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2 N O V E M B E R 2 0 2 6 9M - 2 0 2 6 R E S U LT S PRESENTATION TO FINANCIAL ANALYSTS
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2 9M-2026 RESULTS | PRESENTATION TO FINANCIAL ANALYSTS | 2 NOVEMBER 2026 9M-2026 RESULTS: NET INCOME AT €155.5M – ROATE AT 10.7% Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by Wiztrust. You can check the authenticity on the website www.wiztrust.com. 9M - 2 0 2 6 H I G H L I G H T S 9M - 2 0 2 6 R E S U L T S K E Y TA K E - AW AY S & O U T L O O K A P P E N D I C E S 01 02 03 04
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PART 1 9M-2026 HIGHLIGHTS
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9M-2026 RESULTS | PRESENTATION TO FINANCIAL ANALYSTS | 2 NOVEMBER 20264 COFACE REPORTS €155.5M NET PROFIT IN 9M-2026 OF WHICH €47.7M IN Q3-2026 Total revenue reached €1,413m in 9M-26, up +1.7% at constant FX and perimeter › Insurance revenue rebounding in Q3-26 at +2.5% at constant FX. Client activity remains positive (+2.5%) › Client retention close to record high (93.1%) ; pricing still negative but above historical average (-1.3%) › Business Information growing again double-digit (total perimeter, including fast growing non-consolidated entities at +11.2% and +15.3% with Cedar Rose acquisition). Debt Collection is up +28.1%. Factoring up +7.3% › Reported Q3-26 revenue growth at +5.4% with all activities contributing 9M-26 net loss ratio at 37.7%, improved by -1.9 ppt. Net combined ratio at 72.4% › Gross loss ratio at 36.6%, improved by -0.3 ppt, with stable opening year reserving and still high reserve releases › Net cost ratio increased by 2.4 ppts at 34.7% reflecting continued dynamic investments in line with strategy Net income (group share) at €155.5m of which €47.7m in Q3-26. Annualised RoATE1 at 10.7% Appointed John Gaines to the Board of Directors Coface anticipates that the combination of higher commodity prices and interest rates will continue to put pressure on corporates’ solvency 1 RoATE = Return on Average Tangible equity
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9M-2026 RESULTS | PRESENTATION TO FINANCIAL ANALYSTS | 2 NOVEMBER 20265 SERVICES INVESTMENTS CONTINUE TO PAY OFF › Continuing strong momentum in services: +10.0% YTD and +12.4% in Q3 at constant FX and perimeter › German factoring well positioned in a lower liquidity environment › Services revenues on track to reach 12% of insurance revenues by year end COFACE’S STRATEGY POSITIONS IT WELL IN A HIGHER INTEREST RATES WORLD Business Information Total Revenue (in €m) NAVIGATING HIGHER INTEREST RATES Coface’s exposure to France is limited › France is 14% of revenues and 10% of exposures › Around 5% of investment portfolio in French sovereign bonds › Upward pressure on spread Q3-26 has seen a sharp increase in large cases for credit insurance: › The phenomenon is widespread by sector and geographies › Since summer 2026, number of large claims for Coface is increasing › Coface continues to drive increased prevention actions around more fragile corporates Higher interest rates leads to unrealized losses and short term net investment income: › Lower investment portfolio › Higher cost of IFE › Temporary impact on solvency ratio in buy and hold strategy
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PART 2 9M-2026 RESULTS
