During the day Various transfers from Madrid Airport to Hotel 20:00 -22:00 SB Informal dinner at Mandarin Oriental Ritz - Madrid Nationale-Nederlanden Spain in a snapshot | 04
08:00 – 08:45 Transfer to NN Office 14:30 -16:30 World café experience: bringing Spain’s strategy to life 08:45 - 09:15 Welcome coffee 16:50 Transfer to Hotel / freshen-up 09:15 - 11:00 Spain - Outside view with external speakers 17:30 -18:30 Drinks and snack in the hotel 18:30 -20:20 Free time 20:20 – 20:30 Walk to Museo del Prado. Meeting point: Puerta de los Jerónimos Museo del Prado 20:30 -22:30 Private guided tour and dinner at Museo del Prado 09:15 -10:10 Spain Macro Outlook (Luis de Guindos) - Spanish economist and politician, former vice president of the European Central Bank 10:15 - 11:00 Spain Insurance Market Outlook – External Speaker from Oliver Wyman Spain strategy consulting 11:00 - 11:30 Coffee break 11:30 - 13:30 NN NN Spain strategy update NN Digital Hub Madrid/Oxygen 13:30 – 14:30 Lunch Nationale-Nederlanden Spain in a snapshot | 05
08:00 Transfer to NN Office 08:45 - 09:15 Welcome coffee 09:15 - 10:45 Talents and meet and greet 10:45 – 10:50 Group photo SB/MB/ Spanish MT 10:50 – 11:00 Break 11:00 – 12:00 Deep-dive Future Ready (SB and MB) 12:00 – 12:45 Supervisory Board Closed Session (including lunch) 12:00 – 12:45 Management Board, Spanish MT and Leadership team (including lunch) As of 13:30 Various transfers from NN Office to Madrid Airport Nationale-Nederlanden Spain in a snapshot | 06
most influential voices in Europe on economics, financial stability and institutional leadership. Luis de Guindos Former Vice-president Vice-President of the European Central Bank (ECB) since 2018 until August 2026. Previously served as Spain's Minister of Economy and Competitiveness from 2011 to 2018. Prior experience includes leadership positions in both the public and private sectors, including Lehman Brothers, PricewaterhouseCoopers (PwC), AB Asesores, and academia. Nationale-Nederlanden Spain in a snapshot | 0 9
of experience advising insurers, banks and asset managers, with involvement in 500+ strategy and performance transformation projects. Has helped generate over $4 billion in economic value for clients through growth, innovation and transformation initiatives. Giambattista Taglioni Lead of Insurance and Asset Management Practice in South Europe Recognised expert in: • • • • • • Growth strategy Operating model design Performance transformation Risk and capital management Reinsurance AI and GenAI applications in insurance Nationale-Nederlanden Spain in a snapshot | 1 0
van Gemert Head of PDM Ops and Transformation Rocío Salas Head of Quality and Customer Engagement Bárbara Tábara Comms and Brand Coordinator Carolina Corti Growth Lead Nationale-Nederlanden Spain in a snapshot | 12
Verónica Fernández Manuel López-Serrano Head of Digital Agent Experience Lara García Direct Channel Implementation Manager Claudia Jiménez Portfolio Development Lead and Partnerships Head of Finance Ignacio Berenguer Investment Analyst Sara García Head of Procurement Nationale-Nederlanden Spain in a snapshot | 13
Risk José Manuel Castro Head of Actuarial Francisco Javier Romero Head of Valuation and Reporting IT Francisco Pachón Head of Enterprise Architecture Rubén del Campo Head of AI and Business Automation Cristina Percival Operations Risk Analyst Nationale-Nederlanden Spain in a snapshot | 1 4
Araceli Ranchal CEO Business Manager & ESG and HR Data Steward Victor Antunes Legal Technician Employee Experience Caterina Magdaleno HR Business Partner Marta Sastre HR Business Partner Nationale-Nederlanden Spain in a snapshot | 1 5
Abby Moreno DevOps Infra Engineer Ruben Mijnhardt IT Manager Digital Hub - Oxygen Heng Wu Ye DevOps Application Engineer Silvia Martín Head of Design Team Denisa Sebenová HR Business Partner Nationale-Nederlanden Spain in a snapshot | 16
first international market since 1978 ~850k ~600 +3,100 +48 customers across Spain employees Sellers: +2100 agents + 1000 referrers +250 point of sales years in Spain organically grown BUSINESS Life NN Vida, S.A.E. Savings & investment (Grow Guarantee, SIALP, unit-linked), life protection, pensions, group life DISTRIBUTION CHANNELS Non-life NN Generales, S.A.E. Health (strategic line), home, accidents, payment protection. Tied Agents Bancassurance Nationwide tied agents, offices & franchises Strategic partnerships with ING (2014) and pilot with Abanca (2026) Employee Benefits Digital & hybrid Group insurance business NN App, Agent Digital Office, human + digital service Nationale-Nederlanden Spain in a snapshot | 1 8
financial figures 2025 Operating capital generation EUR 41.3 M Customers YTD Solvency II-ratio 157% GWP EUR 720 M Society NPS-r NN Spain Employee engagement Tu Techo partnership (Q2 2026 close) (Peakon survey) (social homes insured) Above market +12 positions 8.1 +450 IFRS 17 (operating result) EUR 79.7 M People Most recommended Life Savings company (vs. market, 2024) #1 Net customer growth (2025) +8,5% Gender diversity in senior management positions 44% women 56% men People in vulnerable situations benefits +7.500 (vs 7.200 Target) Donations +280k donated to our Social Partners Digital & data-driven Data & AI use cases +30 Customer interaction through digital channels +80% Sales from digital leads +30% Operations through the app +15,000 Top-ups through the app +EUR 20 M Nationale-Nederlanden Spain in a snapshot | 1 9
