Slide 1: Investor Presentation January–March 2026
Investor Presentation January–March 2026 6 May 2026
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements that reflect management’s current views with respect to certain future events and potential financial performance. Although Sampo believes that the expectations reflected in such forward-looking statements are reasonable, no assuran
Slide 3: Financial highlights
Financial highlights 6 May 2026
Slide 4: 1-3/2026: Strong operational performance
1-3/2026: Strong operational performance Nordic private and SME lines continued to drive top-line growth € 3.8 billion € 368 million Strong UW margins, supported by a favourable claims experience and positive Nordic underlying trends +2% year-on-year +9% year-on-year Gross written premiums Underwrit
Slide 5: Strong development in key underwriting KPIs
Strong development in key underwriting KPIs Insurance revenue Combined ratio Underwriting result (EURm) (EURm) Risk ratio (%) Cost ratio (%) 368 2,363 2,188 84.6% 84.4% 336 25.7% 24.8% 58.9% 59.6% Q1/2025 Q1/2026 Q1/2025 Q1/2026 Q1/2025 Q1/2026 • Like-for-like GWP growth of 2 per cent and • Risk rat
Slide 6: Excellent result underpinned by solid margins across segments
Excellent result underpinned by solid margins across segments Private Nordic Private UK Nordic Commercial Nordic Industrial GWP Insurance revenue GWP Insurance revenue GWP Insurance revenue GWP Insurance revenue 1,167 1,048 702 522 1,335 570 480 154 (+5.7%) (+7.0%) (+1.0%) (+15.0%) (+1.0%) (+4.8%) (
Slide 7: Continued strong momentum in Private Nordic
Continued strong momentum in Private Nordic Sustained and broad-based growth in Private Nordic on high Top-line growth continued to be supported by high and stable retention as well as growth in digital sales and insured objects retention and solid new sales development Private Nordic like-for-like
Slide 8: Private UK – disciplined growth in a competitive pricing environment
Private UK – disciplined growth in a competitive pricing environment LCP development driven by selective growth UK motor market environment remained competitive, but with Million LCPs emerging signs of price stabilisation 5.0 6% 4.6 4.5 4.4 LCP growth of 13% year-on-year and 3% over Q1, driven by 4.
Slide 9: Good growth in SME offset by softer development in larger corporates
Good growth in SME offset by softer development in larger corporates Mixed top-line growth supported by renewals and repricing Solid growth momentum underpinned by increasing traction with SME and through digital channels SME like-for-like GWP growth (%) Commercial digital sales (EURm) Continued hig
Slide 10: Updated phasing of Topdanmark-synergy realisation
Updated phasing of Topdanmark-synergy realisation • To reflect the faster pace of synergies realisation in 2025, yearly Synergy run-rate realisation target by year targets from 2026 onwards have been updated, resulting in a step-up EURm in 2026 and 2027. Realised run-rate • Total synergy target rema
Slide 11: Inflationary risks are carefully monitored and actively priced-in
Inflationary risks are carefully monitored and actively priced-in • Sampo has very limited operational exposure to Persian Gulf Nordic claims cost split region with war exclusions in place – no exposure to Iran Motor Property • Nordic claims inflation has remained at historical average Spare parts l
Slide 12: Advanced car technology provides compelling opportunities
Advanced car technology provides compelling opportunities Example of rapid growth in advanced car technology: • Sampo has a market-leading partnership network with OEMs in the Nordics, The number of different windshield features has exploded providing valuable insight into new technology 40 Laminate
Slide 13: Higher severity offsetting lower frequencies in motor insurance
