Groupama announces the launch of the sale of its stake in Veolia Environnement

THIS PRESS RELEASE SHOULD NOT BE DISTRIBUTED INTO THE USA

Groupama announces the launch of the sale of its stake in Veolia Environnement

Groupama has launched, via an institutional private placement by way of an accelerated bookbuilding, the sale of up to 28,396,241 Veolia Environnement shares, representing approximately 5.05 per cent of the share capital of the company.

The bookbuilding will start immediately; the results of the private placement will be announced after the close of the bookbuilding process.

Following the placement, Groupama SA and its subsidiary Gan Assurances will keep together 552,000 Veolia Environnement shares.

This sale forms part of the group's policy to diversify its assets, which Groupama announced in 2011. This transaction does not reflect in any way an appreciation of the strategy or of the management of Veolia Environnement.

This press release does not constitute an offer to sell or a solicitation to buy any securities, and the offer of Veolia Environnement shares by Groupama does not constitute a public offering

Disclaimer

This announcement is for information purposes only and does not constitute an offer to sell or a solicitation to buy any securities, and the offer of Veolia Environnement shares by Groupama does not constitute a public offering in any jurisdiction, including in France.

This communication is for distribution in the United Kingdom only to (i) investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) high net worth entities and other persons to whom it may lawfully be communicated, falling within article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons").

The offer and sale of the securities referred to in this announcement has not been, nor will be, registered under the United States Securities Act of 1933 (the "Securities Act") and the securities may not be offered or sold in the United States absent such registration or an applicable exemption from the registration requirements of the Securities Act. There will be no public offering of the securities in the United States in connection with this transaction.

Any investment decision to buy shares in Veolia Environnement must be made solely on the basis of publicly available information regarding Veolia Environnement. Such information is not the responsibility of Groupama.

Release, publication or distribution of this press release is forbidden in any country where it would violate applicable laws or regulations