Excellent Customer Engagement Building long-lasting relationships by leveraging strong distribution channels, partnerships, and digital capabilities Customer Experience Evolve to the Commercial Network Development of a highly productive and customercentric commercial network through digital capabilities and human interaction Digitalization & AI Global platforms: Salesforce, NN Oxygen, NN Services, MS Azure Cloud among others 100% cloud-based 7,9% IT systems ; >400 APIs . We harness data monetization and AI‑ first experiences to elevate customers and agents, optimize operations, and drive AI‑ powered innovation on a strong data foundation and a global agentic AI platform. Focus on Protection Offering a wide range of protection solutions and support capabilities that add value to both customers and the Company Employee Engagement Nationale-Nederlanden Celebrates 11 Consecutive Years as Top Employer Spain and 7 Years as Top Employer Europe Society Its corporate social strategy is based on: Community investment; diversity and inclusion and sustainability (80% ESG portfolio) Innovation Investment in technology and data Construction of agile and robust IT systems that allow rapid coupling with entities with which commercial agreements are maintained Corporate Social Responsibility 3,7% Spain's Key Successes Driven by Organic Growth. 3,6% 1º Assurbanking network Spain's Leading Mortgage Insurance Distributor Life-Savings and Life-Risk company most recommended by its clients compared to the market average in 2024. 4,9% Unique and innovative product proposal in: (1) savings,4,8% with a range of state-ofthe-art guaranteed products, being one of the few entities with a focus on Unit4,2% Linked products, (2) protection (individual and collective) 5,2% 3,2% NN Group is included in the FTSE4Good Index Series that recognizes the performance of companies demonstrating strong environmental, social and governance (ESG) practices. 1º Leader in UL SIALP Sialp: Main tax savings scheme 6º and 13th #6 In GWP in Group business and #13 in life insurer by reserves (2025) 78.7% NPS Purchase Q42025 Nationale-Nederlanden Spain in a snapshot | 2 0
channels (2025) Life-risk Health Savings Home Accidents • Life link to mortgage (Bank) • Health Complete • Unit Linked with guarantee • Home link to mortgage • Accidents for retail • Life standalone (Bank) • Health Copayment • Unit-Linked • Home standalone for Bank • Accidents for Corporate • Life standalone (TA) • Health Copayment Self-employed • Traditional Savings • Home for TA channel • Accidents for SMEs • Life standalone (Corporate) • Health-Accident for Seniors • Pension Plans • Home Digital Payment Protection • Specific solution for banks (Death, Disability, Temporal disability, Unemployment, Hospitalization) • Deaccumulation solutions • Keyman (Corporate) • Accumulation for Corporate • Deaccumulation for Corporate GWP 145.6M€ GWP 4,1M€ New business line GWP 495M€ 4Bn€ in AUM GWP 64M€ GWP 6M€ GWP 8.2M€ Nationale-Nederlanden Spain in a snapshot | 2 1
experience through our enhanced digital ecosystem Self‑ management You can manage all your products in one place, track how your savings evolve… whatever you need! Personal Manager You will have a personal manager available to help you whenever you need it. Promotions Want to save on your purchases? Enjoy multiple discounts and our exclusive Cashback service. Explore Products Discover and review all our products and estimate the price of your new insurance with our calculators. Nationale-Nederlanden Spain in a snapshot | 2 2
Investment Solutions (I‑ GG) +1.3B€ AUM in I-GG #1 in SIALP In the Spanish market iGG Solutions • • • • • • • Distribution of policies by annualized return (IRR) as of 31.12.2025 Accumulation - Tax SIALP (retail) - Non tax (retail) - Corporate Pension commitment De-accumulation - Annuities - in development - (retail) I‑ GG concept: the new generation of NN savings products with investment guarantees Daily and growing investment guarantee, based on the highest value reached by the investment Daily rebalancing between funds (Equities) and protective assets (cash and deposits) Liquidity: customers have a daily minimum surrender value (guaranteed investment value) No fixed duration required to provide the guarantee Individualization: each policy is linked to each customer as an “individual investment fund” Adapted to different tax frameworks: SIALP, PIAS, UL, annuities, etc. Distribution of policies by guarantee level as of 31.12.2025 Nationale-Nederlanden Spain in a snapshot | 2 4
innovative solution for a fast‑ growing market (WIP) A solution for those who want to receive a regular and growing income but not at any price. No worries, whether you are familiar with investing in the stock market or if you have no knowledge. With the peace of mind of having a guarantee, no matter what. Possibility of increasing your monthly income Guarantee on the value of the investment Total Flexibility Tax Benefits Growing monthly income: payments can increase with market performance thanks to equity exposure. Capital protection: investment value is guaranteed at maturity (95% of premiums net of annuity payments). Full flexibility: customers can access their money at any time, subject to tax adjustment. Strong tax efficiency: income is taxed at a reduced rate based on age, with additional tax advantages for customers over 65. Why an I-GG annuities is the most innovative annuity solution? Nationale-Nederlanden Spain in a snapshot | 2 5