Higher severity offsetting lower frequencies in motor insurance Illustrative example of potential effect from AVs on risk pool Private Nordic, Norway passenger car claims for 2024 Collisions + MTPL Partly AV affected +6% +16% Unaffected 2024 2024 all AVs 2024 all AVs + more driving • 2024 claims cos
Slide 14: Investment returns impacted by volatile market movements
Investment returns impacted by volatile market movements • Net investment income declined to EUR -276 million (80), driven by Adverse market value movements primarily driven by legacy assets volatile market conditions towards the end of the quarter Group net investment income, EURm • Adverse mark-to
Slide 15: Solvency II coverage stood robust amid market volatility
Solvency II coverage stood robust amid market volatility Group Solvency II ratio • Resilient solvency development on the back of continued strong operational performance 9% -9% • Market effects primarily driven by higher short-term 11% -4% -10% interest rates and wider credit spreads 3% • NOBA had 3
Slide 16: Outlook for 2026 raised following a strong start to the year
Outlook for 2026 raised following a strong start to the year • Sampo continues to deliver steady underwriting profit Sampo is in a strong position to continue attractive UW profit growth growth, driven by attractive organic growth • Following the strong first quarter performance and a more Insurance
Slide 17: Danish Supreme Court ruling on workers’ compensation case
Danish Supreme Court ruling on workers’ compensation case • Sampo has disciplined reserving practices, with significant On 28 April 2026, the Danish Supreme Court announced its part of reserves for the Danish workers’ comp being ruling on the workers’ compensation case between The National allocated
Slide 18: Performance by segment
SAMPO = GROUP Performance by segment
Slide 19: Private Nordic: Continued growth and solid strong UW margins
Private Nordic: Continued growth and solid strong UW margins • GWP growth driven by a favourable sales outcome, supported by high customer retention and growth in key growth areas • Personal insurance grew by 9 per cent, property 4 percent and motor 5 per cent € 1,167 million € 179 million • Broad-b
Slide 20: Private Nordic: Key growth drivers
Private Nordic: Key growth drivers GWP growth, like-for-like Retention rate (%) Digital sales (EURm) 8.5% 89% 89% 89% 175 6.5%* 144 5.7% GWP: 3,872 4,183 1,167 39 45 Ins. revenue: 3,667 3,995 1,048 2024 2025 Q1/2026 2024* 2025 Q1/26 2024* 2025 Q1/25 Q1/26 Q1/2026 GWP growth, like-for-like Customer s
Slide 21: Private UK: Disciplined growth
Private UK: Disciplined growth • GWP growth supported by higher policy count, with lower average premiums partly offsetting the growth • LCPs increased by 3 per cent to 4.6 million quarter-on-quarter, supported by higher retention and selective growth in motor portfolio € 702 million € 50million • T
Slide 22: Private UK: Key growth drivers
Private UK: Key growth drivers UK: GWP growth, like-for-like UK: motor policies in force, millions UK: home policies in force, millions 32% 3.67 3.56 0.91 0.92 3.29 0.78 0.72 21% 3.14 0.54 2.92 13% 1% 2023 2024 2025 Q1/26 2023 2024 Q1/25 2025 Q1/26 2023 2024 Q1/25 2025 Q1/26 Including broker revenue
Slide 23: Nordic Commercial: Mixed growth with continued strong margin performance
Nordic Commercial: Mixed growth with continued strong margin performance • Mixed GWP growth of 1 per cent, supported by renewals and repricing, partly offset by a few large customer losses in a more competitive large corporate market • Continued positive performance in the SME portfolio, albeit with
Slide 24: Nordic Commercial: Key growth drivers
Nordic Commercial: Key growth drivers GWP growth, like-for-like SME: GWP growth, like-for-like Commercial digital sales (EURm) 6.8% 5.9% 40 5.6% 5.1% 27 3.9% 10 11 1.0% 2024 2025 Q1/26 2024 2025 Q1/26 2024 2025 Q1/25 Q1/26 GWP: 2,173 2,391 1,335 Ins. rev.: 2,128 2,201 570 Growth rates for 2024 exclu
Slide 25: Nordic Industrial: Strong margins in a competitive market
