OUTLOOK

To Nasdaq OMX Copenhagen A/S

Public announcement no. 397

September 22, 2017

OUTLOOK FOR FISCAL YEAR 2017/18

The outlook for Glunz & Jensen Holding A/S for the year 2017/18 (June 1, 2017 to May 31, 2018) has been communicated (guided) with a revenue level as in 2016/17 and an EBITDA at 30 mill. DKK excluding non-recurring cost and excluding fair value adjustments. The outlook for the 12 month period is unchanged.

The Annual General Meeting of Glunz & Jensen Holding A/S on September 21, 2017 approved the changing of the accounting period to April 1 - March 31 and hence shortening the fiscal year 2017/18 to 10 months instead of the current 12 months hence requires the outlook for 2017/18 to be adjusted accordingly.

The outlook for the 10 month fiscal period is a revenue level of 215 mill. DKK and an EBITDA at 24 mill. DKK excluding non-recurring cost and excluding fair value adjustments.

For additional information:

CEO René Normann Christensen, at phone +4524234677

Chairman of the Board of Directors, Carsten Knudsen, at phone +4521464236