VIG Top Player in Austria and CEE. Austrian Investor Day. London, 29 January 2015

VIG Top Player in Austria and CEE Austrian Investor Day London, 29 January 2015

Contents Development 9M 2014 Successful Strategy Long-term Potential Regional Split 9M 2014 Preliminary Premiums YE 2014 and Financials 9M 2014

CEE performing well A solid quarter within expectations SUMMARY Profit before taxes increased to 430.8mn up 36.4% PBT burdened by impairments done in 6M 2014 (HAA bonds and Verkehrsbüro) Strong profit growth of 9.5% in CEE to 244.4mn Net profit after minorities of 327.7mn, up by 50.7% EPS 1 increased by outstanding 65.5% to 3.26 Premiums on a like-for-like basis 2 up by 3.6% y-o-y Premium development of minus 0.2% to 7.0bn impacted by FX movements Net combined ratio down to 97.2% Reduction of 3.5pp y-o-y out of improved claims and cost ratio Total cost ratio of VIG decreased by 8.4% compared to 9M 2009 1: EPS net of hybrid interest, annualised figures 2: Like-for-like excludes FX, Polish short-term endowment product (STEP), Italian business of Donau and first time consolidation of Skandia Poland and former AXA Hungary 3

Premiums impacted by FX movements CEE Remaining markets premiums excl. FX up by 8.9% FINANCIAL HIGHLIGHTS Gross written premiums ( mn; y-o-y chg.) -0.2% 7,050 55 Health 304-53 -13 Life 3,129 P&C 3,617 9M13 P&C Life Health Remarks 7,039 291 3,184 3,564 GWP regional split y-o-y chg. Austria 3,222 0% Czech Republic 1,281-3% Slovakia 549 0% Poland 809-4% Romania 244-11% Remaining markets 834 7% Central Functions 990-1% Consolidation -890-5% Group GWP 7,039 0% Premiums on a like-for-like basis 1 up by 3.6% y-o-y Excluding FX effects: Premiums grew 1.7% y-o-y excl. more than 130mn FX movements CEE premium growth of 1.1% despite reduction of Polish STEP GWP of Donau Italian business decreased from 136mn to 49mn (-64%) On Euro basis P&C business decreased by 1.5%, life business increased by 1.7% and health business down by 4.2% 1: Like-for-like excludes FX, Polish short-term endowment product (STEP), Italian business of Donau and first time consolidation of Skandia Poland and former AXA Hungary 4

Net profit after minorities up by more than 50% PBT improved out of strong P&C and health results FINANCIAL HIGHLIGHTS Profit before taxes ( mn; y-o-y change) PBT regional split 177 +36% Austria 151 y-o-y chg. 11% Health 316 25-84 22 431 47 155 Czech Republic Slovakia Poland Romania 128 43 49 3-12% 1% 0% n.a. Life 239 229 Remaining markets Central Functions 37 20 1% n.a. P&C 52 Consolidation 0 n.a. 9M13 P&C Life Health Group PBT 431 36% Remarks Profit before taxes of 430.8mn includes impairments done in 6M2014 (HAA bond impairment and Austrian participation Verkehrsbüro), first-time interest expenses out of newly issued subordinated bond and FX movements PBT in CEE increased by 9.5% to 244.4mn accounting for ~57% of overall profits and further improving diversification Strong profit development in Remaining CEE markets - adjusted for FX plus 6.8% EPS 1 increased by excellent 65.5% to 3.26 supported by capital optimisation 1: EPS net of hybrid interest, annualised figures 5

Improved combined ratios in all regional segments Combined ratio decreased to good 97.2% FINANCIAL HIGHLIGHTS CoR development (net, %) CoR 9M y-o-y regional development (net, %) -3.5pp Claims ratio 100.6 70.2 97.2 67.1 Cost ratio 30.4 30.1 9M13 Overall mid-term cost ratio development 1 (%) AT CZ SK PL RO Remaining 103.2 100.8 93.8 88.8 93.5 93.1 95.0 94.6 97.5 96.8 Weather related claims ( mn) 109.3-5.1pp -2.4pp -0.5pp -0.4pp 142.4-0.7pp -33.1pp 9M13 24.8 23.9 CAGR -1.7% 23.7 21.6 22.6 22.7 Gross claims -37% 276 174 Net impact +4% 110 115 9M09 9M10 9M11 9M12 9M13 9M13 9M13 1: Cost ratio includes all business line segments (P&C, life and health) Rounding differences may occur when rounded amounts or percentages are added up. 6

Contents Development 9M 2014 Successful Strategy Long-term Potential Regional Split 9M 2014 Preliminary Premiums YE 2014 and Financials 9M 2014

Strategic cornerstones of VIG Unique and well-proven business model of VIG to continue STRATEGY Concentration on Austria and CEE Focus on insurance business Pursue local entrepreneurship Multibrand policy as distribution catalyst Strategic partnership with Erste Group Bank 8

Dynamic Expansion into CEE out of Austria VIG with the most diversified network throughout the region STRATEGY 1990 3 Markets Client/talent base: 24mn people Today 25 Markets Client/talent base: 180mn people 9

Focus on insurance business Successful bancassurance in Austria and CEE STRATEGY Insurance business is core business of VIG Today around 50 insurance companies are part of VIG Business mix Health Customer mix SME Nearly all lines of retail and commercial business covered pension fund business being not core Focus on technical results (COR below 100%) Asset management is done with a very conservative profile to cover life and non-life reserves P&C 50% 4% 46% Life Corporate 5% 17% 78% Retail Cooperation between VIG and Erste Group VIG acquired insurance operations of Erste Group in 2008 At the same time the strategic mutual distribution agreement for 15 years plus renewal for 10 years started Today strong cooperation in 10 common markets Bank distribution is key in sale of life insurance 10

Local entrepreneurship as basis for success Clear commitment to local management STRATEGY Insurance business is local business Local management with best understanding of their markets and customer needs Members of the management board of VIG all have different country responsibilities and are members in the respective local Supervisory Board Close contact between local managers and the members of the board of VIG lean management structure Flexible reaction to changing market environment possible quick decision taking Local managers fully accountable for the performance of their companies Group steering Group guidelines of VIG to be strictly followed by all Group companies in terms of Asset management Reinsurance Reporting IT Security Calculation of Embedded Value and Solvency Best risk mitigation given by accountable managers selecting the right people is key 11

