25816676 2023-01-01 2023-12-31 25816676 2023-01-01 2023-12-31 0 25816676 2023-01-01 2023-12-31 0 25816676 2023-01-01 2023-12-31 1 25816676 2022-01-01 2022-12-31 25816676 2023-12-31 25816676 2022-12-31 25816676 2023-01-01 2023-12-31 0 iso4217:DKK xbrli:pure 2023-01-01 2023-12-31 2024-06-20 Ketan Patel <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 Executive and Supervisory Boards have today considered and adopted the Annual Report of Juniper</td></tr><tr><td colspan="1">Networks Denmark ApS for the financial year 1 January ‑ 31 December 2023.</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 Annual Report is prepared in accordance with the 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 Financial Statements give a true and fair view of the financial position at 31 December</td></tr><tr><td colspan="1">2023 of the Company and of the results of the Company operations for 2023.</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 management's report gives a true and fair statement of the matters dealt with by the</td></tr><tr><td colspan="1">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 be adopted at the Annual General Meeting.</td></tr></table> Copenhagen 2024-06-20 <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 colspan="1">To the shareholders of Juniper Networks Denmark ApS</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">Opinion</td></tr><tr><td colspan="1">We have audited the financial statements of Juniper Networks Denmark ApS for the financial year</td></tr><tr><td colspan="1">1 January – 31 which comprise income statement, balance sheet and notes, including accounting policies.</td></tr><tr><td colspan="1">The financial statements are prepared in accordance with the Danish Financial Statements Act.</td></tr><tr><td colspan="1">In our opinion, the financial statements give a true and fair view of the financial position of the Company at 31</td></tr><tr><td colspan="1">December 2023 and of the results of the Company's operations for the financial year 1 January – 31 December 2023 in</td></tr><tr><td colspan="1">accordance with the 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">Basis for opinion</td></tr><tr><td colspan="1">We conducted our audit in accordance with International Standards on Auditing (ISAs) and additional requirements</td></tr><tr><td colspan="1">applicable in Denmark. Our responsibilities under those standards and requirements are further described in the</td></tr><tr><td colspan="1">Auditor's responsibilities for the audit of the financial statements section of our report. We believe that the audit</td></tr><tr><td colspan="1">evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.</td></tr><tr><td colspan="1">Independence</td></tr><tr><td colspan="1">We are independent of the Company in accordance with the International Ethics Standards Board for Accountants'</td></tr><tr><td colspan="1">International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements</td></tr><tr><td colspan="1">applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and</td></tr><tr><td colspan="1">the IESBA Code.</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">Management's responsibilities for the financial statements</td></tr><tr><td colspan="1">Management is responsible for the preparation of financial statements that give a true and fair view in accordance with</td></tr><tr><td colspan="1">the Danish Financial Statements Act and for such internal control as Management determines is necessary to enable</td></tr><tr><td colspan="1">the preparation of financial statements that are free from material misstatement, whether due to fraud or error.</td></tr><tr><td colspan="1">In preparing the financial statements, Management is responsible for assessing the Company's ability to continue as a</td></tr><tr><td colspan="1">going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of</td></tr><tr><td colspan="1">accounting in preparing the financial statements unless Management either intends to liquidate the Company or to</td></tr><tr><td colspan="1">cease operations, or has no realistic alternative but 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 colspan="1">Auditor's responsibilities for the audit of the financial statements</td></tr><tr><td colspan="1">Our objectives are to obtain reasonable assurance as to whether the financial statements as a whole are free from</td></tr><tr><td colspan="1">material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.