In week 37 2026, Festi purchased in total 239,232 own shares for total amount of 72,698,064 ISK as follows:

Week Date Time Purchased shares Share Price Purchase price  
37 7.9.2026 10:33:36 75.000 305,0 22.875.000
37 8.9.2026 14:57:43 50.000 305,0 15.250.000
37 9.9.2026 10:42:01 75.000 303,0 22.725.000
37 10.9.2026 15:17:58 39.232 302,0 11.848.064
           
      239.232   72.698.064  
                     

The execution of the buyback program is in accordance with the Act on Public Limited Companies No 2/1995, Article 5 of the Regulation of the European Parliament and of the Council No. 596/2014, on market abuse, the Commission Delegated Regulation No. 2016/1052 and the Act on Actions against Market Fraud No. 60/2021.

Before these purchases, Festi held 5,729,077 own shares, corresponding to 1.83% of the issued share capital. Festi has now purchased a total of 2,289,445 own shares for 708,380,103 ISK and currently holds 5,968,309 own shares, corresponding to 1.91% of the issued share capital. This is an announcement of Festi’s purchase of own shares in accordance with the buyback program announced on 1 July 2026 in an announcement to Nasdaq Iceland. The program envisages the buyback of up to 3,000,000 own shares, corresponding to 0.96% of the issued share capital, provided that the total purchase price under the program shall not exceed ISK 1,000 million.

For further information contact Magnús Kr. Ingason, CFO of Festi hf. (mki@festi.is).

  • Gotistobart continues to show potential as chemotherapy-free monotherapy to reignite anti-tumor immunity in previously treated patients with squamous non-small cell lung cancer, where median survival with current standard of care treatments is less than one year1
  • Gotistobart demonstrated a median overall survival of 18.5 months compared to 10.0 months with standard-of-care chemotherapy in updated data from stage 1 of the PRESERVE-003 Phase 3 clinical trial, nearly doubling median survival in this patient population
  • Findings are consistent with gotistobart’s differentiated mechanism of action as an investigational immunomodulator that selectively enhances regulatory T cell depletion through CTLA-4-targeting in the tumor microenvironment

MAINZ, Germany, and ROCKVILLE, USA, September 14, 2026 – BioNTech SE (Nasdaq: BNTX, “BioNTech”) and OncoC4, Inc. (“OncoC4”) today announced the first median overall survival (“OS”) data from the non-pivotal stage 1 of the global randomized PRESERVE-003 Phase 3 clinical trial (NCT05671510) of gotistobart (also known as BNT316 or ONC-392), in patients with squamous non-small lung cancer (“NSCLC”) whose disease progressed on prior immunotherapy and chemotherapy. Gotistobart is an investigational CTLA-4-targeting immunotherapy designed to selectively deplete regulatory T cells (“Tregs”) within the tumor microenvironment and restore anti-tumor immune activity.

The data showed that treatment with gotistobart led to a statistically significant and clinically meaningful OS benefit, nearly doubling survival compared with standard-of-care chemotherapy in this patient population. The data were presented at the International Association for the Study of Lung Cancer (“IASLC”) 2026 World Conference on Lung Cancer (“WCLC”).

“Patients with squamous NSCLC continue to face limited treatment options after progression on immunotherapy. Current survival expectations with established therapies remain less than a year, and despite numerous development efforts, chemotherapy has remained the standard of care in this setting for more than a decade,” said Rama Balaraman, M.D., Principal Investigator and medical oncologist at Ocala Oncology Center, Florida, United States. “The magnitude of the survival benefit observed with gotistobart as a chemotherapy-free treatment approach in the PRESERVE-003 clinical trial is highly encouraging. If confirmed in the pivotal portion of the Phase 3 trial, these findings could transform the standard of care in a setting where new therapies are urgently needed.”

At the data cut-off on July 17, 2026, with a median follow-up of 25.4 months, 87 patients with metastatic squamous NSCLC had been randomized to receive either gotistobart monotherapy 6 mg/kg with two 10 mg/kg loading doses (N=45) or docetaxel 75 mg/m2 (N=42) in the second-line or later treatment setting. The median OS was 18.5 months for patients treated with gotistobart compared to 10.0 months for patients treated with docetaxel (HR: 0.56; nominal p-value=0.0295). The safety profile of gotistobart was consistent with previously reported data and remained manageable. Grade ≥3 treatment-related adverse events (“AEs”) were reported in 20/45 (44.4%) patients receiving gotistobart and 20/42 (48.8%) patients receiving docetaxel.

