Pursuant to the rules of the Ljubljana Stock Exchange d.d. and applicable legislation, Sava Re d.d., Dunajska 56, Ljubljana makes the following announcement:

In its meeting yesterday, the supervisory board of Sava Re d.d. approved the Audited Annual Report of the Sava Insurance Group and Sava Re d.d. for 2021 attached hereto. The audited financial statements do not differ from the unaudited financial statements already published.

The Sava Insurance Group continued its outstanding performance in 2021, achieving all the financial targets it set itself for the financial year. Operating revenue grew by 7.6% to EUR 732.7 million. The record net profit of EUR 76.2 million was driven by better performance – revenue growth, a favourable claims experience, cost efficiency and the investment return – of virtually all operating segments. The Group achieved a return on equity of 15.8%, exceeding its target by 37.4%.

In addition, the Group successfully realised its development strategy of customer-centricity, IT overhaul and digital transformation in 2021. Adapting services, making them faster and more easily accessible, strengthening customer relationships and elevating the customer experience have been and remain the Group’s guiding principles.

The Group also devotes special attention to delivering on its sustainability strategy. Sustainability factors are being incorporated into customer relationship management, product development, insurance and reinsurance underwriting, and the asset management and procurement policies. The Sava Insurance Group is thus growing into an insurance group with a keen sense of responsibility for society at large.

A presentation of the audited business results with highlights of the previous year is attached.

The audited annual report of the Sava Insurance Group and Sava Re d.d. for 2021 in the official ESEF format prepared in accordance with Commission Delegated Regulation (EU) 2019/815 and Article 134(1) of the Slovenian Financial Instruments Market Act (ZTFI-1) has been published in a separate announcement.

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