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Avoid putting content on the brand signature area Brand Colours Background Colours Other Colours R 10 G 133 B 67 R 229 G 248 B 236 R 233 G 104 B 18 R 255 G 252 B 208 R 6 G 116 B 122 R 230 G 245 B 246 Text Colours Page 1 INTACT FINANCIAL CORPORATION (TSX: IFC) Q4-2025 INVESTOR PRESENTATION Make it Intact
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Forward-looking statements Certain of the statements in this presentation about the Company’s current and future plans, expectations and intentions, results, levels of activity, performance, goals or achievements or any other future events or developments constitute forward-looking statements. The words “may”, “will”, “would”, “should”, “could”, “expects”, “plans”, “intends”, “trends”, “indicates”, “anticipates”, “believes”, “estimates”, “predicts”, “likely”, “potential” or the negative or other variations of these words or other similar or comparable words or phrases, are intended to identify forward-looking statements. Unless otherwise indicated, all forward-looking statements in this presentation are made as at December 31, 2025, and are subject to change after that date. This presentation contains forward-looking statements with respect to the impact of economic and other external conditions on the Company’s operations and financial performance. Forward-looking statements are based on estimates and assumptions made by management based on management’s experience and perception of historical trends, current conditions and expected future developments, as well as other factors that management believes are appropriate in the circumstances. In addition to other estimates and assumptions which may be identified herein, estimates and assumptions have been made regarding, among other things, the economic and political environments as well as industry conditions. Many factors could cause the Company’s actual results, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, credit, market, liquidity, operational, strategic and legal risks and the risks discussed in Section 26.2 – Top, Emerging and Transversal risks and Section 26.3 - Other risk factors that may affect future results of this presentation for the year ended December 31, 2025, including a major earthquake risk, physical climate risk and weather-related catastrophe events, non-natural catastrophe risks, reserving inadequacy, underwriting inadequacy, turbulence in financial markets, cyber security failure, increased competition and disruption, governmental and/or regulatory intervention, third-party risk, acquisition and divestiture risk, customer satisfaction risk, legal risk, reinsurance risk, people risk, the risk of business interruption to our operations, credit downgrade risk, limit on dividend and capital distribution risk, distribution risk, employee defined benefit pension plan risk, inability to contain fraud and/or abuse, social unrest, project and change risk, artificial intelligence risk, geopolitical risk, quantum computing risk, autonomous vehicles risk as well as climate transition risk. All of the forward-looking statements included in this presentation are qualified by these cautionary statements and those made in the section entitled Risk management (Sections 24 to 27) of our MD&A for the year ended December 31, 2025 and the Company’s Annual Information Form for the year ended December 31, 2025. The MD&A for the year ended December 31, 2025 and the Company’s Annual Information Form for the year ended December 31, 2025 are available on SEDAR+ at www.sedarplus.ca. These factors are not intended to represent a complete list of the factors that could affect the Company. These factors should, however, be considered carefully. Although the forward-looking statements are based upon what management believes to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward- looking statements. When relying on forward-looking statements to make decisions, investors should ensure the preceding information is carefully considered. Undue reliance should not be placed on forward-looking statements made herein. The Company and management have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. 2 Disclaimer This presentation does not constitute or form part of any offer for sale or solicitation of any offer to buy or subscribe for any securities nor shall it or any part of it form the basis of or be relied on in connection with, or act as any inducement to enter into, any contract or commitment whatsoever. The information contained in this presentation concerning the Company does not purport to be all-inclusive or to contain all the information that a prospective purchaser or investor may desire to have in evaluating whether or not to make an investment in the Company. The information is qualified entirely by reference to the Company’s publicly disclosed information. No representation or warranty, express or implied, is made or given by or on behalf of the Company or any of its the directors, officers or employees as to the accuracy, completeness or fairness of the information or opinions contained in this presentation and no responsibility or liability is accepted by any person for such information or opinions. In furnishing this presentation, the Company does not undertake or agree to any obligation to provide the attendees with access to any additional information or to update this presentation or to correct any inaccuracies in, or omissions from, this presentation that may become apparent. The information and opinions contained in this presentation are provided as at the date of this presentation. The contents of this presentation are not to be construed as legal, financial or tax advice. Each prospective purchaser should contact his, her or its own legal adviser, independent financial adviser or tax adviser for legal, financial or tax advice.
