2022 Update: Fidelidade Insurance Market Leadership

The Life Financial reshaping effort has been de-risking reserves Portugal Life Financial Mathematical Reserves by Product Fixed rate €0.5 B 5% 28% Unit-linked €2.5 B Rates reviewed every €8.6 B 66% 3, 6 or 12 months €5.7 B Fixed Rate Portfolio Maturities Mathematical Reserves (€ M) maturity per year 71 55 59 33 63 49 58 462 167 Maturity 2023 2024 2025 2026 2027- 2030 >2030 Total Average Yield rate (3.26% 3.23% 3.23% 3.17% 3.18% 3.06% 3.19% Cautious underwriting of Life products in 2020-2022 has been focused on non-guaranteed products. The 17% reserve decrease in the last 3 years reflects the reshaping of the Financial Life business. Source: Company information 29 FIDELIDADE

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