Unique market approach with long-term focus Multi-brand and multi-channel provide best access to customers STRATEGY Multi-brand Multi-channel Local brands with good customer recognition are retained Different brands target different client groups Multi-brand allows for internal benchmarking VIG pushes joint back-office activities and shared services within the markets <10% 11% - 20% 21% - 30% 31% - 40% > 41% Austria Tied agents Banks Brokers/Agents 1 2 Other Regular appraisal of brand efficiency otherwise merger of companies Czech Rep. Slovakia Romania Poland Hungary Croatia Others Multi-brand and multi-channel are paramount for VIG 1: Non-exclusive agents 2: Direct marketing, leasing, car dealers 12

Excellent market positions of VIG VIG the clear No 1 in its core markets STRATEGY Total market share AT 24.5% CZ 33.5% SK 33.6% PL 8.9% RO 18.2% BG 13.7% HR 8.1% RS 9.7% UA 4.2% HU 7.3% Source: local insurance authorities; data as of 3Q14 13

VIG strengthens its market position Very strong market share of 19% in its core markets STRATEGY 20% 17,9% 18,0% 19,4% 18,4% 19.0% VIG No.1 15% Italian competitor 10% Austrian competitor German competitor 5% 1.-3. Q 10' 1.-3. Q 11' 1.-3. Q 12' 1.-3. Q 13' 1.-3. Q 14' VIG almost twice as big as peers in its core markets Source: local market reports; market shares according to current composition of insurance groups (ex-post analysis); data as of 3Q14; 14

Adaptive growth policy (I) CEE growth potentials develop in a step function STRATEGY VIG Strategy: Elevate potential in changing market phases through adaptive growth policy Market growth Recovery stage Growth stage Time Accelerated growth - Accelerate growth in all business lines - Aggressive sales Differentiated growth - Consolidation of high margin business - Risk selection/revision of low margin business - Cost management 15

Adaptive growth policy (II) Elevate growth potentials correspondingly STRATEGY VIG Strategy: Elevate potential also during recovery phases through differentiated growth policies Market growth Recovery stage VIG Strategy Consolidation of high margin business Growth stage SME Push non-motor business Unit-linked life insurance Risk selection/revision of low margin business Time Selektive underwriting BG, RO Descending motor fleet PL Reduction STEP PL Accelerated growth Differentiated growth Cost management Reduction administrative costs 16

Contents Development 9M 2014 Successful Strategy Long-term Potential Regional Split 9M 2014 Preliminary Premiums YE 2014 and Financials 9M 2014

Insurance growth is a catching-up process Model of insurance demand development still valid POTENTIAL 2000 2013 Insurance density in EUR 2.500 2.000 1.500 AT AT 1.000 500 CZ PL SK HU CZ PL HU SK RO 0 RO 1.000,0 6.000,0 36.000,0 GDP per capita in EUR GDP growth and catch-up process are insurance drivers Source: Swiss Re Sigma, IMF 18

Striking under-penetration shows potential Annual premiums per capita (insurance density), in EUR POTENTIAL 2,713 9x Life 1,954 Non-life 212 548 399 351 272 275 123 88 75 59 Ø EU-15 AT Ø CEE CZ SK PL HR HU BG RO SR UA Long-term growth potential in CEE still lies ahead Source: Local insurance authorities; IMF; Swiss Re Sigma ; CEE: weighted average of CEE core markets; Data as of year-end 2013 19

CEE offers access to long-term growth potential Presence in more mature markets as well as in high growth countries POTENTIAL Core region Population ~ 34 mn Ø-premium per capita 794 EUR Ø-premium per capita in AT 1,954 EUR Contribution to GWP ~ 73% Growth region Population ~ 119 mn Ø-premium per capita 171 EUR Contribution to GWP ~ 19% Balkan region Population ~ 25 mn Ø-premium per capita 172 EUR Contribution to GWP ~ 2% Data as of YE 2013 20

Fundamental indicators for motor business in CEE Number of registered cars in CEE shows motor under-penetration POTENTIAL Age of registered cars in VIG countries 1 Number of registered cars per 1000 inhabitants 2 2% 4% 4% 6% 7% 9% 18% 17% 23% 7% 8% 4% 7% 7% 11% 13% 18% 17% 19% 22% 20% 28% 26% 32% 14% 19% 31% 73% 72% 64% 60% 59% 50% 50% 42% 37% BH 2010 PL 2011 RS 2010 CZ 2011 TR 2010 RO 2011 HR 2011 HU 2010 AT 2012 < or = 2yrs 2 > or = 5yrs 5 > or = 10yrs > 10yrs Twofold opportunity: catch-up in motor penetration creates MTPL demand and exchange of old vehicles increases potential for Casco insurance Potential of additional 10mn vehicles to be insured when only motor penetration in CZ, SK, PL and RO reach current level of AT Extraordinary market positions and broad distribution network will help VIG to make best use of future market developments Source: 1: www.unece.org, for Slovakia no data available, 2: wiiw.at, unece.org, 21

Macroeconomic upswing in VIG markets Promising macro data for the years to come POTENTIAL Improving macro data of regions where VIG operates in Positive Remains constant Negative PL RO GDP Inflation Unemployment GDP per capita Investments Savings rate Export Budget balance Government debt Account balance 2014 2015 2016 2014 2015 2016 2014 2015 2016 2014 2015 2016 2014 2015 2016 2: Source: IMF: World economic outlook database, October 2014 22

Contents Development 9M 2014 Successful Strategy Long-term Potential Regional Split 9M 2014 Preliminary Premiums YE 2014 and Financials 9M 2014