“These data underscore gotistobart’s potential to redefine treatment for patients with hard-to-treat squamous NSCLC whose disease has progressed after initial therapy and who face limited options,” said Prof. Özlem Türeci, M.D., Co-Founder and Chief Medical Officer at BioNTech. “In second- and later lines of treatment, the clinical relevance of novel therapeutic options depends on the ability to re-engage a suppressed or exhausted anti-tumor immune response and overcome acquired resistance. This update highlights gotistobart’s unique mode of action and our ambition to translate our deep understanding of the immune system into meaningful survival benefit for patients with lung cancer – particularly in areas where patients still need more. We look forward to continuing our work with our colleagues at OncoC4 to further explore and realize gotistobart’s full potential.”

“The data support the differentiated mechanism of action of gotistobart as a tumor microenvironment-selective Treg modulator and reinforce our confidence in the therapeutic potential of this distinct CTLA-4-targeting approach to meaningfully shift the treatment landscape in this indication,” said Pan Zheng, M.D., Ph.D., Co-Founder and Chief Medical Officer at OncoC4. “We are encouraged by the clinical activity and safety profile observed to date and remain focused on advancing gotistobart for patients with this difficult-to-treat disease.”

The pivotal stage 2 portion of PRESERVE-003 is currently ongoing at more than 160 sites globally. Gotistobart previously demonstrated a clinically meaningful OS benefit and durable anti-tumor activity versus docetaxel in stage 1 of the PRESERVE-003 Phase 3 trial in patients with squamous NSCLC who had progressed on PD-(L)1 inhibitors. This data was published in Nature Medicine and presented at the 2026 European Lung Cancer Congress (“ELCC”) and the IASLC ASCO 2025 North America Conference on Lung Cancer (“NACLC”).

About the PRESERVE-003 clinical trial
PRESERVE-003 (NCT05671510; EUCT:2023-505311-20-01; CTR20232927) is a two-stage, open-label Phase 3 trial evaluating the efficacy and safety of gotistobart as monotherapy compared to the standard-of-care chemotherapy (docetaxel) in squamous NSCLC patients, who have progressed on PD-(L)1 inhibitors and platinum-based chemotherapy. The non-pivotal stage of the trial included all NSCLC patients. The ongoing pivotal stage enrolled patients with squamous NSCLC. The primary endpoint is overall survival. Secondary endpoints include overall response rate, progression-free survival, and safety profile.

About gotistobart (BNT316/ONC-392)
Gotistobart (BNT316/ONC-392) is an investigational immunotherapy that enhances Treg depletion within the tumor microenvironment through targeting ​CTLA-4 to reignite antitumor ​immunity and which is being jointly developed by BioNTech and OncoC4.2,3,4,5,6,7,8,9 As a pH-sensitive monoclonal antibody, gotistobart is designed to enable CTLA-4 protein recycling. After binding to the CTLA-4 receptor on the cell surface, the complex is internalized, and the pH change causes the antibody to unbind, allowing CTLA-4 to return to the surface to preserve the immune checkpoint function at peripheral organs and to enhance anti-tumor immunity in the tumor microenvironment.9

Gotistobart is currently in late-stage clinical development as a monotherapy and as a component of combination therapy in various cancer indications. Gotistobart received Fast Track Designation from the U.S. Food and Drug Administration (“FDA”) in 2022 for the treatment of patients with metastatic NSCLC whose disease progressed on prior anti-PD-(L)1 therapy and Orphan Drug Designation for the treatment of patients with squamous NSCLC in 2025. The candidate also received Breakthrough Therapy Designation from China’s National Medical Products Administration (“NMPA”) in 2025.

About squamous non-small cell lung cancer
With a 5-year relative survival rate of 15% and a median overall survival of 11 months in the United States (2000-2017), squamous NSCLC is a devastating disease with limited treatment options.1 Current standard-of-care includes surgery and radiotherapy in combination with chemotherapy.10 Treatment options for second-line therapy after first-line immunotherapy and chemotherapy are limited to chemotherapy or palliative therapy in advanced/metastatic squamous NSCLC and remain more limited than for non-squamous NSCLC.

