Disclaimer

This presentation and the information contained herein have been prepared by and is the sole responsibility of Protector Forsikring ASA (the "Company"). Such information is being provided to you solely for your information and may not be reproduced, retransmitted, further distributed to any other person or published, in whole or in part, for any purpose. Failure to comply with this restriction may constitute a violation of applicable securities laws. The information and opinions presented herein are based on general information gathered at the time of writing and are therefore subject to change without notice. The Company assumes no obligationsto update or correct any of the information set out herein.

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Investor Presentation

Henrik Høye Chief Executive Officer

The Challenger

Business Idea

This will happen through unique relationships, best in class decisionmaking and cost effective solutions

Main targets

Cost and quality leadership

Profitable growth

Top 3

Values

Credible

Innovative/Open

Bold

Claims update

Q3:

Underlying improvement in property and motor
- Supported by price increases above claims inflation
- Motor affected by favorable seasonality in Sweden and Norway
Six (6) large loss¹ events totalling 7.1% (7.8%)
- Property claims only
Run-off gains driven by motor and liability

Loss ratios
Segment	Q3 24 Gross	Q3 24 Net	Q3 23 Gross	03 23 Net

Norway	64%	63%	101%	99%
Sweden*	60%	64%	65%	69%
Denmark	126%	122%	71%	71%
UK	64%	68%	76%	83%
Protector	71.5%	73.6%	77.4%	80.9%
Whereof large losses		7.1 %		7.8 %
Inthornation off		ر من مارك الأوروب المنتدى المنتدى المنتقب المنتقل المنتقب المنتقل المنتقب المنتقل المنتقل المنتقل المنتقل المنتقل المنتقل المنتقل المنتقل المنتقل المنتقل المنتقل المنتقل الم		0 C 0/

Loss ratios
	YID 24	YID 24	YITD 23	YID 23
Segment	Gross	Net	Gross	Net
Norway	78%	79%	88%	89%
Sweden*	71%	72%	76%	80%
Denmark	117%	119%	90%	86%
UK	63%	70%	68%	69%
Protector	75.1%	79.3%	77.4%	78.5%
Whereof large losses		8.9 %		4.8 %
Whereof run-off		1.1 %		-0.5 %

Large losses¹ and run-off

Q3:

Large loss of NOKm 214.6 or 7.1% (184.0 or 7.8%)
- Losses originating from Denmark and UK
Run-off gains at 2.8% (gain of 2.9%)
- Run-off gains in NO, SE and UK, loss in DK
Some volatility in reserves & large losses must be expected
- Best estimate reserving practice, run-off at 0% over time

Q3:

Growth at 15% (LCY)
- Renewal rate at 93%, supported by price increases to counter claims inflation
- Churn driven by one very large UK client.
  - Renewal rate excl. this one client at 101%
We stay disciplined to our profitable growth target

Segment	03 24	Q3 23	Growth	NOK %	LCY%
Norway	231	189	42	22%	22%
Sweden*	316	211	105	50%	29%
Denmark	121	67	54	81%	69%
UK	995	894	101	11%	5%
Protector	1 664	1 362	302	22%	15%

Segment		YTD 24 YTD 23 Growth NOK %			LCY%
Norway	2 086	1 728	358	21%	21%
Sweden*	2 372	2 274	98	4%	2%
Denmark	1 376	1 172	204	17%	15%
UK	3 811	3 189	622	20%	14%
Protector	9 645	8 363	1 282	15%	12%

	Norway		Sweden*		Denmark		UK		Protector
NOKm	Q3 24	Q3 23	Q3 24	Q3 23	Q3 24	Q3 23	Q3 24	Q3 23	Q3 24	Q3 23
Gross premium written	231	189	316	211	121	67	ਰੇਰੇ ਦੇ	894	1 664	1 362
Insurance revenues	589	459	704	୧ ମସିହାର ହେଲା । ଏହା ୧୯୮୦ ମସିହାର ହେଲା ବିଧାନ ସଭାକୁ ନିର୍ବାଚନ ହେଲା ବିଧାନ ସଭାକୁ ନିର୍ବାଚନ ହୋଇଥିଲେ । ଏହା ବିଧାନ ସଭାକୁ ନିର୍ବାଚନ ହୋଇଥିବା ବିଧାନ ସଭାକୁ ନିର୍ବାଚନ ହୋଇଥିଲେ । ୧୯୮୦ ମସିହାର ହୋଇ	415	340	1 293	952	3 002	2 366
Insurance service result	178	(34)	168	106	(126)	72	284	ટર્ટ	504	। ਰੇਰੇ
Loss ratio, gross	63.8%	100.5%	59.7%	64.9%	125.8%	71.3%	64.0%	76.5%	71.5%	77.4%
Net reinsurance ratio	-0.3%	-1.4%	4.0%	4.5%	-3.5%	-0.8%	4.0%	6.6%	2.1%	3.4%
Loss ratio, net of reinsurance	63.5%	99.1%	63.6%	69.4%	122.3%	70.6%	68.0%	83.1%	73.6%	80.9%
Cost ratio	6.3%	8.4%	12.5%	13.4%	8.0%	8.1%	10.1%	11.1%	9.6%	10.7%
Whereof commissions to brokers and agents	2.3%	3.0%	7.6%	7.3%	0.1%	-0.0%	4.0%	5.2%	3.9%	4.5%
Combined ratio	69.8 %	107.5 %	76.1 %	82.8 %	130.3 %	78.7 %	78.1 %	94.2 %	83.2 %	91.6 %

	Norway		Sweden*		Denmark		UK		Protector
NOKm	YTD 24	YTD 23	YTD 24	YTD 23	YTD 24	YTD 23	YTD 24	YTD 23	YTD 24	YTD 23
Gross premium written	2 086	1 728	2 372	2 274	1 376	1 172	3 811	3 189	9 645	8 363
Insurance revenues	1 687	1 379	2 095	। ਰੇਤੇ ਦ	1 181	ਰੇਵਰ	3 639	2 457	8 601	6 739
Insurance service result	239	ਦੇਤੋ	298	ਹ ਤੇ ਦ	(312)	୧୫	677	464	902	719
Loss ratio, gross	78.2%	88.2%	70.8%	75.9%	116.7%	89.8%	62.6%	67.7%	75.1%	77.4%
Net reinsurance ratio	0.8%	1.2%	1.7%	3.9%	2.0%	-4.2%	7.8%	0.9%	4.1%	1.1%
Loss ratio, net of reinsurance	79.0%	89.4%	72.5%	79.8%	118.7%	85.6%	70.4%	68.6%	79.3%	78.5%
Cost ratio	6.9%	6.7%	13.3%	13.3%	7.7%	7.4%	11.0%	12.5%	10.3%	10.8%
Whereof commissions to brokers and agents	2.6%	1.7%	7.6%	6.9%	0.1%	0.0%	4.5%	5.3%	4.2%	4.2%
Combined ratio	85.9 %	96.2 %	85.8 %	93.0 %	126.4 %	93.0 %	81.4 %	81.1 %	89.5 %	89.3 %

Quarterly net loss ratio development

Volatility must be expected, even on a company level

¹ Our own broker satisfaction survey (handled by third party) ² 3

rd place in Finland

Quality Leadership Easy to do business with, commercially attractive and trustworthy

• The brokers are our only distribution channel • Quality definition aligned with brokers' own surveys • Confirming our own surveys' result • Measured annually Why measure quality perceived by brokers? Achievements Broker satisfaction index 2024¹

How to improve is the most important purpose
- Understand brokers' and our roles
- Quick response times
- Right first time, on time, every time
- Continuous evaluation of definition