Austria - burdened by Italy and impairments in 2014 Premiums in P&C up 3.8% excl. Italian business of Donau REGIONAL SPLIT GWP for 9M 2014 ( mn) P&C GWP direct business split 1-0.2% P&C 3,229 1,524 3,222 1,490 MTPL 19% (23%) Health Life 267 275 1,438 1,457 Remaining 67% (63%) 14% (13%) Casco 9M13 P&L: P&C business ( mn) P&L: Life business ( mn) Y-o-Y Y-o-Y Underwriting and financial result 56.0 85.5% Other non-technical result 2.6 n.a. Result (pre tax) 58.6 >100% Underwriting and financial result 58.2-47.0% Other non-technical result -2.1 n.a. Result (pre tax) 56.0-50.1% Claims ratio 73.4% -1.5pp Cost ratio 27.4% -0.9pp Combined ratio 100.8% -2.4pp 1: Figures in brackets referring to previous year Rounding differences may occur when rounded amounts or percentages are added up. 24

Czech Republic excellent combined ratio GWPs adjusted for negative FX effects up by 3.8% REGIONAL SPLIT GWP for 9M 2014 ( mn) P&C GWP direct business split 1-2.8% P&C 1,318 1,281 689 635 Remaining 48% (51%) 31% (29%) MTPL Life 629 645 9M13 21% (20%) Casco P&L: P&C business ( mn) P&L: Life business ( mn) Y-o-Y Y-o-Y Underwriting and financial result 80.9 42.3% Other non-technical result -7.6 >100%. Result (pre tax) 73.3 29.5% Underwriting and financial result 52.5-41.2% Other non-technical result 1.8 n.a. Result (pre tax) 54.3-38.5% Claims ratio 61.5% -6.1pp Cost ratio 27.3% 1.0pp Combined ratio 88.8% -5.1pp 1: Figures in brackets referring to previous year Rounding differences may occur when rounded amounts or percentages are added up. 25

Slovakia solid profit contribution Good profit development in P&C REGIONAL SPLIT GWP for 9M 2014 ( mn) P&C GWP direct business split 1 +0.1% 548 549 P&C 251 252 Remaining 34% (32%) 40% (41%) MTPL Life 297 297 27% (27%) 9M13 Casco P&L: P&C business ( mn) P&L: Life business ( mn) Y-o-Y Y-o-Y Underwriting and financial result 16.8 12.5 Other non-technical result 3.3 n.a. Result (pre tax) 20.1 41.4% Underwriting and financial result 22.2-19.8% Other non-technical result 0.7-16.6% Result (pre tax) 22.9-19.7% Claims ratio 53.5% -1.3pp Cost ratio 39.6% 0.8pp Combined ratio 93.1% -0.5pp 1: Figures in brackets referring to previous year Rounding differences may occur when rounded amounts or percentages are added up. 26

Poland pressure in motor ongoing Increase in non-motor business with a CAGR (9M12-14) of 8.2% REGIONAL SPLIT GWP for 9M 2014 ( mn) P&C GWP direct business split 1-3.7% P&C 841 809 424 427 Remaining 43% (42%) 32% (33%) MTPL Life 417 383 25% (25%) 9M13 Casco P&L: P&C business ( mn) P&L: Life business ( mn) Y-o-Y Y-o-Y Underwriting and financial result 39.6 0.9% Other non-technical result -0.4 n.a. Result (pre tax) 39.2-1.0% Underwriting and financial result 8.4-7.1% Other non-technical result 1.1 n.a. Result (pre tax) 9.5 6.0% Claims ratio 56.2% -4.2pp Cost ratio 38.4% 3.8pp Combined ratio 94.6% 0.4pp 1: Figures in brackets referring to previous year Rounding differences may occur when rounded amounts or percentages are added up. 27

Romania positive signs on the MTPL market Regulator supports substantial changes for motor as of 1.1.2015 REGIONAL SPLIT GWP for 9M 2014 ( mn) P&C GWP direct business split 1-11.2% P&C 275 219 244 209 Remaining 32% (36%) 38% (29%) MTPL Life 56 35 29% (35%) 9M13 Casco P&L: P&C business ( mn) P&L: Life business ( mn) Y-o-Y Y-o-Y Underwriting and financial result -2.5-92.1% Other non-technical result 0.0 n.a. Result (pre tax) -2.5-92.2% Underwriting and financial result 5.0 n.a. Other non-technical result 0.1 n.a. Result (pre tax) 5.1 n.a. Claims ratio 66.6% -34.6pp Cost ratio 42.7% 1.5pp Combined ratio 109.3% -33.1pp 1: Figures in brackets referring to previous year Rounding differences may occur when rounded amounts or percentages are added up. 28

Remaining markets premiums excl. FX up 12.7% Strong combined ratio of below 97% REGIONAL SPLIT GWP for 9M 2014 ( mn) P&C GWP direct business split 1 +6.7% P&C Health Life 782 460 37 284 834 459 16 359 Remaining MTPL 23% (21%) 58% (57%) 19% (22%) Casco 9M13 P&L: P&C business ( mn) P&L: Life business ( mn) Y-o-Y Y-o-Y Underwriting and financial result 29.2 5.7% Other non-technical result -1.1 n.a. Result (pre tax) 28.1 0.9% Underwriting and financial result 14.7 24.4% Other non-technical result -5.2 >100% Result (pre tax) 9.4-8.5% Claims ratio 58.9% 4.0pp Cost ratio 37.9% -4.7pp Combined ratio 96.8% -0.7pp 1: Figures in brackets referring to previous year Rounding differences may occur when rounded amounts or percentages are added up. 29

Contents Development 9M 2014 Successful Strategy Long-term Potential Regional Split 9M 2014 Preliminary Premiums YE 2014 and Financials 9M 2014

Preliminary YE 2014 premium developments Direct premiums (unconsolidated, unaudited) of EUR 9.4bn APPENDIX Premium development ( mn; y-o-y change) Premium split regional ( mn) Health Life P&C -0.1% 9,387 60 9,374 398-61 -12 386 4,207 4,267 4,782 4,721 y-o-y chg. Austria 4,072 0.1% Czech Republic 1,872-2.5% Slovakia 735-1.9% Poland 1,090-5.2% Romania 355-4.9% Remaining markets 1,186 10.0% Central Functions 64 35.5% 12M13 P&C Life Health 12M14 Group GWP 12M14 9,374-0.1% Remarks Robust premium development despite negative FX impact Organic growth of 2.6% excluding special effects P&C premiums slightly down by 1.3% due to FX effects (EUR -105mn) and the reduction of the Italian business of Donau Versicherung (EUR -96mn) Life premium increase of 1.4% in spite of reduction of Polish short-term endowment business Remaining markets segment continues to grow substantially by 10.0% Rounding differences may occur when rounded amounts or percentages are added up. 31