About BioNTech
BioNTech is a global next generation biopharmaceutical company pioneering novel investigative therapies for cancer and other serious diseases. In oncology, BioNTech is committed to transforming how cancer is treated. Its ambition is to develop innovative medicines with pan-tumor or synergistic potential to address cancer from multiple angles and across the full continuum of the disease from early- to late-stage. Its growing late-stage oncology pipeline comprises complementary treatment approaches spanning immunomodulators, antibody drug conjugates, and mRNA cancer immunotherapies. BioNTech has partnered with multiple global and specialized pharmaceutical collaborators leveraging complementary expertise and resources to accelerate innovation and drive progress, including Bristol Myers Squibb, Duality Biologics, Genentech, a member of the Roche Group, Genmab, MediLink, OncoC4, and Pfizer.

For more information, please visit www.BioNTech.com.

BioNTech Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to, statements concerning: the collaboration with OncoC4; BioNTech and OncoC4’s ability to successfully co-develop and co-commercialize gotistobart (also known as BNT316 or ONC-392), if approved; the rate and degree of market acceptance of gotistobart, if approved; the initiation, timing, progress, and results of BioNTech’s research and development programs, including data from the non-pivotal stage 1 of the global randomized Phase 3 trial PRESERVE-003 and statements regarding the expected timing of initiation, enrollment, and completion of trials and related preparatory work and the availability of results, and the timing and outcome of applications for regulatory approvals and marketing authorizations, including expectations regarding the potential indications in which gotistobart may be approved, if at all; the targeted timing and number of additional potentially registrational trials, and the registrational potential of any trial BioNTech may initiate; and discussions with regulatory agencies. In some cases, forward-looking statements can be identified by terminology such as “will,” “may,” “should,” “expects,” “intends,” “plans,” “aims,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words.

The forward-looking statements in this press release are based on BioNTech’s current expectations and beliefs of future events and are neither promises nor guarantees. You should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond BioNTech’s control, and which could cause actual results to differ materially and adversely from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: the uncertainties inherent in research and development, including the ability to meet anticipated clinical endpoints, commencement and/or completion dates for clinical trials, regulatory submission dates, regulatory approval dates and/or launch dates, as well as risks associated with clinical data, and including the possibility of unfavorable new preclinical, clinical or safety data and further analyses of existing preclinical, clinical or safety data; the nature of clinical data, which is subject to ongoing peer review, regulatory review and market interpretation; the impact of tariffs and escalations in trade policy; competition related to BioNTech’s product candidates; the timing of and BioNTech’s ability to obtain and maintain regulatory approval for its product candidates; BioNTech’s ability to identify research opportunities and discover and develop investigational medicines; the ability and willingness of BioNTech’s third-party collaborators to continue research and development activities relating to BioNTech’s development candidates and investigational medicines; unforeseen safety issues and potential claims that are alleged to arise from the use of products and product candidates developed or manufactured by BioNTech; BioNTech’s and its collaborators’ ability to commercialize and market its product candidates, if approved; BioNTech’s ability to manage its development and related expenses; regulatory and political developments in the United States and other countries; BioNTech’s ability to effectively scale its production capabilities and manufacture its products and product candidates; and other factors not known to BioNTech at this time.

You should review the risks and uncertainties described under the heading “Risk Factors” in BioNTech’s Report on Form 6-K for the period ended June 30, 2026, and in subsequent filings made by BioNTech with the SEC, which are available on the SEC’s website at www.sec.gov. These forward-looking statements speak only as of the date hereof. Except as required by law, BioNTech disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise.

About OncoC4
Based in Rockville, Maryland, OncoC4 is a privately held, late clinical-stage biopharmaceutical company that is actively engaged in the discovery and development of novel biologics for the treatment of cancer and immunological diseases. OncoC4’s pipeline features assets with first-in-class and best-in-class potential targeting both novel and well-validated targets across oncology and immunological diseases. Among them, AI-081 is a wholly owned bispecific antibody candidate targeting PD-1 and VEGF that is currently in phase 2 trial for oncology indications. ONC-841 is a first-in-class anti-SIGLEC-10 antibody currently in a Phase 2 trial for oncology indications and a Phase 1 trial for neurodegenerative diseases. OncoC4 has a strategic collaboration with BioNTech to co-develop gotistobart (BNT316/ONC-392), a tumor microenvironment-selective Treg depletion candidate targeting CTLA-4, in multiple solid tumor indications, including an ongoing pivotal clinical trial in squamous non-small cell lung cancer.

