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.