Quálitas Controladora S.A.B (Q) investor relations material

Executive summary

• 2026 is a transition year with global turmoil, stagnant Mexican GDP, VAT regulatory changes, and intensified competition, but the business model has shown resilience and early benefits from efficiency initiatives.

• Written premiums for 2Q26 were $17,329 million, down 0.5% year-over-year, but up 3.4% excluding a one-time shift in a major multi-annual account; YTD written premiums grew 7.7% to $39,022 million.

• The company maintained its leadership in the Mexican auto insurance market, with a 34.2% share in written premiums and 37.4% in earned premiums as of Q1 2026.

• Strategic focus remains on disciplined growth in Mexico, international expansion, and vertical integration, with continued investment in service quality and new business lines.

• Insured units reached 6.1 million, up 119,000 year-over-year and 50,000 sequentially, despite aggressive pricing competition.

Financial highlights

• Written premiums declined 0.5% in Q2 but grew 7.7% year-to-date; excluding a one-time effect, quarterly growth was 3.4%.

• Earned premiums increased 4.4% for the quarter and 8% year-to-date.

• Net income reached MXN 1.4 billion for the quarter and MXN 2.9 billion year-to-date, with net margins of 8% and 7.5%, respectively.

• Comprehensive financial income decreased 4.7% for the quarter and 15.1% year-to-date due to lower interest rates, but the investment portfolio yield remains strong at 8.4%.

• ROE for the period was 21.4%; 12-month ROE stands at 18.3%.

Outlook and guidance

• Top-line growth for 2026 is expected to end in the mid to high single digits, with continued aggressive pricing in the market.

• Combined ratio is expected to remain at or slightly above the 92%-94% target, and ROE close to the 20% long-term target.

• Loss ratio is expected to stay within the 62%-65% range for the full year, despite seasonal and regulatory pressures.

• Continued investment in new businesses and IT, with no plans to cut service quality.

• Capital allocation will focus on strengthening leadership in Mexico, accelerating subsidiary growth, and expanding into new insurance business lines.