NORDEN

ANNOUNCEMENT NO. 46 - 22 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	949,000	112.81	107,057,688
15/2/2021	13,500	120.04	1,620,540
16/2/2021	16,000	121.92	1,950,720
17/2/2021	16,000	123.83	1,981,280
18/2/2021	16,000	124.51	1,992,160
19/2/2021	16,000	123.28	1,972,480
Accumulated	1,026,500	113.57	116,574,868

Since the share buy-back programme was initiated on 4 November 2020, the total number of repurchased shares is 1,026,500 at a total amount of DKK 116,574,868.

With the transactions stated above, NORDEN holds a total of 3,385,967 treasury shares, corresponding to 8.32%. The total number of shares in NORDEN is 40,700,000 million. Adjusted for treasury shares, the number of shares is 37,314,033.

Kind regards,

Dampskibsselskabet NORDEN A/S

Klaus Nyborg

Chairman

For further information:

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

Attachments

• No. 46 Weekly report on share buy-back
• Appendix