The Company and EMABIT prepare the documents that are deemed necessary to the transformation – specifically the draft term of transformation, the merger agreement, the draft statements of assets and liabilities and draft inventory of holdings – and have carried out the audit of this documents. The Board of Directors proposes that the form of the transformation shall be simplified according to the section 29 of the Act CLXXVI of 2013 on the Transformation, Merger and Division of Legal Entities. The General Meetings of the insurance companies will decide on the transformation.

The Board of Directors proposes 31 December 2016 as the balance sheet date of the draft statements of assets and liabilities and draft inventory of holdings, and proposes 30 June 2017 as the planned date of transformation.

CIG Pannonia Life Insurance Plc.