TOP Topdanmark A/S

Employee Shares

Employee Shares

Employee Shares

16 September 2019

Announcement no. 12/2019

Topdanmark has decided to allocate employee shares

By direction from the Executive Board, Topdanmark has today decided to offer employee shares to the employees for the period 1 November 2019 to 31 October 2020.

The allotment will be based on a cash salary reduction within the framework of section 7 (P) of the Danish Tax Assessment and will be effected on 26 October 2020.

Those participating in the scheme must be employees of Topdanmark or of subsidiaries directly or indirectly owned by Topdanmark. In order to be allotted employee shares,

the employees must be employed on 1 October 2019 at the latest, must be paid by the month and must be employed at least eight hours per week.

The employees must be employed on the date of share allotment, 26 October 2020.

Topdanmark will be allotting own shares as employees shares. Thus, new issue will not take place.

The number of employee shares included in the scheme will depend on the number of employees accepting the offer. Consequently, it is impossible to determine the number

of shares allotted pursuant to the scheme. The allotment of employee shares will have no impact on the post-tax profit.



Please direct any queries to:

Steffen Heegaard, Group Communications and IR Director

Direct:

Mobile:

Topdanmark A/S

CVR no. 78040017

Borupvang 4

DK-2750 Ballerup

EN
16/09/2019

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