2 January 2009 Trading report No. 01/2009 In accordance with Section 28(a) of the Danish Securities Trading Act, Topdanmark is required to publish details of the transactions in Topdanmark's shares and related securities effected by senior management and their connected persons. The following has been reported to Topdanmark: Name: Poul Almlund Reason: CEO Issuer: Topdanmark A/S ISIN code: 1025953 Designation: Shares Transaction: Purchase of options Trade date: 2 January 2009 Market: OMX Nordic Exchange, Copenhagen Number.: 12,276 Share price in DKK: 1,219,000 Name: Christian Sagild Reason: Group Managing Director Issuer: Topdanmark A/S ISIN code: 1025953 Designation: Shares Transaction: Purchase of options Trade date: 2 January 2009 Market: OMX Nordic Exchange, Copenhagen Number.: 13,900 Share price in DKK: 1,380,000 Name: Kim Bruhn-Petersen Reason: Group Managing Director Issuer: Topdanmark A/S ISIN code:1025953 Designation: Shares Transaction: Purchase of options Trade date: 2 January 2009 Market: OMX Nordic Exchange, Copenhagen Number.: 10,500 Share price in DKK: 1,042,000 The share price has been calculated using the Black and Scholes model assuming a share price of DKK 692.31, an interest rate equivalent to the zero coupon rate based on the swap curve of 29 December 2008, future annual volatility of 20%, corporation tax of 25% and a pattern of exercise similar to Topdanmark's previous allocations of share options. Please direct any queries to: Steffen Heegaard, Head of IR and Group Communications Mobile: +45 4025 3524