More information: www.oncoc4.com.

CONTACTS

BioNTech:

Investor Relations
Douglas Maffei, Ph.D.
Investors@BioNTech.de

Media Relations
Jasmina Alatovic
Media@BioNTech.de

OncoC4:

Investor Relations
Ryan Cui
ir@oncoc4.com

Media Relations
Helen Schiltz
hschiltz@oncoc4.com


1 Hu, Sheng et al. (2021) Prognosis and Survival Analysis of 922,217 Lung Cancer Patients from the US Based on the Most Recent Data from the SEER Database (April 15, 2021), International Journal of General Medicine, Volume 14, 9567-9588.
2 Du X, et al. Cell Res. 2018;28:433–47
3 Du X, Cell Res. 2018;28:416–32
4 Gao H, et al. Cell Discov. 2020;6:79
5 Hale G, et al. MAbs. 2024;16:2406539
6 Liu R, et al. bodies (Basel). 2020;9:64
7 Simpson TR, et al. J Exp Med. 2013;210:1695–710
8 Mellman I, et al. Immunity. 2023;56:2188–205
9 Zhang Y et al. (2019). Cell Res. 29:609-627
10 American Cancer Society (2025) Treatment Choices for Non-small Cell Lung Cancer, by Stage, online at: https://www.cancer.org/cancer/types/lung-cancer/treating-non-small-cell/by-stage.html 

Company announcement no. 45 2026 Danske Bank
Bernstorffsgade 40
DK-1577 København V
Tel. + 45 33 44 00 00

14 September 2026

Page 1 of 2

Danske Bank share buy-back programme: transactions in week 37

On 5 February 2026, Danske Bank A/S announced a share buy-back programme for a total of DKK 4.5 billion, with a maximum of 45,000,000 shares, in the period from 9 February 2026 to 29 January 2027, at the latest, as described in company announcement no. 6 2026.

The Programme is carried out in accordance with Article 5 of Regulation (EU) No 596/2014 of the European Parliament and Council of 16 April 2014 (the “Market Abuse Regulation”) and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (together with the Market Abuse Regulation, the “Safe Harbour Rules”).

The following transactions were made under the share buy-back programme in week 37:

  Number of shares VWAP DKK Gross value DKK
Accumulated, last announcement 7,180,122 333.7193 2,396,145,432
07 September 2026 47,958 374.4892 17,959,753
08 September 2026 76,731 373.5933 28,666,188
09 September 2026 164,309 371.0846 60,972,540
10 September 2026 14,513 375.4116 5,448,349
11 September 2026 14,321 379.9289 5,440,962
Total accumulated over week 37 317,832 372.8001 118,487,790
Total accumulated during the share buyback programme 7,497,954 335.3759 2,514,633,224

With the transactions stated above, the total accumulated number of own shares under the share buy-back programme corresponds to 0.919% of Danske Bank A/S’ share capital.

Attached to this corporate announcement, aggregated details on the transactions related to the share repurchase programme are shown by venue.

Danske Bank

Contact: Claus Ingar Jensen, Head of Group Investor Relations, tel. +45 25 42 43 70

Nasdaq Copenhagen Number of shares VWAP DKK Gross value DKK
07 September 2026 29,831 374.5043 11,171,838
08 September 2026 49,517 373.5949 18,499,299
09 September 2026 105,123 371.0755 39,008,570
10 September 2026 9,359 375.5861 3,515,110
11 September 2026 8,519 380.0175 3,237,369
Total accumulated over week 37 202,349 372.7826 75,432,186
Total accumulated during the share buyback programme 4,742,799 335.3328 1,590,416,185

CBOE Europe Number of shares VWAP DKK Gross value DKK
07 September 2026 18,127 374.4643 6,787,914
08 September 2026 27,214 373.5904 10,166,889
09 September 2026 59,186 371.1007 21,963,966
10 September 2026 5,154 375.0946 1,933,238
11 September 2026 5,802 379.7989 2,203,593
Total accumulated over week 37 115,483 372.8306 43,055,600
Total accumulated during the share buyback programme 2,755,155 335.4501 924,217,032

