549300KM8QVF7WR40664 2024-01-01 2024-12-31 549300KM8QVF7WR40664 2023-01-01 2023-12-31 549300KM8QVF7WR40664 2024-01-01 549300KM8QVF7WR40664 2024-12-31 549300KM8QVF7WR40664 2023-01-01 549300KM8QVF7WR40664 2023-12-31 549300KM8QVF7WR40664 2024-01-01 ifrs-full:IssuedCapitalMember 549300KM8QVF7WR40664 2024-01-01 ifrs-full:TreasurySharesMember 549300KM8QVF7WR40664 2024-01-01 ifrs-full:RetainedEarningsMember 549300KM8QVF7WR40664 2024-01-01 ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember 549300KM8QVF7WR40664 2024-01-01 nnit:TaxIncludedInOtherReservesMember 549300KM8QVF7WR40664 2024-01-01 ifrs-full:OtherReservesMember 549300KM8QVF7WR40664 2024-01-01 nnit:ProposedDividendsMember 549300KM8QVF7WR40664 2024-01-01 2024-12-31 ifrs-full:RetainedEarningsMember 549300KM8QVF7WR40664 2024-01-01 2024-12-31 ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember 549300KM8QVF7WR40664 2024-01-01 2024-12-31 nnit:TaxIncludedInOtherReservesMember 549300KM8QVF7WR40664 2024-01-01 2024-12-31 ifrs-full:OtherReservesMember 549300KM8QVF7WR40664 2024-01-01 2024-12-31 ifrs-full:TreasurySharesMember 549300KM8QVF7WR40664 2024-12-31 ifrs-full:IssuedCapitalMember 549300KM8QVF7WR40664 2024-12-31 ifrs-full:TreasurySharesMember 549300KM8QVF7WR40664 2024-12-31 ifrs-full:RetainedEarningsMember 549300KM8QVF7WR40664 2024-12-31 ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember 549300KM8QVF7WR40664 2024-12-31 nnit:TaxIncludedInOtherReservesMember 549300KM8QVF7WR40664 2024-12-31 ifrs-full:OtherReservesMember 549300KM8QVF7WR40664 2024-12-31 nnit:ProposedDividendsMember 549300KM8QVF7WR40664 2023-01-01 ifrs-full:IssuedCapitalMember 549300KM8QVF7WR40664 2023-01-01 ifrs-full:TreasurySharesMember 549300KM8QVF7WR40664 2023-01-01 ifrs-full:RetainedEarningsMember 549300KM8QVF7WR40664 2023-01-01 ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember 549300KM8QVF7WR40664 2023-01-01 nnit:TaxIncludedInOtherReservesMember 549300KM8QVF7WR40664 2023-01-01 ifrs-full:OtherReservesMember 549300KM8QVF7WR40664 2023-01-01 nnit:ProposedDividendsMember 549300KM8QVF7WR40664 2023-01-01 2023-12-31 nnit:ProposedDividendsMember 549300KM8QVF7WR40664 2023-01-01 2023-12-31 ifrs-full:RetainedEarningsMember 549300KM8QVF7WR40664 2023-01-01 2023-12-31 ifrs-full:OtherReservesMember 549300KM8QVF7WR40664 2023-01-01 2023-12-31 ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember 549300KM8QVF7WR40664 2023-01-01 2023-12-31 nnit:TaxIncludedInOtherReservesMember 549300KM8QVF7WR40664 2023-01-01 2023-12-31 ifrs-full:IssuedCapitalMember 549300KM8QVF7WR40664 2023-01-01 2023-12-31 ifrs-full:TreasurySharesMember 549300KM8QVF7WR40664 2023-12-31 ifrs-full:IssuedCapitalMember 549300KM8QVF7WR40664 2023-12-31 ifrs-full:TreasurySharesMember 549300KM8QVF7WR40664 2023-12-31 ifrs-full:RetainedEarningsMember 549300KM8QVF7WR40664 2023-12-31 ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember 549300KM8QVF7WR40664 2023-12-31 nnit:TaxIncludedInOtherReservesMember 549300KM8QVF7WR40664 2023-12-31 ifrs-full:OtherReservesMember 549300KM8QVF7WR40664 2023-12-31 nnit:ProposedDividendsMember iso4217:DKK iso4217:DKK xbrli:shares NNIT is a leading provider of IT and business  solutions in Denmark, Europe, the US and Asia.   A/S 1000000 30000000 1851000000 1372000000 479000000 1728000000 1283000000 445000000 68000000 294000000 117000000 63000000 266000000 116000000 0 0 -1000000 0 69000000 69000000 48000000 47000000 46000000 -19000000 11000000 44000000 15000000 16000000 46000000 17000000 5000000 -2000000 14000000 11000000 41000000 -18000000 1000000 6000000 42000000 12000000 0 24000000 1000000 30000000 0 24000000 42000000 -12000000 0.03 0.03 0.24 0.24 0.03 0.03 1.2 1.2 1000000 30000000 4000000 56000000 4000000 -4000000 66000000 73000000 16000000 34000000 24000000 -14000000 40000000 -36000000 -590000000 -652000000 -56000000 12000000 0 0 -56000000 -652000000 30000000 214000000 -6000000 -202000000 -96000000 46000000 0 -97000000 254000000 158000000 208000000 -6000000 -105000000 254000000 51000000 18000000 1000000 24000000 46000000 2000000 34000000 0 18000000 1001000000 51000000 900000000 0 -34000000 0 904000000 -34000000 -4000000 250000000 1000000 558000000 63000000 250000000 1000000 556000000 22000000 767000000 15000000 127000000 13000000 29000000 12000000 6000000 704000000 8000000 45000000 14000000 870000000 827000000 78000000 113000000 12000000 5000000 9000000 0 171000000 0 310000000 13000000 0 6000000 27000000 12000000 267000000 10000000 335000000 31000000 25000000 0 214000000 1119000000 969000000 1000000 3000000 2000000 3000000 470000000 16000000 451000000 67000000 4000000 30000000 27000000 17000000 19000000 20000000 74000000 67000000 51000000 57000000 15000000 98000000 122000000 70000000 0 39000000 44000000 25000000 27000000 26000000 10000000 28000000 158000000 738000000 254000000 858000000 117000000 94000000 22000000 100000000 69000000 1707000000 1977000000 241000000 527000000 815000000 1707000000 1977000000 250000000 -1000000 556000000 27000000 -5000000 22000000 0 827000000 1000000 0 1000000 41000000 42000000 46000000 -5000000 41000000 0 1000000 46000000 -5000000 41000000 1000000 1000000 250000000 -1000000 558000000 73000000 -10000000 63000000 0 870000000 250000000 -1000000 526000000 46000000 -7000000 39000000 0 0 814000000 30000000 0 30000000 -18000000 12000000 -1000000 -19000000 2000000 -17000000 -17000000 0 0 29000000 -19000000 2000000 0 0 1000000 0 0 0 1000000 250000000 -1000000 556000000 27000000 -5000000 22000000 0 827000000 <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.329em;"><span class="stl_792 stl_08 stl_341" style="word-spacing:0.0154em;">1. Basis of preparation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.1531em;"><span class="stl_264 stl_08 stl_320" style="word-spacing:-0.0387em;">Measurement basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.9862em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0399em;">The consolidated financial statements have been  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.8193em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0367em;">prepared under the historical cost convention.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.4862em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0364em;">The accounting policies set out below have been  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.3193em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">applied consistently in the preparation of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.1525em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0385em;">consolidated financial statements for all the years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.9856em;"><span class="stl_202 stl_08 stl_369">presented.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.6525em;"><span class="stl_264 stl_08 stl_233" style="word-spacing:-0.0331em;">Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.4856em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0338em;">Considering all the accounting policies applied,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.3187em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0354em;">Management regards the following as the most  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:35.1518em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">material accounting policies for the recognition and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:35.985em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0375em;">measurement of reported amounts:  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.329em;"><span class="stl_792 stl_08 stl_341" style="word-spacing:0.0154em;">1. Basis of preparation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3825em;"><span class="stl_527 stl_08 stl_100" style="word-spacing:0.2712em;">1.1 Summary</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:9.996em;top:10.3825em;"><span class="stl_527 stl_08 stl_117" style="word-spacing:-0.0169em;">of material accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.8218em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0376em;">The consolidated financial statements are prepared  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.655em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0339em;">in accordance with IFRS Accounting Standards as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.4881em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0382em;">adopted by the EU and further requirements in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.3212em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0405em;">Danish financial statements Act. The Consolidated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.1543em;"><span class="stl_202 stl_08 stl_227" style="word-spacing:-0.032em;">Financial Statements are prepared in accordance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.9875em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">with IFRS Accounting Standards and interpretations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.8206em;z-index:350;"><span class="stl_202 stl_08 stl_181" style="word-spacing:-0.0271em;">applicable to the 2024 financial year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.4875em;"><span class="stl_774 stl_08 stl_309" style="word-spacing:-0.0433em;">The consolidated financial statements of NNIT A/S  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.3206em;"><span class="stl_202 stl_08 stl_166" style="word-spacing:-0.025em;">for the year ended 31 December 2024 were author-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.1537em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">ised for issue in accordance with resolution of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.9868em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0357em;">Board of directors as of the 18th of February 2025,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.82em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0354em;">with the aim to have shareholders approval on the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.6531em;"><span class="stl_202 stl_08 stl_67" style="word-spacing:-0.0297em;">annual general meeting scheduled for 13th of March  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.4862em;"><span class="stl_202 stl_08 stl_454">2025.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.1531em;"><span class="stl_264 stl_08 stl_320" style="word-spacing:-0.0387em;">Measurement basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.9862em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0399em;">The consolidated financial statements have been  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.8193em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0367em;">prepared under the historical cost convention.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.4862em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0364em;">The accounting policies set out below have been  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.3193em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">applied consistently in the preparation of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.1525em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0385em;">consolidated financial statements for all the years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.9856em;"><span class="stl_202 stl_08 stl_369">presented.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.6525em;"><span class="stl_264 stl_08 stl_233" style="word-spacing:-0.0331em;">Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.4856em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0338em;">Considering all the accounting policies applied,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.3187em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0354em;">Management regards the following as the most  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:35.1518em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">material accounting policies for the recognition and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:35.985em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0375em;">measurement of reported amounts:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.8181em;"><span class="stl_264 stl_08 stl_424" style="word-spacing:-0.0303em;">Recognition of revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.6512em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">Revenue is the fair value of the transaction price  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:13.4843em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0399em;">or receivable from the sale of our services and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.3175em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">customized. IT applications and is the gross sales  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.1506em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.0331em;">price less VAT and any price reductions in the form  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.9837em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">of discounts and rebates.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.6506em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0339em;">Revenue can be recognized over time or at a point  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:18.4837em;"><span class="stl_202 stl_08 stl_146" style="word-spacing:-0.0305em;">in time.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.1506em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0345em;">Revenue is recognized over time when an asset on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.9837em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">behalf of a customer is created with no alternative  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.8168em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0347em;">use and NNIT has an enforceable right to payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:22.65em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0339em;">for performance completed year to date, or the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.4831em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">customer obtains control of a service and thus has  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:24.3162em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0434em;">the ability to direct the use and obtain the benefit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.1493em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0433em;">from the service.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.8162em;"><span class="stl_202 stl_08 stl_695" style="word-spacing:-0.0508em;">NNIT has two different types of businesses 'projects'  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.6493em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">and 'Service Level agreements' (SLA) where revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:28.4825em;"><span class="stl_202 stl_08 stl_67" style="word-spacing:-0.0298em;">recognition is treated differently. Refer to note 1.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.3156em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0383em;">General accounting policies for further details.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:30.9825em;"><span class="stl_264 stl_08 stl_230">Projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.8156em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">The project business is characterized by being  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.6487em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.037em;">deliveries which in nature are negotiated contracts  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:33.4818em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0425em;">based on consumption and typically comprise advi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:34.315em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0421em;">sory, design and development activities. Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.1481em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0351em;">will be recognized over time, as the 'no alternative  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.9812em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0346em;">use' criteria's are met, using 'the percentage of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:36.8143em;"><span class="stl_202 stl_08 stl_269" style="word-spacing:-0.0318em;">completion method'.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.83em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0427em;">For fixed priced projects the proportion of revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.6631em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0375em;">to be recognized in a particular period is calcu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.4962em;"><span class="stl_202 stl_08 stl_67" style="word-spacing:-0.0297em;">lated according to the percentage of completion  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.3293em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0436em;">of the project. For most contracts this is meas-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.1625em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0362em;">ured by reference to the costs of performing the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.9956em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0365em;">contract incurred up to the relevant balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.8287em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0364em;">date as a percentage of the total estimated costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:17.6618em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">of performing the contract. Reference to cost is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:18.495em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0398em;">assessed to be the most appropriate method as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:19.3281em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">incurred hours are the value driver for the projects.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.1612em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">The sales value agreed in the contract is recognized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.9943em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0395em;">over the contract period using above method.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:22.6612em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.039em;">For time-and material contracts, we recognize  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:23.4943em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0368em;">revenue as performance takes place based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:24.3275em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0401em;">actual hours incurred.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:25.9943em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0356em;">Contracts where the recognized revenue from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:26.8275em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.037em;">the work performed exceeds progress billings are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:27.6606em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0337em;">recognized as 'work in progress' in the balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:28.4937em;"><span class="stl_202 stl_08 stl_17" style="word-spacing:-0.0435em;">sheet under assets.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:30.1606em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0375em;">Contracts for which progress billings exceed the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:30.9937em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0338em;">revenue are recognized as 'prepayments received'  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:31.8268em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0354em;">under liabilities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:33.4937em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0367em;">If it is likely that the total costs in relation to a long-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:34.3268em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">term contract will exceed the total revenue on a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:35.16em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0434em;">specific project, the expected loss is recognized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:35.9931em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0354em;">immediately in the income statement in the current  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:36.8262em;"><span class="stl_202 stl_08 stl_243">period.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_170" style="word-spacing:0.142em;">1.3 Changes</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:9.538em;top:5.658em;"><span class="stl_527 stl_08 stl_26" style="word-spacing:-0.0209em;">in accounting policies, estimates and disclosures  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">NNIT has applied relevant new or amended IFRS  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.9306em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0362em;">Accounting Standards and interpretations (IFRIC) as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.7637em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">adopted by the EU and which are effective for the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.5968em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0335em;">financial year 1 January – 31 December 2024. NNIT  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.4299em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0404em;">has assessed that the new or amended standards  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.2631em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">and interpretations. The amendments to IAS 1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.0962em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">provide guidance and examples to help entities in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.9293em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0403em;">classifying liabilities as either current or non-current  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.7624em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0354em;">and related disclosures. The amendments have had  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.5956em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.036em;">an impact on NNIT Group’s disclosures related the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.4287em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">Group’s loan facilities and related covenants, but not  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.2618em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">on the measurement, recognition or presentation of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.0949em;"><span class="stl_202 stl_08 stl_68" style="word-spacing:-0.029em;">any items in NNITs Annual Report for 2024.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.7618em;"><span class="stl_264 stl_08 stl_255" style="word-spacing:-0.0368em;">1.3.1 Standards issued but not yet effective  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.5949em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">The new and amended standards and interpreta-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.4281em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0416em;">tions that are issued, but not yet effective, up to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.2612em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">date of issuance of the Group’s financial statements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.0943em;"><span class="stl_202 stl_08 stl_34" style="word-spacing:-0.0322em;">are disclosed below. The Group intends to adopt  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.9274em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">these new and amended standards and interpreta-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.7606em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.043em;">tions, if applicable, when they become effective.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.4274em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0403em;">Only changes expected to have an impact on on the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.2606em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0407em;">Group’s financial position, performance, presenta-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.0937em;"><span class="stl_774 stl_08 stl_257" style="word-spacing:-0.0333em;">tion and/or disclosures is listed.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.7606em;"><span class="stl_264 stl_08 stl_233" style="word-spacing:-0.0332em;">IFRS 18 Presentation and Disclosure in Financial  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.5937em;"><span class="stl_264 stl_08 stl_188">Statements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.4268em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0351em;">In April 2024, the IASB issued IFRS 18, which replaces  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.2599em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0422em;">IAS 1 Presentation of Financial Statements. IFRS  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.0931em;"><span class="stl_202 stl_08 stl_211" style="word-spacing:-0.0314em;">18 introduces new requirements for presentation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.9262em;z-index:1234;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0404em;">within the statement of profit or loss, including spe</span><span class="stl_202 stl_08 stl_831">c</span><span class="stl_202 stl_08 stl_831">-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.7593em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">ified totals and subtotals. Furthermore, entities are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:7.0924em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0379em;">required to classify all income and expenses within  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:7.9255em;"><span class="stl_202 stl_08 stl_309" style="word-spacing:-0.0432em;">the statement of profit or loss into one of five cate-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:8.7587em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0408em;">gories: operating, investing, financing, income taxes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:9.5918em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0408em;">and discontinued operations, whereof the first three  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:10.4249em;"><span class="stl_202 stl_08 stl_112" style="word-spacing:-0.0231em;">are new.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:12.0918em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0364em;">It also requires disclosure of newly defined manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:12.9249em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0384em;">ment-defined performance measures, subtotals of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:13.7581em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0358em;">income and expenses, and includes new require-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:14.5912em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0427em;">ments for aggregation and disaggregation of finan-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:15.4243em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.04em;">cial information based on the identified ‘roles’ of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:16.2574em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0436em;">primary financial statements (PFS) and the notes.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:17.9243em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">In addition, narrow-scope amendments have been  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:18.7574em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">made to IAS 7 Statement of Cash Flows, which  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:19.5906em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0381em;">include changing the starting point for determining  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:20.4237em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0408em;">cash flows from operations under the indirect  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:21.2568em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">method, from ‘profit or loss’ to ‘operating profit or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:22.0899em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.043em;">loss’ and removing the optionality around classifi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:22.923em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">cation of cash flows from dividends and interest. In  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:23.7562em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">addition, there are consequential amendments to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:24.5893em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0393em;">several other standards.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:26.2562em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0394em;">IFRS 18, and the amendments to the other stand-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:27.0893em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0423em;">ards, is effective for reporting periods beginning  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:27.9224em;"><span class="stl_202 stl_08 stl_186" style="word-spacing:-0.0317em;">on or after 1 January 2027, but earlier application is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:28.7555em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0398em;">permitted and must be disclosed. IFRS 18 will apply  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:29.5887em;"><span class="stl_202 stl_08 stl_408">retrospectively.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:31.2555em;"><span class="stl_202 stl_08 stl_309" style="word-spacing:-0.0433em;">The Group is currently working to identify all impacts  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:32.0887em;"><span class="stl_202 stl_08 stl_581" style="word-spacing:-0.0421em;">the amendments will have on the primary financial-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:32.9218em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0432em;">statements and notes to the financial statements.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_176" style="word-spacing:0.1627em;">1.4 General</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:9.326em;top:5.658em;"><span class="stl_527 stl_08 stl_149" style="word-spacing:-0.0181em;">accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_264 stl_08 stl_386" style="word-spacing:-0.0319em;">Principles of consolidation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.9306em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0404em;">The consolidated financial statements include the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.7637em;"><span class="stl_774 stl_08 stl_530" style="word-spacing:-0.0424em;">financial statements of NNIT A/S (parent company)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.5968em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">and entities over which the Group has control.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.4299em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">The Group controls an entity when the Group is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.2631em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0368em;">exposed to, or has rights to, variable returns from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.0962em;"><span class="stl_202 stl_08 stl_251" style="word-spacing:-0.046em;">its involvement with the entity and has the ability  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.9293em;"><span class="stl_202 stl_08 stl_581" style="word-spacing:-0.042em;">to affect those returns through its power over the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.7624em;"><span class="stl_774 stl_08 stl_259" style="word-spacing:-0.0436em;">entity. NNIT A/S and its subsidiaries are collectively  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.5956em;"><span class="stl_202 stl_08 stl_68" style="word-spacing:-0.0291em;">referred to as the Group.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.2624em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0396em;">The consolidated financial statements are based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.0956em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0375em;">the financial statements of the Parent Company and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.9287em;"><span class="stl_202 stl_08 stl_227" style="word-spacing:-0.0322em;">the subsidiaries, and are prepared by combining  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.7618em;"><span class="stl_202 stl_08 stl_424" style="word-spacing:-0.0306em;">items of a similar nature and eliminating intercom-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.5949em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0395em;">pany transactions, shareholdings, balances and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.4281em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">unrealized intercompany profits and losses. The  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.2612em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">consolidated financial statements are based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.0943em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">financial statements of Group companies prepared  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.9274em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">in accordance with the Group’s accounting policies.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.5943em;"><span class="stl_264 stl_08 stl_243" style="word-spacing:-0.0391em;">Segment Reporting  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.4274em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">Segment performance is evaluated on the basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.2606em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0385em;">of the operating profit consistent with the consoli-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.0937em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0427em;">dated financial statements.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.7606em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">Operating segments are reported in a manner  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.5937em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0375em;">consistent with the internal reporting provided to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.4268em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0352em;">Group Management and the Board of Directors.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8024em;"><span class="stl_264 stl_08 stl_227" style="word-spacing:-0.0319em;">Continuing and Discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.6356em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0342em;">Separation of operations into continuing and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.4687em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0404em;">discontinued operations is based on an identifica-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:35.3018em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0403em;">tion of contracts and revenues, direct employees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.1349em;"><span class="stl_202 stl_08 stl_235" style="word-spacing:-0.0414em;">and costs as well as identification of time spend  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.9681em;z-index:3549;"><span class="stl_202 stl_08 stl_186" style="word-spacing:-0.0318em;">by employees in one category related to the other.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:37.8012em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">Shared costs are split based on allocation between  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:38.6343em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0406em;">the two categories based on estimates future split.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.0924em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0363em;">An impairment loss is recognised for any initial or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.9255em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0398em;">subsequent write-down of the asset to fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:8.7587em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">less costs to sell. A gain is recognised for any subse-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.5918em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">quent increases in fair value previously recognised.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.4249em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0362em;">A gain or loss not previously recognised by the date  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.2581em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0384em;">of the sale of the non-current asset is recognised at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.0912em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.033em;">the date of derecognition.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.4668em;"><span class="stl_264 stl_08 stl_387" style="word-spacing:-0.0332em;">Acquisition of subsidiaries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.2999em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">On acquisition of subsidiaries, the acquisition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.1331em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.041em;">method is applied, and identifiable assets and liabil-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.9662em;"><span class="stl_202 stl_08 stl_73" style="word-spacing:-0.0325em;">ities are recognized and generally measured at fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.7993em;"><span class="stl_202 stl_08 stl_340" style="word-spacing:-0.0341em;">value at the date control was achieved.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.4662em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0401em;">Identifiable intangible assets are recognized if they  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.2993em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0374em;">can be separated, and the fair value can be reliably  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.1324em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0335em;">measured. Deferred tax on revaluations is recog-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.9656em;"><span class="stl_202 stl_08 stl_132">nized.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.6324em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">Any positive differences between fair value of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:24.4656em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0358em;">consideration transferred and fair value of net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.2987em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0343em;">assets acquired on acquisition of subsidiaries are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.1318em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0344em;">recognized as goodwill. Consideration transferred  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.9649em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0349em;">consists of shares, contingent consideration as well  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.798em;"><span class="stl_202 stl_08 stl_309" style="word-spacing:-0.043em;">as cash and cash equivalents.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.4649em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">Goodwill is not amortized but is tested annually for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:30.298em;"><span class="stl_202 stl_08 stl_529">impairment.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.9649em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0344em;">Transactions costs are recognized as operating  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.7981em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0399em;">costs as they have incurred.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:34.4649em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.034em;">If the initial accounting for business combination  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.2981em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">can be determined only preliminary by the end of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:36.1312em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0406em;">the period in which the combination is affected,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:36.9643em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0374em;">adjustments made to the provisional fair value of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:37.7974em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0382em;">acquired net assets or cost of the acquisition within  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:6.9716em;"><span class="stl_202 stl_08 stl_68" style="word-spacing:-0.0291em;">12 months of the acquisition date are adjusted to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:7.8047em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0377em;">the initial goodwill.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.4716em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.033em;">Acquired entities are recognized in the consoli-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.3047em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">dated financial statements at the date control was  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.1379em;"><span class="stl_202 stl_08 stl_203">achieved.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.8047em;"><span class="stl_264 stl_08 stl_146" style="word-spacing:-0.03em;">Translation of foreign currency  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.6379em;"><span class="stl_610 stl_08 stl_581" style="word-spacing:-0.0423em;">Functional currency and presentation currency  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:14.471em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">The financial statement items for each of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.3041em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0373em;">Group’s entities are measured in the currency used  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.1372em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">in the economic environment in which the entity  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.9703em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0402em;">operates (functional currency).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.6372em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0401em;">The consolidated financial statements are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:19.4703em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0375em;">presented in Danish kroner (DKK).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:21.1372em;"><span class="stl_610 stl_08 stl_531" style="word-spacing:-0.034em;">Transactions and balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:21.9703em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0341em;">Transactions in foreign currencies within the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:22.8035em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0385em;">are translated into the functional currency at the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.6366em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0357em;">exchange rate at the transaction date. Receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:24.4697em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0337em;">and liabilities in foreign currencies that have not  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:25.3028em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.037em;">been settled at the balance sheet date are trans-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:26.136em;"><span class="stl_202 stl_08 stl_424" style="word-spacing:-0.0308em;">lated at the exchange rate at the balance sheet date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:27.8028em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.0326em;">Realized and unrealized exchange rate adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:28.636em;"><span class="stl_202 stl_08 stl_386" style="word-spacing:-0.0327em;">are recognized in the income statement under  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:29.4691em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0392em;">“financial income and expenses”.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:31.136em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">Currency translation for foreign operations in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:31.9691em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0365em;">financial statements of foreign subsidiaries' balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:32.8022em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.036em;">sheet items are translated to Danish kroner (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:33.6353em;"><span class="stl_202 stl_08 stl_215" style="word-spacing:-0.0314em;">at the exchange rate at the balance sheet date, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:34.4685em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0338em;">income statement items are translated using the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:35.3016em;"><span class="stl_202 stl_08 stl_422" style="word-spacing:-0.0268em;">average exchange rate.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:36.9685em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0344em;">Exchange differences arising from:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:6.9685em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.457em;top:6.9685em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0392em;">the translation of subsidiaries’ net assets at the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.457em;top:7.8016em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.034em;">beginning of the financial year at exchange rates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.457em;top:8.6347em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">at the balance sheet date and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:9.7041em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.457em;top:9.7041em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0378em;">the translation of subsidiaries’ income statements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.457em;top:10.5372em;"><span class="stl_202 stl_08 stl_211" style="word-spacing:-0.0312em;">at exchange rates at the balance sheet date  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:11.6066em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.457em;top:11.6066em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.036em;">exchange rate adjustments of loans, which are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.457em;top:12.4397em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0395em;">seen as part of the net investment in foreign  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.457em;top:13.2729em;"><span class="stl_202 stl_08 stl_492">subsidiaries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:14.9397em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0336em;">are recognized in ‘exchange rate adjustments’ in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:15.7729em;"><span class="stl_202 stl_08 stl_73" style="word-spacing:-0.0325em;">other comprehensive income and presented in a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:16.606em;"><span class="stl_202 stl_08 stl_581" style="word-spacing:-0.0421em;">separate reserve within equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:18.2728em;"><span class="stl_264 stl_08 stl_276">Costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:19.106em;"><span class="stl_610 stl_08 stl_245" style="word-spacing:-0.0353em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:19.9391em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0399em;">The cost of goods sold comprises costs paid in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:20.7722em;"><span class="stl_202 stl_08 stl_11" style="word-spacing:-0.0263em;">order to generate revenue for the year, including  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:21.6053em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.041em;">amortization and depreciation, share-based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:22.4385em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0385em;">compensation and salaries.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:24.1053em;"><span class="stl_610 stl_08 stl_230" style="word-spacing:-0.0407em;">Sales and marketing costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:24.9385em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0408em;">Sales and marketing costs comprise costs in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:25.7716em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0374em;">form of salaries and share-based compensation for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:26.6047em;"><span class="stl_202 stl_08 stl_89" style="word-spacing:-0.0452em;">sales and marketing staff, advertising costs, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:27.4378em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0396em;">amortization and depreciation.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:29.1047em;"><span class="stl_610 stl_08 stl_250" style="word-spacing:-0.0429em;">Administrative expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:29.9378em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0426em;">Administrative expenses comprise costs in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:30.771em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0374em;">form of share-based compensation and salaries for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:31.6041em;"><span class="stl_202 stl_08 stl_89" style="word-spacing:-0.0451em;">administrative staff and amortization and depreci-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:32.4372em;"><span class="stl_202 stl_08 stl_236">ation.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:34.1041em;"><span class="stl_610 stl_08 stl_492" style="word-spacing:-0.0337em;">Special Items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:34.9372em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">Special items comprise costs or income that cannot  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:35.7703em;"><span class="stl_202 stl_08 stl_658" style="word-spacing:-0.0454em;">be attributed directly to the Group’s ordinary activ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:36.6035em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">ities and are non-recurring of nature. Such costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:37.4366em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0364em;">and income include the cost related to significant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:38.2697em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">restructuring of the cost base and processes as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:39.1028em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">well as restructuring costs related to resignation of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0412em;">employees. Further special items include significant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_523" style="word-spacing:-0.0482em;">cost related to M&amp;A activities, earn-out payments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6378em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">related to acquisitions where earn-out is in part  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.471em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0349em;">subject to the selling shareholders' continued  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3041em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">employment during the accrual period, redun-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1372em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0352em;">dancy cost related to members of Group Manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.9703em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">ment, impairment of assets and gains and losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.8035em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0385em;">regarding disposal of activities or subsidiaries.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4703em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0338em;">Special items are shown separately in the Group to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.3035em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0385em;">give a true and fair presentation of the Group’s ordi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1366em;"><span class="stl_202 stl_08 stl_89" style="word-spacing:-0.0452em;">nary operations.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.9691em;"><span class="stl_264 stl_08 stl_335">Tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.8022em;"><span class="stl_202 stl_08 stl_147" style="word-spacing:-0.0377em;">Income tax comprises current tax and deferred tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.6353em;"><span class="stl_202 stl_08 stl_373" style="word-spacing:-0.0303em;">for the year, and is recognized as follows: The amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.4685em;"><span class="stl_202 stl_08 stl_59" style="word-spacing:-0.0387em;">that can be allocated to the net profit for the year is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3016em;"><span class="stl_202 stl_08 stl_175" style="word-spacing:-0.0364em;">recognized in the income statement, and the amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.1347em;"><span class="stl_202 stl_08 stl_409" style="word-spacing:-0.0315em;">that relates to items recognized in other comprehen-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.9678em;"><span class="stl_774 stl_08 stl_38" style="word-spacing:-0.0383em;">sive income and/or equity respectively is recognized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.801em;"><span class="stl_774 stl_08 stl_161" style="word-spacing:-0.0348em;">in other comprehensive income and/ or equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.4678em;"><span class="stl_202 stl_08 stl_215" style="word-spacing:-0.0316em;">Deferred tax is measured according to the balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:35.301em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.038em;">sheet-based liability method on all temporary differ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.1341em;"><span class="stl_202 stl_08 stl_17" style="word-spacing:-0.0439em;">ences between the carrying amount and tax base of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.9672em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0414em;">assets and liabilities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8035em;"><span class="stl_264 stl_08 stl_211" style="word-spacing:-0.0305em;">Financial items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6366em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0366em;">Financial income and expenses comprise interest,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4697em;"><span class="stl_202 stl_08 stl_423" style="word-spacing:-0.0313em;">realized and unrealized gains and losses from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3028em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0394em;">exchange rate adjustments, fair value adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0423em;">on forward contracts and the cumulative value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.9691em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">adjustment of these instruments transferred from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8022em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0426em;">the hedging reserve within equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4691em;"><span class="stl_202 stl_08 stl_215" style="word-spacing:-0.0316em;">Interest income is recognized on an accrual basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.3022em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0384em;">according to the effective interest rate method.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.2985em;"><span class="stl_264 stl_08 stl_428" style="word-spacing:-0.0471em;">Service Level Agreements (SLA)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.1316em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0443em;">The SLA business comprise infrastructure and appli-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.9647em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.038em;">cation outsourcing services and requires the perfor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.7978em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0419em;">mance of certain performance obligations typically  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:28.631em;"><span class="stl_202 stl_08 stl_494" style="word-spacing:-0.0444em;">defined as service levels. As described below under  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.4641em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0396em;">“Outsourcing contracts”, the revenue under an  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:30.2972em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0366em;">outsourcing contract will be recognized over time.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.9641em;"><span class="stl_264 stl_08 stl_120" style="word-spacing:-0.0357em;">Outsourcing contracts  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.7972em;"><span class="stl_202 stl_08 stl_510" style="word-spacing:-0.0482em;">Outsourcing contracts consist of two activities,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:33.6303em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.036em;">preparatory project (such as transition and transfor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:34.4635em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0389em;">mation) and operation of the IT systems e.g. applica-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.2966em;"><span class="stl_202 stl_08 stl_528" style="word-spacing:-0.0459em;">tion, servers and infrastructure. These identifiable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:36.1297em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0393em;">components are accounted for differently to reflect  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:36.9628em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0437em;">the substance of the transaction.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:6.9628em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0411em;">The total contract value of the outsourcing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:7.796em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">contracts will be split into the different perfor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:8.6291em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">mance obligations depending on the activities to be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:9.4622em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">delivered. NNIT will profit align between the perfor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:10.2953em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0399em;">mance obligations within the contract (expected  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.1285em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.0331em;">cost plus margin approach).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.7953em;"><span class="stl_264 stl_08 stl_38">Transition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.6285em;"><span class="stl_202 stl_08 stl_143" style="word-spacing:-0.025em;">Transition is:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.6978em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:14.6979em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">Basic transfer of services and responsibilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.7672em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:15.7672em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0395em;">The minimum activities required that enable the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:16.6004em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">delivery organization to take over operation of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:17.4335em;z-index:2978;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0336em;">the current or similar services for the customer.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:19.1107em;"><span class="stl_833 stl_08 stl_21" style="word-spacing:-0.0398em;">The transition phase takes place in the period between  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:19.9438em;"><span class="stl_833 stl_08 stl_195" style="word-spacing:-0.0403em;">contract signing and service start up (operation).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:21.6107em;"><span class="stl_833 stl_08 stl_444" style="word-spacing:-0.0446em;">Activities performed in the transition phase do not  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:22.4438em;"><span class="stl_833 stl_08 stl_273" style="word-spacing:-0.0405em;">transfer services to the customer as they are seen as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:23.277em;"><span class="stl_833 stl_08 stl_21" style="word-spacing:-0.0409em;">‘start-up’ costs and therefore revenue cannot be recog-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:24.1107em;"><span class="stl_833 stl_08 stl_421" style="word-spacing:-0.0421em;">nized as the activities are performed but will be recog-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:24.9438em;"><span class="stl_833 stl_08 stl_261" style="word-spacing:-0.0346em;">nized over the operation period. Cost regarding the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:25.777em;"><span class="stl_833 stl_08 stl_327" style="word-spacing:-0.0385em;">transition projects is capitalized and depreciated over  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:26.6103em;z-index:3392;"><span class="stl_833 stl_08 stl_721" style="word-spacing:-0.0361em;">the contract period. Please refer to ‘Transition cost’.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:28.2774em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">Any prepayments received regarding transition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:29.1105em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">projects will be recognized as revenue over the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:29.9436em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">operation period.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:31.6105em;"><span class="stl_264 stl_08 stl_166">Transformation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:32.4436em;"><span class="stl_202 stl_08 stl_423" style="word-spacing:-0.031em;">Transformation is:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:33.513em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:33.513em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0412em;">A significant change to future state of the subject.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:34.5824em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:34.5824em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0438em;">The full set of activities required for the delivery  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:35.4155em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">organization to provide the future state operation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:36.2486em;z-index:3678;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0334em;">of services to the customer.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:6.9705em;"><span class="stl_202 stl_08 stl_251" style="word-spacing:-0.0459em;">These activities transfer services to the customer as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:7.8036em;"><span class="stl_202 stl_08 stl_478">performed.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:9.4705em;"><span class="stl_202 stl_08 stl_515" style="word-spacing:-0.0503em;">The transformation phase typically starts after the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:10.3036em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">successful completion of transition and ends when  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:11.1367em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0364em;">the environment has reached the agreed future  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:11.9699em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0394em;">state. In some circumstances the transformation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:12.803em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">phase will take place in parallel with the transition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:13.6361em;"><span class="stl_202 stl_08 stl_269">phase.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:15.303em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0381em;">Revenue regarding transformation projects is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:16.1361em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0345em;">recognized over time as an asset is created with no  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:16.9692em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">alternative use and NNIT has an enforceable right  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:17.8024em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0337em;">to payment and revenue recognition in nature is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:18.6355em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">similar to the project business.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:20.3024em;"><span class="stl_264 stl_08 stl_256" style="word-spacing:-0.0404em;">Operation of IT systems  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:21.1355em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0406em;">Revenue from the operation of IT systems is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:21.9686em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">recognized in the period in which the outsourcing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:22.8017em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.04em;">services are provided based on amounts billable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:23.6349em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0374em;">to a customer (for fixed price components in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:24.468em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0402em;">contract, revenue is typically recognized on a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:25.3011em;"><span class="stl_202 stl_08 stl_211" style="word-spacing:-0.0311em;">straight-line basis over the course of a year, while for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:26.1342em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">variable components revenue is recognized based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:26.9674em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">on usage of units, and price lists according to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:27.8005em;"><span class="stl_202 stl_08 stl_254">contract).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:6.9672em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">Deferred tax assets are recognized in the balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.8003em;"><span class="stl_202 stl_08 stl_250" style="word-spacing:-0.0428em;">sheet under non-current assets.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.4672em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">Deferred tax liabilities are recognized in the balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.3003em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0387em;">sheet under non-current liabilities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.9672em;"><span class="stl_202 stl_08 stl_312" style="word-spacing:-0.037em;">Deferred tax is measured on the basis of the tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.8003em;"><span class="stl_202 stl_08 stl_86" style="word-spacing:-0.0351em;">rules and tax rates that according to current legisla-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:13.6335em;"><span class="stl_202 stl_08 stl_339" style="word-spacing:-0.0359em;">tion at the balance sheet date will apply at the time of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.4666em;"><span class="stl_202 stl_08 stl_124" style="word-spacing:-0.0397em;">the expected realization of the deferred tax asset or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.2997em;"><span class="stl_202 stl_08 stl_149" style="word-spacing:-0.0382em;">settlement of the deferred tax liability. Any changes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.1328em;"><span class="stl_202 stl_08 stl_39" style="word-spacing:-0.0423em;">to deferred tax caused by changes in statutory tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.966em;"><span class="stl_202 stl_08 stl_162" style="word-spacing:-0.0334em;">rates are recognized in the income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:18.6328em;"><span class="stl_774 stl_08 stl_412" style="word-spacing:-0.0519em;">For Danish tax purposes, NNIT A/S and SCALES A/S  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.466em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">is assessed jointly with the Novo Group. Income tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.2991em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">is allocated between the companies in proportion to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.1322em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.038em;">their taxable incomes (full allocation with compen-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.9653em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0393em;">sation concerning tax losses). The jointly assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:22.7985em;"><span class="stl_202 stl_08 stl_67" style="word-spacing:-0.0297em;">companies are included in the Tax Prepayment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.6316em;"><span class="stl_202 stl_08 stl_245">Scheme.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:29.4674em;"><span class="stl_264 stl_08 stl_320" style="word-spacing:-0.0385em;">Intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:30.3005em;"><span class="stl_610 stl_08 stl_270">Goodwill  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:31.1336em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">Goodwill arising from business combinations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:31.9667em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0334em;">is recognized and measured as the difference  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:32.7999em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0376em;">between the total of the fair value of the considera-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:33.633em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">tion transferred compared to the fair value of identi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:34.4661em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0397em;">fiable net assets on the date of acquisition.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:36.133em;"><span class="stl_202 stl_08 stl_17" style="word-spacing:-0.0439em;">Goodwill is not amortized, but the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:36.9661em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0358em;">is tested at relevant cash generating unit level  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:37.7992em;z-index:4853;"><span class="stl_202 stl_08 stl_151" style="word-spacing:-0.0266em;">(CGU-level) for impairment once a year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">Goodwill is written down to its recoverable amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">through the income statement if lower than the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6378em;"><span class="stl_202 stl_08 stl_399" style="word-spacing:-0.0495em;">carrying amount.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3047em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">The recoverable amount is determined as the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1379em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">present value of the discounted future net cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.971em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">flow from the activities goodwill relates to. In calcu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.8041em;"><span class="stl_202 stl_08 stl_535" style="word-spacing:-0.0328em;">lating the present value, discount rates are applied  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6372em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.043em;">reflecting the riskfree interest rate with the addition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4703em;"><span class="stl_202 stl_08 stl_386" style="word-spacing:-0.0326em;">of risks relating to the individual CGU.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1372em;"><span class="stl_610 stl_08 stl_259" style="word-spacing:-0.0437em;">IT development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.9703em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0427em;">IT development projects are clearly specified and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8035em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0402em;">identifiable projects under development for internal  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6366em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">and external use for which the technical feasibility  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4697em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0366em;">of completing the development project has been  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3028em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">demonstrated and resources are available within  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_202 stl_08 stl_190">NNIT.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8028em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">Any development projects that do not meet the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.636em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">criteria for capitalization in the balance sheet are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4691em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">recognized as costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.136em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">Development costs meeting the criteria for capital-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.9691em;"><span class="stl_202 stl_08 stl_227" style="word-spacing:-0.0322em;">iztion are measured at cost less accumulated amor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.8022em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0392em;">tization and any impairment losses. Development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.6353em;"><span class="stl_202 stl_08 stl_658" style="word-spacing:-0.0453em;">costs include external expenses, salaries, amortiza-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.4685em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">tion and depreciation that can be directly attributed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3016em;"><span class="stl_202 stl_08 stl_308" style="word-spacing:-0.0447em;">to NNIT development activities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.9685em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">Development costs recognized in the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8016em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">are amortized from completion of the development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.6347em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0378em;">using the straight-line method, over the period the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.4678em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">asset is expected to generate economic benefits.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.1347em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.041em;">Straight-line amortization over the expected useful  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.9678em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0407em;">life of the asset:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:38.0372em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:38.0372em;"><span class="stl_202 stl_08 stl_34" style="word-spacing:-0.0322em;">IT projects: 5-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:6.9678em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">Intangible assets that are in use and subject to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.801em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">amortization are tested for impairment whenever  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:8.6341em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.042em;">events or changes in circumstances indicate that the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.4672em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">carrying amount may not be recoverable. Factors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.3004em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">that could trigger an impairment test include  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.1335em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">changes in the economic lifes of similar assets or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.9666em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">the relationship with other intangible assets or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.7997em;"><span class="stl_202 stl_08 stl_514" style="word-spacing:-0.0465em;">tangible assets.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.4666em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">Intangible assets under construction are tested for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.2997em;z-index:1606;"><span class="stl_202 stl_08 stl_174" style="word-spacing:-0.0235em;">impairment once a year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.9666em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0418em;">If the carrying amount of intangible assets exceeds  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.7997em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0365em;">the recoverable amount based upon the above indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:18.6328em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.038em;">cators of impairment, any impairment loss is meas-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.466em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">ured based on discounted future cash flows.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.1328em;"><span class="stl_264 stl_08 stl_212" style="word-spacing:-0.0282em;">Tangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.966em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">Tangible fixed assets are measured at cost less  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:22.7991em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">accumulated depreciation and any impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.6322em;"><span class="stl_202 stl_08 stl_270">losses.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.2991em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.037em;">Cost price includes the purchase price and costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.1322em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0368em;">relating directly to the purchase. Subsequent costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.9654em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0398em;">are either included in the carrying amount of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.7985em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0364em;">asset or recognized as a separate asset, where  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:28.6316em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0382em;">there are likely future economic benefits for the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.4647em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">Group and the value of the asset can be reliably  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:30.2978em;"><span class="stl_202 stl_08 stl_186">measured.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.9647em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0397em;">The depreciable amount of the assets is depreciated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.7978em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">on a straight-line basis over the following estimated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:33.631em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">useful life periods:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:34.7003em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.4413em;top:34.7003em;"><span class="stl_202 stl_08 stl_68" style="word-spacing:-0.029em;">Other equipment: 3-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.7697em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.4413em;top:35.7697em;"><span class="stl_202 stl_08 stl_165" style="word-spacing:-0.0298em;">Leasehold improvements: 5-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:6.9641em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0394em;">Asset residual values and useful life's are assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:7.7972em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0334em;">and, where required, adjusted on each balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:8.6303em;"><span class="stl_202 stl_08 stl_275" style="word-spacing:-0.0299em;">sheet date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:10.2972em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0337em;">Tangible assets are tested for impairment if  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.1303em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">there are indications of impairment. The carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.9635em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">amount of an asset is written down to its recover-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.7966em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">able amount if the carrying amount exceeds the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.6297em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0364em;">estimated recoverable amount. The recoverable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.4628em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">amount for the asset is determined as the higher  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.296em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0378em;">of fair value less costs to sell and net present value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.1291em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.039em;">of future net cash flows from continued use. If the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.9622em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0372em;">recoverable amount of an individual asset cannot  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:17.7953em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">be determined, value in use is determined for the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:18.6285em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0386em;">smallest group of assets for which it is possible to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:19.4616em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0432em;">determine a recoverable amount. Impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.2947em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">are recognized in the income statement under the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:21.1278em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0389em;">relevant functional areas.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:22.7947em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">Depreciation and gains or losses from disposal of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:23.6278em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">tangible assets are recognized in the income state-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:24.461em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">ment under cost of goods sold, sale and marketing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:25.2941em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0433em;">costs and administrative expenses respectively.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:26.961em;"><span class="stl_264 stl_08 stl_243" style="word-spacing:-0.0397em;">Cloud-based arrangements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:27.7941em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.0429em;">Software within a cloud-based arrangement is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:28.6272em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0385em;">recognised as an intangible asset.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:30.2941em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0378em;">Costs incurred to configure or customise, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:31.1272em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.033em;">the ongoing fees to obtain access to the cloud  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:31.9603em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0398em;">provider's application software, are recognised  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:32.7935em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">as expenses when the services are received. Also  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:33.6266em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">internal costs such as cost related to selection of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:34.4597em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.033em;">cloud provider, data conversion, training and testing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:35.2928em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">are expensed.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:36.9597em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0399em;">Configuration and customisation activities under-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:37.7928em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0374em;">taken in implementation of cloud based arrange-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:6.9597em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">ments may give rise to a separate asset related to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:7.7928em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">the development of software code that enhances,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:8.626em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0384em;">modifies or creates additional capabilities to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:9.4591em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0423em;">groups application. Costs incurred for these activi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:10.2922em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.039em;">ties are recognised as intangible assets if they meet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:11.1253em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0396em;">the recognition criteria and amortised over the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:11.9585em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">usefull life of the software.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:13.6253em;"><span class="stl_264 stl_08 stl_17" style="word-spacing:-0.0438em;">Lease assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:14.4585em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0381em;">Lease assets are 'right-of-use assets' arising  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:15.2916em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0375em;">from a lease agreement. Lease assets are initially  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:16.1247em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0351em;">measured at cost consisting of the amount of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:16.9578em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">initial measurement of the lease liability, plus any  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:17.791em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.039em;">lease payments made to the lessor at or before  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:18.6241em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">the commencement date less any lease incentives  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:19.4572em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0362em;">received and the initial estimate of refurbishment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:20.2903em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.0431em;">costs and any initial directs costs incurred by NNIT  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:21.1235em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">as the lessee.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:22.7903em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0412em;">NNIT has three different types of leases:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:23.8597em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.4575em;top:23.8597em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0338em;">Rental of premises  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:24.9291em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.4575em;top:24.9291em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.035em;">Rental of equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:25.9985em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.4575em;top:25.9985em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0374em;">Company cars  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:27.6654em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">The lease assets are depreciated on a straight-line  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:28.4985em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0386em;">basis over the lease term. The lease asset can be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:29.3316em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">adjusted due to modifications to the lease agree-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:30.1647em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0363em;">ment or reassessment of lease term.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:31.8316em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0404em;">Payments associated with short-term leases and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:32.6647em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0368em;">leases of low-value assets are recognized on a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:33.4978em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">straight-line basis as an expense in profit or loss.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:34.331em;"><span class="stl_202 stl_08 stl_423" style="word-spacing:-0.0309em;">Short-term leases are leases with a term of 12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:35.1641em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0416em;">months or less. Low-value assets comprise equip-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:35.9972em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0376em;">ment with a value below DKK 100 thousand.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_264 stl_08 stl_408">Subleases  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0344em;">NNIT has entered into arrangements to sublease  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6378em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0418em;">part of the Group's property lease agreement, while  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.471em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">NNIT retains the primary obligation under the orig-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3041em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">inal lease. NNIT acts as such both the lessee and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1372em;"><span class="stl_202 stl_08 stl_250" style="word-spacing:-0.0429em;">lessor of the same underlying asset.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.8041em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">If a part of the Group's property is subleased under  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6372em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0384em;">terms transferring substantially all remaining risks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4703em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.035em;">and rewards under the head lease to the lessee in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.3035em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0367em;">the sublease, the right-of-use asset is derecognised,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1366em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0345em;">and a lease receivable is recognised at an amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.9697em;"><span class="stl_774 stl_08 stl_247" style="word-spacing:-0.0381em;">equal to the net investment in the lease. Gain/loss  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8028em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0362em;">on the derecognised right-of-use asset is recognised  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.636em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">in the income statement as special items.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3028em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">During the term of the sublease, the receivable is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_202 stl_08 stl_308" style="word-spacing:-0.0447em;">adjusted based on a pattern reflecting a constant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.9691em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0368em;">periodic rate of return on the net investment in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8022em;"><span class="stl_202 stl_08 stl_269">lease.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4691em;"><span class="stl_264 stl_08 stl_169" style="word-spacing:-0.0231em;">Transition cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.3022em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">Transition cost consists of cost regarding transition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.1353em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0404em;">projects, which has been capitalized until operation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.9685em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.037em;">begins. The cost mainly relates to employee cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.8016em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">and will be amortized over the operation period.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.4685em;"><span class="stl_264 stl_08 stl_211">Inventories  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3016em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0346em;">Goods for resale are measured at the lower of cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.1347em;"><span class="stl_202 stl_08 stl_340" style="word-spacing:-0.0338em;">and net realizable value.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8016em;"><span class="stl_264 stl_08 stl_181" style="word-spacing:-0.0272em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.6347em;"><span class="stl_202 stl_08 stl_211" style="word-spacing:-0.0323em;">Trade receivables are initially recognized at fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.4678em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0383em;">and subsequently measured at amortized cost using  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:35.301em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0418em;">the effective interest method, less allowance for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.1341em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0407em;">doubtful trade receivables.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:6.9672em;"><span class="stl_202 stl_08 stl_149" style="word-spacing:-0.0381em;">Allowance for doubtful trade receivables is made  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.8003em;"><span class="stl_202 stl_08 stl_176" style="word-spacing:-0.0394em;">using the expected credit loss model, which uses a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:8.6335em;"><span class="stl_202 stl_08 stl_390" style="word-spacing:-0.0389em;">lifetime expected loss allowance for all trade receiv-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.4666em;"><span class="stl_202 stl_08 stl_176">ables.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.1335em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0426em;">The allowance is deducted from the carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.9666em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0366em;">amount of trade receivables and the amount of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.7997em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0343em;">loss is recognized in the income statement under  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:13.6328em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0363em;">cost of goods sold.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.2997em;"><span class="stl_264 stl_08 stl_237" style="word-spacing:-0.0354em;">Work in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.1328em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0338em;">The determination of the percentage of completion  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.966em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0374em;">of work in progress related to fixed price projects is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.7991em;"><span class="stl_202 stl_08 stl_235" style="word-spacing:-0.0415em;">based on estimates of future costs, hours and mate-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:18.6322em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">rials. Each project is unique in their design. Manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.4653em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0398em;">ment makes judgements on individual assessments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.2985em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">of specific projects and their associated risk from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.1316em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.041em;">the on-going monitoring, to identify any deviations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.9647em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0396em;">from estimates.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.6316em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">Adjustments to cost estimates may be made peri-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:24.4647em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0349em;">odically following management review, which may  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.2978em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0345em;">result in a re-assessment of the percentage of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.131em;"><span class="stl_202 stl_08 stl_269" style="word-spacing:-0.0317em;">completion as of the date of review. Such changes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.9641em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">result in revisions to revenue attributable to work  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.7972em;"><span class="stl_202 stl_08 stl_250" style="word-spacing:-0.043em;">performed up until the date of revision. The effect  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:28.6303em;"><span class="stl_202 stl_08 stl_227" style="word-spacing:-0.0321em;">of such changes in estimates is recognized as a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.4635em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">change to revenue in the period in which the revi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:30.2966em;"><span class="stl_202 stl_08 stl_186" style="word-spacing:-0.0315em;">sions are determined.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.9635em;"><span class="stl_264 stl_08 stl_188" style="word-spacing:-0.0367em;">Other receivables and prepayments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.7966em;"><span class="stl_610 stl_08 stl_369" style="word-spacing:-0.0336em;">Current receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:33.6297em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0348em;">Current receivables are measured at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:34.4628em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">less potential write-downs for impairment losses.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.296em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">Write-downs are based on individual assessments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:36.1291em;z-index:2308;"><span class="stl_202 stl_08 stl_127" style="word-spacing:-0.0164em;">of each debtor.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:6.9622em;"><span class="stl_610 stl_08 stl_280">Prepayments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:7.7953em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0412em;">Prepayments comprise costs incurred for the next  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:8.6285em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0344em;">financial year. These are usually prepayments for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:9.4616em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0363em;">maintenance of hardware and software licenses.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.1285em;"><span class="stl_264 stl_08 stl_270" style="word-spacing:-0.0446em;">Assets classified as held for sale  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.9616em;"><span class="stl_202 stl_08 stl_514" style="word-spacing:-0.0468em;">Assets classified as held for sale comprise assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.7947em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">and liabilities for which it is highly likely that the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.6278em;"><span class="stl_202 stl_08 stl_423" style="word-spacing:-0.0311em;">value will be recovered through a sale within 12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.461em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0408em;">months rather than through continued use. Assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.2941em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">and liabilities classified as held for sale are meas-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.1272em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">ured at the lower of the carrying amount and fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.9603em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">value less cost to sell at the classification date as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:17.7935em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">“held for sale”. Assets held for sale are not depre-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:18.6266em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0423em;">ciated. Impairment losses arising on first classifi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:19.4597em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0403em;">cation as “held for sale” and gains and losses from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.2928em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0331em;">the subsequent measurement is recognized in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:21.126em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0368em;">income statement under the items they concern.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:22.7928em;"><span class="stl_264 stl_08 stl_91">Equity  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:23.626em;"><span class="stl_610 stl_08 stl_180" style="word-spacing:-0.0256em;">Treasury shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:24.4591em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">Treasury shares are deducted from equity. Acqui-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:25.2922em;"><span class="stl_774 stl_08 stl_535" style="word-spacing:-0.0328em;">sition/disposal of treasury shares are recognized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:26.1253em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.0431em;">directly in equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:27.7922em;"><span class="stl_610 stl_08 stl_478">Dividend  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:28.6253em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">Dividend distribution to the shareholders of NNIT  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:29.4585em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0363em;">is recognized as a liability when dividends are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:30.2916em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0369em;">declared. Proposed dividends are disclosed in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:31.1247em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0362em;">statement of changes in equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:32.7916em;"><span class="stl_264 stl_08 stl_340" style="word-spacing:-0.0341em;">Lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:33.6247em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0349em;">Lease liabilities arise from a lease agreement. Lease  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:34.4578em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0344em;">liabilities are initially equal to the present value of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:35.291em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">the lease payments during the lease term that are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:36.1241em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">not yet paid.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:6.9572em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0396em;">At initial recognition NNIT assess each contract  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:7.7903em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0347em;">individually to assess the likelihood of exercising  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:8.6235em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0386em;">a potential extension option in the contract.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:9.4566em;"><span class="stl_202 stl_08 stl_235" style="word-spacing:-0.0416em;">The option to extend the contract period will be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:10.2897em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0384em;">included in the calculation of the lease liability if  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:11.1228em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0376em;">it is reasonably certain that NNIT will exercise the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:11.956em;"><span class="stl_202 stl_08 stl_188">option.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:13.6228em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0366em;">When calculating the net present value NNIT has  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:14.456em;"><span class="stl_202 stl_08 stl_73" style="word-spacing:-0.0324em;">used a discount rate corresponding to the incre-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:15.2891em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0353em;">mental borrowing rate.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:16.956em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0356em;">The lease liability is remeasured when changes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:17.7891em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0399em;">occur due to modifications to the contract (exten-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:18.6222em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0337em;">sion, termination etc.) or indexation.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:20.2891em;"><span class="stl_264 stl_08 stl_246" style="word-spacing:-0.0402em;">Employee benefits  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:21.1222em;"><span class="stl_202 stl_08 stl_431" style="word-spacing:-0.0405em;">Wages, salaries, social security contributions, paid  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:21.9553em;"><span class="stl_202 stl_08 stl_551" style="word-spacing:-0.0373em;">annual leave and sick leave, bonuses and non-mon-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:22.7885em;"><span class="stl_202 stl_08 stl_432" style="word-spacing:-0.0417em;">etary benefits are recognized in the financial year in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:23.6216em;"><span class="stl_202 stl_08 stl_81" style="word-spacing:-0.0376em;">which the NNIT employee provided the related work  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:24.4547em;"><span class="stl_202 stl_08 stl_364">service.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:26.1216em;"><span class="stl_610 stl_08 stl_340" style="word-spacing:-0.034em;">Contingent Consideration Agreement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:26.9547em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.0331em;">The contingent consideration for Excellis Health  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:27.7878em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.039em;">Solutions, SL Controls and Prime4Services is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:28.621em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.037em;">accrued over the period from the acquisition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:29.4541em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0415em;">date until the payment is based on expected  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:30.2872em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0394em;">achieved performance conditioned on employment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:31.1203em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0376em;">(projected unit credit method). The cost is recog-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:31.9535em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0335em;">nized as wages and salaries under special items in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:32.7866em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0402em;">the income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:34.4535em;"><span class="stl_610 stl_08 stl_423">Pensions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:35.2866em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0398em;">NNIT operates a number of defined-contribution  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:36.1197em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0373em;">pension plans. The costs of these pension plans are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0351em;">recognized in the financial year in which the relevant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">NNIT employees provided the related service.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.4716em;"><span class="stl_202 stl_08 stl_581" style="word-spacing:-0.0421em;">In some countries NNIT operates defined-benefit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3047em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0334em;">plans. Such liabilities are measured at the present  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1379em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0437em;">value of the expected payments related to benefits  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.971em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">accrued at the balance sheet date less the fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.8041em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0405em;">of plan assets by applying the projected unit credit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6372em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0352em;">method. Plan assets, if any, are measured at fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4703em;"><span class="stl_202 stl_08 stl_514" style="word-spacing:-0.0467em;">value and offset against the defined benefit obli-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.3035em;"><span class="stl_202 stl_08 stl_530" style="word-spacing:-0.0424em;">gation in the balance sheet. Service costs and the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1366em;"><span class="stl_202 stl_08 stl_424" style="word-spacing:-0.031em;">interest component are recognized in the income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.9697em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">statement. Actuarial gains and losses are recog-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8028em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.0331em;">nized in other comprehensive income in the period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.636em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0346em;">in which they occur. Settlements are immediately  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4691em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0356em;">recognized in the income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:13.6335em;"><span class="stl_264 stl_08 stl_72">Provisions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.4666em;"><span class="stl_202 stl_08 stl_386" style="word-spacing:-0.0327em;">Provisions are recognized when NNIT has a legal or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.2997em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0434em;">constructive obligation arising from past events, it is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.1328em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0385em;">probable that NNIT will have to draw on its financial  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.966em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0382em;">resources to settle the liability, and the liability can  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.7991em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">be reliably estimated.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.466em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0366em;">Provisions in the case of NNIT consist mainly of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.2991em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0363em;">refurbishment obligations.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.966em;"><span class="stl_610 stl_08 stl_245" style="word-spacing:-0.035em;">Provision for refurbishment obligation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:22.7991em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.033em;">This refers to refurbishment obligations regarding  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.6322em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0383em;">NNIT's lease agreements for rental of premises.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.2991em;"><span class="stl_264 stl_08 stl_178" style="word-spacing:-0.0213em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.1322em;"><span class="stl_202 stl_08 stl_340" style="word-spacing:-0.0342em;">Trade payables are measured at amortized cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.1322em;"><span class="stl_264 stl_08 stl_425" style="word-spacing:-0.0424em;">Cash flow statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.9653em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0395em;">The cash flow statement is prepared using the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.7985em;"><span class="stl_202 stl_08 stl_270" style="word-spacing:-0.0443em;">indirect method. The cash flow statement shows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:33.6316em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0378em;">the cash flows for the year, divided into operating,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:6.9647em;"><span class="stl_202 stl_08 stl_270" style="word-spacing:-0.0447em;">investing and financing activities, and how these  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:7.7978em;"><span class="stl_202 stl_08 stl_232" style="word-spacing:-0.0454em;">cash flows have affected the cash position for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:8.631em;z-index:2204;"><span class="stl_202 stl_08 stl_198" style="word-spacing:-0.0107em;">the year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:10.2978em;"><span class="stl_610 stl_08 stl_493" style="word-spacing:-0.0456em;">Cash flow from operating activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.131em;"><span class="stl_202 stl_08 stl_530" style="word-spacing:-0.0424em;">Cash flows from operating activities are calculated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.9641em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">as the net profit for the year, adjusted for non-cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.7972em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0407em;">operating items. These include amortization, depre-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.6303em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0419em;">ciation and write-downs, share-based compen-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.4635em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">sation, change in net working capital and interest  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.2966em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0352em;">received and paid.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.9635em;"><span class="stl_610 stl_08 stl_428" style="word-spacing:-0.0473em;">Cash flow from investing activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:17.7966em;"><span class="stl_202 stl_08 stl_695" style="word-spacing:-0.0448em;">Cash flows from investing activities comprise cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:18.6297em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0399em;">flows from the purchase and sale of intangible,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:19.4628em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0432em;">tangible and financial non-current assets and the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.296em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0398em;">purchase and sale of securities. Further including  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:21.1291em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">aqusition of subsidaries.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:22.796em;"><span class="stl_610 stl_08 stl_484" style="word-spacing:-0.0483em;">Cash flow from financing activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:23.6291em;"><span class="stl_202 stl_08 stl_89" style="word-spacing:-0.0449em;">Cash flows from financing activities comprise cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:24.4622em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0382em;">flows from raising and repaying long-term debt,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:25.2953em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">dividend payments to shareholders, instalments on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:26.1285em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0371em;">lease liabilities and credit facilities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:27.7953em;"><span class="stl_610 stl_08 stl_530" style="word-spacing:-0.0421em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:28.6285em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0404em;">Cash and cash equivalents include cash.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:30.2953em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0436em;">The cash flow statement cannot be derived from the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:31.1285em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0369em;">annual report alone.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0351em;">Long-term incentive program  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.9691em;"><span class="stl_202 stl_08 stl_215" style="word-spacing:-0.0316em;">Group Management and the Vice President Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8022em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">are part of a long-term share-based incentive  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.6353em;"><span class="stl_202 stl_08 stl_143" style="word-spacing:-0.025em;">program (LTIP).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.3022em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.036em;">Under the program, NNIT allocates shares based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.1353em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0406em;">operating profit and free cash flow.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.8022em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0397em;">The participants receive NNIT shares. The shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.6353em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">are subject to a lock-up period of four years.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3022em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">NNIT has the obligation to deliver treasury shares,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.1353em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.036em;">and accordingly, the arrangement is classified as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.9685em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0412em;">an equitysettled arrangement and will be charged  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8016em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0338em;">to the income statement over the four-year vesting  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.6347em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">period based on the market price at the grant date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:6.9678em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">Due to legal restrictions in some jurisdictions and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.801em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">contractual agreements a small part of the LTIP  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:8.6341em;"><span class="stl_202 stl_08 stl_494" style="word-spacing:-0.0442em;">program is setteled in cash. For the part settled in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.4672em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">cash the cost will be charged to the income state-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.3003em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">ment including impact from changes in the share-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.1335em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">price. The libility related to the cash settled part is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.9666em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0364em;">included in Other liabilities in the balance sheet.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.7991em;"><span class="stl_264 stl_08 stl_369" style="word-spacing:-0.0326em;">Other current liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:28.6322em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0374em;">Other current liabilities comprise accrued expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.4653em;"><span class="stl_202 stl_08 stl_466" style="word-spacing:0.0215em;">and VAT.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:6.9716em;"><span class="stl_264 stl_08 stl_17" style="word-spacing:-0.0434em;">Non-IFRS financial measures  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:7.8047em;"><span class="stl_202 stl_08 stl_658" style="word-spacing:-0.0453em;">In the Annual Report, NNIT discloses certain finan-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:8.6378em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">cial measures of the Group's financial performance,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.471em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0438em;">financial position and cash flows that reflect adjust-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.3041em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.04em;">ments to the most directly comparable measures  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.1372em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">calculated and presented in accordance with IFRS.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.9703em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0416em;">These non-IFRS financial measures may not be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.8035em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0378em;">defined and calculated by other companies in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.6366em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">same manner and may thus not be comparable with  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:14.4697em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">such measures.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.1366em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0409em;">The non-IFRS financial measures presented in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.9697em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">Annual Report are:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.0391em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0345em;">• Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:19.1085em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">• Financial resources at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.1778em;"><span class="stl_202 stl_08 stl_232" style="word-spacing:-0.0453em;">• Free cash flow  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:21.2472em;"><span class="stl_202 stl_08 stl_17" style="word-spacing:-0.044em;">• Organic growth  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:22.9141em;"><span class="stl_610 stl_08 stl_531" style="word-spacing:-0.0345em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.7472em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">Special items comprise costs or income that cannot  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:24.5803em;"><span class="stl_202 stl_08 stl_658" style="word-spacing:-0.0454em;">be attributed directly to the Group’s ordinary activ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:25.4135em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">ities and are non-recurring of nature. Such costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:26.2466em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0364em;">and income include the cost related to significant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:27.0797em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">restructuring of the cost base and processes as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:27.9128em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">well as restructuring costs related to resignation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:28.746em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0377em;">of employees. Further special items include signif-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:29.5791em;"><span class="stl_202 stl_08 stl_270" style="word-spacing:-0.0446em;">icant cost related to M&amp;A activities, redundancy  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:30.4122em;"><span class="stl_202 stl_08 stl_386" style="word-spacing:-0.0328em;">cost related to members of Group Management,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:6.9672em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.038em;">impairment of assets, gains from subleases and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:7.8003em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0394em;">gains and losses regarding disposal of activities or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:8.6335em;"><span class="stl_202 stl_08 stl_248">subsidiaries.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:10.3003em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">Special items are shown separately from the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:11.1335em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">Group’s ordinary operations to facilitate a better  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:11.9666em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">understanding of the Group’s financial perfor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:12.7997em;"><span class="stl_202 stl_08 stl_177">mance.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:14.4666em;"><span class="stl_610 stl_08 stl_340" style="word-spacing:-0.0341em;">Interest-bearing debt, net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:15.2997em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0347em;">Equals interest bearing debt, including lease liabili-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:16.1328em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0422em;">ties less cash.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:17.7997em;"><span class="stl_610 stl_08 stl_257" style="word-spacing:-0.0333em;">Financial resources at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:18.6328em;"><span class="stl_202 stl_08 stl_73" style="word-spacing:-0.0324em;">Financial resources at the end of the year are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:19.466em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">defined as the sum of cash and cash equivalents at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:20.2991em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">the end of the year and undrawn committed credit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:21.1322em;"><span class="stl_202 stl_08 stl_246">facilities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:22.7991em;"><span class="stl_610 stl_08 stl_658" style="word-spacing:-0.0455em;">Free cash flow  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:23.6322em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0408em;">NNIT defines free cash flow as ‘net cash generated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:24.4653em;"><span class="stl_202 stl_08 stl_250" style="word-spacing:-0.0429em;">from operating activities less net cash used in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:25.2985em;z-index:2116;"><span class="stl_202 stl_08 stl_528" style="word-spacing:-0.046em;">investing activities’.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:26.9653em;"><span class="stl_610 stl_08 stl_494" style="word-spacing:-0.0434em;">Organic growth  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:27.7985em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0342em;">Expansion of operations from own (internally gener-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:28.6316em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">ated) resources, without growth from acquisition of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:29.4647em;"><span class="stl_202 stl_08 stl_308" style="word-spacing:-0.0448em;">other companies and without currency effect.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_125" style="word-spacing:0.1536em;">1.5 Financial</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:9.755em;top:5.658em;"><span class="stl_527 stl_08 stl_148">definitions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.2147em;"><span class="stl_267 stl_08 stl_280" style="word-spacing:-0.0412em;">Operating profit margin  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.5357em;top:7.2147em;"><span class="stl_267 stl_08 stl_19">=</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.8982em;top:7.2147em;"><span class="stl_267 stl_08 stl_253" style="word-spacing:-0.039em;">Operating profit x 100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.8982em;top:8.2247em;"><span class="stl_267 stl_08 stl_266">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:9.8297em;"><span class="stl_267 stl_08 stl_425" style="word-spacing:-0.0427em;">Gross profit margin  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.5363em;top:9.8297em;"><span class="stl_267 stl_08 stl_19">=</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.8988em;top:9.8297em;"><span class="stl_267 stl_08 stl_256" style="word-spacing:-0.0402em;">Gross profit x 100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.8988em;top:10.8397em;"><span class="stl_267 stl_08 stl_266">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:12.4447em;"><span class="stl_267 stl_08 stl_308" style="word-spacing:-0.0448em;">Revenue growth  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.5369em;top:12.4447em;"><span class="stl_267 stl_08 stl_19">=</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.8994em;top:12.4447em;"><span class="stl_267 stl_08 stl_531" style="word-spacing:-0.0343em;">(Revenue current year - revenue prior year) x 100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.8994em;top:13.4547em;"><span class="stl_267 stl_08 stl_237" style="word-spacing:-0.036em;">Revenue prior year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:15.0597em;"><span class="stl_267 stl_08 stl_332" style="word-spacing:-0.0474em;">Return on equity  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.5375em;top:15.0597em;"><span class="stl_267 stl_08 stl_19">=</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.9em;top:15.0597em;"><span class="stl_267 stl_08 stl_303" style="word-spacing:-0.048em;">Net profit after tax x 100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.9em;top:16.0697em;"><span class="stl_267 stl_08 stl_581" style="word-spacing:-0.0422em;">Average equity  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7269em;top:17.6747em;"><span class="stl_267 stl_08 stl_320" style="word-spacing:-0.0387em;">Dividend per share for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.5319em;top:17.6747em;"><span class="stl_267 stl_08 stl_19">=</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.9007em;top:17.6747em;"><span class="stl_267 stl_08 stl_280" style="word-spacing:-0.0415em;">Proposed dividend  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.9007em;top:18.6847em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0423em;">The number of outstanding shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7275em;top:20.2897em;"><span class="stl_267 stl_08 stl_270" style="word-spacing:-0.0444em;">Return on invested capital (ROIC)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.5313em;top:20.2897em;"><span class="stl_267 stl_08 stl_19">=</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.8938em;top:20.2897em;"><span class="stl_267 stl_08 stl_235" style="word-spacing:-0.0416em;">Net profit ex. financials x 100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.9013em;top:21.2997em;"><span class="stl_267 stl_08 stl_246" style="word-spacing:-0.0409em;">Average invested capital </span><sup style="top: -0.2101em;"><span class="stl_281 stl_08 stl_696" style="word-spacing:-0.0702em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.9028em;"><span class="stl_267 stl_08 stl_200" style="word-spacing:-0.0391em;">EBITDA margin  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.5357em;top:22.9028em;"><span class="stl_267 stl_08 stl_19">=</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.8982em;top:22.9028em;"><span class="stl_267 stl_08 stl_250" style="word-spacing:-0.0428em;">Operating profit + depreciation and amortization  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.8982em;top:23.9128em;"><span class="stl_267 stl_08 stl_266">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:25.5178em;"><span class="stl_267 stl_08 stl_333" style="word-spacing:-0.0491em;">Solvency ratio  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.5363em;top:25.5178em;"><span class="stl_267 stl_08 stl_19">=</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.8988em;top:25.5178em;"><span class="stl_267 stl_08 stl_344">Equity  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.8988em;top:26.5278em;"><span class="stl_267 stl_08 stl_73" style="word-spacing:-0.0324em;">Total assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:28.1328em;"><span class="stl_267 stl_08 stl_322" style="word-spacing:-0.0544em;">Effective tax rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.5369em;top:28.1328em;"><span class="stl_267 stl_08 stl_19">=</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.8994em;top:28.1328em;"><span class="stl_267 stl_08 stl_821">Tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.8994em;top:29.1428em;"><span class="stl_267 stl_08 stl_528" style="word-spacing:-0.0461em;">Profit before tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.4598em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_475" style="word-spacing:-0.0525em;">ꢀAverage invested capital is calculated excluding cash and cash equivalents, shares and non-interest bearing debt.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.8218em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0376em;">The consolidated financial statements are prepared  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.655em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0339em;">in accordance with IFRS Accounting Standards as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.4881em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0382em;">adopted by the EU and further requirements in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.3212em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0405em;">Danish financial statements Act. The Consolidated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.1543em;"><span class="stl_202 stl_08 stl_227" style="word-spacing:-0.032em;">Financial Statements are prepared in accordance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.9875em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">with IFRS Accounting Standards and interpretations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.8206em;z-index:350;"><span class="stl_202 stl_08 stl_181" style="word-spacing:-0.0271em;">applicable to the 2024 financial year.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.8181em;"><span class="stl_264 stl_08 stl_424" style="word-spacing:-0.0303em;">Recognition of revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.6512em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">Revenue is the fair value of the transaction price  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:13.4843em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0399em;">or receivable from the sale of our services and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.3175em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">customized. IT applications and is the gross sales  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.1506em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.0331em;">price less VAT and any price reductions in the form  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.9837em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">of discounts and rebates.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.6506em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0339em;">Revenue can be recognized over time or at a point  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:18.4837em;"><span class="stl_202 stl_08 stl_146" style="word-spacing:-0.0305em;">in time.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.1506em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0345em;">Revenue is recognized over time when an asset on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.9837em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">behalf of a customer is created with no alternative  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.8168em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0347em;">use and NNIT has an enforceable right to payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:22.65em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0339em;">for performance completed year to date, or the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.4831em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">customer obtains control of a service and thus has  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:24.3162em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0434em;">the ability to direct the use and obtain the benefit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.1493em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0433em;">from the service.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.8162em;"><span class="stl_202 stl_08 stl_695" style="word-spacing:-0.0508em;">NNIT has two different types of businesses 'projects'  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.6493em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">and 'Service Level agreements' (SLA) where revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:28.4825em;"><span class="stl_202 stl_08 stl_67" style="word-spacing:-0.0298em;">recognition is treated differently. Refer to note 1.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.3156em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0383em;">General accounting policies for further details.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:30.9825em;"><span class="stl_264 stl_08 stl_230">Projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.8156em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">The project business is characterized by being  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.6487em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.037em;">deliveries which in nature are negotiated contracts  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:33.4818em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0425em;">based on consumption and typically comprise advi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:34.315em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0421em;">sory, design and development activities. Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.1481em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0351em;">will be recognized over time, as the 'no alternative  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.9812em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0346em;">use' criteria's are met, using 'the percentage of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:36.8143em;"><span class="stl_202 stl_08 stl_269" style="word-spacing:-0.0318em;">completion method'.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.83em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0427em;">For fixed priced projects the proportion of revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.6631em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0375em;">to be recognized in a particular period is calcu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.4962em;"><span class="stl_202 stl_08 stl_67" style="word-spacing:-0.0297em;">lated according to the percentage of completion  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.3293em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0436em;">of the project. For most contracts this is meas-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.1625em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0362em;">ured by reference to the costs of performing the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.9956em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0365em;">contract incurred up to the relevant balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.8287em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0364em;">date as a percentage of the total estimated costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:17.6618em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">of performing the contract. Reference to cost is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:18.495em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0398em;">assessed to be the most appropriate method as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:19.3281em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">incurred hours are the value driver for the projects.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.1612em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">The sales value agreed in the contract is recognized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.9943em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0395em;">over the contract period using above method.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:22.6612em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.039em;">For time-and material contracts, we recognize  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:23.4943em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0368em;">revenue as performance takes place based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:24.3275em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0401em;">actual hours incurred.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:25.9943em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0356em;">Contracts where the recognized revenue from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:26.8275em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.037em;">the work performed exceeds progress billings are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:27.6606em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0337em;">recognized as 'work in progress' in the balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:28.4937em;"><span class="stl_202 stl_08 stl_17" style="word-spacing:-0.0435em;">sheet under assets.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:30.1606em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0375em;">Contracts for which progress billings exceed the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:30.9937em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0338em;">revenue are recognized as 'prepayments received'  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:31.8268em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0354em;">under liabilities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:33.4937em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0367em;">If it is likely that the total costs in relation to a long-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:34.3268em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">term contract will exceed the total revenue on a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:35.16em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0434em;">specific project, the expected loss is recognized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:35.9931em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0354em;">immediately in the income statement in the current  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:36.8262em;"><span class="stl_202 stl_08 stl_243">period.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.2985em;"><span class="stl_264 stl_08 stl_428" style="word-spacing:-0.0471em;">Service Level Agreements (SLA)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.1316em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0443em;">The SLA business comprise infrastructure and appli-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.9647em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.038em;">cation outsourcing services and requires the perfor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.7978em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0419em;">mance of certain performance obligations typically  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:28.631em;"><span class="stl_202 stl_08 stl_494" style="word-spacing:-0.0444em;">defined as service levels. As described below under  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.4641em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0396em;">“Outsourcing contracts”, the revenue under an  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:30.2972em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0366em;">outsourcing contract will be recognized over time.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.9641em;"><span class="stl_264 stl_08 stl_120" style="word-spacing:-0.0357em;">Outsourcing contracts  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.7972em;"><span class="stl_202 stl_08 stl_510" style="word-spacing:-0.0482em;">Outsourcing contracts consist of two activities,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:33.6303em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.036em;">preparatory project (such as transition and transfor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:34.4635em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0389em;">mation) and operation of the IT systems e.g. applica-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.2966em;"><span class="stl_202 stl_08 stl_528" style="word-spacing:-0.0459em;">tion, servers and infrastructure. These identifiable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:36.1297em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0393em;">components are accounted for differently to reflect  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:36.9628em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0437em;">the substance of the transaction.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:6.9628em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0411em;">The total contract value of the outsourcing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:7.796em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">contracts will be split into the different perfor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:8.6291em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">mance obligations depending on the activities to be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:9.4622em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">delivered. NNIT will profit align between the perfor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:10.2953em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0399em;">mance obligations within the contract (expected  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.1285em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.0331em;">cost plus margin approach).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.7953em;"><span class="stl_264 stl_08 stl_38">Transition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.6285em;"><span class="stl_202 stl_08 stl_143" style="word-spacing:-0.025em;">Transition is:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.6978em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:14.6979em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">Basic transfer of services and responsibilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.7672em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:15.7672em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0395em;">The minimum activities required that enable the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:16.6004em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">delivery organization to take over operation of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:17.4335em;z-index:2978;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0336em;">the current or similar services for the customer.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:19.1107em;"><span class="stl_833 stl_08 stl_21" style="word-spacing:-0.0398em;">The transition phase takes place in the period between  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:19.9438em;"><span class="stl_833 stl_08 stl_195" style="word-spacing:-0.0403em;">contract signing and service start up (operation).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:21.6107em;"><span class="stl_833 stl_08 stl_444" style="word-spacing:-0.0446em;">Activities performed in the transition phase do not  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:22.4438em;"><span class="stl_833 stl_08 stl_273" style="word-spacing:-0.0405em;">transfer services to the customer as they are seen as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:23.277em;"><span class="stl_833 stl_08 stl_21" style="word-spacing:-0.0409em;">‘start-up’ costs and therefore revenue cannot be recog-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:24.1107em;"><span class="stl_833 stl_08 stl_421" style="word-spacing:-0.0421em;">nized as the activities are performed but will be recog-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:24.9438em;"><span class="stl_833 stl_08 stl_261" style="word-spacing:-0.0346em;">nized over the operation period. Cost regarding the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:25.777em;"><span class="stl_833 stl_08 stl_327" style="word-spacing:-0.0385em;">transition projects is capitalized and depreciated over  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:26.6103em;z-index:3392;"><span class="stl_833 stl_08 stl_721" style="word-spacing:-0.0361em;">the contract period. Please refer to ‘Transition cost’.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:28.2774em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">Any prepayments received regarding transition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:29.1105em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">projects will be recognized as revenue over the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:29.9436em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">operation period.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:31.6105em;"><span class="stl_264 stl_08 stl_166">Transformation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:32.4436em;"><span class="stl_202 stl_08 stl_423" style="word-spacing:-0.031em;">Transformation is:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:33.513em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:33.513em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0412em;">A significant change to future state of the subject.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:34.5824em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:34.5824em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0438em;">The full set of activities required for the delivery  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:35.4155em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">organization to provide the future state operation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:36.2486em;z-index:3678;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0334em;">of services to the customer.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:6.9705em;"><span class="stl_202 stl_08 stl_251" style="word-spacing:-0.0459em;">These activities transfer services to the customer as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:7.8036em;"><span class="stl_202 stl_08 stl_478">performed.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:9.4705em;"><span class="stl_202 stl_08 stl_515" style="word-spacing:-0.0503em;">The transformation phase typically starts after the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:10.3036em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">successful completion of transition and ends when  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:11.1367em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0364em;">the environment has reached the agreed future  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:11.9699em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0394em;">state. In some circumstances the transformation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:12.803em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">phase will take place in parallel with the transition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:13.6361em;"><span class="stl_202 stl_08 stl_269">phase.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:15.303em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0381em;">Revenue regarding transformation projects is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:16.1361em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0345em;">recognized over time as an asset is created with no  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:16.9692em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">alternative use and NNIT has an enforceable right  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:17.8024em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0337em;">to payment and revenue recognition in nature is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:18.6355em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">similar to the project business.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:20.3024em;"><span class="stl_264 stl_08 stl_256" style="word-spacing:-0.0404em;">Operation of IT systems  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:21.1355em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0406em;">Revenue from the operation of IT systems is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:21.9686em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">recognized in the period in which the outsourcing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:22.8017em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.04em;">services are provided based on amounts billable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:23.6349em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0374em;">to a customer (for fixed price components in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:24.468em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0402em;">contract, revenue is typically recognized on a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:25.3011em;"><span class="stl_202 stl_08 stl_211" style="word-spacing:-0.0311em;">straight-line basis over the course of a year, while for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:26.1342em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">variable components revenue is recognized based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:26.9674em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">on usage of units, and price lists according to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:27.8005em;"><span class="stl_202 stl_08 stl_254">contract).  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.8181em;"><span class="stl_264 stl_08 stl_424" style="word-spacing:-0.0303em;">Recognition of revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.6512em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">Revenue is the fair value of the transaction price  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:13.4843em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0399em;">or receivable from the sale of our services and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.3175em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">customized. IT applications and is the gross sales  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.1506em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.0331em;">price less VAT and any price reductions in the form  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.9837em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">of discounts and rebates.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.6506em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0339em;">Revenue can be recognized over time or at a point  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:18.4837em;"><span class="stl_202 stl_08 stl_146" style="word-spacing:-0.0305em;">in time.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.1506em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0345em;">Revenue is recognized over time when an asset on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.9837em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">behalf of a customer is created with no alternative  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.8168em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0347em;">use and NNIT has an enforceable right to payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:22.65em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0339em;">for performance completed year to date, or the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.4831em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">customer obtains control of a service and thus has  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:24.3162em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0434em;">the ability to direct the use and obtain the benefit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.1493em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0433em;">from the service.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.8162em;"><span class="stl_202 stl_08 stl_695" style="word-spacing:-0.0508em;">NNIT has two different types of businesses 'projects'  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.6493em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">and 'Service Level agreements' (SLA) where revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:28.4825em;"><span class="stl_202 stl_08 stl_67" style="word-spacing:-0.0298em;">recognition is treated differently. Refer to note 1.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.3156em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0383em;">General accounting policies for further details.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:30.9825em;"><span class="stl_264 stl_08 stl_230">Projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.8156em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">The project business is characterized by being  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.6487em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.037em;">deliveries which in nature are negotiated contracts  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:33.4818em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0425em;">based on consumption and typically comprise advi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:34.315em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0421em;">sory, design and development activities. Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.1481em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0351em;">will be recognized over time, as the 'no alternative  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.9812em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0346em;">use' criteria's are met, using 'the percentage of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:36.8143em;"><span class="stl_202 stl_08 stl_269" style="word-spacing:-0.0318em;">completion method'.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.83em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0427em;">For fixed priced projects the proportion of revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.6631em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0375em;">to be recognized in a particular period is calcu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.4962em;"><span class="stl_202 stl_08 stl_67" style="word-spacing:-0.0297em;">lated according to the percentage of completion  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.3293em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0436em;">of the project. For most contracts this is meas-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.1625em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0362em;">ured by reference to the costs of performing the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.9956em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0365em;">contract incurred up to the relevant balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.8287em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0364em;">date as a percentage of the total estimated costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:17.6618em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">of performing the contract. Reference to cost is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:18.495em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0398em;">assessed to be the most appropriate method as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:19.3281em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">incurred hours are the value driver for the projects.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.1612em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">The sales value agreed in the contract is recognized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.9943em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0395em;">over the contract period using above method.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:22.6612em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.039em;">For time-and material contracts, we recognize  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:23.4943em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0368em;">revenue as performance takes place based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:24.3275em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0401em;">actual hours incurred.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:25.9943em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0356em;">Contracts where the recognized revenue from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:26.8275em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.037em;">the work performed exceeds progress billings are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:27.6606em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0337em;">recognized as 'work in progress' in the balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:28.4937em;"><span class="stl_202 stl_08 stl_17" style="word-spacing:-0.0435em;">sheet under assets.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:30.1606em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0375em;">Contracts for which progress billings exceed the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:30.9937em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0338em;">revenue are recognized as 'prepayments received'  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:31.8268em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0354em;">under liabilities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:33.4937em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0367em;">If it is likely that the total costs in relation to a long-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:34.3268em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">term contract will exceed the total revenue on a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:35.16em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0434em;">specific project, the expected loss is recognized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:35.9931em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0354em;">immediately in the income statement in the current  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:36.8262em;"><span class="stl_202 stl_08 stl_243">period.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.2985em;"><span class="stl_264 stl_08 stl_428" style="word-spacing:-0.0471em;">Service Level Agreements (SLA)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.1316em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0443em;">The SLA business comprise infrastructure and appli-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.9647em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.038em;">cation outsourcing services and requires the perfor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.7978em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0419em;">mance of certain performance obligations typically  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:28.631em;"><span class="stl_202 stl_08 stl_494" style="word-spacing:-0.0444em;">defined as service levels. As described below under  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.4641em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0396em;">“Outsourcing contracts”, the revenue under an  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:30.2972em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0366em;">outsourcing contract will be recognized over time.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.9641em;"><span class="stl_264 stl_08 stl_120" style="word-spacing:-0.0357em;">Outsourcing contracts  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.7972em;"><span class="stl_202 stl_08 stl_510" style="word-spacing:-0.0482em;">Outsourcing contracts consist of two activities,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:33.6303em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.036em;">preparatory project (such as transition and transfor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:34.4635em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0389em;">mation) and operation of the IT systems e.g. applica-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.2966em;"><span class="stl_202 stl_08 stl_528" style="word-spacing:-0.0459em;">tion, servers and infrastructure. These identifiable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:36.1297em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0393em;">components are accounted for differently to reflect  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:36.9628em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0437em;">the substance of the transaction.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:6.9628em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0411em;">The total contract value of the outsourcing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:7.796em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">contracts will be split into the different perfor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:8.6291em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">mance obligations depending on the activities to be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:9.4622em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">delivered. NNIT will profit align between the perfor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:10.2953em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0399em;">mance obligations within the contract (expected  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.1285em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.0331em;">cost plus margin approach).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.7953em;"><span class="stl_264 stl_08 stl_38">Transition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.6285em;"><span class="stl_202 stl_08 stl_143" style="word-spacing:-0.025em;">Transition is:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.6978em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:14.6979em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">Basic transfer of services and responsibilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.7672em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:15.7672em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0395em;">The minimum activities required that enable the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:16.6004em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">delivery organization to take over operation of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:17.4335em;z-index:2978;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0336em;">the current or similar services for the customer.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:19.1107em;"><span class="stl_833 stl_08 stl_21" style="word-spacing:-0.0398em;">The transition phase takes place in the period between  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:19.9438em;"><span class="stl_833 stl_08 stl_195" style="word-spacing:-0.0403em;">contract signing and service start up (operation).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:21.6107em;"><span class="stl_833 stl_08 stl_444" style="word-spacing:-0.0446em;">Activities performed in the transition phase do not  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:22.4438em;"><span class="stl_833 stl_08 stl_273" style="word-spacing:-0.0405em;">transfer services to the customer as they are seen as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:23.277em;"><span class="stl_833 stl_08 stl_21" style="word-spacing:-0.0409em;">‘start-up’ costs and therefore revenue cannot be recog-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:24.1107em;"><span class="stl_833 stl_08 stl_421" style="word-spacing:-0.0421em;">nized as the activities are performed but will be recog-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:24.9438em;"><span class="stl_833 stl_08 stl_261" style="word-spacing:-0.0346em;">nized over the operation period. Cost regarding the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:25.777em;"><span class="stl_833 stl_08 stl_327" style="word-spacing:-0.0385em;">transition projects is capitalized and depreciated over  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:26.6103em;z-index:3392;"><span class="stl_833 stl_08 stl_721" style="word-spacing:-0.0361em;">the contract period. Please refer to ‘Transition cost’.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:28.2774em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">Any prepayments received regarding transition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:29.1105em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">projects will be recognized as revenue over the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:29.9436em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">operation period.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:31.6105em;"><span class="stl_264 stl_08 stl_166">Transformation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:32.4436em;"><span class="stl_202 stl_08 stl_423" style="word-spacing:-0.031em;">Transformation is:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:33.513em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:33.513em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0412em;">A significant change to future state of the subject.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:34.5824em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:34.5824em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0438em;">The full set of activities required for the delivery  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:35.4155em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">organization to provide the future state operation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:36.2486em;z-index:3678;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0334em;">of services to the customer.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:6.9705em;"><span class="stl_202 stl_08 stl_251" style="word-spacing:-0.0459em;">These activities transfer services to the customer as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:7.8036em;"><span class="stl_202 stl_08 stl_478">performed.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:9.4705em;"><span class="stl_202 stl_08 stl_515" style="word-spacing:-0.0503em;">The transformation phase typically starts after the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:10.3036em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">successful completion of transition and ends when  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:11.1367em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0364em;">the environment has reached the agreed future  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:11.9699em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0394em;">state. In some circumstances the transformation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:12.803em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">phase will take place in parallel with the transition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:13.6361em;"><span class="stl_202 stl_08 stl_269">phase.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:15.303em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0381em;">Revenue regarding transformation projects is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:16.1361em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0345em;">recognized over time as an asset is created with no  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:16.9692em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">alternative use and NNIT has an enforceable right  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:17.8024em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0337em;">to payment and revenue recognition in nature is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:18.6355em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">similar to the project business.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:20.3024em;"><span class="stl_264 stl_08 stl_256" style="word-spacing:-0.0404em;">Operation of IT systems  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:21.1355em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0406em;">Revenue from the operation of IT systems is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:21.9686em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">recognized in the period in which the outsourcing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:22.8017em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.04em;">services are provided based on amounts billable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:23.6349em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0374em;">to a customer (for fixed price components in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:24.468em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0402em;">contract, revenue is typically recognized on a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:25.3011em;"><span class="stl_202 stl_08 stl_211" style="word-spacing:-0.0311em;">straight-line basis over the course of a year, while for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:26.1342em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">variable components revenue is recognized based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:26.9674em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">on usage of units, and price lists according to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:27.8005em;"><span class="stl_202 stl_08 stl_254">contract).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.7919em;z-index:22;"><span class="stl_527 stl_08 stl_405">2</span><span class="stl_527 stl_08 stl_836">.