BUSINESS PROPERTY INSURANCE CONDITIONS Unofficial translation

BUSINESS PROPERTY INSURANCE CONDITIONS Unofficial translation These business property insurance conditions are applied to agreements made by the Estonian branch of AAS Gjensidige Baltic Estonia Branch if the object of insurance is a property of legal person. On issues unresolved by business property insurance conditions, the parties proceed from Law of Obligations Act and other legislation. CONDITIONS The insurer is the Estonian Branch of AAS Gjensidige Baltic Estonia Branch. The insured is a person who has entered into insurance contract with the insurer. The insured can be a person who, as the owner or legal possessor of insurable property has insurable interest. Legal possessors and persons working for the insured are deemed equal to the insured in performing obligations proceeding from insurance contract. Beneficiary is a person named by the insured in written insurance contract, who has the right to receive insurance indemnity in case of an insured event. Insurance request is written information on objects of insurance, facts and other relevant details required for the evaluation of insured risk. Insured risk is expected incidence of an event insured that is listed in insurance contract. Insurable value of building is the reinstatement or residual value of a building, parts of a building, apartment ownership and works. Reinstatement value is the minimum possible expenditure for the restoration of a building in its former appearance in the event of its complete destruction. Residual value reinstatement value of a building, subtracting a reasonable sum expressing the state of the building, especially its age and wear. Residual value is used when wear is higher than 40%. Re-acquisition cost is the amount of money required for the acquisition of a comparable new item. Market value is the average sales price for the item. Market value is used in case the decrease in value caused by wear is more than 50%. The insurable value of art, collections and jewellery is determined by their market value. Deductible is a part of loss provided by insurance contract sum of money or a percentage of loss not compensated by the insurer. Deductible is applied to all events insured. 1. OBJECT OF INSURANCE 1.1. Object of insurance is the business property listed by insurance contract (hereinafter referred to as the property): 1.1.1. Edifice (building or its interior, works); 1.1.2. equipment and inventory; 1.1.3. goods. 1.2. Detailed definition of property as follows: 1.2.1. Edifice is a uniform item built as a result of human activity, fixed to subsoil. Edifices are divided to buildings and works. 1.2.2. Building is an edifice with a roof, indoors and exterior enclosure. External communications lines, antennas on exterior enclosure, sun blinds, fascias and other mounted items. 1.2.3. Works is an edifice which is not a building. 1.2.4. For the purposes of these insurance conditions, interior is deemed as all parts of indoors of an edifice, which removal does not damage the stability and exterior of the building, the structural parts of nearby indoors or their owners rights, incl. curtain walls, floors, internal galleries and stairs, integrated furniture and sanitary equipment; curtain walls made of glass inserted during construction; doors, incl. external doors and windows; internal power system; water supply and sewerage, heating and ventilation system pipage parts which functioning and working condition is relevant only to the possessor of the rooms insured. 1.2.5. Equipment and inventory is property on the location listed by the insurance contract; incl. production equipment, machinery, spare parts and accessories; tools; furniture, furnishings, office and domestic equipment, and so on. Also loading devices, trailers, and other land vehicles moving only on the closed enterprise area, and which are not required to be registered by the Republic of Estonia. 1.2.6. Goods are property with the presumed intention to sell, e.g. raw material, semi-finished and ready products, also containers and packaging materials. 1.2.7. Insuring on the basis of property list, means that only the property in that list is deemed insured, except items and edifices listed in 1.3. 1.2.8. Insuring without the property list means that all material property on insurance site and registered in balance sheet according to fixed assets inventory listing, except items and edifices listed in 1.3. 1.3. Objects of insurance are not power-driven vehicles, cash, securities, documentation, data and software in data processing systems, weapons, ammunition, explosives, prototypes, antiques, items of precious metal and materials, also inventory, equipment and goods outside of the building, unless the contract states otherwise. 2. INSURED RISK AND MATERIAL CIRCUMSTANCES THAT INFLUENCE IT 2.1. Insured risk is a hazard against which the property is secured. The increase in probability of insured risk is deemed as the increase in probability of event insured. 2.2. Business property insured risks are fire, water damage, storm, flood, burglary, vandalism, breaking glass and other insured risks listed by insurance contract. Property is insured against insured risks agreed upon in insurance contract. Insured risks are listed separately by insurance contract conditions. BUSINESS PROPERTY INSURANCE CONDITIONS EK101 2005 1/6

