Gross written premiums reached €230.6 million (+15.0%) in the period, with an adjusted¹ operating profit increased to €29.1 million (+13.0%), supported by an 84.8% combined ratio² and a strong, stable solvency position.

• Gross written premiums € 230.6 million

• Insurance revenues € 165.7 million

• Adjusted operating profit € 29.1 million

• Net profit € 13.5 million

• Adjusted net profit € 16.4 million

• Group Solvency II ratio³ 224.0%

Verona, 6 August 2026 – The Board of Directors of REVO Insurance S.p.A., parent company of the REVO Insurance Group, today approved the Group’s consolidated financial results as of 30 June 2026.

KEY INDICATORS

• Gross written premiums of €230.6 million, up 15.0% compared with the same period of 2025 (€200.5 million);

• Broad-based growth across the Group’s main lines of business, both in Italy and Spain, with a further diversified insurance portfolio;

• Adjusted operating profit of €29.1 million, marking significant growth of 13.0% compared with the first half of 2025, supporting the operational growth trajectory envisaged in the Business Plan;

• Strong technical profitability, with a loss ratio⁴ of 32.3%, in line with the first half of 2025 and the Group’s medium-term targets;

• Positive investment contribution of €4.9 million (€3.8 million in H1 2025), while maintaining a relatively short duration and a high degree of geographical asset diversification, supporting portfolio resilience even during periods of market volatility;

• IT investment plan on track, (with approximately €6 million invested during the period), while operating expenses continued to evolve in line with Business Plan targets;

• Consolidated net profit of €13.5 million (€16.4 million adjusted), up from €11.3 million (€15.0 million adjusted) in the first half of 2025, a period that was characterized by a higher impact of non-recurring items than the current reporting period;

• Capital strength remained solid at high levels, with a Group Solvency II ratio of 224.0%.

Alberto Minali, Chief Executive Officer of REVO, commented: “The first half of the year marks the start of the 2026-2028 Business Plan, confirming the Group’s ability to translate its strategic priorities into tangible results along a sustainable growth path. In this context, the Eurocaution transaction represents the second building block of our international growth strategy, following REVO Iberia. The transaction also strengthens our presence in the highly specialized surety segment, a business characterized by significant technical expertise and a strong ability to contribute to the profitability and stability of the insurance portfolio.”

STRATEGIC PERFORMANCE

During the first half of the year, the growth initiatives identified in the 2026-2028 Industrial Plan, “THE TECHUMAN ERA”, were implemented:

• premium growth across the Group’s core “Specialty Focus” lines of business, with significant progression in the Surety (+15.8%) and Engineering (+13.3%) LoBs compared with the first half of 2025. Volumes in the Energy LoB, launched during 2025, increased substantially, as did those in the Legal Protection business (+79% compared with the first half of 2025). The Financial Lines⁵ segment recorded 17% growth, contributing to portfolio diversification and the stabilization of technical performance;

• further enhancement of the OverX technology platform and advancement of its Artificial Intelligence capabilities, including the introduction of new functionalities supporting Underwriting processes and the adoption of AI-assisted software development tools, such as vibe coding, which accelerated the release of new solutions;

• continued strengthening of REVO Iberia’s growth trajectory, which recorded gross written premiums of €9.9 million in the first half of the year, more than doubling the €4.5 million generated in the corresponding period of 2025. Commercial presence in the Spanish market continued to expand, with the distribution network reaching 55 local and international intermediaries (42 in 2025). During the period, premium collection activities were launched in Liability, while the organizational structure was further strengthened through the addition of seven new professionals across the Underwriting, Operations and Reinsurance areas;

• strengthening of the distribution network, through the expansion of commercial relationships across all key distribution channels. As of 30 June 2026, REVO works with 121 agencies and 87 brokers (including 17 international brokers). Particularly noteworthy is the activity of REVO Underwriting, whose role is to identify and recruit new agents in line with the strategy set out in the Industrial Plan: to date, REVO Underwriting manages approximately 400 agency relationships;

