Consolidated Non-Financial Report 2023 02.05.2024

About this report

This report was prepared in accordance with the Austrian Sustainability and Diversity Improvement Act (Directive 2014/95/EU) and covers those sustainability concerns that also reflect our material sustainability topics.

The concepts described in this report correspond to the content of the 2023 Sustainability Report, which was prepared in accordance with the Global Reporting Initiative (GRI) standards. The sustainability report is published together with the Group Report on 11 April 2024. This non-financial report, which forms part of our 2023 Group Report, covers the 2023 financial year and, thus, the period running from 1 January 2023 to 31 December 2023. Where appropriate to do so, we compare our progress with the targets communicated the previous year and give an insight into our targets for next year.

UNIQA Insurance Group AG decided to prepare the non-­ financial statement as a separate non-financial report (op- tion in accordance with Section 267a(6) and Section 243b(6) of the Austrian Commercial Code) and to summarise the non-financial report for UNIQA Insurance Group AG and the consolidated non-financial report for the Group. The basis of consolidation is disclosed under Other disclosures in the explanatory notes to the 2023 consolidated financial state- ments. This report includes information and data relating to UNIQA Insurance Group AG (UNIQA Group). All content and data in this report refer to the UNIQA Group and its fully consolidated Group companies. Should any content or key

performance indicators not cover the entire UNIQA Group, this is clearly indicated in the report or explained in more detail in footnotes in the respective sections. The Teleme- di Group, a Polish start-up, was acquired to supplement our health insurance services effective 31 December 2023. The company has 49 employees. As the company was acquired just before the financial statements, it cannot be included with corresponding ESG-related data for the 2023 financial year. In mid-2023, UNIQA withdrew completely from the Russian market and concluded the contract for the sale of its subsidiary Raiffeisen Life to the Russian insurance company Renaissance Life and now only operates in 17 countries. As UNIQA continued to assume responsibility for employees and environmental matters in the 2023 financial year, these data are included in this report.

Since UNIQA Insurance Group AG (headquartered in Vien- na) does not directly operate the insurance business either domestically or abroad, measures to address environmental, social and employee concerns along with observing human rights, anti-corruption and bribery issues are drawn up at Group level and subsequently implemented in the operating Group companies. Accordingly, as regards the separate financial statements, no other modified or restricted concept is being pursued in any other way.

As in previous years, PwC Wirtschaftsprüfung GmbH Wirtschaftsprüfungsgesellschaft was commissioned to undertake the limited assurance audit in 2023. Further details on the audit outcomes can be found in the report on the independent audit of the consolidated non-financial report.

Company description

The UNIQA Group is one of the leading insurance groups in its two core markets of Austria and Central and EasteEurope (CEE). We offer our customers property and casualty insurance as well as life and health insurance products. As a financial services provider, our aim is to consider sustainability -related risks and include opportunities arising from ESG trends (ESG - Environment, Social, Governance). The next section illustrates our management approach. Further information on our business model can be found in the Strategy section of the Group Report. For information on how the policies are followed and issues are managed, please see the following sections.

Sustainability strategy

We carefully address those conditions that we consider conducive to a better life. To do this, we enter into dialogue with stakeholders, experts and the public, share our own approaches and play an active role. Sustainability is therefore a key part of our actions. Thanks to our clear position on this matter, we can encourage understanding and support from all our stakeholders, namely employees, customers, investors and the public.

Our sustainability strategy is designed to be holistic. It ties our economic ambitions to a clear environmental and social commitment to protecting the environment and social re- sponsibility.

Our sustainability strategy was approved in October 2020 and is based on five pillars in addition to our People and Culture base and Governance framework:

• ESG investment policy
• ESG product policy
• Sustainable operational management
• Transparent reporting
• Stakeholder management

Our fundamental objective in 2023, as in the previous year, was to put this sustainability strategy into operation and embed it within the company by using milestone schedules. Our operational focus is on pillars 1 to 3, supported by transparent reporting (pillar 4) and stakeholder engagement (pil- lar 5). There is also particular focus on our climate strategy, which we pursue in accordance with recognised regulations (SBTi - Science Based Targets initiative) and as part of the memberships we have joined (NZAOA, GFA, PSI, PRI). More details can be found in the Environmental matters section.