2.3. Material circumstances that influence insured risk are mainly information required in writing by the insurer from the insured before entering into insurance contract. Failure to perform special risk-related conditions or agreements provided by insurance contract or its appendices is also considered as a material circumstance that influences insured risk. 2.4. The insurer must be immediately informed of the possible increase in insured risk, except in case the possible increase is caused by a generally known circumstance which influences more than only the insured risk of that the insured. 3. EVENT INSURED 3.1. Event insured is the damage to, destruction or loss of insured property, caused by unexpected and unforeseen event provided in insurance contract. 3.2. If it is not possible to determine the time the event insured took place, it will be regarded as the moment when the insured or person with equal rights should have informed about event insured. 4. FIRE INSURANCE 4.1. The insurer compensates damage to insured property 4.1.1. fire; 4.1.2. direct lightning strike; 4.1.3. occurrence related to lightning (over voltage); 4.1.4. explosion, incl. bomb explosion; 4.1.5. crashing of manned or guidable flight apparatus, its parts or cargo. 4.2. Open fire either ignited outside of a proper fire place or emerged from a proper fire place and moving on its own, endangering the environment is deemed as fire. 4.3. Direct lightning strike is a direct contact between the lightning channel and the edifice whereas the lightning is grounded through edifice. 4.4. Occurrence related to lightning (over voltage), is an unexpected increase of electrical potential in ungrounded metal support structures, equipment and circuits caused by a lightning strike. The accumulation of potential is caused by near spark discharge of lightning or a direct hit, which may cause a spark discharge and spark over inside the edifice. 4.5. Explosion is an immediately acting force created by the expansion of gases or steam. Container (boiler, pipeline, etc) explosion happens only when container wall has broken to the extent that causes the internal and external pressure to equilibrate abruptly. If explosion was caused by a chemical process inside the container, then the damage compensated even if the wall of the container is not broken. Damage caused by an underpressure is not compensated. 4.6. Following damage is not compensated: 4.6.1. fire damage, caused by treating insured property with open fire or heat. This is also valid for items that are used for producing, intermediating or forwarding useful fire or heat; 4.6.2. scorch damage, except damage caused by events listed in clause 4.1; 4.6.3. damage caused by explosion in combustion chamber of an internal combustion engine; 4.6.4. damage to electrical appliances and fixtures, caused by current: overvoltage (except that collateral to lighting), overload, insulation failures short circuit, insufficient contact and damage to measuring, control or safety equipment. 5. WATER INSURANCE 5.1. The insurer compensates damage to insured property 5.1.1. water from internal water conduit or its parts, incl. taps; 5.1.2. water or other liquid from internal sewerage or its parts; 5.1.3. water or other liquid from the heating system of edifice or its parts; 5.1.4. leaks or unexpected and unnecessary starting of fire fighting systems. 5.2. Water damage caused by frostbite is also compensated. 5.3. Following damage is not compensated: 5.3.1. repair costs for amortised or damaged internal water conduit, internal sewerage, heating or fire fighting system or their parts, appliances or pipage damaged by water; 5.3.2. damage caused by steam or long term excessive moisture (dry rot and other fungi); 5.3.3. damage caused by washing or cleaning water; 5.3.4. damage caused by liquid infiltrating the edifice from the outside, incl. external sewerage blockage; 5.3.5. damage caused by condensed water; 5.3.6. damage caused by water running through the roof or other building structures; 5.3.7. damage caused to the goods kept in underground storage, if stored lower than 12 cm from the floor level. 