• solid progress in the bancassurance business, supported by the commercial relationships developed by the newly appointed Head of the business unit, which are expected to further strengthen its market positioning in the coming quarters;

• expansion of the parametric insurance offering, with approximately 50 thousand policies issued in the first half of 2026, up 51% compared with the same period of 2025, and extended across multiple sectors, ranging from travel insurance, through the enhancement of solutions dedicated to specialised intermediaries and the launch of the new flight cancellation product on Facile.it, to utilities and the agri-food sector;

• targeted recruitment of new professionals, primarily within the Operations and Underwriting areas, in line with the roadmap set out in the Industrial Plan and aimed at supporting the Company's innovation trajectory and technological transformation;

• confirmation of the A- rating with Stable Outlook by S&P, recognising REVO’s financial strength and growth path. The agency’s assessment reflects the Company’s ability to combine profitability, high technical portfolio quality and prudent risk management, confirming its favourable positioning to achieve the objectives outlined in the Industrial Plan.

Among the significant events occurring after the end of the reporting period, it should be noted that, on 3 August 2026, REVO submitted a binding offer for the acquisition of Eurocaution S.A., a Luxembourg-based company that is a leading distributor and active underwriter in the surety business in Luxembourg and Belgium, for a maximum consideration of €22 million. Once completed, the transaction, which is subject to the negotiation and execution of the contractual documentation, the fulfilment of the relevant conditions precedent and the receipt of the required regulatory approvals, will enable the Group to extend its position of excellence in the surety sector to the markets of Luxembourg, Belgium and, in the future, the Netherlands, leveraging the technical expertise of the Eurocaution team.

KEY PLAN AND ECONOMIC PERFORMANCE KPIs

The table below provides a summary of the main income statement items recorded during the reporting period.

During the period, gross written premiums reached €230.6 million, up 15.0% compared with the corresponding period of 2025. As at 30 June 2026, the business mix was more diversified, while maintaining significant exposure to the Surety segment (+15.8% compared with the corresponding period of 2025), alongside strong growth in Engineering, D&O and Legal Protection. At the same time, the Company maintained a particularly selective underwriting approach in lines undergoing portfolio remediation, including Motor Hull (CVT) and Marine, which recorded lower volumes compared with the first half of the previous year.

The table below provides a breakdown of the portfolio business mix as at 30 June 2026:

The operating performance achieved during the first half of the year was driven by the following factors:

• Insurance revenue amounted to €165.7 million (+22.5%), growing at a faster pace than gross written premiums (+15.0%) as a result of the recognition of premiums written in previous periods;

• Loss ratio remained stable compared with the first half of 2025 at 32.3%, already including the customary actuarial and statistical reserve strengthening adjustments (amounting to approximately €9.6 million during the period), aimed at anticipating in the income statement the effects of potential claim reporting delays and future reserve revaluations relating to claims already reported. The ratio was also impacted by the deterioration in the technical performance of the Agriculture portfolio, which recorded a loss ratio of 88.5%, compared with 53.1% in the corresponding period of 2025;

• Acquisition ratio⁶ of 17.6%, slightly down from 18.1% in the corresponding period of 2025, mainly reflecting the different business mix underwritten during the period;

• Cost ratio⁷ improved further, standing at 18.8% compared with 19.7% in the first half of 2025, benefiting from the lower relative impact of costs as a result of increased operating leverage, in line with the Company’s medium-term objectives;

• Reinsurance⁸ cost ratio of 17.9%, up from 15.6% in the corresponding period of 2025, mainly due to the particularly low level of large losses recorded during the semester, which resulted in reduced recoveries from reinsurers, as well as the lower contribution from reinsurance commissions associated with the higher retention of the portfolio.

As a result of these factors, the gross Combined Operating Ratio⁹ (COR) stood at 84.8% for the period, compared with 83.2% in the first half of 2025. The ratio improved from the 86.3% reported at year-end and remained in line with the targets set out in the Industrial Plan.

