Slides
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Nick Hawkins Managing Director and Chief Executive Officer CEO Address 2026 Annual General Meeting 22 October 2026
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Annual General Meeting | 22 October 2026 Important information 2 This presentation contains general information current as at 22 October 2026 (unless otherwise stated) and is not a recommendation or advice in relation to any product or service offered by Insurance Australia Group Limited or its subsidiaries (IAG or the Group). It presents financial information on both a statutory basis (prepared in accordance with Australian Accounting Standards which comply with International Financial Reporting Standards (IFRS)) and non- IFRS basis. This presentation is not an invitation, solicitation, recommendation or offer to buy, issue or sell securities or other financial products in any jurisdiction. The presentation should not be relied upon as advice and does not take into account the financial situation, investment objectives or particular needs of any person. The presentation should be read in conjunction with IAG’s other periodic and continuous disclosure announcements filed with the Australian Securities Exchange (available at www.asx.com.au) and investors should consult with their own professional advisers. No representation or warranty, express or implied, is made as to the accuracy, adequacy, completeness or reliability of any statements (including forward-looking statements or forecasts), estimates or opinions, or the accuracy or reliability of the assumptions on which they are based. Any forward-looking statements, opinions and estimates in this presentation are based on assumptions and contingencies that are inherently uncertain and which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. This includes statements regarding IAG’s strategy, targets, goals, ambitions, intent, belief, objectives, commitments and current expectations regarding, but not limited to, IAG's business, results, financial condition, capital adequacy, risk management practices and market conditions. Forward-looking statements may generally be identified by the use of words such as "should", “would”, “could”, “will”, “may”, “expect”, “intend”, “plan”, “forecast”, “aim”, “anticipate”, “believe”, “outlook”, “estimate”, "project", “target”, “goal”, “ambition”, “continue”, “guidance”, “aspiration”, “commit” or other similar words. Guidance on future earnings or performance are also forward-looking statements. While IAG currently believes the forward-looking statements to be reasonable, such statements involve risks (both known and unknown) and assumptions, many of which are beyond IAG's control (including adverse natural peril events causing losses to exceed forecasts, uncertainties in the Australian and global economic environment, changes in the regulatory environment and the evolving technological landscape). This may cause actual results, outcomes, conditions or circumstances to differ materially from those expressed, anticipated or implied in such statements. For further information on some of IAG's key risks see 'Note 3.1 Risk and Capital Management' in IAG's FY26 Annual Report available at www.iag.com.au. In addition, there are particular risks and uncertainties associated with implementation of IAG’s strategy and related targets, ambitions and goals, which span a number of years including IAG’s ability to execute its strategy and respond and adjust its business plans to any changes in underlying assumptions and dependencies, including disruptions or events that are beyond IAG’s control. A number of IAG’s 2030 ambitions assume successful completion of the acquisition of RAC Insurance Pty Limited which remains subject to regulatory approvals and customary closing conditions. Neither IAG, nor any other person, gives any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this presentation will actually occur and undue reliance should not be placed upon such statements. IAG assumes no obligation to update such information (except as required by law). Past performance is no guarantee or indication of future performance. To the maximum extent permitted by law, IAG and each of its directors, officers, employees, agents and advisers disclaim all liability and responsibility for any direct or indirect loss, costs or damage which may be suffered by any recipient through use of or reliance on anything contained in, implied by or omitted from this presentation. IAG’s directors and members of the Group’s management may also make forward-looking statements in connection with this presentation, whether spoken or written, including in the addresses by the Chair and the Managing Director and Chief Executive Officer to IAG's 2026 Annual General Meeting. These statements carry the same qualifications, limitations and assumptions as those included in this presentation. References to currency are to Australian dollars, unless otherwise specified. Prevailing exchange rates have been used to convert local currency amounts into Australian dollars, where appropriate. Further information, including IAG’s business structure, portfolio and partnerships is available on IAG’s website at https://www.iag.com.au/about-us/what-we-do.
