Wüstenrot & Württembergische : Quarterly Statement W&W AG 31/03/2025

About this update from Wuestenrot & Wuerttembergische Ag

Quarterly Statement as at 31 March 2025 Wüstenrot & Württembergische AG Performance of business operations According to initial preliminary figures from the Statis-tisches Bundesamt (Federal Statistical Office), the German economy showed a recessionary trend in the first quarter of 2025, with gross domestic product (GDP) falling by 0.2% compared to the previous year. In addition, uncertainty among companies and financial market players increased in the first quarter of 2025, as US President Trump had already begun increasing US tariffs and announced a further increase for the start of April. This was reflected, for example, in the fact that sentiment indicators continued to be depressed and that capital market fluctuations were pronounced at times. Against this backdrop, the Wüstenrot & Württembergische Group (W&W) nevertheless recorded a strong start to 2025. In the first three months of the financial year, the Group achieved significant growth in new business and in the portfolio in almost all areas compared to the same period of the previous year. This growth amounted to 10% or more in some cases. The strong start to the year underpins the goal of significantly increasing consolidated earnings in accordance with IFRS this year and also increasing the HGB result in the individual accounts of W&W AG once again. Selected Group key figures The main portfolio volume expanded compared to the previous year. The portfolio of building loans increased from €28.4 billion to €28.8 billion. Insurance revenue (technical income) in accordance with IFRS 17 also increased. In the life and health insurance segment, it rose by 6.3% to €336 million (previous year: € 316 million); in the property/casualty insurance segment it increased by 4.4% to €709 million (previous year: € 679 million). New business in life insurance, consisting of regular premiums and single premiums, grew by 28%. A significant increase in new business was also achieved in the housing and property/casualty insurance segments. The capital ratios continued to develop solidly. The result for the housing segment was characterised by an expected decline in the net measurement gain/loss in line with previous years, continued investments for the upcoming introduction of the new core banking system and higher risk provisions. In life and health insurance, the earnings trend was stable. In property/casualty insurance, the absence of storm damage in the first quarter of 2025 and the revenue increases as a result of portfolio growth led to a very strong technical result. Overall, the Group's earnings performance was therefore pleasing. Executive Board The Supervisory Board of Wüstenrot & Württembergische Building loan portfolio 1 New business volume housing (new construction financing business (including brokering for third parties) & new home loan savings business (gross)) Insurance revenue life and health insurance segment New life insurance business (regular and single premium) Insurance revenue property/casualty insurance segment 1/1/2025 to 1/1/2024 to AG (W&W) has appointed Matthias Bogk (47) as the new Chief Financial Officer of W&W AG with effect from 1 July 2025. He succeeds Alexander Mayer (50), who takes on a new challenge in the industry at the same time. Bogk joined the W&W Group in 2001 and has been Chief Financial Officer of Wüstenrot Bausparkasse AG since 2019. 51/5/2025 51/5/2024 Change in € millions in € millions in % 28,768 28,401 +1.5 4,595 4,175 +5.5 556 516 +6.5 128 100 +28.0 709 679 +4.4 191 176 +8.5 Outlook With a view to 2025 as a whole, we are maintaining the earnings forecasts from the annual report. We are aiming for a consolidated net profit significantly above the previous year. The forecast is subject to the proviso that there are no capital market distortions, economic downturns or unforeseeable major loss events in the further course of the year. Annual portfolio premium (new and replacement business; property/casualty insurance) 1 Values as at 51 March 2025 and 51 December 2024.

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