Attachment

NEW YORK–(BUSINESS WIRE)–Appleby Global Group LLC (“Appleby”), a leading offshore legal and corporate services platform, and affiliates of New Mountain Capital, LLC (“New Mountain”), a leading growth-oriented investment firm with approximately $60 billion in assets under management, today announced a significant minority investment to accelerate Appleby’s growth strategy. With a heritage of more than 125 years, Appleby provides a seamlessly integrated offering of legal services, including bot

LONDON–(BUSINESS WIRE)–Alpine Investors (“Alpine”) today announced the launch of Eight Group Service Partners (“Eight Group”), a platform focused on partnering with Core Mechanical & Electrical (M&E) and select subspecialty providers to deliver compliance-driven, recurring services for commercial customers across the United Kingdom. In conjunction with the launch, Eight Group has partnered with MV Lifts, Enertech, KCE FM, DPP, Irwin M&E, and four other businesses to form an integr

LONDON–(BUSINESS WIRE)– #DRAM–Global semiconductor revenue surpassed $425bn in 2Q26 reaching another all-time high as the market grew a record 31.4% quarter-over-quarter (QoQ) , according to new research from Omdia. AI demand and strong memory prices continued to be the leading market dynamics, taking total semiconductor revenue for the first half of 2026 to $752 billion. The 31.4% QoQ increase surpassed the previous sequential growth record of 29.2% in 1Q26. Since Omdia began tracking the semicondu

NEW YORK & LONDON–(BUSINESS WIRE)–L1VE and ATP Media, the broadcast arm of the ATP Tour, today announced a new three-year global partnership naming L1VE the Official Immersive Partner of ATP Media. The agreement runs from October 1, 2026 to December 31, 2028 and grants L1VE worldwide immersive live rights to the main events as well as highlights and replays across nine ATP Masters 1000 tournaments, the Nitto ATP Finals and ATP 500 and ATP 250 events. The partnership launches at the Rolex Shan

NEW YORK & LONDON–(BUSINESS WIRE)–L1VE macht die ATP Tour ab Oktober 2026 weltweit erstmals immersiv erlebbar. Den Auftakt macht das Rolex Shanghai Masters. Die von L1VE entwickelte Technologie ermöglicht es Fans, die Matches über gängige immersive Headsets zu erleben, als wären sie selbst in der Arena, gemeinsam mit Freunden und Fans aus aller Welt. Die Vereinbarung läuft vom 1. Oktober 2026 bis zum 31. Dezember 2028. In der Saison 2026 startet L1VE mit drei ATP-Masters-1000-Turnieren; ab 20

Groupama has reported strong results, with net income of €560 million.

Premium income (insurance premiums and other income) of €14.0 billion, up 8.7%

  • Growth across all business lines: property and casualty insurance (+5.6%), health and protection (+6.9%), and savings and pensions (+23.5%)
  • Sustained growth in France (+8.8%) and across the international subsidiaries (+8.1%)
  • Insurance revenue (IFRS 17) of €8.9 billion, up 6.9%

Net income of €560 million

  • Economic operating income of €634 million, up €26.0 million
  • Weather-related loss experience of €529 million before reinsurance
  • Combined ratio of 93.3%

Strong solvency ratio of 240% without transitional measures 

  • Solvency ratio of 284% with the transitional measure on technical provisions
  • Group’s IFRS equity of €13.4 billion, up €1.5 billion
  • Contractual service margin of €4.8 billion

These results are strong, but they do not take account of the numerous weather-related events (hailstorms, wildfires and drought) that have occurred since 30 June 2026 and will be reflected in the second half of the year.

The Board of Directors of Groupama Assurances Mutuelles met on 10 September 2026, under the chairmanship of Laurent Poupart, and examined the Group’s combined financial statements for the first half of 2026. The half-year financial statements underwent a limited review by the statutory auditors.

Sustained business development (insurance premiums and other revenues)

As at 30 June 2026, Groupama’s combined premium income stood at €14.0 billion, an increase of 8.7% compared with 30 June 2025. Growth was recorded across all the Group’s business lines: property and casualty insurance (+5.6%), health and protection insurance (+6.9%), and savings and pensions (+23.5%).

