LD Pensions' tender for an Agreement concerning Investment Management of Emerging Market Sovereign Hard Currency Bonds

ully owned subsidiary Kapitalforeningen LD (KLD). The contract will be signed by KLD. The expected size of the mandate is DKK 2,000 million, approximately EUR 270 million. The investment objective is to outperform the index in net terms (i.e. after deduction of all costs) over a full market cycle. A

more detailed description of the characteristics of the mandate can be found in the Investment Guidelines (Investment Guidelines can be found in Schedule 1 of the Agreement).