Materiality concept

UNIQA's success is built on the fact that we understand how the world is changing and how we need to be able to respond to this. Our last materiality analysis took place in 2021 and identified those ESG issues deemed by our stakeholders and our business to be the most important. In 2021, we also conducted a new stakeholder identification process, including the associated weighting. We defined four stakeholder groups from this who are directly affected by our business activities, namely customers, employees, investors and the public.

The materiality analysis forms the basis for our sustainability approach, sustainability strategy and our reporting. The four most important material topics from a stakeholder perspective in 2021 were cyber risks, digital service and customer focus, advice and prevention for natural disasters as well as training and education of employees.

The five most important topics from UNIQA's perspective were the health and safety of employees, data security and processing, training and education, commitment to the environment as well as diversity and equal opportunity.

In the 2023 financial year, we initiated a group-wide project aimed at preparing us for the reporting requirements of the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS), where a "double materiality analysis" redefines the reporting limits. The analysis includes the initial collection and assessment of impacts, opportunities and risks along the value chain, involving key stakeholders such as NGOs and rating agencies. It will be completed in 2024 and will form the basis for our future reporting.

ESG integration

The Supervisory Board deals with sustainability reporting each year in the advisory body of the Audit Committee. Here it decides on the sustainability strategy to be pursued. The Group Executive Board reports to the Supervisory Board on a quarterly basis, looking at progress with regard to environmental and social targets. The ESG Committee is embedded in the governance of the UNIQA Group and is responsible for advising the Group Executive Board. The Supervisory Board also undertakes training sessions every year in order to improve collective knowledge, skills and experience as regards sustainable development. The Annual General Meeting decides on the assessment of the Supervisory Board's performance when granting the annual discharge.

Our key body for sustainability agendas is the Group ESG Committee, which was formed in 2021. It consists of members of the Management Board of UNIQA Insurance Group AG and heads of key departments, meets on a quarterly basis and provides the Management Board with recommendations to help them make decisions on ESG matters. The Committee is responsible for integrating and enhancing ESG factors in insurance, investment and asset management activities, along with the strategic definition and continuous development of ESG-related ambitions for the entire UNIQA Group. Its tasks also include drafting and introducing appropriate guidelines. In addition, the Committee is responsible for supervising the implementation of the Group-wide climate strategy and environmental management, as well as supporting the implementation of strategic initiatives and projects in the subsidiaries.

The Sustainability Management team is part of the Sustain- ability, Ethics and Public Affairs department, which was newly created in early 2020. It is responsible for operationally managing the integration of ESG factors into the UNIQA Group's core business lines. Proposals regarding ESG integration within the company are drawn up and discussed in ESG working groups formed of ESG specialists and/or representatives of various operational units and departments.

In 2023, we started to integrate strategic ESG coordinators into the local organisational structure and governance in all the UNIQA Group's countries and regions. The aim is to establish sustainability in local structures to a greater extent and to tailor relevant initiatives, products and strategies to the countries or regions' specific circumstances.

