Zavarovalnica Triglav

Investor Presentation • Jan 26, 2022

Building a Safer Future.

Triglav Group´ s Capital Markets Day 2022

25 January 2022

Presentation

Disclaimer

The information, statements or data contained herein has been prepared by Triglav Corporate officers. Zavarovalnica Triglav, d.d., or any member of Triglav Group, or any Zavarovalnica Triglav employee or representative accepts no responsibility for the information, statements or data contained herein or omitted here from, and will not be liable to any third party for any reason whatsoever relating to the information, statements or data contained herein or omitted here from. Such information, statements or data may not be prepared according to the same standards and requirements than the information, statements or data included in Triglav's own reports and press releases are prepared to, and accordingly the level of information and materiality and nature of the disclosures may be different. Undue reliance should not be placed on the information, statements or data contained herein because they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results to differ materially from those expressed or implied in such information, statements or data. Moreover, the information, statements and data contained herein have not been, and will not be, updated or supplemented with new or additional information, statements or data.

Time (CET)	Theme	Presenter
14:00 - 14:05	Welcome and agenda	Helena Ulaga Kitek, Head of IR
	Opening remarks	Andrej Slapar, CEO
	Strategy 2022 - 2025	Uroš Ivanc, MB member, CFO
14:05 - 15:20	Service-oriented business models and ecosystems	Tadej Čoroli, MB member
	Customer experience & Digital transformation	Robert Trnovec, Authorized Officer of MB
	ESG	Uroš Ivanc, MB member, CFO
15:20 - 15:55	Q&A session	All presenters
15:55 - 16:00	Closing remarks	Uroš Ivanc, MB member, CFO

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Opening Remarks Andrej Slapar, CEO

Profitability Client-centric approach New ways of doing business 2017-2022

2010 - 2017 Profitability Selective expansion

Fast growth in the markets outside Slovenia

2000

Leading position in Slovenia, expansion started

1900

2008 Listing on the Ljubljana SE

Established in Austro-Hungarian Empire as the first Slovenian insurance company founded with domestic capital

1990

Transformation into a public limited company Expansion of business

Triglav Story

2022-2025 Key strategic guidelines unchanged. Outstanding client experince, digital transformation, service-oreiented business models.

Triglav Group´ s Strategy 2022 - 2025 Uroš Ivanc, MB Member, CFO

Triglav Group Strategy 2022-2025 /Overview

© Triglav Group Capital Markets Day 2022 / Investor Presentation

Creating Safer Future Is Our Mission

We provide development-oriented environment for our employees.

We are stable, safe and profitable investment for our investors.

Vision & Values

Triglav is leading insurance and financial group in Adria region, synonimous with the best user experience. Through our operations, we are creating above-average value for our key stakeholders and promote transition to sustainable company.

© Triglav Group Capital Markets Day 2022 / Investor Presentation

Own insurance portfolio (assets backing liabilities and guarantee funds)

Mutual funds and discretionary mandate assets

Pension funds

Triglav Group Will Remain Leader In All Its Core businesses In Adria Region

© Triglav Group Capital Markets Day 2022 / Investor Presentation

The direction of Triglav Group's strategic transformation

• Digitalisation and digital transformation – "to improve Group´ s readiness and to avoid conflict with traditional sales channels".
• Uniform, outstanding and repeatable client experience.
• Ecosystem transition from insurance-oriented business model by adding assistance and related services to serviceoriented business model.

From Offering Insurance Products By Providing Related Services Based On Hybrid Model To Developing Ecosystems Making Services Available Via Digital Channels

11

Digital transformation

Development of service-oriented business models

An outstanding client experience as key element of Group´s differentiation and competitive advantage

Development of organisational culture

Strategic management of Group

© Triglav Group Capital Markets Day 2022 / Investor Presentation

Digital Transformation And Development Of Service-Oriented Business Models As Strategic Guidelines To Ensure Group´ s Long-Term Competitive Advantage

Guidelines Related to Triglav´ s Core Businesses

Strategic goal: Triglav Group will remain the leader in all its strategic core businesses in Adria region.

