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Triglav Group Xxxx Presentation Triglav Group Investor Presentation 3 April 2020 Current Coronavirus situation Triglav is the highest mountain in Slovenia and the highest peak of the Julian Alps (2,864 meters/9,396 ft). Current Coronavirus situation In coronavirus situation Triglav activated its business continuity plan¹: Protection of employees and clients: All appropriate measures have been taken to protect our employees (e.g. remote work), clients and ensure business continuation. Triglav is continuously adjusting these measures as the situation changes. Client Services Continuity: Insurance and AM services are adapted to the situation on individual #stayhome markets, e.g. in Slovenia exclusively through electronic and telecommunication channels (no physical Zavarovalnica contacts with clients in sales, claim settlement and other client solutions). Triglav is still available to you Efficient risk management: In the current conditions, Triglav comprehensively manages increased [email protected] 080 555 555 risks associated with the current situation. Due to the many unknowns, it is not yet possible to fully assess the effects of the pandemic. Nevertheless, Triglav assesses that its insurance and investment portfolios are sufficiently resilient and that the capital position is appropriate to cope with the increased risks arising from the COVID-19 pandemic situation and the financial markets. Due to uncertainty and increased volatility in the environment, it is currently not possible to reliably assess the impact of these conditions on the Group’s business performance. This impact will depend on the duration of the crises, among other things. Our regular information will be published in accordance with our financial calendar (page 13), in case of a material change in the circumstances or performance estimates of Triglav Group in relation to forecasts, we will transparently inform the public. ¹Public annauncement as at 16 March 2020 Triglav Investor presentation / www.triglav.eu 3 Outlook 2020 (Published on 20 Dec 2020) * Focus on long term profitability and safety of operations. Profit before tax (in €M) ROE 102.5 13.8% 13.4% 89.7 100.4 95.1 97.5 100.9 95-105 12.0% 12.8% 11.4% 83.6 84.4 9.6% 9.3% 10.8% 10.9% >10% 58.0 2011 2012 2013 2014 2015 2016 2017 2018 2019 Plan 2011 2012 2013 2014 2015 2016 2017 2018 2019 Plan 2020 2020 Gross written premium (in €M) Combined ratio NL Around Below 1,200 90.1% 89.6% 91.0% 96.3% 92.8% 92.9% 93.1% 91.8% 91.5% 95% 1,068 1,184 989 936 901 888 919 936 1,000 2011 2012 2013 2014 2015 2016 2017 2018 2019 Plan 2011 2012 2013 2014 2015 2016 2017 2018 2019 Plan 2020 2020 * Due to uncertainty and increased volatility in the environment, it is currently not possible to reliably assess the impact of these conditions on the Group’s business performance. This impact will depend on the duration of the crises, among other things. Triglav Investor presentation / www.triglav.eu 4 Distribution of 2019 Accumulated Profit¹ On 31 March 2020, Insurance Supervision Agency called upon insurance companies in Slovenia to suspend payout of dividends from accumulated profit until 1 October 2020 and not to undertake any irrevocable commitment to pay out dividends. In respect thereof, MB and SB of Triglav will propose to regular AGM that accumulated profit of EUR 60,543,475 as at 31 Dec 2019, remain undistributed. Publication of Convocation Notice of AGM is planed on 23 April 2020. Triglav is not changing its dividend policy (see below), but it understands the call of regulator, which is responsible for financial stability of Slovene insurance sector, especially in a situation of great uncertainty caused by pandemic. The call takes into account recommendations and actions of EU regulators and authorities (EIOPA and IAIS) to ensure solvency and capital adequacy of insurance companies in EU. Dividend policy of Triglav Gross dividend paid per share (in €) and Pay-out ratio Minimum dividend pay-out is set to 50% of consolidated net profit for the previous year. Triglav will strive not to reduce its dividend payment 33% 34% 63% 56% 67% 64% 69% 82% 70% below the level of the previous year. Dividend policy subordinated to achieving the medium-term sustainable target capital adequacy of 3 Triglav Group. Three objectives are followed in a balanced manner: 2.5 2.5 2.5 2.5 2.5 2,5 • to ensure prudent capital management of Triglav Group and its 2.0 2 1.7 financial stability, 1,5 1 0.7 • to reinvest net profit in the implementation of the strategy of 0.4 0,5 growth and development of Triglav Group and 0 • to pay out attractive dividends to the shareholders. 