Motor insurance terms and conditions* * Motor Insurance Terms and Conditions 11 of Swedbank Varakindlustus AS are effective as of 1st October 2008.

Motor insurance terms and conditions* * Motor Insurance Terms and Conditions 11 of Swedbank Varakindlustus AS are effective as of 1st October 2008. We want every person reading these conditions to understand to what extent their vehicle is insured. Please examine these Motor Own Damage Insurance Terms and Conditions in order to better understand the rights and obligations accompanying an insurance contract. Principles of Swedbank Varakindlustus AS Upon theft or destruction of passenger cars or trucks we will compensate for the agreed value of the vehicle indicated in the policy or the market value of the vehicle if this is higher than the agreed value. We trust you in entering into the contract and in paying the indemnity. The amount of insurance premium does not depend on the number of instalments. If you wish to withdraw from the contract within 14 days of entry into the contract, we will refund your money. Upon repair of vehicles of up to 5 years of age, original spare parts are used. In the event of car theft we ensure that indemnity is paid quickly. After the occurrence of loss, the sum insured will not be reduced. Sale and Service Customer service telephone 1513 varakindlustus@swedbank.ee www.swedbank.ee 12 Liivalaia St., 15039 Tallinn Claims Handling Claims handling telephone 888 2111 (24 h) kahjuabi@ swedbank.ee www. swedbank.ee Table of Contents 2 Motor Insurance Contract 2 Definitions of Motor Insurance Terms 3 What is Covered? 7 How to Act in Case of Insured Event 7 Principles of Compensation 8 If You Are Not Satisfied 1

Motor Insurance Contract A good insurance contract is accurate and thorough. That is why an insurance contract proving the existence of insurance cover consists of different documents. Motor insurance contract documents are the following: Motor Insurance Conditions of Swedbank Varakindlustus AS which determine the extent of motor insurance cover; General Terms and Conditions of Insurance Contracts of Swedbank Varakindlustus AS which contain the general principles of insurance contracts; insurance policy which proves that an insurance contract has been concluded; inspection report which indicates the equipment and anti-theft devices installed in the vehicle, as well as the condition of the vehicle. Necessary Information In order to enter into a motor insurance contract we need you to give us information on the following important circumstances: vehicle data; list of ancillary equipment; description of damages to the vehicle; purpose of the vehicle; anti-theft devices installed in the vehicle, number of keys and alarm remote controls; number, age and driving experience of users and the number of traffic accidents they have caused. We presume that the information you have provided is true and accurate. If false information has knowingly been given to us, we may, according to the insurance contract, reduce the insurance indemnity, refuse to disburse the indemnity or terminate the insurance contract. We ask you to immediately notify us if the information you have provided changes within the insurance period. Definitions of Motor Insurance Terms Different terms are used throughout the insurance conditions and we have defined the meaning of the terms. We or the insurer means Swedbank Varakindlustus AS. You or the policyholder means the person indicated in the policy as the policyholder. Vehicle means the land vehicle (e.g. a passenger car, truck, trailer or tractor) registered or subject to registration in the Republic of Estonia and the items covered along with the vehicle. Ancillary equipment means the separately covered vehicle parts listed in the Insured Item section (see p. 3). Insurance cover means our obligation to compensate you for the loss you have suffered in accordance with the terms and conditions indicated in the insurance contract. Insurance period means the period of time within which the insurance cover is valid and regarding which the insurance premium has been calculated. Unless otherwise provided for in the insurance contract, the insurance period will be one year. Market value means the ordinary sales price of your vehicle at the moment immediately preceding the insured event. Upon determining the market value, the ancillary equipment of the vehicle will also be taken into account. Agreed value of the vehicle means the price of the vehicle which is indicated in the policy and which will be reduced by 1% per month starting from the first day of the insurance period. During the term of the additional new car cover the agreed value of the vehicle will not be reduced (see p. 6). Sum insured with regard to the vehicle means the maximum amount of money to the extent of which we will compensate for the loss suffered due to a single insured event. The sum insured is the agreed value of the vehicle