Slides
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Investor Presentation January–December 2025 5 February 2026 1
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2 Disclaimer This presentation may contain forward-looking statements that reflect management’s current views with respect to certain future events and potential financial performance. Although Sampo believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward- looking statements as a result of various factors. Important factors that may cause such a difference for Sampo include, but are not limited to: (i) the macroeconomic development, (ii) change in the competitive climate and (iii) developments in capital markets. This presentation does not imply that Sampo has undertaken to revise these forward-looking statements, beyond what is required by applicable law or applicable stock exchange regulations if and when circumstances arise that will lead to changes compared to the date when these statements were provided. 5 February 2026
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Financial highlights 5 February 2026 3
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4 1-12/2025: Strong operational momentum continued 5 February 2026 Sustained top-line momentum, driven by robust performance across private and SME lines Strong UW margins, supported by positive Nordic underlying trends, a benign claims environment and Topdanmark synergies Solid development in key growth areas of personal insurance, SME and in the UK Reported EPS increased by 65 per cent, driven by EUR 540 million net gain on NOBA € 10.7 billion +8% year-on-year Gross written premiums € 1.5 billion +12% year-on-year Underwriting result 174% +2%-p from Q3/2025 Solvency II coverage € 0.50 +7% year-on-year Operating EPS GWP and UW result growth on a like-for-like basis. Regular dividend proposed to be increased to EUR 0.36 per share, representing 6 per cent increase
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Strong development in key underwriting KPIs 5 Insurance revenue Combined ratio Underwriting result 5 February 2026 8,386 9,078 2024 2025 • Like-for-like GWP growth of 6% in Q4 and 8% in 2025 • Top-line driven by strong momentum across private and SME lines 57.5% 59.3% 59.0% 58.3% 25.9% 25.0% 25.3% 25.4% Q4/2024 Q4/2025 2024 2025 Risk ratio (%) Cost ratio (%) • Risk ratio improvement year-on-year, supported by benign claims environment • Cost ratio affected by increased sales activity, while underlying development as expected 1,316 1,485 2024 2025 • Currency adjusted growth of 1% in Q4 and 12% in 2025 • UW result in Q4 affected by severe weather claims following two major storms, underlying development remained strong 361 364 Q/2024 Q4/2025 2,172 2,322 Q4/2024 Q4/2025 84.3% 83.6%83.4% 84.3% (EURm) (EURm)
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5 February 2026 6 Excellent result underpinned by solid performance across segments Nordic Industrial 2024 2025 74 109 Private Nordic 2024 2025 UW result and combined ratio 82.9% 82.1% 4,183 (+8.5%) GWP Insurance revenue 3,995 (+8.1%) Figures in EUR million. GWP and Insurance revenue include broker revenues. GWP and Insurance revenue growth on like-for-like basis. Private UK 2024 2025 88.5% 89.2% UW result and combined ratio 2,865 (+13.0%) GWP Insurance revenue 2,000 (+22.0%) Nordic Commercial 83.5% 85.5% UW result and combined ratio 1,273 (+5.2%) GWP Insurance revenue 537 (+3.5%) 88.7% 81.3% UW result and combined ratio 1,046 (-3.0%) GWP Insurance revenue 584 (-10.3%) Nordic Industrial 2024 2025 Nordic Commercial 83.5% 82.9% UW result and combined ratio 2,391 (+5.9%) GWP Insurance revenue 2,201 (+3.4%) 628 715 +14% 216 190 +13% 376 352 +7% +48%
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2022 2023 2024 Premium growth Underlying margins Weather, LC, PYD & other 2025 7 Another strong year of underwriting profit growth 5 February 2026 • Third consecutive year with UW profit growth of 13% driving 44% total increase over last three years • Strong organic growth in private & SME the main driver, supported by rising digital sales and high retention • Benign weather and large claims for the year as a whole (benefit largely offset by conservative reserving) but Q4 affected by winter storms Amy and Johannes and • Improvement in Nordic underlying risk ratio as pricing covered loss cost experience • Nordic operating cost ratio improvement in line with target on strong delivery of Topdanmarksynergies +8%p 1,316 1,485 1,164 1,031 +13%+13%+13% +44% +7%p +1%p +5%p
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5 February 2026 8 High and stable profitability driven by increasing productivity and discplined underwriting Sampo was affected by two winter storms, causing a total of EUR ~50 million in claims in Q4 Storm Amy • October 2025 • Main impact in Norway and Sweden • Estimated claims cost EUR 34 million Storm Johannes • Late December 2025 • Main impact in Finland and Northern Sweden • Estimated claims cost around EUR 15 million • Conditions in Sampo’s private and SME markets remain stable overall, albeit with declining pricing in UK motor • Strong 1/1 renewals in Commercial with mid-single digit growth, while Industrial broadly flat due to competition • Q4/2025 affected by winter storms Amy and Johannes in the Nordics, costing around EUR 50 million, with material spillover into Q1/2026 expected from Johannes • Outside the winter storms, weather experience was benign in Q4, particularly in Denmark • Underlying claims frequency and inflation trending within expected level across all major areas • 1/1 reinsurance renewal successfully executed with material rate decreases achieved on the property per risk, UK motor and other covers
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152 175 2024 2025 9 Continued strong organic growth in Private Nordic 5 February 2026 7% 11% 6% 7% 9% 11% 6% 10% Total Personal insurance Private property Motor 2024 2025 Sustained and broad-based growth in Private Nordic on high retention, rising digital sales and solid partnerships Private Nordic like-for-like GWP growth (%) 175mn Online sales in 2025 >89% Stable trend in retention across all Nordic markets >89% Ambition achieved one year early Another year of strong GWP growth on the back of positive development across all major lines Growth of 11% in Personal Insurance following addition of 30,000 insured persons Online sales grew 15% to reach 2026 target of EUR 175 million one year ahead of plan Successful renewal of major partnerships, including main bancassurance deal with Nordea Strong traction with mobility partners in Denmark with 4 new agreements in 2025 +15% Online sales (EUR mn)
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5 February 2026 10 Disciplined approach to softening UK motor market • UK motor market pricing continued to decline in the fourth quarter, while claims trends remain benign and broadly in line with historical levels • Like-for-like LCP growth slowed sequentially over 2025, balanced partly by the impact of higher retention rates arising from lower prices, particularly in Q4 • Like-for-like GWP growth declining faster than LCP growth, driven by pricing pressures and reduced average premium benefit from mix shift • Priority, as always, remains maintaining pricing discipline and pricing to achieve target operating ratios • In a softening market, Private UK is expected to operate with in the upper part of its combined ratio range 26% 13% 7% 5% 5.4% 3.8% 3.0% 2.8% 0% 2% 4% 6% 0% 10% 20% 30% Q1 Q2 Q3 Q4 Life-for-like GWP growth (LHA, yoy, %) LCP growth (RHA, qoq, %) Private UK growth reduced over 2025 on lower market pricing
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4.2% 5.1% 6.8% 2023 2024 2025 Customer traction and digital adoption driving Commercial growth 115 February 2026 23 27 40 2023 2024 2025 Operational ambition for 2024-2026 Growth rates for 2023 and 2024 excluding Topdanmark. Solid growth momentum underpinned by increasing traction with SME and through digital channels SME like-for-like GWP growth (%) Commercial online sales (EUR mn) Another year of strong GWP growth driven by target areas and continue high retention 15% like-for-like growth in online sales – on track to reach EUR 45 million target for next year Solid growth momentum in Personal Insurance with 13% growth in the segment and 18% growth in Oona Mid-single digit growth at 1 January renewals Increasing traction in the SME segment (c45% of segment) with 3,200 new customers added in 2025
