Topdanmark — AGM Information 2014

Apr 10, 2014

10 April 2014
Announcement No. 06/2014

The Annual General Meeting was held in accordance with the published agenda,
and the Annual Report including the proposal submitted by the Board of
Directors for the appropriation of the result for the financial year was
adopted.

The AGM adopted the proposal submitted by the Board of Directors to amend
Article 16(1) of the Articles of Association to the effect that the previous
provision stipulating that people who are employed by or work for another
competing company are not eligible, has been deleted.

Furthermore, the AGM adopted the proposal submitted by the Board of Directors
to reduce the Company's share capital by a total of 10,000,000 own shares. The
reduction in share capital will be at a stock market price of DKK 144.74 per
share, and a total of DKK 1,447,395,298 will be transferred from the Company's
tied-up capital to its free reserves.

After the final implementation of the reduction, the share capital will be DKK
115,000,000.

Finally, the AGM adopted the proposal submitted by the Board of Directors to
increase the remuneration paid to the Chairman of the Audit Committee and to
change the remuneration policy of the Topdanmark Group accordingly.

Jens Maaløe retired from the Board of Directors. Torbjörn Magnusson was elected
as a new member of the Board of Directors. All the other Board members elected
at the AGM ? Anders Colding Friis, Birgitte Nielsen, Michael Pram Rasmussen,
Annette Sadolin and Søren Thorup Sørensen ? were re-elected.

The Board of Directors elected Michael Pram Rasmussen as Chairman and Søren
Thorup Sørensen as Deputy Chairman from among its members.

The Company's auditor, Deloitte, Statsautoriseret Revisionspartnerselskab, was
re-elected.

Topdanmark's profit forecast model for 2014 continues to be DKK 950-1,050m (see
announcement No. 03/2014) subject to an annual 7.0% return on equities and
unchanged foreign exchange rates from the level on 21 February 2014.
Furthermore, it is assumed that the return on interest-bearing assets hedging
the discounted provisions is just sufficient to cover discounting and
revaluation of the provisions, while the return on the remaining
interest-bearing assets is assumed to be 2.31% (risk-free interest rate plus
2.0pp).

The expected share buy-back for 2014 also remains unchanged at DKK 1,700m. At 9
April 2014 Topdanmark had bought back own shares of DKK 447m, which leaves a
balance of DKK 1,253m of the 2014 programme.

Please direct any queries to:
Steffen Heegaard, Group Communications and IR Director
Mobile +45 4025 3524

Topdanmark A/S
Reg. No. 78040017
Borupvang 4
2750 Ballerup