ANNUAL REPORT er realkredit

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Frederik Jessen
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1 er realkredit ANNUAL REPORT DLR KREDIT A/S NYROPSGADE KØBENHAVN V TLF FAX DLR@DLR.DK CVR NR

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71 Statement of changes in equity (DKKm) Share capital 1,4) Revaluation reserve Undistributable reserve Retained earnings Owners of additional tier 1 capital 2) Total 2017 Equity at 1 January Comprehensive income Transactions with owners Disposal of treasury shares 3) Interest on additional tier 1 capital Tax base of deduction for interest on additional tier 1 capital Repayment of additional tier 1 capital Equity at 31 December Equity at 1 January Profit for the year Revaluation of property Tax on property revaluations -5-5 Acquisition of treasury shares 3) Equity at 31 December ) The share capital is divided into shares of DKK 1.00 each. The total number of shares is 569,964,023. DLR has one share class, and all shares carry equal rights. 2) Additional tier 1 capital meeting the requirements of the Capital Requirements Regulation (CRR). 3) In 2018, DLR acquired treasury shares corresponding to a market value of DKK 171.8m and sold treasury shares corresponding to a market value of DKK 4.3m. The net acquisition of treasury shares was thus DKK 167.5m (2017: sale of treasury shares of DKK 632m). The transactions were made for purposes of adjusting the equity interests of individual shareholders. The DKK 167.5m net acquisition of treasury shares may be specified as follows: Number 7,924,919 Nominal value (DKKm) 7.9 Percentage of share capital 1.4% 4) DLR held 29,420,037 treasury shares at 31 December 2018, corresponding to a nominal value of DKK 29.4 million. The portfolio of treasury shares accounts for 5.2% of the total share capital. 71

77 Notes - income statement (DKKm) Note Remuneration to the Board of Directors for participating in board duties and serving on Risk and Audit Committees Amount in this note are in DKK Vagn Hansen, Chairman Lars Møller, Deputy Chairman (took office in April 2017) Anders Dam, Deputy Chairman (resigned in April 2017) 0 52 Claus Andersen Claus Andreasen (resigned in April 2017) 0 36 Randi Franke (took office in April 2017) Karen Frøsig (resigned in April 2018) Peter Gæmelke Jakob G. Hald Kim Hansen (took office in April 2017) Søren Jensen Gert R. Jonassen (took office in April 2017) Agnete Kjærsgaard Bjarne Larsen 81 0 Torben Nielsen (resigned in April 2018) Benny Pedersen (resigned in April 2017) 0 36 Jan Pedersen (resigned in April 2018) Lars Petterson Total remuneration Members of the Board of Directors do not receive shares or other incentive pay. Other employees besides the Executive Board and the Board of Directors influencing the risk profile Fixed remuneration 17,3 18,2 Variable remuneration 0,0 0,0 Total 17,3 18,2 Number of employees who have influenced the risk profile Number of employees who have influenced the risk profile during the year Of whom resigned during the year 2 1 Number of employees influencing the risk profile, year-end The Company has no pension obligations to or incentive schemes for the above group of persons. 77

84 Notes - assets (DKKm) 21 Reasons for individual impairment losses Remaining bond debt before impairmen Impairment year-end Remaining bond debt before impairment 31 Dec. 31 Dec. Impairment year-end Property category / Reason Farms, including residential farms etc. Bankruptcy Reconstruction Current default on payments Prior default om payments Total Rental properties, including private cooperative housing properties Bankruptcy Reconstruction Current default on payments Prior default om payments Total Office and business properties Bankruptcy Reconstruction Current default on payments Prior default on payments Total Other properties Bankruptcy Reconstruction Current default on payments Prior default on payments Total The difference between the remaining bond debt before impairment and the impairment loss recognised has been secured by: - Mortgage on the property - Guarantees from financial institutions provided as security for part of the loans. 84

89 Notes - risk management Note 33 Risk management Risk management is anchored with the Board of Directors and the Executive Board and is a key element of DLR s day-to-day operations. DLRs internal controls and risk management procedures have been organised with a view to ensuring effective management of relevant risks. DLR s risks may be classified as follows: - Credit risk: DLR provides loans against registered mortgages on real property in compliance with statutory limits for the ranking of collateral. - Market risk: Mortgage loans and the underlying funding are regulated according to the balance principle, meaning that DLR is only exposed to insignificant market risk. DLR s market risk is thus associated with its securities portfolio and issued bonds at amortised cost. - Operational risk: DLR s operational risk pertains to any inadequate or failed internal processes, human or system error and external events, including legal risks. Credit, market and operational risks are hedged by holding sufficient capital, while liquidity risks are hedged by holding adequate cash resources. Each year, DLR publishes a detailed report entitled Risk and Capital Management containing a number of risk indicators in compliance with the Capital Requirements Regulation (CRR). The report, which is not subject to auditing, may be found at dlr.dk/financial Statements. 89

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Strategic Capital ApS has requested Danionics A/S to make the following announcement prior to the annual general meeting on 23 April 2013:

Strategic Capital ApS has requested Danionics A/S to make the following announcement prior to the annual general meeting on 23 April 2013: Copenhagen, 23 April 2013 Announcement No. 9/2013 Danionics A/S Dr. Tværgade 9, 1. DK 1302 Copenhagen K, Denmark Tel: +45 88 91 98 70 Fax: +45 88 91 98 01 E-mail: investor@danionics.dk Website: www.danionics.dk