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

ANNOUNCEMENT NO. 94 - 16 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	34,000	103.34	3,513,560
09/11/2020	17,000	103.75	1,763,750
10/11/2020	17,000	104.11	1,769,870
11/11/2020	17,000	104.97	1,784,490
12/11/2020	18,000	105.28	1,895,040
13/11/2020	18,000	105.70	1,902,600
Accumulated	121,000	104.37	12,629,310

Since the share buy-back programme was initiated on 4 November 2020, the total number of repurchased shares is 121,000 at a total amount of DKK 12,629,310.

With the transactions stated above, NORDEN holds a total of 2,480,467 treasury shares, corresponding to 6.09%. The total number of shares in NORDEN is 40,700,000 million. Adjusted for treasury shares, the number of shares is 38,219,533.

Kind regards,

Dampskibsselskabet NORDEN A/S

Klaus Nyborg

Chairman

For further information:

Klaus Nyborg, Chairman, tel.: +45 3315 0451
Anne-Louise Dam-Rasmussen, Head of Communications, tel.: +45 3273 0624

Attachments

• No. 94 Weekly report on share buy-back

• Appendix