In accordance with the Ljubljana Stock Exchange rules and applicable legislation, Sava Re d.d., Dunajska 56, Ljubljana, makes the following announcement:

The Insurance Supervision Agency (the Agency) informed Sava Re d.d. on 11 February 2026 that it had issued to Adris Grupa d.d., Croatia Osiguranje d.d. and Erste d.o.o., as unauthorised holders of a qualifying holding (the Unauthorised Holders), an Order on the acquisition of shares No. 40100-7/2025-2 dated 28 November 2025 (the Order), by which it determined that these companies are deemed to be joint holders of a qualifying holding of 23.89% in Sava Re, for which they had not obtained the Agency’s authorisation for the acquisition of a qualifying holding.

The Agency ordered the Unauthorised Holders, inter alia, to dispose of all Sava Re shares with which they directly and indirectly reach or exceed a 20% holding in the share capital within three months of receipt of the Order. The Unauthorised Holders are likewise not entitled to exercise voting rights from the shares acquired in breach of the Insurance Act (ZZavar-1), and such voting rights are therefore attributed to other shareholders in proportion to their participation in all voting rights attached to Sava Re shares.

All three companies lodged appeals against the Order, which the Agency’s Senate partially upheld (in an immaterial part) by Decision No. 40100-7/2025-9 of 7 January 2026 (the Decision), while rejecting the appeals in the remaining, material part relating to the above-described measures imposed by the Agency.

Adris Grupa d.d., Croatia Osiguranje d.d. and Erste d.o.o. filed actions in administrative dispute and motions for interim injunctions against the Decision. On 26 February 2026 the Agency informed Sava Re that the Administrative Court of the Republic of Slovenia, by Orders I U 265/2026 of 19 February 2026 and I U 276/2026-15 of 24 February 2026, granted the motions and, until a final decision is rendered in the administrative dispute, temporarily stayed the enforcement of Point 2 of the Order, in the part relating to the obligation to dispose of Sava Re shares with which the Unauthorised Holders directly and indirectly reach or exceed a 20% holding in the share capital.

All other provisions of the Order, including Point 3, under which the Unauthorised Holders are not entitled to exercise voting rights from the shares acquired in breach of ZZavar-1 and such voting rights are therefore attributed to other shareholders in proportion to their participation in all voting rights attached to Sava Re shares, remain and have become final and enforceable.

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