CIG PANNONIA LIFE INSURANCE PLC. (registered office: H-1097 Budapest, Könyves Kálmán körút 11.B, company registration nr.: 01 10 045857, hereinafter referred to as Company) hereby informs the Esteemed Investors that the Company as well as CIG Pannonia First Hungarian General Insurance Private Limited Company (registered office: H-1097 Budapest, Könyves Kálmán körút 11.B, company registration nr.: 01 10 046150) as a 100% subsidiary (collectively: CIG Pannonia Insurance), in accordance with the agreement concluded with BNP Paribas Cardif LIFE Insurance cPlc. (registered office: H-1062 Budapest, Teréz körút 55-57., company registration nr.: 01-10-044718) and BNP Paribas Cardif Insurance cPlc. (registered office: H-1062 Budapest, Teréz körút 55-57., company registration nr.: 01-10-044717) (collectively: BNP Paribas Cardif Insurance), published on October 18, 2021, seek to acquire the insurance contract portfolio of BNP Paribas Cardif Insurance established with Budapest Bank cPlc.

The Company emphasizes that, as part of the agreement, the acquisition of the portfolio is subject to the authorization of the Central Bank of Hungary, which acquisition of the insurance contract portfolio does not justify the investigation of the merger in accordance with the official certificate issued by the Economic Competition Office on July 6, 2022, there is no competition law obstacle to the execution of the transaction.

The Board of Directors of the Company reiterates that the content of the transactional elements arising from the Agreement fits well into the framework of the previously published Growth Strategy, which includes development directions and goals, and is to be evaluated as its defining element and it contributes to the goal of CIG Pannonia Insurance becoming a reliable, dominant-sized composite insurer with a stable background with a portfolio of both life insurance and non-life insurance products in the coming period.