NORDEN

ANNOUNCEMENT NO. 32 - 8 FEBRUARY 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	802,000	112.37	90,124,698
1/2/2021	20,000	113.26	2,265,200
2/2/2021	18,000	115.93	2,086,740
3/2/2021	14,000	116.50	1,631,000
4/2/2021	12,000	115.83	1,389,960
5/2/2021	10,000	115.51	1,155,100
Accumulated	876,000	112.62	98,652,698

Since the share buy-back programme was initiated on 4 November 2020, the total number of repurchased shares is 876,000 at a total amount of DKK 98,652,698.

With the transactions stated above, NORDEN holds a total of 3,235,467 treasury shares, corresponding to 7.95%. The total number of shares in NORDEN is 40,700,000 million. Adjusted for treasury shares, the number of shares is 37,464,533.

Kind regards,

Dampskibsselskabet NORDEN A/S

Klaus Nyborg

Chairman

For further information:

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

Attachments

• No. 32 Weekly report on share buy-back
• Appendix