Mapfre S A : (07.2022) Financial information 6M 2022

Madrid, July 28, 2022

SPANISH SECURITIES AND EXCHANGE COMMISSION (CNMV)

In accordance with article 227 of the Recast Text of the Securities Market Act, MAPFRE S.A. (MAPFRE) hereby gives notice to the Spanish Securities and Exchange Commission of the following

OTHER RELEVANT INFORMATION

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

June 2022

CONTENTS

1. MAPFRE Group Key Figures	3
2.	Significant Economic and Corporate Events	4
3. Macroeconomic Overview and Financial Markets	8
4.	Consolidated Result	11
5.	Consolidated Balance Sheet	14
6.	Information by Business Unit	18
	6.1 IBERIA	19
	6.2 BRAZIL	21
	6.3 LATAM NORTH	23
	6.4 LATAM SOUTH	25
	6.5 NORTH AMERICA	27
	6.6 EURASIA	29
	6.7 MAPFRE RE	31
	6.8 MAPFRE ASISTENCIA	33
7. Debt & Capital Management	34
8.	Solvency II	35
9.	Ratings	38
10. The MAPFRE Share. Dividend Information.	39
11. Accolades Received in the Quarter	42
12. Events Subsequent to Closing	44
13. Appendixes	45

JANUARY - JUNE 2022

1. MAPFRE GROUP KEY FIGURES

ITEM	JUNE 2021	JUNE 2022	%
Results
Revenue	14,083.1	14,806.8	5.1 %
Total written and accepted premiums	11,662.6	12,509.7	7.3 %
- Non-Life	9,346.7	10,106.2	8.1 %
- Life	2,316.0	2,403.5	3.8 %
Attributable net result	364.0	337.6	-7.3 %
Non-Life Loss Ratio	66.0 %	71.2 %	5.2 p.p.
Non-Life Expense Ratio	29.1 %	27.1 %	-2.0 p.p.
Non-Life Combined Ratio	95.1 %	98.3 %	3.2 p.p.
Earnings per share (euros / 3 months)	0.12	0.11	-7.3 %

ITEM	DECEMBER 2021	JUNE 2022	%
Balance sheet
Total assets	63,854.3	63,051.8	-1.3 %
Assets under management	57,994.3	53,075.3	-8.5 %
Shareholders' equity	8,463.4	7,629.2	-9.9 %
Debt	3,091.5	2,924.2	-5.4 %
ROE	9.0 %	9.2 %	0.2 p.p.
Employees at the close of the period
Total	32,341	31,705	-2.0 %
- Spain	11,138	11,072	-0.6 %
- Other countries	21,203	20,633	-2.7 %
MAPFRE share
Market capitalization (million euros)	5,560.1	5,179.8	-6.8 %
Share price (euros)	1.806	1.682	-6.8 %

ITEM	DECEMBER 2021	MARCH 2021	%
Solvency
Solvency ratio	206.3 %	205.3 %	-1.0 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 - JUNE 2022

2. SIGNIFICANT ECONOMIC AND CORPORATE EVENTS

2.1 Strategic Plan 2022-2024

Despite the extraordinarily complex environment full of uncertainty, MAPFRE reaffirms its intention to continue working toward the current Strategic Plan, announced at the most recent Annual General Shareholders' Meeting, since it is the roadmap the company needs to continue advancing in growth and profitability. The Plan, designed before the invasion of Ukraine, is being carried out with flexibility to adapt each of its initiatives at every moment to the development of the different scenarios.

Regarding the Plan's public economic objectives, both the aspirational objectives and the general framework are still valid. The combined ratio objective of 94-95 percent is challenging in the current context and could be subject to revision in coming quarters, depending on the development of inflation. On the other hand, the positive development of premiums, the improvement in the financial result from the increase in interest rates and the positive performance of currencies against the euro are factors that will work in favor of meeting the target of 9-10 percent ROE. Further, the excellent solvency and capital levels along with the reasonable level of debt are positive factors for meeting the 50 percent minimum pay- out target and therefore also the sustainable dividend. This confirmation of targets is based on there being no additional deterioration of the current socioeconomic environment.

Regarding transformation and sustainability (ESG) targets, they are reaffirmed as fully valid as well.

2.2 Significant Economic Events

Following the ESMA recommendation, the impacts from the COVID pandemic and the Russian invasion of Ukraine are included in the significant economic events in this report.

2.2.1 COVID losses impact development

In the first half of 2022, losses were down thanks to the positive advances in vaccination, despite the arrival of new variants of COVID-19, as well as the return to normality after the elimination of health and mobility restrictions.

The following chart shows loss development over the last five quarters:

Figures in million euros

The breakdown of COVID losses by region and business unit and line is as follows:

Regions and Units		June 2021	June 2022
IBERIA		22.2	11.0
LATAM NORTH		72.6	24.9
LATAM SOUTH		43.8	3.2
BRAZIL		99.7	18.1
NORTH AMERICA		1.4	1.4
EURASIA		2.4	0.4
TOTAL INSURANCE		242.1	59.1
MAPFRE RE		19.3	10.4
MAPFRE ASISTENCIA		5.1	3.7
TOTAL ACCUMULATED		266.4	73.2
Figures in million euros
Lines	June 2021	June 2022
LIFE PROTECTION	151.9	34.0
HEALTH	50.5	14.9
OTHER LINES	64.0	24.3
TOTAL ACCUMULATED	266.4	73.2

Figures in million euros

2.2.2 Ukraine invasion

On February 24, Russia began its invasion of Ukraine territory, initiating a war that continues today.

Since the beginning of this invasion, MAPFRE has been monitoring its direct impacts on insurance and reinsurance activity and on investments held in Russia and Belarus.

• 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.