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Strategic overview Pages 4 to 11 Capital management Pages 12 to 18 3 Appendix Pages 19 to 20
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Avoid putting content on the brand signature area Brand Colours Background Colours Other Colours R 10 G 133 B 67 R 229 G 248 B 236 R 233 G 104 B 18 R 255 G 252 B 208 R 6 G 116 B 122 R 230 G 245 B 246 Text Colours Page 4 A leading international provider of P&C insurance Largest provider of P&C insurance in Canada Leader in Commercial lines in the UK and Ireland Leading Specialty lines insurer with international expertise Our Values Our Values guide our decision-making, keep us grounded, help us outperform and are key to our success. Integrity Respect Customer- driven Excellence Generosity Our Purpose We are here to help people, businesses and society prosper in good times and be resilient in bad times. Our Market-Leading Brands $89B addressable market $500B+ addressable market £25B+ addressable market CAPITALSTRATEGY
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76% of our Personal Lines customers1 are our advocates 5 Our strategic objectives: What we are aiming to achieve 2025 results 2025 resultsStrategic objectives Best Employer2 in Canada (10th year), the US (7th year), 1st year for UK & Ireland 28% reduction in our operations emissions6,7 39% of VP+ roles globally are held by women 92% of brokers in Canada, US and the UK value our specialized expertise 670 bps 10-year average ROE3,4 outperformance 12% NOIPS3 10-year CAGR 63% of stakeholders globally recognize us as leaders5 1. We track advocacy scores amongst Personal Lines customers only. This includes customers who had a transaction with us in Canada and Ireland. 2. Named Best Employer by Mercer. 3. These are Non-GAAP financial measures, Non-GAAP ratios or other financial measures. See p.21 for more details. 4. IFC’s ROE corresponds to an adjusted return on equity (AROE), which is more comparable to the industry. The 2025 estimated outperformance reflects Q3-2025 industry YTD data, our final 2025 outperformance results will be available in the Q2-2026 MD&A. 5. Measured by Ipsos 6. As at the end of 2024. Progress on emissions reductions up to 2025 will be reported in our 2025 Social Impact and ESG Report. 7. Includes common shares, preferred shares and corporate bond portfolio. We are committed to implementing thoughtful strategies to reduce our GHG emissions. It is our intention to pursue net zero emissions across our business, in alignment with the principles of the Paris Agreement. Many factors and assumptions, which are beyond our control, make it difficult to predict future progress. We intend to advance our capacity to pursue net zero across our business, as we transition to a low emissions and climate resilient economy, and we expect that our commitments, and the policies, guidelines & practices that will help us achieve them, will evolve. CAPITALSTRATEGY
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6 Strategic roadmap: How we intend to achieve our objectives Transform our competitive advantages & solidify outperformance Invest in our people Expand our leadership position in Canada Build a Specialty Lines leader Outperform industry combined ratio by 5 pts Low 90s combined ratio Sub-90s combined ratio10% NOIPS GROWTH ANNUALLY OVER TIME Leading customer experience 3 out of 4 customers digitally engaged Scale in distribution Further consolidation in Canada Global leader in leveraging data and AI for pricing and risk selection