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June 2026 Results Presentation for analysts and investors 27 July 2026
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This document has been prepared by Línea Directa Aseguradora, S.A., Compañía de Seguros y Reaseguros (“Línea Directa” or the “Company”) for the sole purpose of presenting results and may not be used for any other purpose. The statements contained in this document relating to forecasts, plans, expectations or the future performance of the Company, its businesses or their financial figures do not constitute commitments or any assurance as to the future performance of the Company or the effective achievement of its objectives or estimated results. These statements rely on assumptions and estimates that are conditional on multiple factors, thus exposing them to various risks and uncertainties that could cause the actual results to differ materially from the objectives, projections and expectations expressed or implied in this presentation. Possible factors that might introduce an element of uncertainty to the estimates include: changes within the insurance industry, in market trends or in the general economic climate; legal reforms; court rulings; technological changes; changes in monetary policy or interest rates; the performance of our peers and competitors; changes in the claims that are covered; fluctuations in liquidity levels, or in the value of or return on the assets that make up the investment portfolio of Línea Directa; changes in the credit capacity and solvency of customers, etc. Línea Directa is under no obligation to regularly review or update the information contained in this document, nor to adapt that information in response to events or circumstances that occur after this presentation has been published. Some of the figures included in this document have been rounded off. This could cause discrepancies between the total figures and itemised figures provided in the tables. This document does not constitute an offer or invitation to acquire or subscribe for shares, in accordance with applicable law and regulations on the securities market, nor does it constitute an offer to buy, sell or exchange securities, or a solicitation to offer, sell or exchange securities. Legal notice
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Contents 01. Key Highlights 02. June 2026 Results 03. Appendices
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01 Key Highlights
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Lines of Business Profitability COMBINED RATIO | 6M ‘26 91.1% RoAE | 6M ‘26 Solvency II Ratio2 -1.2 p.p. vs. 6M ‘25 GWP | 6M ‘26 609.3M € +9.2% vs. 6M ‘25 Portfolio 3.86M +7.8% vs. 6M ‘25 +277,919 risks 23.3% Net Profit | 6M ‘26 52.1M € +19.0% vs. 6M ’25 196.3% 01. Key Highlights PREMIUMS +9.8% vs. 6M ’25 490.8M€ POLICIES +8.5% 2.85M PREMIUMS +2.0% vs. 6M ’25 86.2M€ POLICIES +3.7% 788.3k PREMIUMS +17.7% vs. 6M ’25 29.0M€ RISKS1 +10.4% 128.2k PREMIUMS +57.5% vs. 6M ’25 3.3M€ POLICIES +19.9% 91.9k Growth, profitability and solvency: a solid first half 1. 1,7x risks underwritten per policy 2. The solvency margin already reflects the impact of the first interim dividend for the year , amounting to 18 million euros
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02 June 2026 Results
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Thousand euro 6M 2026 6M 2025 % var. 2Q 2026 Gross written premiums (GWP) 609,298 558,219 9.2% 306,069 Ordinary insurance activities income 1 577,128 518,858 11.2% 293,731 Technical insurance result, net of reinsurance 49,731 38,743 28.4% 26,803 Inve stme nts re sult 21,824 22,233 -1.8% 12,357 Credited interest 2 (3,419) (3,074) 11.2% (1,568) Insurance and financial result 68,136 57,902 17.7% 37,592 Other income/expenses and non-assignable expenses 184 236 -22.0% 9 Profit / (loss) before tax 68,320 58,138 17.5% 37,601 Income tax (16,225) (14,369) 12.9% (8,903) Profit / (loss) after tax 52,095 43,769 19.0% 28,698 6M 2026 6M 2025 p.p. var. 2Q 2026 Loss ratio 70.9% 71.1% -0.2 p.p 69.2% Expense ratio 20.2% 21.2% -1.0 p.p 21.4% Combined ratio 3 91.1% 92.3% -1.2 p.p 90.6% 1. Equivalent to the gross premium earned (before reinsurance) under IFRS4 2. The credited interest shows the impact of last year’s financial unwinding on the discounting of the provision for claims incurre d. It is presented separately from the investments result for ease of understanding 3. LIC discounted to the risk-free curve. The effect of discounting in the movement of the curve is accounted for in equity (+2.0 million euro as of June 2026) 7 IFRS17&9 02. June 2026 Results Broad-based growth: all lines of business contribute to premium growth, which increased by +9.2% Strong customer growth: +7.8% year-on-year Improved technical profitability: combined ratio of 91.1%, 1.2 p.p. better than 6M 2025 Discipline and operating efficiency: expense ratio of 20.2% with an improvement of 1.0 p.p. Profitable growth: the combination of higher volumes, technical improvement and efficiency drove a net profit 19% higher
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Thousand euro 6M 2026 6M 2025 % var. 2Q 2026 % var. YoY Motor 490,781 446,998 9.8% 254,640 9.1% Home 86,242 84,519 2.0% 42,759 1.5% Health 28,962 24,598 17.7% 7,557 11.7% Other1 3,313 2,104 57.5% 1,113 52.7% Total 609,298 558,219 9.2% 306,069 8.1% Gross Written Premiums Thousand 6M 2026 6M 2025 % var. 2Q 2026 Motor 2,848 2,626 8.5% 59 Home 788 760 3.7% 4 Health 128 116 10.4% 2 Other1 92 77 19.9% (4) Total 3,857 3,579 7.8% 60 Policyholders 1. The Other insurance businesses segment includes Pet insurance, Small Business, Personal Mobility insurance, Squatter protecti on insurance and Travel insurance for Bankinter cardholders under 8 group policies (not included in the policyholders' figures) Premiums Policyholders 3,857 thousand609.3M € 8 Premiums and policyholders by line of business 02. Premiums and Policyholders
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02. Combined Ratio IFRS17&9 -1.2 p.p. Growing scale and improved operating efficiency Underwriting discipline and claims frequency control
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02. Motor Segment COMBINED RATIO IFRS 17 INCOME GWP INSURANCE REVENUE (NET) IFRS 17 IFRS17&9 -0.9 p.p+9.8% Thousand euro +11.9% Motor exceeds 490M€ in premiums, with year-on-year growth of 9.8% Portfolio adds 222.174 policies and grows by 8.5% year- on-year Excellent technical profitability: combined ratio of 91.1% in 6M (- 0.9 p.p. year-on-year) and 90.8% in standalone Q2
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02. Home Segment COMBINED RATIO IFRS 17INCOME GWP IFRS17&9 INSURANCE REVENUE (NET) IFRS 17 +2.0% +4.9% -2.3 p.p Thousand euro Exceptional combined ratio: 86.6% in 6M, improving by 2.3 p.p. vs. 6M 2025 and 83.9 in standalone Q2 Home gains volume with +2.0% in premiums and 28,465 additional policies (+3.7%)
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02. Health Segment COMBINED RATIO IFRS 17INCOME IFRS17&9 INSURANCE REVENUE (NET) IFRS 17 GWP Thousand euro -8.6 p.p+17.7% +16.2% Health maintains traction: premiums +17.7% to 28.9M€ Portfolio grows to 128,196 policies (+10.4% YoY), supported by a stronger business mix, with comprehensive coverages accounting for 67.7% of total policies Combined ratio of 125.1%, with an improvement of 8.6 p.p. and gradual progress towards technical breakeven
