Interim Results

IMPACT OF CLAIMS INFLATION ON 2022/23 OUTLOOK What we're seeing Inflation pressures across the industry Latest view of inflation is around 13% Plus, secondary factors such as extended repair times and longer credit hire periods Market pricing is beginning to increase but has some way to go What we're doing More cautious prospective view of claims inflation Expected to continue at elevated levels for at least the next six months Reserves adjusted Net rates increased to price to technical profitability hurdles What's the impact? Some pressure on current year underwriting results in 2022/23 and, to a lesser extent, 2023/24 UPBT guidance for 2022/23 reduced from £35-50m to £20-30m Three-year fixed-price broking margins remain robust Current and prospective inflationary pressures factored into goodwill assessment 12 Interim results for the six months ended 31 July 2022 SAGA

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