FOR EVERYTHING VALUABLE TO YOU... Press conference Jahorina osiguranje ad Dr Miroslav Miskic, General Manager "Jahorina osiguranje" ad Pale – RS/BiH Banja Luka, April 18, 2012

Insurance market in BH Macroeconomic indicators Population (millions)3,84 * GDP (BAM billions)24,024,025,225,2 GDP per capita (BAM) Growth of real GDP, % change -3,10,5 Unemployment rate42% Inflation rate-0,42,4 Rating: Standard & Poor's: B+/Stable/B 1 EUR = 1,95583 BAM (*) – evaluation according to MMF and Global Finance -Total share of insurance (share of annual premium per capita) in Bosnia and Herzegovina in 2010 amounted approximately 63 EUR -In comparison with approximately 75 EUR in Serbia -And with over EUR in 15 EU countries

ABOUT JAHORINA OSIGURANJE "JAHORINA OSIGURANJE" AD Pale, established on August 11, 1992 as a mixed owned joint stock company. As of September 02, 2002 registered as a joint stock company with legal and natural entities as founders. As of January 20, 2012 Jahorina osiguranje ad is 100% owned by Vienna Insurance Group Insurance company Jahorina osiguranje а.d. has been registered for following groups of business activities: Other insurance Life insurance (from IQ 2010) Auxiliary activities for insurance.

ABOUT JAHORINA OSIGURANJE Jahorina osiguranje a.d. Pale operates at entire territory of Bosnia and Herzegovina. Business network comprises 8 branch offices with over 40 local offices and field offices throughout BH. Company is founder and owner of Jahorina auto DOO, with capital share of 100%. Jahorina auto DOO is specialized for vehicle technical checkup services and has widespread network of 30 stations for technical checkup of vehicles in all Republic Srpska.

ABOUT JAHORINA OSIGURANJE Since 2002, the Company has Certificate of Quality Management System ISO 9001 : 2000, given by RW TÜV Essen

JAHORINA AT THE BH MARKET -Leading company – absolute leader in RS, progressive growth in FBH -Growth of market share of Jahorina osiguranje ad in BH is constant in last years -Jahorina osiguranje ad was the first in RS at the end of 2011 with 15,9% of share -Takes 8 th position on BH insurance market with 5,1% of share -THE COMPANY VALUE exceeds 40 mill BAM (according to DUE DILLIGANCE E&Y evaluation)

JAHORINA in Total income of the Company 30,8 MILL BAM -Expenditures in 2011 amounted 30.2 MILl BAM -24,5 MILL BAM of premium was invoiced in 2011, and collected over 23, 1 MILL BAM -We paid 8,2 MILL BAM for 3765 claims in 2011 (8,3 mill BAM for 3558 claims in 2010) -Profit was BAM in 2011

JAHORINA TODAY -We have 215 employees -We sold 2517 risk packages, as a new product -We insured approximately motor vehicles against liability -Casco insurance of approximately vehicles -Approximately life insurance policies

-Achieve long term cumulative growth of premium and incomes (ultimate goal) -Continuous training and development of young talents -Employment of experienced professionals -Investment in long term relationships with clients -Efficient, fair and quick settlement of claims -Continuous spreading of insurance business in all aspects -Adequate portfolio structure with focus on life insurance. BUSINESS STRATEGY

Fundamental plan goals for 2012 are: - Invoiced premium in amount of 26,7 MILL BAM - Collected premium in amount 26,2 MILL BAM - Expected amount of paid claims 8,5 MILL BAM - Expenditures of conducting insurance 12,0 MILL BAM - Expected profit 0,76 MILL BAM - Number of permanently employed workers 249 PLAN FOR 2012

ACHIEVED IN IQ 2012 Invoiced premium BAM % Collected premium BAM % MTPL ,86% ,66% CASCO ,07% ,68% Property other ,88% ,96% Non-life total ,81% ,30% Life ,19% ,70% GRAND TOTAL ,00% ,00%

JAHORINA IN VIG -Jahorina osiguranje ad owned 100% by VIG since January 20, Extraordinary Assembly held on February 21, 2012 in Trebinje -New MANAGEMENT BOARD elected -We are getting used to work in the great and powerful international group

CSR ACTIVITIES IN 2011

Forthcoming activities -Social Activity day (corporative voluntary work) -Celebration of 20 th anniversary of the Company

THANK YOU FOR ATTENTION THANK YOU FOR PATIENCE