Nordic Industrial: Strong margins in a competitive market • GWP flat year-on-year following a competitive 1 January renewal, with continued pressure on repricing levels • Retention remained relatively strong given the market conditions € 480 million € 154 million • Successful commercial initiatives
Slide 26: Financial supplement
Financial supplement 6 May 2026
Slide 27: Profit & loss detail
Profit & loss detail 6 May 2026
Slide 28: Key result movements Q1/2026
Key result movements Q1/2026 EURm Q1/2026 Q1/2025 Comments Gross written premiums 3,752 3,701 - Like-for-like growth of 2%, led by Nordic private and SME lines, partly offset by mixed performance in other segments Insurance revenue, net 2,363 2,188 - Solid underlying development, with growth of 8 pe
Slide 29: Top-line development
Top-line development Gross written premiums Insurance revenue, net EURm EURm 11,000 10,738 10,000 253 9,931 9,078 10,000 249 1,046 9,000 298 8,870 8,386 584 9,000 1,070 275 238 8,000 7,535 657 966 2,391 223 8,000 7,000 627 2,201 2,173 7,000 2,128 1,977 6,000 1,945 6,000 2,865 5,000 2,000 2,565 5,000
Slide 30: Underwriting result and combined ratio development
Underwriting result and combined ratio development Underwriting result Combined ratio EURm 1,600 88% 1,485 69 1,400 86% 1,316 109 84.6% 84.3% 84.6% 84.4% 72 83.6% 1,164 84% 1,200 74 46 376 80 82% 1,000 352 315 80% 216 800 190 78% 128 600 76% 336 368 400 715 19 19 74% 628 30 595 31 90 78 200 53 50 72
Slide 31: Group: results and key figures
Group: results and key figures EURm Q1/2026 Q4/2025 Q3/2025 Q2/2025 Q1/2025 FY 2025 FY 2024 FY 2023 Gross written premiums 3,752 2,277 2,218 2,542 3,701 10,783 9,931 8,870 Insurance revenue, net 2,363 2,322 2,303 2,264 2,188 9,078 8,386 7,535 Claims incurred, net -1,407 -1,377 -1,338 -1,286 -1,289 -
Slide 32: Group: operating result
Group: operating result EURm Q1/2026 Q4/2025 Q3/2025 Q2/2025 Q1/2025 FY2025 FY 2024 FY 2023 Underwriting result 368 364 392 393 336 1,485 1,316 1,164 Interest and dividend income 146 142 144 164 142 592 609 593 Realised gains or losses 30 -1 30 7 -11 25 46 86 Unwind of discounting -67 -64 -59 -59 -5
Slide 33: Private Nordic: results and key figures
Private Nordic: results and key figures EURm Q1/2026 Q4/2025 Q3/2025 Q2/2025 Q1/2025 FY 2025 FY 2024 FY 2023 Gross written premiums 1,167 991 1,011 1,100 1,081 4,183 3,872 3,627 Insurance revenue, net 1,048 1,027 1,014 995 958 3,995 3,667 3,489 Claims incurred, net -645 -629 -610 -598 -594 -2,431 -2
Slide 34: Private UK: results and key figures
Private UK: results and key figures EURm Q1/2026 Q4/2025 Q3/2025 Q2/2025 Q1/2025 FY 2025 FY 2024 FY 2023 Gross written premiums 702 622 764 757 722 2,865 2,565 2,063 Insurance revenue, net 522 513 518 499 470 2,000 1,659 1,251 Claims incurred, net -298 -302 -272 -253 -245 -1,073 -868 -658 Operating
Slide 35: Nordic Commercial: results and key figures
Nordic Commercial: results and key figures EURm Q1/2026 Q4/2025 Q3/2025 Q2/2025 Q1/2025 FY 2025 FY 2024 FY 2023 Gross written premiums 1,335 401 282 360 1,348 2,391 2,173 1,977 Insurance revenue, net 570 561 554 549 537 2,201 2,128 1,945 Claims incurred, net -338 -324 -326 -309 -325 -1,285 -1,254 -1
Slide 36: Nordic Industrial: results and key figures
Nordic Industrial: results and key figures EURm Q1/2026 Q4/2025 Q3/2025 Q2/2025 Q1/2025 FY 2025 FY 2024 FY 2023 Gross written premiums 480 205 104 256 481 1,046 1,070 966 Insurance revenue, net 154 145 141 147 150 584 657 627 Claims incurred, net -91 -82 -88 -84 -87 -341 -455 -428 Operating expense
Slide 37: Baltic & other operations: results and key figures
Baltic & other operations: results and key figures EURm Q1/2026 Q4/2025 Q3/2025 Q2/2025 Q1/2025 FY 2025 FY 2024 FY 2023 Gross written premiums 69 58 57 69 69 253 249 238 Insurance revenue, net 69 75 76 75 72 298 275 223 Claims incurred, net -36 -40 -45 -42 -38 -161 -146 -118 Operating expense (incl.
