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8 March 2021

Recommendation of the Insurance Supervision Agency regarding dividend payments

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 announces that, on 5 March 2021, it received a letter from the Insurance Supervision Agency stating that due to the uncertain situation regarding the spread of the Covid-19 pandemic and the associated uncertain consequences for the economy and the insurance sector, the Insurance Supervision Agency expects that, until 30 September 2021, insurance undertakings, reinsurance undertakings and pension companies  suspend dividend payments, do not enter into irrevocable commitments to pay dividends and refrain from buying own shares intended to reward shareholders.

The supervisory board will decide on the appropriation of Sava Re’s profit when considering the unaudited results for 2020, taking into account the Company’s dividend policy and the recommendations of the Insurance Supervision Agency.

A translation of the letter of the Agency is attached.

Attachment:

Recommendation of the Insurance Supervision Agency regarding dividend payments