Change in management          To Nasdaq

To Nasdaq OMX Copenhagen A/S

Public announcement no. 434

February 12, 2019

CHANGE IN GROUP MANAGEMENT

Following the public announcement no. 432 dated January 24^th, 2019 announcing the resignation received from CEO René Normann Christensen, the Board of Directors has agreed to release René Normann Christensen from his duties and responsibilities as CEO as of February 28^th, 2019.

The Board of Directors expresses their appreciation of the significant contribution that René Normann Christensen has contributed with to Glunz & Jensen.

The Board of Directors also announces that a search process has been initiated to identify and to appoint the new CEO.

Meanwhile the Board of Directors have appointed CFO Henrik Blegvad Funk as interim CEO.

For further information:

Chairman of the Board Carsten Knudsen, +4521464236