Zurich Insurance Group Ltd · SIX:ZURN

Zurich Insurance — Non-Deal Roadshow (November 2025)

52 slides from Zurich Insurance's roadshow presentation, November 2025

Slide 1: 2025 Chairman's Roadshow
2025 Chairman’s Roadshow Michel Liès, Chairman of the Board November 2025 Investor presentation Zurich Insurance Group © Zurich
Slide 2: Content
Content Strategy 3 Responsible Investment 31 Corporate Governance 8 Decarbonizing Operations 36 Remuneration 11 Data Privacy and Protection 39 Our Sustainability Approach 17 Artificial Intelligence 41 Insuring the Transition 25 People 44 Communities 47 November 2025 2025 Chairman Roadshow 2 © Zurich
Slide 4: Key messages
Key messages Successful start On track to deliver on our 2025-2027 targets through disciplined strategy execution to new cycle Driving structural growth in Middle Market, Specialty and Life Protection, leveraging competitive Structural growth advantages and a proven track record Retail upturn Retail
Slide 5: Executing on our 2025-2027 priorities
Group update Executing on our 2025-2027 priorities Business targets Financial targets • BOP >USD 4.2bn in FY-27 Commercial • Middle Market GWP1 >USD 10bn in FY-27 Cash • Return to long-term level of profitability Core EPS2 remittances Retail Core ROE3 • Accelerate focus on customer loyalization >USD
Slide 6: Strategic focus rooted in market opportunities
Group update Strategic focus rooted in market opportunities Market dynamics Strategic response Prioritize growth opportunities in Middle Market Infrastructure and Regionalization Commercial and Specialties and maintain strong profitability defense investments of trade Accelerate focus on customer lo
Slide 7: On track to deliver 2025-2027 targets
Group update On track to deliver 2025-2027 targets Core ROE (%)1 Cash remittances (USDbn) Core EPS growth (%)2 SST (%)3 26.3% >19 51.9 257% >23% 40.1 ≥160% H2 19.8 H1 20.3 21.7 HY-25 Target FY-25e Target 2024 2025 2027 target 9M-25e Floor 2025-2027 2025-2027 baseline (>9% CAGR) 1 Business operating
Slide 9: A diverse and independent Board, well positioned to support management
Corporate Governance A diverse and independent Board, well positioned to support management delivery on strategic priorities Board composition1 Board by length of tenure1 Singapore 7% Female Germany 20% Switzerland 42% 40% 25% 75% 58% 7% Less than 5 years Between 5 and 12 years Male Ireland 20% 7% U
Slide 10: Board leadership and commitment to key strategy and policy issues
Corporate Governance Board leadership and commitment to key strategy and policy issues Key focus areas in 2024-2025 2024 Board meeting attendance1 Board 95% Delivery on strategic priorities for the cycle Audit Committee 92% 2023-2025, including regional developments Risk & Investment Committee 98% G
Slide 12: Zurich's Total Rewards philosophy creates lasting value for shareholders
Remuneration Zurich’s Total Rewards philosophy unleashes potential and creates lasting value for our shareholders Outstanding achievements • Record FY-24 performance: BOP of USD 7.8bn, dividend of CHF 28 and a core ROE of 24.6%. Staying Pay for Enhancing • Secured strategic acquisitions to unlock co
Slide 13: Zurich has created significant value for shareholders
Remuneration Zurich has created significant value for shareholders Total shareholder return (USD) Dividend per share (CHF) (Indexed to 100% as of January 1, 2016)1 550% 496% 500% 450% 28 +6% CAGR 26 400% 24 22 350% 20 20 297% 19 18 300% 17 247% 250% 200% 150% 100% 50% FY-16 FY-17 FY-18 FY-19 FY-20 F
Slide 14: Reward structure aligned with shareholder value creation
Remuneration Reward structure aligned with shareholder value creation 2024 remuneration structure Fixed remuneration / fees - Facing a competitive market for critical skills • Base salary benchmarked towards relevant market median. Directors CEO1 • Pensions and benefits in line with relevant market
Slide 15: ExCo and CEO STIP supporting Group strategy and annual targets
Remuneration ExCo and CEO STIP supporting Group strategy and annual targets 2024 ExCo STIP pool metric 2024 CEO target card framework Financials 50% Customers 40% People 10% Group BOP 100% + Consideration of the execution against strategic priorities, including sustainability factors and a risk-base
Slide 16: LTIP metrics driving strategic priorities over three years
Remuneration LTIP metrics driving strategic priorities over three years Introducing new and rebalanced performance metrics in 2025 to strengthen alignment with shareholder interests and sustainability goals LTIP vesting level determination for 2022-2024 LTIP vesting grid for 2025-2027 performance pe
Slide 18: Key messages
Key messages We use our expertise as a risk manager, risk carrier and an investor to enhance resilience to natural, Sustainability strategy societal, economic and financial risks Our priorities are based on financial materiality and ensure strategic actions for mitigating Financial materiality risks
