2024 results exceeded targets, bold strategic ambitions set for 2030

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

The Supervisory Board of Zavarovalnica Triglav approved the Audited Annual Report of the Triglav Group and its parent company for 2024. In 2024, the Triglav Group exceeded its targets and achieved earnings before tax of EUR 159.0 million, with net earnings amounting to EUR 131.4 million. By 2030, its strategic ambitions are to double its earnings and significantly increase both its business volume and assets under management. The Management Board and the Supervisory Board will propose to this year's General Meeting of Shareholders to pay a dividend of EUR 2.80 gross per share, or EUR 63.7 million in total, which currently reflects a 6% dividend yield on the ZVTG share.

In 2024, the Group's total business volume reached EUR 1.72 billion, exceeding the target of approximately EUR 1.6 billion. In addition to strong results in both insurance and asset management, operations benefited from favourable financial market conditions, relatively favourable claims development and one-off events, particularly in the Health segment. The Group's earnings before tax reached EUR 159 million, while net earnings stood at EUR 131 million. The combined ratio for the Non-Life and Health segments stood at a favourable 93.6%. The Group strengthened its leading position in the insurance market both in Slovenia and the Adria region. It was assigned a high "A" credit rating with an improved, positive medium-term outlook. The Group is well-capitalised, with detailed information on the solvency and financial position of the Triglav Group and its parent company available at www.triglav.eu.

Andrej Slapar, President of the Management Board of Zavarovalnica Triglav, said: "In 2024, we delivered very strong results across all business segments, significantly exceeding our targets while maintaining financial stability and capital strength. As of 2025, the Triglav Group is entering a new strategy period to 2030, with ambitious goals set.”

In 2025, the Group's earnings before tax are projected to be EUR 130–150 million (with net earnings of EUR 100–120 million). Its strategic ambition is to double its earnings before tax to EUR 250–300 million in 2030. The Group plans to further strengthen its business volume while ensuring geographic and product-service diversification and increasing its market share outside of Slovenia. The Group strengthens its identity as an international insurance and financial group in line with its vision. Total business volume is projected to exceed EUR 1.8 billion in 2025, with the aim to reach between EUR 2.5 billion and EUR 3 billion by 2030. The Group also plans to grow its assets under management to more than EUR 10 billion by 2030. The Group will complement its ambitious organic growth with acquisition activities, should the right opportunities arise.

The enclosed PDF version of the Audited Annual Report of the Triglav Group and its parent company for 2024 is designed in accordance with the MAR Regulation and is unofficial. Pursuant to Commission Delegated Regulation (EU) 2019/815 and paragraph one of Article 134 of the Market in Financial Instruments Act (ZTFI-1), the official version of the report is designed in the ESEF format and published in a separate announcement.

This information will be published on the website of Zavarovalnica Triglav d.d. at www.triglav.eu as of 31 March 2025 and will remain available on the Company's public website for a period of at least ten years.