Preliminary YE 2014 premiums per country Direct premiums (unconsolidated, unaudited) in EURmn APPENDIX mn GWP P&C GWP Life GWP Health GWP Total YE 2014 YE 2013 +/- % YE 2014 YE 2013 +/- % YE 2014 YE 2013 +/- % YE 2014 YE 2013 +/- % Austria 1,833.5 1,866.7-1.8 1,870.3 1,844.3 1.4 368.1 357.5 3.0 4,071.9 4,068.4 0.1 Czech Rep. 1,013.4 1,046.0-3.1 858.2 873.4-1.7 - - - 1,871.6 1,919.4-2.5 Slovakia 339.3 331.0 2.5 395.9 418.6-5.4 - - - 735.1 749.6-1.9 Poland 557.4 567.7-1.8 532.3 582.3-8.6 - - - 1,089.7 1,150.0-5.2 Romania 301.1 301.8-0.2 54.4 72.2-24.7 - - - 355.5 373.9-4.9 Remaining 612.3 621.9-1.5 555.6 416.4 33.4 18.1 40.4-55.1 1,186.0 1,078.7 10.0 Hungary 73.5 85.6-14.1 129.5 81.8 58.2 - - - 203.0 167.5 21.2 Croatia 37.0 37.2-0.5 56.6 54.0 4.8 - - - 93.6 91.3 2.6 Serbia 31.9 27.7 15.0 25.8 29.1-11.4 - - - 57.7 56.8 1.4 Bulgaria 87.5 88.3-0.9 27.8 23.6 17.7 - - - 115.3 111.9 3.0 Bosnia&Herz. 13.1 11.4 15.3 0.8 0.5 49.8 - - - 13.9 11.9 16.8 Ukraine 60.2 76.8-21.6 3.1 3.9-20.9 - - - 63.3 80.7-21.6 Turkey 127.4 136.5-6.7 - - - - - - 127.4 136.5-6.7 Baltics - - - 51.6 42.0 22.8 - - - 51.6 42.0 22.8 Albania 34.0 24.4 39.2 - - - - - - 34.0 24.4 39.2 Georgia 20.8 14.7 41.4 4.1 2.9 43.1 18.1 40.4-55.1 43.0 58.0-25.7 Montenegro - - - 2.3 1.2 91.6 - - - 2.3 1.2 91.6 Macedonia 25.0 22.0 13.7 1.4 0.9 47.3 - - - 26.4 22.9 15.1 Liechtenstein - - - 170.8 98.1 74.1 - - - 170.8 98.1 74.1 Germany 93.1 86.5 7.7 81.9 78.3 4.6 - - - 175.0 164.8 6.2 Belarus 8.8 10.8-18.1 - - - - - - 8.8 10.8-18.1 Central Functions 64.0 47.3 35.5 - - - - - - 64.0 47.3 35.5 Total 4,721.0 4,782.3-1.3 4,266.7 4,207.1 1.4 386.2 397.8-2.9 9,373.9 9,387.2-0.1 Note: Albania is including Kosovo Rounding differences may occur when rounded amounts or percentages are added up. 32

9M 2014 Income statement IFRS ( mn) APPENDIX mn 9M 2014 9M 2013 +/-% Gross premiums written 7,038.6 7,050.1-0.2 Net earned premiums 6,326.7 6,364.3-0.6 1 Financial result 844.1 892.1-5.4 Other income 81.8 96.9-15.6 Total income 7,252.6 7,353.4-1.4 Expenses for claims and insurance benefits -5,297.4-5,395.7-1.8 Acquisition and administrative expenses -1,374.3-1,378.2-0.3 Other expenses -150.1-263.6-43.1 Total expenses -6,821.8-7,037.5-3.1 Profit before taxes 430.8 315.9 36.4 Taxes -91.6-83.5 9.7 Net profit (Profit for the period) 339.3 232.5 45.9 Non-controlling interests -11.5-14.9-22.8 Net profit after non-controlling interests 327.7 217.5 50.7 1: Incl. result from shares in at equity consolidated companies 33

9M 2014 Balance sheet IFRS ( mn) APPENDIX mn 30.09.2014 31.12.2013 +/-% Intangible assets 2,366 2,266 4.4 Investments 30,162 29,201 3.3 Unit- and index-linked investments 7,694 6,707 14.7 Reinsurers share in underwriting provisions 1,109 1,028 7.9 Receivables 1,510 1,561-3.2 Tax receivables and advance payments out of income tax 112 82 36.7 Deferred tax assets 88 92-4.3 Other assets 334 335-0.2 Cash and cash equivalents 889 705 26.1 Total assets 44,265 41,977 5.5 Shareholders equity 5,452 5,020 8.6 thereof minorities 170 170-0.2 Subordinated liabilities 1,022 1,030-0.8 Underwriting provisions 27,713 25,980 6.7 Unit- and index-linked technical provisions 7,309 6,489 12.6 Non-underwriting provisions 582 600-3.0 Liabilities 1,659 2,432-31.8 Tax liabilites out of income tax 68 63 9.1 Deferred tax liabilities 270 167 61.4 Other liabilities 189 195-2.7 Total liabilities and equity 44,265 41,977 5.5 34

9M 2014 P&L Property & Casualty IFRS ( mn) APPENDIX mn 9M 2014 9M 2013 +/-% Gross premiums written 3,563.5 3,617.0-1.5 Net earned premiums 2,864.1 2,956.0-3.1 Financial result 146.2 173.3-15.6 Other income 52.3 57.0-8.3 Total income 3,062.6 3,186.3-3.9 Expenses for claims and insurance benefits -1,921.6-2,075.5-7.4 Acquisition and administrative expenses -826.1-857.9-3.7 Other expenses -85.6-200.7-57.3 Total expenses -2,833.3-3,134.1-9.6 Profit before taxes 229.3 52.2 >100 Rounding differences may occur when rounded amounts or percentages are added up. 35

