ESGinvestors@Talanx

Gross written premiums (EURbn)

39.5 (+13%)

Group net income (EURm)

923 (+31%)

Talanx at a glance: Together we deliver strong results

ESGinvestors@Talanx, July 2020

Operating profit (EURbn)

2.4 (+20%)

Net return on investment

3.5% (+0.2%-pts)

Net return on equity

9.8% (+1.8%-pts)

Solvency II ratio

211% (+2%-pts)

~23,000employees

150countries

As at FY 2019

2

Strategy

Enhanced capital management1

Focused divisional strategies2

Digital transformation3

Purpose

Culture

ESGinvestors@Talanx, July 2020

Forward-looking strategic and cultural positioning

+S

us

tain

ab

ilit

y

3

+

Our Group's strategy is flanked by our sustainability activities

ESGinvestors@Talanx, July 2020

Enhanced capital management

Digital transformation

Reinsurance

Focus Reinsurance

Industrial Lines

Programme 20/20/20

Specialty

Retail Germany

SME

Programme KuRS

Capital ManagementFocused divisional strategies

Retail International

Top 5 in core markets

Sustain-

ability

+

ESG

Environmental

Social

Governance

4

Our recent ESG highlights – consistent implementation of measures

ESGinvestors@Talanx, July 2020

Talanx leads the

financing for CPP

investments’ stake

in Germany’s

largest offshore

wind project,

funding EUR 321m

of the EUR 511m

project bonds

Feb 2020

Talanx co-invests

with Ardian for a

26% ownership

stake in German

regional utility

EWE AG by

investing a three-

digit million Euro

amount

May 2020

Talanx is

supporting the

expansion of fast

Internet in France

by investing EUR

200m in

comprehensive

international debt

financing amounting

to EUR 2.1bn

Apr 2020Jan 2020

Talanx buys another

solar farm in Spain.

The 50 MWp solar

farm is located near

Seville and

supplying electricity

to some 30,000

households

5

Talanx signs up

to PRI and goes

carbon-neutral

Germany-wide

by making offset

payments towards

climate-friendly

projects

Nov 2019

Action areas aligned with the "Ten Principles" set out in the UN Global Compact

ESGinvestors@Talanx, July 2020

Sustainability strategy and governance

Dialogue and reporting

Society

Company

Asset management

& underwritingOperations

Action area 1

Compliance and

transparency

Action area 2

Investment and

insurance products

Action area 3 Action area 4

Work and

employees

Day-to-day operations

and procurement

1 2 3 4

6

Talanx is committed to particularly contribute to 7 out of 17 of the United Nations' SDGs

ESGinvestors@Talanx, July 20207

Action area 1: : Compliance and transparency

"Our business partners have to live up to the values that are important to us"

ESGinvestors@Talanx, July 2020

Material topic Goal Measure

Human rights at Talanx

Code of Conduct for business partners

to ensure that principles and standards are

complied with along theentire value chain

Regular review of corruption risks as a

result of compliance risk analyses

Supplementing compliance management

system with a group-wide integrity

management

Regular review of corruption risk

Review compliance guidelines for

sustainability criteria and incorporate

where necessary

Optimise compliance managementCompliance

Data protection and

cybersecurity

Establish collaborative model for EU loca-

tions outside Germany

Overview of ad hoc monitoring performed in

functions and projects to assess compliance

Continue establishment of support services

for foreign data protection management

Expand ad hoc monitoring policy in

accordance with Art. 37 of the GDPR

Digital transformation

Defined initiatives and KPIs for the

individual divisions (see also our strategy

component "digital transformation")

Improve efficiency, increase revenue,

enhance cooperation readiness/ interfacing

ability

Kathrin Reichert, Head of Group Compliance Hannover, Talanx AG

8

Action area : Investment and insurance products

"As insurers, we think long-term and focus more on sustainable investments"

ESGinvestors@Talanx, July 2020

2

ESG in insurance solutions

Material topic Goal Measure

ESG screening is performed every six

months by an external service provider

Exclusion of oil sands

Set up of ESG body "Responsible

Investment Committee1" (RIC)

Check sustainability criteria when selecting

investments

Phaseout of coal by 2038

Develop a climate strategy for the portfolioESG in asset management

Increase investments in infrastructure

and renewable energy sources to up to

EUR 5bn (current investment volume: EUR

~3.1bn)

