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Building a Safer Future Triglav Group H1 2026 Results Investor Presentation triglav.eu August 2026 Triglav is the highest mountain in Slovenia and the highest peak of the Julian Alps (2,864 meters/9,396 ft)
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 Disclaimer The information, statements or data contained here in have been prepared by Triglav corporate officers. Zavarovalnica Triglav, d.d., or any member of Triglav Group, or any Zavarovalnica Triglav employee or representative accepts no responsibility for the information, statements or data contained herein or omitted here from and will not be liable to any third party for any reason whatsoever relating to the information, statements or data contained herein or omitted here from. Such information, statements or data may not be prepared according to the same standards and requirements than the information, statements or data included in Triglav’s own reports and press releases are prepared to, and accordingly the level of information and materiality and nature of the disclosures may be different. Undue reliance should not be placed on the information, statements or data contained herein because they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results to differ materially from those expressed or implied in such information, statements or data. Moreover, the information, statements and data contained herein have not been, and will not be, updated or supplemented with new or additional information, statements or data. 2
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Agenda 1. H1 2026 Highlights 2. H1 2026 Results 3. Outlook
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Stable and Successful Business Performance in H1 2026 H1 2026 operations ▪ Higher business volumes and strong investment results offset by elevated claims activity, including higher Nat CAT losses ▪ Strong underwriting profitability, with combined ratio of 93.9% ▪ EBT reached €105.2m (-4% YoY); full-year earnings guidance reaffirmed ▪ Robust capital position, with estimated solvency ratio of 207% Other highlights ▪ Dividend per share of €3.00, in line with the dividend policy ▪ In July 2026, Triglav signed agreement to acquire 49% stake in one of Croatia’s leading private healthcare providers (Arsano Medical Group), supporting its health ecosystem strategy ▪ In July 2026, S&P Global affirmed „A+“ credit rating with stable outlook, anchor raised to „a+“ 4
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 H1 2026 Key Financials and KPIs TOTAL BUSINESS VOLUME (in €m) EARNINGS BEFORE TAX (in €m) COMBINED RATIO (in %) NEW BUSINESS MARGIN LIFE ▪ Growth in most business segments ▪ Strong growth in Non-life (+21% YoY), incl. intl. insurance (+124% YoY) ▪ GWP: €1,155.1m (+13% YoY) ▪ All segments profitable except Health ▪ Higher business volumes and strong investment results, partly offset by higher claims, incl. CAT losses (net impact of €27.8m) ▪ Net earnings: €85.7m (-6% YoY) ▪ Expense ratio -2.3 pp as revenue growth outpaced cost growth ▪ Net claims ratio +8.1 pp due to higher CAT ratio and changes in international insurance portfolio ▪ We continue to write profitable new business ▪ New CSM/Total CSM (Life): 7.6% (+0.5 p.p. YoY) H1 2026 Highlights / H1 2026 Results / Outlook H1 2025 H1 2026 12.2% 13.9% +1.6 p.p. 26.5 61.7 H1 2025 24.2 69.7 H1 2026 88.2 93.9 +5.7 p.p. Expense ratio Net claims ratio H1 2025 H1 2026 109.6 105.2 -4% 1,042.8 22.2 H1 2025 1,056.7 141.9 H1 2026 1,065.0 1,198.7 +13% CoR adj: 90.8% w/o new Italian business CAT ratio 1.7% CAT ratio 2.8% Italian business (Prima) +1% w/o new Italian business 5
