August 21, 2025 2 2 Key messages EUR 845 million operating result, increasing 19% mainly from business growth in key business areas and improved experience variance EUR 576 million operating capital generation 1 on track to meet our OCG guidance of around EUR 1.2 billion for 2025 1H 2025 Financial Results Lard Friese Duncan Russell Chief Executive Officer Chief Financial Officer Continued strong commercial momentum in all key markets leading to higher new life sales and more net deposits Cash Capital at Hol ...