Vienna Insurance Group Ag · VIE:VIG
Vienna Insurance — The Finest CEE Election Equity Investor Conference Warsaw (May 2026)
44 slides from Vienna Insurance's conference presentation, May 2026
Slide 1: Vienna Insurance Group Investor presentation
Vienna Insurance Group Investor presentation Vienna Insurance Group
Slide 2: Agenda
Agenda VIG introduction & strategy 3M 2026 key figures Full-year 2025 results Appendix Please note that rounding differences may occur Gross written premiums are not part of IFRS 17/9 reporting 2 Vienna Insurance Group
Slide 3: Resilient and growth-oriented top insurer
Resilient and growth-oriented top insurer Investment proposition overview Market leader in CEE with growth prospects Decentralised business model Strong, diversified sales and the ongoing expansion The decentralised management approach and of the product range enable sustainable, the multi-brand str
Slide 4: Number 1 insurance group in CEE
Number 1 insurance group in CEE Broadly diversified and solidly capitalised Top 3 FI VIG is represented More than 50 local SE 30 in 30 markets 50 insurance companies and NO EE > Top 3 pension funds LV Special DK LT Markets BY Around 36mn Excellent S&P rating 36 customers served by ~34,000 A+ of A+ w
Slide 5: Diversified portfolio & multi-channel distribution
Diversified portfolio & multi-channel distribution Gross written premiums split Multi-channel distribution 8% Various distribution channels 35% Special Markets Strongly customer-oriented distribution YE 2025 10% Life2 Motor1 Sales employees Brokers & agents 48% Austria 25% 26% & tied agents 30% Bank
Slide 6: Long-term growth potential in CEE
Long-term growth potential in CEE Annual insurance spending as indicator for growth potential Insurance density 2025 (premiums per capita, in €) Insurance density in 2025 in 1,703 Austria: € 2,422 840 612 598 586 497 534 537 457 429 282 250 272 238 174 160 114 103 72 47 Republic Türkiye Czech Poland
Slide 7: Dividend of € 1.73 per share for the year 2025
Dividend of € 1.73 per share for the year 2025 Continuous dividend payout since 1994 Dividend in line with dividend policy Dividend policy € 1.73 In terms of dividend continuity and € 1.55 predictability, VIG aims to pay a dividend € 1.40 per share that is at least equal to that of the previous year
Slide 8: VIG Group strategy 2026-2028
VIG Group strategy 2026-2028 Group Programmes Company Strategies Country Portfolio & CO3 Cooperation Collaboration Communication Values & Principles Plurality Entrepreneurship Responsibility Excellence Passion 8 Strategy Vienna Insurance Group
Slide 9: Management principles
Management principles VIG Group strategy 2026-2028 VIG operates as a ‘Group’ and creates significant economic added value through entrepreneurship and Communication provides for transparency and multi-brand strategy drives efficient and effective exchange within the Group VIG shows a strong and sust
Slide 10: Five distinctive group programmes
Five distinctive group programmes Designed to support objectives and strategic implications Group programmes reflect relevant trends and challenges Sustainability Capital Banking Artificial Health Management Cooperation Intelligence VIG as a reliable Capital efficiency Realising business AI and data
Slide 11: Country portfolio & company strategies
Country portfolio & company strategies Employees – foster people and culture Expand the customer base Participation in Great Place to Work, Service excellence by personalization of developing career opportunities and offers and services with AI supported strengthening internal mobility solutions to
