Schouw & Co. share buy-back programme, week 37 2025

On 5 May 2025, Schouw & Co. initiated a share buy-back programme as outlined in
Company Announcement no. 20 of 2 May 2025. Under the programme, Schouw & Co.
will acquire shares for up to DKK 120 million during the period 5 May to 31
December 2025.

The buy-back will be structured in accordance with Regulation (EU) No. 596/2014
of the European Parliament and of the Council of 16 April 2014 on market abuse
(MAR) and the Commission's delegated regulation (EU) 2016/1052 of 8 March 2016
("Safe Harbour" rules).

No. of Average
Trading day shares price Amount
----------------------------------------------------------------------------
Accumulated until 5 September
2025 122,500 597.07 73,140,885
----------------------------------------------------------------------------
Monday, 8 September 2025 1,200 602.19 722,628

Tuesday, 9 September 2025 1,200 600.21 720,252

Wednesday, 10 September 2025 1,200 603.69 724,428

Thursday, 11 September 2025 1,000 609.70 609,700

Friday, 12 September 2025 1,000 602.85 602,850
----------------------------------------------------------------------------
In the period 8 September
2025 - 12 September 2025 5,600 603.55 3,379,858
----------------------------------------------------------------------------
Accumulated until 12
September 2025 128,100 597.35 76,520,743
----------------------------------------------------------------------------


Following the above transactions, Schouw & Co. holds a total of 2,170,093
treasury shares corresponding to 8.68% of the total share capital of
25,000,000 shares.

Aktieselskabet Schouw & Co.

Jørgen Dencker Wisborg, Chairman
Jens Bjerg Sørensen, President, telephone number +45 86 11 22 22