accelerated amortisation over five years. The realisable value retained at statement closing corresponds: for listed securities, as a general rule, the last price listed on the day of the inventory; ❯ for unlisted securities, to the market value corresponding to the price that would be obtained under normal market conditions based on their usefulness for the Company; ❯ for shares of variable ‑ capital investment companies and shares of mutual funds, the last purchase price published on the day of the inventory. ❯

314

Universal Registration Document 2022 - GROUPAMA ASSURANCES MUTUELLES