EQS-Adhoc: Complaint for damages resulting from Infinus investor claims against UNIQA Österreich / Term sheet on key elements of out-of-court solution with key investor groups

Update of the disclosure of inside information pursuant to Art 17 MAR of 13 November 2020, 4 May 2022, 18 August 2022 and 21 February 2023.

On 13 November 2020 UNIQA Insurance Group AG published as ad hoc disclosure pursuant to Art 17 MAR that a complaint for damage claims based on private law was filed by a German special purpose entity against UNIQA Österreich Versicherungen AG ("UNIQA Österreich") in its capacity as legal successor of former FINANCE LIFE Lebensversicherung AG and that claims have also been alleged by other investors out of court. On 18 August 2022 UNIQA Insurance Group AG published as ad hoc disclosure that a part of these investor claims, which had previously been alleged out of court, have been asserted in court in Germany. These plaintiffs belonging to investor groups coordinated among themselves are different from those whose claims are asserted by the German special purpose entity in Vienna.

A term sheet will be signed today with the representatives of those investor groups coordinated among themselves (only not with the German special purpose entity) which reflects the agreement on the key elements of a possible out-of-court solution. For reasons of procedural economy, but without acknowledging the alleged claims and without acknowledging any legal obligation, UNIQA Österreich would undertake to pay to the investors belonging to these groups an amount of up to EUR 59,320,000.00, the exact determination and due date of which still depend on certain perimeter. In addition to the preparation and signing of the formal and binding agreement, the agreement requires the approval by the relevant claimants with a quota of 90 % in order to become effective.

Based on current estimates of UNIQA, this is not expected to have a material adverse effect on the overall result for the 2023 financial year.