Share savings scheme 2023 for employees of the Gjensidige Group and subscription from primary insider employees

19 Dec 2022 16:33 CET

The Board of Gjensidige Forsikring ASA has decided to continue the share savings
scheme for employees. Through the scheme, the company offers employees of the
company, its branches in Denmark and Sweden and subsidiaries in Norway to buy
shares in the company. The purpose of the scheme is to increase interest among
employees for the company's goals and performance through owning shares. The
scheme is also part of the company's strategy of motivating, rewarding and
retaining employees. The Board wishes the scheme to become a permanent part of
the company's employee incentive scheme. The general meeting will nevertheless
consider the acquisition of shares every year and thereby decide whether to
continue the scheme.

The offer
For 2023, the company will offer a share savings scheme based on a maximum
annual savings amount (NOK/SEK/DKK 90,000) that is financed by a monthly
deduction from salary. The company will contribute with 25 percent of the agreed
yearly amount invested, limited upwards to NOK 7,500 per year. After two years
of ownership, and provided the person is still employed with Gjensidige, the
company will allocate one bonus share for every fourth share bought in
connection with this offer. The purchase of shares will take place through DNB
on the day or days following publication of the interim accounts. The first
purchase will take place after the publication of the 1st quarter 2023 interim
report. The purchase price and the number of shares acquired by the company will
be reported in accordance with the applicable regulations. Employees will be
allocated shares at the purchase price, adjusted for the discount.

Subscription
Attached to this release is primary insiders' subscription in the share savings
scheme for 2023. The subscribed amount disclosed is the total amount for 2023.
The purchase price and the number of shares will be reported each time
allocation has been made.

Background
At the annual general meeting on 24 March 2022, the general meeting authorised
the Board to acquire shares on behalf of the company. Shares purchased in
accordance with the authorisation can, among other things, be used for sale and
transfer to employees of the Gjensidige Group as part of the Group's share
savings scheme as approved by the Board, or to executive employees in accordance
with the remuneration regulations and the pay policy adopted by the Board. The
authorisation is valid until the next annual general meeting, however no longer
than until 30 June 2023.

This information is subject to disclosure under the Norwegian Securities Act
section §5-12.

Contact details, Gjensidige Forsikring ASA:

Head of Investor Relations: Mitra H. Negård, Tel: +47 957 93 631

Head of Communication: Øystein Thoresen, Tel: +47 952 33 382

Gjensidige is a leading Nordic insurance group listed on the Oslo Stock
Exchange. We have about 3,800 employees and offer insurance products in Norway,
Denmark, Sweden and the Baltic states. In Norway, we also offer pension and
savings. The Group's operating income was NOK 30 billion in 2021, while total
assets were NOK 130 billion.

More information:
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578649_Attachment_primary_subscription_share_savings_schemes_2023.pdf