Storebrand ASA

Transaction in Own Shares • Feb 12, 2025

STOREBRAND ASA: Initiating Share Buyback Program today

STOREBRAND ASA: Initiating Share Buyback Program today

The Board of Storebrand ASA ("the Board") has decided to continue the share

buyback program today, 12 February 2024, with a tranche amounting to a maximum

of NOK 750 million ("the program"). This is equivalent to approx. 1.3% of the

share capital in Storebrand ASA given the last closing price of NOK 137.10. The

program will end no later than 27 June 2025.

On February 10, Storebrand received an approval from the Norwegian Financial

Supervisory Authority (NFSA) to conduct share buybacks of NOK 1.5 billion for

2025. The Board has decided to continue the buyback program with a first tranche

amounting to NOK 750 million today. The program is in accordance with the

authorisation granted to the Board by the Annual General Meeting of Storebrand

ASA ("the AGM") on 4 April 2024. The Board intends to launch a second tranche of

NOK 750 million in the second half of 2025, subject to a solvency margin of

above 175%.

The share buyback program will be carried out by way of repurchases in the

market. Storebrand has entered into a non-discretionary agreement with a third

party who will make its trading decisions independently of, and uninfluenced by,

Storebrand.

In accordance with the authorisation from the AGM, the minimum price that can be

paid per share is NOK 5, and the maximum price is NOK 150. According to the AGM

resolution, the maximum numbers of own shares that can be purchased by the

company is limited to 44 797 268. Given the amount of shares acquired in 2024

under the authorisation, the company can purchase up to 35 011 774 shares under

the program.

The purpose of the program is to return excess capital to shareholders by

reducing the share capital of the company. According to Storebrand's capital

management framework, the Board intends to buy back shares when the solvency

margin is above 175%.

The shares repurchased under the buyback program will be redeemed (i.e.

cancelled) subject to approval by the AGM in 2026. Transactions will be

conducted in accordance with the Market Abuse Regulation (EU) No 596/2014

("MAR") and Commission Delegated Regulation (EU) No 2016/1052 ("Safe Harbour

Regulation") as further set out i.a. in the Norwegian Securities Trading Act of

2007 and the Oslo Stock Exchange's Guidelines for buy-back programs and price

stabilisation dated February 2021. Transactions will be reported on a weekly

basis.

This is information is pursuant to the EU Market Abuse Regulation and subject to

the disclosure requirements pursuant to Section 5-12 the Norwegian Securities

Trading Act.

Lysaker, 12 February 2025

For further inquiries, please contact:

Johannes Narum, Head of Investor Relations:

johannes.narum@storebrand.no or (+47) 993 33 569

Storebrand is a Nordic financial group, delivering increased security and

financial wellness for people and companies. We offer sustainable solutions and

encourage our customers to take good economic decisions for the future. Our

purpose is clear: we create a brighter future. Storebrand has about 55.000

corporate customers, 2.2 million individual customers and manages NOK 1,469

billion. The Group has its headquarter at Lysaker outside of Oslo, Norway.

Storebrand (STB) is listed on Oslo Stock Exchange.

www.storebrand.no