Topdanmark — Director's Dealing 2012

Nov 21, 2012

21 November 2012
Trading report No. 04/2012

In accordance with Section 28(a) of the Danish Securities Trading Act,
Topdanmark is required to publish details of the transactions in Topdanmark's
shares and related securities effected by senior management and their connected
persons.

The following has been reported to Topdanmark:

Name: Kim Bruhn-Petersen
Reason: COO
Issuer: Topdanmark A/S
ISIN code: 1025953
Designation: Shares
Transaction: Exercise of call options
Trade date: 16 November 2012
Market: Nasdaq OMX, Copenhagen
Number: 6,430
Share price in DKK: 7,498,730

Name: Kim Bruhn-Petersen
Reason: COO
Issuer: Topdanmark A/S
ISIN code: 1025953
Designation: Shares
Transaction: Sale
Trade date: 20 November 2012
Market: Nasdaq OMX, Copenhagen
Number: 6,430
Share price in DKK: 7,515,834

Please direct any queries to:
Steffen Heegaard, Group Communications and IR Director
Direct tel: +45 4474 4017, Mobile: +45 4025 3524

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