Slide 19: Our sustainability approach is driven by sound risk management
Our sustainability approach Our sustainability approach is driven by sound risk management, societal expectations, legal and transparency requirements Risk management Societal expectations Legal and regulatory requirements Deploy effective risk management in order Support the social transformation r
Slide 20: Our materiality assessment deepens our understanding
Our sustainability approach Our materiality assessment deepens our understanding of sustainability risks and opportunities Zurich’s CSRD-aligned Top 5 material issues: Material issues Double Materiality Matrix1 addressed through: Climate mitigation • Our Strategic Sustainability Climate adaptation F
Slide 21: Sustainability framework underpinned by ambition and targets
Our sustainability approach Sustainability framework underpinned by qualitative ambition and quantitative targets Customer Planet People Support transformation towards a Mitigate and adapt to climate Future proof our people and more sustainable future change enable more to thrive Grow sustainable re
Slide 22: In our Climate Transition Plan we focus on enabling net-zero
Our sustainability approach In our Climate Transition Plan we focus on enabling the net-zero transition while building resilience to evolving risks Our approach Selected achievements Longer-term in 2024 commitments Achieve net-zero by 2030 for operational +25% GWP, fees and net emissions (USD flows
Slide 23: Solid governance in place to secure execution
Our sustainability approach Solid governance in place to secure execution Sustainability is embedded in our governance framework Sustainability in remuneration Board strategic • GNSC1: oversight of sustainability strategy and objectives 2025-2027 Long-term incentive plan (LTIP)2 • Audit committee: s
Slide 24: We continuously enhance our sustainability reporting
Our sustainability approach We continuously enhance our sustainability reporting in line with legal and regulatory requirements Group 20211 2022 2023 2024 2025 level • Focus on enhancing • Launched Integrated • Reasonable assurance • 1st shareholders’ advisory • Publication of first Climate Sustaina
Slide 26: We have set 2030 interim targets for our insurance business
Insuring the transition We have set 2030 interim targets for our insurance business, on our journey to net zero Engagement Insuring the transition Support real-world emission reduction Engage with customers to understand and Profitably expand our range of sustainable Reduce the Insurance Associated
Slide 27: We evaluate transition plans of our customers
Insuring the transition We evaluate transition plans of our customers using our framework, then engage with them Engaging to inform where we need to develop expertise and solutions ‘ACDC’ framework to evaluate our customers’ transition plans Better understand customer’s transition ambitions and plan
Slide 28: Concrete examples of how Zurich is supporting customers
Insuring the transition Concrete examples of how Zurich is supporting customers as they transition Lead insurer for facility with Aon offering Construction liability for one of Europe’s integrated solution for clean hydrogen largest CCUS1 projects - transport & storage projects of CO2 from onshore i
Slide 29: Grow Zurich Resilience Solutions and expand climate risk prevention
Insuring the transition Grow Zurich Resilience Solutions and expand climate risk prevention and mitigation solutions Katoen Natie Rapidly growing renewable energy sector, opportunity to help customers to de-risk the transition Zurich Resilience Solutions Katoen Natie manages more than Modest investm
Slide 30: We are progressing on the pathway to net-zero in underwriting
Insuring the transition We are progressing on the pathway to reach net-zero in underwriting by 2050 2019 2022 • Strengthened thermal • Refreshed sustainability coal, oil sands and oil guidelines for shale position underwriting Annual reporting on progress and periodic setting of interim targets 2021
Slide 32: We are delivering on our interim investment portfolio targets
Responsible investment We are delivering on our interim investment portfolio targets Engagements Reduction of financed emissions Impact investments Listed equity and corporate bond Direct real estate investments Share of Group total invested investments emission intensity2 emission intensity3 assets
Slide 33: Climate solutions investment's purpose is to impact the real economy
Responsible investment Climate solutions investment’s purpose is to impact the real economy Climate solutions investment breakdown Illustration- Supporting Zurich’s City transition 10.4 9.3 0.1 0.4 8.1 8.2 8.2 0.1 0.5 7.4 0.6 0.6 0.6 0.1 0.1 0.1 5.4 0.1 0.5 5.2 3.1 3.8 4.5 4.0 • Invested CHF 10m in
Slide 34: We reduced financed emissions intensity through portfolio actions
