Statement by Antonio Huertas, Chairman of Mapfre

Hello, first of all I want to send a message of solidarity, empathy, and support to our brothers and sisters in Venezuela, who suffered a few weeks ago terrible earthquakes that caused an unacceptable number of deaths and extensive material damage. We will continue to support them to help rebuild your beautiful country. But let's talk now about Mapfre. The results for the first quarter of 2026 confirm that Mapfre is advancing strongly worldwide. We have achieved a profit of 1313 million euros before taxes and minority interests, and 624 million net, with growth over 9% in both. And we have done it by improving profitability, efficiency, and our ability to create sustainable value. Behind these figures there is something much more important: the effort of tens of thousands of professionals, the loyalty of millions of customers, and a very diversified business model that continues to work in the most demanding environments.

Spain, the United States, Brazil, and Mapfre have been some of the major drivers of this growth, but there are many countries and businesses that contribute their part successfully. We continue to improve results, strengthen solvency, and advance on all fronts. But this semester will also be remembered for a decision destined to transform our operation in the United States. Just today we have announced the signing of the agreement to acquire Safety Insurance, a great company that operates in Massachusetts and New England, the northeastern states of the United States. It is a decisive step for Mapfre in the United States because it strengthens our presence in the largest insurance market in the world and globally because it allows us to invest more in one of the most developed and attractive countries, diversify with more assets and business in dollars, and accelerate our profitable growth, taking advantage of the enormous opportunities of this great region. In our model, growth and doing it on solid foundations always go hand in hand. Solid and resilient growth that reinforces our long-term capabilities. And growing like this means above all adding people. With this operation, many employees, agents, and collaborators will join the group, driving our technological and transformation business projects.

These are complex and uncertain times, yes, but also exciting because of the challenges ahead. We do not only look to the medium and long term; we are also fully committed to the present. We face the coming months with the caution that the environment demands, but with enormous confidence, the confidence that these results and the good progress of all ongoing initiatives give us. Our strategic plan is already in its final stretch in these last months, and we are convinced that we will close it with great success.

We started the year with a major project to renew our brand, giving it more visibility worldwide and adapting it to the new times. And day after day we continue building a stronger, more prepared company with a very clear ambition: to create value for our customers, our shareholders, and society as a whole. And we do it guided by very clear values: teamwork, constant effort, trust, commitment to others, impeccable ethics, and continuous improvement. These are the values of all the people who make up Mapfre, and they are also the values we have seen these days in football, in the teams that competed in the World Cup, and admirably in its winner, the newly proclaimed champions, the Spanish national team, which, as you know, Mapfre Spain has been sponsoring. Because in sport, as in Mapfre, great achievements are never the work of just one person. We are a team. When a team gives its best and surpasses the sum of its talents with commitment and trust, no limit resists us. This is what the Spanish national team has demonstrated, and from here we congratulate them again for a historic triumph, their second star.

And at Mapfre we are writing our own great season. That is why I want to congratulate and thank all of you. These results are yours. Thank you very much for your work. Now, halfway through the year, many of us who live in the northern hemisphere will take a few days of rest with family and friends. The greatness and diversity of Mapfre mean we never stop. We pass the baton to each other like in a perfect relay race. Soon it will be others' turn. Happy holidays.