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9M-2026 RESULTS | PRESENTATION TO FINANCIAL ANALYSTS | 2 NOVEMBER 20267 TOTAL REVENUE UP +1.7% WITH OTHER REVENUE UP +10.0% Total revenue up +1.7% vs. 9M-25 at constant FX and perimeter › Insurance revenue* up +0.9% at constant FX but up +2.5% in Q3-26 › Other revenue up +10.0% vs. 9M-25 at constant FX and perimeter with: › Business Information total perimeter sales at +11.2%, and +15.3% with Cedar Rose › Third party Debt Collection up by +28.1% at €12.2m › Factoring is positive at +7.3% with a strong Q3-26 (+14.7%) driven by new business and volume growth › Insurance fees grow in line with insurance revenue, up by +1.2% at constant FX V% V% ex. FX In €m Insurance Revenue (IR) Insurance related fees Other revenue Ins. related fees / IR ratio * Including Bonding and Single Risk 119 135 139 143 1,128 1,136 1,387 1,413 9M-25 9M-26 1.9% 1.7% 12.3% 12.6% 9M-25 9M-26
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9M-2026 RESULTS | PRESENTATION TO FINANCIAL ANALYSTS | 2 NOVEMBER 20268 GERMANY AND HIGHER INFLATION DRIVE SOME TURNOVER IMPROVEMENT V% V% ex. FX Solid growth in Specialties but low client activity Factoring (+10.9%) and Services (+18.7%) growing. Better client activity and strong new business Low client activity in Poland for insurance and factoring Resilient growth driven by Gulf countries and Services. Recovery in client activity Significant underlying growth with high new business, despite some unfavorable base effects Slowdown in client activity, compensated by strong new business Improving client activity and commercial momentum. Still neg. FX Total revenue by region, in € m Northern Europe Western Europe Central Europe Mediterranean & Africa North America Latin America Asia Pacific 287 289 9M-25 9M-26 275 285 9M-25 9M-26 126 126 9M-25 9M-26 410 423 9M-25 9M-26 128 126 9M-25 9M-26 98 98 9M-25 9M-26 62 66 9M-25 9M-26 0.8% (0.5)% 3.5% 3.5% 0.3% 0.5% 3.0% 2.4% (1.7)% 0.9% (0.4)% 2.7% 7.6% 1.5%
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9M-2026 RESULTS | PRESENTATION TO FINANCIAL ANALYSTS | 2 NOVEMBER 20269 RECORD NEW PRODUCTION, STRONG RETENTION AND SOME ACTIVITY IMPROVEMENT New production reaches new post Covid high at €105m with increased demand and growth investments New production* Retention rate* Price effect* Volume effect* Retention close to record highs in a still competitive market with active risk prevention Pricing down by -1.3% slightly better than historical average as risks rise Client activity slightly positive amid still high geopolitical uncertainty *Portfolio as of September 30, 2026 ; New production: in €m 89 96 102 105 9M-23 9M-24 9M-25 9M-26 93.9% 92.7% 93.5% 93.1% 9M-23 9M-24 9M-25 9M-26 (2.0)% (1.4)% (1.8)% (1.3)% 9M-23 9M-24 9M-25 9M-26 2.4% 0.1% 2.1% 2.5% 9M-23 9M-24 9M-25 9M-26
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9M-2026 RESULTS | PRESENTATION TO FINANCIAL ANALYSTS | 2 NOVEMBER 202610 STABLE LOSS LEVELS DESPITE RISING LARGE CLAIMS TREND › Claims activity is back to historical levels: › Number of claims slightly down from 9M-19 level (-0.9%) while claims amount is up 10.8% › Higher severity in Q3-26 with several uncorrelated large files › No change in reserving policy › Opening year loss ratio at 79.2% undiscounted to account for political and economic uncertainty › Reserve releases remain high, reflecting favorable past claims experience Loss ratio before reinsurance and including claims handling expenses, in % Loss ratio before reinsurance and excluding claims handling expenses, in % * Undiscounted 36.9 36.6 9M-25 9M-26 38.7 36.9 35.1 39.2 36.3 37.1 36.5 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 72.9 36.1 75.2 35.5 75.6 33.7 75.5 33.5 (36.8) (45.3) (41.9) (42.0) 76.6* 78.4* 78.0* 79.2*
