On 3 October 2011, the oral hearing on whether the Settlement Agreements should be
declared binding took place before the Court of Appeal in Amsterdam. The Stichting Converium
Securities Compensation Foundation, SCOR Holding (Switzerland) AG, Zurich Financial Services
Ltd and Vereniging VEB NCVB, parties to the Joint Petition (the “Petitioners”) argued, on the
basis of written pleading notes submitted to the Court, that the two Settlement Agreements
should be declared binding because the settlements are reasonable in all aspects, are in the
best interests of all non-US shareholders, and fully satisfy the requirements under Dutch law for
approval of the Amsterdam Court of Appeal. The Petitioners also refuted the arguments of the
institutional investors who submitted a joint Statement of Defence. The Court indicated it
would render a judgment no later than 17 January 2012.

The Hague, October 18, 2011