Bâloise : Earnings Document

Annual Results 2022

Presentation to Investors and Analysts

Based on 2022 Preliminary Figures

Cautionary statement regarding forward-looking information

This presentation was produced by Bâloise Holding AG and/or its affiliates (hereafter "Baloise") with the greatest of care and to the best of its knowledge based on information available for Baloise in Switzerland on the day of its first publication. If nothing is indicated to the contrary, all figures are not audited. This presentation contains forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and Baloise might not be able to achieve the predictions, forecasts, projections and other outcomes Baloise describes or implies in this presentation. A number of important factors could cause results to differ materially from the plans, objectives, expectations, estimates and intensions Baloise expresses in this presentation. Further, IFRS 17 and IFRS 9, both effective from 1 January 2023, are expected to significantly affect the way the consolidated financial positions are reported and measured, the impact of which currently cannot be fully assessed. However, neither Baloise nor any of its members of the board, directors, officers, employees, advisors or any other person make any representation or warranty as to the accuracy or completeness of the information contained in this presentation. Neither Baloise nor any of its members of the board, directors, officers, employees, advisors or any other person accept any liability for direct or indirect losses which might arise from making use of the information of this presentation. This presentation does not constitute an offer or a recommendation to subscribe for or purchase any shares or other securities of Baloise and does not release the recipient from exercising his/her own judgment, if necessary, with the help of a professional advisor. Furthermore, Baloise does not intend to update these forward-looking statements except as may be required by applicable law. This document may not be copied, reproduced, altered, offered, sold or otherwise distributed to any other person either in part or in full without the prior written consent of Baloise. Copyright © 2023 Bâloise Holding AG. All rights reserved.

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Agenda

1. Annual Results 2022 in a Nutshell
2. Strategic Update «Simply Safe: Season 2»
3. Cash Remittance, Payout and Capitalisation
4. Non-LifeBusiness
5. Life Business
6. Asset Management and Banking
7. Ecosystems and Innovation
8. Insurance Assets
9. Segment Reporting

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01 Annual Results 2022

in a Nutshell

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Financial Highlights Full-Year 2022

Solid results, strong cash remittance and higher dividend

Group

Net
Income	548 mn
Cash
Cash Remittance	471 mn
Dividend (planned)	7.4
Capital
Equity	4.6 bn
S&P Rating	A+
SST-Ratio1	>230%

Non-Life Business

Combined Ratio	91.9%
Combined Ratio	00.0%
Growth2 2	2.4%
Growth	2.3%
EBIT	322 mn
EBIT	162 mn
Life Business
Interest Rate Margin	117 bp
Growth2,3	-5.3% /-18.9%
EBIT	377 mn

Asset Mgmt & Bank

Net Investment Yield4	2.0%
Net new third-party assets	+1.0 bn
EBIT	63 mn

Main Messages

• Strong underlying result in a demanding economic environment demonstrates reliability and resilience of Baloise
• Net income negatively affected by one-off effects5 of CHF 37 mn in Non- Life, mainly driven by high inflation
• Solid growth and strong underlying Combined Ratio in Non-Life
• Outstanding result in Life driven by higher interest rates
• Very strong economic capitalisation, higher cash generation and further increase in dividend

Based on 2022 preliminary figures, all amounts in CHF

1) Estimated, per 1.1.2023 2) in local currency 3) Life insurance premiums / investment-type premium 4) On insurance assets

5) Reserve strengthening due to inflation partially offset by reserve releases from the planned sale of the German hospital liability business and interest-related reserve releases from the accident insurance business in Switzerland

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