The investment portfolio also delivered a positive contribution, generating a result of €4.9 million, compared with €3.8 million in 2025. This performance was primarily driven by higher coupon income, supported by the diversification of the investment portfolio in line with the strategic asset allocation, within a context of reduced volatility resulting from its limited duration.

The table below presents the reconciliation between Operating Result and Adjusted Result for the period:

A particularly significant increase in Operating Result was recorded during the period (+23.6% compared with the corresponding period of 2025). This was accompanied by more moderate growth in Adjusted Operating Result (+13.0%), primarily reflecting the lower level of adjustments recognized during the first half of the year compared with financial year 2025.

The table below presents the reconciliation of the Adjusted Net Result for the first half of the year, which was affected by the same adjustment dynamics described above:

STATEMENT OF FINANCIAL POSITION

The table below provides a summary of the Group’s financial position:

Shareholders’ equity amounted to €270.4 million at the end of the period, up from €263.8 million as at 31 December 2025.

As at 30 June 2026, the Company held 229,550 treasury shares, representing 0.78% of its share capital, consisting exclusively of ordinary shares.

Further confirming the Group’s strong capital position, the Solvency II Ratio stood at 224.0% as at 30 June 2026, substantially in line with the 223.2% reported as at 31 December 2025.

FINANCIAL REPORTING OFFICER

Pursuant to Article 154-bis of the Consolidated Law on Finance, the Manager responsible for preparing the company’s financial reports, Mr. Jacopo Tanaglia, declares that the accounting information contained in this press release corresponds to the documentary evidence, books, and accounting records.

The Company informs that the consolidated Half-Year Financial Report as of 30 June 2026 will be made available to the public at the registered office and on the website www.revoinsurance.com, in the manner and within the timeframe established by applicable laws and regulations.

The results as of 30 June 2026 will be presented to the financial community today at 6:00 PM (CET) via conference call. Dial-in numbers are: +39 02 802 09 11 (Italy), +44 1 212818004 (UK), and +1 718 7058796 (USA).

The presentation related to the results is available on the website www.revoinsurance.com in the Investor Relations section.

The consolidated balance sheet and income statement of REVO Insurance S.p.A. as of 30 June 2026 are attached below, with the note that the consolidated report and related documentation have not yet been certified by the independent auditors, nor have the Solvency II data, pursuant to IVASS Regulation no. 42 of 2 August 2018.

CONSOLIDATED INCOME STATEMENT

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

¹ Adjustments include recurring investment income and expenses and exclude extraordinary one-off costs, including, among others, expenses related to exceptional advisory services, the one-time provision associated with the renewal of the ANIA National Collective Labour Agreement, amortization of the acquired portfolio (ex-VoBA) and Long-Term Incentive (LTI) costs, as well as other non-material items such as depreciation of tangible assets, deferred severance indemnity (TFM) settlements and finance costs related to financial liabilities.

² IFRS 17 Combined Ratio = (Insurance service expenses incurred + Reinsurance result) / (Insurance revenue before VoBA amortization)

³ Calculation based on the Standard Formula, with the application of Undertaking Specific Parameters (USPs) for the Credit and Surety lines of business.

⁴ Loss Ratio IFRS 17 = (Gross claims incurred from direct and assumed business) / (Insurance revenue before commissions and VoBA amortisation)

⁵ PI, D&O and Cyber

⁶ IFRS 17 Acquisition Ratio = (Total acquisition commissions) / (Gross insurance revenue excluding commissions and VoBA)

⁷ IFRS 17 Cost Ratio = (Total operating expenses, excluding amortisation of intangible assets, + other operating income/(expenses)) / (Insurance revenue before commissions and VoBA amortisation)

⁸ IFRS 17 Reinsurance Cost Incidence = (Insurance revenues and expenses from reinsurance ceded) / (Gross insurance revenue excluding commissions and VoBA)

⁹ Gross IFRS 17 Combined Ratio = (Insurance service expenses incurred + Reinsurance result) / (Insurance revenue before VoBA amortisation)