SUSTAINABILITY: 702 million generated in the fiscal year*. - PowerPoint PPT Presentation

SUSTAINABILITY: € 702 million generated in the fiscal year*. REINFORCING THE BALANCE SHEET: Goodwill writedown in the amount of € 173 million. COMMITMENT TO SHAREHOLDERS: Dividend maintained ( € 447 million charged against 2018 results). *Excluding goodwill impairment, net earnings stand at 529 million euros.

KEY ASPECTS FREQUENCY IMPACT OF INSTABILITY OF 3 OF CATASTROPHIC CONVERSION FINANCIAL RISKS DIFFERENCES MARKETS Dollar – 3.5% All currencies IMPACT decline against Real – 15.8% the euro. Financial income Lira – 25.0% affected by 2017: prolonged low interest IMPACT 2018 € 184 million rate environment and market € 1,439M less in premiums volatility. 2018: € 34M less in earnings * € 108 million € 103M less in Shareholders’ Equity Includes restatement of 18 million euros due to hyperinflation in Argentina

KEY ASPECTS OF THE YEAR FOCUS ON PROFITABLE GROWTH 208% SOLVENCY II ** 4 RATIO SPAIN * - * SOLIDITY OF RELEVANT PRINCIPAL MAPFRE RE IMPROVEMENTS EARNINGS IMPROVED FITCH CONTRIBUTOR STANDARD & RATINGS AND Mexico POOR’S € 481M € 149M OUTLOOK Italy MOODY’S Net earnings Global Risks Net earnings Asistencia Impact of +5.3% 96.6 millon RESTRUCTURING w/o euros from ROE 8.4% COUNTRIES *** extraordinary catastrophic items Brazil (Excl. goodwill events writedown) USA * Consolidates MAPFRE Portugal data in its accounts ** 195.6% pro-forma adjustment for the Brazil transaction *** 6.4% icluding the goodwill writedown

THE FIGURES AT A GLANCE NON-LIFE ATTRIBUTABLE EARNINGS 5 COMBINED RATIO 529 702 (+0.3%) 97.6% w/o goodwill -24.5% writedown - 0.5 p.p PREMIUMS 22,537 +2.1% at constant -4% exchange rates ROE* 6.4% CONSOLIDATED REVENUE 26,590 +0.8% -1.5 p.p at constant exchange rates -5% Millons of euros *8.4% excluding goodwill writedown

PREMIUMS/EARNINGS BY BUSINESS AREA PREMIUMS NET EARNINGS 6 INSURANCE 685 18,736 -3% RE INTERNATIONAL 47 3,787 LATAM +4%* 157 -10% IBERIA 481 149 24 -10 GLOBAL RISKS ASISTENCIA 1,174 -17% -8% +85% +136% 911 - 7% -7% GLOBAL INSURANCE RE ASISTENCIA RISKS Millions of de euros Data not adjusted for consolidation *Data in blue at constant exchange rates

INSURANCE UNIT PREMIUMS BY REGION -3% 18,736 IN PREMIUMS 7,658 7 +4% * 3,972 2,425 1,766 1,606 1,309 +10% -13% -4% -6% -5% -26% IBERIA BRAZIL EURASIA LATAM SOUTH LATAM NORTH NORTH AMERICA Millions of euros *Data in blue at constant exchange rates

A DIVERSIFIED BUSINESS DISTRIBUTION OF PREMIUMS AUTO 8 HEALTH 27.9 % (28.1%) 5.1 % (4.8%) LIFE 19.8 % (18%) P & C 25.2 % (26.8%) REINSURANCE 22 % (22.3%) (%) Prvious year Data not consolidated

FINANCIAL OBJECTIVES 2016-2018 9 Combined Expense Revenues ROE Payout Ratio Ratio > € 31,000M >11% 50-65% <96% <28% 97.6% 27.8% € 26,590M 8.4% 64% Affected by natural 84% including goodwill 6.4% including goodwill € 2,800M in premiums at disasters writedown writedown constant exchange rates * 96.8% € 1,300M in non-renewed Average CR w/o cat. premiums as part of 80/20 program * Excluding the impact from hyperinflationary economies

