In accordance with the Ljubljana Stock Exchange rules and the Market in Financial Instruments Act, Sava Re d.d., Dunajska 56, Ljubljana, announces the following results:

• Business volume up 10.3% YoY to €672.5m
• Pre-tax profit of €71.1m
• Return on equity (ROE) of 14.1%
• Solvency ratio within 219%–223% range

Business volume growth

The Group increased its business volume by 10.3% to EUR 672.5 million, driven primarily by growth in gross written premiums, while revenue in the pensions and asset management segment also increased.

• Non-life insurance: growth in gross written premiums of 3.1% in the EU markets and 16.0% in the non‑EU markets was achieved through the sale of new policies and higher average premiums, and partly due to the dynamics of larger policies.
• Life insurance: gross written premiums increased by 22.3% in the EU markets and by 11.7% in the non‑EU markets. Sales of both unit-linked and protection insurance policies increased.
• Reinsurance: the 18.4% growth achieved reflects the successful pursuit of new opportunities in selected international markets.
• Pensions and asset management: asset management revenue increased by 21.0%. The Group also achieved the same 21.0% growth in net inflows to funds, while assets under management were also supported by very favourable conditions in the financial markets.

Encouraging business performance despite less favourable claims experience

In the first half of the year, the Group experienced less favourable claims experience than in the corresponding period last year, when claims experience was particularly favourable. The adverse impact on the insurance result was largely offset by substantially higher income from financial investments.

• Net profit for the period: at EUR 55.6 million, net profit was only 3.6% lower than a year earlier.
• Combined ratio: less favourable claims experience led to a higher combined ratio, which nevertheless remained at a very favourable 90.7%.

Strong solvency position

The Group continues to be well capitalised in 2026, with its estimated solvency ratio increasing further to a range of 219% to 223%. The solvency ratio remains significantly above regulatory requirements and in line with the Group’s internal capital criteria.

Credit rating: stand-alone credit profile upgraded

In July 2026, the credit rating agency S&P Global Ratings affirmed the “A+” ratings of Sava Re and Zavarovalnica Sava. The outlook was stable. At the same time, the agency upgraded the companies’ stand-alone credit profile from “a” to “a+”. According to the agency, the upgrade reflects their long-term track record of outperforming international peers, underpinned by very strong operating and underwriting performance in 2025 and the first quarter of 2026.

Progress on the 2026 business plan

The Sava Insurance Group successfully delivered on its 2026 business plan during the first half of 2026. It surpassed the planned 5% growth in business volume, while net profit reached 58.6% of the lower end of the annual target range. Other key performance indicators likewise exceeded their full-year targets. The third quarter is statistically the quarter most affected by natural catastrophes, and the Group therefore remains exposed to the risk of major losses for the remainder of the year. If claims experience remains within expectations, the management board estimates that the Group will achieve its 2026 business plan by year end.

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