STOREBRAND ASA: Negotiated agreement to acquire up to 100 percent of the shares in Knif Trygghet Forsikring AS

11 Jun 2026 11:54 CEST

Reference is made to Storebrand's stock exchange announcement of 29 January 2026
regarding the entry into a letter of intent with Knif AS ("Knif") and Knif
Trygghet Forsikring AS ("Knif Trygghet"). Storebrand ASA has now negotiated an
agreement to acquire up to 100 percent of the shares in Knif Trygghet, a
Norwegian non-life insurer serving the non-profit and voluntary sector, as well
as a partnership agreement with Knif to offer insurance, pension and asset
management products to the market for non-profit and Christian organisations. It
is now up to the owners of Knif and Knif Trygghet to decide whether they wish to
enter into the agreements negotiated by the parties.

- Over time, Knif has built a strong position in its market. For Storebrand,
Knif's customer base, core portfolio, and employees are all valuable and
important. We hope that Knif's owners see the value of merging, and we look
forward to a long and productive collaboration, says Trond Fladvad, CEO of
Storebrand Forsikring AS.
It is now up to the owners behind Knif and Knif Trygghet to decide whether they
wish to accede to the agreements negotiated by the parties.
- If the owners of Knif Trygghet endorse the agreement, we will take good care
of the employees. The employees' unique expertise and the strong customer
relationships Knif has built are an important part of what we wish to carry
forward. It will also be crucial to take good care of Knif's customers, and we
will maintain the insurance coverages, says Fladvad.

The consideration for 100 percent of the shares in Knif Trygghet amounts to NOK
560 million and will be settled entirely in new shares in Storebrand ASA. The
final number of consideration shares will be determined at the time of
completion. The owners behind Knif Trygghet consist of around 50 non-profit and
voluntary organisations, with Knif AS as the largest shareholder. Knif Trygghet
will be merged with Storebrand Forsikring AS following completion of the
transaction. The merger strengthens Storebrand's position within non-life
insurance in the Norwegian corporate and retail markets. The transaction is not
expected to have a material effect on Storebrand's financial position or
results.

Completion of the transaction is conditional upon sufficient accession from the
shareholders of Knif Trygghet and the required approvals from the Financial
Supervisory Authority of Norway and the Norwegian Competition Authority.
Lysaker, 11 June 2026

For further inquiries, please contact:

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

Storebrand is a Nordic financial group, delivering increased security and
financial wellness for people and companies. We offer sustainable solutions and
encourage our customers to take good economic decisions for the future. Our
purpose is clear: we create a brighter future. Storebrand has about 61,000
corporate customers, 2.6 million individual customers and manages NOK 1,543
billion. The Group has its headquarter at Lysaker outside of Oslo, Norway.
Storebrand (STB) is listed on Oslo Stock Exchange.

www.storebrand.no

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