Gjensidige Forsikring ASA

Remuneration Information • Dec 18, 2023

Share savings scheme 2024 for employees of the Gjensidige Group and subscription from primary insider employees

Share savings scheme 2024 for employees of the Gjensidige Group and subscription from primary insider employees

The Board of Gjensidige Forsikring ASA has decided to continue the share savings

scheme for employees. Through the scheme, the company offers employees of the

company, its branches in Denmark and Sweden and subsidiaries in Norway to buy

shares in the company. The purpose of the scheme is to increase our employees'

interest for the company's goals and performance through owning shares. The

scheme is also part of the company's strategy of motivating, rewarding, and

retaining employees. The Board wishes the scheme to become a permanent part of

the company's employee incentive scheme. The general meeting will nevertheless

consider the acquisition of shares every year and decide whether to continue the

scheme.

The offer

For 2024, the company will offer a share savings scheme based on a maximum

annual savings amount (NOK/SEK/DKK 90,000) that is financed by a monthly

deduction from salary. The company will contribute with 25 per cent of the

agreed yearly amount invested, limited upwards to NOK 7,500 per year. After two

years of ownership, and provided the person is still employed with Gjensidige,

the company will allocate one bonus share for every fourth share bought in

connection with this offer. The purchase of shares will take place through DNB

on the day or days following publication of the interim accounts. The first

purchase will take place after the publication of the 1st quarter 2023 interim

report. The purchase price and the number of shares acquired by the company will

be reported in accordance with the applicable regulations. Employees will be

allocated shares at the purchase price, adjusted for the discount.

Attached to this release is information about the subscriptions in the share

savings scheme for 2024 made by primary insiders. The subscribed amount

disclosed is the total amount for 2024. The purchase price and the number of

shares will be reported each time allocation has been made.

Background

At the annual general meeting on 23 March 2023, the general meeting provided the

Board with the following authorisation to acquire shares on behalf of the

company for the purpose of implementing and executing the Group's share savings

scheme (as approved by the board) and remuneration scheme for executive

employees (in accordance with the remuneration regulations and the remuneration

policy adopted by the Board):

"The Board was authorised to acquire Gjensidige shares in the market on behalf

of the Company, cf. Section 9-4 of the Public Limited Liability Companies Act.

The authorisation can be used to purchase own shares with a total nominal value

of up to NOK 2,000,000, corresponding to 1,000,000 shares with a nominal value

of NOK 2.

The authorisation can be used to purchase own shares with a total nominal value

of up to NOK 2,000,000, corresponding to 1,000,000 shares with a nominal value

of NOK 2. The minimum and maximum amounts that can be paid per share are NOK 20

and NOK 375, respectively.

Within these limits, the Board decides at what price and at what times such

acquisition shall take place. The acquisition of shares in accordance with the

authorisation can only be used for sale and transfer to employees of the

Gjensidige Group as part of the Group's share savings programme or to executive

personnel in accordance with the remuneration regulations. The Board is free to

acquire and sell shares in the manner that the Board finds expedient, such,

however, that general principles concerning equal treatment of shareholders are

adhered to."

The authorisation is valid until the next annual general meeting, however no

longer than until 30 June 2024.

This information is subject to disclosure under the Norwegian Securities Act

section §5-12.

Contact details, Gjensidige Forsikring ASA:

Head of Investor Relations: Mitra H. Negård, Tel: +47 957 93 631

Head of Communication: Øystein Thoresen, Tel: +47 952 33 382

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

Exchange. We have about 4,200 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 34 billion in 2022, while total

assets were NOK 135 billion.