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SUNCORP Financial Results for the year ended 30 June 2026 AAMI Apia bingle CIL CIO SUNCORP terri scheer vero 12 August 2026 FY26 Financial Results
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| |FY26 Financial Results 2 FY26 Overview Chief Executive Officer & Managing Director Steve Johnston
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| | Growth in underlying earnings with resilient margins at the top end of target range Strong balance sheet and disciplined capital management enabling capital returns to shareholders Top line growth across Consumer, Commercial and Personal Injury and direct New Zealand portfolios Expense ratio improvement demonstrating effective cost management Ongoing strategic portfolio optimisation through sophisticated risk selection and pricing capabilities Clear progress against strategic imperatives and ongoing investment in Artificial Intelligence Continue to enhance earnings resilience through aggregate reinsurance FY26 Financial Results 3 FY26 highlights
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| |FY26 Financial Results 4 Cash earnings $1,042m Underlying insurance trading ratio 11.8% Net investment returns $553m Underlying insurance trading result $1,636m Natural hazard experience $254m above FY allowance Gross written premium $15.4b Result overview ꟷ Underlying earnings increased 4.5% ꟷ Resilient margins retained at the top end of the range ꟷ GWP growth across Consumer, Commercial & Personal Injury and direct New Zealand portfolios ꟷ Cash earnings reflects increased natural hazard experience and investment income below prior period due to mark-to-market movements ꟷ Investment portfolio yields increased to ~5% ꟷ Managed 18 weather events over $10m each, with strong support for customers and communities ꟷ Stronger than expected reserve releases across the Commercial & Personal Injury portfolios
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| FY26 Financial Results 5 Final dividend 52 cps Representing a payout ratio of 71% of cash earnings Special dividend 10 cps To be paid with the final dividend on 22 September 2026 Buy-back $250 m To be completed over FY27, subject to market conditions ꟷ Strong and well managed balance sheet with $518m excess to mid-point of CET1 target range providing capital flexibility1 ꟷ Excess capital released through the placement of the aggregate reinsurance cover and receipt of the deferred New Zealand Life proceeds ꟷ $400m buyback completed in FY26, resulting in 23 million shares cancelled ꟷ $356m to be returned to shareholders in FY27 through: ꟷ Fully franked special dividend of 10cps ꟷ Up to $250m on-market buybacks Strong balance sheet through disciplined and active capital management Note: 1. The pro forma CET1 reduces to $162 million after taking into account the return of capital to shareholders.
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| | Gross written premium FY26 Financial Results 6 Note: All movements are FY26 relative to the prior corresponding period. 1. Presented on a New Zealand dollar basis. The AUD adjusted movement for total New Zealand GWP is (10.0%). ꟷ GWP growth of 3.6% when normalising for foreign exchange movements ꟷ Organic unit growth in both the Home and Motor portfolios in Australia ꟷ Enhanced risk selection and pricing capabilities enabling growth in low risk, target segments ꟷ Commercial growth across both Platforms and Tailored Lines portfolios ꟷ CTP growth supported by pricing increases in NSW and Qld ꟷ Solid performance in New Zealand AA Direct channel with unit growth in Home and Motor portfolios ꟷ Challenging conditions in New Zealand intermediated business impacted by weak economy and soft commercial market Group 2.7% Consumer Home 5.9% Consumer Motor 5.8% Commercial 3.6% Personal Injury 5.5% NZ Direct (AA Insurance)1 New Zealand (Total NZD GWP)1 4.8% 3.2%
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| Design note: Picture may be cropped when inserted. While the picture is selected, go the the ‘Picture Format’ tab. Click the arrow next to ‘Crop’ and select ‘fit’ | ~646,000 SMS customer communications, alongside targeted media activity Capacity to assess ~500 cars a day, through the hail repair drive-through centre for hail damage Supporting our customers and communities through response and recovery efforts On-the-ground support to over 1,900 customers in 45 communities through Mobile Hubs and community forums FY26 Financial Results 7| Natural hazard claims1 Home: 62,700 Motor: 26,200 Natural hazard costs2$2.0bn Weather events above $10m each218 120,000 Commercial: 7,500 NZ: 23,600 Improved Net Promotor Score to +11.73 Australian assessors and claims team supporting New Zealand, as part of our Trans-Tasman Disaster Management Plan Note: 1. Includes event and non-event natural hazard claims. 2. Net of reinsurance. 3. RFI Global – Atlas. As at June 2026 based on a 6-month rolling average amongst an aggregate of Suncorp Group Australian consumer insurance customers.
