Scor : Présentation en anglais

Disclaimers

General

Numbers presented throughout this document may not add up precisely to the totals in the tables and text. Percentages and percent changes are calculated on complete figures (including decimals); therefore, the document might contain immaterial differences in sums and percentages due to rounding. Unless otherwise specified, the sources for the business ranking and market positions are internal.

Forward-looking statements

This document includes forward-looking statements, assumptions, and information about SCOR's financial condition, results, business, strategy, plans and objectives, including in relation to SCOR's current or future projects.

These statements are sometimes identified by the use of the future tense or conditional mode, or terms such as "estimate", "believe", "anticipate", "expect", "have the objective", "intend to", "plan", "result in", "should", and other similar expressions.

It should be noted that the achievement of these objectives, forward-looking statements, assumptions and information is dependent on circumstances and facts that arise in the future.

No guarantee can be given regarding the achievement of these forward-looking statements, assumptions and information. These forward-looking statements, assumptions and information are not guarantees of future performance. Forward-looking statements, assumptions and information (including on objectives) may be impacted by known or unknown risks, identified or unidentified uncertainties and other factors that may significantly alter the future results, performance and accomplishments planned or expected by SCOR.

In particular, it should be noted that the full impact of the inflation and geopolitical risks including but not limited to the Russian invasion and war in Ukraine on SCOR's business and results cannot be accurately assessed.

Therefore, any assessments, any assumptions and, more generally, any figures presented in this document will necessarily be estimates based on evolving analyses, and encompass a wide range of theoretical hypotheses, which are highly evolutive.

These points of attention on forward-looking statements are all the more essential that the adoption of IFRS 17, which is a new accounting standard, results in significant accounting changes for SCOR.

Information regarding risks and uncertainties that may affect SCOR's business is set forth in the 2022 Universal Registration Document filed on 14 April 2023, under number D.23-0287 with the French Autorité des marchés financiers (AMF) posted on SCOR's website www.scor.com.

In addition, such forward-looking statements, assumptions and information are not "profit forecasts" within the meaning of Article 1 of Commission Delegated Regulation (EU) 2019/980.

SCOR has no intention and does not undertake to complete, update, revise or change these forward-looking statements, assumptions and information, whether as a result of new information, future events or otherwise.

Financial information

The Group's financial information contained in this document is prepared on the basis of IFRS and interpretations issued and approved by the European Union.

Unless otherwise specified, prior-year balance sheet, income statement items and ratios have not been reclassified.

The calculation of financial ratios (such as economic value per share, return on invested assets, regular income yield, management expenses ratio, return on equity and combined ratio) is detailed in the Appendices of the presentation related to the financial results of Q4 2023 (see page 32).

The financial results for the full year 2023 included in this document have been audited by SCOR's statutory auditors.

Unless otherwise specified, all figures are presented in Euros. All figures are at constant exchange rates as of December 31, 2023 unless otherwise specified.

Any figures for a period subsequent to December 31, 2023 should not be taken as a forecast of the expected financials for these periods.

The solvency ratio is not audited by the Company's statutory auditors. The Group solvency final results are to be filed to supervisory authorities by April 2024 and may differ from the estimates expressed or implied in this report.

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Key messages

Improved FY 2023 net income of EUR 780m1 (EUR 812m reported) supported by all business activities Nat Cat claims well under budget enabled by re-underwriting

Strong balance sheet with P&C reserves at best estimate confirmed by a third-party review (WTW) Strong solvency at 209% and EV growth above target, enabling a regular dividend of EUR 1.8per share Strategic capital allocation to the most profitable lines while benefiting from high diversification Successful 1.1.2024 P&C renewals with a price increase of +3.1%

Focus on the delivery of Forward 2026 with profitable growth

Attractive FY 2023 DPS, setting a floor for future years

FY 2023 results proved the effectiveness of our diversified business model

Enables a consistent earnings stream, with the prudent investment

of assets matching insurance liabilities and capital

Investments

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Focus on the delivery of Forward 2026

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