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5 April 2024

Solvency and Financial Condition Report of Sava Re d.d. for 2023

Pursuant to the rules of the Ljubljana Stock Exchange and the Slovenian Market in Financial Instruments Act, and in accordance with the requirements of Slovenian and European Union legislation, Sava Re d.d., Dunajska 56, 1000 Ljubljana, makes the following announcement:

Sava Re publishes the Solvency and Financial Condition Report of Sava Re d.d. for 2023 (Sava Re’s SFCR), as adopted by the Sava Re management board with the consent of the Company’s supervisory board. Sava Re’s SFCR is accompanied by an independent auditor’s assurance report issued by the audit firm Deloitte Revizija d.o.o., in accordance with the Decision on the Additional Audit Review of Insurance Companies and Additional Auditor’s Report (Official Gazette of the Republic of Slovenia No 56/2016 and its amendments Nos 161/2021 and 116/2023) issued by the Insurance Supervision Agency in accordance with the Slovenian Insurance Act.

The Company uses the standard formula for its capital adequacy calculation under Solvency II. This demonstrates its capital adequacy as at 31 December 2023, with a high solvency ratio of 289%.

Sava Re’s SFCR does not include details on the solvency and financial condition of the Sava Insurance Group. These will be published on 17 May 2024, in line with the statutory deadline and Sava Re’s financial calendar.

Attachment:

Sava Re SFCR 2023