or the market value of the vehicle if this is higher than the agreed value. The sum insured includes VAT unless otherwise indicated in the policy. The sum insured will not be reduced by the indemnity disbursed. Limit of indemnity for ancillary equipment means the amount indicated in the policy as the maximum amount of indemnity payable upon damage to or destruction of ancillary equipment per insured event. Insured event means the event mentioned in the insurance contract, whose occurrence will bring about our obligation of compensation (see p. 7). Insurance indemnity means monetary or non-monetary compensation for property damages you have suffered. Non-monetary compensation means the repair or replacement of the vehicle, or a part or ancillary equipment thereof. 2

Excess means the amount which you must cover in case of each insured event. Excess(es) is (are) indicated in the policy. Excess may be determined as a fixed amount of money or as a percentage of the loss amount to be compensated for (see p. 8). Total loss means the deterioration of the vehicle to such an extent that the repair thereof is not reasonable considering driving safety and economic purposefulness, or the situation where the vehicle has been stolen or robbed and has not been found within 2 months. Purpose means the intended use of the vehicle indicated in the policy. Usually the vehicle is in normal use. The vehicle is not in normal use when used as a taxi or a public transport vehicle, a vehicle leased for a short term (lease agreement term less than 6 months), an emergency vehicle, a vehicle for driving practice, an express vehicle or a security company s emergency vehicle. Area of validity means the geographic territory indicated in the policy where the insurance cover is valid. Insured item The land vehicle indicated in the policy is covered. Along with the land vehicle also the light-weight trailer, roof frame, roof box (ski or surfboard box, etc), bicycle carrier, child seat (carry cot, child restraint seat) and winch attached thereto at the time of the insured event are covered. In the event of theft said items are only covered if these have been stolen along with the land vehicle. The maximum indemnity payable for the abovementioned items is EEK 20,000 per insured event. Separately Covered Vehicle Parts, i.e. Ancillary Equipment The following vehicle parts ancillary equipment are only covered if they are indicated in the vehicle s inspection report and purchase and sale documentation of an unused vehicle and they are permanently attached to the vehicle at the time of the insured event: alloy wheels, including original alloy wheels; television receivers and audio, video, communication and navigation equipment installed in the vehicle, but not the audio system installed by the manufacturer; additional lights; spoilers; additional bumpers; taximeter, printer and card payment terminal; medical equipment; microwave oven, stove, refrigerator and sanitary ware installed in the vehicle; special and additional paintings, decorative films. Indemnity payable for ancillary equipment per insured event is limited to the limit of indemnity for ancillary equipment indicated in the policy. In case of total loss of the vehicle, the indemnity for ancillary equipment is included in the sum insured with regard to the vehicle and the limit of indemnity for ancillary equipment is not taken into account. Thus, upon determining the agreed value of a vehicle you should also take into account the cost of ancillary equipment. Personal Property Personal property in the vehicle is only covered if you have selected the Elite Motor Insurance package. The sum insured with regard to personal property is indicated in the policy. What is Covered? Our goal is to provide you with exactly the kind of insurance cover you need. The following explains the Basic, Standard and Elite Motor Insurances. Basic Motor Insurance fire and theft; Standard Motor Insurance Basic Motor Insurance plus accident; Elite Motor Insurance Standard Motor Insurance plus comfort services. Your choice is indicated in the policy. Basic Motor Insurance We will compensate for the loss caused during the insurance period by fire damage or unpermitted use, theft or robbery of the vehicle. Fire damage means the deterioration or destruction of a vehicle due to fire, smoke, soot or firefighting. Fire damage does 3