OUTPERFORMANCE 500 bps ANNUAL ROE Specialized Customer value proposition Expand distribution Profitable & growing mix of verticals Consolidate fragmented market Enable our people to thrive Be a destination for top talent & expertsBe a best employer Invest in our community Leverage our strengths to win on climate Build resilient communities Deep Claims expertise & strong supply chain network Strong capital & investment management expertise Strengthen our leading position in UK & Ireland Leading broker & customer experience Expand broker distribution Optimize underwriting & claims for outperformance Responsive and agile technology & operations CAPITALSTRATEGY
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7 Strong track record of growth and outperformance ROE 1,2 outperformance 11.0% 13.0% 11.8% 11.4% 15.0% 21.0% 19.5% 11.7% 16.8% 21.0% 580 bps 690 bps 830 bps 530 bps 650 bps 710 bps 1210 bps 250 bps 520 bps 750 bps -2500 bps-2490 bps-2480 bps-2470 bps-2460 bps-2450 bps-2440 bps-2430 bps-2420 bps-2410 bps-2400 bps-2390 bps-2380 bps-2370 bps-2360 bps-2350 bps-2340 bps-2330 bps-2320 bps-2310 bps-2300 bps-2290 bps-2280 bps-2270 bps-2260 bps-2250 bps-2240 bps-2230 bps-2220 bps-2210 bps-2200 bps-2190 bps-2180 bps-2170 bps-2160 bps-2150 bps-2140 bps-2130 bps-2120 bps-2110 bps-2100 bps-2090 bps-2080 bps-2070 bps-2060 bps-2050 bps-2040 bps-2030 bps-2020 bps-2010 bps-2000 bps-1990 bps-1980 bps-1970 bps-1960 bps-1950 bps-1940 bps-1930 bps-1920 bps-1910 bps-1900 bps-1890 bps-1880 bps-1870 bps-1860 bps-1850 bps-1840 bps-1830 bps-1820 bps-1810 bps-1800 bps-1790 bps-1780 bps-1770 bps-1760 bps-1750 bps-1740 bps-1730 bps-1720 bps-1710 bps-1700 bps-1690 bps-1680 bps-1670 bps-1660 bps-1650 bps-1640 bps-1630 bps-1620 bps-1610 bps-1600 bps-1590 bps-1580 bps-1570 bps-1560 bps-1550 bps-1540 bps-1530 bps-1520 bps-1510 bps-1500 bps-1490 bps-1480 bps-1470 bps-1460 bps-1450 bps-1440 bps-1430 bps-1420 bps-1410 bps-1400 bps-1390 bps-1380 bps-1370 bps-1360 bps-1350 bps-1340 bps-1330 bps-1320 bps-1310 bps-1300 bps-1290 bps-1280 bps-1270 bps-1260 bps-1250 bps-1240 bps-1230 bps-1220 bps-1210 bps-1200 bps-1190 bps-1180 bps-1170 bps-1160 bps-1150 bps-1140 bps-1130 bps-1120 bps-1110 bps-1100 bps-1090 bps-1080 bps-1070 bps-1060 bps-1050 bps-1040 bps-1030 bps-1020 bps-1010 bps-1000 bps-990 bps-980 bps-970 bps-960 bps-950 bps-940 bps-930 bps-920 bps-910 bps-900 bps-890 bps-880 bps-870 bps-860 bps-850 bps-840 bps-830 bps-820 bps-810 bps-800 bps-790 bps-780 bps-770 bps-760 bps-750 bps-740 bps-730 bps-720 bps-710 bps-700 bps-690 bps-680 bps-670 bps-660 bps-650 bps-640 bps-630 bps-620 bps-610 bps-600 bps-590 bps-580 bps-570 bps-560 bps-550 bps-540 bps-530 bps-520 bps-510 bps-500 bps-490 bps-480 bps-470 bps-460 bps-450 bps-440 bps-430 bps-420 bps-410 bps-400 bps-390 bps-380 bps-370 bps-360 bps-350 bps-340 bps-330 bps-320 bps-310 bps-300 bps-290 bps-280 bps-270 bps-260 bps-250 bps-240 bps-230 bps-220 bps-210 bps-200 bps-190 bps-180 bps-170 bps-160 bps-150 bps-140 bps-130 bps-120 bps-110 bps-100 bps-90 bps-80 bps-70 bps-60 bps-50 bps-40 bps-30 bps-20 bps-10 bps0 bps10 bps20 bps30 bps40 bps50 bps60 bps70 bps80 bps90 bps100 bps110 bps120 bps130 bps140 bps150 bps160 bps170 bps180 bps190 bps200 bps210 bps220 bps230 bps240 bps250 bps260 bps270 bps280 bps290 bps300 bps310 bps320 bps330 bps340 bps350 bps360 bps370 bps380 bps390 bps400 bps410 bps420 bps430 bps440 bps450 bps460 bps470 bps480 bps490 bps500 bps510 bps520 bps530 bps540 bps550 bps560 bps570 bps580 bps590 bps600 bps610 bps620 bps630 bps640 bps650 bps660 bps670 bps680 bps690 bps700 