GN Store Nord — AGM Information 2011

Mar 25, 2011

March 25, 2011

ANNOUNCEMENT NO: 11

Annual General Meeting 2011 – GN Store Nord A/S

Today GN Store Nord held its Annual General Meeting (AGM).

The Chairman's Report was adopted and both the Annual Report 2010 and the proposal to distribute dividends of DKK 0.19 per share were approved.

The proposed amendments to the general guidelines for incentive pay to the management were approved. The Board of Directors obtained the requested authorization to acquire treasury shares in the Company for a nominal value of up to 15% of the share capital of the Company and was authorized to increase the share capital in one of more rounds up to a total nominal amount of DKK 205,000,000. The authorization is valid until April 30, 2012, but is renewable for one or more periods of one to five years' duration. Furthermore, the Board of Directors obtained authorization to distribute extraordinary dividend.

The nominated candidates for the Board of Directors Per Wold-Olsen, Jørgen Bardenfleth, René Svendsen-Tune, William E. Hoover, Jr., Carsten Krogsgaard Thomsen and Wolfgang Reim were re-elected by the AGM.

Moreover, it was decided that the total remuneration of the Board of Directors of GN Store Nord A/S will constitute DKK 5,250,000 for 2011.

KPMG was re-appointed as the Company's auditor.

At the following constituting board meeting Per Wold-Olsen was elected Chairman and William E. Hoover, Jr. was elected Deputy Chairman.

Please refer to the agenda on page 2.

For further information, please contact:

Mikkel Danvold VP, IR & Communications

GN Store Nord A/S Tel.: +45 45 75 02 71

• a. Report by the Board of Directors on the activities of the Company during the past year
• b. Submission of the audited annual report for adoption and resolution of discharge of the Board of Directors and the Executive Board
• c. Proposal as to the application of profits in accordance with the approved annual report
• d. Proposal for remuneration to the Board of Directors for the present financial year
• e. Election of members to the Board of Directors
• f. Election of a state-authorised public accountant to serve until the Company's next annual general meeting
• g. Proposals from the Board of Directors and shareholders
• g.1 Proposals from the Board of Directors
• g.1.1 Proposal by the Board of Directors to amend the general guidelines for incentive pay to the management
• g.1.2 Proposal by the Board of Directors in respect of renewal of the authorisation to the Board of Directors to increase the share capital, see Article 5.1 of the Articles of Association
• g.1.3 Proposal by the Board of Directors to authorise the Board of Directors to acquire treasury shares
• g.1.4 Proposal by the Board of Directors to authorise the Board of Directors to distribute extraordinary dividend
• g.1.5 Proposal by the Board of Directors to authorise the chairman of the annual general meeting
• g.2 Proposals from the shareholders There are no proposals made by the shareholders
• h. Any other business.