MINUTES OF ANNUAL GENERAL MEETING 2021 - Seite 2

The General Meeting unanimously resolved to insert the following authorization as a new clause 7.5 in the Company's articles of association:

"The board of directors is until 14 April 2026 authorized to resolve, in one or more times, on increasing the company's share capital by issuance of new shares with up to nominal DKK 6,000,000 with pre-emptive subscription rights for the company's shareholders. Capital increases according to this authorization shall be carried out by the board of directors by way of cash contributions. The shares may be issued at or below market price as determined by the board of directors."

"For shares issued pursuant to clause 7.5 the following shall apply: The new shares shall be negotiable instruments issued in the name of the holder and registered in the name of the holder in the company's register of shareholders. The shares shall not have any restrictions as to their transferability and no shareholder shall be obliged to have the shares redeemed fully or partly. No partial payment shall be allowed. The shares shall have the same rights as the existing share capital and shall not belong to a specific share class. The shares shall give rights to dividends and other rights in the company from the time of registration of the capital increase with the Danish Business Authority."

8.                   Authorization to increase the share capital without pre-emptive subscription rights

The General Meeting resolved with the required majority to insert the following authorization as a new clause 7.6 in the Company's articles of association:

"The board of directors is until 14 April 2026 authorized to resolve, in one or more times, on increasing the company's share capital by issuance of new shares with up to nominal DKK 2,700,000 without pre-emptive subscription rights for the company's shareholders. Capital increases according to this authorization can be carried out by the board of directors by way of contributions in kind, conversion of debt and/or cash contributions. The shares may be issued at or below market price as determined by the board of directors."