▪ Reinsurance partner with number of established long-term partnerships

▪ Utilisation of free capital capacities

▪ Prudent & selective underwriting

• Growth
• Digitalisation
• Partners and affluent clients
• Diversification

Guidelines Related to Triglav´ s Core Businesses

Strategic goal: Triglav Group will remain the leader in all its strategic core businesses in Adria region.

Strategic Guideline: Safe and Profitable Operations

High profit and profitable growth Disciplined capital management

© Triglav Group Capital Markets Day 2022 / Investor Presentation

> 250%	Surplus capital adequacy	Possibility of more aggressive growth of business volume, assessment of potential changes in business strategy.
200 - 250%	Target capital adequacy	Regular performance of risk management activities.
150 - 200%	Sub-optimum level of capital adequacy	Analyzing possible medium and long-term measures to improve capital adequacy. Emphasized monitoring of risks.
130 - 150%	Warning level of capital adequacy	Implementation of measures to improve capital adequacy.
Rating A/Stable (2016 – 2021)

Independent insurance group with dominant in Adria region	and market	financial position
Insurance markets	in Adria	region,
internationally through	reinsurance:
As at 9M 2021	Market share	Market position
Slovenia	38.5%	st 1
Croatia	5.9%	th 7
Serbia	7.3%	th 5
Montenegro	40.1%	st 1
Bosnia and Herz.	8.9%	rd 3
North Macedonia	13.2%	st 1
Adria Region (2020)	21.1%	st 1

15

Key Drivers of Target ROE

• Growth of other income
• Prudent acceptance of underwriting risks
• Balanced portfolio diversification
• Appropriate insurance-technical provisions
• Appropriate reinsurance of risks exceeding own equalisation
• Optimisation of the yield-to-underwriting risk ratio
• Impacts of cost effectiveness initiatives, increased productivity, business automation and digitalisation
• Optimal capital allocation with respect to risk-adjusted return Ensuring long-term and stable profitability of investment for investors Achieving target capital adequacy

Triglav Group Strategy 2022-2025 /Safe and Profitable Operations

© Triglav Group Capital Markets Day 2022 / Investor Presentation

Service-oriented business model and ecosystem Tadej Čoroli, MB Member, Marketing & Sales

"Using a shared platform, Triglav Group develops interconnected ecosystems that include insurance products"

Triglav financial security

The central point for planning and creating a person's financial security in all their stages of life – from saving to pension, access to (financial, tax) advisers or the use of various payment instruments

Triglav Zdravje (health)

Connecting partners in providing comprehensive healthcare services, which ensure an outstanding client experience in different stages of life.

Triglav Male živali (pets)

For the wellbeing of pets, assistance in their acute health problems and insurance of the owner's personal liability caused by their pet

Triglav Mobilnost (mobility)

The provision of various forms of safe and sustainability-oriented mobility

Triglav Dom (home)

The ecosystem of assistance services in eliminating damages, access to the services of verified providers and to solutions and systems for assistance and remote monitoring and security of your home

A shared platform

Client data management, provision of security, personalised offering, a loyalty programme, assessment of providers, gamification, joint digital tehnologies (e.g. Image and speech recognitions, AI/ML, bots, geolocation services, AR)

Triglav´s Ecosystem Platform

Triglav Group Strategy 2022-2025 /Service-Oriented Business Models and Ecosystems

Customer Experience Digital Transformation Robert Trnovec, Authorized Officer of MB

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Strategic Guideline: Outstanding Customer Experience

Triglav Group's customer relationship management concept

Factors creating outstanding experience and elements of differentiation:

Uniform customer experience	Outstanding customer experience
Uniform experience across all: ▪ Channels (agents, sales counters, telephone, email, letter, web chat, mobile application, website), ▪ Processes (underwriting, claim reporting, assistance, information, data modification, termination), ▪ Products, ▪ Companies of Triglav Group.	differentiation: client – time-wise, steps, reasons, etc.) measurable) steps, Cx & Ux)
"No matter how I contact Triglav, I always have the same experience (what I can do, learn, report, same processes or procedures)"	anywhere else"

▪ Reliability (always following the same process, transparency to the client – time-wise, steps, reasons, etc.)

