Storebrand ASA

Legal Proceedings Report • Apr 7, 2022

Storebrand Livsforsikring AS: Update on uncertain tax position

Storebrand Livsforsikring AS: Update on uncertain tax position

Storebrand Livsforsikring AS has received a decision from The Norwegian Tax

Administration (TNTA) regarding the uncertain tax position for the income year

2018, and the transitional rules related to new tax legislation for life

insurance and pension companies introduced in 2018. New information in the

decision received will result in a tax income of approximately NOK 550 million

being booked in the 1st quarter 2022.

Storebrand still disagrees with significant parts of TNTA's interpretation of

the transitional rules and will challenge the decision. Information related to

uncertain tax positions is described in more detail in note 27 of Storebrand

ASA's and note 28 of Storebrand Livsforsikring AS's annual accounts for 2021.

Lysaker, 7 April 2022

For further inquiries, please contact:

Head of Investor Relations & Rating, Daniel Sundahl:

daniel.sundahl@storebrand.no or (+47) 913 61 899

This announcement is subject to information pursuant to the Securities Trading

Act § 5-12.