BEST Q4 IN MAPFRES HISTORY: 256m in NET EARNINGS AN EXCELLENT YEAR - PowerPoint PPT Presentation

2017 KEY POINTS 2 COMMITMENT TO SHAREHOLDERS: € 0.145 per share. € 447m in total, giving a payout of 64% BEST Q4 IN MAPFRE’S HISTORY: € 256m in NET EARNINGS AN EXCELLENT YEAR

CATASTROPHIC EVENTS of Q3 2017 3 NET IMPACT: € 156.8m Effectiveness of catastrophic protections THE VALUE OF COMMITMENT: Payments of + € 1,000m

2017 KEY POINTS 4 FOCUS ON PROFITABLE GROWTH EXCELLENT RE RELEVANT SPAIN: RISK OUTDOES ITSELF IMPROVEMENTS IN TOP GEAR MANAGEMENT ONCE AGAIN LATAM SOUTH Earnings up 4x EARNS € 163m EURASIA earns € 39m PREMIUMS +4% despite catastrophic Topping out an (vs. € 69m loss in 2016) events historic year of COMBINED catastrophes with RECOVERY € 701m RATIO: BRAZIL UNDERWAY IN EARNINGS 93.4% (Auto - 90.8%) Excellent net profit and Mexico, USA and Combined Ratio Asistencia

THE FIGURES AT A GLANCE 5 NON-LIFE ATTRIBUTABLE PROFIT COMBINED RATIO 701 98.1% -9.7% + 0.7 p.p 96.9% (-0.5 p.p.) PREMIUMS w/o cat. 23,481 +2.9% +4.1% at constant ROE exchange rates 7.9% CONSOLIDATED REVENUES 27,984 -0.9 p.p +3.3% 9.2% (+0.5 p.p.) w/o cat. Millions of euros

PREMIUMS/EARNINGS BY BUSINESS AREA 6 NET EARNINGS PREMIUMS INSURANCE 19,376 829 +3.7% RE 4,222 x10 vs 2016 INTERNATIONAL 88 -0.3% +19% LATAM 229 163 IBERIA 512 -68 -66 GLOBAL RISKS +12.6% -12.6% -21.4% ASISTENCIA - 1,257 984 +3 . 7% GLOBAL INSURANCE RE ASISTENCIA RISKS -7.8% Millions of euros Data not consolidated for adjustments

INSURANCE UNIT PREMIUMS BY REGION 7 PREMIUMS 19,376 6,960 +3.7% 4,547 2,529 1,870 1,772 1,699 +3.5% -3.6% -5.1% +39.6% -1.4% +3.8% IBERIA BRAZIL NORTH AMERICA EURASIA LATAM LATAM NORTH SOUTH Millions of euros

A DIVERSIFIED BUSINESS 8 DISTRIBUTION OF PREMIUMS AUTOMOBILE 31 % (32%) HEALTH 5 % (6%) LIFE 20 % (20%) GENERAL P & C 27 % (25%) REINSURANCE 25 % (26%) (%) Previous year Data not consolidated for adjustments

REVENUE AND PREMIUMS 10 CONSOLIDATED REVENUES 27,984 +3.3% 18,155 18.155 5,326 5.326 2,802 2.802 1,701 1.701 + 2.6% + 4.2% - 8.3% + 39.1% LIFE FINANCIAL OTHER INCOME NON-LIFE TOTAL PREMIUMS (LIFE / NON-LIFE) € 23,481 in 2017 +2.9% Millions of euros

EARNINGS BREAKDOWN 11 NET EARNINGS € 701m - 9 . 7% 946 701 720 -157 -398 -410 -23.2% + 3.6% + 9.6% -26.7% - 15.3% OTHER CONCEPTS * NON- NET EARNINGS NON-LIFE LIFE TAXES CONTROLLING INTERESTS Millions of euros *Includes other activities, Holding costs and hyperinflation adjustments

NET COST 12 CATASTROPHIC EVENTS IN 2017 € 184 million net impact € 1,050 million worth of benefit on the Group payments committed to clients Millions of euros. Updated as at December 2017

BREAKDOWN OF ROE BY COUNTRY / UNIT 13 ROE PAÍSES / UNIDADES GROUP ROE 7.9% 9.2% w/o cat. 13.2% 12.9% 12.6% 10.6% 6.5% 6.0% 4.6% LATAM SPAIN RE BRAZIL EURASIA USA LATAM SOUTH NORTH

REGIONAL COMBINED RATIOS 14 GROUP COMBINED RATIO +98.1% 96.9% w/o cat. 90.8 % Auto 93.7 % 94.8 % 96.1 % 96.9 % 98 % 100.9 % 104.9 % IBERIA LATAM LATAM EURASIA NORTH MAPFRE BRAZIL SOUTH NORTH AMERICA RE Non-Life combined ratio trend is improving in Iberia, LATAM South, LATAM North and EURASIA

SHAREHOLDER’S EQUITY 15 € 8,611m at December 2017 - € 515m -5.6% 9,126 701 -447 -639 -130 8,611 BALANCE RESULT FOR CONVERSION BALANCE DIVIDENDS OTHER 01/01/2017 THE PERIOD DIFFERENCES 01/01/2018 Millions of euros

