Storebrand Asset Management has entered into an agreement to acquire Cubera
Private Equity [Cubera]. Cubera is a Nordic firm offering investors exposure to
Nordic private equity primarily through the secondary market. The firm is a
leading player within Nordic private equity and has around NOK 9 billion under
management, mainly from international investors.

- The transaction strengthens our offering to institutional asset management
clients. Storebrand is today the only provider in Norway that includes private
equity in its defined contribution portfolios, says Group CEO Odd Arild
Grefstad.

Storebrand Asset Management is Norway's largest private asset manager with more
than NOK 700 billion under management. Storebrand has more than 20 years of
experience with private equity and more than NOK 19 billion invested globally
for Nordic clients.

- We are building a strong Nordic private equity provider with the largest team
of investment professionals in the region. This complements our private equity
offering, and makes us a natural partner for international clients seeking
investments in the Nordics. This supports our strategy to broaden our
international client base, says EVP Asset Management Jan Erik Saugestad.

Cubera's managing partner Kine Burøy-Olsen looks forward to building a larger
private equity team.

- Cubera and Storebrand International Private Equity is a perfect match. We both
have long experience and deep private equity expertise, but we operate in
different markets and with different investors. Joining forces will strengthen
our position both in the Nordics and internationally. We are proud of what
Cubera has achieved so far and we look forward to exploring the opportunities
arising from this merger, says Burøy-Olsen.

The acquisition is in line with the strategy Storebrand communicated at its
capital markets day in May 2018 - to look for bolt-on acquisitions that
complement our current business to create growth.

- Cubera will be run as a separate company as a part of Storebrand's multi
-boutique platform. Clients demand broader and more diversified investment
offerings and this strengthens our position within alternative investments, says
EVP Asset Management Jan Erik Saugestad.

The transaction will have limited effect on regulatory key figures and the
acquisition will not affect the dividend capacity of Storebrand for the
accounting year 2018. Profits from the company will back the cash generation for
the Storebrand Group going forward. Cubera's adjusted pretax 2018 results are
estimated to be approximately NOK 50 million. The purchase price of the
acquisition is NOK 300 million. The purchase price may increase related to
fundraising to new funds managed by Cubera. The transaction is contingent on
regulatory approvals and certain other customary conditions.

Lysaker, 11 February 2019

Contact

CFO, Lars Aa. Løddesøl:  lars.loddesol@storebrand.no
or (+47) 934 80 151

SVP Communications, Vibeke Hansen: vibeke.hansen@storebrand.no
or (+47) 990 13 349

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 2 million
individual customers, and is headquartered in Lysaker outside of Oslo, Norway.
Storebrand manages NOK 700 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

This information is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.