Gjensidige Forsikring ASA

Approval of merger of Gjensidige and its wholly owned Danish subsidiary Gjensidige Forsikring Tidligere PenSam Forsikring A/S

Reference is made to the announcement on 20 March 2024 regarding the approval of

a merger plan between Gjensidige Forsikring ASA ("Gjensidige") and its fully

-owned Danish subsidiary, Gjensidige Forsikring Tidligere PenSam Forsikring A/S

("Pensam"). Today, Gjensidige's Board has approved the merger in accordance with

the announced plan. It is anticipated that Pensam's Board will approve the

merger on 2 May 2024. Completion of the merger is subject to approval from the

Norwegian and Danish financial supervisory authorities. Both companies will

apply for such approvals. The merger is expected to be completed during the

third quarter of 2024.

This information is subject to disclosure under the Norwegian Securities Act

section §5-12 and the requirements of Oslo Børs' Continuing Obligations.

Contact, Gjensidige Forsikring ASA:

Head of Investor Relations Hagen Negård. Tel: +47 957 93 631

Investor Relations Officer Marius Michelsen Fjellbo. Tel: +47 995 67 593

Gjensidige is a leading Nordic insurance group listed on the Oslo Stock

Exchange. We have about 4,500 employees and offer insurance products in Norway,

Denmark, Sweden and the Baltic states. In Norway, we also offer pension and

savings. The Group's operating income was NOK 36 billion in 2023, while total

assets were NOK 148 billion.

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