Slides
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Earnings results webcast 4Q and full year 2025 January 29th, 2026
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Market leadership with disciplined execution 9.7% 15.1% 7.5% 6.4% 32.7% CAGR: 9.9%* 6,072,305 insured units Figures in thousands of units *CAGR of the last 5 years 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 +1,000 +2,000 +3,000 +4,000 +5,000 +6,000 Source: AMIS, figures at the end of September 2025 38M 76M 1994 2021 2025 Figures in million pesos MXN Top line growth 4 years 27 years history… 2 2x
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3 Strengthening leadership continuity Best-in-class succession plan CEO Bernardo E. Risoul Salas Executive President José Antonio Correa Etchegaray
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31 2 Strengthen our leadership in Mexico Accelerate profitable growth in subsidiaries New business opportunities within insurance ecosystem 4 Sustained value driven by our DNA $75.8B Written premiums 9.4% Top-line growth vs 2024 20.2% ROE 12M 94.1% Combined ratio 2025 highlights ORGANIZATIONAL CULTURE
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Resilient top-line growth %∆ growth in written premiums 2025 vs 2024 *Annual participation in the company´s total written premiums growth 69,276 75,804 2024 2025 20,897 22,233 4Q24 4Q25 +6.4% +9.4% Written premiums %∆ growth vs previous period Premiums in millions pesos Individual 36.8%*; %∆ +7.7% Fleets 26.7%*; %∆ -3.2% ~33%*; %∆ +24.6% Financial institutions QMX 95.5%* Traditional ~63%*; %∆ +2.8%
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Sustainable profitability across markets Earned premiums 16,610 18,022 4Q24 4Q25 61,293 69,323 2024 2025 +8.5% +13.1% EL SALVADOR COLOMBIA QCOL* 0.2% QIC* 1.6% %∆ (15.2%) USA QES* 0.6% %∆ 22.0% COSTA RICA QCR* 1.7% %∆ 20.7% PERU QP* 0.9% %∆ 34.1% %∆ growth in premiums vs previous year, excluding intercompany operations * Annual participation in the company´s total written premiums growth %∆ growth in premiums vs previous year Premiums in million pesos LATAM: %∆ +31.2% EL SALVADOR Q International ~5%*; %∆ +11.9%
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Disciplined execution delivering results 4Q25 102.6% Combined ratio 22.0% Acquisition ratio 3.6% Operating ratio 77.0% Loss ratio Comprehensive financial income Net income $1,225 -21.3% vs 4Q24 $5,110 +3.6% vs 2024 ($190) $5,095 -0.5% vs 2024 4Q25 2025 Total portfolio Yield to maturity Avg. duration years $53.2B 8.4% 2.3 EPS 12M FY ROI ROE 12M $12.7 8.7% 20.2% 2025 94.1% Combined ratio 23.1% Acquisition ratio 5.3% Operating ratio 65.7% Loss ratio *Excluding the VAT effect %∆ growth vs previous year Figures in million pesos MXN 89.3%* 90.6%* 62.2%* $1,493* $6,778* 63.6%* 26.9%*
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8 2026 Expectations Top line High single to low double-digit growth Loss Ratio Higher end of 62–65% target range, or slightly above Acquisition & Operating Ratio Within our historical ranges Combined ratio Upper end of 92%-94% or slightly higher Comprehensive Financial Income Consistent vs PY, given by our fixed-income duration strategy
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Investor Relations ir@qualitas.com.mx