ZAVAROVALNICA TRIGLAV, d.d.

PRESS CONFERENCELISTING OF ZAVAROVALNICA TRIGLAV ON THE LJUBLJANA STOCK EXCHANGE PRIME MARKETLjubljana, 2 December 2011

ZAVAROVALNICA TRIGLAV, d.d.

The Group’s key business pillars are :• Insurance• Asset management• ‘Banking’

The Triglav group:• Zavarovalnica Triglav d.d. as controlling company, 31 subsidiaries and 12 associated companies• Present in eight markets• Key market: SE Europe

Key figures for H1 2011 :• Gross written premium: EUR 549.9 million (-1%)• Net profit: EUR 34.1 million (+90%)• Combined ratio: 89.0% (-9 pp)• Equity: EUR 514.0 million (+3%).

Key figures of Zavarovalnica Triglav for 1-9 2011:• Gross written premium: EUR 548.9 million (- 3%)• Net profit: EUR 35.1 million (+9.6%)• Combined ratio: 83.3% (-6.8 pp)

TRIGLAV GROUP PRESENTATION“A” credit rating by S&P for the fourth consecutive year

2

ZAVAROVALNICA TRIGLAV, d.d. 3

LISTING OF ZAVAROVALNICA TRIGLAV ON LJSE PRIME MARKET

Characteristics of Prime market

The most prestigious segment of the stock market

Intended for larger established companies with a

reputation for transparent operations

Enables increased profile towards foreign investors

Increased opportunities for raising further capital

Strengthening of investor relations and

communication and further increase in transparency

of operations

ZAVAROVALNICA TRIGLAV, d.d. 4

Reasons for admission to Prime market

Increased share liquidity

Additional commitment to investors to comply with

higher reporting standards and transparency of

operations decreases risk of investment in ZVTG

Increased visibility among international investors

enables access to a broader investor network

Increased opportunities for raising further capital

Further use of LJSE roadshow services and promotion

among international investors and support in

disclosure and corporate governance in compliance

with the highest reporting standards

LISTING OF ZAVAROVALNICA TRIGLAV ON LJSE PRIME MARKET

ZAVAROVALNICA TRIGLAV, d.d. 5

THE ZAVAROVALNICA TRIGLAV SHARE

10

11

12

13

14

15

16

17

18

19de

c. 2

010

jan.

201

1

feb.

201

1

mar

. 201

1

apr.

2011

maj

. 201

1

jun.

201

1

jul.

2011

avg.

201

1

sep.

201

1

ZVTG SBITOP

ZAVAROVALNICA TRIGLAV, d.d. 6

ZAVAROVALNICA TRIGLAV SHAREHOLDERS

Top ten shareholders of Zavarovalnica Triglav as at 30 September 2011

Total domestic foreign Legal Natural

Number of shareholders as at 30 September 2011 29.531 29.053 478 709 28.822

share 100,0% 98,4% 1,6% 2,4% 97,6%

ZAVAROVALNICA TRIGLAV, d.d. 7

PERFORMANCE OF ZAVAROVALNICA TRIGLAV 1-9 2011Profit before tax Net profit

Net profit/loss by year

+28.8% +9.6%

ZAVAROVALNICA TRIGLAV, d.d. 8

PERFORMANCE OF ZAVAROVALNICA TRIGLAV 1-9 2011Gross written premium for insurance and co-insuranceTotal GPWNon life GPW

Life GPW

Decrease in GPW due to: Strategic focus on profitability in

non-life insurance Lower demand for life insurance

products and aging of the life insurance portfolio

Stricter market conditions

-3.3%

-2.6%

-3.1%

ZAVAROVALNICA TRIGLAV, d.d. 9

PERFORMANCE OF ZAVAROVALNICA TRIGLAV 1-9 2011Gross claims paid

Total claimsNon life claims

Life claims

More emphasis put on risk selection and underwriting

Effective reinsurance protection adapted to new business conditions (higher frequency and intensity of CAT events in recent years, financial crises)

claims settled increased due to maturities and surrenders of life-insurance policies

-8.3%

+44.7%

+4.1%

ZAVAROVALNICA TRIGLAV, d.d. 10

PERFORMANCE OF ZAVAROVALNICA TRIGLAV 1-9 2011Gross operating costs Total operating costsNon life operating costs

Life operating costs

Acceptance of economising measures

Lower cost of labour Total costs still influenced by

investments in new insurance software

-3.8%

+1.9%

-2.6%

ZAVAROVALNICA TRIGLAV, d.d. 11

PERFORMANCE OF ZAVAROVALNICA TRIGLAV 1-9 2011Combined ratio

Combined ratio

Expense ratio

Claims ratio

Combined ratio - by year

Combined ratio below 100% - premium earned is sufficient to cover claims paid and costs, which means the company operates at a profit.Claims ratio below 100% - premium earned is sufficient to cover claims. Claims payable/premiumsExpense ratio – expense/net premium earned.

-5.7 p.p.

-1.1 p.p.

-6.8 p.p.

ZAVAROVALNICA TRIGLAV, d.d. 12

PERFORMANCE OF ZAVAROVALNICA TRIGLAV 1-9 2011 Capital adequacy and insurance technical provisionsInsurance technical provisionsCapital adequacy

ZAVAROVALNICA TRIGLAV, d.d.

Triglav Group values

13

Professionalism Safety

Corporate social responsibility

Triglav value system

ZAVAROVALNICA TRIGLAV, d.d. 14

ZAVAROVALNICA TRIGLAV – CORPORATE SOCIAL RESPONSIBILITY Key value, incorporated in every business decision

Maintenance of long-term business partnerships, ensuring mutual progress

Active presence and activity in environment

Identification of environment’s needs and response to these

Efforts to mitigate adverse effects on the environment

ZAVAROVALNICA TRIGLAV, d.d. 15

CSR PROJECTS

Lets clean the mountains

Waste separation and taking note of ecological principle

Personal glass water bottles– good for employees and environment

Taking children to World ski jumping final in Planica

Prommoting of cycling

Employee training

Watch puppy Looks

after children

Development of corporate volunteering

Otroci Triglava – brezskrbni v igri, povezani z naravo

15

ZAVAROVALNICA TRIGLAV, d.d.16

TRIGLAV’S CHILDREN Safe at play, connected to nature

• Objective of project: Upgrading childrens’ playgrounds around Slovenia

• Playground selection: public tender for municipalities and local communities (published in Slovene newspapers)

• Partners: Business partners of Zavarovalnica Triglav, municipalities, institutions

16

ZAVAROVALNICA TRIGLAV, d.d.17

TRIGLAV’S CHILDREN Public tender

• Tender announcement: 2 December 2011 (www.triglav.eu)

• Invited to apply: municipalities and local communities

• Playgrounds: up to 5 playgrounds to be upgraded

• Application deadline: 15 February 2012

• Completion of project: June 2012

17

ZAVAROVALNICA TRIGLAV, d.d.18

TRIGLAV’S CHILDREN Inclusion of all stakeholders

• Local communities: Problem identification, initiators of change

• Business partners: Professional and financial support

• Zavarovalnica Triglav employees: Inclusion through corporate volunteering

• Shareholders and investors: CSR is competitive advantage of Triglav

• Children: Better future for everyone

18

ZAVAROVALNICA TRIGLAV, d.d.

Building a safer future

19