NORDEN

ANNOUNCEMENT NO. 54 - 1. MARCH 2021

On 4 November 2020, NORDEN initiated a share buy-back programme in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and Commission Delegated Regulation (EU) 2016/1052, (Safe Harbour regulation). The share buy-back programme runs from 4 November 2020 up to and including no later than end February 2021. For details please see announcement no. 87 of 4 November 2020.

Under the share buy-back programme, NORDEN will purchase shares for up to a total of USD 20 million (approximately DKK 126 million). Under the programme, the following transactions have been made:

Date	Number of shares	Average purchase price (DKK)	Transaction value (DKK)
Total, last announcement	1,026,500	113.57	116,574,868
22/2/2021	13,000	125.41	1,630,330
23/2/2021	15,000	124.74	1,871,100
24/2/2021	15,000	125.31	1,879,650
25/2/2021	16,000	127.39	2,038,240
26/2/2021	15,300	130.26	1,992,978
Accumulated	1,100,800	114.45	125,987,166

Since the share buy-back programme was initiated on 4 November 2020, the total number of repurchased shares is 1,100,800 (the amount is adjusted for share options for 18,070 shares exercised in connection with the incentive programme in January) at a total amount of DKK 125,987,166 and the share buy-back programme is thus completed.

With the transactions stated above, NORDEN holds a total of 3,442,197 treasury shares, corresponding to 8.46%. The total number of shares in NORDEN is 40,700,000 million. Adjusted for treasury shares, the number of shares is 37,257,803.

Kind regards,

Dampskibsselskabet NORDEN A/S

Klaus Nyborg

Chairman

For further information:

Klaus Nyborg, Chairman, tel.: +45 3315 0451

Attachments

• No. 54 Final weekly report on share buy-back
• Appendix

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