REVENUES AND PREMIUMS CONSOLIDATED REVENUES -5% € 26,590M 17,061 11 5,476 2,575 1,478 -6% + 2,8% - 8,1% -13,2% +0.2%* +8.5%* NON-LIFE LIFE FINANCIAL OTHER INCOME TOTAL PREMIUMS (LIFE / NON-LIFE) € 22,537 M in 2018 -4% +2.1%* Millions of euros *Data in blue are at constant exchange rates

EARNINGS BREAKDOWN NET EARNINGS -24.5% € 529M 12 912 682 702 529 -90 -453 -349 -173 -3.6% -5.3% + 42.6% +10.4% - 12.4% +0.3% - OTHER NON- OPERATING GOODWILL NET NON-LIFE LIFE TAXES CONCEPTS * CONTROLLING RESULT WRITEDOWN EARNINGS INTERESTS Millions of euros *Includes other activities, Holding costs and hyperinflation adjustments

ROE ROE 8.4% * GROUP 13 7.1% 7% 12.3% 11.6% 11% 5.3% 2.8% 1.9% SPAIN RE LATAM LATAM GLOBAL BRAZIL NORTH EURASIA SOUTH NORTH RISKS AMERICA *6.4% including goodwill writedown

REGIONAL COMBINED RATIOS GROUP +97.6% COMBINED RATIO 14 90.8 % Automobile 91.9 % 93.8 % 96.1 % 97.3 % 98.1 % 98.5 % 102.1 % 106.7 % GLOBAL IBERIA LATAM LATAM NORTH EURASIA MAPFRE BRAZIL RISKS SOUTH NORTH AMERICA RE

GROUP OVERVIEW 15 TOTAL ASSETS 67,570 67,291 -0.4 % DEC. 2017 DEC. 2018 - € 617M SHAREHOLDERS’ EQUITY 8,611 529 -447 -329 -103 -267 7,994 -7% BALANCE RESULT FOR UNREALIZED CURRENCY BALANCE DIVIDEND OTHER 01/01/2018 THE PERIOD GAINS DIFFERENCES 01/01/2019 Millions of euros

INVESTMENTS AND CASH € 27,596 M INVESTMENT 49,274 -1% PORTFOLIO 16 IN PUBLIC DEBT CONCEPT € FIXED INCOME Spain 15,998 AND OTHER 83% Rest of Europe 5,050 United States 1,347 CASH Brazil 2,872 EQUITIES 5% AND FUNDS REAL ESTATE Latin America - Rest 1,805 8% 4% Other countries 525 € 27,596 M in public debt TOTAL 27,596 € 8,922 M in corporate debt More than 73% of private investments € 476 M in alternative investments correspond to companies with ESG RATINGS Millions of euros

CAPITAL AND SOLVENCY CAPITAL STRUCTURE SOLVENCY 17 € 11,868 M SOLVENCY II RATIO 207.9 % * EQUITY 78% 8% SENIOR DEBT Tier 1 € 8,110m (88%) 9% SUBORDINATED DEBT Tier 2 € 1,106m (12%) 5% OTHER BANK DEBT 22 % COVERAGE RATIO *3Q

INSURANCE BUSINESS PREMIUMS REGIONAL BREAKDOWN SPAIN IBERIA 7,658 IN PREMIUMS + 10 % 18 GROWTH DRIVER 2,583 2,283 7,524 1,876 664 +16% +2% +14% +4% 134 HEALTH AND AUTOMOBILE LIFE GENERAL ACCIDENT P & C +10 % -4 % INSURED VEHICLES SPAIN PORTUGAL 5,740,018 (units) +2.4% Millions of euros

