33597045 2022-01-01 2022-12-31 33597045 2022-01-01 2022-12-31 0 33597045 2022-01-01 2022-12-31 1 33597045 2022-01-01 2022-12-31 0 33597045 2022-01-01 2022-12-31 1 33597045 2022-01-01 2022-12-31 2 33597045 2022-01-01 2022-12-31 3 33597045 2022-01-01 2022-12-31 4 33597045 2022-01-01 2022-12-31 5 33597045 2022-01-01 2022-12-31 6 33597045 2022-01-01 2022-12-31 7 33597045 2022-01-01 2022-12-31 8 33597045 2021-01-01 2021-12-31 33597045 2022-12-31 33597045 2021-12-31 33597045 2022-01-01 2022-12-31 0 33597045 2021-01-01 2021-12-31 1 33597045 2022-01-01 2022-12-31 2 33597045 2021-01-01 2021-12-31 3 33597045 2022-01-01 33597045 2021-01-01 33597045 2022-01-01 2022-12-31 0 33597045 2022-01-01 2022-12-31 1 iso4217:DKK xbrli:pure Regnskabsklasse C, mellemstor virksomhed 2022-01-01 2022-12-31 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Independent Auditor’s Report</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>To the shareholders of Falck A/S</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Opinion</td></tr><tr><td /><td>In our opinion, the Consolidated Financial</td></tr><tr><td /><td>Statements give a true and fair view of the</td></tr><tr><td /><td>Group’s financial position at 31 December</td></tr><tr><td /><td>2022 and of the results of the Group’s</td></tr><tr><td /><td>operations and cash flows for the financial</td></tr><tr><td /><td>year 1 January to 31 December 2022 in</td></tr><tr><td /><td>accordance with International Financial</td></tr><tr><td /><td>Reporting Standards as adopted by the EU</td></tr><tr><td /><td>and further requirements in the Danish</td></tr><tr><td /><td>Financial Statements Act.</td></tr><tr><td /><td>Moreover, in our opinion, the Parent Company</td></tr><tr><td /><td>Financial Statements give a true and fair view</td></tr><tr><td /><td>of the Parent Company’s financial position at</td></tr><tr><td /><td>31 December 2022 and of the results of the</td></tr><tr><td /><td>Parent Company’s operations for the financial</td></tr><tr><td /><td>year 1 January to 31 December 2022 in</td></tr><tr><td /><td>accordance with the Danish Financial</td></tr><tr><td /><td>Statements Act.</td></tr><tr><td /><td>We have audited the Consolidated Financial</td></tr><tr><td /><td>Statements and the Parent Company</td></tr><tr><td /><td>Financial Statements of Falck A/S for the</td></tr><tr><td /><td>financial year 1 January to 31 December 2022,</td></tr><tr><td /><td>which comprise income statement, statement</td></tr><tr><td /><td>of financial position, statement of changes in</td></tr><tr><td /><td>equity and notes, including a summary of</td></tr><tr><td /><td>significant accounting policies, for both the</td></tr><tr><td /><td>Group and the Parent Company, as well as</td></tr><tr><td /><td>statement of comprehensive income and</td></tr><tr><td /><td>statement of cash flows for the Group</td></tr><tr><td /><td>(“financial statements”).</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Basis for Opinion</td></tr><tr><td /><td>We conducted our audit in accordance with</td></tr><tr><td /><td>International Standards on Auditing (ISAs)</td></tr><tr><td /><td>and the additional requirements applicable in</td></tr><tr><td /><td>Denmark. Our responsibilities under those</td></tr><tr><td /><td>standards and requirements are further</td></tr><tr><td /><td>described in the Auditor’s Responsibilities for</td></tr><tr><td /><td>the Audit of the Financial Statements section</td></tr><tr><td /><td>of our report. We are independent of the</td></tr><tr><td /><td>Group in accordance with the International</td></tr><tr><td /><td>Ethics Standards Board for Accountants’</td></tr><tr><td /><td>International Code of Ethics for Professional</td></tr><tr><td /><td>Accountants (IESBA Code) and the additional</td></tr><tr><td /><td>ethical requirements applicable in Denmark,</td></tr><tr><td /><td>and we have fulfilled our other ethical</td></tr><tr><td /><td>responsibilities in accordance with these</td></tr><tr><td /><td>requirements and the IESBA Code. We believe</td></tr><tr><td /><td>that the audit evidence we have obtained is</td></tr><tr><td /><td>sufficient and appropriate to provide a basis</td></tr><tr><td /><td>for our opinion.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Statement on Management's Review</td></tr><tr><td /><td>Management is responsible for Manage-</td></tr><tr><td /><td>ment’s Review.</td></tr><tr><td /><td>Our opinion on the financial statements does</td></tr><tr><td /><td>not cover Management’s Review, and we do</td></tr><tr><td /><td>not express any form of assurance conclusion</td></tr><tr><td /><td>thereon.</td></tr><tr><td /><td>In connection with our audit of the financial</td></tr><tr><td /><td>statements, our responsibility is to read</td></tr><tr><td /><td>Management’s Review and, in doing so,</td></tr><tr><td /><td>consider whether Management’s Review is</td></tr><tr><td /><td>materially inconsistent with the financial</td></tr><tr><td /><td>statements or our knowledge obtained during</td></tr><tr><td /><td>the audit, or otherwise appears to be</td></tr><tr><td /><td>materially misstated.</td></tr><tr><td /><td>Moreover, it is our responsibility to consider</td></tr><tr><td /><td>whether Management’s Review provides the</td></tr><tr><td /><td>information required under the Danish</td></tr><tr><td /><td>Financials Statements Act.</td></tr><tr><td /><td>Based on the work we have performed, in our</td></tr><tr><td /><td>view, Management’s Review is in accordance</td></tr><tr><td /><td>with the Consolidated Financial Statements</td></tr><tr><td /><td>and the Parent Company Financial State-</td></tr><tr><td /><td>ments and has been prepared in accordance</td></tr><tr><td /><td>with the requirements of the Danish Financial</td></tr><tr><td /><td>Statement Act. We did not identify any</td></tr><tr><td /><td>material misstatement in Management’s</td></tr><tr><td /><td>Review.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Management's Responsibilities for the Financial Statements</td></tr><tr><td /><td>Management is responsible for the prepara-</td></tr><tr><td /><td>tion of Consolidated Financial Statements</td></tr><tr><td /><td>that give a true and fair view in accordance</td></tr><tr><td /><td>with International Financial Reporting</td></tr><tr><td /><td>Standards as adopted by the EU and further</td></tr><tr><td /><td>requirements in the Danish Financial State-</td></tr><tr><td /><td>ments Act and for the preparation of Parent</td></tr><tr><td /><td>Company Financial Statements that give a</td></tr><tr><td /><td>true and fair view in accordance with the</td></tr><tr><td /><td>Danish Financial Statements Act, and for such</td></tr><tr><td /><td>internal control as Management determines is</td></tr><tr><td /><td>necessary to enable the preparation of</td></tr><tr><td /><td>financial statements that are free from</td></tr><tr><td /><td>material misstatement, whether due to fraud</td></tr><tr><td /><td>or error.</td></tr><tr><td /><td>In preparing the financial statements,</td></tr><tr><td /><td>Management is responsible for assessing the</td></tr><tr><td /><td>Group’s and the Parent Company’s ability to</td></tr><tr><td /><td>continue as a going concern, disclosing, as</td></tr><tr><td /><td>applicable, matters related to going concern</td></tr><tr><td /><td>and using the going concern basis of account-</td></tr><tr><td /><td>ing in preparing the financial statements</td></tr><tr><td /><td>unless Management either intends to liquidate</td></tr><tr><td /><td>the Group or the Parent Company or to cease</td></tr><tr><td /><td>operations, or has no realistic alternative but</td></tr><tr><td /><td>to do so.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Auditor's Responsibilities for the Audit of the Financial Statements</td></tr><tr><td /><td>Our objectives are to obtain reasonable</td></tr><tr><td /><td>assurance about whether the financial</td></tr><tr><td /><td>statements as a whole are free from material</td></tr><tr><td /><td>misstatement, whether due to fraud or error,</td></tr><tr><td /><td>and to issue an auditor’s report that includes</td></tr><tr><td /><td>our opinion. Reasonable assurance is a high</td></tr><tr><td /><td>level of assurance, but is not a guarantee that</td></tr><tr><td /><td>an audit conducted in accordance with ISAs</td></tr><tr><td /><td>and the additional requirements applicable in</td></tr><tr><td /><td>Denmark will always detect a material</td></tr><tr><td /><td>misstatement when it exists. Misstatements</td></tr><tr><td /><td>can arise from fraud or error and are consid-</td></tr><tr><td /><td>ered material if, individually or in the aggre-</td></tr><tr><td /><td>gate, they could reasonably be expected to</td></tr><tr><td /><td>influence the economic decisions of users</td></tr><tr><td /><td>taken on the basis of these financial state-</td></tr><tr><td /><td>ments.</td></tr><tr><td /><td>As part of an audit conducted in accordance</td></tr><tr><td /><td>with ISAs and the additional requirements</td></tr><tr><td /><td>applicable in Denmark, we exercise profes-</td></tr><tr><td /><td>sional judgment and maintain professional</td></tr><tr><td /><td>skepticism throughout the audit. We also</td></tr><tr><td /><td>• Identify and assess the risks of material</td></tr><tr><td /><td>misstatement of the financial statements,</td></tr><tr><td /><td>whether due to fraud or error, design and</td></tr><tr><td /><td>perform audit procedures responsive to</td></tr><tr><td /><td>those risks, and obtain audit evidence that</td></tr><tr><td /><td>is sufficient and appropriate to provide a</td></tr><tr><td /><td>basis for our opinion. The risk of not</td></tr><tr><td /><td>detecting a material misstatement resulting</td></tr><tr><td /><td>from fraud is higher than for one resulting</td></tr><tr><td /><td>from error as fraud may involve collusion,</td></tr><tr><td /><td>forgery, intentional omissions, misrepresen-</td></tr><tr><td /><td>tations, or the override of internal control.</td></tr><tr><td /><td>• Obtain an understanding of internal control</td></tr><tr><td /><td>relevant to the audit in order to design audit</td></tr><tr><td /><td>procedures that are appropriate in the</td></tr><tr><td /><td>circumstances, but not for the purpose of</td></tr><tr><td /><td>expressing an opinion on the effectiveness</td></tr><tr><td /><td>of the Group’s and the Parent Company’s</td></tr><tr><td /><td>internal control environment.</td></tr><tr><td /><td>• Evaluate the appropriateness of accounting</td></tr><tr><td /><td>policies used and the reasonableness of</td></tr><tr><td /><td>accounting estimates and related disclo-</td></tr><tr><td /><td>sures made by Management.