Agenda

1. Election of chairman of the general meeting
2. Proposals from the Board of Directors:
a. Authorization to the Board of Directors re. issuance of convertible debt
b. Authorization to the Board of Directors re. capital increase with pre-emption rights

3. Any other business

The chairman of the Board of Directors, Peter Søndergaard Jensen, welcomed everyone and declared that the Board of Directors had proposed that assistant attorney Rasmus Schou Pedersen was elected as chairman of the meeting.

The chairman of the meeting thanked for the nomination and declared that no objections had been raised against the proposal, for which reason the chairman of the meeting regarded the proposal as adopted.

The chairman of the meeting declared that the general meeting had been convened in accordance with the rules in the Danish Companies Act, the Company's articles of association and the rules for companies listed on Nasdaq First North Growth Market Denmark. The chairman of the meeting then established that the general meeting was duly convened and quorate with regard to the agenda in the notice to convene the general meeting.

At the general meeting, a share capital of nominal DKK 835,171.30 and 8,351,713 votes were represented, corresponding to appx. 69.43 % of the total share capital of nominal DKK 1,202,838.6 and the total number of votes of 12,028,386. The following votes were cast in advance:

4,566,468 votes by proxy to the Board of Directors, 95,677 votes by proxy to the Board of Directors with specific voting instructions from shareholders and 3,689,568 postal votes.

Resolutions of the annual general meeting:

Re 1. Election of chairman of the general meeting

The general meeting appointed Rasmus Schou Pedersen as chairman of the general meeting.

Re 2. Proposals from the Board of Directors

The general meeting took a position on the following proposals from the Board of Directors:

Re 2a. Authorization to the Board of Directors re. issuance of convertible debt

The Board of Directors had proposed that the general meeting authorised the Board of Directors to raise loans in one or more rounds through issuance of convertible loans, which are convertible into shares for up to a total of nominally DKK 900,000 without pre-emption rights for existing investors for a period of 5 years from the date of the extraordinary general meeting under section 155(2) of the Danish Companies Act.

The proposal was adopted by the general meeting unanimously and with all votes present.

The chairman of the general meeting noted that the new article 4.8 in the Company's articles of association will be worded as follows:

Selskabet kan ved The Company may, by resolution of the board of directors,
bestyrelsens raise a loan, in one or more rounds, through the issue of
beslutning ad en loan notes entitling the lender to convert its claim into
eller flere gange shares in the Company that at the time of the exercise of
optage lån mod the authorization must correspond to market value or a
udstedelse af price below market value.
konvertible
gældsbreve, der
giver långiver en
ret til at
konvertere sin
fordring til aktier
i selskabet der på
tidspunktet for
udnyttelse af
bemyndigelsen skal
svare til
markedskurs eller
favørkurs.
Denne bemyndigelse This authorization is valid until 9 August 2028. The loan
gælder indtil 9. must be paid in cash and the other shareholders' pre
august 2028. Lån -emption rights are not to apply.
skal ske ved
kontant indbetaling
uden fortegningsret
for de øvrige
aktionærer.
Selskabskapitalen Under this provision, the share capital may be raised, in
kan i henhold til one or more rounds, by up to nominally DKK 900,000 in
denne bestemmelse total by converting the convertible loan notes issued by
ad en eller flere the Company under the above authorization into shares of
gange forhøjes med nominally DKK 0.10.
op til i alt
nominelt kr.
900.000 ved
konvertering af de
af Selskabet
udstedte
konvertible
gældsbreve til
aktier a nominelt
kr. 0,10 i henhold
til ovennævnte
bemyndigelse.
For de nye aktier For the new shares issued pursuant to this authorization,
udstedt i henhold the following must apply:
til denne · that the pre-emption rights of existing shareholders
bemyndigelse skal are waived and that the lender shall have pre-emption
gælde: rights with respect to the shares that are issued in

