Topdanmark — Director's Dealing 2015

Feb 26, 2015

26 February 2015
Trading report No. 04/2015

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 options
Trade date: 24 February 2015
Market: Nasdaq OMX, Copenhagen
Number: 20,000
Share price in DKK: 4,466,600

Name: Christian Sagild
Reason: CEO
Issuer: Topdanmark A/S
ISIN code: DK0060477503
Designation: Shares
Transaction: Sale
Trade date: 26 February 2015
Market: Nasdaq OMX, Copenhagen
Number: 50,000
Share price in DKK: 11,105,000

Name: Lars Thykier
Reason: CFO
Issuer: Topdanmark A/S
ISIN code: DK0060477503
Designation: Shares
Transaction: Exercise of options
Trade date: 24 February 2015
Market: Nasdaq OMX, Copenhagen
Number: 36,080
Share price in DKK: 8,057,746

Name: Lars Thykier
Reason: CFO
Issuer: Topdanmark A/S
ISIN code: DK0060477503
Designation: Shares
Transaction: Sale
Trade date: 26 February 2015
Market: Nasdaq OMX, Copenhagen
Number: 39,580
Share price in DKK: 8,790,718

Name: Kim Bruhn-Petersen
Reason: COO
Issuer: Topdanmark A/S
ISIN code: DK0060477503
Designation: Shares
Transaction: Exercise of options
Trade date: 24 February 2015
Market: Nasdaq OMX, Copenhagen
Number: 36,080
Share price in DKK: 8,057,746

Name: Kim Bruhn-Petersen
Reason: COO
Issuer: Topdanmark A/S
ISIN code: DK0060477503
Designation: Shares
Transaction: Sale
Trade date: 26 February 2015
Market: Nasdaq OMX, Copenhagen
Number: 36,080
Share price in DKK: 8,013,368

Please direct any queries to:
Lars Thykier, CFO,
Mobile: +45 2141 0479

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