Storebrand (STB) Investor Update summary

Strategic positioning and business overview

• Operates as a leading Nordic financial group with strong positions in pensions, savings, and asset management, managing NOK 655 billion in pensions and NOK 1.3 trillion in total assets under management.

• Maintains over 50,000 corporate and 2 million individual customers, with a growing digital retail bank and insurance business.

• Pursues a strategy focused on occupational pensions, asset management leadership, and retail market growth in Norway and Sweden.

Financial performance and growth

• Achieved double-digit growth in non-guaranteed business areas for the past decade, with continued acceleration expected.

• Shifted business mix from guaranteed to savings and insurance, reducing guaranteed premiums from 50% to 20% while doubling total premiums.

• Targets over NOK 5 billion in group profit for next year, ROE above 14%, and annual share buybacks of NOK 1.5 billion through 2030.

Capital, liquidity, and bond issuance

• Maintains low leverage and strong liquidity, further strengthened by upstreaming funds, dividend payouts, share buybacks, and the sale of Storebrand Health Insurance for NOK 1.3 billion.

• Plans to issue a new NOK 500 million senior unsecured bond with 3-5 year maturity to diversify debt structure.

• Customer buffers in guaranteed portfolios at record levels, with expected running yield of 4.4% versus a 2.9% guarantee.

• Solvency ratio at 191%, supporting predictable dividends and share buybacks.