5.4. The insured is obliged to: 5.4.1. maintain the working order of internal water conduit, internal sewerage and heating system; 5.4.2. close, empty and keep empty the water conduits and heating systems in unused and unheated buildings and rooms. 5.5. If the damage is caused by a failure to perform obligations listed in clause 5.4, then the insurer has the right to refuse to pay out insurance benefit either fully or partially, depending on how much of damage was caused by the failure to perform the obligations. 6. BURGLARY INSURANCE 6.1. The insurer compensates damage to insured property 6.1.1. burglary or theft by breaking an obstruction or locks preventing the access to property site; 6.1.2. robbery; 6.1.3. wrongful activities of third parties or wrongful destruction or damaging of property during burglary and robbery. 6.2. If a person broke into a closed edifice or one of its rooms through a door, window, wall, ceiling, roof, floor, ventilation shaft etc, it is deemed to be a burglary. In case of burglary the existence of obvious signs of break-in are expected. 6.3. Robbery is deemed as taking property by either using or threatening to use violence. 6.4. Wrongful activities of third parties are deemed as wrongful destruction or damaging of property during burglary or robbery. 6.5. The insurer compensates necessary and justified expenses for the restoration of edifices peripheral structures or their parts that have been damaged or broken during burglary or robbery. 6.6. If a key or a key code is removed from the possession of the insured or an authorised person due to burglary or robbery, requiring the change of corresponding locks in a direct insurance site, the insurer compensates proceeding costs with a limit of indemnity up to 10 000 EEK. In case of damage caused by changing the locks, deductible is 100 EEK. 6.7. Following damage is not compensated: 6.7.1. damage caused by a person living with a the insured or a member of his/her family working together with a burglar or a robber; 6.7.2. damage caused by a person working for the insured working with a burglar or a robber, except if a the insured proves that the insured edifice or room was closed (locked) at the time when the employee caused the damage; 6.7.3. damage that was caused when insured edifice, its part or specially protected storage room was not closed (locked); BUSINESS PROPERTY INSURANCE CONDITIONS EK101 2005 2/6

6.7.4. causing damage to property, proprietary rights or some other proprietary damage by fraud. 7. STORM INSURANCE 7.1. The insurer compensates damage to insured property 7.1.1. storm, incl. hurricane, tornado, etc; 7.1.2. hail and heavy showers; 7.1.3. trees and items that have fallen on buildings because of storm; 7.2. A very strong wind with a wind speed of at least 20.8 m/s is deemed as storm. If it is not possible to measure the wind speed in a damage site, it is presumed to be storm, if the insured proves that the edifices or items in the vicinity of insurance site that had previously been in perfect order have been damaged, and the only damaging force has been the storm. 7.3. If during a shower at least 30mm of water rains during an hour or a shorter period, it is deemed as heavy shower. 7.4. Water in its solid form, either raining down or precipitating from clouds to ground is deemed as hail. 7.5. Damage caused precipitation which has infiltrated from unclosed openings in a roof, walls or ceilings of edifices, except if caused by circumstances listed in clause 7.1.3. are not compensated. 7.6. Storm damage is not compensated for unfinished edifices that are not yet ready to be used for designated purpose. Also, property damaged in such edifices is not compensated either. 8. FLOOD INSURANCE 8.1. The insurer compensates damage caused to insured property by flood (the flooding of ground during high water/flood). 8.2. Extraordinary rise in water level caused by natural events (incl. precipitation, storm, surface, soil, groundwater) whereas the ground and draining system that is built and maintained according to plan, incl. precipitation drainage and sewerage system is not able to remove said amount of water. 8.3. Following damage is not compensated: 8.3.1. damage caused by the bursting and freezing of public water supply and sewerage system and heating pipelines, water supply and sewerage or heating system pipes of the edifice; 8.3.2. damage caused by either edifice socket or basement openings, incl. surface or soil water that has entered through the internal sewerage system, walls or other construction structures of the edifice in case that water has entered because of substandard water proofing, except in cases it is caused by trees or items falling on buildings during storm. 