bps710 bps720 bps730 bps740 bps750 bps760 bps770 bps780 bps790 bps800 bps810 bps820 bps830 bps840 bps850 bps860 bps870 bps880 bps890 bps900 bps910 bps920 bps930 bps940 bps950 bps960 bps970 bps980 bps990 bps1000 bps1010 bps1020 bps1030 bps1040 bps1050 bps1060 bps1070 bps1080 bps1090 bps1100 bps1110 bps1120 bps1130 bps1140 bps1150 bps1160 bps1170 bps1180 bps1190 bps1200 bps1210 bps1220 bps1230 bps1240 bps1250 bps1260 bps1270 bps1280 bps1290 bps1300 bps1310 bps1320 bps1330 bps1340 bps1350 bps1360 bps1370 bps1380 bps1390 bps1400 bps1410 bps1420 bps1430 bps1440 bps1450 bps1460 bps1470 bps1480 bps1490 bps1500 bps 2.5% 7.5% 12.5% 17.5% 22.5% 27.5% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Est ROE Outperformance 2 670 bps 10-year average ROE outperformance 1. These are Non-GAAP financial measures, Non-GAAP ratios or other financial measures. See p.21 for more details. 2. IFC’s ROE corresponds to an adjusted return on equity (AROE), which is more comparable to the industry. The 2025 estimated ou tperformance reflects Q3-2025 industry YTD data, our final 2025 outperformance results will be available in the Q2 -2026 MD&A. 3. NOIPS prior to 2022 are presented under IFRS 4. 2022 to 2025 NOIPS are presented under IFRS 17. 4. Compares the total cumulative return of $100 invested in Common Shares of the Company with the total cumulative return of the S&P/TSX, assuming the reinvestment of dividends. >9pts average contribution from Investment & Distribution income Our company is one of the MOST RESPECTED +18% 3-year NOIPS CAGR +14% 5-year NOIPS CAGR +19% 7-year NOIPS CAGR Net operating income per share 1,3 $5.67 $19.21 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Dividend growth +10% Dividend 10-year CAGR 21st consecutive annual increases since our IPO in 2004 Total Shareholder Return4 +15% IFC 10-year annualized TSR Outpacing the TSX 60 by 220 bps per year over the last decade Exceed industry ROE by 500 bps Grow NOIPS 10% annually over time CAPITALSTRATEGY Our objective Our objective Our track record Our track record
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8 How we delivered on our financial objectives Organic premium growth Operating margin expansion Strategic capital deployment Annualized NOIPS growth ROE outperformance Deep Claims expertise & strong supply chain network Pricing & risk selection, leveraging leading data and AI capabilities Strong capital & investment management 12% 260 bps 670 bps 10% NOIPS GR OW TH O V E R T I M E A N N U A L L Y 500bps ROE OUTPERFORMANCE ANNUAL 4% 4% 4% 410 bps Historical contribution last 10 years1 Historical contribution last 10 years2 1. From 2016 to 2025. 2. Remains an estimated split. The 2025 estimated outperformance reflects Q3 -2025 industry YTD data. Our final 2025 outperformance results will be available in our Q2-2026 MD&A. CAPITALSTRATEGY
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Canada: Expanding our leadership position Leading customer experience & digital engagement Digital Engagement 4 out of 5 customers in Canada have a digital account Brand leadership & product offering Intact Insurance and belairdirect are 2 of the top 4 insurance brands in Canada Superior claims service 38 Claims Service Centres 850 Rely Auto partners 46 On Side branches Omnichannel experience Driving efficiency & providing choice at every step of the customer journey 9 Our ambition: $25 billion in DPW by 2030 (2025: $17B) with 5 points of combined ratio outperformance $200MM+ REVENUES 2019 $2.0B DPW 2011 $350MM DPW 2012 $568MM DPW 2019 $143MM DPW 2015 $8.3B DPW 2021 ~20% AVERAGE INTERNAL RATE OF RETURN3 +$6.2B DPW ADDED IN CANADA THROUGH M&A Proven market consolidator INTERNAL RATE OF RETURN5 A clear scale advantage in the Canadian market IFC3 18% 9% 9% 6% 6% 2.5x THE AVERAGE SIZE OF THE NEXT 4 PLAYERS CANADIAN P&C MARKET ~$89B4 - TOP 20 - 82% MARKET SHARE Foreign Owned 32% IFC 18% Others 16% Bank Owned 15% Canadian Mutual 9% Private 10% 1. Presented as at December 2024. FY 2025 outperformance results will be available in Q1 -2026. 