not include loss caused by a short-circuit occurring in an electrical appliance only to that appliance. Unpermitted use means unlawful use of a vehicle without the intention of appropriation. Theft means deprivation of a vehicle with the intention of illegal appropriation of the vehicle. Robbery means deprivation of a vehicle with the intention of illegal appropriation of the vehicle using violence or threats. Upon unpermitted use, theft or robbery of the vehicle, we will compensate for damages caused to the vehicle during the time the vehicle was in unlawful possession, incl. damages caused during the deprivation of the vehicle, after the vehicle is found. An act against property is not deemed an insured event if the possession of the vehicle, its keys or alarm remote controls is voluntarily transferred. Exception: We will compensate for the loss, if the vehicle is stolen from a repair shop where it was being repaired on our order. We will be entitled to reduce the insurance indemnity or refuse to pay the indemnity if: the loss is caused by the policyholder or persons identified with the policyholder (pursuant to the General Terms and Conditions of Insurance Contracts of Swedbank Varakindlustus AS) intentionally or due to gross negligence; the vehicle has been used without permission or is stolen because the keys to or alarm remote controls of the vehicle were stored carelessly. For example, you left the keys to the vehicle unattended in a public place or while being with other people. after the theft or loss of the keys to and alarm remote controls of the vehicle, the locks have not been changed or security equipment recoded or the vehicle has not been kept in a manned guarded parking lot or locked garage while waiting for lock change or recoding of security equipment; your vehicle has been used without permission or is stolen and it is discovered that at the moment of the crime the doors, windows, sun roof or other openings of the vehicle were not closed and locked or the vehicle had no anti-theft devices, or such devices were not functioning or switched on; the audio equipment is stolen along with its removable front panel; the vehicle has been altered without following the respective requirements and this affected the occurrence of loss; no reports of a criminal offence have been made to the police with regard to the unpermitted use, theft or robbery. Standard Motor Insurance In addition to the cases mentioned under Basic Motor Insurance we will compensate for the losses caused within the area of validity by an accident. In case of passenger cars and trucks, we will compensate for the expenses incurred in the use of emergency assistance services. Accident means damaging a vehicle as the result of a sudden and unexpected event (such as a traffic accident, natural disaster or demolishing). Accident does not mean the following: wear and tear and rusting of the vehicle parts; deterioration of the vehicle or a part or ancillary equipment thereof in the course of maintenance or repair work; Exception: We will compensate for the loss if repair work is carried out in connection with an insured event in a repair shop we have chosen. internal failures of the vehicle or parts or ancillary equipment thereof, unless the failures are caused by an external accident; an event which is caused by freezing; an event which is caused by animals in the vehicle; an event which is caused by improper preservation of items in the vehicle or cargo; an event which is caused by insufficient amount or circulation of oil, cooling liquid or other liquids in the equipment of the vehicle; Exception: We will compensate for the loss if the insufficient amount of liquid has been caused by a traffic accident, loss has occurred immediately after the traffic accident and, considering the circumstances, the driver has done everything within their power to avoid increase in loss. an event which occurred when the vehicle was used for motor sports (incl. amateur sports or unofficial race) in competitions, practice or testing, and unofficial speed racing; an event related to the fact that the vehicle sank through ice outside of a public ice road open for traffic; minor injuries caused to forestry and farming vehicles (scratches and small dents). 4

We will be entitled to reduce the insurance indemnity or refuse to pay the indemnity if: the loss is caused by the policyholder or persons identified with the policyholder (pursuant to the General Terms and Conditions of Insurance Contracts of Swedbank Varakindlustus AS) intentionally or due to gross negligence; Exception: We will compensate for the loss if the traffic accident is not caused intentionally and we are not entitled to reduce the indemnity or refuse to pay the indemnity on other grounds. Example: If a driver drives in front of a vehicle on a priority road, it will be deemed gross negligence, but the loss will be compensated for. However, if the driver was intoxicated, the loss would not be compensated for. the speed limit was significantly exceeded with the vehicle and this is in the cause-and-effect relationship with the occurrence of loss; summer tyres are used during the time when according to the law it is mandatory to use winter tyres; the driver who caused the accident did not have the right to drive a vehicle of the given category; the driver who caused the traffic accident was under the influence of narcotic substances or intoxicated. The blood level of alcohol at the moment of occurrence of loss may not exceed