Slide 12: Financial targets 2028
financial targets 2028 VIG quantitative targets (not yet including NÜRNBERGER) Growth Profitability Capital strength Gross written Profit before Combined Operating Solvency premiums taxes ratio ROE ratio ≥ € 20 billion ≥ € 1.5 billion ≤ 91% ≥ 17% 150 – 200% in 2028 in 2028 in 2028 in 2028 range ther
Slide 13: Executive summary & outlook
Executive summary & outlook VIG remains well prepared to manage the ongoing volatile geopolitical and macroeconomic conditions VIG off to a strong start – guidance for 2026 upheld With a solid start into 2026, VIG management confirms the guidance and targets a profit before taxes within a range of €
Slide 14: NÜRNBERGER acquisition completed
NÜRNBERGER acquisition completed VIG broadens its diversification and strengthens the position in Germany Pro-forma combined GWP All regulatory approvals received GWP of € 3.5bn2 of VIG incl. NÜRNBERGER1 As of 5 May 2026, VIG has received all regulatory Special Health occupational disability approva
Slide 15: Agenda
Agenda VIG introduction & strategy 3M 2026 key figures Full-year 2025 results Appendix Please note that rounding differences may occur Gross written premiums are not part of IFRS 17/9 reporting 15 Vienna Insurance Group
Slide 16: Key figures for the first quarter 2026
Key figures for the first quarter 2026 Sound start into 2026 Insurance service revenue Profit before taxes € 3,424.9mn € 310.3mn Revenue up by 9.1% PBT increased by 18.8% 3M 2025: € 3,139.2mn 3M 2025: € 261.1mn P&C net combined ratio Solvency II ratio 91.8% 290% Net COR improved by 0.5%p Own funds:
Slide 17: Insurance service revenue up by 9.1% to € 3.4bn
Insurance service revenue up by 9.1% to € 3.4bn Insurance service revenue by segments; 3M 2026 (€ mn) 902.5 Austria: Insurance service revenue grew by € 41.0mn Austria +4.5% mainly driven by non-life as well as health and life insurance 943.5 Czech Republic: Strong revenue growth of € 53.7mn 535.2 p
Slide 18: Solid growth across all lines of business
Solid growth across all lines of business Insurance service revenue by lines of business, incl. Group Functions; 3M 2026 (€ mn) MTPL Casco Other property Insurance service revenue +9.1% 3M 2025 613.3 523.2 1,579.3 3,424.9 3,139.2 261.2 +7.7% +6.1% +6.9% 201.9 228.2 34.2 224.4 284.8 3M 2026 660.8 555
Slide 19: Gross written premiums up by 4.4% to € 4.9bn
Gross written premiums up by 4.4% to € 4.9bn Gross written premiums by segments; 3M 2026 (€ mn) +5.0% +4.5% 4,873.2 4,742.0 3,751.2 3,644.5 +8.4% 2,709.1 2,559.8 2,470.1 +5.0% 1,935.8 -3.0% 1,832.4 1,601.7 1,673.6 1,587.3 1,391.8 1,322.6 1,294.4 1,259.8 1,186.4 915.8 817.2 658.8 714.0 470.4 493.8 43
Slide 20: Agenda
Agenda VIG introduction & strategy 3M 2026 key figures Full-year 2025 results Appendix Please note that rounding differences may occur Gross written premiums are not part of IFRS 17/9 reporting 20 Vienna Insurance Group
Slide 21: Key figures for the full-year 2025
Key figures for the full-year 2025 Solid top- and very strong bottom-line growth Online Group Annual Report 2025 Gross written premiums Insurance service revenue Profit before taxes € 16,313.7mn € 13,196.0mn € 1,161.3mn GWP up by 7.1% Revenue up by 8.7% PBT up by 31.7% 12M 2024: € 15,226.3mn 12M 202
Slide 22: Gross written premiums up by 7.1% to € 16.3bn