Responsible investment We reduced financed emissions intensity mainly through our portfolio actions We measure and report Sovereign Bond related Drivers of the reduction in listed equities and corporate bonds CO2e emissions1 emission intensity 2019-2024 Million tons CO2e / USDm 136 36 25 13 62 In 20
Slide 35: Progressing on our journey to net-zero in investments by 2050
Responsible investment We are progressing on our journey to reach net-zero in investments by 2050 2019 2024 • Founding member of the 1st set of interim targets met (2025 targets): UN-convened Net-Zero 2022 • 54% intensity reduction of financed Asset Owner Alliance • Set 5% impact corporate emissions
Slide 37: Progressing on operational carbon emissions reduction targets
Decarbonizing operations We are progressing on our operational carbon emissions reduction targets while decarbonizing the supply chain Operational carbon emissions1,2 Decarbonizing our supply-chain 2024 CO2e in thousand metric tonnes -69% 180.8 75% of managed procurement spend3 (MPS) with suppliers
Slide 38: A clear pathway to net-zero in our operations by 2030
Decarbonizing operations We have a clear pathway to net-zero in our operations1 by 2030 2014 2020 2022 2029 Started carbon neutrality New emissions 100% renewable power 100% electric fleet in operations baseline and targets in across operations line with SBTi achieved2 2019 2021 2025 2030 First insu
Slide 40: Leading data privacy and information security
Data Privacy and protection We provide leading data privacy and information security for our customers and employees Principles of cybersecurity at Zurich Strong data commitment in line with best practice Cybersecurity measure and protocols aligned with • We keep your data safe Best the U.S. Nationa
Slide 42: Build competitive advantage and a game-changing future
Artificial Intelligence Build competitive advantage and a game-changing future by enhancing the performance of individuals, processes, and businesses Our Vision Our Strategy AI for Everyone AI at our Core AI for Future Elevate employees as Embed AI in our core Evolve new business valued knowledge in
Slide 43: Generative AI solutions are deployed across the value chain
Artificial Intelligence Generative AI solutions are deployed across the value chain, enabling increased growth and profitability Policy Claim Customer Employees Underwriting Distribution management Management Service Financial impact High Medium GenAI ZuriChat GuidelineIQ AgentIQ ProgramIQ ClaimsIQ
Slide 45: Our people in nearly 50 countries are at the core of our success
People At Zurich, our people in nearly 50 countries are at the core of our success Organization footprint North America EMEA Asia Pacific 18,052  25,832  9,161  62,824 Employees1 Women Men CC 50.7% 48.5% 1,688  31,846 30,450 Female Representation (%) Board of Directors Executive Committee Senior
Slide 46: Our strategy ensures we have the right people
People Our strategy ensures we have the right people to deliver our results, now and in the future People People An employer Sustainability aspiration priorities of choice Skilled, high-performing people – empower people to deliver exceptional results with professional excellence and a winning minds
Slide 47: Communities
Communities The Z Zurich Foundation is a Swiss-based charitable foundation established by members of the Zurich Insurance Group. It is the main vehicle by which Zurich Insurance Group delivers on its global community investment strategy 47 © Zurich
Slide 48: Z Zurich Foundation supports Zurich's sustainability ambitions
Communities Z Zurich Foundation supports Zurich to realize its sustainability ambitions at an unprecedented scale 2024 Approved CHF 35.7m investments in community 10.5m lives positively impacted via programming Employee1 engagement at new heights with 199k+ Highlights grants and 11 new multi-year vo
Slide 49: The Z Zurich Foundation is Zurich's main vehicle for community investment
Communities The Z Zurich Foundation is Zurich's main vehicle to implement its global community investment strategy The Foundation’s strategic pillars address major global issues for which we have a strong expertise and infrastructure Adapting to climate change Responding to crisis A major actor of c
Slide 50: Disclaimer and cautionary statement
Disclaimer and cautionary statement Certain statements in this document are forward-looking statements, including, but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives of Zurich Insurance Group Ltd or the Zurich Insurance Group (the Group). Fo
Slide 51: For further information
For further information Call us Visit or follow us Investor Relations and Rating Agency Management • Mitchell Todd +41 76 340 71 55 • Francesco Bonsante +41 44 628 00 68 • Samuel Han +41 44 625 32 57 • Johannes Herholdt +41 44 625 25 53 Investor Relations Financial results • Michèle Matlock +41 79 7

