In the agenda for the general assembly posted in the company announcement no. 18/2025 (March 17, 2025), we received feedback from investors regarding item 6.c, noting potential governance issues with a high authorisation to issue new shares. The board and management acknowledge these points and therefore propose extending the current authorisation by four years, until 27 January 2030.

Find the current authorisation from the Articles of Association below:

3.1 
The Board of Directors is by unanimous resolution authorised to increase the share capital by up to nominally DKK 137,063, by one or more issues, with preemption rights for the Company's present shareholders against cash contribution, see however § 3.3. Cash contribution must be paid in full at the share subscription. The authorisation is valid up to and including 27 January 2026. 

3.2
The Board of Directors is by unanimous resolution authorised to increase the share capital by up to nominally DKK 137,063, by one or more issues, without preemption rights for the Company's present share holders, see however § 3.3. New shares that are offered without preemption rights for the present shareholders, must be subscribed for at market price. The share capital may be increased against cash contribution, debt conversion or as consideration in connection with the Company's acquisition of one or more existing companies. New shares that are offered against cash contribution, must be paid in full at the share subscription. The authorisation is valid up to and including 27 January 2026.

3.2.1
On 23 April 2021, the Board of Directors resolved to exercise its authorisation under Article 3.2 and issue 187,500 new shares, each nominally DKK 0.02, in the Company without preemptive rights for existing shareholders with a total nominal value of DKK 3,750. As a result, the authorisation under Article 3.1 and 3.2 is considered reduced by nominally DKK 3,750 to nominally DKK 133,313. 

3.3
The Board of Directors' authorisations according to § 3.1 and 3.2 can altogether as a maximum be exercised to increase the share capital by a total nominal value of DKK 137,063. For capital increases pursuant to § 3.1 and 3.2 applies that the new shares will be issued as registered shares. The shares must be negotiable instruments and must additionally in every aspect be identical with the existing shares, including with regard to preemption rights at future in creases, rights, redemption and transferability. The Board of Directors decides with regard to the time of subscription or conversion to what extend the holders of the new shares will be entitled to receive dividend for the year in which subscription or conversion take place. The Board of Directors furthermore determines the conditions in details for capital in creases which are implemented according to § 3.1 and 3.2 and is authorised to make the necessary changes in the articles of association of the Company as a consequence of the utilisation of the authorisations.