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 Robust Financial Stability and Strong Capital Base 6 Equity (in €m) Solvency Ratio Risk Profile Equity increased, driven by net profit (€85.7m), partly offset by dividends (€68.2m) and negative OCI (€2.7m) Majority of capital is Tier 1 eligible. Capital management centralised at Group level (capital concentration at parent company). Risk profile largely unchanged vs. 2025 YE, with slight increase in operational risk and decrease in underwriting risk 31 Dec 2025 30 Jun 2026 1,078.1 1,092.9 +1% 55% 57% 57% 56% 25% 25% 24% 23% 8% 6% 7% 7% 7% 7% 7%2%3% 2023 2%3% 2024 2%3% 2025 10% 3%1% H1 2026 Estimate Underwriting risk Market risk Credit risk Operational risk Risk comp. (oth. fin. sectors) Risk of residual companies 0 50 100 150 200 250 200% 2023 219% 2024 206% 2025 207% H1 2026 Estimate Target range H1 2026 Highlights / H1 2026 Results / Outlook
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 A+ / Stable (July 2026) Business risk profile: Strong Financial risk profile: Very strong Raised anchor to „a+“ A / Stable (October 2025) Financial Strength Rating: "A" (Excellent) Long-Term Issuer Credit Rating: "a" (Excellent) More information on website: https://www.triglav.eu/en/investors/actual/announcements 2026 2008 H1 2026 Highlights / H1 2026 Results / Outlook Strong Credit Ratings Year Credit rating Medium-term outlook Rating agency 2026 A+ Stable S&P Global 2025 A Stable AM Best A+ Stable S&P Global 2024 A Positive S&P Global Stable AM Best Stable S&P Global 2016 – 2023 A Stable AM Best S&P Global 2015 A- Positive AM Best S&P Global 2014 A- Positive AM Best Stable S&P Global 2013 A- Stable S&P Global Stable AM Best BBB+ Positive S&P Global 2012 A- Negative S&P Global 2011 A Negative S&P Global 2010 A Stable S&P Global 2009 A Stable S&P Global 2008 A Stable S&P Global 7
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 Leading Market Position in Adria Region SLOVENIA 35.8% (-0.3 p.p.) Market Share 1st rank (Premium written in Slovenia) 8.4% (Q1 2026) Market Share SERBIA 5th rank ADRIA REGION 17.3% (2025 YE) Market Share Market leader INTERNATIONAL Insurance and Reinsurance Markets CROATIA 5.1% (+0.4 p.p.) Market Share 8th rank MONTENEGRO 32.8% (-1.1 p.p.) Market Share 1st rank Market Share by Segments: Non-life 36.2% Health 34.4% Life & Pension 30.8% From 9M 2025 onwards, methodology includes only premiums written in respective markets and Adria region, excluding premiums generated in international markets. NORTH MACEDONIA 15.7% (Q1 2026) Market Share 2nd rank Data as of H1 2026 BOSNIA & HERZEGOVINA 7.7% (0.0 p.p.) Market Share 6th rank H1 2026 Highlights / H1 2026 Results / Outlook
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H1 2026 Results
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 Resilient Earnings Performance EBT by Business Lines (in €m) EBT by Business Segments (in €m) 10 Insurance operating result Net investment result Result from non-insurance Total EBT 85.8 75.2 20.5 28.7 3.3 1.3 109.6 105.2-12% +40% -59% -4% H1 2025 H1 2026 Reinsurance Life Health AM Total EBT 69.0 66.0 22.0 16.4 14.5 15.8 -3.1 -4.6 7.1 11.6 109.6 105.2 Non-Life -4% -26% +9% +64% -4% H1 2025 H1 2026 Claims impact partly mitigated by higher volumes. Structural increase of lower margin business. Note: Previously unified Non-Life has been split into two separate segments, Non-life and Reinsurance. Comparative data have been restated accordingly. Higher investment result in all segments Strong AM operating performance; YoY comparison influenced by one- offs in 2025 Results impacted by higher claims (incl. Nat CAT claims) Lower volumes in softening markets partly offset by stronger investment income Strong new-business profitability Higher AM fee income and stronger investment result Premium growth; EBT volatility due to new business model H1 2026 Highlights / H1 2026 Results / Outlook
