Storebrand ASA - Capital/Financing Update 2023

Storebrand Livsforsikring AS: Successful issuance of Restricted Tier 1 capital

Storebrand Livsforsikring AS, rated A by S&P, refers to the announcement on 25

October 2023 and the company has today issued perpetual Restricted Tier capital

which was substantially oversubscribed, and is split in the following three

tranches:

. NOK 300 million with a floating rate coupon equal to 3

months NIBOR + 3.45% p.a.

. NOK 300 million with a fixed rate coupon of 7.63% p.a.

. SEK 400 million with a floating rate coupon equal to 3

months STIBOR + 3.45% p.a.

The bonds will be Solvency II compliant, and all tranches have a first-time call

option for the company 5 years after the settlement date on 2 November 2023, and

are expected to be rated BBB by S&P.

The issuance is approved by the company's General Meeting and by the Norwegian

Financial Supervisory Authority.

DNB Markets and Nordea acted as Joint Lead Managers.

Oslo, 26 October 2023

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 the disclosure requirements pursuant to Section 5

-12 the Norwegian Securities Trading Act.

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