9M 2014 P&L Life IFRS ( mn) APPENDIX mn 9M 2014 9M 2013 +/-% Gross premiums written 3,184.0 3,129.4 1.7 Net earned premiums 3,165.6 3,110.9 1.8 Financial result 670.1 711.2-5.8 Other income 29.2 39.8-26.6 Total income 3,864.9 3,861.9 0.1 Expenses for claims and insurance benefits -3,134.7-3,076.9 1.9 Acquisition and administrative expenses -512.5-484.6 5.8 Other expenses -63.0-61.3 2.8 Total expenses -3,710.2-3,622.8 2.4 Profit before taxes 154.7 239.1-35.3 Rounding differences may occur when rounded amounts or percentages are added up. 36

9M 2014 P&L Health IFRS ( mn) APPENDIX mn 9M 2014 9M 2013 +/-% Gross premiums written 291.1 303.7-4.2 Net earned premiums 297.1 297.4-0.1 Financial result 27.7 7.6 >100 Other income 0.3 0.1 >100 Total income 325.0 305.1 6.5 Expenses for claims and insurance benefits -241.1-243.3-0.9 Acquisition and administrative expenses -35.7-35.6 0.2 Other expenses -1.5-1.6-9.2 Total expenses -278.2-280.6-0.8 Profit before taxes 46.8 24.6 90.2 Rounding differences may occur when rounded amounts or percentages are added up. 37

9M 2014 Financial result decreased by 5.4% Impact of impairments of Hypo Alpe Adria bonds and Verkehrsbüro APPENDIX Income P&C Life Health Total in '000 9M 2014 9M 2013 9M 2014 9M 2013 9M 2014 9M 2013 9M 2014 9M 2013 Current income 208,460 261,588 645,157 665,688 32,906 30,114 886,523 957,390 Income from appreciations 19,880 14,158 12,639 23,736 673 0 33,193 37,894 Income from the disposal of investments 60,295 40,730 108,968 112,757 956 1,293 170,219 154,780 Other income 26,047 5,056 39,063 28,757 47 0 65,157 33,813 Total Income 314,683 321,532 805,827 830,938 34,582 31,407 1,155,092 1,183,877 Expenses P&C Life Health Total in '000 9M 2014 9M 2013 9M 2014 9M 2013 9M 2014 9M 2013 9M 2014 9M 2013 Depreciation of investments 19,063 38,742 24,175 31,814 1,850 2,846 45,088 73,402 Impairment of investments 16,082 5,194 27,611 9,008 469 11,077 44,162 25,279 Exchange rate changes -5,250 4,076-12,331-1,833-444 93-18,024 2,336 Losses from the disposal of investments 13,594 12,354 22,794 16,331 352 4,240 36,739 32,925 Interest expenses 42,394 28,628 14,615 16,796 658 1,526 57,667 46,950 Other expenses 82,584 59,242 58,816 47,631 4,001 3,994 145,401 110,867 Total Expenses 1 168,467 148,236 135,679 119,747 6,887 23,776 311,033 291,759 Total Financial Result 146,216 173,296 670,148 711,191 27,695 7,631 844,059 892,118 Note: Financial result incl. result from shares in at equity consolidated companies 38

9M 2014 Investment split Well diversified bond portfolio APPENDIX 9M 2014: Total 31.1bn Bond portfolio by rating 1 6.8% 3.5% 0.0% Other BBB A 6% 5% 12% 12% 38% 38% 10.2% AA 28% 30% 5.8% AAA 16% 15% 3.6% 12M 2013 Bond portfolio by issuer 9M 2014 70.1% Corporates 13% 14% Financials 23% 21% Pfandbriefe/ Covered bonds 9% 9% Bonds Equities Real Estate Loans Affiliated Comp. Alternatives Deposits and Cash Government 2 55% 56% 12M 2013 9M 2014 1: Based on second best rating 2: Government, government guaranteed and gov.agencies Rounding differences may occur when rounded amounts or percentages are added up. 39

9M 2014 Strong equity and solvency position Shareholders equity increase driven by profit and unrealised gains APPENDIX Change in Group shareholders equity ( mn) +9% 5,020 339-18 306 6-200 2-3 5,452 Equity as of YE 2013 Profit for the period Currency changes AFS unrealised gains and losses Changes in consolidation Dividend payment IAS19 At equity Equity as of 9M 2014 Strong solvency 1 ratio of 295% Available capital 5,226 Required capital 700 1,052 22 1,774 Solvency 1 Ratio: 295% P&C Life Health Rounding differences may occur when rounded amounts or percentages are added up. 40

9M 2014 Key financials Overview APPENDIX Net profit after minorities ( mn) Combined ratio (net, %) 407 426 96.8 96.7 100.6 96.9 100.6 97.2 342 328 235 218 2011 2012 2013 9M12 9M13 2011 2012 2013 9M12 9M13 EPS 1 ( ) ROE before taxes (%) 2.87 3.01 3.25 3.26 11.1 10.5 11.2 11.0 1.57 1.97 6.6 7.8 2011 2012 2013 9M12 9M13 2011 2012 2013 9M12 9M13 1: EPS net of hybrid interest, annualised figures Rounding differences may occur when rounded amounts or percentages are added up. 41

