William Demant Holding A/S

At the William Demant Holding general meeting on 10 March 2020, Folketrygdfondet, manager of the Government Pension Fund Norway, voted against item 7(c) for the following reasons:

Item 7(c): Approval of the Company's Remuneration Policy and General Guidelines on Incentive Pay
Rationale:

Folketrygdfondet voted against this item as the company provides insufficient disclosure to assess how the executive remuneration policy aligns with shareholder interests.