Consolidated financial statements for 2021 including the group management report

More information on VIG shares and the contact information for the Investor Relations department is available in the online report at www.annual-report.vig/2021

More value: the VIG Group

VIG Insurance Group is a reliable partner that creates more value for its stakeholders: customers, employees and investors.

4 good reasons to invest

in the VIG Group:

• 1 Broad portfolio with growth potential

• Leading insurance group in Central and
  EasteEurope
• Insurance solutions in all lines of business for 22 million customers
• Active in 30 countries with 30 years of M&A experience in the CEE region

• 2 Financial stability and profitability

• A+ rating with stable outlook from Standard & Poor's
• Solvency ratio of 250%
• Dividend paid each year since 1994

EUR 2.94

Earnings per share

Top result in spite of the pandemic

Dividend of EUR 1.25 per share A dividend of EUR 1.25 per share will be proposed at the Annual General Meeting under

the dividend policy which foresees a distribution of 30% to 50% of Group net profits to shareholders.

Solvency ratio of 250%

VIG Insurance Group therefore continues to have excellent capital resources.

• 3 Proven management principles ensure customer proximity

• Local entrepreneurship for quick, flexible action in the market
• Multi-channeldistribution to take advantage

of all sales opportunities

• Multi-brand policy for broad target group appeal

4 Commitment to sustainability

• Sustainability strategy with five priorities since 2017
• Consideration of environmental and social criteria for investments and underwriting
• Diversity strategy promotes inclusion and

equal opportunity

More information is available in the current Sustainability Report 2021 and at www.vig.com/corporate-responsibility

EUR 436.4 million

in green bonds

VIG Insurance Group takes social and environmental criteria into account in its investment strategy.

~72%

Wiener Städtische Versicherungsverein

Shareholder

structure

Breakdown of identified

shares, May 2021

"We want to be a reliable partner for our stakeholders." Sometimes this is easier said than done. I am therefore all the more pleased that we were able to demonstrate our reliability once again in 2021. With a more in premiums, profits and engagement and with the presentation of our new strategic programme for the period until 2025, we are reinforcing this objective.

We increased our premium volume by 5.5% in financial year 2021, thereby

exceeding­ the EUR 11 billion threshold for the first time, while also earning a solid pre-tax result of EUR 511.3 million. Our well-known strengths - diversity,­ long-term thinking, flexibility and

continuous­ improvement of the existing model - make us resilient and made this more in success possible. They helped us manage the effects of the ongoing pandemic. However, all of this is once again being put to the test by the current state of war in Ukraine. We have become even more closely united as a Group in the past two years and have proven our reliability under difficult conditions. This is all the more important in extreme situations such as those that currently exist in Ukraine. What matters at the moment is taking care of the people there, including our employees and customers. In addition to the human suffering, the conflict and sanctions can be expected to have far-reaching economic effects that are yet difficult to assess. We will also overcome this challenge together. Broad ­diversification across markets and lines of business and local entrepreneurship promote stability and allow us to provide mutual support. Our decentralised

structure­ allows our companies­ to react quickly with solutions that are custom-­ tailored to market needs - even in extreme situations.

Improved combined ratio, higher dividend

In spite of the major natural disasters that occurred in 2021, due to our comprehensive reinsurance programme, which limited the net impact on our results to around EUR 90 million, our combined ratio improved to 94.2%. This success was due in part to sustainable efficiency ­improvements in our business opera- tions. The pandemic also had a positive effect. The reduction in road traffic led to

Key figures 2021

EUR 511.3 million Result before taxes (+47.8%)

Strong result approaching the pre-crisis level of 2019.

EUR 11.0 billion Group premiums (+5.5%)

EUR 11 billion threshold exceeded for the first time.

94.2%

Combined ratio

Combined ratio improved to a very good level in spite of weather-related claims.