the limit permitted in the country where the loss occurred. The following is equalised with driving while intoxicated or under the influence of narcotic substances: refusing an alcohol or drug test; hindering the performance of the test; use of alcohol or drugs before the identification of the circumstances of the accident; leaving the scene of the accident if it is necessary to call the police or the rescue service. the loss is caused while driving in a place not intended for road traffic (e.g. in a boggy area, shore water, water, etc.) or due to driving on a flooded road or in a flooded area; the loss is caused while driving in an area closed for traffic with a traffic control device (e.g. in an air field, quarry or mine, etc.) and the driving prohibition applies to the insured vehicle; the reason for the traffic accident is the technical condition of the vehicle which does not enable the vehicle to be used safely and you have been aware of this or this has been evident beforehand; at the time of the traffic accident the vehicle was overloaded in a manner not permitted; the vehicle has been repaired after the insured event without our consent; the vehicle has been altered without following the respective requirements and this affected the occurrence of loss. Emergency Assistance upon Technical Failure of Passenger Car or Truck We will compensate for the following expenses caused by a sudden technical failure of the vehicle, the driver s carelessness or theft or loss of the keys to the vehicle if it is impossible to continue using the vehicle: expenses incurred in assisting in the initial engine start-up; expenses incurred in transporting the vehicle to the closest or our chosen repair shop or guarded parking lot and the accompanying parking costs if the failure cannot be eliminated on site; upon tyre failure, emergency expenses incurred in installing a new tyre if you need help to replace the tyre or you do not have a spare wheel. We will not compensate for the cost of a tyre or a spare wheel if the tyre or the wheel is not damaged due to the insured event; upon running out of fuel, the expenses incurred in supplying fuel for riding to the closest filling station; if necessary, expenses incurred in switching off the alarm; other similar expenses. We will only compensate for the emergency assistance expenses if you have ordered the services by calling the emergency number 8881888 of Swedbank Varakindlustus AS. Exception: If it is impossible for us to organize emergency assistance (in particular in Russia, Ukraine, Belarus or Turkey), we will compensate for documented emergency expenses you have borne. The sum insured with regard to emergency assistance is indicated in the policy. Elite Motor Insurance In addition to the cases mentioned under Standard Motor Insurance we will compensate for the expenses borne due to travel interruption, loss of keys or damages to personal property. 5

Travel Interruption Expenses If due to an accident, technical failure of the vehicle, loss or theft of keys you are unable to continue your trip, we will compensate the driver of the vehicle and the passengers for the following: reasonable accommodation expenses if you are more than 100 km away from your home or place of stay and it is not possible to return home immediately; reasonable expenses incurred in returning home by other means of transportation. The sum insured with regard to travel interruption expenses is indicated in the policy. Loss of keys If the keys to or the alarm remote controls of your vehicle are lost, stolen or robbed, we will compensate for the expenses incurred in recoding the alarm remote controls or if this is not possible then the expenses incurred in changing the locks. Damages to Personal Property We will compensate for the expenses incurred in reacquiring or repairing your personal property if items in the vehicle are damaged as the result of an accident or if the items kept in an invisible place in the vehicle are stolen. In case of theft the precondition for compensation is the recording of the event by the police. The sum insured with regard to damage to personal property is indicated in the policy. Take and Bring Service We will take your vehicle at an agreed time to a repair shop for evaluation of the consequences of an insured event and we will bring it back to you. The service is provided in Tallinn, Tartu and Pärnu and within a 20 km radius of the borders of said cities. The service includes the transportation of the vehicle to a repair shop in the same city. In order to use the service you must authorize our representative to use the vehicle. Additional Options In case of Standard and Elite Motor Insurances you may opt for a new car and a replacement car cover which will be indicated in the policy. New Car Cover In case of total loss we will compensate for the agreed value of the vehicle which is indicated in the policy and which will not be reduced in the