decreased

of non-economic assumptions in actuarial flow models. The SCR decreased from € 127,7m to € 105,9m over the reporting period. The decrease in capital requirements compared to 2025 is due to write-downs on several historical investments, spread risk... in accordance with MAB’s desire to move to the target asset allocation which will continue in 2026. The economic own funds of MAB decreased over the period 2024-2025 from €386,4m to € 338,6m. The main drivers for reduction in eligible own funds are

note that in Q2 2024 a rebalancing exercise was performed moving government bonds into corporate bonds in order to realize additional returns. In addition, throughout the year, exposures in ICAV decreased through disposals of units in Trade Finance... Own Funds to SCR 279% 378% Ratio of Own Funds to MCR 615% 841% Eligible Own funds decreased over the reporting period from €386m to €356m, mainly explained by the acquisition of the new Contassur portfolio in 2024, reduction of value on non-performing

% Ratio of Own Funds to MCR 841% 560% Eligible Own funds increased significantly over the reporting period from €372,1m to € 386,4m. The SCR decreased from € 147,7m to € 102,1m over the reporting period. This decrease can be explained on the one hand by... decreased in line with the SCR from € 66,5m to €45,9m compared to the year-end 2022. The solvency ratio of the Company increased from 252% to 378% over the reporting period. Further details of the Company’s Own Funds and SCR are provided in Section E