EUR 1000.00 For Business Accounts Only

Coloplast - AGM 03 December 2020

In general, Coloplast is in compliance with the Danish regulations relating to the organisation and procedures of the Annual General Meeting.

Under ITEM 4 approval of the Company's remuneration report is sought. Since it has various concerns over the executive compensation in the year under review, ECGS recommends to vote OPPOSE.

Under ITEM 6.1 approval of Coloplast's remuneration policy is sought. As the (proposed) remuneration policy's structure is NOT in accordance with its guidelines, ECGS recommends to vote OPPOSE.

ITEM 6.3 is a proposal made by shareholders Akademiker Pension and LD Fonde (both Danish pension funds). Since the proposal is clearly intended to improve the Company's tax reporting, ECGS recommends to vote FOR.

Under ITEMS 7.1-7.6 the (re-)election of the board of directors is proposed.In view of concerns over aggregate time commitments, ECGS normally would have recommended to vote OPPOSE to the (re-)election of: Mr. Lars Søren Rasmussen (ITEM 7.1) and proposed new nominee Ms. Marianne Wiinholt (ITEM 7.6). However, considering that the proxy card does not permit this, it recommends abstention instead. Under ITEM 8 the board of directors proposes to re-appoint PricewaterhouseCoopers as the Company¶s external auditor. In light of the substantial amount of non-audit fees as well as the current term in office of the external auditor, ECGS normally would have recommended opposition. However, considering that the proxy card does not permit this, it recommends abstention instead.

Finally, ECGS notes that, since 2011, Coloplast has been named as a defendant in individual lawsuits in various federal and state courts in the US, alleging injury resulting from use of transvaginal surgical mesh products designed to treat pelvic organ prolapse and stress urinary incontinence. On September 30, 2019, Coloplast made a further provision of DKK 400 million to cover further costs to resolve the remaining claims as the process takes longer than previously anticipated. This brings the total amount recognised since FY 2013/14 for expected costs of litigation in the US to DKK 5.65 billion including legal cost. As of September 30, 2020, the remaining provision made for legal claims amounted to DKK 0.3 billion.