Protector Forsikring

Capital/Financing Update • Mar 23, 2017

Protector Forsikring ASA (PROTCT) - Successful placement of NOK 750 million Tier 1 and Tier 2 capital

Protector Forsikring ASA (PROTCT) - Successful placement of NOK 750 million Tier 1 and Tier 2 capital

Oslo, 23 March 2017.

Reference is made to the stock exchange announcement published 15

March 2017 regarding a potential placement of Tier 1 and Tier 2

capital.

Protector Forsikring ASA (the "Company" or "Protector Forsikring")

has today, 23 March 2017, issued a NOK 350 million restricted Tier 1

bond with a coupon rate of 3M NIBOR + 5.0% and a NOK 400 million

subordinated Tier 2 bond with a coupon rate of 3M NIBOR + 2.9%.

The restricted Tier 1 bond is perpetual with optional redemption

after 5 years. The subordinated Tier 2 bond has a maturity of 30

years and is callable after 5 years. Settlement date is 31 March

2017 for both loans.

Protector Forsikring will apply for listing of the bonds on the Oslo

Stock Exchange.

Nordea Markets and Pareto Securities acted as managers for the bond

issues.

Contact persons in Protector Forsikring:

CEO - Sverre Bjerkeli: +47 928 38 072

CFO - Vibeke Krane: +47 975 71 784

CIO - Cathrine Foyn: +47 955 22 012

This information is subject to the disclosure requirements of

section 5-12 of the Norwegian Securities Trading Act.