For the fourth year in a row, Malakoff Humanis' financial solidity has been confirmed by S&P Global Ratings and Fitch Ratings. In 2025, both agencies maintained the A+ rating with a "stable" outlook, unchanged since it was first assigned in 2022.

This renewal highlights in particular:

• The Group's very strong financial solidity, rated “Extremely Strong” by Fitch Ratings, and its available capital, rated “Excellent” by S&P Global Ratings, corresponding to the best possible score and attesting to its ability to comfortably absorb even the most severe stress scenarios.

• Solid operational fundamentals: Malakoff Humanis continues to deliver solid operating performance, with a combined ratio of 100.1% at the end of 2024. This level illustrates the Group's responsible management and is in line with its not-for-profit organisational model, whose primary objective is to ensure optimum redistribution for the benefit of policyholders.

In addition, the Group's investment policy has been refocused on more secure assets, in particular government bonds. This approach is accompanied by enhanced asset-liability management, with the aim of reducing the duration gap.

• A structuring strategy in line with its business model: Malakoff Humanis is continuing its strategic development in the savings sector, marked by key milestones such as the affiliation of La France Mutualiste in 2024 and the acquisition of an 85% stake in UNOFI in 2025. These transactions strengthen the Group's presence in this market and demonstrate its determination to consolidate its role as a major player in social protection.

“We operate in a sector that provides social protection for the French people, which calls for responsibility and seriousness. This A+ rating confirms Malakoff Humanis' rigorous management in an uncertain and complex environment. It confirms the trust our customers place in us and demonstrates the Group's responsibility towards all its stakeholders”, says Thomas Saunier, Chief Executive Officer of Malakoff Humanis.

This confidence is affirmed by consumers, who voted Malakoff Humanis Brand of the Year 2026 in the Health Insurance category¹. In 2025, the Group was also awarded the EcoVadis gold medal with a score of 81/100, up 11 points from 2023, well ahead of the sector average (59/100) and the average for all sectors combined (56/100). With this score, Malakoff Humanis joins the top 2% of companies worldwide with the highest CSR ratings.

The reports published by S&P Global Ratings and Fitch Ratings are available on Communication financière | Malakoff Humanis

About Malakoff Humanis

A key player in non-profit joint and mutualist social protection, Malakoff Humanis supports companies and individuals in health, personal protection, savings and supplementary retirement.

With €10.5 billion in equity, nearly 400,000 corporate customers and more than 9 million people protected, Malakoff Humanis covers 15% of the group health and personal protection insurance market. In savings, the Group generated revenue of €880 million in 2024.

As an Agirc-Arrco supplementary pension institution, Malakoff Humanis manages contributions from more than 7 million workers and pays €44.4 billion in allowances to 6.3 million pensioners.

At the social and societal level, the Group supports its vulnerable customers and is committed to Disability - through its Malakoff Humanis Handicap foundation -, Cancer, Healthy Aging and Caregivers. More than €200 million is allocated each year to these actions.

www.malakoffhumanis.com

Investor contacts:

Philippe Borde: +33 6 33 11 07 42
Pierre Boucaux: +33 7 60 87 73 64
investor.relations@malakoffhumanis.com

Press contacts:

¹ Over 25,000 consumers representative of the population were surveyed for the purpose of awarding this label. The questions asked focused on four main criteria: perceived innovation, attractiveness, purchase intention and satisfaction/recommendation.