INSURANCE BUSINESS REGIONAL PREMIUMS BREAKDOWN LATAM NORTH LATIN AMERICA -14% 6,887 IN PREMIUMS 719 19 -39 % 204 77 131 -6 % BRAZIL +6 % +5 % LATAM -13% NORTH +3.7%* +9%* -3%* +13%* +12%* -26% MEXICO ** PANAMA DOMINICAN HONDURAS 1,309 3,972 REP. LATAM SOUTH 1,606 491 391 +5 % 289 200 -1 % -6 % -31 % LATAM SOUTH -5% +10%* +3%* -3%* +58%* Millions of euros *Data in blue in local currency PERU COLOMBIA CHILE ARGENTINA ** +9% excluding Pemex policy effect

INSURANCE BUSINESS REGIONAL PREMIUMS BREAKDOWN INTERNATIONAL 2,425 -5% 4,191 IN PREMIUMS 20 1,766 2,038 -3% +0.5%* NORTHEAST REGION 1,624 486 474 390 387 327 62 -7% -26% +1% +11% +18% +5% +42% -4% -6% -4%* -1%* +23%* +56%* NORTH EURASIA USA TURKEY MALTA PUERTO ITALY INDONESIA GERMANY AMERICA RICO Millions of euros *Data in blue in local currency

SHARE PRICE MAPFRE S.A IBEX 35 STOXX INSURANCE 600 2018 2016-2018 21 +0.4% MAPFRE -13 % -10% -13% -15% -15 % -10.5% IBEX 35 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2018 MARKET Stoxx 7,145 -10 % -9.2% CAPITALIZATION Insurance 600 at 12-31-18 Millions of euros

KEY SOCIAL ASPECTS OF THE PERIOD functional and geographic gender Equality Mobility 40.8% OBJECTIVE 40% OBJECTIVE 10% WOMEN +12.1% 2018: 2018: MANAGERS

KEY SOCIAL ASPECTS OF THE PERIOD Corporation tax: € 453M (34%) Number of eomployees: social 35,390 (97% permanent) Inclusion Opportunities for more than 252,000 people (distributors, providers etc.) 2.5% OBJECTIVE 2% OF WORKFORCE COMPRISING 2018: PEOPLE WITH DISABILITIES

AS A RESULT OF ALL OF THIS… WE MAINTAIN THE REMUNERATION TO OUR SHAREHOLDERS DIVIDEND FOR THE FINANCIAL YEAR: € 0.145 per share charged against 2018 results. In total, € 447 million PAYOUT OF € 1,341M 84% IN 2018 (64% excluding goodwill writedown) To shareholders, 5.5% entirely in cash, for the 2012-2018 period Return over average share price

Sustainability of growth and results PREMIUMS 2018: € 702M * +3% ** 2017: € 700M *Net earnings are 529 million euros including goodwill writedown ** Eliminating the effect of the PEMEX policy and Life groups at constant exchange rates

STRENGTHS of MAPFRE in Spain MAPFRE (+8%) beats the market (1.3%), and enjoys best growth rate in Spain among the Top 5.ntre las 5 primeras. The company’s market share in Spain is up, standing at 11.3% (against 10.6% for the previous year). Spectacular growth in Life (+20.03%), while the markets falls off -1.68%. We lead the Auto ranking, with a share of 20% and also Multirisk, with a share of 17.1%. We continue to improve customer service, and they rank us well above the average for the sector. (Premium volume. Data: ICEA) *NPS (Net Promoter Score) is an indicator that aids in measuring loyalty of clients to the brand, product or service, on the basis of rcommendations

GROWTH LEVERS NEW BANCASSURANCE AGREEMENTS DIGITAL BUSINESS Digital business premiums: € 1,509M +10% vs. 2017 +51% 2016-2018 INNOVATION MAPFRE Open Innovation

FINANCIAL STRENGTHS OF THE YEAR SOLVENCY QUALITY RATINGS POSITION OF CAPITAL COVERAGE EXPENSE TECHNICAL RESULT RATIO RATIO COMBINED RATIO

conclusions MAPFRE DELIVERS Financial strength and prudent management facilitate maintaining commitment to shareholders. MAPFRE IS TRANSFORMING Restructuring undertaken puts the company in an excellent competitive position to grow profitably over the next three years.