Common use of The following applies to the capital in- crease which will be carried through in the event of exercise of the issued War- rants Clause in Contracts

The following applies to the capital in- crease which will be carried through in the event of exercise of the issued War- rants. 11.1.1 The capital increase will be carried through without any pre-emption right for the existing shareholders. 11.1.2 The amount by which the share capital is increased is minimum nominally DKK 0.0375 and maximum nominally DKK 82,777.4625. 11.1.3 The new shares will be offered in denom- inations of nominally DKK 0.0375. 11.1.4 A cash amount of DKK 4,8685 is payable per share of nominally DKK 0.0375. 11.1.5 Part payment of the new shares is not permitted. 11.1.6 The new shares will belong to the same share class as the other shares in the Company. If a resolution is made to in- troduce different share classes in the Company before the issued Warrants are exercised, shares subscribed for by ex- ercise of the Warrants will belong to the share class which will place the Warrant Holders in the position as if the issued Warrants had been exercised immedi- ately before the introduction of the new share class(es).