Storebrand ASA

Capital/Financing Update • Dec 6, 2022

IIIA: STOREBRAND LIVSFORSIKRING AS ANNOUNCES FINAL RESULTS OF TENDER OFFER

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA) (the "United States") OR TO ANY U.S. PERSON (AS DEFINED IN THE TENDER OFFER MEMORANDUM (AS DEFINED BELOW)) OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014.

6 December 2022 - On 28 November 2022, Storebrand Livsforsikring AS (the "Issuer") launched its invitation to holders of its €300,000,000 Fixed/Floating Rate Dated Subordinated Notes due 2043 (the "Notes") to tender any and all of such Notes for purchase by the Issuer for cash (such invitation, the "Offer"). The Offer was made on the terms and subject to the conditions contained in the tender offer memorandum dated 28 November 2022 (the "Tender Offer Memorandum") and was subject to the offer restrictions described in the Tender Offer Memorandum. Capitalised terms used and not otherwise defined in this announcement have the meanings given to them in the Tender Offer Memorandum.

Further to such invitation, the Issuer hereby informs the Noteholders that, as of the Expiration Deadline for the Offer (being 17.00 hours (CET) on 5 December 2022), the aggregate principal amount of Notes validly tendered by Noteholders and to be accepted for purchase is as set out in the table below. Each such Noteholder is entitled to receive on the Settlement Date (being 8 December 2022) the Purchase Consideration plus any Accrued Interest Payment.

Results of the Offer

Description of Notes / ISIN / Aggregate Principal Amount of Notes validly tendered and accepted for purchase / Aggregate Principal Amount remaining outstanding

EUR 300,000,000 Fixed/Floating Rate Dated Subordinated Notes due 2043 (Current Coupon: 6.875 per cent. per annum) / XS0909773268 / EUR 211,847,000/ EUR 38,155,000

The Offer remains subject to the conditions and restrictions set out in the Tender Offer Memorandum.

The Offer has now expired and no further Notes can be tendered for purchase.

All Notes repurchased pursuant to the Offer will be cancelled.

Full details concerning the Offer are set out in the Tender Offer Memorandum.

-- DEALER MANAGER --

J.P. Morgan SE (+44 20 7134 2468 / liability\_management\_EMEA@jpmorgan.com)

-- TENDER AGENT --

Kroll Issuer Services Limited (+44 20 7704 0880 / storebrand@is.kroll.com / https://deals.is.kroll.com/storebrand)

Questions and requests for assistance in connection with (i) the Offers may be directed to the Dealer Managers; and (ii) the delivery of the

Tender Instructions may be directed to the Tender Agent, the contact details for each of which are set out above.

DISCLAIMER: THIS ANNOUNCEMENT MUST BE READ IN CONJUNCTION WITH THE TENDER OFFER MEMORANDUM. NO OFFER OR INVITATION TO ACQUIRE OR SELL ANY SECURITIES IS BEING MADE PURSUANT TO THIS ANNOUNCEMENT. THE DEALER MANAGER DOES NOT TAKE RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT AND/OR THE TENDER OFFER MEMORANDUM. THE DISTRIBUTION OF THIS ANNOUNCEMENT AND THE TENDER OFFER MEMORANDUM IN CERTAIN JURISDICTIONS MAY BE RESTRICTED BY LAW. PERSONS INTO WHOSE POSSESSION THIS ANNOUNCEMENT AND/OR THE TENDER OFFER MEMORANDUM COME INTO ARE REQUIRED BY EACH OF THE ISSUER, THE DEALER MANAGER AND THE TENDER AGENT TO INFORM THEMSELVES ABOUT, AND TO OBSERVE, ANY SUCH RESTRICTIONS.