Gjensidige Forsikring ASA

Gjensidige Forsikring ASA: Successful issuance of Restricted Tier 1 and Subordinated Tier 2 bond issues

With reference to the announcement dated 22 March 2021, Gjensidige Forsikring

ASA ("Gjensidige") has today successfully completed issuance of a Restricted

Tier 1 bond issue and a Subordinated Tier 2 bond issue, both in the amount of

NOK 1,200 million. The Restricted Tier 1 bond has a perpetual tenor with a first

call for Gjensidige after 5 years and will have a floating rate coupon of 3M

NIBOR + 2.25% p.a. The Subordinated Tier 2 bond has a tenor of 30 years with

first call option for Gjensidige after 5.5 years and will have a floating rate

coupon of 3M NIBOR + 1.10% p.a. Both issues are Solvency II compliant and have

been authorised by Gjensidige's General Meeting, and are approved by the

Norwegian Financial Supervisory Authority. Settlement of the bonds is expected

to be 7 April 2021. The bonds will be applied for listing on Euronext Oslo Børs.

DNB Markets and Pareto Securities acted as joint lead arrangers.

For further information, please contact:

Mitra Hagen Negård, Head of Investor Relations, tel. +47 957 93 631.

This information is subject to disclosure under the Norwegian Securities Act

section §5-12.

Gjensidige is a leading Nordic insurance group listed on the Oslo Stock

Exchange. We have about 3,700 employees and offer insurance products in Norway,

Denmark, Sweden and the Baltic states. In Norway, we also offer pension and

savings. The Group's operating income was NOK 28 billion in 2020, while total

assets were NOK 118 billion.

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