Part of the variable remuneration for the Management Board of the UNIQA Group and managers in our Austrian core market is linked to climate-related interim targets. Linking the short-term incentive programme and sustainability performance highlights the priority given to these targets. This model will be extended from 2024 onwards to the Management Boards in other markets and will also be linked to a social objective. The Management Board of the UNIQA Group had a remuneration target in 2023 on reducing CO2 in operational management at our larger Austrian locations. This target had a weighting of 25 per cent of the annual target bonus. In addition, individual targets were set for the CEO, the CFO and the Board member responsible for ESG with regard to reducing the weighted average carbon intensity of our investment portfolio (WACI), which accounted for 20 per cent of their annual bonus. The long-term incentives (LTI) also reflected this prioritisation of ESG targets. In each case, 20 per cent of the targets were linked to reduction of the WACI and an increase in the proportion of investments that meet the Paris climate targets (in accordance with the criteria of the Science Based Targets initiative, SBTi). Simi- larly, a provision was introduced for managers in the Austri- an core market that 5 per cent of their variable component is to be allocated in each case to CO2 reduction in operations management and to increasing the proportion of Paris target issuers in our investment portfolio, based on the WACI. We report on the progress of the key figures relevant to remuneration in the section on environmental matters.

Sustainability risks

The UNIQA Group's core business is to protect its customers from risks, minimise these risks through effective bundling and generate profits. To ensure this, the position of Chief Financial and Risk Officer (CFRO) was created at Group lev- el, which is also established on the management boards at the group companies to ensure that decision-making is risk- based.

In accordance with the latest amendment to the delegated act of the Solvency II Directive (2009/138/EC), sustainability risks must be taken into account in the risk management system. This Directive entered into force on 2 August 2022. Our objective in this context is to develop an appropriate and consistent approach to considering sustainability risks, apply this approach at all times and ensure it is updated regularly. The UNIQA Group's risk management actively takes sustainability factors and their impacts into account, and integrates them into the risk strategy and risk management process as well as into internal and external reports. Sustainability risks are treated as part of the general risk classification and are analysed for short, medium and long- term impacts, monitored and reported on as part of the risk management process. The occurrence of sustainability risks may have an actual or potential material adverse impact on the value of the Group's assets, liabilities, financial position or reputation. The results of the sustainability risk identification and assessment process are intended to help support management decisions as part of the UNIQA Group's product design or investment strategy.

In 2023, the UNIQA Group focused on refining its long-term climate scenarios, taking into account the experience from the previous reporting period. A quantitative approach was developed for the entire Group, analysing both the physical and transitory risks in the portfolio. The Group identified sustainability risks in the operational risk cycle at an early stage. The starting point was the implementation of up-

coming changes resulting from a review of the Solvency II quantitative reporting templates. This involves reporting quantitative data on physical and transitional risks directly to the national supervisory authority and the European Insurance and Occupational Pensions Authority (EIOPA). We also improved the process for evaluating outsourcing risks throughout the Group, explicitly taking the sustainability of our outsourcing partners into account. All the relevant ESG data were integrated into our risk analysis software in 2023 to enable the daily monitoring of ESG limit utilisation rates from 2024 onwards.

The UNIQA Group's Natural Catastrophes Competence Centre (NCCC) deals with the complexity and evolution of natural disasters, especially in connection with climate change. The NCCC plays a crucial role in analysing various risk factors for the Group. This includes understanding the risk exposure that changes over time, identifying risk concentrations and calculating the expected annual losses based on specific natural hazards and locations, both individually and on an aggregated basis. An essential part of the NCCC's work is to analyse scenarios that realistically depict future events, including extreme and rare events, as well as the impacts of climate change under different temperature scenarios with a focus on floods, storms and hail. A key feature of the ­NCCC's approach is the use of advanced stochastic models that simulate hundreds of thousands of potential natural events. These models are not only state-of-the-art, but are also regularly refined to incorporate the latest data and methods. A unique feature of the NCCC's approach is that two thirds of these models incorporate the UNIQA Group's own historical claims data and thus offer a tailored risk perspective that differs from the non-specific assessments of general market models. The insights gained from these stochastic natural disaster models are fundamental to the Group's comprehensive natural disaster risk management strategy. The NCCC also plays a crucial role in the assessment of the Group's underwriting and reinsurance strategies, in particular through the annual stress scenario tests.

Material risks related to non-financial concerns are explained in more detail in the respective sections of this report.

Environmental matters

This section describes the influence of environmental matters on our business activities along with the impacts of our business activities on the environment. It explains the concepts and measures in place as well as specific targets and impacts.

