Mapfre S A : (02.2022) Financial information 4Q 2021

Madrid, February 10, 2022

SPANISH SECURITIES AND EXCHANGE COMMISSION

Please find attached the financial information that will be made available on the Company's website, for shareholders and the public in general.

Ángel L. Dávila Bermejo General Counsel

Financial Report

December 2021

CONTENTS

1. MAPFRE Group Key Figures	3
2.	Significant Economic and Corporate Events	4
3. Macroeconomic Overview and Financial Markets	8
4.	Consolidated Result	12
5.	Consolidated Balance Sheet	15
6.	Information by Business Unit	20
	6.1 IBERIA	21
	6.2 BRAZIL	24
	6.3 LATAM NORTH	26
	6.4 LATAM SOUTH	28
	6.5 NORTH AMERICA	30
	6.6 EURASIA	32
	6.7 MAPFRE RE	34
	6.8 MAPFRE ASISTENCIA	36
7. Debt & Capital Management	38
8.	Solvency II	39
9.	Ratings	42
10. The MAPFRE Share. Dividend Information.	43
11. Accolades Received in the Quarter	46
12. Events Subsequent to Closing	47
13. Appendixes	48

JANUARY - DECEMBER 2021

1. MAPFRE GROUP KEY FIGURES

ITEM	DECEMBER 2020	DECEMBER 2021	%
Results
Revenue	25,419.1	27,257.2	7.2 %
Total written and accepted premiums	20,482.2	22,154.6	8.2 %
- Non-Life	16,109.8	17,267.1	7.2 %
- Life	4,372.4	4,887.5	11.8 %
Attributable net result	526.5	765.2	45.3 %
Non-Life Loss Ratio	65.6 %	68.2 %	2.6 p.p.
Non-Life Expense Ratio	29.1 %	29.3 %	0.1 p.p.
Non-Life Combined Ratio	94.8 %	97.5 %	2.7 p.p.
Earnings per share (euros / 12 months)	0.17	0.25	45.3 %

ITEM	DECEMBER 2020	DECEMBER 2021	%
Balance sheet
Total assets	69,152.6	63,854.2	-7.7 %
Assets under management	55,181.8	57,994.3	5.1 %
Shareholders' equity	8,536.0	8,463.4	-0.9 %
Debt	2,993.6	3,091.5	3.3 %
ROE	6.1 %	9.0 %	2.9 p.p.
Employees at the close of the period
Total	33,730	32,341	-4.1 %
- Spain	11,332	11,138	-1.7 %
- Other countries	22,398	21,203	-5.3 %
MAPFRE share
Market capitalization (million euros)	4,905.7	5,560.1	13.3 %
Share price (euros)	1.593	1.806	13.3 %

ITEM	DECEMBER 2020	SEPTEMBER 2021	%
Solvency
Solvency ratio	192.9 %	193.8 %	0.9 p.p.
Figures in million euros

3		Financial Information

The English version is a translation of the original in Spanish for information purposes only. In case of discrepancy, the Spanish version shall prevail.

JANUARY - DECEMBER 2021

2. SIGNIFICANT ECONOMIC AND CORPORATE EVENTS

2.1 Significant Economic Events

2.1.1 Development of COVID-19 impacts Current status of MAPFRE operations

MAPFRE's activity during the COVID-19 crisis has focused on two main priorities:

• Guaranteeing the health and safety of all employees and collaborators.
• Ensuring business continuity in order to continue providing the highest level of service to our clients.

From the perspective of managing the crisis provoked by the pandemic, despite its impact and the mobility restrictions imposed in many countries, MAPFRE Group has maintained the continuity of its operations and has continued providing service to clients everywhere the Group operates, always complying with our commitment to our clients, as well as with the relevant legislation in force in each country at all times.

At the close of December, the percent of personnel who were working on the premises in the key markets where MAPFRE operates was the following: Spain, 95.9 percent of employees on a rotating basis; United States, 78.0 percent of employees on regular schedule with flexibility to work remotely; and Brazil, 100.0 percent of employees on a hybrid mobility model.

In the last quarter of the year, the COVID-19 pandemic situation improved progressively, thanks to advances in the vaccination process. This made it possible to be moderately optimistic about the development of the pandemic situation, with more and more countries slowly getting closer to normality, although new waves and new variants could limit the return to the total normalization of economic activity.

Most relevant economic impacts on MAPFRE's Income Statement

The following is a breakdown of the most relevant impacts on Group results, at the close of December 2021, as a result of the coronavirus (COVID-19) crisis:

Losses

Losses incurred as a result of claims directly allocated to COVID-19, by line of business, are as follows:

Lines	December	December
	2020	2021
LIFE PROTECTION	83.5	278.8
HEALTH	58.8	88.7
BURIAL	30.0	15.0
TRAVEL ASSISTANCE (Travel	23.2	8.0
Insurance)
OTHER	13.7	17.7
TOTAL INSURANCE	209.2	408.3
ACCEPTED REINSURANCE	113.4	52.1
TOTAL ACCUMULATED	322.6	460.4

Figures in million euros

By region and business unit, the breakdown of losses is as follows:

Regions and Units	December	December
2020	2021
IBERIA	39.1	32.7
LATAM NORTH	63.3	130.1
LATAM SOUTH	33.5	42.7
BRAZIL	46.2	188.7
NORTH AMERICA	0.8	2.7
EURASIA	3.1	3.3
TOTAL INSURANCE	186.0	400.2
MAPFRE RE	113.4	52.1
MAPFRE ASISTENCIA	23.2	8.0
TOTAL ACCUMULATED	322.6	460.4

Figures in million euros

Combined Ratio

The combined ratio to December by line of business during the last three years is broken down below:

Lines	Combined Ratio
December	December	December
	2019	2020	2021
AUTO	100.5 %	91.7 %	100.8 %
HEALTH & ACCIDENT	98.5 %	94.1 %	100.1 %
GENERAL P&C	88.0 %	92.5 %	90.8 %
BURIAL	96.3 %	112.1 %	100.5 %
TRAVEL ASSISTANCE	102.9 %	102.3 %	107.4 %
LIFE PROTECTION	84.2 %	85.4 %	94.6 %

• Financial Information

The English version is a translation of the original in Spanish for information purposes only. In case of discrepancy, the Spanish version shall prevail.