DFV Deutsche Familienversicherung AG

Investor Presentation • May 16, 2023

Bilanzpressekonferenz 2023 | DFV Deutsche Familienversicherung AG | 30.03.2023 Digital, profitable, growing DFV Deutsche Familienversicherung AG I Frankfurt am Main

Who we are

The first digital direct insurer from Germany

• Digital direct insurer from Frankfurt am Main
• Mixed health and P&C insurance company and reinsurer
• Listed on Frankfurt stock exchange (Prime Standard)

The founder and the management team

Long-term restructuring for stability and reliability

Dr Stefan Knoll CEO & Founder

• Operational work and daily business also works without a CEO.
• The CEO will focus on strategic corporate development in the future.

Management Board

Ansgar Kaschel CSO

Dr Karsten Paetzmann CFO

Marcus Wollny CCO

Executive Management Team

Dr Maximilian Knoll COO

Dr Bettina Hornung CIO

Founder, entrepreneur and CEO

Founding and further development of modern, digital business models into high-revenue companies

5

Profitable

Group result 2022

+34 %

Revenue growth net

-12 %

Opex (Cost cutting) net

€1.7M

Over-delivered on profitability target

Revenue (net earned premiums) and Opex: change year-over-year Opex: IFRS expenses from insurance operations

Fulfilling profitability with high growth

Group result before taxes (IFRS) & development of gross written premiums in €m, incl. reinsurance*.

Gross written premiums in €m

Growth in gross written premiums 2022¹

• Total insurance industry: -0.7%
• Private health insurance: +3.1%
• Property insurance: +4.0%

Group result 2022

First financial period with positive operating profit since IPO

Statement of comprehensive income

€m	2021	2022	Delta
(GWP) Gross written premiums	155 2	183 5	+28 3
(NEP) earned Net premiums	87 4	117 0	+29 6
from capital Income investments	10 8	2 1	-8 7
Other revenue	1 0	0 6	-0 4
benefits Insurance	-58 3	-81 7	-23 4
from Expenses insurance operations	-37 6	-33 0	+4 6
Other expenses	-4 1	-3 5	+0 7
Operating income	-0 8	1 7	+2 5
Financing for leases expenses	0 0	0 0	+0 0
Profit before tax	-0 8	1 7	+2 5
Income taxes	-0 9	-0 7	+0 2
Profit after tax	-1 7	0 1	+2 7
from Unrealised gains and losses capital investments	-4 1	-19 0	-14 9
Total comprehensive income	-5 8	-18 0	-12 2
(primary only) per policy - annualised GWP in € insurance	240	254
of staff Average #	178	184

Gross written premiums increased by 18 % in 2022, compared to a premium increase of 34 % on a net basis.

Insurance benefits increased by 40 % in 2022, slightly more than net earned premiums (NEP).

The net claims ratio including additions to the actuarial reserve and additions to the reserve for policyholder participations (RfB) was 69.8 % in 2022 (2021: 66.7 %).

Group result 2022

Also positive operating profitability based on HGB

Bridge IFRS (Group) to HGB (AG)

€m	2021	2022	Delta
Profit before (Group) IFRS tax	-0 8	1 7	+2 5
from IFRS income capital investments	-10 8	-2 1	+8 7
from HGB income capital investments	4 4	3 7	-0 6
HGB equalisation movements reserve	-0 2	-0 9	-0 7
Other items	-0 6	-0 1	+0 6
Profit before (AG) HGB tax	-8 1	2 3	+10 4

Goal:

We strive for the ability to pay dividends so that shareholders can parti-cipate directly in the success of DFV

AG single entity level

(HGB profit before tax; in €m)

We are a profitable insurance company

Operating result FY 2022 according to IFRS

Figures in million*	FY 2022
Gross written premiums	€183.5m	Premiums from
Net earned premiums	€117.0m	primary insurance and reinsurance
Insurance benefits (net)	-€81.6m	business
Operating result I	€35.4m	Structural
Expenses	-€14.3m	profitability
Operating result II	€21.1m
Sales expenses	-€21.7m	Growth investments
Operating result III	-€0.6m
Income from capital investments	€2.3m	Profit
Operating result IV	+€1.7m	before taxes

DFV is a leader in digitalisation

The digital direct insurer from Frankfurt am Main

• We offer the most digital products
• We offer the most digital customer service
• We offer the most digital claims settlement
• We offer on-demand insurance cover

DFV is the most innovative insurer in the industry

For insurance companies with up to 250 employees¹

Automation rates in operation and performance are already exceptionally high today

Rethinking automation

Project Warthog

• We want to rethink digitisation!
• It is not the technology that determines the processes, but only the products.
• Just as the Americans once built an airplane around a cannon, we are building the products and processes around the technology.
• That is our Warthog project.

Degressive hiring policy with progressive automation

The translation of analog realities into binary codes

New sales with the following focus

19

Direct marketing on TV

Increase brand awareness through own television advertising

• Further development of the successful cooperation with ProSiebenSat.1
• TV advertising with own spots and constantly changing content
• Since 1.1.2023 DFV-KombiSchutz, since 1.3. DFV Snap and from 1.4. DFV-ZahnSchutz
• Increase brand awareness by 21%¹

Jetzt QR-Code scannen & anschauen!

21

Targeted use of digital media

We are where the customers are

• 360° communication in the digital space
• Permanent presence within the customer journey
• Cross-platform digital-first campaigns

https://www.thinkwithgoogle.com/intl/dede/insights/customer-journey/kaufverhalten-undentscheidungsfindung-verstehen/

Jetzt QR-Code scannen & anschauen!

Eintracht Frankfurt as a sales channel

120.000 members are 120.000 potential DFV customers

• Exclusive insurance store for Eintracht members only
• Up to 25% discount on DFV insurance products with testwinning benefits
• Merging of DFV products with the Eintracht world

Spot SGE

25

Implementation of a CRM Factory

Setting up the CRM Factory

• Cross-selling, up-selling and cancellation recovery takes place selectively
• CRM is quite successful, but not "factory-made"
• Establishment of a CRM Factory with up to 30 employees
• Systematic campaigning already starts in 2023

Guidance & Development

Planning and Guidance 2023

Planning 2023 onwards

• 1. Linear new business of €15 million per year
• 2. Expected portfolio volume in primary insurance of €200 million by 2027
• 3. Permanent profitability

Benefits

• Linear marketing expenses
• Growth +4.1% CAGR
• Recoverable losses carried forward until 2026
• Ability to pay dividends from 2027
• No additional capitalization

Measures

• Organic growth
• Innovation leader in the relevant market
• Automated processes
• Compliance with the 12 MB rule
• More direct sales

Guidance 2023

Contribution volume total €194m

Combined Ratio primary insurance 99%

Group result before taxes €3-5M

Deutsche Familienversicherung is an independent, listed digital direct insurer

The year 2023

• Solid growth

• Continuation of profitability

Die DFV bleibt spannend

Unsere nächsten IR-Termine

May 15-17 Equity Forum Frühjahrskonferenz

May 17 Publication Quarterly financial report (reporting date Q1)

May 24 Annual General Meeting

Kontakt:

Head of Investor Relations: Lutz Kiesewetter mail: ir@deutsche-familienversicherung.de tel.: +49 69 743046396

Questions?