8.3.3. damage is not compensated for unfinished edifices that are not yet ready to be used for designated purpose. Also, property damaged in such edifices is not compensated either. 9. GLASS INSURANCE 9.1. The insurer compensates the breaking of insured glass surfaces. 9.2. Glass surfaces and advertisement works that are either framed or fixed in place and listed by insurance contract are to be insured. Plastic materials, e.g. acrylic plastic, PVC (polycarbonate), etc are considered the same as glass surfaces. 9.3. Following damage is not compensated: 9.3.1. small cracks and damage (scratches) on glass surface, which do not break the glass; 9.3.2. damage caused by the intent or gross negligence on the part of the insured; 9.3.3. damage caused by graffiti on glass surfaces. 10. VANDALISM INSURANCE 10.1. The insurer compensates damage to insured property 10.1.1. wrongful activities of third parties directed to damage or destroy the property; 10.1.2. damage caused by collision with land vehicles that is not compensated by motor third party liability insurance. 10.2. Following damage is not compensated: 10.2.1. theft of parts of edifice; 10.2.2. graffiti and other paint damage. 11. INSURANCE SITE, INSURANCE PERIOD AND VALIDITY OF INSURANCE CONTRACT 11.1. Insurance period is the period of validity of the insurance contract. 11.2. Insurance site is the location of property as listed by insurance contract. 11.3. Insurance contract is valid on insurance site, period, conditions provided by insurance contract. 12. INSURABLE VALUE, SUM INSURED AND LIMIT OF INDEMNITY 12.1. Insurable value is the value of property during the event insured. 12.2. The insurable value of movable to be replaced is deemed as sum required for acquiring equal movable by taking into account decrease in value due to wear within reason. 12.3. The insurable value of edifice is deemed as the regular local construction value, minus a reasonable sum expressing the wear (insurance of residual values). If the wear of the edifice is less than 40%, then the wear will not be subtracted from the construction value (insurance of reinstatement values). 12.4. Sum insured is a maximum disbursement sum for one insured event. 12.5. Limit of indemnity is the maximum limit for the compensation of insured property or insured risk agreed upon, whereupon underinsurance is not calculated. Insurance with limit of indemnity is possible only by agreement from both parties. 13. MULTIPLE INSURANCE, OVER-INSURANCE AND UNDER- INSURANCE 13.1. Multiple insurance is a situation whereupon the property has been either partially or wholly insured for the same insured risk by multiple the insurers and the total sum of compensation to be paid by the insurers or total of sums insured would exceed the insurable value. 13.2. Over-insurance is a situation whereupon the sum insured exceeds the insurable value of property. In case of overinsurance, the insurer does not compensate for more than the actual amount of damage or the insurable value of property. 13.3. Under-insurance is a situation whereupon the property sum insured is less than the insurable value of the property during the occurrence of the event insured. In case of under-insurance insurance compensation will be paid in proportion to the ratio of the sum insured and the insurable value during the occurrence of event insured. 14. INSURANCE PREMIUM 14.1. Insurance premium is the sum of money required to be paid by the insured to the insurer. 14.2. Insurance premium or insurance premium part has to be paid by the deadline prescribed by insurance contract. 15. CONCLUSION AND ENTRY INTO FORCE OF INSURANCE CONTRACT BUSINESS PROPERTY INSURANCE CONDITIONS EK101 2005 3/6

15.1. The insured is required to present correct data in issues related to insurance contract to the insurer during the conclusion of insurance contract and to notify the insurer in all material circumstances influencing insured risk that are known to him/her; to allow a representative of the insurer to inspect the property and to perform additional conditions provided by the insurer and required for the decrease of insured risk (i.e. requirement for the installation of fire fighting or security alarm equipment, etc). 15.2. The insurer is obliged to introduce the insurance conditions to the insured during the conclusion of insurance contract. 15.3. Insurance contract enters into force and insurance cover starts at the date of commencement of the insurance period noted on insurance certificate. 16. INSURANCE INDEMNITY AND COMPENSATION FORMS 16.1. Insurance indemnity is the sum of money paid out to compensate the damage caused by the occurrence of event insured. 16.2. The amount of insurance indemnity per one event insured is limited by the propriety damage caused by the occurrence of event insured and sum insured. 