Continue sectoral diversification of

infrastructure portfolio

The relevant companies in the Retail

Germany Division have signed up to the

Code of Conduct issued by the German

Insurance Association (GDV)

Establishment of an ESG committee for

underwriting ("Responsible Underwriting

Committee", RUC2)

Continuously review and fine-tune sustaina-

bility approach applied in underwriting

Easy-to-understand information about

insurance solutions

Support, develop and expand sustainable

insurance solutions

1 The committee is chaired by Talanx AG’s Chief Financial Officer (CFO), CFOs of the segments and investment managers, the head of Group Communications, the head of Investor Relations and Ampega Asset

Management’s senior management 2 Consisting of Talanx AG Board Members

Arzu Dağtekin, Client Relationship Manager, Ampega Asset Management GmbH

9

Action area 3: Work and employees

"For me, “together” means combining knowledge, culture and passion in a single goal"

ESGinvestors@Talanx, July 2020

3

Material topic Goal Measure

Talanx as an employer

Recruit women to at least 25% of vacant

management positions in Germany

Flexible working time models / mobile

working / contribution to childcare costs

International Managemant Development

Programme (MDP) and secondments abroad

Capture social projects throughout the

Group

Diversity / increase proportion of women

in management positions

Work-family balance/work-life balance

Internationality

Advancing social matters and promoting

charitable projects and local initiatives

Facilitate initial vocational training and dual-

track degree programmes

Roll out existing employee health days /

health management to locations; sports

offering for employees; continue existing

health/screening and prevention programme

Personal development programmes

Ensure adequate numbers of talented

young staff

Maintain / restore employees’ working

capacity

Extend education measures for specialists

and managersEmployee recruitment and

development

10

Ceyhan Hancıoğlu, General Manager of HDI Sigorta

Supplier management

Climate change

Environmental protection in

the enterprise

Action area 4: Day-to-day operations and procurement

"Forgoing comfort should be a small price to pay for environmental protection"

4

Material topic Goal Measure

Uniform groupwide code of conduct for

business partners

Review, develop and successively

implement a procedure for assessing

suppliers in accordance with

environmental and social standards

Calculate carbon footprint and offset

unavoidable CO2 emissions produced during

operations (carbon neutrality in Germany)

Development and implementation of a

group-wide climate strategy (covering own

business operations as well as the

investment portfolio)

Integrating sustainability criteria into our

procurement operations

Sourcing environmentally friendly products

and ensuring that environmental and

social criteria are taken into account in the

supply chain

Transparency, include climate change

aspects in sustainability strategy

Optimise energy consumption by adjusting

timer programmes

Investigate switch to recycling paper

Equip all company cars with a Climate Cool

fuel card

Electromobility

Reduce CO2 emissions and consumption

of energy and resources

Expand and promote corporate

environmental protection

Expand and promote sustainable mobility

policies

ESGinvestors@Talanx, July 202011

Helene Leichtling, Head of Logistics, HDI Service AG, Hannover

Selected ESG figures

Women in management positions1 Investments in infrastructure (EURbn) Training days per employee (p.a.)

Energy consumption in Germany Total CO2 emissions in Germany(Scope 1 + 2 + 3)

1 Comprises the entire Talanx Group (including Hannover Re) 2 Only Germany (excluding Hannover Re) 3 Adding 10% security buffer, minus services already compensated by a third party (e. g. DB, Lufthansa)

Note: Deviations between the current data and the figures for previous years cannot be ruled out due to the continuous expansion of the report boundaries. As a result, the change in the data capture processes and calculation

methodology means that the direct comparability of the annual data cannot be fully guaranteed