2. These are Non-GAAP financial measures, Non-GAAP ratios or other financial measures. See P.21 for more details. 3. Industry data: pro forma including RSA, IFC estimates based on MSA Research Inc. as of December 31, 2024. 2025 update will be available in Q1-2026. 4. MSA 2024 excluding Lloyds, government owned corporations, mortgage insurance. 5. Average M&A Internal Rate of Return since 2011. Our track record of outperformance vs the industry CAPITALSTRATEGY IFC Canada: 8.0% Industry: 6.6% 4.7 pts 10-year DPW growth CAGR1,2 10-year combined ratio outperformance1,2 Outperformance vs. industry (pts) IFC C/R 92% 95% 94% 95% 96% 88% 87% 90% 95% 93% 88% -2 3 8 13 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q3 YTD 5 largest players in Canadian market Approx. ~15x THE SIZE OF AVERAGE CANADIAN PLAYER
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Avoid putting content on the brand signature area Brand Colours Background Colours Other Colours R 10 G 133 B 67 R 229 G 248 B 236 R 233 G 104 B 18 R 255 G 252 B 208 R 6 G 116 B 122 R 230 G 245 B 246 Text Colours Page 10 GSL: Building a global specialty solutions leader Specialized customer value propositionExpand distribution footprint Global Specialty market is a $500B+ growth opportunity Profitable and growing mix of verticals GSL holds 1% in Market Share1 No one player has over 10% of the market Our ambition: $10B in DPW in 2030 (2025: $6.7B) while maintaining a sub-90’s combined ratio Tailored niche products Complex risks Targeted industries Low frequency, high severity Industry-specific underwriting experts Industry-specific claim experts Industry-specific risk control experts Actuarial expertise in pricing and risk selection Capitalize on growing US MGA market Deepen existing broker relationships Strong value proposition based on partnership, service & expertise CAPITALSTRATEGY 1. 2024 industry data. 2025 update will be available in Q1-2026. $0.6 $2.2 $2.9 $4.9 $6.7 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Almost $7B in annual DPW Running at a sustainable sub-90s combined ratio 89% 95% 93% 94% 94% 89% 86% 89% 86% 85% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
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Avoid putting content on the brand signature area Brand Colours Background Colours Other Colours R 10 G 133 B 67 R 229 G 248 B 236 R 233 G 104 B 18 R 255 G 252 B 208 R 6 G 116 B 122 R 230 G 245 B 246 Text Colours Page 11 UK&I: Strengthening our leading position in commercial lines Evolving towards a 90% combined ratio Our ambition: double DPW to £5B in 2030 (2025: £2.6B) and evolve CR towards 90% DPW Breakdown1 : 76% UK, 13% Ireland, 11% Europe Building on our competitive advantages One Commercial program Enhanced broker value proposition Sales & distribution Faster response Process optimization Increase visibility Effective trading Broker relationships Regional focus Leading broker & customer experience Access to ~£145B of DPW across 4 markets UK Commercial Lines £25B+ Our share 6% UK Specialty Lines £60B+ Our share 1% Ireland PL, CL and SL £4B+ Our share 9% Europe Specialty Lines £55B+ Our share <1% 96.5% 93.8% Mid-90s RSA pre-acquisition 2024-2025 UK Market 2 4 1. As of December 31, 2025. These are Non-GAAP financial measures, Non-GAAP ratios or other financial measures. See P.21 for more details. 