Pursuant to the Rules of the Ljubljana Stock Exchange, Ljubljana, and relevant legislation, Pozavarovalnica Sava, d.d., Ljubljana (Sava Reinsurance Company) hereby announces the following announcement:

On 16 May 2016 Sava Reinsurance Company received a letter from its shareholder Slovenski državni holding d.d. (SDH), requesting explanations regarding the tender to award the contract for the provision of external auditing services, regarding the progress made on the Solvency II project, regarding the SII audit and regarding the determination (by the Company and by tenderers) of auditor hours needed within the Solvency II project.

The item 'Proposal for appointment of auditor for the financial years 2016-2018' to which the questions relate is on the agenda of the 31st general meeting of shareholders to be held on Tuesday, 24 May 2016. The proposer of the resolution to this agenda item is the supervisory board.

In order to provide SDH with answers to their questions prior to the forthcoming 31st general meeting and to comply with the principle of equal information for all shareholders, Sava Reinsurance Company hereby provides the explanations of the supervisory board regarding the selection procedure of the external auditor on the website of the Ljubljana Stock Exchange, via the SEOnet information system (http://seonet.ljse.si) and on the Company's official (http://www.sava-re.si).

The explanations of the supervisory board to the questions of SDH are provided in the attached document.

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

Pozavarovalnica Sava d.d. published this content on 18 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 18 May 2016 09:47:02 UTC.

Original documenthttp://www.sava-re.si/en/media-centre/news/1404/explanations-to-the-questions-of-the-shareholder-slovenski-drzavni-holding-d-d-regarding-the-selection-of-the-external-auditor-for-the-financial-years-2016-2018/

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