FULLTEXT DEL 1 AV 1
Kvartalsrapport Q3 2025
===== SIDA 1 ===== ===== SIDA 2 ===== Contents Summary .............................................................................................................................................................................. 3 Group CEO’s comment ................................................................................................................................................... 4 Outlook ................................................................................................................................................................................. 5 Outlook for 2025 ..................................................................................................................................................................... 5 The major risks and uncertainties for the Group in the near-term ........................................................................ 5 Financial overview ........................................................................................................................................................... 7 Financial highlights .......................................................................................................................................................... 8 Third quarter 2025 in brief ........................................................................................................................................... 10 Segments ............................................................................................................................................................................. 11 Private Nordic ........................................................................................................................................................................... 11 Private UK .................................................................................................................................................................................. 12 Nordic Commercial ................................................................................................................................................................. 13 Nordic Industrial ..................................................................................................................................................................... 14 Net financial result and other items .......................................................................................................................... 15 Financial position ............................................................................................................................................................. 17 Group solvency ........................................................................................................................................................................ 17 Financial leverage position .................................................................................................................................................. 17 Ratings ........................................................................................................................................................................................ 17 Other developments ....................................................................................................................................................... 18 Sale of shares in NOBA Group ............................................................................................................................................ 18 Changes in Group’s financial debt ..................................................................................................................................... 18 Shares and shareholders ....................................................................................................................................................... 18 Remuneration ........................................................................................................................................................................... 19 Personnel .................................................................................................................................................................................... 19 Events after the end of the reporting period ................................................................................................................ 19 Calculation of key figures ............................................................................................................................................. 22 Tables .................................................................................................................................................................................... 25 Statement of profit and other comprehensive income ............................................................................................. 25 Consolidated balance sheet ................................................................................................................................................ 26 Statement of changes in equity ......................................................................................................................................... 27 Statement of cash flows ....................................................................................................................................................... 28 Notes ..................................................................................................................................................................................... 29 Accounting principles ............................................................................................................................................................ 29 Segment information ............................................................................................................................................................. 31 Other notes ......................................................................................................................................................................... 33 1 Insurance service result ...................................................................................................................................................... 33 2 Net investment income ...................................................................................................................................................... 34 3 Net finance income or expense from insurance contracts ................................................................................... 35 4 Other income ........................................................................................................................................................................ 35 5 Financial assets ................................................................................................................................................................... 36 6 Insurance contract liabilities .......................................................................................................................................... 37 7 Financial liabilities ............................................................................................................................................................... 38 8 Acquisition of Topdanmark's non-controlling interest ......................................................................................... 39 9 Subsequent events after the balance sheet date ................................................................................................... 40 INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 2 ===== SIDA 3 ===== Sampo Group’s results for January- September 2025 • Like-for-like top-line growth stood at 8 per cent as the Group continued to see strong momentum across private and SME lines with an acceleration of growth in Private Nordic. • The underwriting result increased by 17 per cent on a currency adjusted basis to EUR 1,121 million, fuelled by solid top-line growth and strong margins. • Operating EPS strengthened by 14 per cent on the increase in the underwriting result. • To reflect the strong results achieved to date and firm confidence in the Group’s prospects, the Board has decided to increase the operating EPS growth target for 2024-2026 to more than 9 per cent annually on average from more than 7 per cent. • Reported EPS increased by 40 per cent, supported by EUR 355 million net gain on NOBA in the third quarter following its successful IPO in September. • Sampo will launch a new EUR 150 million share buyback programme funded by the sale of NOBA shares in connection with the IPO. • Solvency II coverage came in at 172 per cent, net of dividend accrual and the new buyback programme, and financial leverage amounted to 24.5 per cent. “The strong and sustained growth delivered by our retail and SME divisions shows that our organic growth strategy has traction. Private Nordic stood out with a fourth consecutive quarter of record GWP growth, this time measuring 10 per cent. I am pleased to see that the investments we have made into our customer proposition are translating into solid retention rates and higher customer numbers. On the back of excellent performance, we have raised our operating EPS target as we look to 2026 with confidence and ambition.” Morten Thorsrud, Group CEO Key figures EURm 7–9/2025 7–9/2024 Change, % 1–9/2025 1–9/2024 Change, % Gross written premiums 2,218 2,088 6 8,461 7,718 10 Insurance revenue, net 2,303 2,137 8 6,755 6,214 9 Underwriting result 392 374 5 1,121 955 17 Net financial result 549 128 328 836 573 46 Profit before taxes 866 432 101 1,769 1,340 32 Net profit 757 320 136 1,460 973 50 Operating result 366 297 23 1,031 846 22 Earnings per share (EUR) 0.28 0.13 122 0.54 0.39 40 Operating EPS (EUR) 0.14 0.12 16 0.38 0.34 14 7–9/2025 7–9/2024 Change 1–9/2025 1–9/2024 Change Risk ratio, % 58.1 57.5 0.6 57.9 59.5 -1.6 Cost ratio, % 24.9 25.0 -0.2 25.5 25.1 0.4 Combined ratio, % 83.0 82.5 0.5 83.4 84.6 -1.2 Solvency II ratio (incl. dividend accrual), % — — — 172 177 -5 Gross written premiums (GWP) and insurance revenue include broker revenues. Like-for-like GWP growth is calculated by using constant currency rates and it is adjusted to exclude potential technical items affecting comparability, such as portfolio transfers, changes in inception dates for large contracts, and changes in accounting methods. Net profit for the comparison period refers to Net profit for the equity holders. Per share figures for the comparison period are adjusted for the share split in February 2025. The figures in this report have not been audited. INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 5 November 2025 3 ===== SIDA 4 ===== Group CEO’s comment Operational momentum remained excellent in the third quarter, as we continued to execute on our organic growth strategy. To reflect sustained strong performance, we have increased our operating EPS target for the 2024-2026 strategic period to more than 9 per cent, as we look to 2026 with confidence and ambition. The Sampo that I became the CEO of on 1 October is a retail and SME focused P&C