Pursuant to the Rules of the Ljubljana Stock Exchange, d.d., Ljubljana and relevant legislation, Pozavarovalnica Sava, d.d., Ljubljana ("Sava Reinsurance Company" or "Company") hereby announces the following:

On the basis of the Slovenian Companies Act (ZGD), the 28th general meeting of shareholders, which took place on 23 April 2014, granted the management board of Sava Reinsurance Company authorization to acquire treasury shares. The authorization is for acquiring up to a total of 1,721,966 shares, which represents 10 % of the Company's issued shares (including treasury shares). As part of the Company's Share Repurchase Programme published on 18 November 2014, the Company carried out a share repurchase procedure on the OTC market between 14 and 18 April 2016. 

The Company informs the public that in this way it purchased 845,599 treasury shares at the Determined Price of € 15.00 per share for a total amount of € 12,683,985.00.

The purchase of treasury shares on behalf of Pozavarovalnica Sava d.d. was made in cooperation with Nova Ljubljanska banka d.d., Ljubljana. 

The total number of treasury shares prior to this purchase was 876,367, which represents 5.09 % of the Company's issued shares. The total number of treasury shares after the purchase is 1,721,966, which represents 10 % less one share of the Company's issued shares. 

No purchases of treasury shares in the regulated market have been made since the Company's last announcement. 

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