Slides
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Intact Financial Corporation (TSX: IFC) Q2-2026 Earnings call slides July 29, 2026
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2 Forward-looking statements Certain of the statements included 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 of our presentation are made as at June 30, 2026, and are subject to change after that date. This presentation contains forward-looking statements with respect to the exit of Royal & Sun Alliance Insurance Limited from the UK Personal lines market, the realization of the expected strategic, financial and other benefits of this transaction and 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 exit of Royal & Sun Alliance Insurance Limited from the UK Personal lines market, 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 – Top, Emerging and Transversal Risk s and 26.3 Other risks that may affect future results of our MD&A 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 and the quarterly earnings press release dated July 28, 2026 . are qualified by these cautionary statements and those made in the section entitled Risk management ( Section 24 to Section 27) of our MD&A for the year ended December 31, 2025 which is also 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.
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3 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. Non-GAAP and Other Financial Measures 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, 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 Non-GAAP financial measures included in the presentation and other financial reports are operating net underwriting revenue, operating net claims (including current year claims (excl. catastrophes and PYD), current year CAT losses, prior year claims development (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 benefit (expense), PTOI, NOI attributable to shareholders, NOI attributable to common shareholders, pre-tax income, non-operating results, adjusted net income attributable to shareholders, adjusted net income attributable to common shareholders, adjusted average common shareholders’ equity, adjusted average common shareholders’ equity (excluding AOCI), adjusted total capital, debt outstanding and preferred shares. The Non-GAAP ratios included in the presentation and other financial reports are operating net underwriting revenue, operating net claims (including current year claims (excl. catastrophes and PYD), current year CAT losses, prior year claims development (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 benefit (expense), PTOI, NOI attributable to shareholders, NOI attributable to common shareholders, pre-tax income, non-operating results, adjusted net income attributable to shareholders, adjusted net income attributable to common shareholders, adjusted average common shareholders’ equity, adjusted average common shareholders’ equity (excluding AOCI), adjusted total capital, debt outstanding and preferred shares. 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, 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 presentation. See Section 16 – Non-GAAP and other financial measures of the Q2-2026 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 20 – Glossary and definitions of the Q2-2026 MD&A. § Other insurance-related terms are defined in Section 20 – Glossary and definitions of the Q2-2026 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%. Disclaimer
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4 Charles Brindamour Chief Executive Officer Q2-2026 Earnings call slides
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5 both increasing roughly 3 points from last year, primarily due to solid operating performance as well as higher mark-to-market gains on equity securities. included 4 points of excess catastrophe and large losses, with otherwise solid underlying performance. reflected solid contributions from distribution and investment income, as well as non-operating gains. 1These are supplementary and non-GAAP measures. See Section 16 – Non-GAAP and other financial measures of the Q2-2026 MD&A, available on www.sedarplus.ca. 2 Presented on a diluted basis. See Section 16 – Non-GAAP and other financial measures of the Q2-2026 MD&A, available on www.sedarplus.ca. 3 Growth in constant currency. increased almost 1 point year-over- year, reflecting the resilience of our underwriting platform and continued focus on profitable growth. 17.0% OROE 1 19.3% AROE 1 17.2% ROE 1 Q2-2026 Earnings call slides Q2-2026 key points & highlights $3.17 included a $1.08 impact from elevated catastrophe and large losses, above our expectations. +4% increased 13%, marking the 9th quarter in a row of double-digit growth, driven by solid operating earnings and favourable market movements. $111.73 $3.90 $3.8B NOIPS 1,2 Operating DPW growth 1,3 BVPS 1 EPS 2 Total Capital Margin 1 Combined Ratio 194.9% mostly attributable to continued hard market conditions in Personal lines. remained strong; solid capital generation was offset by capital deployment activities, including dividend distributions and share buybacks.
