Minerva Insurance Company Public LTD

Share Issue/Capital Change • Aug 7, 2020

Nicosia, 6 August 2020

Re: Document relating to the issue of up to 21,585,106 ordinary shares of a nominal value of €0.17 each, allotted to all existing shareholders free of charge

Minerva Insurance Company Public Limited (the "Company") hereby informs investors that with regard to the issue of the 21,854,312 new ordinary shares of the Company of a nominal value of €0.17 each (the "New Shares"), allotted free of charge to all of the Company's shareholders, at a ratio of thirty (30) New Shares for every hundred and nine (109) shares held by existing shareholders on 28 July 2020, there is no obligation to publish a prospectus pursuant to the provisions of Regulation (EU) 2017/1129 of the European Parliament and of the Council of the European Union on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market ("Regulation (EU) 2017/1129").

Further to the provisions of Article 1(5)(g) of Regulation (EU) 2017/1129, the Company has prepared the required document with the information on the number and nature of the 21,584,312 New Shares, as well as the reasons and details of the offer of the New Shares, in accordance with the recommendations of the Committee of European Securities regulators (CESR) on the implementation of the European Commission Regulation 809/2004 (paragraphs 173 to 176 of the CESR). The relevant document is attached herewith.

Takis Antoniou Secretary