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| |FY26 Financial Results 8 FY26 Financial Results Chief Financial Officer Jeremy Robson
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| | FY26 financial highlights FY26 Financial Results 9 Increased in all portfolios on a constant currency basis Underlying earnings up 4.5% to $1.6bn Top end of 10-12% target range UITR margin: 11.8% 50bp reduction over FY25 Total expense ratio: 18.1% Reflective of better claims development Prior year reserve releases: $156m Growth across Consumer, C&PI and AAI Direct noting softness in commercial market GWP growth: 2.7% Performance Reduces downside risk to earnings Aggregate cover and investment hedge Resilient earnings with upside opportunity 23m shares or 2% of shares outstanding cancelled $400m buy-back completed in FY26 Fully franked special dividend for all shareholders 10 cps special dividend Return of capital excess to needs of the business FY27 buy-back up to $250m Inclusive of special dividend and FY27 buy-back Proforma CET1: $162m above midpoint Disciplined capital management Incorporated into underlying margins NHA resilience buffer UITR Target range 10-12% Margins maintained in top half of the range Reduced reliance on prior year reserve releases Prior year releases average 40bps
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| FY26 Financial Results 10 ꟷ FY26 underlying ITR at the top end of the 10-12% target range ꟷ Consumer margin improvement supported by continued earn through of pricing initiatives across the portfolio ꟷ C&PI margin driven by pricing in CTP and Workers’ Compensation ꟷ New Zealand margin moderated towards target levels in the second half as pricing from softer market cycle earned through Underlying margin UITR contribution by portfolio ($m) 0.4% FY25 Consumer 0.2% Commercial & Personal Injury (0.7%) New Zealand FY26 11.9% 11.8% UITR outlook Aggregate cover Aggregate Cover Premium Offsetting Benefits Profit commission and savings on catastrophe reinsurance program Loss Ratio Initiatives Pricing FY26 Consumer Commercial & Personal Injury New Zealand FY27 11.8% Top half of the 10-12% rangePricing for inflation and moderating within guiderails Earn-through in PI partially offset by market cycle Moderating with market cycle towards guiderails Includes impact of internal reinsurance Reflects increased margin and relative contribution Reflects increased margin
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| | 51.0% 4.8% FY26 Motor 0.2% 5.7% FY26 Home FY27 Outlook 5.8% 5.9% FY26 Financial Results 11 Consumer 9.6% 9.9%1.5% FY25 Home (1.2%) Motor FY26 ꟷ GWP growth of 5.8% in Motor and 5.9% in Home supported by both growth in both AWP and units, particularly in the new business segment for Motor ꟷ Underlying margin improved by 30bps reflecting portfolio management and pricing for inflation ꟷ Enhanced risk selection and pricing capabilities continue to improve portfolio composition in Home Underlying ITR walk 8% 13% 16% GWP growth Unit AWP Pricing for input costs and modest unit growth Strong niche brands FY26 GWP Growth
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| | ꟷ Continued strong growth in Fleet and NTI, CTP price increases in Qld and NSW, and Workers’ Compensation ꟷ Growth in Platforms reflects remediation activity ꟷ Underlying margin increased by 70 basis points primarily driven by earn through of pricing in both CTP and Workers’ Compensation ꟷ Result includes prior year reserve releases of $177m with releases across all portfolios reflecting better claims development FY26 Financial Results 12 Underlying ITR walk 78.4% Commercial & Personal Injury 10.3% 11.0% 2.3% FY25 (1.6%) Commercial Personal Injury FY26 GWP walk 70 80 FY25 14 Platform Business Commercial (Tailored lines) Compulsory Third Party 31 Workers’ Compensation FY26 4,343 4,538 ($m) GWP by portfolio 37% 25% 32% 6% Workers’ Comp CTP - NSW CTP - QLD CTP - SA / ACT 30% 40% 14% 11% 5% Platforms NTI / Commercial Motor Property Other short-tail lines Long tail Commercial Personal Injury
