Slide 1: CNMV Other Relevant Information notice
Madrid, July 24, 2025 SPANISH SECURITIES AND EXCHANGE COMMISSION (CNMV) In accordance with article 227 of Law 6/2023, of March 17, on the Securities Market and Investment Services, MAPFRE, S.A. (MAPFRE) hereby gives notice to the Spanish Securities and Exchange Commission of the following OTHER RELE
Slide 2: Activity Update 6M 2025 Analyst & Investor Presentation
Activity Update 6M 2025 Analyst & Investor Presentation July 24th 2025 1
Slide 3: Disclaimer
DISCLAIMER MAPFRE S.A. (MAPFRE) hereby informs that, unless stated otherwise, the figures and ratios in this activity presentation are presented under the accounting principles in force in each country (which generally do no apply IFRS 17&9), homogenized for comparison and aggregation between units
Slide 4: Solid half year results on the back of strong improvements in technical management
ACTIVITY UPDATE – 6M 2025 Solid half year results on the back of strong improvements in technical management PREMIUMS NON-LIFE COMBINED RATIO €15,947 mn +5.3% +10,2% at constant exchange rates 93.1% -2.6p.p. NON-LIFE €12,273 mn +2.5% LIFE €3,675 mn +15.7% CLAIMS 66.0% -2.3 p.p. +7.5% at constant exc
Slide 5: Implementation of Strategic Plan on track, with strong performance in core businesses
ACTIVITY UPDATE – 6M 2025 Implementation of Strategic Plan on track, with strong performance in core businesses IBERIA Highly diversified with relevant General P&C and Life contributions €239 mn +42.4% Improved technical management Strong recovery of Motor combined ratio (98.4%) LATAM Excellent perf
Slide 6: IFRS Main KPIs
IFRS MAIN KPIs IFRS Homogenized local accounting 6M 2024 6M 2025 ∆% 6M 2024 6M 2025 ∆% Premiums - - - 15,145 15,947 5.3% Insurance revenue* 12,712 13,165 3.6% - - - Combined ratio 93.6% 91.1% -2.5 p.p 95.7% 93.1% -2.6 p.p Loss ratio 66.2% 64.0% -2.2 p.p 68.2% 66.0% -2.3 p.p Expense ratio 27.4% 27.1%
Slide 7: Key figures and ratios
ACTIVITY UPDATE – 6M 2025 KEY FIGURES AND RATIOS Regions and business units ROE 6M 2025 ∆% Premiums Net result Non-Life Combined ratio IBERIA 13.9% 2.5 p.p. BRAZIL 27.2% 1.3 p.p. 6M 2025 Δ% 6M 2025 Δ% 6M 2025 Δ% TOTAL LATAM 18.1% 0.2 p.p. IBERIA 6,010.5 12.9% 239.0 42.4% 96.0% -4.2 p.p. NORTH AMERIC
Slide 8: General P&C – Main regions
ACTIVITY UPDATE – 6M 2025 GENERAL P&C – MAIN REGIONS Key figures Premiums Attributable result Combined ratio 6M 2024 6M 2025 Δ% 6M 2024 6M 2025 6M 2024 6M 2025 MAPFRE GROUP 4,713 4,687 -0.6% v 188.8 195.4 83.2% 81.2% IBERIA 1,541 1,629 5.8% 73.8 64.6 94.9% 95.3% BRAZIL 1,348 1,254 -7.0% 70.2 85.9 68
Slide 9: Auto – Main regions
ACTIVITY UPDATE – 6M 2025 AUTO – MAIN REGIONS Key figures Premiums Insured units (mn) Attributable result Combined Ratio 6M 2024 6M 2025 Δ% 6M 2025 Δ% 6M 2024 6M 2025 6M 2024 6M 2025 MAPFRE GROUP 3,243 3,317 2.3% 12.84 -2.0% -19.0 89.2 104.8% 99.6% IBERIA 1,232 1,278 3.7% 5.78 -4.0% -28.8 37.1 106.1
Slide 10: Key figures – Life business
ACTIVITY UPDATE – 6M 2025 KEY FIGURES – LIFE BUSINESS Premiums > Insurance units Life technical-financial result 6M 2024 6M 2025 Δ YoY Total MAPFRE Group 388.9 347.0 -10.8% Insurance Units 381.5 326.2 -14.5% of which: IBERIA 147.9 98.8 -33.2% BRAZIL 182.3 176.7 -3.1% OTHER 51.3 50.6 -1.3% Total MAPF
