Storebrand ASA

Transaction in Own Shares • Feb 7, 2024

STOREBRAND ASA - Initiating NOK 400 million Share Buyback Program

STOREBRAND ASA - Initiating NOK 400 million Share Buyback Program

The Board of Storebrand ASA ("the Board") has decided to continue the share

buyback program today, 7 February 2024, with a tranche amounting to a maximum of

NOK 400 million ("the program"). This is equivalent to approx. 0.9% of the share

capital in Storebrand ASA given the last closing price of NOK 95.66. The program

will end no later than 3 April 2024.

On February 6, Storebrand received an approval from the Norwegian Financial

Supervisory Authority (NFSA) to conduct share buybacks. The Board has decided to

continue the buyback program with a tranche amounting to NOK 400 million today.

The program is in accordance with the authorisation granted to the Board by the

Annual General Meeting of Storebrand ASA ("the AGM") on 13 April 2023.

The share buyback program will be carried out by way of repurchases in the

market. Storebrand has entered into a non-discretionary agreement with a third

party who will make its trading decisions independently of, and uninfluenced by,

Storebrand.

In accordance with the authorisation from the AGM, the minimum price that can be

paid per share is NOK 5, and the maximum price is NOK 150. According to the AGM

resolution, the maximum numbers of own shares that can be held by the company is

limited to 46 549 786. Given the current holdings, the company can purchase up

to 28 372 180 shares under the program.

The purpose of the program is to return excess capital to shareholders by

reducing the share capital of the company, and to acquire shares for the

company's remuneration program for management and stock purchase scheme for

employees. According to Storebrand's capital management framework, the Board

intends to buy back shares when the solvency margin is above 175%.

The shares repurchased under the buyback program that are not used for the

company's remuneration program or stock purchase scheme for employees, will be

redeemed (i.e. cancelled) subject to approval by the AGM in 2025. Transactions

will be conducted in accordance with the Market Abuse Regulation (EU) No

596/2014 ("MAR") and Commission Delegated Regulation (EU) No 2016/1052 ("Safe

Harbour Regulation") as further set out i.a. in the Norwegian Securities Trading

Act of 2007 and the Oslo Stock Exchange's Guidelines for buy-back programs and

price stabilisation dated February 2021. Transactions will be reported on a

weekly basis.

Lysaker, 7 February 2024

For further inquiries, please contact:

Johannes Narum, Head of Investor Relations:

johannes.narum@storebrand.no or (+47) 993 33 569

Storebrand is a Nordic financial group, delivering increased security and

financial wellness for people and companies. We offer sustainable solutions and

encourage our customers to take good economic decisions for the future. Our

purpose is clear: we create a brighter future. Storebrand has about 55.000

corporate customers, 2.2 million individual customers and manages NOK 1,212

billion. The Group has its headquarter at Lysaker outside of Oslo, Norway.

Storebrand (STB) is listed on Oslo Stock Exchange.

www.storebrand.no

This is information is pursuant to the EU Market Abuse Regulation and subject to

the disclosure requirements pursuant to Section 5-12 the Norwegian Securities

Trading Act.