Meritz Financial Group Inc. · KRX:138040

Meritz Financial — Q2 2026 Earnings Presentation

25 slides from Meritz Financial's earnings presentation, August 2026

  1. Slide 1: Meritz Financial Group 2Q26 Earnings Result

    meritz Financial Group 2Q26 Earnings Result Meritz Financial Group August 2026

  2. Slide 2: Agenda

    Agenda |. Group Overview 02 Il. 2Q26 Highlight 03 Il1.2Q26 Earnings Result 04 IV. Group Real Estate Finance Portfolio 08 V. Corporate Value-up Plan _ 09 VI. Key Affiliate Performance =——————————«<i7'.

  3. Slide 3: Group Overview

    1. Group Overview Vv Governance - 2026.6 Meritz Financial Group 100% Meritz Fire & Marine 51% Meritz Korindo ‘vV Company Overview CEO Date of Establishment /Listed Date Issued shares [Treasury Shares Market Capitalization Credit Rating Kim Yong Beom 2011.03 / 2011.05 100% Meritz Securities 100% Meri

  4. Slide 4: 2Q26 Highlight

    Il. 2Q26 highlight 1.47%tn won 26.8% 148.5tn won 2.0% YoY YoY YTD YTD +8.3% +0.1%p +9.7% +0.2%p 8, 589won 68,642won YoY YoY +16.2% +19.3% MEFPItZ Financial Group 3

  5. Slide 5: Meritz Financial Group Earnings Result

    lll. Meritz Financial Group Earnings Result ¥ Financial Summary --0::0\0::- WY Net Income ay »)- consoiaates (KRWbn) 226-1926 2q25 OQ YOY ting a5 YOY (%) (%) (%) Insurance Income 202 174 213 16.0% -5.3% 376 418 = -10.3% Insurance 9 o, 9 Rove «= «2,614 2,563 2,399 2.0% 9.0% 5177 4779 8.3% Insurance 2

  6. Slide 6: Meritz Financial Group Earnings Result: Major Affiliates

    lll. Meritz Financial Group Earnings Result Combined Separate Net Income of Major Affiliates |W Major Affiliate Net Income -<<p2:: KRW1,358.4bn KRW1,471.6bn ' ' (bn won) 2Q26 YTD 2Q25 YTD YoY Capital Insurance 1,024.3 987.3 3.8% Securities wae 2Q25 Securities* 522.0 436.0 19.7% Capital 86.0 73.0 17.

  7. Slide 7: Consolidated and Separate Assets, Liabilities, Equity

    lll. Meritz Financial Group Earnings Result ¥v [Consolidated] Total Assets KRW148.5tn , Total Lial ies KRW135.8tn, Shareholder’s Equity KRW 12.8tn Asset Liability Shareholder's (KRV equity +13,090 (+9.7%) +11,562 (+9.3%) +1,528 (+13.6%) 195,458 124,197 11,261 2025 2Q26 2025 2Q26 2025 2Q26 ¥v [Separa

  8. Slide 8: ROE, ROA, EPS, Debt Ratio, BPS

    lll. Meritz Financial Group Earnings Result Vv ROE & ROA yp —®- ROE —® ROA 31.8% 27.0% 23.7% 22.7% 26.8% — —o—____» - —° 2.1% 2.1% 18% 2.0% 2022 2023 2024 2025 2Q26 2) 22AS [FRSA IB, XluHOlOl (Mb 3! Ab (AIeH) BRE 1 VEPS- yi KRW) 10,967 12,238 (ele 8,356 2022 2023 2024 2025 2Q26 Note) Weighted averag

  9. Slide 9: Group Real Estate Finance Portfolio

    lll. Group Real Estate Finance Portfolio(es 0: sune 2026) ¥v Real Estate Finance Exposure «ewin) ‘W Exposure in details (xawin) 'W Credit loss expense (KRW bn) Provision/Reserve Impairment 25.9 ~~ PF Bs Commercial Bridgeloan | 3.3 . Securedloan 6.1 17 Residential Domestic 2Q25 = 2Q26 2Q25 = 2Q26 Dom

  10. Slide 10: Corporate Value-up Plan

    ✓ → ✓ ✓ 1 ** 1 = = 16.4% COE = 10% 𝑓𝑤𝑑 𝑃𝐸𝑅 6.1 ∙

  11. Slide 11: Corporate Value-up Plan: COE and ROE

    • • ∙ ∙ 1 ** 1 = = 16.4% > COE* = 10% ∙ 𝑓𝑤𝑑 𝑃𝐸𝑅 6.1 ∙ ∙

  12. Slide 12: Shareholder Return Formulas

    End price − Inital price +Dividend per share x 100 Inital Price Share buyback +Cash dividend x 100 Net Income

  13. Slide 13: F&M Financial Summary

    VI. Key Affiliate Performance — Meritz F&M Vv Financial Summary _: QoQ YoY YoY (KRW bn) 2Q26 = 1Q26 2Q25 (%) (%) 1H261H25 (%) Insurance Profit 363 335 364. 8.5% -0.4% 698 724 -3.7% Long-term Profits 333 316 331 55% 0.7% 649 700 -7.3% CSM 5 5 9 ‘Amortization 322 304 287) 5.8% 12.2% 626 574 8.9% RA 51

