S&P Global Ratings ("S&P") has today announced that they have upgraded their ratings on Storebrand on ongoing profitable growth and improved financial strength. In their press release, they state the following:

- We raised our long-term issuer credit and insurer financial strength ratings on Storebrand Livsforsikring AS to 'A' from 'A-' and the long term issuer credit rating on Storebrand ASA to 'BBB+' from 'BBB'.

- We also raised the tier 2 subordinated issue ratings to 'BBB+' from 'BBB' and the additional tier 1 (AT1) issue rating to 'BBB' from 'BBB-'.

- The stable outlook reflects our expectation that Storebrand will continue to maintain its capital and balance sheet strength and profitable growth in diverse operations.

Additionally, S&P has upgraded Storebrand Bank's long-term issuer credit rating to 'A' from 'A-' and the short-term issuer credit rating to 'A-1' from 'A-2'.

Lysaker, 14 June 2022

Contact person:

Head of Investor Relations & Rating, Daniel Sundahl:
daniel.sundahl@storebrand.no or (+47) 913 61 899

http://publish.ne.cision.com//Release/ViewReleaseHtml/07D66B92DFBB9EEBE0C856B0705FC7D6

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