Storebrand ASA - Capital/Financing Update 2020

Storebrand Livsforsikring AS - Mandate announcement (Contemplated issuance of Tier 2 bond)

Storebrand Livsforsikring AS, rated A- (stable) by S&P, has mandated Nordea and

Swedbank Norge as arrangers for a possible new Tier 2 bond issue in NOK. The

bond issue is subject to market conditions.

The contemplated new bond issue (loan) will have a 30 years tenor and minimum 5

years to first call and will be Solvency II compliant (is planned to qualify as

solvency II capital under capital group 2 in solvency II). The proceeds from the

contemplated bond issue will be used for general corporate purposes.

The contemplated new issue is approved by the company's general meeting, and the

new issue is approved by the Norwegian FSA ("Finanstilsynet").

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

MiFID II professionals/ECPs-only - Manufacturer target market (MiFID II product

governance) is eligible counterparties and professional clients only (all

distribution channels).

No PRIIPs key information document (KID) has been prepared as not available to

retail in EEA

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

Norwegian Securities Trading Act.

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