Company announcement no 24/2020 ISIN: DK0030406152 – Idavang A/S EUR 85,000,000 Floating Rate Senior Secured Bonds due 2021

ISIN: DK0030406152 – Idavang A/S EUR 85,000,000 Floating Rate Senior Secured Bonds due 2021

NOTICE OF EARLY REDEMPTION

Idavang A/S (the "Issuer") hereby gives notice to all bondholders of the EUR 85,000,000 Floating Rate Senior Secured Bonds due 2021 with ISIN DK0030406152 issued by the Issuer (the "Bonds"), of a voluntary early redemption of all the Bonds in accordance with Clause 10.2 (Voluntary early redemption - Call Option) of the bond terms for the Bonds (the "Redemption").

Unless otherwise defined in this notice, all words and expressions defined in the bond terms for the Bonds shall have the same meaning in this notice.

The Call Option Repayment Date for the Redemption will be 12 November 2020 and the Relevant Record Date for the Redemption will be 12 November 2020.

The Bonds will be redeemed at 101,95 per cent. of the Nominal Amount plus accrued but unpaid interest from and including the preceding Interest Payment Date up to, but excluding, the Call Option Repayment Date. The redemption amount will be disbursed to each person who is registered on a securities account as a direct registered owner or a nominee with respect to a Bond at end of business on the Relevant Record Date in the Securities Depository maintained by VP Securities A/S.

This notice is irrevocable and is governed by Danish law. This notice is for information purposes only and is not to be construed as an offer to purchase or sell or a solicitation of an offer to purchase or sell with respect to any securities of the Issuer. Following the Redemption, the Bonds will be delisted from Nasdaq Copenhagen A/S.

Further information

Bondholders - Claus Baltsersen, CEO phone +370 (685) 34 104

Attachment

• Company announcement no 24 2020 Idavang AS early redemption