insurance group with a uniquely attractive operational profile. Through leading positions in eight markets across Northern Europe, we enjoy substantial scale economies and diversification that bring both efficiency and stability. As a mainly direct insurer without physical distribution, we have mastered the art of digital P&C insurance, which we believe will continue to become ever more important. Meanwhile, our exclusive Nordic motor insurance partner network gives us outstanding customer reach, both in sales and service, and unique insight into rapidly changing vehicle technology. Put succinctly, Sampo is in an enviable position to meet the needs of current and future P&C insurance customers. Strategically, our focus is on leveraging our cutting-edge capabilities to drive organic growth at attractive margins. Our ambitions are supported by extensive investments into digitalisation, distribution power, and customer service through which we aim to enhance our customer reach and competitive position. At the same time, these investments are always made in a disciplined manner, allowing us to pair improvements in our customer proposition with efficiency gains. We see potential long term growth opportunities across our entire retail and SME footprint, although the vigour by which we pursue these will always depend on market conditions. We expect to be able to outgrow the market in Nordic personal insurance, private property and SME, as well as in digitally sold UK motor and home insurance. In combination, these lines account for more than half our business. In addition, our first-rate Nordic mobility franchise puts us in pole position to benefit from a potential normalisation of new car sales, and we see an opportunity to leverage our increased scale in Denmark to gain new customers and partnerships. We are the largest P&C insurer in the Nordic region, but we are not yet the market leader in any one country, and we see this as a clear opportunity. The sustained and broad-based premium growth we have delivered in the last few years shows that our organic growth strategy is working. The third quarter was no exception, as we delivered GWP growth of 8 per cent at the group level anchored in positive momentum across our retail and SME segments. Private Nordic achieved a particularly notable 10 per cent increase in GWP in a fourth consecutive quarter of record growth, driven by solid retention and increasing customer numbers. At the same time, underwriting discipline remains firmly in our DNA as we actively reduced growth in Private UK and in Nordic Industrial to secure margins. Historically, Denmark has been our soft spot but the acquisition of Topdanmark last year has provided us with an opportunity to address this. The integration is moving ahead at pace, with the third quarter seeing a spike in synergy realisation that means we have achieved the 2025 target of EUR 24 million one quarter early. As the surge appears attributable to timing differences, we stick to our EUR 140 million synergy target for 2028, albeit with increased confidence. Given the strong financial performance over the strategic period to date, we have decided to increase our operating EPS growth target for 2024-2026 to more than 9 per cent from the more than 7 per cent set in 2024. The increase shows that we have confidence in our strategy and ability to execute on it, and that we lean into 2026 with ambition. Turning to capital returns, the end of September saw the IPO of leading European consumer bank NOBA, which generated around EUR 150 million in proceeds for Sampo as we reduced our holding from 20 per cent to 15 per cent. We will use the proceeds to launch a new share buyback programme, in line with our disciplined approach to capital management. To conclude, I am pleased to be able to report strong results in my first quarter as CEO, and I believe that Sampo is in an excellent position to deliver also in the future. Morten Thorsrud Group CEO INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 Group CEO’s comment 4 ===== SIDA 5 ===== Outlook Outlook for 2025 The third quarter saw strong underlying growth and margins development, while the benefit of benign weather and large claims was offset by low prior year development. Further, the Nordic region was hit by Storm Amy at the beginning of October, driving significant claims cost, and the Group remains exposed to potential further weather losses as the fourth quarter is very much a winter quarter. Hence, the outlook for 2025 remains unchanged from that given with the half-year 2025 results. • Group insurance revenue: EUR 8.9–9.1 billion, representing growth of 6–9 per cent year-on-year. • Group underwriting result: EUR 1,425–1,525 million, representing growth of 8–16 per cent year-on-year. Any forecast of Sampo’s underwriting result is subject to estimates for weather claims, large claims, prior year development, and certain other items that may vary periodically and are out of Sampo’s control, meaning regular updates of the forecast are needed to reflect actual outcomes. Moderate deviations against normal and budget levels are typical on a quarterly basis, and Sampo intends to broadly reflect these in the outlook statement in its quarterly reports. In addition to the underwriting result, Sampo derives a material share of its earnings from returns on its investment portfolio and insurance finance income and expense, meaning changes in the outlook cannot be assumed to translate one-for-one into net profit. Sampo does not provide an outlook for its net financial result. The outlook for 2025 is consistent with Sampo’s 2024–2026 financial targets of delivering a combined ratio below 85 per cent annually and operating EPS growth of more than 9 per cent annually on average. The outlook is subject to uncertainty related to occurrence and estimation of the cost of P&C claims, foreign exchange rates, and competitive dynamics. Revenue forecasts, in particular, are subject to competitive conditions, which may change rapidly in some areas, such as the UK motor insurance market. The revenue and underwriting profit figures in the outlook are based on currency exchange rates as of the latest reporting date. A full explanation of the alternative performance metrics used in the Outlook can be found in the section Calculation of key figures. The major risks and uncertainties for the Group in the near-term In its current day-to-day business activities Sampo Group is exposed to various risks and uncertainties, mainly through its major business units. Major risks affecting the Group companies’ profitability and its variation are market, credit, insurance, and operational risks. At the Group level, sources of risks are the same, although they are not directly additive due to the effects of diversification. Uncertainties in the form of major unforeseen events may have an immediate impact on the Group’s profitability. The identification of unforeseen events is easier than the estimation of their probabilities, timing, and potential outcomes. Macroeconomic and financial market developments affect Sampo Group primarily through the market risk exposures it carries via its insurance company investment portfolios and insurance liabilities. Over time, adverse macroeconomic effects could also have an impact on Sampo’s operational business, for example, by reducing economic growth or increasing claims costs. Euro area inflation is currently expected to stay close to the central bank target. However, the future development of consumer prices is uncertain. The impact of trade restrictions on inflationary pressures has remained muted but takes place with a delay and energy prices continue to be vulnerable to geopolitical events. Furthermore, domestic price pressures could continue to keep inflation elevated unless labour markets continue to loosen as currently expected. This in turn creates uncertainty on the future path for interest rates. At the same time, trade disputes are expected to depress economic growth in Europe as investments and consumption are held back. These developments may lead to both a significant slowdown in economic growth and a deterioration in the debt service capacity of businesses, households, and governments, raising the risk of abrupt asset repricing in financial markets. INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 Outlook 5 ===== SIDA 6 ===== Furthermore, geopolitical risks may have major economic effects. These developments are currently causing significant uncertainties in economic and capital market development. At the same time, rapidly evolving hybrid threats create new challenges for states and businesses. There are also a number of widely identified macroeconomic, political, and other sources of uncertainty which can, in various ways, affect the financial services industry in a negative manner. Sampo Group’s insurance exposures in Russia or Ukraine are limited to certain Nordic industrial line clients with coverage subject to war exclusions. On the asset side, Sampo has no material direct investments in Russia or Ukraine. Given the limited direct exposure, the biggest risk from the war in Ukraine to Sampo relates to the second order capital markets and the macroeconomic effects outlined above. Other sources of uncertainty are unforeseen structural changes in the business environment and already identified trends and potential wide-impact events, sometimes driven also by regulatory uncertainty. These external drivers may have a long-term impact on how Sampo Group’s business will be conducted. Examples of identified trends are demographic changes, climate change, and technological developments in areas such as artificial intelligence and digitalisation including threats posed by cybercrime. INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 Outlook 6 ===== SIDA 7 ===== Financial overview 7–9/2025 7–9/2024 1–9/2025 1–9/2024 2024 Gross written premiums (incl. brokerage) EURm 2,218 2,088 8,461 7,718 9,931 Insurance revenue (incl. brokerage), net EURm 2,303 2,137 6,755 6,214 8,386 Claims incurred, net EURm -1,338 -1,228 -3,913 -3,700 -4,948 Operating expenses and claims handling costs EURm -573 -535 -1,721 -1,559 -2,122 Underwriting result EURm 392 374 1,121 955 1,316 Net investment income EURm 554 340 927 818 888 Net insurance finance income or expense EURm -5 -212 -91 -245 -252 Net financial result EURm 549 128 836 573 636 Other items EURm -75 -70 -188 -188 -392 Profit before taxes EURm 866 432 1,769 1,340 1,559 Net profit EURm 757 320 1,460 973 1,154 Key figures Earnings per share EUR 0.28 0.13 0.54 0.39 0.45 Operating EPS EUR 0.14 0.12 0.38 0.34 0.47 Risk ratio % 58.1 57.5 57.9 59.5 59.0 Cost ratio % 24.9 25.0 25.5 25.1 25.3 Combined ratio % 83.0 82.5 83.4 84.6 84.3 Nordic operating cost ratio % 22.0 21.9 22.5 22.3 22.7 Like-for-like GWP growth % 7 8 8 10 12 Solvency II ratio (incl. dividend accrual) % — — 172 177 177 Financial leverage % — — 24.5 26.8 26.9 Return on equity own funds % — — 34.0 25.8 29.5 Number of shares (end of reporting period) Millions — — 2,678 2,712 2,691 Average number of shares Millions — — 2,687 2,514 2,561 Nordic underlying development Risk ratio % 59.9 59.9 59.9 61.7 61.0 -Large claims % -0.3 3.7 -1.0 1.4 1.2 -Severe weather % 0.0 0.2 -0.3 2.4 2.2 -Prior year development, risk adjustment and other technical effects % 0.5 -4.7 0.4 -3.3 -3.5 -Discounting effect, current year % -3.0 -2.4 -2.9 -2.7 -2.8 Underlying risk ratio % 62.8 63.1 63.6 63.9 63.8 Segments Private Nordic Insurance revenue, net EURm 1,014 925 2,968 2,730 3,667 Underwriting result EURm 196 181 533 453 628 Combined ratio % 80.7 80.4 82.0 83.4 82.9 Private UK Insurance revenue (incl. brokerage), net EURm 518 440 1,487 1,208 1,659 Underwriting result EURm 63 59 175 139 190 Combined ratio % 87.9 86.5 88.3 88.5 88.5 Live customer policies Millions — — 4.4 3.8 3.9 Nordic Commercial Insurance revenue, net EURm 554 537 1,640 1,583 2,128 Underwriting result EURm 95 93 279 253 352 Combined ratio % 82.9 82.7 83.0 84.0 83.5 Nordic Industrial Insurance revenue, net EURm 141 165 439 490 657 Underwriting result EURm 20 19 80 62 74 Combined ratio % 86.1 88.5 81.8 87.4 88.7 INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 Financial overview 7 ===== SIDA 8 ===== Financial highlights for January–September 2025 Sampo Group’s performance in the first nine months of 2025 was underpinned by continued top-line growth, particularly in the Group’s private and SME businesses, as well as strong underwriting margin development in a favourable claims environment. The underwriting result strengthened by 17 per cent on a currency adjusted basis, leading to a 14 per cent increase in the operating EPS. Gross written premiums (GWP), including brokerage income, increased by 8 per cent on like-for-like basis in January-September 2025. On a reported basis, GWP increased by 10 per cent to EUR 8,461 million (7,718). Insurance revenue, including brokerage income, was EUR 6,755 million (6,214), representing 9 per cent growth. The Group maintained robust momentum in the private businesses both in the Nordics and the UK, offsetting softening development within large corporates. Private Nordic reported increasing like-for-like GWP growth of 8.9 per cent year-to-date, up from 8.6 per cent at the half year, driven by high retention, rate actions to mitigate claims inflation, and continued positive development in growth areas. Personal insurance premiums were up 12 per cent year-on-year and digital sales increased by 11 per cent, while an 8 per cent increase in Nordic new car sales also added to growth. Geographically, Norway continued to stand out with 16.5 per cent growth, fuelled by supportive market conditions. In Private UK, top-line growth came in at 16 per cent on a like-for-like basis on the back of continued selective growth, particularly within higher premium segments, offsetting the decline in market prices and lower activity on price comparison websites. UK live customer policy count increased to 4.4 million, representing 15 per cent growth year-on-year and 3 per cent growth from the end of the second quarter. The policy count growth was driven by solid development in telematics, bike, and van insurance as well as continued growth in home. Nordic Commercial saw GWP growth of 5.8 per cent on a like-for-like basis, driven by 7 per cent growth in SME and 15 per cent in personal insurance. High retention and price increases remain the primary driver for GWP growth, but the development in online sales remained notably positive with an increase of 14 per cent year-on- year. Meanwhile, Nordic Industrial saw a -4.1 per cent like-for-like GWP decline due to intentional de-risking of large property exposures and a more competitive market environment. The Group combined ratio improved by 1.2 percentage points year-on-year to 83.4 per cent, largely as a result of lower large and weather claims. In the Nordics, the claims environment was favourable throughout the first nine months of 2025, driven by benign weather conditions and a large claims outcome being better than budget. As a result, severe weather and large claims had a positive effect of 1.2 percentage points on the Nordic risk ratio, representing a material benefit compared to the negative effect of 3.9 percentage points in the comparison period. Further, the underlying trend remained positive with a 0.3 percentage points improvement in the Nordic underlying risk ratio year-on-year. In the UK, underwriting margins remained in line with target levels, even though the excess margins in the prior year unwound. The Group cost ratio increased by 0.4 percentage points to 25.5 per cent, as the benefit of cost synergies in Denmark was offset by the cost of strong volume growth across the Nordics and UK, and continued investments into operational capabilities. The Nordic operating cost ratio increased by 0.2 percentage points year-on-year but remains on track to improve in line with targets for the full year. The Topdanmark integration has been progressing well and synergies have emerged somewhat ahead of schedule. By the end of September 2025, EUR 24 million of the targeted run-rate synergies of EUR 140 million were realised. Sustained top-line growth, together with a favourable claims experience and delivery of the Topdanmark synergies, led to an underwriting result growth of 17 per cent on a currency adjusted and reported basis to EUR 1,121 million (955). INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 Financial highlights 8 ===== SIDA 9 ===== The third quarter saw strong underlying growth and margin development, while variable underwriting items (severe weather, large claims and prior year development) largely offset. Further, the Nordic region already saw a major storm (Amy) at the beginning of October. With significant potential severe weather exposure remaining before year end, Sampo has decided to keep its outlook for the 2025 underwriting result at EUR 1,425-1,525. The net financial result increased to EUR 836 million (573) driven by higher net investment income, primarily due to a EUR 355 million gain in the Group’s ownership in NOBA in the third quarter, as well as the insurance finance income or expense being materially better than in the comparison period. Operating EPS increased by 14 per cent to EUR 0.38 (0.34) on the back of a higher underwriting result offsetting slightly lower investment results. Following the strong performance since the start of 2024 and confidence in the Group’s future development, the Board has decided to update the operating EPS growth target from more than 7 per cent to more than 9 per cent annually on average for 2024-2026. Sampo will launch a new share buyback programme of EUR 150 million, as indicated with the half-year 2025 results when the previous EUR 200 million programme was launched. The new programme will be funded by the proceeds from the sale of shares in NOBA in connection with its IPO in late September. Sampo remains committed to operating with a strong but efficient balance sheet, and will review its excess capital position annually with the latest review been conducted in August 2025. The Group Solvency II coverage, net of nine months dividend accrual and the new buyback programme, stood at 172 per cent, slightly down from 174 per cent at the end of June 2025 and from 177 per cent at the end of 2024. Financial leverage was 24.5 per cent, down from 26.1 per cent at the end of June 2025 and from 26.9 per cent at the end of 2024. The restricted Tier 1 instrument issued in September 2025 is treated as debt in the financial leverage ratio. Sampo targets a solvency ratio of 150–190 per cent and a financial leverage of below 30 per cent. INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 Financial highlights 9 ===== SIDA 10 ===== Third quarter 2025 in brief Solid underwriting result growth, driven by continued strong top-line development, and higher investment returns translated into 16 per cent operating EPS growth year-on-year. GWP, including brokerage income, grew by 7 per cent year-on-year on like-for-like basis. On a reported basis, GWP increased by 6 per cent to EUR 2,218 million (2,088) in July-September 2025. Insurance revenue, including brokerage income, increased by 8 per cent to EUR 2,303 million (2,137). The Group’s top-line development continued to be propelled by robust performance across the private and SME businesses. In Private Nordic, like-for-like GWP growth accelerated to 9.5 per cent from 8.7 per cent in the second quarter. This was driven by broad-based development across the main product lines, with 14 per cent growth in personal insurance and 13 per cent in motor, benefiting from the rebound in Nordic new car sales, albeit from low levels. Geographically, Norway saw the strongest growth of 17 per cent, but Finland also stood out with 11 per cent growth. Meanwhile, Private UK saw a solid like-for-like growth of 7 per cent despite the headwind from declined market prices and lower activity on price comparison websites. The growth in the UK was driven by selective live customer policy growth in higher premium segments. Nordic Commercial had a robust quarter with like-for-like GWP growth of 7.8 per cent following strong performance in SME, personal insurance and digital sales. Nordic Industrial, on the other hand, saw a -15.2 per cent like-for-like GWP decline, driven by de-risking actions and loss of volume in a more competitive market environment. The Group combined ratio stood solid at 83.0 per cent (82.5), as benign weather and large claims were offset by conservatively booked reserves. In total, severe weather and large claims had a positive effect on 0.3 percentage points on the Nordic risk ratio, whereas the comparison period saw a negative effect of 3.9 percentage points, primarily driven by large claims. The Nordic underlying risk ratio improved by 0.3 percentage points year-on-year. In the UK, underlying margins have softened as a result of the continued deterioration in market prices. The Group cost ratio improved by 0.1 percentage points to 24.9 per cent. The Nordic operating cost ratio increased by 0.1 percentage points but the group remains on track to reach its cost objectives for 2025. Driven by robust top-line growth and solid margin development, the underwriting result increased by 4 per cent on a currency adjusted basis and by 5 per cent on a reported basis to EUR 392 million (374). Net financial result amounted to EUR 549 million (128), driven by EUR 355 million net gain on NOBA and favourable changes in discount rates compared to the prior year. Operating EPS increased by 16 per cent to EUR 0.14 (0.12), supported by both the underwriting result and investment returns. INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 Third quarter 2025 in brief 10 ===== SIDA 11 ===== Segments Private Nordic Sampo operates in the Nordic private insurance market through a number of brands including If, Topdanmark, Volvia, and other white-label partnerships. Its business model is based on high customer satisfaction and leveraging the benefits from digital sales and service capabilities. In total, the Group serves around 3.7 million households in Sweden, Denmark, Norway, and Finland. EURm 7–9/2025 7–9/2024 Change, % 1–9/2025 1–9/2024 Change, % Gross written premiums 1,011 917 10 3,192 2,930 9 Insurance revenue, net 1,014 925 10 2,968 2,730 9 Claims incurred, net -610 -542 13 -1,802 -1,677 7 Operating expense (incl. claims handling costs) -209 -202 3 -633 -600 5 Underwriting result 196 181 8 533 453 18 Key ratios 7–9/2025 7–9/2024 Change 1–9/2025 1–9/2024 Change Like-for-like GWP growth, % 9.5 — — 8.9 — — Risk ratio, % 60.1 58.6 1.5 60.7 61.4 -0.7 Cost ratio, % 20.6 21.8 -1.2 21.3 22.0 -0.7 Combined ratio, % 80.7 80.4 0.3 82.0 83.4 -1.4 All key figures in the table