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Topdanmark synergies emerging faster than expected 12 Commentary Synergy run-rate realisation target by year 5 February 2026 • Synergy emergence running ahead of plan, largely as a result of faster than expected delivery • Spike in synergy realisation in H2, driven by central unit costs following the legal merger of If and Topdanmark in July 2025 • In 2026, synergy deliver is gradually shifting from the corporate centre toward operational benefits • Revenue synergies limited to date but recent agreements with multiple car brands show encouraging early momentum • Sampo remains committed to the EUR 140m target by 2028 but will provide an update on the phasing of synergy emergence in 2026 and 2027 with Q1/2025 results 37 24 55 87 140 Realised 2025 2026 2027 2028 EURm Target per yearDelivered to date Synergies by source (2025) Synergies by type (2028) 33 4 Limited Costs Claims Revenue EURm 140 EURm IT Other costs Claims Revenue
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87% 8% 5%1% Fixed income Equities NOBA Alternatives Group investment mix Total assets Fixed income allocation 5 February 2026 13 Attractive investment returns supplemented by large NOBA gain • Attractive interest and dividend income of EUR 592 million, slightly down due to lower interest rates across the portfolio • Market yield (3.6%) remains slightly below running yield (3.9%) • EUR 540 million gain on NOBA stake in addition to strong performance in insurance company equity portfolios • Maintain cautious investment stance given elevated asset valuations and ongoing geopolitical and economic risks EURbn 17.8 Another year of strong investment returns 47% 21% 6% 3% 9% Credit Covered Government Index-linked Money market & cash EURbn 15.4 Note: Average investment return figure based on If portfolio until 2022 592 232 540 -80 1,285 Interest & dividend income Net gains NOBA Other items Net investment income Group net investment result (2025, EUR million) 5.7% 5.5% 7.6% 4.1% 2023 2024 2025 2009-25 avg Sampo Group investment return (%)
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14 Solvency II coverage supported by solid operating performance Group Solvency II ratio 5 February 2026 172% 174% 9% 0% 4% -3% -8% Q3/2025 Operating performance Market effects NOBA Other items Dividend accural Q4/2025 Target: 150%-190% 5,809 6,059 3,376 3,490 Own funds SCR • Operating performance continued to have solid contribution to solvency • Market effects flat due to higher symmetric adjustment • NOBA had 4%-p positive effect, primarily driven by FX hedges implemented in Q4 • Other items included underwriting seasonality and further alignment in the Danish operations formerly under Topdanmark • Approval for the PIM to include full Danish business expected to be received in spring • Financial leverage stood at 23.6%, down from 24.5% at the end of Q3
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15 Strong capital generation and disciplined capital management 5 February 2026 2024 2025 Capital optimisation Deployable capital generated Capital deployed Sampo generated EUR 3.5 billion of capital in 2024-2025, which has been deployed into business growth, the Topdanmark deal, dividends and buybacks 1.3bn 1.2bn Dividend Buybacks M&A Nordic PIM • Sampo is highly cash and capital generative and it continuously works to enhance capital efficiency • In 2025, the Group generated EUR 1.5 billion of deployable capital through operating earnings (1.34bn) and the IPO of NOBA (0.15bn) • In 2026, Sampo aims to deliver > EUR 4.5 bn cumulative target for 2024-2026. The drivers for 2026 deployable capital generation are: › Operating earnings is the main driver › Potential further sale of NOBA shares, subject to valuation, likely executed in several steps › Potential one-off benefit PIM approval for Denmark • Capital primarily deployed into share dividends and share buybacks, with only a modest proportion needed for the Topdanmark transaction and organic growth Change in target range >4.5bn Target for 2024-2026 Deployed 3.5bn Deployable capital is defined as the sum of cumulative operating results and capital optimisation actions in the period. Business development 3.4bn96%NOBA IPO 1.0 bn Operating earning
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16 Extending our track record of delivering attractive capital returns 5 February 2026 0.26 0.28 0.30 0.32 0.34 0.36 0.06 0.06 0.06 0.48 0.16 0.04 2020 2021 2022 2023 2024 2025 Regular DPS Mandatum Extra DPS Sampo is clearly focused on delivering attractive capital returns 4754001,228750 Buybacks, EURm* • The Board is proposing a regular dividend of EUR 0.36 per share to the AGM, representing growth of 6% • In addition, Sampo has returned EUR 350 million through share buybacks launched in 2025, funded by 2024 earnings and the NOBA IPO • Capital position to be reviewed with Q1/2026 result, once further clarity on the Danish PIM inclusion and potential NOBA sales has been gained • Sampo updated its distribution policy to enable it to continue to deliver an attractive mix of capital returns • The Group aims to provide predictable, reliable and growing dividends while leaving room for material regular share buybacks 5.4 billion Regular dividends 2020-2025 5.1 billion Excess capital returned above regular dividend 2020-2025 10.5 billion Total capital returned 2020-2025 350 *Total buybacks allocated to the year in which the programme launched
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17 Sampo enters 2026 with solid operational momentum 5 February 2026 Sampo is in a strong position to continue to drive higher underwriting profits through organic growth • Sampo continues to deliver steady underwriting profit growth, driven by attractive organic growth • Wintry Nordic weather conditions in early 2026, with spillover claims from Storm Johannes – the lower end of the UW profit outlook range reflects related uncertainty • Pricing remains stable overall but with elevated competition in UK motor and Nordic Industrial • Underlying claims costs development expected to be in line with historical levels in 2026. • Sampo continues to target 9% Op EPS growth on average and combined ratio below 85% for 2024-2026 2023 2024 2025 2026 outlook Insurance revenue (EURbn) 2023 2024 2025 2026 outlook Underwriting result (EURm) 1,485– 1,600 8.4 7.5 1,485 1,316 1,164 +5-8% +0-8% 9.5–9.8 9.1
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Performance by segment 5 February 2026 18
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5 February 2026 19 Private Nordic: Continued high quality growth • GWP growth was mainly driven by rate actions, strong retention, and positive development in key target areas • All countries recorded GWP growth above 5% year-on-year. Norway led the development with a 16% increase, driven by supportive market conditions combined with strong new sales and high retention • Retention remained strong and stable at >89%, despite rate increases to cover claims inflation, with a growing customer base and consistently high customer satisfaction • Digital sales grew by 15% in 2025, achieving the operational ambition of EUR 175 million for 2026 a full year ahead of schedule • Margins benefited from favourable weather conditions, a positive underlying risk ratio trend and an improved cost ratio • Underlying claims frequencies trended below previous years’ levels throughout the year, largely due to benign weather € 4,183 million +9% year-on-year Gross written premiums 82.1% -0.8%-p year-on-year Combined ratio € 715 million +14% year-on-year Underwriting result >89% improved year-on-year Retention rate GWP growth on like-for-like basis.
