Sampo Oyj · OMXHEX:SAMPO
Sampo Oyj — Merger or Acquisition (March 2023)
13 slides from Sampo Oyj's merger presentation, March 2023
Slide 1: Proposed demerger of Sampo
Proposed demerger of Sampo Investor Presentation March 2023 1
Slide 2: Disclaimer
Disclaimer This presentation is not an offer of securities for sale in the United States of America. The shares in Mandatum plc referred to herein have not been, and will not be, registered under the US Securities Act of 1933, as amended ("US Securities Act"), or with any regulatory authority of any
Slide 3: Mandatum strategic review: Sampo board proposes a demerger
Mandatum strategic review: Sampo board proposes a demerger P&C Focused strategy • In line with its P&C focused strategy, Sampo announced a strategic Invest and develop Manage for value review of Mandatum’s role within the group on 7 December 2022 P&C insurance Mandatum and Sampo plc • Following an a
Slide 4: Creating highly attractive P&C and life insurance investment cases
Creating highly attractive P&C and life insurance investment cases 1 Sampo P&C 2 Mandatum ✓ Leading pure-play Northern P&C insurer operating in ✓ Major financial services provider with strong brand the attractive Nordic market and value proposition ✓ Scale player in Retail and SME segments ✓ Capture
Slide 5: Sampo to become the largest pure-play Nordic P&C insurer
1 Sampo to become the largest pure-play Nordic P&C insurer Largest pure-play Nordic P&C insurer Focused on Private & SME segments Outstanding underwriting track record Nordic P&C market share (%) Private & Commercial premiums (EURbn) EUR 8.4 bn Cumulative result 2013-2022 20% EUR 31 bn 88.1% 84.4% 8
Slide 6: Pure P&C focus to increase returns and resilience
1 Pure P&C focus to increase returns and resilience Stable underwriting result (EURbn) High returns in P&C Strong dividend track-record1 3.6 120% 110% 2.8 25.5% 26.2% 100% 90% 1.5 80% 1.3 1.3 1.1 70% 0.8 0.9 60% 50% 40% -0.0 30% 20% 10% 0% -1.9 If Topdanmark 2018 2019 2020 2021 2022 2018 2019 2020 2
Slide 7: Potential to enhance capital efficiency
1 Potential to enhance capital efficiency SCR impact of demerger (EURbn)1 3.9 • As a pure-play P&C insurer, Sampo could deliver high returns on -0.8 3.1 capital with reduced exposure to market risk • Mandatum represented 20% of Sampo’s SCR at year end 2022 while accounting for 14% of Group’s profits
Slide 8: Mandatum – well-established financial services brand in Finland
2 Mandatum – well-established financial services brand in Finland Well-established life insurer in Finland1 Resilient net flows Robust AuM growth Market Leader 20,000 EUR 2.0 bn EUR 16 bn Corporate & Cumulative netflows Total AuM Corporate Customers institutional customers 2018-2022 (YE 2022) 31% 27
Slide 9: Mandatum has a strong track-record of cash generation
2 Mandatum has a strong track-record of cash generation Decline in with-profit liabilities (EURbn) Mandatum Life fixed income running yield Mandatum dividend track record (EURm) EUR 1.3 bn 4.5% Decrease in WP liabilities EUR 0.5 bn 4.2 Cumulative dividend 3.9 2018-2023 4.0% 2020-2022 3.5 3.2 3.0 3.5
Slide 10: Mandatum can leverage its investment track record to grow
2 Mandatum can leverage its investment track record to grow Mandatum mark-to-market investment return1 Strong investment track record and investing expertise built on investing own balance sheet across Credit, Alternatives and Equity 10.2% 9.2% 7.1% 6.9% 7.2% Capture cross-selling opportunities & fu
Slide 11: The demerger process offers procedural and financial efficiency
The demerger process offers procedural and financial efficiency Key steps in potential Mandatum demerger process Board proposal General Meeting Demerger completes Process launched with a Proposal to be ratified by a vote at the General Meeting Following a listing process and proposal from the Board
Slide 12: Review of financial impacts of demerger
Review of financial impacts of demerger Profit before taxes (EUR bn) Composition of earnings per share (EUR p/s) Composition of regular dividend (EUR p/s) 1.9 2.69 Mandatum 0.2 1.6 0.36 2.33 0.30 Sampo P&C Sampo Mandatum1 Sampo P&C Sampo Mandatum Sampo P&C EUR 1.6 bn (2022) EUR 2.33 p/s (2022) EUR 1
Slide 13: Sampo plc Fabianinkatu 27 00100 Helsinki, Finland
Sampo plc Fabianinkatu 27 00100 Helsinki, Finland Phone: +358 10 516 0100 Business ID: 0142213-3 www.sampo.com @Sampo_plc sampo-plc sampo_oyj 13