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4 April 2025

Sava Re proposes 50 cent higher dividend than last year

Pursuant to the rules of the Ljubljana Stock Exchange d.d., Ljubljana, and the Market in Financial Instruments Act, Sava Re d.d., Dunajska 56, Ljubljana (Sava Re or the Company) makes the following announcement:

In its session of 3 April 2025, the supervisory board of Sava Re approved the audited Annual Report of the Sava Insurance Group and Sava Re d.d. for 2024.

The supervisory and management boards have prepared a proposal to the annual general meeting to pay a gross dividend of EUR 2.25 per share to the Company’s shareholders. This corresponds to a total distribution of EUR 34,869,816.00, or 40% of the Group’s consolidated net profit for 2024.

The Sava Insurance Group achieved strong results in 2024, surpassing its financial targets and generating a net profit of EUR 87,846,542. Accordingly, the supervisory and management boards have drafted a dividend resolution for the annual general meeting that reflects this result. In doing so, the Company also considered other important factors, including the estimated surplus of eligible own funds over the solvency capital requirement under Solvency II, the own risk and solvency assessment of the Group, the capital models of the rating agencies S&P Global Ratings and AM Best, the approved annual business plan and the strategic plan of the Group and the Company, new development projects to engage additional capital for continued growth, and other relevant factors that might affect the financial position of the Company. The increase in the dividend of 28.6% (40% of the Group’s net profit for 2024) is supported by strong performance in 2024, which was ahead of plan. Like this year, the Company will continue striving to maintain its dividend policy of distributing between 35% and 45% of consolidated net profit.

Based on the proposal of the Sava Re management board, the supervisory board approved the proposed resolution on the appropriation of the distributable profit of EUR 56,542,806.98 as at 31 December 2024, as presented in the 2024 annual report: EUR 34,869,816.00 to be used for dividends, and the remaining part of the distributable profit of EUR 21,672,990.98 to be left unallocated as retained earnings.