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5 February 2026 20 Private Nordic: Key growth drivers 11% 5% 7% 7.0% 11% 6% 10% 8.5% Personal Insurance Private property Motor Total Q4/2025 2025 1-12/2025 GWP growth, like-for-like Digital sales (EURm) 130 144 175 2023 2024 2025 Operational ambition for 2024-2026 90% 90% 89% 89% >89% 2021 2022 2023 2024 2025 Retention rate (%) Customer NPS 61 62 60 57 57 2021 2022 2023 2024 2025 Insured households (millions) 3.2 3.3 3.3 3.7 3.7 2021 2022 2023 2024 2025 5.0% 6.5% 8.5% 2023 2024 2025 GWP growth, like-for-like 3,627 3,872 4,183 3,489 3,667 3,995 GWP: Ins. revenue: Growth rates for 2023 and 2024 excluding Topdanmark. Personal insurance operational ambition refers to the total Nordic portfolio, not only Private Nordic Retention, Digital sales and NPS 2021-2024, and insured households 2021-2023 excluding Topdanmark. 175
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5 February 2026 21 Private UK: Selective growth within target margins • GWP growth supported by higher policy count and the impact of business mix on average premiums • Targeted growth in motor and home combined with higher retention, drove an increase in customer policies of 3% in the fourth quarter • The pricing environment continued to soften in Q4, leaving limited room for further market price reductions within target margins • Claims inflation remained broadly stable in Q4, while claims frequencies and severities saw common seasonal variation in the quarter • Cost ratio improved by 0.6%-p despite increasing operating costs as the operating leverage begins to be visible € 2,865 million +13% year-on-year Gross written premiums 89.2% +0.7%-p year-on-year Combined ratio € 216 million +13% year-on-year Underwriting result 4.5 million +3% from Q3/2025 Live customer policies GWP includes broker revenues, growth rate on like-for-like basis.
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5 February 2026 22 Private UK: Key growth drivers 2.80 2.92 3.14 3.56 2022 2023 2024 2025 UK: motor policies in force, millions UK: home policies in force, millions 0.41 0.54 0.72 2022 2023 2024 2025 26% 32% 21% 13% 2022 2023 2024 2025 UK: GWP growth, like-for-like Including broker revenues 0.91
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5 February 2026 23 Nordic Commercial: Growth delivered with solid profitability • GWP driven by high retention, rate increases to mitigate claims inflation and robust customer growth momentum in SME • SME delivered 7% growth, reflecting continued execution against operational ambition levels • Increased customer adoption of digital channels benefited SME, with digital sales up 15% in 2025 and 3% in Q4, as the prior year period included one material large transaction • Personal insurance within Commercial sustained growth momentum, with 13% year-on-year growth and 11% growth in Q4 • Underwriting performance was supported by favourable large claims outcome and benign underlying claims frequency development, while maintaining prudent approach to reserving € 2,391 million +6% year-on-year Gross written premiums 82.9% -0.5%-p year-on-year Combined ratio € 376 million +7% year-on-year Underwriting result +7% SME GWP growth GWP growth on like-for-like-basis.
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5.6% 5.6% 5.9% 2023 2024 2025 5 February 2026 24 Nordic Commercial: Key growth drivers GWP growth, like-for-like 1,977 2,173 2,391 1,945 2,128 2,201 GWP: Ins. rev.: 23 27 40 0 5 10 15 20 25 30 35 40 45 2023 2024 2025 Commercial digital sales (EURm) 4.2% 5.1% 6.8% 2023 2024 2025 SME: GWP growth, like-for-like Operational ambition for 2024-2026 Growth rates for 2023 and 2024 excluding Topdanmark. Digital sales for 2023-2024 and 1-9/2024 excluding Topdanmark.Growth rates for 2023 and 2024 excluding Topdanmark.
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5 February 2026 25 Nordic Industrial: Strong margins in a softening market • Intentional de-risking and increased competition put pressure on premium volumes in 2025, with insurance revenue better reflecting underlying development than GWP • De-risking actions are now largely completed but volume growth remained flat in a competitive 1/1 2026 renewal • Like-for-like GWP growth in Q4 driven by positive development in the property segments in Denmark and Finland • Underwriting performance was supported by disciplined underwriting, de-risking actions and a favourable claims environment • The cost ratio increased due to lower premium volumes, but underlying costs developed in line with expectations € 1,046 million -3% year-on-year Gross written premiums € 584 million -10% year-on-year Insurance revenue GWP growth on like-for-like basis. 81.3% -7.4%-p year-on-year Combined ratio € 109 million +48% year-on-year Underwriting result
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Financial supplement 5 February 2026 26
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Profit & loss detail 5 February 2026 27
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28 Key result movements Q4/2025 EURm Q4/2025 Q4/2024 Comments Gross written premiums 2,277 2,212 - Like-for-like growth of 6% driven by robust performance in Private and SME lines, partly offset by softer development in Private UK Insurance revenue, net 2,322 2,172 - Growth supported by solid performance, particularly in the Private Nordic, driven by strong performance in main product lines Underwriting result 364 361 - UW result growth of 1% on a currency adjusted basis driven by top-line growth and solid underlying profitability - Private Nordic 183 175 - UW result growth of 5%, supported by continued top-line growth and solid margins, despite storm-related headwinds - Private UK 41 51 - UW result decreased by 20%, driven by higher risk ratio - Nordic Commercial 96 99 - UW result decreased by 3%, impacted by elevated claims related to storms Amy and Johannes - Nordic Industrial 29 12 - UW result growth of 138% backed by strong margins in a softening market - Baltic and other operations 14 24 - UW result down EUR 10 million, mainly due to higher incurred claims Combined ratio, % 84.3 83.4 - Deterioration driven by materially higher severe weather claims, while underlying development remained solid Nordic underlying risk ratio, % 63.2 63.5 - Solid 0.3%-p improvement driven by disciplined underwriting and a favourable large claims development Net financial result 375 62 - Net financial result boosted by 172 million net gain on NOBA Profit before taxes 668 219 - Improvement driven by higher net financial result, combined with solid underwriting result Operating EPS, EUR 0.12 0.13 - Op EPS declined by 10% driven by higher claims in the Nordics and softer performance in the UK 5 February 2026
