Storebrand ASA

Board/Management Information • Sep 5, 2025

STOREBRAND ASA - Changes in Group Management team

STOREBRAND ASA - Changes in Group Management team

Kjetil R. Krøkje (43) has been appointed as the new Chief Financial Officer

(CFO) of Storebrand Group. Outgoing CFO Lars Aa. Løddesøl will step down

following nearly 25 years as part of Storebrand's executive management, the last

14 years as CFO.

"I would like to thank Lars for his many years of service in Storebrand's

management team. Over a long period, he has been an important contributor to

Storebrand's strategic transformation into a capital-efficient Nordic savings

and insurance group with strong growth and a solid balance sheet. Lars is a true

team player and has been instrumental in taking Storebrand to where we are as a

company today," says CEO Odd Arild Grefstad.

"The timing of this transition is deliberate. Lars and I agree that the

executive management team presenting at the Capital Markets Day on 10 December

should also be the team to deliver on the plan, so we felt this was the right

time," says Odd Arild Grefstad.

"After almost 25 years in Storebrand's executive management, the time has come

to pass on the baton. We are on a fantastic journey, and it is extremely

satisfying to see that the group has never been more robust or grown faster,

reflected in the positive share price development. However, what I value most

from these years is the culture and the people - in this respect, Storebrand is

truly unique," says Lars Aa. Løddesøl.

Løddesøl will remain at Storebrand, serving as Chairman of the Board in

Storebrand Forsikring, board member in Storebrand Asset Management, and to help

ensure continuity during the transition.

"I am very pleased to welcome Kjetil R. Krøkje to the executive management team.

Recruiting internally demonstrates the strength of our organisation and ensures

both continuity and renewal. Kjetil has worked closely with Lars and the rest of

the management team on the strategic transformation of Storebrand for several

years. He has a deep understanding of the company, our customers, and the

market, and will help develop Storebrand further," says Grefstad.

Krøkje will assume the role on 17 September.

"I am grateful for the trust placed in me and look forward to taking on the

responsibility. Storebrand has a strong market position, and together with

talented colleagues and leaders, we will continue to develop the company. Our

ambition remains to achieve capital-efficient growth, combined with increasing

capital distribution, which together will generate solid value creation for our

shareholders. I would also like to thank Lars for our close collaboration over

more than a decade. I am pleased that he will remain with the group to ensure a

smooth and orderly CFO transition," says Kjetil R. Krøkje, incoming CFO of

Storebrand.

Storebrand's new CFO and member of the executive management team comes from the

role of Group Head of Strategy, Finance and M&A in Storebrand ASA. He has been

responsible for the group's financing, capital structure, group strategy, M&A,

and investor relations. Krøkje has held several leadership roles in Storebrand

since 2008 and serves on several of the group's boards. He holds an MSc from the

London School of Economics and an MBA from NHH, and has a background from the

Telemark Battalion in the Norwegian Armed Forces.

Contact persons:

Kjetil R. Krøkje, Incoming Group CFO: kjetil.r.krokje@storebrand.no, tel. (+47)

934 12 155

Lars Aa. Løddesøl, Outgoing Group CFO: lars.aa.loddesol@storebrand.no, tel.

(+47) 934 80 151

Johannes Narum, Head of Investor Relations: johannes.narum@storebrand.no, tel.

(+47) 993 33 569

Stig-Øyvind Blystad, Head of Communications: stig-oyvind.blystad@storebrand.no,

tel. (+47) 918 47 226

Roadshows and conference activities:

5 September: Nordea Nordic Insurance Trip (Grefstad/Krøkje)

9 September: SEB Insurance mid-quarter update (Løddesøl/Narum)

10 September: Autumn Conference Kepler Cheuvreux (Løddesøl/Krøkje)

16 September: Annual Financials CEO Conference Bank of America (Løddesøl &

Krøkje/Narum)

20 November: European Financials Conference J.P. Morgan (Krøkje/Narum)

About Storebrand

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 1,507

billion.

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

(STB) is listed on Oslo Stock Exchange.

This information is subject to the disclosure requirements according to Oslo

Rule Book II.