</td></tr><tr><td /><td>• Conclude on the appropriateness of</td></tr><tr><td /><td>Management’s use of the going concern</td></tr><tr><td /><td>basis of accounting in preparing the</td></tr><tr><td /><td>financial statements and, based on the</td></tr><tr><td /><td>audit evidence obtained, whether a material</td></tr><tr><td /><td>uncertainty exists related to events or</td></tr><tr><td /><td>conditions that may cast significant doubt</td></tr><tr><td /><td>on the Group’s and the Parent Company’s</td></tr><tr><td /><td>ability to continue as a going concern. If we</td></tr><tr><td /><td>conclude that a material uncertainty exists,</td></tr><tr><td /><td>we are required to draw attention in our</td></tr><tr><td /><td>auditor’s report to the related disclosures in</td></tr><tr><td /><td>the financial statements or, if such disclo-</td></tr><tr><td /><td>sures are inadequate, to modify our opinion.</td></tr><tr><td /><td>Our conclusions are based on the audit</td></tr><tr><td /><td>evidence obtained up to the date of our</td></tr><tr><td /><td>auditor’s report. However, future events or</td></tr><tr><td /><td>conditions may cause the Group and the</td></tr><tr><td /><td>Parent Company to cease to continue as a</td></tr><tr><td /><td>going concern.</td></tr><tr><td /><td>• Evaluate the overall presentation, structure</td></tr><tr><td /><td>and contents of the financial statements,</td></tr><tr><td /><td>including the disclosures, and whether the</td></tr><tr><td /><td>financial statements represent the underly-</td></tr><tr><td /><td>ing transactions and events in a manner</td></tr><tr><td /><td>that gives a true and fair view.</td></tr><tr><td /><td>• Obtain sufficient appropriate audit</td></tr><tr><td /><td>evidence regarding the financial information</td></tr><tr><td /><td>of the entities or business activities within</td></tr><tr><td /><td>the Group to express an opinion on the</td></tr><tr><td /><td>Consolidated Financial Statements. We are</td></tr><tr><td /><td>responsible for the direction, supervision</td></tr><tr><td /><td>and performance of the group audit. We</td></tr><tr><td /><td>remain solely responsible for our audit</td></tr><tr><td /><td>opinion.</td></tr><tr><td /><td>We communicate with those charged with</td></tr><tr><td /><td>governance regarding, among other matters,</td></tr><tr><td /><td>the planned scope and timing of the audit and</td></tr><tr><td /><td>significant audit findings, including any</td></tr><tr><td /><td>significant deficiencies in internal control that</td></tr><tr><td /><td>we identify during our audit.</td></tr></table> Hellerup 2023-01-25 Falck A/S 2450 Copenhagen SV Sydhavnsgade 18 4570333311 www.falck.dk 33597045 2023-02-23 Miguel Buxó <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Management’s statement</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">The Board of Directors and the Executive</td></tr><tr><td colspan="1">Committee have today considered and</td></tr><tr><td colspan="1">approved the annual report of Falck A/S</td></tr><tr><td colspan="1">for 2022.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">The consolidated financial statements have</td></tr><tr><td colspan="1">been prepared in accordance with Interna-</td></tr><tr><td colspan="1">tional Financial Reporting Standards which</td></tr><tr><td colspan="1">have been adopted by the EU and additional</td></tr><tr><td colspan="1">requirements under the Danish Financial</td></tr><tr><td colspan="1">Statements Act.</td></tr><tr><td colspan="1">The Parent Company’s financial statements</td></tr><tr><td colspan="1">have been prepared in accordance with the</td></tr><tr><td colspan="1">Danish Financial Statements Act.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">In our opinion, the consolidated financial</td></tr><tr><td colspan="1">statements and the Parent Company’s</td></tr><tr><td colspan="1">financial statements give a true and fair view</td></tr><tr><td colspan="1">of the Group’s and the Parent Company’s</td></tr><tr><td colspan="1">assets, liabilities and financial position at 31</td></tr><tr><td colspan="1">December 2022, and of the results of the</td></tr><tr><td colspan="1">Group’s operations, and the Parent</td></tr><tr><td colspan="1">Company’s operations and the Group’s cash</td></tr><tr><td colspan="1">flows for the financial period 1 January -</td></tr><tr><td colspan="1">31 December 2022.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Furthermore, in our opinion, the Manage-</td></tr><tr><td colspan="1">ment’s review includes a fair review of</td></tr><tr><td colspan="1">developments in the operations and financial</td></tr><tr><td colspan="1">position of the Group and the Parent Com-</td></tr><tr><td colspan="1">pany, the financial results for the year and the</td></tr><tr><td colspan="1">Group’s and the Parent Company’s financial</td></tr><tr><td colspan="1">position, as well as a description of the most</td></tr><tr><td colspan="1">significant risks and elements of uncertainty</td></tr><tr><td colspan="1">facing the Group and the Parent Company.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">We recommend that the annual report is</td></tr><tr><td colspan="1">approved at the Annual General Meeting.</td></tr></table> Copenhagen 2023-01-25 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">management's review</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">governance</td></tr><tr><td colspan="1">The work on corporate governance</td></tr><tr><td colspan="1">is ongoing for the Board of Directors</td></tr><tr><td colspan="1">and the Executive Management,</td></tr><tr><td colspan="1">since Falck is committed to adhering</td></tr><tr><td colspan="1">to current legislation and</td></tr><tr><td colspan="1">recommendations issued by the</td></tr><tr><td colspan="1">Danish Committee on Corporate</td></tr><tr><td colspan="1">Governance, but also to what is</td></tr><tr><td colspan="1">considered prudent corporate</td></tr><tr><td colspan="1">governance principles.</td></tr><tr><td colspan="1">Consequently, at least once a year, the Board</td></tr><tr><td colspan="1">of Directors reviews the Group’s corporate</td></tr><tr><td colspan="1">governance framework and policies in relation</td></tr><tr><td colspan="1">to the Group’s activities, business environment</td></tr><tr><td colspan="1">and the Danish Recommendations on Corpo-</td></tr><tr><td colspan="1">rate Governance.</td></tr><tr><td colspan="1">Falck reports on its corporate governance</td></tr><tr><td colspan="1">compliance in accordance with the “comply</td></tr><tr><td colspan="1">or explain” principle. Since 2020, Falck has</td></tr><tr><td colspan="1">issued an analysis on an annual basis, which</td></tr><tr><td colspan="1">is available on the corporate website</td></tr><tr><td colspan="1">(www.falck.com/about-us/corporategovernance).</td></tr><tr><td colspan="1">In the Comply or explain analysis from 2021,</td></tr><tr><td colspan="1">it was noted that Falck adhered to the Danish</td></tr><tr><td colspan="1">Recommendations on Corporate Governance</td></tr><tr><td colspan="1">apart from one recommendation only. Falck</td></tr><tr><td colspan="1">made a commitment to also meet this</td></tr><tr><td colspan="1">recommendation which states that the</td></tr><tr><td colspan="1">majority of the Remuneration and Nomination</td></tr><tr><td colspan="1">Committee members should be independent.</td></tr><tr><td colspan="1">This was achieved during 2022 with two out of</td></tr><tr><td colspan="1">the three members being independent and</td></tr><tr><td colspan="1">with the Chair as independent. Also, the</td></tr><tr><td colspan="1">composition of the Audit Committee was</td></tr><tr><td colspan="1">changed during 2022. As a result, the Audit</td></tr><tr><td colspan="1">Committee has an equal distribution of</td></tr><tr><td colspan="1">independent and dependent members. In</td></tr><tr><td colspan="1">consequence, the Committee is not considered</td></tr><tr><td colspan="1">to hold a majority of independent members.</td></tr><tr><td colspan="1">Falck will be working towards a majority of the</td></tr><tr><td colspan="1">members of the Audit Committee being</td></tr><tr><td colspan="1">independent.</td></tr><tr><td colspan="1">Governance structure,</td></tr><tr><td colspan="1">board composition and responsibilities</td></tr><tr><td colspan="1">In accordance with Danish legislation, Falck</td></tr><tr><td colspan="1">has a two-tier management system compris-</td></tr><tr><td colspan="1">ing the Board of Directors and the Executive</td></tr><tr><td colspan="1">Committee. There are no overlapping mem-</td></tr><tr><td colspan="1">bers in these two bodies, and members retiring</td></tr><tr><td colspan="1">from the Executive Committee cannot join the</td></tr><tr><td colspan="1">Board of Directors immediately hereafter.</td></tr><tr><td colspan="1">The shareholders have the ultimate authority</td></tr><tr><td colspan="1">of Falck and they may exercise their rights by</td></tr><tr><td colspan="1">passing resolutions at the Annual General</td></tr><tr><td colspan="1">Meeting, the supreme governing body of Falck.</td></tr><tr><td colspan="1">At the Annual General Meeting, the sharehold-</td></tr><tr><td colspan="1">ers elect members to the Board of Directors</td></tr><tr><td colspan="1">and appoint the independent auditor.</td></tr><tr><td colspan="1">The Board of Directors is responsible for the</td></tr><tr><td colspan="1">overall management and strategic direction of</td></tr><tr><td colspan="1">the Group and appoints the members of the</td></tr><tr><td colspan="1">Executive Committee. The Board of Directors</td></tr><tr><td colspan="1">guides and supervises Falck’s activities,</td></tr><tr><td colspan="1">development, management and organisation.</td></tr><tr><td colspan="1">The Board of Directors acts in compliance with</td></tr><tr><td colspan="1">applicable legislation and meets at least seven</td></tr><tr><td colspan="1">times a year or as required by special circum-</td></tr><tr><td colspan="1">stances.</td></tr><tr><td colspan="1">At present, the Board of Directors has nine</td></tr><tr><td colspan="1">members. Six members are elected by the</td></tr><tr><td colspan="1">shareholders and three are elected by the</td></tr><tr><td colspan="1">employees in Denmark. Shareholder-elected</td></tr><tr><td colspan="1">board members serve for terms of one year</td></tr><tr><td colspan="1">and are up for election at the following annual</td></tr><tr><td colspan="1">general meeting, whereas employee-elected</td></tr><tr><td colspan="1">members are elected for terms of four years.</td></tr><tr><td colspan="1">At the board meeting on 27 January 2022, Niels</td></tr><tr><td colspan="1">Smedegaard was elected new Chair of Falck’s</td></tr><tr><td colspan="1">Board of Directors. Niels Smedegaard has been</td></tr><tr><td colspan="1">a member of Falck’s Board of Directors since</td></tr><tr><td colspan="1">2016 and is considered independent. He replaced</td></tr><tr><td colspan="1">Peter Schütze, who thereafter continued to</td></tr><tr><td colspan="1">contribute as a member of the Board of</td></tr><tr><td colspan="1">Directors after having acted as Chair since 2015</td></tr><tr><td colspan="1">The change of Chair came as Falck had</td></tr><tr><td colspan="1">defined and subsequently progressed well on</td></tr><tr><td colspan="1">its business strategy towards 2025.