  14. Slide 14: F&M CSM Movement and New Business

    VI. Key Affiliate Performance — Meritz F&M VV 2Q26 CSM MOVEMENT V 1H26 CSM MOVEMENT [I] ae 0.18 LJ L| 12.12 -0.32 0.89 | . 0.45 0.09 0.63 11.29 L 11.10 1Q26 CSM New Interest Adjustment CSM 2Q26 CSM 2025 CSM New Interest Adjustment CSM 1H26 CSM business Expense Amortization business Expense Amortizat

  15. Slide 15: F&M Sales, Premiums, Loss Ratio

    VI. Key Affiliate Performance — Meritz F&M V Long-term New Sales (2\o5)— wee ll Property Health 71.2 G2.0%> 590 afk te 30.2 36.5 az 0) 70.3 58.1 29.8 36.0 2Q25 2Q26 1H25 1H26 Vv Gross Premium by line -yi5 Auto Commercial 61% 9.7% KRW6.3tn Long-term Y LT Health New sales by channel - vio PA ™ 11.8% K

  16. Slide 16: F&M Investment Yield and Portfolio

    VI. Key Affiliate Performance — Meritz F&M ¥v Investment Yield i> 5.5% 5.6% 47% 5.4% 7h 6.0% 2Q25 3Q25 4Q25 1Q26 Note) Based on K-IFRS17, Including Retirement pension(excluding expenses) & Excluding insurance finance income & expenses V Domestic Bond Portfolio Financial 11.3% Corporate KRW14.8tn Age

  17. Slide 17: F&M Solvency Ratio (K-ICS)

    VI. Key Affiliate Performance — Meritz F&M ¥V Solvency Ratio (K-ICS Ratio) 239.8% 243.7% 241.3% 240.7% _ —e- a o—__2310% 2Q25 3Q25 4Q25 1Q26 2Q26 V 2Q26 K-ICS Ratio 231.0% (e) (KRW bn) 2Q25 3Q25 4Q25 1Q26 2Q26(e) Solvency 13,396 13,790 13,351 13,905 14,543 Guideline 5,585 5,659 5,532 5,779 6,296 K-I

  18. Slide 18: Securities Financial Summary

    V. Key Affiliate Performance — Meritz Securities YW Financial Summary - «0 (KRW bn) 2026 1926 2@25 (YOY aH26 1H25 OY O 2Q26 Net profit KRW260bn(+1.4% YoY) Net operating 538 527 533 2.0% 0.8% 1,065 871 22.2% Achieved solid performance driven by earnings improvements in consolidated evenue subsidiarie

  19. Slide 19: Securities Financial Summary Detail

    V. Key Affiliate Performance — Meritz Securities ¥ Financial Summary (KRW bn) 2026 1026 2025 fy) ey 1H26 1H25 Yay Net operating revenue 559 613 481 -8.9% 16.1% 1,172 934 25.4% investment banking 82 139 105 -41.4% -21.9% 221 210 5.2% interest income 118 15 122 2.3% -3.5% 234 236 -1.1% Trading, etc 26

  20. Slide 20: Securities Net Interest Income and IB Revenue

    V. Key Affiliate Performance — Meritz Securities VY Net Interest Income ¥ Investment Banking Net Revenue 163 122 5 139 98 . . a : 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 Y Financial Guarantee Liability kewt) W Interest-Earning Asset (KRW tn) 187% 5.9 6.0 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25

  21. Slide 21: Securities Trading Income and Portfolio

    V. Key Affiliate Performance — Meritz Securities ¥Y Net Trading Income (xawoy) 'W Trading Asset Portfolio (KRW'tn) 48.4 477 43.2 ait 231 225 ~ 9.0 m m al 17 ’ 6.0 79 78 88 2Q25 3025 4925 1026 2Q26 2925 3025 4025 1026 2026 IM stock [ll Bond Collective investment securities Others Note) Excluding Capi

  22. Slide 22: Securities Brokerage and Wealth Management

    V. Key Affiliate Performance — Meritz Securities ¥v Brokerage Net Revenue ««ewen) W Wealth Management Net Revenue 118.3 476,072 526,567 431,576 : 84.9 . 278,176 321,192 28 313 45.6 : 39 59 12 7 20 aA 25 25 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 Brokerage net revenue Market daily average t

  23. Slide 23: Securities Net Capital Ratio and Loan Loss Provision

    V. Key Affiliate Performance — Meritz Securities ¥Y Net Capital Ratio(NCR) & Leverage Ratio ¥ Provision for Loan Loss (KRW bn) 2025 3Q25 «= 4Q25)s«1Q26 = 2Q26 (KRW bn) 2Q25 3025 «4Q25- 126 = 2Q26 NCR ((A-B)=C) 1152% 1354% 1470% 1638% + 1886% 23,308 30,085 21,201 28,606 ~=—-29,117 Net operating capit

  24. Slide 24: Capital Income Statement and Key Financials

    V. Key Affiliate Performance — Meritz Capital Vv Condensed Income Statement corssiasies Vv Key Financial Breakdown QoQ YoY YoY KRW bi 2Q26 1026 2Q25 1H26 1H25 (! in) Q: Q: Q: (%) (%) (%) Total Assets Operatingrevenue «236-238-247 -0.8% -4.7% 473 453 «4.4% Loan interests 93 100 114 64% 18.4% 193 212

  25. Slide 25: Thank you.

    Thank you.

Meritz Financial Group — Q2 2026 Earnings Presentation on 6ix