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 Strong Key Performance Indicators Combined Ratio H1 2025 H1 2026 12.2% 13.9% +1.6 p.p. H1 2025 H1 2026 19.2% 16.5% -2.6 p.p. H1 2025 H1 2026 2.7% 3.1% +0.4 p.p. Strong underwriting profitability. Higher return on financial investments New Business Margin Life Annualized ROE Return on Financial Investments (excl. unit- linked insurance assets) 90.8% w/o new Italian business 11 H1 2026 Highlights / H1 2026 Results / Outlook 26.5% 61.7% H1 2025 24.2% 69.7% H1 2026 88.2% 93.9% +5.7 p.p. Expense ratio Net claims ratio CAT ratio 1.7% CAT ratio 2.8%
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 Robust Financial Position Indicators 12 Balance Sheet (in €m) Equity (in €m) CSM (in €m) AUM (in €m) Strong financial stability and capitalisation, with continued growth in AUM 31 Dec 2025 30 Jun 2026 5,436.0 5,601.8 +3% 31 Dec 2025 30 Jun 2026 1,078.1 1,092.9 +1% 31 Dec 2025 30 Jun 2026 306.7 318.0 +4% 31 Dec 2025 30 Jun 2026 6,271.1 6,792.4 +8% H1 2026 Highlights / H1 2026 Results / Outlook
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 13 Total Business Volume by Segments 5% 5% 13% 12% 20% 16% 60% 64% 3% H1 2025 3% H1 2026 Non-Life Reinsurance Life Health AM 635 209 133 30 58 770 187 145 34 62 Reinsurance Life Health AM Total 1,065 1,199 Non-Life +21% -10% +9% +13% +7% +13% H1 2025 H1 2026 Growth across most segments, led by strong premium growth in Non-Life TBV by Business Segments (in €m; % YoY) TBV Structure (in %) Note: Previously unified Non-Life has been split into two separate segments, Non-life and Reinsurance. Comparative data have been restated accordingly. H1 2026 Highlights / H1 2026 Results / Outlook
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 Total Business Volume by Markets 14 Q1 2023 Q1 2024 Business volume grew across all Adria markets, while international growth was driven primarily by Italy 563 68 56 28 27 23 93 209 584 73 64 30 28 24 208 187 Serbia Croatia Montenegro Bosnia and Herzegovina North Macedonia Intl. Insurance* TotalReinsuranceSlovenia 1,065 1,199 +4% +9% +15% +9% +7% +4% +124% -10% +13% H1 2025 H1 2026 +10% H1 2024 H1 2025 TBV by Markets (in €m) H1 2026 Highlights / H1 2026 Results / Outlook *Italy €147m (H1 2025: €24m), Other €61m (H1 2025: €69m) TBV Geographic Mix (in %) 53% 49% 19% 18% 9% 17% 20% 16% H1 2025 H1 2026 Reinsurance Intl. insurance Adria Region (excl. Slovenia) Slovenia
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 Strong Underwriting Profitability 15 Q1 2023 Q1 2024 H1 2024 H1 2025 Combined Ratio by Markets Combined Ratio (Group level) 26.5% 61.7% H1 2025 24.2% 69.7% H1 2026 88.2% 93.9% +5.7 p.p. Expense ratio Net claims ratio Insurance profitability improved or remained strong across all regional markets. Group-level dynamics were influenced by higher international business volumes and higher CAT ratio. CAT ratio 1.7% CAT ratio 2.8% CoR adj: 90.8% w/o new Italian business H1 2026 Highlights / H1 2026 Results / Outlook 98.6% 98.2% 97.1% Serbia 100.9%100.0% Croatia 90.0%87.7% 92.8% Montenegro 95.3% 92.5% 91.9% 89.6% North Macedonia 91.1% BiH 94.0% International business Slovenia +6.2 p.p. -0.4 p.p. -0.9 p.p. +2.8 p.p. -2.8 p.p. -2.3 p.p. +6.0 p.p. H1 2025 H1 2026