The following topics in particular are of material importance in terms of environmental matters: commitment to climate action, commitment to European climate targets, and advice on and prevention of natural disasters. We are tackling these challenges by supporting the transition to a low-carbon economy through our investments and insurance products. It is also our aim to structure our own operational management in an exemplary fashion, taking our environmental and social targets into account.

UNIQA climate strategy

We took our first major step towards implementing our own climate strategy in early 2019, when we approved UNIQA's decarbonisation policy to phase out coal in our investments and underwriting. To pursue more general climate targets, we acceded to the Net-Zero Asset Owner Alliance (NZAOA) in 2021 and the Green Finance Alliance in 2022, committing ourselves to more binding targets. One major success in 2023 was the validation of our interim targets for 2030 by the Science Based Targets initiative (SBTi), both for our investment portfolio and for our own operational management.

The key objectives in UNIQA's climate strategy are as fol- lows:

• Pursuit of climate target trajectory in line with the 1.5 de- grees Celsius target set under the Paris Agreement in investments and underwriting, and operational ecology in compliance with both EU climate change mitigation and climate change adaption targets
• Net-zeroemissions in our business model by 2040 in Austria, and by 2050 throughout the entire Group
• Pursuit of and compliance with science-based interim targets for 2025, 2030 and 2035 based on climate target trajectory in line with the 1.5 degrees Celsius target set under the Paris Agreement

• Increase in sustainable investments to more than €2 bil- lion by 2025
• Prevention of any negative impact on other EU environ- mental targets
• Compliance with minimum social standards

We define net-zero emissions as (a) the reduction of our scope 1, 2 and 3 carbon emissions to zero at best or to a residual level that is compatible with achieving net-zero emissions at global or sectoral level in corresponding scenarios or sector paths within the framework of the 1.5 degrees Celsius tar- get; and (b) the neutralisation of all residual emissions to the net-zero target year and all greenhouse gas emissions subsequently released into the atmosphere.

Validation of our climate targets by the Science Based Targets initiative (SBTi)

Our interim targets to reduce CO2 in our investments and own operational management by 2030 have been successfully reviewed and validated by the Science Based Targets initiative (SBTi) since December 2023. The initiative defines and promotes targets based on scientific findings and independently verifies these targets set by companies. These science based 1.5 degrees Celsius targets are based on a simple principle: they focus on the amount of emissions that must be reduced in order to achieve the central aim of the Paris Agreement - to limit global warming to 1.5 degrees Celsius. In line with the SBTi framework, we have set interim targets for our investment portfolio for 2030 in four areas, which account for 23 per cent of our total investment volume. We are focusing on project financing and corporate loans for power generation, other long-term corporate loans, and listed stocks and corporate bonds. We will implement our Science Based Targets by 2030 with our commitment activities and decarbonisation target trajectory. The UNIQA Group has also set itself SBTi interim targets for our operational manage- ment. We are specifically committed to reducing our direct Scope 1 and indirect Scope 2 greenhouse gas emissions by 42 per cent by 2030 compared to the baseline year 2021.

Environmental matters in investment

In our investment strategy, we are guided by the principles of sustainability, commit ourselves to the climate target trajectory in line with the 1.5 degrees Celsius target set under the Paris Agreement to achieve net-zero emissions across the Group by 2050, and actively promote decarbonisation as a company and investor. By focusing the analysis of our portfolio on CO2, we identify climate risks and opportunities at an early stage and can assess how ready our issuers are for the transformation in line with the Paris Agreement. Failure to comply with ESG criteria in our investment decisions not only has a negative impact on the environment and society, but also carries the risk of reputational damage. Targeted sustainable investments contribute to financing the trans- formation, reduce our exposure to ESG risks and increase sustainability-related opportunities. We engage in intensive dialogue with companies and asset managers to fulfil our role as an investor.