9M 2014 Gross written premiums by region Flat premiums y-o-y impacted by FX effects APPENDIX mn GWP P&C GWP Life GWP Health GWP Total 9M 2014 9M 2013 +/-% 9M 2014 9M 2013 +/-% 9M 2014 9M 2013 +/-% 9M 2014 9M 2013 +/-% Austria 1,490.0 1,524.5-2.3% 1,457.4 1,438.3 1.3% 274.8 266.5 3.1% 3,222.3 3,229.3-0.2% Czech Rep. 635.2 689.4-7.9% 645.4 628.6 2.7% - - - 1,280.6 1,318.0-2.8% Slovakia 252.3 251.0 0.5% 296.7 297.3-0.2% - - - 549.0 548.3 0.1% Poland 426.7 423.9 0.7% 382.6 416.9-8.2% - - - 809.2 840.8-3.7% Romania 208.6 219.1-4.8% 35.3 55.6-36.5% - - - 243.8 274.6-11.2% Remaining 458.9 460.4-0.3% 358.6 283.9 26.3% 16.3 37.2-56.3% 833.7 781.5 6.7% Austria: solid development; growth of 2.6% excl. Italian business of Donau Czech Republic: excluding FX effects: - premiums overall up 3.8% - strong growth in life by 9.7% - slight decrease of 1.6% in P&C Slovakia: stable development Poland: STEP is driver for decrease; life premiums up 7.5% excl. first time consolidation of Skandia and excl. Benefia Life Romania: strong decrease in life driven by sales stop of Employee Benefit Product Remaining markets: premium development impacted by currency effects; excl. FX overall premiums up by 12.7%; health business decrease in Georgia due to termination of a national health programme Rounding differences may occur when rounded amounts or percentages are added up. 42

9M 2014 P&L Split by regions (I) Regional markets overview, IFRS ( mn) APPENDIX mn Austria Czech Republic Slovakia 9M 2014 9M 2013 +/-% 9M 2014 9M 2013 +/-% 9M 2014 9M 2013 +/-% Gross premiums written 3,222.3 3,229.3-0.2 1,280.6 1,318.0-2.8 549.0 548.3 0.1 Net earned premiums 2,595.0 2,577.5 0.7 1,031.1 1,059.5-2.7 448.7 448.8 0.0 Financial result 606.5 618.7-2.0 85.8 94.0-8.7 38.6 35.5 8.7 Other income 19.8 9.3 >100 22.7 34.1-33.3 6.7 6.5 3.0 Total income 3,221.4 3,205.4 0.5 1,139.7 1,187.6-4.0 494.1 490.9 0.7 Expenses for claims/benefits -2,581.1-2,567.9 0.5-751.5-761.1-1.3-365.1-366.1-0.3 Acquisition and administrative expenses -466.6-454.8 2.6-233.7-250.0-6.5-65.3-66.7-2.1 Other expenses -22.5-46.0-51.1-26.9-31.6-14.9-20.6-15.3 35.3 Total expenses -3,070.2-3,068.6 0.0-1,012.1-1,042.7-2.9-451.0-448.1 0.7 Profit before taxes 151.2 136.7 10.6 127.6 144.9-11.9 43.1 42.8 0.6 Combined Ratio 100.8% 103.2% 88.8% 93.8% 93.1% 93.5% Rounding differences may occur when rounded amounts or percentages are added up. 43

9M 2014 P&L Split by regions (II) Regional markets overview, IFRS ( mn) APPENDIX mn Poland Romania Remaining 9M 2014 9M 2013 +/-% 9M 2014 9M 2013 +/-% 9M 2014 9M 2013 +/-% Gross premiums written 809.2 840.8-3.7 243.8 274.6-11.2 833.7 781.5 6.7 Net earned premiums 663.7 681.6-2.6 132.6 142.2-6.7 626.4 575.6 8.8 Financial result 39.4 43.9-10.3 9.6 11.0-12.2 64.6 57.7 12.0 Other income 5.0 6.1-17.0 14.0 13.0 7.9 11.9 18.7-36.0 Total income 708.1 731.6-3.2 156.2 166.1-6.0 703.0 652.0 7.8 Expenses for claims/benefits -458.2-513.8-10.8-86.9-125.1-30.5-460.4-407.7 12.9 Acquisition and administrative expenses -192.6-161.9 18.9-54.2-56.7-4.3-151.3-161.2-6.1 Other expenses -8.6-7.3 17.9-12.4-20.4-39.2-54.0-46.1 17.2 Total expenses -659.4-683.0-3.5-153.6-202.2-24.0-665.7-614.9 8.2 Profit before taxes 48.7 48.6 0.3 2.6-36.1 n.a. 37.3 37.1 0.5 Combined Ratio 94.6% 95.0% 109.3% 142.4% 96.8% 97.5% Rounding differences may occur when rounded amounts or percentages are added up. 44

9M 2014 P&L Split by regions (III) Regional markets overview, IFRS ( mn) APPENDIX mn Central Functions Consolidation TOTAL 9M 2014 9M 2013 +/-% 9M 2014 9M 2013 +/-% 9M 2014 9M 2013 +/-% Gross premiums written 989.6 996.7-0.7-889.8-939.1 n.a. 7,038.6 7,050.1-0.2 Net earned premiums 831.1 875.4-5.1-2.0 3.7 n.a. 6,326.7 6,364.3-0.6 Financial result -0.5 30.5 n.a. 0.0 0.9 n.a. 844.1 892.1-5.4 Other income 2.3 9.6-75.7-0.8-0.3 n.a. 81.8 96.9-15.6 Total income 832.9 915.4-9.0-2.8 4.4 n.a. 7,252.6 7,353.4-1.4 Expenses for claims/benefits -594.4-655.3-9.3 0.1 1.2 n.a. -5,297.4-5,395.7-1.8 Acquisition and administrative expenses -213.1-220.5-3.4 2.5-6.4 n.a. -1,374.3-1,378.2-0.3 Other expenses -5.5-97.8-94.4 0.5 0.9 n.a. -150.1-263.6-43.1 Total expenses -812.9-973.6-16.5 3.1-4.3 n.a. -6,821.8-7,037.5-3.1 Profit before taxes 20.0-58.2 n.a. 0.3 0.1 n.a. 430.8 315.9 36.4 Combined Ratio 97.2% 100.6% Rounding differences may occur when rounded amounts or percentages are added up. 45

