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, the Central Bank of Hungary with its decision no.H-EN-II-115/2022 dated July 13, 2022. authorized the transfer the contract portfolio of BNP Paribas Cardif Insurance cPlc. which includes all group non-life insurance contracts (credit coverage insurance resulting from non-life insurance contracts [except residential property insurance with a credit coverage clause], insurance against various financial losses, other residential property insurance contracts), to which the contracting party of the insurance contracts is MKB Bank Plc., as the legal successor of BUDAPEST Credit and Development Bank cPlc, to CIG Pannonia First Hungarian General Insurance cPlc. with effect from September 1, 2022.

The Company also publishes that the Central Bank of Hungary with its decision no. H-EN-II-115/2022 dated July 13, 2022. authorized the transfer - as arising from the Agreement - of all group life insurance contracts (insurance contracts belonging to the risk group of group credit coverage life insurance) of BNP Paribas Cardif LIFE Insurance cPlc., to which the contracting party of the insurance contracts is MKB Bank Plc., as the legal successor of BUDAPEST Credit and Development Bank cPlc, to CIG Pannonia Life Insurance Plc. with effect from September 1, 2022.

After the transfer of the portfolio, CIG Pannonia Insurance will be the insurer of the contract portfolio specified in the license of the Hungarian National Bank, which will be reinsured by BNP Paribas Cardif Insurance in accordance with the aforementioned Agreement.

 The Company emphasizes that there is no competition law obstacle to the acquisition of the portfolio - based on the previously issued official certificate of the Economic Competition Authority - so there is no additional condition for the transactions to be carried out based on the authorization just granted.

The Managing Board 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.

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