Groupama premium income as at 30 June 2026

€ million 30/06/2026 Like-for-like change
30/06/25*
Property and Casualty 7,270 +5.6%
Health and Protection 4,235 +6.9%
Savings and Pensions 2,344 +23.5%
Financial businesses 156 +14.7%
GROUP TOTAL 14,005 +8.7%

* Change at constant exchange rates and scope of consolidation

In France

At 30 June 2026, insurance premium income in France amounted to €11.9 billion, up 8.8% compared with 30 June 2025. This momentum reflects the performance of all business lines.

Premium income in property and casualty insurance reached €5.9 billion at 30 June 2026, up 4.5%. This growth was driven by all segments, in particular:

  • insurance for businesses and local authorities (+6.1%);
  • agricultural insurance (+5.0%);
  • home insurance (+3.9%);
  • motor insurance (+3.7%), underpinned by the increase in the number of policies taken out (+36,000 policies in the first half of 2026).

In health and protection, premium income continued to grow, rising by 6.5% to €4.0 billion as at 30 June 2026. This performance was driven by increases in:

  • group health and protection (+11.1%);
  • individual health insurance (+2.7%).

In savings and pensions, premium income increased significantly (+29.3%) to reach €2.1 billion at 30 June 2026. This growth resulted from:

  • individual euro-denominated savings and pensions (+43.2%);
  • individual unit-linked savings and pensions (+23.4%).

Net inflows in individual savings amounted to nearly €500 million as at 30 June 2026, compared with €96 million in the previous period, representing a significant reversal in the trend.

International

Operating in nine countries outside France, the Group generated international premium income of €1.9 billion as at 30 June 2026, up 8.1% at constant scope and exchange rates compared with the previous period. Performance was particularly strong in Bulgaria (+37.2%) and Romania (+17.1%), where Groupama maintained its leading market position.

Property and casualty insurance premium income totalled €1.4 billion as at 30 June 2026, up 10.9% compared with the previous period. This increase was driven in particular by:

  • agricultural business lines (+87.8%), mainly related to the newly consolidated Italian subsidiary ARA;
  • motor insurance (+9.1%), with particularly strong growth in Romania and Italy;
  • home insurance (+5.5%), with growth across all geographical areas.

Premium income in savings and pensions decreased by 6.8% to €280 million. Individual unit-linked savings and pensions declined by 5.3% over the period, while traditional savings and pensions decreased by 15.4%, mainly in Italy. Group pensions premium income increased by 2.9% compared with the previous period.

In health and protection, premium income increased by 12.9% to €251 million as at 30 June 2026, driven by growth in:

  • group protection (+18.5%);
  • group health insurance (+13.3%), mainly in Romania;
  • and individual protection (+13.1%).

Financial businesses

The Group’s premium income was €156 million, including €151 million from Groupama Asset Management and €5 million from Groupama Epargne Salariale. Groupama Asset Management’s assets under management increased by €3.7 billion to €111.3 billion at 30 June 2026.

Higher operating and net income

As at 30 June 2026, the Group’s economic operating income stood at €634 million, an increase of 26.0% compared with 30 June 2025.

In property and casualty insurance, economic operating income amounted to €349 million, up €66 million compared with 30 June 2025. This increase reflected an improvement in the property and casualty combined ratio, which stood at 92.5% at 30 June 2026, compared with 92.9% at 30 June 2025.

In health and protection, operating income amounted to €167 million compared with €132 million as at 30 June 2025. The combined ratio in health and protection improved by 1.3 points to 94.6% at 30 June 2026.

The Group’s combined non-life ratio stood at 93.3% at 30 June 2026, an improvement of 0.8 percentage points compared with 30 June 2025. This improvement was mainly driven by fewer large claims than in the previous period and higher prior-year reserve releases, while the impact of weather-related claims after reinsurance was virtually unchanged compared with 30 June 2025. The operating expense ratio remained stable at 28.7% as at 30 June 2026.

In savings and pensions, economic operating income stood at €158 million at 30 June 2026 compared with €137 million at 30 June 2025.

Economic operating income amounted to €32 million from financial businesses and -€73 million from the Group’s holding company business as at 30 June 2026.

The reconciliation of economic operating income to net income includes non-recurring items, in particular realised capital gains and losses, changes in the fair value of financial assets, financing expenses and the corporate tax surcharge relating to the 2025 and 2026 financial years. Overall, the Group’s net income amounted to €560 million as at 30 June 2026, up €110 million compared with the previous period.