• at de connection with the conversion,

eksisterende · that payment must be made in full in connection with
aktionærens conversion of convertible debt, as partial payment is not
fortegningsret feasible,
fraviges og at · that the new shares must be registered with VP
långiver tillægges Securities A/S and carry a right to dividend from the
fortegningsret til time of the registration of the capital increase with the
de aktier, der Danish Business Authority,
udstedes i · that the new shares must be negotiable instruments
forbindelse med and are issued in the name of the holder and is recorded
konverteringen, in the Company's register of shareholders,

• at betaling · that the terms with regards to negotiability and

skal ske fuldt ud redeemability for all other shares applies,
ved konvertering af · that there are no restrictions applying to the new
gæld, idet delvis shareholder's pre-emption rights in connection with any
indbetaling ikke er future capital increase.
muligt,

• at de nye

aktier skal
registreres i VP
Securities A/S og
giver ret til
udbytte fra
tidspunktet for
kapitalforhøjelsens
registrering i
Erhvervsstyrelsen,

• at de nye

aktier skal være
omsætningspapirer
og udstedes som
navneaktier og
noteres i
Selskabets ejerbog,

• at der med

hensyn til
indløselighed og
omsættelighed skal
gælde de samme
regler, der gælder
for de øvrige
aktier, og

• at der ikke

skal gælde
indskrænkninger i
den nye aktionærs
fortegningsret ved
fremtidige
forhøjelser.
Selskabets The board decides on all other matters, e.g. exercise
bestyrelse træffer price, deadline for conversion etc., including an
beslutning om alle authorization for the board of directors to make the
øvrige forhold, fx necessary consequential changes to the articles of
udnyttelseskurs, association in connection with the capital increase
konverteringsfrist implemented subject to a conversion.
med videre,
herunder bemyndiges
bestyrelsen til at
foretage de
nødvendige
konsekvensændringer
til vedtægterne
inklusiv den i
forbindelse med en
konvertering af det
konvertible
gældsbrev hørende
kapitalforhøjelse.

Re 2b. Authorization to the Board of Directors re. capital increase with pre-emption rights

The Board of Directors had proposed that the Board of Directors was authorised to raise the Company's share capital by up to a total of nominally DKK 700,000 with pre-emption rights for existing shareholders for a period until 31 December 2023 from the date of the extraordinary general meeting under section 155 of the Danish Companies Act.

The proposal was adopted by the general meeting.

The chairman of the general meeting noted that the new article 4.9 in the Company's articles of association will be worded as follows:

Bestyrelsen er The Board of Directors is until 31 December 2023
bemyndiget indtil authorized to increase the share capital in one or more
den 31. december stages by up to nominally DKK 700,000 divided into
2023 at træffe 7,000,000 shares of nominally DKK 0.10 each at or below
beslutninger om at market value with pre-emption rights for the existing
forhøje shareholders. Capital increases shall be settled by cash
aktiekapitalen ad payment, contribution in kind or debt conversion.
en eller flere
gange med indtil
nominelt 700.000
kr. fordelt på
7.000.000 aktier á
nominelt kr. 0,10
til favørkurs
eller markedskurs
med fortegningsret
for eksisterende
aktionærer.
Kapitalforhøjelser
kan ske ved
kontant betaling,
apportindskud
eller konvertering
af gæld.

The chairman of the general meeting noted that new shares issued pursuant to the authorization will be subject to the terms in existing article 4.7, i.e. the new shares shall:

• be subject to the same rules as the existing shares of the Company
• be registered in the name of the holder in the Company's register of shareholders
• be negotiable instruments
• be subject to the same rules on pre-emption rights, voting rights and redeemability as the existing shares.

***

The general meeting authorized the chairman of the meeting assistant attorney Rasmus Schou Pedersen (with a right of substitution) on behalf of the Company to apply the Danish Business Authority or other authorities for registration of the resolutions passed by the general meeting and in this connection to make any such amendments to the documents prepared for such resolutions that may be required for registration with the Danish Business Authority or other authorities.

The annual general meeting was adjourned at 15:17 CEST.

As chairman of the meeting:

_________________________

Rasmus Schou Pedersen

Assistant attorney