Tryg — Capital/Financing Update 2016

May 19, 2016

Tryg

To NASDAQ Copenhagen

Announcement no. 14 - 2016

19 May 2016

Tryg Forsikring A/S completes new bond issue in the Swedish market

In accordance with the mandate announced in company announcement no. 12 of 9 May 2016, Tryg Forsikring A/S has entered into an agreement to issue Solvency II compliant Tier 2 capital in the form of a subordinated callable bond issue in the amount of SEK 1bn (approximately DKK 800m). The bond issue was targeted primarily at Swedish institutional investors and it was 1.4x oversubscribed.

The bond issue has a maturity of 30 years. The interest rate has be set to 3 months STIBOR plus a margin of 2.75% during the first 10 years and interest payments will be made quarterly. The margin for the interest rate payable after 10 years will be set to 3.75%. After 5 years and any interest payment date thereafter, Tryg Forsikring A/S has the option to redeem the bond issue at par. The bond issue is expected to be listed on the Oslo Stock Exchange in H2 2016.

The bond issue is part of optimisation of Tryg's capital structure.

Additional information:

For further information, please contact:

• Investor Relations Officer Gianandrea Roberti on +45 20 18 82 67 or gianandrea.roberti@tryg.dk
• Investor Relations Manager Peter Brondt on +45 22 75 89 04 or peter.brondt@tryg.dk

Tryg is the second-largest insurance company in the Nordic region with activities in Denmark, Norway and Sweden. Tryg provides peace of mind and value for 2.7 million customers on a daily basis. Tryg is listed on NASDAQ Copenhagen and 60% of the shares are held by TryghedsGruppen smba. TryghedsGruppen, annually, contributes around DKK 500m to peace of mind purposes via TrygFonden.

Tryg | Klausdalsbrovej 601 | DK-2750 Ballerup

+45 70 11 20 20 | www.tryg.dk

Tryg Forsikring A/S | CVR No.24260666