Slide 38: Nordic underlying risk ratio development
Nordic underlying risk ratio development Q1/2026 Q4/2025 Q3/2025 Q2/2025 Q1/2025 FY 2025 FY 2024 FY 2023 Risk ratio, % 60.6 59.7 59.9 58.6 61.1 59.8 61.0 61.1 Large claims, % -1.7 -1.4 -0.3 -1.6 -1.0 -1.1 1.2 1.3 Severe weather, % 0.0 2.5 0.0 -0.3 -0.5 0.4 2.2 3.3 PYD, RA and other technical effects
Slide 39: Group net financial result
Group net financial result EURm Q1/2026 Q4/2025 Q3/2025 Q2/2025 Q1/2025 FY 2025 FY 2024 FY 2023 Fixed income 141 137 139 132 134 541 559 520 Equities 3 3 2 19 4 28 37 59 Funds 3 3 4 12 5 23 16 16 Interest and dividend income 146 142 144 164 142 592 612 595 Fixed income -156 -16 -15 86 -13 41 147 364
Slide 40: Investments & balance sheet
Investments & balance sheet 6 May 2026
Slide 41: Group balance sheet
Group balance sheet Q1/2026 Q4/2025 Q3/2025 Q2/2025 Q1/2025 FY 2025 FY 2024 FY 2023 Property, plant and equipment 305 301 276 288 296 301 284 318 Intangible assets 3,479 3,492 3,510 3,556 3,629 3,492 3,637 3,637 Investments in associates 5 5 4 4 4 5 4 12 Financial assets 18,123 17,154 16,640 16,143
Slide 42: Group investment mix and returns
Group investment mix and returns Q1/2026 Q4/2025 Q3/2025 Q2/2025 Q1/2025 FY 2025 FY 2024 FY 2023 Credit bonds, funds and loans 46% 47% 47% 47% 43% 47% 49% 44% Covered bonds 20% 21% 21% 24% 25% 21% 24% 23% Government bonds 6% 6% 7% 7% 7% 6% 6% 4% Index-linked bonds 2% 3% 3% 3% 3% 3% 3% 3% Money marke
Slide 43: Group fixed income and equities mix Q1/2026
Group fixed income and equities mix Q1/2026 Fixed income Listed equities* Top 10 direct equity investments 3% Value, EURm Sweden, 29% 9% 3% Denmark, 15% Nordics NOBA 482 13% Norway, 12% 29% Western Europe Volvo 144 5% United States, 9% ABB 83 6% North America Telia 71 Finland, 9% 16% Emerging market
Slide 44: Net insurance liabilities
Net insurance liabilities Q1/2026 Q4/2025 Q3/2025 Q2/2025 Q1/2025 FY 2025 FY 2024 FY 2023 Liability for remaining coverage, net 2,529 1,556 1,924 2,167 2,516 1,556 1,620 1,469 Liability for incurred claims, net 8,728 8,728 8,603 8,301 8,100 8,728 8,067 7,983 - of which from risk adjustment 372 339 3
Slide 45: Key sensitivities
Key sensitivities Quarterly P&L effects, Q1/2026 EURm Effect on quarterly Combined ratio *) Discount rate ±100 bps ±60bps • Loss and combined ratio sensitive to changes in discount rates Insurance finance income & expense, net Discount rate +100 bps 320 • Net investment income sensitive to mark-to-
Slide 46: Solvency II ratio development
Solvency II ratio development 220% 210% 200% 185% 182% 180% 176% 177% 174% 174% 160% 140% 120% 100% 2020 2021 2022 2023 2024 2025 Q1/2026 Target range for 2021-2023 (170-190%) Target range for 2024-2026 (150-190%) 6 May 2026 46
Slide 47: Solvency II SCR and own funds
Solvency II SCR and own funds EURm Q1/2026 Q4/2025 Q3/2025 Q2/2025 Q1/2025 FY 2025 FY 2024 FY 2023 Market risk 2,063 2,316 2,201 2,067 2,033 2,316 1,974 1,920 Insurance risk 1,774 1,849 1,847 1,827 1,823 1,849 1,734 2,027 Counterparty risk 190 201 185 206 211 201 139 200 Operational risk 311 306 297
Slide 48: Estimated Solvency II ratio sensitivities on market risk factors
Estimated Solvency II ratio sensitivities on market risk factors Q1/2026 Q4/2025 Q3/2025 Q2/2025 Q1/2025 FY 2025 FY 2024 FY 2023 Solvency II ratio 174% 174% 172% 174% 180% 174% 177% 182% Rates -100bps -2%-p -4%-p -5%-p -5%-p -5%-p -4%-p -5%-p -5%-p Rates +100bps +0%-p +2%-p +4%-p +4%-p +4%-p +2%-p +
Slide 49: Financial leverage development
Financial leverage development IFRS 4 IFRS 17 35% 30% 26.9% 25.6% 24.4% 25.3% 23.6% 23.7% 25% 23.8% 20% 15% 10% 5% 0% 2021 2022 2022 2023 2024 2025 Q1/2026 Hybrid Senior Target (<30%) EURm 2021 2022 (IFRS 4) 2022 (IFRS 17) 2023 2024 2025 Q1/2026 Hybrid debt 2,015 1,983 1,983 1,645 1,642 1,615 1,617
Slide 50: Outstanding debt instruments