</td></tr><tr><td colspan="1">Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with</td></tr><tr><td colspan="1">ISAs and additional requirements applicable in Denmark will always detect a material misstatement when it exists.</td></tr><tr><td colspan="1">Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could</td></tr><tr><td colspan="1">reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.</td></tr><tr><td colspan="1">As part of an audit conducted in accordance with ISAs and additional requirements applicable in Denmark, we exercise</td></tr><tr><td colspan="1">professional judgement and maintain professional scepticism throughout the audit. We also</td></tr><tr><td colspan="1">• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error,</td></tr><tr><td colspan="1">design and perform audit procedures responsive to those risks and obtain audit evidence that is sufficient and</td></tr><tr><td colspan="1">appropriate to provide a basis for our opinion.The risk of not detecting a material misstatement resulting from fraud is</td></tr><tr><td colspan="1">higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,</td></tr><tr><td colspan="1">misrepresentations or the override of internal control.</td></tr><tr><td colspan="1">• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are</td></tr><tr><td colspan="1">appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the</td></tr><tr><td colspan="1">Company's internal control.</td></tr><tr><td colspan="1">• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and</td></tr><tr><td colspan="1">related disclosures made by Management.</td></tr><tr><td colspan="1">• Conclude on the appropriateness of Management's use of the going concern basis of accounting in preparing the</td></tr><tr><td colspan="1">financial statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events</td></tr><tr><td colspan="1">or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude</td></tr><tr><td colspan="1">that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in</td></tr><tr><td colspan="1">the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the</td></tr><tr><td colspan="1">audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the</td></tr><tr><td colspan="1">Company to cease to continue as a going concern.</td></tr><tr><td colspan="1">• Evaluate the overall presentation, structure and contents of the financial statements, including the note</td></tr><tr><td colspan="1">disclosures, and whether the financial statements represent the under lying transactions and events in a manner that</td></tr><tr><td colspan="1">gives a true and fair wiew</td></tr><tr><td colspan="1">We communicate with those charged with governance regarding, among other matters, the planned scope and timing of</td></tr><tr><td colspan="1">the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our</td></tr><tr><td colspan="1">audit.</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">Statement on the Management's review</td></tr><tr><td colspan="1">Management is responsible for the Management's review.</td></tr><tr><td colspan="1">Our opinion on the financial statements does not cover the Management's review, and we do not express any form of</td></tr><tr><td colspan="1">assurance conclusion thereon.</td></tr><tr><td colspan="1">In connection with our audit of the financial statements, our responsibility is to read the Management's reviewand, in</td></tr><tr><td colspan="1">doing so, consider whether the Management's review is materially in consistent with the financial statements or our</td></tr><tr><td colspan="1">knowledge obtained during the audit, or otherwise appears to be materially misstated.</td></tr><tr><td colspan="1">Moreover, it is our responsibility to consider whether the Management's review provides the information required under</td></tr><tr><td colspan="1">the Danish Financial Statements Act.</td></tr><tr><td colspan="1">Based on the work we have performed, we conclude that the Management's review is in accordance with the financial</td></tr><tr><td colspan="1">statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did</td></tr><tr><td colspan="1">not identify any material misstatement of the Management's review.</td></tr></table> Copenhagen 2024-06-20 Juniper Networks Denmark ApS Suite 301 & 302,Rådhuspladsen 16, 1. 1550 København, Denmark 25816676 Copenhagen <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">Main activity</td></tr><tr><td colspan="1">The Company is engaged in the sales support, marketing and customer support services of internet protocol</td></tr><tr><td colspan="1">secure networking solutions for the Juniper Networks Group in Denmark.