CIG Pannonia Life Insurance Plc. (Registered seat: H-1033 Budapest, Flórián tér 1.; company registry number: Cg.01-10-045857; hereinafter: the “Company”) hereby notifies its shareholders and the capital market participants that today the Board of Directors made a decision about bringing an action for damages against certain former members of the Board of Directors of CIG Pannonia First Hungarian General Insurance Plc., the 100 % ownership subsidiary of the Company.

As in the view of the Company, based on the information available so far, there is a connection between early members of the Board of Directors (Barta Miklós, Busa Zoltán, dr. Kádár Gabriella) activity and the (i) damages suffered by CIG Pannonia First Hungarian General Insurance Plc. related to its Italian cross-border activity and the (ii) fine imposed by the Supervisory Authority, therefore the Board of Directors of the Company has initiated proceedings for damages of the persons concerned.

CIG Pannonia Life Insurance Plc.

Disclaimer: All information contained within this article is for information purposes only, and shall not be considered an official translation of the official communication referred to herein. This document does not include the integral wording of the official communication referred to herein, the original Hungarian language version of it remains to be the solely legally binding material in the subject matter. For further information, please do not hesitate to contact us.