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Top-line development 29 3,627 3,872 4,183 2,063 2,565 2,865 1,977 2,173 2,391966 1,070 1,046 238 249 253 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 11,000 2022 2023 2024 2025 Private Nordic Private UK Nordic Commercial Nordic Industrial Baltic and other operations 8,870 EURm Gross written premiums 5 February 2026 3,487 3,667 3,995 1,251 1,659 2,000 1,945 2,128 2,201627 657 584 223 275 298 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 2022 2023 2024 2025 Private Nordic Private UK Nordic Commercial Nordic Industrial Baltic and other operations Insurance revenue, net EURm GWP and insurance revenue include broker revenues. 8,375 7,277 7,535 8,386 9,078 10,738 9,931 29
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85.8% 84.6% 84.3% 83.6% 70% 72% 74% 76% 78% 80% 82% 84% 86% 88% 2022 2023 2024 2025 Underwriting result and combined ratio development 595 628 715 128 190 216 315 352 376 80 74 109 46 72 69 0 200 400 600 800 1,000 1,200 1,400 1,600 2022 2023 2024 2025 Private Nordic Private UK Nordic Commercial Nordic Industrial Baltic and other operations 1,164 EURm Underwriting result Combined ratio 5 February 2026 1,031 30 1,316 1,485
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5 February 2026 31 Group: results and key figures EURm Q4/2025 Q3/2025 Q2/2025 Q1/2025 Q4/2024 Q3/2024 Q2/2024 Q1/2024 FY 2025 FY 2024 FY 2023 Gross written premiums 2,277 2,218 2,542 3,701 2,212 2,088 2,333 3,297 10,783 9,931 8,870 Insurance revenue, net 2,322 2,303 2,264 2,188 2,172 2,137 2,057 2,020 9,078 8,386 7,535 Claims incurred, net -1,377 -1,338 -1,286 -1,289 -1,248 -1,228 -1,211 -1,261 -5,290 -4,948 -4,482 Operating expense (incl. claims handling costs) -581 -573 -585 -563 -563 -535 -526 -499 -2,302 -2,122 -1,890 Underwriting result 364 392 393 336 361 374 321 260 1,485 1,316 1,164 Net investment income 358 554 292 80 70 340 183 295 1,285 888 1,006 Insurance finance income or expense 17 -5 -107 21 -7 -212 -3 -30 -74 -252 -446 Net financial result 375 549 185 101 62 128 180 265 1,210 636 560 Other income or expense -21 -18 -3 -7 -155 -27 -13 -16 -48 -210 -81 Non-operational amortisations -25 -51 -26 -26 -23 -19 -19 -18 -128 -79 -68 Finance expenses -25 -6 -24 -28 -26 -25 -25 -26 -83 -103 -93 Profit before taxes 668 866 526 377 219 432 444 465 2,436 1,559 1,481 Net profit for the equity holders 538 757 417 285 180 320 310 343 1,998 1,154 1,323 - of which from life operations - - - - - - -26 - - -26 251 Earnings per share, EUR 0.20 0.28 0.16 0.11 0.06 0.13 0.12 0.14 0.74 0.45 0.52 Operating EPS, EUR 0.12 0.14 0.14 0.11 0.13 0.12 0.12 0.10 0.50 0.47 0.41 Risk ratio, % 59.3 58.1 56.8 58.9 57.5 57.5 58.9 62.4 58.3 59.0 59.5 Cost ratio, % 25.0 24.9 25.9 25.7 25.9 25.0 25.6 24,7 25.4 25.3 25.1 Combined ratio, % 84.3 83.0 82,6 84.6 83.4 82.5 84.4 87.1 83.6 84.3 84.6 Gross written premiums and insurance revenue include broker revenues.
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5 February 2026 32 Group: operating result EURm Q4/2025 Q3/2025 Q2/2025 Q1/2025 Q4/2024 Q3/2024 Q2/2024 Q1/2024 FY2025 FY 2024 FY 2023 Underwriting result 364 392 393 336 361 374 321 260 1,485 1,316 1,164 Interest and dividend income 142 144 164 142 155 143 155 157 592 609 593 Realised gains or losses -1 30 7 -11 9 -17 23 31 25 46 86 Unwind of discounting -64 -59 -59 -57 -54 -63 -62 -59 -240 -238 -248 Other income or expense (excl. one- offs) -21 -18 -14 -7 -5 -12 -13 -16 -59 -46 -81 Finance expense -25 -26 -24 -28 -26 -25 -25 -26 -103 -103 -93 Operating result before taxes 395 463 466 375 439 399 399 348 1,700 1,585 1,420 Taxes on operating result -83 -97 -98 -79 -92 -84 -84 -73 -357 -333 -298 Non-controlling interest - - - - - -18 -19 -22 - -59 -76 Operating result 312 366 368 297 347 297 296 253 1,343 1,193 1,046 Average share count (YTD, split adjusted), mn shares - - - - - - - - 2,685 2,561 2,530 Operating EPS, EUR 0.12 0.14 0.14 0.11 0.13 0.12 0.12 0.10 0.50 0.47 0.41 Growth, % -10 16 16 9 55 2 5 -2 7 13 - In the third quarter of 2025, the reporting method was changed so that interest income on bank accounts and assets at amortised cost have been moved from realised gains or losses to interest and dividend income, in line with the change in the net financial result table. The figures for 2023-2024 has been restated as well.
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5 February 2026 33 Private Nordic: results and key figures EURm Q4/2025 Q3/2025 Q2/2025 Q1/2025 Q4/2024 Q3/2024 Q2/2024 Q1/2024 FY 2025 FY 2024 FY 2023 Gross written premiums 991 1,011 1,100 1,081 942 917 1,009 1,004 4,183 3,872 3,627 Insurance revenue, net 1,027 1,014 995 958 937 925 908 897 3,995 3,667 3,489 Claims incurred, net -629 -610 -598 -594 -548 -542 -537 -598 -2,431 -2,226 -2,125 Operating expense (incl. claims handling costs) -216 -209 -215 -209 -214 -202 -204 -195 -849 -814 -769 Underwriting result 183 196 182 155 175 181 168 104 715 628 595 GWP growth, like-for-like, % 7.0 9.5 8.7 8.5 - - - - 8.5 - - Insurance revenue growth, like-for-like, % 8.1 8.8 8.2 7.4 - - - - 8.1 - - Risk ratio, % 61.2 60.1 60.1 61.9 58.5 58.6 59.2 66.7 60.9 60.7 60.9 Cost ratio, % 21.0 20.6 21.6 21.8 22.8 21.8 22.4 21.7 21.2 22.2 22.0 Combined ratio, % 82.2 80.7 81.7 83.8 81.4 80.4 81.6 88.4 82.1 82.9 83.0
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5 February 2026 34 Private UK: results and key figures EURm Q4/2025 Q3/2025 Q2/2025 Q1/2025 Q4/2024 Q3/2024 Q2/2024 Q1/2024 FY 2025 FY 2024 FY 2023 Gross written premiums 622 764 757 722 627 716 662 560 2,865 2,565 2,063 Insurance revenue, net 513 518 499 470 452 440 399 369 2,000 1,659 1,251 Claims incurred, net -302 -272 -253 -245 -245 -216 -204 -204 -1,073 -868 -658 Operating expense (incl. claims handling costs) -170 -183 -187 -172 -156 -165 -147 -133 -712 -601 -465 Underwriting result 41 63 59 53 51 59 48 32 216 190 128 GWP growth, like-for-like, % 5 7 13 26 - - - - 13 - - Insurance revenue growth, like-for-like, % 19 21 24 24 - - - - 22 - - Live customer policies, mn 4.5 4.4 4.2 4.1 3.9 3.8 3.6 3.5 4.5 3.9 3.5 Risk ratio, % 58.8 52.5 50.7 52.2 54.2 49.0 51.1 55.3 53.6 52.3 52.6 Cost ratio, % 33.2 35.4 37.6 36.5 34.5 37.5 36.8 36.1 35.6 36.2 37.2 Combined ratio, % 91.9 87.9 88.2 88.7 88.7 86.5 87.9 91.4 89.2 88.5 89.8 Gross written premiums and insurance revenue include broker revenues.
