As set out in the Annual Review 2026, NorthStandard has maintained positive momentum in delivering its strategy to grow and diversify, innovate and lead, and invest in the future.Total premium income for the 2025/26 insurance year increased to US$938m, representing a 5.8% rise on the previous year’s US$886m and exceeding the forecast issued in November 2025 by US$8m. Investment performance remained robust, with a return of 9.5% in 2025, contributing to an increase in free reserves of US$123m to US$923m. This further reinforces capital strength, with coverage maintained above Standard & Poor’s ‘AAA’ level.Underwriting performance also showed improvement, driven by a return to more typical level of Pool claims following an exceptional 2024, with a combined ratio of 105.5%, compared with 113.8% in the prior year.The Annual Review is available to view and download from the NorthStandard website here. The combined financial statements, together with the Directors' Report and Financial Statements, will be published in due course.The Directors also reviewed the Release Calls for the P&I, FD&D/Defence, War Risks, Coastal & Inland and Strike & Delay Classes, which are detailed in the Appendix.APPENDIX: CLASS UPDATESNorthStandard Group Boards have agreed to:Close the 2023/24 policy year without an additional call above ETP (for the P&I, Defence, Coastal & Inland and War Risks Classes).Set the 2024/25 release call at 0%, the 2025/26 release call at 5% and maintaining the 2026/27 release call at 12.5% (for the P&I and Defence Classes).Maintain release calls for all open years for the Coastal & Inland and War Risks Classes at 0%.Close the Strike & Delay Class 2024/25 policy year without an additional call above ETP.Set Strike & Delay Class release calls at 5% for 2025/26 and 10% for 2026/27.Summary Release Calls for the P&I, FD&D/Defence, War Risks, Coastal & Inland and Strike & Delay ClassesPolicy YearP&IFD&D/DefenceWar RisksCoastal & InlandStrike & Delay2026/2712.5%12.5%0%0%10