9M 2014 Results by country (I) IFRS ( mn) APPENDIX mn GWP P&C GWP Life GWP Health GWP Total 9M 2014 9M 2013 +/-% 9M 2014 9M 2013 +/-% 9M 2014 9M 2013 +/-% 9M 2014 9M 2013 +/-% Austria 1,490.0 1,524.5-2.3% 1,457.4 1,438.3 1.3% 274.8 266.5 3.1% 3,222.3 3,229.3-0.2% Czech Rep. 635.2 689.4-7.9% 645.4 628.6 2.7% - - - 1,280.6 1,318.0-2.8% Slovakia 252.3 251.0 0.5% 296.7 297.3-0.2% - - - 549.0 548.3 0.1% Poland 426.7 423.9 0.7% 382.6 416.9-8.2% - - - 809.2 840.8-3.7% Romania 208.6 219.1-4.8% 35.3 55.6-36.5% - - - 243.8 274.6-11.2% Remaining 458.9 460.4-0.3% 358.6 283.9 26.3% 16.3 37.2-56.3% 833.7 781.5 6.7% Hungary 55.6 62.7-11.3% 72.2 52.0 38.7% - - - 127.7 114.7 11.4% Croatia 27.2 27.6-1.4% 40.8 40.3 1.1% - - - 68.0 67.9 0.1% Serbia 32.4 28.2 14.9% 18.1 17.6 3.0% - - - 50.5 45.8 10.3% Bulgaria 67.8 68.9-1.6% 21.6 17.7 22.1% - - - 89.5 86.7 3.2% Bosnia&Herz. 8.1 8.3-1.9% 0.5 0.3 49.4% - - - 8.6 8.6 0.1% Uk raine 45.4 55.0-17.5% 2.2 2.8-22.5% - - - 47.6 57.8-17.7% Turkey 93.4 99.8-6.4% - - - - - - 93.4 99.8-6.4% Georgia 15.6 12.8 21.9% - - - 16.3 37.2-56.3% 31.8 50.0-36.3% Baltics - - - 37.2 29.7 25.5% - - - 37.2 29.7 25.5% Albania 24.6 18.2 35.6% - - - - - - 24.6 18.2 35.6% Macedonia 19.6 14.7 32.6% 0.0 0.0-25.6% - - - 19.6 14.8 32.4% Liechtenstein - - - 104.6 66.1 58.3% - - - 104.6 66.1 58.3% Germany 69.3 64.3 7.7% 61.3 57.3 7.0% - - - 130.6 121.6 7.4% Rounding differences may occur when rounded amounts or percentages are added up. 46

9M 2014 Results by country (II) IFRS ( mn) APPENDIX mn Profit before Taxes Net Combined Ratio 9M 2014 9M 2013 +/-% 9M 2014 9M 2013 +/-pp Austria 151.2 136.7 10.6% 100.8% 103.2% -2.4 Czech Rep. 127.6 144.9-11.9% 88.8% 93.8% -5.1 Slovakia 43.1 42.8 0.6% 93.1% 93.5% -0.5 Poland 48.7 48.6 0.3% 94.6% 95.0% -0.4 Romania 2.6-36.1 n.a. 109.3% 142.4% -33.1 Remaining 37.3 37.1 0.5% 96.8% 97.5% -0.7 Hungary 2.6 2.4 9.7% 107.0% 105.9% 1.1 Croatia 5.9 5.6 5.1% 99.8% 96.1% 3.7 Serbia 0.9 2.0-53.2% 90.7% 103.3% -12.6 Bulgaria 1.7 1.1 52.6% 99.4% 99.6% -0.2 Bosnia&Herz. -0.4 0.0 >100% 172.8% 94.1% 78.7 Uk raine 3.0 3.8-21.2% 99.7% 103.9% -4.2 Turk ey 2.8 2.7 4.0% 100.6% 102.6% -2.0 Georgia 2.2 1.9 15.4% 72.7% 63.3% 9.4 Baltics 0.4 0.9-58.3% - - - Albania 1.6 1.4 14.7% 90.0% 92.0% -2.0 Macedonia 1.6 1.2 34.3% 91.9% 89.7% 2.1 Liechtenstein 0.0 0.1-78.3% - - - Germany 14.9 14.0 6.6% 83.1% 84.6% -1.5 Rounding differences may occur when rounded amounts or percentages are added up. 47

9M 2014 P&C Claims and cost ratio details APPENDIX Claims ratio 9M y-o-y regional development (net, %) Remarks for claims incurred 9M13-1.5 74.9 73.4 AT -6.1 67.5 61.5 CZ -1.3-4.2 54.753.5 60.4 56.2 SK PL -34.6 101.2 66.6 RO +4.0 54.9 58.9 Remaining Austria: claims ratio down 1.5pp driven by Donau Versicherung (in 9M 2013 reserve strengthening for Italian branch office business) Czech Republic: decrease of 6.1pp due to reduced natcat impact in 9M 2014 compared to last year Slovakia: claims ratio decreased to 53.5% Poland: decrease in claims due to shift to non-motor and disciplined motor underwriting Romania: claims ratio down to 66.6% as a result of taken restructuring measures last year Remaining markets: claims ratio up by 4.0pp due to local natcat events (especially in Bosnia) Cost ratio 9M y-o-y regional development (net, %) Remarks for acquisition and admin. expenses 9M13-0.9 28.327.4 +1.0 26.327.3 +0.8 38.839.6 +3.8 38.4 34.6 +1.5 41.3 42.7-4.7 42.6 37.9 Austria and Slovakia with rather stable cost ratios Czech Republic: cost ratio up 1.0pp Poland: cost ratio up 3.8pp due to higher commissions Romania: cost ratio only slightly increased to 42.7% - restructuring ongoing Remaining markets: cost ratio decreased to 37.9%, improving the COR for the remaining markets to 96.8% AT CZ SK PL RO Remaining Note: Change y-o-y is in percentage points Rounding differences may occur when rounded amounts or percentages are added up. 48

9M 2014 Life insurance premium split IFRS ( mn) APPENDIX Premiums written - direct business 9M 2014 9M 2013 +/- % Regular premiums 1,728 1,726 0.1% Single premiums 1,444 1,391 3.8% Total premiums written - direct business 3,172 3,117 1.8% thereof: Policies with profit participation 1,368 1,464-6.6% Policies without profit participation 586 568 3.2% unit linked life insurance 1,170 1,012 15.6% index linked life insurance 48 73-33.7% 49