Slide 11: Capital position & credit metrics
ACTIVITY UPDATE – 6M 2025 CAPITAL POSITION & CREDIT METRICS Capital structure Solvency II 12.31.2024 06.30.2025 %Δ YTD Total equity 9,603 9,611 0.1% 12.31.2024 03.31.2025 %∆ YTD Total debt 2,673 2,793 4.5% Solvency II ratio 207.4% 205.6% -1.9 p.p. Eligible Own Funds 10,077 10,051 -0.3% Senior debt 8
Slide 12: Assets under management
ACTIVITY UPDATE – 6M 2025 ASSETS UNDER MANAGEMENT Total assets under management Investment portfolio €45.7 bn €46.5 bn 06.30.2025 Δ Government fixed income 22.6 -1.9% Spain 9.4 -1.1% Rest of Europe 4.5 5.9% United States 1.7 -5.3% Brazil 2.8 0.7% Rest of LATAM 3.3 -0.3% Other 0.8 -38.6% Corporate fi
Slide 13: Fixed income portfolios & net financial income
ACTIVITY UPDATE – 6M 2025 FIXED INCOME PORTFOLIOS & NET FINANCIAL INCOME Fixed income portfolios Accounting Yield ACTIVELY MANAGED Market value Market yield Modified % ∆ YTD (€bn) (%) duration (%) EUROZONE IBERIA NON-LIFE 4.13 2.56 -0.06 3.58 6.10 MAPFRE RE NON-LIFE 4.68 3.24 0.24 3.39 2.80 IBERIA L
Slide 14: Closing remarks
CLOSING REMARKS Improving profitability across all countries, regions and business units Highly diversified business model (product mix and geography) Technical excellence and profitable growth supported by internal transformation and efficiency improvements Strong financial income and resilient bal
Slide 15: Investor Relations contacts and upcoming events
INVESTOR RELATIONS CONTACTS Email: IR@mapfre.com Telephone: (+34) 91 581 23 18 Corporate website: www.mapfre.com Financial documentation center: www.mapfre.com/en/financial-information/ Leandra Clark Leslie Hoffman Lidia Bermúdez Beatriz Ranea Yongzheng (Fabby) Chen Head of Investor Investor Relatio
Slide 16: Annex
MAPFRE Annex
Slide 17: Premiums
ACTIVITY UPDATE – 6M 2025 PREMIUMS TOTAL PREMIUMS €15,947 mn +5.3% +10.2% MAIN LINES OF BUSINESS At constant exchange rates Localaccounting Local accounting 16 Million euros
Slide 18: Investment portfolio and assets under management
ACTIVITY UPDATE – 6M 2025 INVESTMENT PORTFOLIO AND ASSETS UNDER MANAGEMENT Eurozone – Fixed income portfolios – Actively managed Other main regions and units – Fixed income portfolios Market value Accounting Yield Market yield Modified Market value Accounting Yield Market yield Modified (€bn) (%) (%
Slide 19: P&L by business unit (I/II)
ACTIVITY UPDATE – 6M 2025 P&L by business unit (I/II) IBERIA BRAZIL NORTH AMERICA EMEA OTHER LATAM JUNE 2024 JUNE 2025 JUNE 2024 JUNE 2025 JUNE 2024 JUNE 2025 JUNE 2024 JUNE 2025 JUNE 2024 JUNE 2025 Gross written and accepted premiums 3,846.8 4,028.8 1,651.5 1,515.5 1,394.6 1,380.4 677.0 759.7 2,216
Slide 20: P&L by business unit (II/II)
ACTIVITY UPDATE – 6M 2025 P&L by business unit (II/II) MAPFRE RE ASISTENCIA-MAWDY CONS. ADJUST. & CORPORATE AREAS TOTAL JUNE 2024 JUNE 2025 JUNE 2024 JUNE 2025 JUNE 2024 JUNE 2025 JUNE 2024 JUNE 2025 Gross written and accepted premiums 4,121.7 4,126.5 102.5 111.5 (2,040.5) (1,875.8) 11,970.5 12,272.