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9M-2026 RESULTS | PRESENTATION TO FINANCIAL ANALYSTS | 2 NOVEMBER 202611 LOSS RATIOS REMAIN UNDER CONTROL IN ALL REGIONS Group Northern Europe Western Europe Central Europe North America Latin America Asia Pacific Mediterranean & Africa * % of Total revenue by region Loss ratio before reinsurance, including claims handling expenses – in % 20%* 21%* 9%* 29%* 7%* 10%* 4%* 35.8 33.4 37.5 36.6 FY-23 FY-24 FY-25 9M-26 27.5 27.3 42.2 33.2 FY-23 FY-24 FY-25 9M-26 82.6 18.3 40.4 43.7 FY-23 FY-24 FY-25 9M-26 19.9 38.4 40.7 24.8 FY-23 FY-24 FY-25 9M-26 38.3 31.4 30.3 37.4 FY-23 FY-24 FY-25 9M-26 27.7 37.5 34.7 32.3 FY-23 FY-24 FY-25 9M-26 24.0 32.2 43.0 44.9 FY-23 FY-24 FY-25 9M-26 40.1 36.4 39.7 39.3 FY-23 FY-24 FY-25 9M-26
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9M-2026 RESULTS | PRESENTATION TO FINANCIAL ANALYSTS | 2 NOVEMBER 202612 RISKS UNDER CONTROL, SMALLER REGIONS MORE VOLATILE Group Central Europe Latin America Asia Pacific Mediterranean & Africa * % of Total revenue by region Loss ratio before reinsurance (by quarter), including claims handling expenses – in % Northern Europe Western Europe North America 20%* 21%* 9%* 29%* 7%* 10%* 4%* 38.7 36.9 35.1 39.2 36.3 37.1 36.5 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 49.6 31.6 46.5 41.3 41.7 27.8 30.9 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 107.0 16.6 -22.5 58.0 -14.2 32.6 110.8 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 33.8 42.7 50.3 35.2 34.8 22.2 19.0 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 25.3 41.0 19.7 35.7 34.6 42.4 34.8 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 36.4 34.3 35.5 32.6 35.5 31.4 29.8 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 51.8 34.1 40.1 45.6 47.3 37.2 50.0 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 32.1 39.6 47.0 40.5 41.5 44.0 32.3 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26
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9M-2026 RESULTS | PRESENTATION TO FINANCIAL ANALYSTS | 2 NOVEMBER 202613 CONTINUED INVESTMENT DRIVES COST RATIO UP V% V% ex. FX In €m External costs (commissions) Internal costs › Q3-26 cost increase at 5.3% at constant FX. Investment continues in TCI, services and data technology › Continued focus on automation, AI and process productivity › 9M-26 gross cost ratio increased by 1.4 ppt with investments up 2.4 ppts (1.4 ppt related to services) growing more than premiums partly offset by services growth(‐1.0 ppt) Cost ratio before reinsurance, in % 189 194 195 203 205 46 46 48 48 48 235 241 242 251 253 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 7.7% 5.3% 37.0 36.3 35.2 37.4 37.9 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 9M-2025 Inflation / Premium Investments Services TO 9M-2026 0.1 ppt35.4% 36.8% (1.0) ppt 2.4 ppts Gross cost ratio 9M-2025 to 9M-2026
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9M-2026 RESULTS | PRESENTATION TO FINANCIAL ANALYSTS | 2 NOVEMBER 202614 › Premium cession rate at 27.7% in line with stable cession › Claims cession rate at 25.7% with limited impact from non- proportional reinsurance › Commissions received from reinsurers remain almost stable at a high level REINSURANCE REFLECTS PERSISTING LOW LOSS RATIO 9M-25 9M-26 Insurance revenue 1,128.5 1,135.6 Net earned premiums 815.5 820.8 Gross claims expenses (416.6) (416.1) Net claims expenses (322.8) (309.1) Premium cession rate Claims cession rate 27.7% 27.7% 22.5% 25.7% 9M-25 9M-26 V% Insurance result before reinsurance 288.5 288.4 (0)% Insurance result after reinsurance 205.2 214.1 +4% Reinsurance result (11)% (83.3) (74.3)
