Schouw & Co. share buy-back programme, week 40 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 26
September 2025 139,800 597.61 83,545,545
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Monday, 29 September 2025 1,400 592.32 829,248

Tuesday, 30 September 2025 1,400 589.67 825,538

Wednesday, 1 October 2025 1,400 593.01 830,214

Thursday, 2 October 2025 1,400 595.75 834,050

Friday, 3 October 2025 1,200 592.20 710,640
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In the period 29 September
2025 - 3 October 2025 6,800 592.60 4,029,690
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Accumulated until 3 October
2025 146,600 597.38 87,575,235
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Following the above transactions, Schouw & Co. holds a total of 2,188,593
treasury shares corresponding to 8.75% 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