Decarbonisation strategy

As part of our membership in the United Nations Net-Zero Asset Owner Alliance (NZAOA) and the Austrian Green Finance Alliance (GFA), we are committed to the gradual decarbonisation of our portfolio in order to be optimally aligned with the climate target trajectory in line with the 1.5 degrees Celsius target set under the Paris Agreement and achieve net-zero emissions for our investments throughout the Group by 2050.

This year's successful validation of our interim climate targets by the Science Based Targets initiative (SBTi) rounds off our sustainability strategy for investments. By 2030, we aim to gradually transform our portfolio and reduce our Scope 3 emissions, which are largely generated in Scope 3.15 (Investments) by our investments. We also encourage our investors to set science-based climate targets themselves. By working with our specialist data provider ISS (Institutional Shareholder Services), we are able to carry out a detailed analysis of our investments in relation to various sustainability factors.

These data on our investees are necessary, among other things, to ensure our exclusion or phase-out strategy, which provides for the following limitations:

Coal

• First coal exclusion criteria from 2019
• No new direct investments in companies with more than 5 per cent of their revenue from the coal business from 2024
• Phase-outof existing direct investments in companies with more than 5 per cent of their revenue from the coal business by 2030
• New investment products offered will only be coal-free

Oil

• Orderly withdrawal from oil by 2030
• No new direct investments in the expansion of oil infra- structure projects from 2025
• No new direct investments in companies with more than 30 per cent of their revenue from the oil sector from 2025
• Divestment of direct investments in companies with more than 5 per cent of their revenue from the oil business by 2030

Natural gas

• Orderly withdrawal from natural gas by 2035
• No new direct investments in the expansion of natural gas infrastructure projects from 2026
• No new direct investments in companies with more than 30 per cent of their revenue from the natural gas sector from 2026
• Divestment of direct investments in companies with more than 5 per cent of their revenue from the natural gas busi- ness by 2035
• If a company has SBTi-validated targets, carries out EU
  taxonomy­ -aligned activities or publicly commits to the Paris Agreement, an exception can be made for our limits.

Nuclear energy

• No new direct investments in the expansion of nuclear infrastructure projects from 2025
• Divestment of investments in companies with more than 5 per cent of their revenue from nuclear energy by 2035
• If a company has SBTi-validated targets, carries out EU
  taxonomy­ -aligned activities or publicly commits to the Paris Agreement, an exception can be made for our limits.

Carbon emission intensity

Our decarbonisation target trajectory focuses on individual issuers whose greenhouse gas emissions are calculated using the weighted average carbon emission intensity (WACI). This key indicator is calculated for companies as the sum of Scope 1 and Scope 2 emissions relative to the company's revenue,

weighted by our investment volume. We are also observing Scope 3 emissions, but are not currently including them in the key indicator. Once we have meaningful reports on corporate Scope 3 emissions, we plan to take them into account.

We use the values for 2021 as the baseline to measure our activities and targets. On this basis, the UNIQA portfolio's WACI has fallen by 29 per cent from 2021 to 2023 and by 27 per cent since the previous year. This shows the improvement in the efficiency of the companies in which we are in- vested, with regard to their Scope 1 and Scope 2 greenhouse gas emissions in relation to their revenue. As such, we have reached our emissions reduction target of 15 per cent compared to 2021, which was set for the beginning of 2025, a year earlier. The decrease from 2022 to 2023 is mainly due to the reduction in the emission intensity of our existing in- vestments.

Carbon Risk Rating

The Carbon Risk Rating is an overall assessment of companies and countries on a scale of 0 to 100 for climate risk management, determined by ISS. A higher rating indicates improved carbon management. For companies, the assessment is based on more than 100 industry-specific indicators that classify the carbon risk at industry and subsector level. For states, the rating assesses the government's effectiveness in reducing greenhouse gas emissions and adapting to climate risks. The rating is weighted by investment volume. In 2023, our rating improved by 4 per cent compared with 2022, partly due to our investment decisions and partly due to an improvement in internal risk management at the companies we invested in.

