In accordance with the Ljubljana Stock Exchange rules and the Market in Financial Instruments Act, Sava Re d.d., Dunajska 56, Ljubljana (“Sava Re”, “Pozavarovalnica Sava d.d.” or the “Company”) makes the following announcement:

On 22 October 2026, following its regular annual rating review, the rating agency AM Best (the “Agency”) issued its ratings on Sava Re:

“AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Pozavarovalnica Sava d.d. (Sava Re) (Slovenia), the operating holding company of the Sava Insurance Group. The outlook of these Credit Ratings (ratings) is stable.

“The ratings reflect Sava Re’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM).”

Commenting on its assessment of the Company’s balance sheet, the Agency states: “Sava Re’s very strong balance sheet strength assessment is underpinned by its risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). The assessment also considers the group’s strong earnings generation, liquid investment portfolio and prudent reserving. Additionally, the company exhibits low reliance on reinsurance and sound financial flexibility, with access to both equity and debt markets.”

Assessing the Company’s operating performance, the Agency notes: “Sava Re’s strong operating performance assessment is supported by consistent operating profits over the last years driven by sound life and non-life underwriting performances, supplemented by healthy investment income. At year-end 2025, the company’s return on equity was 16.4% (2024: 14.2%) with a net/net combined ratio of 86.5% (2024: 90.6%), both calculated by AM Best. For the first half of 2026, Sava Re reported a strong net profit of EUR 55.6 million and a combined ratio of 90.7%. AM Best expects the full-year result to be in line with historical performance.” Source: AM Best press release

The full AM Best press release, together with additional information on the ratings, is available at https://news.ambest.com/PR/PressContent.aspx?altsrc=186&refnum=37952.

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.