15 February 2016
Announcement No. 12/2016

On 11 February 2016, Topdanmark announced a buy-back programme of up to DKK
300m in its company announcement No. 10/2016. The buy-back programme will be
executed in accordance with the European Commission’s Regulation No. 2273/2003
of 22 December 2003, the ”Safe Harbour-regulation”. The share buy-back will be
made in the period from 12 February 2016 to 9 May 2016. 

This buy-back programme is part of an overall buy-back programme of a total of
DKK 1.250m until 23 February 2017. 

The following transactions have been made under the share buy-back programme in
the period of 12 February 2016. 

                                             Number          Average  Transactio
                                          of shares         purchase           n
                                                         price (DKK)       value
                                                                           (DKK)
--------------------------------------------------------------------------------
12 February 2016                             55,000           147.38   8,105,900
--------------------------------------------------------------------------------
Total accumulated in the period              55,000           147.38   8,105,900
--------------------------------------------------------------------------------
Total accumulated under the buy-back         55,000                    8,105,900
 programme                                                                      
--------------------------------------------------------------------------------

Following the transactions stated above, Topdanmark’s holding of own shares is
10,995,000 shares, corresponding to 10.47% of the share capital. 

Please direct any queries to:
Lars Thykier, CFO
Direct tel: +45 4474 3714



Topdanmark A/S
Reg.No. 78040017
Borupvang 4
2750 Ballerup