Clients’ Needs A life‑ risk solution that evolves and adapts to clients’ needs, allowing coverage to be added, modified or cancelled at any time. Customer satisfaction 100% digital, needs‑ based sales model, ensuring a personalized protection approach A wide range of coverage options, with insured capital from €2,000 up to €1,000,000. Unique in the market, offering cumulative and independent guarantees, so customers are covered for every cover they contract. Acquisition of new customers Commitment Discounts of up to 20% on death, permanent absolute disability and/or illness coverage, plus an additional 10% for healthy lifestyle habits. 81% 70% +50% NPS purchase New customers TA flagship product: +50% average premium vs. traditional life. Value‑ added services included in the policy Medical chat app Legal chat app Comprehensive Home & Care Support Support with administrative procedures, including inheritance Nationale-Nederlanden Spain in a snapshot | 2 6
in retail Home insurance business Full ownership of product design, underwriting and pricing, from simple tariffs to advanced, risk‑ based pricing. Products Pricing 64M€ +8.2% 235k GWP in 2025 Home GWP growth vs 7.4% market in 2025 Policies in force in Home business • • • • • Dynamic pricing Claims/behavior‑ based pricing (Bonus‑ Malus calibration) Segment‑ level elasticity & price optimization (testing + guardrails) Home link to mortgage Home standalone for Bank Home for TA channel Home Digital Bank link to mortgage Bank standalone TA channel Digital We cover all types of homes (except short‑ term holiday rentals), with high coverage limits: up to €1M for buildings, €120k for contents and €300k in liability We offer both packaged and modular products tailored to customer needs from basic to premium solutions, across all channels Capability What We Bring Why It Matters to You Modular product architecture Flexible tiers from Basic to Premium Sell to multiple customer segments without new product development Premium features New-for-old cover, payback, devices, full accidental damage Highly marketable differentiators in the Spanish retail market Pricing & risk selection NN Group-backed actuarial intelligence and data Sustainable profitability beyond volume growth Portfolio knowledge Deep experience from existing book of business Proven loss ratios and clear underwriting boundaries Nationale-Nederlanden Spain in a snapshot | 2 7
and remuneration policies for employees and executives +25-year experience • • • • Over 13,300 clients, including 16 of the 35 top companies quoted in the IBEX 35® Spanish Stock Market, public institutions, multinationals and SMEs More than 346,000 insured Multinationals and expatriates. €1,2bn AuM Total accessibility and availability Corporates Dedicated Collective Business support team Portfolio management by specialized Consultants Personalized support for Policyholders and Intermediaries Assistance with coverage, administration, and tax queries ü High client satisfaction (NPS 57.6%) ü High client retention (97%) #6 ranking in group insurance (Life premium 2025, 50 entities) Insureds Dedicated Customer Service Department for policy‑ related queries Support available Monday to Friday, 8:30–19:00Reduced summer hours in August (8:00–15:00) Nationale-Nederlanden Spain in a snapshot | 2 9
support corporate pension commitments Plan Creciente Empresas An innovative retirement savings insurance with a daily guarantee, designed to support pension commitments. Unit Linked Empresas Single or regular premium solution designed to instrument pension commitments, investing employer and employee contributions across a wide range of funds, in line with the selected investment strategy Ciclo de Vida Empresas Structured as a unit‑ linked solution to instrument pension commitments, it invests employer and employee contributions in investment funds through an age‑ based strategy, focusing on growth in the early years and capital protection as retirement approaches. Daily and increasing guarantee Wide fund selection Tailor‑ made design The guarantee is consolidated daily and grows in line with the investment performance. Offers a comprehensive range of investment funds from different asset managers, allowing the company to select those best aligned with its investment strategy Companies can select their investment strategy based on employees’ age, or It may exceed 100% of paid premiums. Two guarantee levels: 80% or 85%. Dynamic investment management Capital is allocated daily, based on market trends, into equity investment funds to seek returns, and capital‑ protection assets to limit risk and safeguard the investment. Cost‑ free flexibility Allows unlimited fund switches at no cost, enabling continuous adaptation of the investment strategy to changing market conditions. Choose the Nationale‑ Nederlanden Life Cycle strategy Fee‑ free switches Allows changes to funds and investment strategy at no cost to the company or the participant. The strategy can be adapted to market conditions, fund performance, or changes in retirement age. Nationale-Nederlanden Spain in a snapshot | 3 0
