Storebrand ASA: Postponed regulatory approval of previously announced transaction in SPP

In a press release dated 20 March 2013, Storebrand announced that SPP, a subsidiary of Storebrand, has signed an agreement to sell SPP Liv Pensionstjänst AB to KPA Pension. Under the agreement, the administration associated with SPP's municipal customers will be transferred to KPA Pension. The agreement also includes the transfer of approximately NOK 1.2 billion from SPP's guaranteed portfolios to KPA Pension.

The deal is subject to regulatory approval from the Swedish Competition Authority. They have notified that they will conduct an extended investigation, implying that an approval will not be present until the autumn. The expected positive result effect, previously communicated, will thus not be booked in the 2ndquarter of 2013.

Lysaker, 14 June 2013

Contacts:

Elin Myrmel-Johansen, Director of Communications, mob +47 934 80 538

Trond Finn Eriksen, Head of Investor Relations, mob. +47 991 64 135