Pursuant to the rules of the Ljubljana Stock Exchange d.d. and applicable legislation, Sava Re d.d., Ljubljana, makes the following announcement:

Sava Re has received a letter from the Insurance Supervision Agency announcing that the Agency follows recommendations to harmonise the treatments of supervised entities in the European Union; therefore, the Agency amends its recommendation regarding dividend payments dated 8 March 2021 so that:

• it expects companies that are the parent of a group of companies to consider the financial position of both the company as well as that of the group of companies they are the parent of when deciding on the payment of dividends before 30 September 2021, and
• the Insurance Supervision Agency will take into account the specificities of the business model when examining the profitability criterion of the supervised entity.

A translation of the letter of the Agency is attached.

This announcement will also be available on the Company’s website, at www.sava-re.si, for at least five years from the date of this announcement.