Demant — M&A Activity 2010

Nov 22, 2010

Company Announcement No 2010-19 22 November 2010 Extraordinary General Meeting at Otix Global, Inc. approves merger agreement with William Demant Holding

Today, at an Extraordinary General Meeting the stockholders of the publicly listed American hearing aid company Otix Global, Inc. adopted the Board's proposal to merge with a company in the William Demant Holding Group. The adoption of the merger proposal by Otix' Extraordinary General Meeting is happening in continuation of the conclusion of a binding, conditional merger agreement between the parties dated 13 September 2010 – and amended 6 October 2010 and 13 October 2010, respectively.

If all conditions to complete the merger are met the stockholders of Otix will receive, after closing, a total settlement of USD 64.2 million corresponding to approx. DKK 350 million or a price of USD 11.01 per stock. The merger completion is currently only awaiting the US antitrust authorities' approval which the parties expect to receive before end November 2010. Closing is thus still expected to take place before year-end 2010 in accordance with the original announcement.

Further information:

President & CEO Niels Jacobsen, phone +45 39 13 81 55 Senior Vice President, Finance Stefan Ingildsen, mobile +45 29 22 02 70 Vice President, Investor Relations Søren B. Andersson, mobile +45 51 17 66 57

www.demant.com