Storebrand ASA — Capital/Financing Update 2014

May 12, 2014

Storebrand Livsforsikring AS redeem subordinated notes

Storebrand Livsforsikring AS redeem subordinated notes

Storebrand Livsforsikring AS has decided to redeem NOK 1 700,000,000

Floating Rate Perpetual Subordinated Notes (ISIN: NO0010440829). The

Notes will be redeemed at their principal amount on 27 June 2014.

The Issuer has obtained the consent of the Financial Supervisory

Authority of Norway ("Finanstilsynet") for such redemption.

For information, please contact:

Sigbjørn Birkeland, Finance Director, +47 934 80 893

Lars Kramer, Vice President Capital Management, +47 900 68 287