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| | ꟷ Lower GWP reflects the soft-market cycle, particularly in Commercial, and exit of brokered book of business in Consumer Intermediated ꟷ AA Insurance direct consumer business delivered 3.2% growth supported by unit growth across Home and Motor portfolios ꟷ Margin remains strong but moderating towards target levels in 2H26 reflecting pricing from softer market cycle earning through ꟷ Result includes prior year reserve releases of ~A$50m GWP by channel and product FY26 Financial Results 13 Underlying ITR walkGWP walk New Zealand FY25 (62) Brokered book loss FY25 - Adjusted 32 Direct Consumer (AAI) (16) Intermediated Consumer (Vero) (94) Intermediated Commercial FY26 2,896 2,834 2,756 0.4% 0.2% FY25 Direct Consumer (AAI) Intermediated Consumer (Vero) (0.5%) Intermediated Commercial FY26 19.4% 19.5% (NZ$m) 38% 31% 31% 40% 27% 32% 1% Home Motor Commercial Other Direct consumer Intermediated consumer Intermediated commercial
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| | Consumer C&PI New Zealand Group GWP growth FY26 Financial Results 14 ꟷ Consumer growth to be driven by pricing in home and motor reflecting ongoing inflationary pressures ꟷ Commercial growth driven by Vero speciality lines, fleet, NTI, and rate remediation in Platforms ꟷ Personal Injury growth in line with current trajectory ꟷ New Zealand benefit from growth in AA Direct consumer and intermediated consumer, broadly offset from ongoing soft market cycle ꟷ Assumes FY27 Average NZD / AUD FX Rate of 0.85 ꟷ Growth outlook subject to commercial cycle FY27 GWP growth outlook FY27 Outlook: ~3% to 5% (%)
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| Reinsurance FY26 Financial Results 15 FY27 reinsurance program ($m) ꟷ Reinsurance is managed through lens of long-term shareholder value creation ꟷ FY27 reinsurance program maintains an appropriate balance between cost, earnings volatility and capital efficiency ꟷ 5-year aggregate reinsurance arrangement enhances resilience and reduces volatility ꟷ Aggregate cover is expected to cap natural hazard downside at $50m for FY27 in approximately 90% of scenarios ꟷ Aggregate cover is broadly economically neutral 6,400 Main Catastrophe Cover 1,000 500 Structured Cover Group Dropdown Cover 350 Group Dropdown Cover1 250 Australian Dropdown Cover1 150 Aggregate Cover1 Event 1 2 3 4 Subsequent events AUD350 NZD200 Event 1st NZ 2nd NZ New Zealand buydowns1 FY27 total retention: $1,850m Notes 1. Included as part of the 5-year aggregate reinsurance cover which provides up to $800 million of cover in FY27 across the Aggregate Cover, Group Dropdown Cover below $350 million, Australian Dropdown Cover and the New Zealand buydowns. Included within aggregate cover
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| Investment market impacts FY26 Financial Results 16 Underlying yield Australia insurance funds Portfolio asset allocation (Group) % of total investment assets Investment grade (Group) % of total fixed income; includes ILBs ꟷ Underlying investment yields remain strong supported by higher interest rate environment ꟷ Total investment income reflects mark-to- market movements driven by increases in the risk-free rate ꟷ Highly rated portfolio conservatively positioned with reallocations in line with strategic asset allocation largely complete ꟷ Enhanced resiliency through hedge strategy reducing tail risk for equity investment portfolio with no material drag on investment returns expected ꟷ Minimises volatility of earnings in extreme down-side market scenarios reducing capital requirements 3.9% 4.1% 5.3% 0.5% 0.6% 0.3% FY25 0.2% FY26 4.8% 5.1% Exit yield 0.1% 0.2% Risk-free Credit spreads ILB carry Manager alpha 77% 7% 5% 6% 5% Interest-bearing ILBs Cash Equities Other 34% 23% 24% 19% AAA AA A BBB