</td></tr><tr><td colspan="1">The most recent election of employee repre-</td></tr><tr><td colspan="1">sentatives for the Board of Directors for the</td></tr><tr><td colspan="1">2021-2025 term was held in March 2021.</td></tr><tr><td colspan="1">The employee representatives consist of Vagn</td></tr><tr><td colspan="1">Flink Møller Pedersen, Stefan Fyhn Gregersen,</td></tr><tr><td colspan="1">and Christian Jesper Engvad Madsen. The</td></tr><tr><td colspan="1">employee representative Jacob Bonne</td></tr><tr><td colspan="1">Guldberg resigned on 15 May 2022 and was</td></tr><tr><td colspan="1">replaced by elected alternate Christian Jesper</td></tr><tr><td colspan="1">Engvad Madsen.</td></tr><tr><td colspan="1">Lundbeckfonden is represented on the</td></tr><tr><td colspan="1">Board of Directors by Lene Skole (Deputy</td></tr><tr><td colspan="1">Chair) and Peter Schütze while KIRKBI is</td></tr><tr><td colspan="1">represented by Thomas Lau Schleicher. The</td></tr><tr><td colspan="1">other three shareholder-elected members are</td></tr><tr><td colspan="1">considered independent whereas none of the</td></tr><tr><td colspan="1">employee-elected members are considered</td></tr><tr><td colspan="1">independent as defined by the Danish</td></tr><tr><td colspan="1">Recommendations on Corporate Governance.</td></tr><tr><td colspan="1">Both the Board of Directors and the Executive</td></tr><tr><td colspan="1">Committee strive to ensure transparency and</td></tr><tr><td colspan="1">accountability by building trusting relation-</td></tr><tr><td colspan="1">ships with shareholders, customers, suppliers,</td></tr><tr><td colspan="1">employees and the local communities in which</td></tr><tr><td colspan="1">Falck operates.</td></tr><tr><td colspan="1">The Executive Committee and Executive</td></tr><tr><td colspan="1">Management team</td></tr><tr><td colspan="1">The Executive Committee is responsible</td></tr><tr><td colspan="1">for the day-to-day management and opera-</td></tr><tr><td colspan="1">tion of Falck. This is conducted in accordance</td></tr><tr><td colspan="1">with the guidelines and recommendations as</td></tr><tr><td colspan="1">set out by the Board of Directors and with</td></tr><tr><td colspan="1">focus on developing and implementing</td></tr><tr><td colspan="1">strategies and significant initiatives. Moreover,</td></tr><tr><td colspan="1">the Executive Committee is responsible for</td></tr><tr><td colspan="1">ensuring that the Board of Directors is</td></tr><tr><td colspan="1">informed of all material matters and that</td></tr><tr><td colspan="1">proposals and recommendations concerning</td></tr><tr><td colspan="1">the Group’s overall strategy and objectives are</td></tr><tr><td colspan="1">submitted to the Board of Directors. The</td></tr><tr><td colspan="1">Executive Committee consists of the Group</td></tr><tr><td colspan="1">CEO and the Group CFO. On 31 March 2022,</td></tr><tr><td colspan="1">Tor Magne Lønnum stepped down as Group</td></tr><tr><td colspan="1">CFO to take up a position outside Falck.</td></tr><tr><td colspan="1">Maarit Pokkinen served as interim Group CFO</td></tr><tr><td colspan="1">from 1 April until 30 June after which Christian</td></tr><tr><td colspan="1">Baltzer assumed the role as Group CFO.</td></tr><tr><td colspan="1">The Executive Committee has established an</td></tr><tr><td colspan="1">Executive Management team to undertake</td></tr><tr><td colspan="1">leadership of the day-to-day management.</td></tr><tr><td colspan="1">In addition to the Executive Committee</td></tr><tr><td colspan="1">members, the Executive Management team</td></tr><tr><td colspan="1">consists of the EVP Consumer and Technical</td></tr><tr><td colspan="1">services, the SVP Employee and Labour</td></tr><tr><td colspan="1">Market services, the SVP Ambulance US, the</td></tr><tr><td colspan="1">SVP Ambulance Europe and Fire, the SVP</td></tr><tr><td colspan="1">Community Health services, Latam, the SVP</td></tr><tr><td colspan="1">Commercial, the SVP Global People &amp; Culture</td></tr><tr><td colspan="1">and the SVP Corporate Development and</td></tr><tr><td colspan="1">Affairs.</td></tr><tr><td colspan="1">Evaluation of the Board of Directors</td></tr><tr><td colspan="1">Like previous years, the Board of Directors has</td></tr><tr><td colspan="1">conducted an annual evaluation of the</td></tr><tr><td colspan="1">effectiveness of the Board of Directors, the</td></tr><tr><td colspan="1">processes supporting its work, individual</td></tr><tr><td colspan="1">board members’ contributions, the Chair’s</td></tr><tr><td colspan="1">performance and its interaction with the</td></tr><tr><td colspan="1">Executive Committee.</td></tr><tr><td colspan="1">The quantitative evaluations on these areas</td></tr><tr><td colspan="1">are based on a collective assessment as well as</td></tr><tr><td colspan="1">self-assessments. Moreover, the evaluation</td></tr><tr><td colspan="1">included the individual competencies of the</td></tr><tr><td colspan="1">board members. The assessment has been</td></tr><tr><td colspan="1">carried out by an external company to assure</td></tr><tr><td colspan="1">anonymity, which is also part of the Danish</td></tr><tr><td colspan="1">Recommendations on Corporate Governance.</td></tr><tr><td colspan="1">Each board member and member of the</td></tr><tr><td colspan="1">Executive Committee have responded to an</td></tr><tr><td colspan="1">online questionnaire.</td></tr><tr><td colspan="1">As it has been practised for several years,</td></tr><tr><td colspan="1">the board evaluation has been presented</td></tr><tr><td colspan="1">and discussed collectively in the Board of</td></tr><tr><td colspan="1">Directors, and the Chair has provided each</td></tr><tr><td colspan="1">board member with feedback.</td></tr><tr><td colspan="1">The board evaluation for 2022 resulted in a</td></tr><tr><td colspan="1">total score of 9.85 on a scale from 1 – 10, and</td></tr><tr><td colspan="1">this level is almost identical to the score in</td></tr><tr><td colspan="1">2021, which was 9.84. This is a very high score</td></tr><tr><td colspan="1">on performance, taking into consideration that</td></tr><tr><td colspan="1">the average is around 8 in an external industry</td></tr><tr><td colspan="1">benchmark.</td></tr><tr><td colspan="1">The board evaluation reveals that there is a</td></tr><tr><td colspan="1">high level of trust with the board members to</td></tr><tr><td colspan="1">the performance of the Executive Manage-</td></tr><tr><td colspan="1">ment and the collaboration. In this regard,</td></tr><tr><td colspan="1">there was a high overall assessment in the</td></tr><tr><td colspan="1">view that the Board of Directors works with a</td></tr><tr><td colspan="1">strong commitment to ESG and focus on</td></tr><tr><td colspan="1">ensuring progress.</td></tr><tr><td colspan="1">The board evaluation has also highlighted</td></tr><tr><td colspan="1">some improvement areas. One is to</td></tr><tr><td colspan="1">turn more attention and work towards</td></tr><tr><td colspan="1">discussions around business development</td></tr><tr><td colspan="1">and performance – and somewhat less</td></tr><tr><td colspan="1">upon compliance. There is also a need to</td></tr><tr><td colspan="1">strengthen attention towards risk areas</td></tr><tr><td colspan="1">such as IT and cyber risks.</td></tr><tr><td colspan="1">From the board discussions of the evaluation in</td></tr><tr><td colspan="1">2022, it has been decided to focus on the below</td></tr><tr><td colspan="1">key areas in 2023</td></tr><tr><td colspan="1">• Succession of key positions with</td></tr><tr><td colspan="1">internal talent</td></tr><tr><td colspan="1">• Building of board competencies</td></tr><tr><td colspan="1">within digitalisation and healthcare</td></tr><tr><td colspan="1">• Assess the remuneration model</td></tr><tr><td colspan="1">• Gender diversity and inclusion</td></tr><tr><td colspan="1">Board competencies and diversity</td></tr><tr><td colspan="1">The composition of the Board of Directors must</td></tr><tr><td colspan="1">be in such a way that the competencies of its</td></tr><tr><td colspan="1">members combined enable it to inspire,</td></tr><tr><td colspan="1">progress and oversee the development of Falck.</td></tr><tr><td colspan="1">All members of the Board of Directors hold</td></tr><tr><td colspan="1">equal rights and obligations. The Board of</td></tr><tr><td colspan="1">Directors believes that members should be</td></tr><tr><td colspan="1">chosen based on their overall competencies and</td></tr><tr><td colspan="1">recognises the importance and beneficial effect</td></tr><tr><td colspan="1">of board diversity with respect to experience,</td></tr><tr><td colspan="1">cultural and educational backgrounds, and</td></tr><tr><td colspan="1">gender.1</td></tr><tr><td colspan="1">In 2022, the Board of Directors identified a</td></tr><tr><td colspan="1">range of competencies that are deemed</td></tr><tr><td colspan="1">important for ensuring continued progress of</td></tr><tr><td colspan="1">Falck. These are</td></tr><tr><td colspan="1">• C-level experience</td></tr><tr><td colspan="1">• Strategic planning</td></tr><tr><td colspan="1">• ESG and Corporate Governance</td></tr><tr><td colspan="1">• Customer relation management</td></tr><tr><td colspan="1">• M&amp;A</td></tr><tr><td colspan="1">• Industry-relevant experience</td></tr><tr><td colspan="1">• Contract-based business models</td></tr><tr><td colspan="1">• Subscription-based business models</td></tr><tr><td colspan="1">• Core market insigths</td></tr><tr><td colspan="1">• Organisational development</td></tr><tr><td colspan="1">• Digitalisation</td></tr><tr><td colspan="1">• Technology innovation</td></tr><tr><td colspan="1">• Risk management</td></tr><tr><td colspan="1">Special competencies required from</td></tr><tr><td colspan="1">employee-elected members of the Board of</td></tr><tr><td colspan="1">Directors are</td></tr><tr><td colspan="1">• Company knowledge</td></tr><tr><td colspan="1">• Balancing employee and business</td></tr><tr><td colspan="1">perspectives</td></tr><tr><td colspan="1">• Employee engagement</td></tr><tr><td colspan="1">• Internal communication</td></tr><tr><td colspan="1">Board activities</td></tr><tr><td colspan="1">The Board of Directors held 12 ordinary or</td></tr><tr><td colspan="1">extraordinary board meetings as well as a</td></tr><tr><td colspan="1">strategy seminar in 2022. The most significant</td></tr><tr><td colspan="1">activities were related to</td></tr><tr><td colspan="1">• Continued development of</td></tr><tr><td colspan="1">Falck’s strategy, Care for more ‘25</td></tr><tr><td colspan="1">• Divestment of Falck’s Roadside</td></tr><tr><td colspan="1">Assistance business in Sweden, Norway,</td></tr><tr><td colspan="1">Finland, Estonia and Lithuania</td></tr><tr><td colspan="1">• Integration of Frisk Gruppen</td></tr><tr><td colspan="1">• Sustainability strategy and the Science</td></tr><tr><td colspan="1">Based Targets initiative</td></tr><tr><td colspan="1">• Development of a global operating model</td></tr><tr><td colspan="1">for the ambulance business</td></tr><tr><td colspan="1">• Start-up of the ambulance contract</td></tr><tr><td colspan="1">in San Diego</td></tr><tr><td colspan="1">• Initiative to develop a full-potential strategy</td></tr><tr><td colspan="1">planning for Falck.