Storebrand ASA - Capital/Financing Update 2019

Storebrand Bank ASA: Successful issuance and buybacks of AT1 and subordinated Tier 2 bonds

Reference is made to the recent stock exchange notice announcing potential

issuance and buy back of AT1 and subordinated Tier 2 bonds. Storebrand Bank ASA

has issued a new additional Tier 1 bond of NOK 125 million, with a coupon equal

to 3 months Nibor + 3,75 percentage points. The additional Tier 1 bond has a

perpetual tenor, with the first call option after 5 years. The bank has in

addition issued a new dated subordinated Tier 2 bond of NOK 125 million with a

coupon equal to 3 months Nibor + 1,78 percentage points. The bond has a tenor of

11 years, with the first call option after 6 years. The additional Tier 1 and

subordinated Tier 2 issues will be sought listed on Nordic ABM and the

settlement date will be 27 February 2019.

The bank has also bought back NOK 29.9 million in the outstanding loan

(NO0010714322), at 3 months NIBOR + 0,50 percentage points. This equals a price

of 101.04. The remaining outstanding bonds amount to NOK 45.1 million. Finally,

NOK 69.5 million in the outstanding loan (NO0010714314) has also been bought

back at 3 months Nibor + 0,25 percentage points. This equals a price of 100.51.

The remaining outstanding bonds amount to NOK 55.5 million. Both buy backs have

settlement 27 February 2019.

The issues are approved by the general meeting in the bank and approval for the

above mentioned transactions was given by the Norwegian FSA 19 December 2018.

Danske Bank and Swedbank Norge acted as arrangers.

Contact information:

Einar A. Leikanger, Head of Treasury, Storebrand Bank ASA, tel.: +47 93420379

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.

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