Gjensidige Forsikring ASA

Capital/Financing Update • Jun 29, 2023

GJF, GJF01, GJF03, GJF04: S&P affirms A ratings on Gjensidige and revises outlook to stable; BBB+ rating on tier 2 debt and BBB rating on restricted tier 1 subordinated debt affirmed

GJF, GJF01, GJF03, GJF04: S&P affirms A ratings on Gjensidige and revises outlook to stable; BBB+ rating on tier 2 debt and BBB rating on restricted tier 1 subordinated debt affirmed

S&P affirms ratings on Gjensidige and its listed bonds. Outlook revised to

stable from positive as S&P expects that management will seek to maintain

flexibility and thus not commit to holding capital beyond its targeted A level

over the next two to three years. Please see appendix for detailed information.

Contact persons, Gjensidige Forsikring ASA:

Head of Investor Relations Mitra Hagen Negård, Tel: +47 957 93 631

Investor Relations Officer: Marius Michelsen Fjellbo, Tel: +47 995 67 593

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

Exchange. We have about 4,200 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 34 billion in 2022, while total

assets were NOK 135 billion.