(10.2021) Results presentation 3Q 2022

Robust growth trends with tailwinds from currencies and reinsurance pricing

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

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

on a like for

like basis (1)

10.6%

11.7%

6.6%

Excluding non-operating items (3)

8.3%