Interim Results

INSURANCE UNDERWRITING INCOME STATEMENT Reported Quota share Underlying HY 2022 Change Underlying HY 2021 Net earned premium £24.2m (£50.2m) £74.4m (12%) £84.1m Other revenue £1.3m £1.3m (55%) £2.9m Revenue Claims costs Reserve releases Other cost of sales A £25.5m (£50.2m) £75.7m (13%) £87.0m BCDE (£23.2m) £47.0m (£70.2m) (10%) (£64.1m) £16.1m (£2.3m) £18.4m 2% (£1.7m) £6.3m (£8.0m) (3%) £18.0m (£7.8m) (£8.8m) £51.0m (£59.8m) (11%) (£53.9m) Gross profit Operating expenses £16.7m £0.8m £15.9m (52%) £33.1m TI F (£1.5m) £3.7m (£5.2m) (4%) (£5.0m) Investment return £1.2m (£2.1m) £3.3m (20%) £4.1m Quota share net income/(cost) (£2.4m) £2.4m 318% (£1.1m) Underlying Profit Before Tax ₤16.4m ₤16.4m (47%) £31.1m Reported loss ratio (B+C)/A 27.8% 68.4% (15.4ppts) 53.0% Expense ratio (D+F)/A 12.5% 17.4% (2.7ppts) 14.7% Reported COR (E+F)/A 40.4% 85.9% (18.2ppts) 67.7% Current year COR (E+F-C)/A 103.5% 110.2% (21.8ppts) 88.4% Number of earned policies 337k (5%) 356k Policies in force - Saga motor 599k (1%) 607k 41 Interim results for the six months ended 31 July 2022 SAGA

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