The issued warrants vest over three years and are granted annually starting in 2023. The exercise price of the first year's grant is set at DKK 24.53 per share, corresponding to the average closing price in the period from 30 October to 24 November 2023.

The warrants are issued in accordance with the authorisation in the company's articles of association § 4b(2).

The theoretical market value of one warrant granted is on average DKK 8.81 (calculated according to the Black Scholes theoretical value). The main assumptions for the calculation are a share price of DKK 24.4 (as of 27 November 2023), an average exercise price of DKK 24.53, volatility of 47.81% and a risk-free interest rate of 3.5%.

Vested warrants can be exercised in periods of four weeks from the day after the publication of the company's annual report, half-year report or quarterly report, respectively.