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9M-2026 RESULTS | PRESENTATION TO FINANCIAL ANALYSTS | 2 NOVEMBER 202615 NET COMBINED RATIO INCREASED AT 72.4% WITH Q3-26 CLOSE TO MID CYCLE › Net combined ratio at 72.4%, slightly up vs 9M-25 but better than through the cycle targets › Cost ratio up 2.4 ppts vs. 9M-25 with good cost discipline, continued investments and 1.9% revenue growth › 9M-26 net loss ratio improved by -1.9 ppt in a more difficult economic environment › Q3-26 net combined ratio up by 1.5 ppt compared to previous quarter close to mid-cycle levels In % Net cost ratio Net combined ratio Net loss ratio In % Net cost ratio Net combined ratio Net loss ratio 39.6 37.7 32.3 34.7 71.9 72.4 9M-25 9M-26 +0.5 ppt +1.5 ppt 38.5 42.4 37.6 37.2 38.3 34.6 34.2 32.5 35.2 36.3 73.1 76.6 70.0 72.4 74.6 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26
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9M-2026 RESULTS | PRESENTATION TO FINANCIAL ANALYSTS | 2 NOVEMBER 202616 FINANCIAL PORTFOLIO: STABLE UNDERLYING INCOME AT HIGHER LEVEL › Recurring income from investment portfolio at €79.1m reflects stable yields environment. New money invested at 4.0% › Investment income includes a €4.3m FX gain and -€11.0m hyperinflation accounting (Turkey) › Insurance Finance Expenses at -€39.5m including an FX loss of -€11.7m › Net investment income net of IFE is down -€17.0m at €27.6m Keeping a diversified strategy * Excludes investments in non-consolidated subsidiaries ** Excludes investments in non-consolidated subsidiaries, FX and investment management charges *** This represents the cumulative impact of realized gains and losses, impairments and impairments release, as well as equities & interest rate derivatives Bonds 78% Loans, Deposit & other financial 15% Equities 4% Investment Real Estate 2% €m 9M-25 9M-26 Income from investment portfolio without gains on sales** 77.7 79.1 FVPL and gains on sales and impairement, net of hedging*** 6.4 6.4 FX effect (29.4) (6.7) Other (9.3) (11.7) Net investment income Insurance Finance Expenses (0.9) (39.5) Accounting yield on average investment portfolio 2.6% 2.7% Accounting yield on average investment portfolio without gains and mark-to-market 2.4% 2.5% Accounting yield at purchase on average bond portfolio 2.7% 3.3% 45.4 67.0 Total €3.17bn*
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9M-2026 RESULTS | PRESENTATION TO FINANCIAL ANALYSTS | 2 NOVEMBER 202617 9M-26 NET INCOME AT €155.5M OF WHICH €47.7M IN Q3-26 › Net earned premiums up +0.7% at €820.8m › Operating income down -7.2% › Tax rate at 26% (vs. 23% in 9M-25) › Net income down -11.8% at €155.5m › Book value per share at €14.3. Tangible book value at €12.5 per share Income statement items - in €m 9M-25 9M-26 Current operating income 266.7 247.8 Other operating income and expenses (5.2) (5.0) Operating income 261.6 242.8 Finance costs (31.0) (31.3) Income tax (53.8) (55.5) Tax rate 23% 26% Non-controlling interests (0.5) (0.6) Net income (group share) 176.3 155.5