16.3. The insurer compensates the insured the costs required for preventing or decreasing damages and costs covered by the insured in order to determine the damage or its extent. The insurer also compensates the costs, required for the cleaning of damaged and remaining property and the removal of waste. 16.4. The form and amount of compensation is decided by the insurer. The forms of compensation are financial compensation, restoration of damaged object of insurance or its replacement with an equal object. 17. EXPIRY, DENOUNCEMENT AND WITHDRAWAL FROM AN INSURANCE CONTRACT 17.1. Insurance contract expires: 17.1.1. if insurance premium or is part has not been paid by agreed upon date; 17.1.2. expiration of insurance period; 17.1.3. denouncement of insurance contract; 17.1.4. withdrawal from an insurance contact; 17.1.4. other grounds prescribed by law. 17.2. Insurance contract parties have the right to denounce the insurance contract pursuant to procedure and grounds prescribed by law. 17.3. The insurer has the right to denounce the insurance contract if: 17.3.1. the insured has infringed these business property insurance conditions and the insurance contract conditions; 17.3.2. if the insured or beneficiary has either deceived or tried to deceive the insurer regarding the circumstances of insurance contract or event insured; 17.3.3. insured risk increases. 17.4. When denouncing the insurance contract the insurer is obliged to follow prescribed requirements and deadlines. 17.5. The insurer does not have the right to denounce the insurance contract if the infringement of insurance contract conditions does not have an effect to the increase of possible occurrence of insured risk or to the performance of contractual obligations (except for failure to pay an instalment). 17.6. After event insured, both parties may denounce the insurance contract by informing the other party one week in advance. When denouncing the insurance contract, the insurer is still obligated to perform contractual obligations toward events insured that occurred during the validity period of the insurance contract. 17.7. The insurer has the right to withdraw from the insurance contract if the insured has not informed the insurer regarding material circumstances influencing insured risk or has in full knowledge presented the insurer with false information. The insurer has the right to withdraw from the contract in one month from the moment the insurer was informed or had to be informed of the infringement of notification obligation. 17.8. If the insured has not paid the first insurance premium during 14 days from the deadline for payment determined by the insurance contract and if the insurer has not forwarded a new deadline for payment it is deemed that the insurer has withdrawn from the insurance contract. 17.9. On denouncement of insurance contract, the insured has the right to regain the insurance premium for the time remaining to the end of the insurance period, subtracting 15% for the records management costs of the insurer. If the insurance contract is denounced after the event insurance, the insurer has the right to subtract the unpaid insurance premiums until the end of the insurance period from insurance indemnities. 17.10. When withdrawing from the insurance contract, the insurer returns to the insured the paid insurance premium paid for the period remaining to the end of insurance period, subtracting 15% for record management costs. 18. OBLIGATIONS OF THE INSURED 18.1. The insured is obliged to: 18.1.1. allow a representative of the insurer to inspect the state of the property and documentation required for the conclusion of the insurance contract; 18.1.2. inform the insurer of all material circumstances known to him/her which affect the insurer s decision to either conclude the insurance contract or to do it with additional conditions during the conclusion of the insurance contract; 18.1.3. comply with all legislation valid in the Republic of the Estonia, additional conditions provided by the insurance contract and operating instructions of appliances; to do everything in his/her power to prevent the event insured and to decrease the possible damage, not to increase the insured risk and not to let people under his/her charge to increase that risk; 18.1.4. explain the obligations proceeded from insurance contract to persons whose possession the property is given; 18.1.5. to inform the insurer immediately about the occurrence of multiple insurance and the increase in possible occurrence of increased risk (i.e. the changes in field of use of the property, storage conditions, fire or security alarm equipment, etc.); 18.1.6. immediately inform the insurer about property transfer; 18.1.7. close and lock the doors, windows-shutters, other similar openings