Outstanding debt instruments Issue date Currency Issued, million Outstanding, million Coupon Maturity date First call date Sampo plc senior bond Feb 2018 EUR 500 313 1.625% 21 Feb 2028 21 Nov 2027 Sampo plc senior bond Aug 2018 NOK 1,000 (EUR 89) 1,000 (EUR 89) 3.100% 7 Sep 2028 - Sampo plc Tier 2 M
Slide 51: Hold Co (Sampo plc) balance sheet
Hold Co (Sampo plc) balance sheet EURm Q1/2026 Q4/2025 Q3/2025 Q2/2025 Q1/2025 FY 2025 FY 2024 FY 2023 Liquidity 1,059 881 862 593 608 881 626 1,352 Investment assets 2,406 2,754 2,584 2,380 2,406 2,754 2,408 979 Tangible assets 3 4 4 2 3 4 3 2 Fixed income 1,813 1,813 1,814 1,814 1,825 1,813 1,826
Slide 52: Additional information
Additional information 6 May 2026
Slide 53: Share count development
Share count development Total share count, million Average number of shares 2,777 2,734 1-12/2020 2,776,759,250 2,691* 2,662 2,656 2,572 2,509 1-12/2021 2,771,584,090 1-12/2022 2,651,481,010 1-12/2023 2,529,695,320 1-12/2024 2,560,572,410 1-3/2025 2,691,238,860 1-6/2025 2,691,238,860 1-9/2025 2,689,
Slide 54: Share buybacks development
Share buybacks development Buyback programmes Buybacks by quarter Announced, Executed, Launch Start End EURm EURm Shares repurchased EURm 1. programme 1 Oct 2021 4 Oct 2021 25 Mar 2022 750 750 Total 2021 42,699,780 380 2. programme 30 Mar 2022 31 Mar 2022 17 May 2022 250 228 Total 2022 162,212,895 1
Slide 55: Geographical mix Q1/2026
Geographical mix Q1/2026 Gross written premiums, EURm Insurance revenue, net, EURm GWP by country, % Sweden, 15% Sweden 570 445 Norway, 22% 3.8 Denmark, 27% EURbn Norway 817 501 Finland, 15% Denmark 1,017 539 UK, 19% Baltic & other, 2% Finland 577 287 Insurance revenue by country, % UK 702 522 Swede
Slide 56: Geographical mix by segment 2025
Geographical mix by segment 2025 Private Nordic Sweden Norway Denmark Finland UK Total Private UK Sweden Norway Denmark Finland UK Total Gross written Gross written 1,320 1,126 1,048 668 - 4,183 - - - - 2,865 2,865 premiums premiums Insurance revenue, Insurance revenue, 1,271 1,043 1,014 666 - 3,995
Slide 57: Nordic new car sales
Nordic new car sales Number of cars sold (1,000) Q1/2026 Q4/2025 Q3/2025 Q2/2025 Q1/2025 FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 FY 2020 Sweden 62.0 69.0 63.1 77.5 63.4 273.0 269.5 289.7 288.0 301.0 292.0 Norway 27.2 66.2 37.8 43.9 31.6 179.6 128.7 127.0 174.3 176.3 141.4 Denmark 43.7 50.5 44.5 52.1
Slide 58: Sampo Group overview
Sampo Group overview 6 May 2026
Slide 59: Safety and value through understanding risks
Safety and value through understanding risks 6 May 2026 59
Slide 60: Sampo is the leading Northern European P&C insurance group
Sampo is the leading Northern European P&C insurance group Sampo’s scale is unmatched among P&C peers 9 million customers in 8 markets Insurance revenues, EURbn Private Nordic Private UK Nordic Commercial 8.8 Multiple strong brands 5.7 5.4 4.9 3.6 Unique partnership network* 1.6 *Examples of Nordic
Slide 61: A well-diversified platform with scalable growth potential
A well-diversified platform with scalable growth potential Multiple attractive growth areas Leading market position across markets Other operations Digital UK Nordic mid-sized and personal lines large corporates €11bnGWP in 2025 Nordic private 21% 22% 17% motor insurance Nordic personal insurance 20
Slide 62: Sampo aims to deliver attractive and reliable capital returns
Sampo aims to deliver attractive and reliable capital returns Regular dividend per share Distribution policy Sampo aims to return capital through a reliable and progressive regular dividend complemented by share buybacks. In a typical year, Sampo expects to return around 90 0.34 0.36 per cent of its
Slide 63: Investor Presentation January–March 2026
Investor Presentation January–March 2026 Sampo plc Web www.sampo.com Phone: +358 10 516 0100 Fabianinkatu 21 Sampo_plc Business ID: 0142213-3 00130 Helsinki Sampo_plc Finland Sampo plc