Storebrand ASA

Legal Proceedings Report • May 10, 2023

STOREBRAND ASA: Update on uncertain tax position

STOREBRAND ASA: Update on uncertain tax position

As previously announced, Storebrand Livsforsikring AS has appealed to the Tax

Appeals Board a decision made by The Norwegian Tax Administration (TNTA)

regarding the uncertain tax position for the income year 2015 claiming changes

should be made in the tax returns for Storebrand Livsforsikring AS.

The secretariate of the Tax Appeals Board has notified Storebrand today of their

recommendation, which supports Storebrand's view.

The case is expected to be heard by the Tax Appeals Board later this year. Both

parties have the option to appeal a decision by the Tax Appeals Board to the

courts.

The recommendation by the secretariate does not amend Storebrand's financial

accounts.

The uncertain tax position is described in more detail in note 27 of the annual

report for 2022 as "case A".

Lysaker, 10 May 2023

For further inquiries, please contact:

Trond Finn Eriksen, Investor Relations (interim):

trond.finn.eriksen@storebrand.no or (+47) 991 64 135

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 1,111

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.