Topdanmark — Share Issue/Capital Change 2011

Nov 28, 2011

28 November 2011
Announcement No. 21/2011

As published in company announcement No. 12/2010 of 28 September 2010,
Topdanmark's Board of Directors decided to allocate employee shares for 2011 in
return for a salary reduction.

It has allocated 68,501 employee shares for 2011.

The allocation was effected on 25 November 2011.

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