Topdanmark — Director's Dealing 2012

Aug 29, 2012

29 August 2012
Trading report No. 03/2012

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: Christian Sagild
Reason: CEO
Issuer: Topdanmark A/S
ISIN code: 1025953
Designation: Shares
Transaction: Exercise of call options
Trade date: 24 August 2012
Market: Nasdaq OMX, Copenhagen
Number: 4,000
Share price in DKK: 4,274,200

Name: Christian Sagild
Reason: CEO
Issuer: Topdanmark A/S
ISIN code: 1025953
Designation: Shares
Transaction: Sale
Trade date: 28 August 2012
Market: Nasdaq OMX, Copenhagen
Number: 4,000
Share price in DKK: 4,295,320

Name: Lars Thykier
Reason: CFO
Issuer: Topdanmark A/S
ISIN code: 1025953
Designation: Shares
Transaction: Exercise of call options
Trade date: 24 August 2012
Market: Nasdaq OMX, Copenhagen
Number: 3,600
Share price in DKK: 3,846,780

Name: Lars Thykier
Reason: CFO
Issuer: Topdanmark A/S
ISIN code: 1025953
Designation: Shares
Transaction: Sale
Trade date: 28 August 2012
Market: Nasdaq OMX, Copenhagen
Number: 6,000
Share price in DKK: 6,442,980

Name: Kim Bruhn-Petersen
Reason: COO
Issuer: Topdanmark A/S
ISIN code: 1025953
Designation: Shares
Transaction: Exercise of call options
Trade date: 24 August 2012
Market: Nasdaq OMX, Copenhagen
Number: 3,500
Share price in DKK: 3,739,925

Name: Kim Bruhn-Petersen
Reason: COO
Issuer: Topdanmark A/S
ISIN code: 1025953
Designation: Shares
Transaction: Sale
Trade date: 28 August 2012
Market: Nasdaq OMX, Copenhagen
Number: 3,500
Share price in DKK: 3,758,405

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