Investor Presentaiton

Divisional highlights • Direct Insurance Australia (DIA) ~100k additional customers in direct brands Pricing for claims inflation, higher peril allowance and reinsurance costs (GWP growth ex-ESL: motor 6.4%, home 8.6%) Improvement on already strong motor and home retention GWP growth/ underlying margin¹ Intermediated Insurance Australia (IIA) ~9% premium rate increases IAL exit (FY22: GWP ~$140m impact) with benefits to flow through in FY23 Current year impact from strengthened commercial liability assumptions GWP growth / underlying margin¹ New Zealand Positive GWP momentum NZ$ GWP growth of 7.0% Disciplined cost management Stable underlying margin performance GWP growth/ underlying margin¹ 23.2% 21.8% 19.8% 19.2% 4.8% 3.9% 3.3% 8.9% 5.8% 5.7% 5.5% 5.0% 5.1% 3.8% 3.9% 3.2% 18.6% 16.8% 16.8% 7.1% 8.1% 14.3% 8.3% 5.9% 2.8% 2.7% 1.5% 0.3% 1H21 2H21 1H22 2H22 1H21 GWP Growth Underlying margin 2H21 GWP Growth 1H22 2H22 1H21 2H21 1H22 2H22 Underlying margin A$ GWP growth NZ$ GWP growth Underlying margin 6 FY22 Results 12 August 2022 (1) IAG defines its underlying insurance margin as the reported insurance margin adjusted for net natural peril claim costs less the related allowance; prior period reserve releases or strengthening and credit spread movements. iag

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