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9M-2026 RESULTS | PRESENTATION TO FINANCIAL ANALYSTS | 2 NOVEMBER 202618 ROATE STANDS AT 10.7%, DOWN BY -0.7 PPT Change in equity In €m * Annualised RoATE Return on average tangible equity (RoATE)* (186.9) 155.5 (70.9) 30.4 2,141.1 2,213.0 IFRS Equity attributable to owners of the parent Dec. 31, 2025 Distribution to shareholders Net income impact Revaluation reserve (financial instruments) Treasury shares, currency translation differences & others IFRS Equity attributable to owners of the parent Septembre 30, 2026 10.7% 11.4% (1.6) ppt 1.2 ppt (0.3) ppt RoATE 31.12.25 Technical result Financial result Tax and others RoATE 30.09.26
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PART 3 KEY TAKE-AWAYS & OUTLOOK
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9M-2026 RESULTS | PRESENTATION TO FINANCIAL ANALYSTS | 2 NOVEMBER 202620 KEY TAKE-AWAYS & OUTLOOK Coface delivers another good quarter with €47.7M net profit in a tougher environment › Q3-26 revenues are up +5.4% on a reported basis with non-insurance up +16.4% including Cedar Rose acquisition › Net production on track to reach all time high on high new business and close to record retention › Net combined ratio at 72.4% in 9M-26, better than through the cycle targets Rising interest rates fully support investment strategy › Higher interest rates put pressure on more fragile corporates, increasing number of large claims › Share of non risk bearing service revenues went up from 8% to 12% of total in 4 years › Well-diversified exposure by geographies limits exposure to France Against a challenging macroeconomic backdrop, Coface demonstrates resilience, reinforces its preventive actions, and continues to invest in data and technology while expecting bankruptcies to continue to rise
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PART 4 APPENDICES
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9M-2026 RESULTS | PRESENTATION TO FINANCIAL ANALYSTS | 2 NOVEMBER 202622 KEY FIGURES (1/3) QUARTERLY AND CUMULATED FIGURES * Also excludes scope impact Income statement items in €m - Quarterly figures Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 % % ex. FX* Insurance revenue 382.9 377.1 368.5 370.2 369.8 384.2 381.6 +3.6% +2.5% Other revenues 90.3 86.3 81.4 90.6 95.3 89.9 92.5 +13.6% +8.1% REVENUE 473.2 463.4 449.9 460.7 465.1 474.2 474.1 +5.4% +3.6% UNDERWRITING INCOME (LOSS) AFTER REINSURANCE 85.4 68.2 68.6 60.1 77.6 74.9 67.7 (1.3)% (4.6)% Investment income, net of management expenses 10.4 15.9 19.1 20.4 22.4 25.3 19.3 +1.1% +0.1% Insurance Finance Expenses (4.1) 10.8 (7.6) (8.3) (15.8) (13.3) (10.4) +35.8% +39.0% CURRENT OPERATING INCOME 91.6 95.0 80.1 72.2 84.2 86.9 76.7 (4.3)% (7.6)% Other operating income / expenses (0.4) (0.3) (4.5) (1.3) (1.4) (1.0) (2.6) (42.3)% (40.7)% OPERATING INCOME 91.2 94.7 75.6 70.9 82.8 85.9 74.1 (2.0)% (5.6)% NET INCOME 62.1 62.1 52.1 45.8 53.6 54.2 47.7 (8.4)% (12.7)% Income tax rate 23.0% 26.3% 19.9% 24.8% 25.9% 27.9% 24.7% + 4,8 ppts Income statement items in €m - Cumulated figures Q1-25 H1-25 9M-25 FY-25 Q1-26 H1-26 9M-26 % % ex. FX* Insurance revenue 382.9 760.0 1,128.5 1,498.7 369.8 754.0 1,135.6 +0.6% +0.9% Other revenues 90.3 176.6 258.0 348.6 95.3 185.3 277.7 +7.6% +5.3% REVENUE 473.2 936.6 1,386.5 1,847.3 465.1 939.3 1,413.3 +1.9% +1.7% UNDERWRITING INCOME (LOSS) AFTER REINSURANCE 85.4 153.6 222.2 282.3 77.6 152.5 220.2 (0.9)% (1.7)% Investment income, net of management expenses 10.4 26.3 45.4 65.8 22.4 47.7 67.0 +47.5% +44.5% Insurance Finance Expenses (4.1) 6.7 (0.9) (9.2) (15.8) (29.1) (39.5) +4097.9% +4255.4% CURRENT OPERATING INCOME 91.6 186.6 266.7 338.9 84.2 171.1 247.8 (7.1)% (8.8)% Other operating income / expenses (0.4) (0.6) (5.2) (6.4) (1.4) (2.4) (5.0) (3.4)% +0.4% OPERATING INCOME 91.2 186.0 261.6 332.5 82.8 168.7 242.8 (7.2)% (9.0)% NET INCOME 62.1 124.2 176.3 222.0 53.6 107.8 155.5 (11.8)% (14.3)% Income tax rate 23.0% 24.7% 23.3% 23.6% 25.9% 26.9% 26.2% + 2,9 ppts
