Tryg

Capital/Financing Update • Sep 23, 2025

Tryg Forsikring A/S mandates Tier 2 Capital Notes transaction

Tryg Forsikring A/S mandates Tier 2 Capital Notes transaction

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR

INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A

VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

Tryg Forsikring A/S mandates Tier 2 Capital Notes transaction

Tryg Forsikring A/S, rated A1 by Moody's, has mandated Danske Bank and Nordea as

Joint Lead Managers to arrange a Global Investor Call (GIC) and a series of

virtual investor meetings on Tuesday 23 September 2025, and to explore

subsequent issuance of one or more Tier 2 Capital Notes. A NOK- and/or SEK-

denominated FRN with a targeted 30.25NC5.25-year maturity may follow, subject to

market conditions. The Notes are expected to be rated A3 by Moody's.

MIFID II product governance / Professional investors and eligible counterparties

only target market / No PRIIPs KID: The target investors of the Notes are only

eligible counterparties and professional clients (all distribution channels). No

packaged retail and insurance-based investment products ("PRIIPs") key

information document ("KID") has been prepared as the Notes are not available to

retail investors in the European Economic Area or the United Kingdom.

Additional information:

For further information, visit tryg.com tryg.com (https://tryg.com/en) or

contact:

Head of Financial Reporting, Gianandrea Roberti at +45 20 18 82 67 or

gianandrea.roberti@tryg.dk

Head of Investor Relations, Robin H. Løfgren at +45 41 86 25 88 or

robin.loefgren@tryg.dk

This announcement is for information purposes only and is not intended to, and

does not, constitute or form part of any offer or invitation to purchase,

otherwise acquire, subscribe for, sell or otherwise dispose of, any securities,

or the solicitation of any vote or approval in any jurisdiction pursuant to the

Transaction or otherwise in any jurisdiction in which such offer, invitation or

solicitation is unlawful.

This announcement does not constitute a prospectus, prospectus equivalent

document or an exempted document.

This announcement is not for publication or distribution, directly or

indirectly, in or into the United States of America. This announcement is not an

offer of securities for sale into the United States. The securities referred to

herein have not been and will not be registered under the U.S. Securities Act of

1933 (the "US Securities Act"), as amended, and may not be offered or sold in

the United States, except pursuant to an applicable exemption from registration.

No public offering of securities is being made in the United States.

About Tryg

Tryg is one of the largest insurance companies in the Nordic region with

activities in Denmark, Norway and Sweden. Tryg provides peace of mind and value

for more than 6 million customers on a daily basis. Tryg A/S is listed on NASDAQ

Copenhagen and approximately 49% of the shares are held by TryghedsGruppen smba.

TryghedsGruppen, annually, contributes around DKK 700m to peace of mind purposes

via TrygFonden.

Notice to U.S. investors

This announcement does not constitute an offer to sell, or a solicitation of

offers to purchase or subscribe for, securities in the United States. The

securities referred to herein have not been, and will not be, registered under

the US Securities Act, and may not be offered, exercised or sold in the United

States absent registration or an applicable exemption from registration

requirements.

Cautionary note about forward-looking statements

This announcement (including any information incorporated by reference in this

announcement), oral statements made regarding the Transaction, and other

information published by Tryg Forsikring A/S contain statements which are, or

may be deemed to be, "forward-looking statements". Forward looking statements

are prospective in nature and are not based on historical facts, but rather on

current expectations and projections of the management of Tryg Forsikring A/S

about future events, and are therefore subject to risks and uncertainties which

could cause actual results to differ materially from the future results

expressed or implied by the forward-looking statements.

Forward looking statements often use words such as "believe", "expect",

"estimate", "intend", "anticipate" and words of a similar meaning, and phrases

or statements that certain actions, events or results "may", "could", "should",

"would", "might" or "will" be taken, occur or be achieved (or, in each case,

their negative or other variations). You should not place undue reliance on

these forward looking statements, which reflect the current views of Tryg

Forsikring A/S, are subject to risks and uncertainties about Tryg Forsikring A/S

and are dependent on many factors, some of which are outside of Tryg Forsikring

A/S' control. There are important factors, risks and uncertainties that could

cause actual outcomes and results to be materially different. Except as required

by law, Tryg Forsikring A/S undertakes no obligation to publicly update or

revise any forward-looking statements, whether as a result of new information,

future events or otherwise.