</span><span class="stl_527 stl_08 stl_217" style="word-spacing:0.1893em;">1 Segment</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:9.674em;top:9.7919em;z-index:22;"><span class="stl_527 stl_08 stl_312">information  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.2313em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">Following the implementation of the new organization on May 2, 2023, NNIT consists of four regions, which  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.0644em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">individually can be considered an operating segment:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6063em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:13.6063em;"><span class="stl_202 stl_08 stl_165" style="word-spacing:-0.0301em;">Region Denmark (excluding life sciences)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4394em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:14.4394em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0332em;">Region Europe (including life sciences in Denmark)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.2725em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:15.2725em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0332em;">Region US  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1057em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:16.1057em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0436em;">Region Asia  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.7725em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0366em;">The new regional structure has been introduced to increase customer proximity and enhance global coordina-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6057em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">tion across regions. From a financial perspective, the four regional P&amp;Ls include allocated corporate cost such  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4388em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">as legal, human resources, finance and global delivery centers. A consolidation of the four regional P&amp;Ls consti-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.2719em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0372em;">tute NNIT’s group P&amp;L and is supplemented by management commentary to provide increased transparency in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.105em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0396em;">respect of financial and business performance for each region.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.6469em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0407em;">The operating segments reflect the internal reporting that is reviewed by the “Chief Operating Decision makers”  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.48em;"><span class="stl_202 stl_08 stl_212" style="word-spacing:-0.0382em;">consisting of the Executive Management and the Board of Directors. The internal reporting includes communica-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.3132em;"><span class="stl_202 stl_08 stl_67" style="word-spacing:-0.0396em;">tion of revenue, costs and operating results for each of the operating segments. No reporting is made on assets.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.855em;"><span class="stl_202 stl_08 stl_132" style="word-spacing:-0.0276em;">Region Denmark generated 46% of the revenue in the year ended December 31, 2024 (2023: 42%), Region  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.6882em;"><span class="stl_202 stl_08 stl_174" style="word-spacing:-0.0235em;">Europe generated 28% of the revenue (2023: 27%) and Region US generated 19% in 2024 (2023: 22%) based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.5213em;z-index:1185;"><span class="stl_202 stl_08 stl_227" style="word-spacing:-0.0319em;">the location of the customer.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.0632em;"><span class="stl_202 stl_08 stl_174" style="word-spacing:-0.0235em;">The Novo Nordisk Group generated 12% of the revenue in the year ended December 31, 2024 (2023: 10%),  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.8963em;"><span class="stl_202 stl_08 stl_114" style="word-spacing:-0.0219em;">whereof 44% relates to Region Europe (2023: 41%), 27% relates to Region Asia (2023: 31%) and 27% relates to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.7294em;"><span class="stl_202 stl_08 stl_113" style="word-spacing:-0.0252em;">Region Denmark (2023: 26%).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.2713em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0346em;">For depreciations and amortizations 40% relates to Region Denmark (2023: 48%), 29% relates to Region Europe  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.1044em;"><span class="stl_202 stl_08 stl_31" style="word-spacing:-0.0211em;">(2023: 32%), 18% relates to Region US (2023: 20%) and 13% relates to Region Asia (2023: 0%).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.6463em;"><span class="stl_202 stl_08 stl_212" style="word-spacing:-0.0283em;">38% of tangible assets relates to Region Denmark (2023: 65%), 28% relates to Region Europe (2023: 26%), 33%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:35.4794em;"><span class="stl_202 stl_08 stl_217" style="word-spacing:-0.0259em;">relates to Region Asia (2023: 8%) and 1% relates to region US (2023: 1%). For intangible assets 55% relates to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.3125em;"><span class="stl_202 stl_08 stl_132" style="word-spacing:-0.0277em;">Denmark (2023: Region Denmark 56%) and 45% relates to US (2023: Region US 44%).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.2089em;top:10.7748em;"><span class="stl_264 stl_08 stl_535">Region  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.4608em;top:10.7748em;"><span class="stl_264 stl_08 stl_535">Region  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.7127em;top:10.7748em;"><span class="stl_264 stl_08 stl_535">Region  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.9645em;top:10.7748em;"><span class="stl_264 stl_08 stl_535">Region  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.5248em;"><span class="stl_264 stl_08 stl_249" style="word-spacing:-0.0348em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:50.4183em;top:11.5248em;"><span class="stl_264 stl_08 stl_34">Denmark  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.387em;top:11.5248em;"><span class="stl_264 stl_08 stl_531">Europe  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.5295em;top:11.5248em;"><span class="stl_264 stl_08 stl_512">Asia  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3102em;top:11.5248em;"><span class="stl_264 stl_08 stl_303">US  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7958em;top:11.5248em;"><span class="stl_264 stl_08 stl_157">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:13.1535em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:14.3335em;"><span class="stl_267 stl_08 stl_266">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2464em;top:14.3335em;"><span class="stl_267 stl_08 stl_809">844  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.6158em;top:14.3335em;"><span class="stl_267 stl_08 stl_816">512  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.8327em;top:14.3335em;"><span class="stl_267 stl_08 stl_341">149  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.0158em;top:14.3335em;"><span class="stl_267 stl_08 stl_460">346  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8139em;top:14.3335em;"><span class="stl_267 stl_08 stl_539">1,851  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:15.2485em;"><span class="stl_267 stl_08 stl_268" style="word-spacing:-0.0439em;">Production cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.3239em;top:15.2485em;"><span class="stl_267 stl_08 stl_397">651  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.5527em;top:15.2485em;"><span class="stl_267 stl_08 stl_135">391  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.8252em;top:15.2485em;"><span class="stl_267 stl_08 stl_185">123  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.0552em;top:15.2485em;"><span class="stl_267 stl_08 stl_208">207  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7758em;top:15.2485em;"><span class="stl_267 stl_08 stl_27">1,372  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.4285em;"><span class="stl_264 stl_08 stl_305" style="word-spacing:-0.0422em;">Gross profit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.3002em;top:16.4285em;"><span class="stl_274 stl_08 stl_170">193  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.5608em;top:16.4285em;"><span class="stl_274 stl_08 stl_366">121  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.1558em;top:16.4285em;"><span class="stl_274 stl_08 stl_289">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.0545em;top:16.4285em;"><span class="stl_274 stl_08 stl_164">139  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2914em;top:16.4285em;"><span class="stl_274 stl_08 stl_204">479  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:17.3435em;"><span class="stl_807 stl_08 stl_253" style="word-spacing:-0.0384em;">Gross profit Margin  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.6589em;top:17.3435em;"><span class="stl_807 stl_08 stl_215">22.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.9195em;top:17.3435em;"><span class="stl_807 stl_08 stl_148">23.6%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.2371em;top:17.3435em;"><span class="stl_807 stl_08 stl_641">17.2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3964em;top:17.3435em;"><span class="stl_807 stl_08 stl_332">40.0%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6589em;top:17.3435em;"><span class="stl_807 stl_08 stl_320">25.8%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:18.5235em;"><span class="stl_264 stl_08 stl_245" style="word-spacing:-0.0349em;">Regional operating profit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.3239em;top:18.5235em;"><span class="stl_274 stl_08 stl_185">151  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.9089em;top:18.5235em;"><span class="stl_274 stl_08 stl_520">67  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.5339em;top:18.5235em;"><span class="stl_274 stl_08 stl_19">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4021em;top:18.5235em;"><span class="stl_274 stl_08 stl_460">73  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2733em;top:18.5235em;"><span class="stl_274 stl_08 stl_838">299  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:19.4385em;"><span class="stl_807 stl_08 stl_234" style="word-spacing:-0.0373em;">Regional operating profit margin  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.7446em;top:19.4385em;"><span class="stl_807 stl_08 stl_141">17.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.9433em;top:19.4385em;"><span class="stl_807 stl_08 stl_302">13.0%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.6771em;top:19.4385em;"><span class="stl_807 stl_08 stl_90">5.2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4502em;top:19.4385em;"><span class="stl_807 stl_08 stl_97">21.2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6789em;top:19.4385em;"><span class="stl_807 stl_08 stl_112">16.2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:20.6185em;"><span class="stl_264 stl_08 stl_231" style="word-spacing:-0.0368em;">Group operating profit</span><sup style="top: -0.2086em;"><span class="stl_837 stl_08 stl_736" style="word-spacing:-0.0632em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6444em;top:20.6181em;"><span class="stl_274 stl_08 stl_471">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.9232em;top:20.6181em;"><span class="stl_274 stl_08 stl_468">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.3019em;top:20.6181em;"><span class="stl_274 stl_08 stl_165">(6)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4069em;top:20.6181em;"><span class="stl_274 stl_08 stl_307">39  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3438em;top:20.6181em;"><span class="stl_274 stl_08 stl_64">117  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:21.5331em;"><span class="stl_807 stl_08 stl_226" style="word-spacing:-0.0355em;">Group operating profit margin  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.0756em;top:21.5331em;z-index:2183;"><span class="stl_807 stl_08 stl_707">8</span><span class="stl_807 stl_08 stl_839">.</span><span class="stl_807 stl_08 stl_288">1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.3344em;top:21.5331em;"><span class="stl_807 stl_08 stl_840">3.1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.3181em;top:21.5331em;"><span class="stl_807 stl_08 stl_211">(4.0)%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4819em;top:21.5331em;"><span class="stl_807 stl_08 stl_688">11.3%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.0006em;top:21.5331em;"><span class="stl_807 stl_08 stl_344">6.3%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7394em;top:22.9724em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7394em;top:24.1524em;"><span class="stl_267 stl_08 stl_266">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2825em;top:24.1524em;"><span class="stl_267 stl_08 stl_523">732  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.5269em;top:24.1524em;"><span class="stl_267 stl_08 stl_734">465  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.7994em;top:24.1524em;"><span class="stl_267 stl_08 stl_286">1</span><span class="stl_267 stl_08 stl_287">4</span><span class="stl_267 stl_08 stl_287">4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.0394em;top:24.1524em;"><span class="stl_267 stl_08 stl_528">387  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8013em;top:24.1524em;"><span class="stl_267 stl_08 stl_157">1,728  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7394em;top:25.0674em;"><span class="stl_267 stl_08 stl_268" style="word-spacing:-0.0439em;">Production cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2788em;top:25.0674em;"><span class="stl_267 stl_08 stl_518">566  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.53em;top:25.0674em;"><span class="stl_267 stl_08 stl_516">330  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.835em;top:25.0674em;"><span class="stl_267 stl_08 stl_841">135  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.0457em;top:25.0674em;"><span class="stl_267 stl_08 stl_203">252  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7725em;top:25.0674em;"><span class="stl_267 stl_08 stl_163">1,283  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:26.2474em;"><span class="stl_264 stl_08 stl_305" style="word-spacing:-0.0422em;">Gross profit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2863em;top:26.2474em;"><span class="stl_274 stl_08 stl_528">166  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.5494em;top:26.2474em;"><span class="stl_274 stl_08 stl_58">135  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.5325em;top:26.2474em;"><span class="stl_274 stl_08 stl_19">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.0531em;top:26.2474em;"><span class="stl_274 stl_08 stl_58">135  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2556em;top:26.2474em;"><span class="stl_274 stl_08 stl_458">445  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7394em;top:27.1624em;"><span class="stl_807 stl_08 stl_253" style="word-spacing:-0.0384em;">Gross profit Margin  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.6769em;top:27.1624em;"><span class="stl_807 stl_08 stl_127">22.7%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.9125em;top:27.1624em;"><span class="stl_807 stl_08 stl_165">29.0%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.4963em;top:27.1624em;"><span class="stl_807 stl_08 stl_344">6.3%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3906em;top:27.1624em;"><span class="stl_807 stl_08 stl_351">34.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6569em;top:27.1624em;"><span class="stl_807 stl_08 stl_320">25.8%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7388em;top:28.5143em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0348em;">Regional operating profit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2938em;top:28.5143em;"><span class="stl_274 stl_08 stl_233">133  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.9031em;top:28.5143em;"><span class="stl_274 stl_08 stl_602">78  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.3125em;top:28.5143em;"><span class="stl_274 stl_08 stl_620">(4)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4013em;top:28.5143em;"><span class="stl_274 stl_08 stl_577">80  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2713em;top:28.5143em;"><span class="stl_274 stl_08 stl_594">287  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7388em;top:29.4293em;"><span class="stl_807 stl_08 stl_234" style="word-spacing:-0.0373em;">Regional operating profit margin  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.6694em;top:29.4293em;"><span class="stl_807 stl_08 stl_112">18.2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.9263em;top:29.4293em;"><span class="stl_807 stl_08 stl_53">16.8%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.31em;top:29.4293em;"><span class="stl_807 stl_08 stl_226">(2.8)%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4325em;top:29.4293em;"><span class="stl_807 stl_08 stl_33">20.7%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7025em;top:29.4293em;"><span class="stl_807 stl_08 stl_107">16.6%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7394em;top:30.6093em;"><span class="stl_264 stl_08 stl_203" style="word-spacing:-0.0371em;">Group operating profit</span><sup style="top: -0.2075em;"><span class="stl_837 stl_08 stl_543" style="word-spacing:-0.0636em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6455em;top:30.6099em;"><span class="stl_274 stl_08 stl_460">60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.9042em;top:30.6099em;"><span class="stl_274 stl_08 stl_602">32  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.963em;top:30.6099em;"><span class="stl_274 stl_08 stl_378">(18)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.403em;top:30.6099em;"><span class="stl_274 stl_08 stl_594">42  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3373em;top:30.6099em;"><span class="stl_274 stl_08 stl_728">116  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7398em;top:31.5249em;"><span class="stl_807 stl_08 stl_226" style="word-spacing:-0.0356em;">Group operating profit margin  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.9898em;top:31.5249em;"><span class="stl_807 stl_08 stl_442">8.2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.2567em;top:31.5249em;"><span class="stl_807 stl_08 stl_256">6.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.0142em;top:31.5249em;"><span class="stl_807 stl_08 stl_468">(12.5)%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.438em;top:31.5249em;"><span class="stl_807 stl_08 stl_162">10.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.0323em;top:31.5249em;"><span class="stl_807 stl_08 stl_135">6.7%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:32.9611em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_520" style="word-spacing:-0.0522em;">ꢀWhen deducting speciel items and net financials consolidated profit before income taxes is obtained.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.8181em;"><span class="stl_264 stl_08 stl_424" style="word-spacing:-0.0303em;">Recognition of revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.6512em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">Revenue is the fair value of the transaction price  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:13.4843em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0399em;">or receivable from the sale of our services and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.3175em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">customized. IT applications and is the gross sales  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.1506em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.0331em;">price less VAT and any price reductions in the form  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.9837em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">of discounts and rebates.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.6506em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0339em;">Revenue can be recognized over time or at a point  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:18.4837em;"><span class="stl_202 stl_08 stl_146" style="word-spacing:-0.0305em;">in time.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.1506em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0345em;">Revenue is recognized over time when an asset on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.9837em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">behalf of a customer is created with no alternative  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.8168em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0347em;">use and NNIT has an enforceable right to payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:22.65em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0339em;">for performance completed year to date, or the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.4831em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">customer obtains control of a service and thus has  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:24.3162em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0434em;">the ability to direct the use and obtain the benefit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.1493em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0433em;">from the service.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.8162em;"><span class="stl_202 stl_08 stl_695" style="word-spacing:-0.0508em;">NNIT has two different types of businesses 'projects'  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.6493em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">and 'Service Level agreements' (SLA) where revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:28.4825em;"><span class="stl_202 stl_08 stl_67" style="word-spacing:-0.0298em;">recognition is treated differently. Refer to note 1.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.3156em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0383em;">General accounting policies for further details.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:30.9825em;"><span class="stl_264 stl_08 stl_230">Projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.8156em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">The project business is characterized by being  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.6487em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.037em;">deliveries which in nature are negotiated contracts  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:33.4818em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0425em;">based on consumption and typically comprise advi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:34.315em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0421em;">sory, design and development activities. Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.1481em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0351em;">will be recognized over time, as the 'no alternative  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.9812em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0346em;">use' criteria's are met, using 'the percentage of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:36.8143em;"><span class="stl_202 stl_08 stl_269" style="word-spacing:-0.0318em;">completion method'.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.83em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0427em;">For fixed priced projects the proportion of revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.6631em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0375em;">to be recognized in a particular period is calcu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.4962em;"><span class="stl_202 stl_08 stl_67" style="word-spacing:-0.0297em;">lated according to the percentage of completion  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.3293em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0436em;">of the project. For most contracts this is meas-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.1625em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0362em;">ured by reference to the costs of performing the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.9956em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0365em;">contract incurred up to the relevant balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.8287em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0364em;">date as a percentage of the total estimated costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:17.6618em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">of performing the contract. Reference to cost is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:18.495em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0398em;">assessed to be the most appropriate method as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:19.3281em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">incurred hours are the value driver for the projects.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.1612em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">The sales value agreed in the contract is recognized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.9943em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0395em;">over the contract period using above method.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:22.6612em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.039em;">For time-and material contracts, we recognize  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:23.4943em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0368em;">revenue as performance takes place based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:24.3275em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0401em;">actual hours incurred.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:25.9943em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0356em;">Contracts where the recognized revenue from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:26.8275em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.037em;">the work performed exceeds progress billings are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:27.6606em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0337em;">recognized as 'work in progress' in the balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:28.4937em;"><span class="stl_202 stl_08 stl_17" style="word-spacing:-0.0435em;">sheet under assets.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:30.1606em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0375em;">Contracts for which progress billings exceed the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:30.9937em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0338em;">revenue are recognized as 'prepayments received'  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:31.8268em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0354em;">under liabilities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:33.4937em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0367em;">If it is likely that the total costs in relation to a long-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:34.3268em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">term contract will exceed the total revenue on a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:35.16em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0434em;">specific project, the expected loss is recognized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:35.9931em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0354em;">immediately in the income statement in the current  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:36.8262em;"><span class="stl_202 stl_08 stl_243">period.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.2985em;"><span class="stl_264 stl_08 stl_428" style="word-spacing:-0.0471em;">Service Level Agreements (SLA)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.1316em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0443em;">The SLA business comprise infrastructure and appli-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.9647em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.038em;">cation outsourcing services and requires the perfor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.7978em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0419em;">mance of certain performance obligations typically  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:28.631em;"><span class="stl_202 stl_08 stl_494" style="word-spacing:-0.0444em;">defined as service levels. As described below under  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.4641em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0396em;">“Outsourcing contracts”, the revenue under an  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:30.2972em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0366em;">outsourcing contract will be recognized over time.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.9641em;"><span class="stl_264 stl_08 stl_120" style="word-spacing:-0.0357em;">Outsourcing contracts  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.7972em;"><span class="stl_202 stl_08 stl_510" style="word-spacing:-0.0482em;">Outsourcing contracts consist of two activities,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:33.6303em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.036em;">preparatory project (such as transition and transfor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:34.4635em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0389em;">mation) and operation of the IT systems e.g. applica-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.2966em;"><span class="stl_202 stl_08 stl_528" style="word-spacing:-0.0459em;">tion, servers and infrastructure. These identifiable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:36.1297em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0393em;">components are accounted for differently to reflect  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:36.9628em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0437em;">the substance of the transaction.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:6.9628em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0411em;">The total contract value of the outsourcing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:7.796em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">contracts will be split into the different perfor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:8.6291em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">mance obligations depending on the activities to be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:9.4622em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">delivered. NNIT will profit align between the perfor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:10.2953em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0399em;">mance obligations within the contract (expected  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.1285em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.0331em;">cost plus margin approach).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.7953em;"><span class="stl_264 stl_08 stl_38">Transition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.6285em;"><span class="stl_202 stl_08 stl_143" style="word-spacing:-0.025em;">Transition is:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.6978em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:14.6979em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">Basic transfer of services and responsibilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.7672em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:15.7672em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0395em;">The minimum activities required that enable the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:16.6004em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">delivery organization to take over operation of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:17.4335em;z-index:2978;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0336em;">the current or similar services for the customer.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:19.1107em;"><span class="stl_833 stl_08 stl_21" style="word-spacing:-0.0398em;">The transition phase takes place in the period between  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:19.9438em;"><span class="stl_833 stl_08 stl_195" style="word-spacing:-0.0403em;">contract signing and service start up (operation).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:21.6107em;"><span class="stl_833 stl_08 stl_444" style="word-spacing:-0.0446em;">Activities performed in the transition phase do not  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:22.4438em;"><span class="stl_833 stl_08 stl_273" style="word-spacing:-0.0405em;">transfer services to the customer as they are seen as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:23.277em;"><span class="stl_833 stl_08 stl_21" style="word-spacing:-0.0409em;">‘start-up’ costs and therefore revenue cannot be recog-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:24.1107em;"><span class="stl_833 stl_08 stl_421" style="word-spacing:-0.0421em;">nized as the activities are performed but will be recog-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:24.9438em;"><span class="stl_833 stl_08 stl_261" style="word-spacing:-0.0346em;">nized over the operation period. Cost regarding the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:25.777em;"><span class="stl_833 stl_08 stl_327" style="word-spacing:-0.0385em;">transition projects is capitalized and depreciated over  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01 stl_832" style="left:38.7402em;top:26.6103em;z-index:3392;"><span class="stl_833 stl_08 stl_721" style="word-spacing:-0.0361em;">the contract period. Please refer to ‘Transition cost’.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:28.2774em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">Any prepayments received regarding transition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:29.1105em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">projects will be recognized as revenue over the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:29.9436em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">operation period.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:31.6105em;"><span class="stl_264 stl_08 stl_166">Transformation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:32.4436em;"><span class="stl_202 stl_08 stl_423" style="word-spacing:-0.031em;">Transformation is:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:33.513em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:33.513em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0412em;">A significant change to future state of the subject.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:34.5824em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:34.5824em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0438em;">The full set of activities required for the delivery  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:35.4155em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">organization to provide the future state operation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:36.2486em;z-index:3678;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0334em;">of services to the customer.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:6.9705em;"><span class="stl_202 stl_08 stl_251" style="word-spacing:-0.0459em;">These activities transfer services to the customer as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:7.8036em;"><span class="stl_202 stl_08 stl_478">performed.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:9.4705em;"><span class="stl_202 stl_08 stl_515" style="word-spacing:-0.0503em;">The transformation phase typically starts after the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:10.3036em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">successful completion of transition and ends when  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:11.1367em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0364em;">the environment has reached the agreed future  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:11.9699em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0394em;">state. In some circumstances the transformation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:12.803em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">phase will take place in parallel with the transition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:13.6361em;"><span class="stl_202 stl_08 stl_269">phase.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:15.303em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0381em;">Revenue regarding transformation projects is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:16.1361em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0345em;">recognized over time as an asset is created with no  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:16.9692em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">alternative use and NNIT has an enforceable right  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:17.8024em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0337em;">to payment and revenue recognition in nature is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:18.6355em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">similar to the project business.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:20.3024em;"><span class="stl_264 stl_08 stl_256" style="word-spacing:-0.0404em;">Operation of IT systems  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:21.1355em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0406em;">Revenue from the operation of IT systems is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:21.9686em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">recognized in the period in which the outsourcing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:22.8017em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.04em;">services are provided based on amounts billable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:23.6349em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0374em;">to a customer (for fixed price components in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:24.468em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0402em;">contract, revenue is typically recognized on a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:25.3011em;"><span class="stl_202 stl_08 stl_211" style="word-spacing:-0.0311em;">straight-line basis over the course of a year, while for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:26.1342em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">variable components revenue is recognized based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:26.9674em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">on usage of units, and price lists according to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:27.8005em;"><span class="stl_202 stl_08 stl_254">contract).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.2997em;"><span class="stl_264 stl_08 stl_237" style="word-spacing:-0.0354em;">Work in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.1328em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0338em;">The determination of the percentage of completion  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.966em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0374em;">of work in progress related to fixed price projects is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.7991em;"><span class="stl_202 stl_08 stl_235" style="word-spacing:-0.0415em;">based on estimates of future costs, hours and mate-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:18.6322em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">rials. Each project is unique in their design. Manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.4653em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0398em;">ment makes judgements on individual assessments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.2985em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">of specific projects and their associated risk from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.1316em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.041em;">the on-going monitoring, to identify any deviations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.9647em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0396em;">from estimates.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.6316em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">Adjustments to cost estimates may be made peri-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:24.4647em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0349em;">odically following management review, which may  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.2978em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0345em;">result in a re-assessment of the percentage of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.131em;"><span class="stl_202 stl_08 stl_269" style="word-spacing:-0.0317em;">completion as of the date of review. Such changes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.9641em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">result in revisions to revenue attributable to work  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.7972em;"><span class="stl_202 stl_08 stl_250" style="word-spacing:-0.043em;">performed up until the date of revision. The effect  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:28.6303em;"><span class="stl_202 stl_08 stl_227" style="word-spacing:-0.0321em;">of such changes in estimates is recognized as a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.4635em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">change to revenue in the period in which the revi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:30.2966em;"><span class="stl_202 stl_08 stl_186" style="word-spacing:-0.0315em;">sions are determined.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.7919em;z-index:22;"><span class="stl_527 stl_08 stl_405">2</span><span class="stl_527 stl_08 stl_836">.</span><span class="stl_527 stl_08 stl_217" style="word-spacing:0.1893em;">1 Segment</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:9.674em;top:9.7919em;z-index:22;"><span class="stl_527 stl_08 stl_312">information  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.2313em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">Following the implementation of the new organization on May 2, 2023, NNIT consists of four regions, which  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.0644em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">individually can be considered an operating segment:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6063em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:13.6063em;"><span class="stl_202 stl_08 stl_165" style="word-spacing:-0.0301em;">Region Denmark (excluding life sciences)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4394em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:14.4394em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0332em;">Region Europe (including life sciences in Denmark)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.2725em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:15.2725em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0332em;">Region US  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1057em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:16.1057em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0436em;">Region Asia  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.7725em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0366em;">The new regional structure has been introduced to increase customer proximity and enhance global coordina-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6057em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">tion across regions. From a financial perspective, the four regional P&amp;Ls include allocated corporate cost such  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4388em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">as legal, human resources, finance and global delivery centers. A consolidation of the four regional P&amp;Ls consti-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.2719em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0372em;">tute NNIT’s group P&amp;L and is supplemented by management commentary to provide increased transparency in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.105em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0396em;">respect of financial and business performance for each region.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.6469em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0407em;">The operating segments reflect the internal reporting that is reviewed by the “Chief Operating Decision makers”  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.48em;"><span class="stl_202 stl_08 stl_212" style="word-spacing:-0.0382em;">consisting of the Executive Management and the Board of Directors. The internal reporting includes communica-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.3132em;"><span class="stl_202 stl_08 stl_67" style="word-spacing:-0.0396em;">tion of revenue, costs and operating results for each of the operating segments. No reporting is made on assets.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.855em;"><span class="stl_202 stl_08 stl_132" style="word-spacing:-0.0276em;">Region Denmark generated 46% of the revenue in the year ended December 31, 2024 (2023: 42%), Region  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.6882em;"><span class="stl_202 stl_08 stl_174" style="word-spacing:-0.0235em;">Europe generated 28% of the revenue (2023: 27%) and Region US generated 19% in 2024 (2023: 22%) based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.5213em;z-index:1185;"><span class="stl_202 stl_08 stl_227" style="word-spacing:-0.0319em;">the location of the customer.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.0632em;"><span class="stl_202 stl_08 stl_174" style="word-spacing:-0.0235em;">The Novo Nordisk Group generated 12% of the revenue in the year ended December 31, 2024 (2023: 10%),  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.8963em;"><span class="stl_202 stl_08 stl_114" style="word-spacing:-0.0219em;">whereof 44% relates to Region Europe (2023: 41%), 27% relates to Region Asia (2023: 31%) and 27% relates to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.7294em;"><span class="stl_202 stl_08 stl_113" style="word-spacing:-0.0252em;">Region Denmark (2023: 26%).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.2713em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0346em;">For depreciations and amortizations 40% relates to Region Denmark (2023: 48%), 29% relates to Region Europe  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.1044em;"><span class="stl_202 stl_08 stl_31" style="word-spacing:-0.0211em;">(2023: 32%), 18% relates to Region US (2023: 20%) and 13% relates to Region Asia (2023: 0%).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.6463em;"><span class="stl_202 stl_08 stl_212" style="word-spacing:-0.0283em;">38% of tangible assets relates to Region Denmark (2023: 65%), 28% relates to Region Europe (2023: 26%), 33%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:35.4794em;"><span class="stl_202 stl_08 stl_217" style="word-spacing:-0.0259em;">relates to Region Asia (2023: 8%) and 1% relates to region US (2023: 1%). For intangible assets 55% relates to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.3125em;"><span class="stl_202 stl_08 stl_132" style="word-spacing:-0.0277em;">Denmark (2023: Region Denmark 56%) and 45% relates to US (2023: Region US 44%).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.2089em;top:10.7748em;"><span class="stl_264 stl_08 stl_535">Region  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.4608em;top:10.7748em;"><span class="stl_264 stl_08 stl_535">Region  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.7127em;top:10.7748em;"><span class="stl_264 stl_08 stl_535">Region  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.9645em;top:10.7748em;"><span class="stl_264 stl_08 stl_535">Region  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.5248em;"><span class="stl_264 stl_08 stl_249" style="word-spacing:-0.0348em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:50.4183em;top:11.5248em;"><span class="stl_264 stl_08 stl_34">Denmark  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.387em;top:11.5248em;"><span class="stl_264 stl_08 stl_531">Europe  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.5295em;top:11.5248em;"><span class="stl_264 stl_08 stl_512">Asia  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3102em;top:11.5248em;"><span class="stl_264 stl_08 stl_303">US  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7958em;top:11.5248em;"><span class="stl_264 stl_08 stl_157">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:13.1535em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:14.3335em;"><span class="stl_267 stl_08 stl_266">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2464em;top:14.3335em;"><span class="stl_267 stl_08 stl_809">844  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.6158em;top:14.3335em;"><span class="stl_267 stl_08 stl_816">512  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.8327em;top:14.3335em;"><span class="stl_267 stl_08 stl_341">149  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.0158em;top:14.3335em;"><span class="stl_267 stl_08 stl_460">346  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8139em;top:14.3335em;"><span class="stl_267 stl_08 stl_539">1,851  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:15.2485em;"><span class="stl_267 stl_08 stl_268" style="word-spacing:-0.0439em;">Production cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.3239em;top:15.2485em;"><span class="stl_267 stl_08 stl_397">651  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.5527em;top:15.2485em;"><span class="stl_267 stl_08 stl_135">391  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.8252em;top:15.2485em;"><span class="stl_267 stl_08 stl_185">123  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.0552em;top:15.2485em;"><span class="stl_267 stl_08 stl_208">207  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7758em;top:15.2485em;"><span class="stl_267 stl_08 stl_27">1,372  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.4285em;"><span class="stl_264 stl_08 stl_305" style="word-spacing:-0.0422em;">Gross profit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.3002em;top:16.4285em;"><span class="stl_274 stl_08 stl_170">193  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.5608em;top:16.4285em;"><span class="stl_274 stl_08 stl_366">121  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.1558em;top:16.4285em;"><span class="stl_274 stl_08 stl_289">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.0545em;top:16.4285em;"><span class="stl_274 stl_08 stl_164">139  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2914em;top:16.4285em;"><span class="stl_274 stl_08 stl_204">479  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:17.3435em;"><span class="stl_807 stl_08 stl_253" style="word-spacing:-0.0384em;">Gross profit Margin  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.6589em;top:17.3435em;"><span class="stl_807 stl_08 stl_215">22.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.9195em;top:17.3435em;"><span class="stl_807 stl_08 stl_148">23.6%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.2371em;top:17.3435em;"><span class="stl_807 stl_08 stl_641">17.2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3964em;top:17.3435em;"><span class="stl_807 stl_08 stl_332">40.0%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6589em;top:17.3435em;"><span class="stl_807 stl_08 stl_320">25.8%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:18.5235em;"><span class="stl_264 stl_08 stl_245" style="word-spacing:-0.0349em;">Regional operating profit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.3239em;top:18.5235em;"><span class="stl_274 stl_08 stl_185">151  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.9089em;top:18.5235em;"><span class="stl_274 stl_08 stl_520">67  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.5339em;top:18.5235em;"><span class="stl_274 stl_08 stl_19">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4021em;top:18.5235em;"><span class="stl_274 stl_08 stl_460">73  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2733em;top:18.5235em;"><span class="stl_274 stl_08 stl_838">299  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:19.4385em;"><span class="stl_807 stl_08 stl_234" style="word-spacing:-0.0373em;">Regional operating profit margin  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.7446em;top:19.4385em;"><span class="stl_807 stl_08 stl_141">17.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.9433em;top:19.4385em;"><span class="stl_807 stl_08 stl_302">13.0%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.6771em;top:19.4385em;"><span class="stl_807 stl_08 stl_90">5.2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4502em;top:19.4385em;"><span class="stl_807 stl_08 stl_97">21.2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6789em;top:19.4385em;"><span class="stl_807 stl_08 stl_112">16.2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:20.6185em;"><span class="stl_264 stl_08 stl_231" style="word-spacing:-0.0368em;">Group operating profit</span><sup style="top: -0.2086em;"><span class="stl_837 stl_08 stl_736" style="word-spacing:-0.0632em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6444em;top:20.6181em;"><span class="stl_274 stl_08 stl_471">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.9232em;top:20.6181em;"><span class="stl_274 stl_08 stl_468">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.3019em;top:20.6181em;"><span class="stl_274 stl_08 stl_165">(6)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4069em;top:20.6181em;"><span class="stl_274 stl_08 stl_307">39  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3438em;top:20.6181em;"><span class="stl_274 stl_08 stl_64">117  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:21.5331em;"><span class="stl_807 stl_08 stl_226" style="word-spacing:-0.0355em;">Group operating profit margin  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.0756em;top:21.5331em;z-index:2183;"><span class="stl_807 stl_08 stl_707">8</span><span class="stl_807 stl_08 stl_839">.</span><span class="stl_807 stl_08 stl_288">1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.3344em;top:21.5331em;"><span class="stl_807 stl_08 stl_840">3.1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.3181em;top:21.5331em;"><span class="stl_807 stl_08 stl_211">(4.0)%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4819em;top:21.5331em;"><span class="stl_807 stl_08 stl_688">11.3%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.0006em;top:21.5331em;"><span class="stl_807 stl_08 stl_344">6.3%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7394em;top:22.9724em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7394em;top:24.1524em;"><span class="stl_267 stl_08 stl_266">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2825em;top:24.1524em;"><span class="stl_267 stl_08 stl_523">732  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.5269em;top:24.1524em;"><span class="stl_267 stl_08 stl_734">465  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.7994em;top:24.1524em;"><span class="stl_267 stl_08 stl_286">1</span><span class="stl_267 stl_08 stl_287">4</span><span class="stl_267 stl_08 stl_287">4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.0394em;top:24.1524em;"><span class="stl_267 stl_08 stl_528">387  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8013em;top:24.1524em;"><span class="stl_267 stl_08 stl_157">1,728  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7394em;top:25.0674em;"><span class="stl_267 stl_08 stl_268" style="word-spacing:-0.0439em;">Production cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2788em;top:25.0674em;"><span class="stl_267 stl_08 stl_518">566  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.53em;top:25.0674em;"><span class="stl_267 stl_08 stl_516">330  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.835em;top:25.0674em;"><span class="stl_267 stl_08 stl_841">135  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.0457em;top:25.0674em;"><span class="stl_267 stl_08 stl_203">252  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7725em;top:25.0674em;"><span class="stl_267 stl_08 stl_163">1,283  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:26.2474em;"><span class="stl_264 stl_08 stl_305" style="word-spacing:-0.0422em;">Gross profit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2863em;top:26.2474em;"><span class="stl_274 stl_08 stl_528">166  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.5494em;top:26.2474em;"><span class="stl_274 stl_08 stl_58">135  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.5325em;top:26.2474em;"><span class="stl_274 stl_08 stl_19">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.0531em;top:26.2474em;"><span class="stl_274 stl_08 stl_58">135  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2556em;top:26.2474em;"><span class="stl_274 stl_08 stl_458">445  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7394em;top:27.1624em;"><span class="stl_807 stl_08 stl_253" style="word-spacing:-0.0384em;">Gross profit Margin  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.6769em;top:27.1624em;"><span class="stl_807 stl_08 stl_127">22.7%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.9125em;top:27.1624em;"><span class="stl_807 stl_08 stl_165">29.0%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.4963em;top:27.1624em;"><span class="stl_807 stl_08 stl_344">6.3%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3906em;top:27.1624em;"><span class="stl_807 stl_08 stl_351">34.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6569em;top:27.1624em;"><span class="stl_807 stl_08 stl_320">25.8%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7388em;top:28.5143em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0348em;">Regional operating profit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2938em;top:28.5143em;"><span class="stl_274 stl_08 stl_233">133  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.9031em;top:28.5143em;"><span class="stl_274 stl_08 stl_602">78  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.3125em;top:28.5143em;"><span class="stl_274 stl_08 stl_620">(4)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4013em;top:28.5143em;"><span class="stl_274 stl_08 stl_577">80  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2713em;top:28.5143em;"><span class="stl_274 stl_08 stl_594">287  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7388em;top:29.4293em;"><span class="stl_807 stl_08 stl_234" style="word-spacing:-0.0373em;">Regional operating profit margin  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.6694em;top:29.4293em;"><span class="stl_807 stl_08 stl_112">18.2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.9263em;top:29.4293em;"><span class="stl_807 stl_08 stl_53">16.8%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.31em;top:29.4293em;"><span class="stl_807 stl_08 stl_226">(2.8)%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4325em;top:29.4293em;"><span class="stl_807 stl_08 stl_33">20.7%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7025em;top:29.4293em;"><span class="stl_807 stl_08 stl_107">16.6%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7394em;top:30.6093em;"><span class="stl_264 stl_08 stl_203" style="word-spacing:-0.0371em;">Group operating profit</span><sup style="top: -0.2075em;"><span class="stl_837 stl_08 stl_543" style="word-spacing:-0.0636em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6455em;top:30.6099em;"><span class="stl_274 stl_08 stl_460">60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.9042em;top:30.6099em;"><span class="stl_274 stl_08 stl_602">32  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.963em;top:30.6099em;"><span class="stl_274 stl_08 stl_378">(18)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.403em;top:30.6099em;"><span class="stl_274 stl_08 stl_594">42  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3373em;top:30.6099em;"><span class="stl_274 stl_08 stl_728">116  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7398em;top:31.5249em;"><span class="stl_807 stl_08 stl_226" style="word-spacing:-0.0356em;">Group operating profit margin  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.9898em;top:31.5249em;"><span class="stl_807 stl_08 stl_442">8.2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.2567em;top:31.5249em;"><span class="stl_807 stl_08 stl_256">6.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.0142em;top:31.5249em;"><span class="stl_807 stl_08 stl_468">(12.5)%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.438em;top:31.5249em;"><span class="stl_807 stl_08 stl_162">10.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.0323em;top:31.5249em;"><span class="stl_807 stl_08 stl_135">6.7%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:32.9611em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_520" style="word-spacing:-0.0522em;">ꢀWhen deducting speciel items and net financials consolidated profit before income taxes is obtained.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_168" style="word-spacing:0.0497em;">3.4 Contract balances  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_264 stl_08 stl_340" style="word-spacing:-0.0339em;">Contract assets and liabilities, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6452em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:8.6452em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:8.6452em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3089em;"><span class="stl_267 stl_08 stl_249" style="word-spacing:-0.0347em;">Trade receivables as specified in note 3.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.585em;top:10.3089em;"><span class="stl_267 stl_08 stl_184">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3094em;top:10.3089em;"><span class="stl_267 stl_08 stl_184">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.9139em;"><span class="stl_267 stl_08 stl_408" style="word-spacing:-0.039em;">Contract assets from continuing operations comprise:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.9239em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.0383em;">Work in progress (projects)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9594em;top:12.9239em;"><span class="stl_267 stl_08 stl_286">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6569em;top:12.9239em;"><span class="stl_267 stl_08 stl_135">67  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.9339em;"><span class="stl_267 stl_08 stl_387" style="word-spacing:-0.0337em;">Transition projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9594em;top:13.9339em;"><span class="stl_267 stl_08 stl_286">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6913em;top:13.9339em;"><span class="stl_267 stl_08 stl_818">17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.5389em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.041em;">Contract liabilities from continuing activities comprise:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.5489em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0411em;">Prepayments received, work in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7113em;top:16.5489em;"><span class="stl_267 stl_08 stl_308">(30)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4688em;top:16.5489em;"><span class="stl_267 stl_08 stl_343">(74)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.5589em;"><span class="stl_267 stl_08 stl_280" style="word-spacing:-0.0414em;">Prepayments received, transition cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7713em;top:17.5589em;"><span class="stl_267 stl_08 stl_142">(16)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4519em;top:17.5589em;"><span class="stl_267 stl_08 stl_181">(20)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.5689em;"><span class="stl_267 stl_08 stl_244" style="word-spacing:-0.0378em;">Deferred income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7069em;top:18.5689em;"><span class="stl_267 stl_08 stl_403">(27)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.445em;top:18.5689em;"><span class="stl_267 stl_08 stl_340">(67)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.1802em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">Work in progress relates to projects where the recognized revenue from work performed exceeds progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.0133em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0356em;">billings. Prepayments received, work in progress relates to projects where the progress billing exceeds work  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.8464em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0373em;">performed. Prepayments received transition cost relates to prepayments received regarding transition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.6796em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">projects. As such the balances of these accounts vary and depend on the number of new projects at the end of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.5127em;z-index:759;"><span class="stl_202 stl_08 stl_198" style="word-spacing:-0.0107em;">the year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.8308em;top:6.4283em;"><span class="stl_263 stl_08 stl_266">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.1333em;top:7.1783em;"><span class="stl_263 stl_08 stl_387">recognized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.5552em;top:7.1783em;"><span class="stl_263 stl_08 stl_266">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.9533em;top:7.9283em;"><span class="stl_263 stl_08 stl_246">from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.8577em;top:7.9283em;"><span class="stl_263 stl_08 stl_387">recognized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:50.8277em;top:8.6783em;"><span class="stl_263 stl_08 stl_529">Opening  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.9714em;top:8.6783em;"><span class="stl_263 stl_08 stl_201">opening  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.2427em;top:8.6783em;"><span class="stl_263 stl_08 stl_73">regarding  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.2145em;top:8.6783em;"><span class="stl_263 stl_08 stl_201">Closing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.4283em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0533em;top:9.4283em;"><span class="stl_263 stl_08 stl_492">balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.5458em;top:9.4283em;"><span class="stl_263 stl_08 stl_320">Additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0852em;top:9.4283em;"><span class="stl_263 stl_08 stl_492">balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.3345em;top:9.4283em;"><span class="stl_263 stl_08 stl_236">additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.0614em;top:9.4283em;"><span class="stl_263 stl_08 stl_492">balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.092em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.352em;"><span class="stl_267 stl_08 stl_91" style="word-spacing:-0.0425em;">Prepayments received,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.1852em;"><span class="stl_267 stl_08 stl_321" style="word-spacing:-0.0396em;">work in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.4764em;top:13.1852em;"><span class="stl_267 stl_08 stl_343">(74)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.2308em;top:13.1852em;"><span class="stl_267 stl_08 stl_255">(46)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.6908em;top:13.1852em;"><span class="stl_267 stl_08 stl_226">65  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4114em;top:13.1852em;"><span class="stl_267 stl_08 stl_351">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4514em;top:13.1852em;"><span class="stl_267 stl_08 stl_308">(30)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:14.1952em;"><span class="stl_267 stl_08 stl_91" style="word-spacing:-0.0425em;">Prepayments received,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.0283em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0397em;">transition cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.4595em;top:15.0283em;"><span class="stl_267 stl_08 stl_181">(20)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.9639em;top:15.0283em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.0595em;top:15.0283em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9402em;top:15.0283em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5108em;top:15.0283em;"><span class="stl_267 stl_08 stl_142">(16)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:16.0383em;"><span class="stl_267 stl_08 stl_244" style="word-spacing:-0.0378em;">Deferred income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.452em;top:16.0383em;"><span class="stl_267 stl_08 stl_340">(67)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.2252em;top:16.0383em;"><span class="stl_267 stl_08 stl_242">(79)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.6952em;top:16.0383em;"><span class="stl_267 stl_08 stl_135">67  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4177em;top:16.0383em;"><span class="stl_267 stl_08 stl_116">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4458em;top:16.0383em;"><span class="stl_267 stl_08 stl_403">(27)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.8308em;top:18.114em;"><span class="stl_263 stl_08 stl_266">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.1333em;top:18.864em;"><span class="stl_263 stl_08 stl_387">recognized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.5552em;top:18.864em;"><span class="stl_263 stl_08 stl_266">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.9533em;top:19.614em;"><span class="stl_263 stl_08 stl_246">from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.8577em;top:19.614em;"><span class="stl_263 stl_08 stl_387">recognized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:50.8277em;top:20.364em;"><span class="stl_263 stl_08 stl_529">Opening  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.9714em;top:20.364em;"><span class="stl_263 stl_08 stl_201">opening  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.2427em;top:20.364em;"><span class="stl_263 stl_08 stl_73">regarding  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.2145em;top:20.364em;"><span class="stl_263 stl_08 stl_201">Closing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:21.114em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0533em;top:21.114em;"><span class="stl_263 stl_08 stl_492">balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.5458em;top:21.114em;"><span class="stl_263 stl_08 stl_320">Additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0852em;top:21.114em;"><span class="stl_263 stl_08 stl_492">balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.3345em;top:21.114em;"><span class="stl_263 stl_08 stl_236">additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.0614em;top:21.114em;"><span class="stl_263 stl_08 stl_492">balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:22.7777em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:24.0377em;"><span class="stl_267 stl_08 stl_91" style="word-spacing:-0.0425em;">Prepayments received,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:24.8709em;"><span class="stl_267 stl_08 stl_321" style="word-spacing:-0.0396em;">work in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.4583em;top:24.8709em;"><span class="stl_267 stl_08 stl_165">(55)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.257em;top:24.8709em;"><span class="stl_267 stl_08 stl_434">(69)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.702em;top:24.8709em;"><span class="stl_267 stl_08 stl_192">47  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.7839em;top:24.8709em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4839em;top:24.8709em;"><span class="stl_267 stl_08 stl_343">(74)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:25.8809em;"><span class="stl_267 stl_08 stl_91" style="word-spacing:-0.0425em;">Prepayments received,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:26.714em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0397em;">transition cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.5089em;top:26.714em;"><span class="stl_267 stl_08 stl_301">(15)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.617em;top:26.714em;"><span class="stl_267 stl_08 stl_462">(8)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.0595em;top:26.714em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9402em;top:26.714em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.467em;top:26.714em;"><span class="stl_267 stl_08 stl_181">(20)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:27.724em;"><span class="stl_267 stl_08 stl_244" style="word-spacing:-0.0378em;">Deferred income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.0277em;top:27.724em;"><span class="stl_267 stl_08 stl_19">0</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.2564em;top:27.724em;"><span class="stl_267 stl_08 stl_434">(69)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.2152em;top:27.724em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.7833em;top:27.724em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4595em;top:27.724em;"><span class="stl_267 stl_08 stl_340">(67)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:29.3352em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0394em;">Besides above balances we have also capitalized cost to fulfill a contract as transition cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:31.0021em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.035em;">Transition cost relates to capitalized cost incurred for preparatory projects in relation to transition or set-up  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:31.8352em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0418em;">activities required to enable delivery of the service. The cost will be amortized over the operation period which  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:32.6684em;"><span class="stl_202 stl_08 stl_17" style="word-spacing:-0.0438em;">generally is between 3-6 years.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:34.3352em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0394em;">As such the balance for transition cost vary depending on the number of new outsourcing contracts requiring a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:35.1684em;"><span class="stl_202 stl_08 stl_268" style="word-spacing:-0.0437em;">transition project or set-up activities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.0744em;top:6.9716em;"><span class="stl_263 stl_08 stl_132">Transferred  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.4094em;top:7.7216em;"><span class="stl_263 stl_08 stl_481">Amortized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9369em;top:7.7216em;"><span class="stl_263 stl_08 stl_251" style="word-spacing:-0.046em;">to assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.6869em;top:8.4716em;"><span class="stl_263 stl_08 stl_425" style="word-spacing:-0.0427em;">cost from</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.187em;top:8.4716em;"><span class="stl_263 stl_08 stl_481">Amortized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8075em;top:8.4716em;"><span class="stl_263 stl_08 stl_493">classified  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:10.4338em;top:9.2216em;"><span class="stl_263 stl_08 stl_529">Opening  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.105em;top:9.2216em;"><span class="stl_263 stl_08 stl_121" style="word-spacing:1.1651em;">opening cost</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.864em;top:9.2216em;"><span class="stl_263 stl_08 stl_253" style="word-spacing:0.8347em;">from Impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4688em;top:9.2216em;"><span class="stl_263 stl_08 stl_236" style="word-spacing:-0.0384em;">as held  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.2em;top:9.2216em;"><span class="stl_263 stl_08 stl_201">Closing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.9716em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:10.6594em;top:9.9716em;"><span class="stl_263 stl_08 stl_534" style="word-spacing:1.1825em;">balance Additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2188em;top:9.9716em;"><span class="stl_263 stl_08 stl_492">balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.5238em;top:9.9716em;"><span class="stl_263 stl_08 stl_236">additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.4119em;top:9.9716em;"><span class="stl_263 stl_08 stl_91">loss  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3738em;top:9.9716em;"><span class="stl_263 stl_08 stl_229" style="word-spacing:-0.0398em;">for sale  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0469em;top:9.9716em;"><span class="stl_263 stl_08 stl_492">balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:11.6354em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:12.6453em;"><span class="stl_267 stl_08 stl_183" style="word-spacing:-0.0273em;">Transition cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:12.3063em;top:12.6453em;"><span class="stl_267 stl_08 stl_818">17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.4157em;top:12.6453em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.9919em;top:12.6453em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.1313em;top:12.6453em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.3832em;top:12.6453em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.3988em;top:12.6453em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.685em;top:12.6453em;"><span class="stl_267 stl_08 stl_286">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.0744em;top:14.7212em;"><span class="stl_263 stl_08 stl_132">Transferred  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.4094em;top:15.4712em;"><span class="stl_263 stl_08 stl_481">Amortized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9369em;top:15.4712em;"><span class="stl_263 stl_08 stl_251" style="word-spacing:-0.046em;">to assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.6869em;top:16.2212em;"><span class="stl_263 stl_08 stl_425" style="word-spacing:-0.0427em;">cost from</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.187em;top:16.2212em;"><span class="stl_263 stl_08 stl_481">Amortized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8075em;top:16.2212em;"><span class="stl_263 stl_08 stl_493">classified  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:10.4338em;top:16.9712em;"><span class="stl_263 stl_08 stl_529">Opening  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.105em;top:16.9712em;"><span class="stl_263 stl_08 stl_121" style="word-spacing:1.1651em;">opening cost</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.864em;top:16.9712em;"><span class="stl_263 stl_08 stl_253" style="word-spacing:0.8347em;">from Impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4688em;top:16.9712em;"><span class="stl_263 stl_08 stl_236" style="word-spacing:-0.0384em;">as held  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.2em;top:16.9712em;"><span class="stl_263 stl_08 stl_201">Closing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.7212em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:10.6594em;top:17.7212em;"><span class="stl_263 stl_08 stl_534" style="word-spacing:1.1825em;">balance Additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2188em;top:17.7212em;"><span class="stl_263 stl_08 stl_492">balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.5238em;top:17.7212em;"><span class="stl_263 stl_08 stl_236">additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.4119em;top:17.7212em;"><span class="stl_263 stl_08 stl_91">loss  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3738em;top:17.7212em;"><span class="stl_263 stl_08 stl_229" style="word-spacing:-0.0398em;">for sale  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0469em;top:17.7212em;"><span class="stl_263 stl_08 stl_492">balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:19.385em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:20.395em;"><span class="stl_267 stl_08 stl_183" style="word-spacing:-0.0273em;">Transition cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:12.6363em;top:20.395em;"><span class="stl_267 stl_08 stl_19">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.0863em;top:20.395em;"><span class="stl_267 stl_08 stl_818">13  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.9969em;top:20.395em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.7713em;top:20.395em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.3825em;top:20.395em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.3982em;top:20.395em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6919em;top:20.395em;"><span class="stl_267 stl_08 stl_818">17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:22.0062em;"><span class="stl_202 stl_08 stl_227" style="word-spacing:-0.032em;">Transition cost for the continuing operations are recognized in the balance sheet as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.5542em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:23.5542em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:23.5542em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.2179em;"><span class="stl_267 stl_08 stl_121" style="word-spacing:-0.0384em;">Transition cost, non-current  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9669em;top:25.2179em;"><span class="stl_267 stl_08 stl_818">13  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6838em;top:25.2179em;"><span class="stl_267 stl_08 stl_286">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.2279em;"><span class="stl_267 stl_08 stl_492" style="word-spacing:-0.0333em;">Transition cost, current  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:26.2279em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:26.2279em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.2379em;"><span class="stl_264 stl_08 stl_422" style="word-spacing:-0.0261em;">Total transition cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9388em;top:27.2379em;"><span class="stl_274 stl_08 stl_468">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.67em;top:27.2379em;"><span class="stl_274 stl_08 stl_360">17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.8492em;"><span class="stl_264 stl_08 stl_423" style="word-spacing:-0.0306em;">Future contract obligations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.6823em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0408em;">Below table shows performance obligations resulting from contracts which will be satisfied in the future:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.2302em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:31.2302em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:31.2302em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.9314em;"><span class="stl_267 stl_08 stl_305" style="word-spacing:-0.043em;">Aggregated amount of transaction price allocated to contracts that will  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.7646em;"><span class="stl_267 stl_08 stl_425" style="word-spacing:-0.0427em;">be satisfied in the future as at December 31  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.0438em;top:33.7646em;"><span class="stl_267 stl_08 stl_51">1,266  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7688em;top:33.7646em;"><span class="stl_267 stl_08 stl_182">1,257  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:35.3758em;"><span class="stl_202 stl_08 stl_190" style="word-spacing:-0.0383em;">2023 balances reflects continuing operations.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:37.0427em;"><span class="stl_202 stl_08 stl_108" style="word-spacing:-0.039em;">Management expects that DKK 832 million of the transaction price allocated to the future contract obligations as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:37.8758em;"><span class="stl_202 stl_08 stl_81" style="word-spacing:-0.028em;">of December 31, 2024 will be recognized during 2025. The remaining part will be recognized as revenue within 2-3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:38.7089em;"><span class="stl_202 stl_08 stl_419" style="word-spacing:-0.0386em;">years. The amount disclosed above includes both fixed and variable consideration.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_212" style="word-spacing:0.1409em;">1.2 Summary</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:9.996em;top:5.658em;"><span class="stl_527 stl_08 stl_38" style="word-spacing:-0.0181em;">of key accounting estimates and judgements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0416em;">The preparation of financial statements under IFRS  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.9306em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">requires the use of certain key accounting esti-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.7637em;"><span class="stl_202 stl_08 stl_72">mates.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.4306em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0398em;">Determination of the carrying amount of some  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.2637em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.0331em;">assets and liabilities requires Management to make  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.0968em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.039em;">judgements, estimates and assumptions about  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.9299em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0394em;">future circumstances.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.5968em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">Estimates and assumptions are based on historical  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.4299em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.037em;">experience and other factors and are regarded by  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.2631em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">Management as reasonable in the circumstances  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.0962em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.039em;">but are inherently uncertain and unpredictable and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.9293em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">therefore the actual outcome may differ from these  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.7624em;"><span class="stl_202 stl_08 stl_91">estimates.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.4293em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0353em;">Management considers judgements and estimates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.2624em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0382em;">under the following items as significant to these  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.0956em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0396em;">consolidated financial statements:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.7624em;"><span class="stl_264 stl_08 stl_253">Estimates:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.5956em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:24.5956em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.034em;">Impairment test, goodwill (note 3.2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.4287em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:25.4287em;"><span class="stl_202 stl_08 stl_132" style="word-spacing:-0.0274em;">Other intangible assets (note 3.1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.2618em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:26.2618em;"><span class="stl_202 stl_08 stl_269" style="word-spacing:-0.0319em;">Contract balances (note 3.4)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.9287em;"><span class="stl_264 stl_08 stl_529">Judgements:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.7618em;"><span class="stl_267 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:28.7618em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0347em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.4287em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0352em;">Impairment test  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.2618em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0412em;">For the goodwill impairment test, a number of esti-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.0949em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0343em;">mates are made on the development in revenues,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.9281em;"><span class="stl_202 stl_08 stl_250" style="word-spacing:-0.0429em;">gross profits, operating margins, future capital  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.7612em;z-index:920;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">expenditures, discount rates and growth expe</span><span class="stl_202 stl_08 stl_830">c</span><span class="stl_202 stl_08 stl_830">-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.5943em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0389em;">tations in the terminal period. These estimates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:35.4274em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0384em;">are based on assessments of the current and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.2606em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0349em;">future development in the CGU's and are based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:37.0937em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0407em;">historical data and assumptions of future expected  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:37.9268em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0399em;">market developments, including expected long-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.0937em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0356em;">term average market growth rates. Determining the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.9268em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0413em;">expectations and assumptions requires significant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:8.7599em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0361em;">Management judgement. The estimated value in use  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.593em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0367em;">can be highly sensitive to the measurement of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.4262em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0434em;">expectations and assumptions.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.0931em;"><span class="stl_264 stl_08 stl_253" style="word-spacing:-0.0386em;">Other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.9262em;"><span class="stl_202 stl_08 stl_268" style="word-spacing:-0.044em;">IT development projects include NNIT's ERP system  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:13.7593em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">which is used in the daily operations of the group,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.5924em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0385em;">other internal IT-systems and developed applica-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.4256em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0427em;">tions for customer services.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.0924em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0406em;">Initial capitalisation of costs is based on manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.9256em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0373em;">ment’s judgement that technological and economic  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:18.7587em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">feasibility is confirmed. In determining the amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.5918em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0377em;">to be capitalised for appliations developed for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.4249em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0378em;">customer services Management makes assumptions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.2581em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">regarding the expected future cash generation of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:22.0912em;"><span class="stl_202 stl_08 stl_493" style="word-spacing:-0.0456em;">the project.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.7581em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0347em;">The determination of the value in use of the CGU's  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:24.5912em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0403em;">to which Other intangible assets is allocated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.4243em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">is covered by the same impairment test that is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.2574em;"><span class="stl_202 stl_08 stl_309" style="word-spacing:-0.0436em;">performed for Goodwill.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.9243em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0335em;">Work in Progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:28.7574em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0338em;">The determination of the percentage of completion  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.5906em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0374em;">of work in progress related to fixed price projects is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:30.4237em;"><span class="stl_202 stl_08 stl_235" style="word-spacing:-0.0415em;">based on estimates of future costs, hours and mate-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.2568em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">rials. Each project is unique in their design. Manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.0899em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0398em;">ment makes judgements on individual assessments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.9231em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">of specific projects and their associated risk from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:33.7562em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.041em;">the on-going monitoring, to identify any deviations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:34.5893em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0396em;">from estimates.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:36.2562em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">Adjustments to cost estimates may be made peri-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:37.0893em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0347em;">odically following Management review, which may  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:37.9224em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0345em;">result in a re-assessment of the percentage of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:7.058em;"><span class="stl_202 stl_08 stl_269" style="word-spacing:-0.0317em;">completion as of the date of review. Such changes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:7.8912em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">result in revisions to revenue attributable to work  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:8.7243em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0424em;">performed up until the date of revision. The effect of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:9.5574em;"><span class="stl_202 stl_08 stl_186" style="word-spacing:-0.0317em;">such changes in estimates is recognized as a change  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:10.3905em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0344em;">to revenue in the period in which the revisions are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.2237em;"><span class="stl_202 stl_08 stl_531">determined  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.8905em;"><span class="stl_264 stl_08 stl_231" style="word-spacing:-0.0372em;">Special Items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.7237em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0397em;">Identifying and separating special income and cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.5568em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">items from other items in the income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.3899em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">involves judgement from Management. These items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.223em;"><span class="stl_202 stl_08 stl_73" style="word-spacing:-0.0326em;">are carefully considered in order to ensure correct  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:17.0562em;"><span class="stl_202 stl_08 stl_121">presentation.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:18.723em;"><span class="stl_264 stl_08 stl_581" style="word-spacing:-0.0419em;">Climate-related risks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:19.5562em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.0332em;">Group Management has considered the impact of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.3893em;"><span class="stl_202 stl_08 stl_73" style="word-spacing:-0.0326em;">climate related change on the consolidated financial  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:21.2224em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0418em;">statements. the review did not identify any material  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:22.0555em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">financial impacts and the Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:22.8887em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0423em;">has assessed that the effects of climate change  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:23.7218em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0408em;">do not have significant influence on the estimates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:24.5549em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0389em;">or judgements in the consolidated financial state-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:25.388em;"><span class="stl_202 stl_08 stl_333">ments.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.0931em;"><span class="stl_264 stl_08 stl_253" style="word-spacing:-0.0386em;">Other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.9262em;"><span class="stl_202 stl_08 stl_268" style="word-spacing:-0.044em;">IT development projects include NNIT's ERP system  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:13.7593em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">which is used in the daily operations of the group,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.5924em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0385em;">other internal IT-systems and developed applica-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.4256em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0427em;">tions for customer services.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.0924em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0406em;">Initial capitalisation of costs is based on manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.9256em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0373em;">ment’s judgement that technological and economic  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:18.7587em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">feasibility is confirmed. In determining the amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.5918em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0377em;">to be capitalised for appliations developed for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.4249em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0378em;">customer services Management makes assumptions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.2581em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">regarding the expected future cash generation of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:22.0912em;"><span class="stl_202 stl_08 stl_493" style="word-spacing:-0.0456em;">the project.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.7581em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0347em;">The determination of the value in use of the CGU's  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:24.5912em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0403em;">to which Other intangible assets is allocated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.4243em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">is covered by the same impairment test that is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.2574em;"><span class="stl_202 stl_08 stl_309" style="word-spacing:-0.0436em;">performed for Goodwill.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:29.4674em;"><span class="stl_264 stl_08 stl_320" style="word-spacing:-0.0385em;">Intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:30.3005em;"><span class="stl_610 stl_08 stl_270">Goodwill  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:31.1336em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">Goodwill arising from business combinations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:31.9667em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0334em;">is recognized and measured as the difference  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:32.7999em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0376em;">between the total of the fair value of the considera-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:33.633em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">tion transferred compared to the fair value of identi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:34.4661em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0397em;">fiable net assets on the date of acquisition.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:36.133em;"><span class="stl_202 stl_08 stl_17" style="word-spacing:-0.0439em;">Goodwill is not amortized, but the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:36.9661em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0358em;">is tested at relevant cash generating unit level  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:37.7992em;z-index:4853;"><span class="stl_202 stl_08 stl_151" style="word-spacing:-0.0266em;">(CGU-level) for impairment once a year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">Goodwill is written down to its recoverable amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">through the income statement if lower than the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6378em;"><span class="stl_202 stl_08 stl_399" style="word-spacing:-0.0495em;">carrying amount.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3047em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">The recoverable amount is determined as the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1379em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">present value of the discounted future net cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.971em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">flow from the activities goodwill relates to. In calcu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.8041em;"><span class="stl_202 stl_08 stl_535" style="word-spacing:-0.0328em;">lating the present value, discount rates are applied  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6372em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.043em;">reflecting the riskfree interest rate with the addition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4703em;"><span class="stl_202 stl_08 stl_386" style="word-spacing:-0.0326em;">of risks relating to the individual CGU.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1372em;"><span class="stl_610 stl_08 stl_259" style="word-spacing:-0.0437em;">IT development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.9703em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0427em;">IT development projects are clearly specified and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8035em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0402em;">identifiable projects under development for internal  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6366em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">and external use for which the technical feasibility  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4697em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0366em;">of completing the development project has been  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3028em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">demonstrated and resources are available within  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_202 stl_08 stl_190">NNIT.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8028em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">Any development projects that do not meet the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.636em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">criteria for capitalization in the balance sheet are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4691em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">recognized as costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.136em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">Development costs meeting the criteria for capital-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.9691em;"><span class="stl_202 stl_08 stl_227" style="word-spacing:-0.0322em;">iztion are measured at cost less accumulated amor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.8022em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0392em;">tization and any impairment losses. Development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.6353em;"><span class="stl_202 stl_08 stl_658" style="word-spacing:-0.0453em;">costs include external expenses, salaries, amortiza-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.4685em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">tion and depreciation that can be directly attributed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3016em;"><span class="stl_202 stl_08 stl_308" style="word-spacing:-0.0447em;">to NNIT development activities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.9685em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">Development costs recognized in the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8016em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">are amortized from completion of the development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.6347em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0378em;">using the straight-line method, over the period the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.4678em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">asset is expected to generate economic benefits.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.1347em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.041em;">Straight-line amortization over the expected useful  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.9678em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0407em;">life of the asset:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:38.0372em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:38.0372em;"><span class="stl_202 stl_08 stl_34" style="word-spacing:-0.0322em;">IT projects: 5-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:6.9678em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">Intangible assets that are in use and subject to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.801em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">amortization are tested for impairment whenever  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:8.6341em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.042em;">events or changes in circumstances indicate that the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.4672em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">carrying amount may not be recoverable. Factors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.3004em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">that could trigger an impairment test include  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.1335em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">changes in the economic lifes of similar assets or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.9666em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">the relationship with other intangible assets or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.7997em;"><span class="stl_202 stl_08 stl_514" style="word-spacing:-0.0465em;">tangible assets.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.4666em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">Intangible assets under construction are tested for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.2997em;z-index:1606;"><span class="stl_202 stl_08 stl_174" style="word-spacing:-0.0235em;">impairment once a year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.9666em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0418em;">If the carrying amount of intangible assets exceeds  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.7997em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0365em;">the recoverable amount based upon the above indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:18.6328em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.038em;">cators of impairment, any impairment loss is meas-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.466em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">ured based on discounted future cash flows.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:26.961em;"><span class="stl_264 stl_08 stl_243" style="word-spacing:-0.0397em;">Cloud-based arrangements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:27.7941em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.0429em;">Software within a cloud-based arrangement is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:28.6272em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0385em;">recognised as an intangible asset.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:30.2941em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0378em;">Costs incurred to configure or customise, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:31.1272em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.033em;">the ongoing fees to obtain access to the cloud  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:31.9603em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0398em;">provider's application software, are recognised  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:32.7935em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">as expenses when the services are received. Also  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:33.6266em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">internal costs such as cost related to selection of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:34.4597em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.033em;">cloud provider, data conversion, training and testing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:35.2928em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">are expensed.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:36.9597em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0399em;">Configuration and customisation activities under-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:37.7928em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0374em;">taken in implementation of cloud based arrange-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:6.9597em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">ments may give rise to a separate asset related to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:7.7928em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">the development of software code that enhances,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:8.626em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0384em;">modifies or creates additional capabilities to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:9.4591em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0423em;">groups application. Costs incurred for these activi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:10.2922em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.039em;">ties are recognised as intangible assets if they meet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:11.1253em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0396em;">the recognition criteria and amortised over the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:11.9585em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">usefull life of the software.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3825em;"><span class="stl_527 stl_08 stl_198" style="word-spacing:0.2292em;">3.1 Intangible</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:10.221em;top:10.3825em;"><span class="stl_527 stl_08 stl_424">assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6182em;top:11.7029em;"><span class="stl_263 stl_08 stl_239">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.5075em;top:11.7029em;"><span class="stl_263 stl_08 stl_734">IT  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.0407em;top:11.7029em;"><span class="stl_263 stl_08 stl_246" style="word-spacing:-0.0396em;">IT development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3763em;top:12.4529em;"><span class="stl_263 stl_08 stl_256">intangible  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.0732em;top:12.4529em;"><span class="stl_263 stl_08 stl_236">development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.2982em;top:12.4529em;"><span class="stl_263 stl_08 stl_494" style="word-spacing:-0.0445em;">projects under  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.2029em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.0557em;top:13.2029em;"><span class="stl_263 stl_08 stl_268">Goodwill  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.4832em;top:13.2029em;"><span class="stl_263 stl_08 stl_218">assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.5932em;top:13.2029em;"><span class="stl_263 stl_08 stl_491">projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.8938em;top:13.2029em;"><span class="stl_263 stl_08 stl_303">construction  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.8888em;top:13.2029em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7232em;top:14.8667em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7232em;top:16.1267em;"><span class="stl_267 stl_08 stl_200" style="word-spacing:-0.0394em;">Costs at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5982em;top:16.1267em;"><span class="stl_267 stl_08 stl_734">686  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6532em;top:16.1267em;"><span class="stl_267 stl_08 stl_58">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6888em;top:16.1267em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0263em;top:16.1267em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2975em;top:16.1267em;"><span class="stl_267 stl_08 stl_288">7</span><span class="stl_267 stl_08 stl_287">4</span><span class="stl_267 stl_08 stl_287">4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7232em;top:17.1367em;"><span class="stl_267 stl_08 stl_320">Additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5063em;top:17.1367em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1757em;top:17.1367em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.845em;top:17.1367em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0225em;top:17.1367em;"><span class="stl_267 stl_08 stl_45">51  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6919em;top:17.1367em;"><span class="stl_267 stl_08 stl_45">51  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7232em;top:18.1467em;"><span class="stl_267 stl_08 stl_121">Disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5063em;top:18.1467em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4507em;top:18.1467em;"><span class="stl_267 stl_08 stl_181">(20)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.4857em;top:18.1467em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5144em;top:18.1467em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.45em;top:18.1467em;"><span class="stl_267 stl_08 stl_255">(23)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7232em;top:19.1567em;"><span class="stl_267 stl_08 stl_31">Transfer  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5063em;top:19.1567em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1757em;top:19.1567em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3132em;top:19.1567em;"><span class="stl_267 stl_08 stl_506">58  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.785em;top:19.1567em;"><span class="stl_267 stl_08 stl_215">(58)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.1838em;top:19.1567em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:20.1667em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0382em;">Exchange rate adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.0188em;top:20.1667em;"><span class="stl_267 stl_08 stl_816">19  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.02em;top:20.1667em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8457em;top:20.1667em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.3588em;top:20.1667em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6719em;top:20.1667em;"><span class="stl_267 stl_08 stl_721">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:21.1767em;"><span class="stl_264 stl_08 stl_492" style="word-spacing:-0.0338em;">Cost at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5969em;top:21.1767em;"><span class="stl_274 stl_08 stl_544">705  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6638em;top:21.1767em;"><span class="stl_274 stl_08 stl_192">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3394em;top:21.1767em;"><span class="stl_274 stl_08 stl_452">61  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.3588em;top:21.1767em;"><span class="stl_274 stl_08 stl_19">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2775em;top:21.1767em;"><span class="stl_274 stl_08 stl_582">793  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:22.7817em;"><span class="stl_267 stl_08 stl_230" style="word-spacing:-0.0407em;">Amortization and impairment loss at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5069em;top:22.7817em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6538em;top:22.7817em;"><span class="stl_267 stl_08 stl_58">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6894em;top:22.7817em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.515em;top:22.7817em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6432em;top:22.7817em;"><span class="stl_267 stl_08 stl_851">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:23.7917em;"><span class="stl_267 stl_08 stl_90">Amortization  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5069em;top:23.7917em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1763em;top:23.7917em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6894em;top:23.7917em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.515em;top:23.7917em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.0282em;top:23.7917em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.8017em;"><span class="stl_267 stl_08 stl_270" style="word-spacing:-0.0442em;">Amortizations reversed on disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5075em;top:24.8017em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4519em;top:24.8017em;"><span class="stl_267 stl_08 stl_181">(20)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.5357em;top:24.8017em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5157em;top:24.8017em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.4975em;top:24.8017em;"><span class="stl_267 stl_08 stl_798">(21)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:25.8117em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0382em;">Exchange rate adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5082em;top:25.8117em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0213em;top:25.8117em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8469em;top:25.8117em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5163em;top:25.8117em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.0294em;top:25.8117em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:26.8217em;"><span class="stl_264 stl_08 stl_245" style="word-spacing:-0.0354em;">Amortization and impairment losses at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5088em;top:26.8217em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6657em;top:26.8217em;"><span class="stl_274 stl_08 stl_192">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6919em;top:26.8217em;"><span class="stl_274 stl_08 stl_19">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5169em;top:26.8217em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6532em;top:26.8217em;"><span class="stl_274 stl_08 stl_289">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:28.4267em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.0349em;">Carrying amount at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5988em;top:28.4267em;"><span class="stl_274 stl_08 stl_544">705  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1782em;top:28.4267em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3138em;top:28.4267em;"><span class="stl_274 stl_08 stl_307">53  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.3613em;top:28.4267em;"><span class="stl_274 stl_08 stl_19">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2919em;top:28.4267em;"><span class="stl_274 stl_08 stl_256">767  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:30.0317em;"><span class="stl_267 stl_08 stl_484" style="word-spacing:-0.0483em;">Amortization period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.6719em;top:30.0317em;"><span class="stl_267 stl_08 stl_369" style="word-spacing:-0.0333em;">2-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.0063em;top:30.0317em;"><span class="stl_267 stl_08 stl_38" style="word-spacing:-0.0182em;">3-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:31.6429em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.04em;">IT development projects includes NNIT's ERP system which is used as the basis for the Group's day-to-day operations and internal IT-systems  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.1988em;top:32.4761em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0408em;">and developed applications for customer services.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:33.3092em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0416em;">IT development projects under construction consists of both internal IT-systems and developed applications for customer services.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6182em;top:6.9785em;"><span class="stl_263 stl_08 stl_239">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.5075em;top:6.9785em;"><span class="stl_263 stl_08 stl_734">IT  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.0407em;top:6.9785em;"><span class="stl_263 stl_08 stl_246" style="word-spacing:-0.0396em;">IT development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3763em;top:7.7285em;"><span class="stl_263 stl_08 stl_256">intangible  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.0732em;top:7.7285em;"><span class="stl_263 stl_08 stl_236">development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.2982em;top:7.7285em;"><span class="stl_263 stl_08 stl_494" style="word-spacing:-0.0445em;">projects under  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.4785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.0557em;top:8.4785em;"><span class="stl_263 stl_08 stl_268">Goodwill  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.4832em;top:8.4785em;"><span class="stl_263 stl_08 stl_218">assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.5932em;top:8.4785em;"><span class="stl_263 stl_08 stl_491">projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.8938em;top:8.4785em;"><span class="stl_263 stl_08 stl_303">construction  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.8919em;top:8.4785em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7225em;top:10.1423em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7225em;top:11.4023em;"><span class="stl_267 stl_08 stl_200" style="word-spacing:-0.0394em;">Costs at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.61em;top:11.4023em;"><span class="stl_267 stl_08 stl_247">696  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6525em;top:11.4023em;"><span class="stl_267 stl_08 stl_58">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3244em;top:11.4023em;"><span class="stl_267 stl_08 stl_149">67  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.3575em;top:11.4023em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2857em;top:11.4023em;"><span class="stl_267 stl_08 stl_532">802  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7225em;top:12.4123em;"><span class="stl_267 stl_08 stl_320">Additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5057em;top:12.4123em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.175em;top:12.4123em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6882em;top:12.4123em;"><span class="stl_267 stl_08 stl_19">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0257em;top:12.4123em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6619em;top:12.4123em;"><span class="stl_267 stl_08 stl_112">24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7225em;top:13.4223em;"><span class="stl_267 stl_08 stl_340">Disposals</span><sup style="top: -0.2087em;"><span class="stl_281 stl_08 stl_855">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5076em;top:13.4217em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:13.4217em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.1019em;top:13.4217em;"><span class="stl_267 stl_08 stl_523">(72)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5157em;top:13.4217em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.4407em;top:13.4217em;"><span class="stl_267 stl_08 stl_523">(72)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4317em;"><span class="stl_267 stl_08 stl_31">Transfer  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5076em;top:14.4317em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:14.4317em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.69em;top:14.4317em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.1607em;top:14.4317em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.1844em;top:14.4317em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.4417em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0381em;">Exchange rate adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8282em;top:15.4417em;"><span class="stl_267 stl_08 stl_570">(10)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:15.4417em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8463em;top:15.4417em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5157em;top:15.4417em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.5057em;top:15.4417em;"><span class="stl_267 stl_08 stl_570">(10)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:16.4517em;"><span class="stl_264 stl_08 stl_492" style="word-spacing:-0.0338em;">Cost at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5857em;top:16.4517em;"><span class="stl_274 stl_08 stl_459">686  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6425em;top:16.4517em;"><span class="stl_274 stl_08 stl_353">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6913em;top:16.4517em;"><span class="stl_274 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0051em;top:16.4517em;"><span class="stl_274 stl_08 stl_379">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2888em;top:16.4517em;"><span class="stl_274 stl_08 stl_305">744  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7251em;top:18.0567em;"><span class="stl_267 stl_08 stl_230" style="word-spacing:-0.0407em;">Amortization and impairment loss at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5082em;top:18.0567em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6551em;top:18.0567em;"><span class="stl_267 stl_08 stl_58">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3326em;top:18.0567em;"><span class="stl_267 stl_08 stl_421">59  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5163em;top:18.0567em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6532em;top:18.0567em;"><span class="stl_267 stl_08 stl_734">96  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:19.0667em;"><span class="stl_267 stl_08 stl_90">Amortization  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5088em;top:19.0667em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1782em;top:19.0667em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8476em;top:19.0667em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5169em;top:19.0667em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.1863em;top:19.0667em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:20.0767em;"><span class="stl_267 stl_08 stl_270" style="word-spacing:-0.0442em;">Amortizations reversed on disposals</span><sup style="top: -0.2096em;"><span class="stl_281 stl_08 stl_595" style="word-spacing:-0.0758em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5076em;top:20.0752em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:20.0752em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.1107em;top:20.0752em;"><span class="stl_267 stl_08 stl_228">(56)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5151em;top:20.0752em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.4488em;top:20.0752em;"><span class="stl_267 stl_08 stl_228">(56)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:21.0852em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0381em;">Exchange rate adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5069em;top:21.0852em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1763em;top:21.0852em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8457em;top:21.0852em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5151em;top:21.0852em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.1844em;top:21.0852em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:22.0952em;"><span class="stl_264 stl_08 stl_245" style="word-spacing:-0.0354em;">Amortization and impairment losses at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5069em;top:22.0952em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6413em;top:22.0952em;"><span class="stl_274 stl_08 stl_353">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6901em;top:22.0952em;"><span class="stl_274 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5151em;top:22.0952em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6401em;top:22.0952em;"><span class="stl_274 stl_08 stl_748">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:23.7002em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.0349em;">Carrying amount at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5844em;top:23.7002em;"><span class="stl_274 stl_08 stl_459">686  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1763em;top:23.7002em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6901em;top:23.7002em;"><span class="stl_274 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0038em;top:23.7002em;"><span class="stl_274 stl_08 stl_379">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2676em;top:23.7002em;"><span class="stl_274 stl_08 stl_292">704  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:25.3052em;"><span class="stl_267 stl_08 stl_484" style="word-spacing:-0.0483em;">Amortization period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.6694em;top:25.3052em;"><span class="stl_267 stl_08 stl_369" style="word-spacing:-0.0333em;">2-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.0038em;top:25.3052em;"><span class="stl_267 stl_08 stl_38" style="word-spacing:-0.0182em;">3-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.7996em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_332" style="word-spacing:-0.0474em;">ꢀWhereof DKK 26 Million relates to discontinued operations.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.3829em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_421">2</span></sup><span class="stl_350 stl_08 stl_356" style="word-spacing:-0.0471em;">- Whereof DKK 10 Million relates to discontinued operations.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.7913em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.04em;">IT development projects includes NNIT's ERP system which is used as the basis for the Group's day-to-day operations and internal IT-systems  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.6244em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0408em;">and developed applications for customer services.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.2913em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0416em;">IT development projects under construction consists of both internal IT-systems and developed applications for customer services.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.4287em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0352em;">Impairment test  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.2618em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0412em;">For the goodwill impairment test, a number of esti-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.0949em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0343em;">mates are made on the development in revenues,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.9281em;"><span class="stl_202 stl_08 stl_250" style="word-spacing:-0.0429em;">gross profits, operating margins, future capital  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.7612em;z-index:920;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">expenditures, discount rates and growth expe</span><span class="stl_202 stl_08 stl_830">c</span><span class="stl_202 stl_08 stl_830">-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.5943em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0389em;">tations in the terminal period. These estimates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:35.4274em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0384em;">are based on assessments of the current and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.2606em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0349em;">future development in the CGU's and are based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:37.0937em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0407em;">historical data and assumptions of future expected  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:37.9268em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0399em;">market developments, including expected long-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.0937em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0356em;">term average market growth rates. Determining the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.9268em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0413em;">expectations and assumptions requires significant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:8.7599em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0361em;">Management judgement. The estimated value in use  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.593em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0367em;">can be highly sensitive to the measurement of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.4262em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0434em;">expectations and assumptions.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:29.4674em;"><span class="stl_264 stl_08 stl_320" style="word-spacing:-0.0385em;">Intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:30.3005em;"><span class="stl_610 stl_08 stl_270">Goodwill  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:31.1336em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">Goodwill arising from business combinations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:31.9667em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0334em;">is recognized and measured as the difference  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:32.7999em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0376em;">between the total of the fair value of the considera-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:33.633em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">tion transferred compared to the fair value of identi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:34.4661em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0397em;">fiable net assets on the date of acquisition.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:36.133em;"><span class="stl_202 stl_08 stl_17" style="word-spacing:-0.0439em;">Goodwill is not amortized, but the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:36.9661em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0358em;">is tested at relevant cash generating unit level  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:37.7992em;z-index:4853;"><span class="stl_202 stl_08 stl_151" style="word-spacing:-0.0266em;">(CGU-level) for impairment once a year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">Goodwill is written down to its recoverable amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">through the income statement if lower than the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6378em;"><span class="stl_202 stl_08 stl_399" style="word-spacing:-0.0495em;">carrying amount.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3047em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">The recoverable amount is determined as the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1379em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">present value of the discounted future net cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.971em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">flow from the activities goodwill relates to. In calcu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.8041em;"><span class="stl_202 stl_08 stl_535" style="word-spacing:-0.0328em;">lating the present value, discount rates are applied  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6372em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.043em;">reflecting the riskfree interest rate with the addition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4703em;"><span class="stl_202 stl_08 stl_386" style="word-spacing:-0.0326em;">of risks relating to the individual CGU.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1372em;"><span class="stl_610 stl_08 stl_259" style="word-spacing:-0.0437em;">IT development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.9703em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0427em;">IT development projects are clearly specified and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8035em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0402em;">identifiable projects under development for internal  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6366em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">and external use for which the technical feasibility  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4697em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0366em;">of completing the development project has been  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3028em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">demonstrated and resources are available within  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_202 stl_08 stl_190">NNIT.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8028em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">Any development projects that do not meet the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.636em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">criteria for capitalization in the balance sheet are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4691em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">recognized as costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.136em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">Development costs meeting the criteria for capital-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.9691em;"><span class="stl_202 stl_08 stl_227" style="word-spacing:-0.0322em;">iztion are measured at cost less accumulated amor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.8022em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0392em;">tization and any impairment losses. Development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.6353em;"><span class="stl_202 stl_08 stl_658" style="word-spacing:-0.0453em;">costs include external expenses, salaries, amortiza-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.4685em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">tion and depreciation that can be directly attributed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3016em;"><span class="stl_202 stl_08 stl_308" style="word-spacing:-0.0447em;">to NNIT development activities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.9685em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">Development costs recognized in the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8016em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">are amortized from completion of the development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.6347em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0378em;">using the straight-line method, over the period the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.4678em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">asset is expected to generate economic benefits.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.1347em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.041em;">Straight-line amortization over the expected useful  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.9678em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0407em;">life of the asset:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:38.0372em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:38.0372em;"><span class="stl_202 stl_08 stl_34" style="word-spacing:-0.0322em;">IT projects: 5-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:6.9678em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">Intangible assets that are in use and subject to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.801em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">amortization are tested for impairment whenever  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:8.6341em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.042em;">events or changes in circumstances indicate that the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.4672em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">carrying amount may not be recoverable. Factors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.3004em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">that could trigger an impairment test include  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.1335em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">changes in the economic lifes of similar assets or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.9666em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">the relationship with other intangible assets or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.7997em;"><span class="stl_202 stl_08 stl_514" style="word-spacing:-0.0465em;">tangible assets.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.4666em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">Intangible assets under construction are tested for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.2997em;z-index:1606;"><span class="stl_202 stl_08 stl_174" style="word-spacing:-0.0235em;">impairment once a year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.9666em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0418em;">If the carrying amount of intangible assets exceeds  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.7997em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0365em;">the recoverable amount based upon the above indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:18.6328em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.038em;">cators of impairment, any impairment loss is meas-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.466em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">ured based on discounted future cash flows.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.1328em;"><span class="stl_264 stl_08 stl_212" style="word-spacing:-0.0282em;">Tangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.966em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">Tangible fixed assets are measured at cost less  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:22.7991em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">accumulated depreciation and any impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.6322em;"><span class="stl_202 stl_08 stl_270">losses.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.2991em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.037em;">Cost price includes the purchase price and costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.1322em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0368em;">relating directly to the purchase. Subsequent costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.9654em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0398em;">are either included in the carrying amount of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.7985em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0364em;">asset or recognized as a separate asset, where  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:28.6316em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0382em;">there are likely future economic benefits for the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.4647em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">Group and the value of the asset can be reliably  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:30.2978em;"><span class="stl_202 stl_08 stl_186">measured.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.9647em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0397em;">The depreciable amount of the assets is depreciated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.7978em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">on a straight-line basis over the following estimated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:33.631em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">useful life periods:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:34.7003em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.4413em;top:34.7003em;"><span class="stl_202 stl_08 stl_68" style="word-spacing:-0.029em;">Other equipment: 3-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.7697em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.4413em;top:35.7697em;"><span class="stl_202 stl_08 stl_165" style="word-spacing:-0.0298em;">Leasehold improvements: 5-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:6.9641em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0394em;">Asset residual values and useful life's are assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:7.7972em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0334em;">and, where required, adjusted on each balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:8.6303em;"><span class="stl_202 stl_08 stl_275" style="word-spacing:-0.0299em;">sheet date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:10.2972em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0337em;">Tangible assets are tested for impairment if  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.1303em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">there are indications of impairment. The carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.9635em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">amount of an asset is written down to its recover-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.7966em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">able amount if the carrying amount exceeds the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.6297em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0364em;">estimated recoverable amount. The recoverable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.4628em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">amount for the asset is determined as the higher  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.296em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0378em;">of fair value less costs to sell and net present value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.1291em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.039em;">of future net cash flows from continued use. If the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.9622em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0372em;">recoverable amount of an individual asset cannot  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:17.7953em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">be determined, value in use is determined for the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:18.6285em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0386em;">smallest group of assets for which it is possible to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:19.4616em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0432em;">determine a recoverable amount. Impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.2947em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">are recognized in the income statement under the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:21.1278em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0389em;">relevant functional areas.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:22.7947em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">Depreciation and gains or losses from disposal of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:23.6278em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">tangible assets are recognized in the income state-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:24.461em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">ment under cost of goods sold, sale and marketing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:25.2941em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0433em;">costs and administrative expenses respectively.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.0111em;"><span class="stl_527 stl_08 stl_113" style="word-spacing:-0.0002em;">2.4 Amortization, depreciation and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.3315em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:17.3315em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:17.3315em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.9953em;"><span class="stl_267 stl_08 stl_90">Amortization  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:18.9953em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:18.9953em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.0053em;"><span class="stl_267 stl_08 stl_236">Depreciation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9125em;top:20.0053em;"><span class="stl_267 stl_08 stl_460">46  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6482em;top:20.0053em;"><span class="stl_267 stl_08 stl_351">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.0153em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0329em;">Total amortization, depreciation, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9238em;top:21.0153em;"><span class="stl_274 stl_08 stl_520">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.64em;top:21.0153em;"><span class="stl_274 stl_08 stl_707">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.0253em;"><span class="stl_267 stl_08 stl_321" style="word-spacing:-0.0394em;">Total amortization, depreciation, and impairment losses,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8584em;"><span class="stl_267 stl_08 stl_203" style="word-spacing:-0.0371em;">discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:22.8584em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:22.8584em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.8684em;"><span class="stl_264 stl_08 stl_387" style="word-spacing:-0.0335em;">Total amortization, depreciation, and impairment losses,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.7015em;"><span class="stl_264 stl_08 stl_424" style="word-spacing:-0.0309em;">continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9238em;top:24.7015em;"><span class="stl_274 stl_08 stl_520">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6369em;top:24.7015em;"><span class="stl_274 stl_08 stl_851">28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.3065em;"><span class="stl_264 stl_08 stl_237" style="word-spacing:-0.0357em;">Amortization, depreciation and impairment losses are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.1397em;"><span class="stl_264 stl_08 stl_266" style="word-spacing:-0.0354em;">recognized in the income statement:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.1497em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.98em;top:28.1497em;"><span class="stl_267 stl_08 stl_810">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:28.1497em;"><span class="stl_267 stl_08 stl_19">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.1597em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0412em;">Sales and marketing costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:29.1597em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:29.1597em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.1697em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0426em;">Administrative expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9238em;top:30.1697em;"><span class="stl_267 stl_08 stl_351">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6557em;top:30.1697em;"><span class="stl_267 stl_08 stl_116">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:31.1797em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2969em;top:31.1797em;"><span class="stl_267 stl_08 stl_19">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1775em;top:31.1797em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:32.1897em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0329em;">Total amortization, depreciation, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9244em;top:32.1897em;"><span class="stl_274 stl_08 stl_520">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6375em;top:32.1897em;"><span class="stl_274 stl_08 stl_851">28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_183" style="word-spacing:0.0396em;">3.2 Impairment test  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_264 stl_08 stl_253" style="word-spacing:-0.0385em;">Re-allocation of goodwill  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.9305em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">In 2024 the Group has made a change in the organisational structure and internal reporting, resulting in a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.7637em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">DKK5m re-allocation of goodwill from Region US to Region Europe. No risk of impairment was identified prior to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.5968em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">the re-allocation of goodwill.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.2637em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0352em;">Impairment test  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.0968em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0366em;">The carrying amount of goodwill is impairment tested by comparison to the recoverable amount. The recover-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.9299em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0338em;">able amount is determined based on value in use. Discounted cash flow models have been applied to deter-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.763em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">mine the value in use for the cash-generating units, based on the most recent financial forecasts approved  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.5962em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">by management. The CGU’s are in all material aspects subject to the same presumptions hence below is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.4293em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">applicable for all CGU’s. When determining value in use the post-tax discount rate has been used. The pre-tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.2624em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0332em;">discount rate is for information purposes only. Net cash flows for the year 2025-2029 are determined based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.0955em;"><span class="stl_202 stl_08 stl_309" style="word-spacing:-0.0433em;">key assumptions and expectations and estimates based on growth and profit margin expectations based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.9287em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0385em;">past experience and in accordance with NNIT business plans. From 2029 onwards, NNIT expects the growth  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.7618em;"><span class="stl_202 stl_08 stl_235" style="word-spacing:-0.0415em;">rate to remain in line with the expected longterm average growth rate for the industry. The uncertainty associ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.5949em;"><span class="stl_202 stl_08 stl_309" style="word-spacing:-0.0431em;">ated with these expectations is reflected in the discount rate used.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.2618em;"><span class="stl_202 stl_08 stl_73" style="word-spacing:-0.0325em;">Goodwill has been tested for impairment at December 31, 2024. The impairment test did not result in any  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.0949em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">impairment of the carrying amount. The key assumptions used are stated in the following (DKK million).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.8814em;"><span class="stl_264 stl_08 stl_178">CGU</span><sup style="top: -0.2081em;"><span class="stl_837 stl_08 stl_203">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.7975em;top:24.3596em;"><span class="stl_263 stl_08 stl_243">Annual  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.7588em;top:24.3596em;"><span class="stl_263 stl_08 stl_117">Terminal  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.845em;top:25.1096em;"><span class="stl_263 stl_08 stl_326">Carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.4575em;top:25.1096em;"><span class="stl_263 stl_08 stl_120">revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.7494em;top:25.1096em;"><span class="stl_263 stl_08 stl_387">Discount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.2375em;top:25.1096em;"><span class="stl_263 stl_08 stl_387">Discount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.4032em;top:25.1096em;"><span class="stl_263 stl_08 stl_242">period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.8596em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.0738em;top:25.8596em;"><span class="stl_263 stl_08 stl_226">amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.3894em;top:25.8596em;"><span class="stl_263 stl_08 stl_523" style="word-spacing:-0.048em;">growth rate</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.838em;top:25.8596em;"><span class="stl_263 stl_08 stl_303" style="word-spacing:-0.0479em;">rate pre-tax</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.037em;top:25.8596em;"><span class="stl_263 stl_08 stl_530" style="word-spacing:-0.0426em;">rate post-tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.8538em;top:25.8596em;"><span class="stl_263 stl_08 stl_523" style="word-spacing:-0.048em;">growth rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.4646em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.8334em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0378em;">Region Denmark  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.4219em;top:28.8334em;"><span class="stl_267 stl_08 stl_285">113  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.415em;top:28.8334em;"><span class="stl_267 stl_08 stl_856">4-9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.6132em;top:28.8334em;"><span class="stl_267 stl_08 stl_231">9,06%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1088em;top:28.8334em;"><span class="stl_267 stl_08 stl_424">8,97%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.495em;top:28.8334em;"><span class="stl_267 stl_08 stl_340">2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:29.7252em;"><span class="stl_267 stl_08 stl_73" style="word-spacing:-0.0324em;">Region Europe  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.3275em;top:29.7252em;"><span class="stl_267 stl_08 stl_256">272  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.1369em;top:29.7252em;"><span class="stl_267 stl_08 stl_224">8-14%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.6175em;top:29.7252em;"><span class="stl_267 stl_08 stl_387">9,35%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1019em;top:29.7252em;"><span class="stl_267 stl_08 stl_201">9,25%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.495em;top:29.7252em;"><span class="stl_267 stl_08 stl_340">2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:30.6171em;"><span class="stl_267 stl_08 stl_531" style="word-spacing:-0.0342em;">Region US  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.3344em;top:30.6171em;"><span class="stl_267 stl_08 stl_58">320  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.175em;top:30.6171em;"><span class="stl_267 stl_08 stl_857">7-14%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.25em;top:30.6171em;"><span class="stl_267 stl_08 stl_492">10,46%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.745em;top:30.6171em;"><span class="stl_267 stl_08 stl_173">10,32%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4944em;top:30.6171em;"><span class="stl_267 stl_08 stl_340">2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.171em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_344" style="word-spacing:-0.0527em;">ꢀA DKK5m re-allocation of goodwill has been made from Region US to Region Europe. The difference in the carrying amount compared to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.1968em;top:32.7545em;"><span class="stl_350 stl_08 stl_428" style="word-spacing:-0.0473em;">last year is due to changes in exchange rates.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:7.2078em;"><span class="stl_264 stl_08 stl_178">CGU</span><sup style="top: -0.2081em;"><span class="stl_837 stl_08 stl_203">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.8133em;top:7.686em;"><span class="stl_263 stl_08 stl_243">Annual  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:67.7745em;top:7.686em;"><span class="stl_263 stl_08 stl_117">Terminal  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.8608em;top:8.436em;"><span class="stl_263 stl_08 stl_326">Carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.4733em;top:8.436em;"><span class="stl_263 stl_08 stl_120">revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.7652em;top:8.436em;"><span class="stl_263 stl_08 stl_387">Discount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.2533em;top:8.436em;"><span class="stl_263 stl_08 stl_387">Discount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.4189em;top:8.436em;"><span class="stl_263 stl_08 stl_242">period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.186em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:50.0895em;top:9.186em;"><span class="stl_263 stl_08 stl_226">amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.4052em;top:9.186em;"><span class="stl_263 stl_08 stl_303" style="word-spacing:-0.0477em;">growth rate</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.851em;top:9.186em;"><span class="stl_263 stl_08 stl_303" style="word-spacing:-0.0479em;">rate pre-tax</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.050em;top:9.186em;"><span class="stl_263 stl_08 stl_425" style="word-spacing:-0.0428em;">rate post-tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8695em;top:9.186em;"><span class="stl_263 stl_08 stl_523" style="word-spacing:-0.048em;">growth rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.791em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.1598em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0378em;">Region Denmark  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.4377em;top:12.1598em;"><span class="stl_267 stl_08 stl_285">113  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.4664em;top:12.1598em;"><span class="stl_267 stl_08 stl_369">2-9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.6383em;top:12.1598em;"><span class="stl_267 stl_08 stl_10">10.8%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4683em;top:12.1598em;"><span class="stl_267 stl_08 stl_17">8.4%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5108em;top:12.1598em;"><span class="stl_267 stl_08 stl_340">2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7396em;top:13.0517em;"><span class="stl_267 stl_08 stl_73" style="word-spacing:-0.0324em;">Region Europe  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.3589em;top:13.0517em;"><span class="stl_267 stl_08 stl_372">267  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.1527em;top:13.0517em;"><span class="stl_267 stl_08 stl_224">8-14%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.6377em;top:13.0517em;"><span class="stl_267 stl_08 stl_10">10.8%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4677em;top:13.0517em;"><span class="stl_267 stl_08 stl_17">8.4%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5102em;top:13.0517em;"><span class="stl_267 stl_08 stl_340">2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:13.9435em;"><span class="stl_267 stl_08 stl_531" style="word-spacing:-0.0342em;">Region US  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.3239em;top:13.9435em;"><span class="stl_267 stl_08 stl_391">306  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.1458em;top:13.9435em;"><span class="stl_267 stl_08 stl_615">4</span><span class="stl_267 stl_08 stl_747">-</span><span class="stl_267 stl_08 stl_301">14%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.6377em;top:13.9435em;"><span class="stl_267 stl_08 stl_10">10.8%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4677em;top:13.9435em;"><span class="stl_267 stl_08 stl_17">8.4%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5102em;top:13.9435em;"><span class="stl_267 stl_08 stl_340">2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.4974em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_489" style="word-spacing:-0.0533em;">ꢀThe goodwill has been reallocated to the new business segments in 2023. Therefore, the carrying amounts are not directly comparable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.2126em;top:16.0809em;"><span class="stl_350 stl_08 stl_204" style="word-spacing:-0.0511em;">with the 2022 annual report. The difference in the carrying amount compared to 2022 is due to changes in exchange rates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.4472em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">The expected growth in revenue is based on historical performance, expected development in the market in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:19.2803em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0371em;">which the entity operates and assumptions in terms of development in market share. The growth rates applied  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.1134em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0378em;">in the explicit forecast period converge from its current level experienced over the last few years to the long-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.9465em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">term growth level in the market where the entity operates. The growth rates used to extrapolate cash flow  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:21.7797em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0395em;">projections beyond the explicit forecast period are not higher than the average expected long-term growth in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:22.6128em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0376em;">the markets in which the entities operate.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:24.2797em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0398em;">A sensitivity analysis has been carried out in relation to the discount rate (WACC) and terminal growth. The  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:25.1128em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">sensitivity analysis did not give rise to any risk of impairment.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_170" style="word-spacing:0.142em;">1.3 Changes</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:9.538em;top:5.658em;"><span class="stl_527 stl_08 stl_26" style="word-spacing:-0.0209em;">in accounting policies, estimates and disclosures  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">NNIT has applied relevant new or amended IFRS  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.9306em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0362em;">Accounting Standards and interpretations (IFRIC) as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.7637em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">adopted by the EU and which are effective for the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.5968em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0335em;">financial year 1 January – 31 December 2024. NNIT  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.4299em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0404em;">has assessed that the new or amended standards  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.2631em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">and interpretations. The amendments to IAS 1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.0962em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">provide guidance and examples to help entities in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.9293em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0403em;">classifying liabilities as either current or non-current  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.7624em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0354em;">and related disclosures. The amendments have had  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.5956em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.036em;">an impact on NNIT Group’s disclosures related the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.4287em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">Group’s loan facilities and related covenants, but not  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.2618em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">on the measurement, recognition or presentation of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.0949em;"><span class="stl_202 stl_08 stl_68" style="word-spacing:-0.029em;">any items in NNITs Annual Report for 2024.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.7618em;"><span class="stl_264 stl_08 stl_255" style="word-spacing:-0.0368em;">1.3.1 Standards issued but not yet effective  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.5949em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">The new and amended standards and interpreta-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.4281em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0416em;">tions that are issued, but not yet effective, up to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.2612em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">date of issuance of the Group’s financial statements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.0943em;"><span class="stl_202 stl_08 stl_34" style="word-spacing:-0.0322em;">are disclosed below. The Group intends to adopt  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.9274em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">these new and amended standards and interpreta-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.7606em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.043em;">tions, if applicable, when they become effective.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.4274em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0403em;">Only changes expected to have an impact on on the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.2606em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0407em;">Group’s financial position, performance, presenta-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.0937em;"><span class="stl_774 stl_08 stl_257" style="word-spacing:-0.0333em;">tion and/or disclosures is listed.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.7606em;"><span class="stl_264 stl_08 stl_233" style="word-spacing:-0.0332em;">IFRS 18 Presentation and Disclosure in Financial  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.5937em;"><span class="stl_264 stl_08 stl_188">Statements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.4268em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0351em;">In April 2024, the IASB issued IFRS 18, which replaces  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.2599em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0422em;">IAS 1 Presentation of Financial Statements. IFRS  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.0931em;"><span class="stl_202 stl_08 stl_211" style="word-spacing:-0.0314em;">18 introduces new requirements for presentation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.9262em;z-index:1234;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0404em;">within the statement of profit or loss, including spe</span><span class="stl_202 stl_08 stl_831">c</span><span class="stl_202 stl_08 stl_831">-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.7593em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">ified totals and subtotals. Furthermore, entities are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:7.0924em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0379em;">required to classify all income and expenses within  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:7.9255em;"><span class="stl_202 stl_08 stl_309" style="word-spacing:-0.0432em;">the statement of profit or loss into one of five cate-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:8.7587em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0408em;">gories: operating, investing, financing, income taxes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:9.5918em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0408em;">and discontinued operations, whereof the first three  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:10.4249em;"><span class="stl_202 stl_08 stl_112" style="word-spacing:-0.0231em;">are new.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:12.0918em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0364em;">It also requires disclosure of newly defined manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:12.9249em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0384em;">ment-defined performance measures, subtotals of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:13.7581em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0358em;">income and expenses, and includes new require-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:14.5912em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0427em;">ments for aggregation and disaggregation of finan-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:15.4243em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.04em;">cial information based on the identified ‘roles’ of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:16.2574em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0436em;">primary financial statements (PFS) and the notes.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:17.9243em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">In addition, narrow-scope amendments have been  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:18.7574em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">made to IAS 7 Statement of Cash Flows, which  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:19.5906em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0381em;">include changing the starting point for determining  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:20.4237em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0408em;">cash flows from operations under the indirect  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:21.2568em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">method, from ‘profit or loss’ to ‘operating profit or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:22.0899em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.043em;">loss’ and removing the optionality around classifi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:22.923em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">cation of cash flows from dividends and interest. In  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:23.7562em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">addition, there are consequential amendments to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:24.5893em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0393em;">several other standards.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:26.2562em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0394em;">IFRS 18, and the amendments to the other stand-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:27.0893em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0423em;">ards, is effective for reporting periods beginning  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:27.9224em;"><span class="stl_202 stl_08 stl_186" style="word-spacing:-0.0317em;">on or after 1 January 2027, but earlier application is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:28.7555em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0398em;">permitted and must be disclosed. IFRS 18 will apply  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:29.5887em;"><span class="stl_202 stl_08 stl_408">retrospectively.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:31.2555em;"><span class="stl_202 stl_08 stl_309" style="word-spacing:-0.0433em;">The Group is currently working to identify all impacts  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:32.0887em;"><span class="stl_202 stl_08 stl_581" style="word-spacing:-0.0421em;">the amendments will have on the primary financial-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:32.9218em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0432em;">statements and notes to the financial statements.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_170" style="word-spacing:0.142em;">1.3 Changes</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:9.538em;top:5.658em;"><span class="stl_527 stl_08 stl_26" style="word-spacing:-0.0209em;">in accounting policies, estimates and disclosures  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">NNIT has applied relevant new or amended IFRS  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.9306em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0362em;">Accounting Standards and interpretations (IFRIC) as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.7637em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">adopted by the EU and which are effective for the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.5968em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0335em;">financial year 1 January – 31 December 2024. NNIT  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.4299em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0404em;">has assessed that the new or amended standards  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.2631em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">and interpretations. The amendments to IAS 1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.0962em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">provide guidance and examples to help entities in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.9293em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0403em;">classifying liabilities as either current or non-current  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.7624em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0354em;">and related disclosures. The amendments have had  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.5956em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.036em;">an impact on NNIT Group’s disclosures related the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.4287em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">Group’s loan facilities and related covenants, but not  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.2618em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">on the measurement, recognition or presentation of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.0949em;"><span class="stl_202 stl_08 stl_68" style="word-spacing:-0.029em;">any items in NNITs Annual Report for 2024.