Storebrand ASA — Major Shareholding Notification 2014

Feb 26, 2014

Gjensidige Forsikring ASA (OSE:GJF) sells 90,458,254 shares in Storebrand ASA

Gjensidige Forsikring ASA (OSE:GJF) sells 90,458,254 shares in Storebrand ASA

Oslo, 26 February 2014

Reference is made to the stock exchange notice

published by Gjensidige Forsikring ASA ("Gjensidige")

on 25 February 2014 regarding the potential sale of

up to 90,458,254 shares in Storebrand

ASA "Storebrand").

Gjensidige has today sold or agreed to sell its

holding in Storebrand of 90,458,254 shares in

Storebrand, representing 20.11% of the share

capital and voting rights in the company, by way of

an accelerated bookbuilt offering to institutional

investors. The shares were sold at a price of NOK

36.00 per share, representing a discount of 3.1% to

the closing price on 25 February 2014. Following the

completion of the sale, Gjensidige will not hold any

shares in Storebrand.