The program is in accordance with the authorisation granted to the Board by the Annual General Meeting of Storebrand ASA ("the AGM") on 4. April 2024. Based on renewed permission from the general meeting, Storebrand applied to the Norwegian Financial Supervisory Authority (NFSA) for NOK 1.1 billion in share buybacks to be completed by the end of 2024. The approval was received on 19 April 2024.

In accordance with the authorisation from the AGM, the minimum price that can be paid per share is NOK 5, and the maximum price is NOK 150. According to the AGM resolution, the maximum numbers of own shares that can be held by the company is limited to 44 797 268. Current holdings will be reduced by 17 525 185 in the second quarter as a result of the redemption approved by the General Meeting on 4 April 2024. Thus, the maximum number of shares the company can purchase under the program is 39 736 751 shares.

The purpose of the share buyback program is to return excess capital to shareholders by reducing the share capital of the company. The shares repurchased under the buyback program will be redeemed (i.e. cancelled), subject to approval by the AGM in 2025. According to Storebrand's capital management framework, the Board intends to buy back shares when the solvency margin is above 175 percent.

The share buyback program will be carried out by way of repurchases in the market. Storebrand has entered into a non-discretionary agreement with a third party that will make its trading decisions independently of, and uninfluenced by, Storebrand. Transactions will be conducted in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and Commission Delegated Regulation (EU) No 2016/1052 ("Safe Harbour Regulation") as further set out i.a. with the Norwegian Securities Trading Act of 2007 and the Oslo Stock Exchange's Guidelines for buy-back programs and price stabilisation dated February 2021.

Transactions will be reported on a weekly basis.

Lysaker, 24. April 2024