</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">Development in the year</td></tr><tr><td colspan="1">The income statement of the Company for 2023 shows a profit of DKK 711,776 and at 31 December 2023</td></tr><tr><td colspan="1">the balance sheet of the Company shows equity of DKK 8,645,744.</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">Subsequent events</td></tr><tr><td colspan="1">On January 9, 2024, Hewlett Packard Enterprise (HPE) and Juniper Networks Inc. (“Ultimate holding</td></tr><tr><td colspan="1">company” or “Juniper Inc”) announced that the companies entered into a definitive Merger Agreement under</td></tr><tr><td colspan="1">which HPE will acquire Juniper Inc in an all-cash transaction. Under the terms of this agreement, Juniper Inc</td></tr><tr><td colspan="1">shareholders will receive $40.00 per share in cash upon the completion of the transaction, representing an</td></tr><tr><td colspan="1">equity value of approximately $14 billion. The transaction is currently expected to close in late calendar year</td></tr><tr><td colspan="1">2024 or early calendar year 2025, subject to receipt of regulatory approvals, approval of the transaction by</td></tr><tr><td colspan="1">Juniper Inc shareholders, and satisfaction of other customary closing conditions. This is not expected to</td></tr><tr><td colspan="1">have any material short term financial impact on Branch of Juniper Networks BV Company.</td></tr></table> 18723629 4226666 14496963 13685206 247550 118806 940501 228725 711776 711776 <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 width="100%" colspan="3" align="left" valign="middle" ><b>Notes to the Annual Report</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Staff expenses</b></td></tr><tr><td width="71%" ></td><td width="14%" align="right" valign="middle" ><b>2023</b></td><td width="15%" align="right" valign="middle" ><b>2022</b></td></tr><tr><td width="71%" ></td><td width="14%" colspan="1" align="right" valign="middle" ><b>DKK</b></td><td width="15%" colspan="1" align="right" valign="middle" ><b>DKK</b></td></tr><tr><td width="71%" colspan="1" align="left" valign="middle" >Wages and salaries</td><td width="14%" align="right" valign="middle" > 13.003.501 </td><td width="15%" align="right" valign="middle" > 11.177.318 </td></tr><tr><td width="71%" colspan="1" align="left" valign="middle" >Pensions</td><td width="14%" align="right" valign="middle" > 594.187 </td><td width="15%" align="right" valign="middle" > 655.008 </td></tr><tr><td width="71%" colspan="1" align="left" valign="middle" >Other social security expenses</td><td width="14%" align="right" valign="middle" > 87.518 </td><td width="15%" align="right" valign="middle" > 92.176 </td></tr><tr><td width="71%" colspan="1" align="left" valign="middle" >Total</td><td width="14%" align="right" valign="middle" ><b> 13.685.206 </b></td><td width="15%" align="right" valign="middle" ><b> 11.924.502 </b></td></tr><tr><td colspan="3"></td></tr><tr><td width="71%" colspan="1" align="left" valign="middle" >Average number of employees</td><td width="14%" align="right" valign="middle" >8</td><td width="15%" align="right" valign="middle" >8</td></tr><tr><td colspan="3"></td></tr></table> 8 <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 width="100%" colspan="3" align="left" valign="middle" ><b>Financial income</b></td></tr><tr><td width="71%" ></td><td width="14%" align="right" valign="middle" ><b>2023</b></td><td width="15%" align="right" valign="middle" ><b>2022</b></td></tr><tr><td width="71%" ></td><td width="14%" colspan="1" align="right" valign="middle" ><b>DKK</b></td><td width="15%" colspan="1" align="right" valign="middle" ><b>DKK</b></td></tr><tr><td width="71%" colspan="1" align="left" valign="middle" >Other income</td><td width="14%" align="right" valign="middle" > 220.854 </td><td width="15%" align="right" valign="middle" > - </td></tr><tr><td width="71%" colspan="1" align="left" valign="middle" >Foreign exchange gain</td><td width="14%" align="right" valign="middle" > 26.696 </td><td width="15%" align="right" valign="middle" > 8.262 </td></tr><tr><td width="71%" colspan="1" align="left" valign="middle" >Total</td><td width="14%" align="right" valign="middle" ><b> 247.550 </b></td><td width="15%" align="right" valign="middle" ><b> 8.262 </b></td></tr><tr><td