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6 Q2-2026 Canadian results 1 These are supplementary and non-GAAP measures. See Section 16 – Non-GAAP and other financial measures of the Q2-2026 MD&A, available on www.sedarplus.ca. 2 12-month industry outlook. For more details, please see Section 10 – Industry outlook for P&C insurance of the Q2-2026 MD&A, available on www.sedarplus.ca. Q2-2026 Earnings call slides PERSONAL AUTO PERSONAL PROPERTY COMMERCIAL LINES Operating DPW growth1 Combined ratio1 Industry premium growth outlook2 Combined ratio guidance including unit growth of 1% in hard market conditions +9% including unit growth of 1% in hard market conditions +7% +1% 103.0% was impacted by 11 points of catastrophe and large losses above expectations 85.7% 88.8% driven by our continued underwriting discipline Industry growth in the high-single-digits Industry growth of approximately 10% Industry growth in the low to mid-single- digits Sub-95% combined ratio Sub-95% combined ratio, even with severe weather Low-90s or better combined ratio as positive momentum from our growth initiatives was tempered by continued competition in large accounts strong, despite increasing from last year’s low levels, due to elevated large losses and lower favourable PYD
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7 Industry premium growth outlook2 Operating DPW growth (constant currency)1 1 These are supplementary and non-GAAP measures. See Section 16 – Non-GAAP and other financial measures of the Q2-2026 MD&A, available on www.sedarplus.ca. 2 12-month industry outlook. For more details, please see Section 10 – Industry outlook for P&C insurance of the Q2-2026 MD&A, available on www.sedarplus.ca. Combined ratio1 UK&I US Combined ratio guidance Q2-2026 Earnings call slides (1%) driven by solid new business, somewhat tempered by elevated competition in specific business lines. +4% 85.0% improved almost 3 points year-over-year, reflecting the benefits of our disciplined underwriting and improved pricing sophistication. 112.0% Industry growth in the low to mid single- digits Industry growth in the mid-single-digits Combined ratio evolving towards 90% Low-90s or better combined ratio Q2-2026 UK&I and US results as solid new business and retention were more than offset by the impacts of combining RSA and DLG portfolios under one brand. included a 15-point impact from catastrophe and large losses above expectations.
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8 Invest in our people and our community Expand leadership position in Canada 10%NOIPS GROWTH ANNUALLY OVER TIME 500 bps ANNUAL ROE OUTPERFORMANCE We are actively driving progress towards climate resilience in the UK. In partnership with the University of Hull, we published 'A Blueprint for Innovation in Property Flood Resilience', delivering actionable frameworks for businesses to adopt physical flood defenses. Transform our competitive advantages & solidify outperformance We are scaling our global data and AI advantage to further widen our pricing outperformance. We deployed our Global AI Platform in the UK to accelerate the expansion of our machine learning pricing models rollout, while in Canada, we continue to deepen the integration of usage- based insurance into our pricing models. IFC’s vertically integrated claims supply chain proved to be a differentiator during the recent Alberta CAT events, with On Side Restoration managing approximately 80% of our impacted Property claims. This internal capacity translated directly into faster cycle times and exceptional customer service during peak demand. Strengthen our leading position in UK & Ireland Build a Global Specialty Lines Leader Our Canadian customer-facing and distribution operations have been unified under Marie-Lucie Paradis, newly appointed as EVP & President, Customer Service & Distribution, creating a unified distribution architecture, that will enhance customer experience. Q2-2026 Earnings call slides Progress on our Strategic Roadmap in Q2-2026 The ‘Keep it Intact’ prevention ecosystem is driving proactive risk mitigation, with customer prevention actions exceeding 140,000 since Home Helper was launched, contributing to a 24% year-over-year increase in Jiffy prevention revenue. We continue to scale customer-facing digital channels, with 1/3 of reported claims opened digitally during recent CATs and 1/3 of billing transactions completed online. Intact Insurance Specialty Solutions expanded its multinational capabilities with the launch of Foreign Package, a standalone policy targeting US-domiciled technology and life sciences clients. Rory Meleniclis was appointed as Chief Information Officer to strengthen GSL’s leadership and lead its technology evolution which is a critical enabler of our ambition to scale GSL to $10 billion in DPW by 2030. We advanced our UK digital distribution strategy with the launch of our new broker eTrade portal, consolidating 15 products into a single interface and ensuring a faster, simpler and more consistent trading experience. We’ve embedded risk mitigation into our value proposition by launching “Risk Assist” as a core policy for all UK Commercial lines policyholders, enabling brokers to assess customers’ operational vulnerabilities.