2. Based on a 3-year average from 2018 to 2020; including businesses that have been subsequently exited including UK Personal lines and Middle East. 3. Average of full year 2024 and 2025 combined ratios. Incorporates underwriting activities in the UK, Ireland and Europe, predominantly in Commercial lines (including Specialty lines). 4. Based on a 4-year average of the listed peers used in the UK P&C benchmark from 2021 to 2024. Leveraging pricing and risk selection Optimizing claims Responsive and agile technology & operations CAPITALSTRATEGY 3
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12 Leveraging our scale to create a sustainable competitive advantage Data primarily as of December 31, 2025 CAPITALSTRATEGY 3,000+ adjusters 350+ appraisers 600+ lawyers & legal professionals 100+ accountants, engineers & content evaluators Auto Service Centres Rely Auto partners On Side Restoration branches~850~40 ~45Supply chain advantages Deep claims expertise Internalization of claims reduces cycle time, lowers costs, and allows for a better customer experience Global Leadership in Data & AI to drive $500MM+ in recurring benefits by 2030 Pricing sophistication and risk selection Data & AI specialists600+ Advanced proprietary models Recurring benefits$200MM500+
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$20.5B Capital deployed Last 10 years Strategic capital management has contributed to earnings growth 13 Strong capital generation in the past decade Dividends: $6B Organic growth: $2B Buybacks: $0.5B With over 65% deployed on acquisitions Distribution M&A: $2B $12B deployed on M&A ~20% average IRR Manufacturing M&A: $10B $7B Financing through capital markets $15B Capital generated from operations - $0.5B $1.0B $1.5B $2.0B $2.5B $3.0B $3.5B $4.0B 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Net operating income Capital generated Manage volatility Maintain leverage Increase dividends Invest in growth Share buybacksCapital deployment strategy 1. These are Non-GAAP financial measures, Non-GAAP ratios or other financial measures. See P.21 for more details. 1 CAPITALSTRATEGY
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$424 MM $1,632 MM 2015 2025 ▪ 82% of debt securities rated ‘A-’ or better ▪ Average duration of debt securities of 3.1 years ▪ Weighted-average rating of preferred shares portfolio of ‘P2’ NOIPS & ROE strengthened by disciplined investment management High-quality investment portfolio1 1. As of December 31, 2025. See Section 9– Investment performance of the Q4-2025 MD&A for more details 2. Net of financial liabilities related to investments and hedging positions 14 Investment Income 120 bps Contribution to 10-yr ROE outperformance Debt securities 77% Common equity strategies 9% Cash and cash equivalents 6% Preferred shares 4% Investment property & Loans 4% $43B Conservatively managed1,2 ~50% Contribution to 10-yr NOIPS Manage volatility Maintain leverage Increase dividends Invest in growth Share buybacksCapital deployment strategy Stable and compounding investment income CAPITALSTRATEGY 14% 10-yr CAGR