2022 2023

ESG performance score

The ESG performance score monitors the ESG profile of our investments and ranges from 0 to 100, with over 50 considered "Prime" and showing above average ESG performance. The score is composed of industry-specific and cross-industry indicators with different weighting depending on the in- dustry. The topics cover dealing with suppliers, the standard of corporate governance in the company as well as environmental aspects. The score is weighted by investment volume. Our ESG performance score remained relatively stable at the ISS Prime level of 51.6 in 2023 compared with 2022.

2022 2023

Absolute financed emissions

Absolute financed emissions provide an indication of the carbon emissions that we finance through our investments in companies and countries. The indicator is calculated by multiplying our holding in a company by its Scope 1 and Scope 2 emissions. We obtain this data from ISS. UNIQA's financed emissions increased by 7 per cent compared with 2022, but are still 21 per cent below their 2021 level. In 2023, the share of companies that have set themselves SBTi emission reduction targets in the total emissions financed by UNIQA increased to 31 per cent (compared with 24 per cent in 2022). For this reason, we expect a future reduction in our corporate portfolio's financed emissions.

In line with our NZAOA membership, we started monitoring other country-specific issues for government bonds in 2023 using the PCAF methodology3). The monitoring is to be used in future for NZAOA reporting and a key indicator is to be derived as a basis for future targets. We are reporting for the first time on the absolute emissions financed from government bonds for 2023.

• The coverage of financed emissions from our investments in listed companies, corporate bonds (excluding collateralised debt) and
  corporate­ loans was 77 per cent for 2023.

The coverage of the total financed emissions from our investments in listed companies, corporate bonds (excluding collat- eralised debt), corporate loans and government bonds was 47 per cent for 2023. In the near future, we plan to increase this coverage by engaging in other asset classes.

Sustainable investments

The UNIQA Group finances issuers that contribute to emission reduction or social projects. Depending on the asset class, we are guided by the sustainability definitions for Green, Social and Sustainability Bonds according to International Capital Market Association (ICMA) principles. Funds are included in our sustainable investments in accordance with Article 9 (dark green funds) of the EU Sustainable Financial Disclosure Regulation (SFDR) and thus represent investments with the pursuit of a sustainability goal as defined by the SFDR. Qualified investments in infrastructure projects are also included in our sustainable investments. The sustainable investment strategy is set out in the UNIQA Group Responsible Investment Standard. Investments made are regularly reviewed by the Risk Management team. UNIQA's sustainable investments increased by 67 per cent to €2.17 billion between 2021 and 2023. This enabled us to exceed our target of €2 billion for 2025 a year earlier. This target was previously set in 2021, including investments in Article 8 funds. However, due to our stricter reclassification of what we define as sustainable investments, these funds are no longer included. Nevertheless, we have achieved our target, mainly due to the significant increase in our investments in Green Bonds, which have more than doubled since 2021. In addition, the share of sustainable installations in our overall portfolio almost doubled in 2023, to 10 per cent. Our sustainable investments including Article 8 funds amounted to €1.7 billion in 2022. With Article 8 funds having been removed from our definition of sustainable investments, the figure for 2022 was €1.46 billion.

Principal adverse impacts

With reference to the EU Sustainable Financial Disclosure Regulation (SFDR) we monitor the diverse criteria for the negative impact of individual issuers on the environment and society - described as principal adverse impacts - and have been reporting on these indicators for the first time since mid-2023 for our investment activities. One focus area is the annual reduction of CO2e emissions. Similarly, we monitor social issues such as non-compliance with the principles of the UN Global Compact or the Organization for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises. We do not make any new investments in companies that violate these principles. Furthermore we do not finance any companies involved in the manufacture or sales of anti-personnel landmines, cluster ammunition or chemical and biological weapons. We also do not finance any countries with no tax cooperation arrangements in place with the EU and do not make any investments in their government bonds.