27 March 2009 Trading report No. 03/2009 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: Christian Sagild Reason: Group Managing Director Issuer: Topdanmark A/S ISIN code: 1025953 Designation: Shares Transaction: Subscription by exercise of warrants Trade date: 26 March 2009 Market: Nasdaq OMX, Copenhagen Number: 12,500 Share price in DKK: 6,974,000 Name: Christian Sagild Reason: Group Managing Director Issuer: Topdanmark A/S ISIN code: 1025953 Designation: Shares Transaction: Sale Trade date: 26 March 2009 Market: Nasdaq OMX, Copenhagen Number: 12,500 Share price in DKK: 6,974,000 Pre-tax net gain after strike (DKK): 2,177,625 Name: Kim Bruhn-Petersen Reason: Group Managing Director Issuer: Topdanmark A/S ISIN code: 1025953 Designation: Shares Transaction: Subscription by exercise of warrants Trade date: 26 March 2009 Market: Nasdaq OMX, Copenhagen Number: 1,400 Share price in DKK: 781,088 Name: Kim Bruhn-Petersen Reason: Group Managing Director Issuer: Topdanmark A/S ISIN code: 1025953 Designation: Shares Transaction: Sale Trade date: 26 March 2009 Market: Nasdaq OMX, Copenhagen Number: 1,400 Share price in DKK: 781,088 Pre-tax net gain after strike (DKK): 243,894 Please direct any queries to: Steffen Heegaard, Head of IR and Group Communications Direct tel: +45 4474 4017, Mobile: +45 4025 3524