2 DSV Panalpina Remuneration Report 2020 Remuneration 2020 Remuneration 2020 This Report provides a summary of the remuneration of the Board of Directors and Executive Board of DSV Panalpina A/S for 2020. Remuneration to the Board of Directors and Executive Board for the financial year has been awarded in accordance with the DSV Panalpina Remuneration Policy. Remuneration objectives The overall intentions of the Remuneration Policy are twofold, focusing partly on attracting and retaining qualified members of the Board of Directors and Executive Board and partly on aligning the interests of the Executive Board with those of the shareholders, with the end goal to create long-term value for the DSV Panalpina shareholders. To achieve that objective, competitive remuneration packages are offered to the Board of Directors and Executive Board taking into account the strategic development and positioning of the Company compared to our peers as well as the actual financial and share price performance realized. Performance of the company In 2020, DSV Panalpina achieved an all-time high in terms of financial performance, ending the year with an EBIT result of DKK 9.520 million and a share price of DKK 1,020. These results were achieved in a difficult and uncertain market heavily impacted by the effects of COVID-19. Value creation EBIT Share price Simultaneously, the integration and realisation of synergies from the DKK 36 billion Panalpina acquisition were executed with success, delivering on the time plans and strategic targets set. The end result has been the repositioning of DSV Panalpina as the world’s fifth largest logistics provider. Overall development in management remuneration Total remuneration of the Board of Directors and Executive Board changed by 13.6% and -0.8% respectively, since 2019 in line with the DSV Panalpina Remuneration Policy. Share price (DKK) 1,000 800 600 400 EBIT (DKKm) 10,000 8,000 6,000 4,000 The financial performance achieved, and execution of strategic and synergy targets set as highlighted in the former have been taken into consideration in determining the remuneration for 2020. Remuneration policy The latest Remuneration Policy as adopted at the Annual General Meeting in March 2020 is available on the DSV Panalpina corporate website at: https://investor.dsv.com/static-files/fae00375-1811-459a-90466761fa8000aa Since adoption, the Policy has been applied consistently throughout the year. No major amendments to the Policy have been suggested for the Annual General Meeting 2021. Basis of preparation This Remuneration Report has been prepared in accordance with the Danish Companies Act and the latest Recommendations on Corporate Governance of 23 November 2017 by the Danish Committee on Corporate Governance. Last year’s 2019 Remuneration Report was presented and approved without any reservations at the DSV Panalpina Annual General Meeting on 16 March 2020. 200 2,000 0 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Growing the business Total assets Employees number Employees number Assets (DKKm) 70,000 120,000 60,000 50,000 40,000 30,000 20,000 10,000 100,000 80,000 60,000 40,000 20,000 0 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
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