above are calculated on a net basis. Education and development costs are included in the cost ratio. Premium development In January – September 2025, Private Nordic delivered like-for-like GWP growth of 8.9 per cent, mainly driven by continued rate increases covering claims inflation, strong retention, and positive portfolio development. Norway continued to stand out geographically with a GWP increase of 16.5 per cent on the back of rate increases combined with strong new sales and high retention, thus driving an increase in the number of customers and insured objects. The positive GWP development in Private Nordic, in terms of product lines, was supported by strong development in key target areas with 12 per cent growth in personal insurance, and 6 per cent in property. In motor, GWP growth reached 11 per cent, partly driven by a rebound in Nordic new car sales volumes, which remain below pre- pandemic levels but continued to improve year-on-year. Momentum in Private Nordic digital sales remained strong with an 11 per cent increase in the first nine months of 2025. The retention rate remained high at >89 per cent (89) with a growing customer base, despite rate increases remaining above expected inflation levels. In the third quarter, like-for-like GWP growth accelerated to 9.5 per cent from 8.7 per cent in the second quarter. The positive development was driven by solid performance across the main product lines. The number of customers continued to grow in the quarter with particularly strong development in Norway. Underwriting performance During the first nine months of 2025, the underwriting result increased by 18 per cent to EUR 533 million (453), and the combined ratio improved to 82.0 per cent (83.4). A stronger risk ratio of 60.7 per cent (61.4) supported the positive development, reflecting benign weather and frequency development during the period. The cost ratio for January – September 2025 improved to 21.3 per cent (22.0) and remains on track to support targeted efficiency improvements at Nordic level for the year. The underwriting result grew by 8 per cent to EUR 196 million (181) in the third quarter. The combined ratio was broadly unchanged year-on-year at 80.7 per cent (80.4), as favourable weather conditions and positive underlying risk and cost ratio development were offset by a lower level prior year gains. INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 Segments 11 ===== SIDA 12 ===== Private UK Sampo operates in the UK private insurance market through its brand Hastings, which is one of the leading digital P&C insurance providers focused on UK car, van, bike, and home insurance. The Group serves over 4 million UK customers and is specialised in price comparison distribution, advanced pricing, anti-fraud, and digital capabilities. EURm 7–9/2025 7–9/2024 Change, % 1–9/2025 1–9/2024 Change, % Gross written premiums 764 716 7 2,243 1,939 16 Insurance revenue, net 518 440 18 1,487 1,208 23 Claims incurred, net -272 -216 26 -770 -624 23 Operating expense (incl. claims handling costs) -183 -165 11 -542 -445 22 Underwriting result 63 59 6 175 139 25 Key ratios 7–9/2025 7–9/2024 Change 1–9/2025 1–9/2024 Change Like-for-like GWP growth, % 7.3 — — 15.6 — — Risk ratio, % 52.5 49.0 3.5 51.8 51.6 0.1 Cost ratio, % 35.4 37.5 -2.1 36.5 36.8 -0.4 Combined ratio, % 87.9 86.5 1.4 88.3 88.5 -0.2 Gross written premiums and insurance revenue include broker revenues. All key figures in the table above are calculated on a net basis. Premium development For the first nine months of 2025, Private UK delivered GWP (including brokerage) growth of 16 per cent year-on- year on a like-for-like basis, largely driven by increased business volumes. New business sales benefitted from continued growth in home insurance and targeted expansion higher premium motor segments, whilst retention was supported by less customer switching in a market with declining prices. Like-for-like top-line growth in the third quarter was 7 per cent, as the continued live customer policy (LCP) growth, particularly within the higher premium segments, offset the year-on-year decline in market prices and related lower activity on price comparison websites. Insurance revenue increased 23 per cent year-on-year due to a mix of higher average premiums continuing to earn through and an increase in customer numbers. LCP increased to 4.4 million, with motor LCP up by 11 per cent year- on-year, and home LCP up 34 per cent year-on-year. During the third quarter, LCP increased by 3 per cent, with 2 per cent growth in motor and 8 per cent in home. Underwriting performance The underwriting result increased by 25 per cent year-on-year to EUR 175 million (139), reflecting a marginal improvement in combined ratio on higher net insurance revenue. The risk ratio increased by 0.1 percentage points year-on-year to 51.8 per cent (51.6), with claims frequencies and severities tracking broadly in line with historically observed rates. The Group continued to maintain a cautious reserving approach during the quarter. Operating expenses increased by 22 per cent year-on-year, reflecting primarily volume related expenses including higher acquisition costs from new business growth in the quarter and ongoing strategic investment into customer servicing capabilities, AI, and digital. These investments have contributed towards record high levels of customer satisfaction and reduced levels of customer complaints. The cost ratio reduced 0.4 percentage points to 36.5 per cent (36.8) for the period. As a result of the above movements in the risk ratio and the cost ratio, the combined ratio for the period marginally improved to 88.3 per cent (88.5). INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 Segments 12 ===== SIDA 13 ===== Nordic Commercial Sampo operates in the Nordic commercial insurance market through its brands If, Topdanmark, and Dansk Sundhedssikring (Oona Health) with a particular focus on SMEs. In total, the Group serves around 460,000 commercial customers in Sweden, Denmark, Norway, and Finland. EURm 7–9/2025 7–9/2024 Change, % 1–9/2025 1–9/2024 Change, % Gross written premiums 282 275 3 1,990 1,791 11 Insurance revenue, net 554 537 3 1,640 1,583 4 Claims incurred, net -326 -317 3 -961 -950 1 Operating expense (incl. claims handling costs) -133 -127 5 -399 -381 5 Underwriting result 95 93 2 279 253 11 Key ratios 7–9/2025 7–9/2024 Change 1–9/2025 1–9/2024 Change Like-for-like GWP growth, % 7.8 — — 5.8 — — Risk ratio, % 58.9 59.1 -0.2 58.6 60.0 -1.4 Cost ratio, % 23.9 23.6 0.3 24.3 24.1 0.3 Combined ratio, % 82.9 82.7 0.2 83.0 84.0 -1.1 All key figures in the table above are calculated on a net basis. Education and development costs are included in the cost ratio. Premium development Nordic Commercial delivered like-for-like GWP growth of 5.8 per cent during the first nine months of 2025. This positive development was primarily driven by solid renewals and rate actions to mitigate claims inflation. However, growth was partly dampened by the impact of de-risking measures and adjustment premiums related to workers’ compensation. Norway stood out with particularly strong growth momentum. The favourable GWP outcome in Commercial in terms of product lines was supported by continued strong momentum in personal insurance and 6.7 per cent growth in the SME portfolio. Like-for-like GWP growth reached 7.8 per cent in the third quarter, up from 6.3 per cent in the second quarter. Growth was driven by solid performance across all countries, with Norway delivering double-digit growth. Key growth areas continued to develop well, supported by high and stable customer retention rate and a growing customer base. Underwriting performance The underwriting result increased by 11 per cent to EUR 279 million (253) in the first nine months of 2025, and the combined ratio improved to 83.0 per cent (84.0). The risk ratio for the period stood at 58.6 percent (60.0), mainly driven by a favourable large claims development relative to budget and less frequency claims. The cost ratio stood at 24.3 per cent (24.1). The third quarter combined ratio was broadly unchanged at 82.9 per cent (82.7), supported by a favourable large claims outcome and positive underlying risk ratio development, partly offset by cautious reserving. INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 Segments 13 ===== SIDA 14 ===== Nordic Industrial Sampo is the leading insurer of large corporates in the Nordics through the If brand. Corporates with turnover of more than SEK 500 million (approx. EUR 45 million), or more than 500 employees, are classified as Industrial customers. In total, the segment serves around 1,200 companies. EURm 7–9/2025 7–9/2024 Change, % 1–9/2025 1–9/2024 Change, % Gross written premiums 104 122 -15 841 867 -3 Insurance revenue, net 141 165 -14 439 490 -11 Claims incurred, net -88 -115 -23 -259 -334 -22 Operating expense (incl. claims handling costs) -33 -31 6 -100 -94 6 Underwriting result 20 19 3 80 62 29 Key ratios 7–9/2025 7–9/2024 Change 1–9/2025 1–9/2024 Change Like-for-like GWP growth, % -15.2 — — -4.1 — — Risk ratio, % 62.5 69.5 -6.9 59.1 68.2 -9.1 Cost ratio, % 23.5 19.0 4.5 22.7 19.2 3.5 Combined ratio, % 86.1 88.5 -2.4 81.8 87.4 -5.6 All key figures in the table above are calculated on a net basis. Education and development costs are included in the cost ratio. Premium development In Nordic Industrial, GWP declined -4.1 per cent on like-for-like basis in January–September 2025. Targeted de- risking actions and a softening market impacted GWP growth with lower new sales combined with weaker year- on-year retention. Additionally, reduced project insurance premiums affected the period. Like-for-like GWP contracted by -15.2 per cent in the third quarter. This was mainly due to lost volume in the property segment in Sweden and Denmark, while top-line development remained positive in both Norway and Finland. Underwriting performance The underwriting result for Nordic Industrial increased by 29 per cent to EUR 80 million (62) in the first nine months of 2025, while the combined ratio improved to 81.8 per cent (87.4). This positive development was supported by a risk ratio of 59.1 per cent (68.2), reflecting a favourable large claims outcome. The cost ratio deteriorated to 22.7 per cent (19.2), driven by lower premium volumes, while nominal cost development remained in line with targets. In the third quarter, Nordic Industrial reported a combined ratio of 86.1 per cent (88.5). The year-on-year improvement was mainly driven by a stronger risk ratio, supported by a favourable large claims outcome and less frequency claims. INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 Segments 14 ===== SIDA 15 ===== Net financial result and other items EURm 7–9/2025 7–9/2024 Change, % 1–9/2025 1–9/2024 Change, % Fixed income 139 136 2 405 416 -3 Equities 2 3 -43 25 29 -14 Funds 4 4 -12 20 11 80 Interest and dividend income 144 143 1 450 456 -1 Fixed income -15 201 — 57 196 -71 Equities 428 -18 — 415 106 292 Funds 19 25 -23 65 72 -10 Net gains or losses 432 208 108 538 374 44 Other items -22 -11 106 -61 -13 384 Net investment income 554 340 63 927 818 13 Unwind of discounting, net -59 -63 -6 -176 -183 -4 Changes in discount rates, net 65 -156 — 114 -68 — Indexation of annuities, net -11 7 — -29 7 — Insurance finance income or expense -5 -212 -98 -91 -245 -63 Net financial result 549 128 328 836 573 46 Other income or expense -18 -27 -34 -28 -74 -63 Non-operational amortisations -51 -19 174 -103 -37 178 Finance expenses -6 -25 -74 -58 -76 -24 Total -75 -70 7 -188 -188 — Key figures 7–9/2025 7–9/2024 Change 1–9/2025 1–9/2024 Change Investment return, % 3.5 2.0 1.5 5.9 4.9 1.0 Fixed income mark-to-market yield, % — — — 3.5 4.1 -0.5 Fixed income running yield, % — — — 3.8 4.0 -0.1 Fixed income duration, years — — — 2.3 2.3 0.0 In the third quarter of 2025, the reporting method regarding investment income in the table above was changed so that interest income on bank accounts and assets at amortised cost have been moved from Other items to Fixed income under Interest and dividend income. The figures for the comparison periods have been restated as well. The Group’s net investment income increased by 13 per cent to EUR 927 million (818) in January-September 2025. The increase was primarily driven by EUR 355 million net gain on NOBA in the third quarter. Meanwhile, the recurring interest and dividend income stood broadly stable at EUR 450 million (456). In the third quarter, net investment income amounted to EUR 554 million (340), driven by the NOBA gain and stable recurring income from fixed income and equities. The fixed income running yield stood at 3.8 per cent at the end of September 2025, down slightly from 3.9 per cent at the end of the second quarter. The mark-to-market yield decreased to 3.5 per cent from 3.8 per cent at the end of the second quarter, primarily driven by the inclusion of Topdanmark’s assets into the calculation following the legal merger of If and Topdanmark on 1 July 2025. The Group’s investment portfolio amounted to EUR 17.5 billion. Of this, 88 per cent was allocated to fixed income. Following the IPO of NOBA, the stake was moved from alternatives to equities. As a result, the equity exposure increased to 11 per cent from 8 per cent at the end of the second quarter. Meanwhile, alternative investments amounted to EUR 169 million, representing 1 per cent of the portfolio, and mainly related to the stake in Nexi. Insurance finance income or expense (IFIE) was EUR -91 million (-245) in January-September 2025, supported by positive effect from changes in discount rates. Driven by both investment income and IFIE, the net financial result rose to EUR 836 million (573). INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 Net financial result and other items 15 ===== SIDA 16 ===== Other income or expense amounted EUR -28 million (-74), while finance expenses came in at EUR -58 million (-76), including a positive one-off effect of EUR 20 million from the Tier 2 tender offer in September 2025. The non- operational amortisations included a negative one-off effect of EUR -26 million related to the Ballerup office in Denmark. INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 Net financial result and other items 16 ===== SIDA 17 ===== Financial position Group solvency Sampo Group’s Solvency II ratio amounted to 172 per cent at the end of September 2025, net of dividend accrual for nine months (based on the latest regular dividend) and the new buyback programme of EUR 150 million. The ratio decreased slightly from 174 per cent at the end of June 2025, as strong operating performance was offset by underwriting seasonality, technical effects and dividend accrual. The IPO of NOBA had a 5 percentage points positive effect on the solvency ratio, net of increased FX risk, which was cancelled out by the launch of a new EUR 150 million share buyback programme. The Group’s Solvency II own funds increased to EUR 5,809 million from 5,558 million at the end of June 2025. At the same time, the solvency capital requirement increased to 3,376 million from 3,200 million, driven by the NOBA value gain as well as slightly higher symmetric adjustment. At the 2024 year-end, the Solvency II ratio was 177 per cent. Sampo targets a Solvency II ratio of 150–190 per cent. Financial leverage position Sampo Group’s financial leverage is calculated as Group financial debt divided by the sum of IFRS shareholders’ equity and financial debt. The Group targets financial leverage of below 30 per cent. The Group’s shareholders’ equity (excluding Tier 1 instruments) amounted to EUR 7,373 million at the end of September 2025, up from EUR 6,840 million at the end of June 2025, driven by retained earnings. In September 2025, Sampo launched a tender offer for its Tier 2 notes. As a result, Sampo repurchased EUR 316 million in aggregate nominal value of its Tier 2 notes due 2052 for EUR 295 million. In connection with the tender offer, Sampo issued EUR 300 million of new restricted Tier 1 notes. This had a fairly limited effect on the Group’s financial debt, which amounted to EUR 2,399 million at the end of September 2025, slightly down from EUR 2,418 million at the end of June 2025. Supported by the increase in shareholders’ equity, the Group’s financial leverage came in at 24.5 per cent at the end of September 2025, down from 26.1 per cent at the end of June 2025 and from 26.9 per cent at the end of 2024. The financial leverage figure includes restricted Tier 1 capital as debt. More information on Sampo Group’s outstanding debt issues is available at www.sampo.com/debtfinancing. Ratings Relevant ratings for Sampo Group companies remained unchanged during the first nine months of 2025. The ratings on 30 September 2025 are presented in the table below. Rated company Moody’s Standard & Poor’s Rating Outlook Rating Outlook Sampo plc – Issuer Credit Rating A2 Stable A Stable If P&C Insurance Ltd – Insurance Financial Strength Rating Aa3 Stable AA- Stable If P&C Insurance Holding Ltd (publ) - Issuer Credit Rating - - A Stable INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 Financial position 17 ===== SIDA 18 ===== Other developments Sale of shares in NOBA Group The Swedish specialist bank NOBA Group completed its initial public offering in late September 2025, which generated EUR 155 million of sales proceeds for Sampo and reduced the group's ownership to 14.9 per cent. The share sale, together with the value gain on the remaining stake, had a positive effect of EUR 355 million on net investment income in the third quarter. The effect was excluded from the operating result. The share sale and value gain had a 5 percentage points positive effect on Solvency II ratio. Sampo’s remaining NOBA stake was valued at EUR 636 million at the end of September 2025 and there is a 180 day lock-up in place on further share sales. Going forward, NOBA will be treated as a public equity investment and valued on a mark-to-market basis. However, any realised gains or losses will be treated as extraordinary items and thus, excluded from the operating result. Changes in Group’s financial debt In September 2025, Sampo launched a EUR 300 million tender offer for its Tier 2 notes. As a result, Sampo repurchased EUR 316 million in aggregate nominal value of its Tier 2 notes due 2052 for EUR 295 million. This had a positive one-off effect of around EUR 20 million on finance expenses in the third quarter. The effect was excluded from the operating result. In connection with the tender offer, Sampo issued EUR 300 million of new restricted Tier 1 notes with a coupon rate of 5.25 per cent and a first call date in 2035. The restricted Tier 1 instrument is accounted as part of shareholders equity, but treated as debt for certain key figures such as financial leverage. Shares and shareholders On 6 August 2025, Sampo announced a buyback programme of EUR 200 million, which started on 7 August 2025 and was completed after the end of the reporting period on 31 October 2025. During the third quarter, Sampo repurchased 13.2 million shares, representing 0.5 per cent of the total share count. At the end of September 2025, Sampo’s total share count, net of repurchased shares, amounted to 2,677,999,240 shares. Further details on the company’s share buyback programmes is available at www.sampo.com/ sharebuyback. Share count development A shares of which held by the company B shares Total 2020 2,770,759,250 0 6,000,000 2,776,759,250 2021 2,770,759,250 -42,699,780 6,000,000 2,734,059,470 2022 2,581,897,560 -11,050,985 1,000,000 2,571,846,575 2023 2,507,983,760 0 1,000,000 2,508,983,760 2024 2,690,238,860 0 1,000,000 2,691,238,860 3/2025 2,690,238,860 0 1,000,000 2,691,238,860 6/2025 2,690,238,860 0 1,000,000 2,691,238,860 9/2025 2,690,238,860 -13,239,620 1,000,000 2,677,999,240 Repurchased own shares that were not yet cancelled at the end of each reporting period have been deducted from the total share count in the table above. All figures are adjusted for the share split in February 2025. INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 Other developments 18 ===== SIDA 19 ===== In January-September 2025, Sampo received one (1) flagging notification of change in holding pursuant to Chapter 9, Section 5 of the Securities Markets Act, according to which the total number of Sampo A shares or related voting rights owned by BlackRock, Inc. and its funds directly or through financial instruments is above 5 per cent of Sampo’s total shares and voting rights. The reason for the notification by BlackRock, Inc. was the Group restructure following the acquisition of HPS Investment Partners (“HPS”). The latest notifications are available at www.sampo.com/flaggings. Remuneration A total of EUR 88 million (61), including social costs, was paid as short-term incentives in January–September 2025 in Sampo Group. In the same period, a total of 60 million (38) was paid as long-term incentives. The long-term incentive schemes in force in Sampo Group produced a result impact of EUR -22 million (-16). The terms of the long-term incentive schemes based on financial instruments of Sampo plc are available at www.sampo.com/ incentiveterms. In April 2025, Sampo Group published its Remuneration Report for Governing Bodies 2024 at www.sampo.com/ remuneration. The report has been prepared in accordance with the Corporate Governance Code 2025, issued by the Securities Market Association and effective from 1 January 2025. The remuneration of the Group Executive Committee members (excluding the Group CEO) can be viewed at www.sampo.com/ remuneration_executive_committee. Personnel Sampo Group’s average number of employees (FTE) was 14,983 (13,864) for January–September 2025. On 30 September 2025, the total number of employees was 15,065 (14,256). Sampo Group personnel by country Country Average personnel (FTE) 1–9/2025 % Average personnel (FTE) 1–9/2024 % United Kingdom 4,397 29 3,632 26 Denmark 2,829 19 2,725 20 Sweden 2,535 17 2,473 18 Finland 1,974 13 1,963 14 Norway 1,726 12 1,627 12 Other countries 1,523 10 1,443 10 Total 14,983 100 13,864 100 Events after the end of the reporting period Changes to the Group Executive Committee On 1 October 2025, Morten Thorsrud assumed the position of Group CEO. At the same time, Ricard Wennerklint was appointed Deputy CEO, and Poul Steffensen, Head of Nordic Industrial, and Tiina Halmesmäki, Chief Legal Officer, joined Sampo’s Group Executive Committee (GEC). Further, Group CFO Knut Arne Alsaker announced his decision to resign. He will continue in his current role until 31 March 2026 and thereafter serve as an advisor until 31 December 2026. Lars Kufall Beck, currently COO of If P&C, has been appointed as his successor and will assume the role on 1 April 2026. To reflect the simplification of Sampo into a pure P&C insurance