course of the insurance period. The new car cover will be valid if all the following conditions are met: less than a year has passed from the first registration of the vehicle; total kilometers covered is less than 30,000; as of the first registration the vehicle has had only one owner or lessee. Replacement Car Cover We will compensate you for expenses incurred in renting a replacement vehicle or for other travel expenses which we have approved and which you have incurred during the period when it is impossible to use your vehicle as the result of an insured event. The replacement car cover also covers the cases where the other party to the traffic accident is at fault and the damages caused to your vehicle are compensated for under the motor third party liability insurance of the other party. We will pay the replacement car rent expenses or other travel expenses for up to 30 calendar days per insured event. The maximum indemnity payable by us per day is indicated in the policy. The additional replacement car cover does not include the following: your expenses with regard to the fuel and other exploitation costs of the replacement car (parking costs, windscreen washing liquid, etc.); damage caused by and/or to the replacement car; expenses incurred during the period when you do not allow the vehicle to be repaired or when the vehicle is already repaired; expenses for a repair period extended at your request if the damages caused as the result of an insured event have already been eliminated. Additional Expenses to Be Compensated for In addition to direct property damage we will compensate the following expenses incurred after an insured event: expenses incurred in hauling the vehicle back on the road; 6

expenses incurred in transporting the vehicle to the closest or our chosen repair shop or parking lot and the accompanying parking costs if the vehicle is unfit for driving; expenses incurred in transporting the vehicle back to Estonia if the loss occurred outside of Estonia, the vehicle was unfit for driving and we do not agree to have the vehicle repaired in the country of its location. We will compensate for said expenses to the extent of EEK 5,000 per insured event in Estonia and to the extent of EEK 15,000 per insured event outside of Estonia. Exceptions The insurance does not cover the cases arising from the following sources, events, situations and actions and no indemnity will be paid for losses occurred as the result thereof: war or political armed conflict, insurrection, mass riot, strike, interruption of work, terrorism, application of international sanctions or expropriation of property; nuclear weapon, nuclear fuel, nuclear energy or radioactive substance or other source of radiation, explosion of a nuclear or radioactive substance. How to Act in Case of Insured Event If you get into a traffic accident, your vehicle is stolen or catches fire, please call: the police on the number 110. If people have been injured in the traffic accident or the parties to the accident cannot reach an agreement as to who caused the accident or the vehicle is destroyed or stolen; the rescue services on the number 112. If there is a risk of fire, explosion or environmental pollution. In order to use the emergency assistance service, to have the vehicle hauled back on the road or towed, please call the number 888 1888. Thereafter please notify the Claims Handling Department of Swedbank Varakindlustus AS of the loss as soon as possible or, if necessary, ask somebody else to do so within 3 days at the latest: Contact details of claims handling: Telephone 888 2111 (24 h) kahjuabi@swedbank.ee www.swedbank.ee A claims adjuster of Swedbank Varakindlustus AS will advise you on how to act at the scene of the accident, receive your damage notice and give an outline of subsequent steps. Principles of Compensation Manners of Compensation In case of loss which has occurred as the result of an insured event we will pay the repair costs of your vehicle or we will pay you monetary compensation. In case of total loss we will pay the indemnity in cash or replace the vehicle with an equivalent one. We are entitled to choose the manner of compensation. In case of theft of or damage to ancillary equipment or personal property we will pay the repair or reacquisition costs, but not more than the limit of indemnity indicated in the policy. We will not compensate for the decrease in the market value of the vehicle, revenue forgone, financial liabilities or other expenses which we have not agreed on. Vehicle Repair We will have your vehicle or a part or ancillary equipment thereof repaired if it is economically and technically justified. Upon repair, the age and general condition of your vehicle are taken into consideration. When repairing vehicles of up to 5 years of age, original spare parts which have been produced by the manufacturer and which have a warranty are used. When repairing older vehicles, second hand or non-original spare parts may be used, provided that their condition is not worse than that of the corresponding damaged or destroyed part of the vehicle before the insured event. We will not compensate for the parts of the vehicle which, according to the driving safety requirements, should have been replaced by the time the loss occurred. Example: If within the working area of the windscreen wiper of the driver s or passenger s side there are damages which were caused before the insured event and which made it harder to observe traffic, the replacement windscreen will not be compensated for. If a part of the vehicle to be replaced or repaired has been partly damaged before the insured event, we are entitled to deduct 7

