Gjensidige Forsikring ASA

Share savings scheme 2020 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 2020, 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 20 per cent of the

agreed yearly amount invested, limited upwards to NOK 3,000 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 2020

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 by employees that are primary insiders

Attached to this release is a list of employees that are primary insiders and

that have subscribed in the Share savings scheme for 2020. The subscribed amount

disclosed is the total amount for 2020. The purchase price and the number of

shares will be reported each time allocation has been made.

Background

At the annual general meeting on 28 March 2019, 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 2020.

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

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