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

On 24 August 2016, Sava Reinsurance Company received, from its notary, an order of the Ljubljana District Court on the entry of changes to the data in the register of companies, order no. Srg 2016/34969 dated 24 August 2016.

Pursuant to this order, an entry is made to the register of companies to the effect that as of 23 August 2016, Zvonko Ivanušič is stricken off as chairman of the management board of Sava Reinsurance Company d.d. As of the same day, Jošt Dolničar is entered into the register of companies as new chairman of the management board of Sava Reinsurance Company d.d.

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.