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.7618em;"><span class="stl_264 stl_08 stl_255" style="word-spacing:-0.0368em;">1.3.1 Standards issued but not yet effective  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.5949em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">The new and amended standards and interpreta-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.4281em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0416em;">tions that are issued, but not yet effective, up to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.2612em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">date of issuance of the Group’s financial statements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.0943em;"><span class="stl_202 stl_08 stl_34" style="word-spacing:-0.0322em;">are disclosed below. The Group intends to adopt  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.9274em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">these new and amended standards and interpreta-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.7606em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.043em;">tions, if applicable, when they become effective.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.4274em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0403em;">Only changes expected to have an impact on on the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.2606em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0407em;">Group’s financial position, performance, presenta-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.0937em;"><span class="stl_774 stl_08 stl_257" style="word-spacing:-0.0333em;">tion and/or disclosures is listed.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.7606em;"><span class="stl_264 stl_08 stl_233" style="word-spacing:-0.0332em;">IFRS 18 Presentation and Disclosure in Financial  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.5937em;"><span class="stl_264 stl_08 stl_188">Statements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.4268em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0351em;">In April 2024, the IASB issued IFRS 18, which replaces  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.2599em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0422em;">IAS 1 Presentation of Financial Statements. IFRS  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.0931em;"><span class="stl_202 stl_08 stl_211" style="word-spacing:-0.0314em;">18 introduces new requirements for presentation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.9262em;z-index:1234;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0404em;">within the statement of profit or loss, including spe</span><span class="stl_202 stl_08 stl_831">c</span><span class="stl_202 stl_08 stl_831">-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.7593em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">ified totals and subtotals. Furthermore, entities are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:7.0924em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0379em;">required to classify all income and expenses within  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:7.9255em;"><span class="stl_202 stl_08 stl_309" style="word-spacing:-0.0432em;">the statement of profit or loss into one of five cate-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:8.7587em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0408em;">gories: operating, investing, financing, income taxes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:9.5918em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0408em;">and discontinued operations, whereof the first three  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:10.4249em;"><span class="stl_202 stl_08 stl_112" style="word-spacing:-0.0231em;">are new.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:12.0918em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0364em;">It also requires disclosure of newly defined manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:12.9249em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0384em;">ment-defined performance measures, subtotals of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:13.7581em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0358em;">income and expenses, and includes new require-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:14.5912em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0427em;">ments for aggregation and disaggregation of finan-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:15.4243em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.04em;">cial information based on the identified ‘roles’ of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:16.2574em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0436em;">primary financial statements (PFS) and the notes.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:17.9243em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">In addition, narrow-scope amendments have been  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:18.7574em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">made to IAS 7 Statement of Cash Flows, which  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:19.5906em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0381em;">include changing the starting point for determining  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:20.4237em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0408em;">cash flows from operations under the indirect  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:21.2568em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">method, from ‘profit or loss’ to ‘operating profit or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:22.0899em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.043em;">loss’ and removing the optionality around classifi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:22.923em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">cation of cash flows from dividends and interest. In  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:23.7562em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">addition, there are consequential amendments to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:24.5893em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0393em;">several other standards.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:26.2562em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0394em;">IFRS 18, and the amendments to the other stand-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:27.0893em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0423em;">ards, is effective for reporting periods beginning  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:27.9224em;"><span class="stl_202 stl_08 stl_186" style="word-spacing:-0.0317em;">on or after 1 January 2027, but earlier application is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:28.7555em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0398em;">permitted and must be disclosed. IFRS 18 will apply  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:29.5887em;"><span class="stl_202 stl_08 stl_408">retrospectively.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:31.2555em;"><span class="stl_202 stl_08 stl_309" style="word-spacing:-0.0433em;">The Group is currently working to identify all impacts  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:32.0887em;"><span class="stl_202 stl_08 stl_581" style="word-spacing:-0.0421em;">the amendments will have on the primary financial-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4963em;top:32.9218em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0432em;">statements and notes to the financial statements.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_176" style="word-spacing:0.1627em;">1.4 General</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:9.326em;top:5.658em;"><span class="stl_527 stl_08 stl_149" style="word-spacing:-0.0181em;">accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_264 stl_08 stl_386" style="word-spacing:-0.0319em;">Principles of consolidation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.9306em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0404em;">The consolidated financial statements include the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.7637em;"><span class="stl_774 stl_08 stl_530" style="word-spacing:-0.0424em;">financial statements of NNIT A/S (parent company)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.5968em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">and entities over which the Group has control.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.4299em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">The Group controls an entity when the Group is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.2631em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0368em;">exposed to, or has rights to, variable returns from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.0962em;"><span class="stl_202 stl_08 stl_251" style="word-spacing:-0.046em;">its involvement with the entity and has the ability  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.9293em;"><span class="stl_202 stl_08 stl_581" style="word-spacing:-0.042em;">to affect those returns through its power over the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.7624em;"><span class="stl_774 stl_08 stl_259" style="word-spacing:-0.0436em;">entity. NNIT A/S and its subsidiaries are collectively  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.5956em;"><span class="stl_202 stl_08 stl_68" style="word-spacing:-0.0291em;">referred to as the Group.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.2624em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0396em;">The consolidated financial statements are based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.0956em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0375em;">the financial statements of the Parent Company and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.9287em;"><span class="stl_202 stl_08 stl_227" style="word-spacing:-0.0322em;">the subsidiaries, and are prepared by combining  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.7618em;"><span class="stl_202 stl_08 stl_424" style="word-spacing:-0.0306em;">items of a similar nature and eliminating intercom-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.5949em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0395em;">pany transactions, shareholdings, balances and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.4281em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">unrealized intercompany profits and losses. The  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.2612em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">consolidated financial statements are based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.0943em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">financial statements of Group companies prepared  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.9274em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">in accordance with the Group’s accounting policies.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.8047em;"><span class="stl_264 stl_08 stl_146" style="word-spacing:-0.03em;">Translation of foreign currency  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.6379em;"><span class="stl_610 stl_08 stl_581" style="word-spacing:-0.0423em;">Functional currency and presentation currency  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:14.471em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">The financial statement items for each of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.3041em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0373em;">Group’s entities are measured in the currency used  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.1372em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">in the economic environment in which the entity  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.9703em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0402em;">operates (functional currency).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.6372em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0401em;">The consolidated financial statements are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:19.4703em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0375em;">presented in Danish kroner (DKK).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:21.1372em;"><span class="stl_610 stl_08 stl_531" style="word-spacing:-0.034em;">Transactions and balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:21.9703em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0341em;">Transactions in foreign currencies within the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:22.8035em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0385em;">are translated into the functional currency at the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.6366em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0357em;">exchange rate at the transaction date. Receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:24.4697em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0337em;">and liabilities in foreign currencies that have not  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:25.3028em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.037em;">been settled at the balance sheet date are trans-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:26.136em;"><span class="stl_202 stl_08 stl_424" style="word-spacing:-0.0308em;">lated at the exchange rate at the balance sheet date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:27.8028em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.0326em;">Realized and unrealized exchange rate adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:28.636em;"><span class="stl_202 stl_08 stl_386" style="word-spacing:-0.0327em;">are recognized in the income statement under  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:29.4691em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0392em;">“financial income and expenses”.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:31.136em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">Currency translation for foreign operations in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:31.9691em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0365em;">financial statements of foreign subsidiaries' balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:32.8022em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.036em;">sheet items are translated to Danish kroner (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:33.6353em;"><span class="stl_202 stl_08 stl_215" style="word-spacing:-0.0314em;">at the exchange rate at the balance sheet date, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:34.4685em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0338em;">income statement items are translated using the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:35.3016em;"><span class="stl_202 stl_08 stl_422" style="word-spacing:-0.0268em;">average exchange rate.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:36.9685em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0344em;">Exchange differences arising from:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:6.9685em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.457em;top:6.9685em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0392em;">the translation of subsidiaries’ net assets at the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.457em;top:7.8016em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.034em;">beginning of the financial year at exchange rates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.457em;top:8.6347em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">at the balance sheet date and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:9.7041em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.457em;top:9.7041em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0378em;">the translation of subsidiaries’ income statements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.457em;top:10.5372em;"><span class="stl_202 stl_08 stl_211" style="word-spacing:-0.0312em;">at exchange rates at the balance sheet date  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:11.6066em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.457em;top:11.6066em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.036em;">exchange rate adjustments of loans, which are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.457em;top:12.4397em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0395em;">seen as part of the net investment in foreign  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.457em;top:13.2729em;"><span class="stl_202 stl_08 stl_492">subsidiaries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:14.9397em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0336em;">are recognized in ‘exchange rate adjustments’ in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:15.7729em;"><span class="stl_202 stl_08 stl_73" style="word-spacing:-0.0325em;">other comprehensive income and presented in a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:16.606em;"><span class="stl_202 stl_08 stl_581" style="word-spacing:-0.0421em;">separate reserve within equity.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.8047em;"><span class="stl_264 stl_08 stl_146" style="word-spacing:-0.03em;">Translation of foreign currency  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.6379em;"><span class="stl_610 stl_08 stl_581" style="word-spacing:-0.0423em;">Functional currency and presentation currency  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:14.471em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">The financial statement items for each of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.3041em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0373em;">Group’s entities are measured in the currency used  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.1372em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">in the economic environment in which the entity  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.9703em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0402em;">operates (functional currency).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.6372em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0401em;">The consolidated financial statements are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:19.4703em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0375em;">presented in Danish kroner (DKK).  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.4668em;"><span class="stl_264 stl_08 stl_387" style="word-spacing:-0.0332em;">Acquisition of subsidiaries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.2999em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">On acquisition of subsidiaries, the acquisition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.1331em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.041em;">method is applied, and identifiable assets and liabil-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.9662em;"><span class="stl_202 stl_08 stl_73" style="word-spacing:-0.0325em;">ities are recognized and generally measured at fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.7993em;"><span class="stl_202 stl_08 stl_340" style="word-spacing:-0.0341em;">value at the date control was achieved.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.4662em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0401em;">Identifiable intangible assets are recognized if they  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.2993em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0374em;">can be separated, and the fair value can be reliably  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.1324em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0335em;">measured. Deferred tax on revaluations is recog-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.9656em;"><span class="stl_202 stl_08 stl_132">nized.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.6324em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">Any positive differences between fair value of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:24.4656em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0358em;">consideration transferred and fair value of net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.2987em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0343em;">assets acquired on acquisition of subsidiaries are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.1318em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0344em;">recognized as goodwill. Consideration transferred  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.9649em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0349em;">consists of shares, contingent consideration as well  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.798em;"><span class="stl_202 stl_08 stl_309" style="word-spacing:-0.043em;">as cash and cash equivalents.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.4649em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">Goodwill is not amortized but is tested annually for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:30.298em;"><span class="stl_202 stl_08 stl_529">impairment.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.9649em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0344em;">Transactions costs are recognized as operating  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.7981em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0399em;">costs as they have incurred.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:34.4649em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.034em;">If the initial accounting for business combination  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.2981em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">can be determined only preliminary by the end of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:36.1312em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0406em;">the period in which the combination is affected,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:36.9643em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0374em;">adjustments made to the provisional fair value of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:37.7974em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0382em;">acquired net assets or cost of the acquisition within  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:6.9716em;"><span class="stl_202 stl_08 stl_68" style="word-spacing:-0.0291em;">12 months of the acquisition date are adjusted to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:7.8047em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0377em;">the initial goodwill.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.4716em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.033em;">Acquired entities are recognized in the consoli-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.3047em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">dated financial statements at the date control was  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.1379em;"><span class="stl_202 stl_08 stl_203">achieved.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.4668em;"><span class="stl_264 stl_08 stl_387" style="word-spacing:-0.0332em;">Acquisition of subsidiaries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.2999em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">On acquisition of subsidiaries, the acquisition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.1331em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.041em;">method is applied, and identifiable assets and liabil-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.9662em;"><span class="stl_202 stl_08 stl_73" style="word-spacing:-0.0325em;">ities are recognized and generally measured at fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.7993em;"><span class="stl_202 stl_08 stl_340" style="word-spacing:-0.0341em;">value at the date control was achieved.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.4662em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0401em;">Identifiable intangible assets are recognized if they  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.2993em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0374em;">can be separated, and the fair value can be reliably  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.1324em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0335em;">measured. Deferred tax on revaluations is recog-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.9656em;"><span class="stl_202 stl_08 stl_132">nized.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.6324em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">Any positive differences between fair value of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:24.4656em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0358em;">consideration transferred and fair value of net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.2987em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0343em;">assets acquired on acquisition of subsidiaries are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.1318em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0344em;">recognized as goodwill. Consideration transferred  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.9649em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0349em;">consists of shares, contingent consideration as well  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.798em;"><span class="stl_202 stl_08 stl_309" style="word-spacing:-0.043em;">as cash and cash equivalents.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.4649em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">Goodwill is not amortized but is tested annually for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:30.298em;"><span class="stl_202 stl_08 stl_529">impairment.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.9649em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0344em;">Transactions costs are recognized as operating  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.7981em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0399em;">costs as they have incurred.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:34.4649em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.034em;">If the initial accounting for business combination  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.2981em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">can be determined only preliminary by the end of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:36.1312em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0406em;">the period in which the combination is affected,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:36.9643em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0374em;">adjustments made to the provisional fair value of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:37.7974em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0382em;">acquired net assets or cost of the acquisition within  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:6.9716em;"><span class="stl_202 stl_08 stl_68" style="word-spacing:-0.0291em;">12 months of the acquisition date are adjusted to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:7.8047em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0377em;">the initial goodwill.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.4716em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.033em;">Acquired entities are recognized in the consoli-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.3047em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">dated financial statements at the date control was  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.1379em;"><span class="stl_202 stl_08 stl_203">achieved.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.4668em;"><span class="stl_264 stl_08 stl_387" style="word-spacing:-0.0332em;">Acquisition of subsidiaries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.2999em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">On acquisition of subsidiaries, the acquisition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.1331em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.041em;">method is applied, and identifiable assets and liabil-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.9662em;"><span class="stl_202 stl_08 stl_73" style="word-spacing:-0.0325em;">ities are recognized and generally measured at fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.7993em;"><span class="stl_202 stl_08 stl_340" style="word-spacing:-0.0341em;">value at the date control was achieved.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.4662em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0401em;">Identifiable intangible assets are recognized if they  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.2993em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0374em;">can be separated, and the fair value can be reliably  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.1324em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0335em;">measured. Deferred tax on revaluations is recog-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.9656em;"><span class="stl_202 stl_08 stl_132">nized.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.6324em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">Any positive differences between fair value of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:24.4656em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0358em;">consideration transferred and fair value of net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.2987em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0343em;">assets acquired on acquisition of subsidiaries are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.1318em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0344em;">recognized as goodwill. Consideration transferred  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.9649em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0349em;">consists of shares, contingent consideration as well  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.798em;"><span class="stl_202 stl_08 stl_309" style="word-spacing:-0.043em;">as cash and cash equivalents.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.4649em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">Goodwill is not amortized but is tested annually for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:30.298em;"><span class="stl_202 stl_08 stl_529">impairment.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.9649em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0344em;">Transactions costs are recognized as operating  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.7981em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0399em;">costs as they have incurred.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:34.4649em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.034em;">If the initial accounting for business combination  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.2981em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">can be determined only preliminary by the end of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:36.1312em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0406em;">the period in which the combination is affected,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:36.9643em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0374em;">adjustments made to the provisional fair value of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:37.7974em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0382em;">acquired net assets or cost of the acquisition within  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:6.9716em;"><span class="stl_202 stl_08 stl_68" style="word-spacing:-0.0291em;">12 months of the acquisition date are adjusted to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:7.8047em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0377em;">the initial goodwill.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.4716em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.033em;">Acquired entities are recognized in the consoli-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.3047em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">dated financial statements at the date control was  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.1379em;"><span class="stl_202 stl_08 stl_203">achieved.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:18.2728em;"><span class="stl_264 stl_08 stl_276">Costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:19.106em;"><span class="stl_610 stl_08 stl_245" style="word-spacing:-0.0353em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:19.9391em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0399em;">The cost of goods sold comprises costs paid in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:20.7722em;"><span class="stl_202 stl_08 stl_11" style="word-spacing:-0.0263em;">order to generate revenue for the year, including  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:21.6053em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.041em;">amortization and depreciation, share-based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:22.4385em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0385em;">compensation and salaries.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_269" style="word-spacing:0.0238em;">2.2 Employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:6.9785em;"><span class="stl_264 stl_08 stl_214">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:6.9785em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6423em;"><span class="stl_264 stl_08 stl_266" style="word-spacing:-0.0355em;">Employee costs comprise:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.6523em;"><span class="stl_267 stl_08 stl_411" style="word-spacing:-0.0345em;">Wages and salaries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.0332em;top:9.6523em;"><span class="stl_267 stl_08 stl_163">1,090  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7482em;top:9.6523em;"><span class="stl_267 stl_08 stl_266">1,383  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.6623em;"><span class="stl_267 stl_08 stl_509" style="word-spacing:-0.0462em;">Share-based payments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:10.6623em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:10.6623em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.6723em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.038em;">Pensions – defined contribution plans  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9425em;top:11.6723em;"><span class="stl_267 stl_08 stl_57">76  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6613em;top:11.6723em;"><span class="stl_267 stl_08 stl_302">91  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.6823em;"><span class="stl_267 stl_08 stl_529" style="word-spacing:-0.037em;">Pensions – defined benefit obligations (note 3.7)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:12.6823em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:12.6823em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6923em;"><span class="stl_267 stl_08 stl_695" style="word-spacing:-0.0441em;">Other employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9225em;top:13.6923em;"><span class="stl_267 stl_08 stl_518">98  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3238em;top:13.6923em;"><span class="stl_267 stl_08 stl_841">132  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.7023em;"><span class="stl_264 stl_08 stl_27" style="word-spacing:-0.028em;">Total employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9825em;top:14.7023em;"><span class="stl_274 stl_08 stl_399">1,271  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7788em;top:14.7023em;"><span class="stl_274 stl_08 stl_109">1,611  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.3073em;"><span class="stl_267 stl_08 stl_203" style="word-spacing:-0.0365em;">Total employee costs, discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:16.3073em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2794em;top:16.3073em;"><span class="stl_267 stl_08 stl_581">347  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.3173em;"><span class="stl_264 stl_08 stl_179" style="word-spacing:-0.0304em;">Total employee costs, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9825em;top:17.3173em;"><span class="stl_274 stl_08 stl_399">1,271  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6888em;top:17.3173em;"><span class="stl_274 stl_08 stl_654">1,264  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.9223em;"><span class="stl_267 stl_08 stl_91" style="word-spacing:-0.0419em;">Capitalized under IT development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7244em;top:18.9223em;"><span class="stl_267 stl_08 stl_146">(40)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.8175em;top:18.9223em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9788em;top:19.9323em;"><span class="stl_274 stl_08 stl_473">1,231  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7294em;top:19.9323em;"><span class="stl_274 stl_08 stl_215">1,261  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.5373em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0351em;">Included in the income statement under the following headings:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.5473em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5657em;top:22.5473em;"><span class="stl_267 stl_08 stl_143">928  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2782em;top:22.5473em;"><span class="stl_267 stl_08 stl_268">977  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.5573em;"><span class="stl_267 stl_08 stl_230" style="word-spacing:-0.0408em;">Sales and marketing costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9182em;top:23.5573em;"><span class="stl_267 stl_08 stl_289">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6475em;top:23.5573em;"><span class="stl_267 stl_08 stl_351">56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.5673em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0426em;">Administrative expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5819em;top:24.5673em;"><span class="stl_267 stl_08 stl_84">188  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3063em;top:24.5673em;"><span class="stl_267 stl_08 stl_379">160  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.5773em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9388em;top:25.5773em;"><span class="stl_267 stl_08 stl_192">47  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6425em;top:25.5773em;"><span class="stl_267 stl_08 stl_289">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.5873em;"><span class="stl_264 stl_08 stl_27" style="word-spacing:-0.028em;">Total employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9788em;top:26.5873em;"><span class="stl_274 stl_08 stl_473">1,231  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7294em;top:26.5873em;"><span class="stl_274 stl_08 stl_215">1,261  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.1923em;"><span class="stl_267 stl_08 stl_228" style="word-spacing:-0.038em;">Average number of full-time employees, total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.06em;top:28.1923em;"><span class="stl_267 stl_08 stl_196">1,704  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8319em;top:28.1923em;"><span class="stl_267 stl_08 stl_295">1,974  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.2023em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0365em;">Average number of full-time employees, continuing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.06em;top:29.2023em;"><span class="stl_267 stl_08 stl_196">1,704  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7757em;top:29.2023em;"><span class="stl_267 stl_08 stl_296">1,773  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.0111em;"><span class="stl_527 stl_08 stl_113" style="word-spacing:-0.0002em;">2.4 Amortization, depreciation and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.3315em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:17.3315em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:17.3315em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.9953em;"><span class="stl_267 stl_08 stl_90">Amortization  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:18.9953em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:18.9953em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.0053em;"><span class="stl_267 stl_08 stl_236">Depreciation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9125em;top:20.0053em;"><span class="stl_267 stl_08 stl_460">46  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6482em;top:20.0053em;"><span class="stl_267 stl_08 stl_351">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.0153em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0329em;">Total amortization, depreciation, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9238em;top:21.0153em;"><span class="stl_274 stl_08 stl_520">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.64em;top:21.0153em;"><span class="stl_274 stl_08 stl_707">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.0253em;"><span class="stl_267 stl_08 stl_321" style="word-spacing:-0.0394em;">Total amortization, depreciation, and impairment losses,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8584em;"><span class="stl_267 stl_08 stl_203" style="word-spacing:-0.0371em;">discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:22.8584em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:22.8584em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.8684em;"><span class="stl_264 stl_08 stl_387" style="word-spacing:-0.0335em;">Total amortization, depreciation, and impairment losses,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.7015em;"><span class="stl_264 stl_08 stl_424" style="word-spacing:-0.0309em;">continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9238em;top:24.7015em;"><span class="stl_274 stl_08 stl_520">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6369em;top:24.7015em;"><span class="stl_274 stl_08 stl_851">28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.3065em;"><span class="stl_264 stl_08 stl_237" style="word-spacing:-0.0357em;">Amortization, depreciation and impairment losses are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.1397em;"><span class="stl_264 stl_08 stl_266" style="word-spacing:-0.0354em;">recognized in the income statement:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.1497em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.98em;top:28.1497em;"><span class="stl_267 stl_08 stl_810">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:28.1497em;"><span class="stl_267 stl_08 stl_19">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.1597em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0412em;">Sales and marketing costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:29.1597em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:29.1597em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.1697em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0426em;">Administrative expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9238em;top:30.1697em;"><span class="stl_267 stl_08 stl_351">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6557em;top:30.1697em;"><span class="stl_267 stl_08 stl_116">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:31.1797em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2969em;top:31.1797em;"><span class="stl_267 stl_08 stl_19">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1775em;top:31.1797em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:32.1897em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0329em;">Total amortization, depreciation, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9244em;top:32.1897em;"><span class="stl_274 stl_08 stl_520">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6375em;top:32.1897em;"><span class="stl_274 stl_08 stl_851">28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_146" style="word-spacing:0.0232em;">2.3 Development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:6.9785em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:6.9785em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6423em;"><span class="stl_264 stl_08 stl_247" style="word-spacing:-0.0376em;">Costs for development of new projects, not eligible for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.4754em;"><span class="stl_264 stl_08 stl_492" style="word-spacing:-0.0333em;">recognition in the balance sheet are charged immediately  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3085em;"><span class="stl_264 stl_08 stl_255" style="word-spacing:-0.0363em;">to the income statement:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.3185em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:11.3185em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6838em;top:11.3185em;"><span class="stl_267 stl_08 stl_286">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.3285em;"><span class="stl_267 stl_08 stl_276" style="word-spacing:-0.0431em;">Special items, costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.94em;top:12.3285em;"><span class="stl_267 stl_08 stl_721">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:12.3285em;"><span class="stl_267 stl_08 stl_19">0</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.3385em;"><span class="stl_264 stl_08 stl_68" style="word-spacing:-0.0293em;">Total development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9094em;top:13.3385em;"><span class="stl_274 stl_08 stl_405">24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6675em;top:13.3385em;"><span class="stl_274 stl_08 stl_50">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3825em;"><span class="stl_527 stl_08 stl_29" style="word-spacing:0.2348em;">5.1 Long-term</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:10.310em;top:10.3825em;"><span class="stl_527 stl_08 stl_144">incentives  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.8218em;"><span class="stl_264 stl_08 stl_408" style="word-spacing:-0.0393em;">Long-term share-based incentive program  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.655em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0357em;">Group Management and the Vice Presidents are included in a long-term share-based incentive program.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.4881em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0344em;">For more information regarding the long-term share-based incentive program, please refer to note 2.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.3212em;"><span class="stl_202 stl_08 stl_309" style="word-spacing:-0.0433em;">'Employee costs'  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.9881em;"><span class="stl_264 stl_08 stl_231" style="word-spacing:-0.0368em;">Share-based payments are recognized at the following amounts:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.5363em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:17.5363em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:17.5363em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.2em;"><span class="stl_267 stl_08 stl_249" style="word-spacing:-0.0345em;">Long-term incentive program (LTIP) in NNIT shares - share based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:19.2em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:19.2em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.21em;"><span class="stl_264 stl_08 stl_531" style="word-spacing:-0.034em;">Incentive program charged to income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2969em;top:20.21em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0213em;top:20.21em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.815em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.0348em;">Recognized in the income statement:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.825em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:22.825em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:22.825em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.835em;"><span class="stl_267 stl_08 stl_200">Administration  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:23.835em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:23.835em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.845em;"><span class="stl_264 stl_08 stl_157">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2969em;top:24.845em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0213em;top:24.845em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.4563em;"><span class="stl_202 stl_08 stl_186" style="word-spacing:-0.0317em;">Shares are recognized over the four-year vesting period at the market value at the grant date. Value adjust-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.2894em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">ments are recognized as financial items.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.8377em;"><span class="stl_264 stl_08 stl_247" style="word-spacing:-0.0375em;">Outstanding restricted stock units (in NNIT shares):  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.3855em;"><span class="stl_263 stl_08 stl_299" style="word-spacing:-0.0531em;">Number '000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:13.3855em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:13.3855em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.0493em;"><span class="stl_267 stl_08 stl_532" style="word-spacing:-0.0412em;">Outstanding at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5702em;top:15.0493em;"><span class="stl_267 stl_08 stl_305">209  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3558em;top:15.0493em;"><span class="stl_267 stl_08 stl_828">141  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.0593em;"><span class="stl_267 stl_08 stl_257" style="word-spacing:-0.0329em;">Long-term incentive program (LTIP)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:16.0593em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3352em;top:16.0593em;"><span class="stl_267 stl_08 stl_466">125  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.0693em;"><span class="stl_267 stl_08 stl_67" style="word-spacing:-0.0293em;">Transfer to employees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7308em;top:17.0693em;"><span class="stl_267 stl_08 stl_230">(25)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4995em;top:17.0693em;"><span class="stl_267 stl_08 stl_376">(31)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.0793em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0399em;">Committed to employees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:18.0793em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.847em;top:18.0793em;"><span class="stl_267 stl_08 stl_331">(9)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:19.0893em;"><span class="stl_267 stl_08 stl_309" style="word-spacing:-0.0433em;">Forfeiture during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7308em;top:19.0893em;"><span class="stl_267 stl_08 stl_230">(78)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5033em;top:19.0893em;"><span class="stl_267 stl_08 stl_680">(17)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.0993em;"><span class="stl_264 stl_08 stl_226" style="word-spacing:-0.0362em;">Outstanding at the end of the year (in NNIT shares)</span><sup style="top: -0.2093em;"><span class="stl_281 stl_08 stl_763" style="word-spacing:-0.0621em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5667em;top:20.0981em;"><span class="stl_274 stl_08 stl_204">106  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2729em;top:20.0981em;"><span class="stl_274 stl_08 stl_594">209  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7404em;top:21.7031em;"><span class="stl_267 stl_08 stl_245" style="word-spacing:-0.0353em;">Fair value of the RSU's end of period (DKK million)</span><sup style="top: -0.2082em;"><span class="stl_281 stl_08 stl_653" style="word-spacing:-0.0605em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9532em;top:21.703em;"><span class="stl_274 stl_08 stl_462">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6801em;top:21.703em;"><span class="stl_274 stl_08 stl_192">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.1981em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_523" style="word-spacing:-0.048em;">ꢀThe share price as of December 31, 2024 has been used when calculating the fair value of the RSU’s.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.7814em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">2</span></sup><span class="stl_347 stl_08 stl_268" style="word-spacing:-0.0441em;">ꢀKey management has been in total granted 20,487 shares with a fair value of DKK 1.9 million as of December 31, 2024.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:18.2728em;"><span class="stl_264 stl_08 stl_276">Costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:19.106em;"><span class="stl_610 stl_08 stl_245" style="word-spacing:-0.0353em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:19.9391em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0399em;">The cost of goods sold comprises costs paid in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:20.7722em;"><span class="stl_202 stl_08 stl_11" style="word-spacing:-0.0263em;">order to generate revenue for the year, including  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:21.6053em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.041em;">amortization and depreciation, share-based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:22.4385em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0385em;">compensation and salaries.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:24.1053em;"><span class="stl_610 stl_08 stl_230" style="word-spacing:-0.0407em;">Sales and marketing costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:24.9385em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0408em;">Sales and marketing costs comprise costs in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:25.7716em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0374em;">form of salaries and share-based compensation for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:26.6047em;"><span class="stl_202 stl_08 stl_89" style="word-spacing:-0.0452em;">sales and marketing staff, advertising costs, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:27.4378em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0396em;">amortization and depreciation.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:29.1047em;"><span class="stl_610 stl_08 stl_250" style="word-spacing:-0.0429em;">Administrative expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:29.9378em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0426em;">Administrative expenses comprise costs in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:30.771em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0374em;">form of share-based compensation and salaries for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:31.6041em;"><span class="stl_202 stl_08 stl_89" style="word-spacing:-0.0451em;">administrative staff and amortization and depreci-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:32.4372em;"><span class="stl_202 stl_08 stl_236">ation.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:34.1041em;"><span class="stl_610 stl_08 stl_492" style="word-spacing:-0.0337em;">Special Items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:34.9372em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">Special items comprise costs or income that cannot  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:35.7703em;"><span class="stl_202 stl_08 stl_658" style="word-spacing:-0.0454em;">be attributed directly to the Group’s ordinary activ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:36.6035em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">ities and are non-recurring of nature. Such costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:37.4366em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0364em;">and income include the cost related to significant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:38.2697em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">restructuring of the cost base and processes as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:39.1028em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">well as restructuring costs related to resignation of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0412em;">employees. Further special items include significant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_523" style="word-spacing:-0.0482em;">cost related to M&amp;A activities, earn-out payments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6378em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">related to acquisitions where earn-out is in part  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.471em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0349em;">subject to the selling shareholders' continued  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3041em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">employment during the accrual period, redun-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1372em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0352em;">dancy cost related to members of Group Manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.9703em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">ment, impairment of assets and gains and losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.8035em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0385em;">regarding disposal of activities or subsidiaries.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4703em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0338em;">Special items are shown separately in the Group to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.3035em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0385em;">give a true and fair presentation of the Group’s ordi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1366em;"><span class="stl_202 stl_08 stl_89" style="word-spacing:-0.0452em;">nary operations.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_269" style="word-spacing:0.0238em;">2.2 Employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:6.9785em;"><span class="stl_264 stl_08 stl_214">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:6.9785em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6423em;"><span class="stl_264 stl_08 stl_266" style="word-spacing:-0.0355em;">Employee costs comprise:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.6523em;"><span class="stl_267 stl_08 stl_411" style="word-spacing:-0.0345em;">Wages and salaries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.0332em;top:9.6523em;"><span class="stl_267 stl_08 stl_163">1,090  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7482em;top:9.6523em;"><span class="stl_267 stl_08 stl_266">1,383  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.6623em;"><span class="stl_267 stl_08 stl_509" style="word-spacing:-0.0462em;">Share-based payments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:10.6623em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:10.6623em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.6723em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.038em;">Pensions – defined contribution plans  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9425em;top:11.6723em;"><span class="stl_267 stl_08 stl_57">76  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6613em;top:11.6723em;"><span class="stl_267 stl_08 stl_302">91  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.6823em;"><span class="stl_267 stl_08 stl_529" style="word-spacing:-0.037em;">Pensions – defined benefit obligations (note 3.7)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:12.6823em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:12.6823em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6923em;"><span class="stl_267 stl_08 stl_695" style="word-spacing:-0.0441em;">Other employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9225em;top:13.6923em;"><span class="stl_267 stl_08 stl_518">98  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3238em;top:13.6923em;"><span class="stl_267 stl_08 stl_841">132  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.7023em;"><span class="stl_264 stl_08 stl_27" style="word-spacing:-0.028em;">Total employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9825em;top:14.7023em;"><span class="stl_274 stl_08 stl_399">1,271  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7788em;top:14.7023em;"><span class="stl_274 stl_08 stl_109">1,611  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.3073em;"><span class="stl_267 stl_08 stl_203" style="word-spacing:-0.0365em;">Total employee costs, discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:16.3073em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2794em;top:16.3073em;"><span class="stl_267 stl_08 stl_581">347  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.3173em;"><span class="stl_264 stl_08 stl_179" style="word-spacing:-0.0304em;">Total employee costs, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9825em;top:17.3173em;"><span class="stl_274 stl_08 stl_399">1,271  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6888em;top:17.3173em;"><span class="stl_274 stl_08 stl_654">1,264  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.9223em;"><span class="stl_267 stl_08 stl_91" style="word-spacing:-0.0419em;">Capitalized under IT development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7244em;top:18.9223em;"><span class="stl_267 stl_08 stl_146">(40)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.8175em;top:18.9223em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9788em;top:19.9323em;"><span class="stl_274 stl_08 stl_473">1,231  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7294em;top:19.9323em;"><span class="stl_274 stl_08 stl_215">1,261  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.5373em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0351em;">Included in the income statement under the following headings:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.5473em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5657em;top:22.5473em;"><span class="stl_267 stl_08 stl_143">928  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2782em;top:22.5473em;"><span class="stl_267 stl_08 stl_268">977  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.5573em;"><span class="stl_267 stl_08 stl_230" style="word-spacing:-0.0408em;">Sales and marketing costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9182em;top:23.5573em;"><span class="stl_267 stl_08 stl_289">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6475em;top:23.5573em;"><span class="stl_267 stl_08 stl_351">56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.5673em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0426em;">Administrative expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5819em;top:24.5673em;"><span class="stl_267 stl_08 stl_84">188  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3063em;top:24.5673em;"><span class="stl_267 stl_08 stl_379">160  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.5773em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9388em;top:25.5773em;"><span class="stl_267 stl_08 stl_192">47  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6425em;top:25.5773em;"><span class="stl_267 stl_08 stl_289">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.5873em;"><span class="stl_264 stl_08 stl_27" style="word-spacing:-0.028em;">Total employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9788em;top:26.5873em;"><span class="stl_274 stl_08 stl_473">1,231  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7294em;top:26.5873em;"><span class="stl_274 stl_08 stl_215">1,261  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.1923em;"><span class="stl_267 stl_08 stl_228" style="word-spacing:-0.038em;">Average number of full-time employees, total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.06em;top:28.1923em;"><span class="stl_267 stl_08 stl_196">1,704  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8319em;top:28.1923em;"><span class="stl_267 stl_08 stl_295">1,974  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.2023em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0365em;">Average number of full-time employees, continuing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.06em;top:29.2023em;"><span class="stl_267 stl_08 stl_196">1,704  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7757em;top:29.2023em;"><span class="stl_267 stl_08 stl_296">1,773  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:6.9754em;"><span class="stl_264 stl_08 stl_387" style="word-spacing:-0.0336em;">Remuneration of Board of Directors and Group Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:7.8085em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.037em;">The current policy for the remuneration of the Board of Directors and Executive Management was adopted in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:8.6416em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0339em;">2024 and sets out the general guidelines for the remuneration of the Group’s management. The guidelines for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:9.4748em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.036em;">the remuneration of the Board of Directors and Executive Management are available on NNIT’s website.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:11.0167em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0364em;">In addition to the disclosures provided in this note, more details on the remuneration of Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:11.8498em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">and Directors are provided in the separate Remuneration report, which is not a part of the audited financial  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:12.6829em;"><span class="stl_202 stl_08 stl_581" style="word-spacing:-0.0419em;">statements. The report is also available on NNIT’s website.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:14.2248em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0345em;">Board of Directors remuneration  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.5272em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:15.5272em;"><span class="stl_264 stl_08 stl_214">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:15.5272em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.1322em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0422em;">Ordinary board member fee  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7795em;top:17.1322em;"><span class="stl_267 stl_08 stl_209">3.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4889em;top:17.1322em;"><span class="stl_267 stl_08 stl_231">3.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.1422em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0425em;">Audit Committee  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7514em;top:18.1422em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4758em;top:18.1422em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:19.1522em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0398em;">Remuneration Committee  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7533em;top:19.1522em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4777em;top:19.1522em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.1622em;"><span class="stl_264 stl_08 stl_227" style="word-spacing:-0.0321em;">Total fee to Board of Directors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7214em;top:20.1622em;"><span class="stl_274 stl_08 stl_398">4.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5102em;top:20.1622em;"><span class="stl_274 stl_08 stl_594">4</span><span class="stl_274 stl_08 stl_842">.</span><span class="stl_274 stl_08 stl_842">1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_264 stl_08 stl_203" style="word-spacing:-0.0367em;">Group Management's remuneration and share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.0159em;top:8.0481em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.894em;top:9.235em;"><span class="stl_263 stl_08 stl_239">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7709em;top:9.985em;"><span class="stl_263 stl_08 stl_276">members  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.0628em;top:10.735em;"><span class="stl_263 stl_08 stl_493">Executive  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.9915em;top:10.735em;"><span class="stl_263 stl_08 stl_340" style="word-spacing:-0.034em;">of Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7246em;top:11.485em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.9634em;top:11.485em;"><span class="stl_263 stl_08 stl_257" style="word-spacing:0.9176em;">Management Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9153em;top:11.485em;"><span class="stl_263 stl_08 stl_419">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.724em;top:13.1487em;"><span class="stl_267 stl_08 stl_607" style="word-spacing:-0.0539em;">Base salary  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0834em;top:13.1487em;"><span class="stl_267 stl_08 stl_843">7.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4671em;top:13.1487em;z-index:177;"><span class="stl_267 stl_08 stl_844">12.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1703em;top:13.1487em;"><span class="stl_267 stl_08 stl_729">19.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.724em;top:14.1587em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0412em;">Cash Bonus (STIP and employee benefit cost)</span><sup style="top: -0.2082em;"><span class="stl_281 stl_08 stl_401" style="word-spacing:-0.0706em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7278em;top:14.1587em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4522em;top:14.1587em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1766em;top:14.1587em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:15.1687em;"><span class="stl_267 stl_08 stl_428" style="word-spacing:-0.0473em;">One off bonus  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7278em;top:15.1687em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4522em;top:15.1687em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1766em;top:15.1687em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:16.1787em;"><span class="stl_267 stl_08 stl_228" style="word-spacing:-0.0386em;">Remuneration in connection with redundancy,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:17.0118em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0399em;">resignations and release from duty to work  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7278em;top:17.0118em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4522em;top:17.0118em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1766em;top:17.0118em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:18.0218em;"><span class="stl_267 stl_08 stl_165">Pension  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0197em;top:18.0218em;"><span class="stl_267 stl_08 stl_695">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7716em;top:18.0218em;"><span class="stl_267 stl_08 stl_21">1.5  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.5191em;top:18.0218em;"><span class="stl_267 stl_08 stl_797">1.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:19.0318em;"><span class="stl_267 stl_08 stl_522">Benefits  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0197em;top:19.0318em;"><span class="stl_267 stl_08 stl_695">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7635em;top:19.0318em;"><span class="stl_267 stl_08 stl_209">0.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4903em;top:19.0318em;"><span class="stl_267 stl_08 stl_419">1.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:20.0418em;"><span class="stl_267 stl_08 stl_259" style="word-spacing:-0.0436em;">Share-based incentives</span><sup style="top: -0.2094em;"><span class="stl_281 stl_08 stl_846" style="word-spacing:-0.0748em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0443em;top:20.0405em;"><span class="stl_267 stl_08 stl_85">0.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7374em;top:20.0405em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4887em;top:20.0405em;"><span class="stl_267 stl_08 stl_209">0.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:21.0505em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0328em;">Group Management total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0643em;top:21.0505em;"><span class="stl_274 stl_08 stl_845">9.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3818em;top:21.0505em;"><span class="stl_274 stl_08 stl_168">14.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.0555em;top:21.0505em;"><span class="stl_274 stl_08 stl_744">23.8  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.0176em;top:22.779em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8939em;top:23.9659em;"><span class="stl_263 stl_08 stl_239">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7708em;top:24.7159em;"><span class="stl_263 stl_08 stl_276">members  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.0626em;top:25.4659em;"><span class="stl_263 stl_08 stl_493">Executive  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.9914em;top:25.4659em;"><span class="stl_263 stl_08 stl_340" style="word-spacing:-0.034em;">of Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7245em;top:26.2159em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.9633em;top:26.2159em;"><span class="stl_263 stl_08 stl_257" style="word-spacing:0.9176em;">Management Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9151em;top:26.2159em;"><span class="stl_263 stl_08 stl_419">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7239em;top:27.8797em;"><span class="stl_267 stl_08 stl_607" style="word-spacing:-0.0539em;">Base salary  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0739em;top:27.8797em;z-index:503;"><span class="stl_267 stl_08 stl_272">7</span><span class="stl_267 stl_08 stl_521">.</span><span class="stl_267 stl_08 stl_521">4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4189em;top:27.8797em;"><span class="stl_267 stl_08 stl_694">13.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1514em;top:27.8797em;"><span class="stl_267 stl_08 stl_359">21.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7239em;top:28.8897em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0412em;">Cash Bonus (STIP and employee benefit cost)</span><sup style="top: -0.2082em;"><span class="stl_281 stl_08 stl_401" style="word-spacing:-0.0707em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0653em;top:28.8896em;z-index:553;"><span class="stl_267 stl_08 stl_713">4.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7897em;top:28.8896em;z-index:555;"><span class="stl_267 stl_08 stl_272">7</span><span class="stl_267 stl_08 stl_847">.</span><span class="stl_267 stl_08 stl_847">3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1835em;top:28.8896em;"><span class="stl_267 stl_08 stl_848">11.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:29.8996em;"><span class="stl_267 stl_08 stl_428" style="word-spacing:-0.0473em;">One off bonus  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0147em;top:29.8996em;"><span class="stl_267 stl_08 stl_349">3.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.746em;top:29.8996em;"><span class="stl_267 stl_08 stl_254">6.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4772em;top:29.8996em;"><span class="stl_267 stl_08 stl_275">9.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7234em;top:30.9096em;"><span class="stl_267 stl_08 stl_228" style="word-spacing:-0.0386em;">Remuneration in connection with redundancy,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7234em;top:31.7428em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0399em;">resignations and release from duty to work  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7272em;top:31.7428em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4678em;top:31.7428em;"><span class="stl_267 stl_08 stl_849">11.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1922em;top:31.7428em;"><span class="stl_267 stl_08 stl_849">11.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:32.7528em;"><span class="stl_267 stl_08 stl_165">Pension  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0197em;top:32.7528em;"><span class="stl_267 stl_08 stl_695">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7841em;top:32.7528em;"><span class="stl_267 stl_08 stl_682">1.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4747em;top:32.7528em;"><span class="stl_267 stl_08 stl_248">2.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:33.7628em;"><span class="stl_267 stl_08 stl_278">Benefits  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0197em;top:33.7628em;"><span class="stl_267 stl_08 stl_695">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.766em;top:33.7628em;"><span class="stl_267 stl_08 stl_419">1.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.5235em;top:33.7628em;"><span class="stl_267 stl_08 stl_770">1.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:34.7728em;"><span class="stl_267 stl_08 stl_259" style="word-spacing:-0.0436em;">Share-based incentives</span><sup style="top: -0.2094em;"><span class="stl_281 stl_08 stl_846" style="word-spacing:-0.0748em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.728em;top:34.7715em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7355em;top:34.7715em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4599em;top:34.7715em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:35.7815em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0328em;">Group Management total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.6643em;top:35.7815em;"><span class="stl_274 stl_08 stl_33">15.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4037em;top:35.7815em;"><span class="stl_274 stl_08 stl_273">41.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1237em;top:35.7815em;"><span class="stl_274 stl_08 stl_375">57.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:37.2763em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_351" style="word-spacing:-0.05em;">ꢀEmployee benefit cost (contingent consideration agreement) related to the acquisition of Excellis Health Solutions. Following a decision  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.1968em;top:37.8598em;"><span class="stl_350 stl_08 stl_349" style="word-spacing:-0.0528em;">by the Danish Business Authority concerning accounting treatment of Employee benefit cost (earn-out payment) related to acquisitions,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.1968em;top:38.4433em;"><span class="stl_350 stl_08 stl_473" style="word-spacing:-0.0536em;">these payments are to be considered and expensed as salary.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:39.0263em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">2</span></sup><span class="stl_347 stl_08 stl_92" style="word-spacing:-0.0499em;">ꢀIncludes the annually recognized expense on granted share based and launch incentive programmes, which are not released.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:7.0661em;"><span class="stl_264 stl_08 stl_188" style="word-spacing:-0.0372em;">Short-term incentive program (STIP)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:7.8992em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0404em;">Group Management and certain other employees participate in a STIP program, which entitles each participant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:8.7323em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">to receive an annual performance-based cash bonus, linked to the achievement of a number of predefined  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.5655em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0417em;">functional and individual business targets. Performance is measured for each financial year and the cash-based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.3986em;z-index:1540;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.0331em;">incentives, if any, are paid after announcement of the annual report for the subsequent year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.0655em;"><span class="stl_264 stl_08 stl_186" style="word-spacing:-0.0318em;">Long-term incentive program (LTIP)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.8986em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0343em;">LTIP is designed to promote the collective performance of Group Management and Vice Presidents to align the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.7317em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">interests of executives and shareholders.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.2736em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">The program is based on revenue and earnings, before interest and tax compared to the targeted levels.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.1067em;"><span class="stl_202 stl_08 stl_34" style="word-spacing:-0.0323em;">Shares are recognised over the four-year vesting period.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.6486em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0362em;">NNIT's Board of Directors approves the financial targets for the coming year, ensuring that the short-term  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.4817em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">targets are aligned with NNIT's long-term targets and strategy.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.0236em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0382em;">The allocation under LTIP for the CEO cannot exceed twelve months base salary, and the allocation for the CFO  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.8567em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0362em;">cannot exceed nine months base salary. The allocation for the other members of Group Management cannot  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:21.6898em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0373em;">exceed nine moths base salary.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.2317em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0352em;">The shares allocated to the members of Group Management that are fully vested, will be released to the indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:24.0648em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.038em;">vidual participants subsequent to the approval of the Annual Report 2024 by the Board of Directors.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:25.6067em;"><span class="stl_202 stl_08 stl_73" style="word-spacing:-0.0325em;">Based on the share price at the end of 2024, the value of the released shares is as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.6595em;top:27.0325em;"><span class="stl_263 stl_08 stl_266">Number  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.2764em;top:27.0325em;"><span class="stl_263 stl_08 stl_424">Market  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:27.7825em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.3933em;top:27.7825em;"><span class="stl_263 stl_08 stl_535" style="word-spacing:-0.0329em;">of shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7945em;top:27.7825em;"><span class="stl_263 stl_08 stl_120">value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:29.4462em;"><span class="stl_264 stl_08 stl_532" style="word-spacing:-0.0412em;">Values at December 31, 2024 of shares to be released February 20, 2025  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:30.4562em;"><span class="stl_267 stl_08 stl_387" style="word-spacing:-0.0343em;">Pär Fors</span><sup style="top: -0.2082em;"><span class="stl_281 stl_08 stl_476" style="word-spacing:-0.0588em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5462em;top:30.4562em;"><span class="stl_267 stl_08 stl_198">1,942  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4775em;top:30.4562em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:31.4662em;"><span class="stl_267 stl_08 stl_270" style="word-spacing:-0.0442em;">Carsten Ringius  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.94em;top:31.4662em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1919em;top:31.4662em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:32.4762em;"><span class="stl_264 stl_08 stl_249" style="word-spacing:-0.0345em;">Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4644em;top:32.4762em;"><span class="stl_274 stl_08 stl_299">1,942  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4544em;top:32.4762em;"><span class="stl_274 stl_08 stl_310">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:33.7862em;"><span class="stl_264 stl_08 stl_534" style="word-spacing:-0.0359em;">Other members of Group Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5031em;top:33.7862em;"><span class="stl_274 stl_08 stl_174">1,765  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4544em;top:33.7862em;"><span class="stl_274 stl_08 stl_310">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:35.0962em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0328em;">Group Management total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4762em;top:35.0962em;"><span class="stl_274 stl_08 stl_270">3,707  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4625em;top:35.0962em;"><span class="stl_274 stl_08 stl_710">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:36.5901em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_591" style="word-spacing:-0.0557em;">ꢀWill be settled in cash.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:38.1231em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0375em;">Please refer to note 5.1 for an overview of outstanding RSU’s.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.0111em;"><span class="stl_527 stl_08 stl_113" style="word-spacing:-0.0002em;">2.4 Amortization, depreciation and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.3315em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:17.3315em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:17.3315em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.9953em;"><span class="stl_267 stl_08 stl_90">Amortization  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:18.9953em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:18.9953em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.0053em;"><span class="stl_267 stl_08 stl_236">Depreciation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9125em;top:20.0053em;"><span class="stl_267 stl_08 stl_460">46  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6482em;top:20.0053em;"><span class="stl_267 stl_08 stl_351">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.0153em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0329em;">Total amortization, depreciation, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9238em;top:21.0153em;"><span class="stl_274 stl_08 stl_520">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.64em;top:21.0153em;"><span class="stl_274 stl_08 stl_707">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.0253em;"><span class="stl_267 stl_08 stl_321" style="word-spacing:-0.0394em;">Total amortization, depreciation, and impairment losses,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8584em;"><span class="stl_267 stl_08 stl_203" style="word-spacing:-0.0371em;">discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:22.8584em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:22.8584em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.8684em;"><span class="stl_264 stl_08 stl_387" style="word-spacing:-0.0335em;">Total amortization, depreciation, and impairment losses,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.7015em;"><span class="stl_264 stl_08 stl_424" style="word-spacing:-0.0309em;">continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9238em;top:24.7015em;"><span class="stl_274 stl_08 stl_520">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6369em;top:24.7015em;"><span class="stl_274 stl_08 stl_851">28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.3065em;"><span class="stl_264 stl_08 stl_237" style="word-spacing:-0.0357em;">Amortization, depreciation and impairment losses are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.1397em;"><span class="stl_264 stl_08 stl_266" style="word-spacing:-0.0354em;">recognized in the income statement:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.1497em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.98em;top:28.1497em;"><span class="stl_267 stl_08 stl_810">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:28.1497em;"><span class="stl_267 stl_08 stl_19">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.1597em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0412em;">Sales and marketing costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:29.1597em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:29.1597em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.1697em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0426em;">Administrative expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9238em;top:30.1697em;"><span class="stl_267 stl_08 stl_351">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6557em;top:30.1697em;"><span class="stl_267 stl_08 stl_116">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:31.1797em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2969em;top:31.1797em;"><span class="stl_267 stl_08 stl_19">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1775em;top:31.1797em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:32.1897em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0329em;">Total amortization, depreciation, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9244em;top:32.1897em;"><span class="stl_274 stl_08 stl_520">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6375em;top:32.1897em;"><span class="stl_274 stl_08 stl_851">28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:5.658em;"><span class="stl_527 stl_08 stl_233" style="word-spacing:0.0234em;">2.5 Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:6.9785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:6.9785em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:6.9785em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:8.6423em;"><span class="stl_264 stl_08 stl_249" style="word-spacing:-0.0342em;">Special items relates to:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.6523em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0411em;">Gain/loss from subleases  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.312em;top:9.6523em;"><span class="stl_267 stl_08 stl_19">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5177em;top:9.6523em;"><span class="stl_267 stl_08 stl_301">(15)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.6623em;"><span class="stl_267 stl_08 stl_231" style="word-spacing:-0.0368em;">Employee benefit cost (contingent consideration agreement)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9514em;top:10.6623em;"><span class="stl_267 stl_08 stl_366">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6708em;top:10.6623em;"><span class="stl_267 stl_08 stl_116">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.6723em;"><span class="stl_267 stl_08 stl_239" style="word-spacing:-0.0488em;">Restructuring cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.937em;top:11.6723em;"><span class="stl_267 stl_08 stl_516">50  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6789em;top:11.6723em;"><span class="stl_267 stl_08 stl_192">31  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.6823em;"><span class="stl_267 stl_08 stl_403">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.312em;top:12.6823em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1927em;top:12.6823em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.6923em;"><span class="stl_267 stl_08 stl_534" style="word-spacing:-0.0365em;">Cost regarding acquisition and disposal of operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7433em;top:13.6923em;"><span class="stl_267 stl_08 stl_181">(20)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3277em;top:13.6923em;"><span class="stl_267 stl_08 stl_377">103  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:14.7023em;"><span class="stl_264 stl_08 stl_132" style="word-spacing:-0.0279em;">Total special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9383em;top:14.7023em;"><span class="stl_274 stl_08 stl_734">69  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.317em;top:14.7023em;"><span class="stl_274 stl_08 stl_620">171  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:15.7123em;"><span class="stl_267 stl_08 stl_248" style="word-spacing:-0.0346em;">Total special items, discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4689em;top:15.7123em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3333em;top:15.7123em;"><span class="stl_267 stl_08 stl_397">102  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:16.7223em;"><span class="stl_264 stl_08 stl_179" style="word-spacing:-0.0301em;">Total special items, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9383em;top:16.7223em;"><span class="stl_274 stl_08 stl_734">69  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6627em;top:16.7223em;"><span class="stl_274 stl_08 stl_734">69  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:18.3273em;"><span class="stl_264 stl_08 stl_237" style="word-spacing:-0.0363em;">If special items had been recognized in operating profit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:19.1604em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.035em;">before special items, they would have been included in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:19.9935em;"><span class="stl_850 stl_08 stl_369" style="word-spacing:-0.0335em;">the following line items:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:21.0035em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">– Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3127em;top:21.0035em;"><span class="stl_267 stl_08 stl_19">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.037em;top:21.0035em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:22.0135em;"><span class="stl_267 stl_08 stl_91" style="word-spacing:-0.0423em;">– Administrative expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9433em;top:22.0135em;"><span class="stl_267 stl_08 stl_247">62  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6608em;top:22.0135em;"><span class="stl_267 stl_08 stl_734">66  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.0235em;"><span class="stl_264 stl_08 stl_132" style="word-spacing:-0.0279em;">Total special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9377em;top:23.0235em;"><span class="stl_274 stl_08 stl_734">69  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.662em;top:23.0235em;"><span class="stl_274 stl_08 stl_734">69  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_146" style="word-spacing:0.0232em;">2.3 Development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:6.9785em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:6.9785em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6423em;"><span class="stl_264 stl_08 stl_247" style="word-spacing:-0.0376em;">Costs for development of new projects, not eligible for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.4754em;"><span class="stl_264 stl_08 stl_492" style="word-spacing:-0.0333em;">recognition in the balance sheet are charged immediately  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3085em;"><span class="stl_264 stl_08 stl_255" style="word-spacing:-0.0363em;">to the income statement:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.3185em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:11.3185em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6838em;top:11.3185em;"><span class="stl_267 stl_08 stl_286">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.3285em;"><span class="stl_267 stl_08 stl_276" style="word-spacing:-0.0431em;">Special items, costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.94em;top:12.3285em;"><span class="stl_267 stl_08 stl_721">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:12.3285em;"><span class="stl_267 stl_08 stl_19">0</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.3385em;"><span class="stl_264 stl_08 stl_68" style="word-spacing:-0.0293em;">Total development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9094em;top:13.3385em;"><span class="stl_274 stl_08 stl_405">24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6675em;top:13.3385em;"><span class="stl_274 stl_08 stl_50">14  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:18.2728em;"><span class="stl_264 stl_08 stl_276">Costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:19.106em;"><span class="stl_610 stl_08 stl_245" style="word-spacing:-0.0353em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:19.9391em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0399em;">The cost of goods sold comprises costs paid in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:20.7722em;"><span class="stl_202 stl_08 stl_11" style="word-spacing:-0.0263em;">order to generate revenue for the year, including  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:21.6053em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.041em;">amortization and depreciation, share-based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:22.4385em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0385em;">compensation and salaries.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:24.1053em;"><span class="stl_610 stl_08 stl_230" style="word-spacing:-0.0407em;">Sales and marketing costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:24.9385em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0408em;">Sales and marketing costs comprise costs in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:25.7716em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0374em;">form of salaries and share-based compensation for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:26.6047em;"><span class="stl_202 stl_08 stl_89" style="word-spacing:-0.0452em;">sales and marketing staff, advertising costs, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:27.4378em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0396em;">amortization and depreciation.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:29.1047em;"><span class="stl_610 stl_08 stl_250" style="word-spacing:-0.0429em;">Administrative expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:29.9378em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0426em;">Administrative expenses comprise costs in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:30.771em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0374em;">form of share-based compensation and salaries for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:31.6041em;"><span class="stl_202 stl_08 stl_89" style="word-spacing:-0.0451em;">administrative staff and amortization and depreci-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:32.4372em;"><span class="stl_202 stl_08 stl_236">ation.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:34.1041em;"><span class="stl_610 stl_08 stl_492" style="word-spacing:-0.0337em;">Special Items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:34.9372em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">Special items comprise costs or income that cannot  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:35.7703em;"><span class="stl_202 stl_08 stl_658" style="word-spacing:-0.0454em;">be attributed directly to the Group’s ordinary activ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:36.6035em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">ities and are non-recurring of nature. Such costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:37.4366em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0364em;">and income include the cost related to significant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:38.2697em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">restructuring of the cost base and processes as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:39.1028em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">well as restructuring costs related to resignation of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0412em;">employees. Further special items include significant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_523" style="word-spacing:-0.0482em;">cost related to M&amp;A activities, earn-out payments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6378em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">related to acquisitions where earn-out is in part  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.471em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0349em;">subject to the selling shareholders' continued  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3041em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">employment during the accrual period, redun-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1372em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0352em;">dancy cost related to members of Group Manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.9703em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">ment, impairment of assets and gains and losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.8035em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0385em;">regarding disposal of activities or subsidiaries.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4703em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0338em;">Special items are shown separately in the Group to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.3035em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0385em;">give a true and fair presentation of the Group’s ordi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1366em;"><span class="stl_202 stl_08 stl_89" style="word-spacing:-0.0452em;">nary operations.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.5943em;"><span class="stl_264 stl_08 stl_243" style="word-spacing:-0.0391em;">Segment Reporting  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.4274em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">Segment performance is evaluated on the basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.2606em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0385em;">of the operating profit consistent with the consoli-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.0937em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0427em;">dated financial statements.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.7606em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">Operating segments are reported in a manner  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.5937em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0375em;">consistent with the internal reporting provided to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.4268em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0352em;">Group Management and the Board of Directors.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.5943em;"><span class="stl_264 stl_08 stl_243" style="word-spacing:-0.0391em;">Segment Reporting  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.4274em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">Segment performance is evaluated on the basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.2606em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0385em;">of the operating profit consistent with the consoli-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.0937em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0427em;">dated financial statements.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.7606em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">Operating segments are reported in a manner  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.5937em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0375em;">consistent with the internal reporting provided to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.4268em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0352em;">Group Management and the Board of Directors.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.7919em;z-index:22;"><span class="stl_527 stl_08 stl_405">2</span><span class="stl_527 stl_08 stl_836">.</span><span class="stl_527 stl_08 stl_217" style="word-spacing:0.1893em;">1 Segment</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:9.674em;top:9.7919em;z-index:22;"><span class="stl_527 stl_08 stl_312">information  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.2313em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">Following the implementation of the new organization on May 2, 2023, NNIT consists of four regions, which  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.0644em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">individually can be considered an operating segment:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6063em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:13.6063em;"><span class="stl_202 stl_08 stl_165" style="word-spacing:-0.0301em;">Region Denmark (excluding life sciences)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4394em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:14.4394em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0332em;">Region Europe (including life sciences in Denmark)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.2725em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:15.2725em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0332em;">Region US  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1057em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:16.1057em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0436em;">Region Asia  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.7725em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0366em;">The new regional structure has been introduced to increase customer proximity and enhance global coordina-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6057em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">tion across regions. From a financial perspective, the four regional P&amp;Ls include allocated corporate cost such  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4388em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">as legal, human resources, finance and global delivery centers. A consolidation of the four regional P&amp;Ls consti-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.2719em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0372em;">tute NNIT’s group P&amp;L and is supplemented by management commentary to provide increased transparency in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.105em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0396em;">respect of financial and business performance for each region.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.6469em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0407em;">The operating segments reflect the internal reporting that is reviewed by the “Chief Operating Decision makers”  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.48em;"><span class="stl_202 stl_08 stl_212" style="word-spacing:-0.0382em;">consisting of the Executive Management and the Board of Directors. The internal reporting includes communica-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.3132em;"><span class="stl_202 stl_08 stl_67" style="word-spacing:-0.0396em;">tion of revenue, costs and operating results for each of the operating segments. No reporting is made on assets.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.855em;"><span class="stl_202 stl_08 stl_132" style="word-spacing:-0.0276em;">Region Denmark generated 46% of the revenue in the year ended December 31, 2024 (2023: 42%), Region  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.6882em;"><span class="stl_202 stl_08 stl_174" style="word-spacing:-0.0235em;">Europe generated 28% of the revenue (2023: 27%) and Region US generated 19% in 2024 (2023: 22%) based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.5213em;z-index:1185;"><span class="stl_202 stl_08 stl_227" style="word-spacing:-0.0319em;">the location of the customer.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.0632em;"><span class="stl_202 stl_08 stl_174" style="word-spacing:-0.0235em;">The Novo Nordisk Group generated 12% of the revenue in the year ended December 31, 2024 (2023: 10%),  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.8963em;"><span class="stl_202 stl_08 stl_114" style="word-spacing:-0.0219em;">whereof 44% relates to Region Europe (2023: 41%), 27% relates to Region Asia (2023: 31%) and 27% relates to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.7294em;"><span class="stl_202 stl_08 stl_113" style="word-spacing:-0.0252em;">Region Denmark (2023: 26%).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.2713em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0346em;">For depreciations and amortizations 40% relates to Region Denmark (2023: 48%), 29% relates to Region Europe  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.1044em;"><span class="stl_202 stl_08 stl_31" style="word-spacing:-0.0211em;">(2023: 32%), 18% relates to Region US (2023: 20%) and 13% relates to Region Asia (2023: 0%).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.6463em;"><span class="stl_202 stl_08 stl_212" style="word-spacing:-0.0283em;">38% of tangible assets relates to Region Denmark (2023: 65%), 28% relates to Region Europe (2023: 26%), 33%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:35.4794em;"><span class="stl_202 stl_08 stl_217" style="word-spacing:-0.0259em;">relates to Region Asia (2023: 8%) and 1% relates to region US (2023: 1%). For intangible assets 55% relates to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.3125em;"><span class="stl_202 stl_08 stl_132" style="word-spacing:-0.0277em;">Denmark (2023: Region Denmark 56%) and 45% relates to US (2023: Region US 44%).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.2089em;top:10.7748em;"><span class="stl_264 stl_08 stl_535">Region  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.4608em;top:10.7748em;"><span class="stl_264 stl_08 stl_535">Region  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.7127em;top:10.7748em;"><span class="stl_264 stl_08 stl_535">Region  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.9645em;top:10.7748em;"><span class="stl_264 stl_08 stl_535">Region  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.5248em;"><span class="stl_264 stl_08 stl_249" style="word-spacing:-0.0348em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:50.4183em;top:11.5248em;"><span class="stl_264 stl_08 stl_34">Denmark  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.387em;top:11.5248em;"><span class="stl_264 stl_08 stl_531">Europe  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.5295em;top:11.5248em;"><span class="stl_264 stl_08 stl_512">Asia  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3102em;top:11.5248em;"><span class="stl_264 stl_08 stl_303">US  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7958em;top:11.5248em;"><span class="stl_264 stl_08 stl_157">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:13.1535em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:14.3335em;"><span class="stl_267 stl_08 stl_266">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2464em;top:14.3335em;"><span class="stl_267 stl_08 stl_809">844  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.6158em;top:14.3335em;"><span class="stl_267 stl_08 stl_816">512  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.8327em;top:14.3335em;"><span class="stl_267 stl_08 stl_341">149  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.0158em;top:14.3335em;"><span class="stl_267 stl_08 stl_460">346  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8139em;top:14.3335em;"><span class="stl_267 stl_08 stl_539">1,851  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:15.2485em;"><span class="stl_267 stl_08 stl_268" style="word-spacing:-0.0439em;">Production cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.3239em;top:15.2485em;"><span class="stl_267 stl_08 stl_397">651  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.5527em;top:15.2485em;"><span class="stl_267 stl_08 stl_135">391  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.8252em;top:15.2485em;"><span class="stl_267 stl_08 stl_185">123  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.0552em;top:15.2485em;"><span class="stl_267 stl_08 stl_208">207  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7758em;top:15.2485em;"><span class="stl_267 stl_08 stl_27">1,372  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.4285em;"><span class="stl_264 stl_08 stl_305" style="word-spacing:-0.0422em;">Gross profit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.3002em;top:16.4285em;"><span class="stl_274 stl_08 stl_170">193  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.5608em;top:16.4285em;"><span class="stl_274 stl_08 stl_366">121  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.1558em;top:16.4285em;"><span class="stl_274 stl_08 stl_289">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.0545em;top:16.4285em;"><span class="stl_274 stl_08 stl_164">139  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2914em;top:16.4285em;"><span class="stl_274 stl_08 stl_204">479  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:17.3435em;"><span class="stl_807 stl_08 stl_253" style="word-spacing:-0.0384em;">Gross profit Margin  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.6589em;top:17.3435em;"><span class="stl_807 stl_08 stl_215">22.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.9195em;top:17.3435em;"><span class="stl_807 stl_08 stl_148">23.6%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.2371em;top:17.3435em;"><span class="stl_807 stl_08 stl_641">17.2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3964em;top:17.3435em;"><span class="stl_807 stl_08 stl_332">40.0%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6589em;top:17.3435em;"><span class="stl_807 stl_08 stl_320">25.8%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:18.5235em;"><span class="stl_264 stl_08 stl_245" style="word-spacing:-0.0349em;">Regional operating profit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.3239em;top:18.5235em;"><span class="stl_274 stl_08 stl_185">151  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.9089em;top:18.5235em;"><span class="stl_274 stl_08 stl_520">67  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.5339em;top:18.5235em;"><span class="stl_274 stl_08 stl_19">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4021em;top:18.5235em;"><span class="stl_274 stl_08 stl_460">73  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2733em;top:18.5235em;"><span class="stl_274 stl_08 stl_838">299  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:19.4385em;"><span class="stl_807 stl_08 stl_234" style="word-spacing:-0.0373em;">Regional operating profit margin  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.7446em;top:19.4385em;"><span class="stl_807 stl_08 stl_141">17.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.9433em;top:19.4385em;"><span class="stl_807 stl_08 stl_302">13.0%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.6771em;top:19.4385em;"><span class="stl_807 stl_08 stl_90">5.2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4502em;top:19.4385em;"><span class="stl_807 stl_08 stl_97">21.2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6789em;top:19.4385em;"><span class="stl_807 stl_08 stl_112">16.2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:20.6185em;"><span class="stl_264 stl_08 stl_231" style="word-spacing:-0.0368em;">Group operating profit</span><sup style="top: -0.2086em;"><span class="stl_837 stl_08 stl_736" style="word-spacing:-0.0632em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6444em;top:20.6181em;"><span class="stl_274 stl_08 stl_471">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.9232em;top:20.6181em;"><span class="stl_274 stl_08 stl_468">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.3019em;top:20.6181em;"><span class="stl_274 stl_08 stl_165">(6)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4069em;top:20.6181em;"><span class="stl_274 stl_08 stl_307">39  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3438em;top:20.6181em;"><span class="stl_274 stl_08 stl_64">117  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:21.5331em;"><span class="stl_807 stl_08 stl_226" style="word-spacing:-0.0355em;">Group operating profit margin  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.0756em;top:21.5331em;z-index:2183;"><span class="stl_807 stl_08 stl_707">8</span><span class="stl_807 stl_08 stl_839">.</span><span class="stl_807 stl_08 stl_288">1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.3344em;top:21.5331em;"><span class="stl_807 stl_08 stl_840">3.1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.3181em;top:21.5331em;"><span class="stl_807 stl_08 stl_211">(4.0)%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4819em;top:21.5331em;"><span class="stl_807 stl_08 stl_688">11.3%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.0006em;top:21.5331em;"><span class="stl_807 stl_08 stl_344">6.3%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7394em;top:22.9724em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7394em;top:24.1524em;"><span class="stl_267 stl_08 stl_266">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2825em;top:24.1524em;"><span class="stl_267 stl_08 stl_523">732  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.5269em;top:24.1524em;"><span class="stl_267 stl_08 stl_734">465  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.7994em;top:24.1524em;"><span class="stl_267 stl_08 stl_286">1</span><span class="stl_267 stl_08 stl_287">4</span><span class="stl_267 stl_08 stl_287">4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.0394em;top:24.1524em;"><span class="stl_267 stl_08 stl_528">387  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8013em;top:24.1524em;"><span class="stl_267 stl_08 stl_157">1,728  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7394em;top:25.0674em;"><span class="stl_267 stl_08 stl_268" style="word-spacing:-0.0439em;">Production cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2788em;top:25.0674em;"><span class="stl_267 stl_08 stl_518">566  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.53em;top:25.0674em;"><span class="stl_267 stl_08 stl_516">330  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.835em;top:25.0674em;"><span class="stl_267 stl_08 stl_841">135  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.0457em;top:25.0674em;"><span class="stl_267 stl_08 stl_203">252  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7725em;top:25.0674em;"><span class="stl_267 stl_08 stl_163">1,283  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:26.2474em;"><span class="stl_264 stl_08 stl_305" style="word-spacing:-0.0422em;">Gross profit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2863em;top:26.2474em;"><span class="stl_274 stl_08 stl_528">166  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.5494em;top:26.2474em;"><span class="stl_274 stl_08 stl_58">135  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.5325em;top:26.2474em;"><span class="stl_274 stl_08 stl_19">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.0531em;top:26.2474em;"><span class="stl_274 stl_08 stl_58">135  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2556em;top:26.2474em;"><span class="stl_274 stl_08 stl_458">445  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7394em;top:27.1624em;"><span class="stl_807 stl_08 stl_253" style="word-spacing:-0.0384em;">Gross profit Margin  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.6769em;top:27.1624em;"><span class="stl_807 stl_08 stl_127">22.7%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.9125em;top:27.1624em;"><span class="stl_807 stl_08 stl_165">29.0%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.4963em;top:27.1624em;"><span class="stl_807 stl_08 stl_344">6.3%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3906em;top:27.1624em;"><span class="stl_807 stl_08 stl_351">34.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6569em;top:27.1624em;"><span class="stl_807 stl_08 stl_320">25.8%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7388em;top:28.5143em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0348em;">Regional operating profit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2938em;top:28.5143em;"><span class="stl_274 stl_08 stl_233">133  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.9031em;top:28.5143em;"><span class="stl_274 stl_08 stl_602">78  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.3125em;top:28.5143em;"><span class="stl_274 stl_08 stl_620">(4)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4013em;top:28.5143em;"><span class="stl_274 stl_08 stl_577">80  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2713em;top:28.5143em;"><span class="stl_274 stl_08 stl_594">287  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7388em;top:29.4293em;"><span class="stl_807 stl_08 stl_234" style="word-spacing:-0.0373em;">Regional operating profit margin  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.6694em;top:29.4293em;"><span class="stl_807 stl_08 stl_112">18.2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.9263em;top:29.4293em;"><span class="stl_807 stl_08 stl_53">16.8%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.31em;top:29.4293em;"><span class="stl_807 stl_08 stl_226">(2.8)%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4325em;top:29.4293em;"><span class="stl_807 stl_08 stl_33">20.7%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7025em;top:29.4293em;"><span class="stl_807 stl_08 stl_107">16.6%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7394em;top:30.6093em;"><span class="stl_264 stl_08 stl_203" style="word-spacing:-0.0371em;">Group operating profit</span><sup style="top: -0.2075em;"><span class="stl_837 stl_08 stl_543" style="word-spacing:-0.0636em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6455em;top:30.6099em;"><span class="stl_274 stl_08 stl_460">60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.9042em;top:30.6099em;"><span class="stl_274 stl_08 stl_602">32  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.963em;top:30.6099em;"><span class="stl_274 stl_08 stl_378">(18)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.403em;top:30.6099em;"><span class="stl_274 stl_08 stl_594">42  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3373em;top:30.6099em;"><span class="stl_274 stl_08 stl_728">116  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7398em;top:31.5249em;"><span class="stl_807 stl_08 stl_226" style="word-spacing:-0.0356em;">Group operating profit margin  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.9898em;top:31.5249em;"><span class="stl_807 stl_08 stl_442">8.2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.2567em;top:31.5249em;"><span class="stl_807 stl_08 stl_256">6.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.0142em;top:31.5249em;"><span class="stl_807 stl_08 stl_468">(12.5)%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.438em;top:31.5249em;"><span class="stl_807 stl_08 stl_162">10.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.0323em;top:31.5249em;"><span class="stl_807 stl_08 stl_135">6.7%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:32.9611em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_520" style="word-spacing:-0.0522em;">ꢀWhen deducting speciel items and net financials consolidated profit before income taxes is obtained.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:29.1047em;"><span class="stl_610 stl_08 stl_250" style="word-spacing:-0.0429em;">Administrative expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:29.9378em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0426em;">Administrative expenses comprise costs in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:30.771em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0374em;">form of share-based compensation and salaries for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:31.6041em;"><span class="stl_202 stl_08 stl_89" style="word-spacing:-0.0451em;">administrative staff and amortization and depreci-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:32.4372em;"><span class="stl_202 stl_08 stl_236">ation.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_269" style="word-spacing:0.0238em;">2.2 Employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:6.9785em;"><span class="stl_264 stl_08 stl_214">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:6.9785em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6423em;"><span class="stl_264 stl_08 stl_266" style="word-spacing:-0.0355em;">Employee costs comprise:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.6523em;"><span class="stl_267 stl_08 stl_411" style="word-spacing:-0.0345em;">Wages and salaries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.0332em;top:9.6523em;"><span class="stl_267 stl_08 stl_163">1,090  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7482em;top:9.6523em;"><span class="stl_267 stl_08 stl_266">1,383  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.6623em;"><span class="stl_267 stl_08 stl_509" style="word-spacing:-0.0462em;">Share-based payments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:10.6623em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:10.6623em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.6723em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.038em;">Pensions – defined contribution plans  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9425em;top:11.6723em;"><span class="stl_267 stl_08 stl_57">76  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6613em;top:11.6723em;"><span class="stl_267 stl_08 stl_302">91  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.6823em;"><span class="stl_267 stl_08 stl_529" style="word-spacing:-0.037em;">Pensions – defined benefit obligations (note 3.7)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:12.6823em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:12.6823em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6923em;"><span class="stl_267 stl_08 stl_695" style="word-spacing:-0.0441em;">Other employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9225em;top:13.6923em;"><span class="stl_267 stl_08 stl_518">98  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3238em;top:13.6923em;"><span class="stl_267 stl_08 stl_841">132  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.7023em;"><span class="stl_264 stl_08 stl_27" style="word-spacing:-0.028em;">Total employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9825em;top:14.7023em;"><span class="stl_274 stl_08 stl_399">1,271  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7788em;top:14.7023em;"><span class="stl_274 stl_08 stl_109">1,611  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.3073em;"><span class="stl_267 stl_08 stl_203" style="word-spacing:-0.0365em;">Total employee costs, discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:16.3073em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2794em;top:16.3073em;"><span class="stl_267 stl_08 stl_581">347  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.3173em;"><span class="stl_264 stl_08 stl_179" style="word-spacing:-0.0304em;">Total employee costs, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9825em;top:17.3173em;"><span class="stl_274 stl_08 stl_399">1,271  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6888em;top:17.3173em;"><span class="stl_274 stl_08 stl_654">1,264  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.9223em;"><span class="stl_267 stl_08 stl_91" style="word-spacing:-0.0419em;">Capitalized under IT development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7244em;top:18.9223em;"><span class="stl_267 stl_08 stl_146">(40)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.8175em;top:18.9223em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9788em;top:19.9323em;"><span class="stl_274 stl_08 stl_473">1,231  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7294em;top:19.9323em;"><span class="stl_274 stl_08 stl_215">1,261  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.5373em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0351em;">Included in the income statement under the following headings:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.5473em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5657em;top:22.5473em;"><span class="stl_267 stl_08 stl_143">928  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2782em;top:22.5473em;"><span class="stl_267 stl_08 stl_268">977  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.5573em;"><span class="stl_267 stl_08 stl_230" style="word-spacing:-0.0408em;">Sales and marketing costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9182em;top:23.5573em;"><span class="stl_267 stl_08 stl_289">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6475em;top:23.5573em;"><span class="stl_267 stl_08 stl_351">56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.5673em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0426em;">Administrative expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5819em;top:24.5673em;"><span class="stl_267 stl_08 stl_84">188  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3063em;top:24.5673em;"><span class="stl_267 stl_08 stl_379">160  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.5773em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9388em;top:25.5773em;"><span class="stl_267 stl_08 stl_192">47  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6425em;top:25.5773em;"><span class="stl_267 stl_08 stl_289">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.5873em;"><span class="stl_264 stl_08 stl_27" style="word-spacing:-0.028em;">Total employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9788em;top:26.5873em;"><span class="stl_274 stl_08 stl_473">1,231  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7294em;top:26.5873em;"><span class="stl_274 stl_08 stl_215">1,261  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.1923em;"><span class="stl_267 stl_08 stl_228" style="word-spacing:-0.038em;">Average number of full-time employees, total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.06em;top:28.1923em;"><span class="stl_267 stl_08 stl_196">1,704  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8319em;top:28.1923em;"><span class="stl_267 stl_08 stl_295">1,974  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.2023em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0365em;">Average number of full-time employees, continuing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.06em;top:29.2023em;"><span class="stl_267 stl_08 stl_196">1,704  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7757em;top:29.2023em;"><span class="stl_267 stl_08 stl_296">1,773  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.0111em;"><span class="stl_527 stl_08 stl_113" style="word-spacing:-0.0002em;">2.4 Amortization, depreciation and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.3315em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:17.3315em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:17.3315em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.9953em;"><span class="stl_267 stl_08 stl_90">Amortization  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:18.9953em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:18.9953em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.0053em;"><span class="stl_267 stl_08 stl_236">Depreciation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9125em;top:20.0053em;"><span class="stl_267 stl_08 stl_460">46  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6482em;top:20.0053em;"><span class="stl_267 stl_08 stl_351">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.0153em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0329em;">Total amortization, depreciation, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9238em;top:21.0153em;"><span class="stl_274 stl_08 stl_520">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.64em;top:21.0153em;"><span class="stl_274 stl_08 stl_707">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.0253em;"><span class="stl_267 stl_08 stl_321" style="word-spacing:-0.0394em;">Total amortization, depreciation, and impairment losses,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8584em;"><span class="stl_267 stl_08 stl_203" style="word-spacing:-0.0371em;">discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:22.8584em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:22.8584em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.8684em;"><span class="stl_264 stl_08 stl_387" style="word-spacing:-0.0335em;">Total amortization, depreciation, and impairment losses,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.7015em;"><span class="stl_264 stl_08 stl_424" style="word-spacing:-0.0309em;">continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9238em;top:24.7015em;"><span class="stl_274 stl_08 stl_520">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6369em;top:24.7015em;"><span class="stl_274 stl_08 stl_851">28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.3065em;"><span class="stl_264 stl_08 stl_237" style="word-spacing:-0.0357em;">Amortization, depreciation and impairment losses are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.1397em;"><span class="stl_264 stl_08 stl_266" style="word-spacing:-0.0354em;">recognized in the income statement:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.1497em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.98em;top:28.1497em;"><span class="stl_267 stl_08 stl_810">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:28.1497em;"><span class="stl_267 stl_08 stl_19">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.1597em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0412em;">Sales and marketing costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:29.1597em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:29.1597em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.1697em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0426em;">Administrative expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9238em;top:30.1697em;"><span class="stl_267 stl_08 stl_351">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6557em;top:30.1697em;"><span class="stl_267 stl_08 stl_116">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:31.1797em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2969em;top:31.1797em;"><span class="stl_267 stl_08 stl_19">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1775em;top:31.1797em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:32.1897em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0329em;">Total amortization, depreciation, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9244em;top:32.1897em;"><span class="stl_274 stl_08 stl_520">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6375em;top:32.1897em;"><span class="stl_274 stl_08 stl_851">28  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8024em;"><span class="stl_264 stl_08 stl_227" style="word-spacing:-0.0319em;">Continuing and Discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.6356em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0342em;">Separation of operations into continuing and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.4687em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0404em;">discontinued operations is based on an identifica-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:35.3018em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0403em;">tion of contracts and revenues, direct employees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.1349em;"><span class="stl_202 stl_08 stl_235" style="word-spacing:-0.0414em;">and costs as well as identification of time spend  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.9681em;z-index:3549;"><span class="stl_202 stl_08 stl_186" style="word-spacing:-0.0318em;">by employees in one category related to the other.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:37.8012em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">Shared costs are split based on allocation between  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:38.6343em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0406em;">the two categories based on estimates future split.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.0924em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0363em;">An impairment loss is recognised for any initial or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.9255em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0398em;">subsequent write-down of the asset to fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:8.7587em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">less costs to sell. A gain is recognised for any subse-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.5918em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">quent increases in fair value previously recognised.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.4249em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0362em;">A gain or loss not previously recognised by the date  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.2581em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0384em;">of the sale of the non-current asset is recognised at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.0912em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.033em;">the date of derecognition.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.1285em;"><span class="stl_264 stl_08 stl_270" style="word-spacing:-0.0446em;">Assets classified as held for sale  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.9616em;"><span class="stl_202 stl_08 stl_514" style="word-spacing:-0.0468em;">Assets classified as held for sale comprise assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.7947em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">and liabilities for which it is highly likely that the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.6278em;"><span class="stl_202 stl_08 stl_423" style="word-spacing:-0.0311em;">value will be recovered through a sale within 12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.461em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0408em;">months rather than through continued use. Assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.2941em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">and liabilities classified as held for sale are meas-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.1272em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">ured at the lower of the carrying amount and fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.9603em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">value less cost to sell at the classification date as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:17.7935em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">“held for sale”. Assets held for sale are not depre-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:18.6266em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0423em;">ciated. Impairment losses arising on first classifi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:19.4597em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0403em;">cation as “held for sale” and gains and losses from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.2928em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0331em;">the subsequent measurement is recognized in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:21.126em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0368em;">income statement under the items they concern.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8024em;"><span class="stl_264 stl_08 stl_227" style="word-spacing:-0.0319em;">Continuing and Discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.6356em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0342em;">Separation of operations into continuing and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.4687em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0404em;">discontinued operations is based on an identifica-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:35.3018em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0403em;">tion of contracts and revenues, direct employees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.1349em;"><span class="stl_202 stl_08 stl_235" style="word-spacing:-0.0414em;">and costs as well as identification of time spend  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.9681em;z-index:3549;"><span class="stl_202 stl_08 stl_186" style="word-spacing:-0.0318em;">by employees in one category related to the other.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:37.8012em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">Shared costs are split based on allocation between  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:38.6343em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0406em;">the two categories based on estimates future split.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.0924em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0363em;">An impairment loss is recognised for any initial or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.9255em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0398em;">subsequent write-down of the asset to fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:8.7587em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">less costs to sell. A gain is recognised for any subse-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.5918em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">quent increases in fair value previously recognised.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.4249em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0362em;">A gain or loss not previously recognised by the date  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.2581em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0384em;">of the sale of the non-current asset is recognised at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.0912em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.033em;">the date of derecognition.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.1285em;"><span class="stl_264 stl_08 stl_270" style="word-spacing:-0.0446em;">Assets classified as held for sale  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.9616em;"><span class="stl_202 stl_08 stl_514" style="word-spacing:-0.0468em;">Assets classified as held for sale comprise assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.7947em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">and liabilities for which it is highly likely that the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.6278em;"><span class="stl_202 stl_08 stl_423" style="word-spacing:-0.0311em;">value will be recovered through a sale within 12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.461em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0408em;">months rather than through continued use. Assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.2941em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">and liabilities classified as held for sale are meas-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.1272em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">ured at the lower of the carrying amount and fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.9603em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">value less cost to sell at the classification date as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:17.7935em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">“held for sale”. Assets held for sale are not depre-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:18.6266em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0423em;">ciated. Impairment losses arising on first classifi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:19.4597em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0403em;">cation as “held for sale” and gains and losses from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.2928em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0331em;">the subsequent measurement is recognized in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:21.126em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0368em;">income statement under the items they concern.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_170" style="word-spacing:0.445em;">3.9 Discontinued</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:11.612em;top:5.658em;"><span class="stl_527 stl_08 stl_176">operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0374em;">June 22, 2022 it was announced that NNIT was divesting the infrastructure operations and in December 2022  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.9305em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0349em;">and December 2023 it qualified for recognition as Discontinuing operations according to IFRS 5.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.4785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:9.4785em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:9.4785em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.5573em;"><span class="stl_264 stl_08 stl_164">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:11.5573em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2538em;top:11.5573em;"><span class="stl_274 stl_08 stl_300">504  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.5673em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:12.5673em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.265em;top:12.5673em;"><span class="stl_267 stl_08 stl_602">405  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.5773em;"><span class="stl_264 stl_08 stl_305" style="word-spacing:-0.0422em;">Gross profit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:13.5773em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6369em;top:13.5773em;"><span class="stl_274 stl_08 stl_851">99  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.1823em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0412em;">Sales and marketing costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:15.1823em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6894em;top:15.1823em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:16.1923em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0426em;">Administrative expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4532em;top:16.1923em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6369em;top:16.1923em;"><span class="stl_267 stl_08 stl_459">54  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:17.2023em;"><span class="stl_264 stl_08 stl_234" style="word-spacing:-0.0375em;">Operating profit before special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4532em;top:17.2023em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6407em;top:17.2023em;"><span class="stl_274 stl_08 stl_750">30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:18.8073em;"><span class="stl_267 stl_08 stl_120" style="word-spacing:-0.0354em;">Gain from discontinuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4532em;top:18.8073em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6682em;top:18.8073em;"><span class="stl_267 stl_08 stl_57">76  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:19.8173em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:19.8173em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3182em;top:19.8173em;"><span class="stl_267 stl_08 stl_360">102  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:20.8273em;"><span class="stl_264 stl_08 stl_247" style="word-spacing:-0.0381em;">Operating profit/(loss)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:20.8273em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0225em;top:20.8273em;"><span class="stl_274 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:22.4323em;"><span class="stl_267 stl_08 stl_266" style="word-spacing:-0.0356em;">Financial income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:22.4323em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1775em;top:22.4323em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:23.4423em;"><span class="stl_267 stl_08 stl_230" style="word-spacing:-0.0407em;">Financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:23.4423em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0219em;top:23.4423em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:24.4523em;"><span class="stl_264 stl_08 stl_320" style="word-spacing:-0.0383em;">Profit/(loss) before income taxes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:24.4523em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0225em;top:24.4523em;"><span class="stl_274 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:26.0573em;"><span class="stl_267 stl_08 stl_244" style="word-spacing:-0.037em;">Income taxes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:26.0573em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4456em;top:26.0573em;"><span class="stl_267 stl_08 stl_245">(22)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:27.0673em;"><span class="stl_264 stl_08 stl_249" style="word-spacing:-0.0343em;">Profit for the year of discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:27.0673em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.635em;top:27.0673em;"><span class="stl_274 stl_08 stl_405">24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.49em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:9.49em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:9.49em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.5343em;"><span class="stl_264 stl_08 stl_266" style="word-spacing:-0.0352em;">Earnings per share  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.4612em;"><span class="stl_267 stl_08 stl_268" style="word-spacing:-0.0443em;">Earnings per share (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:12.4612em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1283em;top:12.4612em;"><span class="stl_267 stl_08 stl_173">0.96  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.3881em;"><span class="stl_267 stl_08 stl_280" style="word-spacing:-0.0418em;">Diluted earnings per share (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:13.3881em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1283em;top:13.3881em;"><span class="stl_267 stl_08 stl_173">0.96  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:14.9337em;"><span class="stl_264 stl_08 stl_340" style="word-spacing:-0.0336em;">Cash Flows from discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.9437em;"><span class="stl_267 stl_08 stl_483" style="word-spacing:-0.0474em;">Cash flow from operating activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:15.9437em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4589em;top:15.9437em;"><span class="stl_267 stl_08 stl_255">(97)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.9537em;"><span class="stl_267 stl_08 stl_303" style="word-spacing:-0.0479em;">Cash flow from investing activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:16.9537em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2702em;top:16.9537em;"><span class="stl_267 stl_08 stl_577">904  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.9637em;"><span class="stl_267 stl_08 stl_239" style="word-spacing:-0.0486em;">Cash flow from financing activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:17.9637em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1927em;top:17.9637em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.9737em;"><span class="stl_264 stl_08 stl_226" style="word-spacing:-0.0359em;">Cash flow from discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:18.9737em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2777em;top:18.9737em;"><span class="stl_274 stl_08 stl_395">807  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_264 stl_08 stl_529" style="word-spacing:-0.0372em;">Divestment of infrastructure business  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.2843em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:8.2843em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:8.2843em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.9481em;"><span class="stl_264 stl_08 stl_249" style="word-spacing:-0.0341em;">Consideration received/receivable:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.9343em;"><span class="stl_267 stl_08 stl_236">Cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:10.9343em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7719em;top:10.9343em;"><span class="stl_267 stl_08 stl_171">1,001  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:11.9206em;"><span class="stl_267 stl_08 stl_233" style="word-spacing:-0.0327em;">Fair value of contingent consideration  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4532em;top:11.9206em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2713em;top:11.9206em;"><span class="stl_267 stl_08 stl_516">200  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:12.9068em;"><span class="stl_267 stl_08 stl_250" style="word-spacing:-0.0426em;">Net working capital/Net interest bearing debt adj. and other adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4532em;top:12.9068em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.0788em;top:12.9068em;"><span class="stl_267 stl_08 stl_233">(209)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:13.8931em;"><span class="stl_264 stl_08 stl_226" style="word-spacing:-0.0356em;">Sales price for discontinued operations incl. adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4532em;top:13.8931em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2669em;top:13.8931em;"><span class="stl_274 stl_08 stl_289">992  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:15.4706em;"><span class="stl_267 stl_08 stl_320" style="word-spacing:-0.0383em;">Transaction costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:15.4706em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6863em;top:15.4706em;"><span class="stl_267 stl_08 stl_45">51  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:16.4568em;"><span class="stl_264 stl_08 stl_231" style="word-spacing:-0.037em;">Sales price for discontinued operations, after transaction costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:16.4568em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2788em;top:16.4568em;"><span class="stl_274 stl_08 stl_523">941  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:17.9156em;"><span class="stl_267 stl_08 stl_528" style="word-spacing:-0.0461em;">Carrying amount of net assets sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:17.9156em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2944em;top:17.9156em;"><span class="stl_267 stl_08 stl_60">821  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:18.9018em;"><span class="stl_264 stl_08 stl_72" style="word-spacing:-0.0347em;">Gain on sale of discontinued operations before tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:18.9018em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2944em;top:18.9018em;"><span class="stl_274 stl_08 stl_208">120  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:19.8881em;"><span class="stl_267 stl_08 stl_340" style="word-spacing:-0.0339em;">Tax on divestment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:19.8881em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6269em;top:19.8881em;"><span class="stl_267 stl_08 stl_284">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:20.8743em;"><span class="stl_264 stl_08 stl_245" style="word-spacing:-0.0354em;">Gain on sale of discontinued operations after tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:20.8743em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6569em;top:20.8743em;"><span class="stl_274 stl_08 stl_165">76  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:22.3331em;"><span class="stl_267 stl_08 stl_532" style="word-spacing:-0.0411em;">Assets and liabilities in the business sold comprise of:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:23.3193em;"><span class="stl_267 stl_08 stl_494" style="word-spacing:-0.0445em;">Intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4544em;top:23.3193em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3188em;top:23.3193em;"><span class="stl_267 stl_08 stl_397">102  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:24.3056em;"><span class="stl_267 stl_08 stl_123" style="word-spacing:-0.0303em;">Tangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4544em;top:24.3056em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2888em;top:24.3056em;"><span class="stl_267 stl_08 stl_165">501  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:25.2918em;"><span class="stl_267 stl_08 stl_89" style="word-spacing:-0.0452em;">Lease assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4544em;top:25.2918em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6469em;top:25.2918em;"><span class="stl_267 stl_08 stl_506">38  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:26.2781em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0424em;">Deferred taxes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4544em;top:26.2781em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0225em;top:26.2781em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:27.2643em;"><span class="stl_267 stl_08 stl_509">Deposits  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4544em;top:27.2643em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0225em;top:27.2643em;"><span class="stl_267 stl_08 stl_19">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:28.2506em;"><span class="stl_267 stl_08 stl_183" style="word-spacing:-0.0273em;">Transition cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4544em;top:28.2506em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6444em;top:28.2506em;"><span class="stl_267 stl_08 stl_289">80  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:29.2368em;"><span class="stl_267 stl_08 stl_167" style="word-spacing:-0.0287em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4544em;top:29.2368em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6463em;top:29.2368em;"><span class="stl_267 stl_08 stl_734">96  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:30.2231em;"><span class="stl_267 stl_08 stl_266" style="word-spacing:-0.0354em;">Work in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4544em;top:30.2231em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6519em;top:30.2231em;"><span class="stl_267 stl_08 stl_268">28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7269em;top:31.2093em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0419em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.455em;top:31.2093em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0231em;top:31.2093em;"><span class="stl_267 stl_08 stl_19">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7269em;top:32.1956em;"><span class="stl_267 stl_08 stl_259">Prepayments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.455em;top:32.1956em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.37em;top:32.1956em;"><span class="stl_267 stl_08 stl_290">114  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7269em;top:33.1818em;"><span class="stl_267 stl_08 stl_236">Cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.455em;top:33.1818em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6669em;top:33.1818em;"><span class="stl_267 stl_08 stl_721">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7269em;top:34.1681em;"><span class="stl_264 stl_08 stl_167" style="word-spacing:-0.028em;">Total assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.455em;top:34.1681em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.26em;top:34.1681em;"><span class="stl_274 stl_08 stl_594">995  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:8.3417em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:8.3417em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:8.3417em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.9954em;"><span class="stl_267 stl_08 stl_253" style="word-spacing:-0.0388em;">Employee benefit obligations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:9.9954em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:9.9954em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.0054em;"><span class="stl_267 stl_08 stl_226" style="word-spacing:-0.0362em;">Lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:11.0054em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.652em;top:11.0054em;"><span class="stl_267 stl_08 stl_460">34  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.0154em;"><span class="stl_267 stl_08 stl_280" style="word-spacing:-0.0414em;">Prepayments received, transition cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:12.0154em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6514em;top:12.0154em;"><span class="stl_267 stl_08 stl_851">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.0017em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0411em;">Prepayments received, work in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:13.0017em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6995em;top:13.0017em;"><span class="stl_267 stl_08 stl_286">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.9879em;"><span class="stl_267 stl_08 stl_246" style="word-spacing:-0.0405em;">Employee costs payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:13.9879em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.667em;top:13.9879em;"><span class="stl_267 stl_08 stl_247">62  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:14.9742em;"><span class="stl_267 stl_08 stl_145" style="word-spacing:-0.0248em;">Tax payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:14.9742em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:14.9742em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.9604em;"><span class="stl_267 stl_08 stl_408" style="word-spacing:-0.0392em;">Other current liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:15.9604em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6995em;top:15.9604em;"><span class="stl_267 stl_08 stl_286">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.9467em;"><span class="stl_267 stl_08 stl_387">Provisions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:16.9467em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:16.9467em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.9329em;"><span class="stl_264 stl_08 stl_145" style="word-spacing:-0.0239em;">Total liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:17.9329em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3395em;top:17.9329em;"><span class="stl_274 stl_08 stl_663">174  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:19.9048em;"><span class="stl_264 stl_08 stl_695" style="word-spacing:-0.044em;">Net assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:19.9048em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2852em;top:19.9048em;"><span class="stl_274 stl_08 stl_465">821  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:21.4929em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0394em;">On 28 April 2023, NNIT completed the transformative divestment of the Group’s infrastructure operations to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:22.3261em;"><span class="stl_774 stl_08 stl_253" style="word-spacing:-0.039em;">funds advised by Agilitas Private Equity LLP as initially described in company announcement no. 9/2022 on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.1592em;"><span class="stl_774 stl_08 stl_183" style="word-spacing:-0.0275em;">June 22, 2022.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:24.8261em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">Financial information relating to the discontinued operation is set out in the table.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:34.1041em;"><span class="stl_610 stl_08 stl_492" style="word-spacing:-0.0337em;">Special Items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:34.9372em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">Special items comprise costs or income that cannot  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:35.7703em;"><span class="stl_202 stl_08 stl_658" style="word-spacing:-0.0454em;">be attributed directly to the Group’s ordinary activ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:36.6035em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">ities and are non-recurring of nature. Such costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:37.4366em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0364em;">and income include the cost related to significant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:38.2697em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">restructuring of the cost base and processes as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:39.1028em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">well as restructuring costs related to resignation of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0412em;">employees. Further special items include significant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_523" style="word-spacing:-0.0482em;">cost related to M&amp;A activities, earn-out payments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6378em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">related to acquisitions where earn-out is in part  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.471em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0349em;">subject to the selling shareholders' continued  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3041em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">employment during the accrual period, redun-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1372em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0352em;">dancy cost related to members of Group Manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.9703em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">ment, impairment of assets and gains and losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.8035em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0385em;">regarding disposal of activities or subsidiaries.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4703em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0338em;">Special items are shown separately in the Group to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.3035em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0385em;">give a true and fair presentation of the Group’s ordi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1366em;"><span class="stl_202 stl_08 stl_89" style="word-spacing:-0.0452em;">nary operations.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:5.658em;"><span class="stl_527 stl_08 stl_233" style="word-spacing:0.0234em;">2.5 Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:6.9785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:6.9785em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:6.9785em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:8.6423em;"><span class="stl_264 stl_08 stl_249" style="word-spacing:-0.0342em;">Special items relates to:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.6523em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0411em;">Gain/loss from subleases  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.312em;top:9.6523em;"><span class="stl_267 stl_08 stl_19">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5177em;top:9.6523em;"><span class="stl_267 stl_08 stl_301">(15)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.6623em;"><span class="stl_267 stl_08 stl_231" style="word-spacing:-0.0368em;">Employee benefit cost (contingent consideration agreement)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9514em;top:10.6623em;"><span class="stl_267 stl_08 stl_366">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6708em;top:10.6623em;"><span class="stl_267 stl_08 stl_116">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.6723em;"><span class="stl_267 stl_08 stl_239" style="word-spacing:-0.0488em;">Restructuring cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.937em;top:11.6723em;"><span class="stl_267 stl_08 stl_516">50  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6789em;top:11.6723em;"><span class="stl_267 stl_08 stl_192">31  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.6823em;"><span class="stl_267 stl_08 stl_403">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.312em;top:12.6823em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1927em;top:12.6823em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.6923em;"><span class="stl_267 stl_08 stl_534" style="word-spacing:-0.0365em;">Cost regarding acquisition and disposal of operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7433em;top:13.6923em;"><span class="stl_267 stl_08 stl_181">(20)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3277em;top:13.6923em;"><span class="stl_267 stl_08 stl_377">103  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:14.7023em;"><span class="stl_264 stl_08 stl_132" style="word-spacing:-0.0279em;">Total special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9383em;top:14.7023em;"><span class="stl_274 stl_08 stl_734">69  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.317em;top:14.7023em;"><span class="stl_274 stl_08 stl_620">171  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:15.7123em;"><span class="stl_267 stl_08 stl_248" style="word-spacing:-0.0346em;">Total special items, discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4689em;top:15.7123em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3333em;top:15.7123em;"><span class="stl_267 stl_08 stl_397">102  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:16.7223em;"><span class="stl_264 stl_08 stl_179" style="word-spacing:-0.0301em;">Total special items, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9383em;top:16.7223em;"><span class="stl_274 stl_08 stl_734">69  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6627em;top:16.7223em;"><span class="stl_274 stl_08 stl_734">69  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:18.3273em;"><span class="stl_264 stl_08 stl_237" style="word-spacing:-0.0363em;">If special items had been recognized in operating profit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:19.1604em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.035em;">before special items, they would have been included in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:19.9935em;"><span class="stl_850 stl_08 stl_369" style="word-spacing:-0.0335em;">the following line items:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:21.0035em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">– Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3127em;top:21.0035em;"><span class="stl_267 stl_08 stl_19">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.037em;top:21.0035em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:22.0135em;"><span class="stl_267 stl_08 stl_91" style="word-spacing:-0.0423em;">– Administrative expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9433em;top:22.0135em;"><span class="stl_267 stl_08 stl_247">62  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6608em;top:22.0135em;"><span class="stl_267 stl_08 stl_734">66  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.0235em;"><span class="stl_264 stl_08 stl_132" style="word-spacing:-0.0279em;">Total special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9377em;top:23.0235em;"><span class="stl_274 stl_08 stl_734">69  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.662em;top:23.0235em;"><span class="stl_274 stl_08 stl_734">69  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:34.1041em;"><span class="stl_610 stl_08 stl_492" style="word-spacing:-0.0337em;">Special Items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:34.9372em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">Special items comprise costs or income that cannot  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:35.7703em;"><span class="stl_202 stl_08 stl_658" style="word-spacing:-0.0454em;">be attributed directly to the Group’s ordinary activ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:36.6035em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">ities and are non-recurring of nature. Such costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:37.4366em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0364em;">and income include the cost related to significant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:38.2697em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">restructuring of the cost base and processes as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:39.1028em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">well as restructuring costs related to resignation of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0412em;">employees. Further special items include significant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_523" style="word-spacing:-0.0482em;">cost related to M&amp;A activities, earn-out payments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6378em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">related to acquisitions where earn-out is in part  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.471em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0349em;">subject to the selling shareholders' continued  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3041em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">employment during the accrual period, redun-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1372em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0352em;">dancy cost related to members of Group Manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.9703em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">ment, impairment of assets and gains and losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.8035em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0385em;">regarding disposal of activities or subsidiaries.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4703em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0338em;">Special items are shown separately in the Group to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.3035em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0385em;">give a true and fair presentation of the Group’s ordi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1366em;"><span class="stl_202 stl_08 stl_89" style="word-spacing:-0.0452em;">nary operations.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8035em;"><span class="stl_264 stl_08 stl_211" style="word-spacing:-0.0305em;">Financial items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6366em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0366em;">Financial income and expenses comprise interest,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4697em;"><span class="stl_202 stl_08 stl_423" style="word-spacing:-0.0313em;">realized and unrealized gains and losses from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3028em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0394em;">exchange rate adjustments, fair value adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0423em;">on forward contracts and the cumulative value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.9691em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">adjustment of these instruments transferred from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8022em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0426em;">the hedging reserve within equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4691em;"><span class="stl_202 stl_08 stl_215" style="word-spacing:-0.0316em;">Interest income is recognized on an accrual basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.3022em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0384em;">according to the effective interest rate method.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8035em;"><span class="stl_264 stl_08 stl_211" style="word-spacing:-0.0305em;">Financial items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6366em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0366em;">Financial income and expenses comprise interest,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4697em;"><span class="stl_202 stl_08 stl_423" style="word-spacing:-0.0313em;">realized and unrealized gains and losses from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3028em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0394em;">exchange rate adjustments, fair value adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0423em;">on forward contracts and the cumulative value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.9691em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">adjustment of these instruments transferred from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8022em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0426em;">the hedging reserve within equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4691em;"><span class="stl_202 stl_08 stl_215" style="word-spacing:-0.0316em;">Interest income is recognized on an accrual basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.3022em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0384em;">according to the effective interest rate method.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3825em;z-index:1346;"><span class="stl_527 stl_08 stl_602">4</span><span class="stl_527 stl_08 stl_836">.</span><span class="stl_527 stl_08 stl_189" style="word-spacing:0.2191em;">1 Financial</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:9.755em;top:10.3825em;z-index:1346;"><span class="stl_527 stl_08 stl_174" style="word-spacing:-0.0234em;">income and expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.7029em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:11.7029em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:11.7029em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.3667em;"><span class="stl_264 stl_08 stl_67" style="word-spacing:-0.0289em;">Financial income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.3767em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.0373em;">Interest income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.98em;top:14.3767em;"><span class="stl_267 stl_08 stl_810">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6888em;top:14.3767em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.3867em;"><span class="stl_267 stl_08 stl_34" style="word-spacing:-0.0321em;">Tax related interests  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:15.3867em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:15.3867em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.3967em;"><span class="stl_264 stl_08 stl_58" style="word-spacing:-0.0274em;">Total financial income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.955em;top:16.3967em;"><span class="stl_274 stl_08 stl_825">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6632em;top:16.3967em;"><span class="stl_274 stl_08 stl_468">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.4529em;"><span class="stl_267 stl_08 stl_340" style="word-spacing:-0.0339em;">Total financial income, dicontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:18.4529em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:18.4529em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4629em;"><span class="stl_264 stl_08 stl_165" style="word-spacing:-0.0298em;">Total financial income, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.955em;top:19.4629em;"><span class="stl_274 stl_08 stl_825">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6632em;top:19.4629em;"><span class="stl_274 stl_08 stl_468">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.4823em;"><span class="stl_264 stl_08 stl_201" style="word-spacing:-0.0351em;">Financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.4923em;"><span class="stl_267 stl_08 stl_255" style="word-spacing:-0.0363em;">Realized/unrealized loss on currency  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9669em;top:22.4923em;"><span class="stl_267 stl_08 stl_818">17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:22.4923em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.5023em;"><span class="stl_267 stl_08 stl_250" style="word-spacing:-0.0428em;">Interest expenses lease liability  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:23.5023em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:23.5023em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.5123em;"><span class="stl_267 stl_08 stl_250" style="word-spacing:-0.043em;">Interest expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9307em;top:24.5123em;"><span class="stl_267 stl_08 stl_116">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6532em;top:24.5123em;"><span class="stl_267 stl_08 stl_227">32  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.5223em;"><span class="stl_267 stl_08 stl_320" style="word-spacing:-0.038em;">Bank charges and other fees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:25.5223em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.68em;top:25.5223em;"><span class="stl_267 stl_08 stl_74">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.5323em;"><span class="stl_267 stl_08 stl_72" style="word-spacing:-0.0347em;">Guarantee commission  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:26.5323em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:26.5323em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.5423em;"><span class="stl_267 stl_08 stl_268" style="word-spacing:-0.0438em;">Other financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:27.5423em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:27.5423em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.5523em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0325em;">Total financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9019em;top:28.5523em;"><span class="stl_274 stl_08 stl_284">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6313em;top:28.5523em;"><span class="stl_274 stl_08 stl_809">48  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.5717em;"><span class="stl_267 stl_08 stl_231" style="word-spacing:-0.0366em;">Total financial expenses, dicontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:30.5717em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:30.5717em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.5817em;"><span class="stl_264 stl_08 stl_535" style="word-spacing:-0.0325em;">Total financial expenses, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9019em;top:31.5817em;"><span class="stl_274 stl_08 stl_284">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6313em;top:31.5817em;"><span class="stl_274 stl_08 stl_809">46  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8035em;"><span class="stl_264 stl_08 stl_211" style="word-spacing:-0.0305em;">Financial items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6366em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0366em;">Financial income and expenses comprise interest,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4697em;"><span class="stl_202 stl_08 stl_423" style="word-spacing:-0.0313em;">realized and unrealized gains and losses from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3028em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0394em;">exchange rate adjustments, fair value adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0423em;">on forward contracts and the cumulative value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.9691em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">adjustment of these instruments transferred from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8022em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0426em;">the hedging reserve within equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4691em;"><span class="stl_202 stl_08 stl_215" style="word-spacing:-0.0316em;">Interest income is recognized on an accrual basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.3022em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0384em;">according to the effective interest rate method.