Investor Presentaiton

Accounting policies and methodological choices - IFRS 17 (cont'd) Measurement models (PAA, GMM, VFA) Discount rate curve OCI option for insurance finance income/expense AXA ►60% of PAA (99% of P&C), 24% of VFA and 11% of GMM Remaining 5% business to be in asset management Bottom-up approach RFR ILP (framework similar to SII) ► Applied disaggregation approach CNP Assurances BBA for term creditor and disability/health insurance (4%-9%) VFA for direct participating savings/pensions and unit-linked savings contracts (94.9%) PAA for disability/health insurance group and P&C (0.2%) ►Bottom-up approach: a Solvency II-inspired yield curve: risk-free rate + liquidity premium (e.g., on initial application in France a volatility adjustment at 64 bps) ►OCI option activation to the liabilities balance sheet in VFA and BBA Generali Great-West Lifeco ►For life: 96% VFA, 4% GMM Not commented For P&C: 99% PAA, 1% GMM Bottom-up approach aligned with S2 RFR + ILP HISCOX PAA ► Not commented RFR + ILP Changes in discount rates reported through OCI (non-VFA) Not commented ► Not commented 32 Market updates on impact of IFRS 17 and IFRS 9 EY

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