▪ Responsiveness (as soon as possible without unnecessary delays, measurable)

▪ Simplicity (no unnecessary data collection, easy to understand steps, Cx & Ux)

"I choose Triglav because they take care of me better than anywhere else..."

Platform for Communication and Client Relationship Management

Triglav Group Strategy 2022-2025 /Outstanding Customer Experience

© Triglav Group Capital Markets Day 2022 / Investor Presentation 20

Main building blocks of Triglav´s digital operations

Ambition: To become leading digitalised insurance and financial group in Adria region.

• Digital platform, which provides outstanding user experience (simplicity, intuitiveness, comfort, availability, reliability, transparency, information)
• Digital services as (more than good) alternative to traditional sales channels.
• Digital onboarding of clients.

• Digital underwriting
• Digital marketing
• Digital campaigns
• Consent/data
• Competence development

• Organisation/processes

• Digitalisation and automation

• of the claims process
• Self-service claim report
• FNOL
• Quick payouts

Strategic Guideline: Further Digital Transformation

© Triglav Group Capital Markets Day 2022 / Investor Presentation

ESG Uroš Ivanc, MB Member, CFO

Triglav´s Ambitions in Sustainable Development (ESG)

I. Insurance and asset management

DEVELOPMENT: ESG aspects integrated into development of insurance and investment products and services.

INVESTMENTS: Increase share of green and sustainable investments. Maintain its exposure to Coal Exit List issuers to less than 1% of total investment value by 2025.

INSURANCE: Further focus on parametric insurance products for droughts, floods and other climate risks. Promotion of products related to sustainable mobility. Offer of effective risk protection for providers of energy from renewable sources. Design policy on insurance for coal mines and thermal power plants (taking into account individual countries' strategy to phase out coal and transition to climate-neutral economy).

By pursuing sustainability goals, Triglav Group is creating long-term stable basis for its profitable and safe operations, promoting transition to sustainable society and reducing its impact on climate change.

	II. Triglav´s business processes
	SUPPLIERS: Implement assessment by ESG criteria.
	CARBON FOOTPRINT: Comprehensive measurement and management (Scopes 1, 2 and 3). 15% reduction in location-based (Scopes 1 and 2) carbon footprint per employee by 2025, while pursuing the 2050 carbon neutrality target in line with European Green Deal.
	IN OUR PROCESSES: By 2025 increased share of electricity from renewable energy sources, reduce energy and paper consumption per employee and total waste generated per employee, and increase share of electric and hybrid vehicles in our fleet to at least 30%.

III. Responsible stakeholder engagement

Group aims to play leading role in integrating the best global ESG practices into operations in Adria region.

IV. Efficient corporate governance

CLIENTS: High levels of client (NPS) satisfaction.

EMPLOYEES: High levels of employee satisfaction. Implementation of concept of flexible working at Group level by 2023. Maintained focus on multidimensional diversity, intergenerational cooperation, employee development and training, promotion of health and well-being of employees.

SOCIETY: Further participation in social responsibility and environmental projects. Donations and sponsorship of green and social projects with specific objective of having positive impact and contributing to UN Sustainable Development Goals (SDGs).

TRIGLAV´S MANAGEMENT: Upgrade of Triglav´s succession, diversity and remuneration policies for management by incorporating ESG factors. Efforts for improvement of Group's management and supervision bodies in terms of gender, education and experience.

ESG REPORTING: Upgrade of public disclosures by 2025 (in addition to GRI also SASB, disclosures according to CDP and TCFD and adoption of UN PSI).

MANAGEMENT OF ESG ACTIVITIES: Responsibility at MB level. Activities coordinated by Sustainable Development Coordinator, Compliance and Sustainable Development Committee.

Triglav´s Ambitions in Sustainable Development (ESG)

Q & A Session

Triglav is the highest mountain in Slovenia and the highest peak of the Julian Alps (2,864 meters/9,396 ft).