Gross written premiums up by 7.1% to € 16.3bn Gross written premiums by segments; 12M 2025 (€ mn) +9.2% +4.6% 4,873.2 4,742.0 4,533.2 4,464.4 3,751.2 3,644.5 +8.2% 2,709.1 2,559.8 2,470.1 2,366.2 +10.7% 1,935.8 +5.8% 1,832.4 1,601.7 1,655.3 1,587.3 1,500.3 1,391.8 1,294.4 1,259.8 1,186.4 915.8 817.2
Slide 23: Insurance service revenue up by 8.7% to € 13.2bn
Insurance service revenue up by 8.7% to € 13.2bn Insurance service revenue by segments; 12M 2025 (€ mn) 3,543.2 Austria: Insurance service revenue grew by € 204.5mn Austria +5.8% driven by non-life and health insurance 3,747.7 Czech Republic: Strong revenue growth of € 200.5mn 2,078.2 based on posit
Slide 24: Solid growth across all lines of business
Solid growth across all lines of business Insurance service revenue by lines of business, incl. Group Functions; 12M 2025 (€ mn) MTPL Casco Other property Insurance service revenue +8.7% 12M 2024 2,321.8 1,988.2 6,303.3 13,196.0 12,138.5 938.5 +10.4% +7.3% +4.6% 761.3 928.0 120.7 882.6 12M 2025 2,56
Slide 25: Result before taxes of € 1.16bn up by 31.7%
Result before taxes of € 1.16bn up by 31.7% Result before taxes by segments; 12M 2025 (€ mn) 336.1 Austria: Result up by € 98.4mn mainly attributable to Austria +29.3% the improved combined ratio 434.5 Czech Republic: Strong growth of € 74.5mn primarily due to 211.1 the improved combined ratio Czech
Slide 26: P&C net combined ratio of 90.1%
P&C net combined ratio of 90.1% Discounting impact on claims ratio in 12M 2025 of 4.2% (12M 2024: 3.4%) Net insurance service expenses of € 8,364.8mn (12M24: € 7,931.6mn) / Net insurance service revenue of € 9,288.8mn (12M24: € 8,494.8mn) Significant improvement of COR supported by low number of wea
Slide 27: L/H contractual service margin & new business
L/H contractual service margin & new business 12M 2025 Life/Health CSM roll-forward (€ mn) +12.9% CSM New Business -152 49 € 528mn 840 -568 6,223 14 PV NB premiums 528 5,512 € 5,360mn CSM net New Business CSM interest Changes in Other changes FX effect CSM release CSM net 01/01/2025 accretion Variab
Slide 28: Solvency II ratio
Solvency II ratio VIG Group’s Solvency position including and excluding transitional measures Solvency II ratio Solvency II ratio including transitional measures excluding transitional measures 296% 276% 11,995 11,237 4,058 4,066 31/12/2025 31/12/2025 Solvency II own funds (€ mn) SCR (€ mn) 28 12M 2
Slide 29: Sensitivity analysis
Sensitivity analysis Market sensitivities as of 31/12/2025 Solvency ratio Eligible own funds Solvency capital requirement Scenario Sensitivity vs base Δ Sensitivity vs base Δ Sensitivity vs base Δ Base 295.6% 0.0 pp 11,995.0 0.0% 4,058.1 0.0% Loss equity value -25% 306.5% +10.9 pp ████ 11,604.3 -3.3
Slide 30: Agenda
Agenda VIG introduction & strategy 3M 2026 key figures Full-year 2025 results Appendix Please note that rounding differences may occur Gross written premiums are not part of IFRS 17/9 reporting 30 Vienna Insurance Group
Slide 31: S&P raised the outlook for VIG to positive
S&P raised the outlook for VIG to positive S&P raised the outlook from A+ with a stable outlook to A+ with a positive outlook S&P affirmed VIG's financial strength and issuer credit ratings with excellent A+ VIG’s diversification and growth were decisive factors in raising the outlook S&P: “VIG has
Slide 32: Group-wide sustainability programme
Group-wide sustainability programme Sustainability in VIG means creating economic value today without doing so at the expense of tomorrow SOCIAL FOCUS ENVIRONMENTAL FOCUS Objectives Objectives Reduction of emissions to net zero by 2050 Risk literacy Investment in green bonds Corporate volunteering F
