Storebrand ASA (OB:STB) commences share repurchases on April 25, 2024, under the program mandated by the shareholders in the Annual General Meeting on April 4, 2024. As per the mandate, the company is authorized to repurchase up to 44,797,268 shares, representing 9.62% of its issued share capital for a nominal value of NOK 223.99 million, provided that the number of shares repurchased and the shares held in treasury shall not exceed 10% of the share capital at any given time. The minimum and maximum amount that may be paid per share will be NOK 5 per share and NOK 150 per share. The purpose of program is to acquire treasury shares for fulfilment of the company?s obligations under the group?s share purchase program and long-term incentive schemes for employees. The shares repurchased pursuant to this authorization can also be used as consideration for the acquisition of other businesses, for subsequent sale or redemption by a write-down of the share capital through treasury shares being deleted. The share repurchase program will be valid till December 31, 2025. As of March 12, 2024, the company had 465,497,866 issued shares and 20,873,472 treasury shares.

On April 19, 2024, the company initiated a Market Repurchase after receiving approval from Norwegian Financial Supervisory Authority. The program will commence after the release of the first quarter result for 2024.

On April 24, 2024, the company announced that it will repurchase up to NOK 1,100 million worth of its shares. The purpose of the share buyback program is to return excess capital to
shareholders by reducing the share capital of the company. The program will commence from today and will be valid till December 20, 2024.