Topdanmark — Share Issue/Capital Change 2017

Sep 18, 2017

18 September 2017
Announcement No. 24/2017

Topdanmark has decided to allocate employee shares.

By direction from the Executive Board, Topdanmark has today decided to offer
employee shares to its employees for the period 1 November 2017 to 31 October
2018.

The allocation will be based on a cash salary reduction within the framework of
section 7 (P) of the Danish Tax Assessment and will be effected on 26 October
2018. Those participating in the scheme must be employees of Topdanmark or of
subsidiaries directly or indirectly owned by Topdanmark. In order to be
allocated employee shares, the employees must be employed on 1 October 2017 at
the latest, must be paid by the month and must be employed at least eight hours
per week. The employees must be employed on the date of share allocation, 26
October 2018.

Topdanmark will be allocating own shares as employees shares. Thus, new issue
will not take place.

The number of employees included in the scheme will depend on the number of
employees accepting the offer. Consequently, it is impossible to determine the
number of shares allocated due to the scheme. Allocation of employee shares
will have no impact on the post-tax profit.

Please direct any queries to:
Steffen Heegaard, Group Communications and IR Director
Tel: +45 44 74 40 17
Mobile tel: +45 40 25 35 24

Topdanmark A/S
Cvr-nr. 78040017
Borupvang 4
DK-2750 Ballerup