Gjensidige Forsikring ASA

Capital/Financing Update • Mar 4, 2024

Gjensidige Forsikring ASA: Contemplating Restricted Tier 1 bond issue

Gjensidige Forsikring ASA: Contemplating Restricted Tier 1 bond issue

Gjensidige Forsikring ASA ("Gjensidige" or "the Company", OSE:GJF, LEI

5967007LIEEXZX6FAO47), rated A by S&P (stable), has mandated DNB Markets and

Nordea Bank Abp as Joint Lead Managers to arrange a digital fixed income

investor meeting on Monday 4 March 2024.

The company contemplates to issue a new Restricted Tier 1 bond issue in NOK with

floating interest rate. The issuance may be split in one or more tranches, and

each tranche will have a perpetual tenor, and the issuer will have a first call

option after minimum 5 years. Expected issue size is up to NOK 800 million,

subject to market conditions. The Restricted Tier 1 issue will be Solvency II

compliant and is expected to be rated BBB by S&P.

The contemplated bond issue is authorised 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.