MANAGEMENT’S STATEMENT Today, the Board of Directors and Board of Executives have reviewed and approved the annual report of Harboes Bryggeri A/S for the financial year 1 May 2015 to 30 April 2016. The annual report has been prepared in accordance with International Financial Reporting Standards as adopted by the EU and Danish disclosure requirements for listed companies. We believe that the consolidated financial statements and the financial statements give a true and fair view of the group’s and the company’s assets and liabilities and financial position as at 30 April 2016 as well as of the results of their operations and cash flows for the financial year 1 May 2015 to 30 April 2016. We believe that the management’s review gives a fair review of the development in the group’s and the company’s activities and financial affairs, their results for the year and the company’s financial position and the general financial position for the companies comprised by the consolidated financial statements as well as a description of the most important risks and uncertainty factors to which the group and the company are exposed. The annual report is submitted for adoption by the annual general meeting. Skælskør, 30 June 2016
BOARD OF EXECUTIVES
Bernhard Griese CEO
BOARD OF DIRECTORS
Anders Nielsen, Chairman
Bernhard Griese
Mads O. Krage
Karina Harboe Laursen
Thøger Thøgersen
Carl Erik Kjærsgaard
Jens Bjarne Søndergaard Jensen * * Staff representative
46 Annual report • 2015/16