Proposed dividend for Zavarovalnica Triglav shareholders

In accordance with the Ljubljana Stock Exchange Rules and the applicable legislation, ZAVAROVALNICA TRIGLAV d.d., Ljubljana is hereby publishing the following notice:

The Management Board and the Supervisory Board of Zavarovalnica Triglav will propose to this year's General Meeting of Shareholders to pay a dividend of EUR 1.75 gross per share, or EUR 39.8 million in total. The proposed dividend currently represents a dividend yield of 5% on the ZVTG share, aligning with investors' expectations for the ZVTG share and reflecting the expected average dividend yield of European insurance companies' shares for this year.

Andrej Slapar, President of the Management Board of Zavarovalnica Triglav, said: "With respect to the proposed dividend, both the Management Board and the Supervisory Board have, as always, followed the established dividend policy. This means that the dividend is attractive for shareholders and meets the requirement of sustainability, i.e. maintaining financial stability while fostering the continued growth and development of the Triglav Group. The proposed dividend payment greatly surpasses the Group's earnings, which were lower last year due to one-off negative events. This year, we expect our operations to normalise in line with our strategy. We aim to implement our dividend policy consistently, thereby meeting shareholders' expectations of being a stable, safe and profitable long-term investment."

The Group's results in 2023 were below the original plan, mainly due to the price regulation of supplemental health insurance and CAT claims. The Group's net earnings amounted to EUR 16.3 million. The Group maintained its high "A" credit rating assigned by S&P and AM Best and its financial stability. The Management Board and the Supervisory Board estimate that the appropriate level of capital adequacy will be maintained in the medium term upon the payment of the proposed dividend. Furthermore, in the dividend proposal, they took into account the assessments of the Group's current and expected business conditions, its anticipated capital needs and its ability to achieve the outlined strategic objectives also in the future.

The Supervisory Board approved the audited Annual Report of the Triglav Group and Zavarovalnica Triglav for 2023, which will be published on Friday, 29 March 2024, in accordance with the financial calendar. The Company is expected to announce the convening of the regular General Meeting of Shareholders on 26 April 2024, scheduled to take place on 4 June 2024.

This information will be published on the website of Zavarovalnica Triglav d.d. at www.triglav.eu as of 28 March 2024 and will remain available on the Company's public website for a period of at least five years.