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Regulatory press release

Gjensidige Forsikring ASA: Successful issuance of Subordinated Tier 2 capital

Gjensidige Forsikring
With reference to the announcement dated 18 September 2023, Gjensidige
Forsikring ASA ("Gjensidige") has today successfully completed issuance of a NOK
1,200 million Subordinated Tier 2 bond issue, which was significantly
oversubscribed.

The Subordinated Tier 2 bond will have a floating rate coupon equal to 3 months
NIBOR + 2.25% p.a., and have a tenor of 30.25 years with a first call option for
Gjensidige after 5 years.

The Tier 2 issue is Solvency II compliant and the issuance has been authorized
by Gjensidige's General Meeting and approved by the Norwegian Financial
Supervisory Authority.

Settlement of the bonds is expected to be 26 September 2023, and the bonds will
be applied for listing on Euronext Oslo Børs.

DNB Markets and Pareto Securities acted as joint lead arrangers.

For further information, please contact:
Mitra Hagen Negård, Head of Investor Relations, tel. +47 957 93 631

This information is subject to disclosure under the Norwegian Securities Act
section §5-12.

Gjensidige is a leading Nordic insurance group listed on the Oslo Stock
Exchange. We have approximately 4,200 employees and offer insurance products in
Norway, Denmark, Sweden and the Baltic states. In Norway, Gjensidige also
offers pension and savings. The Group's operating income was NOK 34 billion in
2022, while total assets were NOK 135 billion.
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