Gjensidige Forsikring ASA

Gjensidige Forsikring ASA: Successful issuance of Restricted Tier 1 capital

With reference to the announcement on 4 March 2024, Gjensidige Forsikring ASA

("Gjensidige", OSE: GJF, LEI 5967007LIEEXZX6FAO47), rated A by S&P (stable), has

today successfully completed the issuance of a NOK 800 million Restricted Tier 1

bond issue, which was substantially oversubscribed.

The Restricted Tier 1 bond issue will have a floating rate coupon equal to 3

months NIBOR + 2.80% p.a. and have a perpetual tenor with a first call option

for Gjensidige after 5.75 years. Expected issue rating is BBB by S&P.

Settlement of the bonds is expected to be 12 March 2024, and the bonds will be

applied for listing on Euronext Oslo Børs.

The Tier 1 issue is Solvency II compliant, and the issuance has been authorized

by the Company's General Meeting and approved by the Norwegian Financial

Supervisory Authority.

For further information, please contact:

Mitra Hagen Negård, Head of Investor Relations, tel. +47 957 93 631

This information is subject to disclosure under the Norwegian Securities Act

section §5-12.

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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