2010 2011 2012 2013 2014 2015 2016 2017 2018 Dividend pay-out (% consolidated net profit) ¹Public annauncement as at 3 April 2020 Triglav Investor presentation / www.triglav.eu 5 Triglav Story Profitability Client-centric approach New ways of doing business 2019-2022 2010 Profitability Fast growth in the markets Selective expansion outside Slovenia 2008 Listing on the Ljubljana SE 2000 Leading position in Slovenia, expansion started Transformation into a public limited company Expansion of business Established in Austro-Hungarian Empire 1990 as the first Slovenian insurance company founded with domestic capital 1900 6 Triglav Group GROUP CORE BUSINESS SHAREHOLDERS 38 companies INSURANCE ASSET MANAGEMENT ZPIZ and SDH with 35% and 28% respectively predominant Parent company founded in 1900 GWP (2019): € 1,184M Insurance portfolios & own funds shareholders Market leader in Adria region¹ and (2019): 31% free float Slovenia, internationally present ▪ Non-life AUM € 2,825M through reinsurance ▪ Life 17% international share Investment funds & discretionary ▪ Pensions ≈ 13,000 shareholders ˃ 5.200 employees mandate assets (2019): ▪ Health AUM € 1,082M Balance Sheet (2019): € 3.9Bn ▪ Reinsurance Rating A/Stable outlook GWP DIVERSIFICATION (2019) HIGH QUALITY INVESTMENT PORTFOLIO (2019) BY PRODUCTS BY MARKETS 3% 0% 1% 88% of bonds with rating of at 3% Non-life Slovenia 7% 6% least BBB (+6 pp y-o-y), mostly 15% Life&Pensions Other markets invested in the euro area, 18% Health Int. reinsurance which ensures adequate 20% liquidity for Triglav Group. 65% 76% 86% Debt instruments Equities Investment property Deposits with banks Loans given Other ¹ Adria region: Slovenia, Croatia, Serbia, Bosnia and Herzegovina, Montenegro, North Macedonia Triglav Investor presentation / www.triglav.eu 7 Two Tier Governance System, Experienced Management Team General Meeting of Shareholders Supervisory Board (9) Management Board (6) Andrej Slapar Uroš Ivanc Tadej Čoroli Barbara Smolnikar David Benedek Marica Makoter President Member Member Member Member Member and Employee Representative CEO CFO Non-life, Sales, Life & Health Triglav Group Marketing subsidiaries, HRM, Operations, IT, Investments Fraud prevention The first start/end of 2013 – 2024 2014 – 2024 2014 – 2024 2017 – 2022 2019 – 2024 2011 – 2021 term of office: Employed at Triglav 1997 2001 2001 2017 2014 2001 since: Triglav Investor presentation / www.triglav.eu 8 International Shareholders with 17% stake Two state-owned funds predominant shareholders. Around 13.000 shareholders. International shareholders from 35 countries with 17% stake (2008: 4%). or 35% of the free float (i.e. the shares held by the shareholders with less than a 5% ownership stake). Stable Structure of Top 10 (as at 31 Dec 2019) 30.9% shares are Free floating Free float shareholder structure by the country of origin of shareholder/subscriber in the share register ( as at 31 Dec 2019): 1% 1% 1% ZPIZ, Ljubljana 34.5% 3% 2% Slovenia SDH d.d., Ljubljana 28.1% Austria 4% Addiko Bank, d.d., Pension fund 1 - fiduciary account, Croatia 6.6% 4% Luxembourg Croatia Unicredit Bank Austria - fiduciary account, Austria 2.7% 5% Citibank - fiduciary account, Great Britain 1.3% Great Britain 5% Hrvatska poštanska banka - fiduciary account, Croatia 1.0% USA East Capital - East Capital Balkans, Luxembourg 0.8% 10% Kuwait 65% France Kuwait Investment Authority, Kuwait 0.8% Finland Pozavarovalnica Sava Re d.d., Ljubljana 0.7% Ireland The Bank of New York Mellon - fiduciary account, USA 0.6% Other 24 countries active investor relations policy Transparent operations, open contact with investors. In 2019, Triglav participated in 11 events held for institutional investors in Europe and the USA, in addition to meetings, conference calls and other contacts. IR calendar available on our website at www.triglav.eu. Triglav Investor presentation / www.triglav.eu 9 Triglav Group Strategy Our mission Our vision Strategic guidelines BUILDING A SAFER FUTURE By adopting a client-centric approach, we ▪ Long-term stable and profitable operations and dynamically develop new ways of doing greater value of Triglav Group business as the foundation of the Group’s ▪ Client focus and development of related services responsible long-term development, while at ▪ Developing even more cooperative and agile the same time operating profitably and safely organisation and culture 2020 2021 2018 2019 2022 Working Towards Rating A/Stable Rating A/Stable Rating A Our Vision ROE 10.8 % ROE 10.9 % ROE ˃ 10 % CoR NL 91.8 % CoR NL 91.5 % Average target CoR NL around 95 % GWP up by 7 % GWP up by 11 %; AUM (mutual Increased volume of business funds) up by 68% Market share in Adria region 20% Market share in Adria region 20% Market leader % GWP outside SLO 17.9% (+0.2 p.p.) % GWP outside SLO 18.1% Increased % GWP outside SLO Triglav Investor presentation / www.triglav.eu 10 Corporate Responsability – our E, S & G In 2019 carbon footprint and ENVIRONMENT Carbon reduction. Low-carbon work-related transport electricity consumption down by Care for natural Introducing paperless business 6% and 3% y-o-y respectively¹. environment In 2019 mixed waste Activities for cleaner environment down by 36% y-o-y ¹. 11% of vehicle fleet¹ are Promotion of extensive farming electrical vehicles.
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