Public disclosure of inside information in accordance with Article 17 of Regulation (EU) No. 596/2014

JDC Group AG and Provinzial Konzern establish joint venture Einfach Gut Versichert GmbH

Wiesbaden, Germany, 28 June 2021 - JDC Group AG and an affiliate of Provinzial Holding AG have today signed an agreement to establish Einfach Gut Versichert GmbH as a joint venture, formalising the agreement made in a letter of intent signed on 11 February 2021 to enter into a long-term, extensive collaboration with a view to processing insurance products through the savings banks in Provincial's business region.

The purpose of Einfach Gut Versichert GmbH is to process insurance products beyond the Provinzial product range aimed at retail customers within the savings banks' distribution platform in Provinzial's business region.

The Management Board of JDC Group AG expects the creation of the joint venture to lead to the connection of up to 100 savings banks and around a million new JDC platform customers within the next five years, resulting in a significant increase in revenues and profits.

The transaction is being notified to the competition authorities for approval and is expected to be concluded in September 2021.