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9M-2026 RESULTS | PRESENTATION TO FINANCIAL ANALYSTS | 2 NOVEMBER 202623 KEY FIGURES (2/3) DOWNLOAD OUR .XLS FINANCIAL SUPPLEMENT www.coface.com/investors/financial-results-and-reports ***Also excludes scope impact * Does not include unconsolidated scope ** Including Bonding & Single Risk * REVENUE BY ACTIVITY: QUARTERLY AND CUMULATED FIGURES Total revenue by quarter - in €m Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 % V% ex. FX*** Insurance** 382.9 377.1 368.5 370.2 369.8 384.2 381.6 +3.6% +2.5% Insurance fees 51.0 46.0 41.7 43.8 51.4 45.2 46.2 +10.8% +4.2% Non-insurance activities 39.3 40.3 39.8 46.8 43.9 44.7 46.3 +16.4% +12.4% Factoring 17.6 18.5 18.0 17.8 18.0 19.4 20.6 +14.4% +14.7% Information services 18.5 17.9 18.0 25.5 21.7 21.1 21.9 +21.6% +8.8% Debt collection 3.2 3.9 3.7 3.4 4.2 4.2 3.8 +1.0% +21.0% Total revenue 473.2 463.4 449.9 460.7 465.1 474.2 474.1 +5.4% +3.6% Total revenue Cumulated - in €m Q1-25 H1-25 9M-25 FY-25 Q1-26 H1-26 9M-26 % V% ex. FX*** Insurance** 382.9 760.0 1,128.5 1,498.7 369.8 754.0 1,135.6 +0.6% +0.9% Insurance fees 51.0 97.0 138.6 182.4 51.4 96.7 142.8 +3.0% +1.2% Non-insurance activities 39.3 79.6 119.4 166.2 43.9 88.6 134.9 +13.0% +10.0% Factoring 17.6 36.1 54.1 71.9 18.0 37.3 57.9 +7.1% +7.3% Information services 18.5 36.4 54.4 80.0 21.7 42.8 64.8 +19.0% +9.6% Debt collection 3.2 7.2 10.9 14.3 4.2 8.4 12.2 +11.8% +28.1% Total revenue 473.2 936.6 1,386.5 1,847.3 465.1 939.3 1,413.3 +1.9% +1.7%
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9M-2026 RESULTS | PRESENTATION TO FINANCIAL ANALYSTS | 2 NOVEMBER 202624 KEY FIGURES (3/3) DOWNLOAD OUR .XLS FINANCIAL SUPPLEMENT www.coface.com/investors/financial-results-and-reports REVENUE BY REGION: QUARTERLY AND CUMULATED FIGURES * Also excludes scope impact Total revenue by quarter - in €m Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 % ex. FX* Northern Europe 97.0 88.2 90.2 89.4 99.0 91.0 95.0 +5.3% Western Europe 96.0 95.7 95.3 93.3 93.7 100.2 95.4 (1.7)% Central Europe 42.3 41.6 42.0 42.6 42.2 41.3 42.8 +2.4% Mediterranean & Africa 143.4 136.8 130.1 144.4 142.7 143.6 136.4 +3.4% North America 43.5 44.2 40.3 39.6 39.0 43.3 43.4 +5.8% Latin America 20.4 21.0 20.1 19.8 19.0 23.2 24.0 +2.1% Asia Pacific 30.7 35.8 32.0 31.6 29.6 31.5 37.1 +15.1% Total revenue 473.2 463.4 449.9 460.7 465.1 474.2 474.1 +3.6% Total revenue cumulated - in €m Q1-25 H1-25 9M-25 FY-25 Q1-26 H1-26 9M-26 % ex. FX* Northern Europe 97.0 185.2 275.4 364.8 99.0 190.0 285.0 +3.5% Western Europe 96.0 191.6 287.0 380.3 93.7 193.9 289.3 (0.5)% Central Europe 42.3 83.9 125.9 168.5 42.2 83.6 126.3 +0.5% Mediterranean & Africa 143.4 280.2 410.3 554.7 142.7 286.3 422.6 +2.4% North America 43.5 87.7 128.0 167.6 39.0 82.3 125.7 +0.9% Latin America 20.4 41.5 61.5 81.3 19.0 42.2 66.2 +1.5% Asia Pacific 30.7 66.5 98.5 130.1 29.6 61.0 98.1 +2.7% Total Group 473.2 936.6 1,386.5 1,847.3 465.1 939.3 1,413.3 +1.7%
