Slides
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| v Investor update SUNCORP GROUP LIMITED ABN 66 145 290 124 29 October 2026 9:00am (AEDT)
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| |Investor Update October 2026 2 Introduction and overview Chief Executive Officer & Managing Director Steve Johnston
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| | Agenda Investor Update October 2026 3 9:00am Introduction and group strategy Steve Johnston – CEO & Managing Director 9:10am Round table with CEOs Michael Miller – CE Consumer Lisa Harrison – CE Commercial & Personal Injury Jimmy Higgins – CEO Suncorp New Zealand Bridget Messer – CE Customer, Brand & Digital 9:40am Financials Jeremy Robson - CFO 9:50am Questions Executive Leadership Team 10:30am Break 10:40am Breakout sessions
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| | Purpose driven, delivering strong outcomes for the long term Investor Update October 2026 4
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| | Advancing Suncorp’s transformation Investor Update October 2026 5 • Multi-year program of simplification • Exited non-core businesses Portfolio simplification 2019 - 2025 • Investing in modern platforms, including new policy administration system • AI-enabled operational transformation • Enhanced resilience through reinsurance Investing in the pure-play 2020 - 2026 • Better products and customer experiences • Improved claims and operational outcomes • Increased efficiency and scalability • Highly personalized products, pricing and customer experiences • New distribution platforms and models Leveraging the investments 2026+ Unlocking new growth Future state Building a simplified, modernised pure-play insurer positioned to deliver sustainable shareholder returns and seamless customer experiences • Pursuing growth in insurance value chains • Business model evolution 1 2 3 4
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| | Strong positions in attractive markets Long-term growth drivers provide structural tailwinds for ongoing topline growth Investor Update October 2026 6 HOME 25% market share $3.4bn GWP MOTOR 27% market share $5.1bn GWP C&PI Commercial 9% PI 27% market share $4.5bn GWP NEW ZEALAND 25% market share NZ$2.8bn GWP Notes: Long-term growth drivers • Growth in housing stock • Building cost inflation Suncorp opportunities: • Loss ratio initiatives • Supply chain initiatives including Home Repair • AI-enabled distribution through a multi-brand strategy • Risk selection Long-term growth drivers • Growth in the EV pool • Vehicle value & repair-cost inflation Suncorp opportunities: Long-term growth drivers • Business formation & wage growth • Regulatory & scheme expansion opportunities Suncorp opportunities: Long-term growth drivers • Market recovery from current soft cycle • Broader economic recovery • Repair cost inflation Suncorp opportunities: • Loss ratio initiatives • Repair network • AI-enabled distribution through a multi-brand strategy • Vero Specialty Lines expansion • Broker connectivity • NZAA membership penetration • Corporate partner opportunities • Broker connectivity and new schemes 1. GWP figures as at 30 June 2026. 2. Home and Motor market share sourced from RFI Global as a 6-month rolling average as at June 2026. 3. Commercial and Personal Injury market share are calculated using APRA industry data on a rolling 12-month basis to June 2026 and Suncorp data. 4. Suncorp New Zealand market share sourced from ICNZ, rolling twelve-month view as at June 2026.
