Alm. Brand — Remuneration Information 2016

Mar 14, 2016

The release of the company's annual report for 2015 has triggered a grant of
share options as part of the group’s share-based remuneration programme for the
Management Board and other members of the group's management team (ABKO). In
compliance with the share option agreements made between the company and the
eligible individuals, a total of 448,084 share options were granted today at an
exercise price of DKK 50.85 per share, calculated as a simple average of the
average price of a share in Alm. Brand A/S on the 5th, 6th and 7th trading day,
respectively, after the release of the annual report plus a premium of 10%.

The share options can be exercised in trading windows after the release of
profit announcements by Alm. Brand A/S in the period from 14 February 2019 to
14 May 2020. The company buys own shares from time to time with a view to
meeting its obligation to deliver shares during the exercise period.

The share options are granted to the eligible individuals as part of their
respective fixed salaries, corresponding to 13% of their fixed salaries. The
valuation of the share options was based on the Black-Scholes model, which, in
addition to the market value of one share in Alm. Brand A/S and the exercise
price as stated above, consists of the annual volatility determined on the
basis of daily observation of the past 12 months' data for transactions on
NASDAQ OMX Copenhagen A/S involving Alm. Brand A/S shares, an expected term of
the options of 36 months and the risk-free rate of interest calculated as the
current rate on euro-denominated interest rate swaps with a term similar to
that of the expected term of the options.

Contact

Please direct any questions regarding this announcement to:

Susanne Biltoft, Head of Information and Investor Relations, tel. +45 35 47 76
61.