IRB-Brasil Resseguros (IRBR3) investor relations material

Executive summary

• Achieved significant progress in efficiency, profitability, and disciplined underwriting, with a focus on high performance, digital transformation, and a return to profitability enabling dividend distribution after five years.

• Net income for 2025 reached R$505 million, up 35% year-over-year, driven by improved underwriting and financial income.

• Upgraded S&P rating to 'brAAA' and maintained A- (Excellent) from A.M. Best, reflecting improved risk management and financial strength.

• Recognized as a top workplace in Rio de Janeiro and offset 100% of corporate emissions with UN-certified carbon credits.

• Regulatory indicators and solvency ratios improved, with adjusted equity sufficiency at R$1,650 million and technical provision sufficiency at R$895 million.

Financial highlights

• Total net income for 2025 reached R$505 million, up 35% year-over-year; 4Q25 net income was R$143 million, a 27% increase from 4Q24.

• Underwriting result for 2025 was R$741 million, up 64% year-over-year; 4Q25 underwriting result was R$293 million, a 65% increase from 4Q24.

• Financial and equity income in 2025 totaled R$723 million, up 20% from 2024.

• Retained premiums in 4Q25 were R$875 million, down 2% year-over-year; written premiums in 4Q25 were R$1.3 billion, down 16% from 4Q24.

• Share buyback program executed in December 2025, totaling 220,000 shares.

Outlook and guidance

• Strategic focus on disciplined underwriting, digital transformation, and expansion of new business, especially in Brazil and selective international markets.

• Management will propose dividend distribution at the March 31, 2026, shareholders' meeting.

• Continued investment in innovation and new product launches to support domestic insurance market growth.

• Continued optimization of amortization and expansion of future margins through new business acquisition.