Slide 33: Transition plan for climate protection
Transition plan for climate protection Net zero by 2050 – steps on the path to decarbonisation 2030: base year 2030: ~30% emission reduction 2050: net zero STARTING POINT INTERIM TARGET TARGET The greenhouse gas emissions VIG has defined as its first milestone a ~30% reduction The aim of the Paris A
Slide 34: Group income statement
Group income statement 12M 2025 (€ mn) 12M 2025 12M 2024 +/- % Insurance service revenue grew by € 1,057.5mn driven Insurance service result 1,518.4 1,186.4 28.0 by P&C business development, especially in the Insurance service revenue - issued business 13,196.0 12,138.5 8.7 Extended CEE and Special
Slide 35: Conservative investment strategy
Conservative investment strategy Spreading risk through diversification Investment split Bond portfolio by rating1 31/12/2024 12.3% 25.3% 34.3% 21.1% 7.0% 3.4% 8.3% 1.4% 0.7% 31/12/2025 13.9% 23.1% 37.5% 19.0% 6.5% 2.0% 9.6% AAA AA A BBB Other € 38.0bn 31/12/2025 Bond portfolio by issuer 74.6% 31/12
Slide 36: Segment overview
Segment overview Gross written premiums Insurance service revenue Result before taxes P&C net combined ratio in € mn in € mn in € mn in % 12M 2025 12M 2024 +/- % 12M 2025 12M 2024 +/- % 12M 2025 12M 2024 +/- % 12M 2025 12M 2024 +/- %p Austria 4,742.0 4,533.2 4.6 3,747.7 3,543.2 5.8 434.5 336.1 29.3
Slide 37: Additional figures
Additional figures Operating Return on Equity € mn 31/12/2025 31/12/2024² 31/12/2023² Shareholders’s equity 7,331.4 6,558.9 6,099.3 Unrealised gains and losses recognised in equity1 -255.9 -195.7 -159.3 Adjusted shareholders’ equity 7,075.4 6,363.2 5,940.0 Average adjusted shareholders’ equity 6,719
Slide 38: Key investment proposition
Key investment proposition How investors benefit from VIG’s unique market position and business approach Market leader in CEE with growth prospects Decentralised business model Attractive risk/reward profile in a growth region Agile, future-oriented operations in a dynamic environment Investments to
Slide 39: VIG share (I)
VIG share (I) Number of common shares: 128,000,000 | ISIN: AT0000908504 General information Analyst recommendations (as of May 2026) Listings Ticker Major indices BUY Vienna Stock Exchanges: VIG ATX 3 Prague Bloomberg: VIG AV / VIG CP / VIG XH ATX Prime Budapest Reuters: VIGR.VI / VIGR.PR / VIGR.H P
Slide 40: VIG share (II)
VIG share (II) Shareholder structure Free float split by region1 Continental Europe 31% Austria 27% ~72% Wiener Städtische ~28% North America 25% Versicherungsverein Free float (Mutual) UK & Ireland 15% Other 2% 1 Split of identified shares (Source: S&P Global, May 2026) 40 Appendix Vienna Insurance
Slide 41: Appendix
41 Appendix Vienna Insurance Group
Slide 42: Contact details
Contact details Investor Relations Financial calendar 20261 Nina Higatzberger-Schwarz Date Event Sylvia Hollerer Phone: +43 50 390-21920 Phone: +43 50 390-21919 12 Mar 2026 Preliminary results for the financial year 2025 nina.higatzberger@vig.com sylvia.hollerer@vig.com 28 Apr 2026 Results and Group
Slide 43: Disclaimer
Disclaimer Important notice These materials are for information purposes only. These materials do not constitute or form part, or all, of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities in any jurisdiction in which such solicita
Slide 44: Vienna Insurance Group
VIG* VIENNA INSURANCE GROUP Vienna Insurance Group
Vienna Insurance Group — The Finest CEE Election Equity Investor Conference Warsaw (May 2026) on 6ix