Gjensidige Forsikring ASA

Remuneration Information • Dec 19, 2022

Share savings scheme 2023 for employees of the Gjensidige Group and subscription from primary insider employees

Share savings scheme 2023 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 interest among

employees 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 thereby decide whether to

continue the scheme.

The offer

For 2023, 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 percent 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.

Subscription

Attached to this release is primary insiders' subscription in the share savings

scheme for 2023. The subscribed amount disclosed is the total amount for 2023.

The purchase price and the number of shares will be reported each time

allocation has been made.

Background

At the annual general meeting on 24 March 2022, the general meeting authorised

the Board to acquire shares on behalf of the company. Shares purchased in

accordance with the authorisation can, among other things, be used for sale and

transfer to employees of the Gjensidige Group as part of the Group's share

savings scheme as approved by the Board, or to executive employees in accordance

with the remuneration regulations and the pay policy adopted by the Board. The

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

than until 30 June 2023.

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 3,800 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 30 billion in 2021, while total

assets were NOK 130 billion.