Report on the 18th Shareholders' Meeting of Sava, d.d.

Kranj, May 25, 2012

Report on_the_18th_Shareholders_Meeting_of_Sava

The 18^th regular Shareholders' Meeting of the joint stock company Sava took place on 24^th May 2012 in the hotel Kokra in Brdo near Kranj. 44.36% (890,357 shares) of total company's capital with voting rights were present at the Shareholders' Meeting. The share of voting rights of the first largest shareholders with voting rights amounted to 61.37% of the capital present (546,447 shares), as follows: Finetol d.d. 16.24% (144,597 shares), Merkur d.d. 15.15% (134,923 shares), PSL Storitve d.d. 12.16% (108,310 shares), NDF 1, Delniški Podsklad 11.42% (101,702 shares), and NFD Holding d.d. 9.76% (86,915 shares).

The President of the Management Board of Sava d.d. Matej Narat, MSc, explained the business results, and also the implementation of the restructuring strategy of Sava d.d. (selected parts of the address in the attached document).

VIDEO REPORT: 18th Shareholders' Meeting of Sava, d.d. (in Slovenian):

Other Notable International Activities:

Investors' Representatives Discuss the Up-Coming Investors' Week (Ljubljana, May 2012)

WFI President, Jean-Pierre Paelinck, Lectures in Seoul, South Korea (South Korea, May 2012)

VIDEO REPORT - investo.si and VZMD Actively Participate at the Ljubljana Stock Exchange's Slovene Capital Market Day 2012 for the Third Year (Ljubljana, April 2012)

VIDEO REPORT - Kapital 2012 - Active Participation of the VZMD, investo.si, invest-to.net (Ljubljana, April 2012)

VIDEO REPORT - Prominent Participants of Two Key International Conferences in Bled, India and Slovenia as Business Partners and CloudForum, Show Interest in the Investors' Week in September in Slovenia (Bled, March 2012)

VIDEO REPORT - International Conference at the Brussels Stock Exchange Stimulated Investors' Representatives and Institutions to Participate at the Investors' Week 2012 in September in Slovenia (Brussels, March 2012)

VIDEO HIGHLIGHTS from the Euroshareholders & VZMD Award Ceremony, Holiday Party, and Announcement of the World's Largest Meeting of Investors' Representatives in 2012 in Slovenia (Ljubljana, December 2011)

VIDEO REPORT - The Arrival of the President of the WFIC - World Federation of Investors Corporation, Who Will Announce the Largest Meeting of Investors' Representatives, Which the VZMD Will Organize Next Year in Slovenia, and the Recipients of the "Most Shareholder Friendly" and "Courageous Market Steps" Awards, Which Will Be Presented to the CEOs of Mercator and Nova KBM at the VZMD Reception Ceremony (Ljubljana, December 2011)

Very Successful Visit of the AEMEC Conference and at the Headquarters of Santander Bank in Madrid (Madrid, November 2011)

EUROSHAREHOLDERS General Assembly - Slovenia voted as Member of the Board; Russia and EFES Accepted as Associate Members; General Secretary, President, and Vice-Presidents Elected to Another Term; Next Assembly to Be Held in Slovenia (The Hague, October 2011)

The World Federation of Investors' Corporation (WFIC) General Meeting in Warsaw - Next Year the WFIC GM Will Be in Ljubljana; The Newly Established Affiliate of investo.si - Invest to Slovenia, investo.me - Invest to Montenegro, Was Elected as a New Association Member (Warsaw, October 2011)

"Slovenian Day at the Warsaw Stock Exchange (WSE)" Exceptional Interest of Funds, Investors, and the Financial Media for Slovenian Companies and Its Investment Environment - The Introduction of investo.si - Invest to Slovenia's Newly Founded Affiliate, investo .me - Invest to Montenegro (Warsaw, October 2011)