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3825em;z-index:1346;"><span class="stl_527 stl_08 stl_602">4</span><span class="stl_527 stl_08 stl_836">.</span><span class="stl_527 stl_08 stl_189" style="word-spacing:0.2191em;">1 Financial</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:9.755em;top:10.3825em;z-index:1346;"><span class="stl_527 stl_08 stl_174" style="word-spacing:-0.0234em;">income and expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.7029em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:11.7029em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:11.7029em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.3667em;"><span class="stl_264 stl_08 stl_67" style="word-spacing:-0.0289em;">Financial income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.3767em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.0373em;">Interest income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.98em;top:14.3767em;"><span class="stl_267 stl_08 stl_810">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6888em;top:14.3767em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.3867em;"><span class="stl_267 stl_08 stl_34" style="word-spacing:-0.0321em;">Tax related interests  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:15.3867em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:15.3867em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.3967em;"><span class="stl_264 stl_08 stl_58" style="word-spacing:-0.0274em;">Total financial income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.955em;top:16.3967em;"><span class="stl_274 stl_08 stl_825">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6632em;top:16.3967em;"><span class="stl_274 stl_08 stl_468">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.4529em;"><span class="stl_267 stl_08 stl_340" style="word-spacing:-0.0339em;">Total financial income, dicontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:18.4529em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:18.4529em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4629em;"><span class="stl_264 stl_08 stl_165" style="word-spacing:-0.0298em;">Total financial income, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.955em;top:19.4629em;"><span class="stl_274 stl_08 stl_825">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6632em;top:19.4629em;"><span class="stl_274 stl_08 stl_468">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.4823em;"><span class="stl_264 stl_08 stl_201" style="word-spacing:-0.0351em;">Financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.4923em;"><span class="stl_267 stl_08 stl_255" style="word-spacing:-0.0363em;">Realized/unrealized loss on currency  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9669em;top:22.4923em;"><span class="stl_267 stl_08 stl_818">17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:22.4923em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.5023em;"><span class="stl_267 stl_08 stl_250" style="word-spacing:-0.0428em;">Interest expenses lease liability  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:23.5023em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:23.5023em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.5123em;"><span class="stl_267 stl_08 stl_250" style="word-spacing:-0.043em;">Interest expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9307em;top:24.5123em;"><span class="stl_267 stl_08 stl_116">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6532em;top:24.5123em;"><span class="stl_267 stl_08 stl_227">32  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.5223em;"><span class="stl_267 stl_08 stl_320" style="word-spacing:-0.038em;">Bank charges and other fees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:25.5223em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.68em;top:25.5223em;"><span class="stl_267 stl_08 stl_74">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.5323em;"><span class="stl_267 stl_08 stl_72" style="word-spacing:-0.0347em;">Guarantee commission  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:26.5323em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:26.5323em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.5423em;"><span class="stl_267 stl_08 stl_268" style="word-spacing:-0.0438em;">Other financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:27.5423em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:27.5423em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.5523em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0325em;">Total financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9019em;top:28.5523em;"><span class="stl_274 stl_08 stl_284">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6313em;top:28.5523em;"><span class="stl_274 stl_08 stl_809">48  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.5717em;"><span class="stl_267 stl_08 stl_231" style="word-spacing:-0.0366em;">Total financial expenses, dicontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:30.5717em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:30.5717em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.5817em;"><span class="stl_264 stl_08 stl_535" style="word-spacing:-0.0325em;">Total financial expenses, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9019em;top:31.5817em;"><span class="stl_274 stl_08 stl_284">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6313em;top:31.5817em;"><span class="stl_274 stl_08 stl_809">46  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8035em;"><span class="stl_264 stl_08 stl_211" style="word-spacing:-0.0305em;">Financial items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6366em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0366em;">Financial income and expenses comprise interest,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4697em;"><span class="stl_202 stl_08 stl_423" style="word-spacing:-0.0313em;">realized and unrealized gains and losses from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3028em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0394em;">exchange rate adjustments, fair value adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0423em;">on forward contracts and the cumulative value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.9691em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">adjustment of these instruments transferred from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8022em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0426em;">the hedging reserve within equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4691em;"><span class="stl_202 stl_08 stl_215" style="word-spacing:-0.0316em;">Interest income is recognized on an accrual basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.3022em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0384em;">according to the effective interest rate method.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3825em;z-index:1346;"><span class="stl_527 stl_08 stl_602">4</span><span class="stl_527 stl_08 stl_836">.</span><span class="stl_527 stl_08 stl_189" style="word-spacing:0.2191em;">1 Financial</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:9.755em;top:10.3825em;z-index:1346;"><span class="stl_527 stl_08 stl_174" style="word-spacing:-0.0234em;">income and expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.7029em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:11.7029em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:11.7029em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.3667em;"><span class="stl_264 stl_08 stl_67" style="word-spacing:-0.0289em;">Financial income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.3767em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.0373em;">Interest income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.98em;top:14.3767em;"><span class="stl_267 stl_08 stl_810">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6888em;top:14.3767em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.3867em;"><span class="stl_267 stl_08 stl_34" style="word-spacing:-0.0321em;">Tax related interests  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:15.3867em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:15.3867em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.3967em;"><span class="stl_264 stl_08 stl_58" style="word-spacing:-0.0274em;">Total financial income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.955em;top:16.3967em;"><span class="stl_274 stl_08 stl_825">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6632em;top:16.3967em;"><span class="stl_274 stl_08 stl_468">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.4529em;"><span class="stl_267 stl_08 stl_340" style="word-spacing:-0.0339em;">Total financial income, dicontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:18.4529em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:18.4529em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4629em;"><span class="stl_264 stl_08 stl_165" style="word-spacing:-0.0298em;">Total financial income, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.955em;top:19.4629em;"><span class="stl_274 stl_08 stl_825">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6632em;top:19.4629em;"><span class="stl_274 stl_08 stl_468">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.4823em;"><span class="stl_264 stl_08 stl_201" style="word-spacing:-0.0351em;">Financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.4923em;"><span class="stl_267 stl_08 stl_255" style="word-spacing:-0.0363em;">Realized/unrealized loss on currency  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9669em;top:22.4923em;"><span class="stl_267 stl_08 stl_818">17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:22.4923em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.5023em;"><span class="stl_267 stl_08 stl_250" style="word-spacing:-0.0428em;">Interest expenses lease liability  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:23.5023em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:23.5023em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.5123em;"><span class="stl_267 stl_08 stl_250" style="word-spacing:-0.043em;">Interest expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9307em;top:24.5123em;"><span class="stl_267 stl_08 stl_116">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6532em;top:24.5123em;"><span class="stl_267 stl_08 stl_227">32  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.5223em;"><span class="stl_267 stl_08 stl_320" style="word-spacing:-0.038em;">Bank charges and other fees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:25.5223em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.68em;top:25.5223em;"><span class="stl_267 stl_08 stl_74">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.5323em;"><span class="stl_267 stl_08 stl_72" style="word-spacing:-0.0347em;">Guarantee commission  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:26.5323em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:26.5323em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.5423em;"><span class="stl_267 stl_08 stl_268" style="word-spacing:-0.0438em;">Other financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:27.5423em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:27.5423em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.5523em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0325em;">Total financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9019em;top:28.5523em;"><span class="stl_274 stl_08 stl_284">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6313em;top:28.5523em;"><span class="stl_274 stl_08 stl_809">48  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.5717em;"><span class="stl_267 stl_08 stl_231" style="word-spacing:-0.0366em;">Total financial expenses, dicontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:30.5717em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:30.5717em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.5817em;"><span class="stl_264 stl_08 stl_535" style="word-spacing:-0.0325em;">Total financial expenses, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9019em;top:31.5817em;"><span class="stl_274 stl_08 stl_284">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6313em;top:31.5817em;"><span class="stl_274 stl_08 stl_809">46  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8035em;"><span class="stl_264 stl_08 stl_211" style="word-spacing:-0.0305em;">Financial items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6366em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0366em;">Financial income and expenses comprise interest,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4697em;"><span class="stl_202 stl_08 stl_423" style="word-spacing:-0.0313em;">realized and unrealized gains and losses from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3028em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0394em;">exchange rate adjustments, fair value adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0423em;">on forward contracts and the cumulative value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.9691em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">adjustment of these instruments transferred from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8022em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0426em;">the hedging reserve within equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4691em;"><span class="stl_202 stl_08 stl_215" style="word-spacing:-0.0316em;">Interest income is recognized on an accrual basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.3022em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0384em;">according to the effective interest rate method.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8035em;"><span class="stl_264 stl_08 stl_211" style="word-spacing:-0.0305em;">Financial items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6366em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0366em;">Financial income and expenses comprise interest,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4697em;"><span class="stl_202 stl_08 stl_423" style="word-spacing:-0.0313em;">realized and unrealized gains and losses from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3028em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0394em;">exchange rate adjustments, fair value adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0423em;">on forward contracts and the cumulative value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.9691em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">adjustment of these instruments transferred from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8022em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0426em;">the hedging reserve within equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4691em;"><span class="stl_202 stl_08 stl_215" style="word-spacing:-0.0316em;">Interest income is recognized on an accrual basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.3022em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0384em;">according to the effective interest rate method.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3825em;z-index:1346;"><span class="stl_527 stl_08 stl_602">4</span><span class="stl_527 stl_08 stl_836">.</span><span class="stl_527 stl_08 stl_189" style="word-spacing:0.2191em;">1 Financial</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:9.755em;top:10.3825em;z-index:1346;"><span class="stl_527 stl_08 stl_174" style="word-spacing:-0.0234em;">income and expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.7029em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:11.7029em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:11.7029em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.3667em;"><span class="stl_264 stl_08 stl_67" style="word-spacing:-0.0289em;">Financial income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.3767em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.0373em;">Interest income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.98em;top:14.3767em;"><span class="stl_267 stl_08 stl_810">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6888em;top:14.3767em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.3867em;"><span class="stl_267 stl_08 stl_34" style="word-spacing:-0.0321em;">Tax related interests  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:15.3867em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:15.3867em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.3967em;"><span class="stl_264 stl_08 stl_58" style="word-spacing:-0.0274em;">Total financial income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.955em;top:16.3967em;"><span class="stl_274 stl_08 stl_825">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6632em;top:16.3967em;"><span class="stl_274 stl_08 stl_468">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.4529em;"><span class="stl_267 stl_08 stl_340" style="word-spacing:-0.0339em;">Total financial income, dicontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:18.4529em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:18.4529em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4629em;"><span class="stl_264 stl_08 stl_165" style="word-spacing:-0.0298em;">Total financial income, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.955em;top:19.4629em;"><span class="stl_274 stl_08 stl_825">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6632em;top:19.4629em;"><span class="stl_274 stl_08 stl_468">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.4823em;"><span class="stl_264 stl_08 stl_201" style="word-spacing:-0.0351em;">Financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.4923em;"><span class="stl_267 stl_08 stl_255" style="word-spacing:-0.0363em;">Realized/unrealized loss on currency  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9669em;top:22.4923em;"><span class="stl_267 stl_08 stl_818">17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:22.4923em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.5023em;"><span class="stl_267 stl_08 stl_250" style="word-spacing:-0.0428em;">Interest expenses lease liability  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:23.5023em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:23.5023em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.5123em;"><span class="stl_267 stl_08 stl_250" style="word-spacing:-0.043em;">Interest expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9307em;top:24.5123em;"><span class="stl_267 stl_08 stl_116">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6532em;top:24.5123em;"><span class="stl_267 stl_08 stl_227">32  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.5223em;"><span class="stl_267 stl_08 stl_320" style="word-spacing:-0.038em;">Bank charges and other fees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:25.5223em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.68em;top:25.5223em;"><span class="stl_267 stl_08 stl_74">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.5323em;"><span class="stl_267 stl_08 stl_72" style="word-spacing:-0.0347em;">Guarantee commission  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:26.5323em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:26.5323em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.5423em;"><span class="stl_267 stl_08 stl_268" style="word-spacing:-0.0438em;">Other financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:27.5423em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:27.5423em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.5523em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0325em;">Total financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9019em;top:28.5523em;"><span class="stl_274 stl_08 stl_284">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6313em;top:28.5523em;"><span class="stl_274 stl_08 stl_809">48  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.5717em;"><span class="stl_267 stl_08 stl_231" style="word-spacing:-0.0366em;">Total financial expenses, dicontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:30.5717em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:30.5717em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.5817em;"><span class="stl_264 stl_08 stl_535" style="word-spacing:-0.0325em;">Total financial expenses, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9019em;top:31.5817em;"><span class="stl_274 stl_08 stl_284">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6313em;top:31.5817em;"><span class="stl_274 stl_08 stl_809">46  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8035em;"><span class="stl_264 stl_08 stl_211" style="word-spacing:-0.0305em;">Financial items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6366em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0366em;">Financial income and expenses comprise interest,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4697em;"><span class="stl_202 stl_08 stl_423" style="word-spacing:-0.0313em;">realized and unrealized gains and losses from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3028em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0394em;">exchange rate adjustments, fair value adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0423em;">on forward contracts and the cumulative value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.9691em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">adjustment of these instruments transferred from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8022em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0426em;">the hedging reserve within equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4691em;"><span class="stl_202 stl_08 stl_215" style="word-spacing:-0.0316em;">Interest income is recognized on an accrual basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.3022em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0384em;">according to the effective interest rate method.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3825em;z-index:1346;"><span class="stl_527 stl_08 stl_602">4</span><span class="stl_527 stl_08 stl_836">.</span><span class="stl_527 stl_08 stl_189" style="word-spacing:0.2191em;">1 Financial</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:9.755em;top:10.3825em;z-index:1346;"><span class="stl_527 stl_08 stl_174" style="word-spacing:-0.0234em;">income and expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.7029em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:11.7029em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:11.7029em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.3667em;"><span class="stl_264 stl_08 stl_67" style="word-spacing:-0.0289em;">Financial income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.3767em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.0373em;">Interest income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.98em;top:14.3767em;"><span class="stl_267 stl_08 stl_810">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6888em;top:14.3767em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.3867em;"><span class="stl_267 stl_08 stl_34" style="word-spacing:-0.0321em;">Tax related interests  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:15.3867em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:15.3867em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.3967em;"><span class="stl_264 stl_08 stl_58" style="word-spacing:-0.0274em;">Total financial income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.955em;top:16.3967em;"><span class="stl_274 stl_08 stl_825">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6632em;top:16.3967em;"><span class="stl_274 stl_08 stl_468">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.4529em;"><span class="stl_267 stl_08 stl_340" style="word-spacing:-0.0339em;">Total financial income, dicontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:18.4529em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:18.4529em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4629em;"><span class="stl_264 stl_08 stl_165" style="word-spacing:-0.0298em;">Total financial income, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.955em;top:19.4629em;"><span class="stl_274 stl_08 stl_825">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6632em;top:19.4629em;"><span class="stl_274 stl_08 stl_468">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.4823em;"><span class="stl_264 stl_08 stl_201" style="word-spacing:-0.0351em;">Financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.4923em;"><span class="stl_267 stl_08 stl_255" style="word-spacing:-0.0363em;">Realized/unrealized loss on currency  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9669em;top:22.4923em;"><span class="stl_267 stl_08 stl_818">17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:22.4923em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.5023em;"><span class="stl_267 stl_08 stl_250" style="word-spacing:-0.0428em;">Interest expenses lease liability  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:23.5023em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:23.5023em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.5123em;"><span class="stl_267 stl_08 stl_250" style="word-spacing:-0.043em;">Interest expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9307em;top:24.5123em;"><span class="stl_267 stl_08 stl_116">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6532em;top:24.5123em;"><span class="stl_267 stl_08 stl_227">32  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.5223em;"><span class="stl_267 stl_08 stl_320" style="word-spacing:-0.038em;">Bank charges and other fees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:25.5223em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.68em;top:25.5223em;"><span class="stl_267 stl_08 stl_74">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.5323em;"><span class="stl_267 stl_08 stl_72" style="word-spacing:-0.0347em;">Guarantee commission  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:26.5323em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:26.5323em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.5423em;"><span class="stl_267 stl_08 stl_268" style="word-spacing:-0.0438em;">Other financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:27.5423em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:27.5423em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.5523em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0325em;">Total financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9019em;top:28.5523em;"><span class="stl_274 stl_08 stl_284">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6313em;top:28.5523em;"><span class="stl_274 stl_08 stl_809">48  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.5717em;"><span class="stl_267 stl_08 stl_231" style="word-spacing:-0.0366em;">Total financial expenses, dicontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:30.5717em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:30.5717em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.5817em;"><span class="stl_264 stl_08 stl_535" style="word-spacing:-0.0325em;">Total financial expenses, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9019em;top:31.5817em;"><span class="stl_274 stl_08 stl_284">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6313em;top:31.5817em;"><span class="stl_274 stl_08 stl_809">46  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8035em;"><span class="stl_264 stl_08 stl_211" style="word-spacing:-0.0305em;">Financial items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6366em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0366em;">Financial income and expenses comprise interest,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4697em;"><span class="stl_202 stl_08 stl_423" style="word-spacing:-0.0313em;">realized and unrealized gains and losses from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3028em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0394em;">exchange rate adjustments, fair value adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0423em;">on forward contracts and the cumulative value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.9691em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">adjustment of these instruments transferred from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8022em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0426em;">the hedging reserve within equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4691em;"><span class="stl_202 stl_08 stl_215" style="word-spacing:-0.0316em;">Interest income is recognized on an accrual basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.3022em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0384em;">according to the effective interest rate method.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3825em;z-index:1346;"><span class="stl_527 stl_08 stl_602">4</span><span class="stl_527 stl_08 stl_836">.</span><span class="stl_527 stl_08 stl_189" style="word-spacing:0.2191em;">1 Financial</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:9.755em;top:10.3825em;z-index:1346;"><span class="stl_527 stl_08 stl_174" style="word-spacing:-0.0234em;">income and expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.7029em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:11.7029em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:11.7029em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.3667em;"><span class="stl_264 stl_08 stl_67" style="word-spacing:-0.0289em;">Financial income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.3767em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.0373em;">Interest income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.98em;top:14.3767em;"><span class="stl_267 stl_08 stl_810">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6888em;top:14.3767em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.3867em;"><span class="stl_267 stl_08 stl_34" style="word-spacing:-0.0321em;">Tax related interests  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:15.3867em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:15.3867em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.3967em;"><span class="stl_264 stl_08 stl_58" style="word-spacing:-0.0274em;">Total financial income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.955em;top:16.3967em;"><span class="stl_274 stl_08 stl_825">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6632em;top:16.3967em;"><span class="stl_274 stl_08 stl_468">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.4529em;"><span class="stl_267 stl_08 stl_340" style="word-spacing:-0.0339em;">Total financial income, dicontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:18.4529em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:18.4529em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4629em;"><span class="stl_264 stl_08 stl_165" style="word-spacing:-0.0298em;">Total financial income, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.955em;top:19.4629em;"><span class="stl_274 stl_08 stl_825">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6632em;top:19.4629em;"><span class="stl_274 stl_08 stl_468">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.4823em;"><span class="stl_264 stl_08 stl_201" style="word-spacing:-0.0351em;">Financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.4923em;"><span class="stl_267 stl_08 stl_255" style="word-spacing:-0.0363em;">Realized/unrealized loss on currency  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9669em;top:22.4923em;"><span class="stl_267 stl_08 stl_818">17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:22.4923em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.5023em;"><span class="stl_267 stl_08 stl_250" style="word-spacing:-0.0428em;">Interest expenses lease liability  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:23.5023em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:23.5023em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.5123em;"><span class="stl_267 stl_08 stl_250" style="word-spacing:-0.043em;">Interest expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9307em;top:24.5123em;"><span class="stl_267 stl_08 stl_116">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6532em;top:24.5123em;"><span class="stl_267 stl_08 stl_227">32  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.5223em;"><span class="stl_267 stl_08 stl_320" style="word-spacing:-0.038em;">Bank charges and other fees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:25.5223em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.68em;top:25.5223em;"><span class="stl_267 stl_08 stl_74">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.5323em;"><span class="stl_267 stl_08 stl_72" style="word-spacing:-0.0347em;">Guarantee commission  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:26.5323em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:26.5323em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.5423em;"><span class="stl_267 stl_08 stl_268" style="word-spacing:-0.0438em;">Other financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:27.5423em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:27.5423em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.5523em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0325em;">Total financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9019em;top:28.5523em;"><span class="stl_274 stl_08 stl_284">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6313em;top:28.5523em;"><span class="stl_274 stl_08 stl_809">48  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.5717em;"><span class="stl_267 stl_08 stl_231" style="word-spacing:-0.0366em;">Total financial expenses, dicontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:30.5717em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:30.5717em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.5817em;"><span class="stl_264 stl_08 stl_535" style="word-spacing:-0.0325em;">Total financial expenses, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9019em;top:31.5817em;"><span class="stl_274 stl_08 stl_284">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6313em;top:31.5817em;"><span class="stl_274 stl_08 stl_809">46  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8035em;"><span class="stl_264 stl_08 stl_211" style="word-spacing:-0.0305em;">Financial items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6366em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0366em;">Financial income and expenses comprise interest,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4697em;"><span class="stl_202 stl_08 stl_423" style="word-spacing:-0.0313em;">realized and unrealized gains and losses from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3028em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0394em;">exchange rate adjustments, fair value adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0423em;">on forward contracts and the cumulative value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.9691em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">adjustment of these instruments transferred from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8022em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0426em;">the hedging reserve within equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4691em;"><span class="stl_202 stl_08 stl_215" style="word-spacing:-0.0316em;">Interest income is recognized on an accrual basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.3022em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0384em;">according to the effective interest rate method.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.9691em;"><span class="stl_264 stl_08 stl_335">Tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.8022em;"><span class="stl_202 stl_08 stl_147" style="word-spacing:-0.0377em;">Income tax comprises current tax and deferred tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.6353em;"><span class="stl_202 stl_08 stl_373" style="word-spacing:-0.0303em;">for the year, and is recognized as follows: The amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.4685em;"><span class="stl_202 stl_08 stl_59" style="word-spacing:-0.0387em;">that can be allocated to the net profit for the year is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3016em;"><span class="stl_202 stl_08 stl_175" style="word-spacing:-0.0364em;">recognized in the income statement, and the amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.1347em;"><span class="stl_202 stl_08 stl_409" style="word-spacing:-0.0315em;">that relates to items recognized in other comprehen-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.9678em;"><span class="stl_774 stl_08 stl_38" style="word-spacing:-0.0383em;">sive income and/or equity respectively is recognized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.801em;"><span class="stl_774 stl_08 stl_161" style="word-spacing:-0.0348em;">in other comprehensive income and/ or equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.4678em;"><span class="stl_202 stl_08 stl_215" style="word-spacing:-0.0316em;">Deferred tax is measured according to the balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:35.301em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.038em;">sheet-based liability method on all temporary differ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.1341em;"><span class="stl_202 stl_08 stl_17" style="word-spacing:-0.0439em;">ences between the carrying amount and tax base of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.9672em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0414em;">assets and liabilities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:6.9672em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">Deferred tax assets are recognized in the balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.8003em;"><span class="stl_202 stl_08 stl_250" style="word-spacing:-0.0428em;">sheet under non-current assets.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.4672em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">Deferred tax liabilities are recognized in the balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.3003em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0387em;">sheet under non-current liabilities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.9672em;"><span class="stl_202 stl_08 stl_312" style="word-spacing:-0.037em;">Deferred tax is measured on the basis of the tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.8003em;"><span class="stl_202 stl_08 stl_86" style="word-spacing:-0.0351em;">rules and tax rates that according to current legisla-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:13.6335em;"><span class="stl_202 stl_08 stl_339" style="word-spacing:-0.0359em;">tion at the balance sheet date will apply at the time of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.4666em;"><span class="stl_202 stl_08 stl_124" style="word-spacing:-0.0397em;">the expected realization of the deferred tax asset or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.2997em;"><span class="stl_202 stl_08 stl_149" style="word-spacing:-0.0382em;">settlement of the deferred tax liability. Any changes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.1328em;"><span class="stl_202 stl_08 stl_39" style="word-spacing:-0.0423em;">to deferred tax caused by changes in statutory tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.966em;"><span class="stl_202 stl_08 stl_162" style="word-spacing:-0.0334em;">rates are recognized in the income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:18.6328em;"><span class="stl_774 stl_08 stl_412" style="word-spacing:-0.0519em;">For Danish tax purposes, NNIT A/S and SCALES A/S  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.466em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">is assessed jointly with the Novo Group. Income tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.2991em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">is allocated between the companies in proportion to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.1322em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.038em;">their taxable incomes (full allocation with compen-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.9653em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0393em;">sation concerning tax losses). The jointly assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:22.7985em;"><span class="stl_202 stl_08 stl_67" style="word-spacing:-0.0297em;">companies are included in the Tax Prepayment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.6316em;"><span class="stl_202 stl_08 stl_245">Scheme.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.9691em;"><span class="stl_264 stl_08 stl_335">Tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.8022em;"><span class="stl_202 stl_08 stl_147" style="word-spacing:-0.0377em;">Income tax comprises current tax and deferred tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.6353em;"><span class="stl_202 stl_08 stl_373" style="word-spacing:-0.0303em;">for the year, and is recognized as follows: The amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.4685em;"><span class="stl_202 stl_08 stl_59" style="word-spacing:-0.0387em;">that can be allocated to the net profit for the year is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3016em;"><span class="stl_202 stl_08 stl_175" style="word-spacing:-0.0364em;">recognized in the income statement, and the amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.1347em;"><span class="stl_202 stl_08 stl_409" style="word-spacing:-0.0315em;">that relates to items recognized in other comprehen-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.9678em;"><span class="stl_774 stl_08 stl_38" style="word-spacing:-0.0383em;">sive income and/or equity respectively is recognized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.801em;"><span class="stl_774 stl_08 stl_161" style="word-spacing:-0.0348em;">in other comprehensive income and/ or equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.4678em;"><span class="stl_202 stl_08 stl_215" style="word-spacing:-0.0316em;">Deferred tax is measured according to the balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:35.301em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.038em;">sheet-based liability method on all temporary differ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.1341em;"><span class="stl_202 stl_08 stl_17" style="word-spacing:-0.0439em;">ences between the carrying amount and tax base of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.9672em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0414em;">assets and liabilities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:6.9672em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">Deferred tax assets are recognized in the balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.8003em;"><span class="stl_202 stl_08 stl_250" style="word-spacing:-0.0428em;">sheet under non-current assets.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.4672em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">Deferred tax liabilities are recognized in the balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.3003em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0387em;">sheet under non-current liabilities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.9672em;"><span class="stl_202 stl_08 stl_312" style="word-spacing:-0.037em;">Deferred tax is measured on the basis of the tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.8003em;"><span class="stl_202 stl_08 stl_86" style="word-spacing:-0.0351em;">rules and tax rates that according to current legisla-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:13.6335em;"><span class="stl_202 stl_08 stl_339" style="word-spacing:-0.0359em;">tion at the balance sheet date will apply at the time of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.4666em;"><span class="stl_202 stl_08 stl_124" style="word-spacing:-0.0397em;">the expected realization of the deferred tax asset or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.2997em;"><span class="stl_202 stl_08 stl_149" style="word-spacing:-0.0382em;">settlement of the deferred tax liability. Any changes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.1328em;"><span class="stl_202 stl_08 stl_39" style="word-spacing:-0.0423em;">to deferred tax caused by changes in statutory tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.966em;"><span class="stl_202 stl_08 stl_162" style="word-spacing:-0.0334em;">rates are recognized in the income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:18.6328em;"><span class="stl_774 stl_08 stl_412" style="word-spacing:-0.0519em;">For Danish tax purposes, NNIT A/S and SCALES A/S  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.466em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">is assessed jointly with the Novo Group. Income tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.2991em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">is allocated between the companies in proportion to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.1322em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.038em;">their taxable incomes (full allocation with compen-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.9653em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0393em;">sation concerning tax losses). The jointly assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:22.7985em;"><span class="stl_202 stl_08 stl_67" style="word-spacing:-0.0297em;">companies are included in the Tax Prepayment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.6316em;"><span class="stl_202 stl_08 stl_245">Scheme.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.9691em;"><span class="stl_264 stl_08 stl_335">Tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.8022em;"><span class="stl_202 stl_08 stl_147" style="word-spacing:-0.0377em;">Income tax comprises current tax and deferred tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.6353em;"><span class="stl_202 stl_08 stl_373" style="word-spacing:-0.0303em;">for the year, and is recognized as follows: The amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.4685em;"><span class="stl_202 stl_08 stl_59" style="word-spacing:-0.0387em;">that can be allocated to the net profit for the year is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3016em;"><span class="stl_202 stl_08 stl_175" style="word-spacing:-0.0364em;">recognized in the income statement, and the amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.1347em;"><span class="stl_202 stl_08 stl_409" style="word-spacing:-0.0315em;">that relates to items recognized in other comprehen-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.9678em;"><span class="stl_774 stl_08 stl_38" style="word-spacing:-0.0383em;">sive income and/or equity respectively is recognized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.801em;"><span class="stl_774 stl_08 stl_161" style="word-spacing:-0.0348em;">in other comprehensive income and/ or equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.4678em;"><span class="stl_202 stl_08 stl_215" style="word-spacing:-0.0316em;">Deferred tax is measured according to the balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:35.301em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.038em;">sheet-based liability method on all temporary differ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.1341em;"><span class="stl_202 stl_08 stl_17" style="word-spacing:-0.0439em;">ences between the carrying amount and tax base of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.9672em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0414em;">assets and liabilities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:6.9672em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">Deferred tax assets are recognized in the balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.8003em;"><span class="stl_202 stl_08 stl_250" style="word-spacing:-0.0428em;">sheet under non-current assets.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.4672em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">Deferred tax liabilities are recognized in the balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.3003em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0387em;">sheet under non-current liabilities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.9672em;"><span class="stl_202 stl_08 stl_312" style="word-spacing:-0.037em;">Deferred tax is measured on the basis of the tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.8003em;"><span class="stl_202 stl_08 stl_86" style="word-spacing:-0.0351em;">rules and tax rates that according to current legisla-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:13.6335em;"><span class="stl_202 stl_08 stl_339" style="word-spacing:-0.0359em;">tion at the balance sheet date will apply at the time of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.4666em;"><span class="stl_202 stl_08 stl_124" style="word-spacing:-0.0397em;">the expected realization of the deferred tax asset or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.2997em;"><span class="stl_202 stl_08 stl_149" style="word-spacing:-0.0382em;">settlement of the deferred tax liability. Any changes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.1328em;"><span class="stl_202 stl_08 stl_39" style="word-spacing:-0.0423em;">to deferred tax caused by changes in statutory tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.966em;"><span class="stl_202 stl_08 stl_162" style="word-spacing:-0.0334em;">rates are recognized in the income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:18.6328em;"><span class="stl_774 stl_08 stl_412" style="word-spacing:-0.0519em;">For Danish tax purposes, NNIT A/S and SCALES A/S  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.466em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">is assessed jointly with the Novo Group. Income tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.2991em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">is allocated between the companies in proportion to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.1322em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.038em;">their taxable incomes (full allocation with compen-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.9653em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0393em;">sation concerning tax losses). The jointly assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:22.7985em;"><span class="stl_202 stl_08 stl_67" style="word-spacing:-0.0297em;">companies are included in the Tax Prepayment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.6316em;"><span class="stl_202 stl_08 stl_245">Scheme.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_68" style="word-spacing:0.0401em;">2.6 Income taxes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2169em;top:6.9785em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9732em;top:6.9785em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:8.6423em;"><span class="stl_267 stl_08 stl_250" style="word-spacing:-0.042em;">Current tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7882em;top:8.6423em;"><span class="stl_267 stl_08 stl_116">(24)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.7169em;top:8.6423em;"><span class="stl_267 stl_08 stl_135">67  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:9.6523em;"><span class="stl_267 stl_08 stl_332" style="word-spacing:-0.0474em;">Deferred tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9875em;top:9.6523em;"><span class="stl_267 stl_08 stl_226">39  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.5432em;top:9.6523em;"><span class="stl_267 stl_08 stl_376">(31)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:10.6623em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.04em;">Adjustments recognized for current tax of prior periods  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.85em;top:10.6623em;"><span class="stl_267 stl_08 stl_811">(12)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.7075em;top:10.6623em;"><span class="stl_267 stl_08 stl_351">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:11.6723em;"><span class="stl_267 stl_08 stl_256" style="word-spacing:-0.0402em;">Adjustments recognized for deferred tax of prior periods  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0394em;top:11.6723em;"><span class="stl_267 stl_08 stl_810">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.5082em;top:11.6723em;"><span class="stl_267 stl_08 stl_227">(28)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:12.6823em;"><span class="stl_264 stl_08 stl_201" style="word-spacing:-0.0354em;">Income taxes in the income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0025em;top:12.6823em;"><span class="stl_274 stl_08 stl_50">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6994em;top:12.6823em;"><span class="stl_274 stl_08 stl_707">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:14.2873em;"><span class="stl_267 stl_08 stl_321" style="word-spacing:-0.0395em;">Income taxes in the income statement, discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.5119em;top:14.2873em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.7025em;top:14.2873em;"><span class="stl_267 stl_08 stl_602">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:15.2973em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0348em;">Income taxes in the income statement, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0025em;top:15.2973em;"><span class="stl_274 stl_08 stl_50">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.7388em;top:15.2973em;"><span class="stl_274 stl_08 stl_825">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.9023em;"><span class="stl_264 stl_08 stl_226" style="word-spacing:-0.0356em;">Computation of effective tax rate, continuing operations:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.9123em;"><span class="stl_267 stl_08 stl_280" style="word-spacing:-0.0418em;">Statutory corporate income tax rate in Denmark  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8988em;top:17.9123em;"><span class="stl_267 stl_08 stl_484">22.0%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6225em;top:17.9123em;"><span class="stl_267 stl_08 stl_484">22.0%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.9223em;"><span class="stl_267 stl_08 stl_203" style="word-spacing:-0.0371em;">Deviation in foreign subsidiaries' tax rates compared to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.7554em;"><span class="stl_267 stl_08 stl_535" style="word-spacing:-0.0329em;">Danish tax rate (net)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9675em;top:19.7554em;"><span class="stl_267 stl_08 stl_621">12.7%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9882em;top:19.7554em;"><span class="stl_267 stl_08 stl_348">3.3%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.7654em;"><span class="stl_267 stl_08 stl_256" style="word-spacing:-0.04em;">Adjustment of current and deferred tax regarding previous years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1069em;top:20.7654em;"><span class="stl_267 stl_08 stl_296">(8.7%)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5669em;top:20.7654em;"><span class="stl_267 stl_08 stl_797">(17.6%)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.7754em;"><span class="stl_267 stl_08 stl_259" style="word-spacing:-0.0436em;">Other adjustments to taxable income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8825em;top:21.7754em;"><span class="stl_267 stl_08 stl_704">68.3%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.695em;top:21.7754em;"><span class="stl_267 stl_08 stl_336">57.0%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:22.7854em;"><span class="stl_264 stl_08 stl_17" style="word-spacing:-0.0439em;">Effective tax rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.7932em;top:22.7854em;"><span class="stl_274 stl_08 stl_852">94.3%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5407em;top:22.7854em;"><span class="stl_274 stl_08 stl_342">64.7%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:24.3904em;"><span class="stl_264 stl_08 stl_179" style="word-spacing:-0.0299em;">Tax on other comprehensive income for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3563em;top:24.3904em;"><span class="stl_274 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0807em;top:24.3904em;"><span class="stl_274 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:26.0016em;"><span class="stl_202 stl_08 stl_386" style="word-spacing:-0.0327em;">Tax on other comprehensive income for the year relates to tax on exchange rate adjustments and deferred tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:26.8348em;"><span class="stl_202 stl_08 stl_308" style="word-spacing:-0.0442em;">on share-based payments.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:28.5016em;"><span class="stl_202 stl_08 stl_424" style="word-spacing:-0.0308em;">From 1 January 2024 NNIT is subject to Global Minimum Tax (OECD BEPS Pillar 2 rules), due to the ownership of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:29.3348em;"><span class="stl_774 stl_08 stl_255" style="word-spacing:-0.0366em;">Novo Holding A/S. NNIT is thereby within the scope of the OECD Pillar Two model rules. The rules did not have  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:30.1679em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0346em;">a material impact on the tax position of NNIT in 2024. Furthermore, the Group applies the exception to recog-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:31.001em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0339em;">nising and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes, as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:31.8341em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0339em;">provided in the amendments to IAS 12 issued in May 2023.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:6.9716em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:6.9716em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:6.9716em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:8.6353em;"><span class="stl_264 stl_08 stl_151" style="word-spacing:-0.0258em;">Tax (payable)/receivable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.6453em;"><span class="stl_267 stl_08 stl_386" style="word-spacing:-0.0327em;">Tax (payable)/receivable at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.742em;top:9.6453em;"><span class="stl_267 stl_08 stl_165">(55)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6614em;top:9.6453em;"><span class="stl_267 stl_08 stl_506">72  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.6553em;"><span class="stl_267 stl_08 stl_235" style="word-spacing:-0.0415em;">Disposals related to divestment of infrastructure business  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:10.6553em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:10.6553em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.6653em;"><span class="stl_267 stl_08 stl_234" style="word-spacing:-0.0371em;">Income tax paid/(received) during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.8045em;top:11.6653em;"><span class="stl_267 stl_08 stl_716">(13)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.7202em;top:11.6653em;"><span class="stl_267 stl_08 stl_810">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.6753em;"><span class="stl_267 stl_08 stl_257" style="word-spacing:-0.0334em;">Tax paid/(received) related to previous years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9545em;top:12.6753em;"><span class="stl_267 stl_08 stl_192">47  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4745em;top:12.6753em;"><span class="stl_267 stl_08 stl_135">(45)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:13.6853em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.0378em;">Withholding taxes paid/(received) during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4677em;top:13.6853em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.8377em;top:13.6853em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:14.6953em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0414em;">Current tax on profit for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.947em;top:14.6953em;"><span class="stl_267 stl_08 stl_170">24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4608em;top:14.6953em;"><span class="stl_267 stl_08 stl_340">(67)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.7053em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0408em;">Adjustments related to previous years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9833em;top:15.7053em;"><span class="stl_267 stl_08 stl_819">12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4551em;top:15.7053em;"><span class="stl_267 stl_08 stl_230">(25)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:16.7153em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0381em;">Exchange rate adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.1576em;top:16.7153em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.882em;top:16.7153em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:17.7253em;"><span class="stl_264 stl_08 stl_58" style="word-spacing:-0.028em;">Tax (payable)/receivable at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9589em;top:17.7253em;"><span class="stl_274 stl_08 stl_50">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4245em;top:17.7253em;"><span class="stl_274 stl_08 stl_528">(55)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:19.3303em;"><span class="stl_267 stl_08 stl_249" style="word-spacing:-0.0345em;">Tax (payable)/receivables, discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:19.3303em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1926em;top:19.3303em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:20.3403em;"><span class="stl_264 stl_08 stl_275" style="word-spacing:-0.0297em;">Tax (payable)/receivables, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9589em;top:20.3403em;"><span class="stl_274 stl_08 stl_50">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4245em;top:20.3403em;"><span class="stl_274 stl_08 stl_528">(55)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:21.9453em;"><span class="stl_264 stl_08 stl_186" style="word-spacing:-0.0313em;">Tax payable/receivables are recognized in the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:22.7785em;"><span class="stl_264 stl_08 stl_237" style="word-spacing:-0.0364em;">as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:23.7885em;"><span class="stl_267 stl_08 stl_167" style="word-spacing:-0.0288em;">Tax receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9514em;top:23.7885em;"><span class="stl_267 stl_08 stl_366">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6958em;top:23.7885em;"><span class="stl_267 stl_08 stl_74">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:24.7985em;"><span class="stl_267 stl_08 stl_112" style="word-spacing:-0.0232em;">Tax payable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7358em;top:24.7985em;"><span class="stl_267 stl_08 stl_245">(22)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4552em;top:24.7985em;"><span class="stl_267 stl_08 stl_256">(70)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:25.8085em;"><span class="stl_267 stl_08 stl_424" style="word-spacing:-0.0307em;">Tax on other comprehensive income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9708em;top:25.8085em;"><span class="stl_267 stl_08 stl_74">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0358em;top:25.8085em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:26.8185em;"><span class="stl_264 stl_08 stl_388" style="word-spacing:-0.0221em;">Total tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9583em;top:26.8185em;"><span class="stl_274 stl_08 stl_50">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4239em;top:26.8185em;"><span class="stl_274 stl_08 stl_528">(55)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_774 stl_08 stl_535" style="word-spacing:-0.033em;">Net taxes received in 2023 for continuing and discontinued operations amounted to DKK 36 million and were paid/(received) as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.5194em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.3919em;top:8.5194em;"><span class="stl_263 stl_08 stl_243">CH  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.1613em;top:8.5194em;"><span class="stl_263 stl_08 stl_243">CN  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.0419em;top:8.5194em;"><span class="stl_263 stl_08 stl_279">CZ  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.7475em;top:8.5194em;"><span class="stl_263 stl_08 stl_529">DK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.5632em;top:8.5194em;"><span class="stl_263 stl_08 stl_529">DE  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.45em;top:8.5194em;"><span class="stl_263 stl_08 stl_519">ES  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.0632em;top:8.5194em;"><span class="stl_263 stl_08 stl_493">GB  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.1844em;top:8.5194em;"><span class="stl_263 stl_08 stl_340">IE  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:50.9575em;top:8.5194em;"><span class="stl_263 stl_08 stl_734">IT  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.4325em;top:8.5194em;"><span class="stl_263 stl_08 stl_124">PH  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.3488em;top:8.5194em;"><span class="stl_263 stl_08 stl_124">PL  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.0225em;top:8.5194em;"><span class="stl_263 stl_08 stl_528">SG  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8082em;top:8.5194em;"><span class="stl_263 stl_08 stl_132">US  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7969em;top:8.5194em;"><span class="stl_264 stl_08 stl_157">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:10.2769em;"><span class="stl_267 stl_08 stl_253" style="word-spacing:-0.0389em;">Income tax paid during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.0594em;top:10.2769em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.8388em;top:10.2769em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6182em;top:10.2769em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.6519em;top:10.2769em;"><span class="stl_267 stl_08 stl_403">(27)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:10.2769em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.9563em;top:10.2769em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.5794em;top:10.2769em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.515em;top:10.2769em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.2944em;top:10.2769em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.9175em;top:10.2769em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.8532em;top:10.2769em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.6325em;top:10.2769em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2557em;top:10.2769em;"><span class="stl_267 stl_08 stl_19">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.47em;top:10.2769em;"><span class="stl_274 stl_08 stl_457">(13)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7232em;top:11.2275em;"><span class="stl_267 stl_08 stl_269" style="word-spacing:-0.032em;">Tax paid related to previous years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.9013em;top:11.2275em;"><span class="stl_267 stl_08 stl_19">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.8369em;top:11.2275em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.46em;top:11.2275em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.8557em;top:11.2275em;"><span class="stl_267 stl_08 stl_460">34  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1757em;top:11.2275em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.955em;top:11.2275em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.5782em;top:11.2275em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5138em;top:11.2275em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.2932em;top:11.2275em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.0725em;top:11.2275em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.8519em;top:11.2275em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.6313em;top:11.2275em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2544em;top:11.2275em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6669em;top:11.2275em;"><span class="stl_274 stl_08 stl_340">47  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7219em;top:12.1781em;"><span class="stl_267 stl_08 stl_321" style="word-spacing:-0.0395em;">Withholding taxes paid during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.0563em;top:12.1781em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.8356em;top:12.1781em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.615em;top:12.1781em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.3944em;top:12.1781em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1738em;top:12.1781em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.9531em;top:12.1781em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.7325em;top:12.1781em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5119em;top:12.1781em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.2913em;top:12.1781em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.0706em;top:12.1781em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.85em;top:12.1781em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.6294em;top:12.1781em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.4088em;top:12.1781em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1881em;top:12.1781em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.72em;top:13.1287em;"><span class="stl_274 stl_08 stl_157">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.8988em;top:13.1287em;"><span class="stl_274 stl_08 stl_19">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.8338em;top:13.1287em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.4575em;top:13.1287em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.2369em;top:13.1287em;"><span class="stl_274 stl_08 stl_19">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0163em;top:13.1287em;"><span class="stl_274 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.9513em;top:13.1287em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.575em;top:13.1287em;"><span class="stl_274 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.51em;top:13.1287em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.2894em;top:13.1287em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.9131em;top:13.1287em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.8481em;top:13.1287em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.6275em;top:13.1287em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2512em;top:13.1287em;"><span class="stl_274 stl_08 stl_19">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6425em;top:13.1287em;"><span class="stl_274 stl_08 stl_748">34  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7181em;top:14.6156em;"><span class="stl_267 stl_08 stl_322" style="word-spacing:-0.0544em;">Effective tax rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.5394em;top:14.6156em;"><span class="stl_267 stl_08 stl_804">11.4%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.2356em;top:14.6156em;"><span class="stl_267 stl_08 stl_72">23.7%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.0069em;top:14.6156em;"><span class="stl_267 stl_08 stl_235">23.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.885em;top:14.6156em;"><span class="stl_267 stl_08 stl_675">11.6%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5669em;top:14.6156em;"><span class="stl_267 stl_08 stl_254">23.6%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.3419em;top:14.6156em;"><span class="stl_267 stl_08 stl_270">25.0%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.1238em;top:14.6156em;"><span class="stl_267 stl_08 stl_530">30.5%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.9538em;top:14.6156em;"><span class="stl_267 stl_08 stl_107">81.4%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.7775em;top:14.6156em;"><span class="stl_267 stl_08 stl_562">42.1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.5969em;top:14.6156em;"><span class="stl_267 stl_08 stl_853">81.1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.2925em;top:14.6156em;"><span class="stl_267 stl_08 stl_107">16.7%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.4025em;top:14.6156em;"><span class="stl_267 stl_08 stl_73">3.6%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.8125em;top:14.6156em;"><span class="stl_267 stl_08 stl_369">24.6%  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.9691em;"><span class="stl_264 stl_08 stl_335">Tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.8022em;"><span class="stl_202 stl_08 stl_147" style="word-spacing:-0.0377em;">Income tax comprises current tax and deferred tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.6353em;"><span class="stl_202 stl_08 stl_373" style="word-spacing:-0.0303em;">for the year, and is recognized as follows: The amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.4685em;"><span class="stl_202 stl_08 stl_59" style="word-spacing:-0.0387em;">that can be allocated to the net profit for the year is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3016em;"><span class="stl_202 stl_08 stl_175" style="word-spacing:-0.0364em;">recognized in the income statement, and the amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.1347em;"><span class="stl_202 stl_08 stl_409" style="word-spacing:-0.0315em;">that relates to items recognized in other comprehen-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.9678em;"><span class="stl_774 stl_08 stl_38" style="word-spacing:-0.0383em;">sive income and/or equity respectively is recognized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.801em;"><span class="stl_774 stl_08 stl_161" style="word-spacing:-0.0348em;">in other comprehensive income and/ or equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.4678em;"><span class="stl_202 stl_08 stl_215" style="word-spacing:-0.0316em;">Deferred tax is measured according to the balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:35.301em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.038em;">sheet-based liability method on all temporary differ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.1341em;"><span class="stl_202 stl_08 stl_17" style="word-spacing:-0.0439em;">ences between the carrying amount and tax base of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.9672em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0414em;">assets and liabilities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:6.9672em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">Deferred tax assets are recognized in the balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.8003em;"><span class="stl_202 stl_08 stl_250" style="word-spacing:-0.0428em;">sheet under non-current assets.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.4672em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">Deferred tax liabilities are recognized in the balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.3003em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0387em;">sheet under non-current liabilities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.9672em;"><span class="stl_202 stl_08 stl_312" style="word-spacing:-0.037em;">Deferred tax is measured on the basis of the tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.8003em;"><span class="stl_202 stl_08 stl_86" style="word-spacing:-0.0351em;">rules and tax rates that according to current legisla-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:13.6335em;"><span class="stl_202 stl_08 stl_339" style="word-spacing:-0.0359em;">tion at the balance sheet date will apply at the time of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.4666em;"><span class="stl_202 stl_08 stl_124" style="word-spacing:-0.0397em;">the expected realization of the deferred tax asset or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.2997em;"><span class="stl_202 stl_08 stl_149" style="word-spacing:-0.0382em;">settlement of the deferred tax liability. Any changes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.1328em;"><span class="stl_202 stl_08 stl_39" style="word-spacing:-0.0423em;">to deferred tax caused by changes in statutory tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.966em;"><span class="stl_202 stl_08 stl_162" style="word-spacing:-0.0334em;">rates are recognized in the income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:18.6328em;"><span class="stl_774 stl_08 stl_412" style="word-spacing:-0.0519em;">For Danish tax purposes, NNIT A/S and SCALES A/S  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.466em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">is assessed jointly with the Novo Group. Income tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.2991em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">is allocated between the companies in proportion to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.1322em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.038em;">their taxable incomes (full allocation with compen-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.9653em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0393em;">sation concerning tax losses). The jointly assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:22.7985em;"><span class="stl_202 stl_08 stl_67" style="word-spacing:-0.0297em;">companies are included in the Tax Prepayment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.6316em;"><span class="stl_202 stl_08 stl_245">Scheme.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.1019em;top:16.9061em;"><span class="stl_263 stl_08 stl_226">Lease  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.8557em;top:17.6561em;"><span class="stl_263 stl_08 stl_254">Intangible  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6838em;top:17.6561em;"><span class="stl_263 stl_08 stl_339">Tangible  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1957em;top:17.6561em;"><span class="stl_263 stl_08 stl_340">Current  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.4319em;top:17.6561em;"><span class="stl_263 stl_08 stl_243">receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.435em;top:17.6561em;"><span class="stl_263 stl_08 stl_234" style="word-spacing:-0.0375em;">Share based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.535em;top:17.6561em;"><span class="stl_263 stl_08 stl_399" style="word-spacing:-0.0492em;">Cash flow  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.4061em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.98em;top:18.4061em;"><span class="stl_263 stl_08 stl_218">assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2957em;top:18.4061em;"><span class="stl_263 stl_08 stl_218">assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.6113em;top:18.4061em;"><span class="stl_263 stl_08 stl_218">assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.855em;top:18.4061em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">and liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.2163em;top:18.4061em;"><span class="stl_263 stl_08 stl_411">programs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2844em;top:18.4061em;"><span class="stl_263 stl_08 stl_411">hedges  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.6707em;top:18.4061em;"><span class="stl_263 stl_08 stl_387">Provisions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.0619em;top:18.4061em;"><span class="stl_263 stl_08 stl_168" style="word-spacing:-0.0238em;">Tax losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9319em;top:18.4061em;"><span class="stl_263 stl_08 stl_419">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.0468em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.2474em;"><span class="stl_264 stl_08 stl_17" style="word-spacing:-0.0435em;">Deferred tax asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.198em;"><span class="stl_267 stl_08 stl_226" style="word-spacing:-0.0362em;">At the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27em;top:22.198em;"><span class="stl_267 stl_08 stl_337">(18)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.4757em;top:22.198em;"><span class="stl_267 stl_08 stl_721">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.8063em;top:22.198em;"><span class="stl_267 stl_08 stl_74">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.4619em;top:22.198em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:48.9332em;top:22.198em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.2482em;top:22.198em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0732em;top:22.198em;"><span class="stl_267 stl_08 stl_288">61  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.8782em;top:22.198em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6707em;top:22.198em;"><span class="stl_267 stl_08 stl_58">78  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.1486em;"><span class="stl_267 stl_08 stl_229" style="word-spacing:-0.0405em;">Transferred from taxes directly associated with assets and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.9818em;"><span class="stl_267 stl_08 stl_244" style="word-spacing:-0.0376em;">liabilities held for sale  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6732em;top:23.9818em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.3032em;top:23.9818em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.6182em;top:23.9818em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:48.9332em;top:23.9818em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.2482em;top:23.9818em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.5632em;top:23.9818em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.8782em;top:23.9818em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1932em;top:23.9818em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7251em;top:24.9324em;"><span class="stl_267 stl_08 stl_200" style="word-spacing:-0.0389em;">Adjustments related to previous years</span><sup style="top: -0.208em;"><span class="stl_281 stl_08 stl_854" style="word-spacing:-0.0667em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.3183em;top:24.9325em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.3258em;top:24.9325em;"><span class="stl_267 stl_08 stl_811">(12)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.1471em;top:24.9325em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.2652em;top:24.9325em;"><span class="stl_267 stl_08 stl_149">(6)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:48.9333em;top:24.9325em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.2483em;top:24.9325em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.4071em;top:24.9325em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.8783em;top:24.9325em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5664em;top:24.9325em;"><span class="stl_267 stl_08 stl_747">(11)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7252em;top:25.8831em;"><span class="stl_267 stl_08 stl_235" style="word-spacing:-0.0412em;">Movements within the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.0102em;top:25.8831em;"><span class="stl_267 stl_08 stl_716">(13)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6296em;top:25.8831em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.9496em;top:25.8831em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.1333em;top:25.8831em;"><span class="stl_267 stl_08 stl_818">13  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:48.9339em;top:25.8831em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.2489em;top:25.8831em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.8164em;top:25.8831em;"><span class="stl_267 stl_08 stl_90">(34)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.8789em;top:25.8831em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4646em;top:25.8831em;"><span class="stl_267 stl_08 stl_227">(39)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7258em;top:26.8337em;"><span class="stl_267 stl_08 stl_234" style="word-spacing:-0.0371em;">Movements in other comprehensive income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6746em;top:26.8337em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.9896em;top:26.8337em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.3046em;top:26.8337em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.6196em;top:26.8337em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:48.9346em;top:26.8337em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.2496em;top:26.8337em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.4083em;top:26.8337em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.8796em;top:26.8337em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0383em;top:26.8337em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7264em;top:27.7843em;"><span class="stl_264 stl_08 stl_186" style="word-spacing:-0.0316em;">At the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9021em;top:27.7843em;"><span class="stl_274 stl_08 stl_90">(33)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.8339em;top:27.7843em;"><span class="stl_274 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.7952em;top:27.7843em;"><span class="stl_274 stl_08 stl_50">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.1221em;top:27.7843em;"><span class="stl_274 stl_08 stl_825">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:48.9346em;top:27.7843em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.2496em;top:27.7843em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0389em;top:27.7843em;"><span class="stl_274 stl_08 stl_581">31  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.8796em;top:27.7843em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6589em;top:27.7843em;"><span class="stl_274 stl_08 stl_294">29  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.0078em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_204" style="word-spacing:-0.0511em;">ꢀAdjustments related to previous years is mainly regarding an adjustment of work in progress.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3965em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.5971em;"><span class="stl_264 stl_08 stl_17" style="word-spacing:-0.0435em;">Deferred tax asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.5478em;"><span class="stl_267 stl_08 stl_226" style="word-spacing:-0.0362em;">At the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.0107em;top:32.5478em;"><span class="stl_267 stl_08 stl_811">(12)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.9882em;top:32.5478em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.6357em;top:32.5478em;"><span class="stl_267 stl_08 stl_78">(19)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.1332em;top:32.5478em;"><span class="stl_267 stl_08 stl_819">12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:48.6226em;top:32.5478em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.2482em;top:32.5478em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0507em;top:32.5478em;"><span class="stl_267 stl_08 stl_721">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7219em;top:32.5478em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0369em;top:32.5478em;"><span class="stl_267 stl_08 stl_19">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7251em;top:33.4984em;"><span class="stl_267 stl_08 stl_229" style="word-spacing:-0.0406em;">Transferred from taxes directly associated with assets and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7251em;top:34.3315em;"><span class="stl_267 stl_08 stl_244" style="word-spacing:-0.0376em;">liabilities held for sale  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9988em;top:34.3315em;"><span class="stl_267 stl_08 stl_301">(15)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.4601em;top:34.3315em;"><span class="stl_267 stl_08 stl_351">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.6419em;top:34.3315em;"><span class="stl_267 stl_08 stl_811">(12)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.6194em;top:34.3315em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:48.9344em;top:34.3315em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.2494em;top:34.3315em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.4082em;top:34.3315em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.8795em;top:34.3315em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.7095em;top:34.3315em;"><span class="stl_267 stl_08 stl_819">12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:35.2821em;"><span class="stl_267 stl_08 stl_200" style="word-spacing:-0.0387em;">Adjustments related to previous years</span><sup style="top: -0.2078em;"><span class="stl_281 stl_08 stl_628" style="word-spacing:-0.0665em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.3183em;top:35.2825em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.9877em;top:35.2825em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.7689em;top:35.2825em;"><span class="stl_267 stl_08 stl_602">30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.6177em;top:35.2825em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:48.9327em;top:35.2825em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.2477em;top:35.2825em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.4064em;top:35.2825em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5233em;top:35.2825em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6658em;top:35.2825em;"><span class="stl_267 stl_08 stl_268">28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7246em;top:36.2331em;"><span class="stl_267 stl_08 stl_235" style="word-spacing:-0.0412em;">Movements within the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2008em;top:36.2331em;"><span class="stl_267 stl_08 stl_810">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.3258em;top:36.2331em;"><span class="stl_267 stl_08 stl_811">(12)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.8308em;top:36.2331em;"><span class="stl_267 stl_08 stl_810">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.2715em;top:36.2331em;"><span class="stl_267 stl_08 stl_462">(8)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:48.7765em;top:36.2331em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.2477em;top:36.2331em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.039em;top:36.2331em;"><span class="stl_267 stl_08 stl_227">32  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5346em;top:36.2331em;"><span class="stl_267 stl_08 stl_98">(4)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.679em;top:36.2331em;"><span class="stl_267 stl_08 stl_192">31  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7246em;top:37.1837em;"><span class="stl_267 stl_08 stl_234" style="word-spacing:-0.0371em;">Movements in other comprehensive income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6733em;top:37.1837em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.9883em;top:37.1837em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.3033em;top:37.1837em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.6183em;top:37.1837em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:48.9333em;top:37.1837em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.2483em;top:37.1837em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.5633em;top:37.1837em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.8783em;top:37.1837em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1933em;top:37.1837em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7252em;top:38.1343em;"><span class="stl_264 stl_08 stl_186" style="word-spacing:-0.0316em;">At the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9483em;top:38.1343em;"><span class="stl_274 stl_08 stl_378">(18)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.4608em;top:38.1343em;"><span class="stl_274 stl_08 stl_351">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.789em;top:38.1343em;"><span class="stl_274 stl_08 stl_462">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.4633em;top:38.1343em;"><span class="stl_274 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:48.934em;top:38.1343em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.249em;top:38.1343em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0577em;top:38.1343em;"><span class="stl_274 stl_08 stl_452">61  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.8783em;top:38.1343em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6608em;top:38.1343em;"><span class="stl_274 stl_08 stl_602">78  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7245em;top:39.3578em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_204" style="word-spacing:-0.0511em;">ꢀAdjustments related to previous years is mainly regarding an adjustment of work in progress.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:29.4674em;"><span class="stl_264 stl_08 stl_320" style="word-spacing:-0.0385em;">Intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:30.3005em;"><span class="stl_610 stl_08 stl_270">Goodwill  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:31.1336em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">Goodwill arising from business combinations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:31.9667em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0334em;">is recognized and measured as the difference  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:32.7999em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0376em;">between the total of the fair value of the considera-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:33.633em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">tion transferred compared to the fair value of identi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:34.4661em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0397em;">fiable net assets on the date of acquisition.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:36.133em;"><span class="stl_202 stl_08 stl_17" style="word-spacing:-0.0439em;">Goodwill is not amortized, but the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:36.9661em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0358em;">is tested at relevant cash generating unit level  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:37.7992em;z-index:4853;"><span class="stl_202 stl_08 stl_151" style="word-spacing:-0.0266em;">(CGU-level) for impairment once a year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">Goodwill is written down to its recoverable amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">through the income statement if lower than the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6378em;"><span class="stl_202 stl_08 stl_399" style="word-spacing:-0.0495em;">carrying amount.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3047em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">The recoverable amount is determined as the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1379em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">present value of the discounted future net cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.971em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">flow from the activities goodwill relates to. In calcu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.8041em;"><span class="stl_202 stl_08 stl_535" style="word-spacing:-0.0328em;">lating the present value, discount rates are applied  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6372em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.043em;">reflecting the riskfree interest rate with the addition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4703em;"><span class="stl_202 stl_08 stl_386" style="word-spacing:-0.0326em;">of risks relating to the individual CGU.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1372em;"><span class="stl_610 stl_08 stl_259" style="word-spacing:-0.0437em;">IT development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.9703em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0427em;">IT development projects are clearly specified and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8035em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0402em;">identifiable projects under development for internal  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6366em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">and external use for which the technical feasibility  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4697em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0366em;">of completing the development project has been  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3028em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">demonstrated and resources are available within  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_202 stl_08 stl_190">NNIT.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8028em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">Any development projects that do not meet the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.636em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">criteria for capitalization in the balance sheet are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4691em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">recognized as costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.136em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">Development costs meeting the criteria for capital-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.9691em;"><span class="stl_202 stl_08 stl_227" style="word-spacing:-0.0322em;">iztion are measured at cost less accumulated amor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.8022em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0392em;">tization and any impairment losses. Development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.6353em;"><span class="stl_202 stl_08 stl_658" style="word-spacing:-0.0453em;">costs include external expenses, salaries, amortiza-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.4685em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">tion and depreciation that can be directly attributed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3016em;"><span class="stl_202 stl_08 stl_308" style="word-spacing:-0.0447em;">to NNIT development activities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.9685em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">Development costs recognized in the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8016em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">are amortized from completion of the development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.6347em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0378em;">using the straight-line method, over the period the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.4678em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">asset is expected to generate economic benefits.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.1347em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.041em;">Straight-line amortization over the expected useful  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.9678em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0407em;">life of the asset:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:38.0372em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:38.0372em;"><span class="stl_202 stl_08 stl_34" style="word-spacing:-0.0322em;">IT projects: 5-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:6.9678em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">Intangible assets that are in use and subject to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.801em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">amortization are tested for impairment whenever  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:8.6341em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.042em;">events or changes in circumstances indicate that the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.4672em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">carrying amount may not be recoverable. Factors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.3004em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">that could trigger an impairment test include  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.1335em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">changes in the economic lifes of similar assets or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.9666em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">the relationship with other intangible assets or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.7997em;"><span class="stl_202 stl_08 stl_514" style="word-spacing:-0.0465em;">tangible assets.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.4666em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">Intangible assets under construction are tested for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.2997em;z-index:1606;"><span class="stl_202 stl_08 stl_174" style="word-spacing:-0.0235em;">impairment once a year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.9666em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0418em;">If the carrying amount of intangible assets exceeds  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.7997em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0365em;">the recoverable amount based upon the above indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:18.6328em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.038em;">cators of impairment, any impairment loss is meas-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.466em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">ured based on discounted future cash flows.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:26.961em;"><span class="stl_264 stl_08 stl_243" style="word-spacing:-0.0397em;">Cloud-based arrangements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:27.7941em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.0429em;">Software within a cloud-based arrangement is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:28.6272em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0385em;">recognised as an intangible asset.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:30.2941em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0378em;">Costs incurred to configure or customise, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:31.1272em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.033em;">the ongoing fees to obtain access to the cloud  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:31.9603em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0398em;">provider's application software, are recognised  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:32.7935em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">as expenses when the services are received. Also  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:33.6266em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">internal costs such as cost related to selection of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:34.4597em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.033em;">cloud provider, data conversion, training and testing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:35.2928em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">are expensed.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:36.9597em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0399em;">Configuration and customisation activities under-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:37.7928em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0374em;">taken in implementation of cloud based arrange-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:6.9597em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">ments may give rise to a separate asset related to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:7.7928em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">the development of software code that enhances,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:8.626em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0384em;">modifies or creates additional capabilities to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:9.4591em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0423em;">groups application. Costs incurred for these activi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:10.2922em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.039em;">ties are recognised as intangible assets if they meet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:11.1253em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0396em;">the recognition criteria and amortised over the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:11.9585em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">usefull life of the software.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:29.4674em;"><span class="stl_264 stl_08 stl_320" style="word-spacing:-0.0385em;">Intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:30.3005em;"><span class="stl_610 stl_08 stl_270">Goodwill  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:31.1336em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">Goodwill arising from business combinations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:31.9667em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0334em;">is recognized and measured as the difference  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:32.7999em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0376em;">between the total of the fair value of the considera-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:33.633em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">tion transferred compared to the fair value of identi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:34.4661em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0397em;">fiable net assets on the date of acquisition.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:36.133em;"><span class="stl_202 stl_08 stl_17" style="word-spacing:-0.0439em;">Goodwill is not amortized, but the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:36.9661em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0358em;">is tested at relevant cash generating unit level  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:37.7992em;z-index:4853;"><span class="stl_202 stl_08 stl_151" style="word-spacing:-0.0266em;">(CGU-level) for impairment once a year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">Goodwill is written down to its recoverable amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">through the income statement if lower than the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6378em;"><span class="stl_202 stl_08 stl_399" style="word-spacing:-0.0495em;">carrying amount.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3047em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">The recoverable amount is determined as the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1379em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">present value of the discounted future net cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.971em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">flow from the activities goodwill relates to. In calcu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.8041em;"><span class="stl_202 stl_08 stl_535" style="word-spacing:-0.0328em;">lating the present value, discount rates are applied  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6372em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.043em;">reflecting the riskfree interest rate with the addition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4703em;"><span class="stl_202 stl_08 stl_386" style="word-spacing:-0.0326em;">of risks relating to the individual CGU.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1372em;"><span class="stl_610 stl_08 stl_259" style="word-spacing:-0.0437em;">IT development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.9703em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0427em;">IT development projects are clearly specified and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8035em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0402em;">identifiable projects under development for internal  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6366em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">and external use for which the technical feasibility  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4697em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0366em;">of completing the development project has been  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3028em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">demonstrated and resources are available within  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_202 stl_08 stl_190">NNIT.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8028em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">Any development projects that do not meet the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.636em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">criteria for capitalization in the balance sheet are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4691em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">recognized as costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.136em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">Development costs meeting the criteria for capital-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.9691em;"><span class="stl_202 stl_08 stl_227" style="word-spacing:-0.0322em;">iztion are measured at cost less accumulated amor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.8022em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0392em;">tization and any impairment losses. Development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.6353em;"><span class="stl_202 stl_08 stl_658" style="word-spacing:-0.0453em;">costs include external expenses, salaries, amortiza-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.4685em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">tion and depreciation that can be directly attributed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3016em;"><span class="stl_202 stl_08 stl_308" style="word-spacing:-0.0447em;">to NNIT development activities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.9685em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">Development costs recognized in the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8016em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">are amortized from completion of the development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.6347em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0378em;">using the straight-line method, over the period the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.4678em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">asset is expected to generate economic benefits.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.1347em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.041em;">Straight-line amortization over the expected useful  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.9678em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0407em;">life of the asset:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:38.0372em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:38.0372em;"><span class="stl_202 stl_08 stl_34" style="word-spacing:-0.0322em;">IT projects: 5-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:6.9678em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">Intangible assets that are in use and subject to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.801em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">amortization are tested for impairment whenever  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:8.6341em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.042em;">events or changes in circumstances indicate that the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.4672em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">carrying amount may not be recoverable. Factors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.3004em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">that could trigger an impairment test include  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.1335em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">changes in the economic lifes of similar assets or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.9666em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">the relationship with other intangible assets or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.7997em;"><span class="stl_202 stl_08 stl_514" style="word-spacing:-0.0465em;">tangible assets.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.4666em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">Intangible assets under construction are tested for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.2997em;z-index:1606;"><span class="stl_202 stl_08 stl_174" style="word-spacing:-0.0235em;">impairment once a year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.9666em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0418em;">If the carrying amount of intangible assets exceeds  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.7997em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0365em;">the recoverable amount based upon the above indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:18.6328em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.038em;">cators of impairment, any impairment loss is meas-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.466em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">ured based on discounted future cash flows.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:26.961em;"><span class="stl_264 stl_08 stl_243" style="word-spacing:-0.0397em;">Cloud-based arrangements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:27.7941em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.0429em;">Software within a cloud-based arrangement is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:28.6272em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0385em;">recognised as an intangible asset.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:30.2941em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0378em;">Costs incurred to configure or customise, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:31.1272em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.033em;">the ongoing fees to obtain access to the cloud  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:31.9603em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0398em;">provider's application software, are recognised  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:32.7935em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">as expenses when the services are received. Also  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:33.6266em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">internal costs such as cost related to selection of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:34.4597em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.033em;">cloud provider, data conversion, training and testing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:35.2928em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">are expensed.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:36.9597em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0399em;">Configuration and customisation activities under-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:37.7928em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0374em;">taken in implementation of cloud based arrange-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:6.9597em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">ments may give rise to a separate asset related to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:7.7928em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">the development of software code that enhances,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:8.626em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0384em;">modifies or creates additional capabilities to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:9.4591em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0423em;">groups application. Costs incurred for these activi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:10.2922em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.039em;">ties are recognised as intangible assets if they meet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:11.1253em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0396em;">the recognition criteria and amortised over the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:11.9585em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">usefull life of the software.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3825em;"><span class="stl_527 stl_08 stl_198" style="word-spacing:0.2292em;">3.1 Intangible</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:10.221em;top:10.3825em;"><span class="stl_527 stl_08 stl_424">assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6182em;top:11.7029em;"><span class="stl_263 stl_08 stl_239">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.5075em;top:11.7029em;"><span class="stl_263 stl_08 stl_734">IT  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.0407em;top:11.7029em;"><span class="stl_263 stl_08 stl_246" style="word-spacing:-0.0396em;">IT development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3763em;top:12.4529em;"><span class="stl_263 stl_08 stl_256">intangible  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.0732em;top:12.4529em;"><span class="stl_263 stl_08 stl_236">development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.2982em;top:12.4529em;"><span class="stl_263 stl_08 stl_494" style="word-spacing:-0.0445em;">projects under  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.2029em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.0557em;top:13.2029em;"><span class="stl_263 stl_08 stl_268">Goodwill  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.4832em;top:13.2029em;"><span class="stl_263 stl_08 stl_218">assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.5932em;top:13.2029em;"><span class="stl_263 stl_08 stl_491">projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.8938em;top:13.2029em;"><span class="stl_263 stl_08 stl_303">construction  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.8888em;top:13.2029em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7232em;top:14.8667em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7232em;top:16.1267em;"><span class="stl_267 stl_08 stl_200" style="word-spacing:-0.0394em;">Costs at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5982em;top:16.1267em;"><span class="stl_267 stl_08 stl_734">686  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6532em;top:16.1267em;"><span class="stl_267 stl_08 stl_58">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6888em;top:16.1267em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0263em;top:16.1267em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2975em;top:16.1267em;"><span class="stl_267 stl_08 stl_288">7</span><span class="stl_267 stl_08 stl_287">4</span><span class="stl_267 stl_08 stl_287">4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7232em;top:17.1367em;"><span class="stl_267 stl_08 stl_320">Additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5063em;top:17.1367em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1757em;top:17.1367em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.845em;top:17.1367em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0225em;top:17.1367em;"><span class="stl_267 stl_08 stl_45">51  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6919em;top:17.1367em;"><span class="stl_267 stl_08 stl_45">51  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7232em;top:18.1467em;"><span class="stl_267 stl_08 stl_121">Disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5063em;top:18.1467em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4507em;top:18.1467em;"><span class="stl_267 stl_08 stl_181">(20)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.4857em;top:18.1467em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5144em;top:18.1467em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.45em;top:18.1467em;"><span class="stl_267 stl_08 stl_255">(23)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7232em;top:19.1567em;"><span class="stl_267 stl_08 stl_31">Transfer  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5063em;top:19.1567em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1757em;top:19.1567em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3132em;top:19.1567em;"><span class="stl_267 stl_08 stl_506">58  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.785em;top:19.1567em;"><span class="stl_267 stl_08 stl_215">(58)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.1838em;top:19.1567em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:20.1667em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0382em;">Exchange rate adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.0188em;top:20.1667em;"><span class="stl_267 stl_08 stl_816">19  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.02em;top:20.1667em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8457em;top:20.1667em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.3588em;top:20.1667em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6719em;top:20.1667em;"><span class="stl_267 stl_08 stl_721">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:21.1767em;"><span class="stl_264 stl_08 stl_492" style="word-spacing:-0.0338em;">Cost at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5969em;top:21.1767em;"><span class="stl_274 stl_08 stl_544">705  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6638em;top:21.1767em;"><span class="stl_274 stl_08 stl_192">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3394em;top:21.1767em;"><span class="stl_274 stl_08 stl_452">61  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.3588em;top:21.1767em;"><span class="stl_274 stl_08 stl_19">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2775em;top:21.1767em;"><span class="stl_274 stl_08 stl_582">793  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:22.7817em;"><span class="stl_267 stl_08 stl_230" style="word-spacing:-0.0407em;">Amortization and impairment loss at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5069em;top:22.7817em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6538em;top:22.7817em;"><span class="stl_267 stl_08 stl_58">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6894em;top:22.7817em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.515em;top:22.7817em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6432em;top:22.7817em;"><span class="stl_267 stl_08 stl_851">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:23.7917em;"><span class="stl_267 stl_08 stl_90">Amortization  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5069em;top:23.7917em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1763em;top:23.7917em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6894em;top:23.7917em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.515em;top:23.7917em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.0282em;top:23.7917em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.8017em;"><span class="stl_267 stl_08 stl_270" style="word-spacing:-0.0442em;">Amortizations reversed on disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5075em;top:24.8017em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4519em;top:24.8017em;"><span class="stl_267 stl_08 stl_181">(20)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.5357em;top:24.8017em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5157em;top:24.8017em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.4975em;top:24.8017em;"><span class="stl_267 stl_08 stl_798">(21)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:25.8117em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0382em;">Exchange rate adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5082em;top:25.8117em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0213em;top:25.8117em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8469em;top:25.8117em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5163em;top:25.8117em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.0294em;top:25.8117em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:26.8217em;"><span class="stl_264 stl_08 stl_245" style="word-spacing:-0.0354em;">Amortization and impairment losses at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5088em;top:26.8217em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6657em;top:26.8217em;"><span class="stl_274 stl_08 stl_192">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6919em;top:26.8217em;"><span class="stl_274 stl_08 stl_19">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5169em;top:26.8217em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6532em;top:26.8217em;"><span class="stl_274 stl_08 stl_289">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:28.4267em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.0349em;">Carrying amount at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5988em;top:28.4267em;"><span class="stl_274 stl_08 stl_544">705  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1782em;top:28.4267em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3138em;top:28.4267em;"><span class="stl_274 stl_08 stl_307">53  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.3613em;top:28.4267em;"><span class="stl_274 stl_08 stl_19">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2919em;top:28.4267em;"><span class="stl_274 stl_08 stl_256">767  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:30.0317em;"><span class="stl_267 stl_08 stl_484" style="word-spacing:-0.0483em;">Amortization period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.6719em;top:30.0317em;"><span class="stl_267 stl_08 stl_369" style="word-spacing:-0.0333em;">2-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.0063em;top:30.0317em;"><span class="stl_267 stl_08 stl_38" style="word-spacing:-0.0182em;">3-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:31.6429em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.04em;">IT development projects includes NNIT's ERP system which is used as the basis for the Group's day-to-day operations and internal IT-systems  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.1988em;top:32.4761em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0408em;">and developed applications for customer services.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:33.3092em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0416em;">IT development projects under construction consists of both internal IT-systems and developed applications for customer services.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6182em;top:6.9785em;"><span class="stl_263 stl_08 stl_239">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.5075em;top:6.9785em;"><span class="stl_263 stl_08 stl_734">IT  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.0407em;top:6.9785em;"><span class="stl_263 stl_08 stl_246" style="word-spacing:-0.0396em;">IT development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3763em;top:7.7285em;"><span class="stl_263 stl_08 stl_256">intangible  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.0732em;top:7.7285em;"><span class="stl_263 stl_08 stl_236">development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.2982em;top:7.7285em;"><span class="stl_263 stl_08 stl_494" style="word-spacing:-0.0445em;">projects under  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.4785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.0557em;top:8.4785em;"><span class="stl_263 stl_08 stl_268">Goodwill  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.4832em;top:8.4785em;"><span class="stl_263 stl_08 stl_218">assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.5932em;top:8.4785em;"><span class="stl_263 stl_08 stl_491">projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.8938em;top:8.4785em;"><span class="stl_263 stl_08 stl_303">construction  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.8919em;top:8.4785em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7225em;top:10.1423em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7225em;top:11.4023em;"><span class="stl_267 stl_08 stl_200" style="word-spacing:-0.0394em;">Costs at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.61em;top:11.4023em;"><span class="stl_267 stl_08 stl_247">696  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6525em;top:11.4023em;"><span class="stl_267 stl_08 stl_58">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3244em;top:11.4023em;"><span class="stl_267 stl_08 stl_149">67  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.3575em;top:11.4023em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2857em;top:11.4023em;"><span class="stl_267 stl_08 stl_532">802  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7225em;top:12.4123em;"><span class="stl_267 stl_08 stl_320">Additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5057em;top:12.4123em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.175em;top:12.4123em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6882em;top:12.4123em;"><span class="stl_267 stl_08 stl_19">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0257em;top:12.4123em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6619em;top:12.4123em;"><span class="stl_267 stl_08 stl_112">24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7225em;top:13.4223em;"><span class="stl_267 stl_08 stl_340">Disposals</span><sup style="top: -0.2087em;"><span class="stl_281 stl_08 stl_855">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5076em;top:13.4217em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:13.4217em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.1019em;top:13.4217em;"><span class="stl_267 stl_08 stl_523">(72)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5157em;top:13.4217em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.4407em;top:13.4217em;"><span class="stl_267 stl_08 stl_523">(72)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4317em;"><span class="stl_267 stl_08 stl_31">Transfer  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5076em;top:14.4317em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:14.4317em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.69em;top:14.4317em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.1607em;top:14.4317em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.1844em;top:14.4317em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.4417em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0381em;">Exchange rate adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8282em;top:15.4417em;"><span class="stl_267 stl_08 stl_570">(10)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:15.4417em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8463em;top:15.4417em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5157em;top:15.4417em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.5057em;top:15.4417em;"><span class="stl_267 stl_08 stl_570">(10)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:16.4517em;"><span class="stl_264 stl_08 stl_492" style="word-spacing:-0.0338em;">Cost at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5857em;top:16.4517em;"><span class="stl_274 stl_08 stl_459">686  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6425em;top:16.4517em;"><span class="stl_274 stl_08 stl_353">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6913em;top:16.4517em;"><span class="stl_274 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0051em;top:16.4517em;"><span class="stl_274 stl_08 stl_379">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2888em;top:16.4517em;"><span class="stl_274 stl_08 stl_305">744  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7251em;top:18.0567em;"><span class="stl_267 stl_08 stl_230" style="word-spacing:-0.0407em;">Amortization and impairment loss at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5082em;top:18.0567em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6551em;top:18.0567em;"><span class="stl_267 stl_08 stl_58">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3326em;top:18.0567em;"><span class="stl_267 stl_08 stl_421">59  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5163em;top:18.0567em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6532em;top:18.0567em;"><span class="stl_267 stl_08 stl_734">96  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:19.0667em;"><span class="stl_267 stl_08 stl_90">Amortization  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5088em;top:19.0667em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1782em;top:19.0667em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8476em;top:19.0667em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5169em;top:19.0667em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.1863em;top:19.0667em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:20.0767em;"><span class="stl_267 stl_08 stl_270" style="word-spacing:-0.0442em;">Amortizations reversed on disposals</span><sup style="top: -0.2096em;"><span class="stl_281 stl_08 stl_595" style="word-spacing:-0.0758em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5076em;top:20.0752em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:20.0752em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.1107em;top:20.0752em;"><span class="stl_267 stl_08 stl_228">(56)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5151em;top:20.0752em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.4488em;top:20.0752em;"><span class="stl_267 stl_08 stl_228">(56)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:21.0852em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0381em;">Exchange rate adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5069em;top:21.0852em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1763em;top:21.0852em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8457em;top:21.0852em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5151em;top:21.0852em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.1844em;top:21.0852em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:22.0952em;"><span class="stl_264 stl_08 stl_245" style="word-spacing:-0.0354em;">Amortization and impairment losses at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5069em;top:22.0952em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6413em;top:22.0952em;"><span class="stl_274 stl_08 stl_353">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6901em;top:22.0952em;"><span class="stl_274 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5151em;top:22.0952em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6401em;top:22.0952em;"><span class="stl_274 stl_08 stl_748">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:23.7002em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.0349em;">Carrying amount at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5844em;top:23.7002em;"><span class="stl_274 stl_08 stl_459">686  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1763em;top:23.7002em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6901em;top:23.7002em;"><span class="stl_274 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0038em;top:23.7002em;"><span class="stl_274 stl_08 stl_379">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2676em;top:23.7002em;"><span class="stl_274 stl_08 stl_292">704  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:25.3052em;"><span class="stl_267 stl_08 stl_484" style="word-spacing:-0.0483em;">Amortization period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.6694em;top:25.3052em;"><span class="stl_267 stl_08 stl_369" style="word-spacing:-0.0333em;">2-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.0038em;top:25.3052em;"><span class="stl_267 stl_08 stl_38" style="word-spacing:-0.0182em;">3-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.7996em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_332" style="word-spacing:-0.0474em;">ꢀWhereof DKK 26 Million relates to discontinued operations.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.3829em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_421">2</span></sup><span class="stl_350 stl_08 stl_356" style="word-spacing:-0.0471em;">- Whereof DKK 10 Million relates to discontinued operations.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.7913em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.04em;">IT development projects includes NNIT's ERP system which is used as the basis for the Group's day-to-day operations and internal IT-systems  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.6244em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0408em;">and developed applications for customer services.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.2913em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0416em;">IT development projects under construction consists of both internal IT-systems and developed applications for customer services.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:29.4674em;"><span class="stl_264 stl_08 stl_320" style="word-spacing:-0.0385em;">Intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:30.3005em;"><span class="stl_610 stl_08 stl_270">Goodwill  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:31.1336em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">Goodwill arising from business combinations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:31.9667em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0334em;">is recognized and measured as the difference  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:32.7999em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0376em;">between the total of the fair value of the considera-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:33.633em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">tion transferred compared to the fair value of identi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:34.4661em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0397em;">fiable net assets on the date of acquisition.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:36.133em;"><span class="stl_202 stl_08 stl_17" style="word-spacing:-0.0439em;">Goodwill is not amortized, but the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:36.9661em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0358em;">is tested at relevant cash generating unit level  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:37.7992em;z-index:4853;"><span class="stl_202 stl_08 stl_151" style="word-spacing:-0.0266em;">(CGU-level) for impairment once a year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">Goodwill is written down to its recoverable amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">through the income statement if lower than the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6378em;"><span class="stl_202 stl_08 stl_399" style="word-spacing:-0.0495em;">carrying amount.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3047em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">The recoverable amount is determined as the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1379em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">present value of the discounted future net cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.971em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">flow from the activities goodwill relates to. In calcu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.8041em;"><span class="stl_202 stl_08 stl_535" style="word-spacing:-0.0328em;">lating the present value, discount rates are applied  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6372em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.043em;">reflecting the riskfree interest rate with the addition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4703em;"><span class="stl_202 stl_08 stl_386" style="word-spacing:-0.0326em;">of risks relating to the individual CGU.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3825em;"><span class="stl_527 stl_08 stl_198" style="word-spacing:0.2292em;">3.1 Intangible</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:10.221em;top:10.3825em;"><span class="stl_527 stl_08 stl_424">assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6182em;top:11.7029em;"><span class="stl_263 stl_08 stl_239">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.5075em;top:11.7029em;"><span class="stl_263 stl_08 stl_734">IT  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.0407em;top:11.7029em;"><span class="stl_263 stl_08 stl_246" style="word-spacing:-0.0396em;">IT development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3763em;top:12.4529em;"><span class="stl_263 stl_08 stl_256">intangible  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.0732em;top:12.4529em;"><span class="stl_263 stl_08 stl_236">development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.2982em;top:12.4529em;"><span class="stl_263 stl_08 stl_494" style="word-spacing:-0.0445em;">projects under  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.2029em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.0557em;top:13.2029em;"><span class="stl_263 stl_08 stl_268">Goodwill  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.4832em;top:13.2029em;"><span class="stl_263 stl_08 stl_218">assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.5932em;top:13.2029em;"><span class="stl_263 stl_08 stl_491">projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.8938em;top:13.2029em;"><span class="stl_263 stl_08 stl_303">construction  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.8888em;top:13.2029em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7232em;top:14.8667em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7232em;top:16.1267em;"><span class="stl_267 stl_08 stl_200" style="word-spacing:-0.0394em;">Costs at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5982em;top:16.1267em;"><span class="stl_267 stl_08 stl_734">686  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6532em;top:16.1267em;"><span class="stl_267 stl_08 stl_58">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6888em;top:16.1267em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0263em;top:16.1267em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2975em;top:16.1267em;"><span class="stl_267 stl_08 stl_288">7</span><span class="stl_267 stl_08 stl_287">4</span><span class="stl_267 stl_08 stl_287">4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7232em;top:17.1367em;"><span class="stl_267 stl_08 stl_320">Additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5063em;top:17.1367em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1757em;top:17.1367em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.845em;top:17.1367em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0225em;top:17.1367em;"><span class="stl_267 stl_08 stl_45">51  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6919em;top:17.1367em;"><span class="stl_267 stl_08 stl_45">51  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7232em;top:18.1467em;"><span class="stl_267 stl_08 stl_121">Disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5063em;top:18.1467em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4507em;top:18.1467em;"><span class="stl_267 stl_08 stl_181">(20)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.4857em;top:18.1467em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5144em;top:18.1467em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.45em;top:18.1467em;"><span class="stl_267 stl_08 stl_255">(23)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7232em;top:19.1567em;"><span class="stl_267 stl_08 stl_31">Transfer  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5063em;top:19.1567em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1757em;top:19.1567em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3132em;top:19.1567em;"><span class="stl_267 stl_08 stl_506">58  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.785em;top:19.1567em;"><span class="stl_267 stl_08 stl_215">(58)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.1838em;top:19.1567em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:20.1667em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0382em;">Exchange rate adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.0188em;top:20.1667em;"><span class="stl_267 stl_08 stl_816">19  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.02em;top:20.1667em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8457em;top:20.1667em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.3588em;top:20.1667em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6719em;top:20.1667em;"><span class="stl_267 stl_08 stl_721">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:21.1767em;"><span class="stl_264 stl_08 stl_492" style="word-spacing:-0.0338em;">Cost at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5969em;top:21.1767em;"><span class="stl_274 stl_08 stl_544">705  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6638em;top:21.1767em;"><span class="stl_274 stl_08 stl_192">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3394em;top:21.1767em;"><span class="stl_274 stl_08 stl_452">61  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.3588em;top:21.1767em;"><span class="stl_274 stl_08 stl_19">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2775em;top:21.1767em;"><span class="stl_274 stl_08 stl_582">793  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:22.7817em;"><span class="stl_267 stl_08 stl_230" style="word-spacing:-0.0407em;">Amortization and impairment loss at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5069em;top:22.7817em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6538em;top:22.7817em;"><span class="stl_267 stl_08 stl_58">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6894em;top:22.7817em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.515em;top:22.7817em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6432em;top:22.7817em;"><span class="stl_267 stl_08 stl_851">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:23.7917em;"><span class="stl_267 stl_08 stl_90">Amortization  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5069em;top:23.7917em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1763em;top:23.7917em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6894em;top:23.7917em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.515em;top:23.7917em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.0282em;top:23.7917em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.8017em;"><span class="stl_267 stl_08 stl_270" style="word-spacing:-0.0442em;">Amortizations reversed on disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5075em;top:24.8017em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4519em;top:24.8017em;"><span class="stl_267 stl_08 stl_181">(20)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.5357em;top:24.8017em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5157em;top:24.8017em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.4975em;top:24.8017em;"><span class="stl_267 stl_08 stl_798">(21)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:25.8117em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0382em;">Exchange rate adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5082em;top:25.8117em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0213em;top:25.8117em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8469em;top:25.8117em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5163em;top:25.8117em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.0294em;top:25.8117em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:26.8217em;"><span class="stl_264 stl_08 stl_245" style="word-spacing:-0.0354em;">Amortization and impairment losses at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5088em;top:26.8217em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6657em;top:26.8217em;"><span class="stl_274 stl_08 stl_192">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6919em;top:26.8217em;"><span class="stl_274 stl_08 stl_19">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5169em;top:26.8217em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6532em;top:26.8217em;"><span class="stl_274 stl_08 stl_289">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:28.4267em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.0349em;">Carrying amount at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5988em;top:28.4267em;"><span class="stl_274 stl_08 stl_544">705  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1782em;top:28.4267em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3138em;top:28.4267em;"><span class="stl_274 stl_08 stl_307">53  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.3613em;top:28.4267em;"><span class="stl_274 stl_08 stl_19">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2919em;top:28.4267em;"><span class="stl_274 stl_08 stl_256">767  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:30.0317em;"><span class="stl_267 stl_08 stl_484" style="word-spacing:-0.0483em;">Amortization period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.6719em;top:30.0317em;"><span class="stl_267 stl_08 stl_369" style="word-spacing:-0.0333em;">2-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.0063em;top:30.0317em;"><span class="stl_267 stl_08 stl_38" style="word-spacing:-0.0182em;">3-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:31.6429em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.04em;">IT development projects includes NNIT's ERP system which is used as the basis for the Group's day-to-day operations and internal IT-systems  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.1988em;top:32.4761em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0408em;">and developed applications for customer services.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:33.3092em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0416em;">IT development projects under construction consists of both internal IT-systems and developed applications for customer services.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6182em;top:6.9785em;"><span class="stl_263 stl_08 stl_239">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.5075em;top:6.9785em;"><span class="stl_263 stl_08 stl_734">IT  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.0407em;top:6.9785em;"><span class="stl_263 stl_08 stl_246" style="word-spacing:-0.0396em;">IT development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3763em;top:7.7285em;"><span class="stl_263 stl_08 stl_256">intangible  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.0732em;top:7.7285em;"><span class="stl_263 stl_08 stl_236">development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.2982em;top:7.7285em;"><span class="stl_263 stl_08 stl_494" style="word-spacing:-0.0445em;">projects under  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.4785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.0557em;top:8.4785em;"><span class="stl_263 stl_08 stl_268">Goodwill  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.4832em;top:8.4785em;"><span class="stl_263 stl_08 stl_218">assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.5932em;top:8.4785em;"><span class="stl_263 stl_08 stl_491">projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.8938em;top:8.4785em;"><span class="stl_263 stl_08 stl_303">construction  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.8919em;top:8.4785em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7225em;top:10.1423em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7225em;top:11.4023em;"><span class="stl_267 stl_08 stl_200" style="word-spacing:-0.0394em;">Costs at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.61em;top:11.4023em;"><span class="stl_267 stl_08 stl_247">696  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6525em;top:11.4023em;"><span class="stl_267 stl_08 stl_58">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3244em;top:11.4023em;"><span class="stl_267 stl_08 stl_149">67  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.3575em;top:11.4023em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2857em;top:11.4023em;"><span class="stl_267 stl_08 stl_532">802  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7225em;top:12.4123em;"><span class="stl_267 stl_08 stl_320">Additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5057em;top:12.4123em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.175em;top:12.4123em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6882em;top:12.4123em;"><span class="stl_267 stl_08 stl_19">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0257em;top:12.4123em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6619em;top:12.4123em;"><span class="stl_267 stl_08 stl_112">24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7225em;top:13.4223em;"><span class="stl_267 stl_08 stl_340">Disposals</span><sup style="top: -0.2087em;"><span class="stl_281 stl_08 stl_855">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5076em;top:13.4217em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:13.4217em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.1019em;top:13.4217em;"><span class="stl_267 stl_08 stl_523">(72)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5157em;top:13.4217em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.4407em;top:13.4217em;"><span class="stl_267 stl_08 stl_523">(72)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4317em;"><span class="stl_267 stl_08 stl_31">Transfer  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5076em;top:14.4317em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:14.4317em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.69em;top:14.4317em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.1607em;top:14.4317em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.1844em;top:14.4317em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.4417em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0381em;">Exchange rate adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8282em;top:15.4417em;"><span class="stl_267 stl_08 stl_570">(10)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:15.4417em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8463em;top:15.4417em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5157em;top:15.4417em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.5057em;top:15.4417em;"><span class="stl_267 stl_08 stl_570">(10)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:16.4517em;"><span class="stl_264 stl_08 stl_492" style="word-spacing:-0.0338em;">Cost at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5857em;top:16.4517em;"><span class="stl_274 stl_08 stl_459">686  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6425em;top:16.4517em;"><span class="stl_274 stl_08 stl_353">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6913em;top:16.4517em;"><span class="stl_274 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0051em;top:16.4517em;"><span class="stl_274 stl_08 stl_379">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2888em;top:16.4517em;"><span class="stl_274 stl_08 stl_305">744  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7251em;top:18.0567em;"><span class="stl_267 stl_08 stl_230" style="word-spacing:-0.0407em;">Amortization and impairment loss at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5082em;top:18.0567em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6551em;top:18.0567em;"><span class="stl_267 stl_08 stl_58">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3326em;top:18.0567em;"><span class="stl_267 stl_08 stl_421">59  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5163em;top:18.0567em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6532em;top:18.0567em;"><span class="stl_267 stl_08 stl_734">96  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:19.0667em;"><span class="stl_267 stl_08 stl_90">Amortization  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5088em;top:19.0667em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1782em;top:19.0667em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8476em;top:19.0667em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5169em;top:19.0667em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.1863em;top:19.0667em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:20.0767em;"><span class="stl_267 stl_08 stl_270" style="word-spacing:-0.0442em;">Amortizations reversed on disposals</span><sup style="top: -0.2096em;"><span class="stl_281 stl_08 stl_595" style="word-spacing:-0.0758em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5076em;top:20.0752em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:20.0752em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.1107em;top:20.0752em;"><span class="stl_267 stl_08 stl_228">(56)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5151em;top:20.0752em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.4488em;top:20.0752em;"><span class="stl_267 stl_08 stl_228">(56)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:21.0852em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0381em;">Exchange rate adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5069em;top:21.0852em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1763em;top:21.0852em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8457em;top:21.0852em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5151em;top:21.0852em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.1844em;top:21.0852em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:22.0952em;"><span class="stl_264 stl_08 stl_245" style="word-spacing:-0.0354em;">Amortization and impairment losses at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5069em;top:22.0952em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6413em;top:22.0952em;"><span class="stl_274 stl_08 stl_353">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6901em;top:22.0952em;"><span class="stl_274 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5151em;top:22.0952em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6401em;top:22.0952em;"><span class="stl_274 stl_08 stl_748">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:23.7002em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.0349em;">Carrying amount at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5844em;top:23.7002em;"><span class="stl_274 stl_08 stl_459">686  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1763em;top:23.7002em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6901em;top:23.7002em;"><span class="stl_274 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0038em;top:23.7002em;"><span class="stl_274 stl_08 stl_379">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2676em;top:23.7002em;"><span class="stl_274 stl_08 stl_292">704  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:25.3052em;"><span class="stl_267 stl_08 stl_484" style="word-spacing:-0.0483em;">Amortization period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.6694em;top:25.3052em;"><span class="stl_267 stl_08 stl_369" style="word-spacing:-0.0333em;">2-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.0038em;top:25.3052em;"><span class="stl_267 stl_08 stl_38" style="word-spacing:-0.0182em;">3-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.7996em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_332" style="word-spacing:-0.0474em;">ꢀWhereof DKK 26 Million relates to discontinued operations.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.3829em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_421">2</span></sup><span class="stl_350 stl_08 stl_356" style="word-spacing:-0.0471em;">- Whereof DKK 10 Million relates to discontinued operations.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.7913em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.04em;">IT development projects includes NNIT's ERP system which is used as the basis for the Group's day-to-day operations and internal IT-systems  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.6244em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0408em;">and developed applications for customer services.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.2913em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0416em;">IT development projects under construction consists of both internal IT-systems and developed applications for customer services.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_183" style="word-spacing:0.0396em;">3.2 Impairment test  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_264 stl_08 stl_253" style="word-spacing:-0.0385em;">Re-allocation of goodwill  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.9305em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">In 2024 the Group has made a change in the organisational structure and internal reporting, resulting in a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.7637em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">DKK5m re-allocation of goodwill from Region US to Region Europe. No risk of impairment was identified prior to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.5968em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">the re-allocation of goodwill.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.2637em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0352em;">Impairment test  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.0968em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0366em;">The carrying amount of goodwill is impairment tested by comparison to the recoverable amount. The recover-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.9299em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0338em;">able amount is determined based on value in use. Discounted cash flow models have been applied to deter-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.763em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">mine the value in use for the cash-generating units, based on the most recent financial forecasts approved  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.5962em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">by management. The CGU’s are in all material aspects subject to the same presumptions hence below is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.4293em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">applicable for all CGU’s. When determining value in use the post-tax discount rate has been used. The pre-tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.2624em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0332em;">discount rate is for information purposes only. Net cash flows for the year 2025-2029 are determined based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.0955em;"><span class="stl_202 stl_08 stl_309" style="word-spacing:-0.0433em;">key assumptions and expectations and estimates based on growth and profit margin expectations based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.9287em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0385em;">past experience and in accordance with NNIT business plans. From 2029 onwards, NNIT expects the growth  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.7618em;"><span class="stl_202 stl_08 stl_235" style="word-spacing:-0.0415em;">rate to remain in line with the expected longterm average growth rate for the industry. The uncertainty associ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.5949em;"><span class="stl_202 stl_08 stl_309" style="word-spacing:-0.0431em;">ated with these expectations is reflected in the discount rate used.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.2618em;"><span class="stl_202 stl_08 stl_73" style="word-spacing:-0.0325em;">Goodwill has been tested for impairment at December 31, 2024. The impairment test did not result in any  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.0949em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">impairment of the carrying amount. The key assumptions used are stated in the following (DKK million).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.8814em;"><span class="stl_264 stl_08 stl_178">CGU</span><sup style="top: -0.2081em;"><span class="stl_837 stl_08 stl_203">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.7975em;top:24.3596em;"><span class="stl_263 stl_08 stl_243">Annual  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.7588em;top:24.3596em;"><span class="stl_263 stl_08 stl_117">Terminal  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.845em;top:25.1096em;"><span class="stl_263 stl_08 stl_326">Carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.4575em;top:25.1096em;"><span class="stl_263 stl_08 stl_120">revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.7494em;top:25.1096em;"><span class="stl_263 stl_08 stl_387">Discount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.2375em;top:25.1096em;"><span class="stl_263 stl_08 stl_387">Discount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.4032em;top:25.1096em;"><span class="stl_263 stl_08 stl_242">period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.8596em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.0738em;top:25.8596em;"><span class="stl_263 stl_08 stl_226">amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.3894em;top:25.8596em;"><span class="stl_263 stl_08 stl_523" style="word-spacing:-0.048em;">growth rate</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.838em;top:25.8596em;"><span class="stl_263 stl_08 stl_303" style="word-spacing:-0.0479em;">rate pre-tax</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.037em;top:25.8596em;"><span class="stl_263 stl_08 stl_530" style="word-spacing:-0.0426em;">rate post-tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.8538em;top:25.8596em;"><span class="stl_263 stl_08 stl_523" style="word-spacing:-0.048em;">growth rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.4646em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.8334em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0378em;">Region Denmark  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.4219em;top:28.8334em;"><span class="stl_267 stl_08 stl_285">113  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.415em;top:28.8334em;"><span class="stl_267 stl_08 stl_856">4-9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.6132em;top:28.8334em;"><span class="stl_267 stl_08 stl_231">9,06%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1088em;top:28.8334em;"><span class="stl_267 stl_08 stl_424">8,97%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.495em;top:28.8334em;"><span class="stl_267 stl_08 stl_340">2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:29.7252em;"><span class="stl_267 stl_08 stl_73" style="word-spacing:-0.0324em;">Region Europe  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.3275em;top:29.7252em;"><span class="stl_267 stl_08 stl_256">272  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.1369em;top:29.7252em;"><span class="stl_267 stl_08 stl_224">8-14%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.6175em;top:29.7252em;"><span class="stl_267 stl_08 stl_387">9,35%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1019em;top:29.7252em;"><span class="stl_267 stl_08 stl_201">9,25%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.495em;top:29.7252em;"><span class="stl_267 stl_08 stl_340">2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:30.6171em;"><span class="stl_267 stl_08 stl_531" style="word-spacing:-0.0342em;">Region US  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.3344em;top:30.6171em;"><span class="stl_267 stl_08 stl_58">320  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.175em;top:30.6171em;"><span class="stl_267 stl_08 stl_857">7-14%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.25em;top:30.6171em;"><span class="stl_267 stl_08 stl_492">10,46%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.745em;top:30.6171em;"><span class="stl_267 stl_08 stl_173">10,32%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4944em;top:30.6171em;"><span class="stl_267 stl_08 stl_340">2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.171em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_344" style="word-spacing:-0.0527em;">ꢀA DKK5m re-allocation of goodwill has been made from Region US to Region Europe. The difference in the carrying amount compared to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.1968em;top:32.7545em;"><span class="stl_350 stl_08 stl_428" style="word-spacing:-0.0473em;">last year is due to changes in exchange rates.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:7.2078em;"><span class="stl_264 stl_08 stl_178">CGU</span><sup style="top: -0.2081em;"><span class="stl_837 stl_08 stl_203">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.8133em;top:7.686em;"><span class="stl_263 stl_08 stl_243">Annual  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:67.7745em;top:7.686em;"><span class="stl_263 stl_08 stl_117">Terminal  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.8608em;top:8.436em;"><span class="stl_263 stl_08 stl_326">Carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.4733em;top:8.436em;"><span class="stl_263 stl_08 stl_120">revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.7652em;top:8.436em;"><span class="stl_263 stl_08 stl_387">Discount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.2533em;top:8.436em;"><span class="stl_263 stl_08 stl_387">Discount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.4189em;top:8.436em;"><span class="stl_263 stl_08 stl_242">period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.186em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:50.0895em;top:9.186em;"><span class="stl_263 stl_08 stl_226">amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.4052em;top:9.186em;"><span class="stl_263 stl_08 stl_303" style="word-spacing:-0.0477em;">growth rate</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.851em;top:9.186em;"><span class="stl_263 stl_08 stl_303" style="word-spacing:-0.0479em;">rate pre-tax</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.050em;top:9.186em;"><span class="stl_263 stl_08 stl_425" style="word-spacing:-0.0428em;">rate post-tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8695em;top:9.186em;"><span class="stl_263 stl_08 stl_523" style="word-spacing:-0.048em;">growth rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.791em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.1598em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0378em;">Region Denmark  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.4377em;top:12.1598em;"><span class="stl_267 stl_08 stl_285">113  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.4664em;top:12.1598em;"><span class="stl_267 stl_08 stl_369">2-9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.6383em;top:12.1598em;"><span class="stl_267 stl_08 stl_10">10.8%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4683em;top:12.1598em;"><span class="stl_267 stl_08 stl_17">8.4%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5108em;top:12.1598em;"><span class="stl_267 stl_08 stl_340">2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7396em;top:13.0517em;"><span class="stl_267 stl_08 stl_73" style="word-spacing:-0.0324em;">Region Europe  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.3589em;top:13.0517em;"><span class="stl_267 stl_08 stl_372">267  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.1527em;top:13.0517em;"><span class="stl_267 stl_08 stl_224">8-14%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.6377em;top:13.0517em;"><span class="stl_267 stl_08 stl_10">10.8%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4677em;top:13.0517em;"><span class="stl_267 stl_08 stl_17">8.4%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5102em;top:13.0517em;"><span class="stl_267 stl_08 stl_340">2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:13.9435em;"><span class="stl_267 stl_08 stl_531" style="word-spacing:-0.0342em;">Region US  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.3239em;top:13.9435em;"><span class="stl_267 stl_08 stl_391">306  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.1458em;top:13.9435em;"><span class="stl_267 stl_08 stl_615">4</span><span class="stl_267 stl_08 stl_747">-</span><span class="stl_267 stl_08 stl_301">14%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.6377em;top:13.9435em;"><span class="stl_267 stl_08 stl_10">10.8%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4677em;top:13.9435em;"><span class="stl_267 stl_08 stl_17">8.4%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5102em;top:13.9435em;"><span class="stl_267 stl_08 stl_340">2%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.4974em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_489" style="word-spacing:-0.0533em;">ꢀThe goodwill has been reallocated to the new business segments in 2023. Therefore, the carrying amounts are not directly comparable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.2126em;top:16.0809em;"><span class="stl_350 stl_08 stl_204" style="word-spacing:-0.0511em;">with the 2022 annual report. The difference in the carrying amount compared to 2022 is due to changes in exchange rates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.4472em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">The expected growth in revenue is based on historical performance, expected development in the market in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:19.2803em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0371em;">which the entity operates and assumptions in terms of development in market share. The growth rates applied  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.1134em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0378em;">in the explicit forecast period converge from its current level experienced over the last few years to the long-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.9465em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">term growth level in the market where the entity operates. The growth rates used to extrapolate cash flow  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:21.7797em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0395em;">projections beyond the explicit forecast period are not higher than the average expected long-term growth in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:22.6128em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0376em;">the markets in which the entities operate.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:24.2797em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0398em;">A sensitivity analysis has been carried out in relation to the discount rate (WACC) and terminal growth. The  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:25.1128em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">sensitivity analysis did not give rise to any risk of impairment.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:29.4674em;"><span class="stl_264 stl_08 stl_320" style="word-spacing:-0.0385em;">Intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:30.3005em;"><span class="stl_610 stl_08 stl_270">Goodwill  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:31.1336em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">Goodwill arising from business combinations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:31.9667em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0334em;">is recognized and measured as the difference  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:32.7999em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0376em;">between the total of the fair value of the considera-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:33.633em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">tion transferred compared to the fair value of identi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:34.4661em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0397em;">fiable net assets on the date of acquisition.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:36.133em;"><span class="stl_202 stl_08 stl_17" style="word-spacing:-0.0439em;">Goodwill is not amortized, but the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:36.9661em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0358em;">is tested at relevant cash generating unit level  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:37.7992em;z-index:4853;"><span class="stl_202 stl_08 stl_151" style="word-spacing:-0.0266em;">(CGU-level) for impairment once a year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">Goodwill is written down to its recoverable amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">through the income statement if lower than the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6378em;"><span class="stl_202 stl_08 stl_399" style="word-spacing:-0.0495em;">carrying amount.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3047em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">The recoverable amount is determined as the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1379em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">present value of the discounted future net cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.971em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">flow from the activities goodwill relates to. In calcu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.8041em;"><span class="stl_202 stl_08 stl_535" style="word-spacing:-0.0328em;">lating the present value, discount rates are applied  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6372em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.043em;">reflecting the riskfree interest rate with the addition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4703em;"><span class="stl_202 stl_08 stl_386" style="word-spacing:-0.0326em;">of risks relating to the individual CGU.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:29.4674em;"><span class="stl_264 stl_08 stl_320" style="word-spacing:-0.0385em;">Intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:30.3005em;"><span class="stl_610 stl_08 stl_270">Goodwill  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:31.1336em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">Goodwill arising from business combinations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:31.9667em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0334em;">is recognized and measured as the difference  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:32.7999em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0376em;">between the total of the fair value of the considera-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:33.633em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">tion transferred compared to the fair value of identi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:34.4661em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0397em;">fiable net assets on the date of acquisition.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:36.133em;"><span class="stl_202 stl_08 stl_17" style="word-spacing:-0.0439em;">Goodwill is not amortized, but the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:36.9661em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0358em;">is tested at relevant cash generating unit level  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:37.7992em;z-index:4853;"><span class="stl_202 stl_08 stl_151" style="word-spacing:-0.0266em;">(CGU-level) for impairment once a year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">Goodwill is written down to its recoverable amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">through the income statement if lower than the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6378em;"><span class="stl_202 stl_08 stl_399" style="word-spacing:-0.0495em;">carrying amount.