</td></tr><tr><td colspan="1">The regular activities of the Board of Directors</td></tr><tr><td colspan="1">included discussions and approvals of</td></tr><tr><td colspan="1">• Financials: Annual and interim reports,</td></tr><tr><td colspan="1">including sustainability reporting, remunera-</td></tr><tr><td colspan="1">tion report, forecast and targets, ESG-linked</td></tr><tr><td colspan="1">syndicated refinancing agreement</td></tr><tr><td colspan="1">• Strategic and commercial topics: Acquisi-</td></tr><tr><td colspan="1">tions, divestments, tenders, business updates</td></tr><tr><td colspan="1">• People and Culture: Engagement survey</td></tr><tr><td colspan="1">results and actions, succession planning</td></tr><tr><td colspan="1">• Policies for the following subject areas: Tax,</td></tr><tr><td colspan="1">Insurance, Risk, Executive Hiring, Succession</td></tr><tr><td colspan="1">Planning, M&amp;A, Diversity and Inclusion,</td></tr><tr><td colspan="1">Remuneration, Communication, Investor</td></tr><tr><td colspan="1">Relations, Sustainability, Human Rights,</td></tr><tr><td colspan="1">Data Ethics, Treasury, Whistle-blower, and</td></tr><tr><td colspan="1">also on the provision of non-audit services by</td></tr><tr><td colspan="1">the independent auditors</td></tr><tr><td colspan="1">• Other main topics: Recommendations on</td></tr><tr><td colspan="1">Corporate Governance, Health and Safety,</td></tr><tr><td colspan="1">Risks, Whistleblower and Compliance</td></tr><tr><td colspan="1">reporting</td></tr><tr><td colspan="1">There was a strong attendance to the Board</td></tr><tr><td colspan="1">of Directors' meetings from its members,</td></tr><tr><td colspan="1">evidenced by the fact that all members had an</td></tr><tr><td colspan="1">attendance rate well above 90%.</td></tr><tr><td colspan="1">Internal controls</td></tr><tr><td colspan="1">The Board of Directors and the Audit Commit-</td></tr><tr><td colspan="1">tee assume overall responsibility for overseeing</td></tr><tr><td colspan="1">the internal control environment and the</td></tr><tr><td colspan="1">effectiveness of internal controls. The Execu-</td></tr><tr><td colspan="1">tive Committee leads the implementation and</td></tr><tr><td colspan="1">monitoring of an appropriate internal control</td></tr><tr><td colspan="1">environment.</td></tr><tr><td colspan="1">The internal control environment has been</td></tr><tr><td colspan="1">upheld by an independent Internal Audit,</td></tr><tr><td colspan="1">Internal Financial Controls, Quality Assurance</td></tr><tr><td colspan="1">and ISO Audit.</td></tr><tr><td colspan="1">Over the past years, Falck has invested in</td></tr><tr><td colspan="1">improvements to controls, compliance and</td></tr><tr><td colspan="1">processes. The Board of Directors and the</td></tr><tr><td colspan="1">Audit Committee acknowledged the improve-</td></tr><tr><td colspan="1">ment in the control environment and decided</td></tr><tr><td colspan="1">in November 2022 to discontinue the indepen-</td></tr><tr><td colspan="1">dent audit function appointed by the Audit</td></tr><tr><td colspan="1">Committee. The independent internal audit</td></tr><tr><td colspan="1">function was established by the Audit</td></tr><tr><td colspan="1">Committee in 2018.</td></tr><tr><td colspan="1">Remuneration</td></tr><tr><td colspan="1">Remuneration of the members of the Board of</td></tr><tr><td colspan="1">Directors and the Executive Committee is</td></tr><tr><td colspan="1">governed by Falck’s Remuneration Policy, which</td></tr><tr><td colspan="1">complies with the Danish Recommendations</td></tr><tr><td colspan="1">on Corporate Governance. The Remuneration</td></tr><tr><td colspan="1">Policy and the annual Remuneration Report</td></tr><tr><td colspan="1">are both available at www.falck.com/about-</td></tr><tr><td colspan="1">us/corporategovernance/remuneration.</td></tr><tr><td colspan="1">Data Ethics</td></tr><tr><td colspan="1">Falck’s Data Ethics Policy was developed and</td></tr><tr><td colspan="1">approved by the Board of Directors in 2021. It</td></tr><tr><td colspan="1">is based on the basic principles of data ethics</td></tr><tr><td colspan="1">set out by the think tank, DataEthics, and</td></tr><tr><td colspan="1">covers the following areas</td></tr><tr><td colspan="1">• Purpose and usage: Human interests prevail</td></tr><tr><td colspan="1">over commercial interests. The data that we</td></tr><tr><td colspan="1">are legally required to store are held for the</td></tr><tr><td colspan="1">benefit of the individual</td></tr><tr><td colspan="1">• Individual data control: Individuals should</td></tr><tr><td colspan="1">have primary control over the usage of their</td></tr><tr><td colspan="1">own data</td></tr><tr><td colspan="1">• Transparency: We strive to be transparent</td></tr><tr><td colspan="1">when we communicate purposes and</td></tr><tr><td colspan="1">interests of data usage to individuals via</td></tr><tr><td colspan="1">privacy notices and policies</td></tr><tr><td colspan="1">• Accountability and governance: Efforts are</td></tr><tr><td colspan="1">made to reduce the risks to individuals and</td></tr><tr><td colspan="1">to mitigate undesirable social and ethical</td></tr><tr><td colspan="1">implications.</td></tr><tr><td colspan="1">A working group with representatives from</td></tr><tr><td colspan="1">global functions and business segments has</td></tr><tr><td colspan="1">been established as an advisory board to local</td></tr><tr><td colspan="1">and global managements on data ethical</td></tr><tr><td colspan="1">matters.</td></tr><tr><td colspan="1">The global Data Ethics Policy for 2022, cf.</td></tr><tr><td colspan="1">section 99d, is available at</td></tr><tr><td colspan="1">www.falck.com/data-protection.</td></tr><tr><td colspan="1">Board committees</td></tr><tr><td colspan="1">The Board of Directors has established two committees to support its decision-making</td></tr><tr><td colspan="1">An Audit Committee and a Remuneration and Nomination Committee.</td></tr><tr><td colspan="1">The Audit committee</td></tr><tr><td colspan="1">The Audit Committee assists the Board of</td></tr><tr><td colspan="1">Directors in monitoring Falck’s financial</td></tr><tr><td colspan="1">reporting process, accounting policies,</td></tr><tr><td colspan="1">statutory audits of annual reports, assessment</td></tr><tr><td colspan="1">of quarterly reports, effectiveness of internal</td></tr><tr><td colspan="1">control and risk management systems, tax and</td></tr><tr><td colspan="1">treasury governance, compliance and</td></tr><tr><td colspan="1">whistle-blower systems, ESG progress, IT</td></tr><tr><td colspan="1">security, and the independence of the external</td></tr><tr><td colspan="1">auditors. The Audit Committee makes</td></tr><tr><td colspan="1">recommendations on these topics to the Board</td></tr><tr><td colspan="1">of Directors and, on behalf of the Board of</td></tr><tr><td colspan="1">Directors, follows up on the implementation of</td></tr><tr><td colspan="1">initiatives taken by the Executive Committee.</td></tr><tr><td colspan="1">The Board of Directors appoints the Audit</td></tr><tr><td colspan="1">Committee members from among its</td></tr><tr><td colspan="1">members for one-year terms. One member is</td></tr><tr><td colspan="1">designated as Committee Chair.</td></tr><tr><td colspan="1">The Committee’s work and responsibilities are</td></tr><tr><td colspan="1">established in a charter.</td></tr><tr><td colspan="1">Member composition and meetings</td></tr><tr><td colspan="1">In March 2022, Lene Skole and Lars Frederik-</td></tr><tr><td colspan="1">sen were reappointed, while Peter Schütze and</td></tr><tr><td colspan="1">Dorthe Mikkelsen were appointed as new</td></tr><tr><td colspan="1">members of the Audit Committee. Peter</td></tr><tr><td colspan="1">Schütze was further appointed as new Chair</td></tr><tr><td colspan="1">of the Audit Committee. The Audit Committee</td></tr><tr><td colspan="1">meets at least four times a year. Altogether,</td></tr><tr><td colspan="1">the Audit Committee held six meetings during</td></tr><tr><td colspan="1">2022 and there was a high attendance rate.</td></tr><tr><td colspan="1">Most significant activities</td></tr><tr><td colspan="1">The most significant activities of the Audit</td></tr><tr><td colspan="1">Committee during 2022 were</td></tr><tr><td colspan="1">• Recommendation for approval of the annual</td></tr><tr><td colspan="1">report 2021 and the interim reports during</td></tr><tr><td colspan="1">2022 as well as pursuing an integrated</td></tr><tr><td colspan="1">financial and sustainability reporting in the</td></tr><tr><td colspan="1">annual report 2022</td></tr><tr><td colspan="1">• Discussion of future and likely requirements</td></tr><tr><td colspan="1">in terms of control and assurance of</td></tr><tr><td colspan="1">sustainability reporting</td></tr><tr><td colspan="1">• Recommendations delivered related</td></tr><tr><td colspan="1">to audit and compliance, IT and cybersecuri-</td></tr><tr><td colspan="1">ty, enterprise risks and the refinancing</td></tr><tr><td colspan="1">agreement linked to selected sustainability</td></tr><tr><td colspan="1">KPIs</td></tr><tr><td colspan="1">The Remuneration and Nomination Committee</td></tr><tr><td colspan="1">The Remuneration and Nomination Committee</td></tr><tr><td colspan="1">assists the Board of Directors in overseeing the</td></tr><tr><td colspan="1">remuneration of members of the Board of</td></tr><tr><td colspan="1">Directors, members of board committees and</td></tr><tr><td colspan="1">members of the Executive Committee, including</td></tr><tr><td colspan="1">the determination of remuneration levels and</td></tr><tr><td colspan="1">incentive programmes. In addition, the</td></tr><tr><td colspan="1">Remuneration and Nomination Committee is</td></tr><tr><td colspan="1">responsible for the Remuneration Report and</td></tr><tr><td colspan="1">Remuneration Policy, including the general</td></tr><tr><td colspan="1">guidelines governing incentive programmes for</td></tr><tr><td colspan="1">members of the Executive Committee.</td></tr><tr><td colspan="1">The Remuneration and Nomination Committee</td></tr><tr><td colspan="1">is responsible for assisting the Board of</td></tr><tr><td colspan="1">Directors in performing its duties in terms of</td></tr><tr><td colspan="1">ensuring that the Board of Directors and the</td></tr><tr><td colspan="1">Executive Committee always have the</td></tr><tr><td colspan="1">necessary professional competencies and</td></tr><tr><td colspan="1">experience, and that they both have an</td></tr><tr><td colspan="1">appropriate number of members, for nominat-</td></tr><tr><td colspan="1">ing members to the Board of Directors and the</td></tr><tr><td colspan="1">Executive Committee, and for regularly</td></tr><tr><td colspan="1">reviewing the performance of the Board of</td></tr><tr><td colspan="1">Directors and the Executive Committee.