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 Balanced GWP Structure 16 Q1 2023 Q1 2024 Q1 2023 Q1 2024 By Product/Service Q1 2023 Q1 2024 Structure by GWP non-consolidated Further diversification and internationalization of business By Segment (consol.) By Market (consol.) By Type of Client By Sales Channel *Supplemental pension insurance 32% 39% 38% 32% 14% 14% 5%3%3% H1 2025 3% 3% H1 2026 5% Motor vehicle Property Life Gen. liability Pension Accident Health Credit 61% 66% 20% 16% 13% 12% 3% 3% H1 2025 3% 3% H1 2026 52% 48% 19% 18% 9% 18% 20% 16% H1 2025 H1 2026 Slovenia Adria region w/o Slovenia Intl. insurance Reinsurance 49% 42% 51% 58% H1 2025 H1 2026 Corporate clients Retail clients 79% 79% 21% 21% H1 2025 H1 2026 Own network External Non-Life Reinsurance Life Health AM* H1 2026 Highlights / H1 2026 Results / Outlook
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 Claims Incurred 17 Growth in gross claims incurred, mainly driven by Non-life due to portfolio growth in international insurance business and higher CAT losses Claims Incurred by Segments (in €m) 254 85 15 17 370 541 81 18 22 662 Non-Life Reinsurance Life Health Total +113% -4% +23% +35% +79% H1 2025 H1 2026 H1 2026 Highlights / H1 2026 Results / Outlook 19 33 18 16 31 24 32 212 45 43 11 30 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 H1 2025 H1 2026 Nat CAT Losses (estimated values; in €m) CAT events in H1 2026 (€29.7m gross; €27.8m net): ▪ €22.7m gross impact from direct Slovenian portfolio (storms in March and June) ▪ €7.0m, Reinsurance (storms in Central Europe and Iberian Peninsula; earthquake in Venezuela; heavy rainfall and flooding in Colombia) Most frequent CAT events: floods, storms, hail and frost +2% w/o new Italian business
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 Financial Investments of Insurance Portfolios Portfolio structure (Insurance portfolios, Unit-linked portfolios and Assets from financial contracts) 18 Instruments (in €M) 30 Jun 2026 31 Dec 2025 Index Investment property 65.6 65.0 101 Investments in associates and joint ventures 56.5 48.7 116 Shares and other variable-income securities 273.4 253.2 108 Debt and other fixed-income securities 2,220.7 2,293.7 97 Loans given 16.2 12.4 131 Bank deposits 67.8 79.0 86 Other financial instruments 0.8 0.8 100 Total (1) 2,701.1 2,752.8 98 Unit-linked life insurance contract investments (2) 873.6 749.6 117 Financial investments from financial contracts (3) 862.0 802.5 107 Total (1+2+3) 4,436.7 4,304.9 103 Return on financial investments (Unit-linked assets excluded) Return on financial investments (in €M) H1 2026 H1 2025 Interest income* 31.1 26.4 Dividend income 1.0 1.3 Net gains/losses on financial assets at FVTPL 3.4 1.8 Net gains/losses on financial assets at AC 0.0 0.0 Net gains/losses on financial assets at FVOCI -0.7 0.1 Net impairment/reversal of impairment of financial assets -0.1 0.2 Other investment income/expenses 4.5 -0.6 Total return on financial investments (1) 39.2 29.2 Gains/losses and impairments of investments in associates (2) 1.0 2.7 Total (1+2) 40.2 31.9 Rate of return on investment without UL 3.1% 2.7% *Calculated using effective interest method H1 2026 Highlights / H1 2026 Results / Outlook Higher return on financial investments, driven by positive FVTPL returns, higher interest income and stronger alternative investment and FX income
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 High Quality Investment Portfolio 19 Debt Instruments Portfolio structure (United-linked products and from financial contracts excluded) Government Bonds (Bonds issued by international institutions included) Total: €2,701m (-2% vs. YE 2025) Total €2,221m (-3% vs. YE 2025) Total €1,325m (-14% vs YE 2025) 83% 82% 9% 10% 2%3% 31 Dec 2025 2%3% 30 Jun 2026 Debt and other fixed return securities Shares and other floating-rate securities Investment property Deposits with banks Shares in associates Loans given