colspan="3"></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 width="100%" colspan="3" align="left" valign="middle" ><b>Financial expenses</b></td></tr><tr><td width="71%" ></td><td width="14%" align="right" valign="middle" ><b>2023</b></td><td width="15%" align="right" valign="middle" ><b>2022</b></td></tr><tr><td width="71%" ></td><td width="14%" colspan="1" align="right" valign="middle" ><b>DKK</b></td><td width="15%" colspan="1" align="right" valign="middle" ><b>DKK</b></td></tr><tr><td width="71%" colspan="1" align="left" valign="middle" >Other expenses</td><td width="14%" align="right" valign="middle" > 18.063 </td><td width="15%" align="right" valign="middle" > 58.988 </td></tr><tr><td width="71%" colspan="1" align="left" valign="middle" >Foreign exchange loss</td><td width="14%" align="right" valign="middle" > 100.743 </td><td width="15%" align="right" valign="middle" > - </td></tr><tr><td width="71%" ></td><td width="14%" align="right" valign="middle" ><b> 118.806 </b></td><td width="15%" align="right" valign="middle" ><b> 58.988 </b></td></tr><tr><td colspan="3"></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 width="100%" colspan="3" align="left" valign="middle" ><b>Tax on profit/loss for the year</b></td></tr><tr><td width="71%" ></td><td width="14%" align="right" valign="middle" ><b>2023</b></td><td width="15%" align="right" valign="middle" ><b>2022</b></td></tr><tr><td width="71%" ></td><td width="14%" colspan="1" align="right" valign="middle" ><b>DKK</b></td><td width="15%" colspan="1" align="right" valign="middle" ><b>DKK</b></td></tr><tr><td width="71%" colspan="1" align="left" valign="middle" >Current tax for the year</td><td width="14%" align="right" valign="middle" > 459.375 </td><td width="15%" align="right" valign="middle" > 167.134 </td></tr><tr><td width="71%" colspan="1" align="left" valign="middle" >Tax adjustments of prior years</td><td width="14%" align="right" valign="middle" > 98 </td><td width="15%" align="right" valign="middle" > 749 </td></tr><tr><td width="71%" colspan="1" align="left" valign="middle" >Deferred tax credit for the year</td><td width="14%" align="right" valign="middle" >- 230.748 </td><td width="15%" align="right" valign="middle" > - </td></tr><tr><td width="71%" colspan="1" align="left" valign="middle" >Total</td><td width="14%" align="right" valign="middle" ><b> 228.725 </b></td><td width="15%" align="right" valign="middle" ><b> 167.883 </b></td></tr><tr><td colspan="3"></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 width="100%" colspan="4" align="left" valign="middle" ><b>Equity</b></td></tr><tr><td width="62%" ></td><td width="12%" colspan="1" align="right" valign="middle" >Share capital</td><td width="12%" colspan="1" align="right" valign="middle" >Retained earnings</td><td width="14%" colspan="1" align="right" valign="middle" >Total</td></tr><tr><td colspan="4"></td></tr><tr><td width="62%" ></td><td width="12%" colspan="1" align="right" valign="middle" >DKK</td><td width="12%" colspan="1" align="right" valign="middle" >DKK</td><td width="14%" colspan="1" align="right" valign="middle" >DKK</td></tr><tr><td width="62%" colspan="1" align="left" valign="middle" >Equity at 1 January</td><td width="12%" align="right" valign="middle" > 125.000 </td><td width="12%" align="right" valign="middle" > 7.808.968 </td><td width="14%" align="right" valign="middle" > 7.933.968 </td></tr><tr><td width="62%" colspan="1" align="left" valign="middle" >Net profit/loss for the year</td><td width="12%" align="right" valign="middle" > - </td><td width="12%" align="right" valign="middle" > 711.776 </td><td width="14%" align="right" valign="middle" > 711.776 </td></tr><tr><td colspan="4"></td></tr><tr><td width="62%" colspan="1" align="left" valign="middle" ><b>Equity at 31 December</b></td><td width="12%" align="right" valign="middle" ><b> 125.000 </b></td><td width="12%" align="right" valign="middle" ><b> 8.520.744 </b></td><td width="14%" align="right" valign="middle" ><b> 8.645.744 </b></td></tr><tr><td colspan="4"></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 width="100%" colspan="3" align="left" valign="middle" ><b>Contingent assets, liabilities and other financial obligations</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >The share capital consists of 125 shares of a nominal value of DKK 1,000. No shares carry any special rights. No</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >changes in share capital for the past five years.