STOREBRAND ASA: Results for the second quarter 2026

• Group profit [1] of NOK 1,799 million, up 26 percent year-on-year.
• Operating profit of NOK 1,119 million, up 17 percent year-on-year.
• Insurance result of NOK 889 million, combined ratio of 87 percent.
• Return on Equity of 16 percent last twelve months.
• Solvency ratio of 200 percent, share buyback programme of NOK 1 billion initiated today.

"Storebrand delivers record-strong results for the quarter. The operating profit rose 17 percent year-on-year, driven by robust underlying growth in insurance and disciplined cost control across the group. This reflects our sustained focus on efficiency and the dedication of employees who continue to win the trust of new customers. I am also pleased that our long-term work on the balance sheet and capital management has positioned us to capitalise on higher interest rates, as reflected in increased profit sharing and a strong financial result. We have strong momentum and remain on track to deliver on our ambition of NOK 7 billion in profit and a 17 percent return on equity by 2028," says CEO Odd Arild Grefstad.

"I am very pleased that we have signed an agreement for Knif Trygghet Forsikring AS to become part of Storebrand. The company holds a strong position in the market for non-profit and voluntary organisations, with portfolio premiums of around NOK 800 million. This strengthens Storebrand's position within P&C insurance, particularly in the Norwegian corporate market where Knif Trygghet holds a market share of around one percent. Our most important task going forward is to retain the expertise, customer insight and relationships the company has built, so that together we can further develop a strong, comprehensive offering for the benefit of our customers," says Grefstad.

"For Storebrand, sustainability is an integral part of our business strategy and the products we deliver, and our work in this area continues to be internationally recognised. This year, Time Magazine ranked Storebrand among the 50 most sustainable companies in the world. We have also once again been included in the respected Dow Jones Best-in-Class World Index - as the only Scandinavian company in the insurance category. Our customers should feel confident that Storebrand makes responsible choices that help manage and grow value in savings, pension and insurance over time," says Grefstad.

Underlying earnings growth and cost control across the group

Storebrand achieved operating profits of NOK 1,119 million (953 million) in the 2nd quarter, up by 17 percent year-on-year. The result growth is driven by strong underlying development and cost control across the business areas. The insurance segment was a particularly strong contributor, driven by growth and improved profitability.

Fee and administration income amounted to NOK 2,031 million (2,070 million) in the 2nd quarter. The development is attributed to a reversal of performance-based income in asset management, negative currency effects and reduced net interest income in the bank. Assets under management reached a new record of NOK 1,658 billion at the end of the quarter, up 10 percent from the same period last year.

Group operational costs are up 2.8 percent year-on-year, well within the guidance of 5 percent annual cost growth. The satisfactory cost development reflects efficiency measures in the savings segment, where the asset management business cut costs by 12 percent year-on-year, in addition to positive currency effects.

The financial result amounted to NOK 680 million (474 million) in the quarter. Favourable financial markets contributed to solid returns on the company portfolios and increased profit sharing. Group profit increased 26 percent to NOK 1,799 million (1,427 million). The profit after tax increased 19 percent to NOK 1,380 million (1,159 million).

Continued strong growth in retail P&C insurance

It was a strong second quarter for insurance, with the insurance result up 40 percent year-on-year, ending at NOK 889 million (635 million). The growth was primarily driven by the retail market, with volume growth and low claims. The combined ratio in retail ended at 79.9 percent, down 10.3 percentage points year-on-year. Storebrand's market share within retail P&C insurance increased to 8.1 percent, from 7.5 percent the year before [2].

The overall combined ratio for the insurance segment ended at 86.7 percent, down 4.7 percentage points year-on year. Portfolio premiums increased by 12 percent over the same period, to NOK 11.1 billion.

Ongoing share buyback programme with strong capital position

Storebrand's capital position remains strong, with a solvency ratio of 200 percent, well above the threshold for share buybacks of 175 percent.

Storebrand plans to execute NOK 2 billion in share buybacks in 2026, split into two tranches of NOK 1 billion. The first tranche was completed on 30 June. The second tranche starts today, 15 July, and will conclude no later than 18 December this year.

The long-term ambition is to conduct at least NOK 12 billion in share buybacks by the end of 2030, in addition to increasing annual dividends. By the end of the second quarter of 2026, shares totalling NOK 6 billion had been bought back since the share buyback programme was initiated in 2022.

Key figures in the quarter (Q2 2025 in brackets)

• Earnings per share (EPS), adjusted for amortisation: NOK 3.43 (NOK 2.87)
• Equity: NOK 32,606 million (NOK 31,609 million)
• Assets under management (AuM): NOK 1,658 billion (NOK 1,507 billion)
• Return on equity (ROE), trailing twelve months: 16 percent (15 percent)
• Solvency ratio: 200 percent (200 percent)

Activities related to 2nd quarter 2026

07:30 CET: Press release, quarterly report and analyst presentation available on www.storebrand.no/ir.

10:00 CET: Live investor and analyst conference in English. A webcast will be available at www.storebrand.no/ir. The presentation will be available on demand afterwards. Analysts who would like to ask questions at the end of the presentation must register for and participate in the Teams Webinar

Link: https://www.storebrand.no/en/investor-relations/quarterly-reporting/programme

For further inquiries, please contact:

Trond Finn Eriksen, Group CIO: trond.finn.eriksen@storebrand.no or (+47) 991 64 135
Stig-Øyvind Blystad, SVP Group Communications: stig-oyvind.blystad@storebrand.no or (+47) 918 47 226

About Storebrand

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 make 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 1,658 billion. The Group is headquartered at Lysaker outside of Oslo, Norway. Storebrand (STB) is listed on Oslo Stock Exchange. Visit us on www.storebrand.no

This information is pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements in Section 5-12 of the Norwegian Securities Trading Act.

This information is based on the Storebrand Group's alternative income statement and contains Alternative Performance Measures (APM) as defined by the European Securities and Market Authority (ESMA). The alternative income statement is based on reported IFRS results for the individual group companies. The statement differs from the official accounts layout. An overview of APMs used in financial reporting is available on storebrand.com/ir.

[1] Cash equivalent earnings before amortisation and tax. This is an Alternative Performance Measure (APM). This press release contains several APMs, http://www.storebrand.no/ir provides an overview of APMs used in financial reporting.

[2] According to the latest market data from Finance Norway (Q1 2026).