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5 February 2026 35 Nordic Commercial: results and key figures EURm Q4/2025 Q3/2025 Q2/2025 Q1/2025 Q4/2024 Q3/2024 Q2/2024 Q1/2024 FY 2025 FY 2024 FY 2023 Gross written premiums 401 282 360 1,348 383 275 328 1,188 2,391 2,173 1,977 Insurance revenue, net 561 554 549 537 544 537 524 522 2,201 2,128 1,945 Claims incurred, net -324 -326 -309 -325 -304 -317 -322 -310 -1,285 -1,254 -1,153 Operating expense (incl. claims handling costs) -140 -133 -133 -134 -141 -127 -128 -126 -539 -522 -477 Underwriting result 96 95 107 78 99 93 74 86 376 352 315 GWP growth, like-for-like, % 6.4 7.8 6.3 5.2 - - - - 5.9 - - Insurance revenue growth, like-for-like, % 2.7 3.0 4.4 3.5 - - - - 3.4 - - Risk ratio, % 57.8 58.9 56.3 60.6 55.9 59.1 61.4 59.4 58.4 58.9 59.2 Cost ratio, % 25.0 23.9 24.2 24.9 26.0 23.6 24.5 24.1 24.5 24.5 24.5 Combined ratio, % 82.8 82.9 80.5 85.5 81.8 82.7 85.9 83.5 82.9 83.5 83.8
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5 February 2026 36 Nordic Industrial: results and key figures EURm Q4/2025 Q3/2025 Q2/2025 Q1/2025 Q4/2024 Q3/2024 Q2/2024 Q1/2024 FY 2025 FY 2024 FY 2023 Gross written premiums 205 104 256 481 203 122 269 477 1,046 1,070 966 Insurance revenue, net 145 141 147 150 167 165 160 165 584 657 627 Claims incurred, net -82 -88 -84 -87 -120 -115 -113 -107 -341 -455 -428 Operating expense (incl. claims handling costs) -34 -33 -34 -33 -34 -31 -32 -31 -134 -128 -118 Underwriting result 29 20 29 31 12 19 15 27 109 74 80 GWP growth, like-for-like, % 1.9 -15.2 -6.6 0.3 - - - - -3.0 - - Insurance revenue growth, like-for-like, % -11.9 -13.1 -7.1 -9.0 - - - - -10.3 - - Risk ratio, % 56.2 62.5 57.1 57.8 72.1 69.5 70.4 64.8 58.4 69.2 68.3 Cost ratio, % 23.5 23.5 22.8 21.8 20.5 19.0 19.9 18.7 22.9 19.5 18.9 Combined ratio, % 79.7 86.1 80.0 79.6 92.6 88.5 90.3 83.5 81.3 88.7 87.3
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5 February 2026 37 Baltic & other operations: results and key figures EURm Q4/2025 Q3/2025 Q2/2025 Q1/2025 Q4/2024 Q3/2024 Q2/2024 Q1/2024 FY 2025 FY 2024 FY 2023 Gross written premiums 58 57 69 69 58 57 65 69 253 249 238 Insurance revenue, net 75 76 75 72 72 70 65 67 298 275 223 Claims incurred, net -40 -45 -42 -38 -31 -40 -35 -42 -161 -146 -118 Operating expense (incl. claims handling costs) -21 -12 -16 -15 -18 -9 -15 -14 -68 -57 -60 Underwriting result 14 19 16 19 24 22 15 11 69 72 46 Risk ratio, % 52.9 54.3 55.7 52.6 42.5 54.6 53.4 62.4 53.9 53.0 52.6 Cost ratio, % 28.2 20.0 22.3 21.3 24.2 14.5 23.2 20.8 23.0 20.7 26.8 Combined ratio, % 81.1 74.3 78.0 73.9 66.8 69.1 76.6 83.2 76.9 73.7 79.4
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Q4/2025 Q3/2025 Q2/2025 Q1/2025 Q4/2024 Q3/2024 Q2/2024 Q1/2024 FY 2025 FY 2024 FY 2023 Risk ratio, % 59.7 59.9 58.6 61.1 58.9 59.9 61.1 64.3 59.8 61.0 61.1 Large claims, % -1.4 -0.3 -1.6 -1.0 0.8 3.7 3.2 -2.7 -1.1 1.2 1.3 Severe weather, % 2.5 0.0 -0.3 -0.5 1.4 0.2 0.4 6.9 0.4 2.2 3.3 PYD, RA and other technical effects, % -1.6 0.5 1.0 -0.2 -4.0 -4.7 -2.4 -2.7 -0.1 -3.5 -3.7 Discounting effect, current year, % -3.0 -3.0 -2.9 -2.8 -2.8 -2.4 -2.9 -2.9 -2.9 -2.8 -3.3 Underlying risk ratio, % 63.2 62.8 62.5 65.5 63.5 63.1 62.9 65.7 63.5 63.8 63.6 Change, year-on-year, % -0.3 -0.3 -0.4 -0.2 - - - - -0.3 0.2 - 38 Nordic underlying risk ratio development All the key figures in the table above are calculated on a net basis. Ratios are also based on SEK figures, which may cause small quarterly differences compared to ratios based on reported EUR figures. Large claims measured against budget but severe weather claims are reported in full. Negative figures indicate a positive outcome. 5 February 2026
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5 February 2026 39 Group net financial result EURm Q4/2025 Q3/2025 Q2/2025 Q1/2025 Q4/2024 Q3/2024 Q2/2024 Q1/2024 FY 2025 FY 2024 FY 2023 Fixed income 137 139 132 134 143 136 141 139 541 559 520 Equities 3 2 19 4 8 3 10 16 28 37 59 Funds 3 4 12 5 4 4 4 3 23 16 16 Interest and dividend income 142 144 164 142 155 143 155 158 592 612 595 Fixed income -16 -15 86 -13 -48 201 14 -19 41 147 364 Equities 232 428 11 -24 -25 -18 2 122 648 81 64 Funds 18 19 34 12 -3 25 12 35 83 70 60 Net gains or losses 234 432 131 -25 -76 208 28 138 772 298 488 Other items -18 -22 -2 -37 -10 -11 0 -2 -80 -22 -77 Net investment income 358 554 292 80 70 340 183 295 1,285 888 1,006 Unwind of discounting -64 -59 -59 -57 -54 -63 -62 -59 -240 -238 -248 Changes in discount rates 69 65 -42 91 43 -156 54 34 183 -25 -160 Indexation of annuities 12 -11 -5 -12 4 7 5 -5 -17 11 -38 Insurance finance income or expense 17 -5 -107 21 -7 -212 -3 -30 -74 -252 -446 Net financial result 375 549 185 101 62 128 180 265 1,210 636 560 In the third quarter of 2025, the reporting method regarding investment income in the table above was changed so that interest income on bank accounts and assets at amortised cost have been moved from Other items to Fixed income under Interest and dividend income. The figures for 2023-2024 has been restated as well.