</td></tr><tr><td colspan="1">Remuneration and Nomination Committee</td></tr><tr><td colspan="1">members are appointed by the Board of</td></tr><tr><td colspan="1">Directors from among its members for one-year</td></tr><tr><td colspan="1">terms. The Committee’s work and responsibili-</td></tr><tr><td colspan="1">ties are established in a charter.</td></tr><tr><td colspan="1">Member composition and meetings</td></tr><tr><td colspan="1">In March 2022, Dorthe Mikkelsen and Lene Skole</td></tr><tr><td colspan="1">were reappointed to the Remuneration and</td></tr><tr><td colspan="1">Nomination Committee. Niels Smedegaard was</td></tr><tr><td colspan="1">appointed as new Chair of the Remuneration</td></tr><tr><td colspan="1">and Nomination Committee. The Remuneration</td></tr><tr><td colspan="1">and Nomination Committee meets at least</td></tr><tr><td colspan="1">twice a year. Five meetings were held in the</td></tr><tr><td colspan="1">Committee during 2022 and there was a high</td></tr><tr><td colspan="1">attendance rate recorded.</td></tr><tr><td colspan="1">Most significant activities</td></tr><tr><td colspan="1">The most significant activities of the Remunera-</td></tr><tr><td colspan="1">tion and Nomination Committee during 2022</td></tr><tr><td colspan="1">were</td></tr><tr><td colspan="1">• Peer-group and benchmark of the Board of</td></tr><tr><td colspan="1">Directors and Executive Committee</td></tr><tr><td colspan="1">• Succession Planning</td></tr><tr><td colspan="1">• Two new policies; Executive Hiring Policy and</td></tr><tr><td colspan="1">Succession Planning Policy</td></tr><tr><td colspan="1">• Short-term and long-term incentives</td></tr><tr><td colspan="1">• Discussions on and recommendation for</td></tr><tr><td colspan="1">approval of remuneration of the Executive</td></tr><tr><td colspan="1">Committee and the Board of Directors</td></tr><tr><td colspan="1">• Definition of competence profiles for the</td></tr><tr><td colspan="1">Board of Directors and Executive Committee</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">sustainability</td></tr><tr><td colspan="1">Our sustainability strategy seeks to</td></tr><tr><td colspan="1">advance healthcare while reducing</td></tr><tr><td colspan="1">climate impact. We have progressed</td></tr><tr><td colspan="1">in 2022 by delivering more services,</td></tr><tr><td colspan="1">reducing carbon emissions from our</td></tr><tr><td colspan="1">fleet and committing to the Science</td></tr><tr><td colspan="1">Based Targets initiative.</td></tr><tr><td colspan="1">Climate change</td></tr><tr><td colspan="1">is the single biggest</td></tr><tr><td colspan="1">global health</td></tr><tr><td colspan="1">threat</td></tr><tr><td colspan="1">We are committed to pursuing a sustainability</td></tr><tr><td colspan="1">response to safeguard public health and further</td></tr><tr><td colspan="1">enable the green transition of societies.</td></tr><tr><td colspan="1">The World Health Organization (WHO)</td></tr><tr><td colspan="1">recognises climate change as the single largest</td></tr><tr><td colspan="1">global threat to public health and its impacts</td></tr><tr><td colspan="1">are already evident.</td></tr><tr><td colspan="1">People's health is a foundation for a healthy</td></tr><tr><td colspan="1">and prosperous society, and high-quality</td></tr><tr><td colspan="1">healthcare and emergency services are vital for</td></tr><tr><td colspan="1">securing this. While being impacted by climate</td></tr><tr><td colspan="1">change, the healthcare sector also accounts</td></tr><tr><td colspan="1">for 4-5% of global CO2 emissions1. As a</td></tr><tr><td colspan="1">provider of healthcare and emergency services,</td></tr><tr><td colspan="1">we wish to do our part to reduce these</td></tr><tr><td colspan="1">negative impacts and contribute to finding</td></tr><tr><td colspan="1">solutions.</td></tr><tr><td colspan="1">At Falck, we are committed to helping resolve</td></tr><tr><td colspan="1">current and emerging public health issues,</td></tr><tr><td colspan="1">some of which arise directly from climate</td></tr><tr><td colspan="1">changes, through relevant services and</td></tr><tr><td colspan="1">support of healthcare systems. It is our bold</td></tr><tr><td colspan="1">ambition to advance healthcare while at the</td></tr><tr><td colspan="1">same time reducing our climate footprint.</td></tr><tr><td colspan="1">Growing demand for healthcare has already</td></tr><tr><td colspan="1">surpassed what can be provided by available</td></tr><tr><td colspan="1">healthcare professionals. Looking ahead, the</td></tr><tr><td colspan="1">WHO forecasts a global shortage of 10 million</td></tr><tr><td colspan="1">healthcare workers by 20302.</td></tr><tr><td colspan="1">For many reasons, healthcare systems are</td></tr><tr><td colspan="1">under pressure in most countries and innova-</td></tr><tr><td colspan="1">tion is needed to maintain or improve the</td></tr><tr><td colspan="1">quality of services while meeting these</td></tr><tr><td colspan="1">challenges.</td></tr><tr><td colspan="1">Falck’s sustainability strategy</td></tr><tr><td colspan="1">Against this backdrop, we took a significant</td></tr><tr><td colspan="1">step forward on our sustainability agenda in</td></tr><tr><td colspan="1">2021, and further developed our sustainability</td></tr><tr><td colspan="1">strategy in 2022. With our purpose to advance</td></tr><tr><td colspan="1">sustainable healthcare as a starting point, we</td></tr><tr><td colspan="1">strive to address some of the biggest global</td></tr><tr><td colspan="1">challenges facing the world today – namely</td></tr><tr><td colspan="1">those within healthcare and climate. We have</td></tr><tr><td colspan="1">responded within those areas where we believe</td></tr><tr><td colspan="1">we have the greatest societal impact, and</td></tr><tr><td colspan="1">backed this up with targets and KPIs across</td></tr><tr><td colspan="1">the business.</td></tr><tr><td colspan="1">We strive to</td></tr><tr><td colspan="1">• Advance healthcare</td></tr><tr><td colspan="1">• Reduce climate impact</td></tr><tr><td colspan="1">• Secure healthy and diverse workplace</td></tr><tr><td colspan="1">• Build trust</td></tr><tr><td colspan="1">Our results and aspirations</td></tr><tr><td colspan="1">In 2022, we contributed to society by delivering</td></tr><tr><td colspan="1">8.9 million healthcare and emergency health</td></tr><tr><td colspan="1">and safety services. We committed to the</td></tr><tr><td colspan="1">Science Based Targets initiative, achieved a</td></tr><tr><td colspan="1">slight reduction in emissions from our fleet</td></tr><tr><td colspan="1">(scope 1), improved our Lost Time Injury rate</td></tr><tr><td colspan="1">(LTIR) and our whistle-blower reporting ratio</td></tr><tr><td colspan="1">remained satisfctory.</td></tr><tr><td colspan="1">We have commenced on a transformational</td></tr><tr><td colspan="1">journey. This is paramount to innovate our</td></tr><tr><td colspan="1">services and business to provide quality health-</td></tr><tr><td colspan="1">care to more people with less of an environ-</td></tr><tr><td colspan="1">mental impact.</td></tr><tr><td colspan="1">In 2023, we will</td></tr><tr><td colspan="1">• Continue to improve our existing ways of</td></tr><tr><td colspan="1">working, and develop smarter, new and</td></tr><tr><td colspan="1">transformational ways to deliver our services</td></tr><tr><td colspan="1">in more climate-friendly ways</td></tr><tr><td colspan="1">• Prepare to submit Science Based Targets no</td></tr><tr><td colspan="1">later than 2024, and thereby extend our</td></tr><tr><td colspan="1">commitment to the value chain</td></tr><tr><td colspan="1">• Prepare and implement reduction initiatives</td></tr><tr><td colspan="1">for our operations and value chain</td></tr><tr><td colspan="1">• Increase data maturity and continue with</td></tr><tr><td colspan="1">limited assurance of selected ESG targets</td></tr><tr><td colspan="1">• Prepare for upcoming Corporate Sustain-</td></tr><tr><td colspan="1">ability Reporting Directive (CSRD)</td></tr><tr><td colspan="1">Materiality assessment</td></tr><tr><td colspan="1">Our sustainability strategy is based on an</td></tr><tr><td colspan="1">assessment of what is most material to our</td></tr><tr><td colspan="1">business and stakeholders. We have initially</td></tr><tr><td colspan="1">identified and assessed our most material ESG</td></tr><tr><td colspan="1">areas through desk-based research, internal</td></tr><tr><td colspan="1">discussions and on-going dialogue with</td></tr><tr><td colspan="1">stakeholders in the societies where we</td></tr><tr><td colspan="1">operate. This assessment guides us in pursuing</td></tr><tr><td colspan="1">prioritisation and mitigation strategies. Going</td></tr><tr><td colspan="1">forward, we will prepare an extended double</td></tr><tr><td colspan="1">materiality assessment, also in compliance</td></tr><tr><td colspan="1">with the Corporate Sustainability Reporting</td></tr><tr><td colspan="1">Directive (CSRD). The CSRD will apply to Falck</td></tr><tr><td colspan="1">from 2025.</td></tr><tr><td colspan="1">Our strategy mainly impacts the following four SDGs</td></tr><tr><td colspan="1">SDG #3 Good health and well-being</td></tr><tr><td colspan="1">– our services contribute to the health</td></tr><tr><td colspan="1">and well-being of people and societies.</td></tr><tr><td colspan="1">We save and improve lives every day,</td></tr><tr><td colspan="1">and we want to innovate and advance</td></tr><tr><td colspan="1">healthcare.</td></tr><tr><td colspan="1">SDG #13 Climate action – we want to</td></tr><tr><td colspan="1">reduce the climate impact from our fleet</td></tr><tr><td colspan="1">and extend our commitments to our</td></tr><tr><td colspan="1">value chain. We will align our targets</td></tr><tr><td colspan="1">with what science says is necessary to</td></tr><tr><td colspan="1">reach the goals of the Paris Agreement.</td></tr><tr><td colspan="1">SDG #8 Decent work and economic</td></tr><tr><td colspan="1">growth – employees are our most</td></tr><tr><td colspan="1">important asset, and we want to ensure</td></tr><tr><td colspan="1">a healthy and diverse workplace where</td></tr><tr><td colspan="1">employees can thrive personally and</td></tr><tr><td colspan="1">professionally.</td></tr><tr><td colspan="1">SDG#16 – peace, justice and strong</td></tr><tr><td colspan="1">institutions. We want to conduct</td></tr><tr><td colspan="1">business in a way that never breaches</td></tr><tr><td colspan="1">the trust of our employees, partners or</td></tr><tr><td colspan="1">customers.