QBE Insurance Group Ltd

###### ESG Risk Committee

Reviews ESG business policies and strategies, including climate-related policy positions,
and provides recommendations to the Executive Risk Committee for approval

###### Climate Change Working Group

Oversees the identification and management of climate-related risks and opportunities, reporting and working group activities

###### Group Executive Committee

###### Group Chief Risk Officer

Accountable for embedding
climate‑related risk into the
Group's risk management
framework

###### Group Chief Financial Officer

Accountable for reviewing
climate‑related disclosures
including TCFD

###### Group Chief Underwriting Officer

Accountable for embedding
climate‑related risks and
opportunities within
underwriting decisions

###### Group Executive, Corporate Affairs and Sustainability

Accountable for embedding
climate strategy into company
strategy, brand, narrative
and engagement

###### Executive Risk Committee

Accountable for overseeing the integration of ESG risk into business processes

###### GEC Environmental and Social sub-committee

###### Group Head of Underwriting Governance, Sustainability and Standards

Integration and
consideration of climaterelated impacts across our
underwriting portfolio.

###### Group Chief Investment Officer

Integration of
climate‑related
risks and opportunities
into investment strategy

###### Group Head of Sustainability

Alignment of climate‑related
strategy with overall
sustainability strategy

External reporting and
stakeholder engagement

###### Head of Environment

Implementation of the strategy
to minimise the climate‑related
impact of our business
operations

###### ESG Risk Committee

Reviews ESG business policies and strategies, including climate-related policy positions,
and provides recommendations to the Executive Risk Committee for approval

###### Climate Change Working Group

Oversees the identification and management of climate-related risks and opportunities, reporting and working group activities

###### Group Executive Committee

###### Group Chief Risk Officer

Accountable for embedding
climate‑related risk into the
Group's risk management
framework

###### Group Chief Financial Officer

Accountable for reviewing
climate‑related disclosures
including TCFD

###### Group Chief Underwriting Officer

Accountable for embedding
climate‑related risks and
opportunities within
underwriting decisions

###### Group Executive, Corporate Affairs and Sustainability

Accountable for embedding
climate strategy into company
strategy, brand, narrative
and engagement

###### Executive Risk Committee

Accountable for overseeing the integration of ESG risk into business processes

###### GEC Environmental and Social sub-committee

###### Group Head of Underwriting Governance, Sustainability and Standards

Integration and
consideration of climaterelated impacts across our
underwriting portfolio.

###### Group Chief Investment Officer

Integration of
climate‑related
risks and opportunities
into investment strategy

###### Group Head of Sustainability

Alignment of climate‑related
strategy with overall
sustainability strategy

External reporting and
stakeholder engagement

###### Head of Environment

Implementation of the strategy
to minimise the climate‑related
impact of our business
operations

QBE seeks to influence through advocacy, either directly or through industry alliances. In 2024, QBE continued our active involvement in the ICA's Climate & Resilience Committee and Net Zero Working Group, advocating for more government action on topics including improved land use planning, building codes and investment in community resilience to reduce risk. QBE also contributed to ICA's updated Climate Change Roadmap: Towards a Net-Zero and Resilient Future.

QBE also seeks to influence through advocacy, either directly or through industry alliances. Our actions have a focus on influencing the reduction of real-economy emissions and other material topics identified through our materiality assessment. QBE has played key roles on the ICA's Climate Change Action Committee (CCAC) that is focused on greater advocacy for more resilience to extreme weather, and for emissions reduction by the insurance industry, to help address insurance affordability and accessibility. The climate resilience series of technical reports developed by CCAC have underpinned successful advocacy for resilient investment from the Australian government in 2022. In advance of COP27, the release of the industry net-zero Roadmap was the culmination of broad engagement across ICA membership to increase literacy on the net-zero transition and implications for the Australian insurance sector. The development of this Roadmap informed the development of policy recommendations for the Australian Government to accelerate climate action alongside the Roadmap. [...] Since 2018, our Group Underwriting Standards (GUS) have incorporated our responsible underwriting principles, reflecting our position on environmental and social risks. The Group Underwriting Committee (GUC), chaired by our Group Chief Underwriting Officer (GCUO), with membership from across the enterprise, oversees adherence to the GUS and corporate strategy. This role has oversight of our material sustainability topics through a position on the Environmental and Social Group Executive Committee sub-committee, Executive Risk Committee and ESG Risk Committee. The E&S Risk Framework outlines our approach to addressing key environmental and social risks across our underwriting and investment activities. Underwriting training was delivered throughout 2022 to further embed ESG risk management, and drive consistent application of the E&S Risk Framework's sensitive sector positions. This training supports operational adherence to our commitments and policies, including the GUS, Group Environmental Policy, Group Human Rights Policy, and E&S Risk Framework. Our GCUO and Group Chief Risk Officer monitor our referral process, and preventative and detective controls. To date, there have been no known cases of non-adherence to the E&S Risk Framework. If a case is detected, QBE has effective processes to rectify this by working with impacted parties.

We are taking an outside‑in approach — by putting customers' needs first — as we progress our 'Net zero in Underwriting' strategy. This work is being led by our Group Underwriting Committee, with regular updates to the Environmental and Social Group Executive Committee sub‑committee, under the guidance of our Group Chief Underwriting Officer. [...] Responsibilities for whistleblowing are outlined at the Board level and cascaded down to relevant functions, teams, and individuals. Group Compliance provides regular updates, including a dashboard, to a committee of the Group Board. Matters are escalated as needed, including to our Group Whistleblowing Committee. This is supported by local and divisional reporting and processes.

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]Our climate change strategy and policy-related engagement is led by our Group Corporate Affairs and Sustainability function.

Our Sustainability Governance Framework (on page 9 of our FY2021 Sustainability Report) shows the overarching governance in place that ensures engagement activities are consistent with our overall climate change strategy. The Framework therefore has teams in place to integrate sustainability across our business, and accountable individuals to drive strategy in our required focus areas.

For example, regarding climate change-related public affairs activities including related underwriting, risk, investment, operational and policy issues, QBE undertakes an extensive validation process based on collaboration between different functions. As appropriate, this may be presented to our ESG Risk Committee or appropriate sub-committee, and as appropriate escalated to the Environmental & Social Group Executive Committee Sub-Committee (E&S GEC SC) meetings which is Chaired by the Group Executive of Corporate Affairs and Sustainability, who has carriage of steering our sustainability ambitions. The E&S GEC SC members include the Group Chief Risk Officer, Group Chief Underwriting Officer, Group Chief Financial Officer, Group Chief Technology and Operations Officer who provide steer in relation to our strategic direction to ensure alignment to our overall climate strategy and Environmental & Social Risk Framework, as well as approval of different public engagements based on the analysis and recommendations of the management teams.

We further note that through our memberships to the NZIA and AOA, we partake in the industry working groups that aligns the NZIA and QBE's engagement strategy. For the NZIA, we partake in the Anti-Trust Working Group that directly engages with select regulators, as appropriate to influence positively on climate change matters aligned to the scope of the NZIA objectives

Describe the process(es) your organization has in place to ensure that your external engagement activities are consistent with your climate commitments and/or climate transition plan?[…]The majority of direct external engagement activities are co-ordinated through the Group Corporate Affairs and Sustainability function. Through our Government Relations & Industry Affairs team, we engage with policy makers on proposed policy developments within the Australian market, that are consistent with our climate commitments.