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9 Ken Anderson Chief Financial Officer Q2-2026 Earnings call slides
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10 1 These are supplementary and non-GAAP measures. Section 16 – Non-GAAP and other financial measures of the Q2-2026 MD&A, available on www.sedarplus.ca. CAT loss ratio of 7.0% was 1 point above expectations and 5 points higher than last year, driven by storms in Canada and commercial fires in the UK&I. Expense ratios of 34.9% increased year-over-year, due to higher general expenses in Canada and UK&I, as well as a non-recurring premium tax item in Canada Commercial lines in Q2-2026. Underlying current year loss ratio of 59.1% was solid after excluding a 3-point impact from elevated large losses. Favourable PYD ratio of 6.1% in the quarter was strong but decreased 1 point year-over-year, as continued prudent reserving practices led to healthy prior year development across the business. Combined ratio1 +8.8 pts y-o-y Underlying current year loss¹ Catastrophe losses¹ Prior-year development¹ Expenses¹ Q2-2026 Earnings call slides Solid results for Q2 2026 56.8% 59.1% 2.4% 7.0% (7.4)% (6.1)% 34.3% 34.9% Q2-2025 Q2-2026
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11 $784 $305 Q2-2025 Q2-2026 • Net operating income attributable to common shareholders of $561 million decreased 40% year-over-year, due to the impact from elevated catastrophe and large losses, above our expectations. • Underwriting income of $305 million reflected the impact from elevated catastrophe and large losses above expectations, with otherwise solid underlying performance. • Operating net investment income increased 1% to $405 million, reflecting higher assets year-over-year, despite decreases in floating rates. • Distribution income of $172 million increased year-over-year, as strong organic and inorganic growth was tempered by investments to support temporary service level demands, including those in connection with auto reforms. 1 These are supplementary and non-GAAP measures. See Section 16 – Non-GAAP and other financial measures of the Q2-2026 MD&A, available on www.sedarplus.ca. (40%) Net operating income attributable to common shareholders1 Underwriting income1 Operating net investment income Distribution income1 (61%) +1% +4% in C$ millions in C$ millions in C$ millionsin C$ millions Q2-2026 Earnings call slides Solid operating results $165 $172 Q2-2025 Q2-2026 $400 $405 Q2-2025 Q2-2026 $935 $561 Q2-2025 Q2-2026
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12 1 These are supplementary and non-GAAP measures. See Section 16 – Non-GAAP and other financial measures of the Q2-2026 MD&A, available on www.sedarplus.ca. 2 As of June 30, 2026 remained strong with solid capital generation supporting capital deployment activities, including dividend distributions and share buybacks $3.8B Total capital margin1,2 driven by growth in shareholders’ equity, from continued profitability 16.2% Adjusted debt-to-total capital ratio1,2 Capital position Capital Structure Credit ratings2 AM Best reaffirmed our financial strength rating of A+ with stable outlook. increased 13% year-over-year, driven by solid operating earnings and favourable market movements, despite elevated catastrophe and large losses $111.73 Book value per share1,2 Equity Normal course issuer bid Q2-2026 Earnings call slides Balance sheet strength continues In Q2 we repurchased 687,172 common shares for total consideration of $181 million. Subsequent to quarter-end, we repurchased an additional 91,100 common shares for $27 million A. M. Best DBRS Moody’s Fitch Financial strength ratings A+ AA Aa3 AA- Senior unsecured debt ratings a- A (high) A3 A-
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13 Q&A Q&A
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14 After importing your image (insertion / image) you can make it fit inside the frame by right clicking and using the crop tool Investor Relations Geoff Kwan Deputy SVP, 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 Investor Inquiries Intact Financial Corporation 700 University Avenue Toronto, ON M5G 0A1 ir@intact.net www.intactfc.com Contact us