Storebrand ASA

Capital/Financing Update • May 19, 2022

Storebrand Livsforsikring AS: Successful issuance of new green bonds

Storebrand Livsforsikring AS: Successful issuance of new green bonds

Storebrand Livsforsikring AS, rated A- by S&P, has today successfully issued a

new 30NC5 NOK 650 million green subordinated T2 bond issue with a coupon of 3

month Nibor + 2.60% per annum. The maturity date for the bonds will be 27 May

2052 and the issuer has a first call option on 27 May 2027.

The green bonds will qualify as Tier 2 capital under the European Solvency II

regulatory capital regime for insurers and is expected to be rated BBB by S&P.

The settlement date for the bond issue is 27 May 2022, and the company will

apply for the bonds to be listed on Oslo Børs. The new issue is approved by the

company's general meeting and by the Norwegian FSA ("Finanstilsynet").

In conjunction with the new green bond issuance Storebrand Livsforsikring AS has

repurchased SEK 102 million of the outstanding bonds with ISIN NO0010810237 at a

price of 100.623% of par.

Danske Bank and Nordea acted as Joint Bookrunners for the transaction.

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