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| Operating expenses FY26 Financial Results 17 Operating expenses1 ($m; excluding restructuring, ESL and TEPL) ꟷ Total expense ratio improved 50 basis points reflecting disciplined cost management and revenue growth ꟷ Grow-the-business expense includes ongoing strategic investment in our Digital Insurer program, as well as investments in artificial intelligence ꟷ Run-the-business expenditure reflects the benefits from strategic investment offset by sustained inflationary pressures across workforce and technology Notes 1. Includes NDAE (FY25: $61 million, FY26: $44 million). FY25 21 Run the business 38 Grow the business FY26 1,751 1,810 Total expense ratio (Operating expenses and commissions % of net incurred revenue) 18.6% 18.1% FY25 FY26 -0.5%
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| Capital FY26 Financial Results 18 Excess Common Equity Tier 1 capital ($m) ꟷ Capital position remains strong ꟷ Completed $400m buy-back in FY26 ꟷ An additional buy-back of up to $250m announced for FY27 ꟷ Special dividend of 10cps to be paid ꟷ $162m pro-forma excess to mid-point of CET1 target range after return of capital to shareholders ꟷ Aggregate cover benefits: ꟷ One-off capital benefit of $107m reflecting reduction in target range, ꟷ Reduction in level of excess CET1 above the midpoint in target range reflects lower downside earnings volatility ꟷ NZ$160m NZ Life sale deferred proceeds received on 31 July 518 162 107 Excess CET1 to mid-point (Dec-25) (57) Net organic capital usage (inc. ordinary dividend) (232) 2H26 on-market buy-back Aggregate cover benefit Excess CET1 to mid-point (Jun-26) Special dividend: (106) FY27 Buy-back: (250) Return of capital Pro forma excess CET1 to mid- point (Jun-26) 700
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| | Margin resilience and upside FY26 Financial Results 19 Reported margin – Natural hazard upside opportunity Resilient underlying margins with upside of ~170bps to 220bps on a reported basis assuming average NH experience Hazard experience upside of ~90bps to 140bps2 based on ~$125m to $200m benefit1 Potential upside from profit commissions of ~80bps2 Notes 1. Based on 15-year back test of natural hazard experience is rebased to reflect inflation, current portfolio exposures and the current reinsurance program relative to natural hazard allowance (excluding CHE and profit commission) of $1,800 million. 2. Based on FY26 Net Insurance Revenue Underlying margin resilience Resiliency buffer included in NHA Downside capped at $50m in 90% of scenarios In benign years, average upside relative to the allowance of ~$350m over last 15 years1 Robust natural hazard allowance Diversification into structured credit, infrastructure and property Equity tail risk hedged Enhanced resilience from conservative investments Total prior year reserve releases assumed to be 40bps in underlying margin Low reliance on prior year releases -50 -50 -50 -50 -50 -50 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 15 Year Avg: ~$200m 10 Year Avg: ~$125m 15 Year Back-test of NH Experience vs. NHA1 Target UITR Margin: 10-12% ~170bps to 220bps2 of upside assuming average NH experience Earnings upside Earnings downside
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| |FY26 Financial Results 20 Strategy & Outlook Chief Executive Officer & Managing Director Steve Johnston
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| | Purpose driven, delivering strong outcomes for the long term FY26 Financial Results 21
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| FY27-29 priorities 22FY26 Financial Results Differentiated brands and value propositionsSimple, digital-first customer experiences Building a purpose led high-performance culture, supported by our people who are highly engaged and innovative Leading industry voice on advocacy Aligned risk appetite to support strategy Fulfil ESG and community commitments Deliver on Transitional Services Commitments Building futures and protecting what matters People Foundations Portfolios Portfolio priorities Purpose Personal Injury New Zealand Strategic imperatives Motor Home Commercial Strong balance sheet Operational transformation Platform modernisation Enhanced customer distribution with brokers and strategic partners Leadership in claimsPricing & underwritingProtection & prevention solutions
