Slides
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BB SEGUROS BB Seguridade Earnings 2Q26
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2/12 Insurance retained premiums Pension plans reserves Pension plans net inflow Premium bonds collections R$7.0 bn -0.4% YoY R$496.5 bn +10.6% YoY R$2.8 bn -R$5.2 bn (1H25) R$3.4 bn -3.0% YoY Lottery prizes paid R$41.8 mm +36.1% YoY In 1H26 R$3.5 billion (+0.3%) R$909.1 million (+16.0%) R$3.9 billion Operating result², with improved loss ratio financial result², with higher profitability in dividends distributed, 88% payout¹ (R$1.98 per share) R$4.4 billion(+3.2%) net income¹ *Changes on 1H25. 1 – Managerial net income (does not consider IFRS 17 standards and extraordinary events) 2 – Consolidated, net of taxes, considering the effective tax rate and the equity stake of BB Seguridade in each company
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3/12 Our numbers
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4/12 Recurring net income and net investment income¹ Recurring net income (R$ mm) Consolidated net investment income³ (R$ mm) 1 – Does not consider IFRS 17 standards | 2- Adjustment of the one-month lag in the IGP-M accrual on defined benefited plans of Brasilprev | 3- Net of taxes considering the effective tax rate of each company. 2,240 2,152 4,236 4,372 2,320 2,215 4,394 4,405 2Q25 2Q26 1H25 1H26 Recurring net income Normalized net income² (80) (63) (158) (33)IGP-M lag +3% 464 386 784 909 20.7% 17.9% 18.5% 20.8% 2Q25 2Q26 1H25 1H26 Net investment income % net investment income in the net income +16%
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5/12 (11) 54 38 (39) 4,246 42 125 (41) 4,3724,236 (32) 1 –Changes on retained claims and acquisition costs, considering the ratios reported in 1H25. +R$10 mm Operating result change +R$126 mm Net investment income change Recurring net income main components -R$18 mm (1H26) vs. +R$23 mm (1H25) +3.2%
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6/12 Performance ratios (%) Net investment income (R$ mm) Premium written (R$ bn) Premiums written by segment Recurring net income (R$ mm) Retained premiums (R$ bn) YoY: -8% YoY: -2% YoY: -5% YoY: -1% Insurance Rural Term life Credit life Home Corporate Mortgage life 22.3% 21.2% 3.9% 3.3% 2.3% Breakdown of premiums 1H26 46.7% 3.7 3.5 7.8 7.5 2Q25 2Q26 1H25 1H26 -4% Chg. On 1H25 (6.2%) (5.2%) (0.7%) +22.9% (0.3%) (0.6%) On 2Q25 (11.4%) (5.5%) +5.0% +24.4% (5.7%) (0.2%) 3.4 3.3 7.0 7.0 2Q25 2Q26 1H25 1H26 -0.4% 31.2 32.7 30.8 32.6 21.5 21.8 23.8 22.9 10.5 9.8 10.5 10.3 63.2 64.4 65.0 65.7 2Q25 2Q26 1H25 1H26 Commission ratio Loss ratio G&A ratio Combined ratio 311 285 593 571 2Q25 2Q26 1H25 1H26 -4% 1,258 1,232 2,363 2,344 2Q25 2Q26 1H25 1H26 -1%
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7/12 41 38 41 38 2Q25 2Q26 1H25 1H26 -2.4 p.p. Contributions (R$ bn) Net inflow (R$ bn) Reserves (R$ bn) YoY: +4% 449 459 466 484 496 Jun/25 Sep/25 Dec/25 Mar/26 Jun/26 YoY: +11% Pension plans 1 – Source: Quantum Axis. Mgmt. fee (R$ mm) Managerial net income (R$ mm) YoY: -19% YoY: +8%Cost to income ratio (%) Net investment income (R$ mm) YoY: -2.8 p.p. 10 10 23 25 2Q25 2Q26 1H25 1H26 +7% -4 -1 -5 3 10.6% 8.3% 11.1% 8.1% 2Q25 2Q26 1H25 1H26 Net inflow¹ Redemption ratio 928 997 1,848 1,975 0.87% 0.84% 0.87% 0.85% 2Q25 2Q26 1H25 1H26 Management fee Avg. management fee 15.5% % of multimarket funds on P/VGBL AuM 15.2% 15.5% 15.2% +7% 144 -49 181 255 2Q25 2Q26 1H25 1H26 +41% 416 337 772 876 2Q25 2Q26 1H25 1H26 +13%
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8/12 Collections (R$ mm) Reserves (R$ mm) Lottery prizes paid (R$ mm) Net investment income Net income (R$ mm) 11,279 11,643 11,361 11,369 11,492 Jun/25 Sep/25 Dec/25 Mar/26 Jun/26 YoY: -12% YoY: +2% YoY: +1% YoY: +17% YoY: +7% Premium bonds 1,849 1,618 3,508 3,403 2Q25 2Q26 1H25 1H26 -3% 15 18 31 42 2Q25 2Q26 1H25 1H26 +36% 123 132 197 273 4.2 4.4 3.1 4.2 2Q25 2Q26 1H25 1H26 Net investment income (R$ mm) Net interest margin (p.p.) +39% 74 75 128 179 2Q25 2Q26 1H25 1H26 +40%
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9/12 Brokerage revenue breakdownBrokerage revenues (R$ mm) Net margin (%) Net income (R$ mm) YoY: -3% Insurance 81.3% Pension plans 8.4% Premium bonds 9.9% Other 0.4% 1H25 Insurance 82.5% Pension plans 9.6% Premium bonds 7.3% Other 0.5% 1H26 YoY: -3% YoY: -0.1 p.p. BB Corretora 1,410 1,371 2,811 2,791 2Q25 2Q26 1H25 1H26 -1% 62.7 62.6 61.7 62.1 2Q25 2Q26 1H25 1H26 +0.5 p.p. 884 858 1,733 1,734 2Q25 2Q26 1H25 1H26 +0.1%
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10/12 Guidance
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11/12 1 – Sum of the adjusted non-interest operating results before income taxes of Brasilseg, Brasilprev, Brasilcap, Brasildental and BB Corretora, weighted by the equity stake of BB Seguridade in each company. Guidance 2026 11%8% 11.0% Observed 1H26 2% -3.5% Observed 1H26 -3% -3% -0.2% Observed 1H26 -7% PGBL and VGBL pension plans reserves of Brasilprev Premiums written of Brasilseg Non-interest operating result (ex- holding)¹
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12/12 Contacts Investor Relations Rua Alexandre Dumas, 1671 – Térreo – Ala B Chácara Santo Antônio – São Paulo - SP CEP: 04717-903 Telephone: (11) 4297-0730 ri@bbseg.com.br bbseguridaderi.com.br/en