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9M-2026 RESULTS | PRESENTATION TO FINANCIAL ANALYSTS | 2 NOVEMBER 202625 DOWNLOAD OUR .XLS FINANCIAL SUPPLEMENT www.coface.com/investors/financial-results-and-reports COMBINED RATIO CALCULATION › Combined ratio before reinsurance › Combined ratio after reinsurance loss ratio before reinsurance (B) (A)+ cost ratio before reinsurance (C) (A) loss ratio after reinsurance (E) (D)+ cost ratio after reinsurance (F) (D) In €k 9M-25 9M-26 Earned Premiums Insurance revenue [A] 1,128,494 1,135,628 Ceded premiums (313,043) (314,843) Net earned premiums [D] 815,451 820,785 Claims expenses Claims expenses [B] (416,583) (416,092) Loss component (228) (362) Ceded claims 93,706 106,873 Ceded loss component 47 108 Net claims expenses [E] (322,830) (309,110) Operating expenses Operating expenses (664,577) (702,896) Employee profit sharing sharing and incentive plans 7,016 6,650 Other revenue 258,044 277,717 Operating expenses, net of revenues from other services before reinsurance [C] (399,517) (418,528) Commissions received from reinsurers 136,022 133,577 Operating expenses, net of revenues from other services after reinsurance [F] (263,495) (284,951) Ratios 9M-25 9M-26 Loss ratio before reinsurance 36.9% 36.6% Loss ratio after reinsurance 39.6% 37.5% Cost ratio before reinsurance 35.4% 36.8% Cost ratio after reinsurance 32.3% 34.8% Combined ratio before reinsurance 72.3% 73.5% Combined ratio after reinsurance 71.9% 72.4%
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9M-2026 RESULTS | PRESENTATION TO FINANCIAL ANALYSTS | 2 NOVEMBER 202626 9M-2026 RESULTS VS. CONSENSUS in M€ # of replies Consensus Q3-2026 Comment Total revenue 4 464 474 +10.1 Insurance Revenue 4 379 382 +2.6 Net Earned Premiums 4 274 276 +1.9 NEP/IR 4 72.3% 72.3% +0.0 ppt Stable cession rate Net underwriting income 4 68 68 (0.3) In line with expectations Net Investment Income 4 23 19 (3.7) Slightly negative FX Insurance Financial Expense 4 (13) (10) +2.6 Higher interest rates Current operating income 4 78 77 (1.3) In line with expectations Other operating & Restructuring charges 4 (1) (3) (1.6) - Operating Income 4 77 74 (2.9) Some restructuring charges Net income 4 48 48 (0.3) In line with expectations Net Loss Ratio (%) 4 39.0% 38.3% (0.7) ppt Slightly better underwriting Net Cost Ratio (%) 4 35.4% 36.3% +0.9 ppt Continued investments Net Combined Ratio (%) 4 74.4% 74.6% +0.2 ppt In line with expectations Spread Slightly better client activity Good retention and new business Positive FX
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9M-2026 RESULTS | PRESENTATION TO FINANCIAL ANALYSTS | 2 NOVEMBER 202627 FINANCIAL CALENDAR & INVESTOR RELATIONS CONTACTS Thomas JACQUET Head of Investor Relations & Rating Agencies thomas.jacquet@coface.com +33 (0)1 49 02 12 58 Rina ANDRIAMIADANTSOA Financial Communication Manager rina.andriamiadantsoa@coface.com +33 (0)1 49 02 15 85 I R C o n t a c t : i n v e s t o r s @ c o f a c e . c o m O w n s h a r e s t r a n s a c t i o n s C a l e n d a r C o f a c e i s s c h e d u l e d t o a t t e n d t h e f o l l o w i n g i n v e s t o r c o n f e r e n c e s & r o a d s h o w s Next Event Date FY-26 Results February 18, 2027 (after market close) Q1-27 Results May 10, 2027 (after market close) 2027 Annual shareholders meeting May 19, 2027 H1-27 Results August 2, 2027 (after market close) 9M-27 Results November 8, 2027 (after market close) Next Event Date BNP Paribas Exane 9th Midcap CEO Conference November 17, 2026 - Paris CIC CIB Forum December 9, 2026 - Paris ODDO BHF Forum January 8-9, 2027 - Lyon CITI European Insurance Conference January 15, 2027 - Virtual TOTAL (in shares) % Total of # Shares Voting rights 30/09/2026 222,174 444,641 0 666,815 0.44% 149,512,977 Date Liquidity Agreement LTIP Buy-back (cancellation) Own shares transactions
