Storebrand ASA: Silver - Approval from NFSA

The Norwegian Financial Supervisory Authority has today consented to the solution proposed by Silver Pensjonsforsikring AS Under Public Administration ("Silver") and the portfolio transfer to Storebrand Livsforsikring AS ("Storebrand") consisting of paid up policies with investment choice. The approval comes after the Silver customers on December 11 approved the solution by the criteria set by the board of Silver under public administration.

The remaining insurance contracts in Silver shall be transferred to Storebrand as part of the acquisition of Silver. This acquisition assumes a separate public approval, which is expected to be determined in January 2018.

The transaction is expected to be completed during January/February 2018. For further information please refer to statement issued 24 October 2017.

Lysaker, 19 December 2017

Contact persons/media inquiries:

Head of Investor Relations, Kjetil Ramberg Krøkje:

kjetil.r.krokje@storebrand.no or (+47) 934 12 155

Acting Communications Director, Jan Otto Risebrobakken:

Jan.otto.risebrobakken@storebrand.no or (+47) 480 82 602

Storebrand's ambition is to be the best provider of saving for pensions. Storebrand will deliver sustainable solutions adapted to the customer's individual situation, so that each person receives a better pension in a more sustainable world. Storebrand has about 40.000 corporate customers and 1.9

million individual customers, and is headquartered in Lysaker outside of Oslo, Norway. Storebrand manages more than NOK 620 bn and is Norway's largest asset manager. We work hard to reach our vision: Recommended by our customers. Storebrand (STB) is listed on Oslo Stock Exchange.

Visit us at www.storebrand.no and follow us on twitter: @Storebrand_no