Activities and meetings attended in 2020

The Audit Committee held 9 meetings in 2020. In 2020, The Audit Committee has been operating as a preparatory committee for the Board of Directors with respect to accounting and auditing matters, including risk matters relating thereto. The Audit Committee has reviewed and submitted recommendations to the Board of Directors regarding financial reports and assessment of the related risks, key accounting principles and procedures, internal controls, reports from both internal and external audit.

Jan Thorsgaard Nielsen, Raija-Leena Hankonen and Christian Sagild are designated as the qualified members of the Audit Committee pursuant to section 31(1) of the Danish Act on Approved Auditors and Audit Firms.

Activities and meetings attended in 2020

The Nomination Committee held 4 meetings in 2020. In 2020, The Nomination Committee has been operating as a preparatory committee for the Board of Directors with respect to the nomination and appointment of candidates to the Executive Leadership Team and to the Board of Directors and evaluation of the work and performance of the Executive Leadership Team, the Board of Directors and its individual members. The Nomination committee has also submitted proposals to the Board of Directors on policies for succession planning and diversity and inclusion.

Activities and meetings attended in 2020

The Risk Committee held 9 meetings in 2020. In 2020, the Risk Committee has been operating as a preparatory committee for the Board of Directors with respect to Danske Bank’s risk management and related matters. The Risk Committee has advised the Board of Directors on Danske Bank’s risk profile, risk culture, risk appetite, risk strategy and risk management framework as a part hereof. The Risk Committee has reviewed and submitted recommendations to the Board of Directors regarding Danske Bank’s risk appetites, policies and instructions, its capital, leverage, liquidity, solvency and recovery requirements, its operational resilience framework (former business continuity plans), its impairment levels, its products and services from a risk perspective and the credit quality of Danske Bank’s loan portfolio. Furthermore, the Risk Committee has reviewed the use of internal models, the adequacy and sufficiency of staff resources of the risk management control function and incentive programmes from a risk perspective.