Columbus — Share Issue/Capital Change 2015

Nov 6, 2015

                          Release no. 17/2014

To strengthen Columbus A/S’s results and value creation for the company’s
share­holders, and to attract, retain and motivate senior executives, the Board
of Directors has decided to exercise the authorization in Art. 5 in the
Company’s Articles of Association and grant warrants amounting to a total value
of DKK 3,825,000 (nom.) to senior executives in Columbus A/S.

The issue of warrants is in accordance with the Company’s guidelines for
incentive programs which were adopted at the Company’s Annual General Meeting
on 25 April 2015.

The exercise price is based on the average quoted share price in the 3 trading
days prior to the grant date.

The share warrants are granted to senior executives and other senior employees
contingent on employment in the company in the below-mentioned vesting periods.

The share warrant scheme will not be adjusted in the event of changes in
capital.

Share warrants based on employment and EBITDA:

Period Right to subscribe shares at Conditions
DKK 1.25 (nom.) per share

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January 1st 2016 – 1,020,000 shares at DKK 5.45 Employment in Columbus A/S
December 31st 2016: per share at December 31st 2016
January 1st 2017 – 1,020,000 shares at DKK 5.45 Employment in Columbus A/S
December 31st 2017: per share at December 31st 2017
January 1st 2018 – 1,020,000 shares at DKK 5.45 Employment in Columbus A/S
December 31st 2018: per share at December 31st 2018

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If all warrants are exercised, the total capital increase will amount to DKK
1,245,000 (nom.), corresponding to 3,060,000 shares of DKK 1.25.

The exercise periods are scheduled to the first 14 days after publication of
the company’s first financial statements succeeding expiry of the relevant
vesting periods. The first exercise period is scheduled to the first 14 days
after publication of the company’s financial statements for 2016. The second
exercise period is scheduled to the first 14 days after publication of the
company’s financial statements for 2017. The third exercise period is scheduled
to the first 14 days after publication of the company’s financial statements
for 2018.

On the basis of Black & Scholes’ calculation, the total market value forecast
of the scheme is up to DKK 2.8m which will be expensed in 2016, 2017 and 2018.

Following the grant DKK 4,930,000 of the nominal value will remain of the
Board’s authorization to issue warrants.

Ib Kunøe Thomas Honoré

Chairman CEO & President

Columbus A/S Columbus A/S

For further information, please contact:

CEO Thomas Honoré, T: +45 70 20 50 00.

Translation: In the event of any inconsistency between this document and the
Danish language version, the Danish language version shall be the governing
version.