Supreme Court ruling in Denmark on workers' compensation - updated financial impact to be recognised in Q2 2026

12 Jun 2026 12:53 CEST

Reference is made to Gjensidige's stock exchange release of 28 April 2026
regarding the Danish Supreme Court's ruling on a reduction in the compensation
threshold under the workers' compensation scheme.

Following further analysis of the ruling and its potential implications,
Gjensidige has refined its assessment of the financial impact to be recognised
in the second quarter of 2026. The negative impact on the insurance service
result is estimated at DKK 290 million, net of reserve releases. This reflects
claims costs of DKK 490 million and reserve releases of DKK 200 million, both
recognised in the Corporate Centre.

The impact outlined above is expected to reduce the Group's solvency capital
surplus by approximately NOK 330 million in the second quarter of 2026,
primarily due to a reduction in own funds, in addition to a limited increase in
the capital requirement. This is expected to result in an estimated 3 percentage
point reduction in the solvency ratio, according to the approved partial
internal model as at 31 March 2026.

The updated estimate is based on a review of all declined claims over the past
30 years, taking into account Gjensidige's market share in each year. The
estimate remains inherently uncertain due to assumptions about how many claims
may be reopened.

As previously communicated, Gjensidige does not expect the regular dividend for
the 2026 financial year to be affected by the above. Gjensidige also continues
to expect to deliver on its financial targets for 2026.

Contact persons Gjensidige Forsikring ASA:
Head of Investor Relations: Mitra H. Negård, Tel: +47 957 93 631
Media Relations Officer: Christian Haraldsen, Tel: + 47 907 87 449

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