In accordance with ROCKWOOL A/S’s articles of association, shareholders in ROCKWOOL have the right – under certain terms and conditions – to re-register (convert) A shares to B shares at a ratio of 1:1 (i.e. one A share to one B share).

Conversion of A shares to B shares is voluntary and takes place only at the request of the individual shareholder. The request may set out the number of A shares that the shareholder wishes to convert. Shareholders will be able to request conversion four times a year in periods of 10 working days after publication of the company’s annual-, half-yearly- or interim report. The first conversion period will commence after the publication of the company’s 2022 half-year report on 24 August 2022 and will expire on 7 September 2022.

Eligible conversions will be executed after expiry of the mentioned periods. Conversion will take place on a 1:1 basis (i.e. one A share to one B share), and no compensation will be paid for any difference in the share price between the share classes.

To apply for conversion, you must complete the Conversion Form and submit it to your securities account holding institution, i.e. the financial institution in which you hold your ROCKWOOL A shares (for most shareholders, this will be a bank). The Conversion Form must reach the securities account holding institution no later than 10 working days after the publication of the relevant financial report. The form must be received by the company’s share issuing institution no later than 12:00 CET on the second business day after the expiry of the aforementioned deadline. The company notes that, according to a binding ruling obtained by the company, the Danish tax authorities has concluded that a conversion will be a taxable event for the shareholder for Danish tax purposes. The tax consequences of the conversion for the shareholder requesting conversion are of no concern to the company.

ROCKWOOL will complete eligible conversions without undue delay after the end of each conversion period and make the necessary filings with the Danish Business Authority, Euronext Securities, and Nasdaq Copenhagen. For further information about the conversion process, see below list of frequently asked questions.

Please note that the company is allowed to temporarily suspend and/or restrict conversions, including by limiting the number of shares, which may be converted. Any such limitations will be communicated by a company announcement. Please also note that within the framework of the articles of association, the company is free to change the terms and conditions for conversion at its discretion.

FAQs

1. What are the effects of a conversion?
2. How do I convert my A shares to B shares?
3. Can I submit a request for conversion directly to ROCKWOOL?
4. What does it cost to convert A shares to B shares?
5. How long does the conversion take?
6. What if I change my mind?
7. What are the tax consequences of converting A shares to B shares?
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Thomas Harder, Director of Group Treasury & Investor Relations

Thomas Harder

Director,
Group Treasury & Investor Relations, ROCKWOOL Group

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