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Maintaining a strong financial position Data as of December 31, 2025 15 Manage volatility Maintain leverage Increase dividends Invest in growth Share buybacksCapital deployment strategy 1. These are Non-GAAP financial measures, Non-GAAP ratios or other financial measures. See P.21 for more details. Credit ratings Financial strength ratings Senior unsecured debt ratings A.M. Best DBRS Moody’s Fitch A+ AA Aa3 AA- a- A (high) A3 A- A.M. Best DBRS Moody’s Fitch Total capital margin1 Provides increased flexibility to financing options $3.7B Debt-to-capital ratio1 below our long-term leverage target of 20% 16.5% Book value per share1 year-over-year to $107.35 +16% We are well capitalized across all our regulated entities Well diversified maturity schedule of senior debt bonds and other instruments We take a balanced approach to managing our book value currency exposure through foreign currency hedging CAPITALSTRATEGY
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Consistent yearly dividend increases since IPO in 2004 16 Manage volatility Maintain leverage Increase dividends Invest in growth Share buybacksCapital deployment strategy 1. Current annualized dividend for 2026. $0.65 $1.08 $1.28 $1.48 $1.76 $2.12 $2.56 $3.04 $3.40 $4.00 $4.40 $4.84 $5.32 $5.88 2005 2008 2011 2014 2017 2020 2023 2026 Our 21st consecutive dividend increase since our IPO Key figures 1 CAPITALSTRATEGY +11% CAGR since IPO +10% CAGR since 2015 $7.6B Dividends paid since IPO $6.1B Dividends paid since 2015
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$104 MM $546 MM 2015 2025 Driving growth through strategic distribution income 18% 10-yr CAGR Distribution Income1 Distribution income over the last 10 years 17 Distribution Financial Strategies BrokerLink $5.1B of annual DPW1,2,3 Expanding MGA platform supports growth in Specialty lines Distribution Financial Strategies $3B of annual Intact premiums1,2 $10B in DPW1 from Canada’s P&C broker channel is sold through IFC’s Distribution network3 Providing repair and restoration services for claims across Canada Diversified distribution portfolio Manage volatility Maintain leverage Increase dividends Invest in growth Share buybacksCapital deployment strategy $54B Canadian P&C broker channel ~$2B capital deployed in the last 10 years with a 15%+ IRR 1. These are Non-GAAP financial measures, Non-GAAP ratios or other financial measures. See P.21 for more details. 2. As of December 31, 2025. 3. Reflects DPWs that are impacted by our Broker channel, not all Intact premiums. CAPITALSTRATEGY
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18 Established M&A track record 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Most significant acquisitions $4.3B DPW $4.5B Market cap $51B Market cap $25B DPW CANADA $10B Deployed in the last 10 years ~20% Average IRR Manage volatility Maintain leverage Increase dividends Invest in growth Share buybacksCapital deployment strategy CAPITALSTRATEGY Brokered Commercial Lines business
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Flexibility for share buybacks 19 Manage volatility Increase dividends Invest in growth Share buybacksCapital deployment strategy 2025 Share Buybacks CAPITALSTRATEGY Common shares repurchased and cancelled 732,339 Average share price for buybacks $271 10-year history Common shares repurchased and cancelled 2.2MM Average share price for buybacks $192 Maintain leverage The renewal of our normal course issuer bid program (NCIB) to repurchase for cancellation up to 3% of the Company’s issued and outstanding common shares over the subsequent 12- month period has been approved by our Board and the TSX. This renewal commences February 17, 2026.
