Ad hoc announcement pursuant to Article 53 LR

• Swiss Re proposes to re-elect Jacques de Vaucleroy as a member of the Board of Directors and elect him as new Chairman of the Board of Directors for a one-year term
• Swiss Re proposes to elect Geraldine Matchett as a new member of the Board of Directors for a one-year term
• Swiss Re maintains a strong capital position; Group Swiss Solvency Test (SST) ratio of 306% as of 1 January 2024

Zurich, 13 March 2024 – Swiss Re today published its Annual Report, Sustainability Report for 2023 and the notice for the upcoming Annual General Meeting of shareholders (AGM) on 12 April 2024.

Consistent with its capital management priorities, Swiss Re continues to focus on ensuring superior capitalisation while remaining committed to its capital return policy and deploying capital to profitable growth opportunities. The Group's capital position remains strong with a Group SST ratio of 306% as of 1 January 2024. When combined with a positive business outlook, Swiss Re's Board of Directors decided to propose a 6% dividend increase to USD 6.80 per share.

Swiss Re's Vice Chairman Jacques de Vaucleroy said: "Swiss Re can look back on a successful year as it achieved all of its 2023 financial targets. This strong result in a demanding environment demonstrates that our business model is intact, enabling us to continue providing the sophisticated risk knowledge and peak risk capacity that our clients require to navigate existing and future perils."

Swiss Re's Economic Value Management (EVM) results

EVM is Swiss Re's proprietary integrated economic valuation and steering framework, which consistently measures economic performance across all businesses.

Swiss Re's total economic net worth (ENW) increased to USD 32.8 billion as of 31 December 2023 from USD 31.1 billion as of 31 December 2022. ENW per share was USD 112.89 as of 31 December 2023. ENW per share growth amounted to 10.8% in 2023.

Swiss Re reported a total contribution to ENW of USD 3.2 billion in 2023, compared with USD –1.6 billion in 2022. The result in 2023 reflects strong new business performance from Property & Casualty Reinsurance (P&C Re), Life & Health Reinsurance (L&H Re) and Corporate Solutions, as well as a good investment result. This was partially offset by adverse developments in previous years' business, especially in L&H Re due to assumption updates, and adverse mortality experience in the US.

With the adoption of IFRS as the new accounting basis as of 2024, Swiss Re will discontinue EVM reporting.

Publication of the Annual Report 2023 and the Sustainability Report 2023

Swiss Re today published its Annual Report 2023, consisting of the Business Report and the Financial Report, as well as its Sustainability Report 2023. The Business Report explores how Swiss Re's Business Units delivered on their financial targets in 2023, while also creating value for Swiss Re's stakeholders as Swiss Re navigated geopolitical instability, economic turmoil and elevated natural catastrophe risks. The Financial Report includes the audited consolidated and statutory financial statements of Swiss Re Ltd for 2023.

The Sustainability Report describes the Group Sustainability Strategy and its implementation across Swiss Re in 2023. It specifically describes progress made with regards to the Group's net-zero transition, such as setting new underwriting decarbonisation targets. The Sustainability Report will be submitted for the first time for a consultative vote to the AGM 2024.

Both the Annual Report 2023 and the Sustainability Report 2023 are available on Swiss Re's Annual Report website. In addition, the Swiss Reinsurance Company Ltd Annual Report 2023 is available here.

Swiss Re 2024 AGM

Swiss Re will propose the election of a new Chair of the Board of Directors at the AGM. Swiss Re's Board of Directors proposes the re-election of Jacques de Vaucleroy as a member of the Board of Directors and his election as the new Chairman of the Board of Directors for a one-year term. Jacques de Vaucleroy has been chairing the Board in his role as Vice Chairman since Sergio P. Ermotti's resignation on 30 April 2023. Jacques de Vaucleroy first joined Swiss Re's Board of Directors in 2017 and has over 30 years' experience in the insurance industry.

Swiss Re's Board of Directors nominates Geraldine Matchett for election as a new, non-executive and independent member of the Board for a one-year term. Geraldine Matchett was Co-Chief Executive Officer and Chief Financial Officer at DSM-Firmenich Ltd (formerly Royal DSM N.V.) from 2020 to 2023, where she served as CFO from 2014 to 2020. Prior to that, she was Global Chief Financial Officer and member of the Operations Council of the SGS Group in Switzerland. Geraldine Matchett is a Swiss, British and French citizen born in 1972. She holds a Master's degree in Sustainable Development from the University of Cambridge, United Kingdom and a Bachelor's degree in Physical and Human Geography from the University of Reading, United Kingdom.

Swiss Re's Vice Chairman Jacques de Vaucleroy said: "We are delighted to propose Geraldine Matchett for election to Swiss Re's Board of Directors. With her extensive experience in leading roles at international companies, she will complement well the existing expertise of the Board."

Furthermore, the notice for the 2024 AGM, published by the Board of Directors, includes but is not limited to:

• Proposal for a distribution of an ordinary dividend of USD 6.80 per share for the 2023 financial year
• Proposal for the re-election of all existing members of the Board of Directors for a one-year term of office
• Proposal for the re-election of the members of the Compensation Committee
• Approval of the compensation of the Board of Directors and the Group Executive Committee, as well as a consultative vote on the 2023 Compensation Report
• A consultative vote on the Sustainability Report 2023

This year's AGM will be held at 14:00 CEST on 12 April 2024 in the Hallenstadion, Zurich. The invitation to Swiss Re's 2024 AGM is available online here. Voting results will be published on the Group's website shortly after the AGM.

Media representatives who would like to attend the AGM can do so by registering here.