</td></tr><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >At 31 December 2023, the company had annual commitments under cancellable operating leases (rent agreeement)</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >as set out below</td></tr><tr><td width="71%" ></td><td width="14%" align="right" valign="middle" ><b>2023</b></td><td width="15%" align="right" valign="middle" ><b>2022</b></td></tr><tr><td width="71%" ></td><td width="14%" colspan="1" align="right" valign="middle" ><b>DKK</b></td><td width="15%" colspan="1" align="right" valign="middle" ><b>DKK</b></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Operating leases</b></td></tr><tr><td width="71%" colspan="1" align="left" valign="middle" >Within one year</td><td width="14%" align="right" valign="middle" > 613.600 </td><td width="15%" align="right" valign="middle" > 528.000 </td></tr><tr><td width="71%" colspan="1" align="left" valign="middle" >Greater than one year and less than three years</td><td width="14%" align="right" valign="middle" > 720.440 </td><td width="15%" align="right" valign="middle" > 132.000 </td></tr><tr><td width="71%" ></td><td width="14%" align="right" valign="middle" > 1.334.040 </td><td width="15%" align="right" valign="middle" > 660.000 </td></tr><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Lease starting from1 April 2024 and ending on 31 March 2026 can be terminated with 90 days notice period by either</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >party.</td></tr><tr><td colspan="3"></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 width="100%" colspan="1" align="left" valign="middle" ><b>Charges and securities</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >No security has been placed</td></tr><tr><td colspan="1"></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 width="100%" colspan="2" align="left" valign="middle" ><b>Related parties and ownership</b></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >Information about consolidated financial statements</td></tr><tr><td width="83%" colspan="1" align="left" valign="middle" ><b>Controlling interest</b></td><td width="17%" colspan="1" align="right" valign="middle" ><b>Basis</b></td></tr><tr><td width="83%" colspan="1" align="left" valign="middle" >Juniper Networks International BV</td><td width="17%" colspan="1" align="right" valign="middle" >Controlling shareholder</td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" ><b>Ownership</b></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >The following shareholders are recorded in the Company's register of shareholders as holding at least 5% of the</td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >votes or at least 5% of the share capital</td></tr><tr><td colspan="2"></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >Juniper Networks International BV</td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >Boeingavenue 240</td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >1119PZ</td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >Schiphol-Rijk</td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >Netherlands</td></tr></table> Regnskabsklasse B <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">Accounting Policies</td></tr><tr><td colspan="1">Basis of Preparation</td></tr><tr><td colspan="1">The Annual Report of Juniper Networks Denmark ApS for 2023 has been prepared in accordance with the provisions</td></tr><tr><td colspan="1">of the Danish Financial Statements Act applying to enterprises of reporting class B and elective choice of certain</td></tr><tr><td colspan="1">provisions applying to reporting class C entities.</td></tr><tr><td colspan="1">The accounting policies used in the preparation of the financial statements are consistent with those of last year.</td></tr><tr><td colspan="1">The Annual Report for 2023 is presented in DKK.</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">Recognition and measurement</td></tr><tr><td colspan="1">The Company has chosen IAS 11/IAS 18 as interpretation for revenue recognition. Revenues are recognised in the</td></tr><tr><td colspan="1">income statement as earned. Furthermore, value adjustments of financial assets and liabilities measured at fair value</td></tr><tr><td colspan="1">or amortised cost are recognised. Moreover, all expenses incurred to achieve the earnings for the year are recognised</td></tr><tr><td colspan="1">in the income statement, including depreciation, amortisation, impairment losses and provisions as well as reversals</td></tr><tr><td colspan="1">due to changed accounting estimates of amounts that have previously been recognised in the income statement.