Generali : Presentation of Results at 31 December 2022

GENERALI GROUP 2022 RESULTS

The like for like change of written premiums and Life net cash inflows is on equivalent terms (on equivalent exchange rates and consolidation area). Operating Result, Asset Under Management and Life technical provisions exclude assets under disposals or disposed during the period, if any. 2021 numbers for PVNBP, NBV and NBM are

presented on historical basis, without excluding asset disposals. The like for like changes are on equivalent terms.

2

AGENDA

01 Strategy overview

02 Group financials

03 Backup

04

STRATEGY OVERVIEW

PHILIPPE DONNET

GROUP CHIEF EXECUTIVE OFFICER

4

STRONG START TO 'LIFETIME PARTNER 24: DRIVING GROWTH' PLAN

Best ever Operating Result with continued growth in premiums and Net Result

Higher proposed dividend underpinned by strong cash and capital position

Disciplined execution of strategy with key financial and customer loyalty targets on track

Effective inflation fighting programme in place with focus on P&C, operations and investments

Sustainability fully embedded as a responsible insurer, investor, employer and corporate citizen

5

SOLID PERFORMANCE WITH CONTINUED GROWTH IN THE OPERATING RESULT AND A STRONG CAPITAL POSITION

Operating Result (€ m)

Net Result¹ (€ m)

Solvency Ratio (%)

	+11.2%
5,852	6,509
2021	2022

P&C Premiums² (€ m)
	+9.8%
24,145	28,636
2021	2022

+2.3%

2,847	2,912
2021	2022

Life New Business Margin² (%)

+86 bps

4.52	5.35
2021	2022

-6 p.p.

227	221
2021	2022

P&C Combined Ratio³ (%)

+2.4 p.p.

90.8	93.2
2021	2022

1. Excluding the impact of impairments on Russian investments, the Net Result would have grown to €3,066m
2. Changes in P&C premiums and Life New Business Margin are presented on equivalent terms (at constant exchange rates and consolidation scope)
3. Excluding Argentina, the Group Combined Ratio would have been 92.6%