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| | Suncorp’s competitive positioning Strong competitive advantages, enabled by quality assets and capabilities Investor Update October 2026 7 Our competitive strengths, combined with investment in technology and capital management drives sustainable profitable growth and attractive shareholder value creation Customer access Resulting in: Technology leadership Scale Resilience Resulting in: Resulting in: Resulting in: • Lower acquisition costs • Greater growth opportunities • Tailored products for each market segment • Better customer outcomes • Lower cost to serve • Access to continuous innovation • Optimising pricing vs returns • Improved customer experiences • Reduced volatility • Resilient margins Wholly-owned brands Multi-brand proposition Multi-distribution (direct and broker) Multi channel and AI aligned Cloud-based Modern policy admin system AI-enabled processes Pricing excellence Claims capability Supply chains Operational efficiency Disciplined capital management Conservative investment portfolio Optimised reinsurance settings
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| | Artificial intelligence Scaled adoption across the insurance value chain Distribution Leveraging our investments in platform modernisation and artificial intelligence is at the core of Suncorp’s strategy Investor Update October 2026 8 AI-enabled workforce Platform modernisation Digital Insurer | Three differentiating capabilities Productivity Manufacturing Automation & decision support AI customer journeys New distribution platforms & models Personalised product & pricing Underwriting & risk selection Digital first Seamless end-to- end digital sales and service journeys Modern platform Reusable capabilities across brands, with continuous access to platform, security and AI innovation Intelligent decisioning Pricing, data, analytics and AI enabling faster, more informed decisions at scale Empowered customers Customers using AI Customer complaints – early identification & escalation
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| |Investor Update October 2026 9 Round table with CEOs Chief Executive Consumer Insurance Michael Miller CEO Suncorp New Zealand Jimmy Higgins Chief Executive Commercial and Personal Injury Insurance Lisa Harrison Chief Executive Customer, Brand & Digital Bridget Messer Chief Executive People, Legal & Corporate Services Moderator Belinda Speirs
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| | Consumer Insurance Investor Update October 2026 10 Leading provider of protection and prevention solutions that deliver exceptional customer value COMPETITIVE ADVANTAGES TOP PRIORITIES Trusted brands Mass market and niche propositions Customer experience culture Customer access System investment Digital Insurer rollout Innovation mindset Technology leadership Customer and claims outcomes Deep insurance expertise Scale 1 2 3 Drive sustainable growth in attractive core and adjacent markets Deliver valued customer experiences Build a simpler and smarter organisation
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| | Commercial & Personal Injury Insurance Investor Update October 2026 11 Disciplined growth engine underpinned by differentiated capabilities and strong portfolio management COMPETITIVE ADVANTAGES TOP PRIORITIES Broker franchise Diversified portfolio Customer access Broker platform connectivity Modernised product capability Technology leadership Claims excellence Pricing expertise Broad distribution Scale 1 2 3 Strengthen portfolio quality Accelerate targeted growth Improve customer and claims outcomes
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| | Customer, Brand and Digital Investor Update October 2026 12 Profitable growth through brand trust, scale and customer relationships COMPETITIVE ADVANTAGES TOP PRIORITIES Trusted, distinctive brands Strong direct customer relationships High digital penetration Customer access Generative engine optimisation program Emerging AI distribution applications Technology leadership Reusing capabilities across brands Scale 1 2 3 Win in AI-assisted distribution Improve customer experiences and outcomes Drive profitable growth and loyalty
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| | New Zealand Investor Update October 2026 13 Profitably grow market share and become the category leader in service COMPETITIVE ADVANTAGES TOP PRIORITIES Strong, trusted brands Comprehensive offering Deep partner relationships Access to NZAA members Customer access Digital Insurer in AA Insurance Sentiment analysis capability Scalable platforms for productivity Technology leadership NZ’s second largest insurer Leverage Suncorp’s Trans-Tasman scale Rich data history, competitive moat Proven event response Scale 1 2 3 Outstanding service Pricing with precision, disciplined differentiation Future-ready capabilities 1 2 3 Supported communities Efficient operations Personalised experiences
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| |Investor update October 2026 14 Financials Chief Financial Officer Jeremy Robson
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| | Distinctive investment proposition delivers shareholder value Investor Update October 2026 15 System growth Capital management reducing share count Ordinary dividends: ~60-80% Cash earnings Business needs: ~20% through the cycle Excess capital returned to shareholders Investment in the business Benefits redeployed into competitive proposition for customers Growth Profitable customer growth 1 Growth in earnings per share Insurance inflation above CPI Growth in housing stock / building costs Growth in electric vehicle (EV) pool Business formation Opportunities ̶ Loss ratio initiatives ̶ AI-enabled distribution ̶ Vero specialty lines expansion ̶ Broker connectivity across C&PI and NZ ̶ NZAA membership penetration