Zurich Insurance Group — Non-Deal Roadshow (November 2025) on 6ix

Zurich Insurance — Non-Deal Roadshow (November 2025)

Slide 1: 2025 Chairman's Roadshow

Slide 2: Content

Slide 3: Strategy in action

Slide 4: Key messages

Slide 5: Executing on our 2025-2027 priorities

Slide 6: Strategic focus rooted in market opportunities

Slide 7: On track to deliver 2025-2027 targets

Slide 8: Corporate Governance

Slide 9: A diverse and independent Board, well positioned to support management

Slide 10: Board leadership and commitment to key strategy and policy issues

Slide 11: Remuneration

Slide 12: Zurich's Total Rewards philosophy creates lasting value for shareholders

Slide 13: Zurich has created significant value for shareholders

Slide 14: Reward structure aligned with shareholder value creation

Slide 15: ExCo and CEO STIP supporting Group strategy and annual targets

Slide 16: LTIP metrics driving strategic priorities over three years

Slide 17: Our Sustainability Approach

Slide 18: Key messages

Slide 19: Our sustainability approach is driven by sound risk management

Slide 20: Our materiality assessment deepens our understanding

Slide 21: Sustainability framework underpinned by ambition and targets

Slide 22: In our Climate Transition Plan we focus on enabling net-zero

Slide 23: Solid governance in place to secure execution

Slide 24: We continuously enhance our sustainability reporting

Slide 25: Insuring the Transition

Slide 26: We have set 2030 interim targets for our insurance business

Slide 27: We evaluate transition plans of our customers

Slide 28: Concrete examples of how Zurich is supporting customers

Slide 29: Grow Zurich Resilience Solutions and expand climate risk prevention

Slide 30: We are progressing on the pathway to net-zero in underwriting

Slide 31: Responsible Investment

Slide 32: We are delivering on our interim investment portfolio targets

Slide 33: Climate solutions investment's purpose is to impact the real economy

Slide 34: We reduced financed emissions intensity through portfolio actions

Slide 35: Progressing on our journey to net-zero in investments by 2050

Slide 36: Decarbonizing Operations

Slide 37: Progressing on operational carbon emissions reduction targets

Slide 38: A clear pathway to net-zero in our operations by 2030

Slide 39: Data Privacy and Protection

Slide 40: Leading data privacy and information security

Slide 41: Artificial Intelligence

Slide 42: Build competitive advantage and a game-changing future

Slide 43: Generative AI solutions are deployed across the value chain

Slide 44: People

Slide 45: Our people in nearly 50 countries are at the core of our success

Slide 46: Our strategy ensures we have the right people

Slide 47: Communities

Slide 48: Z Zurich Foundation supports Zurich's sustainability ambitions

Slide 49: The Z Zurich Foundation is Zurich's main vehicle for community investment

Slide 50: Disclaimer and cautionary statement

Slide 51: For further information

Slide 52: November 2025 © © Zurich Zurich