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

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