group in recent years, Morten Thorsrud will lead a more operationally focused GEC, actively engaged in the running of the business. To facilitate this, certain responsibilities previously held by the If P&C CEO role will be integrated into the Sampo Group CEO role, aligning leadership with the Group’s operational structure across its four customer segments. INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 Other developments 19 ===== SIDA 20 ===== Share buyback programmes Sampo’s EUR 200 million share buyback programme announced on 6 August 2025 continued after the end of the reporting period and was completed on 31 October 2025. In total, Sampo repurchased 20,484,833 shares at an average price of EUR 9.76, corresponding to 0.8 per cent of the total share count. Following the completion of the programme, Sampo’s share count, net of repurchased shares, amounted to 2,670,754,027 shares. All repurchased shares will be cancelled. Sampo will launch a new buyback programme of EUR 150 million, in line with communication in connection with the previous programme. The new programme will be funded by the proceeds from the sale of shares in NOBA in connection with its IPO in September. The progress of the intended buyback programme can be followed at www.sampo.com/sharebuyback. Update in the Group’s operating EPS target for 2024-2026 Sampo’s Board of Directors decided to raise the Group’s operating EPS growth target to more than 9 per cent from more than 7 per cent annually on average for 2024-2026. The increase reflects Sampo’s strong operational performance and execution of its P&C focused strategy since the start of 2024, but also the confidence in the outlook into 2026. SAMPO PLC Board of Directors INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 Other developments 20 ===== SIDA 21 ===== Conference call A conference call for investors and analysts will be arranged today 5 November 2025 at 10:30 am Finnish time (8:30 am UK time). To ask questions, please join the teleconference by registering using the following link: https://palvelu.flik.fi/teleconference/?id=50051477 Upon registration, you will receive phone numbers as well as a conference ID and user ID to access the conference. If you wish to ask a question, please dial #5 on your telephone keypad to enter the queue. The conference call can also be followed live at www.sampo.com/result. A recorded version and a transcript will later be available at the same address. For more information, please contact Knut Arne Alsaker, Group CFO, tel. +358 10 516 0010 Sami Taipalus, Head of Investor Relations, tel. +358 10 516 0030 Antti Järvenpää, Investor Relations Specialist and Media Relations, tel. +358 10 516 0031 The Investor Presentation and a video review with Group CEO Morten Thorsrud are available at www.sampo.com/result. Sampo will publish the Financial Statement Release for 2025 on 5 February 2026. Distribution: Nasdaq Helsinki Nasdaq Stockholm Nasdaq Copenhagen London Stock Exchange FIN-FSA The principal media www.sampo.com INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 Further information 21 ===== SIDA 22 ===== Calculation of key figures Return on equity own funds, % + operating result (annualised) x 100 % + Unrestricted Tier 1 Own funds (average of values 1 Jan. and the end of reporting period) Financial leverage1 financial debt x 100 %equity (excluding Tier 1 instruments) + financial debt 1The Group’s financial leverage includes only long-term funding. Like-for-like GWP growth, % Like-for-like GWP growth is calculated by using constant currency rates and it is adjusted to exclude potential technical items affecting comparability, such as portfolio transfers, changes in inception dates for large contracts and changes in accounting methods. Insurance revenue, net + insurance revenue, gross - reinsurers' share of insurance revenue - quota share premium expense (Private UK) insurance revenue, net Underwriting result + insurance revenue, net + other income (Hastings) - claims incurred - operating expenses underwriting result Operating result + P&C operations’ (incl. Sampo plc) profit after tax - non-controlling interest in P&C operations - unrealised gains/losses on investments (excl. derivatives) in P&C operations - result effect from changes in discount rates in P&C operations - non-operational amortisations in P&C operations - non-recurring items - adjustment on taxes operating result Combined ratio, % + claims incurred + operating expenses x 100 % + insurance revenue, net + other revenue (Private UK) INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 Calculation of key figures 22 ===== SIDA 23 ===== Risk ratio, % + claims incurred – claims handling costs x 100 %insurance revenue, net Nordic underlying risk ratio, % (includes Private Nordic, Nordic Commercial, Nordic Industrial and certain minor items from Other operations) Risk ratio, % – Large claims, % – Severe weather, % – Prior year development, risk adjustment and other technical effects, % – Discounting effect, current year, % Underlying risk ratio, % Cost ratio, % + operating expenses + claims handling costs x 100 %insurance revenue, net Nordic operating cost ratio, % (includes Private Nordic, Nordic Commercial, Nordic Industrial and Other operations excluding internal reinsurance) + operating expenses + claims handling costs x 100 %insurance revenue, net Per share key figures Earnings per share profit for the financial period attributable to owners of the parent adjusted average number of shares Operating result per share operating result adjusted average number of shares INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 Calculation of key figures 23 ===== SIDA 24 ===== Exchange rates used in reporting 1–9/2025 1–6/2025 1–3/2025 1–12/2024 1–9/2024 EURSEK Income statement (average) 11.1076 11.1000 11.2368 11.4345 11.4143 Balance sheet (at end of period) 11.0565 11.1465 10.8490 11.4590 11.3000 DKKSEK Income statement (average) 1.4882 1.4873 1.5061 1.5327 1.5300 Balance sheet (at end of period) 1.4811 1.4940 1.4540 1.5365 1.5156 NOKSEK Income statement (average) 0.9485 0.9516 0.9643 0.9831 0.9850 Balance sheet (at end of period) 0.9429 0.9419 0.9506 0.9715 0.9605 EURDKK Income statement (average) 7.4617 7.4608 7.4600 7.4589 7.4589 Balance sheet (at end of period) 7.4649 7.4609 7.4613 7.4578 7.4560 EURGBP Income statement (average) 0.8507 0.8426 0.8357 0.8467 0.8514 Balance sheet (at end of period) 0.8734 0.8555 0.8354 0.8292 0.8354 INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 Calculation of key figures 24 ===== SIDA 25 ===== Statement of profit and other comprehensive income EURm Note 7-9/2025 1-9/2025 7-9/2024 1-9/2024 Insurance revenue 2,597 7,649 2,400 6,994 Insurance service expenses -2,011 -5,969 -2,021 -5,832 Reinsurance result -165 -477 14 -154 Insurance service result 1 422 1,202 393 1,007 Net investment income 2 554 927 340 818 Net finance income or expense from insurance contracts 3 -5 -91 -212 -245 Insurance finance income or expense, gross -18 -150 -250 -294 Insurance finance income or expense, reinsurance 13 59 38 49 Net financial result 549 836 128 573 Other income 4 90 281 83 240 Other expenses -188 -492 -147 -405 Finance expenses -6 -58 -25 -76 Profit before taxes 866 1,769 432 1,340 Income taxes -108 -308 -96 -292 Profit from the continuing operations 757 1,460 336 1,048 Divested operations, net of tax — — — -26 Net profit 757 1,460 336 1,022 Other comprehensive income Items reclassifiable to profit or loss Exchange differences -29 -41 24 7 Cash flow hedges 1 -1 -2 0 Total items reclassifiable to profit or loss, net of tax -28 -42 23 7 Items not reclassifiable to profit or loss Actuarial gains and losses from defined benefit pension plans 3 14 -5 -6 Taxes -1 -3 1 1 Total items not reclassifiable to profit or loss, net of tax 3 11 -4 -5 Other comprehensive income total, net of tax -26 -31 19 2 Total comprehensive income 732 1,429 355 1,024 Profit attributable to Owners of the parent 757 1,460 320 973 Non-controlling interests 8 — — 16 49 Total comprehensive income attributable to Owners of the parent 732 1,429 339 976 Non-controlling interests — — 16 49 Earnings per share (EPS), EUR 0.28 0.54 0.13 0.39 In February 2025, Sampo carried out a share split by way of a share issue without consideration. The new shares were issued to shareholders in proportion to their existing holdings, so that four (4) new shares were issued for each existing share. Earnings per share figure for the comparison period has been adjusted for the share split. Previously published EPS for comparison period 7-9/2024 was EUR 0.64 and for 1-9/2024 EUR 1.94. INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 25 ===== SIDA 26 ===== Consolidated balance sheet EURm Note 9/2025 12/2024 Assets Property, plant and equipment 276 284 Intangible assets 3,510 3,637 Investments in associates 4 4 Financial assets 5 16,640 16,090 Deferred income tax 1 2 Reinsurance contract assets 6 2,446 2,618 Other assets 1,161 880 Cash and cash equivalents 1,492 962 Total assets 25,531 24,478 Liabilities Insurance contract liabilities 6 12,960 12,286 Subordinated debts 7 1,314 1,642 Other financial liabilities 7 1,384 1,395 Deferred income tax 556 535 Other liabilities 1,646 1,562 Total liabilities 17,860 17,419 Equity Share capital 98 98 Reserves 3,828 3,531 Retained earnings 4,533 4,176 Other components of equity -788 -746 Total equity 7,671 7,059 Total equity and liabilities 25,531 24,478 INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 26 ===== SIDA 27 ===== Statement of changes in equity EURm Share capital Legal reserve Invested unres- tricted equity Restric- ted Tier 1 notes Retained earnings1 Transla- tion of foreign opera- tions Cash flow hedges Total Non- control- ling interest Total Equity at 1 January 2024 98 4 1,527 — 6,378 -742 -1 7,263 424 7,687 Changes in equity Acquired non- controlling interests — — 2,000 — -1,666 — — 334 -334 — Dividends — — — — -903 — — -903 -69 -972 Transferred assets at fair value in the demerger — — — — -325 — — -325 — -325 Acquisition of own shares — — — — -309 — — -309 — -309 Other changes in equity — — — — 7 — 0 6 -10 -4 Profit for the reporting period — — — — 973 — — 973 49 1,022 Other comprehensive income for the period — — — — -5 7 0 2 — 2 Total comprehensive income — — — — 969 7 0 976 49 1,024 Equity at 30 September 2024 98 4 3,527 — 4,150 -735 -2 7,042 59 7,101 Equity at 1 January 2025 98 4 3,527 — 4,176 -746 0 7,059 — 7,059 Changes in equity Dividends — — — — -915 — — -915 — -915 Acquisition of own shares — — — — -129 — — -129 — -129 Liability for the share buy-back programme — — — — -71 — — -71 — -71 Issue of Tier 1 notes — — — 298 — — — 298 — 298 Other changes in equity — — — — 0 — — 0 — 0 Profit for the reporting period — — — — 1,460 — — 1,460 — 1,460 Other comprehensive income for the period — — — — 11 -41 -1 -31 — -31 Total comprehensive income — — — — 1,471 -41 -1 1,429 — 1,429 Equity at 30 September 2025 98 4 3,527 298 4,533 -786 -1 7,671 — 7,671 1 IAS 19 Pension benefits had a net effect of 11 million (-5) on retained earnings. During the reporting period, Sampo recognised a liability for the share buyback programme against equity, At the reporting date, the liability is measured at the amount that represents the outstanding share of the share buy-back programme. Sampo issued EUR 300 million of new restricted Tier 1 notes with a coupon rate of 5.25 per cent and an option of a first call date in 2035 for Sampo. The restricted Tier 1 instrument is accounted as equity. INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 27 ===== SIDA 28 ===== Statement of cash flows EURm 1–9/2025 1–9/2024 Operating activities Profit before tax 1,769 1,314 Adjustments Depreciation and amortisation 183 131 Unrealised gains and losses arising from valuation -397 -333 Realised gains and losses on investments -115 -33 Change in liabilities for insurance contracts 694 699 Other adjustments -223 -420 Adjustments total 141 44 Change (+/-) in assets of operating activities Investments 1 133 -135 Other assets -94 -96 Total 38 -230 Change (+/-) in liabilities of operating activities Financial liabilities 157 110 Other liabilities -4 364 Total 152 474 Paid taxes and interests Paid taxes -273 -235 Paid interests -87 -87 Total -360 -323 Net cash from (or used in) operating activities 1,740 1,279 Investing activities Investments in tangible and intangible assets 2 -100 -88 Divestments in equipment and intangible assets 6 9 Net cash used in (or from) investing activities -94 -79 Financing activities Dividends paid -915 -903 Dividends paid to non-controlling interests — -69 Acquisition of own shares -129 -309 Increase in debt securities and amounts owed to credit institutions 3 414 152 Payments of debt securities in issue 3 -480 -7 Net cash used in (or from) financing activities -1,111 -1,137 Total cash flows 536 63 Cash and cash equivalents at the beginning of reporting period 962 1,415 Effects of exchange rate changes -6 15 Cash and cash equivalents at the end of reporting period 1,492 1,494 Net change in cash and cash equivalents 536 63 1 Investments include mainly financial assets. 