Consolidated Results as of 31 December 2018

ALL 2015-2018 PLAN TARGETS EXCEEDED

• Cumulative Net Operating Cash at €8 billion (target > €7 billion)
• Cumulative Dividends at €5.1 billion 2 (target > €5 billion)
• Average 2015 - 2018 Operating RoE at 13.4% (target >13%)

2018 ANNUAL RESULTS
STRONG NET PROFIT AT €2.3 BILLION (+9.4%), OPERATING RESULT AT €4.9 BILLION (+3%), PROPOSED DIVIDEND INCREASE BY 5.9% TO €0.90 PER SHARE

• Operating result increased thanks to improvements in all Group business segments
• Life New Business Margin increase continues at 4.35%. Combined Ratio at 93% (+0.1 p.p.), the best among its peers even considering the impact of natural catastrophes and man-made claims
• Excellent Life net inflows of €11.4 billion (+5.2%). Life technical reserves up to €343 billion (+2.2%). Total gross premiums of €66.7 billion, up by 4.9% thanks to improvements in both Life and Property & Casualty segments
• Net result in Asset Management increased by 24% to €235 million
• Capital position enhanced with a Regulatory Solvency Ratio of 216% (207% at FY2017; +9 p.p.)
• Proposed dividend per share of €0.90, up by 5.9% (€0.85 in FY2017)