</td></tr><tr><td colspan="1">The combination of more multi-chronic</td></tr><tr><td colspan="1">patients, ageing populations and an</td></tr><tr><td colspan="1">ever-growing awareness among the younger</td></tr><tr><td colspan="1">generations elevates the overall demand for</td></tr><tr><td colspan="1">healthcare services. Therefore, we have</td></tr><tr><td colspan="1">included the number of services we provide as</td></tr><tr><td colspan="1">a key target area in our sustainability</td></tr><tr><td colspan="1">strategy.</td></tr><tr><td colspan="1">Nearly 9 million healthcare services delivered</td></tr><tr><td colspan="1">In 2022, our highly skilled staff delivered</td></tr><tr><td colspan="1">8.9 million healthcare services, up from 8.1</td></tr><tr><td colspan="1">millon last year. These services were broadly</td></tr><tr><td colspan="1">delivered across prevention, treatments and</td></tr><tr><td colspan="1">rehabilitation.</td></tr><tr><td colspan="1">Falck increased the volume of healthcare-</td></tr><tr><td colspan="1">related services provided in 2022 – to a total</td></tr><tr><td colspan="1">of 5.3 million from 4.3 million in 2021. Part of</td></tr><tr><td colspan="1">the increase in services provided was attribut-</td></tr><tr><td colspan="1">able to the addition of Frisk Gruppen in</td></tr><tr><td colspan="1">November 2021. Across the Scandinavian</td></tr><tr><td colspan="1">countries, we increased the number of</td></tr><tr><td colspan="1">employee and labour market services</td></tr><tr><td colspan="1">provided. The rate of growth was around 23%</td></tr><tr><td colspan="1">with an uplift across the wide spectrum of</td></tr><tr><td colspan="1">physical, psychological and preventive</td></tr><tr><td colspan="1">treatments. In Colombia, we experienced a</td></tr><tr><td colspan="1">considerable increase in the number of virtual</td></tr><tr><td colspan="1">consultations. In Europe and the US, we</td></tr><tr><td colspan="1">dispatched our ambulances 3.6 million times</td></tr><tr><td colspan="1">to help people in need.</td></tr><tr><td colspan="1">The mentioned numbers matter to us,</td></tr><tr><td colspan="1">because every time we have completed a trip,</td></tr><tr><td colspan="1">given a treatment, prevented an accident or</td></tr><tr><td colspan="1">provided one of our services, we have usually</td></tr><tr><td colspan="1">improved the life of at least one person – in</td></tr><tr><td colspan="1">some cases with profound effect.</td></tr><tr><td colspan="1">11%</td></tr><tr><td colspan="1">Overall, the number of services</td></tr><tr><td colspan="1">delivered has increased by 11%.</td></tr><tr><td colspan="1">We see a continued demand</td></tr><tr><td colspan="1">for the services Falck provides</td></tr><tr><td colspan="1">in the communities we are part</td></tr><tr><td colspan="1">of.</td></tr><tr><td colspan="1">Reducing CO2 emissions</td></tr><tr><td colspan="1">The science-based conclusions from the</td></tr><tr><td colspan="1">Intergovernmental Panel on Climate Change</td></tr><tr><td colspan="1">(IPCC), a United Nations body, are unambigu-</td></tr><tr><td colspan="1">ous: To avert catastrophic health impacts and</td></tr><tr><td colspan="1">prevent millions of climate change-related</td></tr><tr><td colspan="1">deaths, the world must limit temperature rise</td></tr><tr><td colspan="1">to 1.5°C.</td></tr><tr><td colspan="1">We are committed to doing our part. For a</td></tr><tr><td colspan="1">number of years, we have worked to reduce</td></tr><tr><td colspan="1">CO2 emissions from our fleet, which is our</td></tr><tr><td colspan="1">single biggest direct source of emissions.</td></tr><tr><td colspan="1">Around 75% of our carbon emissions (scope 1)</td></tr><tr><td colspan="1">originates from the ambulance business.</td></tr><tr><td colspan="1">CO2 emissions from fleet</td></tr><tr><td colspan="1">The target is to reduce our direct emissions</td></tr><tr><td colspan="1">(scope 1) by 50% in 2030 from 2021 as the</td></tr><tr><td colspan="1">baseline. We have begun the transition from</td></tr><tr><td colspan="1">diesel and petrol-powered vehicles to electric</td></tr><tr><td colspan="1">vehicles and have adopted the use of biofuels.</td></tr><tr><td colspan="1">This is an ambitious target, however, since</td></tr><tr><td colspan="1">electrification depends upon significant</td></tr><tr><td colspan="1">innovation in battery technology, particularly</td></tr><tr><td colspan="1">when it comes to ambulances. At this stage,</td></tr><tr><td colspan="1">we are testing prototypes.</td></tr><tr><td colspan="1">In 2022, we managed to slightly reduce our</td></tr><tr><td colspan="1">CO2 emissions from 53,194 tonnes in 2021 to</td></tr><tr><td colspan="1">52,325 tonnes in 2022, equivalent to a 2%</td></tr><tr><td colspan="1">decrease. To support this trajectory, we aim to</td></tr><tr><td colspan="1">make our fleet for seated patient transports</td></tr><tr><td colspan="1">100% electric by 2027.</td></tr><tr><td colspan="1">Relative CO2 emissions</td></tr><tr><td colspan="1">The direct emissions (scope 1) are closely linked</td></tr><tr><td colspan="1">to the need for our ambulance services and the</td></tr><tr><td colspan="1">volume of ambulance contracts operated. The</td></tr><tr><td colspan="1">number of trips depends largely on the needs</td></tr><tr><td colspan="1">of the communities and societies where we</td></tr><tr><td colspan="1">operate, which may sometimes be beyond our</td></tr><tr><td colspan="1">control.</td></tr><tr><td colspan="1">To supplement the absolute reduction target,</td></tr><tr><td colspan="1">we have also set a relative target because we</td></tr><tr><td colspan="1">want to measure our ability to reduce the</td></tr><tr><td colspan="1">climate impact of the individual services we</td></tr><tr><td colspan="1">provide. We aim to lower the ratio of our total</td></tr><tr><td colspan="1">scope 1 CO2 emissions to total revenue per</td></tr><tr><td colspan="1">year to 2.06 in 2030 (equal to a 10% reduction</td></tr><tr><td colspan="1">year-on-year).</td></tr><tr><td colspan="1">The ratio recorded for 2022 shows we are on</td></tr><tr><td colspan="1">track: The relative number decreased by 12%</td></tr><tr><td colspan="1">from 5.31 to 4.661. We will continue to explore</td></tr><tr><td colspan="1">and pursue ways to make progress.</td></tr><tr><td colspan="1">A transition to smarter, new and transforma-</td></tr><tr><td colspan="1">tional ways of working, for instance through</td></tr><tr><td colspan="1">the increased use of online consultations and</td></tr><tr><td colspan="1">drones for transport, could be achieved</td></tr><tr><td colspan="1">through a shift from services highly dependent</td></tr><tr><td colspan="1">on a vehicle fleet to other, less CO2-intensive</td></tr><tr><td colspan="1">services which would favourably impact the</td></tr><tr><td colspan="1">relative CO2 emission value.</td></tr><tr><td colspan="1">Strengthening engagement and diversity</td></tr><tr><td colspan="1">We are a healthcare business with skilled</td></tr><tr><td colspan="1">and dedicated professionals as our most</td></tr><tr><td colspan="1">valuable asset. Consequently, it is a big</td></tr><tr><td colspan="1">priority at Falck to provide a healthy, diverse</td></tr><tr><td colspan="1">and inclusive workplace and for our employ-</td></tr><tr><td colspan="1">ees to thrive personally and professionally,</td></tr><tr><td colspan="1">regardless of their individual differences.</td></tr><tr><td colspan="1">Employee engagement, development and</td></tr><tr><td colspan="1">retention is essential for Falck in safeguarding</td></tr><tr><td colspan="1">long-term, sustainable business development.</td></tr><tr><td colspan="1">For all those reasons, we are committed to</td></tr><tr><td colspan="1">continuously improving the levels of engage-</td></tr><tr><td colspan="1">ment, health and safety among our employ-</td></tr><tr><td colspan="1">ees and encourage diversity as well as</td></tr><tr><td colspan="1">inclusion in our workplace.</td></tr><tr><td colspan="1">Stable level of employee engagement</td></tr><tr><td colspan="1">Each year, we conduct a global employee</td></tr><tr><td colspan="1">engagement survey. The target is to increase</td></tr><tr><td colspan="1">the employee engagement score (eSat) to 75</td></tr><tr><td colspan="1">in 2025. In 2022, the engagement score was</td></tr><tr><td colspan="1">72. This corresponds to the level in 2021.</td></tr><tr><td colspan="1">The score is based entirely on employee</td></tr><tr><td colspan="1">responses to the question: "How happy are</td></tr><tr><td colspan="1">you working at Falck?".</td></tr><tr><td colspan="1">Looking at the survey more broadly, we saw</td></tr><tr><td colspan="1">positive developments in important measure-</td></tr><tr><td colspan="1">ments in 2022. In almost all business units, we</td></tr><tr><td colspan="1">observed improved scores on 15 questions,</td></tr><tr><td colspan="1">although there was a decline on two ques-</td></tr><tr><td colspan="1">tions.</td></tr><tr><td colspan="1">Across the business, we have seen a particular</td></tr><tr><td colspan="1">increase in employee satisfaction with the</td></tr><tr><td colspan="1">immediate manager. This score has increased</td></tr><tr><td colspan="1">by 10 percentage points over the past three</td></tr><tr><td colspan="1">years.</td></tr><tr><td colspan="1">Some business units have significantly</td></tr><tr><td colspan="1">improved their results after being identified</td></tr><tr><td colspan="1">as areas requiring special attention in 2021.</td></tr><tr><td colspan="1">The specific focus on teams with low scores</td></tr><tr><td colspan="1">on selected questions has yielded particularly</td></tr><tr><td colspan="1">strong outcomes.</td></tr><tr><td colspan="1">The score on purpose was again very high</td></tr><tr><td colspan="1">(84), also compared to the benchmarks (79).</td></tr><tr><td colspan="1">The score has increased slightly from 2021</td></tr><tr><td colspan="1">and indicates that Falck provides a purpose-</td></tr><tr><td colspan="1">driven and meaningful workplace, where</td></tr><tr><td colspan="1">employees contribute to saving and improving</td></tr><tr><td colspan="1">lives every day.</td></tr><tr><td colspan="1">Turnover remain high</td></tr><tr><td colspan="1">The staff turnover rate was 28.8% in 2022,</td></tr><tr><td colspan="1">almost the same as last year (29.0%), and</td></tr><tr><td colspan="1">remains at an unsatisfactory level. The staff</td></tr><tr><td colspan="1">turnover rate is excluding people employed for</td></tr><tr><td colspan="1">antigen testing activities. In 2022, we took a</td></tr><tr><td colspan="1">broad range of initiatives, such as implement-</td></tr><tr><td colspan="1">ing a global project to identify root causes of</td></tr><tr><td colspan="1">churn and to develop appropriate solutions.