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3047em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">The recoverable amount is determined as the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1379em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">present value of the discounted future net cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.971em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">flow from the activities goodwill relates to. In calcu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.8041em;"><span class="stl_202 stl_08 stl_535" style="word-spacing:-0.0328em;">lating the present value, discount rates are applied  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6372em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.043em;">reflecting the riskfree interest rate with the addition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4703em;"><span class="stl_202 stl_08 stl_386" style="word-spacing:-0.0326em;">of risks relating to the individual CGU.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1372em;"><span class="stl_610 stl_08 stl_259" style="word-spacing:-0.0437em;">IT development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.9703em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0427em;">IT development projects are clearly specified and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8035em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0402em;">identifiable projects under development for internal  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6366em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">and external use for which the technical feasibility  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4697em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0366em;">of completing the development project has been  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3028em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">demonstrated and resources are available within  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_202 stl_08 stl_190">NNIT.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8028em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">Any development projects that do not meet the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.636em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">criteria for capitalization in the balance sheet are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4691em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">recognized as costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.136em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">Development costs meeting the criteria for capital-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.9691em;"><span class="stl_202 stl_08 stl_227" style="word-spacing:-0.0322em;">iztion are measured at cost less accumulated amor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.8022em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0392em;">tization and any impairment losses. Development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.6353em;"><span class="stl_202 stl_08 stl_658" style="word-spacing:-0.0453em;">costs include external expenses, salaries, amortiza-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.4685em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">tion and depreciation that can be directly attributed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3016em;"><span class="stl_202 stl_08 stl_308" style="word-spacing:-0.0447em;">to NNIT development activities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.9685em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">Development costs recognized in the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8016em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">are amortized from completion of the development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.6347em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0378em;">using the straight-line method, over the period the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.4678em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">asset is expected to generate economic benefits.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.1347em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.041em;">Straight-line amortization over the expected useful  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.9678em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0407em;">life of the asset:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:38.0372em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:38.0372em;"><span class="stl_202 stl_08 stl_34" style="word-spacing:-0.0322em;">IT projects: 5-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:6.9678em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">Intangible assets that are in use and subject to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.801em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">amortization are tested for impairment whenever  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:8.6341em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.042em;">events or changes in circumstances indicate that the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.4672em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">carrying amount may not be recoverable. Factors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.3004em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">that could trigger an impairment test include  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.1335em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">changes in the economic lifes of similar assets or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.9666em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">the relationship with other intangible assets or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.7997em;"><span class="stl_202 stl_08 stl_514" style="word-spacing:-0.0465em;">tangible assets.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.4666em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">Intangible assets under construction are tested for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.2997em;z-index:1606;"><span class="stl_202 stl_08 stl_174" style="word-spacing:-0.0235em;">impairment once a year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.9666em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0418em;">If the carrying amount of intangible assets exceeds  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.7997em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0365em;">the recoverable amount based upon the above indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:18.6328em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.038em;">cators of impairment, any impairment loss is meas-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.466em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">ured based on discounted future cash flows.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.1328em;"><span class="stl_264 stl_08 stl_212" style="word-spacing:-0.0282em;">Tangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.966em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">Tangible fixed assets are measured at cost less  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:22.7991em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">accumulated depreciation and any impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.6322em;"><span class="stl_202 stl_08 stl_270">losses.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.2991em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.037em;">Cost price includes the purchase price and costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.1322em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0368em;">relating directly to the purchase. Subsequent costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.9654em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0398em;">are either included in the carrying amount of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.7985em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0364em;">asset or recognized as a separate asset, where  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:28.6316em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0382em;">there are likely future economic benefits for the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.4647em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">Group and the value of the asset can be reliably  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:30.2978em;"><span class="stl_202 stl_08 stl_186">measured.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.9647em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0397em;">The depreciable amount of the assets is depreciated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.7978em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">on a straight-line basis over the following estimated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:33.631em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">useful life periods:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:34.7003em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.4413em;top:34.7003em;"><span class="stl_202 stl_08 stl_68" style="word-spacing:-0.029em;">Other equipment: 3-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.7697em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.4413em;top:35.7697em;"><span class="stl_202 stl_08 stl_165" style="word-spacing:-0.0298em;">Leasehold improvements: 5-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:6.9641em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0394em;">Asset residual values and useful life's are assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:7.7972em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0334em;">and, where required, adjusted on each balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:8.6303em;"><span class="stl_202 stl_08 stl_275" style="word-spacing:-0.0299em;">sheet date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:10.2972em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0337em;">Tangible assets are tested for impairment if  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.1303em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">there are indications of impairment. The carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.9635em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">amount of an asset is written down to its recover-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.7966em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">able amount if the carrying amount exceeds the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.6297em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0364em;">estimated recoverable amount. The recoverable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.4628em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">amount for the asset is determined as the higher  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.296em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0378em;">of fair value less costs to sell and net present value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.1291em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.039em;">of future net cash flows from continued use. If the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.9622em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0372em;">recoverable amount of an individual asset cannot  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:17.7953em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">be determined, value in use is determined for the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:18.6285em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0386em;">smallest group of assets for which it is possible to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:19.4616em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0432em;">determine a recoverable amount. Impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.2947em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">are recognized in the income statement under the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:21.1278em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0389em;">relevant functional areas.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:22.7947em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">Depreciation and gains or losses from disposal of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:23.6278em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">tangible assets are recognized in the income state-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:24.461em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">ment under cost of goods sold, sale and marketing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:25.2941em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0433em;">costs and administrative expenses respectively.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:29.4674em;"><span class="stl_264 stl_08 stl_320" style="word-spacing:-0.0385em;">Intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:30.3005em;"><span class="stl_610 stl_08 stl_270">Goodwill  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:31.1336em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">Goodwill arising from business combinations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:31.9667em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0334em;">is recognized and measured as the difference  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:32.7999em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0376em;">between the total of the fair value of the considera-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:33.633em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">tion transferred compared to the fair value of identi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:34.4661em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0397em;">fiable net assets on the date of acquisition.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:36.133em;"><span class="stl_202 stl_08 stl_17" style="word-spacing:-0.0439em;">Goodwill is not amortized, but the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:36.9661em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0358em;">is tested at relevant cash generating unit level  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7483em;top:37.7992em;z-index:4853;"><span class="stl_202 stl_08 stl_151" style="word-spacing:-0.0266em;">(CGU-level) for impairment once a year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">Goodwill is written down to its recoverable amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">through the income statement if lower than the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6378em;"><span class="stl_202 stl_08 stl_399" style="word-spacing:-0.0495em;">carrying amount.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3047em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">The recoverable amount is determined as the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1379em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">present value of the discounted future net cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.971em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">flow from the activities goodwill relates to. In calcu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.8041em;"><span class="stl_202 stl_08 stl_535" style="word-spacing:-0.0328em;">lating the present value, discount rates are applied  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6372em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.043em;">reflecting the riskfree interest rate with the addition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4703em;"><span class="stl_202 stl_08 stl_386" style="word-spacing:-0.0326em;">of risks relating to the individual CGU.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1372em;"><span class="stl_610 stl_08 stl_259" style="word-spacing:-0.0437em;">IT development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.9703em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0427em;">IT development projects are clearly specified and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8035em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0402em;">identifiable projects under development for internal  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6366em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">and external use for which the technical feasibility  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4697em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0366em;">of completing the development project has been  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3028em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">demonstrated and resources are available within  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_202 stl_08 stl_190">NNIT.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8028em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">Any development projects that do not meet the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.636em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">criteria for capitalization in the balance sheet are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4691em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">recognized as costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.136em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">Development costs meeting the criteria for capital-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.9691em;"><span class="stl_202 stl_08 stl_227" style="word-spacing:-0.0322em;">iztion are measured at cost less accumulated amor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.8022em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0392em;">tization and any impairment losses. Development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.6353em;"><span class="stl_202 stl_08 stl_658" style="word-spacing:-0.0453em;">costs include external expenses, salaries, amortiza-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.4685em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">tion and depreciation that can be directly attributed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3016em;"><span class="stl_202 stl_08 stl_308" style="word-spacing:-0.0447em;">to NNIT development activities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.9685em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">Development costs recognized in the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8016em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">are amortized from completion of the development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.6347em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0378em;">using the straight-line method, over the period the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.4678em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">asset is expected to generate economic benefits.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.1347em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.041em;">Straight-line amortization over the expected useful  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.9678em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0407em;">life of the asset:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:38.0372em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:38.0372em;"><span class="stl_202 stl_08 stl_34" style="word-spacing:-0.0322em;">IT projects: 5-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:6.9678em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">Intangible assets that are in use and subject to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.801em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">amortization are tested for impairment whenever  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:8.6341em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.042em;">events or changes in circumstances indicate that the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.4672em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">carrying amount may not be recoverable. Factors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.3004em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">that could trigger an impairment test include  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.1335em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">changes in the economic lifes of similar assets or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.9666em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">the relationship with other intangible assets or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.7997em;"><span class="stl_202 stl_08 stl_514" style="word-spacing:-0.0465em;">tangible assets.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.4666em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">Intangible assets under construction are tested for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.2997em;z-index:1606;"><span class="stl_202 stl_08 stl_174" style="word-spacing:-0.0235em;">impairment once a year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.9666em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0418em;">If the carrying amount of intangible assets exceeds  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.7997em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0365em;">the recoverable amount based upon the above indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:18.6328em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.038em;">cators of impairment, any impairment loss is meas-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.466em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">ured based on discounted future cash flows.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.1328em;"><span class="stl_264 stl_08 stl_212" style="word-spacing:-0.0282em;">Tangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.966em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">Tangible fixed assets are measured at cost less  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:22.7991em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">accumulated depreciation and any impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.6322em;"><span class="stl_202 stl_08 stl_270">losses.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.2991em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.037em;">Cost price includes the purchase price and costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.1322em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0368em;">relating directly to the purchase. Subsequent costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.9654em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0398em;">are either included in the carrying amount of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.7985em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0364em;">asset or recognized as a separate asset, where  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:28.6316em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0382em;">there are likely future economic benefits for the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.4647em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">Group and the value of the asset can be reliably  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:30.2978em;"><span class="stl_202 stl_08 stl_186">measured.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.9647em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0397em;">The depreciable amount of the assets is depreciated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.7978em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">on a straight-line basis over the following estimated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:33.631em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">useful life periods:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:34.7003em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.4413em;top:34.7003em;"><span class="stl_202 stl_08 stl_68" style="word-spacing:-0.029em;">Other equipment: 3-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.7697em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.4413em;top:35.7697em;"><span class="stl_202 stl_08 stl_165" style="word-spacing:-0.0298em;">Leasehold improvements: 5-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:6.9641em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0394em;">Asset residual values and useful life's are assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:7.7972em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0334em;">and, where required, adjusted on each balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:8.6303em;"><span class="stl_202 stl_08 stl_275" style="word-spacing:-0.0299em;">sheet date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:10.2972em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0337em;">Tangible assets are tested for impairment if  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.1303em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">there are indications of impairment. The carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.9635em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">amount of an asset is written down to its recover-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.7966em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">able amount if the carrying amount exceeds the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.6297em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0364em;">estimated recoverable amount. The recoverable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.4628em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">amount for the asset is determined as the higher  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.296em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0378em;">of fair value less costs to sell and net present value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.1291em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.039em;">of future net cash flows from continued use. If the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.9622em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0372em;">recoverable amount of an individual asset cannot  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:17.7953em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">be determined, value in use is determined for the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:18.6285em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0386em;">smallest group of assets for which it is possible to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:19.4616em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0432em;">determine a recoverable amount. Impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.2947em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">are recognized in the income statement under the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:21.1278em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0389em;">relevant functional areas.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:22.7947em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">Depreciation and gains or losses from disposal of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:23.6278em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">tangible assets are recognized in the income state-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:24.461em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">ment under cost of goods sold, sale and marketing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:25.2941em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0433em;">costs and administrative expenses respectively.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:13.6253em;"><span class="stl_264 stl_08 stl_17" style="word-spacing:-0.0438em;">Lease assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:14.4585em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0381em;">Lease assets are 'right-of-use assets' arising  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:15.2916em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0375em;">from a lease agreement. Lease assets are initially  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:16.1247em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0351em;">measured at cost consisting of the amount of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:16.9578em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">initial measurement of the lease liability, plus any  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:17.791em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.039em;">lease payments made to the lessor at or before  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:18.6241em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">the commencement date less any lease incentives  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:19.4572em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0362em;">received and the initial estimate of refurbishment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:20.2903em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.0431em;">costs and any initial directs costs incurred by NNIT  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:21.1235em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">as the lessee.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:22.7903em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0412em;">NNIT has three different types of leases:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:23.8597em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.4575em;top:23.8597em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0338em;">Rental of premises  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:24.9291em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.4575em;top:24.9291em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.035em;">Rental of equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:25.9985em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.4575em;top:25.9985em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0374em;">Company cars  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:27.6654em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">The lease assets are depreciated on a straight-line  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:28.4985em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0386em;">basis over the lease term. The lease asset can be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:29.3316em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">adjusted due to modifications to the lease agree-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:30.1647em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0363em;">ment or reassessment of lease term.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:31.8316em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0404em;">Payments associated with short-term leases and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:32.6647em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0368em;">leases of low-value assets are recognized on a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:33.4978em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">straight-line basis as an expense in profit or loss.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:34.331em;"><span class="stl_202 stl_08 stl_423" style="word-spacing:-0.0309em;">Short-term leases are leases with a term of 12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:35.1641em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0416em;">months or less. Low-value assets comprise equip-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:35.9972em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0376em;">ment with a value below DKK 100 thousand.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_264 stl_08 stl_408">Subleases  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0344em;">NNIT has entered into arrangements to sublease  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6378em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0418em;">part of the Group's property lease agreement, while  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.471em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">NNIT retains the primary obligation under the orig-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3041em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">inal lease. NNIT acts as such both the lessee and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1372em;"><span class="stl_202 stl_08 stl_250" style="word-spacing:-0.0429em;">lessor of the same underlying asset.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.8041em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">If a part of the Group's property is subleased under  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6372em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0384em;">terms transferring substantially all remaining risks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4703em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.035em;">and rewards under the head lease to the lessee in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.3035em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0367em;">the sublease, the right-of-use asset is derecognised,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1366em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0345em;">and a lease receivable is recognised at an amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.9697em;"><span class="stl_774 stl_08 stl_247" style="word-spacing:-0.0381em;">equal to the net investment in the lease. Gain/loss  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8028em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0362em;">on the derecognised right-of-use asset is recognised  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.636em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">in the income statement as special items.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3028em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">During the term of the sublease, the receivable is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_202 stl_08 stl_308" style="word-spacing:-0.0447em;">adjusted based on a pattern reflecting a constant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.9691em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0368em;">periodic rate of return on the net investment in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8022em;"><span class="stl_202 stl_08 stl_269">lease.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:32.7916em;"><span class="stl_264 stl_08 stl_340" style="word-spacing:-0.0341em;">Lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:33.6247em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0349em;">Lease liabilities arise from a lease agreement. Lease  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:34.4578em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0344em;">liabilities are initially equal to the present value of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:35.291em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">the lease payments during the lease term that are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:36.1241em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">not yet paid.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:6.9572em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0396em;">At initial recognition NNIT assess each contract  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:7.7903em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0347em;">individually to assess the likelihood of exercising  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:8.6235em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0386em;">a potential extension option in the contract.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:9.4566em;"><span class="stl_202 stl_08 stl_235" style="word-spacing:-0.0416em;">The option to extend the contract period will be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:10.2897em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0384em;">included in the calculation of the lease liability if  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:11.1228em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0376em;">it is reasonably certain that NNIT will exercise the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:11.956em;"><span class="stl_202 stl_08 stl_188">option.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:13.6228em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0366em;">When calculating the net present value NNIT has  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:14.456em;"><span class="stl_202 stl_08 stl_73" style="word-spacing:-0.0324em;">used a discount rate corresponding to the incre-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:15.2891em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0353em;">mental borrowing rate.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:16.956em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0356em;">The lease liability is remeasured when changes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:17.7891em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0399em;">occur due to modifications to the contract (exten-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:18.6222em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0337em;">sion, termination etc.) or indexation.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:13.6253em;"><span class="stl_264 stl_08 stl_17" style="word-spacing:-0.0438em;">Lease assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:14.4585em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0381em;">Lease assets are 'right-of-use assets' arising  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:15.2916em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0375em;">from a lease agreement. Lease assets are initially  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:16.1247em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0351em;">measured at cost consisting of the amount of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:16.9578em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">initial measurement of the lease liability, plus any  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:17.791em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.039em;">lease payments made to the lessor at or before  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:18.6241em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">the commencement date less any lease incentives  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:19.4572em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0362em;">received and the initial estimate of refurbishment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:20.2903em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.0431em;">costs and any initial directs costs incurred by NNIT  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:21.1235em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">as the lessee.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:22.7903em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0412em;">NNIT has three different types of leases:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:23.8597em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.4575em;top:23.8597em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0338em;">Rental of premises  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:24.9291em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.4575em;top:24.9291em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.035em;">Rental of equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:25.9985em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.4575em;top:25.9985em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0374em;">Company cars  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:27.6654em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">The lease assets are depreciated on a straight-line  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:28.4985em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0386em;">basis over the lease term. The lease asset can be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:29.3316em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">adjusted due to modifications to the lease agree-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:30.1647em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0363em;">ment or reassessment of lease term.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:31.8316em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0404em;">Payments associated with short-term leases and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:32.6647em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0368em;">leases of low-value assets are recognized on a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:33.4978em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">straight-line basis as an expense in profit or loss.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:34.331em;"><span class="stl_202 stl_08 stl_423" style="word-spacing:-0.0309em;">Short-term leases are leases with a term of 12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:35.1641em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0416em;">months or less. Low-value assets comprise equip-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:35.9972em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0376em;">ment with a value below DKK 100 thousand.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_264 stl_08 stl_408">Subleases  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0344em;">NNIT has entered into arrangements to sublease  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6378em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0418em;">part of the Group's property lease agreement, while  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.471em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">NNIT retains the primary obligation under the orig-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3041em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">inal lease. NNIT acts as such both the lessee and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1372em;"><span class="stl_202 stl_08 stl_250" style="word-spacing:-0.0429em;">lessor of the same underlying asset.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.8041em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">If a part of the Group's property is subleased under  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6372em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0384em;">terms transferring substantially all remaining risks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4703em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.035em;">and rewards under the head lease to the lessee in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.3035em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0367em;">the sublease, the right-of-use asset is derecognised,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1366em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0345em;">and a lease receivable is recognised at an amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.9697em;"><span class="stl_774 stl_08 stl_247" style="word-spacing:-0.0381em;">equal to the net investment in the lease. Gain/loss  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8028em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0362em;">on the derecognised right-of-use asset is recognised  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.636em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">in the income statement as special items.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3028em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">During the term of the sublease, the receivable is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_202 stl_08 stl_308" style="word-spacing:-0.0447em;">adjusted based on a pattern reflecting a constant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.9691em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0368em;">periodic rate of return on the net investment in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8022em;"><span class="stl_202 stl_08 stl_269">lease.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:32.7916em;"><span class="stl_264 stl_08 stl_340" style="word-spacing:-0.0341em;">Lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:33.6247em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0349em;">Lease liabilities arise from a lease agreement. Lease  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:34.4578em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0344em;">liabilities are initially equal to the present value of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:35.291em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">the lease payments during the lease term that are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:36.1241em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">not yet paid.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:6.9572em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0396em;">At initial recognition NNIT assess each contract  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:7.7903em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0347em;">individually to assess the likelihood of exercising  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:8.6235em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0386em;">a potential extension option in the contract.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:9.4566em;"><span class="stl_202 stl_08 stl_235" style="word-spacing:-0.0416em;">The option to extend the contract period will be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:10.2897em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0384em;">included in the calculation of the lease liability if  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:11.1228em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0376em;">it is reasonably certain that NNIT will exercise the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:11.956em;"><span class="stl_202 stl_08 stl_188">option.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:13.6228em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0366em;">When calculating the net present value NNIT has  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:14.456em;"><span class="stl_202 stl_08 stl_73" style="word-spacing:-0.0324em;">used a discount rate corresponding to the incre-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:15.2891em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0353em;">mental borrowing rate.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:16.956em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0356em;">The lease liability is remeasured when changes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:17.7891em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0399em;">occur due to modifications to the contract (exten-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:18.6222em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0337em;">sion, termination etc.) or indexation.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:5.658em;"><span class="stl_527 stl_08 stl_309" style="word-spacing:0.0819em;">4.3 Leases  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:7.2147em;"><span class="stl_264 stl_08 stl_17" style="word-spacing:-0.0438em;">Lease assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.5452em;top:7.6929em;"><span class="stl_263 stl_08 stl_243" style="word-spacing:-0.04em;">Rental of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.2695em;top:7.6929em;"><span class="stl_263 stl_08 stl_243" style="word-spacing:-0.04em;">Rental of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.8239em;top:7.6929em;"><span class="stl_263 stl_08 stl_233">Company  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:8.4429em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.4652em;top:8.4429em;"><span class="stl_263 stl_08 stl_120">premises  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.6577em;top:8.4429em;"><span class="stl_263 stl_08 stl_255">equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4183em;top:8.4429em;"><span class="stl_263 stl_08 stl_517">cars  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9433em;top:8.4429em;"><span class="stl_263 stl_08 stl_178">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.1066em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.3666em;"><span class="stl_267 stl_08 stl_200" style="word-spacing:-0.0394em;">Costs at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.1145em;top:11.3666em;"><span class="stl_267 stl_08 stl_518">246  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.7439em;top:11.3666em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9345em;top:11.3666em;"><span class="stl_267 stl_08 stl_602">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2977em;top:11.3666em;"><span class="stl_267 stl_08 stl_203">268  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:12.3766em;"><span class="stl_267 stl_08 stl_320">Additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.2308em;top:12.3766em;"><span class="stl_267 stl_08 stl_810">111  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.2589em;top:12.3766em;"><span class="stl_267 stl_08 stl_819">12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.312em;top:12.3766em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3433em;top:12.3766em;"><span class="stl_267 stl_08 stl_817">127  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.3866em;"><span class="stl_267 stl_08 stl_121">Disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.3083em;top:13.3866em;"><span class="stl_267 stl_08 stl_139">(62)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.7439em;top:13.3866em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.8414em;top:13.3866em;"><span class="stl_267 stl_08 stl_747">(11)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4451em;top:13.3866em;"><span class="stl_267 stl_08 stl_90">(73)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:14.3966em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0381em;">Exchange rate adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.8633em;top:14.3966em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.7439em;top:14.3966em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:14.3966em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:14.3966em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.4066em;"><span class="stl_264 stl_08 stl_249" style="word-spacing:-0.0348em;">Costs at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.0995em;top:15.4066em;"><span class="stl_274 stl_08 stl_594">296  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.2401em;top:15.4066em;"><span class="stl_274 stl_08 stl_65">12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9564em;top:15.4066em;"><span class="stl_274 stl_08 stl_379">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2758em;top:15.4066em;"><span class="stl_274 stl_08 stl_292">323  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:17.0116em;"><span class="stl_267 stl_08 stl_121" style="word-spacing:-0.0383em;">Depreciation and impairment loss at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:17.8447em;"><span class="stl_267 stl_08 stl_237" style="word-spacing:-0.0363em;">the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.1901em;top:17.8447em;"><span class="stl_267 stl_08 stl_439">211  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.7433em;top:17.8447em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9826em;top:17.8447em;"><span class="stl_267 stl_08 stl_819">12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2795em;top:17.8447em;"><span class="stl_267 stl_08 stl_544">223  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:18.8997em;"><span class="stl_267 stl_08 stl_236">Depreciation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.4783em;top:18.8997em;"><span class="stl_267 stl_08 stl_460">34  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.587em;top:18.8997em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3114em;top:18.8997em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6602em;top:18.8997em;"><span class="stl_267 stl_08 stl_506">38  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:19.9097em;"><span class="stl_267 stl_08 stl_321" style="word-spacing:-0.0396em;">Depreciation reversed on disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.307em;top:19.9097em;"><span class="stl_267 stl_08 stl_63">(59)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.7427em;top:19.9097em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.1139em;top:19.9097em;"><span class="stl_267 stl_08 stl_149">(6)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4708em;top:19.9097em;"><span class="stl_267 stl_08 stl_35">(65)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:20.9197em;"><span class="stl_264 stl_08 stl_492" style="word-spacing:-0.0332em;">Depreciation and impairment loss  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:21.7529em;"><span class="stl_850 stl_08 stl_186" style="word-spacing:-0.0316em;">at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.1233em;top:21.7529em;"><span class="stl_274 stl_08 stl_256">186  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.587em;top:21.7529em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3114em;top:21.7529em;"><span class="stl_274 stl_08 stl_19">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2952em;top:21.7529em;"><span class="stl_274 stl_08 stl_305">196  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:23.7722em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.0349em;">Carrying amount at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.162em;top:23.7722em;"><span class="stl_274 stl_08 stl_726">110  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.2458em;top:23.7722em;"><span class="stl_274 stl_08 stl_825">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.312em;top:23.7722em;"><span class="stl_274 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3083em;top:23.7722em;"><span class="stl_274 stl_08 stl_170">127  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_264 stl_08 stl_17" style="word-spacing:-0.0438em;">Lease assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.5294em;top:7.4497em;"><span class="stl_263 stl_08 stl_243" style="word-spacing:-0.04em;">Rental of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.2538em;top:7.4497em;"><span class="stl_263 stl_08 stl_243" style="word-spacing:-0.04em;">Rental of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.8082em;top:7.4497em;"><span class="stl_263 stl_08 stl_233">Company  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.1997em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.4494em;top:8.1997em;"><span class="stl_263 stl_08 stl_120">premises  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.6419em;top:8.1997em;"><span class="stl_263 stl_08 stl_255">equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4025em;top:8.1997em;"><span class="stl_263 stl_08 stl_517">cars  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:8.1997em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.8635em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1235em;"><span class="stl_267 stl_08 stl_200" style="word-spacing:-0.0394em;">Costs at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.1838em;top:11.1235em;"><span class="stl_267 stl_08 stl_816">617  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.2419em;top:11.1235em;"><span class="stl_267 stl_08 stl_818">17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9638em;top:11.1235em;"><span class="stl_267 stl_08 stl_816">19  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.28em;top:11.1235em;"><span class="stl_267 stl_08 stl_253">653  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:12.1335em;"><span class="stl_267 stl_08 stl_369">Additions</span><sup style="top: -0.2084em;"><span class="stl_281 stl_08 stl_326">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4799em;top:12.1332em;"><span class="stl_267 stl_08 stl_227">29  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7281em;top:12.1332em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2962em;top:12.1332em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6362em;top:12.1332em;"><span class="stl_267 stl_08 stl_460">34  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:13.1432em;"><span class="stl_267 stl_08 stl_121">Disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.8981em;top:13.1432em;"><span class="stl_267 stl_08 stl_256">(395)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0387em;top:13.1432em;"><span class="stl_267 stl_08 stl_680">(17)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0981em;top:13.1432em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1531em;top:13.1432em;"><span class="stl_267 stl_08 stl_685">(414)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:14.1532em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0382em;">Exchange rate adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.6424em;top:14.1532em;"><span class="stl_267 stl_08 stl_227">(5)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.8156em;top:14.1532em;"><span class="stl_267 stl_08 stl_227">(5)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:15.1632em;"><span class="stl_264 stl_08 stl_249" style="word-spacing:-0.0348em;">Costs at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.0706em;top:15.1632em;"><span class="stl_274 stl_08 stl_864">246  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7281em;top:15.1632em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9131em;top:15.1632em;"><span class="stl_274 stl_08 stl_460">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2593em;top:15.1632em;"><span class="stl_274 stl_08 stl_744">268  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:16.7682em;"><span class="stl_267 stl_08 stl_121" style="word-spacing:-0.0383em;">Depreciation and impairment loss at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:17.6014em;"><span class="stl_267 stl_08 stl_237" style="word-spacing:-0.0363em;">the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.1168em;top:17.6014em;"><span class="stl_267 stl_08 stl_116">520  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.2424em;top:17.6014em;"><span class="stl_267 stl_08 stl_818">17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2962em;top:17.6014em;"><span class="stl_267 stl_08 stl_19">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2668em;top:17.6014em;"><span class="stl_267 stl_08 stl_638">545  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:18.6564em;"><span class="stl_267 stl_08 stl_236">Depreciation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4699em;top:18.6564em;"><span class="stl_267 stl_08 stl_602">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7281em;top:18.6564em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2962em;top:18.6564em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6499em;top:18.6564em;"><span class="stl_267 stl_08 stl_268">28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7249em;top:19.6664em;"><span class="stl_267 stl_08 stl_321" style="word-spacing:-0.0396em;">Depreciation reversed on disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.9081em;top:19.6664em;"><span class="stl_267 stl_08 stl_215">(329)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0387em;top:19.6664em;"><span class="stl_267 stl_08 stl_680">(17)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0981em;top:19.6664em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.0449em;top:19.6664em;"><span class="stl_267 stl_08 stl_734">(348)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7249em;top:20.6764em;"><span class="stl_267 stl_08 stl_246" style="word-spacing:-0.0403em;">Exchange rate adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.6493em;top:20.6764em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7281em;top:20.6764em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4524em;top:20.6764em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.8224em;top:20.6764em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7249em;top:21.6864em;"><span class="stl_264 stl_08 stl_492" style="word-spacing:-0.0332em;">Depreciation and impairment loss  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7249em;top:22.5195em;"><span class="stl_850 stl_08 stl_186" style="word-spacing:-0.0316em;">at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.1343em;top:22.5195em;"><span class="stl_274 stl_08 stl_192">211  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7281em;top:22.5195em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9493em;top:22.5195em;"><span class="stl_274 stl_08 stl_65">12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2537em;top:22.5195em;"><span class="stl_274 stl_08 stl_460">223  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:24.5389em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.0349em;">Carrying amount at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4693em;top:24.5389em;"><span class="stl_274 stl_08 stl_353">35  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7274em;top:24.5389em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9368em;top:24.5389em;"><span class="stl_274 stl_08 stl_462">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6349em;top:24.5389em;"><span class="stl_274 stl_08 stl_304">45  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.0326em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_305" style="word-spacing:-0.043em;">ꢀWhereof DKK 15 million relates to gain on subleases.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:6.9716em;"><span class="stl_264 stl_08 stl_340" style="word-spacing:-0.0341em;">Lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:7.8047em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0351em;">Lease liabilities expiring within the following periods from the balance sheet date:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.3527em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:9.3527em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:9.3527em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.0164em;"><span class="stl_267 stl_08 stl_256" style="word-spacing:-0.0399em;">Within 1 year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9345em;top:11.0164em;"><span class="stl_267 stl_08 stl_602">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6658em;top:11.0164em;"><span class="stl_267 stl_08 stl_268">53  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.0264em;"><span class="stl_267 stl_08 stl_514" style="word-spacing:-0.0465em;">Between 1 and 5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9495em;top:12.0264em;"><span class="stl_267 stl_08 stl_454">75  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.7045em;top:12.0264em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.0364em;"><span class="stl_267 stl_08 stl_351" style="word-spacing:-0.0502em;">After 5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9433em;top:13.0364em;"><span class="stl_267 stl_08 stl_226">65  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1927em;top:13.0364em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:14.0464em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.033em;">Total lease liability, non-discounted  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5777em;top:14.0464em;"><span class="stl_274 stl_08 stl_340">162  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.652em;top:14.0464em;"><span class="stl_274 stl_08 stl_471">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.6514em;"><span class="stl_264 stl_08 stl_340" style="word-spacing:-0.034em;">Lease liabilities are recognized in the balance sheet as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.6614em;"><span class="stl_267 stl_08 stl_235" style="word-spacing:-0.0417em;">Non-current liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.6664em;top:16.6614em;"><span class="stl_267 stl_08 stl_285">113  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.707em;top:16.6614em;"><span class="stl_267 stl_08 stl_818">13  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.6714em;"><span class="stl_267 stl_08 stl_120" style="word-spacing:-0.0349em;">Current liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9827em;top:17.6714em;"><span class="stl_267 stl_08 stl_818">17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.7014em;top:17.6714em;"><span class="stl_267 stl_08 stl_45">51  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:18.6814em;"><span class="stl_264 stl_08 stl_132" style="word-spacing:-0.0274em;">Total lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5789em;top:18.6814em;"><span class="stl_274 stl_08 stl_233">130  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.647em;top:18.6814em;"><span class="stl_274 stl_08 stl_615">64  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:20.2864em;"><span class="stl_264 stl_08 stl_203" style="word-spacing:-0.0371em;">Recognized in the profit and loss statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:21.2964em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.0382em;">Interest expenses related to lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3127em;top:21.2964em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.037em;top:21.2964em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:22.3064em;"><span class="stl_267 stl_08 stl_235" style="word-spacing:-0.0417em;">Expense relating to short term leases, not capitalized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4689em;top:22.3064em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1933em;top:22.3064em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:23.3164em;"><span class="stl_267 stl_08 stl_532" style="word-spacing:-0.0411em;">Expense relating to leases of low-value assets, not capitalized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4689em;top:23.3164em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1933em;top:23.3164em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3133em;top:24.3264em;"><span class="stl_274 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0377em;top:24.3264em;"><span class="stl_274 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:25.9377em;"><span class="stl_202 stl_08 stl_179" style="word-spacing:-0.0305em;">In 2024 the Group has paid 60 million (2023: 66 million) regarding lease agreements where of interest expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:26.7708em;"><span class="stl_202 stl_08 stl_227" style="word-spacing:-0.0321em;">related to lease liabilities amount to DKK 4 million (2023: 3 million) and repayment of lease liability amount to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:27.6039em;"><span class="stl_202 stl_08 stl_114" style="word-spacing:-0.0217em;">DKK 56 million (2023: 61 million).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:29.2708em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">NNIT has entered into short-term and low-value lease agreement for printers, coffee makers, watercoolers  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:30.1039em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">parking space and storage. The total value of these agreements are immaterial.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_264 stl_08 stl_408">Subleases  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.037em;">NNIT has entered into arrangements to sublease part of the Group's property lease agreement. In accordance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6378em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">with IFRS 16, the right-of-use asset covering the subleases is derecognised, and a lease receivable is recog-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.471em;"><span class="stl_202 stl_08 stl_529">nised.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.0194em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:11.0194em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:11.0194em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.6831em;"><span class="stl_264 stl_08 stl_320" style="word-spacing:-0.0386em;">Amounts recognised in the statement of cash flows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6931em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0395em;">Installment on sublease receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9288em;top:13.6931em;"><span class="stl_267 stl_08 stl_227">35  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6838em;top:13.6931em;"><span class="stl_267 stl_08 stl_286">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.2981em;"><span class="stl_264 stl_08 stl_237" style="word-spacing:-0.0358em;">Receivables from subleasing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.3081em;"><span class="stl_267 stl_08 stl_246" style="word-spacing:-0.0405em;">Receivables from subleases at 1 January  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9357em;top:16.3081em;"><span class="stl_267 stl_08 stl_366">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6838em;top:16.3081em;"><span class="stl_267 stl_08 stl_286">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.3181em;"><span class="stl_267 stl_08 stl_320">Additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9594em;top:17.3181em;"><span class="stl_267 stl_08 stl_286">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.66em;top:17.3181em;"><span class="stl_267 stl_08 stl_366">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.3281em;"><span class="stl_267 stl_08 stl_121">Disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0975em;top:18.3281em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1763em;top:18.3281em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:19.3381em;"><span class="stl_267 stl_08 stl_240" style="word-spacing:-0.041em;">Payments received  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7157em;top:19.3381em;"><span class="stl_267 stl_08 stl_256">(35)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.5032em;top:19.3381em;"><span class="stl_267 stl_08 stl_337">(18)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:20.3481em;"><span class="stl_264 stl_08 stl_188" style="word-spacing:-0.037em;">Receivables from subleases  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:20.3481em;"><span class="stl_274 stl_08 stl_19">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6432em;top:20.3481em;"><span class="stl_274 stl_08 stl_289">26  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1372em;"><span class="stl_610 stl_08 stl_259" style="word-spacing:-0.0437em;">IT development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.9703em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0427em;">IT development projects are clearly specified and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8035em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0402em;">identifiable projects under development for internal  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6366em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">and external use for which the technical feasibility  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4697em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0366em;">of completing the development project has been  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3028em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">demonstrated and resources are available within  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_202 stl_08 stl_190">NNIT.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8028em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">Any development projects that do not meet the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.636em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">criteria for capitalization in the balance sheet are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4691em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">recognized as costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.136em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">Development costs meeting the criteria for capital-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.9691em;"><span class="stl_202 stl_08 stl_227" style="word-spacing:-0.0322em;">iztion are measured at cost less accumulated amor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.8022em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0392em;">tization and any impairment losses. Development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.6353em;"><span class="stl_202 stl_08 stl_658" style="word-spacing:-0.0453em;">costs include external expenses, salaries, amortiza-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.4685em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">tion and depreciation that can be directly attributed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3016em;"><span class="stl_202 stl_08 stl_308" style="word-spacing:-0.0447em;">to NNIT development activities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.9685em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">Development costs recognized in the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8016em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">are amortized from completion of the development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.6347em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0378em;">using the straight-line method, over the period the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.4678em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">asset is expected to generate economic benefits.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.1347em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.041em;">Straight-line amortization over the expected useful  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.9678em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0407em;">life of the asset:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:38.0372em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:38.0372em;"><span class="stl_202 stl_08 stl_34" style="word-spacing:-0.0322em;">IT projects: 5-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:6.9678em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">Intangible assets that are in use and subject to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.801em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">amortization are tested for impairment whenever  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:8.6341em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.042em;">events or changes in circumstances indicate that the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.4672em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">carrying amount may not be recoverable. Factors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.3004em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">that could trigger an impairment test include  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.1335em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">changes in the economic lifes of similar assets or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.9666em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">the relationship with other intangible assets or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.7997em;"><span class="stl_202 stl_08 stl_514" style="word-spacing:-0.0465em;">tangible assets.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.4666em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">Intangible assets under construction are tested for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.2997em;z-index:1606;"><span class="stl_202 stl_08 stl_174" style="word-spacing:-0.0235em;">impairment once a year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.9666em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0418em;">If the carrying amount of intangible assets exceeds  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.7997em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0365em;">the recoverable amount based upon the above indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:18.6328em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.038em;">cators of impairment, any impairment loss is meas-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.466em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">ured based on discounted future cash flows.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1372em;"><span class="stl_610 stl_08 stl_259" style="word-spacing:-0.0437em;">IT development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.9703em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0427em;">IT development projects are clearly specified and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8035em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0402em;">identifiable projects under development for internal  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6366em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">and external use for which the technical feasibility  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4697em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0366em;">of completing the development project has been  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3028em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">demonstrated and resources are available within  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_202 stl_08 stl_190">NNIT.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8028em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">Any development projects that do not meet the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.636em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">criteria for capitalization in the balance sheet are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4691em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">recognized as costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.136em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">Development costs meeting the criteria for capital-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.9691em;"><span class="stl_202 stl_08 stl_227" style="word-spacing:-0.0322em;">iztion are measured at cost less accumulated amor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.8022em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0392em;">tization and any impairment losses. Development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.6353em;"><span class="stl_202 stl_08 stl_658" style="word-spacing:-0.0453em;">costs include external expenses, salaries, amortiza-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.4685em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">tion and depreciation that can be directly attributed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3016em;"><span class="stl_202 stl_08 stl_308" style="word-spacing:-0.0447em;">to NNIT development activities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.9685em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">Development costs recognized in the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8016em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">are amortized from completion of the development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.6347em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0378em;">using the straight-line method, over the period the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.4678em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">asset is expected to generate economic benefits.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.1347em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.041em;">Straight-line amortization over the expected useful  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.9678em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0407em;">life of the asset:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:38.0372em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:38.0372em;"><span class="stl_202 stl_08 stl_34" style="word-spacing:-0.0322em;">IT projects: 5-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:6.9678em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">Intangible assets that are in use and subject to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.801em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">amortization are tested for impairment whenever  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:8.6341em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.042em;">events or changes in circumstances indicate that the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.4672em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">carrying amount may not be recoverable. Factors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.3004em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">that could trigger an impairment test include  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.1335em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">changes in the economic lifes of similar assets or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.9666em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">the relationship with other intangible assets or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.7997em;"><span class="stl_202 stl_08 stl_514" style="word-spacing:-0.0465em;">tangible assets.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.4666em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">Intangible assets under construction are tested for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.2997em;z-index:1606;"><span class="stl_202 stl_08 stl_174" style="word-spacing:-0.0235em;">impairment once a year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.9666em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0418em;">If the carrying amount of intangible assets exceeds  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.7997em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0365em;">the recoverable amount based upon the above indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:18.6328em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.038em;">cators of impairment, any impairment loss is meas-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.466em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">ured based on discounted future cash flows.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.1328em;"><span class="stl_264 stl_08 stl_212" style="word-spacing:-0.0282em;">Tangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.966em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">Tangible fixed assets are measured at cost less  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:22.7991em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">accumulated depreciation and any impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.6322em;"><span class="stl_202 stl_08 stl_270">losses.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.2991em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.037em;">Cost price includes the purchase price and costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.1322em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0368em;">relating directly to the purchase. Subsequent costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.9654em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0398em;">are either included in the carrying amount of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.7985em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0364em;">asset or recognized as a separate asset, where  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:28.6316em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0382em;">there are likely future economic benefits for the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.4647em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">Group and the value of the asset can be reliably  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:30.2978em;"><span class="stl_202 stl_08 stl_186">measured.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.9647em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0397em;">The depreciable amount of the assets is depreciated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.7978em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">on a straight-line basis over the following estimated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:33.631em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">useful life periods:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:34.7003em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.4413em;top:34.7003em;"><span class="stl_202 stl_08 stl_68" style="word-spacing:-0.029em;">Other equipment: 3-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.7697em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.4413em;top:35.7697em;"><span class="stl_202 stl_08 stl_165" style="word-spacing:-0.0298em;">Leasehold improvements: 5-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:6.9641em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0394em;">Asset residual values and useful life's are assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:7.7972em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0334em;">and, where required, adjusted on each balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:8.6303em;"><span class="stl_202 stl_08 stl_275" style="word-spacing:-0.0299em;">sheet date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:10.2972em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0337em;">Tangible assets are tested for impairment if  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.1303em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">there are indications of impairment. The carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.9635em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">amount of an asset is written down to its recover-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.7966em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">able amount if the carrying amount exceeds the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.6297em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0364em;">estimated recoverable amount. The recoverable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.4628em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">amount for the asset is determined as the higher  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.296em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0378em;">of fair value less costs to sell and net present value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.1291em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.039em;">of future net cash flows from continued use. If the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.9622em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0372em;">recoverable amount of an individual asset cannot  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:17.7953em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">be determined, value in use is determined for the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:18.6285em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0386em;">smallest group of assets for which it is possible to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:19.4616em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0432em;">determine a recoverable amount. Impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.2947em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">are recognized in the income statement under the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:21.1278em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0389em;">relevant functional areas.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:22.7947em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">Depreciation and gains or losses from disposal of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:23.6278em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">tangible assets are recognized in the income state-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:24.461em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">ment under cost of goods sold, sale and marketing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:25.2941em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0433em;">costs and administrative expenses respectively.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1372em;"><span class="stl_610 stl_08 stl_259" style="word-spacing:-0.0437em;">IT development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.9703em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0427em;">IT development projects are clearly specified and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8035em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0402em;">identifiable projects under development for internal  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6366em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">and external use for which the technical feasibility  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4697em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0366em;">of completing the development project has been  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3028em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">demonstrated and resources are available within  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_202 stl_08 stl_190">NNIT.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8028em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">Any development projects that do not meet the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.636em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">criteria for capitalization in the balance sheet are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4691em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">recognized as costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.136em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">Development costs meeting the criteria for capital-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.9691em;"><span class="stl_202 stl_08 stl_227" style="word-spacing:-0.0322em;">iztion are measured at cost less accumulated amor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.8022em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0392em;">tization and any impairment losses. Development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.6353em;"><span class="stl_202 stl_08 stl_658" style="word-spacing:-0.0453em;">costs include external expenses, salaries, amortiza-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.4685em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">tion and depreciation that can be directly attributed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3016em;"><span class="stl_202 stl_08 stl_308" style="word-spacing:-0.0447em;">to NNIT development activities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.9685em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">Development costs recognized in the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8016em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">are amortized from completion of the development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.6347em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0378em;">using the straight-line method, over the period the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.4678em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">asset is expected to generate economic benefits.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.1347em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.041em;">Straight-line amortization over the expected useful  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.9678em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0407em;">life of the asset:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:38.0372em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:38.0372em;"><span class="stl_202 stl_08 stl_34" style="word-spacing:-0.0322em;">IT projects: 5-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:6.9678em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">Intangible assets that are in use and subject to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.801em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">amortization are tested for impairment whenever  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:8.6341em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.042em;">events or changes in circumstances indicate that the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.4672em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">carrying amount may not be recoverable. Factors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.3004em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">that could trigger an impairment test include  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.1335em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">changes in the economic lifes of similar assets or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.9666em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">the relationship with other intangible assets or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.7997em;"><span class="stl_202 stl_08 stl_514" style="word-spacing:-0.0465em;">tangible assets.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.4666em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">Intangible assets under construction are tested for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.2997em;z-index:1606;"><span class="stl_202 stl_08 stl_174" style="word-spacing:-0.0235em;">impairment once a year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.9666em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0418em;">If the carrying amount of intangible assets exceeds  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.7997em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0365em;">the recoverable amount based upon the above indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:18.6328em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.038em;">cators of impairment, any impairment loss is meas-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.466em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">ured based on discounted future cash flows.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.1328em;"><span class="stl_264 stl_08 stl_212" style="word-spacing:-0.0282em;">Tangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.966em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">Tangible fixed assets are measured at cost less  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:22.7991em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">accumulated depreciation and any impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.6322em;"><span class="stl_202 stl_08 stl_270">losses.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.2991em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.037em;">Cost price includes the purchase price and costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.1322em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0368em;">relating directly to the purchase. Subsequent costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.9654em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0398em;">are either included in the carrying amount of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.7985em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0364em;">asset or recognized as a separate asset, where  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:28.6316em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0382em;">there are likely future economic benefits for the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.4647em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">Group and the value of the asset can be reliably  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:30.2978em;"><span class="stl_202 stl_08 stl_186">measured.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.9647em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0397em;">The depreciable amount of the assets is depreciated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.7978em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">on a straight-line basis over the following estimated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:33.631em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">useful life periods:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:34.7003em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.4413em;top:34.7003em;"><span class="stl_202 stl_08 stl_68" style="word-spacing:-0.029em;">Other equipment: 3-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.7697em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.4413em;top:35.7697em;"><span class="stl_202 stl_08 stl_165" style="word-spacing:-0.0298em;">Leasehold improvements: 5-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:6.9641em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0394em;">Asset residual values and useful life's are assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:7.7972em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0334em;">and, where required, adjusted on each balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:8.6303em;"><span class="stl_202 stl_08 stl_275" style="word-spacing:-0.0299em;">sheet date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:10.2972em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0337em;">Tangible assets are tested for impairment if  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.1303em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">there are indications of impairment. The carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.9635em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">amount of an asset is written down to its recover-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.7966em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">able amount if the carrying amount exceeds the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.6297em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0364em;">estimated recoverable amount. The recoverable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.4628em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">amount for the asset is determined as the higher  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.296em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0378em;">of fair value less costs to sell and net present value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.1291em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.039em;">of future net cash flows from continued use. If the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.9622em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0372em;">recoverable amount of an individual asset cannot  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:17.7953em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">be determined, value in use is determined for the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:18.6285em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0386em;">smallest group of assets for which it is possible to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:19.4616em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0432em;">determine a recoverable amount. Impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.2947em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">are recognized in the income statement under the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:21.1278em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0389em;">relevant functional areas.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:22.7947em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">Depreciation and gains or losses from disposal of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:23.6278em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">tangible assets are recognized in the income state-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:24.461em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">ment under cost of goods sold, sale and marketing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:25.2941em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0433em;">costs and administrative expenses respectively.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.0111em;"><span class="stl_527 stl_08 stl_113" style="word-spacing:-0.0002em;">2.4 Amortization, depreciation and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.3315em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:17.3315em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:17.3315em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.9953em;"><span class="stl_267 stl_08 stl_90">Amortization  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:18.9953em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:18.9953em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.0053em;"><span class="stl_267 stl_08 stl_236">Depreciation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9125em;top:20.0053em;"><span class="stl_267 stl_08 stl_460">46  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6482em;top:20.0053em;"><span class="stl_267 stl_08 stl_351">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.0153em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0329em;">Total amortization, depreciation, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9238em;top:21.0153em;"><span class="stl_274 stl_08 stl_520">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.64em;top:21.0153em;"><span class="stl_274 stl_08 stl_707">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.0253em;"><span class="stl_267 stl_08 stl_321" style="word-spacing:-0.0394em;">Total amortization, depreciation, and impairment losses,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8584em;"><span class="stl_267 stl_08 stl_203" style="word-spacing:-0.0371em;">discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:22.8584em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:22.8584em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.8684em;"><span class="stl_264 stl_08 stl_387" style="word-spacing:-0.0335em;">Total amortization, depreciation, and impairment losses,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.7015em;"><span class="stl_264 stl_08 stl_424" style="word-spacing:-0.0309em;">continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9238em;top:24.7015em;"><span class="stl_274 stl_08 stl_520">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6369em;top:24.7015em;"><span class="stl_274 stl_08 stl_851">28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.3065em;"><span class="stl_264 stl_08 stl_237" style="word-spacing:-0.0357em;">Amortization, depreciation and impairment losses are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.1397em;"><span class="stl_264 stl_08 stl_266" style="word-spacing:-0.0354em;">recognized in the income statement:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.1497em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.98em;top:28.1497em;"><span class="stl_267 stl_08 stl_810">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:28.1497em;"><span class="stl_267 stl_08 stl_19">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.1597em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0412em;">Sales and marketing costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:29.1597em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:29.1597em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.1697em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0426em;">Administrative expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9238em;top:30.1697em;"><span class="stl_267 stl_08 stl_351">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6557em;top:30.1697em;"><span class="stl_267 stl_08 stl_116">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:31.1797em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2969em;top:31.1797em;"><span class="stl_267 stl_08 stl_19">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1775em;top:31.1797em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:32.1897em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0329em;">Total amortization, depreciation, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9244em;top:32.1897em;"><span class="stl_274 stl_08 stl_520">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6375em;top:32.1897em;"><span class="stl_274 stl_08 stl_851">28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3825em;"><span class="stl_527 stl_08 stl_198" style="word-spacing:0.2292em;">3.1 Intangible</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:10.221em;top:10.3825em;"><span class="stl_527 stl_08 stl_424">assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6182em;top:11.7029em;"><span class="stl_263 stl_08 stl_239">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.5075em;top:11.7029em;"><span class="stl_263 stl_08 stl_734">IT  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.0407em;top:11.7029em;"><span class="stl_263 stl_08 stl_246" style="word-spacing:-0.0396em;">IT development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3763em;top:12.4529em;"><span class="stl_263 stl_08 stl_256">intangible  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.0732em;top:12.4529em;"><span class="stl_263 stl_08 stl_236">development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.2982em;top:12.4529em;"><span class="stl_263 stl_08 stl_494" style="word-spacing:-0.0445em;">projects under  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.2029em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.0557em;top:13.2029em;"><span class="stl_263 stl_08 stl_268">Goodwill  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.4832em;top:13.2029em;"><span class="stl_263 stl_08 stl_218">assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.5932em;top:13.2029em;"><span class="stl_263 stl_08 stl_491">projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.8938em;top:13.2029em;"><span class="stl_263 stl_08 stl_303">construction  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.8888em;top:13.2029em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7232em;top:14.8667em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7232em;top:16.1267em;"><span class="stl_267 stl_08 stl_200" style="word-spacing:-0.0394em;">Costs at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5982em;top:16.1267em;"><span class="stl_267 stl_08 stl_734">686  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6532em;top:16.1267em;"><span class="stl_267 stl_08 stl_58">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6888em;top:16.1267em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0263em;top:16.1267em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2975em;top:16.1267em;"><span class="stl_267 stl_08 stl_288">7</span><span class="stl_267 stl_08 stl_287">4</span><span class="stl_267 stl_08 stl_287">4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7232em;top:17.1367em;"><span class="stl_267 stl_08 stl_320">Additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5063em;top:17.1367em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1757em;top:17.1367em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.845em;top:17.1367em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0225em;top:17.1367em;"><span class="stl_267 stl_08 stl_45">51  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6919em;top:17.1367em;"><span class="stl_267 stl_08 stl_45">51  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7232em;top:18.1467em;"><span class="stl_267 stl_08 stl_121">Disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5063em;top:18.1467em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4507em;top:18.1467em;"><span class="stl_267 stl_08 stl_181">(20)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.4857em;top:18.1467em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5144em;top:18.1467em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.45em;top:18.1467em;"><span class="stl_267 stl_08 stl_255">(23)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7232em;top:19.1567em;"><span class="stl_267 stl_08 stl_31">Transfer  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5063em;top:19.1567em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1757em;top:19.1567em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3132em;top:19.1567em;"><span class="stl_267 stl_08 stl_506">58  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.785em;top:19.1567em;"><span class="stl_267 stl_08 stl_215">(58)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.1838em;top:19.1567em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:20.1667em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0382em;">Exchange rate adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.0188em;top:20.1667em;"><span class="stl_267 stl_08 stl_816">19  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.02em;top:20.1667em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8457em;top:20.1667em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.3588em;top:20.1667em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6719em;top:20.1667em;"><span class="stl_267 stl_08 stl_721">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:21.1767em;"><span class="stl_264 stl_08 stl_492" style="word-spacing:-0.0338em;">Cost at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5969em;top:21.1767em;"><span class="stl_274 stl_08 stl_544">705  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6638em;top:21.1767em;"><span class="stl_274 stl_08 stl_192">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3394em;top:21.1767em;"><span class="stl_274 stl_08 stl_452">61  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.3588em;top:21.1767em;"><span class="stl_274 stl_08 stl_19">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2775em;top:21.1767em;"><span class="stl_274 stl_08 stl_582">793  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:22.7817em;"><span class="stl_267 stl_08 stl_230" style="word-spacing:-0.0407em;">Amortization and impairment loss at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5069em;top:22.7817em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6538em;top:22.7817em;"><span class="stl_267 stl_08 stl_58">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6894em;top:22.7817em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.515em;top:22.7817em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6432em;top:22.7817em;"><span class="stl_267 stl_08 stl_851">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:23.7917em;"><span class="stl_267 stl_08 stl_90">Amortization  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5069em;top:23.7917em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1763em;top:23.7917em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6894em;top:23.7917em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.515em;top:23.7917em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.0282em;top:23.7917em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.8017em;"><span class="stl_267 stl_08 stl_270" style="word-spacing:-0.0442em;">Amortizations reversed on disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5075em;top:24.8017em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4519em;top:24.8017em;"><span class="stl_267 stl_08 stl_181">(20)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.5357em;top:24.8017em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5157em;top:24.8017em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.4975em;top:24.8017em;"><span class="stl_267 stl_08 stl_798">(21)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:25.8117em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0382em;">Exchange rate adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5082em;top:25.8117em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0213em;top:25.8117em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8469em;top:25.8117em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5163em;top:25.8117em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.0294em;top:25.8117em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:26.8217em;"><span class="stl_264 stl_08 stl_245" style="word-spacing:-0.0354em;">Amortization and impairment losses at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5088em;top:26.8217em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6657em;top:26.8217em;"><span class="stl_274 stl_08 stl_192">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6919em;top:26.8217em;"><span class="stl_274 stl_08 stl_19">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5169em;top:26.8217em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6532em;top:26.8217em;"><span class="stl_274 stl_08 stl_289">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:28.4267em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.0349em;">Carrying amount at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5988em;top:28.4267em;"><span class="stl_274 stl_08 stl_544">705  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1782em;top:28.4267em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3138em;top:28.4267em;"><span class="stl_274 stl_08 stl_307">53  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.3613em;top:28.4267em;"><span class="stl_274 stl_08 stl_19">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2919em;top:28.4267em;"><span class="stl_274 stl_08 stl_256">767  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:30.0317em;"><span class="stl_267 stl_08 stl_484" style="word-spacing:-0.0483em;">Amortization period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.6719em;top:30.0317em;"><span class="stl_267 stl_08 stl_369" style="word-spacing:-0.0333em;">2-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.0063em;top:30.0317em;"><span class="stl_267 stl_08 stl_38" style="word-spacing:-0.0182em;">3-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:31.6429em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.04em;">IT development projects includes NNIT's ERP system which is used as the basis for the Group's day-to-day operations and internal IT-systems  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.1988em;top:32.4761em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0408em;">and developed applications for customer services.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:33.3092em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0416em;">IT development projects under construction consists of both internal IT-systems and developed applications for customer services.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6182em;top:6.9785em;"><span class="stl_263 stl_08 stl_239">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.5075em;top:6.9785em;"><span class="stl_263 stl_08 stl_734">IT  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.0407em;top:6.9785em;"><span class="stl_263 stl_08 stl_246" style="word-spacing:-0.0396em;">IT development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3763em;top:7.7285em;"><span class="stl_263 stl_08 stl_256">intangible  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.0732em;top:7.7285em;"><span class="stl_263 stl_08 stl_236">development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.2982em;top:7.7285em;"><span class="stl_263 stl_08 stl_494" style="word-spacing:-0.0445em;">projects under  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.4785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.0557em;top:8.4785em;"><span class="stl_263 stl_08 stl_268">Goodwill  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.4832em;top:8.4785em;"><span class="stl_263 stl_08 stl_218">assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.5932em;top:8.4785em;"><span class="stl_263 stl_08 stl_491">projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.8938em;top:8.4785em;"><span class="stl_263 stl_08 stl_303">construction  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.8919em;top:8.4785em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7225em;top:10.1423em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7225em;top:11.4023em;"><span class="stl_267 stl_08 stl_200" style="word-spacing:-0.0394em;">Costs at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.61em;top:11.4023em;"><span class="stl_267 stl_08 stl_247">696  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6525em;top:11.4023em;"><span class="stl_267 stl_08 stl_58">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3244em;top:11.4023em;"><span class="stl_267 stl_08 stl_149">67  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.3575em;top:11.4023em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2857em;top:11.4023em;"><span class="stl_267 stl_08 stl_532">802  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7225em;top:12.4123em;"><span class="stl_267 stl_08 stl_320">Additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5057em;top:12.4123em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.175em;top:12.4123em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6882em;top:12.4123em;"><span class="stl_267 stl_08 stl_19">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0257em;top:12.4123em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6619em;top:12.4123em;"><span class="stl_267 stl_08 stl_112">24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7225em;top:13.4223em;"><span class="stl_267 stl_08 stl_340">Disposals</span><sup style="top: -0.2087em;"><span class="stl_281 stl_08 stl_855">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5076em;top:13.4217em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:13.4217em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.1019em;top:13.4217em;"><span class="stl_267 stl_08 stl_523">(72)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5157em;top:13.4217em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.4407em;top:13.4217em;"><span class="stl_267 stl_08 stl_523">(72)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4317em;"><span class="stl_267 stl_08 stl_31">Transfer  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5076em;top:14.4317em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:14.4317em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.69em;top:14.4317em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.1607em;top:14.4317em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.1844em;top:14.4317em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.4417em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0381em;">Exchange rate adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8282em;top:15.4417em;"><span class="stl_267 stl_08 stl_570">(10)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:15.4417em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8463em;top:15.4417em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5157em;top:15.4417em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.5057em;top:15.4417em;"><span class="stl_267 stl_08 stl_570">(10)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:16.4517em;"><span class="stl_264 stl_08 stl_492" style="word-spacing:-0.0338em;">Cost at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5857em;top:16.4517em;"><span class="stl_274 stl_08 stl_459">686  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6425em;top:16.4517em;"><span class="stl_274 stl_08 stl_353">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6913em;top:16.4517em;"><span class="stl_274 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0051em;top:16.4517em;"><span class="stl_274 stl_08 stl_379">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2888em;top:16.4517em;"><span class="stl_274 stl_08 stl_305">744  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7251em;top:18.0567em;"><span class="stl_267 stl_08 stl_230" style="word-spacing:-0.0407em;">Amortization and impairment loss at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5082em;top:18.0567em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6551em;top:18.0567em;"><span class="stl_267 stl_08 stl_58">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3326em;top:18.0567em;"><span class="stl_267 stl_08 stl_421">59  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5163em;top:18.0567em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6532em;top:18.0567em;"><span class="stl_267 stl_08 stl_734">96  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:19.0667em;"><span class="stl_267 stl_08 stl_90">Amortization  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5088em;top:19.0667em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1782em;top:19.0667em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8476em;top:19.0667em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5169em;top:19.0667em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.1863em;top:19.0667em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:20.0767em;"><span class="stl_267 stl_08 stl_270" style="word-spacing:-0.0442em;">Amortizations reversed on disposals</span><sup style="top: -0.2096em;"><span class="stl_281 stl_08 stl_595" style="word-spacing:-0.0758em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5076em;top:20.0752em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:20.0752em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.1107em;top:20.0752em;"><span class="stl_267 stl_08 stl_228">(56)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5151em;top:20.0752em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.4488em;top:20.0752em;"><span class="stl_267 stl_08 stl_228">(56)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:21.0852em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0381em;">Exchange rate adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5069em;top:21.0852em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1763em;top:21.0852em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8457em;top:21.0852em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5151em;top:21.0852em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.1844em;top:21.0852em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:22.0952em;"><span class="stl_264 stl_08 stl_245" style="word-spacing:-0.0354em;">Amortization and impairment losses at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5069em;top:22.0952em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6413em;top:22.0952em;"><span class="stl_274 stl_08 stl_353">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6901em;top:22.0952em;"><span class="stl_274 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5151em;top:22.0952em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6401em;top:22.0952em;"><span class="stl_274 stl_08 stl_748">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:23.7002em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.0349em;">Carrying amount at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5844em;top:23.7002em;"><span class="stl_274 stl_08 stl_459">686  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1763em;top:23.7002em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6901em;top:23.7002em;"><span class="stl_274 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0038em;top:23.7002em;"><span class="stl_274 stl_08 stl_379">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.2676em;top:23.7002em;"><span class="stl_274 stl_08 stl_292">704  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:25.3052em;"><span class="stl_267 stl_08 stl_484" style="word-spacing:-0.0483em;">Amortization period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.6694em;top:25.3052em;"><span class="stl_267 stl_08 stl_369" style="word-spacing:-0.0333em;">2-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.0038em;top:25.3052em;"><span class="stl_267 stl_08 stl_38" style="word-spacing:-0.0182em;">3-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.7996em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_332" style="word-spacing:-0.0474em;">ꢀWhereof DKK 26 Million relates to discontinued operations.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.3829em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_421">2</span></sup><span class="stl_350 stl_08 stl_356" style="word-spacing:-0.0471em;">- Whereof DKK 10 Million relates to discontinued operations.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.7913em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.04em;">IT development projects includes NNIT's ERP system which is used as the basis for the Group's day-to-day operations and internal IT-systems  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.6244em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0408em;">and developed applications for customer services.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.2913em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0416em;">IT development projects under construction consists of both internal IT-systems and developed applications for customer services.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_858" style="word-spacing:0.0594em;">3.3 </span><span class="stl_527 stl_08 stl_859">T</span><span class="stl_527 stl_08 stl_145" style="word-spacing:-0.0246em;">angible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.9488em;top:6.9785em;"><span class="stl_263 stl_08 stl_239">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3082em;top:6.9785em;"><span class="stl_263 stl_08 stl_244">Leasehold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.7285em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.4207em;top:7.7285em;"><span class="stl_263 stl_08 stl_255">equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.9888em;top:7.7285em;"><span class="stl_263 stl_08 stl_408">improvements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.5513em;top:7.7285em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.3923em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.6523em;"><span class="stl_267 stl_08 stl_234" style="word-spacing:-0.0376em;">Cost at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3513em;top:10.6523em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6475em;top:10.6523em;"><span class="stl_267 stl_08 stl_351">56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3563em;top:10.6523em;"><span class="stl_267 stl_08 stl_288">61  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:11.6623em;"><span class="stl_267 stl_08 stl_320">Additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3519em;top:11.6623em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6919em;top:11.6623em;"><span class="stl_267 stl_08 stl_818">13  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3538em;top:11.6623em;"><span class="stl_267 stl_08 stl_286">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:12.6723em;"><span class="stl_267 stl_08 stl_121">Disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5082em;top:12.6723em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.455em;top:12.6723em;"><span class="stl_267 stl_08 stl_145">(53)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.1244em;top:12.6723em;"><span class="stl_267 stl_08 stl_145">(53)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:13.6823em;"><span class="stl_267 stl_08 stl_246" style="word-spacing:-0.0403em;">Exchange rate adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3519em;top:13.6823em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.8669em;top:13.6823em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8469em;top:13.6823em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:14.6923em;"><span class="stl_264 stl_08 stl_492" style="word-spacing:-0.0338em;">Cost at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.0107em;top:14.6923em;"><span class="stl_274 stl_08 stl_825">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6657em;top:14.6923em;"><span class="stl_274 stl_08 stl_379">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3132em;top:14.6923em;"><span class="stl_274 stl_08 stl_289">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.2973em;"><span class="stl_267 stl_08 stl_203" style="word-spacing:-0.0371em;">Depreciation and impairment loss at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3513em;top:16.2973em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6457em;top:16.2973em;"><span class="stl_267 stl_08 stl_516">50  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3188em;top:16.2973em;"><span class="stl_267 stl_08 stl_268">53  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.3073em;"><span class="stl_267 stl_08 stl_236">Depreciation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3513em;top:17.3073em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:17.3073em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.69em;top:17.3073em;"><span class="stl_267 stl_08 stl_19">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.3173em;"><span class="stl_267 stl_08 stl_321" style="word-spacing:-0.0396em;">Depreciation reversed on disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5075em;top:18.3173em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4457em;top:18.3173em;"><span class="stl_267 stl_08 stl_257">(50)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.115em;top:18.3173em;"><span class="stl_267 stl_08 stl_257">(50)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.3273em;"><span class="stl_264 stl_08 stl_386" style="word-spacing:-0.0328em;">Depreciation and impairment loss at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3519em;top:19.3273em;"><span class="stl_274 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0213em;top:19.3273em;"><span class="stl_274 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3488em;top:19.3273em;"><span class="stl_274 stl_08 stl_825">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.3466em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.0349em;">Carrying amount at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3519em;top:21.3466em;"><span class="stl_274 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6619em;top:21.3466em;"><span class="stl_274 stl_08 stl_462">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3344em;top:21.3466em;"><span class="stl_274 stl_08 stl_379">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.9516em;"><span class="stl_267 stl_08 stl_408" style="word-spacing:-0.0393em;">Depreciation period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6663em;top:22.9516em;"><span class="stl_267 stl_08 stl_38" style="word-spacing:-0.0182em;">3-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3325em;top:22.9516em;"><span class="stl_267 stl_08 stl_135" style="word-spacing:-0.0199em;">5-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:24.9104em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0408em;">NNIT's fixed assets register is inspected on a regular basis to identify assets, which are no longer in use. Such assets are scrapped.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_858" style="word-spacing:0.0594em;">3.3 </span><span class="stl_527 stl_08 stl_859">T</span><span class="stl_527 stl_08 stl_26" style="word-spacing:-0.0214em;">angible assets – continued  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.8125em;top:6.9785em;"><span class="stl_263 stl_08 stl_250" style="word-spacing:-0.042em;">Payments on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:44.0482em;top:7.7285em;"><span class="stl_263 stl_08 stl_34" style="word-spacing:-0.0324em;">account and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.92em;top:8.4785em;"><span class="stl_263 stl_08 stl_493" style="word-spacing:-0.0456em;">Land and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6188em;top:8.4785em;"><span class="stl_263 stl_08 stl_239">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.9782em;top:8.4785em;"><span class="stl_263 stl_08 stl_244">Leasehold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.8594em;top:8.4785em;"><span class="stl_263 stl_08 stl_305" style="word-spacing:-0.0432em;">assets under  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.2285em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.9675em;top:9.2285em;"><span class="stl_263 stl_08 stl_237">buildings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.0907em;top:9.2285em;"><span class="stl_263 stl_08 stl_255">equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.6588em;top:9.2285em;"><span class="stl_263 stl_08 stl_408">improvements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.8963em;top:9.2285em;"><span class="stl_263 stl_08 stl_303">construction  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.8944em;top:9.2285em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:10.8923em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:12.1523em;"><span class="stl_267 stl_08 stl_234" style="word-spacing:-0.0376em;">Cost at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3519em;top:12.1523em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0213em;top:12.1523em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.325em;top:12.1523em;"><span class="stl_267 stl_08 stl_116">55  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5157em;top:12.1523em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6532em;top:12.1523em;"><span class="stl_267 stl_08 stl_734">66  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:13.1623em;"><span class="stl_267 stl_08 stl_320">Additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5082em;top:13.1623em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6807em;top:13.1623em;"><span class="stl_267 stl_08 stl_74">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8469em;top:13.1623em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0313em;top:13.1623em;"><span class="stl_267 stl_08 stl_819">12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6519em;top:13.1623em;"><span class="stl_267 stl_08 stl_602">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:14.1723em;"><span class="stl_267 stl_08 stl_121">Disposal</span><span class="stl_267 stl_08 stl_860">s</span><sup style="top: -0.2087em;"><span class="stl_281 stl_08 stl_861">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1529em;top:14.1717em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.5129em;top:14.1717em;"><span class="stl_267 stl_08 stl_716">(13)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8461em;top:14.1717em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.8529em;top:14.1717em;"><span class="stl_267 stl_08 stl_811">(12)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.4392em;top:14.1717em;"><span class="stl_267 stl_08 stl_403">(27)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7242em;top:15.1817em;"><span class="stl_267 stl_08 stl_31">Transfer  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1479em;top:15.1817em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0204em;top:15.1817em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6898em;top:15.1817em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5154em;top:15.1817em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.1848em;top:15.1817em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7248em;top:16.1917em;"><span class="stl_264 stl_08 stl_492" style="word-spacing:-0.0338em;">Cost at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5079em;top:16.1917em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0217em;top:16.1917em;"><span class="stl_274 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3098em;top:16.1917em;"><span class="stl_274 stl_08 stl_707">56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.516em;top:16.1917em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6792em;top:16.1917em;"><span class="stl_274 stl_08 stl_452">61  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7248em;top:17.7967em;"><span class="stl_267 stl_08 stl_203" style="word-spacing:-0.0371em;">Depreciation and impairment loss at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5079em;top:17.7967em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0211em;top:17.7967em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3067em;top:17.7967em;"><span class="stl_267 stl_08 stl_460">46  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5161em;top:17.7967em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6667em;top:17.7967em;"><span class="stl_267 stl_08 stl_454">49  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7254em;top:18.8067em;"><span class="stl_267 stl_08 stl_236">Depreciation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5086em;top:18.8067em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0217em;top:18.8067em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6911em;top:18.8067em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5167em;top:18.8067em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.0298em;top:18.8067em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.726em;top:19.8167em;"><span class="stl_267 stl_08 stl_321" style="word-spacing:-0.0396em;">Depreciation reversed on disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5092em;top:19.8167em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.8679em;top:19.8167em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8479em;top:19.8167em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5173em;top:19.8167em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.876em;top:19.8167em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.726em;top:20.8267em;"><span class="stl_264 stl_08 stl_386" style="word-spacing:-0.0328em;">Depreciation and impairment loss at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5092em;top:20.8267em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0229em;top:20.8267em;"><span class="stl_274 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3123em;top:20.8267em;"><span class="stl_274 stl_08 stl_294">50  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5173em;top:20.8267em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6529em;top:20.8267em;"><span class="stl_274 stl_08 stl_307">53  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7267em;top:22.846em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.0349em;">Carrying amount at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5098em;top:22.846em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0235em;top:22.846em;"><span class="stl_274 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6929em;top:22.846em;"><span class="stl_274 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5179em;top:22.846em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.0317em;top:22.846em;"><span class="stl_274 stl_08 stl_19">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7273em;top:24.451em;"><span class="stl_267 stl_08 stl_408" style="word-spacing:-0.0393em;">Depreciation period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2504em;top:24.451em;"><span class="stl_267 stl_08 stl_246" style="word-spacing:-0.0402em;">10-50 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3379em;top:24.451em;"><span class="stl_267 stl_08 stl_38" style="word-spacing:-0.0182em;">3-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.0042em;top:24.451em;"><span class="stl_267 stl_08 stl_135" style="word-spacing:-0.0199em;">5-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.8952em;"><span class="stl_862 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.0951em;top:25.9584em;"><span class="stl_350 stl_08 stl_510" style="word-spacing:-0.0484em;">Whereof DKK 26 million relates to discontinued operations.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.3668em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0408em;">NNIT's fixed assets register is inspected on a regular basis to identify assets, which are no longer in use. Such assets are scrapped.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:5.658em;"><span class="stl_527 stl_08 stl_309" style="word-spacing:0.0819em;">4.3 Leases  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:7.2147em;"><span class="stl_264 stl_08 stl_17" style="word-spacing:-0.0438em;">Lease assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.5452em;top:7.6929em;"><span class="stl_263 stl_08 stl_243" style="word-spacing:-0.04em;">Rental of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.2695em;top:7.6929em;"><span class="stl_263 stl_08 stl_243" style="word-spacing:-0.04em;">Rental of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.8239em;top:7.6929em;"><span class="stl_263 stl_08 stl_233">Company  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:8.4429em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.4652em;top:8.4429em;"><span class="stl_263 stl_08 stl_120">premises  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.6577em;top:8.4429em;"><span class="stl_263 stl_08 stl_255">equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4183em;top:8.4429em;"><span class="stl_263 stl_08 stl_517">cars  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9433em;top:8.4429em;"><span class="stl_263 stl_08 stl_178">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.1066em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.3666em;"><span class="stl_267 stl_08 stl_200" style="word-spacing:-0.0394em;">Costs at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.1145em;top:11.3666em;"><span class="stl_267 stl_08 stl_518">246  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.7439em;top:11.3666em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9345em;top:11.3666em;"><span class="stl_267 stl_08 stl_602">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2977em;top:11.3666em;"><span class="stl_267 stl_08 stl_203">268  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:12.3766em;"><span class="stl_267 stl_08 stl_320">Additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.2308em;top:12.3766em;"><span class="stl_267 stl_08 stl_810">111  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.2589em;top:12.3766em;"><span class="stl_267 stl_08 stl_819">12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.312em;top:12.3766em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3433em;top:12.3766em;"><span class="stl_267 stl_08 stl_817">127  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.3866em;"><span class="stl_267 stl_08 stl_121">Disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.3083em;top:13.3866em;"><span class="stl_267 stl_08 stl_139">(62)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.7439em;top:13.3866em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.8414em;top:13.3866em;"><span class="stl_267 stl_08 stl_747">(11)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4451em;top:13.3866em;"><span class="stl_267 stl_08 stl_90">(73)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:14.3966em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0381em;">Exchange rate adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.8633em;top:14.3966em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.7439em;top:14.3966em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:14.3966em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:14.3966em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.4066em;"><span class="stl_264 stl_08 stl_249" style="word-spacing:-0.0348em;">Costs at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.0995em;top:15.4066em;"><span class="stl_274 stl_08 stl_594">296  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.2401em;top:15.4066em;"><span class="stl_274 stl_08 stl_65">12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9564em;top:15.4066em;"><span class="stl_274 stl_08 stl_379">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2758em;top:15.4066em;"><span class="stl_274 stl_08 stl_292">323  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:17.0116em;"><span class="stl_267 stl_08 stl_121" style="word-spacing:-0.0383em;">Depreciation and impairment loss at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:17.8447em;"><span class="stl_267 stl_08 stl_237" style="word-spacing:-0.0363em;">the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.1901em;top:17.8447em;"><span class="stl_267 stl_08 stl_439">211  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.7433em;top:17.8447em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9826em;top:17.8447em;"><span class="stl_267 stl_08 stl_819">12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2795em;top:17.8447em;"><span class="stl_267 stl_08 stl_544">223  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:18.8997em;"><span class="stl_267 stl_08 stl_236">Depreciation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.4783em;top:18.8997em;"><span class="stl_267 stl_08 stl_460">34  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.587em;top:18.8997em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3114em;top:18.8997em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6602em;top:18.8997em;"><span class="stl_267 stl_08 stl_506">38  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:19.9097em;"><span class="stl_267 stl_08 stl_321" style="word-spacing:-0.0396em;">Depreciation reversed on disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.307em;top:19.9097em;"><span class="stl_267 stl_08 stl_63">(59)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.7427em;top:19.9097em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.1139em;top:19.9097em;"><span class="stl_267 stl_08 stl_149">(6)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4708em;top:19.9097em;"><span class="stl_267 stl_08 stl_35">(65)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:20.9197em;"><span class="stl_264 stl_08 stl_492" style="word-spacing:-0.0332em;">Depreciation and impairment loss  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:21.7529em;"><span class="stl_850 stl_08 stl_186" style="word-spacing:-0.0316em;">at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.1233em;top:21.7529em;"><span class="stl_274 stl_08 stl_256">186  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.587em;top:21.7529em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3114em;top:21.7529em;"><span class="stl_274 stl_08 stl_19">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2952em;top:21.7529em;"><span class="stl_274 stl_08 stl_305">196  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:23.7722em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.0349em;">Carrying amount at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.162em;top:23.7722em;"><span class="stl_274 stl_08 stl_726">110  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.2458em;top:23.7722em;"><span class="stl_274 stl_08 stl_825">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.312em;top:23.7722em;"><span class="stl_274 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3083em;top:23.7722em;"><span class="stl_274 stl_08 stl_170">127  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_264 stl_08 stl_17" style="word-spacing:-0.0438em;">Lease assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.5294em;top:7.4497em;"><span class="stl_263 stl_08 stl_243" style="word-spacing:-0.04em;">Rental of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.2538em;top:7.4497em;"><span class="stl_263 stl_08 stl_243" style="word-spacing:-0.04em;">Rental of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.8082em;top:7.4497em;"><span class="stl_263 stl_08 stl_233">Company  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.1997em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.4494em;top:8.1997em;"><span class="stl_263 stl_08 stl_120">premises  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.6419em;top:8.1997em;"><span class="stl_263 stl_08 stl_255">equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4025em;top:8.1997em;"><span class="stl_263 stl_08 stl_517">cars  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:8.1997em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.8635em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1235em;"><span class="stl_267 stl_08 stl_200" style="word-spacing:-0.0394em;">Costs at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.1838em;top:11.1235em;"><span class="stl_267 stl_08 stl_816">617  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.2419em;top:11.1235em;"><span class="stl_267 stl_08 stl_818">17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9638em;top:11.1235em;"><span class="stl_267 stl_08 stl_816">19  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.28em;top:11.1235em;"><span class="stl_267 stl_08 stl_253">653  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:12.1335em;"><span class="stl_267 stl_08 stl_369">Additions</span><sup style="top: -0.2084em;"><span class="stl_281 stl_08 stl_326">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4799em;top:12.1332em;"><span class="stl_267 stl_08 stl_227">29  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7281em;top:12.1332em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2962em;top:12.1332em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6362em;top:12.1332em;"><span class="stl_267 stl_08 stl_460">34  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:13.1432em;"><span class="stl_267 stl_08 stl_121">Disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.8981em;top:13.1432em;"><span class="stl_267 stl_08 stl_256">(395)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0387em;top:13.1432em;"><span class="stl_267 stl_08 stl_680">(17)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0981em;top:13.1432em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1531em;top:13.1432em;"><span class="stl_267 stl_08 stl_685">(414)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:14.1532em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0382em;">Exchange rate adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.6424em;top:14.1532em;"><span class="stl_267 stl_08 stl_227">(5)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.8156em;top:14.1532em;"><span class="stl_267 stl_08 stl_227">(5)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:15.1632em;"><span class="stl_264 stl_08 stl_249" style="word-spacing:-0.0348em;">Costs at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.0706em;top:15.1632em;"><span class="stl_274 stl_08 stl_864">246  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7281em;top:15.1632em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9131em;top:15.1632em;"><span class="stl_274 stl_08 stl_460">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2593em;top:15.1632em;"><span class="stl_274 stl_08 stl_744">268  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:16.7682em;"><span class="stl_267 stl_08 stl_121" style="word-spacing:-0.0383em;">Depreciation and impairment loss at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:17.6014em;"><span class="stl_267 stl_08 stl_237" style="word-spacing:-0.0363em;">the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.1168em;top:17.6014em;"><span class="stl_267 stl_08 stl_116">520  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.2424em;top:17.6014em;"><span class="stl_267 stl_08 stl_818">17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2962em;top:17.6014em;"><span class="stl_267 stl_08 stl_19">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2668em;top:17.6014em;"><span class="stl_267 stl_08 stl_638">545  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:18.6564em;"><span class="stl_267 stl_08 stl_236">Depreciation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4699em;top:18.6564em;"><span class="stl_267 stl_08 stl_602">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7281em;top:18.6564em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2962em;top:18.6564em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6499em;top:18.6564em;"><span class="stl_267 stl_08 stl_268">28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7249em;top:19.6664em;"><span class="stl_267 stl_08 stl_321" style="word-spacing:-0.0396em;">Depreciation reversed on disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.9081em;top:19.6664em;"><span class="stl_267 stl_08 stl_215">(329)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0387em;top:19.6664em;"><span class="stl_267 stl_08 stl_680">(17)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0981em;top:19.6664em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.0449em;top:19.6664em;"><span class="stl_267 stl_08 stl_734">(348)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7249em;top:20.6764em;"><span class="stl_267 stl_08 stl_246" style="word-spacing:-0.0403em;">Exchange rate adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.6493em;top:20.6764em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7281em;top:20.6764em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4524em;top:20.6764em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.8224em;top:20.6764em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7249em;top:21.6864em;"><span class="stl_264 stl_08 stl_492" style="word-spacing:-0.0332em;">Depreciation and impairment loss  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7249em;top:22.5195em;"><span class="stl_850 stl_08 stl_186" style="word-spacing:-0.0316em;">at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.1343em;top:22.5195em;"><span class="stl_274 stl_08 stl_192">211  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7281em;top:22.5195em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9493em;top:22.5195em;"><span class="stl_274 stl_08 stl_65">12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2537em;top:22.5195em;"><span class="stl_274 stl_08 stl_460">223  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:24.5389em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.0349em;">Carrying amount at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.4693em;top:24.5389em;"><span class="stl_274 stl_08 stl_353">35  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7274em;top:24.5389em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9368em;top:24.5389em;"><span class="stl_274 stl_08 stl_462">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6349em;top:24.5389em;"><span class="stl_274 stl_08 stl_304">45  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.0326em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_305" style="word-spacing:-0.043em;">ꢀWhereof DKK 15 million relates to gain on subleases.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.1328em;"><span class="stl_264 stl_08 stl_212" style="word-spacing:-0.0282em;">Tangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.966em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">Tangible fixed assets are measured at cost less  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:22.7991em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">accumulated depreciation and any impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.6322em;"><span class="stl_202 stl_08 stl_270">losses.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.2991em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.037em;">Cost price includes the purchase price and costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.1322em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0368em;">relating directly to the purchase. Subsequent costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.9654em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0398em;">are either included in the carrying amount of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.7985em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0364em;">asset or recognized as a separate asset, where  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:28.6316em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0382em;">there are likely future economic benefits for the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.4647em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">Group and the value of the asset can be reliably  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:30.2978em;"><span class="stl_202 stl_08 stl_186">measured.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.9647em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0397em;">The depreciable amount of the assets is depreciated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.7978em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">on a straight-line basis over the following estimated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:33.631em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">useful life periods:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:34.7003em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.4413em;top:34.7003em;"><span class="stl_202 stl_08 stl_68" style="word-spacing:-0.029em;">Other equipment: 3-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.7697em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.4413em;top:35.7697em;"><span class="stl_202 stl_08 stl_165" style="word-spacing:-0.0298em;">Leasehold improvements: 5-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:6.9641em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0394em;">Asset residual values and useful life's are assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:7.7972em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0334em;">and, where required, adjusted on each balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:8.6303em;"><span class="stl_202 stl_08 stl_275" style="word-spacing:-0.0299em;">sheet date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:10.2972em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0337em;">Tangible assets are tested for impairment if  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.1303em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">there are indications of impairment. The carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.9635em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">amount of an asset is written down to its recover-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.7966em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">able amount if the carrying amount exceeds the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.6297em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0364em;">estimated recoverable amount. The recoverable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.4628em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">amount for the asset is determined as the higher  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.296em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0378em;">of fair value less costs to sell and net present value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.1291em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.039em;">of future net cash flows from continued use. If the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.9622em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0372em;">recoverable amount of an individual asset cannot  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:17.7953em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">be determined, value in use is determined for the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:18.6285em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0386em;">smallest group of assets for which it is possible to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:19.4616em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0432em;">determine a recoverable amount. Impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.2947em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">are recognized in the income statement under the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:21.1278em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0389em;">relevant functional areas.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:22.7947em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">Depreciation and gains or losses from disposal of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:23.6278em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">tangible assets are recognized in the income state-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:24.461em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">ment under cost of goods sold, sale and marketing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:25.2941em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0433em;">costs and administrative expenses respectively.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.1328em;"><span class="stl_264 stl_08 stl_212" style="word-spacing:-0.0282em;">Tangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.966em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">Tangible fixed assets are measured at cost less  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:22.7991em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">accumulated depreciation and any impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.6322em;"><span class="stl_202 stl_08 stl_270">losses.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.2991em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.037em;">Cost price includes the purchase price and costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.1322em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0368em;">relating directly to the purchase. Subsequent costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.9654em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0398em;">are either included in the carrying amount of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.7985em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0364em;">asset or recognized as a separate asset, where  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:28.6316em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0382em;">there are likely future economic benefits for the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.4647em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0372em;">Group and the value of the asset can be reliably  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:30.2978em;"><span class="stl_202 stl_08 stl_186">measured.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.9647em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0397em;">The depreciable amount of the assets is depreciated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.7978em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">on a straight-line basis over the following estimated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:33.631em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0377em;">useful life periods:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:34.7003em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.4413em;top:34.7003em;"><span class="stl_202 stl_08 stl_68" style="word-spacing:-0.029em;">Other equipment: 3-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.7697em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.4413em;top:35.7697em;"><span class="stl_202 stl_08 stl_165" style="word-spacing:-0.0298em;">Leasehold improvements: 5-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:6.9641em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0394em;">Asset residual values and useful life's are assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:7.7972em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0334em;">and, where required, adjusted on each balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:8.6303em;"><span class="stl_202 stl_08 stl_275" style="word-spacing:-0.0299em;">sheet date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:10.2972em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0337em;">Tangible assets are tested for impairment if  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.1303em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">there are indications of impairment. The carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.9635em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">amount of an asset is written down to its recover-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.7966em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0411em;">able amount if the carrying amount exceeds the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.6297em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0364em;">estimated recoverable amount. The recoverable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.4628em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">amount for the asset is determined as the higher  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.296em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0378em;">of fair value less costs to sell and net present value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.1291em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.039em;">of future net cash flows from continued use. If the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.9622em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0372em;">recoverable amount of an individual asset cannot  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:17.7953em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">be determined, value in use is determined for the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:18.6285em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0386em;">smallest group of assets for which it is possible to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:19.4616em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0432em;">determine a recoverable amount. Impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.2947em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">are recognized in the income statement under the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:21.1278em;"><span class="stl_202 stl_08 stl_200" style="word-spacing:-0.0389em;">relevant functional areas.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:22.7947em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">Depreciation and gains or losses from disposal of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:23.6278em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">tangible assets are recognized in the income state-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:24.461em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">ment under cost of goods sold, sale and marketing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:25.2941em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0433em;">costs and administrative expenses respectively.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_858" style="word-spacing:0.0594em;">3.3 </span><span class="stl_527 stl_08 stl_859">T</span><span class="stl_527 stl_08 stl_145" style="word-spacing:-0.0246em;">angible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.9488em;top:6.9785em;"><span class="stl_263 stl_08 stl_239">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3082em;top:6.9785em;"><span class="stl_263 stl_08 stl_244">Leasehold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.7285em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.4207em;top:7.7285em;"><span class="stl_263 stl_08 stl_255">equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.9888em;top:7.7285em;"><span class="stl_263 stl_08 stl_408">improvements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.5513em;top:7.7285em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.3923em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.6523em;"><span class="stl_267 stl_08 stl_234" style="word-spacing:-0.0376em;">Cost at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3513em;top:10.6523em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6475em;top:10.6523em;"><span class="stl_267 stl_08 stl_351">56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3563em;top:10.6523em;"><span class="stl_267 stl_08 stl_288">61  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:11.6623em;"><span class="stl_267 stl_08 stl_320">Additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3519em;top:11.6623em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6919em;top:11.6623em;"><span class="stl_267 stl_08 stl_818">13  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3538em;top:11.6623em;"><span class="stl_267 stl_08 stl_286">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:12.6723em;"><span class="stl_267 stl_08 stl_121">Disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5082em;top:12.6723em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.455em;top:12.6723em;"><span class="stl_267 stl_08 stl_145">(53)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.1244em;top:12.6723em;"><span class="stl_267 stl_08 stl_145">(53)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:13.6823em;"><span class="stl_267 stl_08 stl_246" style="word-spacing:-0.0403em;">Exchange rate adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3519em;top:13.6823em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.8669em;top:13.6823em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8469em;top:13.6823em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:14.6923em;"><span class="stl_264 stl_08 stl_492" style="word-spacing:-0.0338em;">Cost at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.0107em;top:14.6923em;"><span class="stl_274 stl_08 stl_825">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6657em;top:14.6923em;"><span class="stl_274 stl_08 stl_379">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3132em;top:14.6923em;"><span class="stl_274 stl_08 stl_289">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.2973em;"><span class="stl_267 stl_08 stl_203" style="word-spacing:-0.0371em;">Depreciation and impairment loss at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3513em;top:16.2973em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6457em;top:16.2973em;"><span class="stl_267 stl_08 stl_516">50  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3188em;top:16.2973em;"><span class="stl_267 stl_08 stl_268">53  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.3073em;"><span class="stl_267 stl_08 stl_236">Depreciation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3513em;top:17.3073em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:17.3073em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.69em;top:17.3073em;"><span class="stl_267 stl_08 stl_19">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.3173em;"><span class="stl_267 stl_08 stl_321" style="word-spacing:-0.0396em;">Depreciation reversed on disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5075em;top:18.3173em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4457em;top:18.3173em;"><span class="stl_267 stl_08 stl_257">(50)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.115em;top:18.3173em;"><span class="stl_267 stl_08 stl_257">(50)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.3273em;"><span class="stl_264 stl_08 stl_386" style="word-spacing:-0.0328em;">Depreciation and impairment loss at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3519em;top:19.3273em;"><span class="stl_274 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0213em;top:19.3273em;"><span class="stl_274 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3488em;top:19.3273em;"><span class="stl_274 stl_08 stl_825">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.3466em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.0349em;">Carrying amount at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3519em;top:21.3466em;"><span class="stl_274 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6619em;top:21.3466em;"><span class="stl_274 stl_08 stl_462">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3344em;top:21.3466em;"><span class="stl_274 stl_08 stl_379">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.9516em;"><span class="stl_267 stl_08 stl_408" style="word-spacing:-0.0393em;">Depreciation period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6663em;top:22.9516em;"><span class="stl_267 stl_08 stl_38" style="word-spacing:-0.0182em;">3-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3325em;top:22.9516em;"><span class="stl_267 stl_08 stl_135" style="word-spacing:-0.0199em;">5-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:24.9104em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0408em;">NNIT's fixed assets register is inspected on a regular basis to identify assets, which are no longer in use. Such assets are scrapped.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_858" style="word-spacing:0.0594em;">3.3 </span><span class="stl_527 stl_08 stl_859">T</span><span class="stl_527 stl_08 stl_26" style="word-spacing:-0.0214em;">angible assets – continued  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.8125em;top:6.9785em;"><span class="stl_263 stl_08 stl_250" style="word-spacing:-0.042em;">Payments on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:44.0482em;top:7.7285em;"><span class="stl_263 stl_08 stl_34" style="word-spacing:-0.0324em;">account and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.92em;top:8.4785em;"><span class="stl_263 stl_08 stl_493" style="word-spacing:-0.0456em;">Land and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6188em;top:8.4785em;"><span class="stl_263 stl_08 stl_239">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.9782em;top:8.4785em;"><span class="stl_263 stl_08 stl_244">Leasehold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.8594em;top:8.4785em;"><span class="stl_263 stl_08 stl_305" style="word-spacing:-0.0432em;">assets under  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.2285em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.9675em;top:9.2285em;"><span class="stl_263 stl_08 stl_237">buildings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.0907em;top:9.2285em;"><span class="stl_263 stl_08 stl_255">equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.6588em;top:9.2285em;"><span class="stl_263 stl_08 stl_408">improvements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:43.8963em;top:9.2285em;"><span class="stl_263 stl_08 stl_303">construction  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.8944em;top:9.2285em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:10.8923em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:12.1523em;"><span class="stl_267 stl_08 stl_234" style="word-spacing:-0.0376em;">Cost at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3519em;top:12.1523em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0213em;top:12.1523em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.325em;top:12.1523em;"><span class="stl_267 stl_08 stl_116">55  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5157em;top:12.1523em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6532em;top:12.1523em;"><span class="stl_267 stl_08 stl_734">66  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:13.1623em;"><span class="stl_267 stl_08 stl_320">Additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5082em;top:13.1623em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6807em;top:13.1623em;"><span class="stl_267 stl_08 stl_74">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8469em;top:13.1623em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0313em;top:13.1623em;"><span class="stl_267 stl_08 stl_819">12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6519em;top:13.1623em;"><span class="stl_267 stl_08 stl_602">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:14.1723em;"><span class="stl_267 stl_08 stl_121">Disposal</span><span class="stl_267 stl_08 stl_860">s</span><sup style="top: -0.2087em;"><span class="stl_281 stl_08 stl_861">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1529em;top:14.1717em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.5129em;top:14.1717em;"><span class="stl_267 stl_08 stl_716">(13)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8461em;top:14.1717em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.8529em;top:14.1717em;"><span class="stl_267 stl_08 stl_811">(12)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.4392em;top:14.1717em;"><span class="stl_267 stl_08 stl_403">(27)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7242em;top:15.1817em;"><span class="stl_267 stl_08 stl_31">Transfer  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1479em;top:15.1817em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0204em;top:15.1817em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6898em;top:15.1817em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5154em;top:15.1817em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.1848em;top:15.1817em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7248em;top:16.1917em;"><span class="stl_264 stl_08 stl_492" style="word-spacing:-0.0338em;">Cost at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5079em;top:16.1917em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0217em;top:16.1917em;"><span class="stl_274 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3098em;top:16.1917em;"><span class="stl_274 stl_08 stl_707">56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.516em;top:16.1917em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6792em;top:16.1917em;"><span class="stl_274 stl_08 stl_452">61  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7248em;top:17.7967em;"><span class="stl_267 stl_08 stl_203" style="word-spacing:-0.0371em;">Depreciation and impairment loss at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5079em;top:17.7967em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0211em;top:17.7967em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3067em;top:17.7967em;"><span class="stl_267 stl_08 stl_460">46  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5161em;top:17.7967em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6667em;top:17.7967em;"><span class="stl_267 stl_08 stl_454">49  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7254em;top:18.8067em;"><span class="stl_267 stl_08 stl_236">Depreciation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5086em;top:18.8067em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0217em;top:18.8067em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6911em;top:18.8067em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5167em;top:18.8067em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.0298em;top:18.8067em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.726em;top:19.8167em;"><span class="stl_267 stl_08 stl_321" style="word-spacing:-0.0396em;">Depreciation reversed on disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5092em;top:19.8167em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.8679em;top:19.8167em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8479em;top:19.8167em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5173em;top:19.8167em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.876em;top:19.8167em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.726em;top:20.8267em;"><span class="stl_264 stl_08 stl_386" style="word-spacing:-0.0328em;">Depreciation and impairment loss at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5092em;top:20.8267em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0229em;top:20.8267em;"><span class="stl_274 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3123em;top:20.8267em;"><span class="stl_274 stl_08 stl_294">50  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5173em;top:20.8267em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.6529em;top:20.8267em;"><span class="stl_274 stl_08 stl_307">53  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7267em;top:22.846em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.0349em;">Carrying amount at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5098em;top:22.846em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0235em;top:22.846em;"><span class="stl_274 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.6929em;top:22.846em;"><span class="stl_274 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.5179em;top:22.846em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.0317em;top:22.846em;"><span class="stl_274 stl_08 stl_19">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7273em;top:24.451em;"><span class="stl_267 stl_08 stl_408" style="word-spacing:-0.0393em;">Depreciation period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2504em;top:24.451em;"><span class="stl_267 stl_08 stl_246" style="word-spacing:-0.0402em;">10-50 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3379em;top:24.451em;"><span class="stl_267 stl_08 stl_38" style="word-spacing:-0.0182em;">3-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.0042em;top:24.451em;"><span class="stl_267 stl_08 stl_135" style="word-spacing:-0.0199em;">5-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.8952em;"><span class="stl_862 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.0951em;top:25.9584em;"><span class="stl_350 stl_08 stl_510" style="word-spacing:-0.0484em;">Whereof DKK 26 million relates to discontinued operations.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.3668em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0408em;">NNIT's fixed assets register is inspected on a regular basis to identify assets, which are no longer in use. Such assets are scrapped.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.1285em;"><span class="stl_264 stl_08 stl_270" style="word-spacing:-0.0446em;">Assets classified as held for sale  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.9616em;"><span class="stl_202 stl_08 stl_514" style="word-spacing:-0.0468em;">Assets classified as held for sale comprise assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.7947em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">and liabilities for which it is highly likely that the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.6278em;"><span class="stl_202 stl_08 stl_423" style="word-spacing:-0.0311em;">value will be recovered through a sale within 12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.461em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0408em;">months rather than through continued use. Assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.2941em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">and liabilities classified as held for sale are meas-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.1272em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">ured at the lower of the carrying amount and fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.9603em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">value less cost to sell at the classification date as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:17.7935em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">“held for sale”. Assets held for sale are not depre-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:18.6266em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0423em;">ciated. Impairment losses arising on first classifi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:19.4597em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0403em;">cation as “held for sale” and gains and losses from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.2928em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0331em;">the subsequent measurement is recognized in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:21.126em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0368em;">income statement under the items they concern.