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Investments & balance sheet 5 February 2026 40
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5 February 2026 41 Q4/2025 Q3/2025 Q2/2025 Q1/2025 Q4/2024 Q3/2024 Q2/2024 Q1/2024 FY 2025 FY 2024 FY 2023 Property, plant and equipment 301 276 288 296 284 285 299 308 301 284 318 Intangible assets 3,492 3,510 3,556 3,629 3,637 3,639 3,637 3,623 3,492 3,637 3,637 Investments in associates 5 4 4 4 4 14 13 13 5 4 12 Financial assets 17,154 16,640 16,143 16,749 16,090 16,165 15,882 16,684 17,154 16,090 15,757 Deferred income tax 2 1 6 8 2 2 1 3 2 2 3 Reinsurance contract assets 2,488 2,446 2,511 2,408 2,618 2,770 2,511 2,303 2,488 2,618 2,282 Other assets 962 1,161 978 1,080 880 891 907 844 962 880 800 Cash and cash equivalents 1,319 1,492 1,321 1,819 962 1,494 1,487 1,481 1,319 962 1,415 Total assets 25,732 25,531 24,808 25,994 24,478 25,260 24,739 25,259 25,723 24,478 24,225 Insurance contract liabilities 12,760 12,960 12,963 13,009 12,286 12,836 12,418 12,331 12,760 12,286 11,716 Subordinated debts 1,317 1,314 1,626 1,650 1,642 1,643 1,642 1,640 1,317 1,642 1,645 Other financial liabilities 1,413 1,384 1,288 1,467 1,395 1,382 1,303 1,265 1,413 1,395 1,269 Deferred income tax 553 566 528 555 535 581 570 571 553 535 567 Other liabilities 1,589 1,646 1,563 1,833 1,562 1,716 1,457 1,481 1,589 1,562 1,342 Total liabilities 17,631 17,860 17,968 18,514 17,419 18,158 17,390 17,288 17,631 17,419 16,538 Share capital 98 98 98 98 98 98 98 98 98 98 98 Reserves 3,828 3,828 3,531 3,531 3,531 3,531 1,530 1,530 3,828 3,531 1,530 Retained earnings 4,927 4,533 3.971 4,473 4,176 4,150 6,099 6,726 4,927 4,176 6,378 Other components of equity -762 -788 -760 -622 -746 -737 -760 -830 -762 -746 -743 Non-controlling interests - - - - - 60 382 447 - - 424 Total equity 8,092 7,671 6,840 7,480 7,059 7,101 7,349 7,971 8,092 7,059 7,687 Total equity and liabilities 25,723 25,531 24,808 25,994 24,478 25,260 24,739 25,259 25,723 24,478 24,225 Group balance sheet
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5 February 2026 42 Q4/2025 Q3/2025 Q2/2025 Q1/2025 Q4/2024 Q3/2024 Q2/2024 Q1/2024 FY 2025 FY 2024 FY 2023 Credit bonds, funds and loans 47% 47% 47% 43% 49% 46% 45% 44% 47% 49% 44% Covered bonds 21% 21% 24% 25% 24% 23% 22% 23% 21% 24% 23% Government bonds 6% 7% 7% 7% 6% 5% 5% 4% 6% 6% 4% Index-linked bonds 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% Money market and cash 9% 10% 8% 11% 6% 11% 12% 12% 9% 6% 12% Total fixed income 87% 88% 89% 89% 88% 88% 87% 86% 87% 88% 86% Equities and equity funds 13% 11% 8% 8% 8% 8% 9% 8% 13% 8% 8% Alternatives 1% 1% 4% 3% 4% 4% 4% 6% 1% 4% 6% Total, EURbn 17.8 17.5 16.9 17.9 16.5 17.3 17.1 17.8 17.8 16.5 17.1 Fixed income return 0.8% 1.3% 1.5% 0.8% 0.7% 2.3% 1.0% 0.8% 4.0% 5.0% 5.3% Equites return 15.4% 27.0% 6.0% -0.7% -2.0% 1.0% 3.9% 10.9% 55.1% 14.6% 8.0% Total investment return 2.1% 3.5% 1.8% 0.5% 0.4% 2.0% 1.1% 1.6% 7.6% 5.5% 5.7% Fixed income duration, years 2.3 2.3 2.5 2.3 2.3 2.3 2.4 2.3 2.3 2.3 2.3 Fixed income average maturity, years 3.2 3.4 3.7 3.4 3.7 3.5 3.6 3.5 3.2 3.7 3.3 Fixed income running yield 3.9% 3.8% 3.9% 3.9% 3.9% 4.0% 4.0% 4.0% 3.9% 3.9% 3.9% Fixed income mark-to-market yield* 3.6% 3.5% 3.8% 4.1% 4.2% 4.1% 4.7% 4.7% 3.6% 4.2% 4.8% Group investment mix and returns *) Mark-to-market yield excluding Topdanmark until 30 June 2025.
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43 Group fixed income and equities mix Q4/2025 53% 19% 16% 13%Nordics Western Europe North America Emerging markets 28% 15% 12% 9% 9% 6% 6% 3% 3% 9%Sweden, 28% Denmark, 15% Norway, 12% United States, 9% Finland, 9% France, 6% UK, 6% Germany, 3% Netherlands, 3% Others, 9% Value, EURm NOBA 814 Volvo 148 ABB 83 Veidekke 66 Autoliv 63 Telia 59 Nederman Holding 55 Yara International 41 VBG Group 40 Svedbergs Group 38 Total Top 10 1,407 Fixed income Listed equities* Top 10 direct equity investments Hold Co alternative investments EUR 15.4 billion EUR 2.3 billion Value, EURm Nexi 124 The investment in Nexi is reported with a delay of one quarter in Sampo’s accounts. 31% 14% 26% 21% 1% 1% 0% 6%AAA, 31% AA, 14% A, 26% BBB, 21% BB, 1% B, 1% CCC-D, 0% Non-rated, 6% 5 February 2026 *) Exposure-% by regions excluding NOBA
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5 February 2026 44 Net insurance liabilities Q4/2025 Q3/2025 Q2/2025 Q1/2025 Q4/2024 Q3/2024 Q2/2024 Q1/2024 FY 2025 FY 2024 FY 2023 Liability for remaining coverage, net 1,556 1,924 2,167 2,516 1,620 1,961 2,057 2,270 1,556 1,620 1,469 Liability for incurred claims, net 8,728 8,603 8,301 8,100 8,067 8,118 7,860 7,766 8,728 8,067 7,983 - of which from risk adjustment 339 351 353 315 305 335 291 260 339 305 239 Acquisition cash flow asset -12 -12 -16 -16 -20 -12 -10 -8 -12 -20 -18 Net insurance liability 10,272 10,514 10,452 10,601 9,668 10,067 9,907 10,028 10,272 9,668 9,434 LIC per country and durations 2025 year-end LIC, % Duration, years Sweden 20 6.0 Norway 13 3.1 Finland 21 7.8 Denmark 26 3.9 Baltics 2 2.6 UK 18 1.6 Total 100 4.6 End of Q4/2025 discount rates EUR 7 years: 2.94% DKK 4 years: 2.74% SEK 6 years: 3.00% GBP 2 years: 3.90% NOK 3 years: 4.30%
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5 February 2026 45 Key sensitivities EURm Effect on quarterly Combined ratio *) Discount rate ±100 bps ± 65 bps Insurance finance income & expense, net Discount rate +100 bps 325 Non-annuities Discount rate +100 bps 105 Annuities Discount rate +100 bps 215 Insurance finance income & expense, net Discount rate -100 bps -370 Non-annuities Discount rate -100 bps -115 Annuities Discount rate -100 bps -255 Net investment income Interest rates +100 bps -355 Net investment income Interest rates -100 bps 370 Net investment income Spreads +100 bps -355 Net investment income Equities -10% -245 *) Effect from current year Liability for incurred claims, net. CR improvement from increase in rate, CR deterioration from decrease in rate • Loss and combined ratio sensitive to changes in discount rates • Net investment income sensitive to mark-to- market returns on assets • IFIE sensitive to changes in discount rates • Sampo Group discount rate sensitivity driven by long-tailed annuity reserves in EUR and SEK (duration ~ 12 years) • Sensitivities change over time and vary somewhat by quarter The unwind of discounting is expected to be around EUR 60 million in Q1/2026. Quarterly P&L effects, Q4/2025