and to turn on security alarm system noted in insurance contract when leaving the room or the building; 18.1.8. to keep the automatic fire alarm system listed in insurance contract on for 24h a day. 18.2. If the event insured occurs, the insured is obliged to: 18.2.1. take all measures to save the property and to prevent increase in damage and to decrease possible damage; 18.2.2. to inform the police about the event immediately if deliberate actions of third parties are suspected; local rescue service agency in case of fire or explosives; in other cases to corresponding competent authorities or persons; 18.2.3. to inform the insurer about the event insured in writing in person or through a representative as soon as possible; by presenting data on the event, presumed extent of damage, witnesses, parties and suspects and then proceed by following the instructions given by a representative of the insurer; 18.2.4. preserve the location of the event insured untouched until inspected by the insurer if that is possible; 18.2.5. present the insurer with the list of property lost, damaged or destroyed by the event insured in two weeks after finding out about its occurrence; BUSINESS PROPERTY INSURANCE CONDITIONS EK101 2005 4/6

18.2.6. allow the insurer to determine the reasons and extent of damage caused by the event insured during the treatment of the case by presenting necessary documentation. 18.3. The insured has to present property damaged by the event insured or its remains to the insurer for inspection The insured should not start to restore damaged property or to utilise destroyed property without the consent of the insurer. 18.4. The insured is obliged to prove the occurrence of event insured. The insured is required to present the insurer with complete information regarding the event insured. 18.5. In case the property lost due to event insured is found, the insured is required to inform the insurer in writing and in the period of two days. 19. OBLIGATIONS OF THE INSURER 19.1. The insurer is obliged to: 19.1.1. introduce the insurance conditions to the insured before the conclusion of insurance contract. 19.1.2. keep information disclosed to the insurer in relation to the insurance contract private; 19.1.3. register the notification of claim and to introduce the insured the review and compensation procedures for an event insured; 19.1.4. begin with the treatment of event insured immediately after receiving a written claim from the insured and to determine the extent of damage to be compensated; 19.1.5. to present the insured with the list of documentation required to determine the reasons and extent of damage caused by event insured; 19.1.6. take a decision regarding the compensation or refusal to compensate immediately but not later than 10 work days after receiving all required documents and determining the extent and the circumstances causing the damage. If criminal proceedings commence, the insurer has the right to postpone the decision until charges have been made, or until receiving the decision regarding the termination or cessation of criminal proceedings. 19.1.7. the insurer is required to inform the insured regarding the refusal to compensate or to decrease the insurance indemnity in at least 5 work days after making such decision, by giving the reason and grounds for refusal or decrease in insurance indemnity. 20. COMPENSATION PROCEEDURES 20.1. Direct propriety damages and other damages justified and prescribed in insurance contract are compensated. 20.2. Deductible is subtracted from insurance indemnity. If multiple deductibles are implemented simultaneously, only the highest deductible is subtracted from the compensation. 20.3. If the property is insured with limit of indemnity, the insurer compensates propriety damage up to sum agreed upon. 20.4. In case of over-insurance, the insurer compensates for the actual amount of damage. 20.5. In case of under-insurance, the insurance compensation will be paid in proportion to the ratio of the sum insured and the insurable value during the occurrence of event insured. 20.6. Under-insurance is taken into account when calculating the compensation of costs made for decreasing damage, cleaning, waste removal and other expenditures. 20.7. If the insurable value of the edifice is its reinstatement value, the insurer first compensates for the insurance indemnity part while also taking into account the wear of the edifice. The rest is compensated on the basis of restoration calculations, if the insured uses the insurance indemnity to restore the same type of edifice, performing the same function and located on the same site in two years counting from the start of the compensation. 20.8. If the cause or the extent of damage caused by event insured is not wholly proven, only the part that has been proven is compensated. 