2 The share of investments in tangible assets amounts to EUR -52 million and the share of intangibles to EUR -48 million. 3 Changes in short-term issues and repayments of debt securities are presented as net amounts. The items of the statement of cash flows cannot be directly concluded from the balance sheets due to e.g. exchange rate differences, or acquisitions and disposals of subsidiaries when applicable. Cash and cash equivalents include cash at bank and in hand EUR 1,212 million (1,190) and short-term deposits (max 3 months) EUR 280 million (303). INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 28 ===== SIDA 29 ===== Notes Accounting principles Sampo Group’s consolidated financial statements are prepared in accordance with IFRS® Accounting Standards adopted by the EU. The interim financial statements are not presented in accordance with IAS 34 Interim Financial Reporting as Sampo applies the statutes of security markets act (1278/2015), regarding the regular disclosure requirements. The same accounting principles and methods of computation are applied in this financial statement release as were applied in Sampo’s consolidated financial statements 2024. The financial statements for 2024 are available on Sampo’s website www.sampo.com/year2024. Information presented in the Interim Statement is unaudited. Accounting principles requiring management judgement and key sources of estimation uncertainties New reporting segments In February 2025, Sampo introduced new reporting segments to reflect its transformation into a fully-integrated P&C insurance group following the acquisition of Topdanmark in 2024. Sampo reports its financial performance based on the Group’s operational business areas that are regularly reviewed by a chief operating decision maker. Segments’ customer bases, risks, and performance measures differ from each other. The control and management of business and management reporting are organised in accordance with the business segments. The new segments are Private Nordic, Private UK, Nordic Commercial, and Nordic Industrial: • Private Nordic includes the Group’s Nordic private customer business, previously reported under the If and Topdanmark segments in Sampo’s accounts. Sampo operates in the Nordic private insurance market through its main brand, If, and other brands including Topdanmark and various white-label partnerships. • Private UK includes the Group’s UK business, previously reported as Hastings in Sampo’s accounts. Sampo operates in the UK private insurance market through its customer brand Hastings, which is one of the leading digital P&C insurance providers focused on serving UK car, van, bike, and home insurance. • Nordic Commercial includes the Group’s Nordic commercial customer businesses, previously reported under the If and Topdanmark segments in Sampo’s accounts, as well as Oona Health. The segment focuses particularly on SMEs. • Nordic Industrial includes the Group’s Nordic Industrial customer business, previously reported under the If segment in Sampo’s accounts. Corporates with revenues of more than SEK 500 million ( approx. EUR 45 million), or more than 500 employees, are classified as Industrial customers. In addition to these four reporting segments, Sampo presents other operations, consisting mainly of the Group’s Baltic business but also of group eliminations and other internal items. Other operations are not considered a separate reporting segment as they do not fulfil the criteria for reporting segments under IFRS 8. Liability for the share buyback programme During the reporting period, Sampo launched a new share buyback programme of EUR 200 million. At the time of the launch, Sampo recognised a financial liability against equity representing Sampo’s commitment under the share buyback agreement with a financial institution responsible for share repurchases on Sampo’s behalf. At the time of recognition, the liability was measured corresponding to the expected amount of the buyback programme. At the reporting date, the liability was measured at the amount that represents the outstanding share of the share buyback programme. INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 29 ===== SIDA 30 ===== Issue for restricted Tier 1 notes In September 2025, Sampo issued EUR 300 million of new restricted Tier 1 notes with a coupon rate of 5.25 per cent and a first call date in 2035. Accounting treatment of restricted Tier 1 (RT1) instrument depends on the substance of the contractual arrangement. The restricted Tier 1 instrument is accounted as equity as the notes are unsecured and subordinated as well as perpetual with no fixed maturity date. Payment of interest and principal is at the discretion of Sampo. Therefore, the restricted Tier 1 notes qualify as equity instruments pursuant to IAS 32. Transaction costs related to the issue of the notes are directly recognised in retained earnings. Interest expense is also recognised as a reduction in retained earnings. INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 30 ===== SIDA 31 ===== Segment information Result by segment for nine months ended 30 September 2025 In each reporting segment, Sampo reports the key profit or loss figures from insurance revenue to the underwriting result. These key profit or loss figures are reported regularly to the management to assess the reporting segments performance. Items below the underwriting result, such as net investment income and insurance finance income or expense, are reported at the group level. EURm Private Nordic Private UK Nordic Commercial Nordic Industrial Other operations Sampo Group Insurance revenue, net (incl. brokerage) 2,968 1,487 1,640 439 223 6,755 Claims incurred, net -1,802 -770 -961 -259 -121 -3,913 Operating expenses (incl. claims handling costs) -633 -542 -399 -100 -47 -1,721 Underwriting result 533 175 279 80 55 1,121 Net investment income 927 Net insurance finance income or expense -91 Net financial result 836 Other income or expense -28 Non-operational amortisations -103 Finance expenses -58 Profit before taxes 1,769 Sampo introduced new reporting segments based on Group’s operational business areas in February 2025. For more information regarding the new segments, please see section Accounting principles. Result by segment for nine months ended 30 September 2024 EURm Private Nordic Private UK Nordic Commercial Nordic Industrial Other operations Sampo Group Insurance revenue, net (incl. brokerage) 2,730 1,208 1,583 490 203 6,214 Claims incurred, net -1,677 -624 -950 -334 -115 -3,700 Operating expenses (incl. claims handling costs) -600 -445 -381 -94 -39 -1,559 Underwriting result 453 139 253 62 48 955 Net investment income 818 Net insurance finance income or expense -245 Net financial result 573 Other income or expense -74 Non-operational amortisations -37 Finance expenses -76 Profit before taxes 1,340 Comparative figures have been restated based on the new segments. INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 31 ===== SIDA 32 ===== Segment reconciliation Following tables present reconciliations from the segment reporting’s numbers to Sampo Group’s reported numbers. Insurance revenue, gross EURm 1-9/2025 1-9/2024 Insurance revenue, net (incl. brokerage) Private Nordic 2,968 2,730 Private UK 1,487 1,208 Nordic Commercial 1,640 1,583 Nordic Industrial 439 490 Reporting segments' total of insurance revenue, net 6,533 6,011 Intra-segment eliminations on insurance operations -37 -13 Intra-segment eliminations on reinsurance operations 37 13 Other operations 223 203 Sampo Group insurance revenue, net 6,755 6,214 Reinsurance operations and investment component 1,012 885 Other items -119 -106 Sampo Group insurance revenue, gross 7,649 6,994 Insurance service result EURm 1-9/2025 1-9/2024 Underwriting result Private Nordic 533 453 Private UK 175 139 Nordic Commercial 279 253 Nordic Industrial 80 62 Reporting segments' total of underwriting result 1,066 906 Other operations 55 47 Sampo Group's underwriting result 1,121 955 Other items 81 53 Sampo Group insurance service result 1,202 1,007 INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 32 ===== SIDA 33 ===== Other notes 1 Insurance service result EURm 1-9/2025 1-9/2024 Insurance revenue Gross written premiums1 8,125 7,417 Change in liability for remaining coverage -693 -619 Brokerage revenue 217 196 Total insurance revenue 7,649 6,994 Insurance service expenses Expenses related to claims incurred Claims paid and benefits -4,254 -4,252 Claims handling expenses -429 -376 Change in liability for incurred claims 3 -89 Change in risk adjustment -164 -112 Change in loss component -5 20 Insurance service expenses related to claims incurred -4,849 -4,809 Operating expenses -1,120 -1,023 Total insurance service expenses -5,969 -5,832 Reinsurance result Premiums -762 -669 Claims recovered 285 514 Total reinsurance result -477 -154 Total insurance service result 1,202 1,007 1 Due to the legal merger of If and Topdanmark on 1 July 2025, the accounting method for recognising gross written premiums (GWP) in If Group was harmonised. As a result, gross written premiums were restated in the first quarter of 2025. The harmonisation had an effect on the comparability of the nominal GWP values between 2025 and 2024. The change in the timing of GWP recognition has no impact on insurance revenue or GWP going forward. INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 33 ===== SIDA 34 ===== 2 Net investment income The table includes investment income and expenses from financial assets and liabilities held by the group companies. EURm 1-9/2025 1-9/2024 Derivative financial instruments Interest income 3 4 Interest expense -8 -1 Net gains or losses 8 21 Derivative