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Thousand euro 6M 2026 6M 2025 % var. Income 20,711 19,135 8.2% Interest on bank deposits 300 451 -33.4% Interest on fixed income securities 13,861 11,871 16.8% Income on equity instruments 2,426 2,299 5.5% Other financial income 4,124 4,514 -8.7% Mark-to-Market (Equity mutual funds and derivatives) 2,041 1,978 3.2% Realised gains (losses) in P&L (1,127) (62) - Impairments (+/-) (132) (7) - Exchange rate and conversion differences (+/-) 238 (394) -160.4% F inancial investments result 21,730 20,650 5.2% Real estate investments result 94 1,583 -94.1% Net investments result 21,824 22,233 -1.8% Credited interest 1 (3,419) (3,074) -11.2% Insurance financial result 18,405 19,159 -3.9% IFRS17&9 02. Financial Result 13 Higher income from fixed-income and equity portfolios, the main driver of the increase in financial result By contrast, the contribution from real estate investments reflects the temporary impact of the renovation of a building. The works will conclude at the end of 2026 and the associated rent from the property will resume before June 2027 under the new terms2 Excluding this effect, the net investment result would have grown by 5.0% 1. The credited interest reflects the impact of the curve roll-forward or financial “unwinding” on the provision for incurred claims 2. Rental income from the building until July 2025 amounted to 242k€ per month
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(%) 6M 2026 6M 2025 var. p.p Fixed income 2.64% 2.81% -0.17 p.p Equity instruments 7.21% 5.29% +1.92 p.p Investment property 2.75% 7.31% -4.56 p.p Total average return 3.19% 3.39% -0.20 p.p Portfolio return (ex net realised gains) 2.75% 3.22% -0.47 p.p Reinves tment yield 2.54% 2.61% -0.07 p.p 6M 2026 6M 2025 var. Fixed income duration 3.53 4.09 -0.56 Fixed income modified duration 3.91% 4.37% -0.46 p.p. VaR 1.34% 1.60% -0.26 p.p. Thousand euro 6M 2026 6M 2025 % var. Movements registered in OCI 1,296 6,173 -79.0% MTM fixed income and equity instruments 4 4,745 -99.9% Realised gains (losses) in equity instruments 1,292 1,428 -9.5% PORTFOLIO COMPOSITION 1. Revenue recognised over the last 12 months divided by assets under management (fixed income and equity portfolios and investment property). Includes capital gains and losses realised and impairment losses. Thousand euro 14 IFRS17&9 02. Investment Portfolio, Movements Registered in OCI and Other Metrics PORTFOLIO RETURN (R12) AND OTHER METRICS1
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02. Solvency II 15 Solvency ratio 1. The solvency ratio and eligible own funds refer to Línea Directa Aseguradora individual entity Market: lower equity exposure offset by the increase in the symmetric adjustment (8.94% vs. 7.90% at year-end 2025) Non-Life, Health and Operational: in line with business growth Counterparty: higher volume of Health receivables and recoverables from reinsurance The evolution reflects: Robust capital generation recorded in the first half and the revaluation of the portfolio recognised in equity The impact of the first interim dividend for the year, amounting to 18M€ SOLVENCY II OWN FUNDS SOLVENCY CAPITAL REQUIREMENT (SCR) Thousand euro 12M 2025 6M 2026 SCR Market 124,322 125,604 SCR Counterparty 5,604 8,008 SCR Health 4,242 5,062 SCR Non-Life 228,181 237,289 BSCR 289,238 299,693 SCR Operational 32,351 34,104 Deferred tax adjustment (80,397) (83,449) SCR 241,191 250,347 Eligible own funds Solvency II 440,389 491,513 Solvency II ratio 182.6% 196.3%
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03 Appendices
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MOTOR Thousand euro 6M 2026 6M 2025 % var. Gross written premiums 490,781 446,998 9.8% Income from ordinary insurance activities, net of reinsurance 466,483 416,930 11.9% Claims for the period, net of reinsurance (340,028) (303,393) 12.1% Net operating expenses (84,933) (80,030) 6.1% Net technical res ult 41,523 33,507 23.9% 6M 2026 6M 2025 p.p. var. Loss ratio 72.9% 72.8% 0.1 p.p Expense ratio 18.2% 19.2% -1.0 p.p Combined ratio 1 91.1% 92.0% -0.9 p.p Clients (thousand) 2,848,443 2,626,269 222,174 1. LIC discounted to the risk-free curve. The financial effect of the curve's movement is accounted for in equity HOME Thousand euro 6M 2026 6M 2025 % var. Gross written premiums 86,242 84,519 2.0% Income from ordinary insurance activities, net of reinsurance 81,416 77,641 4.9% Claims for the period, net of reinsurance (47,454) (47,757) -0.6% Net operating expenses (23,073) (21,266) 8.5% Net technical res ult 10,888 8,618 26.3% 6M 2026 6M 2025 p.p. var. Loss ratio 58.3% 61.5% -3.2 p.p Expense ratio 28.3% 27.4% 0.9 p.p Combined ratio 1 86.6% 88.9% -2.3 p.p Clients (thousand) 788,332 759,867 28,465 1. LIC discounted to the risk-free curve. The financial effect of the curve's movement is accounted for in equity IFRS17&9 03. Income Statement by Line of Business
