Management’s statement

Today, the Board of Directors and Executive Management have discussed and approved the annual report of KIRKBI A/S for the financial year 1 January – 31 December 2017.

The annual report is prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU and additional disclosure requirements in the Danish Financial Statements Act.

In our opinion, the consolidated financial statements and the Parent Company financial statements give a true and fair view of the Group’s and the Parent Company’s financial position at 31 December 2017 and of the results of the Group’s and the Parent Company’s cash flows for the financial year 1 January – 31 December 2017 in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU and additional disclosure requirements in the Danish Financial Statements Act.

In our opinion, the management’s review includes a fair review of the development in the Group’s and the Parent Company’s operations and economic conditions, the results for the year and the financial position of the Group and the Parent Company, as well as a review of the most significant risks and elements of uncertainty facing the Parent Company and the Group, in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU and additional disclosure requirements in the Danish Financial Statements Act.

We recommend the adoption of the annual report at the annual general meeting of shareholders.

Billund, 6 March 2018

EXECUTIVE MANAGEMENT

Søren Thorup Sørensen,

CEO

BOARD OF DIRECTORS

Kjeld Kirk Kristiansen,

Chairman

Niels Jacobsen, Deputy Chairman

Jeppe Fonager Christiansen

Peter Gæmelke

Thomas Kirk Kristiansen