Gjensidige Forsikring ASA contemplates sale of up to 10,000,000 shares in SpareBank 1 SR-Bank ASA

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR IN ANY JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER OF ANY SECURITIES OF SPAREBANK 1 SR-BANK ASA

Gjensidige Forsikring ASA ("Gjensidige") contemplates the sale of up to 10,000,000 shares in SpareBank 1 SR-Bank ASA ("SB1 SR-Bank"), representing 3.9% of the share capital and voting rights. The potential sale is to be conducted by way of an accelerated bookbuilding process. The remaining position will be managed as a pure financial investment in Gjensidige’s investment portfolio.

As of today, Gjensidige owns 12,308,416 shares in SB1 SR-Bank, representing 4.81% of the share capital and voting rights.

The bookbuilding process will commence immediately following the publication of this announcement and may be closed at short notice at the full discretion of the bookrunners. A further announcement will be made following pricing of the sale. Gjensidige reserves the right, at its own discretion, to sell fewer shares or no shares at all.

Gjensidige has engaged Arctic Securities and Pareto Securities as bookrunners.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Contact persons, Gjensidige Forsikring ASA:

Head of Investor Relations: Janne Flessum, Tel: +47 915 14 739

Head of Media Relations: Øystein Thoresen, Tel: +47 952 33 382