GROUP OVERVIEW 16 TECHNICAL TOTAL INVESTMENTS PROVISIONS ASSETS & CASH +1.2% -0.5% 47,814 67,570 49,796 84% FIXED INCOME AND OTHER 4% CASH 4% REAL ESTATE 8% VARIABLE INCOME AND FUNDS € 27,388 m in soverign debt € 292 m in alternative investments Millions of euros

CAPITAL AND SOLVENCY 17 CAPITAL SOLVENCY STRUCTURE € 12,840 m SOLVENCY II RATIO 189%* EQUITY 82% 8% SENIOR DEBT Tier 1 € 8,071m (93%) 5% SUBORDINATED DEBT Tier 2 € 607m (7%) 5% OTHER BANK DEBT 18 % * Q3 DEBT LEVEL

BREAKDOWN OF INSURANCE BUSINESS REGIONAL PREMIUMS 18 SPAIN: THE GROWTH ENGINE IBERIA +4% 6,960 IN PREMIUMS 2,176 2,190 1,636 608 6,821 +4 % +3.5% +5.2% +2.8% +3.9% HEALTH AUTO GENERAL LIFE AND P&C ACCIDENT GROWTH 140 MARKET MAPFRE RANKING AUTOMOBILE 3.4% 3.8% 1 -0.4 % HOMEOWNERS 3.0% 1.9% 1 CORPORATE 1.8% 3.1% 2 HEALTH 4.2% 5.0% 5 CONDOMINIUMS 2.3% 3.4% 1 SPAIN PORTUGAL Millions of euros

BREAKDOWN OF INSURANCE BUSINESS REGIONAL PREMIUMS 19 LATAM NORTH LATIN AMERICA 8,018 +9% IN PREMIUMS 1,183 +65 % 218 73 125 +4 % -2 % +6 % LATAM NORTH +40% MEXICO PANAMA DOMINICAN HONDURAS 1,772 REP. 1,699 LATAM SOUTH 4,547 470 LATAM 394 +1 % 307 292 SOUTH -2 % -1% -16 % BRAZIL +4 % +4% PERU COLOMBIA CHILE ARGENTINA Millions of euros

BUSINESS STRENGTHS 20 1,551 +1.8% LIFE 2,996 +4.4% 1,787 1,205 NON-LIFE -2.2% +9.5% BRAZIL AUTO GENERAL P & C Millions of euros

BREAKDOWN OF INSURANCE BUSINESS REGIONAL PREMIUMS 21 INTERNATIONAL 4,398 IN PREMIUMS -4% 2,529 2,202 -3 % 1,870 653 471 351 327 311 -22 % +1 % 40 -4% -5% 44 +6 % -10 % +7 % - -6 % NORTH EURASIA USA TURKEY ITALY MALTA PUERTO GERMANY INDONESIA PHILIPPINES AMERICA RICO Millions of euros

STOCK MARKET PERFORMANCE 22 MAPFRE S.A. IBEX 35 DJ STOXX INSURANCE 2017 2016+2017 7,4% +6,9% -7.7 % +15.8% MAPFRE -7,7% Jan Feb Mar April May June July Aug Sept Oct Nov Dec +5.3% +7.4 % IBEX 35 2017 MARKET 8,247 DJ Stoxx +1% CAPITALIZATION +6.9 % Insurance at 12-31-17 Millions of euros

THE RESULT OF ALL OF THIS IS … 24 WE MAINTAIN OUR SHAREHOLDER REMUNERATION DIVIDEND FOR THE YEAR: € 0.145 per share against the 2017 results. In total: € 447m € 2,464m A PAYOUT distributed to OF 64% IN shareholders, 2017 all of it in cash, from 2012-2017

FINANCIAL STRENGTHS FROM THE PERIOD 25 QUALITY FITCH RATING SOLVENCY POSITION INSURER STRENGTH - OF CAPITAL 189% `A´ (93% TIER 1) DEBT RATIO EXCELLENT TECHNICAL RESULT LEVEL 18% INTERNAL COST RATIO COMBINED RATIO 4.4% 96.9% (w/o cat.)

BUSINESS STRENGTHS 26 UPDATING OF THE STRATEGIC ALLIANCE WITH BANCO DO BRASIL IN THE INSURANCE BUSINESS MAPFRE would control 100% MAPFRE would be the sole of the automobile and large shareholder of the agency risks insurance businesses in channel companies. the bank channel. BB MAPFRE would focus on MAPFRE’s exclusive product Life, agriculture, distribution agreement condominium, SMEs and via BB would be maintained, homeowners insurance for BB both for Life and Non-Life. clients.

WHAT DOES THE AGREEMENT REPRESENT FOR MAPFRE? 27 Significantly enhances shareholding in the Brazil business. Increases earnings contribution of its local business. Simplifies the execution of MAPFRE’s strategy in Brazil. Boosts the MAPFRE brand in Brazil. Consolidates as the no. 2 Non-Life company in the country. Maintains exclusivity of the Banco do Brasil channel.

CONCLUSIONS 28 2017: A positive year in a very complex environment. Financial strength and prudent management underpinned commitment to shareholders. Focus on profitable growth beginning to bear fruit outside Iberia. A satisfactory 2017, and confidence in the future.