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46 Solvency II ratio development 176% 185% 210% 182% 177% 180% 174 % 172 % 174 % 100% 120% 140% 160% 180% 200% 220% 2020 2021 2022 2023 2024 Q1/2025 Q2/2025 Q3/2025 Q4/2025 Target range for 2021-2023 (170-190%) Target range for 2024-2026 (150-190%) 5 February 2026
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5 February 2026 47 EURm Q4/2025 Q3/2025 Q2/2025 Q1/2025 Q4/2024 Q3/2024 Q2/2024 Q1/2024 FY 2025 FY 2024 FY 2023 Market risk 2,316 2,201 2,067 2,033 1,974 2,059 1,994 2,057 2,316 1,974 1,920 Insurance risk 1,849 1,847 1,827 1,823 1,734 1,655 1,617 2,055 1,849 1,734 2,027 Counterparty risk 201 185 206 211 139 127 131 218 201 139 200 Operational risk 306 297 296 297 284 295 288 287 306 284 272 Diversification -855 -832 -814 -810 -714 -696 -673 -859 -855 -714 -816 LAC of DT -361 -354 -413 -406 -403 -425 -421 -441 -361 -403 -404 Related undertakings / other 34 33 31 27 25 29 25 22 34 25 18 Solvency capital requirement 3,490 3,376 3,200 3,175 3,040 3,043 2,962 3,338 3,490 3,040 3,217 Tier-1 unrestricted (incl. dividend accrual and buybacks) 4,480 4,235 4,009 4,162 3,839 3,838 3,792 4,429 4,480 3,839 4,324 Tier-1 restricted 300 300 0 21 21 21 22 22 300 21 21 Tier-2 1,199 1,188 1,466 1,458 1,448 1,441 1,360 1,429 1,199 1,448 1,448 Tier-3 80 86 83 60 61 80 121 121 80 61 63 Own funds 6,059 5,809 5,558 5,701 5,368 5,380 5,295 6,000 6,059 5,368 5,856 Solvency II ratio,% 174 172 174 180 177 177 179 180 174 177 182 As of 2025, the reported regulatory Solvency II ratio includes dividend accrual based on the latest regular dividend. For full-year, the actual proposed dividend has been deducted. Buybacks are being deducted from own funds in full when announced. Solvency II SCR and own funds
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5 February 2026 48 Estimated Solvency II ratio sensitivities on market risk factors Q4/2025 Q3/2025 Q2/2025 Q1/2025 Q4/2024 Q3/2024 Q2/2024 Q1/2024 FY 2025 FY 2024 FY 2023 Solvency II ratio 174% 172% 174% 180% 177% 198% 192% 186% 174% 177% 182% Rates -100bps -4%-p -5%-p -5%-p -5%-p -5%-p -5%-p -4%-p -4%-p -4%-p -5%-p -5%-p Rates +100bps +2%-p +4%-p +4%-p +4%-p +3%-p +5%-p +4%-p +3%-p +2%-p +3%-p +5%-p Spreads +100bps -8%-p -7%-p -8%-p -8%-p -9%-p -8%-p -7%-p -7%-p -8%-p -9%-p -6%-p Equity prices -10% +1%-p +1%-p 0%-p 0%-p -1%-p 0%-p 0%-p +1%-p +1%-p -1%-p +1%-p Equity prices -20% +2%-p +2%-p -2%-p -1%-p -4%-p -1%-p -1%-p +1%-p +2%-p -4%-p 0%-p Equity prices -30% +0%-p 0%-p -5%-p -4%-p -8%-p -5%-p -5%-p -1%-p +0%-p -8%-p -3%-p Symmetric adjustment 7.90% 6.92% 6.23% 5.32% 2.86% 4.34% 4.03% 5.25% 7.90 2.86% 1.46% Scenario Symmetric adjustment Equity prices -10% 1.72% Equity prices -20% -4.46% Equity prices -30% -10.00% At the end of Q3/2025, the symmetric adjustment is assumed to have the following values in the equity market scenarios:
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0% 5% 10% 15% 20% 25% 30% 35% 2021 2022 2022 2023 2024 Q1/2025 Q2/2025 Q3/2025 Q4/2025 Hybrid Senior Target (<30%) 49 Financial leverage development 23.8% 5 February 2026 IFRS 17IFRS 4 EURm 2021 2022 (IFRS 4) 2022 (IFRS 17) 2023 2024 Q1/2025 Q2/2025 Q3/2025 Q4/2025 Hybrid debt 2,015 1,983 1,983 1,645 1,642 1,650 1,626 1,611 1,615 Senior debt 2,195 1,306 1,306 959 954 957 792 788 787 Total debt 4,210 3,288 3,288 2,604 2,596 2,606 2,418 2,399 2,402 IFRS equity* 13,464 9,543 10,178 7,687 7,059 7,480 6,840 7,373 7,794 25.6% 24.4% 25.3% 26.9% 25.8% 26.1% *) Excluding Tier 1 debt 24.5% 23.6%
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5 February 2026 50 Outstanding debt instruments Issue date Currency Issued, million Outstanding, million Coupon Maturity date First call date Sampo plc senior bond Feb 2018 EUR 500 313 1.625% 21 Feb 2028 21 Nov 2027 Sampo plc senior bond Aug 2018 NOK 1,000 (EUR 84) 1,000 (EUR 84) 3.100% 7 Sep 2028 - Sampo plc Tier 2 May 2019 EUR 500 500 3.375% 23 May 2049 23 May 2029 Sampo plc senior bond Sep 2018 EUR 500 392 2.250% 27 Sep 2030 27 Jun 2030 Sampo Tier 2 Aug 2020 EUR 1,000 684 2.500% 3 Sep 2052 3 Sep 2032 Sampo RT 1 Sep 2025 EUR 300 300 5.25% Perpetual 24 Mar 2035 If Tier 2 Mar 2018 SEK 1,500 (EUR 139) 1,500 (EUR 139) Stibor 3m + 1.30% 17 Jun 2051 17 Mar 2026 Moody’s Standard & Poor’s Rating Outlook Rating Outlook Sampo plc – Issuer Credit Rating A2 Stable A Stable If P&C Insurance Ltd – Insurance Financial Strength Rating Aa3 Stable AA- Stable If P&C Insurance Holding Ltd (publ) – Issuer Credit Rating - - A Stable Credit Ratings 397 392 139 500 684 300 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Senior Hybrid Debt maturity profile, EURm
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5 February 2026 51 Hold Co (Sampo plc) balance sheet EURm Q4/2025 Q3/2025 Q2/2025 Q1/2025 Q4/2024 Q3/2024 Q2/2024 Q1/2024 FY 2025 FY 2024 FY 2023 Liquidity 881 862 593 608 626 1,169 1,477 1,342 881 626 1,352 Investment assets 2,754 2,584 2,380 2,406 2,408 676 695 979 2,754 2,408 979 Tangible assets 4 4 2 3 3 3 2 2 4 3 2 Fixed income 1,813 1,814 1,814 1,825 1,826 101 100 101 1,813 1,826 101 Equity and private equity 938 767 563 578 580 572 592 876 938 580 876 Equity holdings (subsidiaries) 7,431 7,431 7,431 7,431 7,431 7,618 5,635 5,635 7,431 7,431 5,635 Other assets 56 90 57 113 44 28 28 28 56 44 24 Total assets 11,121 10,967 10,460 10,557 10,508 9,491 7,834 7,985 11,121 10,508 7,990 Long-term senior debt 787 788 792 957 954 954 956 954 787 954 959 Private placements 0 0 0 0 0 0 0 0 0 0 2 Bonds issued 787 788 792 957 954 954 956 954 787 954 957 Subordinated debt 1,178 1,178 1,492 1,491 1,491 1,491 1,490 1,490 1,178 1,491 1,490 Capital 8,947 8,816 8,083 7,952 7,989 6,964 5,291 5,446 8,947 7,989 5,465 Undistributable capital 98 98 98 98 98 98 98 98 98 98 98 Distributable capital 8,849 8,718 7,985 7,853 7,891 6,866 5,193 5,348 8,849 7,891 5,367 Other Liabilities 209 185 94 157 75 82 96 95 209 75 76 Total Liabilities 11,121 10,967 10,460 10,557 10,508 9,491 7,834 7,985 11,121 10,508 7,990 Fixed income from Q4/2024 onwards includes the loan agreement of EUR 1,724 million between Sampo plc and If in connection with the sale of Topdanmark shares to If in November 2024.