</td></tr><tr><td colspan="1">Assets are recognised in the balance sheet when it is probable that future economic benefits attributable to the asset</td></tr><tr><td colspan="1">will flow to the Company, and the value of the asset can be measured reliably.</td></tr><tr><td colspan="1">Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow out of the</td></tr><tr><td colspan="1">Company, and the value of the liability can be measured reliably.</td></tr><tr><td colspan="1">Assets and liabilities are initially measured at cost. Subsequently, assets and liabilities are measured as described for</td></tr><tr><td colspan="1">each item below.</td></tr><tr><td colspan="1">Certain financial assets and liabilities are measured at amortised cost, which involves the recognition of a constant</td></tr><tr><td colspan="1">effective interest rate over the maturity period. Amortised cost is calculated as original cost less any repayments and</td></tr><tr><td colspan="1">with addition/deduction of the cumulative amortisation of any difference between cost and the nominal amount. In</td></tr><tr><td colspan="1">this way, capital losses and gains are allocated over the maturity period.</td></tr><tr><td colspan="1">Recognition and measurement take into account predictable losses and risks occurring before the presentation of the</td></tr><tr><td colspan="1">Annual Report which confirm or invalidate affairs and conditions existing at the balance sheet date.</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">Translation policies</td></tr><tr><td colspan="1">The Company’s financial statements are presented in Danish Krone (DKK), which is also the company’s functional</td></tr><tr><td colspan="1">currency. Transactions in foreign currencies are initially recorded by the Company using spot rates on the date the</td></tr><tr><td colspan="1">transaction first qualifies for recognition. However, for practical reasons, the Company uses previous month end rate,</td></tr><tr><td colspan="1">if the same approximates the actual rate at the date of the transaction.</td></tr><tr><td colspan="1">At the end of each reporting period</td></tr><tr><td colspan="1">• foreign currency monetary items are translated using the closing rate;</td></tr><tr><td colspan="1">• non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the</td></tr><tr><td colspan="1">exchange rate at the date of the transaction; and</td></tr><tr><td colspan="1">• non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at</td></tr><tr><td colspan="1">the date when the fair value was determined.</td></tr><tr><td colspan="1">Exchange differences arising on the settlement of monetary items or on translating monetary items at rates different</td></tr><tr><td colspan="1">from those at which they were translated on initial recognition during the period or in previous annual financial</td></tr><tr><td colspan="1">statements are recognised in the statement of income in the period in which they arise.</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">Income 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">Revenue</td></tr><tr><td colspan="1">Revenue from sales support, marketing activities and customer support services is recognised in the income statement</td></tr><tr><td colspan="1">when delivery and transfer of risk has been made before year end.</td></tr><tr><td colspan="1">Revenue is recognised exclusive of VAT and net of discounts relating to sales.</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">Staff expenses</td></tr><tr><td colspan="1">Staff costs include wages and salaries, including compensated absence and pension to the Company's employees, as</td></tr><tr><td colspan="1">well as other social security contributions, etc. The item is net of refunds from public authorities.</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">Financial income and expenses</td></tr><tr><td colspan="1">Financial income and expenses are recognised in the income statement at the amounts relating to the financial year.</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">Tax on profit/loss for the year</td></tr><tr><td colspan="1">Tax for the year consists of current tax for the year and deferred tax credit for the year. The tax attributable to the</td></tr><tr><td colspan="1">profit for the year is recognised in the income statement, whereas the tax attributable to equity transactions is</td></tr><tr><td colspan="1">recognised directly in equity.