Q3 2014 Income Statement IFRS ( mn) APPENDIX mn Q3 2014 Q3 2013 +/-% Gross premiums written 2,054.8 2,020.4 1.7 Net earned premiums 2,005.2 1,956.5 2.5 Financial result 292.5 299.1-2.2 Other income 23.7 15.0 58.6 Total income 2,321.4 2,270.6 2.2 Expenses for claims and insurance benefits -1,694.8-1,661.0 2.0 Acquisition and administrative expenses -442.2-442.0 0.0 Other expenses -44.5-57.3-22.4 Total expenses -2,181.4-2,160.3 1.0 Profit before taxes 140.0 110.2 27.0 Taxes -22.1-24.2-8.6 Net profit (Profit for the period) 117.8 86.0 37.0 Minorities -3.6-9.0-60.6 Net profit after non-controlling interests 114.3 77.0 48.4 50

9M 2014 Exchange rates APPENDIX 9M 2014 9M 2013 Country Curr. Balance Sheet EUR P & L EUR Balance Sheet EUR P & L EUR Albania EUR/ALL 139.8900 140.0483 141.3700 140.2293 Belarus EUR/BYR 13,420.0000 13,610.4029 12,250.0000 11,517.2161 Bosnia EUR/BAM 1.9558 1.9558 1.9558 1.9558 Bulgaria EUR/BGN 1.9558 1.9558 1.9558 1.9558 Croatia EUR/HRK 7.6425 7.6242 7.6153 7.5617 Czech Republic EUR/CZK 27.5000 27.5043 25.7300 25.7524 Georgia EUR/GEL 2.2234 2.3785 2.2474 2.1788 Hungary EUR/HUF 310.5700 308.7662 298.1500 296.6863 Latvia EUR/LVL - - 0.7027 0.7010 Liechtenstein EUR/CHF 1.2063 1.2180 1.2225 1.2316 Lithuania EUR/LTL 3.4528 3.4528 3.4528 3.4528 Macedonia EUR/MKD 61.6534 61.6142 61.5004 61.5975 Moldova EUR/MDL 18.4793 18.5860 0.0000 0.0000 Poland EUR/PLN 4.1776 4.1752 4.2288 4.2016 Romania EUR/RON 4.4102 4.4471 4.4620 4.4084 Serbia EUR/RSD 118.8509 116.2260 114.6044 112.6766 Turkey EUR/TRY 2.8779 2.9331 2.7510 2.4598 Ukraine EUR/UAH 16.4468 14.8865 10.8201 10.5230 51

Dividend of 1.30 per share for 2013 Stable dividend policy APPENDIX Dividend per share ( ) Dividend pay out ( mn) 8% 1.00 1.10 1.20 1.30 128.0 140.8 153.6 166.4 2010 2011 2012 2013 2010 2011 2012 2013 Dividend policy Unchanged dividend policy with a pay-out ratio of minimum 30% of Group net profit Based on solid operating performance and strong capitalisation of VIG the management proposed an increase of the dividend per share to 1.30 (+ 0.10) Dividend yield of 3.6% 1 1: based on share price as of 30 Dec 2013 52

VIG Share (I) APPENDIX Current analyst recommendation split Share price development 12M 2014 Sell Buy High EUR 40.070 Low EUR 33.800 Price as of 30 Dec. EUR 37.080 Average daily volume EUR 3.0 mn Market cap. EUR 4.7 bn Development YTD % 2.4 Hold VIG compared to ATX and MSCI Europe Insurance 115 110 105 100 95 90 85 80 75 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 VIG ATX MSCI Indexed 01 Jan-14 (Basis = 100) 53

VIG Share (II) APPENDIX General information Shareholder structure Number of common shares: 128mn ISIN: AT0000908504 Listings: Vienna since 17 Oct. 1994 Prague since 5 Feb. 2008 Trading symbols: Vienna Stock Exchange: VIG Bloomberg: VIG AV / VIG CP Reuters: VIGR.VI / VIGR.PR Rating: Standard & Poor s: A+, stable outlook Major Indices: ATX, ATX Prime, PX, EURO STOXX Insurance, STOXX Europe 600 Insurance, MSCI Insurance Europe Wiener Städtische Wechselseitiger Versicherungsverein - Vermögensverwaltung Vienna Insurance Group ~70 % Free float split by region 1 Remaining Continental Europe ~26% ~9% ~21% UK & Ireland ~20% Austria ~24% Free Float ~30 % North America 1) Split of identified shares as of June 2014 54

Contact details Investor Relations APPENDIX Financial calendar 2015 Investor Relations Team Date 27 Jan. 2015 Event Publication: Preliminary unconsolidated premiums 2014 Vienna Insurance Group Schottenring 30, 1010 Vienna E-Mail: investor.relations@vig.com www.vig.com/ir 14 April 2015 Results and Embedded Value 2014 20 May 2015 Results for the first quarter 2015 29 May 2015 Annual General Meeting 03 June 2015 Ex-dividend-day 08 June 2015 Dividend payment day 25 Aug. 2015 Results for the first half-year 2015 24 Nov. 2015 Results for the first three quarters 2015 Nina Higatzberger (Head of IR) Tel. +43 (0)50 390-21920 E-Mail: nina.higatzberger@vig.com Claudia Hartl Tel. +43 (0)50 390-21969 E-Mail: claudia.hartl@vig.com Emir Halilović Tel. +43 (0)50 390-21930 E-Mail: emir.halilovic@vig.com Daniela Lemmel-Seedorf Tel. +43 (0)50 390-21919 E-Mail: daniela.lemmel-seedorf@vig.com 55

Disclaimer IMPORTANT NOTICE These materials do not constitute or form part, or all, of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities in any jurisdiction in which such solicitation, offer or sale would be unlawful, nor shall part, or all, of these materials form the basis of, or be relied on in connection with, any contract or investment decision in relation to any securities. These materials contain forward-looking statements based on the currently held beliefs and assumptions of the management of VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe ( VIG ), which are expressed in good faith and, in their opinion, reasonable. These statements may be identified by words such as expectation or target and similar expressions, or by their context. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of VIG, or results of the insurance industry generally, to differ materially from the results, financial condition, performance or achievements express or implied by such forwardlooking statements. Given these risks, uncertainties and other factors, recipients of this document are cautioned not to place undue reliance on these forward-looking statements. VIG disclaims any obligation to update these forward-looking statements to reflect future events or developments.