</td></tr><tr><td colspan="1">We focused on frontline recruitment, and</td></tr><tr><td colspan="1">established task forces in targeted countries</td></tr><tr><td colspan="1">with the emphasis on building and expanding</td></tr><tr><td colspan="1">an attractive workplace. Locally owned</td></tr><tr><td colspan="1">initiatives have been supported by a global</td></tr><tr><td colspan="1">toolbox and sparring.</td></tr><tr><td colspan="1">Having a diverse and inclusive culture matters</td></tr><tr><td colspan="1">We are confident that a workplace with a</td></tr><tr><td colspan="1">strong corporate culture embracing diversity</td></tr><tr><td colspan="1">and inclusion fosters innovation, better</td></tr><tr><td colspan="1">decision-making, engagement, brand attrac-</td></tr><tr><td colspan="1">tiveness and many other benefits.</td></tr><tr><td colspan="1">We strive to promote a diverse workforce and</td></tr><tr><td colspan="1">an inclusive culture where employees are</td></tr><tr><td colspan="1">treated with respect and provided with the</td></tr><tr><td colspan="1">resources and opportunities they need to</td></tr><tr><td colspan="1">thrive personally and professionally, regardless</td></tr><tr><td colspan="1">of their individual differences. We work with a</td></tr><tr><td colspan="1">broad understanding of diversity; covering</td></tr><tr><td colspan="1">both visible and invisible differences.</td></tr><tr><td colspan="1">Targets to improve diversity</td></tr><tr><td colspan="1">To promote gender diversity at management</td></tr><tr><td colspan="1">levels and generate a cascading effect, we</td></tr><tr><td colspan="1">have set targets for the Board of Directors</td></tr><tr><td colspan="1">and the Executive Management, but also for</td></tr><tr><td colspan="1">Senior Management, who are people manag-</td></tr><tr><td colspan="1">ers reporting to Executive Management. In</td></tr><tr><td colspan="1">2022, we maintained an equal gender repre-</td></tr><tr><td colspan="1">sentation on the Board of Directors and in</td></tr><tr><td colspan="1">Executive Management, as in 2021, and we</td></tr><tr><td colspan="1">aim to maintain an equal representation of at</td></tr><tr><td colspan="1">least 40% of the underrepresented gender.</td></tr><tr><td colspan="1">Equal representation is defined as a 40/60</td></tr><tr><td colspan="1">gender composition in line with guidelines from</td></tr><tr><td colspan="1">the Danish Business Authority</td></tr><tr><td colspan="1">In 2022, we set a new combined target for the</td></tr><tr><td colspan="1">Executive Management and Senior Manage-</td></tr><tr><td colspan="1">ment, namely to adhere to an equal represen-</td></tr><tr><td colspan="1">tation of at least 40% of the underrepresent-</td></tr><tr><td colspan="1">ed gender at these management levels by</td></tr><tr><td colspan="1">2025. The baseline for the new target is 33%</td></tr><tr><td colspan="1">(baseline year 2022).</td></tr><tr><td colspan="1">Improvement of safety performance</td></tr><tr><td colspan="1">Every day, our employees put themselves at</td></tr><tr><td colspan="1">risk to save the lives of other people. To</td></tr><tr><td colspan="1">safeguard our employees, we promote a</td></tr><tr><td colspan="1">culture where safety is embedded in our ways</td></tr><tr><td colspan="1">of working to ensure that everyone returns</td></tr><tr><td colspan="1">home safely. While incidents still occur across</td></tr><tr><td colspan="1">our business, we are determined to reduce the</td></tr><tr><td colspan="1">number to a minimum.</td></tr><tr><td colspan="1">It is an integral part of our business operations</td></tr><tr><td colspan="1">to continuously improve global processes for</td></tr><tr><td colspan="1">reporting of incidents at work, raising aware-</td></tr><tr><td colspan="1">ness through campaigning, as well as collect-</td></tr><tr><td colspan="1">ing data and analysing it.</td></tr><tr><td colspan="1">We strive to achieve a 10% reduction year-on-</td></tr><tr><td colspan="1">year with 2021 as our baseline year. In 2022,</td></tr><tr><td colspan="1">563 Lost Time Injuries were recorded, which</td></tr><tr><td colspan="1">resulted in an Lost Time Injury Rate (LTIR) of</td></tr><tr><td colspan="1">14.3. This is an improvement from 16.5 in 2021,</td></tr><tr><td colspan="1">equivalent to a decrease of 13%. We are</td></tr><tr><td colspan="1">committed to continue lowering the rate. Our</td></tr><tr><td colspan="1">target is to reduce the LTIR to below 8.8 by</td></tr><tr><td colspan="1">2027</td></tr><tr><td colspan="1">Our global reporting was further enhanced in</td></tr><tr><td colspan="1">2022 to improve performance measurement of</td></tr><tr><td colspan="1">health and safety. This has further elevated</td></tr><tr><td colspan="1">the conditions for conducting deep-dive</td></tr><tr><td colspan="1">analytics and on that basis commence</td></tr><tr><td colspan="1">initiatives to either keep up or improve</td></tr><tr><td colspan="1">standards. It allows us to look into the root</td></tr><tr><td colspan="1">causes of incidents, tailor safety initiatives and</td></tr><tr><td colspan="1">develop documented processes where needed.</td></tr><tr><td colspan="1">The incidents reported in 2022 mainly occurred</td></tr><tr><td colspan="1">during routine activities such as exercise,</td></tr><tr><td colspan="1">maintenance, training and other non-emergen-</td></tr><tr><td colspan="1">cy activities (around 45%) and handling</td></tr><tr><td colspan="1">patients (around 20%). Incidents occurred</td></tr><tr><td colspan="1">during emergency activities where external</td></tr><tr><td colspan="1">factors, which usually have a large influence,</td></tr><tr><td colspan="1">accounted for around 20%.</td></tr><tr><td colspan="1">This insight enables us to focus even more on</td></tr><tr><td colspan="1">safety procedures, global processes and</td></tr><tr><td colspan="1">awareness to mitigate incidents.</td></tr><tr><td colspan="1">To back up efforts, we established a safety</td></tr><tr><td colspan="1">community with representatives from all</td></tr><tr><td colspan="1">business units to implement our safety</td></tr><tr><td colspan="1">strategy in all parts of the business. This has</td></tr><tr><td colspan="1">been backed by investments in educational</td></tr><tr><td colspan="1">programmes towards employees to build,</td></tr><tr><td colspan="1">expand and maintain safety skills.</td></tr><tr><td colspan="1">Zero fatalities</td></tr><tr><td colspan="1">Every life is precious, and every single fatality is</td></tr><tr><td colspan="1">a tragic reminder that safety must always</td></tr><tr><td colspan="1">come first. Our target is zero fatalities, and in</td></tr><tr><td colspan="1">2022 there were no fatalities.</td></tr><tr><td colspan="1">We build trust</td></tr><tr><td colspan="1">People and societies rely on us every day,</td></tr><tr><td colspan="1">and that requires us to be a trusted business</td></tr><tr><td colspan="1">partner. Trust is vital to our license to operate,</td></tr><tr><td colspan="1">and it is essential that we conduct business in</td></tr><tr><td colspan="1">a way that never breaches the trust of our</td></tr><tr><td colspan="1">employees, our partners, our customers or the</td></tr><tr><td colspan="1">communities in which we operate. Unfair</td></tr><tr><td colspan="1">competition and unethical behaviour result</td></tr><tr><td colspan="1">in higher costs and erosion of trust.</td></tr><tr><td colspan="1">In our operations, we support and respect</td></tr><tr><td colspan="1">the protection of human rights, and we are</td></tr><tr><td colspan="1">committed to advancing these rights.</td></tr><tr><td colspan="1">Our business is conducted with integrity and</td></tr><tr><td colspan="1">high ethical standards in compliance with</td></tr><tr><td colspan="1">applicable laws, regulations and in-house</td></tr><tr><td colspan="1">policies. We seek to be transparent, be</td></tr><tr><td colspan="1">competing for business on fair terms, adhere</td></tr><tr><td colspan="1">to good corporate governance and proactively</td></tr><tr><td colspan="1">identify and mitigate compliance risks.</td></tr><tr><td colspan="1">Secure whistle-blower reporting ratio</td></tr><tr><td colspan="1">We promote a global speak-up culture and</td></tr><tr><td colspan="1">have adopted a zero-tolerance approach</td></tr><tr><td colspan="1">towards breaches of our Code of Conduct.</td></tr><tr><td colspan="1">There is a zero-tolerance practise towards</td></tr><tr><td colspan="1">any form of bribery or corruption, whether</td></tr><tr><td colspan="1">committed by employees, agents or any other</td></tr><tr><td colspan="1">business partners. Read our Anti-Corruption</td></tr><tr><td colspan="1">Statement here.</td></tr><tr><td colspan="1">Our whistle-blower system, Falck Alert, is</td></tr><tr><td colspan="1">available to all employees, business partners</td></tr><tr><td colspan="1">and third parties 24/7, and we continuously</td></tr><tr><td colspan="1">encourage employees to report concerns about</td></tr><tr><td colspan="1">irregularities or improper actions that fail to</td></tr><tr><td colspan="1">comply with applicable laws and regulations,</td></tr><tr><td colspan="1">our Code of Conduct or in-house policies.</td></tr><tr><td colspan="1">Various types of unethical behaviour are</td></tr><tr><td colspan="1">reported through the system, and these are</td></tr><tr><td colspan="1">all investigated and concluded.</td></tr><tr><td colspan="1">To emphasise the priority and importance,</td></tr><tr><td colspan="1">we have set a target for our whistle-blower</td></tr><tr><td colspan="1">reporting system. The target is to have a ratio</td></tr><tr><td colspan="1">above 1 report per 100 employees, as such level</td></tr><tr><td colspan="1">would be a strong indication of employees</td></tr><tr><td colspan="1">trusting the system and knowing they can</td></tr><tr><td colspan="1">use it without fear of retaliation.</td></tr><tr><td colspan="1">The reporting ratio for 2022 was 1.62, and</td></tr><tr><td colspan="1">thereby higher than last year, which indicates</td></tr><tr><td colspan="1">that it is an established and accesible whis-</td></tr><tr><td colspan="1">tle-blower system.</td></tr><tr><td colspan="1">In 2022, we received 296 reports (227 in 2021),</td></tr><tr><td colspan="1">of which 58% were anonymous. This is in line</td></tr><tr><td colspan="1">with a weighted average for organisations</td></tr><tr><td colspan="1">within the NAVEX Global database. The cases</td></tr><tr><td colspan="1">reported via Falck Alert fall within the following</td></tr><tr><td colspan="1">top-five categories</td></tr><tr><td colspan="1">1. Compliance with laws and standards (21%)</td></tr><tr><td colspan="1">These reports related to non-compliance</td></tr><tr><td colspan="1">with e.g. our standards for uniforms or similar</td></tr><tr><td colspan="1">2. Misconduct or inappropriate behaviour (19%)</td></tr><tr><td colspan="1">The reports related to a range of inappropri-</td></tr><tr><td colspan="1">ate behaviour that makes people uncomfort-</td></tr><tr><td colspan="1">able or create a hostile working environment</td></tr><tr><td colspan="1">3. Working conditions (18%): Most reports relat-</td></tr><tr><td colspan="1">ed to staff shortage</td></tr><tr><td colspan="1">4. Discrimination and harassment (15%): The</td></tr><tr><td colspan="1">reports related to sexual harassment,</td></tr><tr><td colspan="1">discriminatory treatment and bullying</td></tr><tr><td colspan="1">5. Leadership (10%): The reports related to</td></tr><tr><td colspan="1">various managerial issues, e.g. leadership</td></tr><tr><td colspan="1">style, communication and fair distribution</td></tr><tr><td colspan="1">of work.