Alm. Brand — M&A Activity 2018

Mar 20, 2018

In continuation of the already announced agreement to acquire the majority of
the activities of Saxo Privatbank A/S (company announcement no. 6), Alm. Brand
is pleased to announce that the final regulatory approval was received today.

With the approval from the Danish Competition and Consumer Authority of 14
March 2018 and today’s approval from the Danish Financial Supervisory
Authority, all regulatory approvals have been received.

The acquisition will be completed according to plan on 1 April 2018.

As mentioned previously, the acquisition is expected to contribute annual
synergies from 2019 of approximately DKK 75 million before amortisation of the
value of customer relationships. The acquisition is not expected to have any
significant impact on the expectations already announced for 2018.

Contact

Please direct any questions regarding this announcement to:

Søren Boe Mortensen, CEO, tel. +45 35 47 79 07, or Susanne Biltoft,
Communications Director, tel. +45 35 47 76 61.