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| Advancing Suncorp’s transformation 23FY26 Financial Results Building a simplified, modernised pure-play insurer positioned to deliver sustainable shareholder returns and seamless customers experiences Simplifying Portfolio simplification ꟷ Multi-year program of simplification ꟷ Sale of Australian Life business (2019), Wealth (2022), Suncorp Bank (2024) & New Zealand Life (2025) Investing in pure-play Trans-Tasman insurer Modernising the core ꟷ Investing in modern platforms, including new policy administration system ꟷ AI-enabled operational transformation ꟷ Strengthened reinsurance including 5-year aggregate protection Leveraging the investments Unlocking value from investments ꟷ Better products and customer experiences ꟷ Improved claims and operational outcomes ꟷ Increased efficiency and scalability Reshaping insurance Reshaping how insurance products are manufactured and sold ꟷ Highly personalised products, pricing and customer experiences ꟷ New distribution platforms and models ꟷ AI-orchestrated journeys 2019 - 2025 2020 - 2026 2026+ Future state
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| 24FY26 Financial Results Momentum on AI strategy execution Scaled adoption across the insurance value chain, underpinned by solid foundations Customer Engagement Claims Pre-Lodgement Voice Agent Launched in May, underpinned by new agentic customer service platform Conversational AI 3+ million annual customer interactions through 15 conversational assistants Operational efficiency Smart Knowledge 300k+ queries saving 47k+ hours of manual effort Smart PDS 27k+ conversations with 25% faster handling and 97% accuracy Everyday AI Enterprise-wide AI fluency 14.3k+ AI learning experiences undertaken by our people Employee-built agents 3,900+ productivity agents built by our people Agentic Technology foundations • Core AI technologies established (customer interaction, process orchestration, observability), enabling scaled adoption and transformation Strong foundational capabilities AI Strategy and Partnerships • Enterprise-wide AI strategy and global partnership ecosystem to accelerate value creation AI Safety and Guiderails • Robust enterprise-wide AI governance, safety, and assurance frameworks for trusted and responsible AI deployment Workforce Enablement • Experienced AI and Data Science teams supported by an AI- enabled workforce
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| | FY27 Outlook FY26 Financial Results 25 Gross written premium GWP growth expected to be between 3% and 5% reflecting pricing for ongoing inflationary pressures in the Consumer and Personal Injury portfolios, partially offset by ongoing softness in the commercial market. This assumes an FY27 average AUD/NZD FX Rate of 0.85. Underlying insurance trading ratio Expected to be in the top half of the 10% to 12% range including the impact of the premium for the aggregate cover. Prior year reserves Releases in Personal Injury (CTP and Workers’ Compensation) are expected to be around 0.4% of Group net insurance revenue. Expenses Total expense ratio, comprising operating expenses and commissions, expected to be broadly in line with FY26. Strategic targets Delivering a growing business with a sustainable return on equity expected to be above the through-the-cycle cost of equity. Capital management Disciplined approach to active capital management, with a payout ratio around the mid-point of the 60% - 80% range of cash earnings. An on-market share buy-back of up to $250 million in total is targeted to be completed by the end of FY27. Suncorp remains committed to returning capital in excess of the needs of the business to shareholders. |
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| FY26 Financial Results 26| Questions
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| Important Disclaimer This presentation contains general information which is current as at 12 August 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. FY26 Financial Results 27