In what sense is 'one in 100 year' equivalent to '0.2% every year'? With the latter you'd expect 0.2 of them in 100 years? (Totally agree the phrasing is misle

In what sense is 'one in 100 year' equivalent to '0.2% every year'? With the latter you'd expect 0.2 of them in 100 years? (Totally agree the phrasing is misleading to the layman though, which is really the only reason for it to exist anyway, in an attempt to be more relatable.)