Summary of Consolidated Business Results of Tokio Marine Holdings, - PDF document

Summary of Consolidated Business Results of Tokio Marine Holdings, Inc. under Japanese GAAP for the six months ended September 30, 2019 November 19, 2019 Company Name: Tokio Marine Holdings, Inc. (the "Company") Stock Exchange Listing: Tokyo Securities Code Number: 8766 (URL: https://www.tokiomarinehd.com/en/) Representative: Satoru Komiya, President Contact: Tetsuya Hirano, Corporate Planning Dept. (Tel: +81-3-5223-3212) Scheduled date to file Quarterly Securities Report : November 22, 2019 Scheduled date to commence dividend payments: December 6, 2019 Supplementary information for quarterly financial statements: Available Quarterly IR Conference Call: To be held for analysts (Note) All amounts are rounded down and all percentages are rounded. 1. Consolidated Business Results for the six months ended September 30, 2019 (April 1, 2019 to September 30, 2019) (1) Consolidated Results of Operations (Note) Percentages represent changes from the same period in the previous fiscal year. Net income Ordinary income Ordinary profit attributable to owners of the parent million yen % million yen % million yen % 2,743,021 (0.9) 147,485 96.4 116,611 116.4 Six months ended September 30, 2019 2,767,538 1.3 75,100 (37.3) 53,885 (29.8) Six months ended September 30, 2018 (Note) Comprehensive income: 160,001 million yen - % Six months ended September 30, 2019 (29,754) million yen - % Six months ended September 30, 2018 Net income per share - Basic Net income per share - Diluted yen yen 165.47 165.36 Six months ended September 30, 2019 Six months ended September 30, 2018 74.67 74.62 (2) Consolidated Financial Conditions Total assets Net assets Ratio of equity capital to total assets million yen million yen % 23,704,641 3,678,980 15.4 As of September 30, 2019 22,531,402 3,603,741 15.9 As of March 31, 2019 (Reference) Equity capital: 3,648,721 million yen As of September 30, 2019 3,574,233 million yen As of March 31, 2019 2. Dividends Cash dividends per share First quarter Second quarter Third quarter Year-end Annual total yen yen yen yen yen Fiscal year 2018 - 160.00 - 90.00 250.00 Fiscal year 2019 - 130.00 Fiscal year 2019 (Forecast) - 95.00 225.00 (Note) 1.Revision to the latest dividend forecast: Yes 2.Fiscal year 2018 Breakdown for Annual total Ordinary dividend 180 yen One-time dividend for the capital level adjustment(*) 70 yen Fiscal year 2019 (Forecast) Breakdown for Annual total Ordinary dividend 190 yen One-time dividend for the capital level adjustment(*) 35 yen (*)The Company resolved the one-time dividends aiming to implement flexible financial policies. For the six months ended September 30, 2019, the Company resolved additional shareholder return of around 50.0 billion yen, which consists of one-time dividend for the capital level adjustment (total amount of 24.5 billion yen) and share repurchases (up to 25.5 billion yen). 3. Consolidated Business Forecasts for the fiscal year 2019 (April 1, 2019 to March 31, 2020) (Note) Percentages represent changes from the previous fiscal year. Net income Ordinary profit Net income per share - Basic attributable to owners of the parent million yen % million yen % yen 445,000 6.9 325,000 18.4 461.99 Fiscal year 2019 (Note) Revision to the latest Consolidated Business Forecasts: Yes

* Notes (1) Changes in significant subsidiaries during the six months ended September 30, 2019 (Changes in specified subsidiaries that resulted in a change in the scope of consolidation): None (2) Changes in accounting policies, changes in accounting estimates, and retrospective restatements (a) Changes in accounting policies to reflect amendments of accounting standards: None (b) Changes in accounting policies other than (a): None (c) Changes in accounting estimates: None (d) Retrospective restatements: None (3) Number of shares issued (common stock) (a) Total number of shares issued including treasury stock As of September 30, 2019 710,000,000 shares As of March 31, 2019 710,000,000 shares (b) Number of treasury stock held 7,753,460 shares As of September 30, 2019 3,443,216 shares As of March 31, 2019 (c) Average number of shares outstanding 704,686,660 shares During the six months ended September 30, 2019 721,587,241 shares During the six months ended September 30, 2018 Summary of Non-consolidated Business Results of Tokio Marine Holdings, Inc. under Japanese GAAP for the six months ended September 30, 2019 1. Non-consolidated Business Results for the six months ended September 30, 2019 (April 1, 2019 to September 30, 2019) (1) Non-consolidated Results of Operations (Note) Percentages represent changes from the same period in the previous fiscal year. Operating income Operating profit Ordinary profit Net income million yen % million yen % million yen % million yen % 116,144 (17.9) 104,051 (22.2) 104,076 (22.2) 103,103 (22.8) Six months ended September 30, 2019 141,440 188.7 133,777 207.8 133,810 208.0 133,567 208.7 Six months ended September 30, 2018 Net income per share - Basic yen 165.47 Six months ended September 30, 2019 185.10 Six months ended September 30, 2018 (2) Non-consolidated Financial Conditions Total assets Net assets Ratio of equity capital to total assets million yen million yen % 2,424,196 2,418,203 99.7 As of September 30, 2019 2,409,066 2,403,369 99.7 As of March 31, 2019 (Reference) Equity capital: 2,416,051 million yen As of September 30, 2019 2,400,889 million yen As of March 31, 2019 2. Non-consolidated Business Forecasts for the fiscal year 2019 (April 1, 2019 to March 31, 2020) (Note) Percentages represent changes from the previous fiscal year. Net income per Operating income Ordinary profit Net income share - Basic million yen % million yen % million yen % yen 208,000 (30.6) 184,000 (34.7) 183,000 (34.3) 260.14 Fiscal year 2019 *"Summary of Consolidated Business Results" is outside the scope of interim external audit. *Notes concerning the business forecasts and other items 1. Business forecasts are prepared based on certain assumptions and information available to the Company as of the release date of this document, and actual results may significantly differ depending on various factors. 2. The Company prepared its consolidated and non-consolidated interim financial statements for the six months ended September 30, 2019 since it is a "specific business company" defined in Article 17-15, paragraph 2 of the Cabinet Office Ordinance on Disclosure of Company Information.

Tokio Marine Holdings, Inc. Contents of Appendix 1. Consolidated Financial Statements and Major Notes …………………………………………………………………………... 2 (1) Consolidated Balance Sheet … ………………………………………………………………………………………………… 2 (2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income ………………………………… 3 (3) Consolidated Statement of Changes in Shareholders’ Equity …………………………………………………………………. 5 (4) Notes regarding going concern assumption ………………………… ………………………………………………………... 7 (5) Additional Information ……………… ……………………………………………….………………………………………… 7 2. Others ……………………………………………… ………………………………………………………………………… 8 (1) Summary of Consolidated Business Results ………………………………… ……………………………………………… 8 (2) Premiums written and claims paid by lines of business …………………… ……………………………………………….... 9 (3) Securities ………… ………………………………………………………………………………………………………….... 10 1