(10.2021) Results presentation 3Q 2022

Swiss Equity Markets (Web Disclosure) via PUBT

Madrid, October 28, 2022

SPANISH SECURITIES AND EXCHANGE COMMISSION (CNMV)

In accordance with article 227 of the Recast Text of the Securities Market Act, MAPFRE S.A. (MAPFRE) hereby gives notice to the Spanish Securities and Exchange Commission of the following

OTHER RELEVANT INFORMATION

Please find attached the documentation to be presented to investors in upcoming meetings.

Ángel L. Dávila Bermejo General Counsel

9M 2022 Results

Analyst & Investor presentation October 28th, 2022

2022-24 Strategic Plan on track and commitment to sustainable dividend path

Robust growth trends with tailwinds from currencies and reinsurance pricing

Diversification is key, with a streamlined organization, focused on profitability

Motor profitability initiatives		Exceptional financial
are beginning to deliver in		strength and flexibility,
some markets, while others		underpinned by balance
need more time		sheet diversification

PREMIUMS +10.6%*

IBERIA +3.4%*

MAPFRE RE +18%

BRAZIL +23%*

Disciplined growth in profitable

lines of business, leveraging

multi-channel approach

Benefitting from currency

appreciation

Favorable reinsurance pricing

Focus on organic growth and

prudent M&A strategy

Resilient profitability

High level of business

diversification

Improved technical margins in

General P&C and Life

Protection, mitigating pressure

on Motor

Strong contribution from

improving interest rate

environment

Main restructuring and

streamlining goals have been

reached

Challenging context > claims

inflation, changes in driving patterns and higher mobility

Profitability initiatives > rate increases on new business & renewals, cost contention and strict underwriting

Brazil > speedy portfolio repricing and improving combined ratio
Spain > technical measures to adapt to inflationary environment taking time to feed through P&L
USA > challenging recovery in a complex market

Strong Solvency II ratio (220%)

as of June 2022, boosted by

April Tier 3 issuance, mitigating

the fall in

shareholders' equity

High level of liquidity and

comfortable with current debt

position

Prudent approach to

investments > limited credit

risk and lower portfolio

duration

Strong dividend upstreaming, allowing for interim dividend of6-eurocents to be paid on November 30th

Adjusted at constant exchange rates and excluding the impact of the multi-year policy in Mexico and the exit of BANKIA Vida in 2021, as applicable
2

Key Figures > 9M 2022

	9M 2022

Total written and accepted premiums	18,644	12.1%
- Non-Life	14,990	12.8%
- Life	3,655	9.4%

Non-Life Combined Ratio - MAPFRE S.A.	98.4%	1.9 p.p
Non-Life Loss Ratio	71.2%	3.4 p.p
Non-Life Expense Ratio	27.3%	-1.4 p.p

Non-Life Combined Ratio - Insurance units	98.8%	3.0 p.p

Attributable result	488.4	-6.9%

ROE (2)	9.1%	0.1 p.p

Balance sheet (2)
Assets under management	52,501	-9.5%
Shareholders' equity	7,592	-10.3%
	6M 2022
Solvency ratio (2)	219.8%	13.5 p.p

on a like for

like basis (1)

10.6%

11.7%

6.6%

Excluding non-operating items (3)

8.3%

Premium growth	12.1%
Currency movements	-5.5%
Multi-year policy (Mexico)	3.1%
BANKIA	0.9%
Premium growth (like for like)	10.6%

At constant exchange rates and excluding the impact of the multi-year policy in Mexico and the exit of BANKIA Vida in 2021, as applicable
Variation calculated against data at December 31st, 2021
Excluding BANKIA impacts, net of related costs and goodwill writedowns

Million euros

Adjusted attributable result & extraordinary impacts

						9M 2021	9M 2022	(mn)	(%)
Attributable result			524.4	488.4	(36.0)	-6.9%
Impacts from hyperinflationary economies	(1)	(9.1)	(52.2)	(43.1)

Other non-operating extraordinary impacts	(2)		14.2	14.2

Attributable result			533.5	526.4	(7.1)	-1.3%
(adjusted for non-operating extraordinary impacts)

NatCat claims	(3)				(92.4)	(127.4)	(35.0)

COVID-related claims (Life Protection LATAM & MAPFRE RE)	(106.9)	(29.3)	77.6
Financial Gains & Losses			113.3	70.8	(42.5)
	Real estate	(4)			22.4	34.8	12.4

	Financial investments	(5)		90.9	35.9	(55.0)

Other	(6)					(12.8)	28.1	40.9


Attributable result			632.2	584.2	(48.1)	-7.6%
(adjusted for operating & non-operating extraordinary impacts)

In 2022, includes impacts in Turkey (-€16.6 mn), Argentina (-€35.4 mn) and Venezuela (-€0.1 mn). 2021 figures include impacts from Argentina and Venezuela
Net gains (€8.3 mn) from the sale or close of Assistance operations in Australia, Turkey, Middle East and Indonesia after restructuring expenses, as well as the sale of ABDA (€5.9 mn)
2022 figures include Parana river drought (-€105.4 mn) affecting reinsurance unit and insurance units in Brazil and Paraguay, as well as a provision for Hurricane Fiona at the Puerto Rican insurance unit (-€22 mn)
Real estate sales and related transactions, net of writedowns
Net of writedowns, in actively managed financial investment portfolios in euro area and MAPFRE USA and other financial income & expenses
2022 figures include various non-recurring tax impacts

All 2021 figures are detailed in the Annex

Million euros

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Mapfre SA published this content on 28 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 October 2022 06:38:08 UTC.