Notes

Geographical markets and activities do not differ significantly, for which reason these are not reported, see Section 96 of the Danish Financial Statements Act.

2 Other external expenses Other external expenses comprise administrative expenses, costs of premises, education and training, marketing, bad debts, etc.

to the auditor appointed by the Annual General Meeting which is calculated as the difference between deposits on client accounts amounting to

Referring to Section 98 B(3) of the Danish Financial Statements Act, remuneration to the Executive Board is not disclosed. The members of the Board of Directors of the Private Limited Partnership have not received any management remuneration during the financial year.

The line item ”Other interest expenses” includes interest on balances with the shareholders of the Private Limited Partnership in the amount of DKK 4,628k.

Notes

13 Treasury shares

During the financial year, the Private Limited Partnership acquired treasury shares as it has, within the framework laid down by the General Meeting, accommodated those shareholders who have wanted to sell their shares.

The Private Limited Partnership has disposed of treasury shares during the financial year as part of the acceptance of new partners to the group of shareholders.

14

Other provisions

The outcome of cases of liability and the time when they are closed are inherently uncertain, however, the liabilities are estimated to be settled within the next three or four years. These liabilities comprise costs, including legal expenses and any compensation.

15

Payables to shareholders and management

The line item ”Payables to shareholders and management” reflects current balances with the partners, and the Private Limited Partnership’s proposition to the partners to have a small rate of return on balances in exchange for the Private Limited Partnership’s availability of liquidity for agreed periods of time. 16

In 2021, this line item includes a net deposits of DKK 2,984k, which is calculated as the difference between deposits on client accounts amounting to DKK 1,110,101k and client payables amounting to DKK 1,113,085k. 17