Slide 21: Regional data by segments (I/II)
ACTIVITY UPDATE – 6M 2025 Regional data by segments (I/II) Premiums Attributable result Combined ratio IBERIA 6M 2024 6M 2025 Δ% 6M 2024 6M 2025 Δ% 6M 2024 6M 2025 LIFE 1,474.9 1,981.7 34.4% 103.3 60.1 -41.8% -- -- LIFE PROTECTION 201.0 203.5 1.2% 40.2 35.7 -11.2% 67.9% 67.8% LIFE SAVINGS 1,273.9 1,
Slide 22: Regional data by segments (II/II)
ACTIVITY UPDATE – 6M 2025 Regional data by segments (II/II) Premiums Attributable result Combined ratio OTHER LATAM 6M 2024 6M 2025 Δ% 6M 2024 6M 2025 Δ% 6M 2024 6M 2025 LIFE 612.6 681.5 11.3% 25.0 23.8 -4.8% -- -- LIFE PROTECTION 471.8 493.5 4.6% 21.5 18.1 -15.5% 94.7% 95.1% LIFE SAVINGS 140.8 188.
Slide 23: IFRS P&L
IFRS P&L 6M 2024 6M 2025 LIFE NON-LIFE TOTAL LIFE NON-LIFE TOTAL I. INSURANCE REVENUE* 1,991 10,721 12,712 2,170 10,995 13,165 II. INSURANCE SERVICE EXPENSES (1,625) (9,259) (10,885) (1,829) (8,672) (10,501) 1. Incurred claims and other insurance service expenses (1,071) (7,056) (8,128) (1,133) (6,8
Slide 24: Reconciliation P&L – June 2025
IFRS RECONCILIATION P&L – June 2025 IFRS 17 impacts: IFRS 9 impacts: TOTAL 62 (36) IMPACT 26 * Homogenized local accounting ** Includes the discounting and unwind of insurance and reinsurance contract assets & liabilities, as well as the effect of interest rate movements on insurance and reinsurance
Slide 25: IFRS key figures by region and business unit
IFRS KEY FIGURES BY REGION AND BUSINESS UNIT Insurance revenue* Attributable result Combined ratio AREA / BUSINESS UNIT 6M 2024 6M 2025 Δ% 6M 2024 6M 2025 Δ% 6M 2024 6M 2025 IBERIA 3,648.4 3,855.0 5.7% 185.9 255.0 37.2% 98.4% 94.5% BRAZIL 2,420.9 2,257.2 -6.8% 118.2 136.8 15.7% 76.7% 70.7% OTHER LAT
Slide 26: IFRS balance sheet
IFRS BALANCE SHEET ASSETS 12.31.2024 06.30.2025 %∆ EQUITY AND LIABILITIES 12.31.2024 06.30.2025 %∆ A) INTANGIBLE ASSETS 2,540 2,387 -6.1% A) EQUITY 9,985 10,081 1.0% B) PROPERTY, PLANT AND EQUIPMENT 1,213 1,206 -0.6% I. Equity attributable to the controlling company's shareholders 8,889 8,987 1.1% C
Slide 27: Change in shareholders' equity
IFRS CHANGE IN SHAREHOLDERS’ EQUITY Balance at 31 December 2024 8,889 Currency conversion differences (386) Change in market value of financial assets 47 Change in technical provision valuation 116 Other (14) Total income and expenses recorded in OCI: (237) Result 596 Distribution of result (Dividen
Slide 28: CSM roll forward
IFRS CSM ROLL FORWARD Δ CSM: 10 Δ CSM before release: +201 Of which: Of which: IBERIA: 1,743 IBERIA: -73 BRAZIL: 392 BRAZIL: -101 OTHER LATAM: 271 EMEA: 102 Million euros 27
Slide 29: CSM breakdown
IFRS CSM BREAKDOWN CSM net of taxes and CSM CSM net of taxes minorities 12.31.2024 06.30.2025 12.31.2024 06.30.2025 12.31.2024 06.30.2025 IBERIA 1,721 1,743 1,292 1,308 1,278 1,293 BRAZIL 416 392 249 235 78 66 OTHER LATAM 264 271 184 188 182 186 EMEA 97 102 63 67 18 19 NORTH AMERICA 3 3 3 3 3 3 TOTA
Slide 30: Terminology (I/II) – Local homogenized accounting
TERMINOLOGY (I/II) Local homogenized accounting Revenue/ Total Premiums + Financial income from investments + Income from non‐insurance companies and other income Consolidated Revenue Premiums/Written and Accepted Written premiums, direct insurance + premiums from accepted reinsurance premiums Direc
Slide 31: Terminology (II/II) – IFRS
TERMINOLOGY (II/II) IFRS Insurance revenue + Reinsurance revenue + Insurance/Reinsurance finance revenue + Finance revenue not related to Insurance service + Reversal of Income / Total Income / financial asset impairment + Share in profits from equity‐accounted companies + Other non‐technical revenu