Storebrand ASA - Capital/Financing Update 2020

STOREBRAND LIVSFORSIKRING AS: SUCCESSFUL ISSUANCE OF NEW TIER 2 BONDS

Storebrand Livsforsikring AS has today successfully issued a new 30NC5 NOK

500,000,000 subordinated Tier 2 bond issue with a coupon of 3M Nibor + 2.05

percentage points.

The maturity date for the issue is 19 June 2050 and the issuer has a first call

option after 5 years on 19 June 2025.

The bonds will qualify as Tier II capital under the European Solvency II

regulatory capital regime for insurers.

The settlement date for the bond issue is 19 June 2020, and the bonds will be

applied for listing at Oslo Børs. The new issue is approved by the company's

general meeting and by the Norwegian FSA ("Finanstilsynet").

Nordea and Swedbank acted as Joint Lead Managers.

For further information, please contact:

Kjetil R. Krøkje, Group Head of Finance, Strategy and M&A, telephone +47 934

12 155

Nikola Heitmann, Head of Capital Management, telephone +47 416 97 236

This information is subject to disclosure requirements pursuant to §5-12 of the

Norwegian Securities Trading Act.

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