Other 67% 60% 17% 25% 16% 15% 0% 31 Dec 2025 0% 30 Jun 2026 Structured Corporate Financial Government 24% 26% 10% 33% 35% 24% 23% 7% 1% 31 Dec 2025 8% 1% 30 Jun 2026 7% Not rated Below BBB BBB A AA AAA 36% 32% 13% 29% 37% 12% 13% 10% 12%0% 31 Dec 2025 0% 30 Jun 2026 6% Not rated Below BBB BBB A AA AAA 49% 47% 8% 16% 15% 18% 17% 7% 5%5% 31 Dec 2025 8%6% 30 Jun 2026 Intl. financial instit. Germany Italy Slovenia Croatia Other H1 2026 Highlights / H1 2026 Results / Outlook Investment portfolio is managed conservatively to ensure safety, liquidity and investment yield, while maintaining high credit rating for overall portfolio
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 20 Development of CSM Total Contractual Service Margin (CSM) Development (in €M) Contractual service margin (CSM) includes unearned profit that Company expects to earn from insurance contracts. It is calculated based on expected future cash flows (inflows and outflows), taking into account time value of money and risk adjustment. ▪ New Business Margin Life: 13.9% ▪ CSM of new contracts/CSM: 9.4% ▪ 75% CSM of new contracts from Life business 31 Dec 2025 30.0 CSM of new contracts 7.7 Change in expected cash flows -28.1 Release of CSM to profit or loss 1.7 Other 30 Jun 2026 306.7 318.0 +4% H1 2026 Highlights / H1 2026 Results / Outlook
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 Segment: Non-Life 21 Combined Ratio Total Business Volume (in €m) Insurance Operating Result (in €m) Net Investment Result (in €m) EBT (in €m) Strong volume growth, supported by international market expansion. Robust underwriting profitability, with results reflecting higher claims activity (incl. Nat CAT claims) and strong investment result. H1 2025 H1 2026 57.7 56.2 -11% H1 2025 H1 2026 14.0 16.4 +17% H1 2025 H1 2026 69.0 66.0 -4% 32.1% 56.2% H1 2025 31.1% 58.6% H1 2026 adj.* 27.0% 66.8% H1 2026 88.3% 89.7% 93.8% +1.6 p.p. +5.6 p.p. Expense ratio Net claims ratio * W/o new Italian business. CAT ratio 1.2% CAT ratio 4.5% 612.8 22.2¹ H1 2025 628.4 141.9¹ H1 2026 635.0 770.3 +21% ¹New Italian business H1 2026 Highlights / H1 2026 Results / Outlook CAT ratio 2.5% H1 2025 H1 2026 253.7 540.6 +113% Claims Incurred (in €m) Note: Previously unified Non-Life has been split into two separate segments, Non-life and Reinsurance. Comparative data have been restated accordingly. +2% w/o new Italian business
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 Segment: Reinsurance 22 Combined Ratio Total Business Volume (in €m) Claims Incurred (in €m) Insurance Operating Result (in €m) EBT (in €m) H1 2025 H1 2026 208.9 187.0 -10% H1 2025 H1 2026 22.1 13.9 -37% H1 2025 H1 2026 22.0 16.4 -26% 3.0% 80.4% H1 2025 1.8% 87.6% H1 2026 83.3% 89.4% +6.1 p.p. Expense ratio Net claims ratio H1 2025 H1 2026 84.6 80.8 -4% CAT ratio 3.8% CAT ratio 5.3% Note: Previously unified Non-Life has been split into two separate segments, Non-life and Reinsurance. Comparative data have been restated accordingly. H1 2026 Highlights / H1 2026 Results / Outlook Net Investment Result (in €m) Reinsurance profitability remained strong; lower volumes in softening markets partly offset by stronger investment income H1 2025H1 2026 0.4 2.5 +497%
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 Segment: Life 23 New Business Margin (in %) Life CSM YoY Development (in €m) Total Business Volume (in €m) Claims Incurred (in €m) EBT (in €m) Volume growth and strong new business profitability H1 2025 H1 2026 12.2% 13.9% +1.6 p.p. H1 2025 H1 2026 133.2 145.4 +9% H1 2025 H1 2026 14.8 18.3 +23% H1 2025 H1 2026 14.5 15.8 +9% 31 Dec 2025 22.5 CSM of new contracts 6.4 Change in expected cash flows -21.1 Release of CSM to profit or loss 1.5 Other 30 Jun 2026 286.8 296.1 +3% Contractual service margin is unearned (future) profit from insurance contracts H1 2026 Highlights / H1 2026 Results / Outlook