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Avoid putting content on the brand signature area Brand Colours Background Colours Other Colours R 10 G 133 B 67 R 229 G 248 B 236 R 233 G 104 B 18 R 255 G 252 B 208 R 6 G 116 B 122 R 230 G 245 B 246 Text Colours Page 20 Page 20 Appendix 20 20
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$1,559M $1,632M 2024 2025 OROE1 19.5% EPS3 $18.35 +48% Operating DPW1 (constant currency) $25.1B +4% Total Capital Margin1 $3.7B BVPS1 $107.35 +16% y-o-y ROE1 18.4% 2025 financial highlights Combined ratio1,2 88.2% (4.0) pts AROE1 21.0% 1. These measures are Non-GAAP measures, Non-GAAP ratios and supplementary measures. See page 21 for more details. 2. Presented on an undiscounted basis. 3. Presented on a diluted basis. (over the last 12 months) NOIPS1,3 $19.21 +33% 21 56.9% 56.7% 2024 2025 (0.2) pts 7.1% 3.7% 2024 2025 CAT Loss ratio1,2 CAY Loss ratio1,2 (3.4) pts Operating net investment income +5% Distribution income1 +4% Combined ratio1,2 by segment Canada 86.8% US 85.1% UK&I 94.8% $524M $546M 2024 2025
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22 We use both Generally Accepted Accounting Principles (GAAP) financial measures (“reported measures”), as well as Non-GAAP financial measures and Non-GAAP ratios (each as defined in National Instrument 52-112 “Non-GAAP and Other Financial Measures Disclosure”) to assess our performance. Non-GAAP financial measures and Non-GAAP ratios (which are calculated using Non-GAAP financial measures) and other financial measures do not have standardized meanings prescribed by IFRS and may not be comparable to similar measures used by other companies in our industry. The principal Non-GAAP financial measures and other financial measures included in this presentation and other financial reports are: operating net underwriting revenue, operating net claims (including current year claims (excl. catastrophes and PYD), operating net underwriting expenses (including commissions, general expenses, and premium taxes), underwriting income (loss), distribution income, total finance costs, other operating income (expense), operating and total income tax (expense) benefit, PTOI, NOI attributable to shareholders, NOI attributable to common shareholders, pre-tax income, non-operating results, adjusted net income attributable to common shareholders, adjusted average common shareholder’s equity, adjusted average common shareholder’s equity (excluding AOCI), adjusted total capital, debt outstanding and preferred shares. The Non-GAAP ratios included in the presentation and other financial reports (other than the condensed Consolidated financial statements) are: operating net underwriting revenue growth, operating net underwriting revenue growth in constant currency, combined ratio, claims ratio (including underlying current year loss ratio, CAT loss ratio and PYD ratio), expense ratio (including commissions ratio, general expenses ratio and premium taxes ratio), operating and total effective income tax rates, NOIPS, AEPS, ROE, OROE, AROE, adjusted debt-to-total capital ratio, total leverage ratio and preferred shares & hybrids ratio. The following are other supplementary financial measures included in the presentation and other financial report: operating DPW, operating DPW growth, operating DPW growth in constant currency,, total capital margin, our regulatory capital ratios, BVPS and BVPS (excluding AOCI). We believe that similar measures and ratios are widely used in the industry and provide investors, financial analysts, rating agencies and other stakeholders with a better understanding of our business activity and financial results over time, in line with how management analyzes performance. Non-GAAP and other financial measures used by management are fully defined and reconciled to the corresponding GAAP measures, where applicable. We also use other financial measures to assess our performance, including supplementary financial measures and segment measures, which are further presented in the MD&A. See Section 28 – Non-GAAP and other financial measures of the Q4-2025 MD&A for the definition and reconciliation to the most comparable GAAP measures (or “reported measures”), as well as the rationale for use. Important notes: ▪ Abbreviations and definitions of selected key terms used in this presentation are defined in Section 32 – Glossary and definitions of the Q4-2025 MD&A. ▪ Other insurance-related terms are defined in Section 32 – Glossary and definitions of the Q4-2025 MD&A, as well as in the glossary available in the “Investors” section of our web site at www.intactfc.com. ▪ Certain totals, subtotals and percentages may not agree due to rounding. Not meaningful (nm) is used to indicate that the current and prior year figures are not comparable, not meaningful, or if the percentage change exceeds 1,000%. Non-GAAP and Other Financial Measures
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Investor Relations Geoff Kwan Deputy Senior Vice President, Finance and Chief Investor Relations Officer 1 866 440-8300 ext. 20022 ir@intact.net Media Inquiries Caroline Audet Manager, Media Relations and Public Affairs (416) 227-7905 / (514) 985-7165 media@intact.net Contact us Investor Inquiries Intact Financial Corporation 700 University Avenue Toronto, ON M5G 0A1 ir@intact.net www.intactfc.com 23