Gjensidige Forsikring ASA

Gjensidige Forsikring ASA: Successful issuance of Subordinated Tier 2 capital

With reference to the announcement dated 18 September 2023, Gjensidige

Forsikring ASA ("Gjensidige") has today successfully completed issuance of a NOK

1,200 million Subordinated Tier 2 bond issue, which was significantly

oversubscribed.

The Subordinated Tier 2 bond will have a floating rate coupon equal to 3 months

NIBOR + 2.25% p.a., and have a tenor of 30.25 years with a first call option for

Gjensidige after 5 years.

The Tier 2 issue is Solvency II compliant and the issuance has been authorized

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

Supervisory Authority.

Settlement of the bonds is expected to be 26 September 2023, and the bonds will

be applied for listing on Euronext Oslo Børs.

DNB Markets and Pareto Securities acted as joint lead arrangers.

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 approximately 4,200 employees and offer insurance products in

Norway, Denmark, Sweden and the Baltic states. In Norway, Gjensidige also

offers pension and savings. The Group's operating income was NOK 34 billion in

2022, while total assets were NOK 135 billion.

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