Storebrand ASA - Capital/Financing Update 2015

Storebrand ASA: Storebrand Livsforsikring AS successfully issues NOK 1,000 million perpetual subordinated bonds

Storebrand Livsforsikring AS has successfully placed NOK 1,000 million perpetual

subordinated bonds, with a coupon of 3M Nibor + 3.05 per cent. The bonds provide

for an optional call by Storebrand Livsforsikring AS on 17 March 2020, and an

optional or mandatory deferral of interest under certain circumstances. The

bonds will qualify as available solvency capital under the prevailing European

regulatory capital regime for insurers and are also intended to qualify as Tier

2 capital under future European regulatory capital requirements for insurers

(Solvency II). The bonds will be applied for listing on Oslo Børs.

The proceeds of the issue will be used to refinance Storebrand Livforsikring AS'

existing subordinated bond issue with ISIN NO0010521628.

Danske Bank Markets, DNB Markets and Nordea Markets acted as Joint Lead Managers

for the bond issue.

Lysaker, 4 March 2015

For further information:

Sigbjørn Birkeland, Finance Director Storebrand, telephone +47 934 80 893

Lars Kramer, VP Capital Management Storebrand, telephone +47 900 68 287

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