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HEALTH Thousand euro 6M 2026 6M 2025 % var. Gross written premiums 28,962 24,598 17.7% Income from ordinary insurance activities, net of reinsurance 11,249 9,681 16.2% Claims for the period, net of reinsurance (9,419) (8,098) 16.3% Net operating expenses (4,650) (4,847) -4.1% Net technical res ult (2,820) (3,264) -13.6% 6M 2026 6M 2025 p.p. var. Loss ratio 83.7% 83.6% 0.1 p.p Expense ratio 41.3% 50.1% -8.8 p.p Combined ratio 1 125.1% 133.7% -8.6 p.p Clients (thousand) 128,196 116,149 12,047 1. LIC discounted to the risk-free curve. The financial effect of the curve's movement is accounted for in equity OTHER INSURANCE BUSINESSES Thousand euro 6M 2026 6M 2025 % var. Gross written premiums 3,313 2,104 57.5% Income from ordinary insurance activities, net of reinsurance 1,975 1,113 77.4% Claims for the period, net of reinsurance (944) (133) 609.8% Net operating expenses (891) (1,098) -18.9% Net technical res ult 140 (118) -218.6% 6M 2026 6M 2025 p.p. var. Combined ratio 92.9% 110.6% -17.7 p.p Clients (thousand) 91,949 76,716 15,233 18 IFRS17&9 03. Income Statement by Line of Business 1. The Other insurance businesses segment includes Pet insurance, Small Business insurance, Personal Mobility insurance, Squatter p rotection insurance and Travel insurance for Bankinter cardholders under 8 group policies (not included in the policyholders' figures) 1
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Thousand euro ASSETS 6M 2026 12M 2025 % var. Cash and cash equivalents 23,884 16,988 40.6% Financial assets at fair value through P&L 55,745 60,066 -7.2% Equity instruments 55,745 60,066 -7.2% Financial assets at fair value through equity 1,137,698 1,075,297 5.8% Equity instruments 80,499 83,292 -3.4% Debt securities 1,057,199 992,005 6.6% Financial assets at amortised cost 13,725 10,979 25.0% Hedging derivatives - 5,062 -100.0% Reinsurance contract assets 37,028 29,151 27.0% Property, plant and equipment and investment property 108,835 103,414 5.2% Tangible fixed assets 42,338 42,471 -0.3% Investment property 66,497 60,943 9.1% Intangible assets 60,468 54,621 10.7% Other assets 29,571 19,122 54.6% Total assets 1,466,954 1,374,700 6.7% Thousand euro LIABILITIES AND EQUITY 6M 2026 12M 2025 % var. Financial liabilities at amortised cost 102,534 69,850 46.8% Liabilities under insurance contracts 871,469 853,522 2.1% Liabilities for remaining coverage 417,732 404,153 3.4% Liabilities for claims incurred 453,737 449,369 1.0% Non-technical provisions 11,817 9,048 30.6% Other liabilities 50,834 37,825 34.4% Total liabilities 1,036,654 970,245 6.8% Equity 432,093 408,301 5.8% Valuation adjustments (1,793) (3,846) -53.4% Equity instruments at fair value through equity 4,118 4,562 -9.7% Debt securities at fair value through equity (7,738) (8,186) -5.5% OCI insurance contracts 1,860 (154) -1,307.8% OCI reinsurance contracts (33) (68) -51.5% Total equity 430,300 404,455 6.4% Total libilities and equity 1,466,954 1,374,700 6.7% LIABILITIES AND EQUITYASSETS IFRS17&9 03. Consolidated Balance Sheet
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Thank you For more information: Beatriz Izard beatriz.izard@lineadirecta.es Mark Brewer mark.brewer@lineadirecta.es Lineadirectaaseguradora.com Follow us: LinkedIn.com/company/linea-directa-aseguradora Instagram.com/lineadirectaaseguradora TikTok.com/@lineadirectaaseguradora X.com/lineadirecta_es YouTube.com/LineaDirectaSeguros Lineadirectaaseguradora.com/blog