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.1285em;"><span class="stl_264 stl_08 stl_270" style="word-spacing:-0.0446em;">Assets classified as held for sale  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.9616em;"><span class="stl_202 stl_08 stl_514" style="word-spacing:-0.0468em;">Assets classified as held for sale comprise assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.7947em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">and liabilities for which it is highly likely that the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.6278em;"><span class="stl_202 stl_08 stl_423" style="word-spacing:-0.0311em;">value will be recovered through a sale within 12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.461em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0408em;">months rather than through continued use. Assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.2941em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">and liabilities classified as held for sale are meas-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.1272em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">ured at the lower of the carrying amount and fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.9603em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">value less cost to sell at the classification date as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:17.7935em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">“held for sale”. Assets held for sale are not depre-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:18.6266em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0423em;">ciated. Impairment losses arising on first classifi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:19.4597em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0403em;">cation as “held for sale” and gains and losses from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.2928em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0331em;">the subsequent measurement is recognized in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:21.126em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0368em;">income statement under the items they concern.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_170" style="word-spacing:0.445em;">3.9 Discontinued</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:11.612em;top:5.658em;"><span class="stl_527 stl_08 stl_176">operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0374em;">June 22, 2022 it was announced that NNIT was divesting the infrastructure operations and in December 2022  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.9305em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0349em;">and December 2023 it qualified for recognition as Discontinuing operations according to IFRS 5.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.4785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:9.4785em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:9.4785em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.5573em;"><span class="stl_264 stl_08 stl_164">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:11.5573em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2538em;top:11.5573em;"><span class="stl_274 stl_08 stl_300">504  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.5673em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:12.5673em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.265em;top:12.5673em;"><span class="stl_267 stl_08 stl_602">405  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.5773em;"><span class="stl_264 stl_08 stl_305" style="word-spacing:-0.0422em;">Gross profit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:13.5773em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6369em;top:13.5773em;"><span class="stl_274 stl_08 stl_851">99  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.1823em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0412em;">Sales and marketing costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:15.1823em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6894em;top:15.1823em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:16.1923em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0426em;">Administrative expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4532em;top:16.1923em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6369em;top:16.1923em;"><span class="stl_267 stl_08 stl_459">54  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:17.2023em;"><span class="stl_264 stl_08 stl_234" style="word-spacing:-0.0375em;">Operating profit before special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4532em;top:17.2023em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6407em;top:17.2023em;"><span class="stl_274 stl_08 stl_750">30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:18.8073em;"><span class="stl_267 stl_08 stl_120" style="word-spacing:-0.0354em;">Gain from discontinuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4532em;top:18.8073em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6682em;top:18.8073em;"><span class="stl_267 stl_08 stl_57">76  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:19.8173em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:19.8173em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3182em;top:19.8173em;"><span class="stl_267 stl_08 stl_360">102  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:20.8273em;"><span class="stl_264 stl_08 stl_247" style="word-spacing:-0.0381em;">Operating profit/(loss)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:20.8273em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0225em;top:20.8273em;"><span class="stl_274 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:22.4323em;"><span class="stl_267 stl_08 stl_266" style="word-spacing:-0.0356em;">Financial income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:22.4323em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1775em;top:22.4323em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:23.4423em;"><span class="stl_267 stl_08 stl_230" style="word-spacing:-0.0407em;">Financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:23.4423em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0219em;top:23.4423em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:24.4523em;"><span class="stl_264 stl_08 stl_320" style="word-spacing:-0.0383em;">Profit/(loss) before income taxes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:24.4523em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0225em;top:24.4523em;"><span class="stl_274 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:26.0573em;"><span class="stl_267 stl_08 stl_244" style="word-spacing:-0.037em;">Income taxes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:26.0573em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4456em;top:26.0573em;"><span class="stl_267 stl_08 stl_245">(22)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:27.0673em;"><span class="stl_264 stl_08 stl_249" style="word-spacing:-0.0343em;">Profit for the year of discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:27.0673em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.635em;top:27.0673em;"><span class="stl_274 stl_08 stl_405">24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.49em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:9.49em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:9.49em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.5343em;"><span class="stl_264 stl_08 stl_266" style="word-spacing:-0.0352em;">Earnings per share  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.4612em;"><span class="stl_267 stl_08 stl_268" style="word-spacing:-0.0443em;">Earnings per share (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:12.4612em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1283em;top:12.4612em;"><span class="stl_267 stl_08 stl_173">0.96  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.3881em;"><span class="stl_267 stl_08 stl_280" style="word-spacing:-0.0418em;">Diluted earnings per share (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:13.3881em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1283em;top:13.3881em;"><span class="stl_267 stl_08 stl_173">0.96  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:14.9337em;"><span class="stl_264 stl_08 stl_340" style="word-spacing:-0.0336em;">Cash Flows from discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.9437em;"><span class="stl_267 stl_08 stl_483" style="word-spacing:-0.0474em;">Cash flow from operating activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:15.9437em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4589em;top:15.9437em;"><span class="stl_267 stl_08 stl_255">(97)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.9537em;"><span class="stl_267 stl_08 stl_303" style="word-spacing:-0.0479em;">Cash flow from investing activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:16.9537em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2702em;top:16.9537em;"><span class="stl_267 stl_08 stl_577">904  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.9637em;"><span class="stl_267 stl_08 stl_239" style="word-spacing:-0.0486em;">Cash flow from financing activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:17.9637em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1927em;top:17.9637em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.9737em;"><span class="stl_264 stl_08 stl_226" style="word-spacing:-0.0359em;">Cash flow from discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:18.9737em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2777em;top:18.9737em;"><span class="stl_274 stl_08 stl_395">807  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_264 stl_08 stl_529" style="word-spacing:-0.0372em;">Divestment of infrastructure business  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.2843em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:8.2843em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:8.2843em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.9481em;"><span class="stl_264 stl_08 stl_249" style="word-spacing:-0.0341em;">Consideration received/receivable:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.9343em;"><span class="stl_267 stl_08 stl_236">Cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:10.9343em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7719em;top:10.9343em;"><span class="stl_267 stl_08 stl_171">1,001  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:11.9206em;"><span class="stl_267 stl_08 stl_233" style="word-spacing:-0.0327em;">Fair value of contingent consideration  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4532em;top:11.9206em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2713em;top:11.9206em;"><span class="stl_267 stl_08 stl_516">200  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:12.9068em;"><span class="stl_267 stl_08 stl_250" style="word-spacing:-0.0426em;">Net working capital/Net interest bearing debt adj. and other adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4532em;top:12.9068em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.0788em;top:12.9068em;"><span class="stl_267 stl_08 stl_233">(209)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:13.8931em;"><span class="stl_264 stl_08 stl_226" style="word-spacing:-0.0356em;">Sales price for discontinued operations incl. adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4532em;top:13.8931em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2669em;top:13.8931em;"><span class="stl_274 stl_08 stl_289">992  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:15.4706em;"><span class="stl_267 stl_08 stl_320" style="word-spacing:-0.0383em;">Transaction costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:15.4706em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6863em;top:15.4706em;"><span class="stl_267 stl_08 stl_45">51  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:16.4568em;"><span class="stl_264 stl_08 stl_231" style="word-spacing:-0.037em;">Sales price for discontinued operations, after transaction costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:16.4568em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2788em;top:16.4568em;"><span class="stl_274 stl_08 stl_523">941  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:17.9156em;"><span class="stl_267 stl_08 stl_528" style="word-spacing:-0.0461em;">Carrying amount of net assets sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:17.9156em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2944em;top:17.9156em;"><span class="stl_267 stl_08 stl_60">821  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:18.9018em;"><span class="stl_264 stl_08 stl_72" style="word-spacing:-0.0347em;">Gain on sale of discontinued operations before tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:18.9018em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2944em;top:18.9018em;"><span class="stl_274 stl_08 stl_208">120  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:19.8881em;"><span class="stl_267 stl_08 stl_340" style="word-spacing:-0.0339em;">Tax on divestment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:19.8881em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6269em;top:19.8881em;"><span class="stl_267 stl_08 stl_284">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:20.8743em;"><span class="stl_264 stl_08 stl_245" style="word-spacing:-0.0354em;">Gain on sale of discontinued operations after tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:20.8743em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6569em;top:20.8743em;"><span class="stl_274 stl_08 stl_165">76  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:22.3331em;"><span class="stl_267 stl_08 stl_532" style="word-spacing:-0.0411em;">Assets and liabilities in the business sold comprise of:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:23.3193em;"><span class="stl_267 stl_08 stl_494" style="word-spacing:-0.0445em;">Intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4544em;top:23.3193em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3188em;top:23.3193em;"><span class="stl_267 stl_08 stl_397">102  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:24.3056em;"><span class="stl_267 stl_08 stl_123" style="word-spacing:-0.0303em;">Tangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4544em;top:24.3056em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2888em;top:24.3056em;"><span class="stl_267 stl_08 stl_165">501  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:25.2918em;"><span class="stl_267 stl_08 stl_89" style="word-spacing:-0.0452em;">Lease assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4544em;top:25.2918em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6469em;top:25.2918em;"><span class="stl_267 stl_08 stl_506">38  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:26.2781em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0424em;">Deferred taxes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4544em;top:26.2781em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0225em;top:26.2781em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:27.2643em;"><span class="stl_267 stl_08 stl_509">Deposits  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4544em;top:27.2643em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0225em;top:27.2643em;"><span class="stl_267 stl_08 stl_19">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:28.2506em;"><span class="stl_267 stl_08 stl_183" style="word-spacing:-0.0273em;">Transition cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4544em;top:28.2506em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6444em;top:28.2506em;"><span class="stl_267 stl_08 stl_289">80  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:29.2368em;"><span class="stl_267 stl_08 stl_167" style="word-spacing:-0.0287em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4544em;top:29.2368em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6463em;top:29.2368em;"><span class="stl_267 stl_08 stl_734">96  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:30.2231em;"><span class="stl_267 stl_08 stl_266" style="word-spacing:-0.0354em;">Work in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4544em;top:30.2231em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6519em;top:30.2231em;"><span class="stl_267 stl_08 stl_268">28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7269em;top:31.2093em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0419em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.455em;top:31.2093em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0231em;top:31.2093em;"><span class="stl_267 stl_08 stl_19">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7269em;top:32.1956em;"><span class="stl_267 stl_08 stl_259">Prepayments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.455em;top:32.1956em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.37em;top:32.1956em;"><span class="stl_267 stl_08 stl_290">114  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7269em;top:33.1818em;"><span class="stl_267 stl_08 stl_236">Cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.455em;top:33.1818em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6669em;top:33.1818em;"><span class="stl_267 stl_08 stl_721">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7269em;top:34.1681em;"><span class="stl_264 stl_08 stl_167" style="word-spacing:-0.028em;">Total assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.455em;top:34.1681em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.26em;top:34.1681em;"><span class="stl_274 stl_08 stl_594">995  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:8.3417em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:8.3417em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:8.3417em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.9954em;"><span class="stl_267 stl_08 stl_253" style="word-spacing:-0.0388em;">Employee benefit obligations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:9.9954em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:9.9954em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.0054em;"><span class="stl_267 stl_08 stl_226" style="word-spacing:-0.0362em;">Lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:11.0054em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.652em;top:11.0054em;"><span class="stl_267 stl_08 stl_460">34  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.0154em;"><span class="stl_267 stl_08 stl_280" style="word-spacing:-0.0414em;">Prepayments received, transition cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:12.0154em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6514em;top:12.0154em;"><span class="stl_267 stl_08 stl_851">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.0017em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0411em;">Prepayments received, work in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:13.0017em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6995em;top:13.0017em;"><span class="stl_267 stl_08 stl_286">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.9879em;"><span class="stl_267 stl_08 stl_246" style="word-spacing:-0.0405em;">Employee costs payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:13.9879em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.667em;top:13.9879em;"><span class="stl_267 stl_08 stl_247">62  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:14.9742em;"><span class="stl_267 stl_08 stl_145" style="word-spacing:-0.0248em;">Tax payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:14.9742em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:14.9742em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.9604em;"><span class="stl_267 stl_08 stl_408" style="word-spacing:-0.0392em;">Other current liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:15.9604em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6995em;top:15.9604em;"><span class="stl_267 stl_08 stl_286">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.9467em;"><span class="stl_267 stl_08 stl_387">Provisions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:16.9467em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:16.9467em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.9329em;"><span class="stl_264 stl_08 stl_145" style="word-spacing:-0.0239em;">Total liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:17.9329em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3395em;top:17.9329em;"><span class="stl_274 stl_08 stl_663">174  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:19.9048em;"><span class="stl_264 stl_08 stl_695" style="word-spacing:-0.044em;">Net assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:19.9048em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2852em;top:19.9048em;"><span class="stl_274 stl_08 stl_465">821  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:21.4929em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0394em;">On 28 April 2023, NNIT completed the transformative divestment of the Group’s infrastructure operations to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:22.3261em;"><span class="stl_774 stl_08 stl_253" style="word-spacing:-0.039em;">funds advised by Agilitas Private Equity LLP as initially described in company announcement no. 9/2022 on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.1592em;"><span class="stl_774 stl_08 stl_183" style="word-spacing:-0.0275em;">June 22, 2022.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:24.8261em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">Financial information relating to the discontinued operation is set out in the table.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.1285em;"><span class="stl_264 stl_08 stl_270" style="word-spacing:-0.0446em;">Assets classified as held for sale  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.9616em;"><span class="stl_202 stl_08 stl_514" style="word-spacing:-0.0468em;">Assets classified as held for sale comprise assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.7947em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">and liabilities for which it is highly likely that the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.6278em;"><span class="stl_202 stl_08 stl_423" style="word-spacing:-0.0311em;">value will be recovered through a sale within 12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.461em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0408em;">months rather than through continued use. Assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.2941em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">and liabilities classified as held for sale are meas-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.1272em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0397em;">ured at the lower of the carrying amount and fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.9603em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">value less cost to sell at the classification date as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:17.7935em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">“held for sale”. Assets held for sale are not depre-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:18.6266em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0423em;">ciated. Impairment losses arising on first classifi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:19.4597em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0403em;">cation as “held for sale” and gains and losses from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.2928em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0331em;">the subsequent measurement is recognized in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:21.126em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0368em;">income statement under the items they concern.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:20.2891em;"><span class="stl_264 stl_08 stl_246" style="word-spacing:-0.0402em;">Employee benefits  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:21.1222em;"><span class="stl_202 stl_08 stl_431" style="word-spacing:-0.0405em;">Wages, salaries, social security contributions, paid  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:21.9553em;"><span class="stl_202 stl_08 stl_551" style="word-spacing:-0.0373em;">annual leave and sick leave, bonuses and non-mon-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:22.7885em;"><span class="stl_202 stl_08 stl_432" style="word-spacing:-0.0417em;">etary benefits are recognized in the financial year in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:23.6216em;"><span class="stl_202 stl_08 stl_81" style="word-spacing:-0.0376em;">which the NNIT employee provided the related work  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:24.4547em;"><span class="stl_202 stl_08 stl_364">service.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:26.1216em;"><span class="stl_610 stl_08 stl_340" style="word-spacing:-0.034em;">Contingent Consideration Agreement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:26.9547em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.0331em;">The contingent consideration for Excellis Health  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:27.7878em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.039em;">Solutions, SL Controls and Prime4Services is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:28.621em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.037em;">accrued over the period from the acquisition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:29.4541em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0415em;">date until the payment is based on expected  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:30.2872em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0394em;">achieved performance conditioned on employment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:31.1203em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0376em;">(projected unit credit method). The cost is recog-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:31.9535em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0335em;">nized as wages and salaries under special items in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:32.7866em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0402em;">the income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:34.4535em;"><span class="stl_610 stl_08 stl_423">Pensions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:35.2866em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0398em;">NNIT operates a number of defined-contribution  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:36.1197em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0373em;">pension plans. The costs of these pension plans are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0351em;">recognized in the financial year in which the relevant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">NNIT employees provided the related service.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.4716em;"><span class="stl_202 stl_08 stl_581" style="word-spacing:-0.0421em;">In some countries NNIT operates defined-benefit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3047em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0334em;">plans. Such liabilities are measured at the present  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1379em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0437em;">value of the expected payments related to benefits  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.971em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">accrued at the balance sheet date less the fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.8041em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0405em;">of plan assets by applying the projected unit credit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6372em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0352em;">method. Plan assets, if any, are measured at fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4703em;"><span class="stl_202 stl_08 stl_514" style="word-spacing:-0.0467em;">value and offset against the defined benefit obli-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.3035em;"><span class="stl_202 stl_08 stl_530" style="word-spacing:-0.0424em;">gation in the balance sheet. Service costs and the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1366em;"><span class="stl_202 stl_08 stl_424" style="word-spacing:-0.031em;">interest component are recognized in the income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.9697em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">statement. Actuarial gains and losses are recog-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8028em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.0331em;">nized in other comprehensive income in the period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.636em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0346em;">in which they occur. Settlements are immediately  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4691em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0356em;">recognized in the income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0351em;">Long-term incentive program  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.9691em;"><span class="stl_202 stl_08 stl_215" style="word-spacing:-0.0316em;">Group Management and the Vice President Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8022em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">are part of a long-term share-based incentive  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.6353em;"><span class="stl_202 stl_08 stl_143" style="word-spacing:-0.025em;">program (LTIP).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.3022em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.036em;">Under the program, NNIT allocates shares based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.1353em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0406em;">operating profit and free cash flow.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.8022em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0397em;">The participants receive NNIT shares. The shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.6353em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">are subject to a lock-up period of four years.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3022em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">NNIT has the obligation to deliver treasury shares,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.1353em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.036em;">and accordingly, the arrangement is classified as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.9685em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0412em;">an equitysettled arrangement and will be charged  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8016em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0338em;">to the income statement over the four-year vesting  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.6347em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">period based on the market price at the grant date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:6.9678em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">Due to legal restrictions in some jurisdictions and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.801em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">contractual agreements a small part of the LTIP  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:8.6341em;"><span class="stl_202 stl_08 stl_494" style="word-spacing:-0.0442em;">program is setteled in cash. For the part settled in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.4672em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">cash the cost will be charged to the income state-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.3003em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">ment including impact from changes in the share-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.1335em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">price. The libility related to the cash settled part is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.9666em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0364em;">included in Other liabilities in the balance sheet.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_269" style="word-spacing:0.0238em;">2.2 Employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:6.9785em;"><span class="stl_264 stl_08 stl_214">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:6.9785em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6423em;"><span class="stl_264 stl_08 stl_266" style="word-spacing:-0.0355em;">Employee costs comprise:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.6523em;"><span class="stl_267 stl_08 stl_411" style="word-spacing:-0.0345em;">Wages and salaries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.0332em;top:9.6523em;"><span class="stl_267 stl_08 stl_163">1,090  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7482em;top:9.6523em;"><span class="stl_267 stl_08 stl_266">1,383  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.6623em;"><span class="stl_267 stl_08 stl_509" style="word-spacing:-0.0462em;">Share-based payments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:10.6623em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:10.6623em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.6723em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.038em;">Pensions – defined contribution plans  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9425em;top:11.6723em;"><span class="stl_267 stl_08 stl_57">76  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6613em;top:11.6723em;"><span class="stl_267 stl_08 stl_302">91  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.6823em;"><span class="stl_267 stl_08 stl_529" style="word-spacing:-0.037em;">Pensions – defined benefit obligations (note 3.7)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:12.6823em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:12.6823em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6923em;"><span class="stl_267 stl_08 stl_695" style="word-spacing:-0.0441em;">Other employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9225em;top:13.6923em;"><span class="stl_267 stl_08 stl_518">98  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3238em;top:13.6923em;"><span class="stl_267 stl_08 stl_841">132  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.7023em;"><span class="stl_264 stl_08 stl_27" style="word-spacing:-0.028em;">Total employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9825em;top:14.7023em;"><span class="stl_274 stl_08 stl_399">1,271  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7788em;top:14.7023em;"><span class="stl_274 stl_08 stl_109">1,611  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.3073em;"><span class="stl_267 stl_08 stl_203" style="word-spacing:-0.0365em;">Total employee costs, discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:16.3073em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2794em;top:16.3073em;"><span class="stl_267 stl_08 stl_581">347  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.3173em;"><span class="stl_264 stl_08 stl_179" style="word-spacing:-0.0304em;">Total employee costs, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9825em;top:17.3173em;"><span class="stl_274 stl_08 stl_399">1,271  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6888em;top:17.3173em;"><span class="stl_274 stl_08 stl_654">1,264  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.9223em;"><span class="stl_267 stl_08 stl_91" style="word-spacing:-0.0419em;">Capitalized under IT development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7244em;top:18.9223em;"><span class="stl_267 stl_08 stl_146">(40)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.8175em;top:18.9223em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9788em;top:19.9323em;"><span class="stl_274 stl_08 stl_473">1,231  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7294em;top:19.9323em;"><span class="stl_274 stl_08 stl_215">1,261  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.5373em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0351em;">Included in the income statement under the following headings:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.5473em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5657em;top:22.5473em;"><span class="stl_267 stl_08 stl_143">928  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2782em;top:22.5473em;"><span class="stl_267 stl_08 stl_268">977  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.5573em;"><span class="stl_267 stl_08 stl_230" style="word-spacing:-0.0408em;">Sales and marketing costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9182em;top:23.5573em;"><span class="stl_267 stl_08 stl_289">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6475em;top:23.5573em;"><span class="stl_267 stl_08 stl_351">56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.5673em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0426em;">Administrative expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5819em;top:24.5673em;"><span class="stl_267 stl_08 stl_84">188  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3063em;top:24.5673em;"><span class="stl_267 stl_08 stl_379">160  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.5773em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9388em;top:25.5773em;"><span class="stl_267 stl_08 stl_192">47  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6425em;top:25.5773em;"><span class="stl_267 stl_08 stl_289">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.5873em;"><span class="stl_264 stl_08 stl_27" style="word-spacing:-0.028em;">Total employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9788em;top:26.5873em;"><span class="stl_274 stl_08 stl_473">1,231  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7294em;top:26.5873em;"><span class="stl_274 stl_08 stl_215">1,261  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.1923em;"><span class="stl_267 stl_08 stl_228" style="word-spacing:-0.038em;">Average number of full-time employees, total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.06em;top:28.1923em;"><span class="stl_267 stl_08 stl_196">1,704  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8319em;top:28.1923em;"><span class="stl_267 stl_08 stl_295">1,974  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.2023em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0365em;">Average number of full-time employees, continuing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.06em;top:29.2023em;"><span class="stl_267 stl_08 stl_196">1,704  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7757em;top:29.2023em;"><span class="stl_267 stl_08 stl_296">1,773  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:6.9754em;"><span class="stl_264 stl_08 stl_387" style="word-spacing:-0.0336em;">Remuneration of Board of Directors and Group Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:7.8085em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.037em;">The current policy for the remuneration of the Board of Directors and Executive Management was adopted in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:8.6416em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0339em;">2024 and sets out the general guidelines for the remuneration of the Group’s management. The guidelines for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:9.4748em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.036em;">the remuneration of the Board of Directors and Executive Management are available on NNIT’s website.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:11.0167em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0364em;">In addition to the disclosures provided in this note, more details on the remuneration of Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:11.8498em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">and Directors are provided in the separate Remuneration report, which is not a part of the audited financial  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:12.6829em;"><span class="stl_202 stl_08 stl_581" style="word-spacing:-0.0419em;">statements. The report is also available on NNIT’s website.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:14.2248em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0345em;">Board of Directors remuneration  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.5272em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:15.5272em;"><span class="stl_264 stl_08 stl_214">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:15.5272em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.1322em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0422em;">Ordinary board member fee  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7795em;top:17.1322em;"><span class="stl_267 stl_08 stl_209">3.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4889em;top:17.1322em;"><span class="stl_267 stl_08 stl_231">3.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.1422em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0425em;">Audit Committee  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7514em;top:18.1422em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4758em;top:18.1422em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:19.1522em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0398em;">Remuneration Committee  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7533em;top:19.1522em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4777em;top:19.1522em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.1622em;"><span class="stl_264 stl_08 stl_227" style="word-spacing:-0.0321em;">Total fee to Board of Directors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7214em;top:20.1622em;"><span class="stl_274 stl_08 stl_398">4.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5102em;top:20.1622em;"><span class="stl_274 stl_08 stl_594">4</span><span class="stl_274 stl_08 stl_842">.</span><span class="stl_274 stl_08 stl_842">1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_264 stl_08 stl_203" style="word-spacing:-0.0367em;">Group Management's remuneration and share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.0159em;top:8.0481em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.894em;top:9.235em;"><span class="stl_263 stl_08 stl_239">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7709em;top:9.985em;"><span class="stl_263 stl_08 stl_276">members  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.0628em;top:10.735em;"><span class="stl_263 stl_08 stl_493">Executive  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.9915em;top:10.735em;"><span class="stl_263 stl_08 stl_340" style="word-spacing:-0.034em;">of Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7246em;top:11.485em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.9634em;top:11.485em;"><span class="stl_263 stl_08 stl_257" style="word-spacing:0.9176em;">Management Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9153em;top:11.485em;"><span class="stl_263 stl_08 stl_419">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.724em;top:13.1487em;"><span class="stl_267 stl_08 stl_607" style="word-spacing:-0.0539em;">Base salary  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0834em;top:13.1487em;"><span class="stl_267 stl_08 stl_843">7.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4671em;top:13.1487em;z-index:177;"><span class="stl_267 stl_08 stl_844">12.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1703em;top:13.1487em;"><span class="stl_267 stl_08 stl_729">19.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.724em;top:14.1587em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0412em;">Cash Bonus (STIP and employee benefit cost)</span><sup style="top: -0.2082em;"><span class="stl_281 stl_08 stl_401" style="word-spacing:-0.0706em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7278em;top:14.1587em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4522em;top:14.1587em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1766em;top:14.1587em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:15.1687em;"><span class="stl_267 stl_08 stl_428" style="word-spacing:-0.0473em;">One off bonus  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7278em;top:15.1687em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4522em;top:15.1687em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1766em;top:15.1687em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:16.1787em;"><span class="stl_267 stl_08 stl_228" style="word-spacing:-0.0386em;">Remuneration in connection with redundancy,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:17.0118em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0399em;">resignations and release from duty to work  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7278em;top:17.0118em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4522em;top:17.0118em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1766em;top:17.0118em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:18.0218em;"><span class="stl_267 stl_08 stl_165">Pension  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0197em;top:18.0218em;"><span class="stl_267 stl_08 stl_695">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7716em;top:18.0218em;"><span class="stl_267 stl_08 stl_21">1.5  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.5191em;top:18.0218em;"><span class="stl_267 stl_08 stl_797">1.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:19.0318em;"><span class="stl_267 stl_08 stl_522">Benefits  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0197em;top:19.0318em;"><span class="stl_267 stl_08 stl_695">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7635em;top:19.0318em;"><span class="stl_267 stl_08 stl_209">0.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4903em;top:19.0318em;"><span class="stl_267 stl_08 stl_419">1.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:20.0418em;"><span class="stl_267 stl_08 stl_259" style="word-spacing:-0.0436em;">Share-based incentives</span><sup style="top: -0.2094em;"><span class="stl_281 stl_08 stl_846" style="word-spacing:-0.0748em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0443em;top:20.0405em;"><span class="stl_267 stl_08 stl_85">0.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7374em;top:20.0405em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4887em;top:20.0405em;"><span class="stl_267 stl_08 stl_209">0.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:21.0505em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0328em;">Group Management total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0643em;top:21.0505em;"><span class="stl_274 stl_08 stl_845">9.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3818em;top:21.0505em;"><span class="stl_274 stl_08 stl_168">14.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.0555em;top:21.0505em;"><span class="stl_274 stl_08 stl_744">23.8  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.0176em;top:22.779em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8939em;top:23.9659em;"><span class="stl_263 stl_08 stl_239">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7708em;top:24.7159em;"><span class="stl_263 stl_08 stl_276">members  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.0626em;top:25.4659em;"><span class="stl_263 stl_08 stl_493">Executive  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.9914em;top:25.4659em;"><span class="stl_263 stl_08 stl_340" style="word-spacing:-0.034em;">of Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7245em;top:26.2159em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.9633em;top:26.2159em;"><span class="stl_263 stl_08 stl_257" style="word-spacing:0.9176em;">Management Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9151em;top:26.2159em;"><span class="stl_263 stl_08 stl_419">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7239em;top:27.8797em;"><span class="stl_267 stl_08 stl_607" style="word-spacing:-0.0539em;">Base salary  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0739em;top:27.8797em;z-index:503;"><span class="stl_267 stl_08 stl_272">7</span><span class="stl_267 stl_08 stl_521">.</span><span class="stl_267 stl_08 stl_521">4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4189em;top:27.8797em;"><span class="stl_267 stl_08 stl_694">13.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1514em;top:27.8797em;"><span class="stl_267 stl_08 stl_359">21.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7239em;top:28.8897em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0412em;">Cash Bonus (STIP and employee benefit cost)</span><sup style="top: -0.2082em;"><span class="stl_281 stl_08 stl_401" style="word-spacing:-0.0707em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0653em;top:28.8896em;z-index:553;"><span class="stl_267 stl_08 stl_713">4.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7897em;top:28.8896em;z-index:555;"><span class="stl_267 stl_08 stl_272">7</span><span class="stl_267 stl_08 stl_847">.</span><span class="stl_267 stl_08 stl_847">3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1835em;top:28.8896em;"><span class="stl_267 stl_08 stl_848">11.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:29.8996em;"><span class="stl_267 stl_08 stl_428" style="word-spacing:-0.0473em;">One off bonus  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0147em;top:29.8996em;"><span class="stl_267 stl_08 stl_349">3.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.746em;top:29.8996em;"><span class="stl_267 stl_08 stl_254">6.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4772em;top:29.8996em;"><span class="stl_267 stl_08 stl_275">9.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7234em;top:30.9096em;"><span class="stl_267 stl_08 stl_228" style="word-spacing:-0.0386em;">Remuneration in connection with redundancy,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7234em;top:31.7428em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0399em;">resignations and release from duty to work  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7272em;top:31.7428em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4678em;top:31.7428em;"><span class="stl_267 stl_08 stl_849">11.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1922em;top:31.7428em;"><span class="stl_267 stl_08 stl_849">11.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:32.7528em;"><span class="stl_267 stl_08 stl_165">Pension  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0197em;top:32.7528em;"><span class="stl_267 stl_08 stl_695">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7841em;top:32.7528em;"><span class="stl_267 stl_08 stl_682">1.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4747em;top:32.7528em;"><span class="stl_267 stl_08 stl_248">2.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:33.7628em;"><span class="stl_267 stl_08 stl_278">Benefits  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0197em;top:33.7628em;"><span class="stl_267 stl_08 stl_695">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.766em;top:33.7628em;"><span class="stl_267 stl_08 stl_419">1.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.5235em;top:33.7628em;"><span class="stl_267 stl_08 stl_770">1.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:34.7728em;"><span class="stl_267 stl_08 stl_259" style="word-spacing:-0.0436em;">Share-based incentives</span><sup style="top: -0.2094em;"><span class="stl_281 stl_08 stl_846" style="word-spacing:-0.0748em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.728em;top:34.7715em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7355em;top:34.7715em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4599em;top:34.7715em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:35.7815em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0328em;">Group Management total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.6643em;top:35.7815em;"><span class="stl_274 stl_08 stl_33">15.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4037em;top:35.7815em;"><span class="stl_274 stl_08 stl_273">41.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1237em;top:35.7815em;"><span class="stl_274 stl_08 stl_375">57.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:37.2763em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_351" style="word-spacing:-0.05em;">ꢀEmployee benefit cost (contingent consideration agreement) related to the acquisition of Excellis Health Solutions. Following a decision  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.1968em;top:37.8598em;"><span class="stl_350 stl_08 stl_349" style="word-spacing:-0.0528em;">by the Danish Business Authority concerning accounting treatment of Employee benefit cost (earn-out payment) related to acquisitions,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.1968em;top:38.4433em;"><span class="stl_350 stl_08 stl_473" style="word-spacing:-0.0536em;">these payments are to be considered and expensed as salary.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:39.0263em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">2</span></sup><span class="stl_347 stl_08 stl_92" style="word-spacing:-0.0499em;">ꢀIncludes the annually recognized expense on granted share based and launch incentive programmes, which are not released.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:7.0661em;"><span class="stl_264 stl_08 stl_188" style="word-spacing:-0.0372em;">Short-term incentive program (STIP)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:7.8992em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0404em;">Group Management and certain other employees participate in a STIP program, which entitles each participant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:8.7323em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">to receive an annual performance-based cash bonus, linked to the achievement of a number of predefined  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.5655em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0417em;">functional and individual business targets. Performance is measured for each financial year and the cash-based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.3986em;z-index:1540;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.0331em;">incentives, if any, are paid after announcement of the annual report for the subsequent year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.0655em;"><span class="stl_264 stl_08 stl_186" style="word-spacing:-0.0318em;">Long-term incentive program (LTIP)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.8986em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0343em;">LTIP is designed to promote the collective performance of Group Management and Vice Presidents to align the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.7317em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">interests of executives and shareholders.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.2736em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">The program is based on revenue and earnings, before interest and tax compared to the targeted levels.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.1067em;"><span class="stl_202 stl_08 stl_34" style="word-spacing:-0.0323em;">Shares are recognised over the four-year vesting period.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.6486em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0362em;">NNIT's Board of Directors approves the financial targets for the coming year, ensuring that the short-term  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.4817em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">targets are aligned with NNIT's long-term targets and strategy.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.0236em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0382em;">The allocation under LTIP for the CEO cannot exceed twelve months base salary, and the allocation for the CFO  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.8567em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0362em;">cannot exceed nine months base salary. The allocation for the other members of Group Management cannot  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:21.6898em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0373em;">exceed nine moths base salary.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.2317em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0352em;">The shares allocated to the members of Group Management that are fully vested, will be released to the indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:24.0648em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.038em;">vidual participants subsequent to the approval of the Annual Report 2024 by the Board of Directors.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:25.6067em;"><span class="stl_202 stl_08 stl_73" style="word-spacing:-0.0325em;">Based on the share price at the end of 2024, the value of the released shares is as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.6595em;top:27.0325em;"><span class="stl_263 stl_08 stl_266">Number  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.2764em;top:27.0325em;"><span class="stl_263 stl_08 stl_424">Market  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:27.7825em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.3933em;top:27.7825em;"><span class="stl_263 stl_08 stl_535" style="word-spacing:-0.0329em;">of shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7945em;top:27.7825em;"><span class="stl_263 stl_08 stl_120">value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:29.4462em;"><span class="stl_264 stl_08 stl_532" style="word-spacing:-0.0412em;">Values at December 31, 2024 of shares to be released February 20, 2025  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:30.4562em;"><span class="stl_267 stl_08 stl_387" style="word-spacing:-0.0343em;">Pär Fors</span><sup style="top: -0.2082em;"><span class="stl_281 stl_08 stl_476" style="word-spacing:-0.0588em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5462em;top:30.4562em;"><span class="stl_267 stl_08 stl_198">1,942  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4775em;top:30.4562em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:31.4662em;"><span class="stl_267 stl_08 stl_270" style="word-spacing:-0.0442em;">Carsten Ringius  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.94em;top:31.4662em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1919em;top:31.4662em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:32.4762em;"><span class="stl_264 stl_08 stl_249" style="word-spacing:-0.0345em;">Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4644em;top:32.4762em;"><span class="stl_274 stl_08 stl_299">1,942  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4544em;top:32.4762em;"><span class="stl_274 stl_08 stl_310">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:33.7862em;"><span class="stl_264 stl_08 stl_534" style="word-spacing:-0.0359em;">Other members of Group Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5031em;top:33.7862em;"><span class="stl_274 stl_08 stl_174">1,765  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4544em;top:33.7862em;"><span class="stl_274 stl_08 stl_310">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:35.0962em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0328em;">Group Management total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4762em;top:35.0962em;"><span class="stl_274 stl_08 stl_270">3,707  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4625em;top:35.0962em;"><span class="stl_274 stl_08 stl_710">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:36.5901em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_591" style="word-spacing:-0.0557em;">ꢀWill be settled in cash.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:38.1231em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0375em;">Please refer to note 5.1 for an overview of outstanding RSU’s.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:5.658em;"><span class="stl_527 stl_08 stl_117" style="word-spacing:0.1668em;">3.7 Employee</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:44.033em;top:5.658em;"><span class="stl_527 stl_08 stl_168" style="word-spacing:-0.0241em;">benefit obligations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:7.0974em;"><span class="stl_264 stl_08 stl_254" style="word-spacing:-0.0404em;">Defined benefit pension obligations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:8.6452em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.3833em;top:8.6452em;"><span class="stl_263 stl_08 stl_228" style="word-spacing:-0.0386em;">Pension liability  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.7445em;top:8.6452em;"><span class="stl_263 stl_08 stl_244" style="word-spacing:-0.0377em;">Plan asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:67.0383em;top:8.6452em;"><span class="stl_263 stl_08 stl_268" style="word-spacing:-0.0433em;">Net liability  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.2858em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.4983em;"><span class="stl_267 stl_08 stl_226" style="word-spacing:-0.0362em;">At the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.3677em;top:11.4983em;"><span class="stl_267 stl_08 stl_602">60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.0408em;top:11.4983em;"><span class="stl_267 stl_08 stl_351">56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0833em;top:11.4983em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.4608em;"><span class="stl_267 stl_08 stl_523" style="word-spacing:-0.0478em;">Current service costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.7452em;top:12.4608em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5708em;top:12.4608em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0839em;top:12.4608em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:13.4233em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0426em;">Interest cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.7458em;top:13.4233em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4152em;top:13.4233em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2408em;top:13.4233em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7414em;top:14.3858em;"><span class="stl_267 stl_08 stl_534" style="word-spacing:-0.0357em;">Employer contributions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.9027em;top:14.3858em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4158em;top:14.3858em;"><span class="stl_267 stl_08 stl_19">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.8458em;top:14.3858em;"><span class="stl_267 stl_08 stl_460">(7)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7414em;top:15.3483em;"><span class="stl_267 stl_08 stl_232" style="word-spacing:-0.0452em;">Benefits paid from plan asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.1689em;top:15.3483em;"><span class="stl_267 stl_08 stl_255">(23)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.8383em;top:15.3483em;"><span class="stl_267 stl_08 stl_255">(23)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2414em;top:15.3483em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.742em;top:16.3108em;"><span class="stl_267 stl_08 stl_531" style="word-spacing:-0.0338em;">Remeasurement gains/(losses) recognized in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.742em;top:17.1439em;"><span class="stl_267 stl_08 stl_226" style="word-spacing:-0.0357em;">other comprehensive income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.9033em;top:17.1439em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.262em;top:17.1439em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0858em;top:17.1439em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7427em;top:18.1064em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0411em;">Plan participant contribution etc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.7477em;top:18.1064em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.417em;top:18.1064em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0864em;top:18.1064em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7433em;top:19.0689em;"><span class="stl_267 stl_08 stl_403">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.7483em;top:19.0689em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4176em;top:19.0689em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.087em;top:19.0689em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7439em;top:20.0314em;"><span class="stl_264 stl_08 stl_186" style="word-spacing:-0.0316em;">At the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.382em;top:20.0314em;"><span class="stl_274 stl_08 stl_340">47  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.037em;top:20.0314em;"><span class="stl_274 stl_08 stl_594">42  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0883em;top:20.0314em;"><span class="stl_274 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:22.25em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.3358em;top:22.25em;"><span class="stl_263 stl_08 stl_228" style="word-spacing:-0.0386em;">Pension liability  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.697em;top:22.25em;"><span class="stl_263 stl_08 stl_244" style="word-spacing:-0.0377em;">Plan asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.9908em;top:22.25em;"><span class="stl_263 stl_08 stl_268" style="word-spacing:-0.0433em;">Net liability  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.8907em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:25.1032em;"><span class="stl_267 stl_08 stl_226" style="word-spacing:-0.0362em;">At the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.3639em;top:25.1032em;"><span class="stl_267 stl_08 stl_288">61  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.0089em;top:25.1032em;"><span class="stl_267 stl_08 stl_421">59  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:25.1032em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:26.0657em;"><span class="stl_267 stl_08 stl_523" style="word-spacing:-0.0483em;">Current service costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.6977em;top:26.0657em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5233em;top:26.0657em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:26.0657em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:27.0282em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0426em;">Interest cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.6977em;top:27.0282em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.367em;top:27.0282em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:27.0282em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:27.9907em;"><span class="stl_267 stl_08 stl_534" style="word-spacing:-0.0357em;">Employer contributions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.4995em;top:27.9907em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.367em;top:27.9907em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.797em;top:27.9907em;"><span class="stl_267 stl_08 stl_460">(7)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:28.9532em;"><span class="stl_267 stl_08 stl_232" style="word-spacing:-0.0452em;">Benefits paid from plan asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.1901em;top:28.9532em;"><span class="stl_267 stl_08 stl_716">(13)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.8595em;top:28.9532em;"><span class="stl_267 stl_08 stl_716">(13)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1926em;top:28.9532em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:29.9157em;"><span class="stl_267 stl_08 stl_531" style="word-spacing:-0.0338em;">Remeasurement gains/(losses) recognized in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:30.7488em;"><span class="stl_267 stl_08 stl_226" style="word-spacing:-0.0357em;">other comprehensive income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.6976em;top:30.7488em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.2126em;top:30.7488em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:30.7488em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:31.7113em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0411em;">Plan participant contribution etc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.6976em;top:31.7113em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.367em;top:31.7113em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1926em;top:31.7113em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:32.6738em;"><span class="stl_267 stl_08 stl_256" style="word-spacing:-0.0402em;">Exchange rate adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.6976em;top:32.6738em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.367em;top:32.6738em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:32.6738em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:33.6363em;"><span class="stl_264 stl_08 stl_186" style="word-spacing:-0.0316em;">At the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.3145em;top:33.6363em;"><span class="stl_274 stl_08 stl_460">60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.9864em;top:33.6363em;"><span class="stl_274 stl_08 stl_707">56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:33.6363em;"><span class="stl_274 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:35.2244em;"><span class="stl_202 stl_08 stl_124" style="word-spacing:-0.0398em;">The defined benefit plans in the Group relates to NNIT Switzerland AG and NNIT Digital &amp; Life Sciences Phillip-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:36.0575em;"><span class="stl_202 stl_08 stl_60" style="word-spacing:-0.0391em;">ines Inc.. No other entities have individual significant net pension obligations or assets. The composition of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:36.8907em;"><span class="stl_202 stl_08 stl_182" style="word-spacing:-0.0404em;">pension plan assets are mainly shares quoted in active markets. The defined benefit plans are usually funded by  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:37.7238em;"><span class="stl_202 stl_08 stl_207" style="word-spacing:-0.0353em;">payments from Group companies and by employees to funds independent of NNIT. The weighted average dura-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:38.5569em;"><span class="stl_202 stl_08 stl_133" style="word-spacing:-0.0345em;">tion of the defined benefit obligation is 12.0 years (2022: </span><span class="stl_202 stl_08 stl_213">1</span><span class="stl_202 stl_08 stl_361" style="word-spacing:-0.0038em;">1.7 years).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:6.9716em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:6.9716em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6353em;"><span class="stl_264 stl_08 stl_534" style="word-spacing:-0.036em;">Assumptions used for valuation</span><sup style="top: -0.2079em;"><span class="stl_281 stl_08 stl_654" style="word-spacing:-0.0617em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.6453em;"><span class="stl_267 stl_08 stl_531" style="word-spacing:-0.0334em;">Discount rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8857em;top:9.6453em;"><span class="stl_267 stl_08 stl_99">1.26%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6419em;top:9.6453em;"><span class="stl_267 stl_08 stl_361">1.75%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.6553em;"><span class="stl_267 stl_08 stl_240" style="word-spacing:-0.042em;">Price inflation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9644em;top:10.6553em;"><span class="stl_267 stl_08 stl_410">1.19%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6025em;top:10.6553em;"><span class="stl_267 stl_08 stl_312">1.25%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:11.6653em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.0383em;">Projected future remuneration increases  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9263em;top:11.6653em;"><span class="stl_267 stl_08 stl_671">1.81%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6444em;top:11.6653em;"><span class="stl_267 stl_08 stl_361">1.75%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:12.6753em;"><span class="stl_267 stl_08 stl_320" style="word-spacing:-0.0385em;">Interest crediting rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8788em;top:12.6753em;"><span class="stl_267 stl_08 stl_312">0.95%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6444em;top:12.6753em;"><span class="stl_267 stl_08 stl_361">1.75%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.1695em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_473" style="word-spacing:-0.0536em;">ꢀAssumptions are calculated and presented based on weighted average of the Defined Benefit Plans in NNIT Switzerland AG and NNIT  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.1968em;top:14.753em;"><span class="stl_350 stl_08 stl_349" style="word-spacing:-0.0528em;">Digital &amp; Life Sciences Philippines Inc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1612em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0383em;">Actuarial valuations are performed annually.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.4177em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:18.4177em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:18.4177em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.1827em;"><span class="stl_267 stl_08 stl_581" style="word-spacing:-0.0417em;">Defined benefit pension obligations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:20.1827em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:20.1827em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.1927em;"><span class="stl_267 stl_08 stl_237" style="word-spacing:-0.0363em;">Employee benefit obligations (contingent consideration agreement)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9644em;top:21.1927em;"><span class="stl_267 stl_08 stl_816">19  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6625em;top:21.1927em;"><span class="stl_267 stl_08 stl_421">59  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.2027em;"><span class="stl_264 stl_08 stl_227" style="word-spacing:-0.0315em;">Total employee benefit obligations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9094em;top:22.2027em;"><span class="stl_274 stl_08 stl_405">24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6394em;top:22.2027em;"><span class="stl_274 stl_08 stl_577">63  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:23.2127em;"><span class="stl_267 stl_08 stl_253" style="word-spacing:-0.0387em;">Total employee benefit obligations, non-current discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4532em;top:23.2127em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1775em;top:23.2127em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:24.2227em;"><span class="stl_264 stl_08 stl_34" style="word-spacing:-0.0317em;">Total employee benefit obligations, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.91em;top:24.2227em;"><span class="stl_274 stl_08 stl_405">24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.64em;top:24.2227em;"><span class="stl_274 stl_08 stl_577">63  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:26.6677em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0359em;">Employee benefit obligation is recognized in the balance sheet as followed:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.2138em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:28.2138em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:28.2138em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.8775em;"><span class="stl_267 stl_08 stl_340" style="word-spacing:-0.0342em;">Non-current liabilities (1-5 years)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:29.8775em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:29.8775em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.8875em;"><span class="stl_267 stl_08 stl_120" style="word-spacing:-0.0349em;">Current liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9644em;top:30.8875em;"><span class="stl_267 stl_08 stl_816">19  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6582em;top:30.8875em;"><span class="stl_267 stl_08 stl_454">57  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.8975em;"><span class="stl_264 stl_08 stl_186" style="word-spacing:-0.0312em;">Total employee benefit obligation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9094em;top:31.8975em;"><span class="stl_274 stl_08 stl_405">24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6394em;top:31.8975em;"><span class="stl_274 stl_08 stl_577">63  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3825em;"><span class="stl_527 stl_08 stl_29" style="word-spacing:0.2348em;">5.1 Long-term</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:10.310em;top:10.3825em;"><span class="stl_527 stl_08 stl_144">incentives  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.8218em;"><span class="stl_264 stl_08 stl_408" style="word-spacing:-0.0393em;">Long-term share-based incentive program  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.655em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0357em;">Group Management and the Vice Presidents are included in a long-term share-based incentive program.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.4881em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0344em;">For more information regarding the long-term share-based incentive program, please refer to note 2.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.3212em;"><span class="stl_202 stl_08 stl_309" style="word-spacing:-0.0433em;">'Employee costs'  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.9881em;"><span class="stl_264 stl_08 stl_231" style="word-spacing:-0.0368em;">Share-based payments are recognized at the following amounts:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.5363em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:17.5363em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:17.5363em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.2em;"><span class="stl_267 stl_08 stl_249" style="word-spacing:-0.0345em;">Long-term incentive program (LTIP) in NNIT shares - share based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:19.2em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:19.2em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.21em;"><span class="stl_264 stl_08 stl_531" style="word-spacing:-0.034em;">Incentive program charged to income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2969em;top:20.21em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0213em;top:20.21em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.815em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.0348em;">Recognized in the income statement:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.825em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:22.825em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:22.825em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.835em;"><span class="stl_267 stl_08 stl_200">Administration  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:23.835em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:23.835em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.845em;"><span class="stl_264 stl_08 stl_157">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2969em;top:24.845em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0213em;top:24.845em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.4563em;"><span class="stl_202 stl_08 stl_186" style="word-spacing:-0.0317em;">Shares are recognized over the four-year vesting period at the market value at the grant date. Value adjust-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.2894em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">ments are recognized as financial items.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.8377em;"><span class="stl_264 stl_08 stl_247" style="word-spacing:-0.0375em;">Outstanding restricted stock units (in NNIT shares):  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.3855em;"><span class="stl_263 stl_08 stl_299" style="word-spacing:-0.0531em;">Number '000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:13.3855em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:13.3855em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.0493em;"><span class="stl_267 stl_08 stl_532" style="word-spacing:-0.0412em;">Outstanding at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5702em;top:15.0493em;"><span class="stl_267 stl_08 stl_305">209  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3558em;top:15.0493em;"><span class="stl_267 stl_08 stl_828">141  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.0593em;"><span class="stl_267 stl_08 stl_257" style="word-spacing:-0.0329em;">Long-term incentive program (LTIP)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:16.0593em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3352em;top:16.0593em;"><span class="stl_267 stl_08 stl_466">125  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.0693em;"><span class="stl_267 stl_08 stl_67" style="word-spacing:-0.0293em;">Transfer to employees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7308em;top:17.0693em;"><span class="stl_267 stl_08 stl_230">(25)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4995em;top:17.0693em;"><span class="stl_267 stl_08 stl_376">(31)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.0793em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0399em;">Committed to employees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:18.0793em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.847em;top:18.0793em;"><span class="stl_267 stl_08 stl_331">(9)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:19.0893em;"><span class="stl_267 stl_08 stl_309" style="word-spacing:-0.0433em;">Forfeiture during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7308em;top:19.0893em;"><span class="stl_267 stl_08 stl_230">(78)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5033em;top:19.0893em;"><span class="stl_267 stl_08 stl_680">(17)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.0993em;"><span class="stl_264 stl_08 stl_226" style="word-spacing:-0.0362em;">Outstanding at the end of the year (in NNIT shares)</span><sup style="top: -0.2093em;"><span class="stl_281 stl_08 stl_763" style="word-spacing:-0.0621em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5667em;top:20.0981em;"><span class="stl_274 stl_08 stl_204">106  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2729em;top:20.0981em;"><span class="stl_274 stl_08 stl_594">209  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7404em;top:21.7031em;"><span class="stl_267 stl_08 stl_245" style="word-spacing:-0.0353em;">Fair value of the RSU's end of period (DKK million)</span><sup style="top: -0.2082em;"><span class="stl_281 stl_08 stl_653" style="word-spacing:-0.0605em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9532em;top:21.703em;"><span class="stl_274 stl_08 stl_462">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6801em;top:21.703em;"><span class="stl_274 stl_08 stl_192">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.1981em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_523" style="word-spacing:-0.048em;">ꢀThe share price as of December 31, 2024 has been used when calculating the fair value of the RSU’s.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.7814em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">2</span></sup><span class="stl_347 stl_08 stl_268" style="word-spacing:-0.0441em;">ꢀKey management has been in total granted 20,487 shares with a fair value of DKK 1.9 million as of December 31, 2024.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:20.2891em;"><span class="stl_264 stl_08 stl_246" style="word-spacing:-0.0402em;">Employee benefits  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:21.1222em;"><span class="stl_202 stl_08 stl_431" style="word-spacing:-0.0405em;">Wages, salaries, social security contributions, paid  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:21.9553em;"><span class="stl_202 stl_08 stl_551" style="word-spacing:-0.0373em;">annual leave and sick leave, bonuses and non-mon-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:22.7885em;"><span class="stl_202 stl_08 stl_432" style="word-spacing:-0.0417em;">etary benefits are recognized in the financial year in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:23.6216em;"><span class="stl_202 stl_08 stl_81" style="word-spacing:-0.0376em;">which the NNIT employee provided the related work  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:24.4547em;"><span class="stl_202 stl_08 stl_364">service.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:26.1216em;"><span class="stl_610 stl_08 stl_340" style="word-spacing:-0.034em;">Contingent Consideration Agreement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:26.9547em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.0331em;">The contingent consideration for Excellis Health  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:27.7878em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.039em;">Solutions, SL Controls and Prime4Services is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:28.621em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.037em;">accrued over the period from the acquisition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:29.4541em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0415em;">date until the payment is based on expected  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:30.2872em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0394em;">achieved performance conditioned on employment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:31.1203em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0376em;">(projected unit credit method). The cost is recog-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:31.9535em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0335em;">nized as wages and salaries under special items in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:32.7866em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0402em;">the income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:34.4535em;"><span class="stl_610 stl_08 stl_423">Pensions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:35.2866em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0398em;">NNIT operates a number of defined-contribution  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:36.1197em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0373em;">pension plans. The costs of these pension plans are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0351em;">recognized in the financial year in which the relevant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">NNIT employees provided the related service.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.4716em;"><span class="stl_202 stl_08 stl_581" style="word-spacing:-0.0421em;">In some countries NNIT operates defined-benefit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3047em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0334em;">plans. Such liabilities are measured at the present  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1379em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0437em;">value of the expected payments related to benefits  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.971em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">accrued at the balance sheet date less the fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.8041em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0405em;">of plan assets by applying the projected unit credit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6372em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0352em;">method. Plan assets, if any, are measured at fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4703em;"><span class="stl_202 stl_08 stl_514" style="word-spacing:-0.0467em;">value and offset against the defined benefit obli-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.3035em;"><span class="stl_202 stl_08 stl_530" style="word-spacing:-0.0424em;">gation in the balance sheet. Service costs and the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1366em;"><span class="stl_202 stl_08 stl_424" style="word-spacing:-0.031em;">interest component are recognized in the income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.9697em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">statement. Actuarial gains and losses are recog-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8028em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.0331em;">nized in other comprehensive income in the period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.636em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0346em;">in which they occur. Settlements are immediately  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4691em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0356em;">recognized in the income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0351em;">Long-term incentive program  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.9691em;"><span class="stl_202 stl_08 stl_215" style="word-spacing:-0.0316em;">Group Management and the Vice President Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8022em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">are part of a long-term share-based incentive  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.6353em;"><span class="stl_202 stl_08 stl_143" style="word-spacing:-0.025em;">program (LTIP).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.3022em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.036em;">Under the program, NNIT allocates shares based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.1353em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0406em;">operating profit and free cash flow.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.8022em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0397em;">The participants receive NNIT shares. The shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.6353em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">are subject to a lock-up period of four years.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3022em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">NNIT has the obligation to deliver treasury shares,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.1353em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.036em;">and accordingly, the arrangement is classified as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.9685em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0412em;">an equitysettled arrangement and will be charged  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8016em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0338em;">to the income statement over the four-year vesting  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.6347em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">period based on the market price at the grant date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:6.9678em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">Due to legal restrictions in some jurisdictions and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.801em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">contractual agreements a small part of the LTIP  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:8.6341em;"><span class="stl_202 stl_08 stl_494" style="word-spacing:-0.0442em;">program is setteled in cash. For the part settled in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.4672em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">cash the cost will be charged to the income state-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.3003em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">ment including impact from changes in the share-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.1335em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">price. The libility related to the cash settled part is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.9666em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0364em;">included in Other liabilities in the balance sheet.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:22.7928em;"><span class="stl_264 stl_08 stl_91">Equity  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:23.626em;"><span class="stl_610 stl_08 stl_180" style="word-spacing:-0.0256em;">Treasury shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:24.4591em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">Treasury shares are deducted from equity. Acqui-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:25.2922em;"><span class="stl_774 stl_08 stl_535" style="word-spacing:-0.0328em;">sition/disposal of treasury shares are recognized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:26.1253em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.0431em;">directly in equity.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:22.7928em;"><span class="stl_264 stl_08 stl_91">Equity  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:23.626em;"><span class="stl_610 stl_08 stl_180" style="word-spacing:-0.0256em;">Treasury shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:24.4591em;"><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">Treasury shares are deducted from equity. Acqui-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:25.2922em;"><span class="stl_774 stl_08 stl_535" style="word-spacing:-0.0328em;">sition/disposal of treasury shares are recognized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:26.1253em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.0431em;">directly in equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.895em;top:6.9716em;"><span class="stl_263 stl_08 stl_411">Number  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.6638em;top:7.7216em;"><span class="stl_263 stl_08 stl_73" style="word-spacing:1.0624em;">Nominal Market</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.604em;top:7.7216em;"><span class="stl_263 stl_08 stl_120">value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.4907em;top:7.7216em;"><span class="stl_263 stl_08 stl_654" style="word-spacing:-0.0631em;">As % of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.6294em;top:7.7216em;"><span class="stl_263 stl_08 stl_34" style="word-spacing:-0.0322em;">of shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.4716em;"><span class="stl_263 stl_08 stl_412">DKK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.6063em;top:8.4716em;"><span class="stl_263 stl_08 stl_120">value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.5413em;top:8.4716em;"><span class="stl_263 stl_08 stl_114" style="word-spacing:1.1271em;">(million) share</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.644em;top:8.4716em;"><span class="stl_263 stl_08 stl_524">capital  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.1138em;top:8.4716em;"><span class="stl_263 stl_08 stl_229">(thousand)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:10.1354em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:11.3953em;"><span class="stl_264 stl_08 stl_424" style="word-spacing:-0.0308em;">Treasury shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:12.4053em;"><span class="stl_267 stl_08 stl_201" style="word-spacing:-0.0359em;">Holding at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.8469em;top:12.4053em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.255em;top:12.4053em;"><span class="stl_267 stl_08 stl_810">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2232em;top:12.4053em;"><span class="stl_267 stl_08 stl_201">0.5%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3338em;top:12.4053em;"><span class="stl_267 stl_08 stl_24">131  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.4153em;"><span class="stl_267 stl_08 stl_408">Disposal  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.0038em;top:13.4153em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.3682em;top:13.4153em;"><span class="stl_267 stl_08 stl_462">-3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.0763em;top:13.4153em;"><span class="stl_267 stl_08 stl_261">-0,1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4507em;top:13.4153em;"><span class="stl_267 stl_08 stl_149">-25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:14.4253em;"><span class="stl_267 stl_08 stl_253" style="word-spacing:-0.0393em;">Value adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.0044em;top:14.4253em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.5725em;top:14.4253em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:15.4353em;"><span class="stl_264 stl_08 stl_386" style="word-spacing:-0.0326em;">Holding at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.8488em;top:15.4353em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.2138em;top:15.4353em;"><span class="stl_274 stl_08 stl_462">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2763em;top:15.4353em;"><span class="stl_274 stl_08 stl_204">106  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:17.0466em;"><span class="stl_202 stl_08 stl_386" style="word-spacing:-0.0327em;">Treasury shares held relates to the long-term incentive program. Retained earnings are accumulated earnings.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:18.7135em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0345em;">Exchange rate adjustments are the difference between average exchange rates in the year and exchange rates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:19.5466em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0336em;">at the balance sheet date when consolidating subsidiaries.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4691em;"><span class="stl_264 stl_08 stl_169" style="word-spacing:-0.0231em;">Transition cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.3022em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">Transition cost consists of cost regarding transition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.1353em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0404em;">projects, which has been capitalized until operation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.9685em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.037em;">begins. The cost mainly relates to employee cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.8016em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0392em;">and will be amortized over the operation period.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:27.7922em;"><span class="stl_610 stl_08 stl_478">Dividend  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:28.6253em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">Dividend distribution to the shareholders of NNIT  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:29.4585em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0363em;">is recognized as a liability when dividends are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:30.2916em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0369em;">declared. Proposed dividends are disclosed in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:31.1247em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0362em;">statement of changes in equity.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:27.7922em;"><span class="stl_610 stl_08 stl_478">Dividend  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:28.6253em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.0388em;">Dividend distribution to the shareholders of NNIT  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:29.4585em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0363em;">is recognized as a liability when dividends are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:30.2916em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0369em;">declared. Proposed dividends are disclosed in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:31.1247em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0362em;">statement of changes in equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:21.2135em;z-index:1006;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0358em;">Proposed dividends are the dividends proposed by the Board of Directors for the financial year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.5934em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:23.5934em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:23.5934em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.2571em;"><span class="stl_267 stl_08 stl_254" style="word-spacing:-0.0408em;">Net cash distribution to shareholders  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:25.2571em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:25.2571em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.2671em;"><span class="stl_267 stl_08 stl_305" style="word-spacing:-0.0429em;">Ordinary dividends Interim dividends  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:26.2671em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:26.2671em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.2771em;"><span class="stl_264 stl_08 stl_157">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:27.2771em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:27.2771em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.8884em;"><span class="stl_202 stl_08 stl_269" style="word-spacing:-0.0319em;">No interim dividend was declared in 2024 and no dividend will be declared at the end of 2024.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.4685em;"><span class="stl_264 stl_08 stl_211">Inventories  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3016em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0346em;">Goods for resale are measured at the lower of cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.1347em;"><span class="stl_202 stl_08 stl_340" style="word-spacing:-0.0338em;">and net realizable value.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8016em;"><span class="stl_264 stl_08 stl_181" style="word-spacing:-0.0272em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.6347em;"><span class="stl_202 stl_08 stl_211" style="word-spacing:-0.0323em;">Trade receivables are initially recognized at fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.4678em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0383em;">and subsequently measured at amortized cost using  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:35.301em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0418em;">the effective interest method, less allowance for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.1341em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0407em;">doubtful trade receivables.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:6.9672em;"><span class="stl_202 stl_08 stl_149" style="word-spacing:-0.0381em;">Allowance for doubtful trade receivables is made  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.8003em;"><span class="stl_202 stl_08 stl_176" style="word-spacing:-0.0394em;">using the expected credit loss model, which uses a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:8.6335em;"><span class="stl_202 stl_08 stl_390" style="word-spacing:-0.0389em;">lifetime expected loss allowance for all trade receiv-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.4666em;"><span class="stl_202 stl_08 stl_176">ables.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.1335em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0426em;">The allowance is deducted from the carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.9666em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0366em;">amount of trade receivables and the amount of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.7997em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0343em;">loss is recognized in the income statement under  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:13.6328em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0363em;">cost of goods sold.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.9635em;"><span class="stl_264 stl_08 stl_188" style="word-spacing:-0.0367em;">Other receivables and prepayments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.7966em;"><span class="stl_610 stl_08 stl_369" style="word-spacing:-0.0336em;">Current receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:33.6297em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0348em;">Current receivables are measured at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:34.4628em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">less potential write-downs for impairment losses.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.296em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">Write-downs are based on individual assessments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:36.1291em;z-index:2308;"><span class="stl_202 stl_08 stl_127" style="word-spacing:-0.0164em;">of each debtor.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:6.9622em;"><span class="stl_610 stl_08 stl_280">Prepayments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:7.7953em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0412em;">Prepayments comprise costs incurred for the next  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:8.6285em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0344em;">financial year. These are usually prepayments for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:9.4616em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0363em;">maintenance of hardware and software licenses.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8016em;"><span class="stl_264 stl_08 stl_181" style="word-spacing:-0.0272em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.6347em;"><span class="stl_202 stl_08 stl_211" style="word-spacing:-0.0323em;">Trade receivables are initially recognized at fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.4678em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0383em;">and subsequently measured at amortized cost using  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:35.301em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0418em;">the effective interest method, less allowance for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.1341em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0407em;">doubtful trade receivables.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:6.9672em;"><span class="stl_202 stl_08 stl_149" style="word-spacing:-0.0381em;">Allowance for doubtful trade receivables is made  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.8003em;"><span class="stl_202 stl_08 stl_176" style="word-spacing:-0.0394em;">using the expected credit loss model, which uses a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:8.6335em;"><span class="stl_202 stl_08 stl_390" style="word-spacing:-0.0389em;">lifetime expected loss allowance for all trade receiv-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.4666em;"><span class="stl_202 stl_08 stl_176">ables.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.1335em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0426em;">The allowance is deducted from the carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.9666em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0366em;">amount of trade receivables and the amount of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.7997em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0343em;">loss is recognized in the income statement under  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:13.6328em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0363em;">cost of goods sold.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.9635em;"><span class="stl_264 stl_08 stl_188" style="word-spacing:-0.0367em;">Other receivables and prepayments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.7966em;"><span class="stl_610 stl_08 stl_369" style="word-spacing:-0.0336em;">Current receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:33.6297em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0348em;">Current receivables are measured at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:34.4628em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0402em;">less potential write-downs for impairment losses.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:35.296em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">Write-downs are based on individual assessments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:36.1291em;z-index:2308;"><span class="stl_202 stl_08 stl_127" style="word-spacing:-0.0164em;">of each debtor.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:6.9622em;"><span class="stl_610 stl_08 stl_280">Prepayments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:7.7953em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0412em;">Prepayments comprise costs incurred for the next  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:8.6285em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0344em;">financial year. These are usually prepayments for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:9.4616em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0363em;">maintenance of hardware and software licenses.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.965em;"><span class="stl_527 stl_08 stl_468" style="word-spacing:0.1571em;">3.6 Trade</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.473em;top:15.965em;"><span class="stl_527 stl_08 stl_208">receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.2855em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:17.2855em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:17.2855em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.9492em;"><span class="stl_267 stl_08 stl_340" style="word-spacing:-0.0342em;">Total trade receivables (gross)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.6008em;top:18.9492em;"><span class="stl_267 stl_08 stl_184">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2783em;top:18.9492em;"><span class="stl_267 stl_08 stl_307">482  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:19.9592em;"><span class="stl_267 stl_08 stl_203" style="word-spacing:-0.0371em;">Allowances for bad debt in the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4677em;top:19.9592em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0358em;top:19.9592em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:20.9692em;"><span class="stl_264 stl_08 stl_11" style="word-spacing:-0.0261em;">Total trade receivables (net)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5789em;top:20.9692em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3033em;top:20.9692em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:22.9886em;"><span class="stl_267 stl_08 stl_249" style="word-spacing:-0.0343em;">Total trade receivables (net), discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4677em;top:22.9886em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.192em;top:22.9886em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:23.9986em;"><span class="stl_264 stl_08 stl_66" style="word-spacing:-0.0291em;">Total trade receivables (net), continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5789em;top:23.9986em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3033em;top:23.9986em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:25.6036em;"><span class="stl_264 stl_08 stl_34" style="word-spacing:-0.0324em;">Trade receivables is recognized in the balance sheet as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:26.6136em;"><span class="stl_267 stl_08 stl_529" style="word-spacing:-0.0374em;">Trade receivables, non-current  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3114em;top:26.6136em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6627em;top:26.6136em;"><span class="stl_267 stl_08 stl_351">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:27.6236em;"><span class="stl_267 stl_08 stl_492" style="word-spacing:-0.0333em;">Trade receivables, current  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5914em;top:27.6236em;"><span class="stl_267 stl_08 stl_462">470  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3314em;top:27.6236em;"><span class="stl_267 stl_08 stl_684">451  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:28.6336em;"><span class="stl_264 stl_08 stl_68" style="word-spacing:-0.0287em;">Total trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5795em;top:28.6336em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3039em;top:28.6336em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:30.2449em;"><span class="stl_202 stl_08 stl_12" style="word-spacing:-0.0403em;">NNIT applies the IFRS 9 simplified approach to measure expected credit losses, which uses a lifetime expected  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:31.078em;"><span class="stl_202 stl_08 stl_59" style="word-spacing:-0.0388em;">loss allowance for all trade receivables. NNIT has assessed historical realized losses adjusted by a forward-looking  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:31.9111em;"><span class="stl_202 stl_08 stl_147" style="word-spacing:-0.0377em;">estimate related to the probability of a significant change in the economic environment. Historically NNIT has not  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:32.7442em;"><span class="stl_202 stl_08 stl_312" style="word-spacing:-0.0369em;">realized any losses on trade receivables due to the economic environment. Losses have been due to claim settle-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:33.5774em;"><span class="stl_202 stl_08 stl_37" style="word-spacing:-0.0433em;">ment with customers.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:35.2442em;"><span class="stl_202 stl_08 stl_144" style="word-spacing:-0.0408em;">Further NNIT continuously conduct individual assessments of bad debts. If this leads to an assessment that NNIT  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:36.0774em;"><span class="stl_774 stl_08 stl_31" style="word-spacing:-0.0411em;">will not be able to collect all outstanding payments, an allowance for bad debt is made. NNIT A/S has based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:36.9105em;"><span class="stl_202 stl_08 stl_372" style="word-spacing:-0.0342em;">an individual assessment recognised expected credit loss of DKK 0 million as of 31 December 2024 (2023: DKK 6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:37.7436em;"><span class="stl_202 stl_08 stl_155">million).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:6.9716em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:6.9716em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6353em;"><span class="stl_264 stl_08 stl_243" style="word-spacing:-0.0396em;">Aging of non-impaired trade receivables:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.6453em;"><span class="stl_267 stl_08 stl_321" style="word-spacing:-0.0391em;">Non-invoiced trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9257em;top:9.6453em;"><span class="stl_267 stl_08 stl_581">85  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6432em;top:9.6453em;"><span class="stl_267 stl_08 stl_602">60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.6553em;"><span class="stl_267 stl_08 stl_72" style="word-spacing:-0.0346em;">Not due at balance sheet date  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5563em;top:10.6553em;"><span class="stl_267 stl_08 stl_256">272  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2907em;top:10.6553em;"><span class="stl_267 stl_08 stl_170">281  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.6653em;"><span class="stl_267 stl_08 stl_493" style="word-spacing:-0.0455em;">Overdue between 1 and 30 days  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9207em;top:11.6653em;"><span class="stl_267 stl_08 stl_506">72  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6613em;top:11.6653em;"><span class="stl_267 stl_08 stl_302">81  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.6753em;"><span class="stl_267 stl_08 stl_309" style="word-spacing:-0.0432em;">Overdue between 31 and 60 days  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9188em;top:12.6753em;"><span class="stl_267 stl_08 stl_602">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6363em;top:12.6753em;"><span class="stl_267 stl_08 stl_460">34  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6853em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0399em;">Overdue by more than 60 days  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9232em;top:13.6853em;"><span class="stl_267 stl_08 stl_351">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.655em;top:13.6853em;"><span class="stl_267 stl_08 stl_116">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.6953em;"><span class="stl_264 stl_08 stl_68" style="word-spacing:-0.0287em;">Total trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5638em;top:14.6953em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2882em;top:14.6953em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.7053em;"><span class="stl_267 stl_08 stl_226" style="word-spacing:-0.036em;">Total trade receivables, discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:15.7053em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:15.7053em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.7153em;"><span class="stl_264 stl_08 stl_424" style="word-spacing:-0.0306em;">Total trade receivables, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5638em;top:16.7153em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2882em;top:16.7153em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.3266em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0368em;">Part of the non-invoiced trade receivables are regarding long-term projects, where the amount will be invoiced  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.1597em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">to the customer over the operation period which is more than one year. The long-term project amount to DKK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.9928em;"><span class="stl_202 stl_08 stl_143" style="word-spacing:-0.025em;">25 million as of 31 December 2024 (2023: DKK 49 million), of these 19 million will be invoiced in 2025.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8016em;"><span class="stl_264 stl_08 stl_181" style="word-spacing:-0.0272em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.6347em;"><span class="stl_202 stl_08 stl_211" style="word-spacing:-0.0323em;">Trade receivables are initially recognized at fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.4678em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0383em;">and subsequently measured at amortized cost using  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:35.301em;"><span class="stl_202 stl_08 stl_240" style="word-spacing:-0.0418em;">the effective interest method, less allowance for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.1341em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0407em;">doubtful trade receivables.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:6.9672em;"><span class="stl_202 stl_08 stl_149" style="word-spacing:-0.0381em;">Allowance for doubtful trade receivables is made  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.8003em;"><span class="stl_202 stl_08 stl_176" style="word-spacing:-0.0394em;">using the expected credit loss model, which uses a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:8.6335em;"><span class="stl_202 stl_08 stl_390" style="word-spacing:-0.0389em;">lifetime expected loss allowance for all trade receiv-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.4666em;"><span class="stl_202 stl_08 stl_176">ables.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.1335em;"><span class="stl_202 stl_08 stl_425" style="word-spacing:-0.0426em;">The allowance is deducted from the carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.9666em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0366em;">amount of trade receivables and the amount of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:12.7997em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0343em;">loss is recognized in the income statement under  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:13.6328em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0363em;">cost of goods sold.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.965em;"><span class="stl_527 stl_08 stl_468" style="word-spacing:0.1571em;">3.6 Trade</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.473em;top:15.965em;"><span class="stl_527 stl_08 stl_208">receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.2855em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:17.2855em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:17.2855em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.9492em;"><span class="stl_267 stl_08 stl_340" style="word-spacing:-0.0342em;">Total trade receivables (gross)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.6008em;top:18.9492em;"><span class="stl_267 stl_08 stl_184">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2783em;top:18.9492em;"><span class="stl_267 stl_08 stl_307">482  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:19.9592em;"><span class="stl_267 stl_08 stl_203" style="word-spacing:-0.0371em;">Allowances for bad debt in the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4677em;top:19.9592em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0358em;top:19.9592em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:20.9692em;"><span class="stl_264 stl_08 stl_11" style="word-spacing:-0.0261em;">Total trade receivables (net)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5789em;top:20.9692em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3033em;top:20.9692em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:22.9886em;"><span class="stl_267 stl_08 stl_249" style="word-spacing:-0.0343em;">Total trade receivables (net), discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4677em;top:22.9886em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.192em;top:22.9886em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:23.9986em;"><span class="stl_264 stl_08 stl_66" style="word-spacing:-0.0291em;">Total trade receivables (net), continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5789em;top:23.9986em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3033em;top:23.9986em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:25.6036em;"><span class="stl_264 stl_08 stl_34" style="word-spacing:-0.0324em;">Trade receivables is recognized in the balance sheet as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:26.6136em;"><span class="stl_267 stl_08 stl_529" style="word-spacing:-0.0374em;">Trade receivables, non-current  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3114em;top:26.6136em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6627em;top:26.6136em;"><span class="stl_267 stl_08 stl_351">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:27.6236em;"><span class="stl_267 stl_08 stl_492" style="word-spacing:-0.0333em;">Trade receivables, current  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5914em;top:27.6236em;"><span class="stl_267 stl_08 stl_462">470  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3314em;top:27.6236em;"><span class="stl_267 stl_08 stl_684">451  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:28.6336em;"><span class="stl_264 stl_08 stl_68" style="word-spacing:-0.0287em;">Total trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5795em;top:28.6336em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3039em;top:28.6336em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:30.2449em;"><span class="stl_202 stl_08 stl_12" style="word-spacing:-0.0403em;">NNIT applies the IFRS 9 simplified approach to measure expected credit losses, which uses a lifetime expected  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:31.078em;"><span class="stl_202 stl_08 stl_59" style="word-spacing:-0.0388em;">loss allowance for all trade receivables. NNIT has assessed historical realized losses adjusted by a forward-looking  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:31.9111em;"><span class="stl_202 stl_08 stl_147" style="word-spacing:-0.0377em;">estimate related to the probability of a significant change in the economic environment. Historically NNIT has not  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:32.7442em;"><span class="stl_202 stl_08 stl_312" style="word-spacing:-0.0369em;">realized any losses on trade receivables due to the economic environment. Losses have been due to claim settle-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:33.5774em;"><span class="stl_202 stl_08 stl_37" style="word-spacing:-0.0433em;">ment with customers.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:35.2442em;"><span class="stl_202 stl_08 stl_144" style="word-spacing:-0.0408em;">Further NNIT continuously conduct individual assessments of bad debts. If this leads to an assessment that NNIT  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:36.0774em;"><span class="stl_774 stl_08 stl_31" style="word-spacing:-0.0411em;">will not be able to collect all outstanding payments, an allowance for bad debt is made. NNIT A/S has based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:36.9105em;"><span class="stl_202 stl_08 stl_372" style="word-spacing:-0.0342em;">an individual assessment recognised expected credit loss of DKK 0 million as of 31 December 2024 (2023: DKK 6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:37.7436em;"><span class="stl_202 stl_08 stl_155">million).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:6.9716em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:6.9716em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6353em;"><span class="stl_264 stl_08 stl_243" style="word-spacing:-0.0396em;">Aging of non-impaired trade receivables:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.6453em;"><span class="stl_267 stl_08 stl_321" style="word-spacing:-0.0391em;">Non-invoiced trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9257em;top:9.6453em;"><span class="stl_267 stl_08 stl_581">85  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6432em;top:9.6453em;"><span class="stl_267 stl_08 stl_602">60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.6553em;"><span class="stl_267 stl_08 stl_72" style="word-spacing:-0.0346em;">Not due at balance sheet date  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5563em;top:10.6553em;"><span class="stl_267 stl_08 stl_256">272  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2907em;top:10.6553em;"><span class="stl_267 stl_08 stl_170">281  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.6653em;"><span class="stl_267 stl_08 stl_493" style="word-spacing:-0.0455em;">Overdue between 1 and 30 days  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9207em;top:11.6653em;"><span class="stl_267 stl_08 stl_506">72  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6613em;top:11.6653em;"><span class="stl_267 stl_08 stl_302">81  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.6753em;"><span class="stl_267 stl_08 stl_309" style="word-spacing:-0.0432em;">Overdue between 31 and 60 days  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9188em;top:12.6753em;"><span class="stl_267 stl_08 stl_602">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6363em;top:12.6753em;"><span class="stl_267 stl_08 stl_460">34  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6853em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0399em;">Overdue by more than 60 days  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9232em;top:13.6853em;"><span class="stl_267 stl_08 stl_351">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.655em;top:13.6853em;"><span class="stl_267 stl_08 stl_116">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.6953em;"><span class="stl_264 stl_08 stl_68" style="word-spacing:-0.0287em;">Total trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5638em;top:14.6953em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2882em;top:14.6953em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.7053em;"><span class="stl_267 stl_08 stl_226" style="word-spacing:-0.036em;">Total trade receivables, discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:15.7053em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:15.7053em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.7153em;"><span class="stl_264 stl_08 stl_424" style="word-spacing:-0.0306em;">Total trade receivables, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5638em;top:16.7153em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2882em;top:16.7153em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.3266em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0368em;">Part of the non-invoiced trade receivables are regarding long-term projects, where the amount will be invoiced  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.1597em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">to the customer over the operation period which is more than one year. The long-term project amount to DKK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.9928em;"><span class="stl_202 stl_08 stl_143" style="word-spacing:-0.025em;">25 million as of 31 December 2024 (2023: DKK 49 million), of these 19 million will be invoiced in 2025.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:34.4535em;"><span class="stl_610 stl_08 stl_423">Pensions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:35.2866em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0398em;">NNIT operates a number of defined-contribution  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.7488em;top:36.1197em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0373em;">pension plans. The costs of these pension plans are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0351em;">recognized in the financial year in which the relevant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">NNIT employees provided the related service.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.4716em;"><span class="stl_202 stl_08 stl_581" style="word-spacing:-0.0421em;">In some countries NNIT operates defined-benefit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3047em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0334em;">plans. Such liabilities are measured at the present  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1379em;"><span class="stl_202 stl_08 stl_259" style="word-spacing:-0.0437em;">value of the expected payments related to benefits  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.971em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">accrued at the balance sheet date less the fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.8041em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0405em;">of plan assets by applying the projected unit credit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6372em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0352em;">method. Plan assets, if any, are measured at fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.4703em;"><span class="stl_202 stl_08 stl_514" style="word-spacing:-0.0467em;">value and offset against the defined benefit obli-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.3035em;"><span class="stl_202 stl_08 stl_530" style="word-spacing:-0.0424em;">gation in the balance sheet. Service costs and the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1366em;"><span class="stl_202 stl_08 stl_424" style="word-spacing:-0.031em;">interest component are recognized in the income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.9697em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">statement. Actuarial gains and losses are recog-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8028em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.0331em;">nized in other comprehensive income in the period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.636em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0346em;">in which they occur. Settlements are immediately  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4691em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0356em;">recognized in the income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_269" style="word-spacing:0.0238em;">2.2 Employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:6.9785em;"><span class="stl_264 stl_08 stl_214">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:6.9785em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6423em;"><span class="stl_264 stl_08 stl_266" style="word-spacing:-0.0355em;">Employee costs comprise:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.6523em;"><span class="stl_267 stl_08 stl_411" style="word-spacing:-0.0345em;">Wages and salaries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.0332em;top:9.6523em;"><span class="stl_267 stl_08 stl_163">1,090  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7482em;top:9.6523em;"><span class="stl_267 stl_08 stl_266">1,383  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.6623em;"><span class="stl_267 stl_08 stl_509" style="word-spacing:-0.0462em;">Share-based payments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:10.6623em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:10.6623em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.6723em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.038em;">Pensions – defined contribution plans  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9425em;top:11.6723em;"><span class="stl_267 stl_08 stl_57">76  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6613em;top:11.6723em;"><span class="stl_267 stl_08 stl_302">91  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.6823em;"><span class="stl_267 stl_08 stl_529" style="word-spacing:-0.037em;">Pensions – defined benefit obligations (note 3.7)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:12.6823em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:12.6823em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6923em;"><span class="stl_267 stl_08 stl_695" style="word-spacing:-0.0441em;">Other employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9225em;top:13.6923em;"><span class="stl_267 stl_08 stl_518">98  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3238em;top:13.6923em;"><span class="stl_267 stl_08 stl_841">132  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.7023em;"><span class="stl_264 stl_08 stl_27" style="word-spacing:-0.028em;">Total employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9825em;top:14.7023em;"><span class="stl_274 stl_08 stl_399">1,271  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7788em;top:14.7023em;"><span class="stl_274 stl_08 stl_109">1,611  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.3073em;"><span class="stl_267 stl_08 stl_203" style="word-spacing:-0.0365em;">Total employee costs, discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:16.3073em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2794em;top:16.3073em;"><span class="stl_267 stl_08 stl_581">347  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.3173em;"><span class="stl_264 stl_08 stl_179" style="word-spacing:-0.0304em;">Total employee costs, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9825em;top:17.3173em;"><span class="stl_274 stl_08 stl_399">1,271  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6888em;top:17.3173em;"><span class="stl_274 stl_08 stl_654">1,264  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.9223em;"><span class="stl_267 stl_08 stl_91" style="word-spacing:-0.0419em;">Capitalized under IT development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7244em;top:18.9223em;"><span class="stl_267 stl_08 stl_146">(40)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.8175em;top:18.9223em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9788em;top:19.9323em;"><span class="stl_274 stl_08 stl_473">1,231  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7294em;top:19.9323em;"><span class="stl_274 stl_08 stl_215">1,261  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.5373em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0351em;">Included in the income statement under the following headings:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.5473em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5657em;top:22.5473em;"><span class="stl_267 stl_08 stl_143">928  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2782em;top:22.5473em;"><span class="stl_267 stl_08 stl_268">977  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.5573em;"><span class="stl_267 stl_08 stl_230" style="word-spacing:-0.0408em;">Sales and marketing costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9182em;top:23.5573em;"><span class="stl_267 stl_08 stl_289">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6475em;top:23.5573em;"><span class="stl_267 stl_08 stl_351">56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.5673em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0426em;">Administrative expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5819em;top:24.5673em;"><span class="stl_267 stl_08 stl_84">188  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3063em;top:24.5673em;"><span class="stl_267 stl_08 stl_379">160  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.5773em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9388em;top:25.5773em;"><span class="stl_267 stl_08 stl_192">47  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6425em;top:25.5773em;"><span class="stl_267 stl_08 stl_289">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.5873em;"><span class="stl_264 stl_08 stl_27" style="word-spacing:-0.028em;">Total employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9788em;top:26.5873em;"><span class="stl_274 stl_08 stl_473">1,231  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7294em;top:26.5873em;"><span class="stl_274 stl_08 stl_215">1,261  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.1923em;"><span class="stl_267 stl_08 stl_228" style="word-spacing:-0.038em;">Average number of full-time employees, total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.06em;top:28.1923em;"><span class="stl_267 stl_08 stl_196">1,704  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8319em;top:28.1923em;"><span class="stl_267 stl_08 stl_295">1,974  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.2023em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0365em;">Average number of full-time employees, continuing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.06em;top:29.2023em;"><span class="stl_267 stl_08 stl_196">1,704  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7757em;top:29.2023em;"><span class="stl_267 stl_08 stl_296">1,773  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:5.658em;"><span class="stl_527 stl_08 stl_117" style="word-spacing:0.1668em;">3.7 Employee</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:44.033em;top:5.658em;"><span class="stl_527 stl_08 stl_168" style="word-spacing:-0.0241em;">benefit obligations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:7.0974em;"><span class="stl_264 stl_08 stl_254" style="word-spacing:-0.0404em;">Defined benefit pension obligations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:8.6452em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.3833em;top:8.6452em;"><span class="stl_263 stl_08 stl_228" style="word-spacing:-0.0386em;">Pension liability  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.7445em;top:8.6452em;"><span class="stl_263 stl_08 stl_244" style="word-spacing:-0.0377em;">Plan asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:67.0383em;top:8.6452em;"><span class="stl_263 stl_08 stl_268" style="word-spacing:-0.0433em;">Net liability  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.2858em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.4983em;"><span class="stl_267 stl_08 stl_226" style="word-spacing:-0.0362em;">At the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.3677em;top:11.4983em;"><span class="stl_267 stl_08 stl_602">60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.0408em;top:11.4983em;"><span class="stl_267 stl_08 stl_351">56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0833em;top:11.4983em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.4608em;"><span class="stl_267 stl_08 stl_523" style="word-spacing:-0.0478em;">Current service costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.7452em;top:12.4608em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5708em;top:12.4608em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0839em;top:12.4608em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:13.4233em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0426em;">Interest cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.7458em;top:13.4233em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4152em;top:13.4233em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2408em;top:13.4233em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7414em;top:14.3858em;"><span class="stl_267 stl_08 stl_534" style="word-spacing:-0.0357em;">Employer contributions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.9027em;top:14.3858em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4158em;top:14.3858em;"><span class="stl_267 stl_08 stl_19">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.8458em;top:14.3858em;"><span class="stl_267 stl_08 stl_460">(7)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7414em;top:15.3483em;"><span class="stl_267 stl_08 stl_232" style="word-spacing:-0.0452em;">Benefits paid from plan asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.1689em;top:15.3483em;"><span class="stl_267 stl_08 stl_255">(23)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.8383em;top:15.3483em;"><span class="stl_267 stl_08 stl_255">(23)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2414em;top:15.3483em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.742em;top:16.3108em;"><span class="stl_267 stl_08 stl_531" style="word-spacing:-0.0338em;">Remeasurement gains/(losses) recognized in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.742em;top:17.1439em;"><span class="stl_267 stl_08 stl_226" style="word-spacing:-0.0357em;">other comprehensive income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.9033em;top:17.1439em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.262em;top:17.1439em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0858em;top:17.1439em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7427em;top:18.1064em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0411em;">Plan participant contribution etc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.7477em;top:18.1064em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.417em;top:18.1064em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0864em;top:18.1064em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7433em;top:19.0689em;"><span class="stl_267 stl_08 stl_403">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.7483em;top:19.0689em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4176em;top:19.0689em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.087em;top:19.0689em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7439em;top:20.0314em;"><span class="stl_264 stl_08 stl_186" style="word-spacing:-0.0316em;">At the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.382em;top:20.0314em;"><span class="stl_274 stl_08 stl_340">47  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.037em;top:20.0314em;"><span class="stl_274 stl_08 stl_594">42  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0883em;top:20.0314em;"><span class="stl_274 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:22.25em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.3358em;top:22.25em;"><span class="stl_263 stl_08 stl_228" style="word-spacing:-0.0386em;">Pension liability  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.697em;top:22.25em;"><span class="stl_263 stl_08 stl_244" style="word-spacing:-0.0377em;">Plan asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.9908em;top:22.25em;"><span class="stl_263 stl_08 stl_268" style="word-spacing:-0.0433em;">Net liability  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.8907em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:25.1032em;"><span class="stl_267 stl_08 stl_226" style="word-spacing:-0.0362em;">At the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.3639em;top:25.1032em;"><span class="stl_267 stl_08 stl_288">61  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.0089em;top:25.1032em;"><span class="stl_267 stl_08 stl_421">59  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:25.1032em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:26.0657em;"><span class="stl_267 stl_08 stl_523" style="word-spacing:-0.0483em;">Current service costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.6977em;top:26.0657em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5233em;top:26.0657em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:26.0657em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:27.0282em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0426em;">Interest cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.6977em;top:27.0282em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.367em;top:27.0282em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:27.0282em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:27.9907em;"><span class="stl_267 stl_08 stl_534" style="word-spacing:-0.0357em;">Employer contributions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.4995em;top:27.9907em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.367em;top:27.9907em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.797em;top:27.9907em;"><span class="stl_267 stl_08 stl_460">(7)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:28.9532em;"><span class="stl_267 stl_08 stl_232" style="word-spacing:-0.0452em;">Benefits paid from plan asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.1901em;top:28.9532em;"><span class="stl_267 stl_08 stl_716">(13)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.8595em;top:28.9532em;"><span class="stl_267 stl_08 stl_716">(13)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1926em;top:28.9532em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:29.9157em;"><span class="stl_267 stl_08 stl_531" style="word-spacing:-0.0338em;">Remeasurement gains/(losses) recognized in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:30.7488em;"><span class="stl_267 stl_08 stl_226" style="word-spacing:-0.0357em;">other comprehensive income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.6976em;top:30.7488em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.2126em;top:30.7488em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:30.7488em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:31.7113em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0411em;">Plan participant contribution etc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.6976em;top:31.7113em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.367em;top:31.7113em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1926em;top:31.7113em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:32.6738em;"><span class="stl_267 stl_08 stl_256" style="word-spacing:-0.0402em;">Exchange rate adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.6976em;top:32.6738em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.367em;top:32.6738em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:32.6738em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:33.6363em;"><span class="stl_264 stl_08 stl_186" style="word-spacing:-0.0316em;">At the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.3145em;top:33.6363em;"><span class="stl_274 stl_08 stl_460">60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.9864em;top:33.6363em;"><span class="stl_274 stl_08 stl_707">56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:33.6363em;"><span class="stl_274 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:35.2244em;"><span class="stl_202 stl_08 stl_124" style="word-spacing:-0.0398em;">The defined benefit plans in the Group relates to NNIT Switzerland AG and NNIT Digital &amp; Life Sciences Phillip-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:36.0575em;"><span class="stl_202 stl_08 stl_60" style="word-spacing:-0.0391em;">ines Inc.. No other entities have individual significant net pension obligations or assets. The composition of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:36.8907em;"><span class="stl_202 stl_08 stl_182" style="word-spacing:-0.0404em;">pension plan assets are mainly shares quoted in active markets. The defined benefit plans are usually funded by  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:37.7238em;"><span class="stl_202 stl_08 stl_207" style="word-spacing:-0.0353em;">payments from Group companies and by employees to funds independent of NNIT. The weighted average dura-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:38.5569em;"><span class="stl_202 stl_08 stl_133" style="word-spacing:-0.0345em;">tion of the defined benefit obligation is 12.0 years (2022: </span><span class="stl_202 stl_08 stl_213">1</span><span class="stl_202 stl_08 stl_361" style="word-spacing:-0.0038em;">1.7 years).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:6.9716em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:6.9716em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6353em;"><span class="stl_264 stl_08 stl_534" style="word-spacing:-0.036em;">Assumptions used for valuation</span><sup style="top: -0.2079em;"><span class="stl_281 stl_08 stl_654" style="word-spacing:-0.0617em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.6453em;"><span class="stl_267 stl_08 stl_531" style="word-spacing:-0.0334em;">Discount rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8857em;top:9.6453em;"><span class="stl_267 stl_08 stl_99">1.26%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6419em;top:9.6453em;"><span class="stl_267 stl_08 stl_361">1.75%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.6553em;"><span class="stl_267 stl_08 stl_240" style="word-spacing:-0.042em;">Price inflation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9644em;top:10.6553em;"><span class="stl_267 stl_08 stl_410">1.19%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6025em;top:10.6553em;"><span class="stl_267 stl_08 stl_312">1.25%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:11.6653em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.0383em;">Projected future remuneration increases  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9263em;top:11.6653em;"><span class="stl_267 stl_08 stl_671">1.81%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6444em;top:11.6653em;"><span class="stl_267 stl_08 stl_361">1.75%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:12.6753em;"><span class="stl_267 stl_08 stl_320" style="word-spacing:-0.0385em;">Interest crediting rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8788em;top:12.6753em;"><span class="stl_267 stl_08 stl_312">0.95%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6444em;top:12.6753em;"><span class="stl_267 stl_08 stl_361">1.75%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.1695em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_473" style="word-spacing:-0.0536em;">ꢀAssumptions are calculated and presented based on weighted average of the Defined Benefit Plans in NNIT Switzerland AG and NNIT  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.1968em;top:14.753em;"><span class="stl_350 stl_08 stl_349" style="word-spacing:-0.0528em;">Digital &amp; Life Sciences Philippines Inc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1612em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0383em;">Actuarial valuations are performed annually.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.4177em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:18.4177em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:18.4177em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.1827em;"><span class="stl_267 stl_08 stl_581" style="word-spacing:-0.0417em;">Defined benefit pension obligations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:20.1827em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:20.1827em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.1927em;"><span class="stl_267 stl_08 stl_237" style="word-spacing:-0.0363em;">Employee benefit obligations (contingent consideration agreement)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9644em;top:21.1927em;"><span class="stl_267 stl_08 stl_816">19  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6625em;top:21.1927em;"><span class="stl_267 stl_08 stl_421">59  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.2027em;"><span class="stl_264 stl_08 stl_227" style="word-spacing:-0.0315em;">Total employee benefit obligations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9094em;top:22.2027em;"><span class="stl_274 stl_08 stl_405">24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6394em;top:22.2027em;"><span class="stl_274 stl_08 stl_577">63  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:23.2127em;"><span class="stl_267 stl_08 stl_253" style="word-spacing:-0.0387em;">Total employee benefit obligations, non-current discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4532em;top:23.2127em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1775em;top:23.2127em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:24.2227em;"><span class="stl_264 stl_08 stl_34" style="word-spacing:-0.0317em;">Total employee benefit obligations, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.91em;top:24.2227em;"><span class="stl_274 stl_08 stl_405">24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.64em;top:24.2227em;"><span class="stl_274 stl_08 stl_577">63  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:26.6677em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0359em;">Employee benefit obligation is recognized in the balance sheet as followed:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.2138em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:28.2138em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:28.2138em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.8775em;"><span class="stl_267 stl_08 stl_340" style="word-spacing:-0.0342em;">Non-current liabilities (1-5 years)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:29.8775em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:29.8775em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.8875em;"><span class="stl_267 stl_08 stl_120" style="word-spacing:-0.0349em;">Current liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9644em;top:30.8875em;"><span class="stl_267 stl_08 stl_816">19  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6582em;top:30.8875em;"><span class="stl_267 stl_08 stl_454">57  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.8975em;"><span class="stl_264 stl_08 stl_186" style="word-spacing:-0.0312em;">Total employee benefit obligation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9094em;top:31.8975em;"><span class="stl_274 stl_08 stl_405">24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6394em;top:31.8975em;"><span class="stl_274 stl_08 stl_577">63  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:13.6335em;"><span class="stl_264 stl_08 stl_72">Provisions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.4666em;"><span class="stl_202 stl_08 stl_386" style="word-spacing:-0.0327em;">Provisions are recognized when NNIT has a legal or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.2997em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0434em;">constructive obligation arising from past events, it is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.1328em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0385em;">probable that NNIT will have to draw on its financial  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.966em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0382em;">resources to settle the liability, and the liability can  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.7991em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">be reliably estimated.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.466em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0366em;">Provisions in the case of NNIT consist mainly of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.2991em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0363em;">refurbishment obligations.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.966em;"><span class="stl_610 stl_08 stl_245" style="word-spacing:-0.035em;">Provision for refurbishment obligation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:22.7991em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.033em;">This refers to refurbishment obligations regarding  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.6322em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0383em;">NNIT's lease agreements for rental of premises.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:13.6335em;"><span class="stl_264 stl_08 stl_72">Provisions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:14.4666em;"><span class="stl_202 stl_08 stl_386" style="word-spacing:-0.0327em;">Provisions are recognized when NNIT has a legal or  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:15.2997em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0434em;">constructive obligation arising from past events, it is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.1328em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0385em;">probable that NNIT will have to draw on its financial  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:16.966em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0382em;">resources to settle the liability, and the liability can  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.7991em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">be reliably estimated.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:19.466em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0366em;">Provisions in the case of NNIT consist mainly of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.2991em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0363em;">refurbishment obligations.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:21.966em;"><span class="stl_610 stl_08 stl_245" style="word-spacing:-0.035em;">Provision for refurbishment obligation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:22.7991em;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.033em;">This refers to refurbishment obligations regarding  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:23.6322em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0383em;">NNIT's lease agreements for rental of premises.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:5.658em;"><span class="stl_527 stl_08 stl_164" style="word-spacing:0.1181em;">3.8 Provisions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:6.9785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:6.9785em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:6.9785em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:8.6423em;"><span class="stl_264 stl_08 stl_492" style="word-spacing:-0.0333em;">Provision for refurbishment obligation*  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.6523em;"><span class="stl_267 stl_08 stl_226" style="word-spacing:-0.0362em;">At the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9477em;top:9.6523em;"><span class="stl_267 stl_08 stl_170">27  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6595em;top:9.6523em;"><span class="stl_267 stl_08 stl_638">30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.6623em;"><span class="stl_267 stl_08 stl_320">Additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.312em;top:10.6623em;"><span class="stl_267 stl_08 stl_19">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:10.6623em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.6723em;"><span class="stl_267 stl_08 stl_121">Disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:11.6723em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.8402em;top:11.6723em;"><span class="stl_267 stl_08 stl_149">(6)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:12.6823em;"><span class="stl_264 stl_08 stl_186" style="word-spacing:-0.0316em;">At the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9345em;top:12.6823em;"><span class="stl_274 stl_08 stl_353">35  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6564em;top:12.6823em;"><span class="stl_274 stl_08 stl_750">27  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:14.2015em;"><span class="stl_347 stl_08 stl_399" style="word-spacing:-0.0496em;">*ꢀProvision for refurbishment obligation, included under non-current liabilities, relates to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.2657em;top:14.785em;"><span class="stl_347 stl_08 stl_475" style="word-spacing:-0.0526em;">the leasehold agreements in the Group with a refurbishment obligation.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.6706em;"><span class="stl_264 stl_08 stl_243" style="word-spacing:-0.039em;">Other provisions*  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.6806em;"><span class="stl_267 stl_08 stl_226" style="word-spacing:-0.0362em;">At the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9802em;top:17.6806em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.192em;top:17.6806em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.6906em;"><span class="stl_267 stl_08 stl_203" style="word-spacing:-0.0374em;">Additions for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.312em;top:18.6906em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.7052em;top:18.6906em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:19.7006em;"><span class="stl_267 stl_08 stl_120">Utilized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7939em;top:19.7006em;"><span class="stl_267 stl_08 stl_301">(15)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1933em;top:19.7006em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:20.7106em;"><span class="stl_264 stl_08 stl_186" style="word-spacing:-0.0316em;">At the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3133em;top:20.7106em;"><span class="stl_274 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.682em;top:20.7106em;"><span class="stl_274 stl_08 stl_379">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:22.2296em;"><span class="stl_347 stl_08 stl_512" style="word-spacing:-0.0523em;">*ꢀOther provisions mainly consist of provisions for risks related to projects.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.7553em;"><span class="stl_264 stl_08 stl_387" style="word-spacing:-0.034em;">Provision are recognized in the balance sheet as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:24.7653em;"><span class="stl_267 stl_08 stl_235" style="word-spacing:-0.0417em;">Non-current liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.312em;top:24.7653em;"><span class="stl_267 stl_08 stl_19">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.672em;top:24.7653em;"><span class="stl_267 stl_08 stl_170">27  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:25.7753em;"><span class="stl_267 stl_08 stl_120" style="word-spacing:-0.0349em;">Current liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9408em;top:25.7753em;"><span class="stl_267 stl_08 stl_268">28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.7045em;top:25.7753em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:26.7853em;"><span class="stl_264 stl_08 stl_11" style="word-spacing:-0.0256em;">Total liability  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9333em;top:26.7853em;"><span class="stl_274 stl_08 stl_214">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6552em;top:26.7853em;"><span class="stl_274 stl_08 stl_594">42  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0351em;">Long-term incentive program  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.9691em;"><span class="stl_202 stl_08 stl_215" style="word-spacing:-0.0316em;">Group Management and the Vice President Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8022em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">are part of a long-term share-based incentive  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.6353em;"><span class="stl_202 stl_08 stl_143" style="word-spacing:-0.025em;">program (LTIP).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.3022em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.036em;">Under the program, NNIT allocates shares based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.1353em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0406em;">operating profit and free cash flow.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.8022em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0397em;">The participants receive NNIT shares. The shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.6353em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">are subject to a lock-up period of four years.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3022em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">NNIT has the obligation to deliver treasury shares,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.1353em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.036em;">and accordingly, the arrangement is classified as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.9685em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0412em;">an equitysettled arrangement and will be charged  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8016em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0338em;">to the income statement over the four-year vesting  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.6347em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">period based on the market price at the grant date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:6.9678em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">Due to legal restrictions in some jurisdictions and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.801em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">contractual agreements a small part of the LTIP  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:8.6341em;"><span class="stl_202 stl_08 stl_494" style="word-spacing:-0.0442em;">program is setteled in cash. For the part settled in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.4672em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">cash the cost will be charged to the income state-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.3003em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">ment including impact from changes in the share-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.1335em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">price. The libility related to the cash settled part is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.9666em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0364em;">included in Other liabilities in the balance sheet.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.136em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0351em;">Long-term incentive program  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.9691em;"><span class="stl_202 stl_08 stl_215" style="word-spacing:-0.0316em;">Group Management and the Vice President Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8022em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">are part of a long-term share-based incentive  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.6353em;"><span class="stl_202 stl_08 stl_143" style="word-spacing:-0.025em;">program (LTIP).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.3022em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.036em;">Under the program, NNIT allocates shares based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.1353em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0406em;">operating profit and free cash flow.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.8022em;"><span class="stl_202 stl_08 stl_243" style="word-spacing:-0.0397em;">The participants receive NNIT shares. The shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.6353em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">are subject to a lock-up period of four years.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3022em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">NNIT has the obligation to deliver treasury shares,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.1353em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.036em;">and accordingly, the arrangement is classified as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.9685em;"><span class="stl_202 stl_08 stl_532" style="word-spacing:-0.0412em;">an equitysettled arrangement and will be charged  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8016em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0338em;">to the income statement over the four-year vesting  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.6347em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">period based on the market price at the grant date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:6.9678em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0409em;">Due to legal restrictions in some jurisdictions and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:7.801em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">contractual agreements a small part of the LTIP  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:8.6341em;"><span class="stl_202 stl_08 stl_494" style="word-spacing:-0.0442em;">program is setteled in cash. For the part settled in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:9.4672em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">cash the cost will be charged to the income state-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:10.3003em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">ment including impact from changes in the share-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.1335em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0414em;">price. The libility related to the cash settled part is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:11.9666em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0364em;">included in Other liabilities in the balance sheet.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_269" style="word-spacing:0.0238em;">2.2 Employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:6.9785em;"><span class="stl_264 stl_08 stl_214">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:6.9785em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6423em;"><span class="stl_264 stl_08 stl_266" style="word-spacing:-0.0355em;">Employee costs comprise:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.6523em;"><span class="stl_267 stl_08 stl_411" style="word-spacing:-0.0345em;">Wages and salaries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.0332em;top:9.6523em;"><span class="stl_267 stl_08 stl_163">1,090  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7482em;top:9.6523em;"><span class="stl_267 stl_08 stl_266">1,383  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.6623em;"><span class="stl_267 stl_08 stl_509" style="word-spacing:-0.0462em;">Share-based payments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:10.6623em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:10.6623em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.6723em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.038em;">Pensions – defined contribution plans  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9425em;top:11.6723em;"><span class="stl_267 stl_08 stl_57">76  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6613em;top:11.6723em;"><span class="stl_267 stl_08 stl_302">91  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.6823em;"><span class="stl_267 stl_08 stl_529" style="word-spacing:-0.037em;">Pensions – defined benefit obligations (note 3.7)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:12.6823em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:12.6823em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6923em;"><span class="stl_267 stl_08 stl_695" style="word-spacing:-0.0441em;">Other employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9225em;top:13.6923em;"><span class="stl_267 stl_08 stl_518">98  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3238em;top:13.6923em;"><span class="stl_267 stl_08 stl_841">132  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.7023em;"><span class="stl_264 stl_08 stl_27" style="word-spacing:-0.028em;">Total employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9825em;top:14.7023em;"><span class="stl_274 stl_08 stl_399">1,271  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7788em;top:14.7023em;"><span class="stl_274 stl_08 stl_109">1,611  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.3073em;"><span class="stl_267 stl_08 stl_203" style="word-spacing:-0.0365em;">Total employee costs, discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:16.3073em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2794em;top:16.3073em;"><span class="stl_267 stl_08 stl_581">347  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.3173em;"><span class="stl_264 stl_08 stl_179" style="word-spacing:-0.0304em;">Total employee costs, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9825em;top:17.3173em;"><span class="stl_274 stl_08 stl_399">1,271  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6888em;top:17.3173em;"><span class="stl_274 stl_08 stl_654">1,264  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.9223em;"><span class="stl_267 stl_08 stl_91" style="word-spacing:-0.0419em;">Capitalized under IT development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7244em;top:18.9223em;"><span class="stl_267 stl_08 stl_146">(40)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.8175em;top:18.9223em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9788em;top:19.9323em;"><span class="stl_274 stl_08 stl_473">1,231  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7294em;top:19.9323em;"><span class="stl_274 stl_08 stl_215">1,261  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.5373em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0351em;">Included in the income statement under the following headings:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.5473em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5657em;top:22.5473em;"><span class="stl_267 stl_08 stl_143">928  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2782em;top:22.5473em;"><span class="stl_267 stl_08 stl_268">977  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.5573em;"><span class="stl_267 stl_08 stl_230" style="word-spacing:-0.0408em;">Sales and marketing costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9182em;top:23.5573em;"><span class="stl_267 stl_08 stl_289">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6475em;top:23.5573em;"><span class="stl_267 stl_08 stl_351">56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.5673em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0426em;">Administrative expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5819em;top:24.5673em;"><span class="stl_267 stl_08 stl_84">188  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3063em;top:24.5673em;"><span class="stl_267 stl_08 stl_379">160  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.5773em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9388em;top:25.5773em;"><span class="stl_267 stl_08 stl_192">47  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6425em;top:25.5773em;"><span class="stl_267 stl_08 stl_289">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.5873em;"><span class="stl_264 stl_08 stl_27" style="word-spacing:-0.028em;">Total employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9788em;top:26.5873em;"><span class="stl_274 stl_08 stl_473">1,231  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7294em;top:26.5873em;"><span class="stl_274 stl_08 stl_215">1,261  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.1923em;"><span class="stl_267 stl_08 stl_228" style="word-spacing:-0.038em;">Average number of full-time employees, total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.06em;top:28.1923em;"><span class="stl_267 stl_08 stl_196">1,704  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8319em;top:28.1923em;"><span class="stl_267 stl_08 stl_295">1,974  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.2023em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0365em;">Average number of full-time employees, continuing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.06em;top:29.2023em;"><span class="stl_267 stl_08 stl_196">1,704  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7757em;top:29.2023em;"><span class="stl_267 stl_08 stl_296">1,773  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:6.9754em;"><span class="stl_264 stl_08 stl_387" style="word-spacing:-0.0336em;">Remuneration of Board of Directors and Group Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:7.8085em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.037em;">The current policy for the remuneration of the Board of Directors and Executive Management was adopted in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:8.6416em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0339em;">2024 and sets out the general guidelines for the remuneration of the Group’s management. The guidelines for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:9.4748em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.036em;">the remuneration of the Board of Directors and Executive Management are available on NNIT’s website.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:11.0167em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0364em;">In addition to the disclosures provided in this note, more details on the remuneration of Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:11.8498em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">and Directors are provided in the separate Remuneration report, which is not a part of the audited financial  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:12.6829em;"><span class="stl_202 stl_08 stl_581" style="word-spacing:-0.0419em;">statements. The report is also available on NNIT’s website.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:14.2248em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0345em;">Board of Directors remuneration  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.5272em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:15.5272em;"><span class="stl_264 stl_08 stl_214">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:15.5272em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.1322em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0422em;">Ordinary board member fee  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7795em;top:17.1322em;"><span class="stl_267 stl_08 stl_209">3.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4889em;top:17.1322em;"><span class="stl_267 stl_08 stl_231">3.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.1422em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0425em;">Audit Committee  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7514em;top:18.1422em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4758em;top:18.1422em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:19.1522em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0398em;">Remuneration Committee  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7533em;top:19.1522em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4777em;top:19.1522em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.1622em;"><span class="stl_264 stl_08 stl_227" style="word-spacing:-0.0321em;">Total fee to Board of Directors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7214em;top:20.1622em;"><span class="stl_274 stl_08 stl_398">4.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5102em;top:20.1622em;"><span class="stl_274 stl_08 stl_594">4</span><span class="stl_274 stl_08 stl_842">.</span><span class="stl_274 stl_08 stl_842">1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_264 stl_08 stl_203" style="word-spacing:-0.0367em;">Group Management's remuneration and share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.0159em;top:8.0481em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.894em;top:9.235em;"><span class="stl_263 stl_08 stl_239">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7709em;top:9.985em;"><span class="stl_263 stl_08 stl_276">members  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.0628em;top:10.735em;"><span class="stl_263 stl_08 stl_493">Executive  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.9915em;top:10.735em;"><span class="stl_263 stl_08 stl_340" style="word-spacing:-0.034em;">of Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7246em;top:11.485em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.9634em;top:11.485em;"><span class="stl_263 stl_08 stl_257" style="word-spacing:0.9176em;">Management Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9153em;top:11.485em;"><span class="stl_263 stl_08 stl_419">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.724em;top:13.1487em;"><span class="stl_267 stl_08 stl_607" style="word-spacing:-0.0539em;">Base salary  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0834em;top:13.1487em;"><span class="stl_267 stl_08 stl_843">7.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4671em;top:13.1487em;z-index:177;"><span class="stl_267 stl_08 stl_844">12.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1703em;top:13.1487em;"><span class="stl_267 stl_08 stl_729">19.