Storebrand ASA - Capital/Financing Update 2021

Storebrand Livsforsikring AS: Successful issuance of new green bonds

Storebrand Livsforsikring AS, rated A- by S&P, has today successfully issued a

new 30.5NC10.5 EUR 300 million green subordinated bond issue with a fixed coupon

of 1,875% p.a. The maturity date for the bonds is 30 September 2051 and the

issuer has a first call option on 31 March 2031.

The green bonds will qualify as Tier 2 capital under the European Solvency II

regulatory capital regime for insurers and is expected to be rated BBB by S&P.

The settlement date for the bond issue is 31 March 2021, and the company will

apply for the bonds to be listed on Euronext Dublin. The new issue is approved

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

The transaction was substantially oversubscribed.

BNP Paribas, Danske Bank and J.P. Morgan acted as Joint Bookrunners, and J.P.

Morgan acted as Sole Green Structuring Agent to the Issuer.

Lysaker, 24 March 2021

For further information, please contact:

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

12 155

Einar Leikanger, Head of Treasury, telephone +47 934 20 379

This information is subject to disclosure under the Norwegian Securities Act

section §5-12.

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