Board of Directors

In compliance with Flüggers regulations, excluding employee representatives, the Board of Directors consists of at least three and no more than eight shareholder-elected board members, who are elected for one year. Retiring members may be reappointed.

In Flügger it is standard procedure to have four shareholder-elected board members and two employee representatives on the board. Flügger strives to have a board with two or three members of the shareholder-elected board members, who are independent from the company, the majority shareholder and significant supplier interests or customer interests – and that a member of the board represents the majority shareholder. The total remuneration to the board is disclosed in the annual report under notes.

Audit Committee

The Board of Directors of Flügger has set up an Audit Committee which holds four meetings a year and comprises the following members:

Kim Balle (chairman, independent board member)
Jimmi Mortensen

The purpose of the Audit Committee is to monitor the financial reporting process, including monitoring compliance with applicable legislation, standards and other regulations governing listed companies as this relates to the presentation of the financial statements and the publication of financial reporting, as well as to assess the need for internal audits.

Nomination and Remuneration Committee

The Board of Directors of Flügger has set up a combined Nomination and Remuneration Committee which holds at least one meeting a year and comprises the following members:

Ulf Schnack (chairman, director)
Peter Korsholm
Kim Balle

The purpose of the Nomination and Remuneration Committee is to nominate and recommend candidates for the Board of Directors, to help ensure a composition of members according to specified criteria, to ensure compliance with the remuneration policy and general guidelines for incentive pay and to submit proposals for the remuneration of the Board of Directors and the Executive Board.

1

Chairman

Peter Korsholm

Chairman

Born in 1971, joined Flügger Board of Directors in 2022.

Other directorships:

CEO: DSVM Invest A/S, DSV Miljø Group A/S, Togu ApS and Totalleverancer Sverige AB. Chairman of the board: Nymølle Stenindustrier A/S, Lion Danmark I ApS and two wholly owned subsidiaries of Lion Danmark I ApS (the Lomax group). Board member: Ørsted A/S, DSVM Invest A/S and nine wholly-owned subsidiaries, A/S United Shipping and Trading Company and Bella Group A/S and two wholly-owned subsidiaries.

Qualifications:

Experience with logistics and e-commerce, e.g. from board work and investment in Lomax A/S and Unisport A/S as well as specific logistics from GDL Transport AB and DANX A/S Group. Extensive experience in M&A from his time as a partner in and head of EQT Partners Denmark as well as from private investments. In addition, experience with financial reporting, risk management and capital markets from a position as group finance director at AAK AB and board member and Audit and risk committee member at Ørsted A/S.

2

Vice Chairman

Jimmi Mortensen

Vice Chairman

Born in 1974, joined Flügger Board of Directors in 2021.

Other directorships:

CEO in Actona Group A/S. Board member of Carl Ras A/S, vice chairman of the board of Rosendahl Design Group A/S, chairman of the board of Theca A/S, and chairman of the board of SITS sp. z.o.o.

Qualifications:

Thorough knowledge of Flügger i.a. through his position as CEO of Flügger group A / S from 2016-2021.

3

Board Member

Bettina Antitsch Mortensen

Board Member

Born in 1978, joined Flügger Board of Directors in 2022.

Other directorships:

Chairman of the board of M+ Invest A/S and eight subsidiaries, M+ Ejendomme A/S and seven subsidiaries, Hybel Danmark A/S and five subsidiaries, Stenhøj Husene Holding A/S and three subsidiaries and Won Holding ApS and two subsidiaries. Board member of Fix my car A/S, Ejendomsselskabet af 14 juni 2013 A/S, Strandholmen A/S, MPP GIH A/S, Valdemars Have A/S and Plushusene Management ApS. Board member and director of JA Holding A/S and two subsidiaries.

Qualifications:

Broad legal experience with a background as a commercial lawyer and subsequently a long career as a defense lawyer with the right to appear before the Supreme Court. Through her other management positions, she has great market insight from the construction and property industry.

4

Kim Balle

Board Member

Born in 1968, joined Flügger Board of Directors in 2021.

Other directorships:

Member of the board of: TORM A/S, TORM Singapore Pte. Ltd., Nordea Invest, Lind Capital A/S and chairman of Lind Capital Fondsmæglerselskab. Director positions in the following companies: TORM A/S, TORM Singapore Pte. Ltd. and Kim Balle Holding ApS.

Qualifications:

Kim Balle is currently the CFO of TORM A/S and through his many years of experience from similar leading positions in Danish business life, including as CFO of CASA A/S and DLG a.m.b.a. as well as director positions in the financial sector working with Financial Management, Tax, Governance & Compliance, Corporate Strategy, M&A and IPOs, IT & Business Transformation, complex financing solutions, BI & Artificial Intelligence, business development, Enterprise Risk Management, etc. Kim Balle has many years of experience with board work in a wide spectrum of company types.

5

Employee Representative

Berit List Lassen

Employee Representative

Born in 1964, joined Flügger Board of Directors in 2019.

Store Manager in Flügger farver, Horsens.

Qualifications:

Solid experience within Flügger through 37 years of employment. Management experience as well as extensive product knowledge, and an in-depth experience in operating stores, sales and marketing.

6

Employee Representative

Martin Johansen

Employee Representative

Born in 1973, joined Flügger Board of Directors in 2021.

Maintenance Technician at our production site in Kolding.

Qualifications:

Broad knowledge of production and stock in Kolding - works with purchasing optimization and maintenance of machines and process facilities.