Activities and meetings attended in 2018

The Audit Committee held 13 meetings in 2018 of which 7 were extraordinary meetings. In 2018, The Audit Committee have 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 have 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, compliance, anti-money laundering and whistleblowing. In 2018, the Estonia case has mainly been prepared by the Audit Committee, but from March to June 2018 an ad hoc committee called the Estonia Committee prepared the case. The Estonia Committee held 9 meetings in 2018.

The Audit Committee held 13 meetings in 2018 of which 7 were extraordinary meetings.
Members	Meetings attended in 2018
Jørn P. Jensen (chairman until 7 December 2018)	12/13
Carol Sergeant	2/2
Hilde Tonne	2/2 (left the committee in March 2018)
Jens Due Olsen (chairman from 7 December 2018)	10/10 (joined the committee in March 2018)
Ingrid Bonde	10/10 (joined the committee in April 2018)

Of the Audit Committee meetings held in 2018 at which the Estonia case was on the agenda, previous Audit Committee member Hilde Tonne and non-Audit Committee member Lars-Erik Brenøe participated in one meeting, and previous Audit Committee member Carol Sergeant and non-Audit Committee member Ole Andersen participated in all meetings.

Jens Due Olsen is designated as the qualified member of the Audit Committee pursuant to section 31(1) of the Danish Act on Approved Auditors and Audit Firms.

Activities and meetings attended in 2018

The Remuneration Committee held 2 meetings in 2018. In 2018, the Remuneration Committee have been operating as a preparatory committee for the Board of Directors with respect to matters concerning remuneration with a special focus on the remuneration of members of the Board of Directors, the Executive Board, material risk takers, key employees and executives in charge of control and internal audit functions, and on incentive programmes. The Remuneration committee have reviewed and submitted recommendations to the Board of Directors regarding remuneration policies and practices, developments in remuneration levels, including variable remuneration. The committee have monitored the incentive programmes to ensure that they promote ongoing, long-term shareholder value creation as well as compliance with the Remuneration Policy.

The  Remuneration Committee held 2 meetings in 2018
Members	Meetings attended in 2018
Ole Andersen (chairman until 7 December 2018)	2/2
Charlotte Hoffmann	2/2
Rolv Erik Ryssdal	2/2
Hilde Tonne	2/2