financial instruments, total 3 24 Financial assets at fair value through profit or loss Debt securities Interest income 373 368 Net gains or losses 57 196 Equity securities Dividend income 25 29 Net gains or losses 415 106 Funds Distributions 12 5 Interest income 8 7 Net gains or losses 65 72 Financial assets at fair value through profit or loss, total 956 783 Financial assets at amortised cost 1 22 Total income or expenses from financial assets 961 828 Other Expenses from asset management -25 -16 Other income 31 50 Other expenses -35 -41 Fee expenses -5 0 Expenses from investment property 0 -3 Total other -34 -10 Total net investment income 927 818 The amount of expected credit losses on financial assets measured at amortised cost is presented in the note 5. The Swedish bank NOBA Group completed its initial public offering in late September 2025. Consequently, Sampo sold part of its holding in NOBA, resulting in a net sales gain of EUR 58 million. The valuation gain of Sampo’s remaining investment in NOBA amounted to EUR 309 million during the reporting period. INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 34 ===== SIDA 35 ===== 3 Net finance income or expense from insurance contracts EURm 1-9/2025 1-9/2024 Insurance contracts Unwinding of discount rates -238 -247 Effect of changes in interest rates and other financial assumptions 88 -47 Total finance income or expenses from insurance contracts -150 -294 Reinsurance contracts Unwinding of discount rates 62 64 Reinsurers' share of effect of changes in interest rates and other financial assumptions -3 -15 Total finance income or expenses from reinsurance contracts 59 49 Net finance result from insurance and reinsurance contracts -91 -245 4 Other income EURm 1-9/2025 1-9/2024 Other income 276 231 Income related to brokerage activities 5 9 Total other income 281 240 If’s other operating income includes EUR 114 million (115) income from insurance operations without a transfer of insurance risk. Such income is primarily attributable i.e. to sales commissions and services for administration and claims settlement in insurance contracts on behalf of other parties. This operating income is accounted for under IFRS 15 Revenue from Contracts with Customers. In addition, other operating income includes income from roadside assistance services provided by If’s subsidiary Viking Assistance Group AS, recognised when roadside assistance has been provided. Hastings’ operating income includes total of EUR 129 million (103) revenue recognised under IFRS 15 consisting of fees and commissions on panel providers, ancillary product income, and other retail income. Income related to brokerage activities is also accounted for under IFRS 15, if there is no insurance risk transferred to Hastings. INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 35 ===== SIDA 36 ===== 5 Financial assets EURm 9/2025 12/2024 Financial assets Derivative financial instruments 20 26 Financial assets at fair value through profit or loss Debt securities 13,588 13,325 Equity securities 1,414 1,288 Funds 980 823 Total financial assets at fair value through profit or loss 15,982 15,436 Financial assets measured at amortised cost Loans 137 272 Loans and advances to customers 501 356 Total financial assets measured at amortised cost 639 629 Total financial assets 16,640 16,090 Loans and advances to customers consists of Hastings’ loans to customers. The gross carrying amounts of the financial assets measured at amortised cost was EUR 671 million (EUR 651 million) and loss allowance was EUR -32 million (EUR -23 million). During the reporting period, the expected credit losses recognised in the income statement was EUR -10 million and in the comparative period EUR -4 million. NOBA Group completed its initial public offering in late September 2025, after which the valuation of the equity investment is based on quoted prices in active markets (fair value hierarchy level 1). At the end of the reporting period, Sampo’s remaining NOBA stake was valued at EUR 636 million. Sampo has a 180 day lock up on further share sales. INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 36 ===== SIDA 37 ===== 6 Insurance contract liabilities Insurance liabilities reflect the liability the Group has for its insurance undertakings, in other words, the insurance contracts underwritten. The liability consists of two parts, the liability for remaining coverage and acquisition cash flow assets as well as the liability for incurred claims. The liability for remaining coverage relates to the obligation to investigate and pay valid claims that have not yet occurred. The liability consists of the premium payments received for insurance services to be provided after the closing date, i.e. relating to the unexpired portion of the insurance coverage, and adjusted for acquisition cash flows. The liability for incurred claims relates to the obligation to investigate and pay valid claims that have occurred. The liability is designed to cover anticipated future payments for all claims incurred, including claims not yet reported. EURm 9/2025 12/2024 Insurance contract liability - contracts measured under PAA Liability for remaining coverage 2,237 1,877 Liability for incurred claims 10,723 10,409 Total insurance contract liabilities 12,960 12,286 Reinsurance contract assets Assets for remaining coverage 326 276 Assets for incurred claims 2,121 2,342 Reinsurance contract assets, total 2,446 2,618 Total insurance contracts, net of reinsurance 10,514 9,668 INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 37 ===== SIDA 38 ===== 7 Financial liabilities EURm 9/2025 12/2024 Subordinated debt liabilities Subordinated loans 1,314 1,642 Total subordinated debt liabilities 1,314 1,642 Other financial liabilities Derivative financial instruments 77 88 Financial liabilities measured at amortised cost Debt securities in issue 788 954 Amounts owed to credit institutions 519 353 Total financial liabilities measured at amortised cost 1,307 1,307 Total other financial liabilities 1,384 1,395 Total financial liabilities 2,698 3,036 Hastings has a revolving credit facility with a financial institution totalling EUR 97 million (103), of which EUR 38 million (39) was undrawn at the end of the reporting period. The revolving credit facility is maturing on 20 December 2026, after which the contract has an extension option of two more years. Hastings also has a securitisation facility arrangement with a financial institution to refinance the acquisition of loans totalling EUR 401 million (332), of which EUR 10 million (42) was undrawn at the end of the reporting period. The arrangement ends in November 2027. In addition, Hastings has an undrawn credit facility with Sampo plc totalling EUR 86 million with a maturity date of 29 October 2026. Subordinated loans decreased due to the purchase of the outstanding share of EUR 20 million (DKK 150 million) of Topdanmark’s hybrid debt in Q2/2025. In addition, Sampo launched a EUR 300 million tender offer for its Tier 2 notes in Q3/2025. As a result, Sampo repurchased EUR 316 million in aggregate nominal value of its Tier 2 notes due 2052 for EUR 295 million. This resulted in a positive one-off effect of around EUR 20 million on finance expenses. Debt securities in issue have decreased as the senior bond of EUR 162 million issued by Sampo plc matured in May. Amounts owed to credit institutions include the remaining liability for the share buyback programme amounting to EUR 71 million. INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 38 ===== SIDA 39 ===== 8 Acquisition of Topdanmark’s non-controlling interest Background In 2024, Sampo acquired the remaining non-controlling interests in Topdanmark A/S. The transaction was completed on 25 October 2024. Following the acquisition of the NCI, Sampo plc sold all shares in Topdanmark A/S to If P&C Insurance Holding Ltd. Equity transaction The transaction with the non-controlling interest was accounted for as an equity transaction in Sampo Group during H2/2024. The consideration paid to the NCI for their shares in Topdanmark A/S was recognised as a decrease in the retained earnings amounting to EUR 2,325 million. The portion of the NCI’s share in equity, amounting to EUR 394 million, was allocated to the owners of the parent company, and recognised as an increase in retained earnings. The total decrease of retained earnings amounted to EUR 1,931 million. The acquisition costs related to the equity transaction, amounting to EUR 31 million, were accounted for as a deduction from the equity. Overall, the transaction decreased Sampo Group’s total equity by EUR 356 million consisting of compensation paid in compulsory acquisition of EUR 325 million and transaction costs of EUR 31 million. Sale of Topdanmark A/S shares to If P&C Insurance Holding Ltd On 1 November 2024, Sampo plc sold all the issued shares in Topdanmark A/S to If P&C Insurance Holding Ltd. The transaction was completed at arm’s length basis. The sale price, based on the recent market value of EUR 4,659 million, equivalent to approximately DKK 34.7 billion, was paid through a loan agreement and a shareholder’s contribution between Sampo plc and If P&C Insurance Holding Ltd. On 1 November, the loan agreement, amounting to EUR 1,724 million, consisted of EUR nominated facility of EUR 862 million and DKK nominated facility of DKK 6,432 million (approx. EUR 862 million). The remaining part of the purchase price was paid through a shareholder’s contribution amounting to SEK 34 029 million (approx. EUR 2,934 million) granted by Sampo plc to If Holding. The shareholder’s contribution was recognised as an increase in the carrying amount of If Holding’s shares in Sampo plc’s balance sheet. As the sale transaction of Topdanmark’s shares is an intra-group transaction, all impacts, including the sales gain of the shares, are eliminated on the Sampo Group level. Restructuring reserve In 2024, in connection with the acquisition and the integration of Topdanmark into If Group, a restructuring reserve amounting to EUR 149 million was recognised. The costs relate mainly to redundancies, decommissioning, and sunsetting of systems, as well as rebranding. During the year 2025, the restructuring reserve was reduced by EUR 22 million, which was utilised against incurred expenses. At the end of September 2025, the reserve amounted to EUR 126 million. INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 39 ===== SIDA 40 ===== 9 Subsequent events after the balance sheet date Share buyback programmes Sampo’s EUR 200 million share buyback programme announced on 6 August 2025 continued after the end of the reporting period and was completed on 31 October 2025. In total, Sampo repurchased 20,484,833 shares at an average price of EUR 9.76, corresponding to 0.8 per cent of the total share count. Following the completion of the programme, Sampo’s share count, net of repurchased shares, amounted to 2,670,754,027 shares. All repurchased shares will be cancelled. Sampo will launch a new buyback programme of EUR 150 million, in line with communication in connection with the previous programme. The new programme will be funded by the proceeds from the sale of shares in NOBA in connection with its IPO in September. The progress of the intended buyback programme can be followed at www.sampo.com/sharebuyback. INTERIM STATEMENT FOR JANUARY–SEPTEMBER 2025 40 ===== SIDA 41 =====