Storebrand ASA — M&A Activity 2026

Jun 11, 2026

STOREBRAND ASA: Negotiated agreement to acquire up to 100 percent of the shares in Knif Trygghet Forsikring AS

STOREBRAND ASA: Negotiated agreement to acquire up to 100 percent of the shares in Knif Trygghet Forsikring AS

Reference is made to Storebrand's stock exchange announcement of 29 January 2026

regarding the entry into a letter of intent with Knif AS ("Knif") and Knif

Trygghet Forsikring AS ("Knif Trygghet"). Storebrand ASA has now negotiated an

agreement to acquire up to 100 percent of the shares in Knif Trygghet, a

Norwegian non-life insurer serving the non-profit and voluntary sector, as well

as a partnership agreement with Knif to offer insurance, pension and asset

management products to the market for non-profit and Christian organisations. It

is now up to the owners of Knif and Knif Trygghet to decide whether they wish to

enter into the agreements negotiated by the parties.

- Over time, Knif has built a strong position in its market. For Storebrand,

Knif's customer base, core portfolio, and employees are all valuable and

important. We hope that Knif's owners see the value of merging, and we look

forward to a long and productive collaboration, says Trond Fladvad, CEO of

Storebrand Forsikring AS.

It is now up to the owners behind Knif and Knif Trygghet to decide whether they

wish to accede to the agreements negotiated by the parties.

- If the owners of Knif Trygghet endorse the agreement, we will take good care

of the employees. The employees' unique expertise and the strong customer

relationships Knif has built are an important part of what we wish to carry

forward. It will also be crucial to take good care of Knif's customers, and we

will maintain the insurance coverages, says Fladvad.

The consideration for 100 percent of the shares in Knif Trygghet amounts to NOK

560 million and will be settled entirely in new shares in Storebrand ASA. The

final number of consideration shares will be determined at the time of

completion. The owners behind Knif Trygghet consist of around 50 non-profit and

voluntary organisations, with Knif AS as the largest shareholder. Knif Trygghet

will be merged with Storebrand Forsikring AS following completion of the

transaction. The merger strengthens Storebrand's position within non-life

insurance in the Norwegian corporate and retail markets. The transaction is not

expected to have a material effect on Storebrand's financial position or

results.

Completion of the transaction is conditional upon sufficient accession from the

shareholders of Knif Trygghet and the required approvals from the Financial

Supervisory Authority of Norway and the Norwegian Competition Authority.

Lysaker, 11 June 2026

For further inquiries, please contact:

Johannes Narum, Head of Investor Relations:

johannes.narum@storebrand.no or (+47) 993 33 569

Storebrand is a Nordic financial group, delivering increased security and

financial wellness for people and companies. We offer sustainable solutions and

encourage our customers to take good economic decisions for the future. Our

purpose is clear: we create a brighter future. Storebrand has about 61,000

corporate customers, 2.6 million individual customers and manages NOK 1,543

billion. The Group has its headquarter at Lysaker outside of Oslo, Norway.

Storebrand (STB) is listed on Oslo Stock Exchange.

www.storebrand.no