</td></tr><tr><td colspan="1">Out of 296 cases reported, 29 led to termina-</td></tr><tr><td colspan="1">tion of employment, 11 to written warnings</td></tr><tr><td colspan="1">and 57 to additional instructions or guidance.</td></tr><tr><td colspan="1">Governance and processes were strengthened</td></tr><tr><td colspan="1">even further during 2022 through various</td></tr><tr><td colspan="1">measures. Firstly, a globally standardised</td></tr><tr><td colspan="1">approach to investigations was implemented.</td></tr><tr><td colspan="1">Secondly, local investigators within Falck were</td></tr><tr><td colspan="1">engaged, reporting to the global Head of</td></tr><tr><td colspan="1">Investigations. Thirdly, the two bodies estab-</td></tr><tr><td colspan="1">lished in 2021, Compliance Advisory Board and</td></tr><tr><td colspan="1">the Compliance Community Forum, came into</td></tr><tr><td colspan="1">full operation and the outcome has been an</td></tr><tr><td colspan="1">even stronger collaboration and understanding</td></tr><tr><td colspan="1">of the value that Falck Alert adds to the</td></tr><tr><td colspan="1">business.</td></tr><tr><td colspan="1">Increased Code of Conduct training</td></tr><tr><td colspan="1">Our global Employee Code of Conduct sets out</td></tr><tr><td colspan="1">the minimum standards and ethical principles-</td></tr><tr><td colspan="1">by which all Falck employees must abide. It</td></tr><tr><td colspan="1">provides our employees with a common</td></tr><tr><td colspan="1">understanding of how we conduct business</td></tr><tr><td colspan="1">and promotes high ethical standards for</td></tr><tr><td colspan="1">everyone at Falck.</td></tr><tr><td colspan="1">It is key to embed the Code of Conduct for</td></tr><tr><td colspan="1">employees in the way we work via training,</td></tr><tr><td colspan="1">communication and awareness campaigns.</td></tr><tr><td colspan="1">We are committed to ensuring that all</td></tr><tr><td colspan="1">full-time employees are trained every two</td></tr><tr><td colspan="1">years either online or in person in order to</td></tr><tr><td colspan="1">foster a culture of integrity and trust.</td></tr><tr><td colspan="1">During 2022, several steps were taken to</td></tr><tr><td colspan="1">improve this year’s Code of Conduct training</td></tr><tr><td colspan="1">efforts and results. As a result, we have seen a</td></tr><tr><td colspan="1">vast improvement in the completion rate by</td></tr><tr><td colspan="1">full-time employees to 81%.</td></tr><tr><td colspan="1">In 2021, 55% of full-time employees completed</td></tr><tr><td colspan="1">the training. This was not a satisfactory</td></tr><tr><td colspan="1">percentage in terms of our ambition to</td></tr><tr><td colspan="1">integrate the Code of Conduct in the way</td></tr><tr><td colspan="1">we work.</td></tr><tr><td colspan="1">One key objective for conducting the training is</td></tr><tr><td colspan="1">to ensure that we build a compliance culture to</td></tr><tr><td colspan="1">respect the protection of human rights. This</td></tr><tr><td colspan="1">also includes protection of labour conditions,</td></tr><tr><td colspan="1">and both areas are covered as part of the</td></tr><tr><td colspan="1">section on Respecting People in the Code of</td></tr><tr><td colspan="1">Conduct training.</td></tr><tr><td colspan="1">We do not tolerate any illegal or unethical</td></tr><tr><td colspan="1">behaviour as explained by the Falck Code of</td></tr><tr><td colspan="1">Conduct for employees and other related</td></tr><tr><td colspan="1">(internal) policies. Our policy on Human Rights,</td></tr><tr><td colspan="1">which we updated in 2022, sets out clear</td></tr><tr><td colspan="1">expectations and minimum requirements.</td></tr><tr><td colspan="1">Read our Human Rights Policy here.</td></tr><tr><td colspan="1">Gifts and hospitality campaign</td></tr><tr><td colspan="1">To combat corruption and mitigate compliance</td></tr><tr><td colspan="1">risks in this area, Falck updated its policy and</td></tr><tr><td colspan="1">procedure on gifts and hospitality in 2022. The</td></tr><tr><td colspan="1">policy sets out clear requirements for the</td></tr><tr><td colspan="1">giving and acceptance of gifts to or from</td></tr><tr><td colspan="1">external parties. On that basis a platform for</td></tr><tr><td colspan="1">registering and recording of approved gifts</td></tr><tr><td colspan="1">and hospitality is in place. Employees are</td></tr><tr><td colspan="1">trained in the areas of anti-corruption and</td></tr><tr><td colspan="1">gifts and hospitality as part of the Code of</td></tr><tr><td colspan="1">Conduct training, and a campaign was carried</td></tr><tr><td colspan="1">out to increase awareness.</td></tr><tr><td colspan="1">Code of Conduct for suppliers</td></tr><tr><td colspan="1">We rely heavily on goods and services delivered</td></tr><tr><td colspan="1">by suppliers to perform our services. Therefore,</td></tr><tr><td colspan="1">ethical and corect conduct by everyone in our</td></tr><tr><td colspan="1">supply chain is imperative to us.</td></tr><tr><td colspan="1">All suppliers, and their sub-suppliers, must</td></tr><tr><td colspan="1">therefore comply with Falck’s Supplier Code of</td></tr><tr><td colspan="1">Conduct and are required to communicate the</td></tr><tr><td colspan="1">obligations set out herein and ensure compli-</td></tr><tr><td colspan="1">ance with the Code throughout their organisa-</td></tr><tr><td colspan="1">tions and supply chains. Read our Code of</td></tr><tr><td colspan="1">Conduct for suppliers here.</td></tr><tr><td colspan="1">Governance and the way we</td></tr><tr><td colspan="1">monitor progress</td></tr><tr><td colspan="1">Our sustainability efforts are an integral part</td></tr><tr><td colspan="1">of our daily business decisions and strategy,</td></tr><tr><td colspan="1">and our commitment is embedded in the ways</td></tr><tr><td colspan="1">we work, in our Code of Conduct for employ-</td></tr><tr><td colspan="1">ees and suppliers and in our Winning Be-</td></tr><tr><td colspan="1">haviours. Initiatives are managed by the</td></tr><tr><td colspan="1">management teams of the relevant business</td></tr><tr><td colspan="1">units and group functions. KPIs and targets</td></tr><tr><td colspan="1">are decided by the Executive Management.</td></tr><tr><td colspan="1">The Audit Committee is responsible for</td></tr><tr><td colspan="1">monitoring ESG data and processes, and the</td></tr><tr><td colspan="1">Board of Directors sets the direction and</td></tr><tr><td colspan="1">approves the strategy and targets. Annual</td></tr><tr><td colspan="1">results for each KPI are approved by the Board</td></tr><tr><td colspan="1">of Directors and presented in Falck’s Annual</td></tr><tr><td colspan="1">Report.</td></tr><tr><td colspan="1">Progress is monitored through an ‘ESG</td></tr><tr><td colspan="1">dashboard’ (Environmental, Social and</td></tr><tr><td colspan="1">Governance indicators) and reported on</td></tr><tr><td colspan="1">an annual basis. Selected ESG targets (CO2</td></tr><tr><td colspan="1">reduction scope 1, LTIR and employee engage-</td></tr><tr><td colspan="1">ment) are part of the ESG-linked refinancing</td></tr><tr><td colspan="1">of our long-term credit facilities.</td></tr><tr><td colspan="1">Policies clearly setting out expectations and</td></tr><tr><td colspan="1">minimum requirements are key to delivering on</td></tr><tr><td colspan="1">our sustainability strategy and conducting</td></tr><tr><td colspan="1">business, such as policies on Sustainability,</td></tr><tr><td colspan="1">Human Rights, Diversity &amp; Inclusion and</td></tr><tr><td colspan="1">several other key policies.</td></tr><tr><td colspan="1">→ Read more here www.falck.com/policies</td></tr></table> 12647000000 10025000000 2622000000 1974000000 69000000 -21000000 90000000 174000000 689000000 1121000000 44000000 118000000 1047000000 126000000 921000000 920000000 1000000 0 -103000000 10000000 -113000000 808000000 807000000 1000000 498000000 -1057000000 -697000000 118000000 44000000 168000000 -113000000 190000000 88000000 11000000 3000000 998000000 0 0 882000000 1750000000 46000000 57000000 1103000000 1172000000 -1922000000 -1153000000 -20000000 Årsrapport 30700228 EY Godkendt Revisionspartnerselskab Cortex Park Vest 3 5230 Odense M xWizard version 1.1.1209.0, by EasyX Aps. www.easyx.eu 2021-01-01 2021-12-31 Revisionspåtegning Grundlag for konklusion Konklusion 2 Jakob Riis President and CEO Christian Baltzer CFO Niels Smedegaard Chair Lene Skole Deputy Chair Lars Frederiksen Stefan Fyhn Gregersen Employee representative Christian Jesper Engvad Madsen Employee representative Dorthe Mikkelsen Vagn Flink Møller Pedersen Employee representative Thomas Schleicher Peter Schütze 15173000000 11394000000 3779000000 2006000000 61000000 -55000000 38000000 0 -107000000 1634000000 107000000 153000000 1588000000 359000000 1229000000 1219000000 10000000 1000000 9000000 21000000 -11000000 1218000000 1208000000 10000000 471000000 -12000000 96000000 151000000 107000000 317000000 1866000000 101000000 87000000 8000000 680000000 81000000 200000000 199000000 -622000000 0 0 187000000 1117000000 1954000000 -1024000000 220000000 28000000 5603000000 746000000 864000000 1005000000 120000000 60000000 8398000000 41000000 322000000 1181000000 25000000 352000000 186000000 2107000000 10505000000 136000000 -373000000 4156000000 3919000000 0 3919000000 2286000000 659000000 39000000 119000000 2000000 0 3105000000 169000000 280000000 879000000 287000000 163000000 728000000 975000000 3481000000 6586000000 10505000000 186000000 6099000000 874000000 805000000 1199000000 175000000 17000000 9169000000 70000000 353000000 1258000000 25000000 410000000 1359000000 3475000000 12644000000 136000000 -260000000 5071000000 4947000000 17000000 4964000000 2083000000 747000000 118000000 137000000 20000000 3000000 3108000000 19000000 429000000 1118000000 300000000 242000000 1128000000 1336000000 4572000000 7680000000 12644000000 1359000000 Amortisation of customer contracts and brand 90000000 Amortisation of customer contracts and brand 38000000 Impairment of goodwill 174000000 Impairment of goodwill 0 1359000000 1111000000 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab 33771231 Lars Baungaard State Authorised Public Accountant mne23331 Tue Stensgård Sørensen State Authorised Public Accountant mne32200 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab