Topdanmark — Director's Dealing 2014

Mar 11, 2014

11 March 2014
Trading report No. 02/2013

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: DK0060477503
Designation: Shares
Transaction: Exercise of call options
Trade date: 7 March 2014
Market: Nasdaq OMX, Copenhagen
Number: 69,000
Share price in DKK: 10,822,650

Name: Christian Sagild
Reason: CEO
Issuer: Topdanmark A/S
ISIN code: DK0060477503
Designation: Shares
Transaction: Sale
Trade date: 11 March 2014
Market: Nasdaq OMX, Copenhagen
Number: 89,000
Share price in DKK: 13,746,050

Name: Lars Thykier
Reason: CFO
Issuer: Topdanmark A/S
ISIN code: DK0060477503
Designation: Shares
Transaction: Exercise of call options
Trade date: 7 March 2014
Market: Nasdaq OMX, Copenhagen
Number: 24,140
Share price in DKK: 3,786,359

Name: Lars Thykier
Reason: CFO
Issuer: Topdanmark A/S
ISIN code: DK0060477503
Designation: Shares
Transaction: Sale
Trade date: 11 March 2014
Market: Nasdaq OMX, Copenhagen
Number: 94,140
Share price in DKK: 14,539,923

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

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