30.2%

20162015 20192017 2018

29.0%

17.5% 18.4%

29.5%

1.11.5

2.0 2.12.5

201920162015 2017 2018

2Compliance and transparency Investments & insurance products Work & employees3

2.0 2.02.3 2.5

2.9

201820172015 2016 2019

62,663.055,480.9

2018 2019

In MWh

45,886

33,857

2018 2019

Day-to-day operations and procurement4

2 2

in metric tons-12%

-26%

ESGinvestors@Talanx, July 202012

33,857 2,245 -26,102

-10,000

CO2emission

Adjustments ProjectBrazil

ProjectIndonesia

Compensation of German CO2

emissions (2019) in metric tons / certificates

3

We strive for a transparent reporting to achieve competitive ratings

Frameworks Reporting Ratings

ESGinvestors@Talanx, July 2020

Firm commitment in

investment and underwriting

Transparency through

well-accepted standards

Continuous

assessment

13

Note: Since 2020 Talanx has been committed to the UN Global Compact corporate responsibility initiative and its principles in the areas of human rights, labour, the environment and anti-corruption

Continuous rating improvements reflect our success in driving change

ESGinvestors@Talanx, July 2020

(24.6)19.2100 (worst) – 0 (best)

(n.s.) B-D- (worst) – A (best)

Note: Brackets contain previous figures; n.s.: not scored

(BBB) ACCC (worst) – AAA (best)

(C-) C-D- (worst) – A+ (best)

(3.3) 3.61 (worst) – 5 (best)

14

ESGinvestors@Talanx, July 202015

IR contacts

ESGinvestors@Talanx, July 202016

Contact us

You can reach us also via video conference

Next reporting dates

12 August 2020

6M 2020 results

12 November 2020

9M 2020 results

Follow uswww.talanx.com

Talanx AG

HDI-Platz 1, 30659 Hannover, Germany

E-mail: ir@talanx.com

Find us

Carsten Werle, CFA, Head of IR

Phone: +49 511 3747-2231

E-mail: carsten.werle@talanx.com

Bernt Gade, Equity & Debt IR

Phone: +49 511 3747-2368

E-mail: bernt.gade@talanx.com

Carsten Fricke, Equity & Debt IR

Phone: +49 511 3747-2291

E-mail: carsten.fricke@talanx.com

Anna Färber, Event Management

Phone: +49 511 3747-2227

E-mail: anna.faerber@talanx.com

Shirley Inafa, AGM, IR webpage

Phone: +49 511 3747-2435

E-mail: shirley.inafa@talanx.com

Nicole Tadje, ESG investors

Phone: +49 511 3747-2436

E-mail: nicole.tadje@talanx.com

17

This presentation contains forward-looking statements which are based on certain assumptions, expectations and opinions of the management of Talanx AG (the

"Company") or cited from third-party sources. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of

which are beyond the Company’s control, affect the Company’s business activities, business strategy, results, performance and achievements. Should one or more of

these factors or risks or uncertainties materialize, actual results, performance or achievements of the Company may vary materially from those expressed or implied as

being expected, anticipated, intended, planned, believed, sought, estimated or projected.in the relevant forward-looking statement.

The Company does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does the Company accept any responsibility

for the actual occurrence of the forecasted developments. The Company neither intends, nor assumes any obligation, to update or revise these forward-looking

statements in light of developments which differ from those anticipated.

Where any information and statistics are quoted from any external source, such information or statistics should not be interpreted as having been adopted or endorsed by

the Company as being accurate. Presentations of the company usually contain supplemental financial measures (e.g., return on investment, return on equity, gross/net

combined ratios, solvency ratios) which the Company believes to be useful performance measures but which are not recognised as measures under International

Financial Reporting Standards, as adopted by the European Union ("IFRS"). Therefore, such measures should be viewed as supplemental to, but not as substitute for,

balance sheet, statement of income or cash flow statement data determined in accordance with IFRS. Since not all companies define such measures in the same way, the

respective measures may not be comparable to similarly-titled measures used by other companies. This presentation is dated as of July 2020. Neither the delivery of this

presentation nor any further discussions of the Company with any of the recipients shall, under any circumstances, create any implication that there has been no change

in the affairs of the Company since such date. This material is being delivered in conjunction with an oral presentation by the Company and should not be taken out of

context.

Guideline on Alternative Performance Measures - For further information on the calculation and definition of specific Alternative Performance Measures please refer to the

Annual Report 2019 Chapter “Enterprise management”, pp. 24 and onwards, the “Glossary and definition of key figures” on pp. 250 as well as our homepage

https://www.talanx.com/investor-relations/ueberblick/midterm-targets.aspx?sc_lang=en

ESGinvestors@Talanx, July 2020

Disclaimer