Schouw & Co. share buy-back programme, week 38 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
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Accumulated until 12
September 2025 128,100 597.35 76,520,743
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Monday, 15 September 2025 1,000 607.88 607,880

Tuesday, 16 September 2025 1,000 604.95 604,950

Wednesday, 17 September 2025 1,000 604.32 604,320

Thursday, 18 September 2025 1,000 603.92 603,920

Friday, 19 September 2025 1,200 602.20 722,640
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In the period 15 September
2025 - 19 September 2025 5,200 604.56 3,143,710
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Accumulated until 19
September 2025 133,300 597.63 79,664,453
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Following the above transactions, Schouw & Co. holds a total of 2,175,293
treasury shares corresponding to 8.70% 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