Notice to convene the annual general meeting in FirstFarms A/S - Seite 2

Ad 4               The Board of Directors recommends that the remuneration to the Board of Directors for 2020 is changed, compared to 2019, so the chairman of the Board of Directors is yearly receiving DKK 240,000, the vice- chairman and the chairman of the audit committee each receive DKK 120,000 yearly and other members of the Board of Directors is receiving DKK 100,000.
Ad 5               All board members are up for election. Bent Juul Jensen does not run for re-election. The Board of Directors thus proposes re-election of Henrik Hougaard, Jens Bolding Jensen and Asbjørn Børsting and proposes 2 new members into the Board of Directors Karina Boldsen and Bendt Wedell. Leadership tasks of Henrik Hougaard, Jens Bolding Jensen and Asbjørn Børsting can be found in the annual report 2019, whereas leadership tasks of Karina Boldsen and Bendt Wedell can be found on the company’s website www.firstfarms.com.

Ad 6               The Board of Directors recommends re-election of PricewaterCoopers as the company’s auditor.

Ad 7.a.1 Proposal to authorise the Board of Directors to issue warrants and to carry out the related capital increase

The Board of Directors proposes that the Board of Directors is authorized to in one or more stages until 28 April 2025 to issue warrants which entitle to subscribe up to 100,000 shares of DKK 10, i.e. up to nominal DKK 1,000,000 shares and to carry out the related capital increase.

The proposal is substantiated in a wish for flexibility to in a reasonable extent to be able to offer incentive payment to the company’s employees.

Proposal to a new article 5.2.C in the Articles of Association:

“The Company’s Board of Directors is according to the Company’s Act section 169, cf. section 155 authorised to in one or more stages in the period until 28 April 2025 to issue warrants, which entitle to subscribe up to 100,000 shares of DKK 10, i.e. nominal DKK 1,000,000 shares. The Board of Directors is at the same time authorised to carry out the related capital increase. The warrants can be issued in favor of the company’s management and to other employees and to employees in the company’s subsidiaries. Thus, the existing shareholders shall not have pre-emptive rights. The Board of Directors determines the procedures for the allocation and issuance of the warrants, as the Board of Directors is authorised to issue warrants below the market price.”