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 Segment: Health 24 Total Business Volume (in €m) Claims Incurred (in €m) Insurance Operating Result (in €m) EBT (in €m) Continued development and expansion of health insurance across Adria markets GWP by Markets (in €m) (in €M) H1 2026 H1 2025 Index Slovenia 16.2 13.6 119 Serbia 10.4 8.6 122 N. Macedonia 3.0 2.8 104 Croatia 2.2 1.4 159 Montenegro 1.3 0.9 144 B and H 0.5 0.4 148 Total 33.7 27.6 122 Continued portfolio growth across all markets. Claims growth driven by portfolio expansion, higher claim frequency and rising healthcare costs. CoR H1 2025 H1 2026 29.9 33.8 +13% H1 2025 H1 2026 16.5 22.3 +35% H1 2025 H1 2026 -3.5 -4.8 H1 2025 H1 2026 -3.1 -4.6 43.7% 71.1% H1 2025 36.7% 80.3% H1 2026 114.8% 117.1% +2.2 p.p. H1 2026 Highlights / H1 2026 Results / Outlook
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 Segment: Asset Management 25 Total Business Volume (in €m) Net Investment Result (in €m) Income from AM (income from fees; in €m) EBT (in €m) Note: AM segment includes clients' pension saving through insurance services, AM and management of clients' assets in mutual funds and discretionary mandate assets. Investment results of own insurance portfolios are taken into account in insurance segments. Continued growth in business volume. Strong earnings growth driven by higher AM fee income and improved investment results of own funds. H1 2025 H1 2026 58.0 62.1 +7% H1 2025 H1 2026 25.2 28.9 +15% H1 2025 H1 2026 7.1 11.6 +64% Operating Result (in €m) H1 2025 H1 2026 6.1 8.2 +36% H1 2025 H1 2026 1.0 3.4 +230% H1 2026 Highlights / H1 2026 Results / Outlook
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 26 Stable AUM AuM in Mutual funds & discretionary mandate assets (in €m) AUM as of 31 Dec 2025 3,062.8 Net inflow Impact (a) 150.0 Net market Impact (b) 380.6 Total (a+b) 530.6 AUM as of 30 Jun 2026 3,593.4 Assets under Management (in €m) 30 Jun 2026 31 Dec 2025 Index Own investment portfolio (1) 2,701.1 2,752.8 98 Unit-linked life insurance assets (2) 873.6 749.6 117 Financial instruments from financial contracts (3) 862.0 802.5 107 Total (1+2+3) 4,436.7 4,304.9 103 Assets under management (mutual funds, etc.) (4) 2,355.7 1,966.2 120 Total (1+2+3+4) 6,792.4 6,271.1 108 AUM in mutual funds and discretionary management benefited from net client inflows and favourable financial market conditions AUM (in €m) 31 Dec 2025 30 Jun 2026 6,271.1 6,792.4 +8% H1 2026 Highlights / H1 2026 Results / Outlook
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 H1 2026 Performance at a Glance 27 P&L Highlights (in €m) H1 2026 H1 2025 Index Total business volume (1+2) 1,198.7 1,065.0 113 Gross written premium (1) 1,155.1 1,022.3 113 Other income (2) 43.6 42.7 102 Insurance operating result (a) 75.2 85.8 88 Insurance revenue 1,128.7 699.1 161 Claims incurred -662.0 -369.6 179 Acquisition & admin. costs incl. non-attributable items -284.7 -189.8 150 Net reinsurance service result -104.8 -45.5 231 Net other insurance revenue and expenses -2.0 -8.5 24 Net Investment result (b) 28.7 20.5 140 Result from non-insurance operations (c) 1.3 3.3 41 Earnings before tax (a+b+c) 105.2 109.6 96 Net earnings 85.7 91.4 94 Other comprehensive income -2.7 6.6 Financial position indicators (in €m) 30 Jun 2026 31 Dec 2025 Index Balance sheet total 5,601.8 5,436.0 103 Equity 1,092.9 1,078.1 101 Asset under management (AUM) 6,792.4 6,271.1 108 Contractual service margin (CSM) 318.0 306.7 104 Number of employees 5,206 5,155 101 Number of employees FTE 5,072 5,037 101 Key performance indicators H1 2026 H1 2025 Change Annualised ROE 16.5% 19.2% -2.6 p.p. Combined ratio 93.9% 88.2% 5.7 p.p. Nat CAT claims ratio 2.8% 1.7% 1.1 p.p. Claims ratio 69.7% 61.7% 8.1 p.p. Expense ratio 24.2% 26.5% -2.3 p.p. Non-Life: Combined ratio 93.8% 88.3% 5.6 p.p. Health: Combined ratio 117.1% 114.8% 2.2 p.p. Reinsurance: Combined ratio 89.4% 83.3% 6.1 p.p. New business margin Life 13.9% 12.2% 1.6 p.p. CSM growth ratio 106% 101% 5.5 p.p. H1 2026 Highlights / H1 2026 Results / Outlook
