Investor Presentaiton

SOLVENCY II RATIO SENSITIVITIES 2021 Starting position Volatility Adjustment: -1 bps UFR -15 bps UFR -50 bps 180% -2% -5% -17% 1 Interest rates: +50 bps 1 -1% 1 Interest rate: -50 bps 4% Corporate bond / mortgages spread: + 50 bps Government bond spreads: + 50 bps 7 Athora Netherlands Equities: -10% -1% HY22 202% -2% Solvency II interest rate sensitivities increased due to convexity effects in SCR and tiering effects. Additional -4% interest rate hedges -13% -15% were put in place mid- August to reduce interest rate sensitivity 15% 15% 6% 9% ■ Sensitivities are countercyclical where the Solvency II ratio increases with higher spreads due to the 9% more conservative asset portfolio vs. the -3% Real Estate: -10% -3% -5% Volatility Adjustment Reference Portfolio 1 Interest rate sensitivities have since been reduced

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