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.724em;top:14.1587em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0412em;">Cash Bonus (STIP and employee benefit cost)</span><sup style="top: -0.2082em;"><span class="stl_281 stl_08 stl_401" style="word-spacing:-0.0706em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7278em;top:14.1587em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4522em;top:14.1587em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1766em;top:14.1587em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:15.1687em;"><span class="stl_267 stl_08 stl_428" style="word-spacing:-0.0473em;">One off bonus  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7278em;top:15.1687em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4522em;top:15.1687em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1766em;top:15.1687em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:16.1787em;"><span class="stl_267 stl_08 stl_228" style="word-spacing:-0.0386em;">Remuneration in connection with redundancy,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:17.0118em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0399em;">resignations and release from duty to work  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7278em;top:17.0118em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4522em;top:17.0118em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1766em;top:17.0118em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:18.0218em;"><span class="stl_267 stl_08 stl_165">Pension  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0197em;top:18.0218em;"><span class="stl_267 stl_08 stl_695">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7716em;top:18.0218em;"><span class="stl_267 stl_08 stl_21">1.5  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.5191em;top:18.0218em;"><span class="stl_267 stl_08 stl_797">1.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:19.0318em;"><span class="stl_267 stl_08 stl_522">Benefits  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0197em;top:19.0318em;"><span class="stl_267 stl_08 stl_695">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7635em;top:19.0318em;"><span class="stl_267 stl_08 stl_209">0.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4903em;top:19.0318em;"><span class="stl_267 stl_08 stl_419">1.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:20.0418em;"><span class="stl_267 stl_08 stl_259" style="word-spacing:-0.0436em;">Share-based incentives</span><sup style="top: -0.2094em;"><span class="stl_281 stl_08 stl_846" style="word-spacing:-0.0748em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0443em;top:20.0405em;"><span class="stl_267 stl_08 stl_85">0.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7374em;top:20.0405em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4887em;top:20.0405em;"><span class="stl_267 stl_08 stl_209">0.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:21.0505em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0328em;">Group Management total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0643em;top:21.0505em;"><span class="stl_274 stl_08 stl_845">9.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3818em;top:21.0505em;"><span class="stl_274 stl_08 stl_168">14.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.0555em;top:21.0505em;"><span class="stl_274 stl_08 stl_744">23.8  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.0176em;top:22.779em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8939em;top:23.9659em;"><span class="stl_263 stl_08 stl_239">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7708em;top:24.7159em;"><span class="stl_263 stl_08 stl_276">members  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.0626em;top:25.4659em;"><span class="stl_263 stl_08 stl_493">Executive  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.9914em;top:25.4659em;"><span class="stl_263 stl_08 stl_340" style="word-spacing:-0.034em;">of Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7245em;top:26.2159em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.9633em;top:26.2159em;"><span class="stl_263 stl_08 stl_257" style="word-spacing:0.9176em;">Management Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9151em;top:26.2159em;"><span class="stl_263 stl_08 stl_419">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7239em;top:27.8797em;"><span class="stl_267 stl_08 stl_607" style="word-spacing:-0.0539em;">Base salary  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0739em;top:27.8797em;z-index:503;"><span class="stl_267 stl_08 stl_272">7</span><span class="stl_267 stl_08 stl_521">.</span><span class="stl_267 stl_08 stl_521">4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4189em;top:27.8797em;"><span class="stl_267 stl_08 stl_694">13.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1514em;top:27.8797em;"><span class="stl_267 stl_08 stl_359">21.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7239em;top:28.8897em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0412em;">Cash Bonus (STIP and employee benefit cost)</span><sup style="top: -0.2082em;"><span class="stl_281 stl_08 stl_401" style="word-spacing:-0.0707em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0653em;top:28.8896em;z-index:553;"><span class="stl_267 stl_08 stl_713">4.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7897em;top:28.8896em;z-index:555;"><span class="stl_267 stl_08 stl_272">7</span><span class="stl_267 stl_08 stl_847">.</span><span class="stl_267 stl_08 stl_847">3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1835em;top:28.8896em;"><span class="stl_267 stl_08 stl_848">11.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:29.8996em;"><span class="stl_267 stl_08 stl_428" style="word-spacing:-0.0473em;">One off bonus  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0147em;top:29.8996em;"><span class="stl_267 stl_08 stl_349">3.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.746em;top:29.8996em;"><span class="stl_267 stl_08 stl_254">6.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4772em;top:29.8996em;"><span class="stl_267 stl_08 stl_275">9.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7234em;top:30.9096em;"><span class="stl_267 stl_08 stl_228" style="word-spacing:-0.0386em;">Remuneration in connection with redundancy,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7234em;top:31.7428em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0399em;">resignations and release from duty to work  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7272em;top:31.7428em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4678em;top:31.7428em;"><span class="stl_267 stl_08 stl_849">11.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1922em;top:31.7428em;"><span class="stl_267 stl_08 stl_849">11.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:32.7528em;"><span class="stl_267 stl_08 stl_165">Pension  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0197em;top:32.7528em;"><span class="stl_267 stl_08 stl_695">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7841em;top:32.7528em;"><span class="stl_267 stl_08 stl_682">1.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4747em;top:32.7528em;"><span class="stl_267 stl_08 stl_248">2.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:33.7628em;"><span class="stl_267 stl_08 stl_278">Benefits  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0197em;top:33.7628em;"><span class="stl_267 stl_08 stl_695">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.766em;top:33.7628em;"><span class="stl_267 stl_08 stl_419">1.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.5235em;top:33.7628em;"><span class="stl_267 stl_08 stl_770">1.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:34.7728em;"><span class="stl_267 stl_08 stl_259" style="word-spacing:-0.0436em;">Share-based incentives</span><sup style="top: -0.2094em;"><span class="stl_281 stl_08 stl_846" style="word-spacing:-0.0748em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.728em;top:34.7715em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7355em;top:34.7715em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4599em;top:34.7715em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:35.7815em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0328em;">Group Management total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.6643em;top:35.7815em;"><span class="stl_274 stl_08 stl_33">15.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4037em;top:35.7815em;"><span class="stl_274 stl_08 stl_273">41.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1237em;top:35.7815em;"><span class="stl_274 stl_08 stl_375">57.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:37.2763em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_351" style="word-spacing:-0.05em;">ꢀEmployee benefit cost (contingent consideration agreement) related to the acquisition of Excellis Health Solutions. Following a decision  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.1968em;top:37.8598em;"><span class="stl_350 stl_08 stl_349" style="word-spacing:-0.0528em;">by the Danish Business Authority concerning accounting treatment of Employee benefit cost (earn-out payment) related to acquisitions,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.1968em;top:38.4433em;"><span class="stl_350 stl_08 stl_473" style="word-spacing:-0.0536em;">these payments are to be considered and expensed as salary.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:39.0263em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">2</span></sup><span class="stl_347 stl_08 stl_92" style="word-spacing:-0.0499em;">ꢀIncludes the annually recognized expense on granted share based and launch incentive programmes, which are not released.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:7.0661em;"><span class="stl_264 stl_08 stl_188" style="word-spacing:-0.0372em;">Short-term incentive program (STIP)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:7.8992em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0404em;">Group Management and certain other employees participate in a STIP program, which entitles each participant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:8.7323em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">to receive an annual performance-based cash bonus, linked to the achievement of a number of predefined  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.5655em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0417em;">functional and individual business targets. Performance is measured for each financial year and the cash-based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.3986em;z-index:1540;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.0331em;">incentives, if any, are paid after announcement of the annual report for the subsequent year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.0655em;"><span class="stl_264 stl_08 stl_186" style="word-spacing:-0.0318em;">Long-term incentive program (LTIP)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.8986em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0343em;">LTIP is designed to promote the collective performance of Group Management and Vice Presidents to align the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.7317em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">interests of executives and shareholders.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.2736em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">The program is based on revenue and earnings, before interest and tax compared to the targeted levels.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.1067em;"><span class="stl_202 stl_08 stl_34" style="word-spacing:-0.0323em;">Shares are recognised over the four-year vesting period.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.6486em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0362em;">NNIT's Board of Directors approves the financial targets for the coming year, ensuring that the short-term  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.4817em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">targets are aligned with NNIT's long-term targets and strategy.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.0236em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0382em;">The allocation under LTIP for the CEO cannot exceed twelve months base salary, and the allocation for the CFO  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.8567em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0362em;">cannot exceed nine months base salary. The allocation for the other members of Group Management cannot  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:21.6898em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0373em;">exceed nine moths base salary.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.2317em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0352em;">The shares allocated to the members of Group Management that are fully vested, will be released to the indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:24.0648em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.038em;">vidual participants subsequent to the approval of the Annual Report 2024 by the Board of Directors.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:25.6067em;"><span class="stl_202 stl_08 stl_73" style="word-spacing:-0.0325em;">Based on the share price at the end of 2024, the value of the released shares is as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.6595em;top:27.0325em;"><span class="stl_263 stl_08 stl_266">Number  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.2764em;top:27.0325em;"><span class="stl_263 stl_08 stl_424">Market  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:27.7825em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.3933em;top:27.7825em;"><span class="stl_263 stl_08 stl_535" style="word-spacing:-0.0329em;">of shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7945em;top:27.7825em;"><span class="stl_263 stl_08 stl_120">value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:29.4462em;"><span class="stl_264 stl_08 stl_532" style="word-spacing:-0.0412em;">Values at December 31, 2024 of shares to be released February 20, 2025  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:30.4562em;"><span class="stl_267 stl_08 stl_387" style="word-spacing:-0.0343em;">Pär Fors</span><sup style="top: -0.2082em;"><span class="stl_281 stl_08 stl_476" style="word-spacing:-0.0588em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5462em;top:30.4562em;"><span class="stl_267 stl_08 stl_198">1,942  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4775em;top:30.4562em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:31.4662em;"><span class="stl_267 stl_08 stl_270" style="word-spacing:-0.0442em;">Carsten Ringius  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.94em;top:31.4662em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1919em;top:31.4662em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:32.4762em;"><span class="stl_264 stl_08 stl_249" style="word-spacing:-0.0345em;">Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4644em;top:32.4762em;"><span class="stl_274 stl_08 stl_299">1,942  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4544em;top:32.4762em;"><span class="stl_274 stl_08 stl_310">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:33.7862em;"><span class="stl_264 stl_08 stl_534" style="word-spacing:-0.0359em;">Other members of Group Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5031em;top:33.7862em;"><span class="stl_274 stl_08 stl_174">1,765  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4544em;top:33.7862em;"><span class="stl_274 stl_08 stl_310">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:35.0962em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0328em;">Group Management total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4762em;top:35.0962em;"><span class="stl_274 stl_08 stl_270">3,707  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4625em;top:35.0962em;"><span class="stl_274 stl_08 stl_710">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:36.5901em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_591" style="word-spacing:-0.0557em;">ꢀWill be settled in cash.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:38.1231em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0375em;">Please refer to note 5.1 for an overview of outstanding RSU’s.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3825em;"><span class="stl_527 stl_08 stl_29" style="word-spacing:0.2348em;">5.1 Long-term</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:10.310em;top:10.3825em;"><span class="stl_527 stl_08 stl_144">incentives  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.8218em;"><span class="stl_264 stl_08 stl_408" style="word-spacing:-0.0393em;">Long-term share-based incentive program  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.655em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0357em;">Group Management and the Vice Presidents are included in a long-term share-based incentive program.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.4881em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0344em;">For more information regarding the long-term share-based incentive program, please refer to note 2.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.3212em;"><span class="stl_202 stl_08 stl_309" style="word-spacing:-0.0433em;">'Employee costs'  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.9881em;"><span class="stl_264 stl_08 stl_231" style="word-spacing:-0.0368em;">Share-based payments are recognized at the following amounts:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.5363em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:17.5363em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:17.5363em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.2em;"><span class="stl_267 stl_08 stl_249" style="word-spacing:-0.0345em;">Long-term incentive program (LTIP) in NNIT shares - share based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:19.2em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:19.2em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.21em;"><span class="stl_264 stl_08 stl_531" style="word-spacing:-0.034em;">Incentive program charged to income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2969em;top:20.21em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0213em;top:20.21em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.815em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.0348em;">Recognized in the income statement:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.825em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:22.825em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:22.825em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.835em;"><span class="stl_267 stl_08 stl_200">Administration  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:23.835em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:23.835em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.845em;"><span class="stl_264 stl_08 stl_157">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2969em;top:24.845em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0213em;top:24.845em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.4563em;"><span class="stl_202 stl_08 stl_186" style="word-spacing:-0.0317em;">Shares are recognized over the four-year vesting period at the market value at the grant date. Value adjust-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.2894em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">ments are recognized as financial items.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.8377em;"><span class="stl_264 stl_08 stl_247" style="word-spacing:-0.0375em;">Outstanding restricted stock units (in NNIT shares):  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.3855em;"><span class="stl_263 stl_08 stl_299" style="word-spacing:-0.0531em;">Number '000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:13.3855em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:13.3855em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.0493em;"><span class="stl_267 stl_08 stl_532" style="word-spacing:-0.0412em;">Outstanding at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5702em;top:15.0493em;"><span class="stl_267 stl_08 stl_305">209  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3558em;top:15.0493em;"><span class="stl_267 stl_08 stl_828">141  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.0593em;"><span class="stl_267 stl_08 stl_257" style="word-spacing:-0.0329em;">Long-term incentive program (LTIP)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:16.0593em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3352em;top:16.0593em;"><span class="stl_267 stl_08 stl_466">125  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.0693em;"><span class="stl_267 stl_08 stl_67" style="word-spacing:-0.0293em;">Transfer to employees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7308em;top:17.0693em;"><span class="stl_267 stl_08 stl_230">(25)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4995em;top:17.0693em;"><span class="stl_267 stl_08 stl_376">(31)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.0793em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0399em;">Committed to employees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:18.0793em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.847em;top:18.0793em;"><span class="stl_267 stl_08 stl_331">(9)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:19.0893em;"><span class="stl_267 stl_08 stl_309" style="word-spacing:-0.0433em;">Forfeiture during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7308em;top:19.0893em;"><span class="stl_267 stl_08 stl_230">(78)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5033em;top:19.0893em;"><span class="stl_267 stl_08 stl_680">(17)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.0993em;"><span class="stl_264 stl_08 stl_226" style="word-spacing:-0.0362em;">Outstanding at the end of the year (in NNIT shares)</span><sup style="top: -0.2093em;"><span class="stl_281 stl_08 stl_763" style="word-spacing:-0.0621em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5667em;top:20.0981em;"><span class="stl_274 stl_08 stl_204">106  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2729em;top:20.0981em;"><span class="stl_274 stl_08 stl_594">209  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7404em;top:21.7031em;"><span class="stl_267 stl_08 stl_245" style="word-spacing:-0.0353em;">Fair value of the RSU's end of period (DKK million)</span><sup style="top: -0.2082em;"><span class="stl_281 stl_08 stl_653" style="word-spacing:-0.0605em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9532em;top:21.703em;"><span class="stl_274 stl_08 stl_462">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6801em;top:21.703em;"><span class="stl_274 stl_08 stl_192">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.1981em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_523" style="word-spacing:-0.048em;">ꢀThe share price as of December 31, 2024 has been used when calculating the fair value of the RSU’s.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.7814em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">2</span></sup><span class="stl_347 stl_08 stl_268" style="word-spacing:-0.0441em;">ꢀKey management has been in total granted 20,487 shares with a fair value of DKK 1.9 million as of December 31, 2024.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.2991em;"><span class="stl_264 stl_08 stl_178" style="word-spacing:-0.0213em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.1322em;"><span class="stl_202 stl_08 stl_340" style="word-spacing:-0.0342em;">Trade payables are measured at amortized cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.7991em;"><span class="stl_264 stl_08 stl_369" style="word-spacing:-0.0326em;">Other current liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:28.6322em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0374em;">Other current liabilities comprise accrued expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.4653em;"><span class="stl_202 stl_08 stl_466" style="word-spacing:0.0215em;">and VAT.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:25.2991em;"><span class="stl_264 stl_08 stl_178" style="word-spacing:-0.0213em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:26.1322em;"><span class="stl_202 stl_08 stl_340" style="word-spacing:-0.0342em;">Trade payables are measured at amortized cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:27.7991em;"><span class="stl_264 stl_08 stl_369" style="word-spacing:-0.0326em;">Other current liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:28.6322em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0374em;">Other current liabilities comprise accrued expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:29.4653em;"><span class="stl_202 stl_08 stl_466" style="word-spacing:0.0215em;">and VAT.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.1322em;"><span class="stl_264 stl_08 stl_425" style="word-spacing:-0.0424em;">Cash flow statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.9653em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0395em;">The cash flow statement is prepared using the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.7985em;"><span class="stl_202 stl_08 stl_270" style="word-spacing:-0.0443em;">indirect method. The cash flow statement shows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:33.6316em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0378em;">the cash flows for the year, divided into operating,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:6.9647em;"><span class="stl_202 stl_08 stl_270" style="word-spacing:-0.0447em;">investing and financing activities, and how these  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:7.7978em;"><span class="stl_202 stl_08 stl_232" style="word-spacing:-0.0454em;">cash flows have affected the cash position for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:8.631em;z-index:2204;"><span class="stl_202 stl_08 stl_198" style="word-spacing:-0.0107em;">the year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:10.2978em;"><span class="stl_610 stl_08 stl_493" style="word-spacing:-0.0456em;">Cash flow from operating activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.131em;"><span class="stl_202 stl_08 stl_530" style="word-spacing:-0.0424em;">Cash flows from operating activities are calculated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.9641em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">as the net profit for the year, adjusted for non-cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.7972em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0407em;">operating items. These include amortization, depre-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.6303em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0419em;">ciation and write-downs, share-based compen-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.4635em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">sation, change in net working capital and interest  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.2966em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0352em;">received and paid.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.9635em;"><span class="stl_610 stl_08 stl_428" style="word-spacing:-0.0473em;">Cash flow from investing activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:17.7966em;"><span class="stl_202 stl_08 stl_695" style="word-spacing:-0.0448em;">Cash flows from investing activities comprise cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:18.6297em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0399em;">flows from the purchase and sale of intangible,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:19.4628em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0432em;">tangible and financial non-current assets and the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.296em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0398em;">purchase and sale of securities. Further including  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:21.1291em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">aqusition of subsidaries.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:22.796em;"><span class="stl_610 stl_08 stl_484" style="word-spacing:-0.0483em;">Cash flow from financing activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:23.6291em;"><span class="stl_202 stl_08 stl_89" style="word-spacing:-0.0449em;">Cash flows from financing activities comprise cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:24.4622em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0382em;">flows from raising and repaying long-term debt,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:25.2953em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">dividend payments to shareholders, instalments on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:26.1285em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0371em;">lease liabilities and credit facilities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:27.7953em;"><span class="stl_610 stl_08 stl_530" style="word-spacing:-0.0421em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:28.6285em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0404em;">Cash and cash equivalents include cash.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:30.2953em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0436em;">The cash flow statement cannot be derived from the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:31.1285em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0369em;">annual report alone.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.1322em;"><span class="stl_264 stl_08 stl_425" style="word-spacing:-0.0424em;">Cash flow statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:31.9653em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0395em;">The cash flow statement is prepared using the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:32.7985em;"><span class="stl_202 stl_08 stl_270" style="word-spacing:-0.0443em;">indirect method. The cash flow statement shows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:33.6316em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0378em;">the cash flows for the year, divided into operating,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:6.9647em;"><span class="stl_202 stl_08 stl_270" style="word-spacing:-0.0447em;">investing and financing activities, and how these  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:7.7978em;"><span class="stl_202 stl_08 stl_232" style="word-spacing:-0.0454em;">cash flows have affected the cash position for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:8.631em;z-index:2204;"><span class="stl_202 stl_08 stl_198" style="word-spacing:-0.0107em;">the year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:10.2978em;"><span class="stl_610 stl_08 stl_493" style="word-spacing:-0.0456em;">Cash flow from operating activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.131em;"><span class="stl_202 stl_08 stl_530" style="word-spacing:-0.0424em;">Cash flows from operating activities are calculated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:11.9641em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">as the net profit for the year, adjusted for non-cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:12.7972em;"><span class="stl_202 stl_08 stl_254" style="word-spacing:-0.0407em;">operating items. These include amortization, depre-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:13.6303em;"><span class="stl_202 stl_08 stl_91" style="word-spacing:-0.0419em;">ciation and write-downs, share-based compen-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:14.4635em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0386em;">sation, change in net working capital and interest  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:15.2966em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0352em;">received and paid.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:16.9635em;"><span class="stl_610 stl_08 stl_428" style="word-spacing:-0.0473em;">Cash flow from investing activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:17.7966em;"><span class="stl_202 stl_08 stl_695" style="word-spacing:-0.0448em;">Cash flows from investing activities comprise cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:18.6297em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0399em;">flows from the purchase and sale of intangible,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:19.4628em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0432em;">tangible and financial non-current assets and the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:20.296em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0398em;">purchase and sale of securities. Further including  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:21.1291em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">aqusition of subsidaries.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:22.796em;"><span class="stl_610 stl_08 stl_484" style="word-spacing:-0.0483em;">Cash flow from financing activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:23.6291em;"><span class="stl_202 stl_08 stl_89" style="word-spacing:-0.0449em;">Cash flows from financing activities comprise cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:24.4622em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0382em;">flows from raising and repaying long-term debt,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:25.2953em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">dividend payments to shareholders, instalments on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:26.1285em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0371em;">lease liabilities and credit facilities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:27.7953em;"><span class="stl_610 stl_08 stl_530" style="word-spacing:-0.0421em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:28.6285em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0404em;">Cash and cash equivalents include cash.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:30.2953em;"><span class="stl_202 stl_08 stl_276" style="word-spacing:-0.0436em;">The cash flow statement cannot be derived from the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7407em;top:31.1285em;"><span class="stl_202 stl_08 stl_255" style="word-spacing:-0.0369em;">annual report alone.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.5433em;top:6.9716em;"><span class="stl_263 stl_08 stl_248">Credit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.6589em;top:6.9716em;"><span class="stl_263 stl_08 stl_226">Lease  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:7.7216em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.7908em;top:7.7216em;"><span class="stl_263 stl_08 stl_266">Facilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.2058em;top:7.7216em;"><span class="stl_263 stl_08 stl_232">liability  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9308em;top:7.7216em;"><span class="stl_263 stl_08 stl_419">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:9.3853em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:10.6216em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0348em;">Financial liabilities included in finance activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:11.5722em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0409em;">Financing liabilities included in finance activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:12.4053em;"><span class="stl_267 stl_08 stl_534" style="word-spacing:-0.0366em;">at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.2802em;top:12.4053em;"><span class="stl_267 stl_08 stl_372">267  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.6333em;top:12.4053em;"><span class="stl_267 stl_08 stl_304">64  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3058em;top:12.4053em;"><span class="stl_267 stl_08 stl_170">331  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:13.8285em;"><span class="stl_264 stl_08 stl_232" style="word-spacing:-0.0445em;">Cash flows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:14.7791em;"><span class="stl_267 stl_08 stl_428">Instalments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.1608em;top:14.7791em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4414em;top:14.7791em;"><span class="stl_267 stl_08 stl_228">(56)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4564em;top:14.7791em;"><span class="stl_267 stl_08 stl_228">(56)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.7297em;"><span class="stl_267 stl_08 stl_408" style="word-spacing:-0.0392em;">Ingoing/outgoing payments during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.0052em;top:15.7297em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.177em;top:15.7297em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:15.7297em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.1529em;"><span class="stl_264 stl_08 stl_344" style="word-spacing:-0.052em;">Non-cash flows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.1035em;"><span class="stl_267 stl_08 stl_229">Addition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.1614em;top:18.1035em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3195em;top:18.1035em;"><span class="stl_267 stl_08 stl_466">125  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3345em;top:18.1035em;"><span class="stl_267 stl_08 stl_466">125  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:19.0541em;"><span class="stl_267 stl_08 stl_121">Disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.162em;top:19.0541em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8183em;top:19.0541em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.8339em;top:19.0541em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:20.0047em;"><span class="stl_264 stl_08 stl_340" style="word-spacing:-0.0337em;">Total financial liabilities included in finance activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:20.8379em;"><span class="stl_264 stl_08 stl_186" style="word-spacing:-0.0316em;">at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.2558em;top:20.8379em;"><span class="stl_274 stl_08 stl_506">271  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.2877em;top:20.8379em;"><span class="stl_274 stl_08 stl_233">130  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2764em;top:20.8379em;"><span class="stl_274 stl_08 stl_292">401  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.5433em;top:22.6565em;"><span class="stl_263 stl_08 stl_248">Credit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.6589em;top:22.6565em;"><span class="stl_263 stl_08 stl_226">Lease  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.4065em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.7908em;top:23.4065em;"><span class="stl_263 stl_08 stl_266">Facilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.2058em;top:23.4065em;"><span class="stl_263 stl_08 stl_232">liability  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9308em;top:23.4065em;"><span class="stl_263 stl_08 stl_419">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:25.0702em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:26.3065em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0348em;">Financial liabilities included in finance activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:27.2571em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0409em;">Financing liabilities included in finance activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:28.0902em;"><span class="stl_267 stl_08 stl_534" style="word-spacing:-0.0366em;">at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.2714em;top:28.0902em;"><span class="stl_267 stl_08 stl_68">857  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3152em;top:28.0902em;"><span class="stl_267 stl_08 stl_684">156  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.842em;top:28.0902em;"><span class="stl_267 stl_08 stl_868">1,013  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:29.5134em;"><span class="stl_264 stl_08 stl_232" style="word-spacing:-0.0445em;">Cash flows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:30.464em;"><span class="stl_267 stl_08 stl_428">Instalments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.1608em;top:30.464em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4477em;top:30.464em;"><span class="stl_267 stl_08 stl_211">(66)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4627em;top:30.464em;"><span class="stl_267 stl_08 stl_211">(66)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:31.4146em;"><span class="stl_267 stl_08 stl_408" style="word-spacing:-0.0392em;">Ingoing/outgoing payments during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.0652em;top:31.4146em;"><span class="stl_267 stl_08 stl_179">(590)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.1764em;top:31.4146em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.0964em;top:31.4146em;"><span class="stl_267 stl_08 stl_179">(590)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:32.8377em;"><span class="stl_264 stl_08 stl_344" style="word-spacing:-0.052em;">Non-cash flows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:33.7884em;"><span class="stl_267 stl_08 stl_229">Addition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.1608em;top:33.7884em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.6889em;top:33.7884em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.7045em;top:33.7884em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:34.739em;"><span class="stl_267 stl_08 stl_121">Disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.1614em;top:34.739em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4489em;top:34.739em;"><span class="stl_267 stl_08 stl_146">(40)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4633em;top:34.739em;"><span class="stl_267 stl_08 stl_146">(40)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:35.6896em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0381em;">Exchange rate adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.1614em;top:35.6896em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8664em;top:35.6896em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.882em;top:35.6896em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:36.6402em;"><span class="stl_264 stl_08 stl_340" style="word-spacing:-0.0337em;">Total financial liabilities included in finance activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:37.4734em;"><span class="stl_264 stl_08 stl_186" style="word-spacing:-0.0316em;">at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.2552em;top:37.4734em;"><span class="stl_274 stl_08 stl_490">267  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.6295em;top:37.4734em;"><span class="stl_274 stl_08 stl_809">64  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2839em;top:37.4734em;"><span class="stl_274 stl_08 stl_582">331  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.4092em;"><span class="stl_527 stl_08 stl_424" style="word-spacing:0.0036em;">5.3 Reversal of non-cash items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.7297em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.205em;top:20.7297em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9613em;top:20.7297em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:22.3935em;"><span class="stl_267 stl_08 stl_244" style="word-spacing:-0.037em;">Income taxes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0075em;top:22.3935em;"><span class="stl_267 stl_08 stl_286">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6963em;top:22.3935em;"><span class="stl_267 stl_08 stl_351">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:23.4035em;"><span class="stl_267 stl_08 stl_425" style="word-spacing:-0.0422em;">Amortization, depreciation and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9794em;top:23.4035em;"><span class="stl_267 stl_08 stl_116">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6963em;top:23.4035em;"><span class="stl_267 stl_08 stl_351">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:24.4135em;"><span class="stl_267 stl_08 stl_259" style="word-spacing:-0.0437em;">Gain/loss on disposed assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.5007em;top:24.4135em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.9144em;top:24.4135em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:25.4235em;"><span class="stl_267 stl_08 stl_531" style="word-spacing:-0.0341em;">Gain on sublease  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3438em;top:25.4235em;"><span class="stl_267 stl_08 stl_19">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.5494em;top:25.4235em;"><span class="stl_267 stl_08 stl_301">(15)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:26.4335em;"><span class="stl_267 stl_08 stl_276" style="word-spacing:-0.0432em;">Gain on divestment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.5em;top:26.4335em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1919em;top:26.4335em;"><span class="stl_267 stl_08 stl_452">(120)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:27.4435em;"><span class="stl_267 stl_08 stl_244" style="word-spacing:-0.0378em;">Increase/(decrease) in provisions, non-current transition cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.1407em;top:27.4435em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0682em;top:27.4435em;"><span class="stl_267 stl_08 stl_19">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:28.4535em;"><span class="stl_267 stl_08 stl_235" style="word-spacing:-0.0413em;">Provision share-based payments NNIT shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3438em;top:28.4535em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0682em;top:28.4535em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:29.4635em;"><span class="stl_267 stl_08 stl_253" style="word-spacing:-0.0388em;">Allowances for bad debt  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.1575em;top:29.4635em;"><span class="stl_267 stl_08 stl_98">(4)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0688em;top:29.4635em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:30.4735em;"><span class="stl_267 stl_08 stl_493">Interests  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0082em;top:30.4735em;"><span class="stl_267 stl_08 stl_286">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6982em;top:30.4735em;"><span class="stl_267 stl_08 stl_268">28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:31.4835em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.0385em;">Sublease addition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0082em;top:31.4835em;"><span class="stl_267 stl_08 stl_286">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.7088em;top:31.4835em;"><span class="stl_267 stl_08 stl_366">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:32.4935em;"><span class="stl_267 stl_08 stl_228" style="word-spacing:-0.0387em;">Net foreign exchange differences  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.015em;top:32.4935em;"><span class="stl_267 stl_08 stl_818">17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.7282em;top:32.4935em;"><span class="stl_267 stl_08 stl_74">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:33.5035em;"><span class="stl_267 stl_08 stl_246" style="word-spacing:-0.0402em;">Reversal deferred income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7494em;top:33.5035em;"><span class="stl_267 stl_08 stl_519">(37)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.2257em;top:33.5035em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:34.5135em;"><span class="stl_267 stl_08 stl_509" style="word-spacing:-0.046em;">Other adjustments for non-cash items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.8219em;top:34.5135em;"><span class="stl_267 stl_08 stl_570">(10)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.8663em;top:34.5135em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:35.5235em;"><span class="stl_264 stl_08 stl_157">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9619em;top:35.5235em;"><span class="stl_274 stl_08 stl_460">73  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4988em;top:35.5235em;"><span class="stl_274 stl_08 stl_155">(14)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:5.658em;"><span class="stl_527 stl_08 stl_11" style="word-spacing:-0.0006em;">5.4 Statement of cash flows – specifications  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:6.9785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:6.9785em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:6.9785em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:8.6423em;"><span class="stl_264 stl_08 stl_492" style="word-spacing:-0.0331em;">Changes in working capital  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.6523em;"><span class="stl_267 stl_08 stl_244" style="word-spacing:-0.0375em;">Increase/(decrease) in current receivables less non-current  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.4854em;"><span class="stl_267 stl_08 stl_230" style="word-spacing:-0.0407em;">transition cost and tax receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.6395em;top:10.4854em;"><span class="stl_267 stl_08 stl_439">211  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:10.4854em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.4954em;"><span class="stl_267 stl_08 stl_72" style="word-spacing:-0.0343em;">Increase/(decrease) in current liabilities less provisions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.3285em;"><span class="stl_267 stl_08 stl_309" style="word-spacing:-0.0433em;">and tax payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4277em;top:12.3285em;"><span class="stl_267 stl_08 stl_642">(241)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.152em;top:12.3285em;"><span class="stl_267 stl_08 stl_642">(241)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.3385em;"><span class="stl_267 stl_08 stl_320" style="word-spacing:-0.0385em;">Change in trade payables related to investments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:13.3385em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6714em;top:13.3385em;"><span class="stl_267 stl_08 stl_170">24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:14.3485em;"><span class="stl_264 stl_08 stl_157">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.6945em;top:14.3485em;"><span class="stl_274 stl_08 stl_344">(30)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.0752em;top:14.3485em;"><span class="stl_274 stl_08 stl_58">(214)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.9535em;"><span class="stl_264 stl_08 stl_188" style="word-spacing:-0.0369em;">Purchase of tangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.9635em;"><span class="stl_267 stl_08 stl_230" style="word-spacing:-0.0408em;">Purchase of tangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7952em;top:16.9635em;"><span class="stl_267 stl_08 stl_337">(18)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4602em;top:16.9635em;"><span class="stl_267 stl_08 stl_245">(22)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.9735em;"><span class="stl_267 stl_08 stl_234" style="word-spacing:-0.0374em;">Change in trade payables related to purchase of tangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:17.9735em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4689em;top:17.9735em;"><span class="stl_267 stl_08 stl_116">(24)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:18.9835em;"><span class="stl_264 stl_08 stl_157">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7439em;top:18.9835em;"><span class="stl_274 stl_08 stl_378">(18)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4233em;top:18.9835em;"><span class="stl_274 stl_08 stl_523">(46)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:20.5885em;"><span class="stl_264 stl_08 stl_340" style="word-spacing:-0.0336em;">Additional cash flow information</span><sup style="top: -0.2096em;"><span class="stl_281 stl_08 stl_855" style="word-spacing:-0.0577em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:21.5968em;"><span class="stl_267 stl_08 stl_232" style="word-spacing:-0.045em;">Cash and equivalents, assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.6045em;top:21.5968em;"><span class="stl_267 stl_08 stl_185">158  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2789em;top:21.5968em;"><span class="stl_267 stl_08 stl_307">254  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:22.6068em;"><span class="stl_267 stl_08 stl_250" style="word-spacing:-0.0424em;">Drawn on credit facilities, Non-Current  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4708em;top:22.6068em;"><span class="stl_267 stl_08 stl_825">(171)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.0877em;top:22.6068em;"><span class="stl_267 stl_08 stl_247">(267)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.6168em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0394em;">Drawn on credit facilities, Current  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4039em;top:23.6168em;"><span class="stl_267 stl_08 stl_338">(100)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1927em;top:23.6168em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:24.6268em;"><span class="stl_267 stl_08 stl_255" style="word-spacing:-0.0368em;">Total committed credit facilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5427em;top:24.6268em;"><span class="stl_267 stl_08 stl_851">400  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2745em;top:24.6268em;"><span class="stl_267 stl_08 stl_292">300  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:25.6368em;"><span class="stl_264 stl_08 stl_386" style="word-spacing:-0.0325em;">Financial resources at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5483em;top:25.6368em;"><span class="stl_274 stl_08 stl_594">287  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2727em;top:25.6368em;"><span class="stl_274 stl_08 stl_594">287  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:27.2418em;"><span class="stl_267 stl_08 stl_483" style="word-spacing:-0.0474em;">Cash flow from operating activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.1152em;top:27.2418em;"><span class="stl_267 stl_08 stl_149">(6)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1095em;top:27.2418em;"><span class="stl_267 stl_08 stl_31">(202)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:28.2518em;"><span class="stl_267 stl_08 stl_303" style="word-spacing:-0.0479em;">Cash flow from investing activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7202em;top:28.2518em;"><span class="stl_267 stl_08 stl_90">(34)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2702em;top:28.2518em;"><span class="stl_267 stl_08 stl_838">900  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:29.2618em;"><span class="stl_264 stl_08 stl_244" style="word-spacing:-0.0379em;">Free cash flow  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7089em;top:29.2618em;"><span class="stl_274 stl_08 stl_255">(40)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.282em;top:29.2618em;"><span class="stl_274 stl_08 stl_289">698  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:30.7551em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_518" style="word-spacing:-0.0541em;">ꢀAdditional non-IFRS measures. 'Financial resources at the end of the year' is defined as the sum of cash and cash equivalents at the end  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.2125em;top:31.3386em;"><span class="stl_350 stl_08 stl_442" style="word-spacing:-0.0567em;">of the year (net) and undrawn committed credit facilities. Free cash flow is defined as 'cash flow from operating activities' less 'cash flow  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.2125em;top:31.9221em;"><span class="stl_350 stl_08 stl_513" style="word-spacing:-0.0576em;">from investing activities'.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:33.3301em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0371em;">NNIT has a total credit facility of DKK 400 million with Nordea, consisting of DKK 100 million as line of credit and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:34.1632em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0416em;">revolving credit facility of DKK 300 million.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_269" style="word-spacing:0.0238em;">2.2 Employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:6.9785em;"><span class="stl_264 stl_08 stl_214">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:6.9785em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6423em;"><span class="stl_264 stl_08 stl_266" style="word-spacing:-0.0355em;">Employee costs comprise:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.6523em;"><span class="stl_267 stl_08 stl_411" style="word-spacing:-0.0345em;">Wages and salaries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.0332em;top:9.6523em;"><span class="stl_267 stl_08 stl_163">1,090  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7482em;top:9.6523em;"><span class="stl_267 stl_08 stl_266">1,383  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.6623em;"><span class="stl_267 stl_08 stl_509" style="word-spacing:-0.0462em;">Share-based payments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:10.6623em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:10.6623em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.6723em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.038em;">Pensions – defined contribution plans  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9425em;top:11.6723em;"><span class="stl_267 stl_08 stl_57">76  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6613em;top:11.6723em;"><span class="stl_267 stl_08 stl_302">91  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.6823em;"><span class="stl_267 stl_08 stl_529" style="word-spacing:-0.037em;">Pensions – defined benefit obligations (note 3.7)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:12.6823em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:12.6823em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6923em;"><span class="stl_267 stl_08 stl_695" style="word-spacing:-0.0441em;">Other employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9225em;top:13.6923em;"><span class="stl_267 stl_08 stl_518">98  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3238em;top:13.6923em;"><span class="stl_267 stl_08 stl_841">132  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.7023em;"><span class="stl_264 stl_08 stl_27" style="word-spacing:-0.028em;">Total employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9825em;top:14.7023em;"><span class="stl_274 stl_08 stl_399">1,271  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7788em;top:14.7023em;"><span class="stl_274 stl_08 stl_109">1,611  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.3073em;"><span class="stl_267 stl_08 stl_203" style="word-spacing:-0.0365em;">Total employee costs, discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:16.3073em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2794em;top:16.3073em;"><span class="stl_267 stl_08 stl_581">347  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.3173em;"><span class="stl_264 stl_08 stl_179" style="word-spacing:-0.0304em;">Total employee costs, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9825em;top:17.3173em;"><span class="stl_274 stl_08 stl_399">1,271  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6888em;top:17.3173em;"><span class="stl_274 stl_08 stl_654">1,264  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.9223em;"><span class="stl_267 stl_08 stl_91" style="word-spacing:-0.0419em;">Capitalized under IT development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7244em;top:18.9223em;"><span class="stl_267 stl_08 stl_146">(40)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.8175em;top:18.9223em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9788em;top:19.9323em;"><span class="stl_274 stl_08 stl_473">1,231  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7294em;top:19.9323em;"><span class="stl_274 stl_08 stl_215">1,261  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.5373em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0351em;">Included in the income statement under the following headings:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.5473em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5657em;top:22.5473em;"><span class="stl_267 stl_08 stl_143">928  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2782em;top:22.5473em;"><span class="stl_267 stl_08 stl_268">977  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.5573em;"><span class="stl_267 stl_08 stl_230" style="word-spacing:-0.0408em;">Sales and marketing costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9182em;top:23.5573em;"><span class="stl_267 stl_08 stl_289">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6475em;top:23.5573em;"><span class="stl_267 stl_08 stl_351">56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.5673em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0426em;">Administrative expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5819em;top:24.5673em;"><span class="stl_267 stl_08 stl_84">188  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3063em;top:24.5673em;"><span class="stl_267 stl_08 stl_379">160  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.5773em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9388em;top:25.5773em;"><span class="stl_267 stl_08 stl_192">47  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6425em;top:25.5773em;"><span class="stl_267 stl_08 stl_289">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.5873em;"><span class="stl_264 stl_08 stl_27" style="word-spacing:-0.028em;">Total employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9788em;top:26.5873em;"><span class="stl_274 stl_08 stl_473">1,231  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7294em;top:26.5873em;"><span class="stl_274 stl_08 stl_215">1,261  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.1923em;"><span class="stl_267 stl_08 stl_228" style="word-spacing:-0.038em;">Average number of full-time employees, total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.06em;top:28.1923em;"><span class="stl_267 stl_08 stl_196">1,704  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8319em;top:28.1923em;"><span class="stl_267 stl_08 stl_295">1,974  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.2023em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0365em;">Average number of full-time employees, continuing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.06em;top:29.2023em;"><span class="stl_267 stl_08 stl_196">1,704  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7757em;top:29.2023em;"><span class="stl_267 stl_08 stl_296">1,773  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:6.9754em;"><span class="stl_264 stl_08 stl_387" style="word-spacing:-0.0336em;">Remuneration of Board of Directors and Group Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:7.8085em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.037em;">The current policy for the remuneration of the Board of Directors and Executive Management was adopted in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:8.6416em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0339em;">2024 and sets out the general guidelines for the remuneration of the Group’s management. The guidelines for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:9.4748em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.036em;">the remuneration of the Board of Directors and Executive Management are available on NNIT’s website.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:11.0167em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0364em;">In addition to the disclosures provided in this note, more details on the remuneration of Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:11.8498em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">and Directors are provided in the separate Remuneration report, which is not a part of the audited financial  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:12.6829em;"><span class="stl_202 stl_08 stl_581" style="word-spacing:-0.0419em;">statements. The report is also available on NNIT’s website.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:14.2248em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0345em;">Board of Directors remuneration  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.5272em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:15.5272em;"><span class="stl_264 stl_08 stl_214">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:15.5272em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.1322em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0422em;">Ordinary board member fee  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7795em;top:17.1322em;"><span class="stl_267 stl_08 stl_209">3.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4889em;top:17.1322em;"><span class="stl_267 stl_08 stl_231">3.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.1422em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0425em;">Audit Committee  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7514em;top:18.1422em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4758em;top:18.1422em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:19.1522em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0398em;">Remuneration Committee  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7533em;top:19.1522em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4777em;top:19.1522em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.1622em;"><span class="stl_264 stl_08 stl_227" style="word-spacing:-0.0321em;">Total fee to Board of Directors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7214em;top:20.1622em;"><span class="stl_274 stl_08 stl_398">4.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5102em;top:20.1622em;"><span class="stl_274 stl_08 stl_594">4</span><span class="stl_274 stl_08 stl_842">.</span><span class="stl_274 stl_08 stl_842">1  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_269" style="word-spacing:0.0238em;">2.2 Employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:6.9785em;"><span class="stl_264 stl_08 stl_214">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:6.9785em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6423em;"><span class="stl_264 stl_08 stl_266" style="word-spacing:-0.0355em;">Employee costs comprise:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.6523em;"><span class="stl_267 stl_08 stl_411" style="word-spacing:-0.0345em;">Wages and salaries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.0332em;top:9.6523em;"><span class="stl_267 stl_08 stl_163">1,090  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7482em;top:9.6523em;"><span class="stl_267 stl_08 stl_266">1,383  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.6623em;"><span class="stl_267 stl_08 stl_509" style="word-spacing:-0.0462em;">Share-based payments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:10.6623em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:10.6623em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.6723em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.038em;">Pensions – defined contribution plans  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9425em;top:11.6723em;"><span class="stl_267 stl_08 stl_57">76  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6613em;top:11.6723em;"><span class="stl_267 stl_08 stl_302">91  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.6823em;"><span class="stl_267 stl_08 stl_529" style="word-spacing:-0.037em;">Pensions – defined benefit obligations (note 3.7)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:12.6823em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:12.6823em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6923em;"><span class="stl_267 stl_08 stl_695" style="word-spacing:-0.0441em;">Other employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9225em;top:13.6923em;"><span class="stl_267 stl_08 stl_518">98  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3238em;top:13.6923em;"><span class="stl_267 stl_08 stl_841">132  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.7023em;"><span class="stl_264 stl_08 stl_27" style="word-spacing:-0.028em;">Total employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9825em;top:14.7023em;"><span class="stl_274 stl_08 stl_399">1,271  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7788em;top:14.7023em;"><span class="stl_274 stl_08 stl_109">1,611  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.3073em;"><span class="stl_267 stl_08 stl_203" style="word-spacing:-0.0365em;">Total employee costs, discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:16.3073em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2794em;top:16.3073em;"><span class="stl_267 stl_08 stl_581">347  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.3173em;"><span class="stl_264 stl_08 stl_179" style="word-spacing:-0.0304em;">Total employee costs, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9825em;top:17.3173em;"><span class="stl_274 stl_08 stl_399">1,271  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6888em;top:17.3173em;"><span class="stl_274 stl_08 stl_654">1,264  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.9223em;"><span class="stl_267 stl_08 stl_91" style="word-spacing:-0.0419em;">Capitalized under IT development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7244em;top:18.9223em;"><span class="stl_267 stl_08 stl_146">(40)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.8175em;top:18.9223em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9788em;top:19.9323em;"><span class="stl_274 stl_08 stl_473">1,231  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7294em;top:19.9323em;"><span class="stl_274 stl_08 stl_215">1,261  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.5373em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0351em;">Included in the income statement under the following headings:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.5473em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5657em;top:22.5473em;"><span class="stl_267 stl_08 stl_143">928  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2782em;top:22.5473em;"><span class="stl_267 stl_08 stl_268">977  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.5573em;"><span class="stl_267 stl_08 stl_230" style="word-spacing:-0.0408em;">Sales and marketing costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9182em;top:23.5573em;"><span class="stl_267 stl_08 stl_289">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6475em;top:23.5573em;"><span class="stl_267 stl_08 stl_351">56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.5673em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0426em;">Administrative expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5819em;top:24.5673em;"><span class="stl_267 stl_08 stl_84">188  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3063em;top:24.5673em;"><span class="stl_267 stl_08 stl_379">160  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.5773em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9388em;top:25.5773em;"><span class="stl_267 stl_08 stl_192">47  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6425em;top:25.5773em;"><span class="stl_267 stl_08 stl_289">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.5873em;"><span class="stl_264 stl_08 stl_27" style="word-spacing:-0.028em;">Total employee costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9788em;top:26.5873em;"><span class="stl_274 stl_08 stl_473">1,231  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7294em;top:26.5873em;"><span class="stl_274 stl_08 stl_215">1,261  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.1923em;"><span class="stl_267 stl_08 stl_228" style="word-spacing:-0.038em;">Average number of full-time employees, total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.06em;top:28.1923em;"><span class="stl_267 stl_08 stl_196">1,704  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8319em;top:28.1923em;"><span class="stl_267 stl_08 stl_295">1,974  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.2023em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0365em;">Average number of full-time employees, continuing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.06em;top:29.2023em;"><span class="stl_267 stl_08 stl_196">1,704  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7757em;top:29.2023em;"><span class="stl_267 stl_08 stl_296">1,773  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:6.9754em;"><span class="stl_264 stl_08 stl_387" style="word-spacing:-0.0336em;">Remuneration of Board of Directors and Group Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:7.8085em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.037em;">The current policy for the remuneration of the Board of Directors and Executive Management was adopted in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:8.6416em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0339em;">2024 and sets out the general guidelines for the remuneration of the Group’s management. The guidelines for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:9.4748em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.036em;">the remuneration of the Board of Directors and Executive Management are available on NNIT’s website.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:11.0167em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0364em;">In addition to the disclosures provided in this note, more details on the remuneration of Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:11.8498em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">and Directors are provided in the separate Remuneration report, which is not a part of the audited financial  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:12.6829em;"><span class="stl_202 stl_08 stl_581" style="word-spacing:-0.0419em;">statements. The report is also available on NNIT’s website.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:14.2248em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0345em;">Board of Directors remuneration  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.5272em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:15.5272em;"><span class="stl_264 stl_08 stl_214">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:15.5272em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.1322em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0422em;">Ordinary board member fee  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7795em;top:17.1322em;"><span class="stl_267 stl_08 stl_209">3.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4889em;top:17.1322em;"><span class="stl_267 stl_08 stl_231">3.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.1422em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0425em;">Audit Committee  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7514em;top:18.1422em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4758em;top:18.1422em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:19.1522em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0398em;">Remuneration Committee  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7533em;top:19.1522em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4777em;top:19.1522em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.1622em;"><span class="stl_264 stl_08 stl_227" style="word-spacing:-0.0321em;">Total fee to Board of Directors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7214em;top:20.1622em;"><span class="stl_274 stl_08 stl_398">4.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5102em;top:20.1622em;"><span class="stl_274 stl_08 stl_594">4</span><span class="stl_274 stl_08 stl_842">.</span><span class="stl_274 stl_08 stl_842">1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.0111em;"><span class="stl_527 stl_08 stl_113" style="word-spacing:-0.0002em;">2.4 Amortization, depreciation and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.3315em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:17.3315em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:17.3315em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.9953em;"><span class="stl_267 stl_08 stl_90">Amortization  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:18.9953em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:18.9953em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.0053em;"><span class="stl_267 stl_08 stl_236">Depreciation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9125em;top:20.0053em;"><span class="stl_267 stl_08 stl_460">46  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6482em;top:20.0053em;"><span class="stl_267 stl_08 stl_351">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.0153em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0329em;">Total amortization, depreciation, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9238em;top:21.0153em;"><span class="stl_274 stl_08 stl_520">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.64em;top:21.0153em;"><span class="stl_274 stl_08 stl_707">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.0253em;"><span class="stl_267 stl_08 stl_321" style="word-spacing:-0.0394em;">Total amortization, depreciation, and impairment losses,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8584em;"><span class="stl_267 stl_08 stl_203" style="word-spacing:-0.0371em;">discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:22.8584em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:22.8584em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.8684em;"><span class="stl_264 stl_08 stl_387" style="word-spacing:-0.0335em;">Total amortization, depreciation, and impairment losses,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.7015em;"><span class="stl_264 stl_08 stl_424" style="word-spacing:-0.0309em;">continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9238em;top:24.7015em;"><span class="stl_274 stl_08 stl_520">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6369em;top:24.7015em;"><span class="stl_274 stl_08 stl_851">28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.3065em;"><span class="stl_264 stl_08 stl_237" style="word-spacing:-0.0357em;">Amortization, depreciation and impairment losses are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.1397em;"><span class="stl_264 stl_08 stl_266" style="word-spacing:-0.0354em;">recognized in the income statement:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.1497em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.98em;top:28.1497em;"><span class="stl_267 stl_08 stl_810">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:28.1497em;"><span class="stl_267 stl_08 stl_19">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.1597em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0412em;">Sales and marketing costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:29.1597em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:29.1597em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.1697em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0426em;">Administrative expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9238em;top:30.1697em;"><span class="stl_267 stl_08 stl_351">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6557em;top:30.1697em;"><span class="stl_267 stl_08 stl_116">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:31.1797em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2969em;top:31.1797em;"><span class="stl_267 stl_08 stl_19">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1775em;top:31.1797em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:32.1897em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0329em;">Total amortization, depreciation, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9244em;top:32.1897em;"><span class="stl_274 stl_08 stl_520">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6375em;top:32.1897em;"><span class="stl_274 stl_08 stl_851">28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:5.658em;"><span class="stl_527 stl_08 stl_233" style="word-spacing:0.0234em;">2.5 Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:6.9785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:6.9785em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:6.9785em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:8.6423em;"><span class="stl_264 stl_08 stl_249" style="word-spacing:-0.0342em;">Special items relates to:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.6523em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0411em;">Gain/loss from subleases  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.312em;top:9.6523em;"><span class="stl_267 stl_08 stl_19">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5177em;top:9.6523em;"><span class="stl_267 stl_08 stl_301">(15)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.6623em;"><span class="stl_267 stl_08 stl_231" style="word-spacing:-0.0368em;">Employee benefit cost (contingent consideration agreement)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9514em;top:10.6623em;"><span class="stl_267 stl_08 stl_366">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6708em;top:10.6623em;"><span class="stl_267 stl_08 stl_116">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.6723em;"><span class="stl_267 stl_08 stl_239" style="word-spacing:-0.0488em;">Restructuring cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.937em;top:11.6723em;"><span class="stl_267 stl_08 stl_516">50  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6789em;top:11.6723em;"><span class="stl_267 stl_08 stl_192">31  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.6823em;"><span class="stl_267 stl_08 stl_403">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.312em;top:12.6823em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1927em;top:12.6823em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.6923em;"><span class="stl_267 stl_08 stl_534" style="word-spacing:-0.0365em;">Cost regarding acquisition and disposal of operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7433em;top:13.6923em;"><span class="stl_267 stl_08 stl_181">(20)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3277em;top:13.6923em;"><span class="stl_267 stl_08 stl_377">103  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:14.7023em;"><span class="stl_264 stl_08 stl_132" style="word-spacing:-0.0279em;">Total special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9383em;top:14.7023em;"><span class="stl_274 stl_08 stl_734">69  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.317em;top:14.7023em;"><span class="stl_274 stl_08 stl_620">171  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:15.7123em;"><span class="stl_267 stl_08 stl_248" style="word-spacing:-0.0346em;">Total special items, discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4689em;top:15.7123em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3333em;top:15.7123em;"><span class="stl_267 stl_08 stl_397">102  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:16.7223em;"><span class="stl_264 stl_08 stl_179" style="word-spacing:-0.0301em;">Total special items, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9383em;top:16.7223em;"><span class="stl_274 stl_08 stl_734">69  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6627em;top:16.7223em;"><span class="stl_274 stl_08 stl_734">69  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:18.3273em;"><span class="stl_264 stl_08 stl_237" style="word-spacing:-0.0363em;">If special items had been recognized in operating profit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:19.1604em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.035em;">before special items, they would have been included in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:19.9935em;"><span class="stl_850 stl_08 stl_369" style="word-spacing:-0.0335em;">the following line items:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:21.0035em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">– Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3127em;top:21.0035em;"><span class="stl_267 stl_08 stl_19">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.037em;top:21.0035em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:22.0135em;"><span class="stl_267 stl_08 stl_91" style="word-spacing:-0.0423em;">– Administrative expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9433em;top:22.0135em;"><span class="stl_267 stl_08 stl_247">62  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6608em;top:22.0135em;"><span class="stl_267 stl_08 stl_734">66  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.0235em;"><span class="stl_264 stl_08 stl_132" style="word-spacing:-0.0279em;">Total special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9377em;top:23.0235em;"><span class="stl_274 stl_08 stl_734">69  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.662em;top:23.0235em;"><span class="stl_274 stl_08 stl_734">69  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:6.9754em;"><span class="stl_264 stl_08 stl_387" style="word-spacing:-0.0336em;">Remuneration of Board of Directors and Group Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:7.8085em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.037em;">The current policy for the remuneration of the Board of Directors and Executive Management was adopted in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:8.6416em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0339em;">2024 and sets out the general guidelines for the remuneration of the Group’s management. The guidelines for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:9.4748em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.036em;">the remuneration of the Board of Directors and Executive Management are available on NNIT’s website.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:11.0167em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0364em;">In addition to the disclosures provided in this note, more details on the remuneration of Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:11.8498em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">and Directors are provided in the separate Remuneration report, which is not a part of the audited financial  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:12.6829em;"><span class="stl_202 stl_08 stl_581" style="word-spacing:-0.0419em;">statements. The report is also available on NNIT’s website.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:14.2248em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0345em;">Board of Directors remuneration  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.5272em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:15.5272em;"><span class="stl_264 stl_08 stl_214">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:15.5272em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.1322em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0422em;">Ordinary board member fee  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7795em;top:17.1322em;"><span class="stl_267 stl_08 stl_209">3.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4889em;top:17.1322em;"><span class="stl_267 stl_08 stl_231">3.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.1422em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0425em;">Audit Committee  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7514em;top:18.1422em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4758em;top:18.1422em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:19.1522em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0398em;">Remuneration Committee  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7533em;top:19.1522em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4777em;top:19.1522em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.1622em;"><span class="stl_264 stl_08 stl_227" style="word-spacing:-0.0321em;">Total fee to Board of Directors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7214em;top:20.1622em;"><span class="stl_274 stl_08 stl_398">4.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5102em;top:20.1622em;"><span class="stl_274 stl_08 stl_594">4</span><span class="stl_274 stl_08 stl_842">.</span><span class="stl_274 stl_08 stl_842">1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_264 stl_08 stl_203" style="word-spacing:-0.0367em;">Group Management's remuneration and share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.0159em;top:8.0481em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.894em;top:9.235em;"><span class="stl_263 stl_08 stl_239">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7709em;top:9.985em;"><span class="stl_263 stl_08 stl_276">members  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.0628em;top:10.735em;"><span class="stl_263 stl_08 stl_493">Executive  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.9915em;top:10.735em;"><span class="stl_263 stl_08 stl_340" style="word-spacing:-0.034em;">of Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7246em;top:11.485em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.9634em;top:11.485em;"><span class="stl_263 stl_08 stl_257" style="word-spacing:0.9176em;">Management Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9153em;top:11.485em;"><span class="stl_263 stl_08 stl_419">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.724em;top:13.1487em;"><span class="stl_267 stl_08 stl_607" style="word-spacing:-0.0539em;">Base salary  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0834em;top:13.1487em;"><span class="stl_267 stl_08 stl_843">7.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4671em;top:13.1487em;z-index:177;"><span class="stl_267 stl_08 stl_844">12.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1703em;top:13.1487em;"><span class="stl_267 stl_08 stl_729">19.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.724em;top:14.1587em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0412em;">Cash Bonus (STIP and employee benefit cost)</span><sup style="top: -0.2082em;"><span class="stl_281 stl_08 stl_401" style="word-spacing:-0.0706em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7278em;top:14.1587em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4522em;top:14.1587em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1766em;top:14.1587em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:15.1687em;"><span class="stl_267 stl_08 stl_428" style="word-spacing:-0.0473em;">One off bonus  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7278em;top:15.1687em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4522em;top:15.1687em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1766em;top:15.1687em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:16.1787em;"><span class="stl_267 stl_08 stl_228" style="word-spacing:-0.0386em;">Remuneration in connection with redundancy,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:17.0118em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0399em;">resignations and release from duty to work  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7278em;top:17.0118em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4522em;top:17.0118em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1766em;top:17.0118em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:18.0218em;"><span class="stl_267 stl_08 stl_165">Pension  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0197em;top:18.0218em;"><span class="stl_267 stl_08 stl_695">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7716em;top:18.0218em;"><span class="stl_267 stl_08 stl_21">1.5  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.5191em;top:18.0218em;"><span class="stl_267 stl_08 stl_797">1.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:19.0318em;"><span class="stl_267 stl_08 stl_522">Benefits  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0197em;top:19.0318em;"><span class="stl_267 stl_08 stl_695">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7635em;top:19.0318em;"><span class="stl_267 stl_08 stl_209">0.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4903em;top:19.0318em;"><span class="stl_267 stl_08 stl_419">1.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:20.0418em;"><span class="stl_267 stl_08 stl_259" style="word-spacing:-0.0436em;">Share-based incentives</span><sup style="top: -0.2094em;"><span class="stl_281 stl_08 stl_846" style="word-spacing:-0.0748em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0443em;top:20.0405em;"><span class="stl_267 stl_08 stl_85">0.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7374em;top:20.0405em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4887em;top:20.0405em;"><span class="stl_267 stl_08 stl_209">0.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:21.0505em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0328em;">Group Management total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0643em;top:21.0505em;"><span class="stl_274 stl_08 stl_845">9.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3818em;top:21.0505em;"><span class="stl_274 stl_08 stl_168">14.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.0555em;top:21.0505em;"><span class="stl_274 stl_08 stl_744">23.8  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.0176em;top:22.779em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8939em;top:23.9659em;"><span class="stl_263 stl_08 stl_239">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7708em;top:24.7159em;"><span class="stl_263 stl_08 stl_276">members  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.0626em;top:25.4659em;"><span class="stl_263 stl_08 stl_493">Executive  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.9914em;top:25.4659em;"><span class="stl_263 stl_08 stl_340" style="word-spacing:-0.034em;">of Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7245em;top:26.2159em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.9633em;top:26.2159em;"><span class="stl_263 stl_08 stl_257" style="word-spacing:0.9176em;">Management Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9151em;top:26.2159em;"><span class="stl_263 stl_08 stl_419">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7239em;top:27.8797em;"><span class="stl_267 stl_08 stl_607" style="word-spacing:-0.0539em;">Base salary  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0739em;top:27.8797em;z-index:503;"><span class="stl_267 stl_08 stl_272">7</span><span class="stl_267 stl_08 stl_521">.</span><span class="stl_267 stl_08 stl_521">4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4189em;top:27.8797em;"><span class="stl_267 stl_08 stl_694">13.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1514em;top:27.8797em;"><span class="stl_267 stl_08 stl_359">21.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7239em;top:28.8897em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0412em;">Cash Bonus (STIP and employee benefit cost)</span><sup style="top: -0.2082em;"><span class="stl_281 stl_08 stl_401" style="word-spacing:-0.0707em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0653em;top:28.8896em;z-index:553;"><span class="stl_267 stl_08 stl_713">4.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7897em;top:28.8896em;z-index:555;"><span class="stl_267 stl_08 stl_272">7</span><span class="stl_267 stl_08 stl_847">.</span><span class="stl_267 stl_08 stl_847">3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1835em;top:28.8896em;"><span class="stl_267 stl_08 stl_848">11.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:29.8996em;"><span class="stl_267 stl_08 stl_428" style="word-spacing:-0.0473em;">One off bonus  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0147em;top:29.8996em;"><span class="stl_267 stl_08 stl_349">3.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.746em;top:29.8996em;"><span class="stl_267 stl_08 stl_254">6.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4772em;top:29.8996em;"><span class="stl_267 stl_08 stl_275">9.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7234em;top:30.9096em;"><span class="stl_267 stl_08 stl_228" style="word-spacing:-0.0386em;">Remuneration in connection with redundancy,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7234em;top:31.7428em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0399em;">resignations and release from duty to work  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7272em;top:31.7428em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4678em;top:31.7428em;"><span class="stl_267 stl_08 stl_849">11.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1922em;top:31.7428em;"><span class="stl_267 stl_08 stl_849">11.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:32.7528em;"><span class="stl_267 stl_08 stl_165">Pension  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0197em;top:32.7528em;"><span class="stl_267 stl_08 stl_695">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7841em;top:32.7528em;"><span class="stl_267 stl_08 stl_682">1.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4747em;top:32.7528em;"><span class="stl_267 stl_08 stl_248">2.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:33.7628em;"><span class="stl_267 stl_08 stl_278">Benefits  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0197em;top:33.7628em;"><span class="stl_267 stl_08 stl_695">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.766em;top:33.7628em;"><span class="stl_267 stl_08 stl_419">1.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.5235em;top:33.7628em;"><span class="stl_267 stl_08 stl_770">1.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:34.7728em;"><span class="stl_267 stl_08 stl_259" style="word-spacing:-0.0436em;">Share-based incentives</span><sup style="top: -0.2094em;"><span class="stl_281 stl_08 stl_846" style="word-spacing:-0.0748em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.728em;top:34.7715em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7355em;top:34.7715em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4599em;top:34.7715em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:35.7815em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0328em;">Group Management total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.6643em;top:35.7815em;"><span class="stl_274 stl_08 stl_33">15.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4037em;top:35.7815em;"><span class="stl_274 stl_08 stl_273">41.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1237em;top:35.7815em;"><span class="stl_274 stl_08 stl_375">57.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:37.2763em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_351" style="word-spacing:-0.05em;">ꢀEmployee benefit cost (contingent consideration agreement) related to the acquisition of Excellis Health Solutions. Following a decision  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.1968em;top:37.8598em;"><span class="stl_350 stl_08 stl_349" style="word-spacing:-0.0528em;">by the Danish Business Authority concerning accounting treatment of Employee benefit cost (earn-out payment) related to acquisitions,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.1968em;top:38.4433em;"><span class="stl_350 stl_08 stl_473" style="word-spacing:-0.0536em;">these payments are to be considered and expensed as salary.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:39.0263em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">2</span></sup><span class="stl_347 stl_08 stl_92" style="word-spacing:-0.0499em;">ꢀIncludes the annually recognized expense on granted share based and launch incentive programmes, which are not released.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:7.0661em;"><span class="stl_264 stl_08 stl_188" style="word-spacing:-0.0372em;">Short-term incentive program (STIP)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:7.8992em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0404em;">Group Management and certain other employees participate in a STIP program, which entitles each participant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:8.7323em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">to receive an annual performance-based cash bonus, linked to the achievement of a number of predefined  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.5655em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0417em;">functional and individual business targets. Performance is measured for each financial year and the cash-based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.3986em;z-index:1540;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.0331em;">incentives, if any, are paid after announcement of the annual report for the subsequent year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.0655em;"><span class="stl_264 stl_08 stl_186" style="word-spacing:-0.0318em;">Long-term incentive program (LTIP)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.8986em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0343em;">LTIP is designed to promote the collective performance of Group Management and Vice Presidents to align the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.7317em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">interests of executives and shareholders.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.2736em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">The program is based on revenue and earnings, before interest and tax compared to the targeted levels.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.1067em;"><span class="stl_202 stl_08 stl_34" style="word-spacing:-0.0323em;">Shares are recognised over the four-year vesting period.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.6486em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0362em;">NNIT's Board of Directors approves the financial targets for the coming year, ensuring that the short-term  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.4817em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">targets are aligned with NNIT's long-term targets and strategy.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.0236em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0382em;">The allocation under LTIP for the CEO cannot exceed twelve months base salary, and the allocation for the CFO  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.8567em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0362em;">cannot exceed nine months base salary. The allocation for the other members of Group Management cannot  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:21.6898em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0373em;">exceed nine moths base salary.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.2317em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0352em;">The shares allocated to the members of Group Management that are fully vested, will be released to the indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:24.0648em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.038em;">vidual participants subsequent to the approval of the Annual Report 2024 by the Board of Directors.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:25.6067em;"><span class="stl_202 stl_08 stl_73" style="word-spacing:-0.0325em;">Based on the share price at the end of 2024, the value of the released shares is as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.6595em;top:27.0325em;"><span class="stl_263 stl_08 stl_266">Number  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.2764em;top:27.0325em;"><span class="stl_263 stl_08 stl_424">Market  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:27.7825em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.3933em;top:27.7825em;"><span class="stl_263 stl_08 stl_535" style="word-spacing:-0.0329em;">of shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7945em;top:27.7825em;"><span class="stl_263 stl_08 stl_120">value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:29.4462em;"><span class="stl_264 stl_08 stl_532" style="word-spacing:-0.0412em;">Values at December 31, 2024 of shares to be released February 20, 2025  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:30.4562em;"><span class="stl_267 stl_08 stl_387" style="word-spacing:-0.0343em;">Pär Fors</span><sup style="top: -0.2082em;"><span class="stl_281 stl_08 stl_476" style="word-spacing:-0.0588em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5462em;top:30.4562em;"><span class="stl_267 stl_08 stl_198">1,942  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4775em;top:30.4562em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:31.4662em;"><span class="stl_267 stl_08 stl_270" style="word-spacing:-0.0442em;">Carsten Ringius  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.94em;top:31.4662em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1919em;top:31.4662em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:32.4762em;"><span class="stl_264 stl_08 stl_249" style="word-spacing:-0.0345em;">Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4644em;top:32.4762em;"><span class="stl_274 stl_08 stl_299">1,942  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4544em;top:32.4762em;"><span class="stl_274 stl_08 stl_310">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:33.7862em;"><span class="stl_264 stl_08 stl_534" style="word-spacing:-0.0359em;">Other members of Group Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5031em;top:33.7862em;"><span class="stl_274 stl_08 stl_174">1,765  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4544em;top:33.7862em;"><span class="stl_274 stl_08 stl_310">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:35.0962em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0328em;">Group Management total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4762em;top:35.0962em;"><span class="stl_274 stl_08 stl_270">3,707  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4625em;top:35.0962em;"><span class="stl_274 stl_08 stl_710">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:36.5901em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_591" style="word-spacing:-0.0557em;">ꢀWill be settled in cash.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:38.1231em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0375em;">Please refer to note 5.1 for an overview of outstanding RSU’s.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3825em;"><span class="stl_527 stl_08 stl_29" style="word-spacing:0.2348em;">5.1 Long-term</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:10.310em;top:10.3825em;"><span class="stl_527 stl_08 stl_144">incentives  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.8218em;"><span class="stl_264 stl_08 stl_408" style="word-spacing:-0.0393em;">Long-term share-based incentive program  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.655em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0357em;">Group Management and the Vice Presidents are included in a long-term share-based incentive program.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.4881em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0344em;">For more information regarding the long-term share-based incentive program, please refer to note 2.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.3212em;"><span class="stl_202 stl_08 stl_309" style="word-spacing:-0.0433em;">'Employee costs'  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.9881em;"><span class="stl_264 stl_08 stl_231" style="word-spacing:-0.0368em;">Share-based payments are recognized at the following amounts:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.5363em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:17.5363em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:17.5363em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.2em;"><span class="stl_267 stl_08 stl_249" style="word-spacing:-0.0345em;">Long-term incentive program (LTIP) in NNIT shares - share based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:19.2em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:19.2em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.21em;"><span class="stl_264 stl_08 stl_531" style="word-spacing:-0.034em;">Incentive program charged to income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2969em;top:20.21em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0213em;top:20.21em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.815em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.0348em;">Recognized in the income statement:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.825em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:22.825em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:22.825em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.835em;"><span class="stl_267 stl_08 stl_200">Administration  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:23.835em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:23.835em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.845em;"><span class="stl_264 stl_08 stl_157">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2969em;top:24.845em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0213em;top:24.845em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.4563em;"><span class="stl_202 stl_08 stl_186" style="word-spacing:-0.0317em;">Shares are recognized over the four-year vesting period at the market value at the grant date. Value adjust-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.2894em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">ments are recognized as financial items.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.8377em;"><span class="stl_264 stl_08 stl_247" style="word-spacing:-0.0375em;">Outstanding restricted stock units (in NNIT shares):  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.3855em;"><span class="stl_263 stl_08 stl_299" style="word-spacing:-0.0531em;">Number '000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:13.3855em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:13.3855em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.0493em;"><span class="stl_267 stl_08 stl_532" style="word-spacing:-0.0412em;">Outstanding at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5702em;top:15.0493em;"><span class="stl_267 stl_08 stl_305">209  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3558em;top:15.0493em;"><span class="stl_267 stl_08 stl_828">141  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.0593em;"><span class="stl_267 stl_08 stl_257" style="word-spacing:-0.0329em;">Long-term incentive program (LTIP)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:16.0593em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3352em;top:16.0593em;"><span class="stl_267 stl_08 stl_466">125  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.0693em;"><span class="stl_267 stl_08 stl_67" style="word-spacing:-0.0293em;">Transfer to employees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7308em;top:17.0693em;"><span class="stl_267 stl_08 stl_230">(25)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4995em;top:17.0693em;"><span class="stl_267 stl_08 stl_376">(31)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.0793em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0399em;">Committed to employees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:18.0793em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.847em;top:18.0793em;"><span class="stl_267 stl_08 stl_331">(9)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:19.0893em;"><span class="stl_267 stl_08 stl_309" style="word-spacing:-0.0433em;">Forfeiture during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7308em;top:19.0893em;"><span class="stl_267 stl_08 stl_230">(78)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5033em;top:19.0893em;"><span class="stl_267 stl_08 stl_680">(17)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.0993em;"><span class="stl_264 stl_08 stl_226" style="word-spacing:-0.0362em;">Outstanding at the end of the year (in NNIT shares)</span><sup style="top: -0.2093em;"><span class="stl_281 stl_08 stl_763" style="word-spacing:-0.0621em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5667em;top:20.0981em;"><span class="stl_274 stl_08 stl_204">106  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2729em;top:20.0981em;"><span class="stl_274 stl_08 stl_594">209  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7404em;top:21.7031em;"><span class="stl_267 stl_08 stl_245" style="word-spacing:-0.0353em;">Fair value of the RSU's end of period (DKK million)</span><sup style="top: -0.2082em;"><span class="stl_281 stl_08 stl_653" style="word-spacing:-0.0605em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9532em;top:21.703em;"><span class="stl_274 stl_08 stl_462">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6801em;top:21.703em;"><span class="stl_274 stl_08 stl_192">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.1981em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_523" style="word-spacing:-0.048em;">ꢀThe share price as of December 31, 2024 has been used when calculating the fair value of the RSU’s.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.7814em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">2</span></sup><span class="stl_347 stl_08 stl_268" style="word-spacing:-0.0441em;">ꢀKey management has been in total granted 20,487 shares with a fair value of DKK 1.9 million as of December 31, 2024.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:6.9716em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.2334em;top:6.9716em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9896em;top:6.9716em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:8.6122em;"><span class="stl_264 stl_08 stl_230" style="word-spacing:-0.0409em;">Net sales  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:9.5985em;"><span class="stl_267 stl_08 stl_411" style="word-spacing:-0.0351em;">Novo Nordisk Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.6871em;top:9.5985em;"><span class="stl_267 stl_08 stl_878">212  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4008em;top:9.5985em;"><span class="stl_267 stl_08 stl_291">178  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:10.5847em;"><span class="stl_267 stl_08 stl_332" style="word-spacing:-0.0476em;">Novo Holdings A/S  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.5283em;top:10.5847em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2527em;top:10.5847em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:11.571em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0372em;">Novo Nordisk Foundation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.5283em;top:11.571em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0965em;top:11.571em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:12.5572em;"><span class="stl_264 stl_08 stl_116" style="word-spacing:-0.0264em;">Total Novo Nordisk Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.6527em;top:12.5572em;"><span class="stl_274 stl_08 stl_366">212  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3577em;top:12.5572em;"><span class="stl_274 stl_08 stl_256">180  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:13.5435em;"><span class="stl_267 stl_08 stl_245" style="word-spacing:-0.0344em;">Novonesis Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3721em;top:13.5435em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0965em;top:13.5435em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:14.5297em;"><span class="stl_264 stl_08 stl_51" style="word-spacing:-0.0212em;">Total Novo Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.649em;top:14.5297em;"><span class="stl_274 stl_08 stl_86">217  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3508em;top:14.5297em;"><span class="stl_274 stl_08 stl_520">184  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:16.0872em;"><span class="stl_264 stl_08 stl_181" style="word-spacing:-0.0272em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:17.0735em;"><span class="stl_267 stl_08 stl_411" style="word-spacing:-0.0351em;">Novo Nordisk Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9965em;top:17.0735em;"><span class="stl_267 stl_08 stl_734">66  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.7221em;top:17.0735em;"><span class="stl_267 stl_08 stl_518">63  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:18.0597em;"><span class="stl_267 stl_08 stl_245" style="word-spacing:-0.0344em;">Novonesis Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3721em;top:18.0597em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0965em;top:18.0597em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:19.046em;"><span class="stl_267 stl_08 stl_478" style="word-spacing:-0.0464em;">Novo Holding A/S  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.5283em;top:19.046em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2527em;top:19.046em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:20.0322em;"><span class="stl_264 stl_08 stl_157">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9996em;top:20.0322em;"><span class="stl_274 stl_08 stl_520">67  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.7065em;top:20.0322em;"><span class="stl_274 stl_08 stl_615">64  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:21.5897em;"><span class="stl_264 stl_08 stl_237" style="word-spacing:-0.0354em;">Work in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:22.576em;"><span class="stl_267 stl_08 stl_411" style="word-spacing:-0.0351em;">Novo Nordisk Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3721em;top:22.576em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0965em;top:22.576em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:23.5622em;"><span class="stl_264 stl_08 stl_157">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3727em;top:23.5622em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0971em;top:23.5622em;"><span class="stl_274 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:25.1197em;"><span class="stl_264 stl_08 stl_201" style="word-spacing:-0.0359em;">Liabilities from related parties  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:26.106em;"><span class="stl_267 stl_08 stl_411" style="word-spacing:-0.0351em;">Novo Nordisk Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.5283em;top:26.106em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0965em;top:26.106em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:27.0922em;"><span class="stl_264 stl_08 stl_201" style="word-spacing:-0.0359em;">Liabilities from related parties  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.5283em;top:27.0922em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0971em;top:27.0922em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:28.6497em;"><span class="stl_264 stl_08 stl_188" style="word-spacing:-0.0369em;">Prepayments from related parties  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:29.636em;"><span class="stl_267 stl_08 stl_411" style="word-spacing:-0.0351em;">Novo Nordisk Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.5283em;top:29.636em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.7671em;top:29.636em;"><span class="stl_267 stl_08 stl_818">17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:30.6222em;"><span class="stl_264 stl_08 stl_157">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.5283em;top:30.6222em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.7458em;top:30.6222em;"><span class="stl_274 stl_08 stl_360">17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:32.1797em;"><span class="stl_264 stl_08 stl_532">Dividends  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:33.166em;"><span class="stl_267 stl_08 stl_332" style="word-spacing:-0.0476em;">Novo Holdings A/S  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.5283em;top:33.166em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2527em;top:33.166em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:34.1522em;"><span class="stl_267 stl_08 stl_509" style="word-spacing:-0.0463em;">Novo Nordisk A/S  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.5283em;top:34.1522em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2527em;top:34.1522em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.8002em;top:35.1385em;"><span class="stl_264 stl_08 stl_157">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.5283em;top:35.1385em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2527em;top:35.1385em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.8378em;"><span class="stl_527 stl_08 stl_112" style="word-spacing:0.1469em;">5.6 Related</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:9.244em;top:25.8378em;"><span class="stl_527 stl_08 stl_148" style="word-spacing:-0.0244em;">party transactions and ownership  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.4435em;"><span class="stl_264 stl_08 stl_408" style="word-spacing:-0.0395em;">Related party transactions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.2766em;"><span class="stl_774 stl_08 stl_235" style="word-spacing:-0.0415em;">NNIT has engaged in related party transactions regarding ordinary business with Novo Holdings A/S, the Novo  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.1097em;"><span class="stl_774 stl_08 stl_269" style="word-spacing:-0.032em;">Nordisk Group, the Novonesis Group and Xellia Pharmaceuticals Group. Further, NNIT has sold a Vendor Loan  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.9428em;"><span class="stl_774 stl_08 stl_257" style="word-spacing:-0.0333em;">Note to Novo Holdings A/S at book value of DKK 221 million. The sold Vendor Loan Note was issued in connec</span><span class="stl_202 stl_08 stl_257" style="word-spacing:-0.0333em;">-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:34.7759em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0395em;">tion with the divestment of Aeven. There have been no transactions other than the payment of remuneration  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:35.6091em;"><span class="stl_774 stl_08 stl_247" style="word-spacing:-0.038em;">with the Group Management of NNIT A/S and the NNIT Board of Directors. For information on remuneration to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.4422em;"><span class="stl_202 stl_08 stl_67" style="word-spacing:-0.0298em;">the Group Management of NNIT, please refer to note 2.2 'Employee costs'.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:38.1091em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.036em;">The figures for related parties for 2023 are for the continuing business.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.2772em;"><span class="stl_264 stl_08 stl_320">Ownership  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.1103em;z-index:1020;"><span class="stl_774 stl_08 stl_529" style="word-spacing:-0.0377em;">NNIT A/S is controlled by </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:11.846em;top:28.1103em;z-index:1020;"><span class="stl_774 stl_08 stl_529" style="word-spacing:-0.0377em;">Novo Holdings A/S</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.373em;top:28.1103em;z-index:1020;"><span class="stl_774 stl_08 stl_529" style="word-spacing:-0.0377em;">, of which the </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.202em;top:28.1103em;z-index:1020;"><span class="stl_774 stl_08 stl_529" style="word-spacing:-0.0377em;">Novo Nordisk Foundation</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.738em;top:28.1103em;z-index:1020;"><span class="stl_774 stl_08 stl_529" style="word-spacing:-0.0377em;">is the ultimate owner.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.9435em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0362em;">The consolidated financial statements of the ultimate parent company, the Novo Nordisk Foundation, may be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.7766em;"><span class="stl_202 stl_08 stl_215" style="word-spacing:-0.0316em;">obtained from the Novo Nordisk Foundation, Tuborg Havnevej 19, DK-2900 Hellerup, Denmark.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_264 stl_08 stl_387" style="word-spacing:-0.0335em;">Companies in the NNIT Group:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.2345em;top:7.8119em;"><span class="stl_264 stl_08 stl_364" style="word-spacing:-0.0079em;">Year of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.7589em;top:7.8119em;"><span class="stl_264 stl_08 stl_411">Percentage  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7651em;top:8.5619em;"><span class="stl_264 stl_08 stl_369">incorporation/  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3001em;top:8.5619em;"><span class="stl_264 stl_08 stl_227">Share  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.457em;top:8.5619em;"><span class="stl_264 stl_08 stl_531" style="word-spacing:-0.0345em;">of shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.6639em;top:9.3119em;"><span class="stl_264 stl_08 stl_230">Country  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.8951em;top:9.3119em;"><span class="stl_264 stl_08 stl_535">acquisition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9345em;top:9.3119em;"><span class="stl_264 stl_08 stl_248">capital  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.2339em;top:9.3119em;"><span class="stl_264 stl_08 stl_226">owned  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7245em;top:10.9756em;"><span class="stl_267 stl_08 stl_248" style="word-spacing:-0.035em;">NNIT (Tianjin Technology Co. Ltd.)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.5489em;top:10.9756em;"><span class="stl_267 stl_08 stl_411">China  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.9858em;top:10.9756em;"><span class="stl_267 stl_08 stl_268">2007  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.4026em;top:10.9756em;"><span class="stl_267 stl_08 stl_349" style="word-spacing:-0.053em;">CNY 10,804,229  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2958em;top:10.9756em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7251em;top:11.9856em;"><span class="stl_267 stl_08 stl_229" style="word-spacing:-0.0405em;">NNIT Switzerland AG  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.7445em;top:11.9856em;"><span class="stl_267 stl_08 stl_530">Switzerland  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0345em;top:11.9856em;"><span class="stl_267 stl_08 stl_587">2010  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.372em;top:11.9856em;"><span class="stl_267 stl_08 stl_428" style="word-spacing:-0.0465em;">CHF 100,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2951em;top:11.9856em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7245em;top:12.9956em;"><span class="stl_267 stl_08 stl_532" style="word-spacing:-0.0407em;">NNIT Germany GmbH  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.4945em;top:12.9956em;"><span class="stl_267 stl_08 stl_229">Germany  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0583em;top:12.9956em;"><span class="stl_267 stl_08 stl_556">2011  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.717em;top:12.9956em;"><span class="stl_267 stl_08 stl_518" style="word-spacing:-0.0534em;">EUR 25,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2951em;top:12.9956em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7245em;top:14.0056em;"><span class="stl_267 stl_08 stl_254" style="word-spacing:-0.0402em;">NNIT Inc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.037em;top:14.0056em;"><span class="stl_267 stl_08 stl_252">USA  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0589em;top:14.0056em;"><span class="stl_267 stl_08 stl_556">2011  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.8008em;top:14.0056em;"><span class="stl_267 stl_08 stl_269" style="word-spacing:-0.032em;">USD 3,251,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2958em;top:14.0056em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7251em;top:15.0156em;"><span class="stl_267 stl_08 stl_10" style="word-spacing:-0.02em;">NNIT UK Ltd.</span><sup style="top: -0.209em;"><span class="stl_281 stl_08 stl_531" style="word-spacing:-0.0343em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.4093em;top:15.0147em;"><span class="stl_267 stl_08 stl_529">UK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.043em;top:15.0147em;"><span class="stl_267 stl_08 stl_360">2015  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6587em;top:15.0147em;"><span class="stl_267 stl_08 stl_855" style="word-spacing:-0.0589em;">GBP 50,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2949em;top:15.0147em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:16.0247em;"><span class="stl_267 stl_08 stl_740" style="word-spacing:-0.0734em;">SCALES A/S  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.483em;top:16.0247em;"><span class="stl_267 stl_08 stl_121">Denmark  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0455em;top:16.0247em;"><span class="stl_267 stl_08 stl_452">2017  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.2812em;top:16.0247em;"><span class="stl_267 stl_08 stl_609" style="word-spacing:-0.0656em;">DKK 600,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2955em;top:16.0247em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7249em;top:17.0347em;"><span class="stl_267 stl_08 stl_231" style="word-spacing:-0.0364em;">NNIT Ireland Ltd  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.1437em;top:17.0347em;"><span class="stl_267 stl_08 stl_340">Ireland  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0387em;top:17.0347em;"><span class="stl_267 stl_08 stl_798">2018  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6743em;top:17.0347em;"><span class="stl_267 stl_08 stl_388" style="word-spacing:-0.0231em;">EUR 100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2955em;top:17.0347em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7249em;top:18.0447em;"><span class="stl_267 stl_08 stl_58" style="word-spacing:-0.0282em;">NNIT Poland Sp. Z o.o.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.183em;top:18.0447em;"><span class="stl_267 stl_08 stl_186">Poland  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0437em;top:18.0447em;"><span class="stl_267 stl_08 stl_360">2019  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.1049em;top:18.0447em;"><span class="stl_267 stl_08 stl_516" style="word-spacing:-0.0562em;">PLN 5,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2955em;top:18.0447em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7249em;top:19.0547em;"><span class="stl_267 stl_08 stl_234" style="word-spacing:-0.0376em;">NNIT Singapore Holdings Pte. Ltd.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2355em;top:19.0547em;"><span class="stl_267 stl_08 stl_34">Singapore  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0437em;top:19.0547em;"><span class="stl_267 stl_08 stl_360">2019  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.2705em;top:19.0547em;"><span class="stl_267 stl_08 stl_442" style="word-spacing:-0.0568em;">SGD 546,278  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2955em;top:19.0547em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7249em;top:20.0647em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0374em;">NNIT Singapore Pte. Ltd.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2355em;top:20.0647em;"><span class="stl_267 stl_08 stl_34">Singapore  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0437em;top:20.0647em;"><span class="stl_267 stl_08 stl_360">2019  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6749em;top:20.0647em;"><span class="stl_267 stl_08 stl_259" style="word-spacing:-0.0437em;">SGD 66,700  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2962em;top:20.0647em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7255em;top:21.0747em;"><span class="stl_267 stl_08 stl_255" style="word-spacing:-0.0365em;">Excellis Health Solutions LLC  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.038em;top:21.0747em;"><span class="stl_267 stl_08 stl_252">USA  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0068em;top:21.0747em;"><span class="stl_267 stl_08 stl_174">2020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.2818em;top:21.0747em;"><span class="stl_267 stl_08 stl_412" style="word-spacing:-0.0521em;">USD 250,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2968em;top:21.0747em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7262em;top:22.0847em;"><span class="stl_267 stl_08 stl_245" style="word-spacing:-0.0349em;">Excellis Europe Ltd.</span><sup style="top: -0.2102em;"><span class="stl_281 stl_08 stl_782" style="word-spacing:-0.0599em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.4095em;top:22.0827em;"><span class="stl_267 stl_08 stl_529">UK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0057em;top:22.0827em;"><span class="stl_267 stl_08 stl_174">2020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6157em;top:22.0827em;"><span class="stl_267 stl_08 stl_215" style="word-spacing:-0.0315em;">GBP 100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2957em;top:22.0827em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7251em;top:23.0927em;"><span class="stl_267 stl_08 stl_492" style="word-spacing:-0.0339em;">SL Controls Ltd.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.1439em;top:23.0927em;"><span class="stl_267 stl_08 stl_340">Ireland  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0158em;top:23.0927em;"><span class="stl_267 stl_08 stl_209">2021  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6751em;top:23.0927em;"><span class="stl_267 stl_08 stl_388" style="word-spacing:-0.0231em;">EUR 100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2964em;top:23.0927em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:24.1027em;"><span class="stl_267 stl_08 stl_201" style="word-spacing:-0.036em;">SL Controls USA Inc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.0383em;top:24.1027em;"><span class="stl_267 stl_08 stl_252">USA  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0164em;top:24.1027em;"><span class="stl_267 stl_08 stl_209">2021  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6526em;top:24.1027em;"><span class="stl_267 stl_08 stl_607" style="word-spacing:-0.0537em;">USD 60,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.297em;top:24.1027em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7264em;top:25.1127em;"><span class="stl_267 stl_08 stl_492" style="word-spacing:-0.0334em;">NNIT Italy S.r.l  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.9751em;top:25.1127em;"><span class="stl_267 stl_08 stl_591">Italy  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.9951em;top:25.1127em;"><span class="stl_267 stl_08 stl_266">2022  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7089em;top:25.1127em;"><span class="stl_267 stl_08 stl_582" style="word-spacing:-0.0582em;">EUR 40,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.297em;top:25.1127em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7264em;top:26.1226em;"><span class="stl_267 stl_08 stl_492" style="word-spacing:-0.033em;">NNIT España Consultoria Tecnologica  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7264em;top:26.9558em;"><span class="stl_267 stl_08 stl_321" style="word-spacing:-0.0394em;">y de la informaction siciedad limitada  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.6014em;top:26.9558em;"><span class="stl_267 stl_08 stl_201">Spain  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.9958em;top:26.9558em;"><span class="stl_267 stl_08 stl_266">2022  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7195em;top:26.9558em;"><span class="stl_267 stl_08 stl_318" style="word-spacing:-0.0537em;">EUR 50,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2976em;top:26.9558em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.727em;top:27.9658em;"><span class="stl_267 stl_08 stl_58" style="word-spacing:-0.0281em;">NNIT Czech Republic 2022 s.r.o.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.7564em;top:27.9658em;"><span class="stl_267 stl_08 stl_201" style="word-spacing:-0.0357em;">Czech Republic  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.9951em;top:27.9658em;"><span class="stl_267 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.387em;top:27.9658em;"><span class="stl_267 stl_08 stl_501" style="word-spacing:-0.0594em;">CZK 450,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2976em;top:27.9658em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.727em;top:28.9758em;"><span class="stl_267 stl_08 stl_91" style="word-spacing:-0.0424em;">NNIT Digital &amp; Life Sciences  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.727em;top:29.8089em;"><span class="stl_267 stl_08 stl_72" style="word-spacing:-0.0337em;">Philippines Inc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.9658em;top:29.8089em;"><span class="stl_267 stl_08 stl_257">Philippines  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.9951em;top:29.8089em;"><span class="stl_267 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.4883em;top:29.8089em;"><span class="stl_267 stl_08 stl_163" style="word-spacing:-0.0285em;">PHP 11,200,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2983em;top:29.8089em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.3026em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_90" style="word-spacing:-0.0513em;">ꢀNNIT UK Limited, registration number 09399926, is exempt from the UK requirements relating to the audit of financial statements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.1968em;top:31.8861em;"><span class="stl_350 stl_08 stl_607" style="word-spacing:-0.0537em;">under section 479A of the Companies Act 2006.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.4693em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">2</span></sup><span class="stl_347 stl_08 stl_239" style="word-spacing:-0.0489em;">ꢀExcellis Europe Ltd., registration number 09184253, is exempt from the UK requirements relating to the audit of financial statements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.1968em;top:33.0528em;"><span class="stl_350 stl_08 stl_607" style="word-spacing:-0.0537em;">under section 479A of the Companies Act 2006.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:6.9754em;"><span class="stl_264 stl_08 stl_387" style="word-spacing:-0.0336em;">Remuneration of Board of Directors and Group Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:7.8085em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.037em;">The current policy for the remuneration of the Board of Directors and Executive Management was adopted in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:8.6416em;"><span class="stl_202 stl_08 stl_387" style="word-spacing:-0.0339em;">2024 and sets out the general guidelines for the remuneration of the Group’s management. The guidelines for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:9.4748em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.036em;">the remuneration of the Board of Directors and Executive Management are available on NNIT’s website.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:11.0167em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0364em;">In addition to the disclosures provided in this note, more details on the remuneration of Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:11.8498em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">and Directors are provided in the separate Remuneration report, which is not a part of the audited financial  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:12.6829em;"><span class="stl_202 stl_08 stl_581" style="word-spacing:-0.0419em;">statements. The report is also available on NNIT’s website.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:14.2248em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0345em;">Board of Directors remuneration  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.5272em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:15.5272em;"><span class="stl_264 stl_08 stl_214">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:15.5272em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.1322em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0422em;">Ordinary board member fee  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7795em;top:17.1322em;"><span class="stl_267 stl_08 stl_209">3.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4889em;top:17.1322em;"><span class="stl_267 stl_08 stl_231">3.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.1422em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0425em;">Audit Committee  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7514em;top:18.1422em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4758em;top:18.1422em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:19.1522em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0398em;">Remuneration Committee  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7533em;top:19.1522em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4777em;top:19.1522em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.1622em;"><span class="stl_264 stl_08 stl_227" style="word-spacing:-0.0321em;">Total fee to Board of Directors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7214em;top:20.1622em;"><span class="stl_274 stl_08 stl_398">4.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5102em;top:20.1622em;"><span class="stl_274 stl_08 stl_594">4</span><span class="stl_274 stl_08 stl_842">.</span><span class="stl_274 stl_08 stl_842">1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_264 stl_08 stl_203" style="word-spacing:-0.0367em;">Group Management's remuneration and share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.0159em;top:8.0481em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.894em;top:9.235em;"><span class="stl_263 stl_08 stl_239">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7709em;top:9.985em;"><span class="stl_263 stl_08 stl_276">members  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.0628em;top:10.735em;"><span class="stl_263 stl_08 stl_493">Executive  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.9915em;top:10.735em;"><span class="stl_263 stl_08 stl_340" style="word-spacing:-0.034em;">of Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7246em;top:11.485em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.9634em;top:11.485em;"><span class="stl_263 stl_08 stl_257" style="word-spacing:0.9176em;">Management Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9153em;top:11.485em;"><span class="stl_263 stl_08 stl_419">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.724em;top:13.1487em;"><span class="stl_267 stl_08 stl_607" style="word-spacing:-0.0539em;">Base salary  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0834em;top:13.1487em;"><span class="stl_267 stl_08 stl_843">7.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4671em;top:13.1487em;z-index:177;"><span class="stl_267 stl_08 stl_844">12.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1703em;top:13.1487em;"><span class="stl_267 stl_08 stl_729">19.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.724em;top:14.1587em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0412em;">Cash Bonus (STIP and employee benefit cost)</span><sup style="top: -0.2082em;"><span class="stl_281 stl_08 stl_401" style="word-spacing:-0.0706em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7278em;top:14.1587em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4522em;top:14.1587em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1766em;top:14.1587em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:15.1687em;"><span class="stl_267 stl_08 stl_428" style="word-spacing:-0.0473em;">One off bonus  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7278em;top:15.1687em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4522em;top:15.1687em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1766em;top:15.1687em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:16.1787em;"><span class="stl_267 stl_08 stl_228" style="word-spacing:-0.0386em;">Remuneration in connection with redundancy,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:17.0118em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0399em;">resignations and release from duty to work  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7278em;top:17.0118em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4522em;top:17.0118em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1766em;top:17.0118em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:18.0218em;"><span class="stl_267 stl_08 stl_165">Pension  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0197em;top:18.0218em;"><span class="stl_267 stl_08 stl_695">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7716em;top:18.0218em;"><span class="stl_267 stl_08 stl_21">1.5  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.5191em;top:18.0218em;"><span class="stl_267 stl_08 stl_797">1.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:19.0318em;"><span class="stl_267 stl_08 stl_522">Benefits  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0197em;top:19.0318em;"><span class="stl_267 stl_08 stl_695">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7635em;top:19.0318em;"><span class="stl_267 stl_08 stl_209">0.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4903em;top:19.0318em;"><span class="stl_267 stl_08 stl_419">1.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:20.0418em;"><span class="stl_267 stl_08 stl_259" style="word-spacing:-0.0436em;">Share-based incentives</span><sup style="top: -0.2094em;"><span class="stl_281 stl_08 stl_846" style="word-spacing:-0.0748em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0443em;top:20.0405em;"><span class="stl_267 stl_08 stl_85">0.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7374em;top:20.0405em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4887em;top:20.0405em;"><span class="stl_267 stl_08 stl_209">0.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:21.0505em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0328em;">Group Management total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0643em;top:21.0505em;"><span class="stl_274 stl_08 stl_845">9.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3818em;top:21.0505em;"><span class="stl_274 stl_08 stl_168">14.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.0555em;top:21.0505em;"><span class="stl_274 stl_08 stl_744">23.8  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.0176em;top:22.779em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8939em;top:23.9659em;"><span class="stl_263 stl_08 stl_239">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7708em;top:24.7159em;"><span class="stl_263 stl_08 stl_276">members  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.0626em;top:25.4659em;"><span class="stl_263 stl_08 stl_493">Executive  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.9914em;top:25.4659em;"><span class="stl_263 stl_08 stl_340" style="word-spacing:-0.034em;">of Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7245em;top:26.2159em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.9633em;top:26.2159em;"><span class="stl_263 stl_08 stl_257" style="word-spacing:0.9176em;">Management Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9151em;top:26.2159em;"><span class="stl_263 stl_08 stl_419">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7239em;top:27.8797em;"><span class="stl_267 stl_08 stl_607" style="word-spacing:-0.0539em;">Base salary  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0739em;top:27.8797em;z-index:503;"><span class="stl_267 stl_08 stl_272">7</span><span class="stl_267 stl_08 stl_521">.</span><span class="stl_267 stl_08 stl_521">4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4189em;top:27.8797em;"><span class="stl_267 stl_08 stl_694">13.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1514em;top:27.8797em;"><span class="stl_267 stl_08 stl_359">21.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7239em;top:28.8897em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0412em;">Cash Bonus (STIP and employee benefit cost)</span><sup style="top: -0.2082em;"><span class="stl_281 stl_08 stl_401" style="word-spacing:-0.0707em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0653em;top:28.8896em;z-index:553;"><span class="stl_267 stl_08 stl_713">4.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7897em;top:28.8896em;z-index:555;"><span class="stl_267 stl_08 stl_272">7</span><span class="stl_267 stl_08 stl_847">.</span><span class="stl_267 stl_08 stl_847">3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1835em;top:28.8896em;"><span class="stl_267 stl_08 stl_848">11.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:29.8996em;"><span class="stl_267 stl_08 stl_428" style="word-spacing:-0.0473em;">One off bonus  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0147em;top:29.8996em;"><span class="stl_267 stl_08 stl_349">3.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.746em;top:29.8996em;"><span class="stl_267 stl_08 stl_254">6.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4772em;top:29.8996em;"><span class="stl_267 stl_08 stl_275">9.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7234em;top:30.9096em;"><span class="stl_267 stl_08 stl_228" style="word-spacing:-0.0386em;">Remuneration in connection with redundancy,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7234em;top:31.7428em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0399em;">resignations and release from duty to work  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7272em;top:31.7428em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4678em;top:31.7428em;"><span class="stl_267 stl_08 stl_849">11.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1922em;top:31.7428em;"><span class="stl_267 stl_08 stl_849">11.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:32.7528em;"><span class="stl_267 stl_08 stl_165">Pension  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0197em;top:32.7528em;"><span class="stl_267 stl_08 stl_695">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7841em;top:32.7528em;"><span class="stl_267 stl_08 stl_682">1.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4747em;top:32.7528em;"><span class="stl_267 stl_08 stl_248">2.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:33.7628em;"><span class="stl_267 stl_08 stl_278">Benefits  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0197em;top:33.7628em;"><span class="stl_267 stl_08 stl_695">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.766em;top:33.7628em;"><span class="stl_267 stl_08 stl_419">1.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.5235em;top:33.7628em;"><span class="stl_267 stl_08 stl_770">1.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7241em;top:34.7728em;"><span class="stl_267 stl_08 stl_259" style="word-spacing:-0.0436em;">Share-based incentives</span><sup style="top: -0.2094em;"><span class="stl_281 stl_08 stl_846" style="word-spacing:-0.0748em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.728em;top:34.7715em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7355em;top:34.7715em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4599em;top:34.7715em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:35.7815em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0328em;">Group Management total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.6643em;top:35.7815em;"><span class="stl_274 stl_08 stl_33">15.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4037em;top:35.7815em;"><span class="stl_274 stl_08 stl_273">41.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1237em;top:35.7815em;"><span class="stl_274 stl_08 stl_375">57.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:37.2763em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_351" style="word-spacing:-0.05em;">ꢀEmployee benefit cost (contingent consideration agreement) related to the acquisition of Excellis Health Solutions. Following a decision  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.1968em;top:37.8598em;"><span class="stl_350 stl_08 stl_349" style="word-spacing:-0.0528em;">by the Danish Business Authority concerning accounting treatment of Employee benefit cost (earn-out payment) related to acquisitions,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.1968em;top:38.4433em;"><span class="stl_350 stl_08 stl_473" style="word-spacing:-0.0536em;">these payments are to be considered and expensed as salary.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:39.0263em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">2</span></sup><span class="stl_347 stl_08 stl_92" style="word-spacing:-0.0499em;">ꢀIncludes the annually recognized expense on granted share based and launch incentive programmes, which are not released.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:7.0661em;"><span class="stl_264 stl_08 stl_188" style="word-spacing:-0.0372em;">Short-term incentive program (STIP)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:7.8992em;"><span class="stl_202 stl_08 stl_230" style="word-spacing:-0.0404em;">Group Management and certain other employees participate in a STIP program, which entitles each participant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:8.7323em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">to receive an annual performance-based cash bonus, linked to the achievement of a number of predefined  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.5655em;"><span class="stl_202 stl_08 stl_321" style="word-spacing:-0.0417em;">functional and individual business targets. Performance is measured for each financial year and the cash-based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.3986em;z-index:1540;"><span class="stl_202 stl_08 stl_233" style="word-spacing:-0.0331em;">incentives, if any, are paid after announcement of the annual report for the subsequent year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.0655em;"><span class="stl_264 stl_08 stl_186" style="word-spacing:-0.0318em;">Long-term incentive program (LTIP)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.8986em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0343em;">LTIP is designed to promote the collective performance of Group Management and Vice Presidents to align the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.7317em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">interests of executives and shareholders.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.2736em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0361em;">The program is based on revenue and earnings, before interest and tax compared to the targeted levels.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.1067em;"><span class="stl_202 stl_08 stl_34" style="word-spacing:-0.0323em;">Shares are recognised over the four-year vesting period.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.6486em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0362em;">NNIT's Board of Directors approves the financial targets for the coming year, ensuring that the short-term  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.4817em;"><span class="stl_202 stl_08 stl_280" style="word-spacing:-0.0417em;">targets are aligned with NNIT's long-term targets and strategy.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.0236em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0382em;">The allocation under LTIP for the CEO cannot exceed twelve months base salary, and the allocation for the CFO  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.8567em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0362em;">cannot exceed nine months base salary. The allocation for the other members of Group Management cannot  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:21.6898em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0373em;">exceed nine moths base salary.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.2317em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0352em;">The shares allocated to the members of Group Management that are fully vested, will be released to the indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:24.0648em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.038em;">vidual participants subsequent to the approval of the Annual Report 2024 by the Board of Directors.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:25.6067em;"><span class="stl_202 stl_08 stl_73" style="word-spacing:-0.0325em;">Based on the share price at the end of 2024, the value of the released shares is as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.6595em;top:27.0325em;"><span class="stl_263 stl_08 stl_266">Number  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.2764em;top:27.0325em;"><span class="stl_263 stl_08 stl_424">Market  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:27.7825em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.3933em;top:27.7825em;"><span class="stl_263 stl_08 stl_535" style="word-spacing:-0.0329em;">of shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7945em;top:27.7825em;"><span class="stl_263 stl_08 stl_120">value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:29.4462em;"><span class="stl_264 stl_08 stl_532" style="word-spacing:-0.0412em;">Values at December 31, 2024 of shares to be released February 20, 2025  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:30.4562em;"><span class="stl_267 stl_08 stl_387" style="word-spacing:-0.0343em;">Pär Fors</span><sup style="top: -0.2082em;"><span class="stl_281 stl_08 stl_476" style="word-spacing:-0.0588em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5462em;top:30.4562em;"><span class="stl_267 stl_08 stl_198">1,942  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4775em;top:30.4562em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:31.4662em;"><span class="stl_267 stl_08 stl_270" style="word-spacing:-0.0442em;">Carsten Ringius  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.94em;top:31.4662em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1919em;top:31.4662em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:32.4762em;"><span class="stl_264 stl_08 stl_249" style="word-spacing:-0.0345em;">Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4644em;top:32.4762em;"><span class="stl_274 stl_08 stl_299">1,942  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4544em;top:32.4762em;"><span class="stl_274 stl_08 stl_310">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:33.7862em;"><span class="stl_264 stl_08 stl_534" style="word-spacing:-0.0359em;">Other members of Group Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5031em;top:33.7862em;"><span class="stl_274 stl_08 stl_174">1,765  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4544em;top:33.7862em;"><span class="stl_274 stl_08 stl_310">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:35.0962em;"><span class="stl_264 stl_08 stl_257" style="word-spacing:-0.0328em;">Group Management total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4762em;top:35.0962em;"><span class="stl_274 stl_08 stl_270">3,707  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4625em;top:35.0962em;"><span class="stl_274 stl_08 stl_710">0.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:36.5901em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_591" style="word-spacing:-0.0557em;">ꢀWill be settled in cash.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:38.1231em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0375em;">Please refer to note 5.1 for an overview of outstanding RSU’s.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3825em;"><span class="stl_527 stl_08 stl_29" style="word-spacing:0.2348em;">5.1 Long-term</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:10.310em;top:10.3825em;"><span class="stl_527 stl_08 stl_144">incentives  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.8218em;"><span class="stl_264 stl_08 stl_408" style="word-spacing:-0.0393em;">Long-term share-based incentive program  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.655em;"><span class="stl_202 stl_08 stl_226" style="word-spacing:-0.0357em;">Group Management and the Vice Presidents are included in a long-term share-based incentive program.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.4881em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0344em;">For more information regarding the long-term share-based incentive program, please refer to note 2.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.3212em;"><span class="stl_202 stl_08 stl_309" style="word-spacing:-0.0433em;">'Employee costs'  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.9881em;"><span class="stl_264 stl_08 stl_231" style="word-spacing:-0.0368em;">Share-based payments are recognized at the following amounts:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.5363em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:17.5363em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:17.5363em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.2em;"><span class="stl_267 stl_08 stl_249" style="word-spacing:-0.0345em;">Long-term incentive program (LTIP) in NNIT shares - share based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:19.2em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:19.2em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.21em;"><span class="stl_264 stl_08 stl_531" style="word-spacing:-0.034em;">Incentive program charged to income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2969em;top:20.21em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0213em;top:20.21em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.815em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.0348em;">Recognized in the income statement:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.825em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:22.825em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:22.825em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.835em;"><span class="stl_267 stl_08 stl_200">Administration  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:23.835em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:23.835em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.845em;"><span class="stl_264 stl_08 stl_157">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2969em;top:24.845em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0213em;top:24.845em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.4563em;"><span class="stl_202 stl_08 stl_186" style="word-spacing:-0.0317em;">Shares are recognized over the four-year vesting period at the market value at the grant date. Value adjust-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.2894em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">ments are recognized as financial items.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.8377em;"><span class="stl_264 stl_08 stl_247" style="word-spacing:-0.0375em;">Outstanding restricted stock units (in NNIT shares):  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.3855em;"><span class="stl_263 stl_08 stl_299" style="word-spacing:-0.0531em;">Number '000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:13.3855em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:13.3855em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.0493em;"><span class="stl_267 stl_08 stl_532" style="word-spacing:-0.0412em;">Outstanding at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5702em;top:15.0493em;"><span class="stl_267 stl_08 stl_305">209  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3558em;top:15.0493em;"><span class="stl_267 stl_08 stl_828">141  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.0593em;"><span class="stl_267 stl_08 stl_257" style="word-spacing:-0.0329em;">Long-term incentive program (LTIP)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:16.0593em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3352em;top:16.0593em;"><span class="stl_267 stl_08 stl_466">125  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.0693em;"><span class="stl_267 stl_08 stl_67" style="word-spacing:-0.0293em;">Transfer to employees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7308em;top:17.0693em;"><span class="stl_267 stl_08 stl_230">(25)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4995em;top:17.0693em;"><span class="stl_267 stl_08 stl_376">(31)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.0793em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0399em;">Committed to employees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:18.0793em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.847em;top:18.0793em;"><span class="stl_267 stl_08 stl_331">(9)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:19.0893em;"><span class="stl_267 stl_08 stl_309" style="word-spacing:-0.0433em;">Forfeiture during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7308em;top:19.0893em;"><span class="stl_267 stl_08 stl_230">(78)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5033em;top:19.0893em;"><span class="stl_267 stl_08 stl_680">(17)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.0993em;"><span class="stl_264 stl_08 stl_226" style="word-spacing:-0.0362em;">Outstanding at the end of the year (in NNIT shares)</span><sup style="top: -0.2093em;"><span class="stl_281 stl_08 stl_763" style="word-spacing:-0.0621em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5667em;top:20.0981em;"><span class="stl_274 stl_08 stl_204">106  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2729em;top:20.0981em;"><span class="stl_274 stl_08 stl_594">209  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7404em;top:21.7031em;"><span class="stl_267 stl_08 stl_245" style="word-spacing:-0.0353em;">Fair value of the RSU's end of period (DKK million)</span><sup style="top: -0.2082em;"><span class="stl_281 stl_08 stl_653" style="word-spacing:-0.0605em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9532em;top:21.703em;"><span class="stl_274 stl_08 stl_462">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6801em;top:21.703em;"><span class="stl_274 stl_08 stl_192">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.1981em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_523" style="word-spacing:-0.048em;">ꢀThe share price as of December 31, 2024 has been used when calculating the fair value of the RSU’s.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.7814em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">2</span></sup><span class="stl_347 stl_08 stl_268" style="word-spacing:-0.0441em;">ꢀKey management has been in total granted 20,487 shares with a fair value of DKK 1.9 million as of December 31, 2024.