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Outlook
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 29 At H1 2026 Confirmation of Annual Profit Guidance Combined Ratio (in %) 159 174 2024 2025 2026 Plan 170-190 2024 93.2 2025 2026 Plan 93.6 ≈ 95 2024 0.7* 1.9 2025 2026 Plan 1.7 2.6 > 2.4 *New Italian business H1 2026 Highlights / H1 2026 Results / Outlook Total Business Volume (in €b) Earnings Before Tax (in €m)
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 Doubling Profit (in €m) We Operate Safely & Profitably - ROE (in %) Strong Underwriting Profitability – CoR (in %) Growth in Business Volume (in €b) Growth in AuM (in €b) 13 2025 2030 Strategy 12-13 6 2025 2030 Strategy >10 174 2025 2026 Plan 2030 Strategy 170-190 250-300 2025 2026 Plan 2030 Strategy 93.2 ≈ 95 < 95 On Track to Deliver 2030 Strategic Ambitions 30 H1 2026 Highlights / H1 2026 Results / Outlook *New Italian business 0.7* 1.9 2025 2026 Plan 2030 Strategy 2.6 > 2.4 2.5-3.0
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 31 Attractive & Sustainable Dividend Policy (in €m; %) 2017 82% 2018 70% 2019 2020 53% 2021 74% 84.1 2022 51% 2023 247% 2024 49% 64% 2025 51% 2016 2026 2027 2028 2029 69% 56.8 56.8 56.8 56.8 2030 56.8 39.8 63.7 68.2 38.6 Dividends paid (in €m) % of consolidated net profit for the previous year 50 % Returned to shareholders 50 % Retained to fund growth Payout based on dividend policy & capital needs H1 2026 Highlights / H1 2026 Results / Outlook We Strive to Be Profitable, Stable and Secure Investment for Our Investors Regulator‘s call for Slovenian insurers to suspend or limit dividend payouts Strategic ambitions 2025 - 2030: around €400m dividends €132m
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 Next Reporting Event: 9M 2026 Results Planned date¹ Time¹ Type of announcement Friday, 6 March 2026 8:30 Preliminary key figures 2025 Monday, 30 March 2026 8:30 Audited annual report for 2025 Thursday, 23 April 2026 Convocation Notice of General Meeting of Shareholders on distribution of profit Wednesday, 20 May 2026 8:30 January – March 2026 Results Tuesday, 2 June 2026 General Meeting of Shareholders and notice of its resolutions Friday, 21 August 2026 8:30 January – June 2026 Interim Report Wednesday, 18 November 2026 8:30 January – September 2026 Results ¹ Central European Time. Dates and times are provisional and are subject to change. 33 2026 Financial Calendar
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 Glossary 34 ▪ Assets under management (AUM) Comprise own investment portfolio, assets from pension insurance savings funds, unit-linked insurance assets, assets in mutual funds and discretionary mandate assets, and alternative investments. ▪ Capital adequacy ratio Ratio of available own funds eligible to cover the solvency capital requirement to solvency capital requirement. ▪ Claims incurred Comprise insurance service expenses for claims, change in future cash flows, change in experience correction, loss of onerous contracts, allocation to onerous contracts and remaining insurance expenses. ▪ Claims ratio Ratio of sum of claims, change in future cash flows, change in