Brødrene A & O Johansen A/S (hereinafter referred to as AO) considers good relations with all stakeholders to be a prerequisite for the company’s long-term development and value creation.

The company is therefore focused on ensuring an open and constructive dialogue with a view to building strong relationships with the Group’s stakeholders.

AO considers the following actors to be the most important stakeholders:

• Investors and analysts
• Customers
• Suppliers and other business partners
• Employees
• Creditors
• Public authorities
• Society, media and the press.

Investors and analysts

AO strives to safeguard investors’ interests in the best possible manner by achieving a competitive return, in the short and long term, combined with the necessary management of risk and capital.

AO aims to ensure transparency and a high level of information in the company’s reporting to the stock exchange with an eye on ensuring the best possibilities for a fair pricing of AO’s shares and to satisfy investors’ and analysts’ need for information.

At AO’s website there is a separate IR policy that, in detail, describes the Group’s activities and communication principles in relation to investors. The IR policy is available at https://ao.dk/om-ao/investor-relations/in-english/company-profile/ir-policy_2023.

Customers

One of AO’s core values is "the customer is king”. AO seeks to deliver quality in all aspects in cooperation with the Group’s customers. AO develops strong and loyal customer relations through its interactions with customers and by being a reliable and committed partner.

Focus is therefore on creating good customer experiences, quality service and competent professional advice. AO takes customer feedback and complaints seriously and uses them to ensure a consistently high level of quality.

AO keeps its customers regularly informed about novelties in the Group's range of products and services through  newsletters, information in AO’s stores and the daily customer contact in all parts of the business.

Suppliers and other business partners

AO strives to create mutually beneficial relations with the Group’s suppliers and other business partners by being reliable and committed.

AO wants to be a trustworthy business partner and seeks to establish an open and constructive dialogue when participating in meetings with the Group’s suppliers and other business partners. Received feedback is treated seriously and used constructively by AO in its dealings with all business partners.

Through daily contact with AO's employees, suppliers and other business partners are kept up-to-date on issues concerning the company.

Employees

AO’s employees are the company’s most important asset. Their competencies and commitment are the basis for the company’s development and results.

AO strives to attract and retain qualified employees through good employment conditions and through a focus on personal and professional development, including further training and education.

Employees are regularly kept informed about AO’s vision, strategy and activities through emails, news on the intranet, and information meetings held on a regular basis by their immediate managers.

Creditors

AO focuses on ensuring long-term relations with its banks and other credit institutions through open and ongoing dialogue about the company’s strategy and needs.

AO strives to hold regular meetings with the Group’s creditors to ensure that they are informed about the company’s development and activities, so that AO is viewed as a reliable partner.

Public authorities

AO complies with the legislation and the rules applicable to publicly listed companies listed on Nasdaq Copenhagen A/S.

The company strives to engage in open and constructive communication with public authorities.

Society, media and the press

AO maintains good relations with the surrounding society, through involvement, dialogue and open communication.

Regarding inquiries from the media and press, the company strives to be accommodating and to engage in an open dialogue. AO issues official press statements when needed.

As adopted by the Board of Directors on 8^th December 2022.