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Annual General Meeting | 22 October 2026 FY26 outcomes demonstrate strategic focus 1Refer to the important information on slide 2 of the CEO slides released with IAG’s 2026 Annual General Meeting materials on 22 October 2026, available at www.iag.com.au. 2Roy Morgan Trusted Brand Awards for 2025. Customers ~9.5m Customer experience (tNPS) 54.7 AU 63.0 Supporting customers & communities Financial strength and operational excellence AI Acceleration New OpenAI partnership Benefits across Claims, Customer Experience and Sales & Service Net Profit After Tax $1,022m (down 24.8% as FY25 elevated by favourable perils and BI release) Final Dividend 20cps (up 1cps) FY25: 45.1 FY25: 54.5 Growth momentum Gross Written Premium $18,412m (up 7.6%) Underlying Insurance Profit $1,578m (up 2.3%) 4.8% 5.1% RIA direct growth NZ direct growth #1 NRMA Insurance most trusted insurance brand 2 NZ Return on Equity 13.9% (up 190bps on FY21) Claims paid ~$12.4bn (up ~1m on FY21) Earnings per share 43.4c (up 39% on FY21) Employee engagement 75% (up from 73% in FY25) NRMA Insurance Recipient of Canstar's Most Trusted Brand – Home & Car Insurance Award 2026 3
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Annual General Meeting | 22 October 2026 Ambition 2030 Delivered through leading owned and partner brands We make the world a safer place for 33 million Australians and New Zealanders Customer 11m+ Customers 55 tNPS $25bn+ GWP People High performing culture Engagement 80% Community Leading advocacy role in risk reduction Shareholder ROE 15%+ High single-digit EPS growth 1. Targets assume completion of the acquisition of RAC Insurance which is subject to regulatory approvals and customary closing conditions. Refer to the Important Information on slide 2 of the CEO slides released with IAG’s 2026 Annual General Meeting materials on 22 October 2026, available at www.iag.com.au. 1. 4
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Annual General Meeting | 22 October 2026 Delivering against ambitious targets 5 $18.4bn Gross Written Premium up 46% $6.30 GWP/PCA up 24% $1,552m Reported Insurance Profit up 54% 9.5m Customers up ~1m $7.88 GWP/per share up 55% 11.6% Admin ratio ex-levies down 110bps $1,578m Underlying Insurance Profit up 44% 13.9% Return on Equity up 190bps 43.4c Earning per share up 39% 12.6 18.4 FY21 FY26 1,095 1,578 FY21 FY26 1,007 1,552 FY21 FY26 12.7 11.6 FY21 FY26 31.2 43.4 FY21 FY26 8.5 9.5 FY21 FY26 5.1 7.9 FY21 FY26 5.1 6.3 FY21 FY26 12.0 13.9 FY21 FY26 FY21 – FY26 progress
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Annual General Meeting | 22 October 2026 We make your world a safer place Our Strategy A stronger IAG helping more of Australia and New Zealand Our Purpose Our refreshed strategy Our Priorities Customer Obsession Future Fit Operations Exceptional People Insurance Excellence Our Values Honest and upfront Easier together Act and own it Reimagine today Treat everyone fairly 6
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Annual General Meeting | 22 October 2026 Market leader Protecting more customers across Australia and New Zealand Leading brands Member-based retail brands, strong commercial brands, leading products, and omnichannel distribution Claims management expertise Integrated supply chain Technology Built for AI adoption at scale Data Customer intelligence and sophisticated underwriting IAGʼs Ambition 2030 winning formula 7 Low volatility earnings supported by capital lite balance sheet 15%+ Return on equity High-single digit EPS growth Sustainable growing dividend Mid-single digit GWP growth Scale efficiencies Lower claims and administration unit costs Refer to the important information on slide 2 of the CEO slide pack, particularly the risks in relation to forward looking statements.
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Annual General Meeting | 22 October 2026 Scaled Modern Platform Delivered Delivering the Future AI Acceleration Deploy for our people Compose with builders Shape with activators Our technology transformation supports Ambition 2030 8 Customer experience Sales & Service Claims • Retail Enterprise Platform complete, extension to RACQ, RACV underway • Commercial Enterprise Platform migration in-flight • Contact centre transformation complete in NZ and now moving to Australia • Optimised for generative search and chat • Simply configured personalised products • Agentic commerce ready • Connected Cloud native platforms • Zero touch claims workflows orchestrated by Agents • Real-time feedback to pricing • Seamless Integrations Making AI tools available to everyone 80% of workforce; 110 Agents Democratise agent development Over 600 Activators; 123 Agents Reimagining end-to-end insurance processes 2,000+ people; 39 AI Solutions
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Annual General Meeting | 22 October 2026 Maintaining presence and relevance wherever customers chose to engage with insurance Broker Customer search, quote and buy assisted by AI 9 Our distribution model features leading brands
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Annual General Meeting | 22 October 2026 #1 most trusted Insurance Brand #1 consideration in QLD #1 consideration in VIC Leading retail insurer in NZ Strong foundations with ~60% of revenue from 4 leading member organisations Reach AU-wide excl Victoria Victoria Queensland NZ-wide Members 3.3m 2.3m 1.7m NA Term Owned + in perpetuity In perpetuity 25 years (from 2025) + options Owned Customers ~4m ~1.4m ~ 870k ~800k FY26 GWP ~A$6.0bn ~A$2.3bn ~A$1.3bn* ~NZ$1.1bn Retention rate ~86% ~89% ~84% ~90% 10 *For the 10 months since completion of the strategic alliance. Annual premiums are ~$1.6bn
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Annual General Meeting | 22 October 2026 FY27 guidance1 1 Refer to the Important Information on slide 2 of the CEO slides released with IAG’s 2026 Annual General Meeting materials on 22 October 2026, available at www.iag.com.au. This assumes: • FY27 natural perils allowance of $1,491m, in line with attachment point of the long-term perils volatility cover; • no material prior period reserve releases or strengthening; and • no material movement in macro-economic conditions including foreign exchange rates or investment markets. Reflects premium increases that cover claims inflation combined with direct customer and volume growth, along with: • Underlying growth in AU and NZ retail businesses of mid single- digits; • Underlying growth in AU and NZ intermediated businesses of low single-digits; and • Additional two months of RACQI premiums (~$300m) and multi-year workers’ compensation premiums (~$100m) offset by exit of Honey portfolio (~$150m). 14.5% to 16.5% 5% to 8% GWP growth Reported insurance margin 11