Groupama // Universal Registration Document 2022

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FINANCIAL STATEMENTS Annual financial statements and notes

Note 10 Subordinated liabilities

“Subordinated liabilities”, which stood at €3,006.4 million at 31 December 2022, is detailed as follows: perpetual subordinated debt in euros issued in May 2014 at a fixed rate of 6.375% until the first call date for a par value of €1,100 million, with the possibility for Groupama Assurances Mutuelles to apply an early redemption from May 2024. A partial redemption of a nominal amount of €228.9 million took place in October 2022; ❯ TSR issued in September 2018 for a nominal value of €500 million at a fixed rate of 3.375% for a 10 ‑ year term and for which the issue premium is recorded as a deduction from the nominal value issued and amortised on a straight ‑ line basis over the life of the bond; ❯

TSR issued in September 2019 at a fixed rate of 2.125%, with a term of ten years and a nominal value of €500 million; ❯ TSR issued in January 2017 for a nominal value of €650 million at a fixed rate of 6% over a period of ten years. The nominal difference remaining to be amortised as at 31 December 2022 was €6.2 million; ❯ TSR issued in July 2021 for a nominal value of €500 million at a fixed rate of 0.75% for a 7 ‑ year term and for which the issue premium is recorded as a deduction from the nominal value issued and amortised on a straight ‑ line basis over the life of the bond. In addition, this issue was carried out for the first time in a “green” format and will therefore be backed by projects in favour of the ecological and energy transition. ❯

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Universal Registration Document 2022 - GROUPAMA ASSURANCES MUTUELLES