A strengthened balance sheet

The Group’s IFRS equity totalled €13.4 billion at 30 June 2026, up €1.5 billion compared with 31 December 2025. The increase resulted mainly from:

  • the positive contribution of net income for the fiscal year;
  • the issue in January 2026 of perpetual subordinated instruments for €600 million;
  • and the favourable change in OCI reserves, reflecting the positive impact of developments in the financial markets. 

The Group’s contractual service margin, representing deferred future profits on long-term savings and protection contracts on a discounted basis, amounted to €4.8 billion as at 30 June 2026, up €385 million compared with 31 December 2025.

As at 30 June 2026, the Solvency II ratio was 240%, without applying the transitional measure on technical provisions. The 18-percentage-point increase compared with year-end 2025 was mainly due to:

  • the issue of perpetual subordinated instruments in January 2026 for €600 million;
  • income over the period;
  • and changes in financial market conditions.

Including the transitional measure on technical provisions authorised by the ACPR, the ratio stood at 284%.

The Group’s financial strength is reflected in Fitch Ratings’ confirmation of Groupama’s ‘A+’ rating with a ‘Stable’ outlook on 20 November 2025.

At 30/06/2026, the Groupama Group’s financial information consisted of:

  • this press release, which is available on the website www.groupama.com,
  • the Groupama Group half-year financial report, which will be filed with the AMF and published on www.groupama.com on 14 September 2026. The English-language version will be published on 26 September 2026.
Press contact:
Safia Bouda: 06 02 04 48 63
safia.bouda@groupama.com
—
Analyst and investor contacts:
Valérie Buffard: 06 70 04 12 38
valerie.buffard@groupama.com


Appendix: Groupama key figures

Premium Income (insurance premiums and other income)

€ million 30/06/2025 30/06/2026 Change *
as %
> France 10,982 11,945 +8.8%
Property and casualty insurance 5,644 5,897 +4.5%
Health and protection insurance 3,742 3,985 +6.5%
Savings and pensions 1,597 2,064 +29.3%
> International & Overseas territories 1,761 1,904 +8.1%
Property and casualty insurance 1,239 1,373 +10.9%
Health and protection insurance 222 251 +12.9%
Savings and pensions 300 280 -6.8%
TOTAL INSURANCE 12,743 13,849 +8.7%
Financial businesses 136 156 +14.7%
Groupama premium income 12,879 14,005 +8.7%

* Change at constant exchange rates

Net Income

€ million 30/06/2025 30/06/2026
Insurance – France 388 530
Insurance – International 164 145
Financial businesses 22 32
Holding companies -71 -73
Economic operating income* 503 634
Non-recurring financial margin 37 44
Other transactions -90 -118
Net income 450 560 

* Economic operating income: net income restated for realised capital gains and losses, allocations to and reversals of provisions for long-term impairment and unrealised gains and losses on financial assets recognised at fair value from property and casualty, health/personal protection, financial and holding company activities (these items being net of corporate income tax).  Non-recurring transactions net of tax, impairment of goodwill (net of tax) and external financing expenses are also restated. 

Balance Sheet

€ million 31/12/2025 30/06/2026
Equity 11,951 13,433
Subordinated debt 3,240 3,840
– classified as equity instruments  600 1,200
– classified as “Financing debt” 2,640 2,640
Contractual service margin* 4,446 4,831
Total balance sheet 94,163 98,552

* Contractual service margin (CSM): a component of the carrying amount of the asset or liability for a group of insurance contracts, representing the unearned profit that the entity will recognise in the income statement as it provides insurance services to policyholders.

Main Ratios

  30/06/2025 30/06/2026
Combined ratio 94.1% 93.3%
Debt-to-equity ratio* 19.4% 21.0%

* Debt ratio: ratio between subordinated debt (fixed-term and perpetual) and the sum of total capital employed (equity including perpetual subordinated debt and excluding reserves related to changes in the fair value of financial instruments) plus fixed-term subordinated debt plus the contractual service margin net of taxes

  31/12/2025 30/06/2026
Solvency II ratio (with transitional measure*) 274% 284%
Solvency II ratio (without transitional measure*) 222% 240%

* transitional measure on underwriting reserves

Financial Strength Rating – Fitch Ratings

  Rating * Outlook
Groupama Assurances Mutuelles and its subsidiaries A+ Stable

* Insurer Financial Strength (IFS)

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