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_146" style="word-spacing:0.0232em;">2.3 Development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:6.9785em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:6.9785em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6423em;"><span class="stl_264 stl_08 stl_247" style="word-spacing:-0.0376em;">Costs for development of new projects, not eligible for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.4754em;"><span class="stl_264 stl_08 stl_492" style="word-spacing:-0.0333em;">recognition in the balance sheet are charged immediately  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3085em;"><span class="stl_264 stl_08 stl_255" style="word-spacing:-0.0363em;">to the income statement:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.3185em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:11.3185em;"><span class="stl_267 stl_08 stl_19">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6838em;top:11.3185em;"><span class="stl_267 stl_08 stl_286">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.3285em;"><span class="stl_267 stl_08 stl_276" style="word-spacing:-0.0431em;">Special items, costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.94em;top:12.3285em;"><span class="stl_267 stl_08 stl_721">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:12.3285em;"><span class="stl_267 stl_08 stl_19">0</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.3385em;"><span class="stl_264 stl_08 stl_68" style="word-spacing:-0.0293em;">Total development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9094em;top:13.3385em;"><span class="stl_274 stl_08 stl_405">24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6675em;top:13.3385em;"><span class="stl_274 stl_08 stl_50">14  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:6.9716em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:6.9716em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:6.9716em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:8.6353em;"><span class="stl_264 stl_08 stl_151" style="word-spacing:-0.0258em;">Tax (payable)/receivable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.6453em;"><span class="stl_267 stl_08 stl_386" style="word-spacing:-0.0327em;">Tax (payable)/receivable at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.742em;top:9.6453em;"><span class="stl_267 stl_08 stl_165">(55)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6614em;top:9.6453em;"><span class="stl_267 stl_08 stl_506">72  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.6553em;"><span class="stl_267 stl_08 stl_235" style="word-spacing:-0.0415em;">Disposals related to divestment of infrastructure business  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:10.6553em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:10.6553em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.6653em;"><span class="stl_267 stl_08 stl_234" style="word-spacing:-0.0371em;">Income tax paid/(received) during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.8045em;top:11.6653em;"><span class="stl_267 stl_08 stl_716">(13)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.7202em;top:11.6653em;"><span class="stl_267 stl_08 stl_810">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.6753em;"><span class="stl_267 stl_08 stl_257" style="word-spacing:-0.0334em;">Tax paid/(received) related to previous years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9545em;top:12.6753em;"><span class="stl_267 stl_08 stl_192">47  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4745em;top:12.6753em;"><span class="stl_267 stl_08 stl_135">(45)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:13.6853em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.0378em;">Withholding taxes paid/(received) during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4677em;top:13.6853em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.8377em;top:13.6853em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:14.6953em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0414em;">Current tax on profit for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.947em;top:14.6953em;"><span class="stl_267 stl_08 stl_170">24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4608em;top:14.6953em;"><span class="stl_267 stl_08 stl_340">(67)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.7053em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0408em;">Adjustments related to previous years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9833em;top:15.7053em;"><span class="stl_267 stl_08 stl_819">12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4551em;top:15.7053em;"><span class="stl_267 stl_08 stl_230">(25)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:16.7153em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0381em;">Exchange rate adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.1576em;top:16.7153em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.882em;top:16.7153em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:17.7253em;"><span class="stl_264 stl_08 stl_58" style="word-spacing:-0.028em;">Tax (payable)/receivable at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9589em;top:17.7253em;"><span class="stl_274 stl_08 stl_50">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4245em;top:17.7253em;"><span class="stl_274 stl_08 stl_528">(55)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:19.3303em;"><span class="stl_267 stl_08 stl_249" style="word-spacing:-0.0345em;">Tax (payable)/receivables, discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:19.3303em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1926em;top:19.3303em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:20.3403em;"><span class="stl_264 stl_08 stl_275" style="word-spacing:-0.0297em;">Tax (payable)/receivables, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9589em;top:20.3403em;"><span class="stl_274 stl_08 stl_50">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4245em;top:20.3403em;"><span class="stl_274 stl_08 stl_528">(55)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:21.9453em;"><span class="stl_264 stl_08 stl_186" style="word-spacing:-0.0313em;">Tax payable/receivables are recognized in the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:22.7785em;"><span class="stl_264 stl_08 stl_237" style="word-spacing:-0.0364em;">as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7401em;top:23.7885em;"><span class="stl_267 stl_08 stl_167" style="word-spacing:-0.0288em;">Tax receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9514em;top:23.7885em;"><span class="stl_267 stl_08 stl_366">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6958em;top:23.7885em;"><span class="stl_267 stl_08 stl_74">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:24.7985em;"><span class="stl_267 stl_08 stl_112" style="word-spacing:-0.0232em;">Tax payable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7358em;top:24.7985em;"><span class="stl_267 stl_08 stl_245">(22)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4552em;top:24.7985em;"><span class="stl_267 stl_08 stl_256">(70)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:25.8085em;"><span class="stl_267 stl_08 stl_424" style="word-spacing:-0.0307em;">Tax on other comprehensive income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9708em;top:25.8085em;"><span class="stl_267 stl_08 stl_74">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0358em;top:25.8085em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:26.8185em;"><span class="stl_264 stl_08 stl_388" style="word-spacing:-0.0221em;">Total tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9583em;top:26.8185em;"><span class="stl_274 stl_08 stl_50">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4239em;top:26.8185em;"><span class="stl_274 stl_08 stl_528">(55)  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:5.658em;"><span class="stl_527 stl_08 stl_201" style="word-spacing:0.1003em;">3.5 Deposits  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:6.9785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:6.9785em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:6.9785em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:8.6423em;"><span class="stl_267 stl_08 stl_234" style="word-spacing:-0.0376em;">Cost at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9545em;top:8.6423em;"><span class="stl_267 stl_08 stl_192">31  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.672em;top:8.6423em;"><span class="stl_267 stl_08 stl_112">27  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.6523em;"><span class="stl_267 stl_08 stl_320">Additions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.312em;top:9.6523em;"><span class="stl_267 stl_08 stl_19">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:9.6523em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.6623em;"><span class="stl_267 stl_08 stl_408">Disposal  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.1089em;top:10.6623em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.8827em;top:10.6623em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:11.6723em;"><span class="stl_267 stl_08 stl_249" style="word-spacing:-0.0342em;">Transfer to Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7352em;top:11.6723em;"><span class="stl_267 stl_08 stl_255">(23)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1927em;top:11.6723em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:12.6823em;"><span class="stl_264 stl_08 stl_248" style="word-spacing:-0.0349em;">Carrying amount at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9652em;top:12.6823em;"><span class="stl_274 stl_08 stl_65">12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.667em;top:12.6823em;"><span class="stl_274 stl_08 stl_581">31  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_144" style="word-spacing:0.0031em;">4.4 Financial assets and liabilities, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0373em;">Depending on the purpose of each asset and liability, NNIT classifies these into the following categories:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.9305em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:7.9305em;"><span class="stl_202 stl_08 stl_242" style="word-spacing:-0.0413em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:8.7637em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:8.7637em;"><span class="stl_202 stl_08 stl_305" style="word-spacing:-0.0432em;">Financial assets at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.5968em;"><span class="stl_202 stl_08 stl_19">•</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.4332em;top:9.5968em;"><span class="stl_202 stl_08 stl_203" style="word-spacing:-0.0372em;">Financial liabilities measured at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.0638em;top:11.1452em;"><span class="stl_263 stl_08 stl_121" style="word-spacing:-0.0387em;">Cash and cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1719em;top:11.1452em;"><span class="stl_263 stl_08 stl_242" style="word-spacing:-0.0414em;">Financial assets at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.8952em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8657em;top:11.8952em;"><span class="stl_263 stl_08 stl_494">equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.1407em;top:11.8952em;"><span class="stl_263 stl_08 stl_528" style="word-spacing:-0.046em;">amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:48.4275em;top:11.8952em;"><span class="stl_263 stl_08 stl_419">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.5002em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.6421em;"><span class="stl_264 stl_08 stl_203" style="word-spacing:-0.0368em;">Financial assets by category  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.5339em;"><span class="stl_267 stl_08 stl_509">Deposits  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.1063em;top:15.5339em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.9363em;top:15.5339em;"><span class="stl_267 stl_08 stl_819">12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.2038em;top:15.5339em;"><span class="stl_267 stl_08 stl_819">12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.4258em;"><span class="stl_267 stl_08 stl_167" style="word-spacing:-0.0287em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.1063em;top:16.4258em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.5538em;top:16.4258em;"><span class="stl_267 stl_08 stl_184">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:48.8213em;top:16.4258em;"><span class="stl_267 stl_08 stl_184">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.3177em;"><span class="stl_267 stl_08 stl_266" style="word-spacing:-0.0354em;">Work in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.1063em;top:17.3177em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.9282em;top:17.3177em;"><span class="stl_267 stl_08 stl_286">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.1957em;top:17.3177em;"><span class="stl_267 stl_08 stl_286">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.2096em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0419em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.1063em;top:18.2096em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.8969em;top:18.2096em;"><span class="stl_267 stl_08 stl_226">39  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.1644em;top:18.2096em;"><span class="stl_267 stl_08 stl_226">39  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.1014em;"><span class="stl_267 stl_08 stl_259">Prepayments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.1063em;top:19.1014em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.8919em;top:19.1014em;"><span class="stl_267 stl_08 stl_351">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.1594em;top:19.1014em;"><span class="stl_267 stl_08 stl_351">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.9933em;"><span class="stl_267 stl_08 stl_91" style="word-spacing:-0.0421em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.2425em;top:19.9933em;"><span class="stl_267 stl_08 stl_185">158  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.4207em;top:19.9933em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:48.825em;top:19.9933em;"><span class="stl_267 stl_08 stl_185">158  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.8852em;"><span class="stl_264 stl_08 stl_269" style="word-spacing:-0.0319em;">Total financial assets at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.2138em;top:20.8852em;"><span class="stl_274 stl_08 stl_203">158  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.5001em;top:20.8852em;"><span class="stl_274 stl_08 stl_865">568  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:48.7719em;top:20.8852em;"><span class="stl_274 stl_08 stl_750">726  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.0638em;top:22.6773em;"><span class="stl_263 stl_08 stl_121" style="word-spacing:-0.0387em;">Cash and cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1719em;top:22.6773em;"><span class="stl_263 stl_08 stl_242" style="word-spacing:-0.0414em;">Financial assets at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.4273em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8657em;top:23.4273em;"><span class="stl_263 stl_08 stl_494">equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.1407em;top:23.4273em;"><span class="stl_263 stl_08 stl_528" style="word-spacing:-0.046em;">amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:48.4275em;top:23.4273em;"><span class="stl_263 stl_08 stl_419">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.0323em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.1742em;"><span class="stl_264 stl_08 stl_203" style="word-spacing:-0.0368em;">Financial assets by category  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.0661em;"><span class="stl_267 stl_08 stl_509">Deposits  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.1063em;top:27.0661em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.9082em;top:27.0661em;"><span class="stl_267 stl_08 stl_192">31  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.1757em;top:27.0661em;"><span class="stl_267 stl_08 stl_192">31  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:27.9579em;"><span class="stl_267 stl_08 stl_173" style="word-spacing:-0.0286em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.1069em;top:27.9579em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.555em;top:27.9579em;"><span class="stl_267 stl_08 stl_62">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:48.8225em;top:27.9579em;"><span class="stl_267 stl_08 stl_62">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:28.8498em;"><span class="stl_267 stl_08 stl_266" style="word-spacing:-0.0354em;">Work in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.1069em;top:28.8498em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.9019em;top:28.8498em;"><span class="stl_267 stl_08 stl_149">67  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.1694em;top:28.8498em;"><span class="stl_267 stl_08 stl_149">67  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:29.7417em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0419em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.1069em;top:29.7417em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.5175em;top:29.7417em;"><span class="stl_267 stl_08 stl_520">258  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:48.785em;top:29.7417em;"><span class="stl_267 stl_08 stl_520">258  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:30.6336em;"><span class="stl_267 stl_08 stl_259">Prepayments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.1069em;top:30.6336em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.9013em;top:30.6336em;"><span class="stl_267 stl_08 stl_112">27  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.1688em;top:30.6336em;"><span class="stl_267 stl_08 stl_112">27  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:31.5254em;"><span class="stl_267 stl_08 stl_91" style="word-spacing:-0.0421em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.1932em;top:31.5254em;"><span class="stl_267 stl_08 stl_414">254  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.4219em;top:31.5254em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:48.7757em;top:31.5254em;"><span class="stl_267 stl_08 stl_414">254  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:32.4173em;"><span class="stl_264 stl_08 stl_269" style="word-spacing:-0.0319em;">Total financial assets at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.1838em;top:32.4173em;"><span class="stl_274 stl_08 stl_459">254  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.5157em;top:32.4173em;"><span class="stl_274 stl_08 stl_506">859  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:48.3363em;top:32.4173em;"><span class="stl_274 stl_08 stl_770">1,113  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.7282em;top:6.9716em;"><span class="stl_263 stl_08 stl_534">Financial  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.7132em;top:7.7216em;"><span class="stl_263 stl_08 stl_237">liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.2325em;top:8.4716em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0363em;">Financial liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6075em;top:8.4716em;"><span class="stl_263 stl_08 stl_340" style="word-spacing:-0.0339em;">measured at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9382em;top:9.2216em;"><span class="stl_263 stl_08 stl_340" style="word-spacing:-0.0339em;">measured at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.255em;top:9.2216em;"><span class="stl_263 stl_08 stl_387">undiscounted  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.9716em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.2269em;top:9.9716em;"><span class="stl_263 stl_08 stl_251" style="word-spacing:-0.0458em;">amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.2207em;top:9.9716em;"><span class="stl_263 stl_08 stl_252">paymentsl  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.6354em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.8953em;"><span class="stl_264 stl_08 stl_369" style="word-spacing:-0.0333em;">Financial liabilities by category  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.9053em;"><span class="stl_267 stl_08 stl_226" style="word-spacing:-0.0362em;">Lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6444em;top:13.9053em;"><span class="stl_267 stl_08 stl_185">130  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3144em;top:13.9053em;"><span class="stl_267 stl_08 stl_105">162  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.9153em;"><span class="stl_267 stl_08 stl_120" style="word-spacing:-0.0348em;">Credit Facilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6294em;top:14.9153em;"><span class="stl_267 stl_08 stl_620">271  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2988em;top:14.9153em;"><span class="stl_267 stl_08 stl_620">271  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.9253em;"><span class="stl_267 stl_08 stl_30" style="word-spacing:-0.0258em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.7057em;top:15.9253em;"><span class="stl_267 stl_08 stl_285">117  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.375em;top:15.9253em;"><span class="stl_267 stl_08 stl_285">117  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.9353em;"><span class="stl_267 stl_08 stl_280" style="word-spacing:-0.0412em;">Other non-current and current liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9882em;top:16.9353em;"><span class="stl_267 stl_08 stl_149">69  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6575em;top:16.9353em;"><span class="stl_267 stl_08 stl_149">69  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.9453em;"><span class="stl_264 stl_08 stl_165" style="word-spacing:-0.0298em;">Total financial liabilities at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5907em;top:17.9453em;"><span class="stl_274 stl_08 stl_292">587  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3138em;top:17.9453em;"><span class="stl_274 stl_08 stl_371">619  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.7282em;top:19.7973em;"><span class="stl_263 stl_08 stl_534">Financial  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.7132em;top:20.5473em;"><span class="stl_263 stl_08 stl_237">liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.2325em;top:21.2973em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0363em;">Financial liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6075em;top:21.2973em;"><span class="stl_263 stl_08 stl_340" style="word-spacing:-0.0339em;">measured at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9382em;top:22.0473em;"><span class="stl_263 stl_08 stl_340" style="word-spacing:-0.0339em;">measured at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.255em;top:22.0473em;"><span class="stl_263 stl_08 stl_387">undiscounted  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.7973em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.2269em;top:22.7973em;"><span class="stl_263 stl_08 stl_251" style="word-spacing:-0.0458em;">amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.2207em;top:22.7973em;"><span class="stl_263 stl_08 stl_252">paymentsl  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4611em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.7211em;"><span class="stl_264 stl_08 stl_369" style="word-spacing:-0.0333em;">Financial liabilities by category  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.7311em;"><span class="stl_267 stl_08 stl_226" style="word-spacing:-0.0362em;">Lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9644em;top:26.7311em;"><span class="stl_267 stl_08 stl_866">64  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6425em;top:26.7311em;"><span class="stl_267 stl_08 stl_602">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.7411em;"><span class="stl_267 stl_08 stl_120" style="word-spacing:-0.0348em;">Credit Facilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6269em;top:27.7411em;"><span class="stl_267 stl_08 stl_372">267  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2963em;top:27.7411em;"><span class="stl_267 stl_08 stl_319">267  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.7511em;"><span class="stl_267 stl_08 stl_30" style="word-spacing:-0.0258em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6944em;top:28.7511em;"><span class="stl_267 stl_08 stl_867">110  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3638em;top:28.7511em;"><span class="stl_267 stl_08 stl_867">110  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:29.7611em;"><span class="stl_267 stl_08 stl_280" style="word-spacing:-0.0412em;">Other non-current and current liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6432em;top:29.7611em;"><span class="stl_267 stl_08 stl_371">251  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3125em;top:29.7611em;"><span class="stl_267 stl_08 stl_371">251  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.7711em;"><span class="stl_264 stl_08 stl_165" style="word-spacing:-0.0298em;">Total financial liabilities at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6063em;top:30.7711em;"><span class="stl_274 stl_08 stl_204">692  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2619em;top:30.7711em;"><span class="stl_274 stl_08 stl_214">696  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.5433em;top:6.9716em;"><span class="stl_263 stl_08 stl_248">Credit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.6589em;top:6.9716em;"><span class="stl_263 stl_08 stl_226">Lease  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:7.7216em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.7908em;top:7.7216em;"><span class="stl_263 stl_08 stl_266">Facilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.2058em;top:7.7216em;"><span class="stl_263 stl_08 stl_232">liability  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9308em;top:7.7216em;"><span class="stl_263 stl_08 stl_419">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:9.3853em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:10.6216em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0348em;">Financial liabilities included in finance activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:11.5722em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0409em;">Financing liabilities included in finance activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:12.4053em;"><span class="stl_267 stl_08 stl_534" style="word-spacing:-0.0366em;">at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.2802em;top:12.4053em;"><span class="stl_267 stl_08 stl_372">267  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.6333em;top:12.4053em;"><span class="stl_267 stl_08 stl_304">64  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3058em;top:12.4053em;"><span class="stl_267 stl_08 stl_170">331  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:13.8285em;"><span class="stl_264 stl_08 stl_232" style="word-spacing:-0.0445em;">Cash flows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:14.7791em;"><span class="stl_267 stl_08 stl_428">Instalments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.1608em;top:14.7791em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4414em;top:14.7791em;"><span class="stl_267 stl_08 stl_228">(56)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4564em;top:14.7791em;"><span class="stl_267 stl_08 stl_228">(56)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.7297em;"><span class="stl_267 stl_08 stl_408" style="word-spacing:-0.0392em;">Ingoing/outgoing payments during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.0052em;top:15.7297em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.177em;top:15.7297em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:15.7297em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.1529em;"><span class="stl_264 stl_08 stl_344" style="word-spacing:-0.052em;">Non-cash flows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.1035em;"><span class="stl_267 stl_08 stl_229">Addition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.1614em;top:18.1035em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3195em;top:18.1035em;"><span class="stl_267 stl_08 stl_466">125  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3345em;top:18.1035em;"><span class="stl_267 stl_08 stl_466">125  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:19.0541em;"><span class="stl_267 stl_08 stl_121">Disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.162em;top:19.0541em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8183em;top:19.0541em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.8339em;top:19.0541em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:20.0047em;"><span class="stl_264 stl_08 stl_340" style="word-spacing:-0.0337em;">Total financial liabilities included in finance activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7408em;top:20.8379em;"><span class="stl_264 stl_08 stl_186" style="word-spacing:-0.0316em;">at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.2558em;top:20.8379em;"><span class="stl_274 stl_08 stl_506">271  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.2877em;top:20.8379em;"><span class="stl_274 stl_08 stl_233">130  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2764em;top:20.8379em;"><span class="stl_274 stl_08 stl_292">401  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.5433em;top:22.6565em;"><span class="stl_263 stl_08 stl_248">Credit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.6589em;top:22.6565em;"><span class="stl_263 stl_08 stl_226">Lease  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.4065em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.7908em;top:23.4065em;"><span class="stl_263 stl_08 stl_266">Facilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.2058em;top:23.4065em;"><span class="stl_263 stl_08 stl_232">liability  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9308em;top:23.4065em;"><span class="stl_263 stl_08 stl_419">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:25.0702em;"><span class="stl_264 stl_08 stl_822">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:26.3065em;"><span class="stl_264 stl_08 stl_411" style="word-spacing:-0.0348em;">Financial liabilities included in finance activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:27.2571em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0409em;">Financing liabilities included in finance activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:28.0902em;"><span class="stl_267 stl_08 stl_534" style="word-spacing:-0.0366em;">at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.2714em;top:28.0902em;"><span class="stl_267 stl_08 stl_68">857  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3152em;top:28.0902em;"><span class="stl_267 stl_08 stl_684">156  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.842em;top:28.0902em;"><span class="stl_267 stl_08 stl_868">1,013  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:29.5134em;"><span class="stl_264 stl_08 stl_232" style="word-spacing:-0.0445em;">Cash flows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:30.464em;"><span class="stl_267 stl_08 stl_428">Instalments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.1608em;top:30.464em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4477em;top:30.464em;"><span class="stl_267 stl_08 stl_211">(66)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4627em;top:30.464em;"><span class="stl_267 stl_08 stl_211">(66)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:31.4146em;"><span class="stl_267 stl_08 stl_408" style="word-spacing:-0.0392em;">Ingoing/outgoing payments during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.0652em;top:31.4146em;"><span class="stl_267 stl_08 stl_179">(590)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.1764em;top:31.4146em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.0964em;top:31.4146em;"><span class="stl_267 stl_08 stl_179">(590)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:32.8377em;"><span class="stl_264 stl_08 stl_344" style="word-spacing:-0.052em;">Non-cash flows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:33.7884em;"><span class="stl_267 stl_08 stl_229">Addition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.1608em;top:33.7884em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.6889em;top:33.7884em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.7045em;top:33.7884em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:34.739em;"><span class="stl_267 stl_08 stl_121">Disposals  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.1614em;top:34.739em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4489em;top:34.739em;"><span class="stl_267 stl_08 stl_146">(40)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4633em;top:34.739em;"><span class="stl_267 stl_08 stl_146">(40)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:35.6896em;"><span class="stl_267 stl_08 stl_247" style="word-spacing:-0.0381em;">Exchange rate adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.1614em;top:35.6896em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8664em;top:35.6896em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.882em;top:35.6896em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:36.6402em;"><span class="stl_264 stl_08 stl_340" style="word-spacing:-0.0337em;">Total financial liabilities included in finance activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:37.4734em;"><span class="stl_264 stl_08 stl_186" style="word-spacing:-0.0316em;">at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.2552em;top:37.4734em;"><span class="stl_274 stl_08 stl_490">267  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.6295em;top:37.4734em;"><span class="stl_274 stl_08 stl_809">64  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2839em;top:37.4734em;"><span class="stl_274 stl_08 stl_582">331  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_264 stl_08 stl_275" style="word-spacing:-0.0293em;">Fair value measurement hierarchy  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0335em;">Financial assets and liabilities at fair value through comprehensive income are categorized in the fair value hier-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6378em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0354em;">archy as level 2 (directly or indirectly observable market data). The fair value is measured according to generally  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.471em;"><span class="stl_202 stl_08 stl_34" style="word-spacing:-0.0323em;">accepted valuation techniques. Market-based parameters are used to measure the fair value. The remaining  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3041em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0385em;">categories of financial assets and liabilities are measured at amortized cost. Plan assets recognised for the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1372em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0343em;">groups defined pension benefits is measured at fair value, reference is made to note 3.7  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.965em;"><span class="stl_527 stl_08 stl_468" style="word-spacing:0.1571em;">3.6 Trade</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.473em;top:15.965em;"><span class="stl_527 stl_08 stl_208">receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.2855em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:17.2855em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:17.2855em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.9492em;"><span class="stl_267 stl_08 stl_340" style="word-spacing:-0.0342em;">Total trade receivables (gross)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.6008em;top:18.9492em;"><span class="stl_267 stl_08 stl_184">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2783em;top:18.9492em;"><span class="stl_267 stl_08 stl_307">482  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:19.9592em;"><span class="stl_267 stl_08 stl_203" style="word-spacing:-0.0371em;">Allowances for bad debt in the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4677em;top:19.9592em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0358em;top:19.9592em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:20.9692em;"><span class="stl_264 stl_08 stl_11" style="word-spacing:-0.0261em;">Total trade receivables (net)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5789em;top:20.9692em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3033em;top:20.9692em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:22.9886em;"><span class="stl_267 stl_08 stl_249" style="word-spacing:-0.0343em;">Total trade receivables (net), discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4677em;top:22.9886em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.192em;top:22.9886em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:23.9986em;"><span class="stl_264 stl_08 stl_66" style="word-spacing:-0.0291em;">Total trade receivables (net), continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5789em;top:23.9986em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3033em;top:23.9986em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:25.6036em;"><span class="stl_264 stl_08 stl_34" style="word-spacing:-0.0324em;">Trade receivables is recognized in the balance sheet as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:26.6136em;"><span class="stl_267 stl_08 stl_529" style="word-spacing:-0.0374em;">Trade receivables, non-current  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3114em;top:26.6136em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6627em;top:26.6136em;"><span class="stl_267 stl_08 stl_351">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:27.6236em;"><span class="stl_267 stl_08 stl_492" style="word-spacing:-0.0333em;">Trade receivables, current  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5914em;top:27.6236em;"><span class="stl_267 stl_08 stl_462">470  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3314em;top:27.6236em;"><span class="stl_267 stl_08 stl_684">451  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:28.6336em;"><span class="stl_264 stl_08 stl_68" style="word-spacing:-0.0287em;">Total trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5795em;top:28.6336em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3039em;top:28.6336em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:30.2449em;"><span class="stl_202 stl_08 stl_12" style="word-spacing:-0.0403em;">NNIT applies the IFRS 9 simplified approach to measure expected credit losses, which uses a lifetime expected  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:31.078em;"><span class="stl_202 stl_08 stl_59" style="word-spacing:-0.0388em;">loss allowance for all trade receivables. NNIT has assessed historical realized losses adjusted by a forward-looking  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:31.9111em;"><span class="stl_202 stl_08 stl_147" style="word-spacing:-0.0377em;">estimate related to the probability of a significant change in the economic environment. Historically NNIT has not  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:32.7442em;"><span class="stl_202 stl_08 stl_312" style="word-spacing:-0.0369em;">realized any losses on trade receivables due to the economic environment. Losses have been due to claim settle-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:33.5774em;"><span class="stl_202 stl_08 stl_37" style="word-spacing:-0.0433em;">ment with customers.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:35.2442em;"><span class="stl_202 stl_08 stl_144" style="word-spacing:-0.0408em;">Further NNIT continuously conduct individual assessments of bad debts. If this leads to an assessment that NNIT  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:36.0774em;"><span class="stl_774 stl_08 stl_31" style="word-spacing:-0.0411em;">will not be able to collect all outstanding payments, an allowance for bad debt is made. NNIT A/S has based on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:36.9105em;"><span class="stl_202 stl_08 stl_372" style="word-spacing:-0.0342em;">an individual assessment recognised expected credit loss of DKK 0 million as of 31 December 2024 (2023: DKK 6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:37.7436em;"><span class="stl_202 stl_08 stl_155">million).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:6.9716em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:6.9716em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6353em;"><span class="stl_264 stl_08 stl_243" style="word-spacing:-0.0396em;">Aging of non-impaired trade receivables:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.6453em;"><span class="stl_267 stl_08 stl_321" style="word-spacing:-0.0391em;">Non-invoiced trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9257em;top:9.6453em;"><span class="stl_267 stl_08 stl_581">85  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6432em;top:9.6453em;"><span class="stl_267 stl_08 stl_602">60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.6553em;"><span class="stl_267 stl_08 stl_72" style="word-spacing:-0.0346em;">Not due at balance sheet date  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5563em;top:10.6553em;"><span class="stl_267 stl_08 stl_256">272  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2907em;top:10.6553em;"><span class="stl_267 stl_08 stl_170">281  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.6653em;"><span class="stl_267 stl_08 stl_493" style="word-spacing:-0.0455em;">Overdue between 1 and 30 days  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9207em;top:11.6653em;"><span class="stl_267 stl_08 stl_506">72  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6613em;top:11.6653em;"><span class="stl_267 stl_08 stl_302">81  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.6753em;"><span class="stl_267 stl_08 stl_309" style="word-spacing:-0.0432em;">Overdue between 31 and 60 days  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9188em;top:12.6753em;"><span class="stl_267 stl_08 stl_602">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6363em;top:12.6753em;"><span class="stl_267 stl_08 stl_460">34  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6853em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0399em;">Overdue by more than 60 days  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9232em;top:13.6853em;"><span class="stl_267 stl_08 stl_351">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.655em;top:13.6853em;"><span class="stl_267 stl_08 stl_116">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.6953em;"><span class="stl_264 stl_08 stl_68" style="word-spacing:-0.0287em;">Total trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5638em;top:14.6953em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2882em;top:14.6953em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.7053em;"><span class="stl_267 stl_08 stl_226" style="word-spacing:-0.036em;">Total trade receivables, discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:15.7053em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:15.7053em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.7153em;"><span class="stl_264 stl_08 stl_424" style="word-spacing:-0.0306em;">Total trade receivables, continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5638em;top:16.7153em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2882em;top:16.7153em;"><span class="stl_274 stl_08 stl_423">476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.3266em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0368em;">Part of the non-invoiced trade receivables are regarding long-term projects, where the amount will be invoiced  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.1597em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0348em;">to the customer over the operation period which is more than one year. The long-term project amount to DKK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:19.9928em;"><span class="stl_202 stl_08 stl_143" style="word-spacing:-0.025em;">25 million as of 31 December 2024 (2023: DKK 49 million), of these 19 million will be invoiced in 2025.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:6.9724em;"><span class="stl_264 stl_08 stl_535" style="word-spacing:-0.032em;">Credit risk  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:7.8055em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">NNIT’s credit risk principally arises from trade receivables, which amounted to DKK 476 million as of December  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:8.6386em;"><span class="stl_202 stl_08 stl_181" style="word-spacing:-0.0273em;">31, 2024 (December 31, 2023: DKK 476 million). The maximum credit risk corresponds to the carrying amount.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:9.4718em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0406em;">For many years, NNIT has not realised any significant losses on receivables. The classification of trade receiva-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:10.3049em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0347em;">bles according to maturity date is set out in the note 3.6.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_170" style="word-spacing:0.445em;">3.9 Discontinued</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:11.612em;top:5.658em;"><span class="stl_527 stl_08 stl_176">operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0374em;">June 22, 2022 it was announced that NNIT was divesting the infrastructure operations and in December 2022  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.9305em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0349em;">and December 2023 it qualified for recognition as Discontinuing operations according to IFRS 5.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.4785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:9.4785em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:9.4785em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.5573em;"><span class="stl_264 stl_08 stl_164">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:11.5573em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2538em;top:11.5573em;"><span class="stl_274 stl_08 stl_300">504  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.5673em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Cost of goods sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:12.5673em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.265em;top:12.5673em;"><span class="stl_267 stl_08 stl_602">405  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.5773em;"><span class="stl_264 stl_08 stl_305" style="word-spacing:-0.0422em;">Gross profit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:13.5773em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6369em;top:13.5773em;"><span class="stl_274 stl_08 stl_851">99  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.1823em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0412em;">Sales and marketing costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:15.1823em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6894em;top:15.1823em;"><span class="stl_267 stl_08 stl_816">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:16.1923em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0426em;">Administrative expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4532em;top:16.1923em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6369em;top:16.1923em;"><span class="stl_267 stl_08 stl_459">54  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:17.2023em;"><span class="stl_264 stl_08 stl_234" style="word-spacing:-0.0375em;">Operating profit before special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4532em;top:17.2023em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6407em;top:17.2023em;"><span class="stl_274 stl_08 stl_750">30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:18.8073em;"><span class="stl_267 stl_08 stl_120" style="word-spacing:-0.0354em;">Gain from discontinuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4532em;top:18.8073em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6682em;top:18.8073em;"><span class="stl_267 stl_08 stl_57">76  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:19.8173em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0373em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:19.8173em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3182em;top:19.8173em;"><span class="stl_267 stl_08 stl_360">102  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:20.8273em;"><span class="stl_264 stl_08 stl_247" style="word-spacing:-0.0381em;">Operating profit/(loss)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:20.8273em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0225em;top:20.8273em;"><span class="stl_274 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:22.4323em;"><span class="stl_267 stl_08 stl_266" style="word-spacing:-0.0356em;">Financial income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:22.4323em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1775em;top:22.4323em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:23.4423em;"><span class="stl_267 stl_08 stl_230" style="word-spacing:-0.0407em;">Financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:23.4423em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0219em;top:23.4423em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:24.4523em;"><span class="stl_264 stl_08 stl_320" style="word-spacing:-0.0383em;">Profit/(loss) before income taxes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:24.4523em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0225em;top:24.4523em;"><span class="stl_274 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:26.0573em;"><span class="stl_267 stl_08 stl_244" style="word-spacing:-0.037em;">Income taxes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:26.0573em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4456em;top:26.0573em;"><span class="stl_267 stl_08 stl_245">(22)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:27.0673em;"><span class="stl_264 stl_08 stl_249" style="word-spacing:-0.0343em;">Profit for the year of discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:27.0673em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.635em;top:27.0673em;"><span class="stl_274 stl_08 stl_405">24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.49em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:9.49em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:9.49em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.5343em;"><span class="stl_264 stl_08 stl_266" style="word-spacing:-0.0352em;">Earnings per share  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.4612em;"><span class="stl_267 stl_08 stl_268" style="word-spacing:-0.0443em;">Earnings per share (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:12.4612em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1283em;top:12.4612em;"><span class="stl_267 stl_08 stl_173">0.96  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.3881em;"><span class="stl_267 stl_08 stl_280" style="word-spacing:-0.0418em;">Diluted earnings per share (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:13.3881em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1283em;top:13.3881em;"><span class="stl_267 stl_08 stl_173">0.96  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:14.9337em;"><span class="stl_264 stl_08 stl_340" style="word-spacing:-0.0336em;">Cash Flows from discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.9437em;"><span class="stl_267 stl_08 stl_483" style="word-spacing:-0.0474em;">Cash flow from operating activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:15.9437em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.4589em;top:15.9437em;"><span class="stl_267 stl_08 stl_255">(97)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.9537em;"><span class="stl_267 stl_08 stl_303" style="word-spacing:-0.0479em;">Cash flow from investing activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:16.9537em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2702em;top:16.9537em;"><span class="stl_267 stl_08 stl_577">904  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.9637em;"><span class="stl_267 stl_08 stl_239" style="word-spacing:-0.0486em;">Cash flow from financing activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:17.9637em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1927em;top:17.9637em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.9737em;"><span class="stl_264 stl_08 stl_226" style="word-spacing:-0.0359em;">Cash flow from discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:18.9737em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2777em;top:18.9737em;"><span class="stl_274 stl_08 stl_395">807  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_264 stl_08 stl_529" style="word-spacing:-0.0372em;">Divestment of infrastructure business  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.2843em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:8.2843em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:8.2843em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.9481em;"><span class="stl_264 stl_08 stl_249" style="word-spacing:-0.0341em;">Consideration received/receivable:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.9343em;"><span class="stl_267 stl_08 stl_236">Cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:10.9343em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7719em;top:10.9343em;"><span class="stl_267 stl_08 stl_171">1,001  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:11.9206em;"><span class="stl_267 stl_08 stl_233" style="word-spacing:-0.0327em;">Fair value of contingent consideration  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4532em;top:11.9206em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2713em;top:11.9206em;"><span class="stl_267 stl_08 stl_516">200  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:12.9068em;"><span class="stl_267 stl_08 stl_250" style="word-spacing:-0.0426em;">Net working capital/Net interest bearing debt adj. and other adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4532em;top:12.9068em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.0788em;top:12.9068em;"><span class="stl_267 stl_08 stl_233">(209)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:13.8931em;"><span class="stl_264 stl_08 stl_226" style="word-spacing:-0.0356em;">Sales price for discontinued operations incl. adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4532em;top:13.8931em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2669em;top:13.8931em;"><span class="stl_274 stl_08 stl_289">992  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:15.4706em;"><span class="stl_267 stl_08 stl_320" style="word-spacing:-0.0383em;">Transaction costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:15.4706em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6863em;top:15.4706em;"><span class="stl_267 stl_08 stl_45">51  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:16.4568em;"><span class="stl_264 stl_08 stl_231" style="word-spacing:-0.037em;">Sales price for discontinued operations, after transaction costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:16.4568em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2788em;top:16.4568em;"><span class="stl_274 stl_08 stl_523">941  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:17.9156em;"><span class="stl_267 stl_08 stl_528" style="word-spacing:-0.0461em;">Carrying amount of net assets sold  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:17.9156em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2944em;top:17.9156em;"><span class="stl_267 stl_08 stl_60">821  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:18.9018em;"><span class="stl_264 stl_08 stl_72" style="word-spacing:-0.0347em;">Gain on sale of discontinued operations before tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:18.9018em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2944em;top:18.9018em;"><span class="stl_274 stl_08 stl_208">120  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:19.8881em;"><span class="stl_267 stl_08 stl_340" style="word-spacing:-0.0339em;">Tax on divestment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:19.8881em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6269em;top:19.8881em;"><span class="stl_267 stl_08 stl_284">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:20.8743em;"><span class="stl_264 stl_08 stl_245" style="word-spacing:-0.0354em;">Gain on sale of discontinued operations after tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4538em;top:20.8743em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6569em;top:20.8743em;"><span class="stl_274 stl_08 stl_165">76  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:22.3331em;"><span class="stl_267 stl_08 stl_532" style="word-spacing:-0.0411em;">Assets and liabilities in the business sold comprise of:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:23.3193em;"><span class="stl_267 stl_08 stl_494" style="word-spacing:-0.0445em;">Intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4544em;top:23.3193em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3188em;top:23.3193em;"><span class="stl_267 stl_08 stl_397">102  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:24.3056em;"><span class="stl_267 stl_08 stl_123" style="word-spacing:-0.0303em;">Tangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4544em;top:24.3056em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2888em;top:24.3056em;"><span class="stl_267 stl_08 stl_165">501  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:25.2918em;"><span class="stl_267 stl_08 stl_89" style="word-spacing:-0.0452em;">Lease assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4544em;top:25.2918em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6469em;top:25.2918em;"><span class="stl_267 stl_08 stl_506">38  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:26.2781em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0424em;">Deferred taxes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4544em;top:26.2781em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0225em;top:26.2781em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:27.2643em;"><span class="stl_267 stl_08 stl_509">Deposits  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4544em;top:27.2643em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0225em;top:27.2643em;"><span class="stl_267 stl_08 stl_19">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:28.2506em;"><span class="stl_267 stl_08 stl_183" style="word-spacing:-0.0273em;">Transition cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4544em;top:28.2506em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6444em;top:28.2506em;"><span class="stl_267 stl_08 stl_289">80  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:29.2368em;"><span class="stl_267 stl_08 stl_167" style="word-spacing:-0.0287em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4544em;top:29.2368em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6463em;top:29.2368em;"><span class="stl_267 stl_08 stl_734">96  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7263em;top:30.2231em;"><span class="stl_267 stl_08 stl_266" style="word-spacing:-0.0354em;">Work in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4544em;top:30.2231em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6519em;top:30.2231em;"><span class="stl_267 stl_08 stl_268">28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7269em;top:31.2093em;"><span class="stl_267 stl_08 stl_530" style="word-spacing:-0.0419em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.455em;top:31.2093em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0231em;top:31.2093em;"><span class="stl_267 stl_08 stl_19">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7269em;top:32.1956em;"><span class="stl_267 stl_08 stl_259">Prepayments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.455em;top:32.1956em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.37em;top:32.1956em;"><span class="stl_267 stl_08 stl_290">114  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7269em;top:33.1818em;"><span class="stl_267 stl_08 stl_236">Cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.455em;top:33.1818em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6669em;top:33.1818em;"><span class="stl_267 stl_08 stl_721">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7269em;top:34.1681em;"><span class="stl_264 stl_08 stl_167" style="word-spacing:-0.028em;">Total assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.455em;top:34.1681em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.26em;top:34.1681em;"><span class="stl_274 stl_08 stl_594">995  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:8.3417em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:8.3417em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:8.3417em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.9954em;"><span class="stl_267 stl_08 stl_253" style="word-spacing:-0.0388em;">Employee benefit obligations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:9.9954em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:9.9954em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.0054em;"><span class="stl_267 stl_08 stl_226" style="word-spacing:-0.0362em;">Lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:11.0054em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.652em;top:11.0054em;"><span class="stl_267 stl_08 stl_460">34  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.0154em;"><span class="stl_267 stl_08 stl_280" style="word-spacing:-0.0414em;">Prepayments received, transition cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:12.0154em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6514em;top:12.0154em;"><span class="stl_267 stl_08 stl_851">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.0017em;"><span class="stl_267 stl_08 stl_242" style="word-spacing:-0.0411em;">Prepayments received, work in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:13.0017em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6995em;top:13.0017em;"><span class="stl_267 stl_08 stl_286">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.9879em;"><span class="stl_267 stl_08 stl_246" style="word-spacing:-0.0405em;">Employee costs payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:13.9879em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.667em;top:13.9879em;"><span class="stl_267 stl_08 stl_247">62  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:14.9742em;"><span class="stl_267 stl_08 stl_145" style="word-spacing:-0.0248em;">Tax payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:14.9742em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:14.9742em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.9604em;"><span class="stl_267 stl_08 stl_408" style="word-spacing:-0.0392em;">Other current liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:15.9604em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6995em;top:15.9604em;"><span class="stl_267 stl_08 stl_286">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.9467em;"><span class="stl_267 stl_08 stl_387">Provisions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:16.9467em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:16.9467em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.9329em;"><span class="stl_264 stl_08 stl_145" style="word-spacing:-0.0239em;">Total liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:17.9329em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3395em;top:17.9329em;"><span class="stl_274 stl_08 stl_663">174  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:19.9048em;"><span class="stl_264 stl_08 stl_695" style="word-spacing:-0.044em;">Net assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:19.9048em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2852em;top:19.9048em;"><span class="stl_274 stl_08 stl_465">821  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:21.4929em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0394em;">On 28 April 2023, NNIT completed the transformative divestment of the Group’s infrastructure operations to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:22.3261em;"><span class="stl_774 stl_08 stl_253" style="word-spacing:-0.039em;">funds advised by Agilitas Private Equity LLP as initially described in company announcement no. 9/2022 on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.1592em;"><span class="stl_774 stl_08 stl_183" style="word-spacing:-0.0275em;">June 22, 2022.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:24.8261em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0353em;">Financial information relating to the discontinued operation is set out in the table.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.3825em;"><span class="stl_527 stl_08 stl_35" style="word-spacing:-0.0082em;">4.2 Share capital, distribution to shareholder and earnings per share  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.7029em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:11.7029em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:11.7029em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.3198em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0396em;">Profit/(loss) from continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.312em;top:13.3198em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:13.3198em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:14.2229em;"><span class="stl_267 stl_08 stl_246" style="word-spacing:-0.04em;">Profit/(loss) from discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:14.2229em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6714em;top:14.2229em;"><span class="stl_267 stl_08 stl_170">24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.1261em;"><span class="stl_264 stl_08 stl_234" style="word-spacing:-0.0375em;">Net profit/(loss) for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3127em;top:15.1261em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6558em;top:15.1261em;"><span class="stl_274 stl_08 stl_707">30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.9329em;"><span class="stl_263 stl_08 stl_299" style="word-spacing:-0.0531em;">Number '000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.8361em;"><span class="stl_267 stl_08 stl_121" style="word-spacing:-0.0382em;">Average number of shares outstanding  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.6389em;top:17.8361em;"><span class="stl_267 stl_08 stl_513">24,894  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.3733em;top:17.8361em;"><span class="stl_267 stl_08 stl_530">24.869  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.7392em;"><span class="stl_267 stl_08 stl_403" style="word-spacing:-0.0492em;">Dilutive effect of share-based payments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9408em;top:18.7392em;"><span class="stl_267 stl_08 stl_268">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3914em;top:18.7392em;"><span class="stl_267 stl_08 stl_863">112  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.1317em;"><span class="stl_267 stl_08 stl_229" style="word-spacing:-0.0399em;">Average number of shares outstanding,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.9648em;"><span class="stl_267 stl_08 stl_251" style="word-spacing:-0.0458em;">including dilutive effect of share-based payments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.6977em;top:20.9648em;"><span class="stl_267 stl_08 stl_40">24,976  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.3977em;top:20.9648em;"><span class="stl_267 stl_08 stl_09">24.981  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:22.3573em;"><span class="stl_264 stl_08 stl_266" style="word-spacing:-0.0352em;">Earnings per share  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.2604em;"><span class="stl_267 stl_08 stl_268" style="word-spacing:-0.0443em;">Earnings per share (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4002em;top:23.2604em;"><span class="stl_267 stl_08 stl_269">0.03  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1427em;top:23.2604em;"><span class="stl_267 stl_08 stl_131">1.20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:24.1636em;"><span class="stl_267 stl_08 stl_280" style="word-spacing:-0.0418em;">Diluted earnings per share (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3995em;top:24.1636em;"><span class="stl_267 stl_08 stl_269">0.03  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.142em;top:24.1636em;"><span class="stl_267 stl_08 stl_131">1.20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:25.5561em;"><span class="stl_264 stl_08 stl_233" style="word-spacing:-0.033em;">Earnings per share from continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:26.4592em;"><span class="stl_267 stl_08 stl_268" style="word-spacing:-0.0443em;">Earnings per share (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1114em;top:26.4592em;"><span class="stl_267 stl_08 stl_270">0.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:27.3623em;"><span class="stl_267 stl_08 stl_280" style="word-spacing:-0.0418em;">Diluted earnings per share (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1114em;top:27.3623em;"><span class="stl_267 stl_08 stl_270">0.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:28.7548em;"><span class="stl_264 stl_08 stl_340" style="word-spacing:-0.034em;">Earnings per share from discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:29.6579em;"><span class="stl_267 stl_08 stl_268" style="word-spacing:-0.0443em;">Earnings per share (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.127em;top:29.6579em;"><span class="stl_267 stl_08 stl_173">0.96  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:30.561em;"><span class="stl_267 stl_08 stl_280" style="word-spacing:-0.0418em;">Diluted earnings per share (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.127em;top:30.561em;"><span class="stl_267 stl_08 stl_173">0.96  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:32.1135em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0351em;">Earnings per share and diluted earnings per share are calculated in accordance with IAS 33. Basic earnings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:32.9467em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">per share are calculated by dividing the profit attributable to equity holders of the Company by the weighted  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:33.7798em;"><span class="stl_202 stl_08 stl_227" style="word-spacing:-0.0321em;">average number of ordinary shares in issue during the year, excluding ordinary shares purchased by the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:34.6129em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">Company and held as treasury shares. Diluted earnings per share is calculated by adjusting the weighted  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:35.446em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:36.2792em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">RSUs are only included when performance requirements have been met.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:37.821em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0356em;">The share capital has a nominal value of DKK 250 million divided into 25 million shares with a nominal value of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:38.6542em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0385em;">DKK 10 each. No shares carry special rights.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.895em;top:6.9716em;"><span class="stl_263 stl_08 stl_411">Number  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.6638em;top:7.7216em;"><span class="stl_263 stl_08 stl_73" style="word-spacing:1.0624em;">Nominal Market</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.604em;top:7.7216em;"><span class="stl_263 stl_08 stl_120">value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.4907em;top:7.7216em;"><span class="stl_263 stl_08 stl_654" style="word-spacing:-0.0631em;">As % of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.6294em;top:7.7216em;"><span class="stl_263 stl_08 stl_34" style="word-spacing:-0.0322em;">of shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.4716em;"><span class="stl_263 stl_08 stl_412">DKK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.6063em;top:8.4716em;"><span class="stl_263 stl_08 stl_120">value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.5413em;top:8.4716em;"><span class="stl_263 stl_08 stl_114" style="word-spacing:1.1271em;">(million) share</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.644em;top:8.4716em;"><span class="stl_263 stl_08 stl_524">capital  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.1138em;top:8.4716em;"><span class="stl_263 stl_08 stl_229">(thousand)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:10.1354em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:11.3953em;"><span class="stl_264 stl_08 stl_424" style="word-spacing:-0.0308em;">Treasury shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7238em;top:12.4053em;"><span class="stl_267 stl_08 stl_201" style="word-spacing:-0.0359em;">Holding at the beginning of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.8469em;top:12.4053em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.255em;top:12.4053em;"><span class="stl_267 stl_08 stl_810">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2232em;top:12.4053em;"><span class="stl_267 stl_08 stl_201">0.5%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3338em;top:12.4053em;"><span class="stl_267 stl_08 stl_24">131  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.4153em;"><span class="stl_267 stl_08 stl_408">Disposal  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.0038em;top:13.4153em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.3682em;top:13.4153em;"><span class="stl_267 stl_08 stl_462">-3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.0763em;top:13.4153em;"><span class="stl_267 stl_08 stl_261">-0,1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4507em;top:13.4153em;"><span class="stl_267 stl_08 stl_149">-25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:14.4253em;"><span class="stl_267 stl_08 stl_253" style="word-spacing:-0.0393em;">Value adjustments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.0044em;top:14.4253em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.5725em;top:14.4253em;"><span class="stl_267 stl_08 stl_19">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:15.4353em;"><span class="stl_264 stl_08 stl_386" style="word-spacing:-0.0326em;">Holding at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.8488em;top:15.4353em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.2138em;top:15.4353em;"><span class="stl_274 stl_08 stl_462">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2763em;top:15.4353em;"><span class="stl_274 stl_08 stl_204">106  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:17.0466em;"><span class="stl_202 stl_08 stl_386" style="word-spacing:-0.0327em;">Treasury shares held relates to the long-term incentive program. Retained earnings are accumulated earnings.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:18.7135em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0345em;">Exchange rate adjustments are the difference between average exchange rates in the year and exchange rates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:19.5466em;"><span class="stl_202 stl_08 stl_492" style="word-spacing:-0.0336em;">at the balance sheet date when consolidating subsidiaries.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:21.2135em;z-index:1006;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0358em;">Proposed dividends are the dividends proposed by the Board of Directors for the financial year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.5934em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:23.5934em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:23.5934em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.2571em;"><span class="stl_267 stl_08 stl_254" style="word-spacing:-0.0408em;">Net cash distribution to shareholders  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:25.2571em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:25.2571em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.2671em;"><span class="stl_267 stl_08 stl_305" style="word-spacing:-0.0429em;">Ordinary dividends Interim dividends  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:26.2671em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:26.2671em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.2771em;"><span class="stl_264 stl_08 stl_157">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4525em;top:27.2771em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:27.2771em;"><span class="stl_274 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.8884em;"><span class="stl_202 stl_08 stl_269" style="word-spacing:-0.0319em;">No interim dividend was declared in 2024 and no dividend will be declared at the end of 2024.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.3825em;"><span class="stl_527 stl_08 stl_35" style="word-spacing:-0.0082em;">4.2 Share capital, distribution to shareholder and earnings per share  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.7029em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:11.7029em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:11.7029em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.3198em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0396em;">Profit/(loss) from continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.312em;top:13.3198em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:13.3198em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:14.2229em;"><span class="stl_267 stl_08 stl_246" style="word-spacing:-0.04em;">Profit/(loss) from discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:14.2229em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6714em;top:14.2229em;"><span class="stl_267 stl_08 stl_170">24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.1261em;"><span class="stl_264 stl_08 stl_234" style="word-spacing:-0.0375em;">Net profit/(loss) for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3127em;top:15.1261em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6558em;top:15.1261em;"><span class="stl_274 stl_08 stl_707">30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.9329em;"><span class="stl_263 stl_08 stl_299" style="word-spacing:-0.0531em;">Number '000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.8361em;"><span class="stl_267 stl_08 stl_121" style="word-spacing:-0.0382em;">Average number of shares outstanding  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.6389em;top:17.8361em;"><span class="stl_267 stl_08 stl_513">24,894  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.3733em;top:17.8361em;"><span class="stl_267 stl_08 stl_530">24.869  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.7392em;"><span class="stl_267 stl_08 stl_403" style="word-spacing:-0.0492em;">Dilutive effect of share-based payments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9408em;top:18.7392em;"><span class="stl_267 stl_08 stl_268">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3914em;top:18.7392em;"><span class="stl_267 stl_08 stl_863">112  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.1317em;"><span class="stl_267 stl_08 stl_229" style="word-spacing:-0.0399em;">Average number of shares outstanding,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.9648em;"><span class="stl_267 stl_08 stl_251" style="word-spacing:-0.0458em;">including dilutive effect of share-based payments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.6977em;top:20.9648em;"><span class="stl_267 stl_08 stl_40">24,976  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.3977em;top:20.9648em;"><span class="stl_267 stl_08 stl_09">24.981  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:22.3573em;"><span class="stl_264 stl_08 stl_266" style="word-spacing:-0.0352em;">Earnings per share  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.2604em;"><span class="stl_267 stl_08 stl_268" style="word-spacing:-0.0443em;">Earnings per share (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4002em;top:23.2604em;"><span class="stl_267 stl_08 stl_269">0.03  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1427em;top:23.2604em;"><span class="stl_267 stl_08 stl_131">1.20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:24.1636em;"><span class="stl_267 stl_08 stl_280" style="word-spacing:-0.0418em;">Diluted earnings per share (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3995em;top:24.1636em;"><span class="stl_267 stl_08 stl_269">0.03  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.142em;top:24.1636em;"><span class="stl_267 stl_08 stl_131">1.20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:25.5561em;"><span class="stl_264 stl_08 stl_233" style="word-spacing:-0.033em;">Earnings per share from continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:26.4592em;"><span class="stl_267 stl_08 stl_268" style="word-spacing:-0.0443em;">Earnings per share (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1114em;top:26.4592em;"><span class="stl_267 stl_08 stl_270">0.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:27.3623em;"><span class="stl_267 stl_08 stl_280" style="word-spacing:-0.0418em;">Diluted earnings per share (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1114em;top:27.3623em;"><span class="stl_267 stl_08 stl_270">0.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:28.7548em;"><span class="stl_264 stl_08 stl_340" style="word-spacing:-0.034em;">Earnings per share from discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:29.6579em;"><span class="stl_267 stl_08 stl_268" style="word-spacing:-0.0443em;">Earnings per share (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.127em;top:29.6579em;"><span class="stl_267 stl_08 stl_173">0.96  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:30.561em;"><span class="stl_267 stl_08 stl_280" style="word-spacing:-0.0418em;">Diluted earnings per share (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.127em;top:30.561em;"><span class="stl_267 stl_08 stl_173">0.96  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:32.1135em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0351em;">Earnings per share and diluted earnings per share are calculated in accordance with IAS 33. Basic earnings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:32.9467em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">per share are calculated by dividing the profit attributable to equity holders of the Company by the weighted  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:33.7798em;"><span class="stl_202 stl_08 stl_227" style="word-spacing:-0.0321em;">average number of ordinary shares in issue during the year, excluding ordinary shares purchased by the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:34.6129em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">Company and held as treasury shares. Diluted earnings per share is calculated by adjusting the weighted  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:35.446em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:36.2792em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">RSUs are only included when performance requirements have been met.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:37.821em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0356em;">The share capital has a nominal value of DKK 250 million divided into 25 million shares with a nominal value of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:38.6542em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0385em;">DKK 10 each. No shares carry special rights.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.3825em;"><span class="stl_527 stl_08 stl_35" style="word-spacing:-0.0082em;">4.2 Share capital, distribution to shareholder and earnings per share  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.7029em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:11.7029em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:11.7029em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.3198em;"><span class="stl_267 stl_08 stl_243" style="word-spacing:-0.0396em;">Profit/(loss) from continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.312em;top:13.3198em;"><span class="stl_267 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0364em;top:13.3198em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:14.2229em;"><span class="stl_267 stl_08 stl_246" style="word-spacing:-0.04em;">Profit/(loss) from discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4683em;top:14.2229em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6714em;top:14.2229em;"><span class="stl_267 stl_08 stl_170">24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.1261em;"><span class="stl_264 stl_08 stl_234" style="word-spacing:-0.0375em;">Net profit/(loss) for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3127em;top:15.1261em;"><span class="stl_274 stl_08 stl_19">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6558em;top:15.1261em;"><span class="stl_274 stl_08 stl_707">30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.9329em;"><span class="stl_263 stl_08 stl_299" style="word-spacing:-0.0531em;">Number '000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:17.8361em;"><span class="stl_267 stl_08 stl_121" style="word-spacing:-0.0382em;">Average number of shares outstanding  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.6389em;top:17.8361em;"><span class="stl_267 stl_08 stl_513">24,894  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.3733em;top:17.8361em;"><span class="stl_267 stl_08 stl_530">24.869  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:18.7392em;"><span class="stl_267 stl_08 stl_403" style="word-spacing:-0.0492em;">Dilutive effect of share-based payments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9408em;top:18.7392em;"><span class="stl_267 stl_08 stl_268">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.3914em;top:18.7392em;"><span class="stl_267 stl_08 stl_863">112  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.1317em;"><span class="stl_267 stl_08 stl_229" style="word-spacing:-0.0399em;">Average number of shares outstanding,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:20.9648em;"><span class="stl_267 stl_08 stl_251" style="word-spacing:-0.0458em;">including dilutive effect of share-based payments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.6977em;top:20.9648em;"><span class="stl_267 stl_08 stl_40">24,976  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.3977em;top:20.9648em;"><span class="stl_267 stl_08 stl_09">24.981  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:22.3573em;"><span class="stl_264 stl_08 stl_266" style="word-spacing:-0.0352em;">Earnings per share  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:23.2604em;"><span class="stl_267 stl_08 stl_268" style="word-spacing:-0.0443em;">Earnings per share (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4002em;top:23.2604em;"><span class="stl_267 stl_08 stl_269">0.03  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1427em;top:23.2604em;"><span class="stl_267 stl_08 stl_131">1.20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7395em;top:24.1636em;"><span class="stl_267 stl_08 stl_280" style="word-spacing:-0.0418em;">Diluted earnings per share (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3995em;top:24.1636em;"><span class="stl_267 stl_08 stl_269">0.03  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.142em;top:24.1636em;"><span class="stl_267 stl_08 stl_131">1.20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:25.5561em;"><span class="stl_264 stl_08 stl_233" style="word-spacing:-0.033em;">Earnings per share from continuing operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:26.4592em;"><span class="stl_267 stl_08 stl_268" style="word-spacing:-0.0443em;">Earnings per share (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1114em;top:26.4592em;"><span class="stl_267 stl_08 stl_270">0.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:27.3623em;"><span class="stl_267 stl_08 stl_280" style="word-spacing:-0.0418em;">Diluted earnings per share (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1114em;top:27.3623em;"><span class="stl_267 stl_08 stl_270">0.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:28.7548em;"><span class="stl_264 stl_08 stl_340" style="word-spacing:-0.034em;">Earnings per share from discontinued operations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:29.6579em;"><span class="stl_267 stl_08 stl_268" style="word-spacing:-0.0443em;">Earnings per share (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.127em;top:29.6579em;"><span class="stl_267 stl_08 stl_173">0.96  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:30.561em;"><span class="stl_267 stl_08 stl_280" style="word-spacing:-0.0418em;">Diluted earnings per share (DKK)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.127em;top:30.561em;"><span class="stl_267 stl_08 stl_173">0.96  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:32.1135em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.0351em;">Earnings per share and diluted earnings per share are calculated in accordance with IAS 33. Basic earnings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:32.9467em;"><span class="stl_202 stl_08 stl_228" style="word-spacing:-0.0387em;">per share are calculated by dividing the profit attributable to equity holders of the Company by the weighted  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:33.7798em;"><span class="stl_202 stl_08 stl_227" style="word-spacing:-0.0321em;">average number of ordinary shares in issue during the year, excluding ordinary shares purchased by the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:34.6129em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">Company and held as treasury shares. Diluted earnings per share is calculated by adjusting the weighted  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:35.446em;"><span class="stl_202 stl_08 stl_534" style="word-spacing:-0.0365em;">average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:36.2792em;"><span class="stl_202 stl_08 stl_247" style="word-spacing:-0.0381em;">RSUs are only included when performance requirements have been met.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:37.821em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0356em;">The share capital has a nominal value of DKK 250 million divided into 25 million shares with a nominal value of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7389em;top:38.6542em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0385em;">DKK 10 each. No shares carry special rights.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_264 stl_08 stl_275" style="word-spacing:-0.0293em;">Fair value measurement hierarchy  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0335em;">Financial assets and liabilities at fair value through comprehensive income are categorized in the fair value hier-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6378em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0354em;">archy as level 2 (directly or indirectly observable market data). The fair value is measured according to generally  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.471em;"><span class="stl_202 stl_08 stl_34" style="word-spacing:-0.0323em;">accepted valuation techniques. Market-based parameters are used to measure the fair value. The remaining  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3041em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0385em;">categories of financial assets and liabilities are measured at amortized cost. Plan assets recognised for the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1372em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0343em;">groups defined pension benefits is measured at fair value, reference is made to note 3.7  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_264 stl_08 stl_275" style="word-spacing:-0.0293em;">Fair value measurement hierarchy  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0335em;">Financial assets and liabilities at fair value through comprehensive income are categorized in the fair value hier-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6378em;"><span class="stl_202 stl_08 stl_245" style="word-spacing:-0.0354em;">archy as level 2 (directly or indirectly observable market data). The fair value is measured according to generally  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.471em;"><span class="stl_202 stl_08 stl_34" style="word-spacing:-0.0323em;">accepted valuation techniques. Market-based parameters are used to measure the fair value. The remaining  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3041em;"><span class="stl_202 stl_08 stl_320" style="word-spacing:-0.0385em;">categories of financial assets and liabilities are measured at amortized cost. Plan assets recognised for the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.1372em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0343em;">groups defined pension benefits is measured at fair value, reference is made to note 3.7  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.8041em;"><span class="stl_264 stl_08 stl_72" style="word-spacing:-0.0337em;">Financial risks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6372em;"><span class="stl_202 stl_08 stl_309" style="word-spacing:-0.0432em;">NNIT’s objective at all times is to limit the Company’s financial risks.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.3041em;z-index:656;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.039em;">Financing and sufficient liquidity are fundamental to NNIT</span><span class="stl_202 stl_08 stl_869">´</span><span class="stl_202 stl_08 stl_19" style="word-spacing:0.0004em;">s </span><span class="stl_202 stl_08 stl_409">c</span><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0405em;">ontinuing operations and future growth. Liquidity  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1372em;"><span class="stl_202 stl_08 stl_66" style="word-spacing:-0.0294em;">is managed centrally from the Parent Company.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8041em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0362em;">To cover the Group’s liquidity needs, an agreement on credit facilities for a total of DKK 400 million has been  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6372em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">entered (2023: DKK 300 million). The Group's credit facilities are subject to standard financial covenants.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3041em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0346em;">The liquidity risk is countered by consistent focus on budgeted and realized cash flow.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.971em;"><span class="stl_202 stl_08 stl_530" style="word-spacing:-0.0424em;">NNIT is exposed to exchange rate risks in the countries where NNIT has its main activities. The majority part  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8041em;z-index:1180;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0373em;">of NNIT’s sales is in DKK and EUR, implying limited foreign exchange risk, due to the Parent Company’s fun</span><span class="stl_202 stl_08 stl_831">c</span><span class="stl_202 stl_08 stl_831">-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.6372em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">tional currency being DKK and Denmark’s fixed-rate policy towards EUR. NNIT’s foreign exchange risk therefore  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4703em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0375em;">primarily stems from transactions carried out in the currencies of other countries in which NNIT mainly oper-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.3035em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0346em;">ates: Primarily the Philippines peso, US Dollar, Czech Koruna and to a lesser extent Chinese yuan and the Swiss  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.1366em;"><span class="stl_202 stl_08 stl_240">franc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.8035em;"><span class="stl_202 stl_08 stl_386" style="word-spacing:-0.0327em;">Most of the foreign exchange risk in the Chinese yuan and US dollar and all of the foreign exchange risk in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.6366em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0343em;">Czech koruna and the Philippines are due to intercompany transactions.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3035em;"><span class="stl_264 stl_08 stl_203" style="word-spacing:-0.0368em;">Foreign exchange sensitivity analysis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.1366em;"><span class="stl_202 stl_08 stl_73" style="word-spacing:-0.0324em;">NNIT estimates that all other variables being constant, a 10% depreciation of the average 2024 exchange rate of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.9697em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">the Danish kroner against the following currencies would have had the indicated impact (in Danish kroner) on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8029em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0404em;">our operating profit (EBIT) for 2024. The following sensitivity analysis addresses hypothetical situations and is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.636em;"><span class="stl_202 stl_08 stl_530" style="word-spacing:-0.0421em;">provided for illustrative purposes only:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:6.9716em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:6.9716em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:6.9716em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:8.6353em;"><span class="stl_267 stl_08 stl_173">EUR  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.1089em;top:8.6353em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6958em;top:8.6353em;"><span class="stl_267 stl_08 stl_74">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.6453em;"><span class="stl_267 stl_08 stl_349">CNY  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.1577em;top:9.6453em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.8377em;top:9.6453em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.6553em;"><span class="stl_267 stl_08 stl_516">CZK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.1252em;top:10.6553em;"><span class="stl_267 stl_08 stl_98">(4)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.8395em;top:10.6553em;"><span class="stl_267 stl_08 stl_149">(6)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.6653em;"><span class="stl_267 stl_08 stl_27">USD  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.312em;top:11.6653em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.7077em;top:11.6653em;"><span class="stl_267 stl_08 stl_819">12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.6753em;"><span class="stl_267 stl_08 stl_247">CHF  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.312em;top:12.6753em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1927em;top:12.6753em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.6853em;"><span class="stl_267 stl_08 stl_422">PHP  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.107em;top:13.6853em;"><span class="stl_267 stl_08 stl_227">(5)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.8464em;top:13.6853em;"><span class="stl_267 stl_08 stl_331">(9)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.2966em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0348em;">A corresponding appreciation of the Danish kroner against the above currencies would have had the opposite  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.1297em;"><span class="stl_202 stl_08 stl_323">impact.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_774 stl_08 stl_535" style="word-spacing:-0.033em;">As of December 31, 2024 NNIT, A/S’ net balance position (trade receivables minus trade payables) divided on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">currency amounted to a short-term outflow primarily in Euro, US dollar and Czech koruna and a short term  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6378em;"><span class="stl_774 stl_08 stl_369" style="word-spacing:-0.0335em;">inflow in Chinese Yuan. A 10% depreciation of the exchange rate of the Danish kroner against NNIT A/S’ transac</span><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0335em;">-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.471em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">tion exposures (net balance position) will have the below illustrated impact (in Danish kroner) on the net profit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3041em;"><span class="stl_202 stl_08 stl_11" style="word-spacing:-0.0264em;">before tax for the year ended December 31, 2024.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.7944em;top:11.8527em;"><span class="stl_263 stl_08 stl_96">Trade  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.5188em;top:11.8527em;"><span class="stl_263 stl_08 stl_96">Trade  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.365em;top:11.8527em;"><span class="stl_263 stl_08 stl_248" style="word-spacing:-0.0351em;">Net balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.1369em;top:11.8527em;"><span class="stl_263 stl_08 stl_211">Transaction  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1462em;top:11.8527em;"><span class="stl_263 stl_08 stl_468">10%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.6027em;"><span class="stl_263 stl_08 stl_215">Million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:13.9607em;top:12.6027em;"><span class="stl_263 stl_08 stl_321">Receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.5519em;top:12.6027em;"><span class="stl_263 stl_08 stl_492">Payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.4838em;top:12.6027em;"><span class="stl_263 stl_08 stl_246">position  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6588em;top:12.6027em;"><span class="stl_263 stl_08 stl_168">exposure</span><sup style="top: -0.2081em;"><span class="stl_870 stl_08 stl_532">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3281em;top:12.6027em;"><span class="stl_263 stl_08 stl_516">sensitivity  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:14.2077em;"><span class="stl_264 stl_08 stl_259" style="word-spacing:-0.0439em;">December 31, 2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:15.7533em;"><span class="stl_267 stl_08 stl_349">CNY  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.5912em;top:15.7533em;"><span class="stl_267 stl_08 stl_209">0.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.0987em;top:15.7533em;"><span class="stl_267 stl_08 stl_215">(0.2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.06em;top:15.7533em;"><span class="stl_267 stl_08 stl_298">1.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7843em;top:15.7533em;"><span class="stl_267 stl_08 stl_298">1.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.5231em;top:15.7533em;z-index:586;"><span class="stl_267 stl_08 stl_871">0.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:16.7633em;"><span class="stl_267 stl_08 stl_516">CZK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.28em;top:16.7633em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.96em;top:16.7633em;"><span class="stl_267 stl_08 stl_157">18.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.5018em;top:16.7633em;"><span class="stl_267 stl_08 stl_96">(18.0)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2262em;top:16.7633em;"><span class="stl_267 stl_08 stl_96">(18.0)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3193em;top:16.7633em;"><span class="stl_267 stl_08 stl_32">(1.8)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:17.7733em;"><span class="stl_267 stl_08 stl_247">CHF  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.28em;top:17.7733em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.3162em;top:17.7733em;"><span class="stl_267 stl_08 stl_209">0.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.8487em;top:17.7733em;"><span class="stl_267 stl_08 stl_131">(0.9)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5731em;top:17.7733em;"><span class="stl_267 stl_08 stl_131">(0.9)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3568em;top:17.7733em;"><span class="stl_267 stl_08 stl_872">(0.1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:18.7833em;"><span class="stl_267 stl_08 stl_27">USD  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.6275em;top:18.7833em;"><span class="stl_267 stl_08 stl_770">1.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.2987em;top:18.7833em;"><span class="stl_267 stl_08 stl_254">9.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.8493em;top:18.7833em;z-index:645;"><span class="stl_267 stl_08 stl_271">(</span><span class="stl_267 stl_08 stl_272">7</span><span class="stl_267 stl_08 stl_316">.</span><span class="stl_267 stl_08 stl_165">5)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5737em;top:18.7833em;z-index:650;"><span class="stl_267 stl_08 stl_271">(</span><span class="stl_267 stl_08 stl_272">7</span><span class="stl_267 stl_08 stl_316">.</span><span class="stl_267 stl_08 stl_165">5)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2756em;top:18.7833em;"><span class="stl_267 stl_08 stl_126">(0.8)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:19.7933em;"><span class="stl_267 stl_08 stl_173">EUR  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.6206em;top:19.7933em;z-index:663;"><span class="stl_267 stl_08 stl_729">3.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.9525em;top:19.7933em;"><span class="stl_267 stl_08 stl_133">13.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.495em;top:19.7933em;"><span class="stl_267 stl_08 stl_194">(10.2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2181em;top:19.7933em;"><span class="stl_267 stl_08 stl_194">(10.2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3262em;top:19.7933em;"><span class="stl_267 stl_08 stl_798">(1.0)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.7944em;top:22.0074em;"><span class="stl_263 stl_08 stl_96">Trade  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.5188em;top:22.0074em;"><span class="stl_263 stl_08 stl_96">Trade  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.365em;top:22.0074em;"><span class="stl_263 stl_08 stl_248" style="word-spacing:-0.0351em;">Net balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.1369em;top:22.0074em;"><span class="stl_263 stl_08 stl_211">Transaction  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1462em;top:22.0074em;"><span class="stl_263 stl_08 stl_468">10%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.7574em;"><span class="stl_263 stl_08 stl_215">Million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:13.9607em;top:22.7574em;"><span class="stl_263 stl_08 stl_321">Receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.5519em;top:22.7574em;"><span class="stl_263 stl_08 stl_492">Payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.4838em;top:22.7574em;"><span class="stl_263 stl_08 stl_246">position  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6588em;top:22.7574em;"><span class="stl_263 stl_08 stl_168">exposure</span><sup style="top: -0.2081em;"><span class="stl_870 stl_08 stl_532">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3281em;top:22.7574em;"><span class="stl_263 stl_08 stl_516">sensitivity  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:24.3624em;"><span class="stl_264 stl_08 stl_425" style="word-spacing:-0.0429em;">December 31, 2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:25.908em;"><span class="stl_267 stl_08 stl_349">CNY  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.5643em;top:25.908em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.305em;top:25.908em;"><span class="stl_267 stl_08 stl_126">0.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.8256em;top:25.908em;"><span class="stl_267 stl_08 stl_163">(0.4)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.55em;top:25.908em;"><span class="stl_267 stl_08 stl_163">(0.4)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4775em;top:25.908em;"><span class="stl_267 stl_08 stl_424">0.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:26.918em;"><span class="stl_267 stl_08 stl_516">CZK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.2793em;top:26.918em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.0643em;top:26.918em;z-index:829;"><span class="stl_267 stl_08 stl_873">11.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.6343em;top:26.918em;"><span class="stl_267 stl_08 stl_874">(11.1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3587em;top:26.918em;"><span class="stl_267 stl_08 stl_874">(11.1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3993em;top:26.918em;"><span class="stl_267 stl_08 stl_875">(1.1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:27.928em;"><span class="stl_267 stl_08 stl_247">CHF  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.5625em;top:27.928em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.3256em;top:27.928em;"><span class="stl_267 stl_08 stl_768">1.8  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.8606em;top:27.928em;"><span class="stl_267 stl_08 stl_431">(1.5)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.585em;top:27.928em;"><span class="stl_267 stl_08 stl_431">(1.5)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3556em;top:27.928em;"><span class="stl_267 stl_08 stl_872">(0.1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:28.938em;"><span class="stl_267 stl_08 stl_27">USD  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.5756em;top:28.938em;"><span class="stl_267 stl_08 stl_231">3.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.37em;top:28.938em;"><span class="stl_267 stl_08 stl_876">7.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.82em;top:28.938em;"><span class="stl_267 stl_08 stl_387">(4.3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5443em;top:28.938em;"><span class="stl_267 stl_08 stl_387">(4.3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2743em;top:28.938em;"><span class="stl_267 stl_08 stl_163">(0.4)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:29.948em;"><span class="stl_267 stl_08 stl_173">EUR  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.5756em;top:29.948em;"><span class="stl_267 stl_08 stl_231">3.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.0343em;top:29.948em;"><span class="stl_267 stl_08 stl_877">11.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.9012em;top:29.948em;"><span class="stl_267 stl_08 stl_804">(8.1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6256em;top:29.948em;"><span class="stl_267 stl_08 stl_804">(8.1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.275em;top:29.948em;"><span class="stl_267 stl_08 stl_126">(0.8)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:6.9724em;"><span class="stl_264 stl_08 stl_535" style="word-spacing:-0.032em;">Credit risk  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:7.8055em;"><span class="stl_202 stl_08 stl_266" style="word-spacing:-0.0355em;">NNIT’s credit risk principally arises from trade receivables, which amounted to DKK 476 million as of December  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:8.6386em;"><span class="stl_202 stl_08 stl_181" style="word-spacing:-0.0273em;">31, 2024 (December 31, 2023: DKK 476 million). The maximum credit risk corresponds to the carrying amount.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:9.4718em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0406em;">For many years, NNIT has not realised any significant losses on receivables. The classification of trade receiva-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:10.3049em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0347em;">bles according to maturity date is set out in the note 3.6.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:11.9718em;"><span class="stl_264 stl_08 stl_72" style="word-spacing:-0.0338em;">Cash management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:12.8049em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">NNIT is committed to maintain a flexible capital structure. As of December 31, 2024, NNIT had undrawn  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:13.638em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0342em;">committed credit facilities in the amount of DKK 129 million (2023: DKK 33 million). The credit facility is subject  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:14.4711em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0349em;">to a covenant requiring that debt leverage, defined as net debt divided by 12 months rolling adjusted EBITDA,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:15.3043em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0396em;">must not exceed 3.00x. The covenant is tested and reported end of each quarter until the maturity of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:16.1374em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0405em;">facility. There is no indication of any difficulties in complying with this covenant.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:17.8043em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">The total credit facility is DKK 400 million (December 2023: 300) of which DKK 100 million matures in 2025.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:19.4711em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">The total draw on the credit facility of DKK 271 million is classified with DKK 100 million as current, and DKK 171  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:20.3043em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">million as long-term, as the maturity of the remaining facility is beyond one year from the reporting date with  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:21.1374em;"><span class="stl_202 stl_08 stl_34" style="word-spacing:-0.0323em;">expiration in 2026. As of December 31, 2024, NNIT had ‘cash and cash equivalents’ DKK 158 million outside  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:21.9705em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">Denmark and ‘bank facilities’, net of DKK 271 million in Denmark.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:23.6374em;"><span class="stl_264 stl_08 stl_492" style="word-spacing:-0.0329em;">Capital management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:24.4705em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">NNIT monitors capital on the basis of the solvency ratio, which is calculated on the basis of the total equity as a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:25.3036em;"><span class="stl_202 stl_08 stl_211" style="word-spacing:-0.0314em;">percentage of the total equity and liabilities. At the end of the year, the solvency ratio was 51.0% (2023: 40.4%).  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.8041em;"><span class="stl_264 stl_08 stl_72" style="word-spacing:-0.0337em;">Financial risks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.6372em;"><span class="stl_202 stl_08 stl_309" style="word-spacing:-0.0432em;">NNIT’s objective at all times is to limit the Company’s financial risks.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:15.3041em;z-index:656;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.039em;">Financing and sufficient liquidity are fundamental to NNIT</span><span class="stl_202 stl_08 stl_869">´</span><span class="stl_202 stl_08 stl_19" style="word-spacing:0.0004em;">s </span><span class="stl_202 stl_08 stl_409">c</span><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0405em;">ontinuing operations and future growth. Liquidity  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:16.1372em;"><span class="stl_202 stl_08 stl_66" style="word-spacing:-0.0294em;">is managed centrally from the Parent Company.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:17.8041em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0362em;">To cover the Group’s liquidity needs, an agreement on credit facilities for a total of DKK 400 million has been  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:18.6372em;"><span class="stl_202 stl_08 stl_120" style="word-spacing:-0.0357em;">entered (2023: DKK 300 million). The Group's credit facilities are subject to standard financial covenants.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:20.3041em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0346em;">The liquidity risk is countered by consistent focus on budgeted and realized cash flow.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:11.9718em;"><span class="stl_264 stl_08 stl_72" style="word-spacing:-0.0338em;">Cash management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:12.8049em;"><span class="stl_202 stl_08 stl_231" style="word-spacing:-0.0369em;">NNIT is committed to maintain a flexible capital structure. As of December 31, 2024, NNIT had undrawn  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:13.638em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0342em;">committed credit facilities in the amount of DKK 129 million (2023: DKK 33 million). The credit facility is subject  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:14.4711em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0349em;">to a covenant requiring that debt leverage, defined as net debt divided by 12 months rolling adjusted EBITDA,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:15.3043em;"><span class="stl_202 stl_08 stl_408" style="word-spacing:-0.0396em;">must not exceed 3.00x. The covenant is tested and reported end of each quarter until the maturity of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:16.1374em;"><span class="stl_202 stl_08 stl_229" style="word-spacing:-0.0405em;">facility. There is no indication of any difficulties in complying with this covenant.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:17.8043em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">The total credit facility is DKK 400 million (December 2023: 300) of which DKK 100 million matures in 2025.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:19.4711em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">The total draw on the credit facility of DKK 271 million is classified with DKK 100 million as current, and DKK 171  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:20.3043em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">million as long-term, as the maturity of the remaining facility is beyond one year from the reporting date with  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:21.1374em;"><span class="stl_202 stl_08 stl_34" style="word-spacing:-0.0323em;">expiration in 2026. As of December 31, 2024, NNIT had ‘cash and cash equivalents’ DKK 158 million outside  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:21.9705em;"><span class="stl_202 stl_08 stl_411" style="word-spacing:-0.035em;">Denmark and ‘bank facilities’, net of DKK 271 million in Denmark.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:21.971em;"><span class="stl_202 stl_08 stl_530" style="word-spacing:-0.0424em;">NNIT is exposed to exchange rate risks in the countries where NNIT has its main activities. The majority part  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.8041em;z-index:1180;"><span class="stl_202 stl_08 stl_188" style="word-spacing:-0.0373em;">of NNIT’s sales is in DKK and EUR, implying limited foreign exchange risk, due to the Parent Company’s fun</span><span class="stl_202 stl_08 stl_831">c</span><span class="stl_202 stl_08 stl_831">-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:23.6372em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0383em;">tional currency being DKK and Denmark’s fixed-rate policy towards EUR. NNIT’s foreign exchange risk therefore  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:24.4703em;"><span class="stl_202 stl_08 stl_234" style="word-spacing:-0.0375em;">primarily stems from transactions carried out in the currencies of other countries in which NNIT mainly oper-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:25.3035em;"><span class="stl_202 stl_08 stl_72" style="word-spacing:-0.0346em;">ates: Primarily the Philippines peso, US Dollar, Czech Koruna and to a lesser extent Chinese yuan and the Swiss  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:26.1366em;"><span class="stl_202 stl_08 stl_240">franc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:27.8035em;"><span class="stl_202 stl_08 stl_386" style="word-spacing:-0.0327em;">Most of the foreign exchange risk in the Chinese yuan and US dollar and all of the foreign exchange risk in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:28.6366em;"><span class="stl_202 stl_08 stl_531" style="word-spacing:-0.0343em;">Czech koruna and the Philippines are due to intercompany transactions.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3035em;"><span class="stl_264 stl_08 stl_203" style="word-spacing:-0.0368em;">Foreign exchange sensitivity analysis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.1366em;"><span class="stl_202 stl_08 stl_73" style="word-spacing:-0.0324em;">NNIT estimates that all other variables being constant, a 10% depreciation of the average 2024 exchange rate of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.9697em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">the Danish kroner against the following currencies would have had the indicated impact (in Danish kroner) on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8029em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0404em;">our operating profit (EBIT) for 2024. The following sensitivity analysis addresses hypothetical situations and is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.636em;"><span class="stl_202 stl_08 stl_530" style="word-spacing:-0.0421em;">provided for illustrative purposes only:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:6.9716em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:6.9716em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:6.9716em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:8.6353em;"><span class="stl_267 stl_08 stl_173">EUR  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.1089em;top:8.6353em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6958em;top:8.6353em;"><span class="stl_267 stl_08 stl_74">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.6453em;"><span class="stl_267 stl_08 stl_349">CNY  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.1577em;top:9.6453em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.8377em;top:9.6453em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.6553em;"><span class="stl_267 stl_08 stl_516">CZK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.1252em;top:10.6553em;"><span class="stl_267 stl_08 stl_98">(4)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.8395em;top:10.6553em;"><span class="stl_267 stl_08 stl_149">(6)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.6653em;"><span class="stl_267 stl_08 stl_27">USD  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.312em;top:11.6653em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.7077em;top:11.6653em;"><span class="stl_267 stl_08 stl_819">12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.6753em;"><span class="stl_267 stl_08 stl_247">CHF  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.312em;top:12.6753em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1927em;top:12.6753em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.6853em;"><span class="stl_267 stl_08 stl_422">PHP  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.107em;top:13.6853em;"><span class="stl_267 stl_08 stl_227">(5)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.8464em;top:13.6853em;"><span class="stl_267 stl_08 stl_331">(9)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.2966em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0348em;">A corresponding appreciation of the Danish kroner against the above currencies would have had the opposite  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.1297em;"><span class="stl_202 stl_08 stl_323">impact.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_774 stl_08 stl_535" style="word-spacing:-0.033em;">As of December 31, 2024 NNIT, A/S’ net balance position (trade receivables minus trade payables) divided on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">currency amounted to a short-term outflow primarily in Euro, US dollar and Czech koruna and a short term  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6378em;"><span class="stl_774 stl_08 stl_369" style="word-spacing:-0.0335em;">inflow in Chinese Yuan. A 10% depreciation of the exchange rate of the Danish kroner against NNIT A/S’ transac</span><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0335em;">-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.471em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">tion exposures (net balance position) will have the below illustrated impact (in Danish kroner) on the net profit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3041em;"><span class="stl_202 stl_08 stl_11" style="word-spacing:-0.0264em;">before tax for the year ended December 31, 2024.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.7944em;top:11.8527em;"><span class="stl_263 stl_08 stl_96">Trade  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.5188em;top:11.8527em;"><span class="stl_263 stl_08 stl_96">Trade  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.365em;top:11.8527em;"><span class="stl_263 stl_08 stl_248" style="word-spacing:-0.0351em;">Net balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.1369em;top:11.8527em;"><span class="stl_263 stl_08 stl_211">Transaction  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1462em;top:11.8527em;"><span class="stl_263 stl_08 stl_468">10%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.6027em;"><span class="stl_263 stl_08 stl_215">Million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:13.9607em;top:12.6027em;"><span class="stl_263 stl_08 stl_321">Receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.5519em;top:12.6027em;"><span class="stl_263 stl_08 stl_492">Payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.4838em;top:12.6027em;"><span class="stl_263 stl_08 stl_246">position  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6588em;top:12.6027em;"><span class="stl_263 stl_08 stl_168">exposure</span><sup style="top: -0.2081em;"><span class="stl_870 stl_08 stl_532">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3281em;top:12.6027em;"><span class="stl_263 stl_08 stl_516">sensitivity  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:14.2077em;"><span class="stl_264 stl_08 stl_259" style="word-spacing:-0.0439em;">December 31, 2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:15.7533em;"><span class="stl_267 stl_08 stl_349">CNY  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.5912em;top:15.7533em;"><span class="stl_267 stl_08 stl_209">0.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.0987em;top:15.7533em;"><span class="stl_267 stl_08 stl_215">(0.2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.06em;top:15.7533em;"><span class="stl_267 stl_08 stl_298">1.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7843em;top:15.7533em;"><span class="stl_267 stl_08 stl_298">1.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.5231em;top:15.7533em;z-index:586;"><span class="stl_267 stl_08 stl_871">0.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:16.7633em;"><span class="stl_267 stl_08 stl_516">CZK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.28em;top:16.7633em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.96em;top:16.7633em;"><span class="stl_267 stl_08 stl_157">18.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.5018em;top:16.7633em;"><span class="stl_267 stl_08 stl_96">(18.0)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2262em;top:16.7633em;"><span class="stl_267 stl_08 stl_96">(18.0)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3193em;top:16.7633em;"><span class="stl_267 stl_08 stl_32">(1.8)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:17.7733em;"><span class="stl_267 stl_08 stl_247">CHF  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.28em;top:17.7733em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.3162em;top:17.7733em;"><span class="stl_267 stl_08 stl_209">0.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.8487em;top:17.7733em;"><span class="stl_267 stl_08 stl_131">(0.9)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5731em;top:17.7733em;"><span class="stl_267 stl_08 stl_131">(0.9)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3568em;top:17.7733em;"><span class="stl_267 stl_08 stl_872">(0.1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:18.7833em;"><span class="stl_267 stl_08 stl_27">USD  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.6275em;top:18.7833em;"><span class="stl_267 stl_08 stl_770">1.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.2987em;top:18.7833em;"><span class="stl_267 stl_08 stl_254">9.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.8493em;top:18.7833em;z-index:645;"><span class="stl_267 stl_08 stl_271">(</span><span class="stl_267 stl_08 stl_272">7</span><span class="stl_267 stl_08 stl_316">.</span><span class="stl_267 stl_08 stl_165">5)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5737em;top:18.7833em;z-index:650;"><span class="stl_267 stl_08 stl_271">(</span><span class="stl_267 stl_08 stl_272">7</span><span class="stl_267 stl_08 stl_316">.</span><span class="stl_267 stl_08 stl_165">5)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2756em;top:18.7833em;"><span class="stl_267 stl_08 stl_126">(0.8)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:19.7933em;"><span class="stl_267 stl_08 stl_173">EUR  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.6206em;top:19.7933em;z-index:663;"><span class="stl_267 stl_08 stl_729">3.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.9525em;top:19.7933em;"><span class="stl_267 stl_08 stl_133">13.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.495em;top:19.7933em;"><span class="stl_267 stl_08 stl_194">(10.2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2181em;top:19.7933em;"><span class="stl_267 stl_08 stl_194">(10.2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3262em;top:19.7933em;"><span class="stl_267 stl_08 stl_798">(1.0)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.7944em;top:22.0074em;"><span class="stl_263 stl_08 stl_96">Trade  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.5188em;top:22.0074em;"><span class="stl_263 stl_08 stl_96">Trade  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.365em;top:22.0074em;"><span class="stl_263 stl_08 stl_248" style="word-spacing:-0.0351em;">Net balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.1369em;top:22.0074em;"><span class="stl_263 stl_08 stl_211">Transaction  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1462em;top:22.0074em;"><span class="stl_263 stl_08 stl_468">10%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.7574em;"><span class="stl_263 stl_08 stl_215">Million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:13.9607em;top:22.7574em;"><span class="stl_263 stl_08 stl_321">Receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.5519em;top:22.7574em;"><span class="stl_263 stl_08 stl_492">Payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.4838em;top:22.7574em;"><span class="stl_263 stl_08 stl_246">position  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6588em;top:22.7574em;"><span class="stl_263 stl_08 stl_168">exposure</span><sup style="top: -0.2081em;"><span class="stl_870 stl_08 stl_532">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3281em;top:22.7574em;"><span class="stl_263 stl_08 stl_516">sensitivity  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:24.3624em;"><span class="stl_264 stl_08 stl_425" style="word-spacing:-0.0429em;">December 31, 2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:25.908em;"><span class="stl_267 stl_08 stl_349">CNY  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.5643em;top:25.908em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.305em;top:25.908em;"><span class="stl_267 stl_08 stl_126">0.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.8256em;top:25.908em;"><span class="stl_267 stl_08 stl_163">(0.4)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.55em;top:25.908em;"><span class="stl_267 stl_08 stl_163">(0.4)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4775em;top:25.908em;"><span class="stl_267 stl_08 stl_424">0.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:26.918em;"><span class="stl_267 stl_08 stl_516">CZK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.2793em;top:26.918em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.0643em;top:26.918em;z-index:829;"><span class="stl_267 stl_08 stl_873">11.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.6343em;top:26.918em;"><span class="stl_267 stl_08 stl_874">(11.1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3587em;top:26.918em;"><span class="stl_267 stl_08 stl_874">(11.1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3993em;top:26.918em;"><span class="stl_267 stl_08 stl_875">(1.1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:27.928em;"><span class="stl_267 stl_08 stl_247">CHF  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.5625em;top:27.928em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.3256em;top:27.928em;"><span class="stl_267 stl_08 stl_768">1.8  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.8606em;top:27.928em;"><span class="stl_267 stl_08 stl_431">(1.5)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.585em;top:27.928em;"><span class="stl_267 stl_08 stl_431">(1.5)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3556em;top:27.928em;"><span class="stl_267 stl_08 stl_872">(0.1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:28.938em;"><span class="stl_267 stl_08 stl_27">USD  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.5756em;top:28.938em;"><span class="stl_267 stl_08 stl_231">3.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.37em;top:28.938em;"><span class="stl_267 stl_08 stl_876">7.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.82em;top:28.938em;"><span class="stl_267 stl_08 stl_387">(4.3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5443em;top:28.938em;"><span class="stl_267 stl_08 stl_387">(4.3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2743em;top:28.938em;"><span class="stl_267 stl_08 stl_163">(0.4)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:29.948em;"><span class="stl_267 stl_08 stl_173">EUR  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.5756em;top:29.948em;"><span class="stl_267 stl_08 stl_231">3.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.0343em;top:29.948em;"><span class="stl_267 stl_08 stl_877">11.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.9012em;top:29.948em;"><span class="stl_267 stl_08 stl_804">(8.1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6256em;top:29.948em;"><span class="stl_267 stl_08 stl_804">(8.1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.275em;top:29.948em;"><span class="stl_267 stl_08 stl_126">(0.8)  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:30.3035em;"><span class="stl_264 stl_08 stl_203" style="word-spacing:-0.0368em;">Foreign exchange sensitivity analysis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.1366em;"><span class="stl_202 stl_08 stl_73" style="word-spacing:-0.0324em;">NNIT estimates that all other variables being constant, a 10% depreciation of the average 2024 exchange rate of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.9697em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0359em;">the Danish kroner against the following currencies would have had the indicated impact (in Danish kroner) on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.8029em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0404em;">our operating profit (EBIT) for 2024. The following sensitivity analysis addresses hypothetical situations and is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:33.636em;"><span class="stl_202 stl_08 stl_530" style="word-spacing:-0.0421em;">provided for illustrative purposes only:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:6.9716em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1733em;top:6.9716em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9295em;top:6.9716em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:8.6353em;"><span class="stl_267 stl_08 stl_173">EUR  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.1089em;top:8.6353em;"><span class="stl_267 stl_08 stl_68">(3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6958em;top:8.6353em;"><span class="stl_267 stl_08 stl_74">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:9.6453em;"><span class="stl_267 stl_08 stl_349">CNY  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.1577em;top:9.6453em;"><span class="stl_267 stl_08 stl_808">(1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.8377em;top:9.6453em;"><span class="stl_267 stl_08 stl_31">(2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:10.6553em;"><span class="stl_267 stl_08 stl_516">CZK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.1252em;top:10.6553em;"><span class="stl_267 stl_08 stl_98">(4)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.8395em;top:10.6553em;"><span class="stl_267 stl_08 stl_149">(6)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:11.6653em;"><span class="stl_267 stl_08 stl_27">USD  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.312em;top:11.6653em;"><span class="stl_267 stl_08 stl_19">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.7077em;top:11.6653em;"><span class="stl_267 stl_08 stl_819">12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:12.6753em;"><span class="stl_267 stl_08 stl_247">CHF  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.312em;top:12.6753em;"><span class="stl_267 stl_08 stl_19">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1927em;top:12.6753em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:13.6853em;"><span class="stl_267 stl_08 stl_422">PHP  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.107em;top:13.6853em;"><span class="stl_267 stl_08 stl_227">(5)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.8464em;top:13.6853em;"><span class="stl_267 stl_08 stl_331">(9)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:15.2966em;"><span class="stl_202 stl_08 stl_249" style="word-spacing:-0.0348em;">A corresponding appreciation of the Danish kroner against the above currencies would have had the opposite  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.7402em;top:16.1297em;"><span class="stl_202 stl_08 stl_323">impact.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9716em;"><span class="stl_774 stl_08 stl_535" style="word-spacing:-0.033em;">As of December 31, 2024 NNIT, A/S’ net balance position (trade receivables minus trade payables) divided on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.8047em;"><span class="stl_202 stl_08 stl_244" style="word-spacing:-0.0379em;">currency amounted to a short-term outflow primarily in Euro, US dollar and Czech koruna and a short term  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6378em;"><span class="stl_774 stl_08 stl_369" style="word-spacing:-0.0335em;">inflow in Chinese Yuan. A 10% depreciation of the exchange rate of the Danish kroner against NNIT A/S’ transac</span><span class="stl_202 stl_08 stl_369" style="word-spacing:-0.0335em;">-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:9.471em;"><span class="stl_202 stl_08 stl_201" style="word-spacing:-0.0358em;">tion exposures (net balance position) will have the below illustrated impact (in Danish kroner) on the net profit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3041em;"><span class="stl_202 stl_08 stl_11" style="word-spacing:-0.0264em;">before tax for the year ended December 31, 2024.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.7944em;top:11.8527em;"><span class="stl_263 stl_08 stl_96">Trade  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.5188em;top:11.8527em;"><span class="stl_263 stl_08 stl_96">Trade  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.365em;top:11.8527em;"><span class="stl_263 stl_08 stl_248" style="word-spacing:-0.0351em;">Net balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.1369em;top:11.8527em;"><span class="stl_263 stl_08 stl_211">Transaction  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1462em;top:11.8527em;"><span class="stl_263 stl_08 stl_468">10%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.6027em;"><span class="stl_263 stl_08 stl_215">Million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:13.9607em;top:12.6027em;"><span class="stl_263 stl_08 stl_321">Receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.5519em;top:12.6027em;"><span class="stl_263 stl_08 stl_492">Payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.4838em;top:12.6027em;"><span class="stl_263 stl_08 stl_246">position  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6588em;top:12.6027em;"><span class="stl_263 stl_08 stl_168">exposure</span><sup style="top: -0.2081em;"><span class="stl_870 stl_08 stl_532">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3281em;top:12.6027em;"><span class="stl_263 stl_08 stl_516">sensitivity  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:14.2077em;"><span class="stl_264 stl_08 stl_259" style="word-spacing:-0.0439em;">December 31, 2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:15.7533em;"><span class="stl_267 stl_08 stl_349">CNY  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.5912em;top:15.7533em;"><span class="stl_267 stl_08 stl_209">0.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.0987em;top:15.7533em;"><span class="stl_267 stl_08 stl_215">(0.2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.06em;top:15.7533em;"><span class="stl_267 stl_08 stl_298">1.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7843em;top:15.7533em;"><span class="stl_267 stl_08 stl_298">1.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.5231em;top:15.7533em;z-index:586;"><span class="stl_267 stl_08 stl_871">0.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:16.7633em;"><span class="stl_267 stl_08 stl_516">CZK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.28em;top:16.7633em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.96em;top:16.7633em;"><span class="stl_267 stl_08 stl_157">18.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.5018em;top:16.7633em;"><span class="stl_267 stl_08 stl_96">(18.0)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2262em;top:16.7633em;"><span class="stl_267 stl_08 stl_96">(18.0)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3193em;top:16.7633em;"><span class="stl_267 stl_08 stl_32">(1.8)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:17.7733em;"><span class="stl_267 stl_08 stl_247">CHF  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.28em;top:17.7733em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.3162em;top:17.7733em;"><span class="stl_267 stl_08 stl_209">0.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.8487em;top:17.7733em;"><span class="stl_267 stl_08 stl_131">(0.9)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5731em;top:17.7733em;"><span class="stl_267 stl_08 stl_131">(0.9)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3568em;top:17.7733em;"><span class="stl_267 stl_08 stl_872">(0.1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7256em;top:18.7833em;"><span class="stl_267 stl_08 stl_27">USD  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.6275em;top:18.7833em;"><span class="stl_267 stl_08 stl_770">1.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.2987em;top:18.7833em;"><span class="stl_267 stl_08 stl_254">9.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.8493em;top:18.7833em;z-index:645;"><span class="stl_267 stl_08 stl_271">(</span><span class="stl_267 stl_08 stl_272">7</span><span class="stl_267 stl_08 stl_316">.</span><span class="stl_267 stl_08 stl_165">5)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5737em;top:18.7833em;z-index:650;"><span class="stl_267 stl_08 stl_271">(</span><span class="stl_267 stl_08 stl_272">7</span><span class="stl_267 stl_08 stl_316">.</span><span class="stl_267 stl_08 stl_165">5)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2756em;top:18.7833em;"><span class="stl_267 stl_08 stl_126">(0.8)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:19.7933em;"><span class="stl_267 stl_08 stl_173">EUR  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.6206em;top:19.7933em;z-index:663;"><span class="stl_267 stl_08 stl_729">3.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.9525em;top:19.7933em;"><span class="stl_267 stl_08 stl_133">13.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.495em;top:19.7933em;"><span class="stl_267 stl_08 stl_194">(10.2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2181em;top:19.7933em;"><span class="stl_267 stl_08 stl_194">(10.2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3262em;top:19.7933em;"><span class="stl_267 stl_08 stl_798">(1.0)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.7944em;top:22.0074em;"><span class="stl_263 stl_08 stl_96">Trade  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.5188em;top:22.0074em;"><span class="stl_263 stl_08 stl_96">Trade  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.365em;top:22.0074em;"><span class="stl_263 stl_08 stl_248" style="word-spacing:-0.0351em;">Net balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.1369em;top:22.0074em;"><span class="stl_263 stl_08 stl_211">Transaction  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1462em;top:22.0074em;"><span class="stl_263 stl_08 stl_468">10%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:22.7574em;"><span class="stl_263 stl_08 stl_215">Million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:13.9607em;top:22.7574em;"><span class="stl_263 stl_08 stl_321">Receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.5519em;top:22.7574em;"><span class="stl_263 stl_08 stl_492">Payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.4838em;top:22.7574em;"><span class="stl_263 stl_08 stl_246">position  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6588em;top:22.7574em;"><span class="stl_263 stl_08 stl_168">exposure</span><sup style="top: -0.2081em;"><span class="stl_870 stl_08 stl_532">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3281em;top:22.7574em;"><span class="stl_263 stl_08 stl_516">sensitivity  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:24.3624em;"><span class="stl_264 stl_08 stl_425" style="word-spacing:-0.0429em;">December 31, 2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:25.908em;"><span class="stl_267 stl_08 stl_349">CNY  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.5643em;top:25.908em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.305em;top:25.908em;"><span class="stl_267 stl_08 stl_126">0.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.8256em;top:25.908em;"><span class="stl_267 stl_08 stl_163">(0.4)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.55em;top:25.908em;"><span class="stl_267 stl_08 stl_163">(0.4)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4775em;top:25.908em;"><span class="stl_267 stl_08 stl_424">0.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:26.918em;"><span class="stl_267 stl_08 stl_516">CZK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.2793em;top:26.918em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.0643em;top:26.918em;z-index:829;"><span class="stl_267 stl_08 stl_873">11.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.6343em;top:26.918em;"><span class="stl_267 stl_08 stl_874">(11.1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3587em;top:26.918em;"><span class="stl_267 stl_08 stl_874">(11.1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3993em;top:26.918em;"><span class="stl_267 stl_08 stl_875">(1.1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:27.928em;"><span class="stl_267 stl_08 stl_247">CHF  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.5625em;top:27.928em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.3256em;top:27.928em;"><span class="stl_267 stl_08 stl_768">1.8  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.8606em;top:27.928em;"><span class="stl_267 stl_08 stl_431">(1.5)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.585em;top:27.928em;"><span class="stl_267 stl_08 stl_431">(1.5)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3556em;top:27.928em;"><span class="stl_267 stl_08 stl_872">(0.1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:28.938em;"><span class="stl_267 stl_08 stl_27">USD  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.5756em;top:28.938em;"><span class="stl_267 stl_08 stl_231">3.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.37em;top:28.938em;"><span class="stl_267 stl_08 stl_876">7.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.82em;top:28.938em;"><span class="stl_267 stl_08 stl_387">(4.3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5443em;top:28.938em;"><span class="stl_267 stl_08 stl_387">(4.3)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2743em;top:28.938em;"><span class="stl_267 stl_08 stl_163">(0.4)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:29.948em;"><span class="stl_267 stl_08 stl_173">EUR  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.5756em;top:29.948em;"><span class="stl_267 stl_08 stl_231">3.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.0343em;top:29.948em;"><span class="stl_267 stl_08 stl_877">11.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.9012em;top:29.948em;"><span class="stl_267 stl_08 stl_804">(8.1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6256em;top:29.948em;"><span class="stl_267 stl_08 stl_804">(8.1)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.275em;top:29.948em;"><span class="stl_267 stl_08 stl_126">(0.8)  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:23.6374em;"><span class="stl_264 stl_08 stl_492" style="word-spacing:-0.0329em;">Capital management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:24.4705em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.0401em;">NNIT monitors capital on the basis of the solvency ratio, which is calculated on the basis of the total equity as a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.74em;top:25.3036em;"><span class="stl_202 stl_08 stl_211" style="word-spacing:-0.0314em;">percentage of the total equity and liabilities. At the end of the year, the solvency ratio was 51.0% (2023: 40.4%).  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_183" style="word-spacing:0.008em;">5.2 Fee to statutory auditors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:6.9785em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1107em;top:6.9785em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8669em;top:6.9785em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:8.6423em;"><span class="stl_267 stl_08 stl_92" style="word-spacing:-0.0499em;">Statutory audit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7219em;top:8.6423em;"><span class="stl_267 stl_08 stl_194">1.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4294em;top:8.6423em;"><span class="stl_267 stl_08 stl_535">2.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:9.6523em;"><span class="stl_267 stl_08 stl_320" style="word-spacing:-0.0382em;">Other assurance engagements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7288em;top:9.6523em;"><span class="stl_267 stl_08 stl_433">1.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4763em;top:9.6523em;z-index:105;"><span class="stl_267 stl_08 stl_871">0.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:10.6623em;"><span class="stl_267 stl_08 stl_356" style="word-spacing:-0.0471em;">Tax advisory services  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6907em;top:10.6623em;"><span class="stl_267 stl_08 stl_525">0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4463em;top:10.6623em;"><span class="stl_267 stl_08 stl_194">1.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:11.6723em;"><span class="stl_267 stl_08 stl_349" style="word-spacing:-0.0523em;">Other services  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6888em;top:11.6723em;"><span class="stl_267 stl_08 stl_392">0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4444em;top:11.6723em;"><span class="stl_267 stl_08 stl_419">1.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:12.6823em;"><span class="stl_264 stl_08 stl_369" style="word-spacing:-0.033em;">Total fee to statutory auditors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6794em;top:12.6823em;"><span class="stl_274 stl_08 stl_591">3.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3919em;top:12.6823em;"><span class="stl_274 stl_08 stl_310">5.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:14.2935em;"><span class="stl_202 stl_08 stl_308" style="word-spacing:-0.0447em;">Fees for services other than the statutory audit of the financial statements provided by EY Godkendt Revi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:15.1266em;"><span class="stl_202 stl_08 stl_248" style="word-spacing:-0.0346em;">sionspartnerselskab Denmark amounted to DKK 1.7 million including other assurance engagements and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:15.9598em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.04em;">other services. Fees for other assurance engagements include IT assurance reports and limited assurance on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:16.7929em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0378em;">sustainability reporting. Fees for 2023 relates to the Group's former auditor PricewaterhouseCoopers Statsau-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:17.626em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.0391em;">toriseret Revisionspartnerselskab.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:16.5552em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.04em;">The increase is primarily related to cost in connection with new office rental agreements.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:18.2221em;"><span class="stl_774 stl_08 stl_229" style="word-spacing:-0.0405em;">NNIT and its Danish subsidiary SCALES A/S are jointly taxed with the Danish companies in the Novo Group.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:19.0552em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0376em;">The Danish companies are jointly and individually liable for the joint taxation. Any subsequent adjustments to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:19.8883em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0362em;">income taxes and withholding taxes may lead to a larger liability. The tax for the individual companies is allo-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:20.7214em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0382em;">cated in full on the basis of the expected taxable income.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:22.3883em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.039em;">The Group will from time to time receive inquiries from local tax authorities and be part of various legal  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:23.2214em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.039em;">disputes. Based on present knowledge the outcome is not expected to impact the Group’s financial position  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:24.0546em;"><span class="stl_202 stl_08 stl_280">significantly.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_51" style="word-spacing:-0.0024em;">5.5 Contingent liabilities, other contractual obligations and legal proceedings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_264 stl_08 stl_340" style="word-spacing:-0.0337em;">Other contractual obligations expiring within the following periods from balance sheet date  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6452em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:8.6452em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:8.6452em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3089em;"><span class="stl_267 stl_08 stl_256" style="word-spacing:-0.0399em;">Within 1 year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.98em;top:10.3089em;"><span class="stl_267 stl_08 stl_810">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6838em;top:10.3089em;"><span class="stl_267 stl_08 stl_286">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.3189em;"><span class="stl_267 stl_08 stl_514" style="word-spacing:-0.0465em;">Between 1 and 5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.93em;top:11.3189em;"><span class="stl_267 stl_08 stl_58">42  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:11.3189em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.3289em;"><span class="stl_267 stl_08 stl_351" style="word-spacing:-0.0502em;">After 5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.93em;top:12.3289em;"><span class="stl_267 stl_08 stl_58">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:12.3289em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.3389em;"><span class="stl_264 stl_08 stl_157">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.91em;top:13.3389em;"><span class="stl_274 stl_08 stl_637">90  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6369em;top:13.3389em;"><span class="stl_274 stl_08 stl_851">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.9439em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.0384em;">Other contractual obligations recognized as an expense  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:14.9439em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.65em;top:14.9439em;"><span class="stl_267 stl_08 stl_268">28  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:16.5552em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.04em;">The increase is primarily related to cost in connection with new office rental agreements.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:18.2221em;"><span class="stl_774 stl_08 stl_229" style="word-spacing:-0.0405em;">NNIT and its Danish subsidiary SCALES A/S are jointly taxed with the Danish companies in the Novo Group.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:19.0552em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0376em;">The Danish companies are jointly and individually liable for the joint taxation. Any subsequent adjustments to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:19.8883em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0362em;">income taxes and withholding taxes may lead to a larger liability. The tax for the individual companies is allo-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:20.7214em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0382em;">cated in full on the basis of the expected taxable income.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:22.3883em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.039em;">The Group will from time to time receive inquiries from local tax authorities and be part of various legal  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:23.2214em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.039em;">disputes. Based on present knowledge the outcome is not expected to impact the Group’s financial position  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:24.0546em;"><span class="stl_202 stl_08 stl_280">significantly.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_51" style="word-spacing:-0.0024em;">5.5 Contingent liabilities, other contractual obligations and legal proceedings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_264 stl_08 stl_340" style="word-spacing:-0.0337em;">Other contractual obligations expiring within the following periods from balance sheet date  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6452em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:8.6452em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:8.6452em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3089em;"><span class="stl_267 stl_08 stl_256" style="word-spacing:-0.0399em;">Within 1 year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.98em;top:10.3089em;"><span class="stl_267 stl_08 stl_810">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6838em;top:10.3089em;"><span class="stl_267 stl_08 stl_286">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.3189em;"><span class="stl_267 stl_08 stl_514" style="word-spacing:-0.0465em;">Between 1 and 5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.93em;top:11.3189em;"><span class="stl_267 stl_08 stl_58">42  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:11.3189em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.3289em;"><span class="stl_267 stl_08 stl_351" style="word-spacing:-0.0502em;">After 5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.93em;top:12.3289em;"><span class="stl_267 stl_08 stl_58">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:12.3289em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.3389em;"><span class="stl_264 stl_08 stl_157">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.91em;top:13.3389em;"><span class="stl_274 stl_08 stl_637">90  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6369em;top:13.3389em;"><span class="stl_274 stl_08 stl_851">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.9439em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.0384em;">Other contractual obligations recognized as an expense  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:14.9439em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.65em;top:14.9439em;"><span class="stl_267 stl_08 stl_268">28  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:16.5552em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.04em;">The increase is primarily related to cost in connection with new office rental agreements.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:18.2221em;"><span class="stl_774 stl_08 stl_229" style="word-spacing:-0.0405em;">NNIT and its Danish subsidiary SCALES A/S are jointly taxed with the Danish companies in the Novo Group.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:19.0552em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0376em;">The Danish companies are jointly and individually liable for the joint taxation. Any subsequent adjustments to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:19.8883em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0362em;">income taxes and withholding taxes may lead to a larger liability. The tax for the individual companies is allo-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:20.7214em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0382em;">cated in full on the basis of the expected taxable income.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:22.3883em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.039em;">The Group will from time to time receive inquiries from local tax authorities and be part of various legal  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:23.2214em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.039em;">disputes. Based on present knowledge the outcome is not expected to impact the Group’s financial position  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:24.0546em;"><span class="stl_202 stl_08 stl_280">significantly.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_51" style="word-spacing:-0.0024em;">5.5 Contingent liabilities, other contractual obligations and legal proceedings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_264 stl_08 stl_340" style="word-spacing:-0.0337em;">Other contractual obligations expiring within the following periods from balance sheet date  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6452em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:8.6452em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:8.6452em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3089em;"><span class="stl_267 stl_08 stl_256" style="word-spacing:-0.0399em;">Within 1 year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.98em;top:10.3089em;"><span class="stl_267 stl_08 stl_810">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6838em;top:10.3089em;"><span class="stl_267 stl_08 stl_286">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.3189em;"><span class="stl_267 stl_08 stl_514" style="word-spacing:-0.0465em;">Between 1 and 5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.93em;top:11.3189em;"><span class="stl_267 stl_08 stl_58">42  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:11.3189em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.3289em;"><span class="stl_267 stl_08 stl_351" style="word-spacing:-0.0502em;">After 5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.93em;top:12.3289em;"><span class="stl_267 stl_08 stl_58">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:12.3289em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.3389em;"><span class="stl_264 stl_08 stl_157">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.91em;top:13.3389em;"><span class="stl_274 stl_08 stl_637">90  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6369em;top:13.3389em;"><span class="stl_274 stl_08 stl_851">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.9439em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.0384em;">Other contractual obligations recognized as an expense  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:14.9439em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.65em;top:14.9439em;"><span class="stl_267 stl_08 stl_268">28  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:16.5552em;"><span class="stl_202 stl_08 stl_256" style="word-spacing:-0.04em;">The increase is primarily related to cost in connection with new office rental agreements.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:18.2221em;"><span class="stl_774 stl_08 stl_229" style="word-spacing:-0.0405em;">NNIT and its Danish subsidiary SCALES A/S are jointly taxed with the Danish companies in the Novo Group.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:19.0552em;"><span class="stl_202 stl_08 stl_529" style="word-spacing:-0.0376em;">The Danish companies are jointly and individually liable for the joint taxation. Any subsequent adjustments to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:19.8883em;"><span class="stl_202 stl_08 stl_237" style="word-spacing:-0.0362em;">income taxes and withholding taxes may lead to a larger liability. The tax for the individual companies is allo-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:20.7214em;"><span class="stl_202 stl_08 stl_236" style="word-spacing:-0.0382em;">cated in full on the basis of the expected taxable income.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:22.3883em;"><span class="stl_202 stl_08 stl_121" style="word-spacing:-0.039em;">The Group will from time to time receive inquiries from local tax authorities and be part of various legal  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:23.2214em;"><span class="stl_202 stl_08 stl_253" style="word-spacing:-0.039em;">disputes. Based on present knowledge the outcome is not expected to impact the Group’s financial position  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.725em;top:24.0546em;"><span class="stl_202 stl_08 stl_280">significantly.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:5.658em;"><span class="stl_527 stl_08 stl_51" style="word-spacing:-0.0024em;">5.5 Contingent liabilities, other contractual obligations and legal proceedings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_264 stl_08 stl_340" style="word-spacing:-0.0337em;">Other contractual obligations expiring within the following periods from balance sheet date  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:8.6452em;"><span class="stl_263 stl_08 stl_237" style="word-spacing:-0.0361em;">DKK million  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1575em;top:8.6452em;"><span class="stl_264 stl_08 stl_265">2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9138em;top:8.6452em;"><span class="stl_263 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:10.3089em;"><span class="stl_267 stl_08 stl_256" style="word-spacing:-0.0399em;">Within 1 year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.98em;top:10.3089em;"><span class="stl_267 stl_08 stl_810">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6838em;top:10.3089em;"><span class="stl_267 stl_08 stl_286">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:11.3189em;"><span class="stl_267 stl_08 stl_514" style="word-spacing:-0.0465em;">Between 1 and 5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.93em;top:11.3189em;"><span class="stl_267 stl_08 stl_58">42  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.0207em;top:11.3189em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:12.3289em;"><span class="stl_267 stl_08 stl_351" style="word-spacing:-0.0502em;">After 5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.93em;top:12.3289em;"><span class="stl_267 stl_08 stl_58">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1769em;top:12.3289em;"><span class="stl_267 stl_08 stl_19">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:13.3389em;"><span class="stl_264 stl_08 stl_157">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.91em;top:13.3389em;"><span class="stl_274 stl_08 stl_637">90  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6369em;top:13.3389em;"><span class="stl_274 stl_08 stl_851">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:14.9439em;"><span class="stl_267 stl_08 stl_236" style="word-spacing:-0.0384em;">Other contractual obligations recognized as an expense  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2963em;top:14.9439em;"><span class="stl_267 stl_08 stl_19">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.65em;top:14.9439em;"><span class="stl_267 stl_08 stl_268">28  </span></div> Novo Holdings A/S Novo Nordisk Foundation <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_264 stl_08 stl_387" style="word-spacing:-0.0335em;">Companies in the NNIT Group:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.2345em;top:7.8119em;"><span class="stl_264 stl_08 stl_364" style="word-spacing:-0.0079em;">Year of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.7589em;top:7.8119em;"><span class="stl_264 stl_08 stl_411">Percentage  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7651em;top:8.5619em;"><span class="stl_264 stl_08 stl_369">incorporation/  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3001em;top:8.5619em;"><span class="stl_264 stl_08 stl_227">Share  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.457em;top:8.5619em;"><span class="stl_264 stl_08 stl_531" style="word-spacing:-0.0345em;">of shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.6639em;top:9.3119em;"><span class="stl_264 stl_08 stl_230">Country  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.8951em;top:9.3119em;"><span class="stl_264 stl_08 stl_535">acquisition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9345em;top:9.3119em;"><span class="stl_264 stl_08 stl_248">capital  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.2339em;top:9.3119em;"><span class="stl_264 stl_08 stl_226">owned  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7245em;top:10.9756em;"><span class="stl_267 stl_08 stl_248" style="word-spacing:-0.035em;">NNIT (Tianjin Technology Co. Ltd.)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.5489em;top:10.9756em;"><span class="stl_267 stl_08 stl_411">China  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.9858em;top:10.9756em;"><span class="stl_267 stl_08 stl_268">2007  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.4026em;top:10.9756em;"><span class="stl_267 stl_08 stl_349" style="word-spacing:-0.053em;">CNY 10,804,229  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2958em;top:10.9756em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7251em;top:11.9856em;"><span class="stl_267 stl_08 stl_229" style="word-spacing:-0.0405em;">NNIT Switzerland AG  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.7445em;top:11.9856em;"><span class="stl_267 stl_08 stl_530">Switzerland  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0345em;top:11.9856em;"><span class="stl_267 stl_08 stl_587">2010  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.372em;top:11.9856em;"><span class="stl_267 stl_08 stl_428" style="word-spacing:-0.0465em;">CHF 100,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2951em;top:11.9856em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7245em;top:12.9956em;"><span class="stl_267 stl_08 stl_532" style="word-spacing:-0.0407em;">NNIT Germany GmbH  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.4945em;top:12.9956em;"><span class="stl_267 stl_08 stl_229">Germany  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0583em;top:12.9956em;"><span class="stl_267 stl_08 stl_556">2011  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.717em;top:12.9956em;"><span class="stl_267 stl_08 stl_518" style="word-spacing:-0.0534em;">EUR 25,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2951em;top:12.9956em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7245em;top:14.0056em;"><span class="stl_267 stl_08 stl_254" style="word-spacing:-0.0402em;">NNIT Inc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.037em;top:14.0056em;"><span class="stl_267 stl_08 stl_252">USA  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0589em;top:14.0056em;"><span class="stl_267 stl_08 stl_556">2011  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.8008em;top:14.0056em;"><span class="stl_267 stl_08 stl_269" style="word-spacing:-0.032em;">USD 3,251,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2958em;top:14.0056em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7251em;top:15.0156em;"><span class="stl_267 stl_08 stl_10" style="word-spacing:-0.02em;">NNIT UK Ltd.</span><sup style="top: -0.209em;"><span class="stl_281 stl_08 stl_531" style="word-spacing:-0.0343em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.4093em;top:15.0147em;"><span class="stl_267 stl_08 stl_529">UK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.043em;top:15.0147em;"><span class="stl_267 stl_08 stl_360">2015  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6587em;top:15.0147em;"><span class="stl_267 stl_08 stl_855" style="word-spacing:-0.0589em;">GBP 50,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2949em;top:15.0147em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:16.0247em;"><span class="stl_267 stl_08 stl_740" style="word-spacing:-0.0734em;">SCALES A/S  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.483em;top:16.0247em;"><span class="stl_267 stl_08 stl_121">Denmark  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0455em;top:16.0247em;"><span class="stl_267 stl_08 stl_452">2017  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.2812em;top:16.0247em;"><span class="stl_267 stl_08 stl_609" style="word-spacing:-0.0656em;">DKK 600,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2955em;top:16.0247em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7249em;top:17.0347em;"><span class="stl_267 stl_08 stl_231" style="word-spacing:-0.0364em;">NNIT Ireland Ltd  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.1437em;top:17.0347em;"><span class="stl_267 stl_08 stl_340">Ireland  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0387em;top:17.0347em;"><span class="stl_267 stl_08 stl_798">2018  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6743em;top:17.0347em;"><span class="stl_267 stl_08 stl_388" style="word-spacing:-0.0231em;">EUR 100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2955em;top:17.0347em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7249em;top:18.0447em;"><span class="stl_267 stl_08 stl_58" style="word-spacing:-0.0282em;">NNIT Poland Sp. Z o.o.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.183em;top:18.0447em;"><span class="stl_267 stl_08 stl_186">Poland  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0437em;top:18.0447em;"><span class="stl_267 stl_08 stl_360">2019  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.1049em;top:18.0447em;"><span class="stl_267 stl_08 stl_516" style="word-spacing:-0.0562em;">PLN 5,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2955em;top:18.0447em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7249em;top:19.0547em;"><span class="stl_267 stl_08 stl_234" style="word-spacing:-0.0376em;">NNIT Singapore Holdings Pte. Ltd.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2355em;top:19.0547em;"><span class="stl_267 stl_08 stl_34">Singapore  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0437em;top:19.0547em;"><span class="stl_267 stl_08 stl_360">2019  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.2705em;top:19.0547em;"><span class="stl_267 stl_08 stl_442" style="word-spacing:-0.0568em;">SGD 546,278  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2955em;top:19.0547em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7249em;top:20.0647em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0374em;">NNIT Singapore Pte. Ltd.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2355em;top:20.0647em;"><span class="stl_267 stl_08 stl_34">Singapore  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0437em;top:20.0647em;"><span class="stl_267 stl_08 stl_360">2019  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6749em;top:20.0647em;"><span class="stl_267 stl_08 stl_259" style="word-spacing:-0.0437em;">SGD 66,700  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2962em;top:20.0647em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7255em;top:21.0747em;"><span class="stl_267 stl_08 stl_255" style="word-spacing:-0.0365em;">Excellis Health Solutions LLC  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.038em;top:21.0747em;"><span class="stl_267 stl_08 stl_252">USA  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0068em;top:21.0747em;"><span class="stl_267 stl_08 stl_174">2020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.2818em;top:21.0747em;"><span class="stl_267 stl_08 stl_412" style="word-spacing:-0.0521em;">USD 250,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2968em;top:21.0747em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7262em;top:22.0847em;"><span class="stl_267 stl_08 stl_245" style="word-spacing:-0.0349em;">Excellis Europe Ltd.</span><sup style="top: -0.2102em;"><span class="stl_281 stl_08 stl_782" style="word-spacing:-0.0599em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.4095em;top:22.0827em;"><span class="stl_267 stl_08 stl_529">UK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0057em;top:22.0827em;"><span class="stl_267 stl_08 stl_174">2020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6157em;top:22.0827em;"><span class="stl_267 stl_08 stl_215" style="word-spacing:-0.0315em;">GBP 100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2957em;top:22.0827em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7251em;top:23.0927em;"><span class="stl_267 stl_08 stl_492" style="word-spacing:-0.0339em;">SL Controls Ltd.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.1439em;top:23.0927em;"><span class="stl_267 stl_08 stl_340">Ireland  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0158em;top:23.0927em;"><span class="stl_267 stl_08 stl_209">2021  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6751em;top:23.0927em;"><span class="stl_267 stl_08 stl_388" style="word-spacing:-0.0231em;">EUR 100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2964em;top:23.0927em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:24.1027em;"><span class="stl_267 stl_08 stl_201" style="word-spacing:-0.036em;">SL Controls USA Inc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.0383em;top:24.1027em;"><span class="stl_267 stl_08 stl_252">USA  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0164em;top:24.1027em;"><span class="stl_267 stl_08 stl_209">2021  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6526em;top:24.1027em;"><span class="stl_267 stl_08 stl_607" style="word-spacing:-0.0537em;">USD 60,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.297em;top:24.1027em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7264em;top:25.1127em;"><span class="stl_267 stl_08 stl_492" style="word-spacing:-0.0334em;">NNIT Italy S.r.l  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.9751em;top:25.1127em;"><span class="stl_267 stl_08 stl_591">Italy  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.9951em;top:25.1127em;"><span class="stl_267 stl_08 stl_266">2022  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7089em;top:25.1127em;"><span class="stl_267 stl_08 stl_582" style="word-spacing:-0.0582em;">EUR 40,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.297em;top:25.1127em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7264em;top:26.1226em;"><span class="stl_267 stl_08 stl_492" style="word-spacing:-0.033em;">NNIT España Consultoria Tecnologica  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7264em;top:26.9558em;"><span class="stl_267 stl_08 stl_321" style="word-spacing:-0.0394em;">y de la informaction siciedad limitada  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.6014em;top:26.9558em;"><span class="stl_267 stl_08 stl_201">Spain  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.9958em;top:26.9558em;"><span class="stl_267 stl_08 stl_266">2022  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7195em;top:26.9558em;"><span class="stl_267 stl_08 stl_318" style="word-spacing:-0.0537em;">EUR 50,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2976em;top:26.9558em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.727em;top:27.9658em;"><span class="stl_267 stl_08 stl_58" style="word-spacing:-0.0281em;">NNIT Czech Republic 2022 s.r.o.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.7564em;top:27.9658em;"><span class="stl_267 stl_08 stl_201" style="word-spacing:-0.0357em;">Czech Republic  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.9951em;top:27.9658em;"><span class="stl_267 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.387em;top:27.9658em;"><span class="stl_267 stl_08 stl_501" style="word-spacing:-0.0594em;">CZK 450,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2976em;top:27.9658em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.727em;top:28.9758em;"><span class="stl_267 stl_08 stl_91" style="word-spacing:-0.0424em;">NNIT Digital &amp; Life Sciences  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.727em;top:29.8089em;"><span class="stl_267 stl_08 stl_72" style="word-spacing:-0.0337em;">Philippines Inc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.9658em;top:29.8089em;"><span class="stl_267 stl_08 stl_257">Philippines  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.9951em;top:29.8089em;"><span class="stl_267 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.4883em;top:29.8089em;"><span class="stl_267 stl_08 stl_163" style="word-spacing:-0.0285em;">PHP 11,200,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2983em;top:29.8089em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.3026em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_90" style="word-spacing:-0.0513em;">ꢀNNIT UK Limited, registration number 09399926, is exempt from the UK requirements relating to the audit of financial statements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.1968em;top:31.8861em;"><span class="stl_350 stl_08 stl_607" style="word-spacing:-0.0537em;">under section 479A of the Companies Act 2006.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.4693em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">2</span></sup><span class="stl_347 stl_08 stl_239" style="word-spacing:-0.0489em;">ꢀExcellis Europe Ltd., registration number 09184253, is exempt from the UK requirements relating to the audit of financial statements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.1968em;top:33.0528em;"><span class="stl_350 stl_08 stl_607" style="word-spacing:-0.0537em;">under section 479A of the Companies Act 2006.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:7.0974em;"><span class="stl_264 stl_08 stl_387" style="word-spacing:-0.0335em;">Companies in the NNIT Group:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.2345em;top:7.8119em;"><span class="stl_264 stl_08 stl_364" style="word-spacing:-0.0079em;">Year of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.7589em;top:7.8119em;"><span class="stl_264 stl_08 stl_411">Percentage  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7651em;top:8.5619em;"><span class="stl_264 stl_08 stl_369">incorporation/  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3001em;top:8.5619em;"><span class="stl_264 stl_08 stl_227">Share  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.457em;top:8.5619em;"><span class="stl_264 stl_08 stl_531" style="word-spacing:-0.0345em;">of shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.6639em;top:9.3119em;"><span class="stl_264 stl_08 stl_230">Country  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.8951em;top:9.3119em;"><span class="stl_264 stl_08 stl_535">acquisition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9345em;top:9.3119em;"><span class="stl_264 stl_08 stl_248">capital  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.2339em;top:9.3119em;"><span class="stl_264 stl_08 stl_226">owned  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7245em;top:10.9756em;"><span class="stl_267 stl_08 stl_248" style="word-spacing:-0.035em;">NNIT (Tianjin Technology Co. Ltd.)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.5489em;top:10.9756em;"><span class="stl_267 stl_08 stl_411">China  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.9858em;top:10.9756em;"><span class="stl_267 stl_08 stl_268">2007  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.4026em;top:10.9756em;"><span class="stl_267 stl_08 stl_349" style="word-spacing:-0.053em;">CNY 10,804,229  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2958em;top:10.9756em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7251em;top:11.9856em;"><span class="stl_267 stl_08 stl_229" style="word-spacing:-0.0405em;">NNIT Switzerland AG  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.7445em;top:11.9856em;"><span class="stl_267 stl_08 stl_530">Switzerland  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0345em;top:11.9856em;"><span class="stl_267 stl_08 stl_587">2010  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.372em;top:11.9856em;"><span class="stl_267 stl_08 stl_428" style="word-spacing:-0.0465em;">CHF 100,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2951em;top:11.9856em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7245em;top:12.9956em;"><span class="stl_267 stl_08 stl_532" style="word-spacing:-0.0407em;">NNIT Germany GmbH  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.4945em;top:12.9956em;"><span class="stl_267 stl_08 stl_229">Germany  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0583em;top:12.9956em;"><span class="stl_267 stl_08 stl_556">2011  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.717em;top:12.9956em;"><span class="stl_267 stl_08 stl_518" style="word-spacing:-0.0534em;">EUR 25,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2951em;top:12.9956em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7245em;top:14.0056em;"><span class="stl_267 stl_08 stl_254" style="word-spacing:-0.0402em;">NNIT Inc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.037em;top:14.0056em;"><span class="stl_267 stl_08 stl_252">USA  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0589em;top:14.0056em;"><span class="stl_267 stl_08 stl_556">2011  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.8008em;top:14.0056em;"><span class="stl_267 stl_08 stl_269" style="word-spacing:-0.032em;">USD 3,251,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2958em;top:14.0056em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7251em;top:15.0156em;"><span class="stl_267 stl_08 stl_10" style="word-spacing:-0.02em;">NNIT UK Ltd.</span><sup style="top: -0.209em;"><span class="stl_281 stl_08 stl_531" style="word-spacing:-0.0343em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.4093em;top:15.0147em;"><span class="stl_267 stl_08 stl_529">UK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.043em;top:15.0147em;"><span class="stl_267 stl_08 stl_360">2015  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6587em;top:15.0147em;"><span class="stl_267 stl_08 stl_855" style="word-spacing:-0.0589em;">GBP 50,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2949em;top:15.0147em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7243em;top:16.0247em;"><span class="stl_267 stl_08 stl_740" style="word-spacing:-0.0734em;">SCALES A/S  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.483em;top:16.0247em;"><span class="stl_267 stl_08 stl_121">Denmark  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0455em;top:16.0247em;"><span class="stl_267 stl_08 stl_452">2017  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.2812em;top:16.0247em;"><span class="stl_267 stl_08 stl_609" style="word-spacing:-0.0656em;">DKK 600,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2955em;top:16.0247em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7249em;top:17.0347em;"><span class="stl_267 stl_08 stl_231" style="word-spacing:-0.0364em;">NNIT Ireland Ltd  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.1437em;top:17.0347em;"><span class="stl_267 stl_08 stl_340">Ireland  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0387em;top:17.0347em;"><span class="stl_267 stl_08 stl_798">2018  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6743em;top:17.0347em;"><span class="stl_267 stl_08 stl_388" style="word-spacing:-0.0231em;">EUR 100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2955em;top:17.0347em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7249em;top:18.0447em;"><span class="stl_267 stl_08 stl_58" style="word-spacing:-0.0282em;">NNIT Poland Sp. Z o.o.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.183em;top:18.0447em;"><span class="stl_267 stl_08 stl_186">Poland  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0437em;top:18.0447em;"><span class="stl_267 stl_08 stl_360">2019  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.1049em;top:18.0447em;"><span class="stl_267 stl_08 stl_516" style="word-spacing:-0.0562em;">PLN 5,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2955em;top:18.0447em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7249em;top:19.0547em;"><span class="stl_267 stl_08 stl_234" style="word-spacing:-0.0376em;">NNIT Singapore Holdings Pte. Ltd.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2355em;top:19.0547em;"><span class="stl_267 stl_08 stl_34">Singapore  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0437em;top:19.0547em;"><span class="stl_267 stl_08 stl_360">2019  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.2705em;top:19.0547em;"><span class="stl_267 stl_08 stl_442" style="word-spacing:-0.0568em;">SGD 546,278  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2955em;top:19.0547em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7249em;top:20.0647em;"><span class="stl_267 stl_08 stl_188" style="word-spacing:-0.0374em;">NNIT Singapore Pte. Ltd.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2355em;top:20.0647em;"><span class="stl_267 stl_08 stl_34">Singapore  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0437em;top:20.0647em;"><span class="stl_267 stl_08 stl_360">2019  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6749em;top:20.0647em;"><span class="stl_267 stl_08 stl_259" style="word-spacing:-0.0437em;">SGD 66,700  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2962em;top:20.0647em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7255em;top:21.0747em;"><span class="stl_267 stl_08 stl_255" style="word-spacing:-0.0365em;">Excellis Health Solutions LLC  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.038em;top:21.0747em;"><span class="stl_267 stl_08 stl_252">USA  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0068em;top:21.0747em;"><span class="stl_267 stl_08 stl_174">2020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.2818em;top:21.0747em;"><span class="stl_267 stl_08 stl_412" style="word-spacing:-0.0521em;">USD 250,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2968em;top:21.0747em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7262em;top:22.0847em;"><span class="stl_267 stl_08 stl_245" style="word-spacing:-0.0349em;">Excellis Europe Ltd.</span><sup style="top: -0.2102em;"><span class="stl_281 stl_08 stl_782" style="word-spacing:-0.0599em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.4095em;top:22.0827em;"><span class="stl_267 stl_08 stl_529">UK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0057em;top:22.0827em;"><span class="stl_267 stl_08 stl_174">2020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6157em;top:22.0827em;"><span class="stl_267 stl_08 stl_215" style="word-spacing:-0.0315em;">GBP 100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2957em;top:22.0827em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7251em;top:23.0927em;"><span class="stl_267 stl_08 stl_492" style="word-spacing:-0.0339em;">SL Controls Ltd.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.1439em;top:23.0927em;"><span class="stl_267 stl_08 stl_340">Ireland  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0158em;top:23.0927em;"><span class="stl_267 stl_08 stl_209">2021  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6751em;top:23.0927em;"><span class="stl_267 stl_08 stl_388" style="word-spacing:-0.0231em;">EUR 100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2964em;top:23.0927em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7257em;top:24.1027em;"><span class="stl_267 stl_08 stl_201" style="word-spacing:-0.036em;">SL Controls USA Inc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.0383em;top:24.1027em;"><span class="stl_267 stl_08 stl_252">USA  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0164em;top:24.1027em;"><span class="stl_267 stl_08 stl_209">2021  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6526em;top:24.1027em;"><span class="stl_267 stl_08 stl_607" style="word-spacing:-0.0537em;">USD 60,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.297em;top:24.1027em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7264em;top:25.1127em;"><span class="stl_267 stl_08 stl_492" style="word-spacing:-0.0334em;">NNIT Italy S.r.l  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.9751em;top:25.1127em;"><span class="stl_267 stl_08 stl_591">Italy  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.9951em;top:25.1127em;"><span class="stl_267 stl_08 stl_266">2022  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7089em;top:25.1127em;"><span class="stl_267 stl_08 stl_582" style="word-spacing:-0.0582em;">EUR 40,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.297em;top:25.1127em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7264em;top:26.1226em;"><span class="stl_267 stl_08 stl_492" style="word-spacing:-0.033em;">NNIT España Consultoria Tecnologica  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7264em;top:26.9558em;"><span class="stl_267 stl_08 stl_321" style="word-spacing:-0.0394em;">y de la informaction siciedad limitada  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.6014em;top:26.9558em;"><span class="stl_267 stl_08 stl_201">Spain  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.9958em;top:26.9558em;"><span class="stl_267 stl_08 stl_266">2022  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7195em;top:26.9558em;"><span class="stl_267 stl_08 stl_318" style="word-spacing:-0.0537em;">EUR 50,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2976em;top:26.9558em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.727em;top:27.9658em;"><span class="stl_267 stl_08 stl_58" style="word-spacing:-0.0281em;">NNIT Czech Republic 2022 s.r.o.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.7564em;top:27.9658em;"><span class="stl_267 stl_08 stl_201" style="word-spacing:-0.0357em;">Czech Republic  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.9951em;top:27.9658em;"><span class="stl_267 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.387em;top:27.9658em;"><span class="stl_267 stl_08 stl_501" style="word-spacing:-0.0594em;">CZK 450,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2976em;top:27.9658em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.727em;top:28.9758em;"><span class="stl_267 stl_08 stl_91" style="word-spacing:-0.0424em;">NNIT Digital &amp; Life Sciences  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.727em;top:29.8089em;"><span class="stl_267 stl_08 stl_72" style="word-spacing:-0.0337em;">Philippines Inc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.9658em;top:29.8089em;"><span class="stl_267 stl_08 stl_257">Philippines  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.9951em;top:29.8089em;"><span class="stl_267 stl_08 stl_226">2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.4883em;top:29.8089em;"><span class="stl_267 stl_08 stl_163" style="word-spacing:-0.0285em;">PHP 11,200,000  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2983em;top:29.8089em;"><span class="stl_267 stl_08 stl_33">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:31.3026em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">1</span></sup><span class="stl_347 stl_08 stl_90" style="word-spacing:-0.0513em;">ꢀNNIT UK Limited, registration number 09399926, is exempt from the UK requirements relating to the audit of financial statements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.1968em;top:31.8861em;"><span class="stl_350 stl_08 stl_607" style="word-spacing:-0.0537em;">under section 479A of the Companies Act 2006.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:32.4693em;"><sup style="top: -0.1665em;"><span class="stl_345 stl_346 stl_19">2</span></sup><span class="stl_347 stl_08 stl_239" style="word-spacing:-0.0489em;">ꢀExcellis Europe Ltd., registration number 09184253, is exempt from the UK requirements relating to the audit of financial statements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:5.1968em;top:33.0528em;"><span class="stl_350 stl_08 stl_607" style="word-spacing:-0.0537em;">under section 479A of the Companies Act 2006.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:35.4245em;"><span class="stl_527 stl_08 stl_220" style="word-spacing:0.1759em;">5.7 Events</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:8.854em;top:35.4245em;"><span class="stl_527 stl_08 stl_114" style="word-spacing:-0.022em;">after the balance sheet date  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:36.8639em;"><span class="stl_202 stl_08 stl_246" style="word-spacing:-0.0403em;">There have been no events after the balance sheet date which would have a significant impact on an assess-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.7244em;top:37.697em;"><span class="stl_202 stl_08 stl_423" style="word-spacing:-0.0312em;">ment of NNIT's financial position as of December 31, 2024.  </span></div> NNIT A/S   Weidekampsgade 14  DK-2300 Copenhagen S   Denmark   Denmark