PART Notes – the KIRKBI Group

CONTENTS

PART 1 Management’s Review

5 Financial Highlights 6 2020 At a Glance 8 KIRKBI – A Family-owned Company 10 Annual Review

About KIRKBI

14 Who We Are 16 How We Work with Sustainability 34 Associated Foundations 36 Board of Directors 38 Executive Leadership Team

LEGO Brand Group Activities

42 LEGO Brand Group 44 The LEGO Group 46 Merlin Entertainments

Investment Activities

48 Investment Activities 50 Core Capital 54 Thematic Capital

PART 2 Consolidated Financial Statements

58 Consolidated Income Statement 59 Consolidated Statement of Comprehensive Income 60 Balance Sheet at 31 December 62 Statement of Changes in Equity 63 Cash Flow Statement 1 January – 31 December

PART 3 Notes – the KIRKBI Group

65 Contents

PART 4 Parent Company

99 Contents

PART 5 Additional Information

111 Management’s Statement 112 Independent Auditor’s Report

* Pages 16 – 33 comprise KIRKBI’s communication on progress in implementing the ten UN Global Compact principles.