experience correction, change in onerous contracts and reinsurance result to insurance revenue. ▪ Combined ratio Sum of expense ratio and claims ratio. It measures profitability of contracts in NL, Re, Health, or all segments together, excluding investment returns. A value of less than 100% reflects positive business performance. ▪ Comprehensive income Consists of two elements. First element comprises net earnings in the accounting period from the statement of profit or loss. Second element comprises other comprehensive income, which discloses income and expense items that are not recognised in the statement of profit or loss, but affect the balance of shareholders' equity. ▪ Contractual service margin (CSM) Represents estimated unearned profit of insurance contracts, which will be recognised in statement of profit or loss over the coverage period of insurance service. It is calculated based on the present value of expected future cash flows (inflows and outflows) of the group of insurance contracts and risk adjustment for non-financial risk. ▪ CSM growth ratio Ratio of the CSM of new contracts to the contractual service margin released to profit or loss as the related cash flows fall due. ▪ CSM of new contracts/Total CSM Ratio of contractual service margin (CSM) of new contracts in reporting period to total contractual service margin. It is appropriate for monitoring future effects of new business.
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 Glossary – cont. 35 ▪ Expense ratio Ratio of sum of attributable and non-attributable costs to insurance revenue. It is a component of the combined ratio and plays a crucial role in explaining cost-effectiveness impact. ▪ Gross written premium (GWP) Sum of all premiums that insurance company charges to policyholders following underwriting or renewal of policies in accounting period. ▪ Insurance operating result Comprises insurance revenue less claims incurred and acquisition and administrative costs, including non-attributable costs, net reinsurance service result and net other insurance income/expenses. ▪ Nat CAT claims ratio Ratio of estimated net amount of nat CAT claims to insurance revenue. ▪ Net investment result Comprises investment result, financial result from insurance contracts, gains and losses on investments in associates, net gains or losses from impairment of investments in associates and change in provisions for not achieving yield on supplemental voluntary pension insurance. ▪ New business margin Life Ratio of sum of the contractual service margin (CSM) of new contracts to loss of onerous contracts recognised for new policies and present value of new premium. ▪ Result from non-insurance operations Sum of categories that are not included in insurance operating result and net investment result. ▪ Return on equity (ROE) Ratio of net earnings for the period to the average balance of shareholders‘ equity in the period. In interim reports, return on equity is annualised. It enables year-on-year comparability of return on equity while also providing a quick annual estimate of profitability. ▪ Return on financial investments Ratio of return on investment to average balance of financial investments. ▪ Total business volume (TBV) Gross written premium and other income. ▪ Total revenue Insurance revenue, asset management income, other operating income and other income.
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© Triglav Group: H1 2026 Results_ Investor Presentation_ August 2026 For more information, please contact Investor Relations Helena Ulaga Kitek, Director of IR Nika Kikovič, Senior IR Specialist Email: investor.relations@triglav.si Website: www.triglav.eu