STOREBRAND ASA: Letter of Intent signed with Knif

29 Jan 2026 09:00 CET

Storebrand ASA («Storebrand») has signed a Letter of Intent (LOI) with Knif AS
("Knif") and Knif Trygghet Forsikring AS for a long-term strategic partnership.
Pursuant to the LOI, the parties will explore a merger between Knif Trygghet
Forsikring AS and Storebrand Forsikring AS, combined with a broader strategic
partnership among Storebrand, Knif and Knif's affiliated parties.

"We are looking forward to exploring the opportunities in a strategic
partnership with Knif. The aim of this is to create a market-leading and
comprehensive offering to non-profit and volunteer organisations," says Vivi
Måhede Gevelt, EVP in Storebrand.

Knif is owned by 64 organisations within the Christian and non-profit sector.
The company's value proposition is to create benefits for the Christian and non
-profit sector through procurement agreements and other services. Knif Trygghet
Forsikring AS is a specialised insurance company for the Christian sector,
voluntary and non-profit organisations as well as their employees and members.
Knif Trygghet Forsikring AS had portfolio premiums of approximately NOK 800
million as of the fourth quarter in 2025. According to the latest figures from
Finance Norway, Storebrand has a 5.7 percent share of the market for non-life
insurance for the private and corporate sectors, while Knif Trygghet Forsikring
AS has a share of 0.6 percent.

Any definite agreement between the parties will be subject to further
negotiations and the completion of a due diligence process. The potential
transaction is also conditional on approvals from the Norwegian Financial
Supervisory Authority (Finanstilsynet), the Norwegian Competition Authority
(Konkurransetilsynet) and the relevant boards of Storebrand and Knif. A
potential merger between Storebrand Forsikring AS and Knif Trygghet Forsikring
AS is not expected to have a material impact on the solvency ratio, liquidity
position or financial results of the Storebrand Group.

Storebrand will disclose any further information in accordance with its
applicable disclosure obligations.

Lysaker, 29 January 2026

For further enquiries, please contact:
Johannes Narum, Head of Investor Relations:
johannes.narum@storebrand.no or (+47) 993 33 569

Media enquiries:

Stig-Øyvind Blystad, Director of Communications:
stig-oyvind.blystad@storebrand.no or (+47) 918 47 226
Aleksander Hannisdal, Head of Financial and Strategic Communication:
aleksander.hannisdal@storebrand.no or (+47) 98 04 39 36

About Storebrand
Storebrand is a Nordic financial group that provides economic security and
freedom for individuals and businesses. We aim to offer sustainable solutions
and inspire our customers to make sound financial choices for the future:
together, we create a future to look forward to. Storebrand has approximately
61,000 corporate customers, 2.6 million individual customers, and manages
NOK 1,561 billion in assets. The Group's head office is located at Lysaker
outside Oslo. Storebrand is listed on the Oslo Stock Exchange (STB).

About Knif
Knif is owned by 64 organisations within the Christian and non-profit sector.
The company's value proposition is to create benefits for the Christian and non
-profit sector through procurement agreements and other services. Knif Trygghet
Forsikring AS is a specialised insurance company for the Christian sector,
voluntary and non-profit organisations as well as their employees and members.

More information:
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