NORDEN

ANNOUNCEMENT NO. 40 - 15 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	876,000	112.62	98,652,698
08/2/2021	10,000	117.27	1,172,700
09/2/2021	15,000	113.98	1,709,700
10/2/2021	15,000	113.47	1,702,050
11/2/2021	17,000	115.42	1,962,140
12/2/2021	16,000	116.15	1,858,400
Accumulated	949,000	112.81	107,057,688

Since the share buy-back programme was initiated on 4 November 2020, the total number of repurchased shares is 949,000 at a total amount of DKK 107,057,688.

With the transactions stated above, NORDEN holds a total of 3,308,467 treasury shares, corresponding to 8.13%. The total number of shares in NORDEN is 40,700,000 million. Adjusted for treasury shares, the number of shares is 37,391,533.

Kind regards,

Dampskibsselskabet NORDEN A/S

Klaus Nyborg

Chairman

For further information:

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

Attachments

• No. 40 Weekly report on share buy-back
• Appendix