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9M-2026 RESULTS | PRESENTATION TO FINANCIAL ANALYSTS | 2 NOVEMBER 202628 IMPORTANT LEGAL INFORMATION IMPORTANT NOTICE: This presentation has been prepared exclusively for the purpose of the disclosure of Coface Group’s results for the period ending 30 September 2026. This presentation includes only summary information and does not purport to be comprehensive. The Coface Group takes no responsibility for the use of these materials by any person. The information contained in this presentation has not been subject to independent verification. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. None of the Coface Group, its affiliates or its advisors, nor any representatives of such persons, shall have any liability whatsoever for any loss arising from any use of this document or its contents or otherwise arising in connection with this document or any other information or material discussed. Participants should read the interim financial report for the period ending 30 June 2026 and complete this information with the Universal Registration Document for the year 2025. The Universal Registration Document for 2025 was registered by the Autorité des marchés financiers (“AMF”) on 2 April 2026 under the number D26-0218. These documents all together present a detailed description of the Coface Group, its business, strategy, financial condition, results of operations and risk factors. This presentation contains certain forward-looking statements. Such forward looking statements in this presentation are for illustrative purposes only. Forward- looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. The forward-looking statements are based on Coface Group’s current beliefs, assumptions and expectations of its future performance, taking into account all information currently available. The Coface Group is under no obligation and does not undertake to provide updates of these forward-looking statements and information to reflect events that occur or circumstances that arise after the date of this document. Forward-looking information and statements are not guarantees of future performance and are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Coface Group. Actual results could differ materially from those expressed in, or implied or projected by, forward-looking information and statements. These risks and uncertainties include those discussed or identified under Chapter 5 “Main risk factors and their management within the Group” (Chapitre 5 “Principaux facteurs de risque et leur gestion au seins du Groupe”) in the Universal Registration Document. This presentation contains certain information that has not been prepared in accordance with International Financial Reporting Standards (“IFRS”). This information has important limitations as an analytical tool and should not be considered in isolation or as a substitute for analysis of our results as reported under IFRS. More comprehensive information about the Coface Group may be obtained on its Internet website (http://www.coface.com/Investors). This document does not constitute an offer to sell, or a solicitation of an offer to buy COFACE SA securities in any jurisdiction.