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26 August 2020

Notice of management board intention to submit to regulator evidence of ability to pay dividends

Pursuant to the rules of the Ljubljana Stock Exchange d.d. Ljubljana and the Market in Financial Instruments Act, Sava Re d.d., Dunajska 56, 1000 Ljubljana (also: the Company), announces the following:

In connection with the recommendation of the Insurance Supervision Agency (hereinafter: the Agency) regarding the suspension of dividends published by Sava Re d.d. on 21 August 2020 (hereinafter: the Recommendation), the Company informs the public that, in line with the option and conditions set out in the Recommendation, it intends to send a notification to the Agency declaring its intention to pay out dividends in respect of 2019, supported by qualitative and quantitative evidence. As stated in the Recommendation, the Agency will examine such notification and take appropriate measures in accordance with the law. To the extent that the Agency has no reservations regarding such dividend distribution, the management board, subject to approval by the supervisory board, will call a general meeting to consider the proposed distribution of dividends so that dividends may still be paid out this year.