DAMPSKIBSSELSKABET NORDEN A/S – WEEKLY REPORT ON SHARE BUY-BACK

ANNOUNCEMENT NO. 106 - 30 NOVEMBER 2020

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	197,000	105.60	20,802,538
23/11/2020	14,000	109.61	1,534,540
24/11/2020	14,000	110.42	1,545,880
25/11/2020	13,000	109.16	1,419,080
26/11/2020	14,000	110.47	1,546,580
27/11/2020	14,000	111.86	1,566,040
Accumulated	266,000	106.82	28,414,658

Since the share buy-back programme was initiated on 4 November 2020, the total number of repurchased shares is 266,000 at a total amount of DKK 28,414,658.

With the transactions stated above, NORDEN holds a total of 2,625,467 treasury shares, corresponding to 6.45%. The total number of shares in NORDEN is 40,700,000 million. Adjusted for treasury shares, the number of shares is 38,074,533.

Kind regards,

Dampskibsselskabet NORDEN A/S

Klaus Nyborg

Chairman

For further information:

Klaus Nyborg, Chairman, tel.: [phone]

Attachments

• No. 106 Weekly report on share buy-back
• Appendix