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Additional information 5 February 2026 52
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5 February 2026 53 Share count development 2,777 2,734 2,572 2,509 2,691 2,662 2020 2021 2022 2023 2024* 2025 Total share count, million Average number of shares Shares held by the company have been deducted from the total share count and the average number of shares. 1-12/2020 2,776,759,250 1-12/2021 2,771,584,090 1-12/2022 2,651,481,010 1-12/2023 2,529,695,320 1-3/2024 2,508,983,760 1-6/2024 2,508,804,685 1-9/2024 2,514,477,515 1-12/2024 2,560,572,410 1-3/2025 2,691,238,860 1-6/2025 2,691,238,860 1-9/2025 2,687,302,193 1-12/2025 2,668,985,277 Quarterly EPS figures are calculated by deducting the previous quarters’ result from the YTD result.*) 241 million new shares issued for Topdanmark shareholders in 2024.
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5 February 2026 54 Share buybacks development Launch Start End Announced, EURm Executed, EURm 1. programme 1 Oct 2021 4 Oct 2021 25 Mar 2022 750 750 2. programme 30 Mar 2022 31 Mar 2022 17 May 2022 250 228 3. programme 9 Jun 2022 10 Jun 2022 8 Feb 2023 1,000 1,000 4. programme 29 Mar 2023 3 April 2023 1 Aug 2023 400 400 5. programme 17 Jun 2024 18 Jun 2024 29 Nov 2024 475 475 6. programme 6 Aug 2025 7 Aug 2025 30 Oct 2025 200 200 7. Programme 5 Nov 2025 6 Nov 2025 30 Jan 2026 150 150 Shares repurchased EURm Total 2021 42,699,780 380 Total 2022 162,212,895 1,443 Total 2023 62,862,815 555 Total 2024 58,738,450 475 Q1/2025 - - Q2/2025 - - Q3/2025 13,239,620 129 Q4/2025 16,190,716 161 Total 2025 29,430,336 290 Q1/2026* 6,133,698 60 Total since 2021* 362,077,947 3,203 Buybacks by quarterBuyback programmes *) By 30 January 2026
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5 February 2026 55 Geographical mix 2025 and Q4/2025 EURm Sweden Norway Denmark Finland UK Baltic & other Group total Gross written premiums 2,021 2,051 2,276 1,272 2,865 253 10,738 Insurance revenue, net 1,737 1,848 2,052 1,142 2,000 298 9,078 Gross written premiums and insurance revenue include broker revenues. EURm Sweden Norway Denmark Finland UK Baltic & other Group total Gross written premiums 498 437 469 193 622 58 2,277 Insurance revenue, net 440 484 522 288 513 75 2,322 2025 Q4/2025
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5 February 2026 56 Geographical mix by segment 2025 Private Nordic Sweden Norway Denmark Finland UK Total Gross written premiums 1,320 1,126 1,048 668 - 4,183 Insurance revenue, net 1,271 1,043 1,014 666 - 3,995 Private UK Sweden Norway Denmark Finland UK Total Gross written premiums - - - - 2,865 2,865 Insurance revenue, net - - - - 2,000 2,000 Nordic Commercial Sweden Norway Denmark Finland UK Total Gross written premiums 284 697 1,029 381 - 2,391 Insurance revenue, net 276 648 914 363 - 2,201 Baltic and other operations reported a GWP of EUR 253 million and an insurance revenue of EUR 298 million in 2025. Nordic Industrial Sweden Norway Denmark Finland UK Total Gross written premiums 417 228 198 202 - 1,046 Insurance revenue, net 190 157 124 113 - 584 Gross written premiums and insurance revenue include broker revenues.
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5 February 2026 57 Nordic new car sales Number of cars sold (1,000) Q4/2025 Q3/2025 Q2/2025 Q1/2025 Q4/2024 Q3/2024 Q2/2024 Q1/2024 FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 FY 2020 Sweden 69.0 63.1 77.5 63.4 76.1 61.1 72.5 59.8 273.0 269.5 289.7 288.0 301.0 292.0 Norway 66.2 37.8 43.9 31.6 36.9 30.5 39.0 22.3 179.6 128.7 127.0 174.3 176.3 141.4 Denmark 50.5 44.5 52.1 37.4 46.8 39.9 49.4 36.9 184.6 173.1 172.8 148.3 185.3 198.2 Finland 17.9 16.7 20.6 16.7 18.6 16.3 20.7 18.5 71.9 74.1 87.5 81.7 98.5 96.4 Nordic total 203.7 162.1 194.1 149.2 178.4 147.9 181.6 137.4 709.0 645.3 676.9 692.3 761.1 728.0 Growth (year-on-year) Q4/2025 Q3/2025 Q2/2025 Q1/2025 Q4/2024 Q3/2024 Q2/2024 Q1/2024 FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 FY 2020 Sweden -9.4% 3.2% 7.0% 6.1% -4.5% -11.8% -6.3% -5.5% 1.3% -7.0% 0.6% -4.3% 3.1% -18.0% Norway 79.5% 23.8% 12.6% 42.0% 17.3% 5.5% 3.0% -22.4% 39.5% 1.4% -27.2% -1.1% 24.7% -0.7% Denmark 7.9% 11.5% 5.5% 1.4% -4.0% 0.6% 11.4% -7.6% 6.7% 0.2% 16.5% -20.0% -6.5% -12.2% Finland -3.4% 2.1% -0.7% -9.5% -1.9% -24.7% -20.1% -12.0% -3.0% -15.4% 7.1% -17.1% 2.2% -15.6% Nordic total 14.2% 9.6% 6.9% 8.5% -0.3% -7.3% -2.1% -10.1% 9.9% -4.7% -2.2% -9.0% 4.5% -13.2%
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Sampo plc Fabianinkatu 21 00130 Helsinki Finland www.sampo.com @Sampo_plc sampo-plc sampo_oyj Phone: +358 10 516 0100 Business ID: 0142213-3 585 February 2026