20.9. The insurer has the right to net of the unpaid parts of insurance premium until the end of the insurance period. 20.10. If the insured or the beneficiary regains the stolen property after insurance indemnity has been paid out, either the property has to be transferred to the insurer or the insurance indemnity must be returned. 20.11. The part of value added tax refunded to the policy holder on grounds of Value Added Tax Act is not compensated. 21. INSURER S RELEASE FROM REQUIREMENT TO PERFORM CONTRACTUAL OBLIGATIONS 21.1. The insurer is either partially or completely released from contractual obligations if: 21.1.1. the insured has not fulfilled at least one of the requirements in clause 18 and there is a causal relationship between the failure to fulfil a requirement and the event insured; 21.1.2. the insured has not paid the insurance premium by the deadline agreed upon (in case of instalment by the latest for the additional deadline determined by the insurer); 21.1.3. the insured has either intentionally or by negligence (not performing contractual obligations with required care) infringed at least one condition of insurance contract that influences the occurrence of event insured or the extent of damage; 21.1.4. event insured is caused by the intent or gross negligence on the part of the insured. Gross negligence is deemed as a situation whereupon a person can predict the consequences of his/her actions, but hopes carelessly that there will be no consequences; 21.1.5. event insured was caused by the activities of the insured or persons equal to insured or their employees acting under influence of alcohol, narcotic drugs or psychotropic agents; 21.1.6. if during the damaging, destruction or theft of the object of insurance or its parts there were no fire and security alarms listed by the insurance contract or if they were not turned off or were disabled with the code on the site or rooms, except in case the disregard of insurer s requirements did not influence the occurrence of the event insured. 21.1.7. the insured or beneficiary has mislead or tried to mislead the insurer in regards of the circumstances and/or the extent of damage, or has tried to deceive the insurer in some other ways in regards of the insurance contract or the circumstances connected to its performance. 21.2. The extent of release from the requirement to perform contractual obligations is determined by the insurer. 21.3. If the event insured is caused by the disregard of safety requirements, the insurer has the right to decrease insurance indemnity or to refuse to compensate at all. The connection between the disregard of safety requirements and its effect on the specific event is taken into account when deciding whether to decrease or to refuse to pay the insurance indemnity. Indemnity is not decreased in case it is proven that damage would have occurred even if the safety requirements had been met. 21.4. If the fire has started because the safety requirements were disregarded on work involving an open flame, parking a motor vehicle in production or storage room during off-hours, deductible is applied to 10% of the loss, minimum amount being 100 000 EEK. 22. EXCLUSIONS 22.1. Following damage is not compensated: 22.1.1. financial claims not proceeding from direct proprietary damage (loss of profit, damage caused by the loss of economic rights, etc); BUSINESS PROPERTY INSURANCE CONDITIONS EK101 2005 5/6

22.1.2. costs proceeding from the removal of environment pollution. 22.2. Also not compensated are damage and costs caused either directly or indirectly by: 22.2.1. war, civil war, invasion, riot, coup d état, strike, lockout, state of emergency, terrorism, expropriation; 22.2.2. either using nuclear energy for whatever purpose or its getting out of control; 22.2.3. earth quake, landslide and/or soil collapse; 22.2.4. blasting or excavation operations; 22.2.5. circumstance known to the insured and presented to the insurer before closing the insurance contract. 23. RETURNING THE INSURANCE INDEMNITY The insured and/or beneficiary is required to return the insurer the insurance indemnity if circumstances excluding the compensation have occurred after the damage has been compensated or if a third party has compensated for the damage pursuant to procedure prescribed by law. 24. NOTIFICATION FORM All reports are presented to the other contractual party in writing. 25. LODGING OF APPEALS AND SETTLEMENT OF DISPUTES 25.1. The insured has the right to appeal to Financial Supervision Authority regarding the actions of the insurer. 25.2. All disputes proceeding from this insurance contract are to be settled in Harju County Court. BUSINESS PROPERTY INSURANCE CONDITIONS EK101 2005 6/6