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| | Distinctive investment proposition delivers shareholder value (cont.) Investor Update October 2026 16 10.0% 10.2% 12.0% 11.8% 12.0% 11.8% 1H23 2H23 1H24 2H24 1H25 2H25 1H26 2H26 Consistent delivery of UITR margins in top half of target range Growth in tangible book value (TBV) per share Five-year CAGR1 11.2% 3.9% 1.6% -1.7% 10.8% SUN Aus Financials (ex Banks) Aus Banks Major European Insurers Major North American Insurers Notes 1. Australian Financials (ex. Banks) reflects average of 29 financial service companies listed on the ASX, excluding fleet leasing and exchange and market services companies. International peer sets reflect general insurance peers only. Data as at 23 October 2026 (Source: FactSet). 2 Strong risk-adjusted returns with reduced volatility 3 Disciplined capital management and value creation 11.2% 11.7%
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| | Low risk-adjusted returns Investor Update October 2026 17 Strong absolute returns with lower relative risk1 Superior risk-adjusted share price returns2 0.69 0.62 0.50 0.69 Suncorp ASX 100 Peer 1 Peer 2 18.8% 11.4% 16.4% 19.5% 3 Year Annualised Share Price Return 3 Year Sharpe Ratio ` 0.4 0.5 0.6 0.7 0.8 0.9 1.0 1.1 1.2 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 NTM ROTE (%) Bloomberg Adjusted Beta Aus Banks Aus Financials (ex Banks) SUN Major Japanese Insurers Major North American Insurers ASX100 High returns, Low beta Low returns, High beta Notes 1. Beta and ROTE reflect average of selected peer sets. Australian Financials (ex. Banks) reflects average of 29 financial service companies listed on the ASX, excluding fleet leasing and exchange and market services companies. International peer sets reflect general insurance peers only. NTM ROTE sourced from FactSet. Data as at 23 October 2026. 2. Sharpe ratio calculated as annualised total returns less risk-free cash rate divided by annualised standard deviation of returns (Source: Bloomberg, RBA). Data as at 30 September 2026. Potential reduction in SUN beta due to aggregate cover
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| | FY27 Outlook Investor Scorecard Successful execution of our strategy will deliver sustained shareholder value Investor Update October 2026 18 GWP growth at or above system Operating expense ratio remains well managed and a competitive advantage Resilient margins with reduced downside risk, while retaining optionality to participate in upside Strong returns on both an absolute and relative basis Surplus capital returned to shareholders Notes 1. Assumes an FY27 average AUD / NZD FX Rate of 0.81 Total expenses ratio: Broadly in line with FY26 Prior year reserves: Personal Injury releases expected to ~0.4% of Group net insurance revenue UITR margin: Top half of 10-12% range for full year, modestly skewed to 2H Restructuring costs: Expected to be ~$30m Buyback: FY27 buyback of $250m underway GWP growth: Expected to be around 3%1 and skewed to 2H, reflecting loss of a $125m commercial contract and weaker NZD
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| |Investor Update October 2026 19 Questions
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| | Important Disclaimer This presentation contains general information which is current as at 29 October 2026. It is information given in summary form and does not purport to be complete. It is not a recommendation or advice in relation to Suncorp Group Limited (Suncorp) or any product or service offered by Suncorp or any of its subsidiaries. It is not intended to be relied upon as advice to investors or potential investors, and does not take into account the investment objectives, financial situation or needs of any particular investor. These factors should be considered, with or without professional advice, when deciding if an investment is appropriate. This presentation should be read in conjunction with all other information concerning Suncorp filed with the Australian Securities Exchange (ASX). The information in this presentation is for general information only. To the extent that the information is or is deemed to constitute forward-looking statements, the information reflects Suncorp’s intent, belief or current expectations with respect to our business and operations, market conditions, results of operations and financial condition, capital adequacy, specific provisions and risk management practices at the date of this presentation. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties, many of which are beyond Suncorp’s control, which may cause actual results to differ materially from those expressed or implied. There can be no assurance that actual outcomes will not differ materially from these forward-looking statements. Suncorp undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this presentation (subject to ASX disclosure and legislative requirements). There are a number of other important factors which could cause actual results to differ materially from those set out in this presentation, including the risks and uncertainties associated with the Australian and global economic environments. Investor Update October 2026 20