from the indemnity the costs to be borne in order to eliminate previous damages or decrease the indemnity payable for the replacement of the damaged part in proportion to the previous damages. If the vehicle is to be repaired, the insurance indemnity will amount to the cost of repair work we have accepted less the excess. If the vehicle is to be repaired, we will be entitled to choose the repair shop. If you wish to have the vehicle repaired in a repair shop you have chosen and the repair costs there exceed the price quotation of the repair shop of our choice, the price quotation of the repair shop we have chosen will be the limit of indemnity. Monetary Compensation Upon agreement we will pay you the repair costs of the vehicle in cash. In case of total loss of the vehicle, we will disburse you the sum insured less the excess, unless the vehicle is replaced (see p. 3). Upon compensation for total loss, we will be entitled to keep the remains of the vehicle or parts thereof. If you wish to keep these to yourself, we will reduce the insurance indemnity by the market value of the remains of the vehicle. If the repair cost of the vehicle exceeds 50% of the sum insured, we will be entitled to consider the case to be a case of total loss. If the repair cost exceeds 70% of the sum insured, the case will be a total loss case and we will pay you the sum insured less the excess (see p. 3). If you have not paid us insurance premium for the entire insurance period, then upon compensation for total loss we will be entitled to deduct from the insurance indemnity the insurance premiums left unpaid for the insurance period. Excess In case of each insured event you must cover the excess indicated in the policy. Excess is deducted from the amount to be compensated for, unless otherwise agreed. If the traffic accident happens and the vehicle is repaired outside of Estonia, you will have to pay the double amount of the excess indicated in the policy. Compensation Procedure We will do everything within our power to ensure that the compensation procedure is quick and carefree. We will inform you of our decision regarding compensation for loss immediately, but not later than within 10 days of the identification of the circumstances and amount of loss and the receipt of necessary documents. In case of theft, unpermitted use or robbery of the vehicle, not later than within 2 months of the occurrence of the insured event. If, due to the circumstances of the insured event, criminal proceedings have been initiated and in the course of the proceedings circumstances referring to the exceptions indicated in the insurance contract have become evident, we are entitled to postpone the compensation for loss until the criminal proceedings are terminated or until the corresponding circumstances have become clear. Please inform us immediately of the discovery of the vehicle stolen, used without permission or robbed. If we have compensated you for a vehicle stolen, robbed or used without permission or a part thereof and the vehicle or its part is found, you must immediately deliver the vehicle or the part to us or refund us the insurance indemnity we paid. If the loss you have suffered is subject to partial or complete compensation under some other insurance contract, we are entitled to reduce the insurance indemnity accordingly or refuse to pay the insurance indemnity. If You Are Not Satisfied If you are not satisfied with the service of Swedbank Varakindlustus AS, we kindly ask you to inform us thereof. We hope to find a solution satisfactory to both parties. If you do not agree with a decision we have made or you wish to receive additional explanations, you are entitled to apply for a revision of the decision. Please send us a written application which explains your position regarding the decision made. We will reply to your application within the following 10 days. You may lodge complaints regarding our actions with the Consumer Protection Board or the Financial Supervision Authority. If you need additional information in order to prepare your complaint, we are glad to assist you. In order to contest our decision regarding compensation for loss, you are entitled to have recourse to a court. 8