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 hereby announces the following:

On 8 August 2017, the General Meeting of Shareholders of Zavarovalnica Sava, d.d. was called to be held on 8 September 2017, in which the shareholders will be proposed a resolution to transfer all the shares of minority shareholders to the majority shareholder Sava Re (main shareholder).

On the publication day of the Zavarovalnica Sava General Meeting notice, Sava Re held 15,332,411 ordinary, registered no-par-value shares of Zavarovalnica Sava, accounting for 99.74 per cent of the Company's share capital.

The cash compensation for the transfer of the remaining registered no-par-value shares designated ZVMG and not owned by the main shareholder amounts to € 23.94 per share. According to the valuation carried out by the company KPMG poslovno svetovanje, d.o.o., Slovenia for the purpose of determining the amount of the cash compensation for the squeeze out of minority shareholders, the fair value of 100 % of Zavarovalnica Sava is € 368 million. An independent auditor's report on the appropriateness of the amount of cash compensation has been issued by PricewaterhouseCoopers d.o.o., Slovenia.

Upon entering the resolution on the share transfer into the register of companies, Sava Re will become sole owner of Zavarovalnica Sava. 

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.