transitions and retirement income Employment Termination Plan Temporary Annuities and Life Annuities Temporary annuity insurance designed to help companies manage employee termination processes. Insurance solutions that complement the public retirement pension and allow employees to receive benefits on a regular, periodic basis. In Nationale-Nederlanden Employee Benefits Key Features • • Conducts individualized assessments, ensuring compliance with the agreements reached with employees, both individually and collectively. Supports the company in communicating the Plan to employees. Financial stability for employees Clear visibility of future income received as annuities and contributions in accordance with the applicable collective bargaining agreement. Savings for the company Financial optimization through capitalization of unused premiums. Improved workplace climate: A less traumatic way to manage workforce reductions. • • Payment options: temporary annuities with different durations or life annuities, payable for the lifetime of the employee. In the event of the insured’s death, beneficiaries will receive the outstanding payments according to the selected reversion percentage Tax efficiency for employees Reduces the tax impact at the time retirement benefits are received. Flexibility Tailored to the employee’s needs in terms of duration and benefit amounts. An effective solution for capital withdrawal: An alternative way to receive accumulated capital from pension plans and retirement insurance products. Nationale-Nederlanden Spain in a snapshot | 3 1
Profiles Group Life-risk Insurance Annual renewable group insurance supporting pension commitments under collective agreements and supplementary benefits. • • Covers Seguro Keyman Group Accident Insurance Annual renewable temporary group life insurance providing protection for key employees Annual renewable temporary group insurance providing coverage in the event of permanent disability due to accident and death due to accident. Main coverage: guaranteed capital in case of death. Optional covers: o Death due to accident or traffic accident o Total Permanent Disability due to accident or traffic accident o Absolute Permanent Disability due to accident or traffic accident o Severe Disability • • Main coverage: death due to accident. Optional covers: o Death due to traffic acc. / myocardial infarction / Additional death o Total Permanent Disability due to accident or traffic accident o Absolute Permanent Disability due to accident or traffic accident o Severe Disability due to accident o Partial Permanent Disability due to accident o Medical Assistance Tailor‑ made design VIP medical underwriting No medical requirements Adapted to the specific characteristics of each employee group. Personalized assessment. No medical underwriting required for enrolment. Fast and streamlined UW Fast and streamlined underwriting Fast and streamlined UW Free Cover Limit and automatic policy accession. Allows management of unnamed / open policies With special terms and conditions. Profit participation may be applied based on claims experience, depending on the number of insured employees Protection for the company: The policyholder is the beneficiary. Collective agreements: Supports the company’s pension commitments, adapted to the specific characteristics of each employee group Nationale-Nederlanden Spain in a snapshot | 3 2
and experience. Average experience in the insurance of over 20 years. Executive variable remuneration linked to NN Group’s medium term strategic priorities and based on both financial and non financial performance. CHRO: vacancy Nationale-Nederlanden Spain in a snapshot | 3 4
by our customers on average in the life-savings insurance sector (GFK 2016-2020 and Stiga 2021). Life-Savings and Life-Risk Company most recommended by its customers compared to the market average in 2025. Nationale-Nederlanden Spain in a snapshot | 3 5
contribution to society One of our strategic commitments as a company is to support the well-being of people and the planet, and to actively engage with the society in which we operate. We do this by working on three pillars: community investment, diversity and inclusion, and sustainability, aligned with the United Nations Sustainable Development Goals. For Nationale-Nederlanden Spain, diversity and inclusion are key to the way we understand our company. Our brand promise is “You Matter”, because everyone who works with and collaborates with Nationale-Nederlanden matters, regardless of their characteristics. That is why our culture is designed with each and every person in mind. Organitzations we collaborate with: Aldeas Infantiles, Unoentrecienmil, TuTecho, Alapar, Adopta un abuelo, Save the Children, and Junior Achievement. Nationale-Nederlanden Spain in a snapshot | 35
techseoconnect
csswizardry
reverentgeek
matthewcrist
kimpetersen
lindahogenes
uxyall
jacobian
codingconduct
shlominoach
twada
rkendrick25