</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">Balance Sheet</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">Receivables</td></tr><tr><td colspan="1">The Company has chosen IAS 39 as interpretation for impairment write-down of financial receivables. Receivables</td></tr><tr><td colspan="1">are measured at amortised cost. Write-down is made for bad debt losses where there is objective evidence that a</td></tr><tr><td colspan="1">receivable or a portfolio of receivables have been impaired. If there is objective evidence that an individual</td></tr><tr><td colspan="1">receivable has been impaired, write-down is made on an individual basis.</td></tr><tr><td colspan="1">Write-downs are calculated as the difference between the carrying amount of the receivables and the present value of</td></tr><tr><td colspan="1">the expected cash flows, including the realisable value of any collateral received. The effective interest rate for the</td></tr><tr><td colspan="1">individual receivable or portfolio is used as discount rate.</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">Prepayments</td></tr><tr><td colspan="1">Prepayments comprise costs incurred concerning subsequent financial years.</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">Deferred tax assets and liabilities</td></tr><tr><td colspan="1">Deferred income tax is measured using the balance sheet liability method in respect of temporary differences arising</td></tr><tr><td colspan="1">between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes on the basis</td></tr><tr><td colspan="1">of the intended use of the asset and settlement of the liability, respectively.</td></tr><tr><td colspan="1">Deferred tax assets, including the tax base of tax loss carry forwards, are measured at the value at which the asset is</td></tr><tr><td colspan="1">expected to be realised, either by elimination in tax on future earnings or by set off against deferred tax liabilities</td></tr><tr><td colspan="1">within the same legal tax entity.</td></tr><tr><td colspan="1">Deferred tax is measured on the basis of the tax rules and tax rates that will be effective under the legislation at the</td></tr><tr><td colspan="1">balance sheet date when the deferred tax is expected to crystallise as current tax. Any changes in deferred tax due to</td></tr><tr><td colspan="1">changes to tax rates are recognised in the income 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">Current tax receivables and liabilities</td></tr><tr><td colspan="1">Current tax liabilities and receivables are recognised in the balance sheet as the expected taxable income for the year</td></tr><tr><td colspan="1">adjusted for tax on taxable incomes for prior years and tax paid on account. Extra payments and repayment under the</td></tr><tr><td colspan="1">on account taxation scheme are recognised in the income statement in financial income and expenses.</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">Equity</td></tr><tr><td colspan="1">Proposed Dividends</td></tr><tr><td colspan="1">Dividend proposed for the year is recognised as a liability once adopted at the annual general meeting (declaration</td></tr><tr><td colspan="1">date). Dividends expected to be distributed for the financial year are presented as a separate item under "Equity".</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">Liabilities</td></tr><tr><td colspan="1">Financial liabilities comprising amounts owed to trade payables, payables to group enterprises and other payables are</td></tr><tr><td colspan="1">measured at net realisable value.</td></tr></table> Årsrapport 34082200 KPMG Acor Tax Partnerselskab Tuborg Havnevej 18, 5 2900 Hellerup xWizard version 1.1.1270.0, by EasyX Aps. www.easyx.eu 2022-01-01 2022-12-31 Revisionspåtegning Grundlag for konklusion Konklusion Ketan Patel Stephen Patrick Byrne Ketan Patel 14841994 2210730 12631264 11924502 8262 58988 656036 167883 488153 488153 8 119880 119880 119880 1061836 0 421478 858945 230748 2573007 10544753 13117760 13237640 125000 8520744 8645744 113484 0 223414 4254998 4591896 13237640 119880 119880 119880 1091131 35845 230369 0 0 1357345 8752488 10109833 10229713 125000 7808968 7933968 173585 184353 0 1937807 2295745 10229713 EY Godkendt Revisionspartnerselskab 30700228 Allan Nørgaard State Authorised Public Accountant mne35501 Dirch Passers Allé 36, P.O Box 250, 2000 Frederiksberg,