Storebrand ASA

Storebrand Livsforsikring AS: Contemplating issuance of a Restricted Tier 1 bond issue

Storebrand Livsforsikring AS, rated A by S&P, has mandated DNB Markets and

Nordea to arrange a digital fixed income investor meeting on 25 October 2023 at

13:00 CEST.

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

perpetual tenor in NOK and/or SEK. The issuance may be split in one or more

tranches, and the issuer will have a first call option after minimum 5 years.

Total expected issue size is minimum 500 million and maximum 1,000 million in

NOK and/or SEK, subject to market conditions.

The contemplated Restricted Tier 1 issue is expected to be rated BBB by S&P and

will be Solvency II compliant. The bond issue is approved by the company's

General Meeting and by the Norwegian Financial Supervisory Authority.

In conjunction with the potential bond issuance the company may consider to buy

-back the outstanding Tier 2 issues with ticker codes STORL02 (ISIN

NO0010706021) in NOK and/or STORL07 (ISIN NO0010863228) in SEK.

Oslo, 25 October 2023

For further information, please contact:

Kjetil R. Krøkje, Group Head of Finance, Strategy and M&A, telephone +47 934 12

155

Nikola Heitmann, Head of Capital Management, telephone +47 416 97 236

This information is subject to the disclosure requirements pursuant to Section 5

-12 the Norwegian Securities Trading Act.

For further inquiries, please contact:

Head of Investor Relations & Rating, Daniel Sundahl:

[email protected] or (+47) 913 61 899

Storebrand's ambition is to provide our customers with financial freedom and

security by being the best provider of long-term savings and insurance.

Storebrand will deliver sustainable solutions adapted to the customer's

individual situation. Storebrand has about 40.000 corporate customers and 2

million individual customers, and has its headquarter at Lysaker outside of

Oslo, Norway. Storebrand manages NOK 1 040 bn and is one of the largest asset

managers in the Nordics. Storebrand (STB) is listed on Oslo Stock Exchange.

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